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        T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Friday, April 28, 2006, Vol. 7, No. 84

                            Headlines

A U S T R I A

BAWAG P.S.K: Refco Creditors' Suit Not Legitimate, CEO Says


C Z E C H   R E P U B L I C

TIBA DVUR: Regional Court Names S. Kuzela Interim Receiver
SAZKA A.S.: S&P Rates EUR215 Million Sr. Secured Bonds at B


D E N M A R K

NORDIC TELEPHONE: Pricing Private Debt Offer
TDC A/S: Board Approves 2005 Annual Report
TDC A/S: Parent to Price Private Debt Offer


F I N L A N D

METSO CORP: Fidelity Int'l. Holds 5.12% Equity Stake


G E R M A N Y

AAA HANDELS: Claims Registration Ends May 2
AGO IT: Claims Registration Ends May 2
FRISEUR YUEKSEL: Claims Registration Ends May 2
HAUSSERVICE RUEHLEMANN: Creditors' Meeting Slated for May 30
HEINRICH HUNDT: Creditors' Meeting Slated for May 30

HERBERT SPILLER: Claims Registration Ends April 30
IFB FREIZEITANLAGEN: Creditors' Meeting Slated for May 19
KIRNER ERDBAU: Claims Registration Ends May 1
LOGISTIK4YOU GMBH: Claims Registration Ends May 1
ROLVER VERWALTUNGS: Claims Registration Ends May 1


H U N G A R Y

PARMALAT HUNGARIA: Losses Tally Up to HUF2.05 Billion


I R E L A N D

NOMOS CAPITAL: Moody's Rates New Loan Participation Notes at Ba3


I T A L Y

IMPREGILO SPA: Hearing vs. Former Execs Transferred to Milan


K A Z A K H S T A N

AGROSTROISNAB: Creditors Have Until May 5 to File Claims
AMIR TRADING: Creditors Must File Claims by May 5
DJUNGARSKIE VOROTA: Creditors Must Submit Claims by May 5
FINKOR: Creditors Must File Claims by May 5
GALINIT: Creditors Must File Claims by May 5

KAMKOR: Creditors Given Until May 5 to Submit Claims
KAZAKH COMMODITY: Creditors Must File Claims by May 5
KORSOL-PV: Creditors Must File Claims by May 5
MAESTRO GROUP: Creditors' Claim Due May 5
OTYRAR: Court Sets May 5 Claims Bar Date


K Y R G Y Z S T A N

ELSOFT: Creditors Must Submit Claims by June 12
ENERGO IT: Creditors Must Submit Claims by June 12
GARANT+: Creditors Must Submit Claims by June 12
KIRPICH LUX: Creditors Must Submit Claims by June 12


P O L A N D

NETIA SA: Adopts Share Capital Decrease & Statute Changes


R U S S I A

ATLANTIC INK: Claims Filing Period Ends May 11
GRAIN RECEIVING ENTERPRISE: Proofs of Claim Deadline Set May 4
GRINEVSKOYE: Bankruptcy Hearing Set for June 28
KANSKIY: Proofs of Claim Deadline Slated for May 4
KRASNOGORSKIY AGRO-PROM-SNAB: Court Begins Bankruptcy Process

MEDYAKOVSKOYE: Claims Filing Period Ends May 4
NOMOS BANK: Moody's Rates New Loan Participation Notes at Ba3
PROM-SEL-STROY-PROJECT: Under External Management Procedure
VORONEZHSKIY FOUNDRY: Deadline for Proofs of Claim Set May 4
YURGA-DREV: Declared Insolvent by Kemerovo Court

ZHDANOVSKIY WOOD-PROM-KHOZ: Claims Filing Period Ends May 11


U K R A I N E

BUDPROMKOMPLEKT: Court Names Yuliya Kolomatska Liquidator
LIPOVETSKE: Court Names Sergij Gorbach to Liquidate Assets
LUNA: Court Opens Bankruptcy Proceedings
NOVGORODKA' AGROPROMTEHNIKA: Court Begins Bankruptcy Process
RADEHIV' BREAD: Court Commences Bankruptcy Supervision

UKRAINIAN AGRO-INDUSTRIAL: Court Starts Bankruptcy Process
UROZHAJ: Cherkassy Court Starts Bankruptcy Supervision
VILAN: Sisoyev Oleksij Appointed Temporary Insolvency Manager
YATRANIVSKE: Sergij Smilyanets Named Interim Insolvency Manager


U N I T E D   K I N G D O M

AIZA LIMITED: Names Kroll Limited to Administer Assets
ARCHITEN LANDRELL: Hires Administrator from Moore Stephens
C.B.A. ENTERPRISE: Taps Stoy Hayward to Administer Assets
CE- AIR LIMITED: Names Unity Corporate Recovery Administrator
COMBINED PLANT: Names Tenon Recovery Administrator

CONWAY KITCHENS: Hires Filippa Connor as Administrator
CRADLEY PRINT: Taps Joint Administrators from PKF
HILL MASON: Appoints S. F. Plant & Co. Administrator
MAYFAIR CELLARS: Hires Grant Thornton to Administer Assets
MKN CONTRACTORS: Appoints Menzies Corporate Administrator

NAIL CONCEPTS: Creditors Decide to Liquidate Assets
NAJMA TELECOM: Creditors Confirm Voluntary Liquidation
PLANART LIMITED: Claims Registration Ends May 5
SMS SERVICES: Hires Joint Liquidators from Milner Boardman
SENTRY GUARD: Creditors Agree to Voluntary Liquidation

SOLENT SEAMLESS: Creditors Pass Winding Up Resolution
TOUCAN SCREENPRINT: Financial Woes Trigger Liquidation
ULTIMA WINDOW: Names Alan Tomlinson to Liquidate Assets
UNITED SECURITY: Liquidates Assets & Appoints Liquidator
W. EVERARD: Claims Filing Period Ends April 30

                            *********

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


BAWAG P.S.K: Refco Creditors' Suit Not Legitimate, CEO Says
-----------------------------------------------------------
As reported in the Troubled Company Reporter-Europe on April 27,
Refco Inc.'s creditors requested the U.S. Bankruptcy Court for
the Southern District of New York to be allowed to file a US$1.3
billion suit against BAWAG P.S.K.  The decision on whether this
request will be allowed has to be made by the court and needs to
be awaited.

The Austrian bank dismissed the suit as illegitimate rejecting
claims that it abetted in Refco's collapse, Reuters said.

According to published reports, BAWAG Chief Executive Ewald
Nowotny denied that BAWAG maybe linked with Refco's collapse.
He reiterated that BAWAG was a victim, not a perpetrator in the
collapsed commodities broker's case, adding that the bank is
"resisting vehemently against any attempt to link us to the
Refco insolvency in any way."

BAWAG is convinced that it will be successful in proving to the
court that the bank itself was a victim of massive fraud by
Refco and former Refco Chief Executive Phillip Bennett.  The
bank assumes that these facts and circumstances will be
confirmed in the course of the proceedings.

At present, BAWAG has no information about the specific contents
of the allegations made by the Refco creditors.  Once the
information is available, the bank's lawyers will start dealing
with the same.

According to the TCR-Europe report, the Hon. Robert D. Drain of
the Manhattan Court froze BAWAG's US$1.3 billion in U.S. assets
after Refco's creditors filed a suit seeking more than US$1.3
billion from bank.  Mr. Nowotny, however, said that BAWAG's U.S.
assets were worth less than US$1.3 billion.

The creditors accused BAWAG of aiding a five-year fraud
orchestrated by Mr. Bennett that drove Refco into bankruptcy.
The creditors said BAWAG continued to assist Mr. Bennett in
"consummating the transactions as a means of accomplishing
BAWAG's own payday" despite being "fully aware of the harm that
Bennett was inflicting" on Refco.

Judge Drain gave Bawag until Monday, May 1, to challenge an
order freezing its US$1.3 billion assets in the U.S.

According to Reuters, BAWAG allegedly wrote off around EUR400
million after granting a hastily arranged loan to Refco few
hours before the commodities broker revealed that Mr. Bennet had
hidden US$430 million in losses off the books.  The bank then
emerged as one of Refco's largest creditors in the group's
bankruptcy proceedings.

Mr. Nowotny said the bank's impending sale would continue
despite the lawsuit.  Analysts value BAWAG at EUR1.1 billion to
EUR1.6 billion.  BAWAG, owned by the Austrian Labor Federation,
had made losses in offshore dealings since the mid-1990s but hid
them since 2000.  The move triggered the resignation of the
Federation's president and its eventual sale.

BAWAG, formally known as Bank Fuer Arbeit und Wirtschaft AG,
already filed a suit in November against Refco and Mr. Bennett,
for fraud, unjust enrichment and deception in an attempt to
recover EUR350 million in credit.

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.

Headquartered in Vienna, Austria, BAWAG P.S.K. had total assets
of EUR56.3 billion as of Dec. 31, 2004.

                        *     *     *

As reported in the Troubled Company Reporter-Europe on March 29,
Moody's Investors Service has downgraded to C- from C the bank
financial strength rating of Bawag P.S.K. Bank fuer Arbeit und
Wirtschaft und Oesterreichische Postsparkasse AG (Bawag P.S.K.)
and put this rating as well as all other short- and long-term
ratings of BAWAG P.S.K. on review for possible downgrade.

