/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/060321.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 Tuesday, March 21, 2006, Vol. 7, No. 57 Headlines G E O R G I A METROMEDIA INTERNATIONAL: Delays Filing of 2005 Annual Report G E R M A N Y AUTOHAUS HERZ: Claims Registration Ends March 23 BAUSERVICE WEGEWITZ: Claims Registration Ends April 4 BECK GASTRO: Claims Registration Deadline on April 7 CHRISTIAN PEUKERT: Claims Registration Ends March 27 GEPOL PROJEKTMANAGEMENT: Claims Registration Ends March 27 HANS HAFNER: Claims Registration Ends March 24 KOSMA-TEXTIL: Registration of Claims Ends April 3 QUAMEDIS GMBH: Registration of Claims Ends April 11 ROSSLAUER HOCHBAU: Claims Registration Ends March 27 SGL CARBON: S&P Places B+ Corp. Credit Rating on Watch Positive SLTGMBH SANIERUNG: Claims Registration Ends April 7 I T A L Y PARMALAT SPA: U.S. Judge Allows Claims Versus Auditors K A Z A K H S T A N DEMIR CONSTRUCTION: Creditors Must File Claims By March 31 EMBI: Aktube Court Opens Bankruptcy Proceedings JIBEK & BAHADIRLAR: Creditors Must File Claims By March 31 MAULET NUR: Creditors Must File Claims By March 31 MERKUR MEDIA: Creditors Must File Claims By March 31 SEMEI-DENI: East Kazakhstan Court Begins Bankruptcy Process K Y R G Y Z S T A N BRATIA SHTROMS: Authorities Name New Interim Insolvency Manager KSK ALTYN: Bishkek Court Opens Bankruptcy Proceedings PANAMERICANA LTD: Creditors Must File Claims By April 27 SMART PAGE: Bishkek Court Opens Bankruptcy Proceedings L U X E M B O U R G SGL CARBON: S&P Puts B- Sub. Debt Rating on Watch Positive R U S S I A CHUKOTKA-OIL-PRODUCT-SERVICE: Bankruptcy Hearing Set for May 29 COLOPHONY FACTORY: Bankruptcy Hearing Set for June 26 KAMSKIY MEAT: Court Begins Bankruptcy Supervision Procedure KLYAVLINSK-AGRO-PROM-SNAB: Appoints V. Pavlov Insolvency Manager KURTAMYSHSKOYE: Bankruptcy Hearing Set for April 19 MAYNSK-AGRO-PROM-ENERGO: Court Begins Bankruptcy Process MELENKOVSKIY: Bankruptcy Hearing Set for April 27 MELENKOVSKIY WOOD-PROM-KHOZ: Bankruptcy Hearing Set for July 6 OAO NOVATEK: S&P Assigns BB- Long-Term Corporate Credit Rating RAZREZ MUGUNSKY: Parent Company Resolves to Liquidate Unit SOKOLOVSKOYE: Bankruptcy Hearing Set for April 24 WOOD-PROM-KHOZ: Bankruptcy Hearing Slated for June 5 YUKOS OIL: Court Nixes Yugansk Loan Security for Yukos YUKOS OIL: Affirms Steven Theede's Position as CEO U K R A I N E KRIZHOPIL' BREAD: Vinnitsya Court Begins Bankruptcy Supervision KROLEVETS' REPAIR: Sumi Court Begins Bankruptcy Proceedings BUDMASH: Donetsk Court Begins Bankruptcy Supervision Procedure PRAGMAKONTRAKT: Kyiv Court Begins Bankruptcy Proceedings SERGIYIVSKE: Donetsk Court Opens Bankruptcy Proceedings SULA: Sumi Court Begins Bankruptcy Supervision Procedure TORVUD CONSULTING: Lugansk Court Starts Bankruptcy Supervision TRUDIVNIK: Hmelnitskij Court Begins Bankruptcy Proceedings VERHNYOSIROGOZKE: Herson Court Opens Bankruptcy Supervision U N I T E D K I N G D O M 1ST THIRST: Members Pass Winding Up Resolution 4 TECH: Appoints Daniel Plant to Liquidate Assets AMC (METALWORK): Taps Cranfield Recovery as Administrator ARDENGATE PRODUCTS: Taps David Rubin to Administer Assets CHINA ENTERPRISE: Meeting of Creditors Set for March 27 DASHMORE CLOTHING: Appoints Milner Boardman as Administrator DIRECTION ENVIRONMENTAL: Taps Smith Williamson as Administrator EGNI ENERGY: Creditors Have Until March 27 to File Debt Claims EUROFLAM F.R.: Appoints Portland Business as Administrator JUST SLATE: Appoints S F Plant to Administer Assets M FISH: Appoints P&A Partnership as Administrator MISYS PLC: Transfers 13,333 Shares to Scheme Participants NELSON I. A.: Appoints Ernst & Young to Administer Assets PREMIER PALLETISE: Deadline for Proofs of Claim Set March 27 PURE MILK: Appoints Joint Administrators from Begbies Traynor REFCO LLC: Probe Reveals Refco Held $525,000,000 in Fake Bonds REGAL CHEMICALS: Hires Joint Liquidators from Begbies Traynor SALLY WINDOWS: Members Resolve to Liquidation SCOTT JAMES: Creditors Confirm Voluntary Liquidation SECAL PRECISION: Meeting of Creditors Set for March 27 SIAM INVESTMENT: Liquidator & Director Leave Post SILVER COACHWORKS: Mounting Debts Prompt Liquidation STIRLING CONTRACTS: Appoints P&A Partnership as Administrator THOUGHTCRYSTAL LIMITED: Taps HKM LLP to Administer Assets TOWERIP LIMITED: Financial Liabilities Trigger Liquidation TRAINING FOR CHANGE: Liquidates Assets in London TRENT INDUSTRIES: Taps Butcher Woods to Liquidate Assets WALTER MILLS: Creditors Have Until April 13 to Submit Claims * Large Companies with Insolvent Balance Sheets ********* ============= G E O R G I A ============= METROMEDIA INTERNATIONAL: Delays Filing of 2005 Annual Report ------------------------------------------------------------- Metromedia International Group, Inc., is unable to timely file its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2005. The filing of the Company's 2004 Form 10-K and the Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, June 30, and September 30, 2005 with the U.S. Securities and Exchange Commission, along with the Company's completion of its work effort for compliance with Section 404, "Management Assessment of Internal Controls" of the Sarbanes- Oxley Act of 2002 for corporate headquarters, are a prerequisite for the filing of the 2005 Form 10-K. At present, the Company cannot predict with confidence when it will file either the 2004 Form 10-K or the 2005 Quarterly Reports and thus the 2005 Form 10-K. Headquartered in Charlotte, North Carolina, Metromedia International Group -- http://www.metromedia-group.com/-- through its subsidiary, Metromedia International Telecommunications, owns interests in telecom and cable TV operations in Russia, Georgia, and elsewhere in Eastern Europe. Since the first quarter of 2003, the Company has focused its principal attentions on the continued development of its core telephony businesses, and has substantially completed a program of gradual divestiture of its non-core cable television and radio broadcast businesses. The Company's core businesses includes Magticom, Ltd., the leading mobile telephony operator in Tbilisi, Georgia, and Telecom Georgia, a well-positioned Georgian long distance telephony operator. * * * Moody's Investors Service has placed Metromedia's subordinated debt rating at B3 and junior subordinated debt rating at B2. ============= G E R M A N Y ============= AUTOHAUS HERZ: Claims Registration Ends March 23 ------------------------------------------------ Creditors of Autohaus Herz Dorsten GmbH & Co. Kommanditgesellschaft have until March 23, to register their claims with court-appointed provisional administrator Dr. Winfrid Andres. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on April 7, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Essen Saal 185 I.OG Zweigertstr.52 45130 Essen The court will also verify the claims set our in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Essen opened bankruptcy proceedings against Autohaus Herz Dorsten GmbH & Co. Kommanditgesellschaft on Feb. 16. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Autohaus Herz Dorsten GmbH & Co. Kommanditgesellschaft Barbarastr. 75-77 46282 Dorsten The administrator can be contacted at: Dr. Winfrid Andres Heinrich-Held-Str. 16, 45133 Essen Tel: 0201 330550 Fax: 0201 3305511 BAUSERVICE WEGEWITZ: Claims Registration Ends April 4 ----------------------------------------------------- Creditors of Bauservice Wegewitz GmbH have until April 4, to register their claims with court-appointed provisional administrator Dr. Karsten Forster. Creditors and other interested parties are encouraged to attend the meeting at 11:30 a.m. on May 9, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Frankfurt (Oder) Saal 401 Muellroser Chaussee 55 15236 Frankfurt (Oder) The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Frankfurt (Oder) opened bankruptcy proceedings against Bauservice Wegewitz GmbH on Feb. 16. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Bauservice Wegewitz GmbH Fuchsweg 2 15236 Frankfurt/Oder Tel: +49(0) 335/5212490 The administrator can be contacted at: Dr. Karsten Forster Herbert-Jensch-Str. 111 15234 Frankfurt (Oder) BECK GASTRO: Claims Registration Deadline on April 7 ---------------------------------------------------- Creditors of Beck Gastro-Service Fleisch- & Wurstgrosshandel GmbH have until April 7, to register their claims with court- appointed provisional administrator Jochen Lieberich. Creditors and other interested parties are encouraged to attend the meeting at 10:30 a.m. on May 4, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Kaiserslautern Zimmer 087 Bahnhofstrasse 24 67655 Kaiserslautern The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Kaiserslautern opened bankruptcy proceedings against Beck Gastro-Service Fleisch- & Wurstgrosshandel GmbH on Feb. 9. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Beck Gastro-Service Fleisch- & Wurstgrosshandel GmbH Leipziger Str. 9 67663 Kaiserslautern The administrator can be contacted at: Jochen Lieberich Stiftsplatz 6-7 67655 Kaiserslautern Tel: 0631/362350 Fax: 0631/3623520 CHRISTIAN PEUKERT: Claims Registration Ends March 27 ---------------------------------------------------- Creditors of Christian Peukert Baustoffelemente GmbH have until March 27, to register their claims with court-appointed provisional administrator Dr. Wolfgang Kohler. