/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/060112.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Thursday, January 12, 2006, Vol. 7, No. 9 Headlines C Z E C H R E P U B L I C MORAVAN-AEROPLANES: Irish Firm Lodges Lone Bid VSEOBECNA ZDRAVOTNI: Health Workers Mull Strike over Delayed Pay F R A N C E BURGESS NORTON: Management Declares Insolvency METALEUROP S.A.: Staging Market Comeback Next Week G E R M A N Y AEG HAUSGERATE: Union Scores Indifference to Workers' Welfare A. KOLKHORST: Bielefeld Court Appoints Administrator ALLGEMEINE HYPOTHEKENBANK: Minority Owners Balk at Rehab Plan ALTRACO GMBH: Proofs of Claim Due Later this Month CARE TECHNOLOGY: Creditors to Meet Next Month CDK-CREATIVE: Under Bankruptcy Administration DAIMLERCHRYSLER AG: Chrysler Stepping up Capacity HEHO WOHNBAU: Duesseldorf Court Calls in Administrator K&Z LOGISTIK: Essen Business Goes Bankrupt MBS MASCHINEN: Court to Verify Claims March PROSIEBENSAT.1 MEDIA: Media Regulator Blocks Axel Takeover SELBSTKLEBETECHNIK GMBH: Aalen Court Names Pluta Administrator SK HOTELBETRIEBSGESELLSCHAFT: Falls into Bankruptcy TC TRUSTCENTER: IT Security Biz Sold to U.S. Firm VEREINS DEUTSCHES: Claims Filing Period Ends February 22 I R E L A N D ELAN CORPORATION: EntreMed Gets Rights to NanoCrystal Technology I T A L Y ALITALIA SPA: Denies Changes to Merger Timetable AVIO S.P.A.: B+ Rating Affirmed After Senior Debt Refinancing TISCALI S.P.A.: Claiming CZK44 Million Against Cesky Telecom K Y R G Y Z S T A N AIREK: Under Bankruptcy Supervision EKOSVET: Sets Proofs of Claim Deadline OMEGA-BUSINESS: Gives Creditors Until Next Month to File Claims REMAXA-SOUTH: Creditors' Claims Due February TECHNO-TRANZIT: Proofs of Claim Deadline Set N E T H E R L A N D S GETRONICS N.V.: Takes over Mercator's IT Contracts ROYAL SHELL: Share Buyback Program Continues P O L A N D STOCZNIA GDYNIA: Prepares to Sell Subsidiary R U S S I A AGRYZ-AGRO-PROM-STROY: Succumbs to Bankruptcy ENERGY-MONTAGE: Bankruptcy Hearing Set Next Week KEMEROVSKIY: Claims Filing Period Ends Today MOTORIST: Insolvency Manager Takes over Firm OREL-GAS-STROY: Orel Court Opens Bankruptcy Proceedings PASHINSKIY COMBINE: Declared Insolvent SIEMENS: Insolvency Manager Enters Firm TUKANSKOYE MINE: Undergoes Bankruptcy Supervision Procedure TYUMEN-OIL-GAS-MASH: Bankruptcy Hearing Set Today VILYUYSKOYE ENTERPRISE: Bankruptcy Supervision Begins S W I T Z E R L A N D SWISS INTERNATIONAL: Seat Load Factor Improves Significantly U K R A I N E AGROPROMTEHNIKA: Declared Insolvent ENERGETIC-NKZ: Bankruptcy Supervision Starts KOMETEKS LTD.: Creditors' Claims Due Weekend LUGRESURS: Appoints Insolvency Manager RIVNE' BREAD: Declares Bankruptcy ZOLOTE RUNO: Under Bankruptcy Supervision U N I T E D K I N G D O M ALEXON GROUP: Christmas Trading Fails to Lift 2nd-half Results AMBERLEE UK: Administrator from Bond Partners Moves in APP AUTOMOTIVE: Meeting of Creditors Set Today BELIMO LTD.: Liquidator from Begbies Traynor Moves in BEST BLOOMS: Creditors Meeting Set Next Week CHARACTER GROUP: Trading Upturn Carries on into the New Year CLYDESDALE BANK: Branch Closures Continue CONTROL ENGINEERING: Calls in Administrator INTERTEK GROUP: Unit Signs PSI Deal Extension with Mozambique INTERTEK GROUP: To Unveil Preliminary Results March J. A. MARSHALL: Names Begbies Traynor Administrator JOHN LAING: Blames Cash-flow Troubles for Insolvency LANGBAR INTERNATIONAL: Shareholders Suspect Short-selling LEWIS & MANLEY: Metal Parts Maker Winds up MARKS & SPENCER: U.K. Sales Up 4.8% MARLOW ROPES: FKI Buys Marine, Offshore Ropes Business MERIDIAN WINDOWS: Files for Liquidation MG ROVER: Nanjing in Final Talks over Investment M L T PITTS: Non-life Insurance Firm Liquidates MYRIAD TRADE: Calls in Administrators from Begbies Traynor NIX TECHNOLOGIES: Names Mercer & Hole Administrator NOUVELLE ENGINEERING: Calls in Liquidator PAN PRESENTATIONS: Event Organizer Liquidates PREMIER OFFICE: Supplier Calls in Administrator READYBAKE (UK): Appoints Sanderlings Administrator RED HOT: Publishing Firm Contacts Administrator RED ROSE: Names Begbies Traynor Liquidator SANCTUARY GROUP: Bankers Agree to Raise Facilities SEA CONTAINERS: Names Robert Mackenzie President SECOND CITY: Appoints Liquidators from Begbies Traynor SPA NATION: Administrators from DTE Leonard Curtis Enter Firm STORM DESIGN: Goes into Liquidation SUPERCLEAN (EAST ANGLIA): In Liquidation TMC INNOVATIONS: Appoints Joint Liquidators TOO CO: Administrator from Bond Partners Moves in UK CIRCUITS: Enters Administration WADEBAY LIMITED: Travel Agent Hires Administrator WM MORRISON: Closure of Two Depots Affects 1,600 Workers YEOMANS DEVELOPMENTS: Names Middleton Partners Administrator ********* =========================== C Z E C H R E P U B L I C =========================== MORAVAN-AEROPLANES: Irish Firm Lodges Lone Bid ---------------------------------------------- Only one bidder had submitted an offer for bankrupt aircraft maker Moravan-Aeroplanes a.s. when the deadline expired on Monday. Receiver Petr Hajtmar identified the bidder as QucomHaps, an Irish firm, according to Czech Happenings. QucomHaps will be asked to submit a final offer once it meets all formal requirements. The bidder had previously failed to meet the sale criteria. The report said aspiring bidder for Moravan-Aeroplanes are required to buy all assets of the firm and its former parent, Moravan, to be able to operate the company as a functioning unit. Both companies were controlled by entrepreneur Libor Soska. Moravan-Aeroplanes produces the all-metal ZLIN aircraft ZLIN Z 142C, Z 242L, Z 143L and Z 143Lsi, including spare parts. It also operates a service center, which is also included in the sale. The company has 200 staff. The Regional Court in Brno declared the company bankrupt on June 18, 2004 at the request of management and employees. The company owes employees wages worth CZK12 million, over CZK60 million in social security premiums and CZK11 million in taxes. CONTACT: MORAVAN-AEROPLANES a.s. Letiste 1578 765 81 Otrokovice Phone: +420 576 083 901 Fax: +420 576 083 929 E-mail: m.aeroplanes@moravan.cz\ VSEOBECNA ZDRAVOTNI: Health Workers Mull Strike over Delayed Pay ---------------------------------------------------------------- Health Minister David Rath is seeking the speedy release of the insurance premium the government pays to Vseobecna zdravotni Pojistovna Ceske Republiky (VZP) for a selected group of people. He has reportedly approached Finance Minister Bohuslave Sobotka about the CZK3 billion annual premium for children, pensioners, and the unemployed. Finance Ministry spokesman Jaroslav Ruzek says VZP must request its release like it usually does every year. The company has not done so yet, he said. The sum, used to pay doctors and hospitals, is already delayed by more than a month, according to the report. Health workers have threatened to go on strike. The Health Ministry placed VZP under forced administration on Nov. 10 and appointed Antonin Pecenka administrator. Its director Jirina Musilkova was supposed to resign by Jan. 1, but she decided against it pending her dismissal and the election of a new director. CONTACT: VSEOBECNA ZDRAVOTNI POJISTOVNA CESKE REPUBLIKY Orlicka 4/2020 130 00 Praha 3 Phone: 221 751 111 E-mail: info@vzp.cz Web site: http://www.vzp.cz =========== F R A N C E =========== BURGESS NORTON: Management Declares Insolvency ---------------------------------------------- U.S. automotive component manufacturer Burgess Norton is insolvent, according to Les Echos. According to the paper, management has informed workers that the company, based in Vieux-Charmont, will apply for liquidation or composition proceedings to continue operating under a court-appointed administrator. Workers have been on strike since mid-November after learning of management's plan to remove machines from the site. The company employs 70 people. CONTACT: BURGESS NORTON MANUFACTURING CO. Web site: http://www.burgessnorton.com METALEUROP S.A.: Staging Market Comeback Next Week -------------------------------------------------- Non-ferrous metals group Metaleurop S.A. is preparing to return to the stock market, following the confirmation of its continuation plan. Metaleurop went into administration in January 2003, citing financial difficulties at its Metaleurop Nord unit. The confirmation of the continuation plan two months ago followed a favorable decision by the Paris Court of Appeals, which refused to extend the liquidation of Metaleurop Nord. Shares of the company traded at EUR0.54 when suspended, which makes its market capitalization just EUR13 million. It plans to resume trading next week. Metaleurop is one of the top refiners of zinc and lead for the auto and construction industries. In 2004, it posted US$9.5 million in profit on US$274.2 million sales. The company had turnover of EUR225 million last year. CONTACT: METALEUROP S.A. 6 place de la Madeleine 75008 Paris Phone: +33-1-42-99-48-48 Fax: +33-1-42-99-48-99 Web site: http://www.metaleurop.fr ============= G E R M A N Y ============= AEG HAUSGERATE: Union Scores Indifference to Workers' Welfare ------------------------------------------------------------- Talks between AEG Hausgerate and trade union IG Metall over measures to soften the blow for workers at its Nuremberg site are nearing an end, Frankfurter Allgemeine Zeitung says. The negotiations have been ongoing since Swedish parent Electrolux decided with finality in December to abandon the site by 2007. IG Metall, while lamenting the company's lack of options for employees, said it will try to get the best redundancy package for members. Electrolux claims the plant is no longer competitive. In December, Johan Bygge, head of Electrolux's European and Asian business, said: "There is no way to bridge the large cost gap that would make production in Nuremberg competitive." Germany's manufacturing wages, according to Bloomberg News, is the second highest in the world, prompting multinational companies like Electrolux to consider relocating jobs elsewhere. Siemens, Samsung Electronics, and even Deutsche Telekom plan to cut jobs, the latter targeting 32,000 over three years. The closure will affect around 1,700 employees. AEG hopes to reach a deal with IG Metall before spring. Part of Electrolux since 1994, AEG is one of the leading brands in Germany. In 2004, its turnover dropped by 3% to EUR13 billion and operating profit by 13% to EUR712 million. CONTACT: AEG HAUSGERATE GMBH Muggenhofer Strasse 135 D-90429 Nuremberg Phone: (0911) 323-0 Fax: (0911) 323-1770 Web site: http://www.aeg-electrolux.co.uk A. KOLKHORST: Bielefeld Court Appoints Administrator ---------------------------------------------------- The district court of Bielefeld opened bankruptcy proceedings against A. Kolkhorst, Baugeschaft mbH on December 28. 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 Stefan Meyer. Creditors and other interested parties are encouraged to attend the meeting on February 21, 2006, 10:00 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: A. KOLKHORST, BAUGESCHAFT mbH Eichendamm 12, 32369 Rahden Contact: Alfred Kolkhorst, Manager Stefan Meyer, Administrator Ostertorstr. 7, 32312 Luebbecke ALLGEMEINE HYPOTHEKENBANK: Minority Owners Balk at Rehab Plan ------------------------------------------------------------- Dormant shareholders are challenging the recovery plan of Allgemeine Hypothekenbank Rheinboden (AHBR), Handelsblatt says. The shareholders, which include insurers DEVK and Volksfursorge and cooperative bank DZ Bank, are unwilling to bear the cost of the restructuring. They are also raising questions regarding the whereabouts of a EUR584 million trust fund put up by former owners and have hired auditors to review the bank's interim, 2004, and 2005 accounts. Trade union BGAG, the bank's majority owner, sold its stake to Lone Star late last month. The investment firm has promised to inject sufficient capital to support the bank's repositioning beginning FY2006. 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 trade union 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 bank 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 ALTRACO GMBH: Proofs of Claim Due Later this Month -------------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against Altraco GmbH Ingenieurdienstleistungen on December 23. 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 Joachim Buettner. Creditors and other interested parties are encouraged to attend the meeting on February 24, 2006, 10:30 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: ALTRACO GmbH INGENIEURDIENSTLEISTUNGEN Grossmoorring 4, 21079 Hamburg Contact: Dietmar Barainsky, Manager Joachim Buettner, Administrator Osdorfer Landstrasse 230, 22549 Hamburg Phone: 8078810 Fax: 807881-20 CARE TECHNOLOGY: Creditors to Meet Next Month --------------------------------------------- The district court of Charlottenburg opened bankruptcy proceedings against Care technology Nova Plast GmbH on December 12. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 9, 2006 to register their claims with court-appointed provisional administrator Knut Rebholz. Creditors and other interested parties are encouraged to attend the meeting on February 9, 2006, 9:35 a.m. at the district court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report on April 6, 2006, 9:50 a.m. at the same venue. CONTACT: CARE TECHNOLOGY NOVA PLAST GmbH Schonhauser Allee 51,10437 Berlin Knut Rebholz, Administrator Cicerostr. 22, 10709 Berlin CDK-CREATIVE: Under Bankruptcy Administration --------------------------------------------- The district court of Essen opened bankruptcy proceedings against CDK-Creative-Deko-Kozlowski GmbH on January 1. 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 Werner F. Muehlenbrock. Creditors and other interested parties are encouraged to attend the meeting on February 21, 2006, 9:00 a.m. at the district court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG, gelber Bereich, Saal 291, 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: CDK-CREATIVE-DEKO-KOZLOWSKI GmbH Middelicher Str. 305, 45892 Gelsenkirchen Contact: Achim Kozlowski, Manager Werner F. Muehlenbrock, Administrator Bahnhofstr. 46, 45879 Gelsenkirchen Phone: 0209/1779520 Fax: 0209-1779529 DAIMLERCHRYSLER AG: Chrysler Stepping up Capacity ------------------------------------------------- Daimler's Chrysler division is eyeing to raise its annual capacity by up to 43% in 2007, the Associated Press says. The strategy comes just as rivals GM and Ford are reducing production capacity in the U.S. Unlike the two, whose figures were down 4%, Chrysler's sales last year was up 5%. Spokesman David Elshoff said Chrysler will not build new production sites or hire more workers. Instead, it will upgrade existing facilities to boost production. The company expects to produce 3.5 million to 4 million units next year, from last year's total output of 2.8 million. Mr. Elshoff noted market demand will have a great impact on actual production. According to Harbour Report, which measures plant productivity, Chrysler's 13 North American sites ran at 90% capacity in 2004, in contrast to GM and Ford's 85%. Chrysler Group's global vehicle sales increased to 2,826,131 units last year (2004: 2,697,280 units), 4.7%. Sales were up across Chrysler's global regions (U.S., Canada, Mexico and International). Global sales were boosted by the worldwide appeal of products in key segments such as minivans, sport utility vehicles and passenger sedans. CONTACT: DAIMLERCHRYSLER AG 70546 Stuttgart, Germany Phone: +49 711 17 0 Fax: +49 711 17 22244 Web site: http://www.daimlerchrysler.com HEHO WOHNBAU: Duesseldorf Court Calls in Administrator ------------------------------------------------------ The district court of Duesseldorf opened bankruptcy proceedings against HeHo Wohnbau GmbH on January 1. 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 Friedrich Wilhelm Metzeler. Creditors and other interested parties are encouraged to attend the meeting on February 21, 2006, 9:00 a.m. at the district court of Duesseldorf, Hauptstelle, Muehlenstrasse 34, 40213 Duesseldorf, 4. OG. Altbau, A 409, 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: HEHO WOHNBAU GmbH Benrather Schlossallee 111, 40597 Duesseldorf Contact: Reinhold Hoffmann, Manager Arnold-Schonberg-Strasse 2, 40593 Duesseldorf Friedrich Wilhelm Metzeler, Administrator Rheinort 1, 40213 Duesseldorf K&Z LOGISTIK: Essen Business Goes Bankrupt ------------------------------------------ The district court of Essen opened bankruptcy proceedings against K&Z Logistik GmbH on January 1. 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 Rolf Weidmann. Creditors and other interested parties are encouraged to attend the meeting on February 21, 2006, 9:35 a.m. at the district court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG, gelber Bereich, Saal 291, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: K&Z LOGISTIK GmbH Karl-Legien-Str. 3, 45356 Essen Contact: Walter van Acken, Manager Am Schiefers Grund 38 B, 40764 Langenfeld Rolf Weidmann, Administrator Alfredstr. 279, 45133 Essen Phone: 0201/437760 Fax: 02014377620 MBS MASCHINEN: Court to Verify Claims March ------------------------------------------- The district court of Bochum opened bankruptcy proceedings against MBS Maschinen-Bagger-Schiffsbauelemente GmbH on December 31. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 10, 2006 to register their claims with court-appointed provisional administrator Bernd Depping. Creditors and other interested parties are encouraged to attend the meeting on March 16, 2006, 9:35 a.m. at the district court of Bochum, Hauptstelle, Viktoriastrasse 14, 44787 Bochum, Erdgeschoss, Saal A29, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: MBS MASCHINEN-BAGGER-SCHIFFSBAUELEMENTE GmbH Grenzweg 98, 44623 Herne Contact: Michael Murche, Manager Castroper Hellweg 469, 44805 Bochum Bernd Depping, Administrator Kunibertistrasse 9, 45657 Recklinghausen Phone: 02361/58208-88 Fax: 02361/5821591 PROSIEBENSAT.1 MEDIA: Media Regulator Blocks Axel Takeover ---------------------------------------------------------- In its meeting on Jan. 10, 2006 the Commission for Determining Concentration in the Media Sector (KEK) decided that, in relation to the intended takeover of ProSiebenSat.1 Media AG by Axel Springer AG, the prerequisites for the confirmation of non-objection under applicable media-supervisory laws are not given. Reasons for the denial have not been given yet. The State Media Institutions, which are competent to grant and deny, respectively, such confirmation of non-objection vis-a-vis the TV stations of the ProSiebenSat.1 Group, are bound by this decision of KEK unless, upon application of one of the State Media Institutions, the Conference of the Directors of the State Media Institutions (KDLM) renders a deviating decision. Such resolution of KDLM would require a majority of three quarters of its members. In this way, a clearance of the transaction under applicable media-supervisory laws could still be achieved irrespective of the negative decision of KEK. In the parallel proceedings regarding the approval of the transaction by the Federal Cartel Office, Axel Springer AG will have to react by January 12, 2006 to the second preliminary ruling from the Federal Cartel Office dated January 6, 2006 regarding an intended denial of such approval. On August 5, 2005 Axel Springer AG had entered into a share purchase agreement with the current majority shareholder of ProSiebenSat.1 Media AG, P7S1 Holding L.P., regarding the acquisition of all common and preferred stock in ProSiebenSat.1 Media AG held directly or indirectly by P7S1 Holding L.P. By virtue of this acquisition, Axel Springer AG would increase its existing indirect shareholding in ProSiebenSat.1 Media AG from around 12% to 100% of the voting common stock and 25% of the nonvoting preferred stock. The consummation of the share purchase agreement is, however, still subject to approval of the transaction by the antitrust authorities and media regulators. The same is true for the publi c tender offer submitted by Axel Springer AG, which lapsed on November 3, 2005. In case of a definitive denial of the required antitrust and regulatory approval, the transaction including the tender offer would therefore not be consummated. CONTACT: PROSIEBENSAT.1 MEDIA AG PSM Medienallee 7 Deutschland DE-85774 Unterfohring +49 (89) 9507-10 Television Katja Pichler Corporate Spokesperson Phone: +49 (0) 895907 1180 E-mail: Katja.Pichler@ProSiebenSat1.com Web site: http://www.ProSiebenSat1.com SELBSTKLEBETECHNIK GMBH: Aalen Court Names Pluta Administrator -------------------------------------------------------------- The district court of Aalen opened bankruptcy proceedings against Selbstklebetechnik GmbH Kieninger on December 28. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 3, 2006 to register their claims with court-appointed provisional administrator Michael Pluta. Creditors and other interested parties are encouraged to attend the meeting on March 6, 2006, 9:00 a.m. at the district court of Aalen, Saal 0.11, Stuttgarter Strasse 7, 73430 Aalen, 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: SELBSTKLEBETECHNIK GmbH KIENINGER Lindenhofstr. 1, 73529 Schwabisch Gmuend Contact: Xaver and Gertrud Kieninger, Managers Wagnerweg 15, 73547 Lorch Michael Pluta, Administrator Pluta Rechtsanwalts GmbH Karlstr. 33, 89073 Ulm Phone: 0731/96880-0 Fax: 0731/96880-50 E-mail: ulm@pluta.net SK HOTELBETRIEBSGESELLSCHAFT: Falls into Bankruptcy --------------------------------------------------- The district court of Kiel opened bankruptcy proceedings against SK Hotelbetriebsgesellschaft mbH on January 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 2, 2006 to register their claims with court-appointed provisional administrator Jens-Soren Schroder. Creditors and other interested parties are encouraged to attend the meeting on March 23, 2006, 9:00 a.m. at the district court of Kiel, Saal 4, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: SK HOTELBETRIEBSGESELLSCHAFT mbH Hindenburgufer 70, 24105 Kiel Contact: Stephan Kamiski, Manager Jens-Soren Schroder, Administrator Raboisen 38, 20095 Hamburg TC TRUSTCENTER: IT Security Biz Sold to U.S. Firm ------------------------------------------------- U.S. Internet security firm GeoTrust Inc. has acquired the entire assets of insolvent IT security solutions company TC TrustCenter AG for an undisclosed sum. TC TrustCenter was founded in 1997 and was run by Germany's four leading banks: Commerzbank AG, Deutsche Bank AG, Dresdner Bank AG and Bayerische Hypo-und Vereinsbank AG. The company counts among its 3,500 clients HBOS (Halifax Bank of Scotland), Siemens, SAP, Airbus and many government agencies. It filed for insolvency in September and is now being run by a German administrator pending its sale. TC TrustCenter's 50 employees will bring GeoTrust's total workforce to 135. CONTACT: GEOTRUST, INC. Joan Lockhart Phone: 781-292-4153 E-mail: joanl@geotrust.com TC TRUSTCENTER Phone: +49 40 808026-410 E-mail: gunilla.pendt@trustcenter.de SCHWARTZ COMMUNICATIONS, INC. Liz Serotte Phone: 781-684-0770 E-mail: geotrust@schwartz-pr.com Web site: http://www.trustcenter.de/set_de.htm VEREINS DEUTSCHES: Claims Filing Period Ends February 22 -------------------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against Vereins Deutsches Rotes Kreuz Kreisverband Hamburg Mitte e.V. on December 23. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until February 22, 2006 to register their claims with court-appointed provisional administrator Burckhardt Reimer. Creditors and other interested parties are encouraged to attend the meeting on March 22, 2006, 9:35 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: VEREINS DEUTSCHES ROTES KREUZ KREISVERBAND HAMBURG MITTE e.V. Wendenstrasse 254, 20537 Hamburg Contact: Claus Petersen Wuhlenburg 20, 21435 Stelle-Rosenweide Oliver Heggblum Dr. Holger Christier Hans Guenter Andrae Burckhardt Reimer, Administrator Domstrasse 15, 20095 Hamburg Phone: 41522416 Fax: 41522-411 ============= I R E L A N D ============= ELAN CORPORATION: EntreMed Gets Rights to NanoCrystal Technology ---------------------------------------------------------------- Elan Corporation, plc (NYSE: ELN) and EntreMed, Inc. (Nasdaq: ENMD) entered into a License Agreement in which EntreMed has been granted rights to utilize Elan's proprietary NanoCrystal Technology to develop the oncology product candidate, Panzem(R) NCD (2ME2 or 2-methoxyestradiol). Under the terms of the License Agreement, Elan is eligible to receive payments upon the achievement of certain clinical, manufacturing, and regulatory milestones. Additionally, Elan will receive royalty payments based on sales of Panzem(R) NCD. Under the License Agreement and corresponding Services Agreement, Elan will manufacture EntreMed's Panzem(R) NCD, a NanoCrystal Technology formulation with improved bioavailability and absorption. Other marketed pharmaceutical products in the United States utilizing Elan's NanoCrystal Technology include TriCor(R) (marketed by Abbott), Megace(R) ES (marketed by Par Pharmaceuticals), and Rapamune(R) (marketed by Wyeth). In 2004, the parties signed a Clinical Supply Agreement covering the supply of Panzem(R) NCD for Phase 1 trials. These Agreements extend the Panzem(R) NCD supply arrangement to Phase 2 and later trials. Panzem(R) NCD is currently in Phase 1b clinical studies in patients with advanced cancer. EntreMed expects to announce the commencement of multiple Phase 2 trials in early 2006. Paul V. Breen, Executive Vice President, Elan Drug Technologies, said, "We are pleased