These ratings were put under review for possible downgrade:

   -- Bawag P.S.K. long-term debt and deposit rating of A3;

   -- Bawag P.S.K. short-term debt and deposit rating of P-1;

   -- Bawag P.S.K. FSR of C-;

   -- Bawag Capital Finance (Jersey) Ltd debt and deposit rating
      of Baa2;

   -- Bawag Capital Finance (Jersey) II Ltd debt and deposit
      rating of Baa2; and

   -- Bawag Capital Finance (Jersey) III Ltd debt and deposit
      rating of Baa2.


===========================
C Z E C H   R E P U B L I C
===========================


TIBA DVUR: Regional Court Names S. Kuzela Interim Receiver
----------------------------------------------------------
The Hradec Kralove Regional Court appointed Stanilav Kuzela as
interim receiver for Tiba Dvur Kralove nad Labem to study the
state of the Czech textile company's assets which would help the
court decide whether to declare the company bankrupt, CTK Czech
News Agency reports.

The court's decision to appoint an interim receiver on April 21,
follows the involuntary bankruptcy filing brought by some of
Tiba's creditors, which included water utility Vodovody a
kanalizace Dvur Kralove, company Hradubice and the municipality
of Dvur Kralove.

"We do not recognize the claims," Tiba Board Deputy Chairman
Martin Klodner told CTK.  "Production in Tiba continues as
usual."

Board Chairman Stanislav Sedlacek disclosed that Tiba, which
launched its restructuring last year, lost supplier loans owing
to the bankruptcy petition.  According to CTK, Mr. Sedlacek
suggested that some receivers plotted the bankruptcy petition to
get hold of the company's assets.

Based in Dvur Kralove nad Labem, Tiba Dvur Kralove nad Labem --
http://www.tiba.cz/-- is the largest Czech maker of printed
textiles.  The company reported sales of around CZK700 million
in 2005.  A loss of CZK153 million was posted in 2004.  Tiba
employs over 800 staff in three plants.



SAZKA A.S.: S&P Rates EUR215 Million Sr. Secured Bonds at B
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on the Czech Republic-based gaming
company SAZKA a.s. to 'B' from 'B+'.  At the same time, it
assigned its 'B' rating to the proposed EUR215 million senior
secured bonds, due to refinance the EUR175 million existing
ones.  The ratings remain on CreditWatch with negative
implications, where they were placed on March 13, 2006.

"The downgrade reflects SAZKA's aggressive financial leverage
following the completion of the refinancing," said Standard &
Poor's credit analyst Helene Magny.  Standard & Poor's expects
SAZKA's lease-adjusted net debt to EBITDA to be approximately
5.5x by the end of 2006.

"The continued CreditWatch negative status relates to the
possibility that the exchange offer could be rejected, as well
as to the pending mortgage issue on the existing bonds," said
Ms. Magny.  If the proposed bond is successful, the ratings will
be removed from CreditWatch and affirmed at 'B', with a stable
outlook. This would be based on the expectation that total net
debt adjusted for leases and debt-like obligations (notably
relating to GTECH, GSM operators, and employees) would remain
below Czech koruna (Czk)9 billion at year-end 2006 and would
significantly decrease thereafter.  It would also reflect our
expectations that free cash flow would be slightly positive
starting from 2007.


=============
D E N M A R K
=============


NORDIC TELEPHONE: Pricing Private Debt Offer
--------------------------------------------
Nordic Telephone Company Holding ApS, which through its direct
subsidiary Nordic Telephone Company ApS owns and controls 88.2%
of the share capital of TDC A/S, is expected to set prices on a
private offering of notes, with NTCH as the sole obligor.

In connection with the offering, NTCH will publish a final
offering memorandum, which contains relevant information about
the TDC group, its businesses and the industry in which the TDC
group operates, including certain financial performance
estimates for the first quarter of 2006.

Compared to the preliminary offering memorandum, of which TDC
disclosed the parts that contained relevant information about
the TDC group, the final offering memorandum contains, among
other things, financial performance estimates for the first
quarter of 2006, produced as a result of TDC's ongoing
compilation and verification of financial data:

    * Based on present available information TDC estimates that
      cash flow from operating activities for the first quarter
      of 2006 will be lower than for the first quarter of 2005,
      primarily due to a negative change in net working capital,
      which was partly offset by an estimated improved EBITDA
      before special items.

    * The change in net working capital is primarily due to one-
      off items, consisting of an advisory fee paid by TDC Q1
      2006 in connection with the NTC equity Tender Offer and
      the positive effect in 2005 (not repeated in 2006) of
      accrued withholding taxes at the end of Q1 2005 associated
      with TDC's dividend to its shareholders declared in March
      2005. The accrued withholding taxes were paid to the
      Danish tax authorities in the second quarter of 2005.

    * TDC estimates that its capital expenditures for the first
      quarter of 2006, adjusted for the impact of the
      consolidation of the capital expenditures in acquired and
      divested enterprises, such as Dotcom and HTCC, will be in
      line with the first quarter of 2005.

The Company discloses that the above-mentioned estimates are
based on financial information that is not final and changes may
be made in connection with the final compilation and
verification.

TDC will issue its earnings release for the first quarter of
2006 on May 4.

Headquartered in Copenhagen, Denmark, TDC A/S --
http://www.tdc.com/-- provides communications solutions in
Denmark and is the second-largest telecommunications provider on
the Swiss market.  It has a presence in a number of select
markets in Northern and Central Europe due to its shareholdings
in major companies.

Nordic Telephone Company Holding ApS is a holding company of TDC
A/S, the Danish diversified telecommunications operator with
operations in Switzerland and in selected Northern and Central
European markets.  In 2005, TDC generated revenue of DKK46.588
billion (EUR6.245 billion) and EBITDA before special items of
DKK13.003 billion (EUR1.743 billion).

                        *     *     *

As reported in the Troubled Company Reporter on April 21,
Moody's Investors Service assigned a (P)B2 rating to the
proposed issuance of EUR2.031 billion in senior notes and
floating rate notes (split between the two tranche to be
determined) by Nordic Telephone Company Holding ApS, the 88.2%
majority owner of the Danish diversified telecommunications
operator TDC A/S.  Moody's said the outlook on the rating is
stable.  Fitch rated the upcoming issue at an expected B+
rating.

At the same time, NTCH carries Standard & Poor's BB- long-term
corporate credit rating with a stable outlook.


TDC A/S: Board Approves 2005 Annual Report
------------------------------------------
At its Annual General Meeting on April 26, TDC A/S approved the
company's 2005 Annual Report and discharged the Board and the
Executive Committee from their obligations in respect to the
financial statements.

The company disclosed that the proposal presented by the Board
regarding the approporiation of profit was approved at the
meeting.  Net income is being forwarded to the next year.

                  Board Composition

Five members of the Board of Directors were re-elected:

   -- Kurt Bjorklund,
   -- Lawrence H. Guffey,
   -- Oliver Haarmann,
   -- Gustavo Schwed, and
   -- Richard Charles Wilson.

Vagn Ove Sorensen was elected as member of the Board of
Directors.

Furthermore, five alternatives were elected:

   -- Ola Nordquist for Mr. Bjorklund,
   -- Jan Nielsen for Mr. Guffey,
   -- Nicholas Gheysens for Mr. Haarmann,
   -- Torsten Winkler for Mr. Schwed, and
   -- Andrew Sillitoe for Mr. Wilson.

In addition to these members, the Board of Directors consists
also of four employee-elected board members:

   -- Jan Bardino
   -- Leif Hartmann
   -- Steen Jacobsen, and
   -- Bo Magnussen.

PriceWaterhouseCoopers was re-elected as auditor.

The Board of Directors was authorized -- until the next Annual
General Meeting -- to allow the Company to acquire treasury
shares at a total nominal value of up to 10 percent of the share
capital of the Company, cf. Section 48 of the Danish Companies
Act.  The purchase price of the shares in question must not
deviate by more than 10 percent from the price quoted on the
Copenhagen Stock Exchange at the time of acquisition.  In the
event the shares are not listed on the Copenhagen Stock Exchange
at the time of acquisition, the purchase price must not deviate
by more than 10 percent from the market value of the shares at
the time of acquisition.

In addition, the Board amended the Company's Articles of
Association authorizing it to:

   -- issue warrants entitling subscription of shares at a
      nominal value of up to DKK49,593,790 shares in the Company
      (without any pre-emption right for the shareholders of the
      Company) and to implement the cash capital increases
      relating to the warrants;

   -- distribute interim dividends, provided that the
      Company's and the group's financial position warrants the
      distribution; and

   -- elect a Vice Chairman so that in the absence of the
      Chairman the Vice Chairman shall act as Chairman.

At a subsequent board meeting the Board of Directors elected Mr.
Bjorklund as Chairman and Mr. Sorensen as Vice Chairman.

Headquartered in Copenhagen, Denmark, TDC A/S --
http://www.tdc.com/-- provides communications solutions in
Denmark and is the second-largest telecommunications provider on
the Swiss market.  It has a presence in a number of select
markets in Northern and Central Europe due to its shareholdings
in major companies.