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on May 8, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Arnsberg EG. 328 Eichholzstrasse 4 59821 Arnsberg The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Arnsberg opened bankruptcy proceedings against Christian Peukert Baustoffelemente GmbH on Feb. 14. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Christian Peukert Baustoffelemente GmbH Niederbergheimerstrasse 104 59494 Soest The administrator can be contacted at: Dr. Wolfgang Kohler Marktstrasse 22 59555 Lippstadt Tel: 02941-979850 GEPOL PROJEKTMANAGEMENT: Claims Registration Ends March 27 ---------------------------------------------------------- Creditors of GEPOL Projektmanagement GmbH have until March 27, to register their claims with court-appointed provisional administrator Dr. Bruno M. Kuebler. Creditors and other interested parties are encouraged to attend the meeting at 11:30 a.m. on April 24, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Halle-Saalkreis Saal 1.044 Thueringer Str. 16 06112 Halle The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Halle-Saalkreis opened bankruptcy proceedings against GEPOL Projektmanagement GmbH on Feb. 3. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: GEPOL Projektmanagement GmbH Rannische Str. 3 06108 Halle The administrator can be contacted at: Dr. Bruno M. Kuebler Walter-Kohn-Strasse 1b D-04356 Leipzig Tel: 0341/339890 Fax: 0341/3398929 HANS HAFNER: Claims Registration Ends March 24 ---------------------------------------------- Creditors of Hans Hafner GmbH have until March 24, to register their claims with court-appointed provisional administrator Rainer U. Mueller. Creditors and other interested parties are encouraged to attend the meeting at 9:10 a.m. on April 25, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Augsburg Sitzungssaal 162 1. Stock Alten Einlass 1 86150 Augsburg The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Augsburg opened bankruptcy proceedings against Hans Hafner GmbH on Feb. 10. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Hans Hafner GmbH Lindberghstr. 15 86343 Konigsbrunn HRB 6732, Augsburg The administrator can be contacted at: Rainer U. Mueller Schiessstattenstr. 15 86159 Augsburg KOSMA-TEXTIL: Registration of Claims Ends April 3 ------------------------------------------------- Creditors of KOSMA-Textil GmbH have until April 3, to register their claims with court-appointed provisional administrator Bernd Statz. Creditors and other interested parties are encouraged to attend the meeting at 9:00 a.m. on April 28, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Hanau Raum 205 Engelhardstrasse 21 63450 Hanau The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Hanau opened bankruptcy proceedings against KOSMA-Textil GmbH on Feb. 8. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: KOSMA-Textil GmbH Sektion 1-3 Dieselstr. 9 63526 Erlensee Attn: Peter Mahlau, Manager Johannes-Machern-Str. 24 63456 Hanau-Steinheim The administrator can be contacted at: Bernd Statz Muehlstrasse 25 D-63526 Erlensee Tel: 06183/900370 Fax: 06183/900371 QUAMEDIS GMBH: Registration of Claims Ends April 11 --------------------------------------------------- Creditors of QuaMedis GmbH have until April 11, to register their claims with court-appointed provisional administrator Dr. Marc d' Avoine. Creditors and other interested parties are encouraged to attend the meeting at 10:45 a.m. on May 2, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Koln Saal 14 Luxemburger Strasse 101 50939 Koln The Court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Koln opened bankruptcy proceedings against QuaMedis GmbH on Feb. 1. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: QuaMedis GmbH Vogelsmuehle 13 - 17 42477 Radevormwald The administrator can be contacted at: Dr. Marc d' Avoine Doppersberg 19 42103 Wuppertal Tel: +49202245070 Fax: +492022450777 ROSSLAUER HOCHBAU: Claims Registration Ends March 27 ---------------------------------------------------- Creditors of Rosslauer Hochbau GmbH have until March 27, to register their claims with court-appointed provisional administrator Christian Beck. Creditors and other interested parties are encouraged to attend the meeting at 2:10 p.m. on April 24, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Dessau Saal 123 Willy-Lohmann-Str. 33 The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Dessau opened bankruptcy proceedings against Rosslauer Hochbau GmbH on Feb. 13. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: Rosslauer Hochbau GmbH Waldesruh 7 06862 Rosslau Attn: Heiko Weiss, Manager Bandhauerstrasse 55 06862 Rosslau The administrator can be contacted at: Christian Beck Hansering 1 06108 Halle Tel: 0345/212220 Fax: 0345/2122222 SGL CARBON: S&P Places B+ Corp. Credit Rating on Watch Positive --------------------------------------------------------------- Standard & Poor's Ratings Services placed its 'B+' long-term corporate credit rating on Germany-based graphite-electrodes producer SGL Carbon AG on CreditWatch with positive implications, following the group's successful completion of a capital increase of about EUR80 million. At the same time, the 'B-' rating on the subordinated bonds issued by related entity SGL Carbon Luxembourg S.A., which are guaranteed by SGL, was placed on CreditWatch with positive implications. "The CreditWatch placement reflects our expectations that SGL will use the proceeds from the capital increase to reduce debt, thereby improving its financial risk profile," said Standard & Poor's credit analyst Alex Herbert. "SGL recently reported much improved results for 2005, thanks to increased demand for its products, notably in the core carbon and graphite division, coupled with the absence of losses from discontinued operations." In resolving the CreditWatch placement, Standard & Poor's will assess the ways in which the equity issue proceeds will be used and consider whether SGL's financial risk profile has been sufficiently strengthened to sustain a higher rating. If this is the case, the ratings could be raised by one notch. Standard & Poor's will seek to resolve the CreditWatch within 90 days. SLTGMBH SANIERUNG: Claims Registration Ends April 7 --------------------------------------------------- Creditors of SLTGmbH Sanierung-Leckortung-Trocknung have until April 7, to register their claims with court-appointed provisional administrator Dr. Christoph Schulte-Kaubruegger. Creditors and other interested parties are encouraged to attend the meeting at 2:00 p.m. on May 10, at which time the administrator will present his first report on the insolvency proceedings. The meeting of creditors will be held at: The District Court of Potsdam Saal 301 Lindenstrasse 6 14467 Potsdam The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee or opt to appoint a new insolvency manager. The District Court of Potsdam opened bankruptcy proceedings against SLTGmbH Sanierung-Leckortung-Trocknung on Feb. 15. Consequently, all pending proceedings against the company have been automatically stayed. The Debtor can be contacted at: SLTGmbH Sanierung-Leckortung-Trocknung Tornowstrasse 30-33 14473 Potsdam The administrator can be contacted at: Dr. Christoph Schulte-Kaubruegger Genthiner Strasse 48 10785 Berlin Tel: 030 2549740 Fax: 030 25497470 Web: http://www.schroeder-rechtsanwaelte.de/ ========= I T A L Y ========= PARMALAT SPA: U.S. Judge Allows Claims Versus Auditors ------------------------------------------------------ The Hon. Lewis A. Kaplan of the U.S. District Court for the Southern District of New York allowed Parmalat S.p.A. to pursue claims against its former auditors, Deloitte & Touche and Grant Thornton. Enrico Bondi, Parmalat's former extraordinary administrator and current chief executive, filed a US$10 billion claim against the auditors for allegedly playing a major role in the dairy giant's EUR14 billion Enron-like collapse in December 2003. Parmalat contends that "corrupt insiders at the company were able to waste, steal, or squander approximately US$10 billion as a result of Deloitte and Grant Thornton's failure to audit Parmalat properly and to disclose the fraud and their participation in and furtherance of it." In a 38-page decision, Judge Kaplan said Parmalat could pursue claims against Deloitte & Touche Tohmatsu -- the auditor's international arm -- and its Italian unit. However, he dismissed the claims against Deloitte & Touche, saying that Mr. Bondi failed to show they had sufficient connections to the insiders' wrongdoing to warrant liability. In a statement, Parmalat said the decision "upheld Parmalat's key claim that it be allowed to pursue these global firms for damages not only in Italy but also internationally." "We're very pleased that the case is going forward," said John Quinn, a partner at Quinn Emanuel Urquhart Oliver & Hedges LLP, which represents Parmalat. Mr. Bondi has also filed US$10 billion claims against around 50 financial institutions, including Bank of America Corporation and Citigroup Inc. Headquartered in Milan, Italy, Parmalat S.p.A. -- http://www.parmalat.net/-- sells nameplate milk products