to extend our relationship with EntreMed. We hope that these agreements will lead to the launch of a new product with unique benefits to cancer patients." EntreMed President and Chief Executive Officer, James S. Burns commented, "These agreements continue our relationship with Elan for further development and manufacturing of Panzem(R) NCD, our lead clinical drug candidate. Interim results from our Phase 1b studies demonstrated that daily dosing with the Elan formulation maintains blood levels of 2ME2 within the desired therapeutic range, allowing us to move forward with Phase 2 clinical trials." Mr. Burns further commented, "Expanding the Elan relationship is a logical next step for EntreMed that provides us with access to process improvements and continuity of supply for further scale-up and clinical development. We look forward to working closely with Elan to meet our development goals and move Panzem(R) NCD towards commercialization." About Elan's NanoCrystal(R) Technology Elan's NanoCrystal Technology is a novel drug delivery technology that offers superior results when coupled with poorly water-soluble compounds. An increasing number of the drug candidates synthesized each year by pharmaceutical companies are poorly water-soluble. Many of these potentially innovative drug candidates are often abandoned because of poor pharmacokinetic properties including absorption, distribution, metabolism, and excretion. NanoCrystal Technology has the potential to rescue a significant percentage of these chemical compounds. Elan's NanoCrystal Technology is part of a suite of technologies, which Elan's Drug Technologies business offers to third party clients. Elan Drug Technologies offers its technology-based solutions to the global pharmaceutical industry. With over 30 products launched in 40 countries, it has a proven track record of delivering success to third party clients. Visit http://www.elan.com/EDTfor more information about Elan Drug Technologies' broad range of technologies, patent estate and range of services. About Elan Elan Corporation plc (NYSE: ELN) -- http://www.elan.com-- is a neuroscience-based biotechnology company. Elan shares trade on the New York, London and Dublin Stock Exchanges. About Panzem(R) NCD 2ME2 is an orally active small molecule that attacks tumor cells through multiple mechanisms of action and blocks the development of new blood vessels that feed tumor cells. Panzem(R) Nanocrystal Colloidal Dispersion (Panzem(R) NCD), an oral liquid formulation, has been shown in pre-clinical studies to significantly increase the drug's bioavailability, which is expected to result in enhanced drug levels of 2ME2 in patients. About EntreMed EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage pharmaceutical company developing therapeutic candidates primarily for the treatment of cancer and inflammation. Panzem(R) (2-methoxyestradiol or 2ME2), the Company's lead drug candidate, is currently in clinical trials for cancer, as well as in preclinical development for non-oncology indications. EntreMed recently announced that it will acquire Miikana Therapeutics, Inc., a clinical-stage oncology company headquartered in Fremont, California. EntreMed's goal is to develop and commercialize new compounds based on the Company's expertise in angiogenesis, cell cycle regulation and inflammation -- processes vital to the treatment of cancer and other diseases, such as rheumatoid arthritis. Additional information about EntreMed is available at http://www.entremed.comand in various filings with the Securities and Exchange Commission. NanoCrystal(R) Technology is a registered trademark owned by Elan Pharma International Limited Corporation, Ireland. Panzem(R) is a registered trademark owned by EntreMed, Inc. TriCor(R) is a registered trademark owned by Abbott Laboratories Corporation. Megace(R) is a registered trademark of Bristol-Myers Squibb Company licensed to Par Pharmaceutical, Inc. Rapamune(R) is a registered trademark owned by Wyeth Pharmaceuticals. CONTACT: ELAN CORPORATION PLC Lincoln House Lincoln Place Dublin2 Ireland Phone: +353 1 709 4000 Fax: +353 1 709 4108 Web site: http://www.elan.com ENTREMED, INC. Communications/IR: Ginny Dunn Phone: 240-864-2643 Web site: http://www.entremed.com ========= I T A L Y ========= ALITALIA SPA: Denies Changes to Merger Timetable ------------------------------------------------ Troubled national carrier Alitalia denied reports it is merging with Air France-KLM ahead of schedule, Reuters reports. The airline says the timeframe has not changed and that it is only continuing its cooperation with Air France through the SkyTeam Alliance. "We reiterate that the two airline companies are continuing their merger plan according to the framework already set out within the context of the SkyTeam alliance and there is no plan being looked at for a short term merger of Alitalia and Air France as reported in the press," Reuters quoted an unnamed Alitalia spokesman. Air France recently shelled out EUR20 million to participate in Alitalia's EUR1 billion capital hike to maintain its 2% stake. There are speculations foreign shareholders will sell their stake, representing 20-25%, to Air France to hasten their merger. 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 AVIO S.P.A.: B+ Rating Affirmed After Senior Debt Refinancing ------------------------------------------------------------- Fitch Ratings has affirmed Italy-based Avio S.p.A.'s (Avio) ratings at Senior Unsecured 'B+' with Stable Outlook and Short term 'B'. Its senior secured debt is affirmed at 'BB'. The agency has also affirmed ASPropulsion Capital B.V.'s EUR200 million 9.625% senior notes due 2013 at 'B', and Aero Invest 1 S.A.'s EUR375 million floating-rate senior payment-in-kind (PIK) notes due 2015 at 'B-'. The rating action follows Avio's announcement to refinance its EUR445 million senior secured bank facilities. Although the refinancing leaves Avio's total drawn debt position largely unchanged, it reduces its undrawn liquidity to EUR94 million from EUR150 million and shortens the senior secured debt's final maturity to five years. This is balanced by Avio's historical ability to reduce debt and deliver a solid operating performance despite difficult conditions in some of its key markets. The Senior Unsecured 'B+' rating reflects Avio's established market position within the European aerospace industry, globally recognized technical expertise, long-standing client relationships, strategic importance to the Italian government and the long-term nature of the projects in which it participates. These are offset by the company's relatively modest size, leveraged capital structure, high exposure to the cyclical civil aerospace industry, heavy customer concentration and the risk of major contract reductions or delays. Reported trailing 12 month EBITDA was EUR180 million at Q305, and Fitch-adjusted LTM EBITDA was EUR189 million, after allowing for add-back of exceptional costs. Avio was free cash flow positive for the nine months to September 2005 and had generated sufficient cash to reduce senior debt to EUR445 million at Q305 from EUR575 million at YE04. The new facilities total EUR456 million in drawn funds, leaving pro-forma senior cash-pay leverage at 2.5x at Q305 (3.2x at YE04), and pro-forma total cash-pay leverage at 3.5x (4.2x at YE04). Pro-forma total leverage at Q305, after accounting for the PIK notes, was 5.6x (6.2x pro-forma at YE04). In view of this reduction in leverage, Fitch expects to review the current ratings following the publication of Avio's year-end results for 2005. Furthermore, Fitch expects to publish recovery ratings for Avio's debt instruments in Q106. Avio is one of the largest Italian groups in the aerospace and defense industry and one of Europe's leading producers of components for aircraft engines and propulsion systems for space launch vehicles. Avio was bought from Fiat S.p.A. in July 2003 by the Carlyle Group and Finmeccanica S.p.A. CONTACT: AVIO S.p.A. c/o The Carlyle Group Milan Via Borgonuovo 12 20121 Milano Italy Phone: 39 02 6200461 Fax: 39 02 2901 3559 FITCH RATINGS Michelle De Angelis, London Phone: +44 (0) 20 7417 3499 Stefano Podesta Phone: +44 (0) 20 7417 4316 Elisabetta Zorzi, Milan Phone: +39 02 87 90 87 213 Media Relations Alex Clelland, London Phone: +44 20 7862 4084 Web site: http://www.fitchratings.com TISCALI S.P.A.: Claiming CZK44 Million Against Cesky Telecom ------------------------------------------------------------ Tiscali S.p.A. has reportedly sued Cesky Telecom over CZK44 million in unpaid invoices. According to a CTK report, the amount represents payments for Internet services due April to September last year. Cesky brushed aside the claim. Spokesman Martin Zabka said the fixed line operator proceeded in line with the price guidelines of Czech Telecoms Office (CTU) and the contract with Tiscali. Prague Daily Monitor, in another report, said that in April, Cesky began paying alternative operators interconnection fees for dial-up Internet access based on the price set by CTU, but Tiscali allegedly demanded a higher fee. Tiscali then sued Cesky before the anti-monopoly office UOHS, which in December fined Cesky CZK205 million (US$8.4 million) for abusing its dominant position in the market. The amount was seven times more than previous fines on any company and the largest ever against a single firm. According to UOHS, Cesky prevented clients from choosing other operators by closely bundling free phone minutes with its ordinary service packages. As a result customers could not easily accurately compare prices and differentiate free and paid minutes, discouraging them from using alternative services. CONTACT: TISCALI S.p.A. Sa Illetta 09122 Cagliari Phone: +39 02 309011 E-mail: ir@tiscali.com Web site: http://www.tiscali.com CESKY TELECOM Olsanska 5, Praha 3, 130 34 Phone: +420 271 411 111 +420 271 461 111 840 114 114 Web site: http://www.telecom.cz =================== K Y R G Y Z S T A N =================== AIREK: Under Bankruptcy Supervision ----------------------------------- The Inter-Regional Court of Bishkek on Economic Issues commenced bankruptcy supervision procedure on LLC Airek on November 25, 2005. The case is docketed as ED-876/05MBc1. Mr. Avtandil Dolbayev has been appointed temporary insolvency manager. CONTACT: AVTANDIL DOLBAYEV Temporary Insolvency Manager Phone: (+996 312) 66-13-23, 66-69-48 EKOSVET: Sets Proofs of Claim Deadline -------------------------------------- LLC Ekosvet, which recently became insolvent, will accept proofs of claim until February 27, 2006. CONTACT: EKOSVET Bishkek, Ibraimova Str. 105 OMEGA-BUSINESS: Gives Creditors Until Next Month to File Claims --------------------------------------------------------------- LLC Omega-Business, which recently became insolvent, will accept proofs of claim until February 27, 2006. CONTACT: OMEGA-BUSINESS Osh, Nikitina Str. 25 Phone: (0502) 44-72-06 REMAXA-SOUTH: Creditors' Claims Due February -------------------------------------------- LLC Remaxa-South, which recently became insolvent, will accept proofs of claim until February 27, 2006. CONTACT: REMAXA-SOUTH Osh, Geologicheskaya Str. 162/5 Phone: (03222) 7-08-76 TECHNO-TRANZIT: Proofs of Claim Deadline Set -------------------------------------------- LLC Techno-Tranzit, which recently became insolvent, will accept proofs of claim until February 27, 2006 CONTACT: TECHNO-TRANZIT Bishkek, Frunze Str. 429b, Office 101 ===================== N E T H E R L A N D S ===================== GETRONICS N.V.: Takes over Mercator's IT Contracts -------------------------------------------------- Mercator Verzekeringen and ICT service provider Getronics have finalized a deal in which Getronics takes over the majority of Mercator Verzekeringen's computer infrastructure and existing ICT contracts. The deal is worth more than EUR10 million, spread over a period of five years. As a result of the agreement, some ten IT staff members are moving from Mercator Verzekeringen to work at the Getronics regional office in Kontich. Mercator is keeping its own IT department, which is responsible for software development and use of the company's mainframe computer. This outsourcing agreement means that Mercator will save 15 percent on the planned IT budget. Through standardization and innovation of the infrastructure, costs will be reduced further to an estimated 20 percent by 2010. Mercator will also be able to lower the operational risks associated with its IT management. Among other things, Getronics will host a backup site where a second IT system will automatically take over production should problems occur in the main infrastructure. "Our operational ICT department became too small to guarantee a sound balance between high quality service, manageable operational risks and an acceptable cost level. The