                        *     *     *

As reported in the Troubled Company Reporter on April 21, Fitch
affirmed TDC A/S's Issuer Default Rating at BB- with Stable
Outlook and senior secured bank facilities at BB+.  The various
notes issued under TDC's EMTN program are affirmed at BB-.


TDC A/S: Parent to Price Private Debt Offer
-------------------------------------------
Nordic Telephone Company Holding ApS, which through its direct
subsidiary Nordic Telephone Company ApS owns and controls 88.2%
of the share capital of TDC A/S, is expected to set prices on a
private offering of notes, with NTCH as the sole obligor.

In connection with the offering, NTCH will publish a final
offering memorandum, which contains relevant information about
the TDC group, its businesses and the industry in which the TDC
group operates, including certain financial performance
estimates for the first quarter of 2006.

Compared to the preliminary offering memorandum, of which TDC
disclosed the parts that contained relevant information about
the TDC group, the final offering memorandum contains, among
other things, the following additional financial performance
estimates for the first quarter of 2006, produced as a result of
TDC's ongoing compilation and verification of financial data:

    * Based on present available information TDC estimates that
      cash flow from operating activities for the first quarter
      of 2006 will be lower than for the first quarter of 2005,
      primarily due to a negative change in net working capital,
      which was partly offset by an estimated improved EBITDA
      before special items.

    * The change in net working capital is primarily due to one-
      off items, consisting of an advisory fee paid by TDC Q1
      2006 in connection with the NTC equity Tender Offer and
      the positive effect in 2005 (not repeated in 2006) of
      accrued withholding taxes at the end of Q1 2005 associated
      with TDC's dividend to its shareholders declared in March
      2005. The accrued withholding taxes were paid to the
      Danish tax authorities in the second quarter of 2005.

    * TDC estimates that its capital expenditures for the first
      quarter of 2006, adjusted for the impact of the
      consolidation of the capital expenditures in acquired and
      divested enterprises, such as Dotcom and HTCC, will be in
      line with the first quarter of 2005.

The Company discloses that the above-mentioned estimates are
based on financial information that is not final and changes may
be made in connection with the final compilation and
verification.

TDC will issue its earnings release for the first quarter of
2006 on May 4.

Nordic Telephone Company Holding ApS is a holding company of TDC
A/S, the Danish diversified telecommunications operator with
operations in Switzerland and in selected Northern and Central
European markets.  In 2005, TDC generated revenue of DKK46.588
billion (EUR6.245 billion) and EBITDA before special items of
DKK13.003 billion (EUR1.743 billion).

Headquartered in Copenhagen, Denmark, TDC A/S --
http://www.tdc.com/-- provides communications solutions in
Denmark and is the second-largest telecommunications provider on
the Swiss market.  It has a presence in a number of select
markets in Northern and Central Europe due to its shareholdings
in major companies.

                        *     *     *

As reported in the Troubled Company Reporter on April 21, Fitch
affirmed TDC A/S's Issuer Default Rating at BB- with Stable
Outlook and senior secured bank facilities at BB+.  The various
notes issued under TDC's EMTN program are affirmed at BB-.


=============
F I N L A N D
=============


METSO CORP: Fidelity Int'l. Holds 5.12% Equity Stake
----------------------------------------------------
Fidelity International Limited and its subsidiaries increased
its holding of the paid up share capital of Metso Corporation.

On April 21, Fidelity International and its subsidiaries owned a
total of 7,251,782 Metso shares, which corresponds to 5.12% of
the paid up share capital and voting rights of Metso.  On the
basis of the previous announcement, their holding was 3.98% on
March 29.

According to the announcement of Fidelity International Limited,
their holdings on April 21, were:

   Fund Name                            Shares
   ---------                         ---------
   FIJ IT Euro Smllr Cos OPN MTHR       16,700
   Fidelity European OPP FND 1992      220,600
   Fifteen Re Fidelity                 210,500
   FID FDS - European Growth Pool    3,270,099
   FID FDS - Nordic Pool               433,800
   FID FDS - Euro Blue Chip Pool       969,615
   FID FDS - Euro Smaller Co Pool      340,600
   EP MM Clapp                          57,600
   STC Intl Equity Fund - ROW           37,600
   SGE MM ROW                           21,000
   GEC 1972 PLN GLB EQTY FD - ROW       43,400
   Church Comm for England - ROW        31,300
   British Energy Gen Grp - ROW         17,800
   IBM Denm Select - Global EX-US       11,500
   Accident Rehab & CMP - GLB EX-US     67,700
   IBM Austria Global EX US              4,200
   AFP Unilever Schweiz - GBL EX US      6,100
   Deutsche Artze - ROW                 10,800
   FMT_GL ROW                           45,800
   East Sussex Cnty Council - ROW       44,000
   Railways Pens Equity - EUROPE       215,200
   Chevron Texaco UK PNS PL-ROW         22,100
   Australia - Funds SA                 56,300
   Saint-Gobain UK Pension Scheme       51,800
   Shell Austria Pensionskasse AG       12,400
   DBI - Fonds Dspt- A1                 41,800
   NPC Trust - Active 1 - ROW            8,400
   Bayvk A1 Fidelity                    70,000
   MV4 Actions Euro                     52,024
   FF-Inst Euro Blue Chip Pool          48,975
   Stichting Bedrijf Voor De Meta      232,600
   GM Investment Trustees Ltd           38,900
   The Pensions Trust - GC              12,000
   Fidelity European Pilot Fund            916
   Victorian Funds Mgmt Corp            19,000
   GIC MM European Eq Fund - Gc         13,900
   Fidelity Eurozone Eq Pilot FD         1,970
   A/C 16MSFSLE                         90,900
   Fidelity European Cycl PLT FD         2,300
   SPH - Select Europe                  62,300
   SPMS-Select Europe                   41,000
   Fidelity Select Global Eq Fund        6,200
   Fid Aus Europe Fund                  16,300
   Fid Instl Select Europe Eq Fd        41,400
   Unilever PRG Small Cap Europe        12,800
   Basf AG - European Small Caps        43,200
   Multi Style Mult Mgr Eur Sm Cp       32,700
   Stchg Bd V De Mt En Tch Bd Esc       39,100
   Co-Operative Grp Pens - Rw           26,100
   Gkn Group Pension Scheme - ROW       32,500
   Unilever (Superann) Ireland - ROW    18,700
   Ibm Irel Sel Glbl Equities ROW        2,200
   Ibm Austria Select Glbl Eq ROW        5,600
   European Equity Mkt Neut Long        22,383
                                     ---------
   Total                             7,251,782 Shares

Headquartered in Helsinki, Finland, Metso Corporation --
http://www.metso.com/-- is a global engineering and technology
corporation with 2005 net sales of approximately EUR4.2 billion.
Its 22,000 employees in more than 50 countries serve customers
in the pulp and paper industry, rock and minerals processing,
the energy industry and selected other industries.

                        *     *     *

As reported in TCR-Europe on April 11, Standard & Poor's Ratings
Services revised its outlook on Finland-based machinery and
engineering group Metso Corp. to positive from stable,
reflecting improvements in the group's operating performance and
capital structure that offer it the potential to return to a low
investment-grade rating.  The 'BB+' long-term and 'B' short-term
corporate credit ratings, as well as the 'BB' senior unsecured
debt rating on the group were affirmed.


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


AAA HANDELS: Claims Registration Ends May 2
-------------------------------------------
Creditors of AAA Handels GmbH have until May 2, to register
their claims with court-appointed provisional administrator
Sonke Hansen.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on June 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 Hamburg
         Saal B 405
         4. Etage
         Sievekingplatz 1
         20355 Hamburg, Germany

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 Hamburg opened bankruptcy proceedings
against AAA Handels GmbH on March 7.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         AAA Handels GmbH
         Attn: Natalie Kopittke, Manager
         Kieler Strasse 347 a
         22525 Hamburg, Germany

The provisional administrator can be contacted at:

         Sonke Hansen
         Monckebergstrasse 17
         20095 Hamburg, Germany
         Tel: 309694-0


AGO IT: Claims Registration Ends May 2
--------------------------------------
Creditors of AGO IT -- Services+Projektmanagement GmbH have
until May 2, to register their claims with court-appointed
provisional administrator Stephan Neubauer.

Creditors and other interested parties are encouraged to attend
the meeting at 11:10 a.m. on June 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 Hamburg
         Saal B 405
         4. Etage
         Sievekingplatz 1
         20355 Hamburg, Germany

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 Hamburg opened bankruptcy proceedings
against AGO IT -- Services+Projektmanagement GmbH on March 24.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         AGO IT -- Services+Projektmanagement GmbH
         Attn: Peter Georg Kostler, Manager
         Mexikoring 33
         22297 Hamburg, Germany

The administrator can be contacted at:

         Stephan Neubauer
         Spitalerstrasse 4
         20095 Hamburg, Germany
         Tel: 334010
         Fax: 33401521


FRISEUR YUEKSEL: Claims Registration Ends May 2
-----------------------------------------------
Creditors of Friseur Yueksel GmbH have until May 2, to register
their claims with court-appointed provisional administrator Dr.
Helmut Hemmerling.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on June 13, 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 Karlsruhe
         Saal IV/1. OG
         Schlossplatz 23
         76131 Karlsruhe, Germany

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 Karlsruhe opened bankruptcy proceedings
against Friseur Yueksel GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Friseur Yueksel GmbH
         Attn: Rstem Yueksel, Manager
         Karlsruher Str. 16
         76351 Linkenheim-Hochstetten, Germany

The administrator can be contacted at:

         Dr. Helmut Hemmerling
         Talstr. 108
         70188 Stuttgart, Germany
         Tel: (0711) 168670


HAUSSERVICE RUEHLEMANN: Creditors' Meeting Slated for May 30
------------------------------------------------------------
Court-appointed provisional administrator for Hausservice
Ruehlemann GmbH, Herbert Feigl, will present his first report on
the Company's insolvency proceedings at a creditors' meeting at
9:15 a.m., on May 30.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Halle-Saalkreis
         Saal 1.043
         Justizzentrum
         Thueringer Str. 16
         06112 Halle, Germany

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.

