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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

            Tuesday, August 29, 2006, Vol. 7, No. 171     

                            Headlines


A U S T R I A

AMRO PERSONAL: Steyr Court Orders Business Shutdown
BETONWERK HIRM: Creditors' Meeting Slated for September 11
BIODIESEL RAFFINERIE: Creditors' Meeting Slated for August 31
DIREKT STAHLWARENVERTRIEB: Creditors' Meeting Set for Sept. 7
F. U. I. STRAUSS: Creditors' Meeting Slated for September 12

FINANZPLANUNG: Creditors' Meeting Slated for September 4
GALILEO: Creditors' Meeting Slated for September 6
HABLE: Claims Registration Period Ends August 30
IVAN GULA: Property Manager Claims Insufficient Assets
KARL ZIZKOVSKY: Vienna Court Orders Closing of Business

KHALED MOHAMED: Vienna Court Orders Closing of Business
SLAVICA: Vienna Court Approves Property Manager's Decision


E S T O N I A

GALVEX HOLDINGS: Wants Chapter 11 Cases Dismissed or Converted


F I N L A N D

RADNOR HOLDINGS: Organizational Meeting Scheduled Tomorrow


F R A N C E

REXEL GROUP: Completes GE Supply Acquisition for US$725 Million


G E R M A N Y

CUSTODIS GERUESTBAU: Claims Registration Ends September 18
DRE-KO KORROSIONSSCHUTZ: Claims Registration Ends September 18
FASHION SPORT: Claims Registration Ends September 15
INVESTUS AKTIENGESELLSCHAFT: Creditors' Meeting Set for Sept. 15
KAMINBAU-BEHRENDS: Claims Registration Ends September 13

PROTEC WERKZEUG: Creditors' Meeting Slated for September 20
PSA INTEGRATIONS: Creditors' Meeting Slated for August 31
REINSDORFER FLEISCHKONSERVEN: Claims Registration Ends Sept. 12
SKS GRUNDSTUECKSVERWALTUNGS: Claims Registration Ends Sept. 12
VOLKSWAGEN AG: Mexican Employees Agree to Improved Wage Offer

WOLRATH . WILDERMUTH: Claims Registration Ends September 12


I R E L A N D

TOWER RECORDS: Organizational Meeting Set at 10:00 a.m. Today


K A Z A K H S T A N

ALEKSEEVKAAGROSTROIMONTAJ: Creditors' Claims Due Sept. 26
ASTANA BUSINESS: Creditors Must File Claims by Oct. 27
ATYRAU TRUKS: Creditors Must File Claims by Sept. 27
BISSANEL: Creditors Must File Claims by Sept. 27
DOSTYK PLASTIK: Claims Registration Ends Sept. 22

KADEES: Claims Registration Ends Sept. 28
KAZVESTFRAHT: Aktobe Court Begins Bankruptcy Proceedings
RSM: Proof of Claim Deadline Slated for Sept. 28
TABOLA: Proof of Claim Deadline Slated for Sept. 26


K Y R G Y Z S T A N

AEMA LTD: Proof of Claim Deadline Slated for Sept. 29
KYRGYZAGROPROMBANK: Public Auction Scheduled for Sept. 1


N E T H E R L A N D S

PYATEROCHKA HOLDING: Merger Prompts Moody's to Cut Rating to B1


R U S S I A

ARISTEY: Court Names A. Nesterov as Insolvency Manager
ASTAKHANSKAYA JEWELRY: B. Shurshev to Manage Insolvency Assets
BORSKOYE ENTERPRISE: N. Pomelov to Manage Insolvency Assets
BUILDER OF KONYSHEVSKIY: M. Shumakov to Manage Assets
INFORMATION SYSTEMS: Mr. P. Alekseev as Insolvency Manager

INTERNATIONAL EUROPEAN: N. Biryukova to Manage Asssets
KUNESHMA-PROM-GRAIN: Court Names E. Belkov as Insolvency Manager
PSKOV-BRICK: Pskov Court Starts Bankruptcy Supervision
PUGACHEV-MILK: Court Names I. Nesterov as Insolvency Manager
RYB-TEKHNO-KHOLOD: Court Names A. Dyagilev as Insolvency Manager

SALYM-OIL-SERVICE: Court Starts Bankruptcy Supervision
SARATOVSKAYA INDUSTRIAL: External Management Procedure Starts
SERGACHSKAYA FURNITURE: Y. Shishkov to Manage Insolvency Assets
SIB-GAS-PRIBOR: Tyumen Court Starts Bankruptcy Supervision
SIVINSKIY DIARY: Perm Court Starts Bankruptcy Supervision
SLAVGORODSKAYA BREWERY: G. Voinov to Manage Insolvency Assets

STROY-DETAIL: Court Names P. Volkov as Insolvency Manager
STROY-INVEST: Omsk Court Names S. Vinnik as Insolvency Manager
TULA-FURNITURE-3: G. Vershinina to Manage Insolvency Assets
WOOD-PROCESSING COMPLEX: T. Deloverov to Manage Assets
YARKSIY FLAX: Court Names A. Shadrin as Insolvency Manager


U K R A I N E

AGROSINTEZ-HOLDING: Oleksandr Mantsurov to Liquidate Assets
INKOMINVEST: Court Names State Enterprise Center as Liquidator
LATGAL: Lviv Court Starts Bankruptcy Supervision Procedure
ROSINKA: Harkiv Court Names N. Zhuk as Insolvency Manager
SINTEZ: Kyiv Court Names N. Kovalenko as Insolvency Manager

SMILA' ELECTRO-MECHANICAL: Valentina Benitska to Manage Assets
STATE EXPORT-IMPORT: Fitch Rates US$300 Mln Eurobond at BB-
STATUS: Lugansk Court Names S. Ptushko as Insolvency Manager
UKREXIMBANK: Moody's Rates Loan Participation Notes at Ba2


U N I T E D   K I N G D O M

A 2 Z PLUMBING: Creditors Confirm Liquidators' Appointment
ACUMA CAPITAL: Hires Begbies Traynor to Administer Assets
ALAN YORKE: Names T. Papanicola as Administrator
AMANDA LACEY: Brings In Harris Lipman as Administrators
ANDROMEDA JEWELLERY: Appoints Liquidator from Rogers Evans

ATLANTIC GOLF: Taps Phillip Anthony Roberts to Liquidate Assets
AUDOS LIMITED: Taps Gagen Dulari to Administer Assets
AUTOWISE MOTORIST: Hires Liquidator from Citroen Wells
B & D HOLT: Creditors Ratify Liquidator's Appointment
BETTER HEALTHCARE: Hires Tenon Recovery as Joint Administrators
BINTEC TRANSPORT: Taps Liquidator from Begbies Traynor

BLACK DIAMOND: Brings In Joint Liquidators from Begbies Traynor
CHERWELL CONSERVATORIES: Creditors' Meeting Slated for Sept. 1
CLANCEY HOLDINGS: Taps Joint Administrators from KPMG
COLLINS & AIKMAN: Posts US$44MM Net Loss in Period Ended July 29
COLT TELECOM: Posts EUR29 Million Net Loss in First Half of 2006

COLT TELECOM: Confirms Redemption of 7.625% Senior Notes
CONNECT 360: Brings In Administrators from Herron Fisher
CONNOLLY ASBESTOS: David Acland Leads Liquidation Procedure
DAFFODIL HOLDINGS: Appoints Administrators from Ernst & Young
DEEMAC TRAINING: Claims Filing Period Ends Aug. 31

DISPLAYLAND LIMITED: Appoints Liquidator from Debtmatters Ltd.
DJ HEWER: Names David N. Hughes as Administrator
DK GAS: Calls In Liquidator from Langley Group LLP
ELEPHANT PACKAGING: Names Richard Ian Williamson Liquidator
FLOWER CELLAR: Taps Sharma & Co. as Administrator

FORD MOTOR: Eyes Sale of Luxury Auto Brands to Investment Group
G. CLANCEY: Appoints KPMG as Joint Administrators
GAGNON THERAPIES: Names Liquidator from Ashcrofts
GARDEN HOUSE: Hires Aileen Janes Crooks to Liquidate Assets
GENEMEDIX PLC: May 31 Balance Sheet Upside-Down by GBP1.8 Mln

GENTEK INC: Posts Second Quarter 2006 Financial Results
GLASS MERCHANTS: Names Tony Mitchell as Administrator
HAWKSHEAD RETAIL: Brings In Ernst & Young to Administer Assets
HCB ENERGY: Creditors' Claims Due Oct. 31
HELICENTRE LIMITED: Names Liquidator from Campbell Crossley

HERBALIFE LTD: Completes Redemption of US$165-Mln 9-1/2% Notes
HICKING PENTECOST: Claims Registration Ends Sept. 29
HOPATH CARPENTERS: Appoints Administrators from Grant Thornton
HYDE PARK: Taps Begbies Traynor as Joint Administrators
LEISURE MIDLANDS: Appoints Administrator from Irwin & Co.

JEWELLERY TRADE: Brings In David Field to Liquidate Assets
KRONOS INT'L: Declares US$0.25 Per Share Quarterly Dividend
LONG TERM: Creditors' Meeting Slated for September 13
M.J. TRAILERS: Creditors Confirm Voluntary Liquidation
MIDNIGHT FASHIONS: Calls In Liquidator from Mazars LLP

MOLGROVE CONSTRUCTION: Taps Alan Bradstock to Liquidate Assets
NORTHAMPTONSHIRE AUCTIONS: Hires Joint Liquidators from BRI
OFFICE SUPPLIES: Taps DSM Edwards to Liquidate Assets
OPASCO LIMITED: Appoints Joint Administrators from SFP
GENTEK INC: Posts Second Quarter 2006 Financial Results

PRAMIS WORLDWIDE: Gary Stones Leads Liquidation Procedure
PREMIER PATIOS: Joint Liquidators Take Over Operations
RABBITS OF LONDON: Appoints Salman Saud as Liquidator
RANK GROUP: Disposes Clermont Club for GBP31 Million in Cash
REFCO INC: Chapter 7 Trustee Gets Nod to Wind Down Refco Trading

REFCO INC: Ch. 7 Trustee Wants Court OK on Document Sharing Pact
REPLAY MUSIC: Names Graham Lindsay Down to Liquidate Assets
S & S DUCTWORKS: Hires Richard John Elwell to Liquidate Assets
SJS DEVELOPMENTS: Appoints Joint Liquidators to Wind Up Business
SPECIAL MOMENTS: Nominates Gary Stones as Liquidator

TGR RESOURCES: Brings In Liquidator from Tenon Recovery
WHISTON CARPETS: Nominates Liquidator from T H Associates
WYLEY ROAD: Brings In Begbies Traynor as Administrators

* Large Companies with Insolvent Balance Sheets


                            *********

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


AMRO PERSONAL: Steyr Court Orders Business Shutdown
---------------------------------------------------
The Land Court of Steyr entered an order on July 3 shutting down
the business of LLC Amro Personal- und Geratemanagement (FN
167007z).  Court-appointed property manager Guenther Grassner
determined that the continuing operation of the business would
reduce the value of the estate.

The property manager can be reached at:

         Dr. Guenther Grassner
         Suedtirolerstrasse 4-6
         4020 Linz, Austria
         Tel: 0732/77 08 15
         Fax: 770816
         E-mail: lawfirm@gltp.at  

Headquartered in Traunkreis, Austria, the Debtor declared
bankruptcy on April 6 (Bankr. Case No. 14 S 20/06y).  Norbert
Mooseder represents the Dr. Grassner in the bankruptcy
proceedings.

The representative of the property manager can be reached at:

         Dr. Norbert Mooseder
         Stelzhamerstrasse 1
         4400 Steyr, Austria
         Tel: 07252/42 4 24
         E-mail: lawfirm@gltp.at   


BETONWERK HIRM: Creditors' Meeting Slated for September 11
----------------------------------------------------------
Creditors owed money by LLC Betonwerk Hirm (FN 125751d) are
encouraged to attend the creditors' meeting at 10:50 on Sept. 11
to consider the adoption of the rule by revision and
accountability.