that can be stored at room temperature for months. It also has 40- some brand product line includes yogurt, cheese, butter, cakes and cookies, breads, pizza, snack foods and vegetable sauces, soups and juices. Parmalat S.p.A. and its Italian affiliates filed separate petitions for Extraordinary Administration before the Italian Ministry of Productive Activities and the Civil and Criminal District Court of the City of Parma, Italy on December 24, 2003. Dr. Enrico Bondi was appointed Extraordinary Commissioner in each of the cases. The Parma Court has declared the units insolvent. On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No. 04-14268, in the United States Bankruptcy Court for the Southern District of New York. =================== K A Z A K H S T A N =================== DEMIR CONSTRUCTION: Creditors Must File Claims By March 31 ---------------------------------------------------------- The Specialized Inter-Regional Economic Court of Almaty LLP declared Demir Construction on Dec. 13, 2005. Creditors have until March 31 to submit their written proofs of claim to: Maulenova Str. 92, 4th floor, Room 427 Almaty Region EMBI: Aktube Court Opens Bankruptcy Proceedings ----------------------------------------------- The Specialized Inter-Regional Economic Court of Aktube Region has commenced bankruptcy proceedings against LLP Embi. JIBEK & BAHADIRLAR: Creditors Must File Claims By March 31 ---------------------------------------------------------- LLP Jibek & Bahadirlar Ltd. has declared insolvency. Creditors have March 31 until to submit their written proofs of claim to: Pavlodarskaya Str. 82 Almaty Tel: 8 (3272) 51-36-90 MAULET NUR: Creditors Must File Claims By March 31 -------------------------------------------------- LLP Maulet Nur has declared insolvency. Creditors have until to submit their written proofs of claim to: Abai Ave. 141-43 Almaty Region Tel: 8 (3272) 42-05-39 MERKUR MEDIA: Creditors Must File Claims By March 31 ---------------------------------------------------- LLP Merkur Media has declared insolvency. Creditors have until to submit their written proofs of claim to: Mailina Str. 79 Almaty Region SEMEI-DENI: East Kazakhstan Court Begins Bankruptcy Process ----------------------------------------------------------- The Specialized Inter-Regional Economic Court of East Kazakhstan Region has commenced bankruptcy proceedings against LLP Semei- Deni. =================== K Y R G Y Z S T A N =================== BRATIA SHTROMS: Authorities Name New Interim Insolvency Manager --------------------------------------------------------------- The Department for Bankruptcy Issues under the State Property Committee of the Kyrgyz Republic dismissed Mr. A. Sultanaliev as temporary insolvency manager of LLC Bratia Shtroms. Mr. Turganaly Ismailov has been appointed new temporary insolvency manager of the LLC Bratia Shtroms on Jan. 11. CONTACT: Mr. Turganaly Ismailov Temporary Insolvency Manager Tel: (+996 312) 21-67-25 (+996 312) 51-21-28 KSK ALTYN: Bishkek Court Opens Bankruptcy Proceedings ----------------------------------------------------- Bishkek City Court declared LLC KSK Altyn insolvent and commenced bankruptcy proceedings against the company. The case is docketed as AB-386/05-ED. Mr. Nester Soi has been appointed temporary insolvency manager. The meeting of the creditors will take place on March 23, 11:00 a.m., at Bishkek, Moskovskaya Str. 151, Room 108. CONTACT: Mr. Nester Soi Temporary Insolvency Manager Tel: (+996 312) 21-67-25 (0-502) 50-45-91 PANAMERICANA LTD: Creditors Must File Claims By April 27 -------------------------------------------------------- LLC Panamericana Ltd. has declared insolvency. Creditors have until April 27 to submit written proofs of claim to: Abdrahmanova Str. 170 Bishkek Tel: (+996 312) 43-65-42 SMART PAGE: Bishkek Court Opens Bankruptcy Proceedings ------------------------------------------------------ The Inter-District Court of Bishkek declared LLC SMART PAGE insolvent and commenced bankruptcy proceedings against the company. The case is docketed as ED-585/mbc9. Ms. Kanyshbubu Akmatova has been appointed temporary insolvency manager. CONTACT: Ms. Kanyshbubu Akmatova Temporary Insolvency Manager Tel: (+996 312) 62-39-69 (0-502) 18-24-46 =================== L U X E M B O U R G =================== SGL CARBON: S&P Puts B- Sub. Debt Rating on Watch Positive ---------------------------------------------------------- Standard & Poor's Ratings Services placed its 'B+' long-term corporate credit rating on Germany-based graphite-electrodes producer SGL Carbon AG on CreditWatch with positive implications, following the group's successful completion of a capital increase of about EUR80 million. At the same time, the 'B-' rating on the subordinated bonds issued by related entity SGL Carbon Luxembourg S.A., which are guaranteed by SGL, was placed on CreditWatch with positive implications. "The CreditWatch placement reflects our expectations that SGL will use the proceeds from the capital increase to reduce debt, thereby improving its financial risk profile," said Standard & Poor's credit analyst Alex Herbert. "SGL recently reported much improved results for 2005, thanks to increased demand for its products, notably in the core carbon and graphite division, coupled with the absence of losses from discontinued operations." In resolving the CreditWatch placement, Standard & Poor's will assess the ways in which the equity issue proceeds will be used and consider whether SGL's financial risk profile has been sufficiently strengthened to sustain a higher rating. If this is the case, the ratings could be raised by one notch. Standard & Poor's will seek to resolve the CreditWatch within 90 days. =========== R U S S I A =========== CHUKOTKA-OIL-PRODUCT-SERVICE: Bankruptcy Hearing Set for May 29 --------------------------------------------------------------- The Arbitration Court of Chukotskiy autonomous region will convene on May 29, to hear the supervision procedure on open joint stock company Chukotka-Oil-Product-Service (TIN 8709007441). The case is docketed as A80-43/2005-B. Mr. N. Chelapko has been appointed temporary insolvency manager. The Debtor can be reached at: Chukotka-Oil-Product-Service Anadyr, Yuzhnaya Str. 4 Chukotskiy Autonomous Region 689000, Russia The insolvency manager can be reached at: N. Chelapko Anadyr, Post User Box 214 Chukotskiy autonomous Region 689000, Russia COLOPHONY FACTORY: Bankruptcy Hearing Set for June 26 ----------------------------------------------------- The Arbitration Court of Altay region will convene on June 26, to hear the bankruptcy supervision procedure on open joint stock company Colophony Factory. The case is docketed as A03- 23219/05. Mr. A. Bermeshev has been appointed temporary insolvency manager. The Debtor can be reached at: Colophony Factory Barnaul, Pushkina Str. 30 Russia, Altay Region The insolvency manager can be reached at: A. Bermeshev Barnaul, Post User Box 3942 656015, Russia, Altay Region KAMSKIY MEAT: Court Begins Bankruptcy Supervision Procedure ----------------------------------------------------------- The Arbitration Court of Kaliningrad region will convene on May 29, to hear the bankruptcy supervision procedure of limited liability company Kamskiy Meat Combine (TIN 3904044399, KPP 390401001). The case is docketed as A80-43/2005-B. Mr. N. Chelapko has been appointed temporary insolvency manager. The Debtor can be reached at: Kamskiy Meat Combine Anadyr, Yuzhnaya Str. 4 689000, Russia, Kaliningrad Region The insolvency manager can be reached at: N. Chelapko Anadyr, Post User Box 214 689000, Russia, Kaliningrad Region KLYAVLINSK-AGRO-PROM-SNAB: Appoints V. Pavlov Insolvency Manager ---------------------------------------------------------------- The Arbitration Court of Samara Region appointed V. Pavlov as temporary insolvency manager for Klyavlinsk-Agro-Prom-Snab. The Court has commenced bankruptcy supervision on the open joint stock company with the case docketed as A55-18862/2005. The Debtor can be reached at: Klyavlinsk-Agro-Prom-Snab Klyavino, Sovetskaya Str. Russia, Samara region, Klyavlinskiy Region The insolvency manager can be reached at: V. Pavlov 443085, Russia, Samara Region Post user Box 15099 KURTAMYSHSKOYE: Bankruptcy Hearing Set for April 19 --------------------------------------------------- The Arbitration Court of Kurgan region will convene on April 19, to hear the bankruptcy supervision procedure of open joint stock company Kurtamyshskoye. The case is docketed at A34-8808/05. Mr. D. Ustyuzhanin has been appointed temporary insolvency manager. The Debtor can be reached at: Kurtamyshskoye Kartamysh, Proletarskaya Str. 1 Russia, Kurgan Region The insolvency manager can be reached at: D. Ustyuzhanin K. Myagotina Str. 117/21 Russia, Kurgan Region MAYNSK-AGRO-PROM-ENERGO: Court Begins Bankruptcy Process -------------------------------------------------------- The Arbitration Court of Ulyanovsk region commenced bankruptcy proceedings against Maynsk-Agro-Prom-Energo after finding the open joint stock company insolvent. The case is docketed as A72-126/05-21/68-b. Mr. Y. Levin has been appointed insolvency manager. The Debtor can be reached at: Maynsk-Agro-Prom-Energo Mayna, Krasnoarmeyskaya Str. 1-a Russia, Ulyanovsk Region The