Creditors have until May 2, to register their claims with the
court-appointed provisional administrator.

The District Court of Halle-Saalkreis opened bankruptcy
proceedings against Hausservice Ruehlemann GmbH on March 2.
Consequently, all pending proceedings against the company have
been automatically stayed

The Debtor can be reached at:

         Hausservice Ruehlemann GmbH
         Attn: Sirko Ruehlemann, Manager
         Querfurter Str.
         06268 Liederstadt, Germany

The administrator can be reached at:

         Herbert Feigl
         Hansering 1
         D-06108 Halle, Germany
         Tel: 0345/212220
         Fax: 0345/2122222


HEINRICH HUNDT: Creditors' Meeting Slated for May 30
----------------------------------------------------
Court-appointed provisional administrator for Heinrich Hundt
GmbH & Co. KG, Kai Roehler, will present his first report on the
Company's insolvency proceedings at a creditors' meeting at 1:00
p.m., on May 30.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Hof
         Sitzungssaal 012
         Berliner Platz 1
         95030 Hof, Germany

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.

Creditors have until May 2, to register their claims with the
court-appointed provisional administrator.

The District Court of Hof opened bankruptcy proceedings against
Heinrich Hundt GmbH & Co. KG on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed

The Debtor can be reached at:

         Heinrich Hundt GmbH & Co. KG
         Ascher Strasse 8
         95111 Rehau, Germany

The administrator can be reached at:

         Kai Roehler
         Aussere Sulzbacher Str. 159
         90491 Nuernberg, Germany
         Tel: 0911/9593690
         Fax: 0911/95936999


HERBERT SPILLER: Claims Registration Ends April 30
--------------------------------------------------
Creditors of Herbert Spiller, Transporte GmbH & Co. KG have
until April 30, to register their claims with court-appointed
provisional administrator Wilfried Pohle.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on May 19, 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, Germany

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 Herbert Spiller, Transporte GmbH & Co. KG on March 10.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Herbert Spiller, Transporte GmbH & Co. KG
         Attn: Hubertus Roland Harald Spiller, Manager
         Hochsauerlandstrasse 82
         59955 Winterberg, Germany

The administrator can be contacted at:

         Wilfried Pohle
         Bahnstrasse 1
         34431 Marsberg, Germany
         Tel: 02992-973716
         Fax: 02992-973771


IFB FREIZEITANLAGEN: Creditors' Meeting Slated for May 19
---------------------------------------------------------
Court-appointed provisional administrator for IFB
Freizeitanlagen-Betriebsgesellschaft Willich mbH, Dr. Wolf-R.
von der Fecht, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 11:05 a.m., on
May 19.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Krefeld
         Sitzungssaal H 131
         1. Etage
         Nordwall 131
         47798 Krefeld, Germany

The Court will also verify the claims set out in the
administrator's report at 10:06 a.m., on June 30, at the same
venue.

Creditors have until May 2, to register their claims with the
court-appointed provisional administrator.

The District Court of Krefeld opened bankruptcy proceedings
against IFB Freizeitanlagen-Betriebsgesellschaft Willich mbH on
March 8.  Consequently, all pending proceedings against the
company have been automatically stayed

The Debtor can be reached at:

         IFB Freizeitanlagen-Betriebsgesellschaft Willich mbH
         Attn: Monika Gruehn and Eckart Achauer, Managers
         Frankenseite 85
         47877 Willich, Germany

The administrator can be reached at:

         Dr. Wolf-R. von der Fecht
         Rheinort 1
         40213 Duesseldorf, Germany


KIRNER ERDBAU: Claims Registration Ends May 1
---------------------------------------------
Creditors of Kirner Erdbau GmbH have until May 1, to register
their claims with court-appointed provisional administrator Dr.
Wolfgang Maus.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on May 22, 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 Bad Kreuznach
         Saal 309
         Ringstrasse 79
         55543 Bad Kreuznach, Germany

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 Bad Kreuznach opened bankruptcy
proceedings against Kirner Erdbau GmbH on March 1.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Kirner Erdbau GmbH
         Attn: Peter Weiss, Manager
         Dhauner Str. 84
         55606 Kirn, Germany

The administrator can be contacted at:

         Dr. Wolfgang Maus
         Mannheimer Str. 254a
         D-55543 Bad Kreuznach, Germany
         Tel: 0671/79496-13
         Fax: 0671/79496-10


LOGISTIK4YOU GMBH: Claims Registration Ends May 1
-------------------------------------------------
Creditors of Logistik4You GmbH have until May 1, to register
their claims with court-appointed provisional administrator Dr.
Christian Potrafke.

Creditors and other interested parties are encouraged to attend
the meeting at 8:10 a.m. on May 17, 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 Monchengladbach
         Sitzungssaal A 14
         Hohenzollernstr. 157
         41061 Monchengladbach, Germany

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 Monchengladbach opened bankruptcy
proceedings against Logistik4You GmbH on March 22. Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Logistik4You GmbH
         Alte Zollstrasse 26 - 28
         41372 Niederkruechten
         Attn: Frank Homberg, Manager
         Andreasstrasse 10
         47441 Moers, Germany

The administrator can be contacted at:

         Dr. Christian Potrafke
         Eickesmuehle 8
         41238 Monchengladbach, Germany


ROLVER VERWALTUNGS: Claims Registration Ends May 1
--------------------------------------------------
Creditors of Rolver Verwaltungs-GmbH have until May 1, to
register their claims with court-appointed provisional
administrator Stephan Michels.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 22, 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 Muenster
         Sitzungssaal Saal 13 B
         Gerichtsstr. 2-6
         48149 Muenster, Germany

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 Muenster opened bankruptcy proceedings
against Rolver Verwaltungs-GmbH on Feb. 22.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Rolver Verwaltungs-GmbH
         Daruper Strasse 2
         48727 Billerbeck, Germany
         Attn: Siegfried Rolver, Manager
         Dachsweg 40
         48683 Ahaus, Germany

The administrator can be contacted at:

         Stephan Michels
         von-Vincke-Strasse 2
         48143 Muenster, Germany


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


PARMALAT HUNGARIA: Losses Tally Up to HUF2.05 Billion
-----------------------------------------------------
Parmalat Hungaria Dairy Rt. booked HUF2.05 billion in losses for
the year ended January 2006, says Napi Gazdasag citing
liquidation officer Ferenc Somogyi.

Parmalat, which is currently under liquidation, posted HUF433
million in actual losses for its latest financial review.
However, that figure excluded losses from the sale of equipment
and other assets, Napi Gazdasag relates.  Parmalat also booked
HUF656 million in losses from writing off receivables.
According to Mr. Somogyi, Parmalat's creditors can recover as
much as half of their claims.  Parmalat, however, will not pay
its other debt.

Mr. Somogyi has submitted Parmalat Hungaria's closing
liquidation statement to the Fejer County Court.

Parmalat Hungaria has been under liquidation since April 2004,
after suffering from years of losses.  The group has sold its
Szekesfehervar site to former supplier Alfoldi Tej Ertekesito es
Beszerzo (ATEB).

ATEB has been manning Parmalat export contracts to Croatia,
Bosnia and Albania.  ATEB, which has been operating the site
with losses, has negotiated to use the Parmalat brand.

Headquartered in Szekesfehervar, Hungary, Parmalat Hungaria
Dairy Rt. -- http://www.parmalat.hu/-- is a former unit of
collapsed Italian dairy group Parmalat S.p.A.  Parmalat Hungaria
had debt of HUF279 million (US$1.377 million) at the time of its
liquidation in April 2004.


=============
I R E L A N D
=============


NOMOS CAPITAL: Moody's Rates New Loan Participation Notes at Ba3
----------------------------------------------------------------
Moody's Investors Service assigned a rating of Ba3 to the Loan
Participation Notes to be issued by Nomos Capital Plc,
incorporated under the laws of Ireland, for the sole purpose of
providing a loan to Nomos-Bank (Russia).  The amount and the
tenor of the Notes have yet to be determined.  The outlook for
the rating is stable.

Moody's notes that the Ba3 rating assigned to the Notes is based
on the fundamental credit quality of the underlying obligor,
Nomos-Bank, rated at Ba3/NP/D- (stable), and does not factor in
any support from the bank's shareholders or the Russian
financial authorities; the rating also reflects the seniority of
the notes.