The creditors' meeting will be held at:

         The Land Court of Eisenstadt
         Hall F
         Eisenstadt, Austria

Headquartered in Burgenland, Austria, the Debtor declared
bankruptcy on July 6 (Bankr. Case No. 26 S 66/06t).  Michael
Neuhauser serves as the court-appointed property manager of the
bankrupt estate.

The property manager can be reached at:

         Mag. Michael Neuhauser
         Fanny Elssler-Gasse 4
         7000 Eisenstadt, Austria
         Tel: 02682/61394
         Fax: 02682/68339
         E-mail: officewien@aaa-law.at


BIODIESEL RAFFINERIE: Creditors' Meeting Slated for August 31
-------------------------------------------------------------
Creditors owed money by LLC Biodiesel Raffinerie Produktions (FN
242240k) are encouraged to attend the creditors' meeting at
10:00 a.m. on Aug. 31 to consider the adoption of the rule by
revision and accountability.

The creditors' meeting will be held at:

         The Trade Court of Vienna
         Room 1703
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 6 (Bankr. Case No. 5 S 96/06m).  Karl F. Engelhart
serves as the court-appointed property manager of the bankrupt
estate.  Thomas Engelhart represents Dr. Engelhart in the
bankruptcy proceedings.

The property manager and his representative can be reached at:

         Dr. Karl F. Engelhart
         c/o Dr. Thomas Engelhart
         Esteplatz 4
         1030 Vienna, Austria
         Tel: 712 33 30-0
         Fax: 712 33 30-30
         E-mail: engelhart@csg.at


DIREKT STAHLWARENVERTRIEB: Creditors' Meeting Set for Sept. 7
-------------------------------------------------------------
Creditors owed money by LLC Direkt Stahlwarenvertrieb (FN
268825g) are encouraged to attend the creditors' meeting at
10:15 on Sept. 7 to consider the adoption of the rule by
revision and accountability.

The creditors' meeting will be held at:

         The Trade Court of Vienna
         Room 1703
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 13 (Bankr. Case No. 5 S 101/06x).  Johannes Jaksch
serves as the court-appointed property manager of the bankrupt
estate.  Alexander Schoeller represents Dr. Jaksch in the
bankruptcy proceedings.

The property manager and his representative can be reached at:

         Dr. Johannes Jaksch
         c/o Dr. Alexander Schoeller
         Reischachstrasse 3/12 A
         1010 Vienna, Austria
         Tel: 713 44 33
         Fax: 713 10 33
         E-mail: kanzlei@jsr.at


F. U. I. STRAUSS: Creditors' Meeting Slated for September 12
------------------------------------------------------------
Creditors owed money by LLC F. U. I. Strauss & Co KG (FN 17570p)
are encouraged to attend the creditors' meeting at 9:40 a.m. on
Sept. 12 to consider the adoption of the rule by revision and
accountability.

The creditors' meeting will be held at:

         The Land Court of St. Poelten
         Room 216
         2nd Floor
         Old Building
         St. Poelten, Austria

Headquartered in Grafendorf, Austria, the Debtor declared
bankruptcy on July 13 (Bankr. Case No. 14 S 111/06y).  Anton
Hintermeier serves as the court-appointed property manager of
the bankrupt estate.

The property manager can be reached at:

         Dr. Anton Hintermeier
         Andreas Hofer-Strasse 8
         3100 St. Poelten, Austria
         Tel: 02742/847
         Fax: 02742/847-50
         E-mail: stpoelten@lhup.at


FINANZPLANUNG: Creditors' Meeting Slated for September 4
--------------------------------------------------------
Creditors owed money by LLC Finanzplanung (FN 167401d) are
encouraged to attend the creditors' meeting at 10:45 a.m. on
Sept. 4 to consider the adoption of the rule by revision.

The creditors' meeting will be held at:

         The Land Court of Innsbruck
         Conference Hall 212
         2nd Floor
         New Building
         Maximilianstrasse 4
         6020 Innsbruck, Austria         

Headquartered in Innsbruck, Austria, the Debtor declared
bankruptcy on July 6 (Bankr. Case No. 19 S 69/06d).  Christian
J. Winder serves as the court-appointed property manager of the
bankrupt estate.

The property manager can be reached at:

         Dr. Christian J. Winder
         Anichstrasse 1/II
         6020 Innsbruck, Austria
         Tel: 0512/576369
         Fax: 0512/566082
         E-mail: cjwinder@tirol.com


GALILEO: Creditors' Meeting Slated for September 6
--------------------------------------------------
Creditors owed money by LLC Galileo (FN 235183h) are encouraged
to attend the creditors' meeting at 9:00 a.m. on Sept. 6 to
consider the adoption of the rule by revision and
accountability.

The creditors' meeting will be held at:

         The Trade Court of Vienna
         Room 1606
         Vienna, Austria

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on July 6 (Bankr. Case No. 4 S 110/06p).  Hannelore Pitzal
serves as the court-appointed property manager of the bankrupt
estate.  Wolfgang Pitzal represents Dr. Pitzal in the bankruptcy
proceedings.

The property manager and her representative can be reached at:

         Dr. Hannelore Pitzal
         c/o Dr. Wolfgang Pitzal
         Paulanergasse 9
         1040 Vienna, Austria
         Tel: 587 31 11
         Fax: 587 87 50 50
         E-mail: office@heller-pitzal.at   


HABLE: Claims Registration Period Ends August 30
------------------------------------------------
Creditors owed money by KEG Hable (FN 264193w) have until
Aug. 30 to file written proofs of claims to court-appointed
property manager Viktor Igali-Igalffy at:

         Dr. Viktor Igali-Igalffy
         Landstrasser Main Street 34
         1030 Vienna, Austria
         Tel: 01/713 80 57
         Fax: 01/713 07 76
         E-mail: vii@aon.at  

Creditors and other interested parties are encouraged to attend
the creditors' meeting at 9:00 a.m. on Sept. 13 to consider the
adoption of the rule by revision and accountability.

The meeting of creditors will be held at:

         The Land Court of Korneuburg
         Room 204
         2nd Floor
         Korneuburg, Austria

Headquartered in Gramatneusiedl, Austria the Debtor declared
bankruptcy on July 13 (Bankr. Case No. 36 S 77/06z).  


IVAN GULA: Property Manager Claims Insufficient Assets
------------------------------------------------------
Dr. Martina Simlinger-Haas, the court-appointed property manager
for KEG Ivan Gula (FN 258313y), declared on July 5 that the
Debtor's property is insufficient to cover creditors' claim.

The Trade Court of Vienna is yet to rule on the property
manager's claim.

Headquartered in Vienna, the Debtor declared bankruptcy on
May 12 (Bankr. Case No. 4 S 78/06g).  

The property manager can be reached at:

         Dr. Martina Simlinger-Haas
         Reisnerstrasse 31
         1030 Vienna, Austria
         Tel: 713 99 46
         Fax: 713 99 46 22
         E-mail: ra.reisnerstr.3@aon.at


KARL ZIZKOVSKY: Vienna Court Orders Closing of Business
-------------------------------------------------------
The Trade Court of Vienna entered an order on July 5 closing the
business of LLC Karl Zizkovsky (FN 33328m).  Court-appointed
property manager Johanna Abel-Winkler determined that the
continuing operation of the business would reduce the value of
the estate.

The property manager and her representative can be reached at:

         Mag. Johanna Abel-Winkler
         c/o Mag. Norbert Abel
         Franz-Josefs-Kai 49/19
         1010 Vienna, Austria
         Tel: 533 52 72
         Fax: 533 52 72 15
         E-mail: office@abel-abel.at  

Headquartered in Vienna, Austria, the Debtor declared bankruptcy
on June 27  (Bankr. Case No. 5 S 89/06g).  Norbert Abel
represents Mag Abel-Winkler in the bankruptcy proceedings.


KHALED MOHAMED: Vienna Court Orders Closing of Business
-------------------------------------------------------
The Trade Court of Vienna entered an order on July 3 closing the
business of LLC Khaled Mohamed (FN 50949a).  Court-appointed
property manager Annemarie Kosesnik-Wehrle determined that the
continuing operation of the business would reduce the value of
the estate.

The property manager and her representative can be reached at:

         Dr. Annemarie Kosesnik-Wehrle
         c/o Dr. Stefan Langer
         Oelzeltgasse 4
         1030 Vienna, Austria
         Tel: 713 61 92
         Fax: 713 61 92 22
         E-mail: kanzlei@kosesnik-langer.at  

Headquartered in Vienna, Austria the Debtor declared bankruptcy
on May 2 (Bankr. Case No. 45 S 25/06i).  Stefan Langer
represents Dr. Kosesnik-Wehrle in the bankruptcy proceedings.


SLAVICA: Vienna Court Approves Property Manager's Decision
----------------------------------------------------------
The Trade Court of Vienna declared on July 3 that it would
approve court-appointed property manager Dr. Erwin Senoner's
decision for KEG Slavica Miladinovic (FN 207342s).

The property manager and his representative can be reached at:

         Dr. Erwin Senoner
         c/o Dr. Georg Freimueller
         Alser Road 21
         1080 Vienna, Austria
         Tel: 406 05 51
         Fax: 406 96 01
         E-mail: kanzlei@jus.at   

Headquartered in Vienna, the Debtor declared bankruptcy on
Nov. 9, 2005 (Bankr. Case No. 3 S 114/05t).  Georg Freimueller
represents Dr. Senoner in the bankruptcy proceedings.


=============
E S T O N I A
=============


GALVEX HOLDINGS: Wants Chapter 11 Cases Dismissed or Converted
--------------------------------------------------------------
Galvex Holdings Limited asks the U.S. Bankruptcy Court for the
Southern District of New York to dismiss its chapter 11 case or,
in the alternative, convert its case to a chapter 7 liquidation
proceeding.

Lori R. Fife, Esq., at Weil, Gotshal & Manges, LLP, relates that
Galvex is "hopelessly" insolvent, has no assets remaining to
reorganize or sell, and has no ability to file and confirm a
plan of liquidation or pay any administrative expenses.

As reported in the Troubled Company Reporter on May 30, 2006,
the Court authorized Galvex and its debtor-affiliates to sell
substantially all of their assets to SPCP Group LLC.  The
purchase was effected in exchange for the discharge of the
Debtors' US$192 million debt to SPCP.  SPCP acquired the shares
of Galvex's subsidiaries:

           -- Galvex Estonia;
           -- Galvex Intertrade; and
           -- Galvex Trade.

In accordance with the sale order, the Court further ruled that
the Chapter 11 cases of the three debtor-subsidiaries will be
dismissed effective upon the closing of the sale.

The Official Committee of Unsecured Creditors supports Galvex's
request only to the extent that the Motion seeks conversion of
the Debtor's case to a case under chapter 7 of the Bankruptcy
Code.

                     About Galvex Holdings

Headquartered in New York City, New York, Galvex Holdings
Limited -- http://www.galvex.com/-- and its affiliates operate  
the largest independent galvanizing line in Europe.  The Debtors
have offices in New York, Tallinn, Bermuda, Finland, Ukraine,
Germany and the United Kingdom.  The company and four of its
affiliates filed for chapter 11 protection on Jan. 17, 2006
(Bankr. S.D.N.Y. Lead Case No. 06-10082).  Galvex Capital, LLC,
is represented by David Neier, Esq., at Winston & Strawn LLP,
and Gerard DiConza, Esq., at DiConza Law, P.C.  Galvex Holdings
Ltd. and the other debtor-affiliates are represented by David
Neier, Esq., at Winston & Strawn LLP, and Lori R. Fife, Esq.,
Marcia L. Goldstein, Esq., and Shai Waisman, Esq., at Weil,
Gotshal & Manges, LLP.  John P. McNicholas, Esq., and Thomas R.
Califano, Esq., at DLA Piper Rudnick Gray Cary US LLP, represent
the Official Committee of Unsecured Creditors.  When the Debtors
filed for protection from their creditors, they estimated assets
and debts of more than US$100 million.