insolvency manager can be reached at: Y. Levin Syzran, Post User Box 41 446001, Russia, Samara Region MELENKOVSKIY: Bankruptcy Hearing Set for April 27 ------------------------------------------------- The Arbitration Court of Kostroma region will convene on April 27, to hear the bankruptcy proceedings against limited liability company Melenkovskiy. The case is docketed as A31- 292/2006-12. Mr. M. Kolesnikov has been appointed insolvency manager. The Debtor can be reached at: Melenkovskiy Russia, Kostroma Region Parfenyevo The insolvency manager can be reached at: M. Kolesnikov Russia, Kostroma-14 Post User Box 24 MELENKOVSKIY WOOD-PROM-KHOZ: Bankruptcy Hearing Set for July 6 -------------------------------------------------------------- The Arbitration Court of Vladimir region will convene at 1:30 p.m., on July 6, to hear the bankruptcy supervision procedure of open joint stock company Melenkovskiy Wood-Prom-Khoz. The hearing will take place at: The Arbitration Court of Vladimir region Vladimir Region, Oktyabrskiy Pr. 14 600025, Russia The case is docketed as A11-19427/2005-K1-130B/11B. Mr. A. Shurov has been appointed temporary insolvency manager. The Debtor can be reached at: Melenkovskiy Wood-Prom-Khoz Melenki, Zavokzalnaya Str. 10 602120, Russia, Vladimir Region The insolvency manager can be reached at: A. Shurov Murom, Radiozavodskoye Shosse, 2A 602264, Russia, Vladimir Region OAO NOVATEK: S&P Assigns BB- Long-Term Corporate Credit Rating -------------------------------------------------------------- Standard & Poor's Ratings Services assigned its 'BB-' long-term corporate credit rating to OAO Novatek, Russia's largest independent gas producer. The outlook is stable. At the same time, a 'ruAA-' Russia national scale rating was assigned to the company. The ratings reflect Novatek's operational dependence on the pipelines of Russian gas supply company OAO Gazprom (BB+/Positive/--) for the transportation of gas. The ratings also reflect the very low domestic gas price realizations compared with international benchmarks, Novatek's somewhat concentrated reserve base, and the company's short track record of consolidated financial reporting. Although its operations have stayed unchanged, the company's key assets were only partially owned and had been accounted as equity investments before the consolidation of minority interests in December 2004. The ratings also reflect the risks of operating in Russia, including tax and regulatory uncertainties. "Novatek has demonstrated over the past decade its ability to manage its significant risks effectively and build a good working relationship with Gazprom," said Standard & Poor's credit analyst Per Karlsson. "Potential risks associated with Gazprom's dominant and privileged position in the Russian gas market are further mitigated by Gazprom's fundamental interest in having independent producers like Novatek supplying the domestic market, where prices are low, thereby enabling Gazprom to boost its profitable exports." Novatek's credit quality benefits from the company's very low cost base, which results in high profitability and expected positive free cash flow generation over the medium term, despite low price realizations. We expect Novatek to maintain at least its current production level and successfully refinance its short-term debt. We also expect Novatek to continue to deliver positive free operating cash flow and to maintain net debt at less than its annual EBITDA. At Sept. 30, 2005, Novatek reported net debt to EBITDA of 0.3x on a last-quarter-annualized basis. The ratings would likely benefit from a longer track record of successful financial performance. Adverse changes on the regulatory or competitive fronts, or evidence of heightened operational risk from Gazprom, could constrain or put downward pressure on the ratings. RAZREZ MUGUNSKY: Parent Company Resolves to Liquidate Unit ---------------------------------------------------------- The Siberian Coal and Energy Company (SEUK) has decided to liquidate its subsidiary, Razrez Mugunsky Mining Co., in Irkutsk region, Interfax reports. According to the report, Razrez's liquidation is part of SUEK's effort to simplify its corporate structure since it has not been in operation for the past three years. "We expect that the reform will increase creditors' confidence in SUEK and make it possible to even more effectively pursue a course toward diversifying and decreasing the cost of the company's loan portfolio, and increasing the duration of loans taken," a spokesman for SUEK's Irkutsk branch told Interfax. "In addition, we expect to reduce management expenses and gain economic benefits from expanding the powers and responsibilities of local executives." Interfax reveals that Razrez Mugunsky Mining Co previously provided production services to SUEK subsidiary Vostsibugol, which holds the license to mine brown coal at the Mugunskoye deposit. However, Vostsibugol now operates independently, mining coal through its Mugunsky branch. SOKOLOVSKOYE: Bankruptcy Hearing Set for April 24 ------------------------------------------------- The Arbitration Court of Novosibirsk region will convene at 2 p.m. on April 24, to hear the bankruptcy supervision procedure on open joint stock company Sokolovskoye. The case is docketed as A45-28963/05-458/521. Mr. I. Klemeshov has been appointed temporary insolvency manager. The Debtor can be reached at: Sokolovskoye Kolyvanskiy region, Sokolova, Lenina Str. 27 633168, Russia, Novosibirsk Region The insolvency manager can be reached at: I. Klemeshov 630077, Russia, Novosibirsk-77 Post User Box 173 WOOD-PROM-KHOZ: Bankruptcy Hearing Slated for June 5 ---------------------------------------------------- The Arbitration Court of Khanty-Mansiyskiy autonomous region will convene on June 5, to hear the bankruptcy supervision procedure on open joint stock company Wood-Prom-Khoz. The hearing will take place at: The Arbitration Court of Khanty-Mansiyskiy Autonomous Region Lenina Str. 54/1 Tyumen Region, Khanty-Mansiysk 628012, Russia The case is docketed as A75-12466/2005. Mr. Y. Kostylev has been appointed temporary insolvency manager. The Debtor can be reached at: Wood-Prom-Khoz Yugra, Uray, Location 2, 90 Khanty-Mansiyskiy Autonomous Region 628285, Russia The insolvency manager can be reached at: Y. Kostylev Khanty-Mansiyskiy Autonomous Region Yugra, Kondinskiy Region Mezhdurechenskiy 628200, Russia YUKOS OIL: Court Nixes Yugansk Loan Security for Yukos ------------------------------------------------------ The Arbitration Court of Moscow has invalidated Yuganskneftegaz security for the $1.6 billion loan to Yukos under a lawsuit filed by Rosneft and Baikal Finance Group, Itar-Tass says. According to the report, the Court also nixed the plaintiffs' demand to collect up to RUB100 million from Yuganskneftegaz, Moravel Investment Ltd., Yukos, Yukos Exploration and Production and Yukos Moscow in compensation for damages. The loan security agreement was signed in May 2004, the Russian news agency relates. Headquartered in Moscow, Russia, Yukos Oil Company -- http://yukos.com/-- is an open joint stock company existing under the laws of the Russian Federation. Yukos is involved in the energy industry substantially through its ownership of its various subsidiaries, which own or are otherwise entitled to enjoy certain rights to oil and gas production, refining and marketing assets. The Company filed for Chapter 11 protection Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark. A few days after, its main production unit Yugansk, was sold by the government to a little-known firm Baikalfinansgroup for US$9.35 billion, as payment for US$27.5 billion in tax arrears for 2000- 2003. Yugansk eventually was bought by state-owned Rosneft, which is now claiming more than US$12 billion from Yukos. YUKOS OIL: Affirms Steven Theede's Position as CEO -------------------------------------------------- Embattled Yukos Oil Company clarifies Steven Theede's authority as the Company's President following recent reports indicating that the Federal Migration Service is questioning Mr. Theede's position due to the absence of a Russian Work Permit. "Mr. Theede carries out his duties as President of Yukos Oil Company outside of Russia and Russian law does not prevent such an arrangement," the Company said last week. "Under Russian law, Mr. Theede's powers and duties as OAO NK YUKOS President were conferred upon him in strict compliance with Russian Civil Code and the Law on Joint Stock Companies. The authorities vested in him are conferred by the Board of Directors of OAO NK YUKOS. To this end, the issues relating to Mr. Theede's Visa and/or Work Permit are purely a matter of administrative law rather than corporate law and their absence do not affect his ability to carry out his duties with the complete authority vested in him by the Board of Directors under corporate law," the Company added. Mr. Theede is in self-imposed exile in London, Bloomberg News reports. Headquartered in Moscow, Russia, Yukos Oil Company -- http://yukos.com/-- is an open joint stock company existing under the laws of the Russian Federation. Yukos is involved in the energy industry substantially through its ownership of its various subsidiaries, which own or are otherwise entitled