The bank's obligations under the loan received from Nomos
Capital Plc will rank at least pari passu in right of payment
with all other unsecured and unsubordinated obligations of
Nomos, except as otherwise provided by mandatory provisions of
applicable law.  Moody's notes that Russia is in general a
country with individual depositor preference, which may reduce
the recovery rates for the bondholders, especially if such
deposits were to represent a sizeable proportion of the bank's
liabilities in the event of liquidation.

According to the terms and conditions of the loan agreement,
Nomos-Bank must maintain on a consolidated basis (reported under
IFRS) a Tier-I capital adequacy ratio of at least 10% as well as
comply with the Central Bank's capital regulations and with a
number of other covenants such as negative pledge, limitations
on mergers and disposals, and transactions with affiliates.  The
rating agency notes that, while the likelihood of any of the
above-mentioned covenants being triggered is relatively low, any
such occurrence could potentially have adverse liquidity
implications for the bank and, if accompanied at that time by
deterioration in the bank's credit standing, might exert
additional downward pressure on its ratings.

Headquartered in Moscow, Russian Federation, Nomos-Bank reported
total consolidated assets of US$2.97 billion -- in accordance
with IFRS -- as at Dec. 31, 2005.

Nomos Capital Plc is the bank's special purpose vehicle
domiciled in Ireland.


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


IMPREGILO SPA: Hearing vs. Former Execs Transferred to Milan
------------------------------------------------------------
The hearing of the case against former executives of
construction group Impregilo S.p.A. will be moved to Milan from
Monza, Il Sole 24 Ore says.

Preliminary Judge Ambrogio Ceron granted the request of former
Impregilo chief executive Piergiorgio Romiti and former chairman
Paolo Savona to transfer the cases of account falsification and
market manipulation.
The former executives cited a technicality in Italian law, which
effects that the alleged market rigging occurred at the Milan
Stock Exchange and not at Impregilo's base in Monza, Il Sole 24
Ore relates.

Monza prosecutors plan to appeal Mr. Ceron's decision.

Headquartered in Milan, Italy Impregilo S.p.A. --
http://www.impregilo.it/-- is a leading engineering group in
Italy that has existed since 1906.  It generates more than EUR2
billion in annual revenue and employs more than 11,703 people.

Impregilo posted consolidated net sales of EUR2.4 billion,
compared to EUR2.9 billion in 2004.  It attributed the decrease
to a general downturn in sales volumes, the de-consolidation of
some operations and the absence of extraordinary items
recognized in 2004.  The Group posted a consolidated operating
loss of EUR254.4 million.  A significant factor in the result
was the aggregate operating loss (EUR260 million) of the non-
core businesses (Building & Services, Campania MSW Project,
Imprepar in liquidation), which are being sold/retired or are in
liquidation.

Net debt at Dec. 31, 2005, was EUR489.3 million (not including
net debt on discontinued operations), and was down by EUR672
million from Dec. 31 2004.  During the year, share capital was
increased by EUR651.9 million.  Shareholders' equity at Dec. 31,
2005, amounted to EUR516.7 million, an increase of EUR305
million from Dec. 31, 2004.  Impregilo is optimistic it could
achieve its profit forecast and debt-to-equity ratio of 0.5 in
2007.  Corporate restructuring specialist Lazard Freres & Co.
LLC is advising Impregilo.


===================
K A Z A K H S T A N
===================


AGROSTROISNAB: Creditors Have Until May 5 to File Claims
--------------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
LLP Agrostroisnab insolvent on Sept. 30, 2005.

Creditors have until May 5, to submit written proofs of claim
to:

         Dostyk Ave. 44-99
         Almaty, Kazakhstan
         Tel: 8 705 203 30-32


AMIR TRADING: Creditors Must File Claims by May 5
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
LLP Amir Trading Ltd. insolvent Dec. 22, 2005.  Bankruptcy
proceedings were introduced at the company.

Creditors have until May 5, to submit written proofs of claim
to:

         Chaplygina Str. 5
         Almaty, Kazakhstan
         Tel: 8 300 744 68-21


DJUNGARSKIE VOROTA: Creditors Must Submit Claims by May 5
---------------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
LLP Djungarskie Vorota insolvent on Oct. 17, 2005.

Creditors have until May 5, to submit written proofs of claim
to:

         Dostyk Ave. 44-99
         Almaty, Kazakhstan
         Tel: 8 705 203 30-32


FINKOR: Creditors Must File Claims by May 5
-------------------------------------------
The Specialized Inter-Regional Economic Court of West Kazakhstan
region declared LLP Finkor insolvent Feb. 14.  Bankruptcy
proceedings were introduced at the company.

Creditors have until May 5, to submit written proofs of claim
to:

         Evrazia Ave. 59/1
         Uralsk, Kazakhstan
         Tel: 8 (3112) 24-74-80


GALINIT: Creditors Must File Claims by May 5
--------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl region
declared LLP Galinit insolvent on Feb. 7.

Creditors have until May 5, to submit written proofs of claim
to:

         Suleimanova Str. 11 a, Room 7
         Taraz, Kazakhstan
         Tel: 8 (326(22, 2) 43-25-52


KAMKOR: Creditors Given Until May 5 to Submit Claims
----------------------------------------------------
The Specialized Inter-Regional Economic Court of West Kazakhstan
region declared OJSC Kamkor insolvent on Feb. 15.  Bankruptcy
proceedings were introduced at the company.

Creditors have until May 5, to submit written proofs of claim
to:

         Evrazia Ave. 59/1
         Uralsk, Kazakhstan
         Tel: 8 (3112) 24-74-80


KAZAKH COMMODITY: Creditors Must File Claims by May 5
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
Joint Venture Kazakh Commodity Limited insolvent on Nov. 16,
2005.

Creditors have until May 5, to submit written proofs of claim
to:

         Kazybek bi Str. 50, office 74-75
         Almaty, Kazakhstan
         Tel: 8 (3272) 72-18-09


KORSOL-PV: Creditors Must File Claims by May 5
----------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar region
declared LLP Korsol-PV insolvent on Jan. 30.

Creditors have until May 5, to submit written proofs of claim
to:

         Gagarina Str. 89-129
         Pavlodar, Kazakhstan
         Tel: 8 (3182) 45-47-31, 8 300 757 67-73


MAESTRO GROUP: Creditors' Claim Due May 5
-----------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
LLP Maestro Group insolvent on Dec. 7, 2005.

Creditors have until May 5, to submit written proofs of claim
to:

         Micro District Taugul- 3, House 138
         Almaty, Kazakhstan
         Tel: 8 333 223 07-71


OTYRAR: Court Sets May 5 Claims Bar Date
---------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
State Foreign Trade Company Otyrar insolvent on Dec. 26, 2005.

Creditors have until May 5, to submit written proofs of claim
to:

         Micro District Taugul- 3, House 138
         Almaty, Kazakhstan
         Tel: 8 333 223 07-71


===================
K Y R G Y Z S T A N
===================


ELSOFT: Creditors Must Submit Claims by June 12
-----------------------------------------------
LLC Elsoft has declared insolvency.  The proofs of claim will be
accepted until June 12.

The company can be contacted at: (0-502) 50-34-35


ENERGO IT: Creditors Must Submit Claims by June 12
--------------------------------------------------
LLC Energo IT has declared insolvency.  The proofs of claim will
be accepted until June 12.

The company can be contacted at (0-502) 52-99-94.


GARANT+: Creditors Must Submit Claims by June 12
------------------------------------------------
LLC Garant+ has declared insolvency.  Creditors have until
June 12, to submit written proofs of claim to:

         Auezova Str. 4-32
         Bishkek, Kyrgyzstan
         Tel: (+996 312) 26-39-12


KIRPICH LUX: Creditors Must Submit Claims by June 12
----------------------------------------------------
LLC Kirpich Lux has declared insolvency.  Creditors have until
June 12, to submit written proofs of claim to:

         Micro District Asanbai, 27-36
         Bishkek, Kyrgyzstan


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


NETIA SA: Adopts Share Capital Decrease & Statute Changes
---------------------------------------------------------
Netia SA (WSE: NET) received a decision from the Regional Court
in Warsaw on April 25, on:

   -- the registration of Netia's share capital decrease by the
      redemption of the company's 28,162,110 shares; and

   -- registration of changes to the Company's statute.

The share capital decrease and changes to Netia's statute were
adopted by Netia's annual shareholders' meeting held on
March 29.

Following the share capital decrease and the exercise of
subscription warrants until April 1, Netia's issued and
outstanding share capital was PLN386,062,498 and represented
386,062,498 shares, PLN1 par value per share, with each share
entitled to one vote at Netia's general meeting of shareholders.

                       Statute Changes

Registration of changes to the Company's statute included a
change of Section 5 of the statute, which reflects the structure
of the Company's share capital following the shares redemption,
and a change of Section 5B.6 of the statute.

The currently binding wording of the changed provisions of
Netia's statute include:

* Section 5A

The Company's share capital consists of the series A, A1, B, C,
C1, D, E, F, G, H and I shares, and J and K shares issued within
the conditional capital, of a nominal value of PLN1 each.