aim of this outsourcing deal is to achieve this equilibrium and to maintain it. Finding a good solution for our staff was by far the most important boundary condition. We are convinced that we can fulfill these goals through partnership with Getronics," says Gert De Winter, CIO of Mercator Verzekeringen. Mercator's choice of Getronics was partly inspired by the cost of the multi-annual project, the working methods and the proven quality and services, the opportunity of improving risk-control incisively quickly and the smooth transfer of personnel from Mercator to Getronics. "Throughout the negotiation process, Getronics always demonstrated flexibility so that it could respond quickly to our specific needs," adds Gert De Winter. Services Getronics provides Mercator with the following services from its standard offering: Workspace Management Services, for on-the-spot and remote management of the entire staff's working environment; Security Services, for the continual monitoring and management of the security of the whole computer infrastructure; Communication Services, with management of the telephony network, switchboards and telephones; and Technology Transformation Services, for the management of servers, networks (WAN/LAN) and storage networks (SAN). To further save on costs and ensure an even more stable computer infrastructure, Getronics has, among other things, started up a consolidation project for the servers, centralization of the helpdesk and security monitoring, and the installation of distribution software to keep Mercator's PC pool as up-to-date as possible remotely. "Mercator has chosen outsourcing services from our core offering, and I am delighted that Getronics has been granted this contract. Apart from the technology and the services that we will be offering Mercator, the compatible corporate culture of our two organisations was an important element in closing this deal, and ensuring it runs smoothly in the future," says Jean-Claude Vandenbosch, General Manager of Getronics Belgium and Luxembourg. Consultancy Morgan Chambers guided Mercator Verzekeringen through the whole outsourcing project. About Getronics With some 27,000 employees in over 30 countries and approximate revenues of EUR3 billion, Getronics is one of the world's leading providers of vendor independent Information and Communication Technology (ICT) solutions and services. Getronics designs, integrates and manages ICT infrastructures and business solutions for many of the world's largest global and local companies and organizations, helping them maximize the value of their information technology investments. Getronics headquarters are in Amsterdam, with regional offices in Boston, Madrid and Singapore. Getronics' shares are traded on Euronext Amsterdam ("GTN"). Visit http://www.getronics.comfor further information about Getronics. About Mercator Mercator Verzekeringen offers a wide range of insurance solutions for private persons and SMEs. An insurer who is just as much at home with life insurance as with non-life insurance. Non-life insurance includes the following products: car, fire, civil liability, liability, accident, and industrial accident insurance. Mercator also has an extensive range of life insurances, more specifically investments and branch 21 products. Mercator works with a network of independent insurance brokers and targets its domestic market Flanders. Mercator's majority shareholder is the Swiss Baloise-Group, which is also active in Austria, Germany and Luxembourg. * * * In May, Standard & Poor's Ratings Services revised its outlook on Getronics N.V. to stable from positive. At the same time, Standard & Poor's affirmed its 'B+' long-term corporate credit and 'B-' senior unsecured debt ratings on the group; and assigned its 'B+' rating and '3' recovery rating to Getronics' EUR300 million (US$388 million) senior secured bank loan, indicating Standard & Poor's expectation of meaningful (50%-80%) recovery of principal in the event of a default. "The outlook revision follows our review of the group's business and financial profiles," said Standard & Poor's credit analyst Patrice Cochelin. "We expect Getronics to again generate weak free cash flow in 2005 after a negative figure in 2004." An upgrade to the 'BB-' category is consequently unlikely in the coming months. Getronics' disappointing revenues in recent months, coupled with gross margins capped at less than 20%, attest to fierce competition in the company's main markets. "Getronics' balance-sheet and liquidity positions are nevertheless expected to continue to merit a slightly higher rating," added Mr. Cochelin. Over the past two months, Getronics completed the acquisition of Dutch competitor Pinkroccade N.V., refinanced its EUR175 million credit facility with a new EUR300 million secured facility (excluding a EUR200 bridge loan), and closed a EUR400 million equity offering to finance the cash component of the acquisition and refinance part of its preferred stock. Pro forma for these transactions, the company's debt will essentially comprise its EUR100 million bond maturing in 2008, a new EUR150 million revolving credit facility due in March 2008, and a EUR75 million acquisition tranche due in March 2008, which will be reduced by EUR25 million in March 2006. "The stable outlook reflects our expectation that restructuring costs will continue to impair Getronics' free cash flow generation in 2005, albeit without threatening its liquidity position. We may change the outlook to positive if Getronics' free operating cash flow generation improves to a sustainable positive figure after restructuring costs. Conversely, if service revenues continue to fall or liquidity weakens materially, we may revise our outlook to negative. Small acquisitions in the company's core business should be accommodated within the current rating," Mr. Cochelin said. CONTACT: GETRONICS N.V. Media Relations Phone: +31 6 22196721 Fax: +31 30 274 7650 E-mail: media@getronics.com Investor Relations Phone: +31 20 586 1982 Fax: +31 20 586 1455 E-mail: investor.relations@getronics.com ROYAL SHELL: Share Buyback Program Continues -------------------------------------------- On 10 January 2006, Royal Dutch Shell plc purchased for cancellation 500,000 'A' Shares at a price of EUR26.88 per share. It further purchased for cancellation 150,000 'A' Shares at a price of 1,838.14 pence per share. Following the cancellation of these shares, the remaining number of 'A' Shares of Royal Dutch Shell plc will be 3,936,677,974. As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell plc were in issue. * * * In 2005, Shell returned US$5 billion to shareholders in 2005 via market purchases of shares. This target included shares purchased for cancellation by The Shell Transport and Trading Company plc and Royal Dutch Petroleum Company prior to the Group unification of US$0.5 billion. The Company expects to continue its buyback program in 2006 and will provide an update on the 2006 buy back program with the full year results announcement on February 2, 2006. Shell's buyback scheme is aimed at reviving shareholders' and investors' confidence. The buyback program follows a damaging reserves overestimation scandal last year. About the Company Royal Dutch Shell plc, incorporated in England and Wales, is headquartered in The Hague and listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 145 countries with businesses including oil and gas exploration and production; production and marketing of Liquefied Natural Gas and Gas to Liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects including wind and solar power. The Trouble Shell admitted overstating proved reserves by almost 6 billion barrels between January 2004 and February 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 =========== P O L A N D =========== STOCZNIA GDYNIA: Prepares to Sell Subsidiary -------------------------------------------- Stocznia Gdynia is planning to sell its subsidiary Stocznia Gdanska, according to Puls Biznesu. Krzysztof Grabowski, Stocznia Gdynia's spokesman, said the two have already signed an agreement regarding their separation. The sale is likely to take at least six months. According to the report, the two still needs to settle, among others, their production cooperation. They also have to lay down plans to the European Commission, which had declared a PLN400 million state aid for Stocznia Gdynia illegal. The Stocznia Gdynia Group has 34 ships orders in the years 2005-2009 worth US$1.53 billion. Stocznia Gdanska is to produce eight of them -- three this year, and another three next year. Stocznia Gdynia has a quota of 12 in 2006, and seven next year. Potential investors in Stocznia Gdanska include German ship owner Stefan Patjens, which is planning to buy harbor equipment for Stocznia Gdanska; a local firm Centromor; and Norwegian shipbuilder Aker. Stocznia Gdynia had net losses of PLN65.1 million in the first half of 2005, while Stocznia Gdanska had PLN18.2 million of net income. CONTACT: GDYNIA SHIPYARD (Stocznia Gdynia S.A.) ul. Czechoslowacka 3 81-969 Gdynia POLAND Phone: (058) 627 77 10 or (058) 627 73 13 Web site: http://www.stocznia.gdynia.pl/ =========== R U S S I A =========== AGRYZ-AGRO-PROM-STROY: Succumbs to Bankruptcy --------------------------------------------- The Arbitration Court of Tatarstan republic commenced bankruptcy proceedings against Agryz-Agro-Prom-Stroy after finding the close joints stock company insolvent. The case is docketed as A65-9179/2005-SG4-16. Mr. I. Zakirov has been appointed insolvency manager. Creditors may submit their proofs of claim to 422540, Russia, Tatarstan republic, Zelenodolsk, Post User Box 566. CONTACT: AGRYZ-AGRO-PROM-STROY 422230, Russia, Tatarstan republic, Agryz, Lesopilnaya Str. 27 I. ZAKIROV Insolvency Manager 422540, Russia, Tatarstan republic, Zelenodolsk, Post User Box 566 ENERGY-MONTAGE: Bankruptcy Hearing Set Next Week ------------------------------------------------ The Arbitration Court of Belgorod region has commenced bankruptcy supervision procedure on limited liability company Energy-Montage. The case is docketed as A08-9135/05-2 "b". Mr. F. Vinnikov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to Russia, Belgorod region, Vezelskaya Str. 156. A hearing will take place on January 17, 2006. CONTACT: ENERGY-MONTAGE Russia, Belgorod region, Streletskoye, Krasnooktyabrskaya Str. 222a F. VINNIKOV Temporary Insolvency Manager Russia, Belgorod region, Vezelskaya Str. 156 KEMEROVSKIY: Claims Filing Period Ends Today -------------------------------------------- The Arbitration Court of Kemerovo region commenced bankruptcy proceedings against Kemerovskiy (TIN 4234000758) after finding the car repair factory insolvent. The case is docketed as A27-9856/2005-4. Mr. A. Kachula has been appointed insolvency manager. Creditors have until January 12, 2006 to submit their proofs of claim to 650501, Russia, Kemerovo region, Muromtseva Str. 1. CONTACT: KEMEROVSKIY 650501, Russia, Kemerovo region, Muromtseva Str. 1 A. KACHULA Insolvency Manager 650501, Russia, Kemerovo region, Muromtseva Str. 1 MOTORIST: Insolvency Manager Takes over Firm -------------------------------------------- The Arbitration Court of Karachaevo-Cherkessiya republic has commenced bankruptcy supervision procedure on open joint stock company Motorist. The case is docketed as 25-2329. Mr. E. Valyuzhinich has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to Russia, Stavropol, Lermontova Str. 343. CONTACT: MOTORIST Russia, Karachaevo-Cherkessiya republic, Ust-Dzheguta E. VALYUZHINICH Temporary Insolvency Manager Russia, Stavropol region, Lermontova Str. 343 OREL-GAS-STROY: Orel Court Opens Bankruptcy Proceedings ------------------------------------------------------- The Arbitration Court of Orel region commenced bankruptcy proceedings against Orel-Gas-Stroy after finding the open joint stock company insolvent. The case is docketed as A48-1041/05-16b. Mr. A. Kostyunina has been appointed insolvency manager. Creditors have until January 12, 2006 to submit their proofs of claim to 127550, Russia, Moscow, Dmitovskoye Shosse, 33, Building 4, Apartment 10. CONTACT: OREL-GAS-STROY 302016, Russia, Orel region, Skulpturnaya Str. 2 A. KOSTYUNINA Insolvency Manager 127550, Russia, Moscow region, Dmitovskoye Shosse 33, Building 4, Apartment 10 PASHINSKIY COMBINE: Declared Insolvent -------------------------------------- The Arbitration Court of Novosibirsk region commenced bankruptcy proceedings against Pashinskiy Combine after finding the building construction company insolvent. The case is docketed as A45-8563/05-4/162. Mr. S. Zhukov has been appointed insolvency manager. Creditors have until January 12, 2006 to submit their proofs of claim to 630087, Russia, Novosibirsk, Post User Box 116. CONTACT: PASHINSKIY COMBINE 630086, Russia, Novosibirsk