to enjoy certain rights to oil and gas production, refining and marketing assets. The Company filed for Chapter 11 protection Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed on Feb. 24, 2005, by the Hon. Letitia Z. Clark. A few days after, its main production unit Yugansk, was sold by the government to a little-known firm Baikalfinansgroup for US$9.35 billion, as payment for US$27.5 billion in tax arrears for 2000- 2003. Yugansk eventually was bought by state-owned Rosneft, which is now claiming more than US$12 billion from Yukos. ============= U K R A I N E ============= KRIZHOPIL' BREAD: Vinnitsya Court Begins Bankruptcy Supervision --------------------------------------------------------------- The Economic Court of Vinnitsya region commenced bankruptcy supervision procedure on OJSC Krizhopil' Bread Products Combine (code EDRPOU 00953444). The case is docketed as 5/155-05. Mr. Sergij Severin has been appointed temporary insolvency manager. CONTACT: OJSC Krizhopil' Bread Products Combine Krizhopil, Radyanska Str. 6 24600, Ukraine, Vinnitsya Region Mr. Sergij Severin Temporary Insolvency Manager Hmelnitske Shose Str. 2-a, office 710 21036, Ukraine, Vinnitsya Region Tel: (0432) 52-03-55 Economic Court of Vinnitsya Region 21036, Ukraine, Vinnitsya Region Hmelnitske Shose 7 KROLEVETS' REPAIR: Sumi Court Begins Bankruptcy Proceedings ----------------------------------------------------------- The Economic Court of Sumi region commenced bankruptcy supervision procedure on OJSC Krolevets' Repair-Mechanical Plant (code EDRPOU 00901571) on Jan. 26. The case is docketed as 6/128-05. Ms. Olga Naumova has been appointed temporary insolvency manager. CONTACT: OJSC Krolevets' Repair-Mechanical Plant Krolevets, Shevchenko Str. 86 41300, Ukraine, Sumi Region Ms. Olga Naumova Temporary Insolvency Manager Harkivska Str. 122 40030, Ukraine, Sumi Region Economic Court of Sumi Region Shevchenko Avenue 18/1 40030, Ukraine, Sumi Region BUDMASH: Donetsk Court Begins Bankruptcy Supervision Procedure -------------------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy supervision procedure on OJSC Budmash (code EDRPOU 01033310) on Dec. 27, 2005, and ordered a moratorium on satisfaction of creditors' claims. The case is docketed as 42/229 B. Mr. Popov Ivan has been appointed temporary insolvency manager. CONTACT: Budmash Tambovska Str. 1 Ukraine, Donetsk Region Mr. Popov Ivan Temporary Insolvency Manager 86427, Ukraine, Donetsk Region Yenakiyevo, Brajlyana Str. 36/33 Economic Court of Donetsk Region Artema Str. 157 83048, Ukraine, Donetsk Region PRAGMAKONTRAKT: Kyiv Court Begins Bankruptcy Proceedings -------------------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy supervision procedure on LLC Pragmakontrakt (code EDRPOU 32960423). The case is docketed as 43/14. Mr. O. Sherban has been appointed temporary insolvency manager. CONTACT: Pragmakontrakt M. Raskova Str. 11/218 02002, Ukraine, Kyiv Region Mr. O. Sherban Temporary Insolvency Manager 01030, Ukraine, Kyiv Region, a/b 157 Economic Court of Kyiv Region B. Hmelnitskij Boulevard 44-B 01030, Ukraine, Kyiv Region SERGIYIVSKE: Donetsk Court Opens Bankruptcy Proceedings ------------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy proceedings against Agricultural LLC Sergiyivske (code EDRPOU 30486440) after finding the company insolvent. The case is docketed as 15/48 B. Mr. Gumbakov Sergij has been appointed Liquidator/Insolvency Manager. CONTACT: Sergiyivske Krasnoarmijskij District Sergiyivske, Poshtova Str. 26 Ukraine, Donetsk Region Mr. Gumbakov Sergij Liquidator/Insolvency Manager 85320, Ukraine, Donetsk Region Dimitrov, Vatutin Str. 19/40 Tel: (06239) 6-14-61 Economic Court of Donetsk Region 83048, Ukraine, Donetsk Region Artema Str. 157 SULA: Sumi Court Begins Bankruptcy Supervision Procedure -------------------------------------------------------- The Economic Court of Sumi Region commenced bankruptcy supervision procedure on Agricultural LLC Sula (code EDRPOU 30032871). The case is docketed as 6/102-05. Mr. Volovik Sergij has been appointed temporary insolvency manager. CONTACT: Sula Nedrigajlivskij District, Kulishivka Ukraine, Sumi Region Mr. Volovik Sergij Temporary Insolvency Manager Proletarska Str. 69, 2nd floor 40030, Ukraine, Sumi Region Economic Court of Sumi Region 40030, Ukraine, Sumi Region Shevchenko Avenue 18/1 TORVUD CONSULTING: Lugansk Court Starts Bankruptcy Supervision -------------------------------------------------------------- The Economic Court of Lugansk region commenced bankruptcy supervision procedure on Torvud Consulting Ukraine (code EDRPOU 23482183). The case is docketed as 20/191 b. Mr. Zhezherya Sergij has been appointed temporary insolvency manager. CONTACT: Torvud Consulting Ukraine Oboronna Str. 20a 91000, Ukraine, Lugansk Region Mr. Zhezherya Sergij Temporary Insolvency Manager Yuvilejne, Shahtarskij Quarter, 5/58 Ukraine, Lugansk region Economic Court Of Lugansk Region 91000, Ukraine, Lugansk Region Geroiv VVV Square 3a TRUDIVNIK: Hmelnitskij Court Begins Bankruptcy Proceedings ---------------------------------------------------------- The Economic Court of Hmelnitskij Region commenced bankruptcy proceedings against Agricultural LLC Trudivnik (code EDRPOU 04540526) on January 25, 2006 after finding the limited liability company insolvent. The case is docketed as 4/251-B. Mr. Gorban Arkadij has been appointed Liquidator/Insolvency Manager. CONTACT: Trudivnik Letichivskij district, Mitkivtsi Ukraine, Hmelnitskij Region Mr. Gorban Arkadij Liquidator/Insolvency Manager Skovoroda Str. 14/151 29008, Ukraine, Hmelnitskij Region Economic Court of Hmelnitskij Region Nezalezhnosti Square 1 29000, Ukraine, Hmelnitskij Region VERHNYOSIROGOZKE: Herson Court Opens Bankruptcy Supervision ----------------------------------------------------------- The Economic Court of Herson region commenced bankruptcy supervision procedure on Agricultural LLC Verhnyosirogozke (code EDRPOU 30924383) on Jan. 11. The case is docketed as 5/248- B-05. Mr. U. Kutsyupak has been appointed temporary insolvency manager. CONTACT: Verhnyosirogozke Nizhnyosirogozkij District, Verhni Sirogozi 74722, Ukraine, Herson Region Mr. U. Kutsyupak Temporary Insolvency Manager 200-Richya Hersonu Avenue 22/93 Ukraine, Herson Region Tel: 8 (0552) 54-71-69 Economic Court of Herson Region Gorkij Str. 18 Ukraine, Herson Region =========================== U N I T E D K I N G D O M =========================== 1ST THIRST: Members Pass Winding Up Resolution ---------------------------------------------- Members of 1st Thirst Bar Limited passed a resolution to wind up the company during an extraordinary general meeting on Feb. 17. Julie Anne Palmer, of Middleton Partners, was appointed Liquidator. 1st Thirst Bars Limited can be reached at: Unit 5 Floating Bridge Road Longbridge Industrial Park Southampton Hampshire SO143FL Tel: 023 8023 8638 Fax: 0870 706 1713 Web: http://www.firstthirst.co.uk/ 4 TECH: Appoints Daniel Plant to Liquidate Assets ------------------------------------------------- Daniel Plant, of S F Plant & Co, was appointed liquidator of 4 Tech Connect Limited after members decided to liquidate the company's assets on Feb. 15. Chairperson P.A. Harman revealed the company could no longer continue its business due to mounting debts. 4 Tech Connect Limited can be contacted at: 38 Bowthorpe Employment Area Morgan Way Norwich Norfolk NR5 9JJ Tel: 0870 167 2265 Fax: 0870 167 2260 Web: http://www.4tech.co.uk/ AMC (METALWORK): Taps Cranfield Recovery as Administrator --------------------------------------------------------- Tony Mitchell of Cranfield Recovery Limited was appointed administrator of AMC (Metalwork) Limited (Company Number 03522698) on March 8. The administrator can be reached at: Cranfield Recovery Limited 2 Hawkes Drive Warwick Warwickshire CV34 6LX Tel: 01926 450414 Fax: 01926 831126 AMC (Metalwork) Limited offers steelwork fabrication service and can be reached at: Unit 3B Pincents Kiln Industrial Park Pincents Kiln Reading RG31 5SD United Kingdom Tel: 0118-932 3313 Fax: 0118-930 6163 ARDENGATE PRODUCTS: Taps David Rubin to Administer Assets --------------------------------------------------------- Asher Miller and Paul Appleton of David Rubin & Partners were appointed joint administrators of Ardengate Products Limited (Company Number 04507655) on March 3. David Rubin & Partners -- http://www.drpartners.com/-- specializes in corporate and personal insolvency, recovery, forensic accounting and litigation support. Ardengate Products Limited produce framed mirrors, prints and imports vases. CHINA ENTERPRISE: Meeting of Creditors Set for March 27 ------------------------------------------------------- Creditors of China Enterprise Limited (Company Number 04621797) will meet on March 27, 10 a.m., at: BDO Stoy Hayward LLP 4th Floor, 12-22 Edmund House, Newhall Street, Birmingham B3 3EW Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at 12 p.m., March 24, 2006 to: C. K. Rayment Joint Administrator BDO Stoy Hayward LLP 125 Colmore Row, Birmingham B3 3SD BDO Stoy Hayward -- http://www.bdo.co.uk/-- is the UK member firm of BDO International, the world's fifth largest accountancy network with more than 600 offices in 100 countries. Its services include: audit and assurance, business