Series A to I shares constitute the share capital amounting to
PLN321.758.712, divided as follows:

   a) 5.000 ordinary registered series A shares;
   b) 1.000 preferred registered series A1 shares;
   c) 3.727.340 ordinary bearer series B shares;
   d) 17.079.974 ordinary bearer series C shares;
   e) 3.977 ordinary bearer series C1 shares;
   f) 5.500.000 ordinary bearer series D shares;
   g) 133.233 ordinary bearer series E shares;
   h) 2.250.000 ordinary bearer series F shares;
   i) 2.250.000 ordinary bearer series G shares;
   j) 284.932.578 ordinary bearer series H shares; and
   k) 5.875.610 ordinary bearer series I shares.

* Section 5B.6

The priority right to acquire series "K" shares (warrant) may be
executed not later than on Dec. 31, 2012, unless, subject to the
Supervisory Board's approval, the Management Board will shorten
the period for the execution of the priority right to acquire
series "K" shares (warrant) pursuant to a performance stock
option plan to be adopted by the Company's Supervisory Board for
the Netia Group."

Headquartered in Warsaw, Poland, Netia SA (B+/Stable/) --
http://netia.pl/-- is the leading alternative fixed-line
telecommunications operator in Poland.  It operates on the basis
of its own, state-of-the-art fiber-optic backbone network that
connects the largest Polish cities as well as its local access
networks.  Netia provides a broad range of telecommunications
services, including voice, data and network wholesale services.


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


ATLANTIC INK: Claims Filing Period Ends May 11
----------------------------------------------
Creditors of Atlantic Ink (TIN 7705153792) have until May 11, to
submit their proofs of claim to court-appointed insolvency
manager Mr. A. Polkhanov at:

         Post User Box 54
         125009, Moscow Region, Russia

The Arbitration Court of Moscow Region commenced bankruptcy
proceedings against the close joint stock company with the case
docketed as A40-21716/05-101-57B.

The Debtor can be reached at:

         Atlantic Ink
         Balchug Str. 22
         113035, Moscow Region, Russia


GRAIN RECEIVING ENTERPRISE: Proofs of Claim Deadline Set May 4
--------------------------------------------------------------
Creditors of Grain Receiving Enterprise have until May 4, to
submit their proofs of claim to court-appointed insolvency
manager Mr. Y. Dolgikh at:

        Serysheva Str. 42-22
        680038, Khabarovsk Region, Russia

The Arbitration Court of Khabarovsk Region commenced bankruptcy
proceedings against the limited liability company insolvent with
the case docketed as A73-6754/2005-38.

The Debtor can be reached at:

        Grain Receiving Enterprise
        Industrialnaya Str. 7v
        680006, Khabarovsk Region, Russia


GRINEVSKOYE: Bankruptcy Hearing Set for June 28
-----------------------------------------------
The Arbitration Court of Kursk Region will convene at 11:20
a.m., on June 28, to hear the bankruptcy supervision procedure
of close joint stock company Grinevskoye.  The case is docketed
as A-35-155/06 "G".

Mr. A. Zapryagaev has been appointed temporary insolvency
manager and can be reached at:

         Room 34, Lomonosova Str. 114/6
         394088, Voronezh Region, Russia

The Debtor can be reached at:

         Grinevskoye
         Konyshevksiy Region, Staraya Belitsa
         Kursk Region, Russia


KANSKIY: Proofs of Claim Deadline Slated for May 4
--------------------------------------------------
Creditors of Kanskiy have until May 4, to submit their proofs of
claim to court-appointed insolvency manager Mr. S. Grudyakov at:

         Building 4, Kansk, Sosnovyj Location, 70
         663606, Krasnoyarsk Region, Russia

The Arbitration Court of Krasnoyarsk Region commenced bankruptcy
proceedings against the close joint stock company with the case
docketed as A33-17602/2005.

The Debtor can be reached at:

         Kanskiy
         Kansk, Kzhivon Str. 3
         663602, Krasnoyarsk Region, Russia


KRASNOGORSKIY AGRO-PROM-SNAB: Court Begins Bankruptcy Process
-------------------------------------------------------------
The Arbitration Court of Bryansk Region commenced bankruptcy
proceedings against Krasnogorskiy Agro-Prom-Snab after finding
the open joint stock company insolvent.  The case is docketed as
A09-9787/05-27.

Mr. A. Pasechnik has been appointed insolvency manager and can
be reached at:

         Office 35, Ulyanova Str. 14
         241035, Bryansk Region, Russia

The Debtor can be reached at:

         Krasnogorskiy Agro-Prom-Snab
         Klintsovskiy Region, Krasnaya Gor
         Tsentralnaya Str. 1
         243160, Bryansk Region, Russia


MEDYAKOVSKOYE: Claims Filing Period Ends May 4
----------------------------------------------
Creditors of Medyakovskoye have until May 4, to file their
proofs of claim to court-appointed insolvency manager Mr. V.
Makarov at:

         Krasnoobsk, Post User Box 325
         630501, Novosibirsk Region, Russia
         Tel: 348-53-96

The Arbitration Court of Novosibirsk Region commenced bankruptcy
proceedings against the close joint stock company with the case
docketed as A45-19006/05-29/268.

The Debtor can be reached at:

         Medyakovskoye
         Kupinskiy Region, Medyakovo
         630754, Novosibirsk Region, Russia


NOMOS BANK: Moody's Rates New Loan Participation Notes at Ba3
-------------------------------------------------------------
Moody's Investors Service assigned a rating of Ba3 to the Loan
Participation Notes to be issued by Nomos Capital Plc,
incorporated under the laws of Ireland, for the sole purpose of
providing a loan to Nomos-Bank (Russia).  The amount and the
tenor of the Notes have yet to be determined.  The outlook for
the rating is stable.

Moody's notes that the Ba3 rating assigned to the Notes is based
on the fundamental credit quality of the underlying obligor,
Nomos-Bank, rated at Ba3/NP/D- (stable), and does not factor in
any support from the bank's shareholders or the Russian
financial authorities; the rating also reflects the seniority of
the notes.

The bank's obligations under the loan received from Nomos
Capital Plc will rank at least pari passu in right of payment
with all other unsecured and unsubordinated obligations of
Nomos, except as otherwise provided by mandatory provisions of
applicable law.  Moody's notes that Russia is in general a
country with individual depositor preference, which may reduce
the recovery rates for the bondholders, especially if such
deposits were to represent a sizeable proportion of the bank's
liabilities in the event of liquidation.

According to the terms and conditions of the loan agreement,
Nomos-Bank must maintain on a consolidated basis (reported under
IFRS) a Tier-I capital adequacy ratio of at least 10% as well as
comply with the Central Bank's capital regulations and with a
number of other covenants such as negative pledge, limitations
on mergers and disposals, and transactions with affiliates.  The
rating agency notes that, while the likelihood of any of the
above-mentioned covenants being triggered is relatively low, any
such occurrence could potentially have adverse liquidity
implications for the bank and, if accompanied at that time by
deterioration in the bank's credit standing, might exert
additional downward pressure on its ratings.

Headquartered in Moscow, Russian Federation, Nomos-Bank reported
total consolidated assets of US$2.97 billion -- in accordance
with IFRS -- as at Dec. 31, 2005.  Nomos Capital Plc is the
bank's special purpose vehicle domiciled in Ireland.


PROM-SEL-STROY-PROJECT: Under External Management Procedure
-----------------------------------------------------------
The Arbitration Court of Saratov Region has commenced external
management bankruptcy procedure on open joint stock company
Prom-Sel-Stroy-Project.  The case is docketed as A57-156B/05-32.

Ms. T. Yalynycheva has been appointed external insolvency
manager and can be reached at:

         Post User Box 2492
         410076, Saratov Region, Russia

The Debtor can be reached at:

         Prom-Sel-Stroy-Project
         Balashov, Lenina Str. 36
         412340, Saratov Region, Russia


VORONEZHSKIY FOUNDRY: Deadline for Proofs of Claim Set May 4
------------------------------------------------------------
Creditors of Voronezhskiy Foundry have until May 4, to submit
their proofs of claim to court-appointed insolvency manager Mr.
A. Zapryagaev at:

         Voroshilova Str. 35, Post User Box 36
         394055, Voronezh Region, Russia

The Arbitration Court of Voronezh Region commenced bankruptcy
proceedings against the limited liability company with the case
docketed as A14-15742-2005 153/20b.

The Debtor can be reached at:

         Voronezhskiy Foundry
         Solnechnaya Str. 31
         394026, Voronezh Region, Russia


YURGA-DREV: Declared Insolvent by Kemerovo Court
------------------------------------------------
The Arbitration Court of Kemerovo Region commenced bankruptcy
proceedings against Yurga-Drev after finding the close joint
stock company insolvent.  The case is docketed as A-27-
38797/2005-4.

Mr. A. Gusev has been appointed insolvency manager and can be
reached at:

         Yugra, Zvezdnaya Str. 46
         652050, Kemerovo Region, Russia

The Debtor can be reached at:

         Yurga-Drev
         Yugra, Leningradskaya Str. 1
         652050, Kemerovo Region, Russia


ZHDANOVSKIY WOOD-PROM-KHOZ: Claims Filing Period Ends May 11
------------------------------------------------------------
Creditors of Zhdanovskiy Wood-Prom-Khoz (TIN 3834001230) have
until May 11, to file their proofs of claim to court-appointed
insolvency manager Mr. A. Melnik at:

         Post User Box 41
         664011, Irkutsk-11, Russia

The Arbitration Court of Irkutsk Region commenced bankruptcy
proceedings against the open joint stock company with the case
docketed as A19-5113/04-38.