region, Selenginskaya Str. 1-A S. ZHUKOV Insolvency Manager 630087, Russia, Novosibirsk region, Post User Box 116 SIEMENS: Insolvency Manager Enters Firm --------------------------------------- The Arbitration Court of Saint-Petersburg and the Leningrad region commenced bankruptcy proceedings against Siemens after finding the close joint stock company insolvent. The case is docketed as A56-38409/2005. Mr. V. Chibirev has been appointed insolvency manager. CONTACT: SIEMENS 194292, Russia, Saint-Petersburg, Promzone Parnas, Domostroitelnaya Str. 10 V. CHIBIREV Insolvency Manager 199226, Russia, Saint-Petersburg, Post User Box 32 TUKANSKOYE MINE: Undergoes Bankruptcy Supervision Procedure ----------------------------------------------------------- The Arbitration Court of Bashkortostan republic has commenced bankruptcy supervision procedure on limited liability company Tukanskoye Mine Management (TIN 0256007936). The case is docketed as A07-11915/05-G-KhRM/FLE. Mr. D. Karavaev has been appointed temporary insolvency manager. CONTACT: TUKANSKOYE MINE MANAGEMENT 453500, Russia, Bashkortostan republic, Beloretskiy region, Tukan, Matrosova Str. 1 D. KARAVAEV Temporary Insolvency Manager 450057, Russia, Bashkortostan republic, Ufa, Oktyabrskoy Revolyutsii Str. 65, Room 14 TYUMEN-OIL-GAS-MASH: Bankruptcy Hearing Set Today ------------------------------------------------- The Arbitration Court of Tyumen region has commenced bankruptcy supervision procedure on limited liability company Tyumen-Oil-Gas-Mash. The case is docketed as A-70-8586/3-05. Ms. T. Isaeva has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 625046, Russia, Tyumen region, Motostroiteley Str. 14, Building 1, Office 1. A hearing will take place on January 12, 2006, 10:30 a.m. at Russia, Tyumen region, Khokhryakova Str. 77. CONTACT: T. ISAEVA Temporary Insolvency Manager 625046, Russia, Tyumen region, Motostroiteley Str. 14, Building 1, Office 1 VILYUYSKOYE ENTERPRISE: Bankruptcy Supervision Begins ----------------------------------------------------- The Arbitration Court of Sakha republic - Yakutiya has commenced bankruptcy supervision procedure on open joint stock company Vilyuyskoye Enterprise #1. The case is docketed as A58-5815/05. Mr. A. Lebedev has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to: (a) VILYUYSKOYE ENTERPRISE #1 Russia, Sakha republic - Yakutiya, Vilyuysk, Amosova Str. 14 (b) A. LEBEDEV Temporary Insolvency Manager 677015, Russia, Sakha republic - Yakutiya, Yakutsk, 8th March Str. 65 A hearing will take place on January 27, 2006 at 10:15 a.m. ===================== S W I T Z E R L A N D ===================== SWISS INTERNATIONAL: Seat Load Factor Improves Significantly ------------------------------------------------------------ Swiss International achieved an annual seat load factor for 2005 of 78.1%, a substantial 3.2-percentage-point improvement on the 74.9% recorded for the previous year. The increase was due to higher annual seat load factors on both intercontinental services (up 2.7 percentage points to 84.0%) and European routes (up 5.1 percentage points to 65.9%). Total passenger volume for 2005 stood at around 9.6 million, a 4.1% increase on the previous year. System-wide seat load factor for December 2005 amounted to 74.9%, a 1.4-percentage-point improvement on the prior-year period. The modifications to the route network, the schedule enhancements effected and the changes made to the aircraft fleet structure all had a positive impact on SWISS' seat load factors for 2005. The company's flights posted an average seat load factor of 78.1% for the year, a 3.2-percentage-point improvement on the prior-year result. Around 9.6 million passengers traveled with SWISS in 2005, a 4.1% increase on the previous year. While the company offered 4.7% less capacity year-on-year in available seat kilometer (ASK) terms, total traffic volume in revenue passenger kilometer (RPK) terms declined by only 0.6% over the same period. Annual seat load factor improved accordingly. Seat load factor for December 2005 amounted to 74.9%, up 1.4 percentage points on the same month in 2004. SWISS' 2005 annual seat load factor on intercontinental services totaled 84.0%, 2.7 percentage points up on the previous year. While ASK capacity was down 6.8% from its prior-year-level, total RPK traffic volume declined by 3.6% - far less than the ASK reduction. Intercontinental seat load factors showed positive trends for most of 2005. Slight declines were sustained with the start of the winter schedules in the fourth-quarter period, as a result of intensified competitive pressure on various routes. Seat load factor for December also slipped one percentage point to 80.8%. December Far East services saw a 1.1-percentage-point seat load factor improvement to 85.4%. North Atlantic services for the month generated a seat load factor of 82.4%, a 1.9-percentage-point decline on December 2004. Monthly seat load factor for African services sustained a 5.2-percentage-point decline to 72.2%. Flights to the Middle East posted a 2.2-percentage-point improvement in seat load factor for the month, which stood at 71.6%. December services to South America reported a seat load factor of 84.5%, 0.7 percentage points down on their prior-year level. Seat load factor on SWISS' European services recorded a 5.1-percentage-point year-on-year increase for 2005 and stood at 65.9%. With ASK capacity virtually unchanged (0.1% down) from 2004, the company generated a substantial 8.3% increase in RPK traffic volume. SWISS' business drive in Europe also had a positive effect on seat load factor trends. While 8.2% fewer flights were operated than the previous year, total ASK capacity for 2005 was only 0.1% below its prior-year level. The use of larger-capacity aircraft and the corresponding reduction in unit costs per available seat kilometer provided SWISS with vital scope for responding to its intra-European competitors. These endeavors were reflected in seat load factor for December 2005, which, at 62.2%, was a 6.7-percentage-point improvement on the prior-year period. SWISS' cargo business continued to develop favorably overall in 2005, despite a tangible toughening of the competitive environment. Cargo load factor (by volume) remained stable at a high 86.5% (down 0.1 percentage points on 2004). The total cargo volume handled by Swiss World Cargo amounted to around 1.14 billion cargo tonne-kilometers, an 0.5% improvement on the previous year. Key SWISS scheduled services results for January to December 2005 Total passengers carried 9,564,506 Total flights performed 133,717 Available seat-kilometers (million) 26,193 Revenue passenger-kilometers (million) 20,469 Seat load factor 78.1% CONTACT: SWISS INTERNATIONAL Corporate Communications P.O. Box, CH-4002 Basel Phone: +41 (0) 848 773 773 Fax: +41 (0) 61 582 3554 E-mail: communications@swiss.com Web site: http://www.swiss.com ============= U K R A I N E ============= AGROPROMTEHNIKA: Declared Insolvent ----------------------------------- The Economic Court of Zhitomir region commenced bankruptcy proceedings against Agropromtehnika (code EDRPOU 00903363) on November 8, 2005 after finding the open joint stock company insolvent. The case is docketed as 4/118 B. Mr. Mikola Malishonok (License Number AA 783069) has been appointed liquidator/insolvency manager. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) AGROPROMTEHNIKA 13200, Ukraine, Zhitomir region, Chudnivskij district, Krasnopil, Molodizhna Str. 6 (b) MIKOLA MALISHONOK Liquidator/Insolvency Manager Phone: 8 (067) 968-64-06 (c) ECONOMIC COURT OF ZHITOMIR REGION 10002, Ukraine, Zhitomir region, Putyatinski Square 3/65 ENERGETIC-NKZ: Bankruptcy Supervision Starts -------------------------------------------- The Economic Court of Dnipropetrovsk region has commenced bankruptcy supervision procedure on CJSC Energetic-NKZ (code EDRPOU 31384510). The case is docketed as B15/149/05. Mr. Dmitro Komarnitskij (License Number AB 116109) has been appointed temporary insolvency manager. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) ENERGETIC-NKZ Ukraine, Dnipropetrovsk region, Nikopol, Karl Libkneht Str. 169 (b) DMITRO KOMARNITSKIJ Temporary Insolvency Manager 49099, Ukraine, Dnipropetrovsk region, Korobov Str.1/56 Phone: 8 (067) 562-24-00 (c) ECONOMIC COURT OF DNIPROPETROVSK REGION 49600, Ukraine, Dnipropetrovsk region, Kujbishev Str. 1a KOMETEKS LTD.: Creditors' Claims Due Weekend -------------------------------------------- The Economic Court of Harkiv region commenced bankruptcy proceedings against Kometeks Ltd. (code EDRPOU 22635199) on December 1, 2005 after finding the limited liability company insolvent. The case is docketed as B-48/89-05. Mr. V. Vakulenko (License Number AA 176218) has been appointed liquidator/insolvency manager. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) KOMETEKS LTD. Ukraine, Harkiv region, Peremogi Avenue 72-B/137 (b) V. VAKULENKO Liquidator/Insolvency Manager 61045, Ukraine, Harkiv region, Sheakspere Str. 12-A/5-A Phone: 773-01-30 (c) ECONOMIC COURT OF HARKIV REGION 61022, Ukraine, Harkiv region, Svobodi Square 5, Derzhprom 8th Entrance LUGRESURS: Appoints Insolvency Manager -------------------------------------- The Economic Court of Lugansk region commenced bankruptcy proceedings against Lugresurs (code EDRPOU 23490863) on November 29, 2005 after finding the limited liability company insolvent. The case is docketed as 20/170b(19/93b). Mr. Andrij Golosov (License Number AA 216813) has been appointed liquidator/insolvency manager. The company holds account number 26002010180420 at JSB Brokbiznesbank, Lugansk branch, MFO 304632. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) LUGRESURS 91000, Ukraine, Lugansk region, Sosyura Str. 137 (b) ANDRIJ GOLOSOV Liquidator/Insolvency Manager 91019, Ukraine, Lugansk region, Kirov Str. 18/12 Phone: 8 (0642) 52-74-93 (c) ECONOMIC COURT OF LUGANSK REGION 91000, Ukraine, Lugansk region, Geroiv VVV Square 3a RIVNE' BREAD: Declares Bankruptcy --------------------------------- The Economic Court of Rivne region commenced bankruptcy supervision procedure on OJSC Rivne' Bread Combine (code EDRPOU 0551521) on November 15, 2005. The case is docketed as 4/45. Ms. Irina Dragun (License Number AA 719819) has been appointed temporary insolvency manager. The company holds account number 26005962480869 at CJSC First Ukrainian International Bank, Kyiv branch, MFO 322755. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) RIVNE' BREAD COMBINE 33011, Ukraine, Rivne region, Kikvidze Str. 66 (b) IRINA DRAGUN Temporary Insolvency Manager Ukraine, Rivne region, Soborna Str. 34/14 (c) ECONOMIC COURT OF RIVNE REGION 33001, Ukraine, Rivne region, Yavornitski Str. 59 ZOLOTE RUNO: Under Bankruptcy Supervision ----------------------------------------- The Economic Court of AR Krym region commenced bankruptcy supervision procedure on OJSC Zolote Runo (code EDRPOU 00412783) on November 28, 2005. The case is docketed as 2-29/6678.2-2005. Mr. R. Trubo (License Number AB 116202) has been appointed temporary insolvency manager. The company holds account number 260026482 at JSPPB Aval, Krim regional branch, MFO 324021. Creditors have until January 14, 2006 to submit their proofs of claim to: (a) ZOLOTE RUNO Ukraine, AR Krym region, Kirovskij district, Zolote Runo, Tsentralna Str. 16 (b) R. TRUBO Temporary Insolvency Manager Ukraine, AR Krym region, Feodosiya, Garnayev Str. 9 (c) THE ECONOMIC COURT OF AR KRYM REGION 95000, Ukraine, AR Krym region, Simferopol, Karl Marks Str. 18 =========================== U N I T E D K I N G D O M =========================== ALEXON GROUP: Christmas Trading Fails to Lift 2nd-half Results -------------------------------------------------------------- Alexon Group plc has disclosed that like-for-like sales for the 23 weeks ended 7 January 2006 were 2.1% down on the previous year. There was a mixed performance across the Group's divisions. Bay Trading continued its recovery achieving strong margin and sales growth. Alexon Brands was satisfactory overall although the launch of the new Mandolin brand has proved disappointing. Dolcis and Menswear both underperformed in the key Christmas period, resulting from a weak product offer and a difficult trading environment. While the anticipated gross margin for the year will be level with last year, stock levels are slightly higher than planned and appropriate action is being taken. We anticipate that operating profit before interest for the year ending 28 January 2006 will be between GBP19.5 million and GBP20.5 million. This compares with GBP31.6 million in the prior year (before exceptional costs of GBP2.2 million), and is within the range of current market forecasts. The preliminary results for the year ending 28 January 2006 will be announced on 27 March 2006. CONTACT: ALEXON GROUP PLC 40-48 