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F I N L A N D
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RADNOR HOLDINGS: Organizational Meeting Scheduled Tomorrow
----------------------------------------------------------
The U.S. Trustee for Region 3 will hold an organizational
meeting to appoint an official committee of unsecured creditors
in Radnor Holdings Corporation and its debtor-affiliates'
chapter 11 cases at 10:00 a.m., on Aug. 30, 2006, at Room 5209,
J. Caleb Boggs Federal Building, 844 King Street in Wilmington,
Delaware.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.  The
meeting is not the meeting of creditors pursuant to Section 341
of the Bankruptcy Code.  However, a representative of the
Debtors will attend and provide background information regarding
the cases.

Creditors interested in serving on a Committee should complete
and return to the U.S. Trustee a statement indicating their
willingness to serve on an official committee.

Official creditors' committees, constituted under Section 1102
of the Bankruptcy Code, ordinarily consist of the seven largest
creditors who are willing to serve on a committee.  In some
Chapter 11 cases, the U.S. Trustee is persuaded to appoint
multiple creditors' committees.

Official creditors' committees have the right to employ legal
and accounting professionals and financial advisors, at the
Debtors' expense.  They may investigate the Debtors' business
and financial affairs.  Importantly, official committees serve
as fiduciaries to the general population of creditors they
represent.  Those committees will also attempt to negotiate the
terms of a consensual Chapter 11 plan -- almost always subject
to the terms of strict confidentiality agreements with the
Debtors and other core parties-in-interest.  If negotiations
break down, the Committee may ask the Bankruptcy Court to
replace management with an independent trustee.  If the
Committee concludes that the reorganization of the Debtors is
impossible, the Committee will urge the Bankruptcy Court to
convert the Chapter 11 cases to a liquidation proceeding.

Headquartered in Radnor, Pennsylvania, Radnor Holdings
Corporation -- http://www.radnorholdings.com/-- manufactures  
and distributes a broad line of disposable food service products
in the United States, and specialty chemicals worldwide.  The
Debtor and its affiliates filed for chapter 11 protection on
Aug. 21, 2006 (Bankr. D. Del. Case No. 06-10894).  Gregg M.
Galardi, Esq., and Mark L. Desgrosseilliers, Esq., at Skadden,
Arps, Slate, Meagher, represent the Debtors.  When the Debtors
filed for protection from their creditors, they listed total
assets of US$361,454,000 and total debts of US$325,300,000.


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F R A N C E
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REXEL GROUP: Completes GE Supply Acquisition for US$725 Million
---------------------------------------------------------------
The Rexel Group has completed its acquisition of GE Supply, the
electrical distribution business of GE Consumer & Industrial, a
business unit of General Electric (NYSE:GE).  The announcement
follows the one of a purchase agreement signed on July 10.

The total consideration for the transaction, valued at US$725
million, was financed through specific loans underwritten by
JPMorgan and Calyon.  JPMorgan also acted as exclusive financial
advisor to Rexel in connection with the transaction.  The
consent of Rexel's Senior Lenders was obtained on July 24, 2006.

Headquartered in Paris, Rexel SA -- http://www.rexel.com/--  
distributes more than one million kinds of electrical parts and
supplies, including wiring devices, cabling systems, circuit
protectors, lighting products, automation equipment, hand tools,
climate control equipment, and electronic security components.

                        *     *     *

As reported in TCR-Europe on July 13, Moody's affirmed the B2
corporate family rating of Ray Acquisition SCA, the holding
company for Rexel SA.  The outlook has been revised to stable
from positive.

Ratings affirmed:

Ray Acquisition SCA

   -- Corporate Family Rating: B2

   -- EUR600 million 9.375% Senior Subordinated Notes due 2015:
      Caa1

Rexel S.A.

   -- Existing EUR1.5 Billion Senior Credit Facilities: B2


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G E R M A N Y
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CUSTODIS GERUESTBAU: Claims Registration Ends September 18
----------------------------------------------------------
Creditors of Custodis Geruestbau GmbH have until Sept. 18 to
register their claims with court-appointed provisional
administrator Ruediger Werres.

Creditors and other interested parties are encouraged to attend
the meeting at 9:55 a.m. on Oct. 18 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 Cologne
         Meeting Room 142
         1st Floor
         Luxemburger Road 101
         50939 Cologne, 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 Cologne opened bankruptcy proceedings
against Custodis Geruestbau GmbH on Aug. 4.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Custodis Geruestbau GmbH
         Attn: Michael Rudolf Custodis, Manager
         Venloer Str. 668
         50827 Cologne, Germany

The administrator can be contacted at:

         Dr. Ruediger Werres
         Friesenplatz 17 a
         50672 Cologne, Germany


DRE-KO KORROSIONSSCHUTZ: Claims Registration Ends September 18
--------------------------------------------------------------
Creditors of DRE-KO Korrosionsschutz GmbH have until Sept. 18 to
register their claims with court-appointed provisional
administrator Burckhardt Reimer.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on Oct. 18 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
         Hall B 405 (Civil Law Courts)
         4th Floor Anbau
         Sievkingplatz 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 DRE-KO Korrosionsschutz GmbH on Aug. 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         DRE-KO Korrosionsschutz GmbH
         Norderelbstr. 15
         20457 Hamburg, Germany

         Attn: Friedrich Dreves, Manager
         Hirschgraben 51
         22089 Hamburg, Germany

The administrator can be contacted at:

         Burckhardt Reimer
         Domstrasse 15
         20095 Hamburg, Germany
         Tel: 41522416
         Fax: 41522-411


FASHION SPORT: Claims Registration Ends September 15
----------------------------------------------------
Creditors of Fashion Sport Agentur Tony Carter GmbH have until
Sept. 15 to register their claims with court-appointed
provisional administrator Christoph Henningsmeier.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on Oct. 18 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
         Hall B 405 (Civil Law Courts)
         4th Floor Anbau
         Sievkingplatz 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 Fashion Sport Agentur Tony Carter GmbH on Aug. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Fashion Sport Agentur Tony Carter GmbH
         Attn: Robert Tompy Carter, Manager
         Griegstrasse 25
         22763 Hamburg, Germany

The administrator can be contacted at:

         Christoph Henningsmeier
         Osdorfer Highway 230
         22549 Hamburg, Germany
         Tel: 8078810


INVESTUS AKTIENGESELLSCHAFT: Creditors' Meeting Set for Sept. 15
----------------------------------------------------------------
The court-appointed provisional administrator for Investus
Aktiengesellschaft, Michael Wilbert, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 9:30 a.m. on Sept. 15.

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

         The District Court of Bonn
         Room W 1.24B
         1. Stick
         William Route 21
         53111 Bonn, Germany      

The Court will also verify the claims set out in the
administrator's report at 9:00 a.m. on Dec. 7 at the same venue.

Creditors have until Oct. 30 to register their claims with the
court-appointed provisional administrator.

The District Court of Bonn opened bankruptcy proceedings against
Investus Aktiengesellschaft on Aug. 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be reached at:

         Investus Aktiengesellschaft
         Attn: Hansjoerg Reetz, Manager
         Christian-Lassen-Route 11 a
         53117 Bonn, Germany

The administrator can be reached at:

         Michael Wilbert
         Simrockstrasse 7
         53113 Bonn, Germany
         Tel: 0228-336255-5
         Fax: 0228-336255-6


KAMINBAU-BEHRENDS: Claims Registration Ends September 13
--------------------------------------------------------
Creditors of Kaminbau-Behrends GmbH have until Sept. 13 to
register their claims with court-appointed provisional
administrator Peter Steuerwald.

Creditors and other interested parties are encouraged to attend
the meeting at 12:15 p.m. on Oct. 11 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 Braunschweig
         E 01
         Martinikirche 8
         38100 Braunschweig, 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 Braunschweig opened bankruptcy proceedings
against Kaminbau-Behrends GmbH on Aug. 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Kaminbau-Behrends GmbH
         Attn: Andreas Behrends, Manager          
         Kirchweg 10
         38104 Braunschweig, Germany

The administrator can be contacted at:

         Peter Steuerwald
         Bruchtorwall 6
         D-38100 Braunschweig, Germany
         Tel: (0531) 2448030
         Fax: (0531) 2448080
         E-mail: psteuerwald@hausherr-steuerwald.de


PROTEC WERKZEUG: Creditors' Meeting Slated for September 20
-----------------------------------------------------------
The court-appointed provisional administrator for PROTEC
Werkzeug-, Lehren- und Modellbau GmbH, Thomas Lissner, will
present his first report on the Company's insolvency proceedings
at a creditors' meeting at 10:20 a.m. on Sept. 20.

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

         The District Court of Osnabrueck
         N 301
         Branch
         Kollegienwall 10
         49074 Osnabrueck, Germany

The Court will also verify the claims set out in the
administrator's report at 9:40 a.m. on Nov. 29 at the same
venue.

Creditors have until Oct. 25 to register their claims with the
court-appointed provisional administrator.

The District Court of Osnabrueck opened bankruptcy proceedings
against PROTEC Werkzeug-, Lehren- und Modellbau GmbH on Aug. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         PROTEC Werkzeug-, Lehren- und Modellbau GmbH
         Attn: Kordula Abing, Manager
         Werner-von-Siemens-Str. 31
         49124 Georgsmarienhuette, Germany

The administrator can be reached at:

         Thomas Lissner
         Schillerstr. 20
         49074 Osnabrueck, Germany
         Tel: 0541/338500
         Fax: 0541/33850-50


PSA INTEGRATIONS: Creditors' Meeting Slated for August 31
---------------------------------------------------------
The court-appointed provisional administrator for PSA
Integrations Aktiengesellschaft, Peter-Alexander Borchardt, will
present his first report on the Company's insolvency proceedings
at a creditors' meeting at 1:00 p.m. on Aug. 31.

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

         The District Court of Hamburg
         Hall B 405 (Civil Law Courts)
         4th Floor Anbau
         Sievkingplatz 1
         20355 Hamburg, Germany         

The Court will also verify the claims set out in the
administrator's report at 10:45 a.m. on Oct. 19 at the same
venue.

Creditors have until Sept. 19 to register their claims with the
court-appointed provisional administrator.

The District Court of Hamburg opened bankruptcy proceedings
against PSA Integrations Aktiengesellschaft on Aug. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be reached at:

         PSA Integrations Aktiengesellschaft
         Attn: Dirk Wittler, Manager
         Fettstrasse 23
         20357 Hamburg, Germany

The administrator can be reached at:

         Peter-Alexander Borchardt
         Deichstrasse 1
         20459 Hamburg, Germany
         Tel: 040/80903047
         Fax: 040/37601199


REINSDORFER FLEISCHKONSERVEN: Claims Registration Ends Sept. 12
---------------------------------------------------------------
Creditors of Reinsdorfer Fleischkonserven GmbH i.L. have until
Sept. 12 to register their claims with court-appointed
provisional administrator Joachim M. E. Voigt-Salus.

Creditors and other interested parties are encouraged to attend
the meeting at 3:00 p.m. on Oct. 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 Dessau
         Hall 123
         Willy-Lohmann-Road 33
         Dessau, 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 Dessau opened bankruptcy proceedings
against Reinsdorfer Fleischkonserven GmbH i.L. on Aug. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Reinsdorfer Fleischkonserven GmbH i.L.
         Bahnhof 5
         06896 Reinsdorf, Germany

         Attn: Joerg Ellermann, Liquidator
         Puschkinstrasse 4
         06886 Wittenberg, Germany

The administrator can be contacted at:

         Joachim M. E. Voigt-Salus
         Rankestrasse 33
         10789 Berlin, Germany
         Tel: 030/2128020
         Fax: 030/21280222


SKS GRUNDSTUECKSVERWALTUNGS: Claims Registration Ends Sept. 12
--------------------------------------------------------------
Creditors of SKS Grundstuecksverwaltungsgesellschaft mbH have
until Sept. 12 to register their claims with court-appointed
provisional administrator Michael C. Frege.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on Oct. 12 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 Leipzig
         Hall 145
         Leipzig, 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 Leipzig opened bankruptcy proceedings
against SKS Grundstuecksverwaltungsgesellschaft mbH on Aug. 3.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         SKS Grundstuecksverwaltungsgesellschaft mbH
         Attn: Alexander Biendl, Manager
         Eilenburger Str. 22A
         04808 Thallwitz, Germany

The administrator can be contacted at:

         Michael C. Frege
         Augustusplatz 9
         04109 Leipzig, Germany


VOLKSWAGEN AG: Mexican Employees Agree to Improved Wage Offer
-------------------------------------------------------------
A five-day strike at Volkswagen AG's Mexican plant ended after
the European carmaker agreed to an improved wage and benefits
offer for its workers.