restructuring, corporate finance, disputes and investigations, investment management, risk assurance services, tax services, and valuations. DASHMORE CLOTHING: Appoints Milner Boardman as Administrator ------------------------------------------------------------ Colin Burke and Darren Brookes of Milner Boardman & Partners were appointed joint administrators of Dashmore Clothing Limited (Company Number 01758866) on March 8. Its registered office is at Wrengate House, 221 Palatine Road, Manchester M20 2EE. Headquartered on Hale, Altrincham, South Manchester, Milner Boardman -- http://www.milnerboardman.co.uk/-- is an independent firm of chartered accountants and business advisers. Dashmore Clothing Limited -- http://www.workwear4u.co.uk/-- manufactures clothing and apparel. DIRECTION ENVIRONMENTAL: Taps Smith Williamson as Administrator --------------------------------------------------------------- Stephen Robert Cork and Anthony Cliff Spicer of Smith Williamson were appointed joint administrators of Direction Environmental Solutions Limited (Company Number 02534318) on Feb. 17. Smith & Williamson -- http://www.smith.williamson.co.uk/-- is an independent professional and financial services group employing over 1,200 people. It is the leading provider of investment management, financial advisory and accountancy services to private clients, professional practices, mid to large corporates and non-profit organizations. Direction Environmental Solutions Limited -- http://www.direction-int.com/-- offers air conditioning, mechanical and electrical maintenance service. Its office is at Hildenbrook House, The Slade, Tonbridge TN9 1HR. EGNI ENERGY: Creditors Have Until March 27 to File Debt Claims -------------------------------------------------------------- Creditors of Egni Energy Limited (Company Number 05215130) have until 12 p.m., on March 27, to submit their written debt claims against the Company to: D. K. Dattani Joint Administrator Tenon Recovery 1 Bede Island Road, Bede Island Business Park, Leicester LE2 7EA -- or -- Patrick B. Ellward Tenon Recovery Charnwood House Gregory Boulevard Nottingham NG7 6NX A meeting of creditors will be held on March 28, 11 a.m., at: Crown & Sandys Arms Hotel Main Road, Ombersley, Droitwich, Worcestershire WR9 0EW Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with the written debt claims on the claims bar date. Tenon Recovery -- http://www.tenongroup.com/-- provides accounting and business advice to owner-managed and private business. EUROFLAM F.R.: Appoints Portland Business as Administrator ---------------------------------------------------------- Peter Robin Bacon and Carl Derek Faulds of Portland Business & Financial Solutions Ltd. Were appointed joint administrators of Euroflam F.R. Limited (Company Number 2608507) on March 9. The joint administrators can be reached at: Portland Business & Financial Solutions Ltd. 1640 Parkway Solent Business Park Whiteley, Fareham Hampshire PO15 7AH Tel: 01489 550 440 E-mails: carl.faulds@portland-solutions.co.uk james.tickell@portland-solutions.co.uk Headquartered in Hampshire, Euroflam F.R. Limited -- http://www.euroflam.co.uk/-- offers bespoke flame retarding and soil and stain treatment service for domestic and contract standards for upholstery, curtaining, bedspreads and soft furnishing. JUST SLATE: Appoints S F Plant to Administer Assets --------------------------------------------------- Simon Franklin Plant and Daniel Plant of S F Plant were appointed joint administrators of Just Slate Limited (Company Number 03217127) on March 7. The joint administrators can be reached at: S F Plant 9 Ensign House Admirals Way Marsh Wall, London E14 9XQ Just Slate Limited supplies news and second hand slates and can be reached at: Wayside, Fleet Marston, Aylesbury, Buckinghamshire HP18 0PZ Tel: 01296655131 M FISH: Appoints P&A Partnership as Administrator ------------------------------------------------- Christopher Michael White and Derek Leslie Woolley of The P&A Partnership joint administrators of M Fish (Packaging) Limited (Company Number 01556460) on March 3. The P&A Partnership (aka Poppleton and Appleby) -- http://www.thepandapartnership.com/-- is a member firm of the Insolvency Practitioners Association and the Association of Business Recovery Professionals (R3) and act for all clearing banks and a growing number of factors and asset lenders. Its clients include multinational PLCs, SMEs, financial institutions, accountants, solicitors and business advisors. As the partnership works only in the field of business rescue and insolvency, it can not only promise dedicated expertise, but can also assure its professional clients that it pose no competition to its own business base. M Fish (Packaging) Limited -- http://www.m-fish.co.uk/-- manufactures handmade boxes. MISYS PLC: Transfers 13,333 Shares to Scheme Participants --------------------------------------------------------- Misys plc transferred on March 17, 13,333 ordinary shares at prices between 178 pence and 205 pence per share to participants in its employee share schemes. The shares were all formerly held as treasury shares. Following the above transfer of shares out of Treasury, Misys plc holds a total of 51,871,305 ordinary shares in Treasury. The total number of ordinary shares in issue (excluding Treasury shares) is 507,855,731. Headquartered in the United Kingdom, Misys PLC -- http://www.misys.com/-- provides industry-specific software serving the international banking and healthcare industries and the UK general insurance industry. At Nov. 30, 2005, the company reported GBP155.6 million in total stockholders' deficit. NELSON I. A.: Appoints Ernst & Young to Administer Assets --------------------------------------------------------- R. H. Kelly and Charles King of Ernst & Young LLP were appointed joint administrators of Nelson I. A. Limited (Company Number 01071317), Precis (1674) Limited (Company Number 03633337) and The Premoda Group Limited (Company Number 02944470) on March 6. Its registered office is at 32 Churchill Way, Lomeshaye Industrial Estate, Nelson, Lancashire BB9 6RT. Ernst & Young -- http://www.ey.com/-- is global organization help companies in businesses across all industries-from emerging growth companies to global powerhouses-deal with a broad range of business issues. It has 107,000 people in 140 countries around the globe pursue the highest levels of integrity, quality and professionalism to provide clients with a broad array of services relating to audit and risk-related services, tax, and transactions. Nelson I. A. Limited, Precis (1674) Limited and The Premoda Group Limited -- http://www.charnos.co.uk/-- manufactures intimate apparel. PREMIER PALLETISE: Deadline for Proofs of Claim Set March 27 ------------------------------------------------------------ A. Conquest, in his capacity as joint administrator for Premier Palletise Limited, has established 12 p.m. on March 27, as the last day for creditors to file written proofs of claims to: Grant Thornton UK LLP Grant Thornton House Melton Street, Euston Square, London NW1 2EP Headquartered in London, Grant Thornton UK LLP -- http://www.grant-thornton.co.uk/-- is the UK member of Grant Thornton International, one of the world's leading international organizations of independently owned and managed accounting and consulting firms. These firms provide a comprehensive range of business advisory services from around 540 offices in over 110 countries worldwide. PURE MILK: Appoints Joint Administrators from Begbies Traynor ------------------------------------------------------------- Paul Stanley and Donald Bailey of Begbies Traynor were appointed joint administrators of Pure Milk Limited (Company Number 04543482) on March 8. Headquartered in Manchester, Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Pure Milk Ltd supplies flavored and sterilized milk and can be reached at: 34 Knowsley Street, Manchester, M8 8HQ Tel: 0161 8271200 Fax: 0161 8391027 E-mail: info@idcltd.com REFCO LLC: Probe Reveals Refco Held $525,000,000 in Fake Bonds -------------------------------------------------------------- U.S. prosecutors investigating Refco, LLC's collapse, have found that Refco held "offshore accounts" with as much as $525,000,000 in fake bonds, Bloomberg News reports. This indicates that Refco's financial troubles may be more extensive than previously reported. Evidence gathered by prosecutors indicates that Refco held the securities for Bawag P.S.K. Bank, Austria's fourth-largest bank, and Liquid Opportunity, an offshore hedge fund, under identification numbers that do not correspond to registered bonds, Otis Bilodeau and Allan Dodds Frank at Bloomberg News relate. Bawag and Liquid Opportunity had shares in six Anguilla companies, which in turn held the bonds, according to Bloomberg. Mr. Frank says U.S. Attorney Michael Garcia and the U.S. Securities and Exchange Commission are trying to find out where the bonds originated and how they were valued. The bond accounts were at Refco's Bermuda-based unit, beyond the reach of U.S. regulators. Refco's counsel, Anthony Clark, Esq., at Skadden, Arps, Slate, Meagher & Flom, in Wilmington, Delaware, declined to comment on the bond accounts. Bawag asserts EUR392,000,000 in claims against