The Debtor can be reached at:

         Zhdanovskiy Wood-Prom-Khoz
         Nezhneilimskiy Region, Rudnogorsk
         665689, Irkutsk Region, Russia


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


BUDPROMKOMPLEKT: Court Names Yuliya Kolomatska Liquidator
---------------------------------------------------------
The Economic Court of Kyiv Region appointed Yuliya Kolomatska as
Liquidator/Insolvency Manager for Budpromkomplekt (code EDRPOU
33236199).  He can be reached at:

         Sherbakov Str. 56/7, Office 21
         Kyiv Region
         Ukraine

The Court commenced bankruptcy proceedings against the company
on Feb. 24, after finding it insolvent.  The case is docketed as
43/128.

The Economic Court of Kyiv Region is located at:

         B. Hmelnitskij Boulevard 44-B
         Kyiv Region
         01030 Ukraine

The Debtor is headquartered in:

         Shors Str. 29
         Kyiv Region
         01133 Ukraine


LIPOVETSKE: Court Names Sergij Gorbach to Liquidate Assets
----------------------------------------------------------
The Economic Court of Vinnitsya Region appointed Sergij Gorbach
as Liquidator/Insolvency Manager for Agricultural OJSC
Lipovetske (code EDRPOU 05413793).  He can be reached at:

         Ukrainka, a/b 45
         Kyiv Region
         08720 Ukraine

The Court commenced bankruptcy proceedings against the company
on Feb. 22, after finding it insolvent.  The case is docketed as
10/89-05.

The Economic Court of Vinnitsya Region is located at:

         Hmelnitske Shose 7
         Vinnitsya Region
         21036 Ukraine

The Debtor is headquartered in:

         Lipovetskij District, Lukashova
         Vinnitsya Region
         22534 Ukraine


LUNA: Court Opens Bankruptcy Proceedings
----------------------------------------
The Economic Court of Donetsk Region commenced bankruptcy
proceedings against LLC Luna (code EDRPOU 31366973) on Feb. 23,
after finding it insolvent.  The case is docketed as 5/18 B.

Sirivlya Ludmila has been appointed Liquidator/Insolvency
Manager and can be reached at:

         Gorkij Str. 158
         Donetsk Region
         83055 Ukraine

The Economic Court of Donetsk Region is located at:

         Artema Str. 157
         Donetsk Region
         83048 Ukraine

The Debtor is headquartered in:

         Miru Avenue 5/88
         Donetsk Region
         83050 Ukraine


NOVGORODKA' AGROPROMTEHNIKA: Court Begins Bankruptcy Process
------------------------------------------------------------
The Economic Court of Kirovograd Region commenced bankruptcy
proceedings against OJSC Novgorodka' Agropromtehnika on Feb. 22,
after finding it insolvent.  The case is docketed as 9/116.

Irina Knobloh has been appointed Liquidator/Insolvency Manager
and can be reached at:

         Timiryazev Str. 8
         Kirovograd Region
         Ukraine

The Economic Court of Kirovograd Region is located at:

         Lunacharski str. 29
         Kirovograd Region
         Ukraine

The Debtor is headquartered in:

         Novgorodka, Kirov Str. 39
         Kirovograd Region
         28200 Ukraine


RADEHIV' BREAD: Court Commences Bankruptcy Supervision
------------------------------------------------------
The Economic Court of Lviv Region commenced bankruptcy
supervision procedure on OJSC Radehiv' Bread Products Combine
(code EDRPOU 00954886) on Jan. 26.  The case is docketed as
6/11-8/27.

Purij Ruslan has been appointed temporary insolvency manager and
can be reached at:

         Lviv Region a/b 8110
         79066 Ukraine

The Economic Court of Lviv Region is located at:

         Lichakivska Str. 81
         Lviv Region
         79010 Ukraine

The Debtor is headquartered in:

         Radehiv, Vitkivska Str. 41
         Lviv Region
         80200 Ukraine


UKRAINIAN AGRO-INDUSTRIAL: Court Starts Bankruptcy Process
----------------------------------------------------------
The Economic Court of Zaporizhya Region commenced bankruptcy
supervision procedure on LLC Ukrainian Agro-Industrial Company
(code EDRPOU 25479104) on March 6.  The case is docketed as
19/31/06.

Mikita Nikitenko has been appointed temporary insolvency manager
and can be reached at:

         Zaporizhya Region
         69096 Ukraine

The Economic Court of Zaporizhya Region is located at:

         Shaumyana Str. 4
         Zaporizhya Region
         69001 Ukraine

The Debtor is headquartered in:

         Molodizhna Str. 33/3
         Orihiv District, Shaslive
         Zaporizhya Region
         70514 Ukraine


UROZHAJ: Cherkassy Court Starts Bankruptcy Supervision
------------------------------------------------------
The Economic Court of Cherkassy Region commenced bankruptcy
supervision procedure on Agricultural LLC Urozhaj (code EDRPOU
03791048) on Feb. 16.  The case is docketed as 01/4200.

Sergij Pshenichnij has been appointed temporary insolvency
manager and can be reached at:

         Vernigori Str. 16/6
         Cherkassy Region
         18000 Ukraine

The Economic Court of Cherkassy Region is located at:

         Shevchenko Avenue 307
         Cherkassy Region
         18005 Ukraine

The Debtor is headquartered in:

         Zhashkivskij District, Konela
         Cherkassy Region
         Ukraine


VILAN: Sisoyev Oleksij Appointed Temporary Insolvency Manager
---------------------------------------------------------------
The Economic Court of Sumi Region appointed Sisoyev Oleksij
temporary insolvency manager for LLC Vilan (code EDRPOU
30712683).  He can be reached at:

         Petropavlovska Str. 74, Room 49A
         Sumi Region
         Ukraine

The Court commenced bankruptcy supervision procedure on the
company on March 2.  The case is docketed as 12/13-06.

The Economic Court of Sumi Region is located at:

         Shevchenko Avenue 18/1
         Sumi Region
         40030 Ukraine

The Debtor is headquartered in:

         Romni, Uritskij Str. 43/8
         Sumi Region
         42000 Ukraine


YATRANIVSKE: Sergij Smilyanets Named Interim Insolvency Manager
---------------------------------------------------------------
The Economic Court of Cherkassy Region appointed Sergij
Smilyanets as temporary insolvency manager for Private
Agricultural Enterprise Yatranivske (code EDRPOU 03794472).  He
can be reached at:

         Uman, Uritskij Str. 68/44
         Cherkassy Region
         20300 Ukraine

The Court commenced bankruptcy supervision procedure on the
company on Dec. 6, 2005.  The case is docketed as 01/25.

The Economic Court of Cherkassy Region is located at:

         Shevchenko Avenue 307
         Cherkassy Region
         18005 Ukraine

The Debtor is headquartered in:

         Uman District, Yatranivka
         Ukraine, Cherkassy Region


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


AIZA LIMITED: Names Kroll Limited to Administer Assets
------------------------------------------------------
Joanne Wright and Adrian Wolstenholme of Kroll Limited were
appointed joint administrators of Aiza Limited (Company Number
04000487) on April 12.  Its registered office is at Unit 8, The
Oaks, Gilmorton Road, Lutterworth LE17 4DY.

Kroll Limited -- http://www.krollworldwide.com/-- offers risk-
consulting services worldwide.  The firm is an operating unit of
Marsh & McLennan Companies, Inc., the global professional
services firm.  Kroll's services include corporate advisory and
restructuring, financial accounting, valuation and litigation,
electronic evidence and data recovery, business intelligence and
investigations, background screening, and security services.

Aiza Limited -- http://www.aiza.ltd.uk/-- is one of UK's
leading print management companies supporting an enviable client
list of blue chip, corporate and public sector clients.


ARCHITEN LANDRELL: Hires Administrator from Moore Stephens
----------------------------------------------------------
Simon G. Paterson of Moore Stephens LLP was appointed
administrator of Architen Landrell Limited (Company Number
2698921) on April 12.

Moore Stephens -- http://www.moorestephens.co.uk-- offers
audit, business support, corporate finance, corporate recovery,
dispute analysis, financial services, insurance broking, IT
consultancy, pensions audit, risk advisory services, tax and
trusts & estates services.  Its UK network comprises over 1,400
partners and staff.

Architen Landrell -- http://www.architenlandrell.com/--  
designs, manufactures and maintains advanced lightweight
building systems.


C.B.A. ENTERPRISE: Taps Stoy Hayward to Administer Assets
---------------------------------------------------------
Dermot Justin Power and Matthew Dunham of BDO Stoy Hayward LLP
were appointed administrators of C.B.A. Enterprise Limited
(Company Number 02001626) on April 12.

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.

C B A Enterprise Ltd manufactures crisp and snack and can be
reached at:

         Sandfold Lane
         Manchester M19 3UU
         Tel: 0161-257-3322


CE- AIR LIMITED: Names Unity Corporate Recovery Administrator
-------------------------------------------------------------
Matthew Colin Bowker and Suzanne Payne of Unity Business
Services LLP were appointed administrators of Ce- Air Limited
(Company Number 00997072) on April 7.