About 9,600 unionized workers at the company's assembly plant in
Puebla went on strike Aug. 18 after rejecting a 4% wage
increase and a 0.5% increase in food coupons.  The workers
wanted an 8.5% wage increase.

The two parties reached an agreement last week for a 4% direct
wage increase and 1.5% in additional benefits in the form of
groceries vouchers.

The Associated Press said work at Volkswagen's plant resumed
late Wednesday.  The plant makes about 1,400 cars daily.

Headquartered in Wolfsburg, Germany, the Volkswagen Group
-- http://www.volkswagen.de/-- is one of the world's leading  
automobile manufacturers and the largest carmaker in Europe.
With 47 production plants in eleven European countries and a
further seven countries in the Americas, Asia and Africa,
Volkswagen has more than 343,000 employees producing over 21,500
vehicles or are involved in vehicle-related services on every
working day.

                        *    *    *

Volkswagen has been carrying out measures to cut costs and raise
profits, which could affect up to 30,000 jobs.  The potential
job cuts represent about a third of the carmaker's workforce and
three times higher than initial estimates made by Chief
Executive Bernd Pischetsrieder and Volkswagen brand head,
Wolfgang Bernhard.

In November 2005, Volkswagen maintained its 2005 earnings
guidance amid rumors it may lower targets.  The company predicts
a year-on-year improvement in both operating profit after
special items and profit before tax this year.  Rumors flew that
the company would slash full-year earnings forecast due to
higher restructuring costs.  The company said the impact of its
workforce reduction measures, which will be charged as special
items in the fourth quarter, will be lower than last year's.

The company also admitted there were no significant improvements
in the economic environment in the first nine months of 2005,
and the overall situation in the important automotive markets
remained difficult.  It also expected tougher competition in the
Chinese and U.S. markets, and the rise in fuel prices to
influence consumer confidence.


WOLRATH . WILDERMUTH: Claims Registration Ends September 12
-----------------------------------------------------------
Creditors of Wolrath . Wildermuth . Werbeagentur GmbH have until
Sept. 12 to register their claims with court-appointed
provisional administrator Ottmar Hermann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on Oct. 12 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/Main
         Hall 2
         Building F
         Klingerstrasse 20
         60313 Frankfurt/Main, 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 Frankfurt/Main opened bankruptcy
proceedings against Wolrath . Wildermuth . Werbeagentur GmbH on
July 26.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         Wolrath . Wildermuth . Werbeagentur GmbH
         Attn: Harald Wohlrath and Detlef Wildermuth, Managers
         Hanauer Highway 187-189
         60314 Frankfurt/Main, Germany

The administrator can be contacted at:

         Ottmar Hermann
         Bleichstrasse 2-4
         D-60313 Frankfurt/Main, Germany
         Tel: 069/9130920
         Fax: 069/91309230


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


TOWER RECORDS: Organizational Meeting Set at 10:00 a.m. Today
-------------------------------------------------------------
The U.S. Trustee for Region 3 will hold an organizational
meeting to appoint an official committee of unsecured creditors
in MTS, Inc., dba Tower Records' and its debtor-affiliates'
chapter 11 cases at 10:00 a.m., tomorrow, Aug. 29, 2006, at Room
5209, J. Caleb Boggs Federal Building, 844 King Street in
Wilmington, Delaware.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.  The
meeting is not the meeting of creditors pursuant to Section 341
of the Bankruptcy Code.  However, a representative of the
Debtors will attend and provide background information regarding
the cases.

Creditors interested in serving on a Committee should complete
and return to the U.S. Trustee a statement indicating their
willingness to serve on an official committee.

Official creditors' committees, constituted under Section 1102
of the Bankruptcy Code, ordinarily consist of the seven largest
creditors who are willing to serve on a committee.  In some
Chapter 11 cases, the U.S. Trustee is persuaded to appoint
multiple creditors' committees.

Official creditors' committees have the right to employ legal
and accounting professionals and financial advisors, at the
Debtors' expense.  They may investigate the Debtors' business
and financial affairs.  Importantly, official committees serve
as fiduciaries to the general population of creditors they
represent.  Those committees will also attempt to negotiate the
terms of a consensual Chapter 11 plan -- almost always subject
to the terms of strict confidentiality agreements with the
Debtors and other core parties-in-interest.  If negotiations
break down, the Committee may ask the Bankruptcy Court to
replace management with an independent trustee.  If the
Committee concludes that the reorganization of the Debtors is
impossible, the Committee will urge the Bankruptcy Court to
convert the Chapter 11 cases to a liquidation proceeding.

Headquartered in West Sacramento, California, MTS, Inc., dba
Tower Records -- http://www.towerrecords.com/-- is a retailer  
of music in the U.S., with nearly 100 company-owned music, book,
and video stores.  The Company and seven of its affiliates filed
for chapter 11 protection on Aug. 20, 2006 (Bankr. D. Del. Case
Nos. 06-10886 through 06-10893).  Mark D. Collins, Esq., at
Richards Layton & Finger, represents the Debtors.  When the
Debtors filed for protection from their creditors, they
estimated assets and debts of more than US$100 million.

The Company and its affiliates previously filed for chapter 11
protection on Feb. 9, 2004 (Bankr. D. Del. Lead Case No.
04-10394).


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


ALEKSEEVKAAGROSTROIMONTAJ: Creditors' Claims Due Sept. 26
---------------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola Region
declared OJSC Alekseevkaagrostroimontaj insolvent on June 28.

Creditors have until Sept. 26 to submit written proofs of claim
to:

         OJSC Alekseevkaagrostroimontaj
         Auelbekova Str. 139a-228
    Kokshetau
    Akmola Region
         Kazakhstan
    Tel:  8 (3162) 25-79-32


ASTANA BUSINESS: Creditors Must File Claims by Oct. 27
------------------------------------------------------
The Specialized Inter-Regional Economic Court of West Kazakhstan
Region commenced bankruptcy proceedings against JSC Astana
Business Trans Consult on July 4.

Creditors have until Oct. 27 to submit written proofs of claim
to:

         JSC Astana Business Trans Consult
         Evrazia Ave. 61
    Uralsk, Kazakhstan
    Tel: 8 (3112) 50-35-97
              8 (3112) 23-30-29


ATYRAU TRUKS: Creditors Must File Claims by Sept. 27
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Atyrau Region
declared LLP Atyrau Truks insolvent.

Creditors have until Sept. 27 to submit written proofs of claim
to:

         LLP Atyrau Truks
         3rd Floor
    Abai Str. 10a
    Atyrau
    Atyrau Region
    Kazakhstan


BISSANEL: Creditors Must File Claims by Sept. 27
------------------------------------------------
The Specialized Inter-Regional Economic Court of Atyrau Region
declared LLP Bissanel insolvent.

Creditors have until Sept. 27 to submit written proofs of claim
to:

         LLP Bissanel
         3rd Floor
    Abai Str. 10a
    Atyrau
    Atyrau Region
    Kazakhstan


DOSTYK PLASTIK: Claims Registration Ends Sept. 22
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola Region
declared LLP Dostyk Plastik insolvent on June 23.

Creditors have until Sept. 22 to submit written proofs of claim
to:

         LLP Dostyk Plastik
         Auelbekova Str. 139a-228
    Kokshetau
    Akmola Region
         Kazakhstan
         Tel:  8 (3162) 25-79-32


KADEES: Claims Registration Ends Sept. 28
-----------------------------------------
The Specialized Inter-Regional Economic Court of Almaty
commenced bankruptcy proceedings against LLP Specialized
Enterprise Kazah-German Energy Service Kadees on July 4.

Creditors have until Sept. 28 to submit written proofs of claim
to:

         LLP Kadees
         Dostyk Ave. 44-99
    Almaty, Kazakhstan
    Tel: 8 (7052) 03-30-32


KAZVESTFRAHT: Aktobe Court Begins Bankruptcy Proceedings
--------------------------------------------------------
The Branch of the Specialized Inter-Regional Economic Court of
Aktobe Region commenced bankruptcy proceedings against
LLP Kazvestfraht on July 27.


RSM: Proof of Claim Deadline Slated for Sept. 28
------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty
commenced bankruptcy proceedings against LLP RSM on July 11.

Creditors have until Sept. 28 to submit written proofs of claim
to:

         LLP RSM
         Taugul-3, 138
    Almaty, Kazakhstan
    Tel: 8 (3332) 23-07-71


TABOLA: Proof of Claim Deadline Slated for Sept. 26
---------------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty Region
declared LLP Tabola insolvent on July 3.

Creditors have until Sept. 26 to submit written proofs of claim
to:

         LLP Tabola
         Birjan Sal Str. 80-30
    Taldykorgan
    Almaty Region
    Kazakhstan
    Tel: 8 (32822) 24-74-83


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


AEMA LTD: Proof of Claim Deadline Slated for Sept. 29
-----------------------------------------------------
LLC Aema Ltd. has declared insolvency.  Creditors have until
Sept. 29 to submit written proofs of claim to:

         LLC Aema Ltd.
    Micro District 4, 8-26
    Bishkek, Kyrgyzstan


KYRGYZAGROPROMBANK: Public Auction Scheduled for Sept. 1
--------------------------------------------------------
Joint-Stock Commercial Kyrgyzagroprombank will auction the
second and third floors of a building in Karakol to the public
at 10:00 a.m. on Sept. 1 at:

         Moskovskaya Str. 120a
    Karakol
    Issyk-Kul Region
    Kyrgyzstan

with a starting price of KGS2,397,247.

Participants have until Aug. 31 to deposit an amount equivalent
to 10% of the starting price and submit their bids at:

         Moskovskaya Str. 120a
    Karakol
    Issyk-Kul Region
    Kyrgyzstan
    Tel: (+996 312) 66-13-27
         (+996 3922) 51-6-15



=====================
N E T H E R L A N D S
=====================


PYATEROCHKA HOLDING: Merger Prompts Moody's to Cut Rating to B1
---------------------------------------------------------------
Moody's Investors Service downgraded the corporate family rating
of Pyaterochka Holding N.V. to B1 from Ba3.   The outlook for
the rating is stable.   At the same time, Moody's Interfax
Rating Agency, which is majority owned by Moody's, has
downgraded Pyaterochka's national scale rating to A1.ru from
Aa3.ru.   

The rating action concludes the review for possible downgrade
initiated on April 13 following the company's announcement of
its merger with Perekriostok Holdings Limited, Russia's leading
supermarket chain.

Moody's said that the rating downgrade primarily reflects the
increase in debt of the combined entity as compared to
Pyaterochka's pre-merger metrics, and the expectation that the
financial profile of the combined company will maintain similar
leverage levels for the foreseeable rating horizon.   

Over the next two years, fully adjusted Debt/EBITDA is likely to
exceed 4x, while RCF/Net Debt and EBITA/Interest are expected to
be below 20% and 2.5, respectively (all ratios being adjusted as
per Moody's globally used standard adjustments), with a
strengthening of these metrics largely driven by expected
organic growth, the absence of dividend payments and achievement
of free cash flows to reduce group leverage.   Given the
emerging operating environment for Pyaterochka, Moody's has also
factored in a certain vulnerability of this expected recovery of
the financial profile.

The rating action also takes into consideration the positive
impact of the merger on the company's business profile, notably:

   -- market leadership in a still fragmented market, with
strong positions in Moscow and St. Petersburg;

   -- the increased customer coverage with its dual-format
strategy in the food discount and supermarket segments;
and

   -- the combined entity's improved ability to capture growth
opportunities in Russia's fast growing food retail market.