Refco, including EUR350,000,000 it loaned to Phillip Bennett, Refco's former CEO. The remaining EUR42,000,000 euros relates to "other businesses in connection with Refco," Bloomberg says. Bloomberg also notes that Refco's creditors are hunting for information about six companies based in the British West Indies that may be linked to the fake bonds. Liquid Opportunities Responds LONGWOOD, Florida -- March 16, 2006 -- Jonathan P. Knight, portfolio manager of Liquid Opportunities, responds to Bloomberg article on Refco. Re Messrs Bilodeau and Frank about Refco, BAWAG and a non-U.S. fund they refer to as "Liquid Opportunities." Mr. Knight states that: "The March 15 article in Bloomberg regarding the relationship between Refco and BAWAG unfairly casts a shadow over Liquid Opportunities Plus Fund, a legitimate investment fund which has always operated in a lawful and ethical manner, and the reporters' 'guilt by association' implications are inappropriate." "I was involved in the management of Liquid Opportunities until November 2004. Liquid Opportunities was an offshore investment fund with non-U.S. investors that primarily owned non-U.S. securities. "Thus, Liquid Opportunities was not registered with the SEC or any other U.S. Agency. "The fund's mandate included the administration of several Euro-denominated note instruments contributed by an investor. To hold such non-U.S. instruments, Liquid Opportunities maintained a custody account at Refco's non-U.S. subsidiary, Refco Capital Markets. "As stated in the story, it is true that the instruments mentioned above were not registered securities, but rather they were private instruments each with a single lender and a single borrower. As is the norm in such a circumstance, the instruments were not registered, either publicly or with a transfer agent, and thus would not reflect a CUSIP or other standardized identifying information. The article suggests that the instruments were 'fake' or 'phantom.' There was absolutely nothing about the instruments, either on their face or in terms of their handling, that suggested that they were problematic in any way. No one, including no government official, has suggested that Liquid Opportunities had any reason to suspect any irregularity with regard to the instruments. In fact, Liquid Opportunities never suspected any irregularity. Any implication to the contrary implied in the article is inappropriate. "At the end of 2004, Liquid Opportunities was fully redeemed(including the shares of the six companies mentioned in the article) and, pursuant to that redemption, all positions were removed from the custody of RCM. "Upon the publication of bankruptcy documents listing the mentioned companies as creditors, documentation was delivered with all due haste to Skadden Arps, Refco's attorneys, notifying that law firm that none of the companies were ever creditors of Refco nor had any claim against Refco. The fact that Skadden Arps has not removed those entities as creditors should be addressed to that law firm. "Finally, to correct a factual mis-statement in the article, I have never (a) invested or co-invested in a Liechtenstein entity or (b) commingled capital alongside BAWAG P.S.K. in a vehicle that invested in a company or any other investment." Headquartered in New York, New York, Refco Inc. -- http://www.refco.com/-- is a diversified financial services organization with operations in 14 countries and an extensive global institutional and retail client base. Refco's worldwide subsidiaries are members of principal U.S. and international exchanges, and are among the most active members of futures exchanges in Chicago, New York, London and Singapore. In addition to its futures brokerage activities, Refco is a major broker of cash market products, including foreign exchange, foreign exchange options, government securities, domestic and international equities, emerging market debt, and OTC financial and commodity products. Refco is one of the largest global clearing firms for derivatives. The Company and 23 of its affiliates filed for chapter 11 protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006). J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in their restructuring efforts. Luc A. Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents the Official Committee of Unsecured Creditors. Refco reported $16.5 billion in assets and $16.8 billion in debts to the Bankruptcy Court on the first day of its chapter 11 cases. (Refco Bankruptcy News, Issue No. 25; Bankruptcy Creditors' Service, Inc., 215/945-7000) REGAL CHEMICALS: Hires Joint Liquidators from Begbies Traynor ------------------------------------------------------------- Regal Chemicals Limited is liquidating its assets after members found out that the company could not continue its operations due to mounting debts. Timothy John Edward Dolder and Paul Michael Davis, of Begbies Traynor LLP, were appointed Joint Liquidators. Regal Chemicals Limited can be reached at: Unit A Shires Road Buckingham Road Industrial Estate Brackley Northamptonshire NN137EZ Tel: 01280 841 085 SALLY WINDOWS: Members Resolve to Liquidation --------------------------------------------- Members of Sally Windows Limited resolved to liquidate the company's assets during an extraordinary general meeting on Feb. 15. Stephen P J White, of White & Co, was appointed Liquidator. Sally Windows Limited can be reached at: Unit 5 Belshaw Court Billington Road Burnley Lancashire BB115UB Tel: 01282 710 063 Fax: 01282 428 961 Web: http://www.sallywindows.co.uk/ SCOTT JAMES: Creditors Confirm Voluntary Liquidation ---------------------------------------------------- Creditors of Scott James Glass Limited confirmed the company's voluntary liquidation after members passed a resolution to wind up the company's operations on Feb. 17. Creditors also ratified the appointment of Mark Newman, of Vantis, as Liquidator. Scott James Glass Limited can be reached at: 12A-14 Armstrong Close St. Leonards-On-Sea East Sussex TN38 9ST Tel: 01424 854 161 Fax: 01424 853 418 SECAL PRECISION: Meeting of Creditors Set for March 27 ------------------------------------------------------ Creditors of Secal Precision Limited (Company Number 04332178) and Secal Special Purpose Limited (Company Number 04173495) will meet at 11 a.m. and 2:30 p.m. respectively, on March 27, at: BDO Stoy Hayward LLP 4th Floor, 12-22 Edmund Houses Newhall Street, Birmingham B3 3EW Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims at 12 p.m., March 24, 2006 to: C. K. Rayment Joint Administrator BDO Stoy Hayward LLP 125 Colmore Row Birmingham B3 3SD BDO Stoy Hayward -- http://www.bdo.co.uk/-- is the UK member firm of BDO International, the world's fifth largest accountancy network with more than 600 offices in 100 countries. Its services include: audit and assurance, business restructuring, corporate finance, disputes and investigations, investment management, risk assurance services, tax services, and valuations. Secal Precision Limited -- http://www.secal-sheetmetal.co.uk/-- was integrated into the Secal Group in 2004. It manufactures high precision, high quality machined parts in ferrous, non- ferrous and exotic materials. Secal Special Purpose Limited -- http://www.secal- sheetmetal.co.uk/ -- designs and manufactures bespoke machines and complex engineering solutions, which have been installed countrywide. SIAM INVESTMENT: Liquidator & Director Leave Post ------------------------------------------------- The Siam Investment Fund discloses the resignation of Enghug Nontikarn as a director of the Company effective Feb. 23. In addition, following the commencement of the winding up of the Company in accordance with its Memorandum and Articles of Association at 12:00 a.m. Cayman Islands time on Feb. 22, the Company also disclosed the resignation of Mungkorn Kriengwatana as the Company's liquidator nunc pro tunc to Feb. 27. As a result of the Fund's voluntary liquidation, its listing on the Official List of the UK Listing Authority and admission to trading on the London Stock Exchange's main market for listed securities was suspended on Feb. 23. Headquartered in Grand Cayman, Cayman Islands, Siam Investment Fund operates as an investment trust primarily for unlisted companies, joint ventures and other projects. SILVER COACHWORKS: Mounting Debts Prompt Liquidation ---------------------------------------------------- Stephen L. Conn of Begbies Traynor was appointed Liquidator after members of Silver Coachworks Limited agreed to wind up the company's assets on Feb. 14. Chairman J. A. Reilly disclosed that the company could no longer continue its business due to mounting debts. Silver Coachworks Limited can be reached at: 53-55 Alfreds Way Barking Industrial Park Barking Essex IG1 10TJ Tel: 020 8594 9696 Fax: 020 8594 1139 STIRLING CONTRACTS: Appoints P&A Partnership as Administrator ------------------------------------------------------------- Christopher Michael White and John Russell of The P&A Partnership were appointed joint administrators of Stirling Contracts Group Limited (Company Number 02639900) on March 6. The P&A Partnership (aka Poppleton and Appleby) -- http://www.thepandapartnership.com/-- is a member firm of the Insolvency Practitioners Association and the Association of Business