Guildford Street Luton Bedfordshire England LU1 2PB Phone: +44 1582 723131 Fax: +44 1582 399864 AMBERLEE UK: Administrator from Bond Partners Moves in ------------------------------------------------------ T. Papanicola (IP No 005496) of Bond Partners LLP was appointed administrator of Amberlee UK Ltd. (Company No 04367054) on Dec. 19. Amberlee Bus and Coach Services -- http://www.amberlee.co.uk/-- is based in Kent and is currently serving the southeast routes. CONTACT: AMBERLEE UK Unit 1, Manor Way Lower Road Northfleet, Kent DA11 9BB Phone: (01474) 356000 BOND PARTNERS LLP The Grange 100 High Street London N14 6TG Phone: 020 8444 2000 Fax: 020 8444 3400 APP AUTOMOTIVE: Meeting of Creditors Set Today ---------------------------------------------- Creditors of APP Automotive Limited (Company No 05303614) will meet on January 12, 2006, 11 a.m. at UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to A. Andronikou, joint administrator of UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH. APP Automotive Limited formerly traded as St Georges Cars Limited. CONTACT: ST GEORGES CARS LTD. 2 Berrys La, Byfleet, West Byfleet, KT14 7AU Phone: 01932 350111 UHY HACKER YOUNG St Alphage House, 2 Fore Street, London EC2Y 5DH Phone: 020 7216 4600 Fax: 020 7638 2159 BELIMO LTD.: Liquidator from Begbies Traynor Moves in ----------------------------------------------------- Belimo Limited informs that a resolution to wind up the company was passed at an EGM held on Nov. 30 at The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG. Lloyd Biscoe of Begbies Traynor, The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG was appointed liquidator. CONTACT: BELIMO LIMITED 12 Boss Hall Road, Ipswich Suffolk IP1 5BN Phone: 01473 462716 Fax: 01473 462718 BEGBIES TRAYNOR The Old Exchange, 234 Southchurch Road Southend-on-Sea SS1 2EG Phone: 01702 467255 Fax: 01702 467201 E-mail: southend@begbies-traynor.com Web site: http://www.begbies.com BEST BLOOMS: Creditors Meeting Set Next Week -------------------------------------------- Creditors of Best Blooms Wholesale Flowers & Plants Ltd. (Company No 02933548) will meet on January 17, 2006, 2 p.m. at UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to A. Andronikou, joint administrator of UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH not later than 12 noon, January 16, 2006. CONTACT: BEST BLOOMS WHOLESALE FLOWERS & PLANTS LTD. Western International Market, Hayes Road, Southall, Middlesex UB2 5XF Phone: 02085693454 UHY HACKER YOUNG St Alphage House, 2 Fore Street, London EC2Y 5DH Phone: 020 7216 4600 Fax: 020 7638 2159 CHARACTER GROUP: Trading Upturn Carries on into the New Year ------------------------------------------------------------ The Character Group plc has revealed that the improvement in trading witnessed at the end of last year continued into this new financial year. Overall, Group sales for the first four months of the current financial year ending 31 August 2006, which includes the important Christmas trading period, have exceeded expectations, with like-for-like sales nearly 60% ahead of the same period last year. Although the Group has been operating in a difficult and very competitive trading environment for some considerable time, the business has made substantial progress both operationally and in terms of sales. Based on the Group's performance in the first four months of this financial year, coupled with the current strong portfolio of products in the Toys, Games and Gifts division, the Directors are confident that further progress will be achieved throughout the year as a whole. Shareholders will be kept up-to-date with developments. CONTACT: CHARACTER GROUP PLC 2nd Floor 86-88 Coombe Road New Malden Surrey, KT3 4QS Registered No: 3033333 Phone: 44 (0) 20 8949 5898 Fax: 44 (0) 20 8336 2585 Web site: http://www.charactergroup.plc.uk CLYDESDALE BANK: Branch Closures Continue ----------------------------------------- Clydesdale bank closed its Whitehaven branch on Tuesday as part of a commitment to decrease its high street presence. Owner National Australia Bank is cutting the number of its branches from 217 to 153 as people abandons traditional banking to Internet and telephone method of transacting business. It is closing 30 branches in Scotland, and 17 in England. The Whitehaven branch's three full-time staff and accounts will be transferred to the Workington branch. NAB has previously assured Clydesdale Bank employees there would be no compulsory redundancies. ONTACT: CLYDESDALE BANK Banking Hall 30 St. Vincent Place Glasgow G1 2HL Phone: 0141 951 7000 Web site: http://www.cbonline.co.uk CONTROL ENGINEERING: Calls in Administrator ------------------------------------------- T. Papanicola (IP No 005496) of Bond Partners LLP was appointed administrator of Control Engineering (Derby) Limited (Company No 01970101) on Dec. 21. Control Engineering -- http://www.controlderby.com/-- makes process control equipment. CONTACT: CONTROL ENGINEERING (DERBY) LTD. Unit 4 Centurion Way Business Park Alfreton Road, Derby DE21 4AY United Kingdom Phone: (01332) 341953 Fax: (01332) 291873 BOND PARTNERS LLP The Grange 100 High Street London N14 6TG Phone: 020 8444 2000 Fax: 020 8444 3400 INTERTEK GROUP: Unit Signs PSI Deal Extension with Mozambique ------------------------------------------------------------- Intertek Foreign Trade Standards, a division of Intertek Group plc, has signed an 18-month extension to its inspection contract with the Government of Mozambique. The comprehensive contract covers the provision of Preshipment Inspection (PSI), training support, and the operation of seven customs support teams based throughout the country. Intertek Foreign Trade Standards Chief Executive Rob Dilworth said: "We are delighted to have been asked to continue our provision of services by the Government. The Intertek service contains a wide range of technical and service innovations, such as customs support teams. For 10 years we have provided a first class service to the Mozambique Government and have played a significant part in the development of Mozambique Customs and revenue collections." Intertek has operated over 25 PSI programs around the world. This includes programs in 10 different African countries. About the Group Intertek is an international testing, inspection and certification organization, which assesses customers' products and commodities against a wide range of safety, regulatory, quality and performance standards and certifies the management systems of customers. Intertek has 294 laboratories and over 13,500 people around the world and is increasingly undertaking outsourced testing work for its customers. At the end of 2004, Intertek's shareholders' funds remained negative at GBP3.6 million, but down from -GBP43.1 million at 31 December 2003. The deficit stems principally from the write-off of goodwill in 1996 when the Group was purchased from its former owners. This amounted to GBP229.9 million at 31 December 2004. The Group's net debt at 31 December 2004 was GBP112.4 million compared to GBP132.2 million. CONTACT: INTERTEK GROUP PLC 25 Savile Row London W1S 2ES, United Kingdom Phone: +44-20-7396-3400 Fax: +44-20-7396-3480 Web site: http://www.intertek.com INTERTEK GROUP: To Unveil Preliminary Results March --------------------------------------------------- Intertek Group plc has now entered its closed period and will announce preliminary results for the year ended 31 December 2005 on 6 March 2006. Annual General Meeting will be held on 12 May 2006, while Interim Results 2005 announced on 4 September 2006. About the Group Intertek is an international testing, inspection and certification organization, which assesses customers' products and commodities against a wide range of safety, regulatory, quality and performance standards and certifies the management systems of customers. Intertek has 294 laboratories and over 13,500 people around the world and is increasingly undertaking outsourced testing work for its customers. At the end of 2004, Intertek's shareholders' funds remained negative at GBP3.6 million, but down from -GBP43.1 million at 31 December 2003. The deficit stems principally from the write-off of goodwill in 1996 when the Group was purchased from its former owners. This amounted to GBP229.9 million at 31 December 2004. The Group's net debt at 31 December 2004 was GBP112.4 million compared to GBP132.2 million. CONTACT: INTERTEK GROUP PLC 25 Savile Row London W1S 2ES, United Kingdom Phone: +44-20-7396-3400 Fax: +44-20-7396-3480 Web site: http://www.intertek.com J. A. MARSHALL: Names Begbies Traynor Administrator --------------------------------------------------- G. N. Lee and S. L. Conn (IP Nos 009204, 001762) of Begbies Traynor were appointed joint administrators of J. A. Marshall & Co. (Brushes) Limited (Company No 00519718) on Dec. 23. Its registered office is at Blackfriars House, Parsonage, Manchester M3 2JA. CONTACT: J A MARSHALL & CO BRUSHES LTD. Parkside House, 21-23 Bent Lane, Manchester, Lancashire M25 1DL Phone: 01617987273 BEGBIES TRAYNOR Elliot House 151 Deansgate Manchester M3 3BP Phone: 0161 839 0900 Fax: 0161 839 7436 E-mail: manchester@begbies-traynor.com Web site: http://www.begbies.com JOHN LAING: Blames Cash-flow Troubles for Insolvency ---------------------------------------------------- Blair Nimmo and Tony Friar of KPMG Corporate Recovery were appointed as joint receivers of John Laing of Hawick Limited on Monday, 9 January 2006, following a request by the Company's directors. The company, which manufactures high quality cashmere garments, had been experiencing difficulties for some time. Established in 1831, the business employs 95 staff at their premises in Hawick and has an annual turnover of cGBP3.5 million. Statement of Blair Nimmo Head of KPMG Corporate Recovery in Scotland The business had been incurring significant losses over the last few years, largely due to some bad debts and increased foreign competition. Recent cash flow difficulties left the Directors with no choice but to the request the appointment of receivers. Regrettably the joint receivers have had to make 52 staff redundant with immediate effect. The company will continue to trade under the control of the joint receivers whilst we pursue a sale of the business as a going concern. John Laing of Hawick is a long established business with an excellent reputation, and we are hopeful that with the support of customers, suppliers and the remaining staff (43), we can preserve the business as a going concern and quickly find a buyer, therefore safeguarding as many of the remaining jobs as possible. Anyone with any interest in acquiring the business should contact Tony Friar. CONTACT: JOHN LAING OF HAWICK LIMITED Slitrig House, 8-9 Slitrig Crescent Hawick TD9 0EN Phone: 01450 372909 Fax: 01450 378744 Web site: http://www.laingcashmere.com Allan Barr PR Manager, Scotland, KPMG Phone: 0141 300 5896 Mobile: 07796 181 043 E-mail: allan.barr@kpmg.co.uk KPMG Press Office Phone: 0207 694 8773 Blair Nimmo Corporate Recovery Partner, KMPG Scotland Phone: 0131 527 6672 Mobile: 07774 617582 Tony Friar Phone: 0141 226 5511 LANGBAR INTERNATIONAL: Shareholders Suspect Short-selling --------------------------------------------------------- Investors in Langbar International plans to sue the firm's brokers if they fail to achieve a settlement for past share trades, according to Accounting Age. They suspect short-selling, and wants to recoup millions of pounds they lost when Langbar was suspended pending a fraud investigation. Langbar transactions have not been settled on time, and some shareholders think it might be because the shares have been traded by market makers who actually did not posses the shares physically, or had not received them. Brokers and market makers blamed the suspension of Langbar for the problem, but Nigel Smith, who is advising private shareholder body the Langbar Action Group, does not believe so. "The suspension of a share is not a barrier to settlement, and according to stock exchange rules market makers brokers should use any and all means to settle on time...By failing to deliver shares they are in breach of contract," Mr. Smith said. Langbar's largest shareholder is Gartmore, followed by retail investors who hold a total of about 8.5 million shares, and by institutional investor Merrill Lynch. About the Company Langbar International -- http://www.langbar.com/-- is an independent management and investment firm. Formerly Crown Corporation, it was renamed Langbar after Stuart Pearson became chief executive in June. Headquartered in Bermuda, Langbar International operates internationally, and is listed in London on the Alternative Investment Market of the London Stock Exchange. It has investments in Argentina, Canada, Russia, Eastern Europe, Spain and Portugal. The company is under