In addition, the rating action takes into consideration the
company history of strong & consistently growing cash flows.
However, for the foreseeable rating horizon, these positive
considerations are outweighed by the higher debt levels and the
effect on the financial profile.

The outlook for the rating is stable as Moody's anticipates that
the company will be able to benefit from its strengthened
franchise as the largest food retailer with both discount and
supermarket business lines in the Russian market, convert its
large investment program into rapidly growing operating cash
flow and significantly improve financial profile within a three-
year period, with Debt/EBITDA to be down from its 2006 peak to
markedly below 4x in 2009.   

Moody's takes into account the management's declared commitment
to largely de-leverage the merged company, starting from 2007,
mainly by not paying dividends for the foreseeable future.

Failure to de-leverage the business starting from 2007 may put
pressure on the company's ratings.   On the other hand
improvements in the financial profile, with the latter getting
closer to the pre-merger level ahead of the projections, is
likely to positively influence the ratings.

Headquartered in the Netherlands, Pyaterochka Holding N.V. is
the leading two-format Russian food retailer operating a large
store network largely covering the Moscow region and
St. Petersburg but also with a good presence in other Russian
regions.  The post-merger Pyaterochka's pro forma 2005 net
revenues were US$2.4 billion.


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


ARISTEY: Court Names A. Nesterov as Insolvency Manager
------------------------------------------------------
The Arbitration Court of Krasnoyarsk Region appointed Mr. A.
Nesterov as Insolvency Manager for CJSC Agro Company Aristey.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A33-6968/2006.

The Arbitration Court of Krasnoyarsk Region is located at:

         Lenina Str. 143
         660021 Krasnoyarsk Region
         Russia

The Debtor can be reached at:

         CJSC Agro Company Aristey
         Roshinskiy
         Mira Str. 58a
         Krasnoyarsk Region
         Russia


ASTAKHANSKAYA JEWELRY: B. Shurshev to Manage Insolvency Assets
--------------------------------------------------------------
The Arbitration Court of Astrakhan Region appointed Mr. B.
Shurshev as Insolvency Manager for LLC Astakhanskaya Jewelry
Factory.  He can be reached at:

         B. Shurshev
         Post User Box 96
         414056 Astrakhan Region
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A06-6468 b/3-11 k/05.

The Debtor can be reached at:

         LLC Astakhanskaya Jewelry Factory
         Savushkina Str. 44A
         Astrakhan Region
         Russia


BORSKOYE ENTERPRISE: N. Pomelov to Manage Insolvency Assets
-----------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod Region appointed Mr.
N. Pomelov as Insolvency Manager for CJSC Borskoye Enterprise of
Reinforced-Concrete Goods.  

The Arbitration Court of Nizhniy Novgorod Region is located at:

         Kremlin 9
         603082 Nizhniy Novgorod Region
         Russia

The Debtor can be reached at:

         CJSC Borskoye Enterprise of Reinforced-Concrete Goods
         Zheleznodorozhnyj
         Borskiy Region
         Nizhniy Novgorod Region
         Russia


BUILDER OF KONYSHEVSKIY: M. Shumakov to Manage Assets
-----------------------------------------------------
The Arbitration Court of Kursk Region appointed Mr. M. Shumakov
as Insolvency Manager for OJSC Builder of Konyshevskiy Region.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A35-3758/06 g.

The Arbitration Court of Kursk Region is located at:

         K. Marksa Str. 25
         305004 Kursk Region
         Russia

The Debtor can be reached at:

         OJSC Builder of Konyshevskiy Region
         Konyshevskiy Region
         307620 Kursk Region
         Russia


INFORMATION SYSTEMS: Mr. P. Alekseev as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Samara Region appointed Mr. P. Alekseev
as Insolvency Manager for CJSC Information Systems.  He can be
reached at:

         P. Alekseev
         7th Gvardeyskaya Str. 2a
         400005 Volgograd Region
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A55-3037/2006.

The Debtor can be reached at:

         CJSC Information Systems
         Repina Str. 6
         Samara Region
         Russia


INTERNATIONAL EUROPEAN: N. Biryukova to Manage Asssets
------------------------------------------------------
The Arbitration Court of Moscow appointed for CJSC International
European Agency (TIN 7708013970).  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A40-20454/06-86-219B.

The Arbitration Court of Moscow is located at:

         Novaya Basmannaya Str. 10
         Moscow Region
         Russia

The Debtor can be reached at:

         CJSC International European Agency
         Building 4.
         Milyutinskiy Per. 10
         Moscow Region
         Russia


KUNESHMA-PROM-GRAIN: Court Names E. Belkov as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Ivanovo Region appointed Mr. E. Belkov
as Insolvency Manager for OJSC Kuneshma-Prom-Grain.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A17-1317/05-14-B.

The Arbitration Court of Ivanovo Region is located at:

         B. Khmelnitskogo Str. 59B
         Ivanovo Region
         Russia

The Debtor can be reached at:

         OJSC Kuneshma-Prom-Grain
         Kineshma, Vinogradova Str. 5
         155808 Ivanovo Region
         Russia


PSKOV-BRICK: Pskov Court Starts Bankruptcy Supervision
------------------------------------------------------
The Arbitration Court of Pskov Region has commenced bankruptcy
supervision procedure on CJSC PSKOV-BRICK (TIN 6027004099).
The case is docketed under Case No. A52-2415/2005/4.

The Temporary Insolvency Manager is:

         V. Bashmakov
         Zvenigorodskoye Shosse 3
         123022 Moscow Region
         Russia

The Debtor can be reached at:

         CJSC Pskov-Brick
         Borovaya Str. 15
         180011 Pskov Region
         Russia


PUGACHEV-MILK: Court Names I. Nesterov as Insolvency Manager
------------------------------------------------------------
The Arbitration Court of Saratov Region appointed Mr. I.
Nesterov as Insolvency Manager for LLC Pugachev-Milk.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A57-99B/06-12.

The Arbitration Court of Saratov Region is located at:

         Babushkin Vvoz 1
         Saratov Region
         Russia

The Debtor can be reached at:

         LLC Pugachev-Milk
         Pugachev
         Saratov Region
         Russia


RYB-TEKHNO-KHOLOD: Court Names A. Dyagilev as Insolvency Manager
----------------------------------------------------------------
The Arbitration Court of Novosibirsk Region appointed Mr. A.
Dyagilev as Insolvency Manager for CJSC Ryb-Tekhno-Kholod.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A45-8167/06-10/47.

The Arbitration Court of Novosibirsk Region is located at:

         Kirova Str. 3
         630007 Novosibirsk Region
         Russia

The Debtor can be reached at:

         CJSC Ryb-Tekhno-Kholod
         Bogatkova Str. 262
         Novosibirsk Region
         Russia


SALYM-OIL-SERVICE: Court Starts Bankruptcy Supervision
------------------------------------------------------
The Arbitration Court of Khanty-Mansiyskiy Autonomous Region has
commenced bankruptcy supervision procedure on CJSC Salym-Oil-
Service.  The case is docketed under Case No. A-75-3826/2006.

The Temporary Insolvency Manager is:

         A. Zubairov
         Post User Box 6475
         625039 Tyumen-39
         Russia

The Debtor can be reached at:

         CJSC Salym-Oil-Service
         2nd Location 32
         Nefteyugansk
         628309 Khanty-Mansiyskiy Autonomous Region
         Russia


SARATOVSKAYA INDUSTRIAL: External Management Procedure Starts
-------------------------------------------------------------
The Arbitration Court of Saratov Region has commenced external
management bankruptcy procedure on OJSC Saratovskaya Industrial-
Financial Gas-Energy Company.  The case is docketed under Case
No. A-57-527B/05-12.

The External Insolvency Manager is:
         
         L. Shlyapin
         Post User Box 6088
         614000 Perm Region
         Russia

The Arbitration Court of Saratov Region is located at:

         Babushkin Vvoz 1
         Saratov Region
         Russia

The Debtor can be reached at:

         OJSC Saratovskaya
         Industrial-Financial Gas-Energy Company
         50 Let Oktyabrya Str. 110a
         410040 Saratov Region
         Russia


SERGACHSKAYA FURNITURE: Y. Shishkov to Manage Insolvency Assets
---------------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod appointed Mr. Y.
Shishkov as Insolvency Manager for OJSC Sergachskaya Furniture.  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A43-4896/2006 24-50.

The Arbitration Court of Nizhniy Novgorod Region is located at:

         Kremlin 9
         603082 Nizhniy Novgorod Region
         Russia

The Debtor can be reached at:

         OJSC Sergachskaya Furniture
         Sovetskaya Square-5
         Sechenovo
         Nizhniy Novgorod Region
         Russia


SIB-GAS-PRIBOR: Tyumen Court Starts Bankruptcy Supervision
----------------------------------------------------------
The Arbitration Court of Tyumen Region has commenced bankruptcy
supervision procedure on CJSC Sib-Gas-Pribor.  The case is
docketed under Case No. A70-2300/3-2006g.

The Temporary Insolvency Manager is:

         I. Kravchenko
         Office 240
         Melnikayte Str. 106
         625026 Tyumen Region Russia

The Arbitration Court of Tyumen Region is located at:

         Khokhryakova Str. 77
         627000 Tyumen Region
         Russia

The Debtor can be reached at:

         CJSC Sib-Gas-Pribor
         Velizhanskiy Trakt
         625059 Tyumen Region
         Russia


SIVINSKIY DIARY: Perm Court Starts Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Perm Region has commenced bankruptcy
supervision procedure on LLC Sivinskiy Diary.  The case is
docketed under Case No. A 50-7052/2006-B.

The Temporary Insolvency Manager is:

         A. Boltakov
         Post User Box 6952
         614068 Perm Region
         Russia

The Arbitration Court of Perm Region is located at:

         Lunacharskogo Str. 3
         Perm Region
         Russia

The Debtor can be reached at:

         LLC Sivinskiy Diary
         Zavodskaya Str. 31
         617240 Perm Region
         Russia


SLAVGORODSKAYA BREWERY: G. Voinov to Manage Insolvency Assets
-------------------------------------------------------------
The Arbitration Court of Altay Region appointed Mr. G. Voinov as
Insolvency Manager for OJSC Slavgorodskaya Brewery.  He can be
reached at:

         G. Voinov
         Post User Box 3844
         Barnaul
         656023 Altay Region
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
AO3-21341/05-B.

The Debtor can be reached at:

         OJSC Slavgorodskaya Brewery
         Gagarina Str. 209
         Slavgorod
         Altay Region
         Russia


STROY-DETAIL: Court Names P. Volkov as Insolvency Manager
---------------------------------------------------------
The Arbitration Court of Murmansk Region appointed Mr. P. Volkov
as Insolvency Manager for OJSC Factory Stroy-Detail (TIN
5108300087).  He can be reached at:

         P. Volkov
         Starostina Str. 19
         183071 Murmansk Region
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A-42-7326/2005.

The Debtor can be reached at:

         OJSC Factory Stroy-Detail
         Stroitelnaya Str. 67A
         Olenegorsk
         174533 Murmansk Region
         Russia


STROY-INVEST: Omsk Court Names S. Vinnik as Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Omsk Region appointed Mr. S. Vinnik as
Insolvency Manager for OJSC Stroy-Invest.  

         He can be reached at:
         S. Vinnik
         Post User Box 2699
         644099 Omsk Region
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A46-4819/2006.

The Debtor can be reached at:

         OJSC Stroy-Invest
         10 Let Oktyabrya Str. 195/1
         Omsk Region
         Russia


TULA-FURNITURE-3: G. Vershinina to Manage Insolvency Assets
-----------------------------------------------------------
The Arbitration Court of Tula Region appointed Ms. G. Vershinina
as Insolvency Manager for LLC Tula-Furniture-3 (TIN 7114007429).  
She can be reached at:

         G. Vershinina
         Post User Box 1390
         300041 Tula-41
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A68-68/B-05.

The Debtor can be reached at:

         LLC Tula-Furniture-3
         Polevaya 24
         Novougolnyj
         Donskoy
         301772 Tula Region
         Russia


WOOD-PROCESSING COMPLEX: T. Deloverov to Manage Assets
------------------------------------------------------
The Arbitration Court of Irkutsk Region appointed Mr. T.
Deloverov as Insolvency Manager for CJSC Wood-Processing Complex
(TIN 3826002790).  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A19-10360/06-34.