The administrator can be reached at:

         Unity Corporate Recovery And Insolvency
         Clive House, Clive Street
         Bolton
         Lancashire BL1 1ET
         Tel: 01204 395000
         Fax: 01204 383999
         E-mail: matthewbowker@ubsg.co.uk

Ce- Air Limited offers general mechanical engineering services
and can be reached at:

         Mill Street
         Newton Moor Industrial Estate
         Hyde, Cheshire SK14 4LG
         Tel: 0161 3681476


COMBINED PLANT: Names Tenon Recovery Administrator
--------------------------------------------------
Andrew Pear and Steve Parker of Tenon Recovery were appointed
joint administrators of Combined Plant Services Limited (Company
Number 3379246) on April 5.

Tenon Recovery -- http://www.tenongroup.com/-- provides
accounting and business advice to owner-managed and private
business.

The company can be reached at:

         Unit 11/Sandford Lane Industrial Estate
         Sandford Lane, Wareham
         Dorset BH20 4DY
         Tel: 01929 551133
         Fax: 01929 55358


CONWAY KITCHENS: Hires Filippa Connor as Administrator
------------------------------------------------------
Filippa Connor of B & C Associates was appointed administrator
of Conway Kitchens Limited (Company Number 05065059) on
April 11.

The administrator can be reached at:

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

Headquartered in Wigan, Conway Kitchens Limited --
http://www.conwaykitchens.com/-- offers comprehensive kitchen
plan and design.


CRADLEY PRINT: Taps Joint Administrators from PKF
-------------------------------------------------
Ian J. Gould and Edward T. Kerr of PKF LLP were appointed joint
administrators of Cradley Print Limited (Company Number 2353791)
on April 13.

PKF (UK) LLP -- http://www.pkf.co.uk-- is one of the UK's
leading firms of accountants and business advisers, which
specializes in advising the management of developing private and
public businesses.  Its principal services include assurance &
advisory; corporate finance; corporate recovery & insolvency;
forensic; management consultancy and taxation.  It also offers
financial services through its FSA authorized company, PKF
Financial Planning Limited.

Cradley Print Limited -- http://cradleygp.demonweb.co.uk/--  
prints journals and periodicals.


HILL MASON: Appoints S. F. Plant & Co. Administrator
----------------------------------------------------
Simon Franklin Plant and Daniel Plant of S. F. Plant & Co. were
appointed joint administrators of Hill Mason Signs Limited
(Company Number 02895996) on April 12.

The joint administrators can be reached at:

         S. F. Plant & Co.
         9 Ensign House, Admirals Way
         Marsh Wall, London E14 9XQ

Headquartered in Surrey, Hill Mason Signs Limited --
http://www.hmsigns.com/-- is a long established sign
manufacturers with over 65 years industry experience.


MAYFAIR CELLARS: Hires Grant Thornton to Administer Assets
----------------------------------------------------------
Simon Charles Morris and Andrew Lawrence Hosking of Grant
Thornton UK LLP were appointed joint administrators of Mayfair
Cellars Limited (Company Number 02933082) on April 12.

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.

Mayfair Cellars Ltd sells alcoholic drinks and can be reached
at:

         203 Seagrave Road
         London SW6 1ST
         Tel: 02073298899


MKN CONTRACTORS: Appoints Menzies Corporate Administrator
---------------------------------------------------------
Jason James Godefroy and Andrew Gordon Stoneman of Menzies
Corporate Restructuring were appointed joint administrators of
MKN Contractors Limited (Company Number 04362892) on April 10.

Headquartered in London, Menzies Corporate Restructuring --
http://www.menzies.co.uk/-- is a member of Moores Rowland
International, an association of independent accounting firms
throughout the world with some 20,800 partners and staff,
operating from 628 offices in 92 countries.  MRI, which is
ranked 8th amongst the leading international accounting
associations, achieved global revenues of US$1,800 million in
2003.


NAIL CONCEPTS: Creditors Decide to Liquidate Assets
---------------------------------------------------
Nail Concepts UK Limited is winding up its operations after
creditors decided to liquidate the company's assets on March 8.

Eileen T. F. Sale was appointed Liquidator.

The company can be contacted at:

         Nail Concepts Limited
         Unit 13
         Monmore Road
         Wolverhampton West Midlands
         WV1 2TZ
         Tel: 01902 354 112
         Fax: 01902 354 113
         Web: http://www.nailconcepts.co.uk/


NAJMA TELECOM: Creditors Confirm Voluntary Liquidation
------------------------------------------------------
Creditors of Najma Telecom Limited confirmed the company's
voluntary liquidation after members passed a resolution to wind
up the company's assets on March 7.

Creditors also ratified the appointment of David Wald as
Liquidator.

The company can be reached at:

         Najma Telecom Limited
         48A High Road
         London
         NW10 2QA
         Tel: 020 8830 0144


PLANART LIMITED: Claims Registration Ends May 5
-----------------------------------------------
Jason James Godefroy and Paul John Clark, of Menzies Corporate
Restructuring, were appointed Joint Liquidators of Planart
(Reproduction) Limited after creditors decided to wind up the
company's operations on March 8.

Creditors have until May 5, to send in their full names,
addresses and descriptions, full particulars of debts or claims,
and the names and addresses of Solicitors (if any) to appointed
Joint Liquidator Jason James Godefroy.

The company can be reached at:

         Planart (Reproduction) Limited
         9 Morocco Street
         London
         SE1 3HB
         Tel: 020 7407 5811
         Fax: 020 7403 0990


SMS SERVICES: Hires Joint Liquidators from Milner Boardman
----------------------------------------------------------
Colin Burke and Gary Corbett, of Milner Boardman & Partners,
will jointly liquidate SMS Services Limited's assets after
creditors passed a resolution to wind up the company on March 8.

Director M. Minns disclosed that the company could no longer
continue its business due to financial liabilities.

The company can be reached at:

         SMS Services Limited
         Netherlands Way
         Stallingborough Grimsby South Humberside
         DN41 8DF
         Tel: 01469 575 603
         Fax: 01469 577 710
         Web: http://www.smsservicesuk.com/


SENTRY GUARD: Creditors Agree to Voluntary Liquidation
------------------------------------------------------
Sentry Guard Limited is voluntarily liquidating its assets after
creditors agreed to wind up the company's operations during an
extraordinary general meeting of members on March 7.

Ian D. Holland was appointed Liquidator.

The company can be contacted at:

         Sentry Guard Limited
         147 Roundwood Road
         London
         NW10 9UL
         Tel: 020 8205 8333
         Fax: 020 8451 8866


SOLENT SEAMLESS: Creditors Pass Winding Up Resolution
-----------------------------------------------------
Creditors of Solent Seamless Guttering (UK) Limited passed a
resolution to wind up the company's operations during an
extraordinary general meeting on March 9.

Peter Robin Bacon and Carl Derek Faulds, of Portland Business &
Financial Solutions Ltd, were appointed Joint Liquidators.

The company can be contacted at:

         Solent Seamless Guttering (UK) Limited
         3 Ackworth Road
         Shawcross Industrial Park
         Portsmouth Hampshire
         PO3 5JP
         Tel: 023 9266 9314
         Fax: 023 9269 1917


TOUCAN SCREENPRINT: Financial Woes Trigger Liquidation
------------------------------------------------------
Toucan Screenprint Limited is winding up its business after
creditors found out that the company could no longer continue
its business due to mounting debts.

Subsequently, they appointed David Anthony Horner as Liquidator.

The company can be reached at:

         Toucan Screenprint Limited
         Wakefield Commercial Park
         Horbury Bridge Wakefield West Yorkshire
         WF4 5NW
         Tel: 01924 277 272
         Fax: 01924 281 364


ULTIMA WINDOW: Names Alan Tomlinson to Liquidate Assets
-------------------------------------------------------
Alan H. Tomlinson, of Tomlinsons, was appointed Liquidator of
Ultima Window Systems Limited after creditors passed a
resolution to wind up the company's operations on Feb. 27.

Company Chairman N. L. Power disclosed that the company could no
longer continue its operations due to mounting debts.

The company can be reached at:

         Ultima Window Systems Limited
         68 High Street
         Tarporley Cheshire
         CW6 0AT
         Tel: 01244 548 747


UNITED SECURITY: Liquidates Assets & Appoints Liquidator
--------------------------------------------------------
United Security Limited is liquidating its assets after
creditors decided to wind up the company's operations on
March 7.

Philip Barrington Wood was appointed Liquidator.

The voluntary liquidation came as a result of the Debtor's
inability to continue its business due to its liabilities.

The company can be contacted at:

         United Security Limited
         443A King Street
         Stoke-On-Trent
         ST4 3EE
         Tel: 01782 333 334


W. EVERARD: Claims Filing Period Ends April 30
----------------------------------------------
Creditors of W. Everard & Son Limited have until April 30, to
send in their full names, addresses and descriptions, full
particulars of debts or claims, and the names and addresses of
Solicitors (if any) to appointed Joint Liquidators W. John Kelly
and Timothy S. Cockcroft.

The company can be contacted at:

         W. Everard & Son Limited
         34 Main Street
         North Kyme Lincoln
         LN4 4DF
         Fax: 01526 861 666


                           *********


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
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Information contained herein is obtained from sources believed
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