Recovery Professionals (R3) and act for all clearing banks and a growing number of factors and asset lenders. Its clients include multinational PLCs, SMEs, financial institutions, accountants, solicitors and business advisors. As the partnership works only in the field of business rescue and insolvency, it can not only promise dedicated expertise, but can also assure its professional clients that it pose no competition to its own business base. Stirling Contracts Group Ltd installs electrical wiring service and can be reached at: Stirling House, Rotherham Close Sheffield, South Yorkshire S21 2JU Tel: 01142482776 THOUGHTCRYSTAL LIMITED: Taps HKM LLP to Administer Assets --------------------------------------------------------- Kirankumar Mistry of HKM LLP was appointed administrator of Thoughtcrystal Limited (Company Number 04097179) on March 3. HKM LLP -- http://www.hkm.co.uk/-- is an independent and regulated firm of accountants, business and taxation advisors and insolvency specialists. In July 2004, HKM Harlow Khandhia Mistry changed its business status to become a limited liability partnership and is now known as HKM LLP. Thoughtcrystal Limited provides entertainment content and offers managed services for interactive voice response, SMS, MMS and WAP delivery mediums. TOWERIP LIMITED: Financial Liabilities Trigger Liquidation ---------------------------------------------------------- Gerald Irwin, of Irwin & Company, was appointed Liquidator of Towerip Limited after members resolved to liquidate the company's assets on Feb. 17. Director A.M. Pearson claimed that the voluntary liquidation came as a result of the Debtor's inability to continue its operations due to its financial liabilities. Towerip Limited can be reached at: Leabrook Road Tipton West Midlands DY4 0DY Tel: 0121 502 0348 Fax: 01543 481 443 TRAINING FOR CHANGE: Liquidates Assets in London ------------------------------------------------ Training for Change Limited is liquidating its assets after members passed a resolution to wind up the company during an extraordinary general meeting on Feb. 14. Christopher Oakley-Smith and Colin Michael Trevethyn Haig, of PricewaterhouseCoopers LLP, were appointed Joint Liquidators. Training For Change Limited can be contacted at: Europoint House 5 Lavington Street London SE1 0NZ Tel: 020 7945 6111 Fax: 020 7945 6106 TRENT INDUSTRIES: Taps Butcher Woods to Liquidate Assets -------------------------------------------------------- Roderick Graham Butcher, of Butcher Woods, was appointed Liquidator after members of Trent Industries Limited passed a resolution to wind up the company on Feb. 10. Chairman J. K. Bayley claimed the company could not continue its operations due financial liabilities. Trent Industries Limited can be reached at: Sales & Enquiries Unit 85A Dudley Road Gibbons Industrial Park Kingswinford West Midlands DY6 8XF Tel: 01384 400 320 Fax: 01384 291 601 Web: http://www.trent-industries.co.uk/ WALTER MILLS: Creditors Have Until April 13 to Submit Claims ------------------------------------------------------------ Members of Walter Mills (Tours) Limited is liquidating its assets after members decided to wind up the company on Feb. 9. Appointed liquidator, Frank Anthony Hatch, required creditors to send in their full names, addresses and descriptions, full particulars of debts or claims, and the names and addresses of Solicitors (if any) on or before April 13. Walter Mills (Tours) Limited can be contacted at: 386 Himley Road Gornal Wood Dudley West Midlands DY3 2QB Tel: 01384 256 012 * Large Companies with Insolvent Balance Sheets ----------------------------------------------- Shareholders Total Working Equity Assets Capital Ticker (US$MM) (US$MM) (US$MM) ------ ----------- ------- -------- AUSTRIA ------- Libro AG (111) 174 (182) Rhi AG (421) 1,700 183 BELGIUM ------- City Hotels CITY.BR (7) 210 (15) Real Software REAL.BR (49) 142 (34) Sabena S.A. (86) 2,215 (297) CZECH REPUBLIC -------------- Ceskomoravska Kolben & Danek Praha Holding (89) 192 (2,186) DENMARK ------- Elite Shipping (28) 101 19 FRANCE ------ Acces Industrie (8) 106 (35) Arbel PA.ARB (98) 222 (72) Banque Nationale de Paris Guyane BNPG (41) 352 N.A. BSN Glasspack (101) 1,151 179 Charbo De France (3,872) 4,738 (2,868) Compagnie Francaise de l'Afrique Occidentale (65) 256 21 Compagnies de Machines Bull (139) 137 (6) Dollfus Mieg & Cie S.A. DS (11) 165 (29) Euro Computer System (110) 682 377 Genesys S.A. GNS.PA (15) 136 3 Grande Paroisse S.A. (927) 629 330 Immob Hoteliere (68) 233 29 Labo Dolisos DOLI.PA (28) 110 (33) LVL Medical Group LVLM.PA (9) 105 (5) Matussiere et Forest S.A. MTF (78) 294 (28) Metaleurop S.A. PA.PA (24) 181 (30) Oeneo S.A. SABT.PA (12) 292 38 Pneumatiques Kleber S.A. (34) 480 139 SDR Centrest (132) 252 N.A. SDR Picardie (135) 413 N.A. Soderag (3) 404 N.A. Sofal S.A. (305) 6,619 N.A. Spie-Batignolles (16) 5,281 75 St Fiacre (FIN) (1) 111 (33) Teamlog TLO (19) 109 (3) Trouvay Cauvin (0) 134 10 Usines Chausson (23) 249 35 GERMANY ------- Cognis Deutschland GmbH & Co. KG (102) 3,409 (503) Dortmunder Actien-Brauerei DABG (13) 118 (29) EM.TV AG EV4G.BE (22) 849 15 F.A. Guenther & Son AG GUSG (8) 111 N.A. Kaufring AG KAUG (19) 151 (51) Maternus Kliniken AG MAK.F (3) 207 (30) Nordsee AG (8) 195 (31) Primacom AG PRIG (268) 1,257 (1,048) Rinol AG RLIG (25) 178 (53) Schaltbau Hold SLTG (23) 122 (7) Senator Entertainment AG SENGk.BE (153) 126 (148) SinnLeffers AG WHGG (4) 454 (145) Spar Handels- AG SPAG (442) 1,433 (234) Vivanco Gruppe (55) 131 (31) GREECE ------ DryShips Inc. DRYS (4) 184 (29) HUNGARY ------- NABI Rt. NABHY (2) 229 (8,950) ITALY ----- Binda S.p.A. BND (11) 129 (20) Cirio Finanziaria S.p.A. (422) 1,583 (396) Credito Fondiario e Industriale S.p.A. (200) 4,218 N.A. Finpart S.p.A. (152) 732 (322) Gruppo Coin S.p.A. GC (150) 4,218 N.A. I Grandi Viaagi S.p.A. IGV.MI (31) 533 (140) Lazio S.p.A. LAZI (27) 426 (175) Olcese S.p.A. OLCI.MI (13) 180 (64) Parmalat Finanziaria S.p.A. (18,419) 4,121 (12,481) Technodiffusione Italia S.p.A. TDIFF.PK (90) 152 (24) NETHERLANDS ----------- Baan Company N.V. BAAN (8) 610 46 Numico N.V. NUMC (422) 1,982 376 United Pan-Euro Air UPC (5,266) 5,180 (8,730) NORWAY ------ Petroleum-Geo Services PGO (32) 2,963 (5,250) POLAND ------ Mostostal Zabrze MECOF.PK (6) 227 (366) ROMANIA ------- Oltchim RM Valce OLT (45) 232 321) RUSSIA ------ OAO Samaraneftegas (332) 892 (321) Zil Auto (168) 409 (10,680) SPAIN ----- Altos Hornos de Vizcaya S.A. (116) 1,283 (278) Avanzit S.A. AVZ.MC (117) 457 (247) Santana Motor S.A. (46) 223 41 Sniace S.A. (16) 136 (34) TURKEY ------ Nergis Holding (24) 125 26 Yasarbank (948) 623 N.A. UNITED KINGDOM -------------- Abbott Mead Vickers (2) 168 (16) AEA Technology Plc AAT.L (24) 340 (50) Alldays Plc (120) 252 (202) Amey Plc (49) 932 (47) Anker PLC ANK.L (22) 115 13 Avis Europe PLC AVE.L (24) 2,686 (420) Bonded Coach Holiday Group Plc (6) 188 (44) Blenheim Group (153) 198 (34) Booker Plc BKRUY (60) 1,298 (8) Bradstock Group BDK (2) 269 5 Brent Walker Group BWL (1,774) 867 (1,157) British Energy Plc BGY (5,823) 4,921 434 British Nuclear Fuels Plc (4,248) 40,326 977 British Sky Broadcasting Group Plc BSY (61) 4,157 139 Compass Group CPG (668) 2,972 (298) Costain Group COST (70) 489 2 Danka Bus System DNK.L (108) 540 34 Dawson Holdings DWN.L (12) 158 (19) Drax Group Limited DRX.L (832) 2,353 84 Easynet Group ESY.L (45) 323 38 Electrical and Music Industries Group EMI (1,411) 3,235 (331) Euromoney Institutional Investor Plc ERM.L (88) 297 (56) European Home Retail Plc EHRL (14) 111 (37) Gallaher Group GLH (421) 7,866 5 Gartland Whalley (11) 145 (8) Global Green Tech Group (156) 408 (18) Gondola Holdings Plc GND.L (239) 987 (396) Heath Lambert Fenchurch Group Plc (10) 4,109 (10) HMV Group Plc HMV (9) 875 (190) Homestyle Group Plc HME (29) 409 (124) Invensys PLC (963) 4,861 913 IPC Media Ltd. (685) 254 16 Jarvis Plc JRVS.L (683) 492 (371) Lambert Fenchurch Group (1) 1,827 3 Lattice Group (1,290) 12,410 (1,228) Leeds United LDSUF.PK (73) 144 (29) M 2003 Plc (2,204) 7,205 (756) Manchester City (17) 154 (21) Micro Focus International Plc MCRO.L (14) 115 (11) Misys Plc MSY (460) 906 60 Mytravel Group MT.L (1,613) 2,199 (463) Orange Plc ORNGF (594) 2,902 7 Park Group Plc PKG.L (5) 111 (13) Partygaming Plc PRTY (405) 263 (161) Premier Foods Plc PFD.L (29) 1,059 20 Probus Estates Plc PBE.L (28) 113 (264) Regus Plc RGU.L (46) 367 (60) Rentokil Initial Plc RTO (1,072) 3,382 (68) RHM Plc RHM (586) 2,411 59 Saatchi & Saatchi SSI (119) 705 (41) Seton Healthcare (11) 157 0 SFI Group (108) 178 (162) Telewest Communications Plc TLWT (3,702) 7,581 (5,361) Virgin Mobile Holdings Plc VMOB.L (101) 278 (80) Each Tuesday edition of the TCR-Europe contains a list of companies with insolvent balance sheets based on the latest publicly available balance sheet available to our editors at the time of publication. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. ********* 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. Jazel Laureno, Liv Arcipe, Julybien Atadero, and Carmel Paderog, 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. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$575 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Christopher Beard at 240/629-3300. * * * End of Transmission * * *