The Arbitration Court of Irkutsk Region is located at:  

         Room 303
         Gagarina Avenue 70
         664025 Irkutsk Region
         Russia

The Debtor can be reached at:

         CJSC Wood-Processing Complex
         Lermontova 37
         Zima
         665392 Irkutsk Region
         Russia


YARKSIY FLAX: Court Names A. Shadrin as Insolvency Manager
----------------------------------------------------------
The Arbitration Court of Udmurtiya Republic appointed Mr. A.
Shadrin as Insolvency Manager for Municipal Unitary Enterprise
Yarksiy Flax Factory (TIN 1825000250).  He can be reached at:

         A. Shadrin
         K. Marksa Str. 246
         Izhevsk
         426000 Udmurtiya Republic
         Russia

The Court commenced bankruptcy proceedings against the company
after finding it insolvent.  The case is docketed under Case No.
A71-2264/2006 G29.

The Debtor can be reached at:

         Municipal Unitary Enterprise Yarksiy Flax Factory
         Yar
         427510 Udmurtiya Republic
         Russia


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


AGROSINTEZ-HOLDING: Oleksandr Mantsurov to Liquidate Assets
-----------------------------------------------------------
The Economic Court of Zaporizhya Region appointed Oleksandr
Mantsurov as Liquidator/Insolvency Manager for LLC Agrosintez-
Holding (code EDRPOU 31326569).  He can be reached at:
         
         Oleksandr Mantsurov
         Centralna Str. 2/41
         Energodar
         71500 Zaporizhya Region
         Ukraine

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on June 22.  The case is docketed
under Case No. 25/304.

The Economic Court of Zaporizhya Region is located at:

         Shaumyana Str. 4
         69001 Zaporizhya Region
         Ukraine

The Debtor can be reached at:

         LLC Agrosintez-Holding
         Gorkij Str. 2A/9
         Vesele
         72200 Zaporizhya Region
         Ukraine


INKOMINVEST: Court Names State Enterprise Center as Liquidator
--------------------------------------------------------------
The Economic Court of Harkiv Region appointed State Enterprise
Court Information Center as Liquidator for LLC Inkominvest (code
EDRPOU 32950846).

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on July 17.  The case is docketed
under Case No. B-48/40-06.

The Economic Court of Harkiv Region is located at:

         Derzhprom 8th Entrance
         Svobodi Square 5
         61022 Harkiv Region
         Ukraine

The Debtor can be reached at:

         LLC Inkominvest
         Kirov Str. 38
         Harkiv Region
         Ukraine


LATGAL: Lviv Court Starts Bankruptcy Supervision Procedure
----------------------------------------------------------
The Economic Court of Lviv Region commenced bankruptcy
supervision procedure on LLC Latgal (code EDRPOU 13804042) on
June 9.  The case is docketed under Case No. 6/94-8/157.

The Temporary Insolvency Manager is:

         Vitalij Vinnikov
         Sportivna Str. 2/9
         Pustomiti
         81100 Lviv Region Ukraine

The Economic Court of Lviv Region is located at:

         Lichakivska Str. 81
         79010 Lviv Region
         Ukraine

The Debtor can be reached at:

         LLC Latgal
         Lesya Ukrainka Str. 1
         Zhovkva
         80300 Lviv Region
         Ukraine


ROSINKA: Harkiv Court Names N. Zhuk as Insolvency Manager
---------------------------------------------------------
The Economic Court of Harkiv Region appointed Mr. N. Zhuk as
Liquidator/Insolvency Manager for Farmer Enterprise Rosinka
(code EDRPOU 31293277).  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on June 30.  The case is docketed
under Case No. B-50/99-06.

The Economic Court of Harkiv Region is located at:

         Derzhprom 8th Entrance
         Svobodi Square 5
         61022 Harkiv Region
         Ukraine

The Debtor can be reached at:

         Farmer Enterprise Rosinka
         Mikolaev Str. 26
         Harkiv District
         62480 Harkiv Region
         Ukraine


SINTEZ: Kyiv Court Names N. Kovalenko as Insolvency Manager
-----------------------------------------------------------
The Economic Court of Kyiv appointed Mr. Kovalenko N. as
Liquidator/Insolvency Manager for LLC Sintez (code EDRPOU
32985081).  

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on July 14.  The case is docketed
under Case No. 43/359.

The Economic Court of Kyiv Region is located at:

         B. Hmelnitskij Boulevard 44-B
         01030 Kyiv Region
         Ukraine

The Debtor can be reached at:

         LLC Sintez
         Tankova Str. 4
         Kyiv Region
         Ukraine


SMILA' ELECTRO-MECHANICAL: Valentina Benitska to Manage Assets
--------------------------------------------------------------
The Economic Court of Cherkassy Region appointed Valentina
Benitska as Liquidator/Insolvency Manager for JSC Smila'
Electro-Mechanical Plant (code EDRPOU 0105639).  She can be
reached at:

         Grushevskij Str. 34/1-98
         01021 Kyiv Region
         Ukraine

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on July 14.  The case is docketed
under Case No. 01/154.

The Economic Court of Cherkassy Region is located at:

         Shevchenko Avenue 307
         18005 Cherkassy Region
         Ukraine

The Debtor can be reached at:

         JSC Smila' Electro-Mechanical Plant
         Amurskij Lane 1
         Smila
         Cherkassy Region
         Ukraine


STATE EXPORT-IMPORT: Fitch Rates US$300 Mln Eurobond at BB-
-----------------------------------------------------------
Fitch Ratings assigned Credit Suisse International's upcoming
US$300 million issue of limited recourse loan participation
notes an expected Long-term rating of BB-.  The notes are to be
used solely for financing a loan to The State Export-Import Bank
of Ukraine ("Ukreximbank", Issuer Default BB-/Stable Outlook,
Short-term B, Support 3, Individual D/E, National Long-term
AA/Stable Outlook) under a loan agreement.  The final rating is
contingent on receipt of final documentation conforming
materially to information already received.

CSi will only pay noteholders amounts, if any, received from
Ukreximbank under the loan agreement.  Noteholders' claims will
rank at least pari passu with the claims of other senior
unsecured creditors of Ukreximbank, save those preferred by
relevant laws.  Under Ukrainian law, the claims of retail
depositors rank above those of other senior unsecured creditors.
At end-H106, retail depositors accounted for 18.5% of
Ukreximbank's total liabilities, according to the bank's IFRS
accounts reviewed by auditors.

The loan agreement contains covenants restricting mergers and
disposals by Ukreximbank and its subsidiaries as well as
transactions between the bank and its subsidiaries.  It also
contains a 'negative pledge' clause, which allows for a certain
degree of securitization by Ukreximbank and its subsidiaries.
Were such transactions to be undertaken, Fitch comments that the
nature and extent of any over-collateralization would be
assessed by the agency for any potential impact on unsecured
creditors.

In addition, the loan agreement contains a 'change of control',
clause which provides noteholders with a put option should the
Ukrainian state cease to control the bank's activities or
publicly announce its intention to do this.

Ukreximbank's Issuer Default, Short-term and Support ratings are
driven by what Fitch views as a moderate probability of support
from the Ukrainian government in case of need.  The Ukrainian
state (rated BB-/Stable Outlook) is the bank's sole shareholder
and Ukreximbank is the only Ukrainian bank that acts as a
financial agent for international loans, which are originated,
borrowed or guaranteed by the state.  Fitch also notes that
successive Ukrainian governments have issued public letters of
support to the bank, although the government has changed since
the last such letter, of January 2006, was signed.

Ukreximbank was founded in 1992 and was the fifth largest
Ukrainian bank by assets at end-H106.  The bank's principal
franchise lies in serving corporate customers and their
workforce.


STATUS: Lugansk Court Names S. Ptushko as Insolvency Manager
------------------------------------------------------------
The Economic Court of Lugansk Region appointed Mr. S. Ptushko as
Liquidator/Insolvency Manager for JSCCT Scientific-Production
Corporation Status (code EDRPOU 23262820).  He can be reached
at:

         Komsomolu Quarter 4/109
         Leninskogo
         91006 Lugansk Region
         Ukraine

The Court commenced bankruptcy proceedings against the company
after finding it insolvent on May 30.  The case is docketed
under Case No. 19/46 b.

The Economic Court of Lugansk Region is located at:

         Geroiv VVV Square 3a
         91000 Lugansk Region
         Ukraine

The Debtor can be reached at:

         JSCCT Scientific-Production Corporation Status
         Shevchenko Str. 3
         Severodonetsk
         93400 Lugansk Region
         Ukraine


UKREXIMBANK: Moody's Rates Loan Participation Notes at Ba2
----------------------------------------------------------
Moody's Investors Service assigned a rating of Ba2 to Loan
Participation Notes to be issued on a limited recourse basis by
Credit Suisse International for the sole purpose of funding a
loan to Ukreximbank.   The outlook for the rating is stable.

The holders of the notes will be relying for repayment solely
and exclusively on the ability of Ukreximbank to make payments
under the loan agreement.   Moody's Ba2 rating is based on the
fundamental credit quality of Ukreximbank, a wholly state-owned
bank which, as well as acting as government agent, is engaged in
commercial banking activities and ranked fifth-largest bank in
Ukraine in terms of total assets as at June 30, 2006.

The rating also reflects the probability of a sovereign default
implied by Ukraine's B1 (stable outlook) foreign currency bond
rating, and the likelihood that in the event of default the
Ukrainian government could impose a debt moratorium on its own
foreign currency obligations.

The rating also addresses the risk that such a moratorium might
include foreign currency loans and that these notes in
particular, being dependent upon loan payments by Ukreximbank,
might be affected.   Given that the banking system is an arm of
the government's monetary and foreign exchange policy, Moody's
believes that credits dependent upon bank performance may have a
lower probability of having such payments exempted from a
moratorium than would, for example, those of a major exporter.
The Ba2 rating thus indicates the joint probabilities of default
that are contained in Ukraine's foreign currency ceiling and the
stand-alone rating of the security.

The obligations of Ukreximbank to make payments under the loan
agreement will rank at all times at least pari-passu with the
claims of all other unsubordinated creditors of the borrower,
save for those claims that are preferred by any relevant law.
According to Ukrainian legislation, accounts of individuals (19%
of Ukreximbank's total liabilities at end-June 2006) are ranked
senior in right of payment to the claims under the loan
agreement.   The loan agreement contains a cross-acceleration
clause as well as covenants that limit mergers, disposals and
transactions with affiliates.

According to Moody's, the notes might be eligible for early
redemption by the noteholders if the bank's ratings were to be
downgraded as a result of the Ukrainian government's intention
to cease its ownership or control of the bank.  While the
likelihood of the occurrence of a mishandled privatization is
relatively low, this clause might have adverse liquidity
implications for the bank and might exert additional downward
pressure on its ratings in such a situation.

Ukreximbank is headquartered in Kyiv, Ukraine, and reported
total consolidated assets of US$2.5 billion in accordance with
IFRS as at June 30, 2006.


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


A 2 Z PLUMBING: Creditors Confirm Liquidators' Appointment
----------------------------------------------------------
Neil Charles Money and Neil Richard Gibson of CBA were appointed
Joint Liquidators of A 2 Z Plumbing Limited on July 24 for the
purposes of the creditors' voluntary wind-up.

Subsequently, the creditors confirmed the appointment of the
Joint Liquidators.

The company can be reached at:

         A 2 Z Plumbing Limited
         28 Sunnyside Road
    Beeston
    Nottingham
    Nottinghamshire NG9 4FG
    United Kingdom
    Tel: 0115 919 9288


ACUMA CAPITAL: Hires Begbies Traynor to Administer Assets
---------------------------------------------------------
David Acland and Sarah Bell of Begbies Traynor were appointed
joint administrators of Acuma Capital Limited (Company Number
04350959) on Aug. 1.

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.  

Headquartered in Cheshire, United Kingdom, Acuma Capital Limited
is engaged in refurbishment and remarketing of HGV's.