investigation for fraud in relation to the disappearance of the firm's GBP365 million cash deposits in Banco do Brazil in Sao Paulo. It has replaced Spanish firm Gironella Velasco with Deloitte as auditor. CONTACT: LANGBAR INTERNATIONAL LIMITED Head Office Reed House 31 Church Street Hamilton HM12 Bermuda Phone: +1 (441) 295-3631 E-mail: info@langbar.com KROLL EUROPE, MIDDLE EAST & AFRICA 10 Fleet Place London EC4M 7RB United Kingdom Phone: 44 (0) 207 029 5000 Fax: 44 (0) 207 029 5001 GLOBAL MARINE ENERGY PLC Phone: 01274 531 862 Philip Wood, Chairman NOBLE & COMPANY LIMITED Phone: 0131 225 9677 Adam Westcott BANKSIDE CONSULTANTS Phone: 0207 367 8888 Michael Padley/Susan Scott LEWIS & MANLEY: Metal Parts Maker Winds up ------------------------------------------ C. D. Manley, chairman of Lewis & Manley (Engineering) Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 30, 2005 at Dewey & Co, 17 St Andrews Crescent, Cardiff CF10 3DB. P. R. Dewey of Dewey & Co., 17 St Andrews Crescent, Cardiff CF10 3DB was appointed liquidator. CONTACT: LEWIS & MANLEY (ENGINEERING) LIMITED East Bank Road, Felnex Industrial Estate Newport, Gwent NP19 4PP Phone: 01633 276800 01633 271301 MARKS & SPENCER: U.K. Sales Up 4.8% ----------------------------------- Marks & Spencer Group plc has released a trading statement for the 13 weeks to 31 December 2005. U.K. sales for the 13 weeks to 31 December 2005 were +4.8% in total with General Merchandise +2.1% and Food +7.9%. Within this Clothing was +1.9% and Home +3.8%. Full price sales of General Merchandise were up 5.3% compared with 0.4% last quarter. This was an encouraging performance against comparatives, which included two "mega-days" last year. The trend improved as the quarter progressed with sales in the Christmas period being particularly strong. We have made progress across all areas of the business through better buying, better values and tight control of inventory, with around 35% less stock going into our post-Christmas clearance than last year. Our Food business had a strong Christmas reflecting the quality and innovation of our ranges. Stuart Rose, chief executive, said: "This has been an encouraging quarter. Looking ahead, we expect the market to remain challenging. Moreover, we are facing increasing cost pressures. Costs of fuel, utilities, rent and rates have risen sharply and will have an impact next year. "We remain focused on product, service and environment. We are undertaking a substantial program of store development and expect to have over 30% of our store portfolio in the new format by the end of 2006. We are on track against our plan although there remains much to do." The Board has also appointed David Michels as a non-executive director with effect from 1 March 2006. Mr. Michels has held a number of senior positions in the leisure industry most recently as Group Chief Executive of Hilton Group plc. He is a non-executive Director of British Land plc. Marks and Spencer Group plc's Q4 trading statement for the 13 weeks to 1 April 2006 will be announced on 11 April 2006. CONTACT: MARKS & SPENCER GROUP PLC Michael House 47-67 Baker Street London England W1U 8EP Phone: +44 20 7935 4422 Fax: +44 20 7487 2679 Web site: http://www.marksandspencer.com MARLOW ROPES: FKI Buys Marine, Offshore Ropes Business ------------------------------------------------------ FKI plc has acquired the Marine and Offshore Ropes business of Marlow Ropes Ltd. from the Administrative Receivers for a consideration of GBP1.1 million payable at completion. The Business is a market leader in high performance fiber ropes for Offshore and Single Point Mooring applications. The acquisition will be highly complementary for FKI's steel-wire rope manufacturer, Bridon and will extend Bridon's product offering in specialized mooring systems, to include both steel wire rope and fiber rope solutions. Bridon and the Business share many similar customers who will be better served by the combined business. In the ten months to September 2005, the Business had sales of GBP10.3 million and was loss-making, but is expected to be approximately breakeven in FKI's first year of ownership. * * * The Governor and Company of the Bank of Scotland appointed Fraser James Gray (Office Holder No 008905) and Peter Mark Saville (Office Holder No 009029) joint administrative receiver of Marlow Ropes Limited (Reg No 00304545) on Nov. 10. Marlow Ropes -- http://www.marlow-ropes.com-- is a manufacturing company servicing the global marine and offshore markets with a diverse range of light-weight synthetic fiber ropes, fender and buoyancy products, for towage, mooring, sub- sea installation and recovery operations. The company employs 320 staff. CONTACT: MARLOW ROPES LTD. South Road Diplocks Way Industrial Estate Hailsham BN27 3JS East Sussex Phone: 01323 847234 Fax: 01323 440093 KROLL GLASGOW Afton House 26 West Nile Street Glasgow, Scotland G1 2PF United Kingdom Phone: 44 (0) 141 248 1250 Fax: 44 (0) 141 248 1262 Web site: http://www.krollworldwide.com KROLL LIMITED 10 Fleet Place London EC4M 7RB United Kingdom Phone: 44 (0) 207 029 5000 Fax: 44 (0) 207 029 5001 Web site: http://www.krollworldwide.com FKI PLC Falcon Works P.O. Box 7713 Meadow Lane Loughborough Leicestershire LE11 1ZF Phone: +44 (0) 20 7832 0000 Fax: +44 (0) 20 7832 0001 Web site: http://www.fki.co.uk MERIDIAN WINDOWS: Files for Liquidation --------------------------------------- J. R. Weaver, director of Meridian Windows & Doors Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 25, 2005 at Irwin & Company, Station House, Midland Drive, Sutton Coldfield, West Midlands B72 1TU. Gerald Irwin of Irwin & Company, Station House, Midland Drive, Sutton Coldfield, West Midlands B72 1TU was appointed liquidator. CONTACT: MERIDIAN WINDOWS & DOORS LIMITED Unit 1 Birmingham Road Millisons Wood Coventry West Midlands CV5 9AZ United Kingdom Phone: +44 01676 522904 Fax: +44 01676 521559 Web site: http://www.meridianwindows.com IRWIN & COMPANY Station House Midland Drive Sutton Coldfield Birmingham West Midlands B72 1TU Phone: 08700 111812 Fax: 08700 111813 E-mail: mail@irwinuk.net MG ROVER: Nanjing in Final Talks over Investment ------------------------------------------------ The future of MG Rover may be decided next week, as talks between Chinese owner Nanjing Automobile (Group) Corp. and its British partner are almost completed. The deal between Nanjing and GB Sports Car Company will see the production of MG Cars at Rover's Longbridge site. However, whether GB Sports' financial backers will support the agreement remains uncertain, according to the Financial Times. The paper quoted a person close to the negotiations as saying: "Everything in principle is agreed. It is now up to the investors to actually put their cheques on the table." GB Sports Head Fraser Welford-Winton, who has been in touch with British investors this week, will meet U.S.-based financial backers early next week. Meanwhile, Auto Industry said Nanjing moving ahead with plans to manufacture cars based on MG Rover 75 and TF designs despite its ongoing row with Shanghai Automotive Industry Corp. over intellectual property rights. Nanjing is said to be eyeing to produce 13,000 cars based on the Rover 75/MG ZT and 7,000 MG TF convertibles by 2007 both in China and at Longbridge. Automotive News, in another report, said by 2011, Nanjing plans to assemble 85,000 MG 7s annually and 25,000 MG TFs. It also eyes obtaining as many components as possible in China to save on production cost. Nanjing and SAIC will eventually be forced to work together on Rover-based cars, according to industry insiders. Sources have disclosed the Chinese government has already told to the two firms to cooperate. In April of last year, the Longbridge plant was shut down following the collapse of MG Rover due to financial troubles. Nanjing acquired the carmaker's assets in July for GBP54 million. CONTACT: MG ROVER GROUP LIMITED Longbridge, Bickenhill Birmingham B31 2TB, United Kingdom Phone: +44-121-475-2101 Fax: +44-121-482-2403 Web site: http://www1.mg-rover.com NANJING AUTOMOBILE (GROUP) CORPORATION General Management Division Phone: 86-25-3432671 Fax: 86-25-3111295 3417873 E-mail: bnj3111037@jlonline.com Web site: http://www.nanqi.com.cn M L T PITTS: Non-life Insurance Firm Liquidates ----------------------------------------------- R. J. G. Sutcliffe, director of M L T Pitts (Worcester) Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 30 at Ward & Co, Bank House, 7 Shaw Street, Worcester WR1 3QQ. B. J. Ward of Ward & Co. Bank House, 7 Shaw Street, Worcester WR1 3QQ was appointed liquidator, and his remuneration was set at up to GBP3,000 plus disbursements and VAT, which can be drawn as appropriate. The liquidator's disbursements will consist of (i) advertising, (ii) bonding. CONTACT: M L T PITTS (WORCESTER) LIMITED 95a High Street, Worcester Worcestershire WR1 2HL Phone: 01905612873 WARD & CO. Bank House Shaw Street Worcester Worcestershire WR1 3DT Phone: 01905 25000 Fax: 01905 26555 E-mail: aws@ward-co.co.uk MYRIAD TRADE: Calls in Administrators from Begbies Traynor ---------------------------------------------------------- Paul Stanley and Stephen Conn (IP Nos 8123, 1772) of Begbies Traynor were appointed administrators of Myriad Trade Sales Limited (Company No 04806620) on Dec. 22. The company sells books and newspapers. CONTACT: MYRIAD TRADE SALES LIMITED Bank House Market Street Whaley Bridge High Peak SK23 7AA BEGBIES TRAYNOR Elliot House 151 Deansgate Manchester M3 3BP Phone: 0161 839 0900 Fax: 0161 839 7436 E-mail: manchester@begbies-traynor.com Web site: http://www.begbies.com NIX TECHNOLOGIES: Names Mercer & Hole Administrator --------------------------------------------------- Steven Leslie Smith and John Anthony Dickinson (IP Nos 6424, 9342) of Mercer & Hole Nix Technologies Ltd. (Company No 04217059) on Dec. 19. NIX Technologies Limited -- http://www.nixtechnologies.com/-- is a telecommunication company in United Kingdom that provides Voice and Data services to potential telecommunications operators in Middle East, Eastern Europe and Asia. It owns operational nodes in Germany, Sweden, United Kingdom, United States and Iran, it aims to provide high level of services and flexibility to customers using dedicated Satellite/direct links. CONTACT: NIX TECHNOLOGIES LTD. Unit two, The Courtyard Eastern Road, Bracknell - Berkshire RG12 2XB United Kingdom Phone: +44 1344 301555 Fax: +44 1344 301300 MERCER & HOLE International Press Centre, 76 Shoe Lane, London EC4A 3JB Phone: +44 (0) 20 7353 1597 Fax: +44 (0) 20 7353 1748 DX: 469 London/Chancery Lane E-mail: london@mercerhole.co.uk Web site: http://www.mercerhole.co.uk NOUVELLE ENGINEERING: Calls in Liquidator ----------------------------------------- Nouvelle Engineering Ltd. informs that resolutions to wind up the company were passed at an EGM held on Sept. 27 at 8 High Street, Yarm, Stockton on Tees TS15 9AE. J. Harvey Madden, Taylor Rowlands, 8 High Street, Yarm, Stockton-on-Tees TS15 9AE was appointed liquidator. Nouvelle Engineering offers single and twin, conical or parallel, jacketed or vented barrels and feed housings. CONTACT: NOUVELLE ENGINEERING LTD. Unit 11, York Way Mandale Industrial Estate Thornaby-On-Tees, TS17 6BX U.K. Phone: +44 (0) 1642 673435 Fax: +44(0) 1642 612636 PAN PRESENTATIONS: Event Organizer Liquidates --------------------------------------------- P. G. Webster, director of Pan Presentations Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 28 at Hilton Cobham, Seven Hills Road South, Cobham, Surrey KT11 1EW. Tony James Thompson of Piper Thompson, Mulberry House, 53 Church Street, Weybridge, Surrey KT13 8DJ was appointed liquidator. CONTACT: PAN PRESENTATIONS LIMITED Lansbury Estate, 102 Lower Guildford Road Woking, Surrey GU21 2EP Phone: 01483799141 PIPER THOMPSON Mulberry House, 53 Church Street, Weybridge, Surrey KT13 8DJ Phone: 01932855515 PREMIER OFFICE: Supplier Calls in Administrator ----------------------------------------------- T. F. Corfield (IP No 1071) of Griffin & King was appointed administrator of Premier Office Supplies (Midlands) Limited (Company No 4736377) on Dec. 23. Premier Office -- http://www.premier-office-supplies.co.uk/-- offers the widest choice of office and computer supplies. CONTACT: PREMIER OFFICE SUPPLIES 42 Portman Road Reading, Berks RG30 1EA Phone: 0118 951 2000 Fax: 0118 951 3000 E-mail: sales@premier-office-supplies.co.uk GRIFFIN & KING 26-28 Goodall Street, Walsall, West Midlands WS1 1QL Phone: 01922 722205 Fax: 01922 639480 READYBAKE (UK): Appoints Sanderlings Administrator -------------------------------------------------- Andrew Fender (IP No 6898) of Sanderlings was appointed administrator of Readybake (UK) Limited (Company No 05421681) on Dec. 22. Its registered office is at Unit B16, Moss Industrial Estate, St Helen's Road, Leigh, Lancashire