ALAN YORKE: Names T. Papanicola as Administrator
------------------------------------------------
T. Papanicola of Bond Partners LLP was named administrator of
Alan Yorke Engineering Limited (Company Number 03001251) on
Aug. 7.

The administrator can be reached at:

         Bond Partners LLP
         The Grange
         100 High Street
         London N14 6TG
         United Kingdom
         Tel: 020 8444 2000
         Fax: 020 8444 3400

Headquartered in Rushden, United Kingdom, Alan Yorke Engineering
Limited manufactures special purpose machinery.


AMANDA LACEY: Brings In Harris Lipman as Administrators
-------------------------------------------------------
Freddy Khalastchi and Michaela Joy Hall of Harris Lipman LLP
were appointed joint administrators of Amanda Lacey Limited
(Company Number 04015787) on Aug. 4.

The administrators can be reached at:

         Harris Lipman LLP
         New Broad Street House
         35 New Broad Street
         London EC1M 1NH
         United Kingdom
         Tel: 0845 3385292  
         Web: http://www.harris-lipman.co.uk/

Amanda Lacey Limited can be reached at:

         Unit 24 Chelsea Wharf
         15 Lots Road
         Kensington and Chelsea
         London SW10 0QJ
         United Kingdom



ANDROMEDA JEWELLERY: Appoints Liquidator from Rogers Evans
----------------------------------------------------------
Terry Christopher Evans of Rogers Evans was appointed Liquidator
of Andromeda Jewellery Limited on July 28 for the purposes of
the creditors' voluntary wind-up.

The company can be reached at:

         Andromeda Jewellery Limited
    The Cedar Suite
    Winchester Road
    Alresford
    Hampshire SO249EZ
    United Kingdom
    Tel: 01962 734 958


ATLANTIC GOLF: Taps Phillip Anthony Roberts to Liquidate Assets
---------------------------------------------------------------
Phillip Anthony Roberts was appointed Liquidator of Atlantic
Golf Limited on July 27 for the purposes of the company's
voluntary winding-up procedure.

The appointment of the Liquidator was confirmed at a meeting of
creditors held on the same day.

The company can be reached at:

         Atlantic Golf Limited
    Westside Centre
    London Road
    Stanway
    Colchester CO3 8PH
    United Kingdom
    Tel: 01206 504 030


AUDOS LIMITED: Taps Gagen Dulari to Administer Assets
-----------------------------------------------------
Gagen Dulari Sharma of Sharma & Co. was appointed administrator
of Audos Limited (Company Number 03164977) on Aug. 2.

The administrator can be reached at:

         Sharma & Co.
         50 Newhall Street
         Birmingham
         West Midlands B3 3QE
         United Kingdom
         Tel: 0121 248 5007
         Fax: 0121 248 5010
         E-mail: gagen@sharmaandco.com

Headquartered in Birmingham, United Kingdom, Audos Limited is
engaged in conference production and event management.


AUTOWISE MOTORIST: Hires Liquidator from Citroen Wells
------------------------------------------------------
Murzban Khurshed Mehta of Citroen Wells was appointed Liquidator
of Autowise Motorist Centre Limited on July 26 for the purposes
of the creditors' voluntary winding-up.

The company can be reached at:

         Autowise Motorist Centre Limited
    130C High Street
    Brentford
    Middlesex TW8 8EW
    United Kingdom
    Tel: 020 8560 4629


B & D HOLT: Creditors Ratify Liquidator's Appointment
-----------------------------------------------------
Members of B & D Holt Limited appointed John Paul Bell of Clarke
Bell as Liquidator on July 28 for the purposes of the company's
voluntary winding up.

The creditors ratified the appointment of the Liquidator.

The company can be reached at:

         B & D Holt Limited
    Cuthbert Street
    Bolton BL3 3SD
    United Kingdom
    Tel: 01204 464 222
    Web: http://www.bdholt.co.uk/


BETTER HEALTHCARE: Hires Tenon Recovery as Joint Administrators
---------------------------------------------------------------
S. Burkett-Coltman and S. R. Thomas of Tenon Recovery were
appointed joint administrators of Better Healthcare Services
Ltd. (Company Number 4056965) on July 27.

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

Headquartered in Peterborough, United Kingdom, Better Healthcare
Services Ltd. is an agency providing temporary nursing staff.


BINTEC TRANSPORT: Taps Liquidator from Begbies Traynor
------------------------------------------------------
David R. Acland of Begbies Traynor was appointed Liquidator of
Bintec Transport Solutions Limited on July 21 on for the
purposes of the creditors' voluntary winding-up proceeding.

The company can be reached at:

         Bintec Transport Solutions Limited
    2 Gladstone Road
    Farnworth
    Bolton BL4 7EH
    United Kingdom
    Tel: 01204 398 989


BLACK DIAMOND: Brings In Joint Liquidators from Begbies Traynor
---------------------------------------------------------------
Ian Michael Rose and Robert Michael Young of Begbies Traynor
were appointed Joint Liquidators of Black Diamond Direct Limited
on July 28 for the purposes of the creditors' voluntary winding-
up.

The company can be reached at:
  
         Black Diamond Direct Limited
    Unit 11D
    Raleigh Hall Industrial Estate
    Eccleshall
    Stafford ST21 6JL
    United Kingdom
    Tel: 01785 851 637


CHERWELL CONSERVATORIES: Creditors' Meeting Slated for Sept. 1
--------------------------------------------------------------
Creditors of Cherwell Conservatories Limited (Company Number
02458265) will meet at 2:30 p.m. on Sept. 1 at:

         Irwin & Company
         Station House
         Midland Drive
         Sutton Coldfield
         West Midlands B72 1TU
         United Kingdom

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at 12:00 noon on Aug. 31 at:

         Gerald Irwin
         Administrator
         Irwin & Company
         Station House
         Midland Drive
         Sutton Coldfield
         Birmingham
         West Midlands B72 1TU
         United Kingdom
         Tel: 08700 111812
         Fax: 08700 111813
         E-mail: mail@irwinuk.net


CLANCEY HOLDINGS: Taps Joint Administrators from KPMG
-----------------------------------------------------
Mark Jeremy Orton and Allan Watson Graham of KPMG LLP were
appointed joint administrators of Clancey Holdings Limited
(Company Number 00677925) on Aug. 7.

KPMG -- http://www.kpmg.co.uk/-- in the U.K. is part of a  
strong global network of member firms with 9,500 partners and
staff working in 22 offices across the U.K. providing audit, tax
and advisory services.

Clancey Holdings Limited can be reached at:

         Mogul Lane
         Halesowen
         West Midlands B63 2QG
         United Kingdom
         Tel: 01384 568 422


COLLINS & AIKMAN: Posts US$44MM Net Loss in Period Ended July 29
----------------------------------------------------------------

                    Collins & Aikman Corporation
                           Balance Sheet
                        As of July 29, 2006

                               ASSETS

Cash                                                
US$59,453,535
Accounts receivable-trade, net                      152,191,700
Other non-trade receivables                           5,860,337
Inventories, net                                     97,702,438
Tooling and molding, net-current                     47,650,158
Prepaids & other current assets                      58,847,143
Deferred tax assets-current                             (87,825)
                                                 ---------------
TOTAL CURRENT ASSETS                                421,617,485

Investments in subsidiaries                       2,534,708,519
Fixed assets, net                                   301,539,896
Goodwill, net                                       978,554,071
Deferred tax assets-long term                        25,938,826
Tooling and molding, net-long term                    8,274,568
Other noncurrent assets                              88,234,181
Intercompany accounts - net                         128,908,298
Prepetition intercompany - net                      703,340,141
                                                 ---------------
TOTAL ASSETS                                   US$5,191,115,958

                         LIABILITIES & EQUITY

Notes payable                                                
US$0
Short term borrowings                                         0
Advance on receivables                                        0
Current portion-long term debt                      245,450,028
Current portion-capital leases                                0
Accounts payable                                     39,025,326
Accrued interest payable                              9,021,840
Accrued & other liabilities                         102,880,100
Income taxes payable                                 (1,744,698)
                                                 ---------------
TOTAL CURRENT LIABILITIES                           394,632,597

Liabilities subject to compromise                 2,387,061,124
                                                 ---------------
Total liabilities                                 2,781,693,721

Total equity                                      2,409,422,263
                                                 ---------------
TOTAL LIABILITIES & EQUITY                      US$5,191,115,985



                    Collins & Aikman Corporation
                          Income Statement
                     Month Ending July 29, 2006

Net outside sales                                   
US$73,171,614
I/C Net sales                                         4,836,656
                                                 ---------------
Total sales                                          78,008,270

Cost of goods sold                                   98,280,152
                                                 ---------------
Gross profit                                        (20,271,882)

Selling, general & administrative expenses           18,917,861
                                                 ---------------
Operating income                                    (39,189,743)

Interest expenses                                     8,195,745
Intercompany interest, net                           (2,507,541)
Preferred stock accretion                                     0
Miscellaneous (income)/expense                                0
Corporate allocation adjustment                               0
Commission income                                       (99,794)
Commission expense                                            0
Royalty income                                         (288,536)
Royalty expense                                               0
Joint Venture (Income)/Expense                                0
Minority interest in cons net income                          0
Dividend income                                               0
Discount/Income for Carcorp.                                  0
Gain/(Loss) early extinguishments of debt                     0
Discount/Premium on hedges                                    0
(Gain)/Loss on hedges                                         0
(Gain)/Loss on swaps                                          0
NAAIS Intercompany sales profit                               0
Loss on sale of receivables                                   0
Restructuring provision                                       0
Foreign transactions - (Gain)/Loss                     (571,546)
Amort of discount on NPV of liabilities                       0
(Gain)/Loss on sale-leaseback transaction                     0
                                                 ---------------
Income from continuing operations before taxes      (43,918,071)

Federal income tax                                            0
State income tax                                              0
Foreign income tax                                       13,306
                                                 ---------------
Income from continuing operations                   (43,931,377)

Discontinued operations                                 110,035
Gain/Loss on sale of divisions                                0
Extraordinary items                                           0
Integration                                                   0
                                                 ---------------
NET INCOME (LOSS)                                (US$44,041,412)

Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in  
cockpit modules and automotive floor and acoustic systems and is
a leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems.  The Company
has a workforce of approximately 23,000 and a network of more
than 100 technical centers, sales offices and manufacturing
sites in 17 countries throughout the world.  The Company and its
debtor-affiliates filed for chapter 11 protection on May 17,
2005 (Bankr. E.D. Mich. Case No. 05-55927).  Richard M. Cieri,
Esq., at Kirkland & Ellis LLP, represents C&A in its
restructuring.  Lazard Freres & Co., LLC, provides the Debtor
with investment banking services.  Michael S. Stammer, Esq., at
Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors Committee.  When the Debtors
filed for protection from their creditors, they listed
$3,196,700,000 in total assets and US$2,856,600,000 in total
debts.  (Collins & Aikman Bankruptcy News, Issue No. 38;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


COLT TELECOM: Posts EUR29 Million Net Loss in First Half of 2006
----------------------------------------------------------------
COLT Telecom Group Limited disclosed financial results for the
three and six months ended June 30, 2006, and for the first time
as a wholly owned subsidiary of COLT Telecom Group S.A., its
newly-formed Luxembourg-domiciled parent company.

The purpose of this disclosure is to satisfy the Company's
reporting obligations under the UKLA's Listing Rules in respect
of its listed debt securities.   The financial information is
based on the interim report released by COLT S.A. on July 20 but
includes only the consolidated results, cash flows and balance
sheet of COLT Ltd. and its subsidiaries.

In the six months ended June 30, 2006, the Company reported net
loss of EUR29 million, compared with net loss of EUR76.9 million
in the six months ended June 30, 2005.