WN7 3PT. CONTACT: SANDERLINGS LLP Sanderling House, 1071 Warwick Road, Acocks Green, Birmingham B27 6QT RED HOT: Publishing Firm Contacts Administrator ----------------------------------------------- S. R. Thomas and T. J. Binyon (IP Nos 8920, 9285) of Tenon Recovery were appointed joint administrator of Red Hot Publishing Limited (Company No 4263028) on Dec. 22. The company is publishes magazines and designs Web sites. CONTACT: RED HOT PUBLISHING Unit 108-113 Building B, Faircharm Trading Estate 8-12 Creekside, London SE8 3DX Phone: 020 8691 2990 TENON RECOVERY Sherlock House 73 Baker Street London W1U 6RD Phone: 020 7935 5566 Fax: 020 7935 3512 E-mail: bakerstreet@tenongroup.com Web site: http://www.tenongroup.com RED ROSE: Names Begbies Traynor Liquidator ------------------------------------------ G. Thompson, chairman of Red Rose Slippers Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 24 at Begbies Traynor, 1 Winckley Court, Chapel St, Preston PR1 8BU. David R. Acland of Begbies Traynor, 1 Winckley Court, Chapel Street, Preston, Lancashire PR1 8BU was appointed liquidator. CONTACT: RED ROSE SLIPPERS LIMITED Union Mill, Bacup Road, Rossendale Lancashire BB4 7JN Phone: 01706210022 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 SANCTUARY GROUP: Bankers Agree to Raise Facilities -------------------------------------------------- On 5 December 2005, The Sanctuary Group plc, responding to press speculation, said that while the Board is confident that the actions taken to cut costs and focus on the core activities of the Company will allow the Company to continue to trade over the medium term, the Company will remain dependent on the support of its bankers in the near term and is likely to require further funding in the near term. To ensure sufficient funding to continue to meet some of the exceptional costs associated with the Company's restructuring and for working capital purposes, it has agreed with its principal bankers to increase its facilities to GBP134.125 million. In addition, as previously announced, the Company has a further GBP5.25 million of current bank facilities. The Company has amended the appropriate terms of its outstanding GBP30 million Convertible Loan Notes to take account of these changes. The Board continues to enjoy the support of its bankers. Possible Fund Raising The Board recognizes that the level of debt in the Group is too high and is actively exploring a number of options for the medium and long term financing of the Group. As outlined on 5 December, one of these options is a significant equity fund raising through Evolution Securities, the proceeds of which would be used to reduce debt levels. The details of any such equity issue are still being considered and an announcement will be made if and as appropriate. CONTACT: THE SANCTUARY GROUP PLC Sanctuary House 45 - 53 Sinclair Road London W14 0NS Phone: +44 (0) 20 7602 6351 Fax: +44 (0) 20 7603 5941 E-mail: info@sanctuarygroup.com Web site: http://www.sanctuarygroup.com SEA CONTAINERS: Names Robert Mackenzie President ------------------------------------------------ Sea Containers Ltd. appointed Robert MacKenzie President and Chief Executive Officer of the company effective Jan. 4, 2006. James B. Sherwood, the founder of the company, remains Chairman in a non-executive capacity and Ian C. Durant, Chief Financial Officer and Interim Chief Executive has reverted to the purely Chief Financial Officer role. Mr. Sherwood underwent surgery in November and handed over his Chief Executive duties on a temporary basis to Mr. Durant. Mr. Sherwood has now recovered. Mr. MacKenzie is 53, a British national with an education in accounting and finance after which he qualified as a Chartered Accountant. His recent career has encompassed being Group Financial Director of BET plc 1991-1994, Chief Executive and then Chairman of National Parking Corporation 1995-1999, Chairman of PHS Group plc 2000-2005 and most recently he was a senior advisor to the Texas Pacific Group. Mr. Sherwood said: "We are delighted to welcome Bob MacKenzie to the company. The company needs a leader with Bob's wide experience to tackle the current challenges in each of our operating divisions." Mr. MacKenzie will be nominated for election to the company's board of directors along with Michael Ingham, a highly experienced sea transport executive, at the 2006 annual meeting of shareholders, which will be held at the beginning of June 2006. Mr. MacKenzie has signed a three-year contract with extension possible by mutual consent. Sea Containers -- http://www.seacontainers.com-- (NYSE: SCRA and SCRB) is a marine container lessor, railways and ferries operator. Restructuring Plan Sea Containers is restructuring its loss-making ferries division, which consists of Finnish-based Silja Oy Ab (the largest), a car-carrying ferries business with 9 ships, and New York-based commuter ferry service SeaStreak. It has hired Societe Generale to sell Silja. Further, it is selling cruise ship MV Walrus, Swedish flag cruise ship MV Silja Opera, and MV Finnjet. It is also taking out one of its three SuperSeaCat fast ferries, and investing US$12 million to upgrade its flagship vessels Silja Serenade and Silja Symphony. The funding for the modernization will be raised through asset sales. It is reducing staff and offices in Finland, Sweden and Germany to save up to US$18 million. The company reported a third-quarter net loss of US$34.4 million on revenue of US$456 million, and a nine-month net loss of US$58.5 million on revenue of US$1.3 billion. CONTACT: SEA CONTAINERS LTD. Media and general enquiries: Lisa Barnard, Director of Communications Phone: +44 20 7805 5850 E-mail: lisa.barnard@seacontainers.com Investor Relations enquiries: William W. Galvin III, The Galvin Partnership Phone: +1 (203) 618-9800 E-mail: wwg@galvinpartners.com SECOND CITY: Appoints Liquidators from Begbies Traynor ------------------------------------------------------ N. A. Benster, chairman of Second City Shopfitters Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 24 at Elliot House, 151 Deansgate, Manchester M3 3BP. D. Bailey and G. N. Lee of Begbies Traynor, Elliot House, 151 Deansgate, Manchester M3 3BP were appointed joint liquidators. CONTACT: SECOND CITY SHOPFITTERS LTD. Maxron House Green Lane Romiley Stockport Cheshire SK6 3JQ Phone: 0161 406 6666 Fax: 0161 406 6144 BEGBIES TRAYNOR Elliot House 151 Deansgate Manchester M3 3BP Phone: 0161 839 0900 Fax: 0161 839 7436 E-mail: manchester@begbies-traynor.com Web site: http://www.begbies.com SPA NATION: Administrators from DTE Leonard Curtis Enter Firm ------------------------------------------------------------- P. D. Masters and A. Clifton (IP Nos 8262, 8766) of DTE Leonard Curtis were appointed administrator of Spa Nation Limited (Company No 5143965) on Dec. 20. Its registered office is at 34 Waterloo Road, Wolverhampton WV1 4DG. CONTACT: SPA NATION LTD. 177 Birmingham Rd., Wolverhampton, West Midlands WV2 3LU Phone: 01902 459424 DTE LEONARD CURTIS 85-89 Colmore Row Birmingham West Midlands B3 2BB Phone: 0121 200 2111 Fax: 0121 200 2122 E-mail: AClifton@dte-leonardcurtis.com STORM DESIGN: Goes into Liquidation ----------------------------------- G. Buckley, chairman of Storm Design Limited, informs that resolutions to wind up the company were passed at an EGM held on Nov. 25, 2005 at Valentine & Co., 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS. Robert Valentine and Mark Reynolds of Valentine & Co, 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS were appointed joint liquidators. CONTACT: STORM DESIGN LIMITED Web site: http://ww.storm-uk.net VALENTINE & CO. 4 Dancastle Court 14 Arcadia Avenue, London N3 2HS Phone: 020 8343 3710 Fax: 020 9343 4486 Web site: http://www.valentine-co.com SUPERCLEAN (EAST ANGLIA): In Liquidation ---------------------------------------- J. Largey, director and chairman of Superclean (East Anglia) Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 28 at King Street House, 15 Upper King Street, Norwich NR3 1RB. Matthew Robert Howard and Robert Geoffrey Rose of Larking Gowen, King Street House, 15 Upper King Street, Norwich NR3 1RB were appointed joint liquidators. CONTACT: SUPERCLEAN EAST ANGLIA LTD. Capstan House Dock Tavern Lane Great Yarmouth NR31 6PY Phone: 07771 556869 Web site: http://www.superclean-eastanglia.co.uk TMC INNOVATIONS: Appoints Joint Liquidators ------------------------------------------- R. Bure, director of TMC Innovations Limited, informs that a resolution to wind up the company was passed at an EGM held on Nov. 24, 2005 at Martins Bank Chambers, 25 High Street, Banbury, Oxfordshire OX16 5EG. Peter John Windatt and Gary Steven Pettit of BRI Business Recovery and Insolvency, 100-102 St James Road, Northampton NN5 5LF were appointed joint liquidators. CONTACT: TMC INNOVATIONS LIMITED Web site: http://www.tmc-innovations.com/ BRI BUSINESS RECOVERY AND INSOLVENCY 100-102 St James Road, Northampton NN5 5LF Phone: 01604 754352 Fax: 01604 751660 E-mail: pwindatt@briuk.co.uk TOO CO: Administrator from Bond Partners Moves in ------------------------------------------------- T. Papanicola (IP No 005496) of Bond Partners LLP was appointed administrator of Too Co Limited (Company No 03883838) on Dec. 21. The company offers entertainment activities. CONTACT: TOO CO LTD. Sandy Lane, Oxford, Oxfordshire OX4 6LL Phone: 01865778970 BOND PARTNERS LLP The Grange 100 High Street London N14 6TG Phone: 020 8444 2000 Fax: 020 8444 3400 UK CIRCUITS: Enters Administration ---------------------------------- Jonathan Lord and Robert Cooksey (IP Nos 9041, 9040) of Bridgestones were appointed administrators of UK Circuits Limited (Company No 03052170) on Dec. 21. UK Circuits Ltd. -- http://www.ukcircuits.co.uk/-- manufactures electronic components. CONTACT: UK CIRCUITS LTD. Stockfield Road Chadderton, Oldham OL9 9LG Lancashire Phone: 0161 627 4050 Fax: 0161 633 4077 BRIDGESTONES 125-127 Union Street Oldham Lancashire OL1 1TE Phone: 0161 785 3700 Fax: 0161 785 3701 E-mail: rlc@bridgestones.co.uk WADEBAY LIMITED: Travel Agent Hires Administrator ------------------------------------------------- Christakis Michael Iacovides (IP No 005428) of Jeffreys Henry Jacobs was appointed administrator of travel agent Wadebay Limited (Company No 04257319) on Dec. 22. CONTACT: WADEBAY LTD. Phone: 0208 920 9431 JEFFREYS HENRY JACOBS 124-128 City Road, London EC1V 2NJ Phone: 020 7670 9010 Fax: 020 7670 9011 Web site: http://www.jhj.co.uk WM MORRISON: Closure of Two Depots Affects 1,600 Workers -------------------------------------------------------- Wm Morrison Supermarkets plc is to shut down two of its distribution depots, affecting 1,600 jobs. The Guardian quoted the company, which was set to issue an update on its Christmas performance yesterday, as saying: "(We are) aiming to minimize redundancies as far as possible and will be talking about alternative roles within Morrisons." The closures come as a result of a review of Morrison's distribution network following its GBP3 billion acquisition of the Safeway supermarket chain in March 2004, according to Reuters, in another report. The Safeway takeover has resulted in increasing costs, a string of profit warnings, and the disposal of over 200 stores. A spokesman for the company said: "We announced in September that the depots were being reviewed following the Safeway takeover and the planned closure of some stores and we can confirm now that the Aylesford and Bristol centers are to shut. The figure of 1,600 job cuts is about right." Meanwhile, Morrison revealed it has more depots than it needs to supply its stores, according to Sharecast. ABCMoney, on the other hand, said the company, which employs around 150,000 people and operates a network of 360 stores and five distribution centers, will try to find jobs for the affected. CONTACT: WM MORRISON SUPERMARKETS PLC Hilmore House Thornton Road Bradford West Yorkshire England BD8 9AX Phone: +44 1274 494166 Fax: +44 1274 494831 Web site: http://www.morereasons.co.uk YEOMANS DEVELOPMENTS: Names Middleton Partners Administrator ------------------------------------------------------------ Julie Anne Palmer and Michael Francis Stevenson (IP Nos 8154, 8835) of Middleton Partners were appointed administrators of Yeomans Developments Limited (Company No 05054071) on Dec. 19. The company develops property. CONTACT: YEOMANS DEVELOPMENTS LIMITED Unit 7, Norton Enterprise Park Whittle Road Churchfields Salisbury SP2 7YS MIDDLETON PARTNERS 65 St Edmunds Church Street, Salisbury, Wiltshire SP1 1EF Phone: 01722 435 192 Fax: 01722 421102 E-mail: julie@middletonpartnerssalisbury.co.uk Web site: http://www.middletonpartners.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. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. 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