                 Second Quarter Highlights

Corporate actions

   -- 2007 Senior Convertible Notes redeemed early for a cash
cost of EUR333 million

   -- delisting from NASDAQ complete and SEC registration
suspended

   -- new parent company incorporated and domiciled in
Luxembourg
   
   -- COLT Telecom Group plc converted from a public limited
company to a private limited company

Compared to Q2 2005

   -- revenue decreased by 3.6% to EUR449.7 million. After
excluding reductions in fixed to mobile prices, revenue
decreased by 1.7%
   
   -- non-switched revenues grew by 4.3% to EUR186 million
  
   -- gross margin before depreciation increased by 0.9  
percentage points to 34.5%

   -- selling, general and administrative expenses decreased
by EUR5.9 million to EUR90.8 million

   -- EBITDA increased by EUR4.3 million to EUR64.4 million

   -- loss before taxation decreased by EUR27 million to
      EUR9 million

   -- free cash flow increased by EUR22.6 million to an inflow
of EUR8.2 million

Compared to Q1 2006

   -- revenue increased by 0.3% to EUR449.7 million. After
excluding reductions in fixed to mobile prices, revenue
increased by 0.4%

   -- non-switched revenue grew by 1.9% to EUR186.0 million

   -- gross margin before depreciation decreased by 1.2
percentage points to 34.5%

   -- selling, general and administrative expenses increased
by EUR0.1 million to EUR90.8 million

   -- EBITDA decreased by EUR5.0 million to EUR64.4 million

   -- loss before taxation decreased by EUR1.7 million to
EUR9 million

   -- free cash flow increased by EUR19.6 million to an inflow
of EUR8.2 million

At June 30, 2006, the Company's balance sheet showed a
stockholders' equity of EUR471.4 million compared with a
stockholders' equity of EUR913.8 at June 30, 2005.  The Company
also experienced strained liquidity for the period with
EUR613.9 million of current assets to pay EUR726.2 million of
liabilities within the year.  

Jean-Yves Charlier, Group Chief Executive, said, "Market
conditions remain tough, with price competition continuing to
feature more prominently in some products and geographies than
others.  To succeed in these challenging markets we must not
only drive new data and other value-added revenues up but also
drive costs down.

"Revenues were flat over the quarter, reflecting a weaker
performance in voice but continued growth in data.  The German
and U.K. voice markets continue to be particularly difficult
reflecting structural decline in Carrier Pre-Select and
increased competition respectively.  Data revenue growth was led
by double-digit growth in Ethernet and Data Centre Solutions.
Revenue from new products is continuing to build but it is not
yet at a fast enough pace for these revenues to be material.  
Our principal revenue challenge continues to be to accelerate
the growth of our new products to be faster than the decline in
legacy products.

"Fixed costs, though down on last year, were up against Q1 and
we are focused on ensuring that the downward trend continues.
Good operational progress has however continued in India, in our
new Pan European Customer Service Centre in Barcelona, and with
the first three companies successfully going live on our new
India based ERP application.

"Despite lower revenues, EBITDA improved and losses were reduced
over last year, reflecting improved data revenue mix and lower
costs.  We were again free cash flow positive in the quarter,
and our loss before taxation and exceptional items reduced to
EUR9 million.

"The program of corporate actions that we announced in February
was successfully completed during Q2.  We have de-listed from
NASDAQ, suspended our SEC registration in the U.S., incorporated
a new group holding company in Luxembourg and redeemed our 2007
Notes.   We have given notice of our intent to redeem the 2008
Notes as well.  Together these actions will make COLT a much
stronger, more profitable company.

"We expect to make progress over the balance of the year.
Although revenues for 2006 are now expected to be broadly in
line with last year, we expect continued improvement in revenue
mix and intend further action on costs. We expect to be free
cash flow positive for the year." Mr. Charlier concluded.

Headquartered in London, United Kingdom, Colt Telecom --
http://www.colt.net/-- offers business communication services  
across Europe.  Through its fiber optic network, the Company
offers voice, bandwidth, e-business and managed network services
to finance, industry and service sector customers and
governments.

                        *     *     *

As reported in TCR-Europe on Aug. 8, Standard & Poor's Ratings
Services raised its long-term corporate credit rating on
European business telecommunications provider COLT Telecom Group
Ltd. to 'B' from 'B-' and removed the ratings from CreditWatch,
where they were placed on Feb. 24.  S&P said the outlook is
stable.

The issue ratings on COLT's existing senior unsecured notes were
also raised to 'B' from 'B-' and removed from CreditWatch.
     
At the same time, Standard & Poor's assigned its 'B' long-term
corporate credit rating to COLT Telecom Group S.A., the new
ultimate parent of COLT.  S&P said the outlook is stable.

As reported in TCR-Europe on July 28, Moody's Investors Service
upgraded the rating of COLT Telecom Group Ltd.'s senior notes to
B2 from B3 following the successful completion of the equity
offering by COLT Telecom Group S.A.  Concurrently Moody's
assigned a B2 corporate family rating to COLT S.A. and removed
the B3 corporate family rating of COLT Telecom Group Ltd.
(formerly COLT Telecom Group plc).  This rating action concludes
the review initiated on May 16.  Moody's said the ratings
outlook is stable.

The B2 corporate family rating reflects both the strengthened
financial profile that has resulted from the successful
completion of the company's recent equity offering as well as
the improvements in operational performance demonstrated by the
group over the past eighteen months.


COLT TELECOM: Confirms Redemption of 7.625% Senior Notes
--------------------------------------------------------
COLT Telecom Group S.A. confirmed that COLT Telecom Group
Limited has fully redeemed all of its outstanding 7.625% Senior
Notes due in 2008.

A request will be made to the Financial Services Authority for
the cancellation of the listing of these notes with effect from
Aug. 23.

As reported in TCR-Europe on July 25, COLT Telecom Group Limited
will redeem all of its outstanding 7.625% Senior Notes due 2008
at the principal amount of EUR250.4 million plus accrued
interest and will be funded out of COLT Limited's cash and
liquid resources.  

Headquartered in London, United Kingdom, Colt Telecom --
http://www.colt.net/-- offers business communication services  
across Europe.  Through its fiber optic network, the Company
offers voice, bandwidth, e-business and managed network services
to finance, industry and service sector customers and
governments.

                        *     *     *

As reported in TCR-Europe on Aug. 8, Standard & Poor's Ratings
Services raised its long-term corporate credit rating on
European business telecommunications provider COLT Telecom Group
Ltd. to 'B' from 'B-' and removed the ratings from CreditWatch,
where they were placed on Feb. 24.  S&P said the outlook is
stable.

The issue ratings on COLT's existing senior unsecured notes were
also raised to 'B' from 'B-' and removed from CreditWatch.
     
At the same time, Standard & Poor's assigned its 'B' long-term
corporate credit rating to COLT Telecom Group S.A., the new
ultimate parent of COLT.  S&P said the outlook is stable.

As reported in TCR-Europe on July 28, Moody's Investors Service
upgraded the rating of COLT Telecom Group Ltd.'s senior notes to
B2 from B3 following the successful completion of the equity
offering by COLT Telecom Group S.A.  Concurrently Moody's
assigned a B2 corporate family rating to COLT S.A. and removed
the B3 corporate family rating of COLT Telecom Group Ltd.
(formerly COLT Telecom Group plc).  This rating action concludes
the review initiated on May 16.  Moody's said the ratings
outlook is stable.

The B2 corporate family rating reflects both the strengthened
financial profile that has resulted from the successful
completion of the company's recent equity offering as well as
the improvements in operational performance demonstrated by the
group over the past eighteen months.


CONNECT 360: Brings In Administrators from Herron Fisher
--------------------------------------------------------
Christopher Herron and Nicola Jayne Fisher of Herron Fisher were
appointed joint administrators of Connect 360 Limited (Company
Number 4422802) on Aug. 7.

The administrators can be reached at:

         Herron Fisher
         Capital Business Centre
         22 Carlton Road
         Croydon
         Surrey CR2 0BS
         United Kingdom
         Tel: 07956 640156

Headquartered in Reading, United Kingdom, Connect 360 Limited
develops software.


CONNOLLY ASBESTOS: David Acland Leads Liquidation Procedure
-----------------------------------------------------------
David Acland of Begbies Traynor was appointed Liquidator of
Connolly Asbestos Removal Limited on July 27 for the purposes of
the creditors' voluntary winding-up procedure.

The company can be reached at:

         The Stoneyard
    Coach Road
    Church
    Accrington
    Lancashire BB5 0ED
    United Kingdom
    Tel: 01254 301 731
    Web: http://www.connollydemolition.co.uk/


DAFFODIL HOLDINGS: Appoints Administrators from Ernst & Young
-------------------------------------------------------------
S. Allport and I. Best of Ernst & Young LLP were appointed joint
administrators of Daffodil Holdings Limited (Company Number
4268041) on Aug. 4.

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.

Daffodil Holdings Limited can be reached at:

         Bridge Mills
         Stramongate
         Kendal
         Cumbria LA9 4UB
         United Kingdom


DEEMAC TRAINING: Claims Filing Period Ends Aug. 31
--------------------------------------------------
Creditors of Deemac Training Services Limited, which is being
voluntarily wound up, are required, on or before Aug. 31, to
send in their full names, their addresses and descriptions, full
particulars of their debts or claims, and the names and
addresses of their Solicitors (if any) to appointed Liquidator
C. H. I. Moore of K.J. Watkin & Co. at:

         C. H. I. Moore
    K.J. Watkin & Co.
    Emerald House
    20-22 Anchor Road
    Aldridge
    Walsall
    West Midlands WS9 8PH
    United Kingdom

The company can be reached at:

         Deemac Training Services Limited
    20 Birmingham Road
    Walsall WS1 2LT
    United Kingdom
    Tel: 01922 647 444
    Web:  http://postgrad-dentistry.bham.ac.uk/


DISPLAYLAND LIMITED: Appoints Liquidator from Debtmatters Ltd.
--------------------------------------------------------------
Ian Nigel Millington of Debtmatters Ltd. was appointed
Liquidator of Displayland Limited on July 26 for the purposes of
the creditors' voluntary wind-up.

The company can be reached at:

         Displayland Limited
    15 James Way
    Bletchley
    Milton Keynes MK1 1SU
    United Kingdom
    Tel: 01908 240 800


DJ HEWER: Names David N. Hughes as Administrator
------------------------------------------------
David N. Hughes of Janes was named administrator of DJ Hewer &
Co. Ltd. (Company Number 02694407) on Aug. 3.

The administrator can be reached at:

         Janes
         Owen House
         Trinity Lane
         Cheltenham
         Gloucestershire GL52 2NT
         Tel: 01242 701135
         Fax: 01242 701136
         E-mail: david@janesinsolvency.com

Headquartered in Gloucester, United Kingdom, DJ Hewer & Co. Ltd.
is engaged in plumbing and heating services.


DK GAS: Calls In Liquidator from Langley Group LLP
--------------------------------------------------
Alan Simon of Langley Group LLP was appointed Liquidator of
DK Gas Components Limited on July 28 for the purposes of the
creditors' voluntary winding-up proceeding.

The company can be reached at:

         DK Gas Components Limited
    34-36 Crossgate Road
    Park Farm Industrial Estate
    Redditch
    Worcestershire B98 7SN
    United Kingdom
    Tel: 01527 517 151


ELEPHANT PACKAGING: Names Richard Ian Williamson Liquidator
-----------------------------------------------------------
Richard Ian Williamson of Campbell Crossley and Davis was
appointed Liquidator of Elephant Packaging Limited on July 24
for the purposes of the creditors' voluntary winding-up.

The company can be reached at:

         Elephant Packaging Limited
    Wheelhouse Road
    Towers Business Park
    Rugeley
    Staffordshire WS151UZ
    United Kingdom
    Tel: 01889 577 740


FLOWER CELLAR: Taps Sharma & Co. as Administrator
-------------------------------------------------
Gagen Dulari Sharma of Sharma & Co. was appointed administrator
of The Flower Cellar Ltd. (Company Number 03592672) on Aug. 3.

The administrator can be reached at:

         Sharma & Co.
         50 Newhall Street
         Birmingham
         West Midlands B3 3QE
         United Kingdom
         Tel: 0121 248 5007
         Fax: 0121 248 5010
         E-mail: gagen@sharmaandco.com

The Flower Cellar Ltd. can be reached at:

         70 Albert Road
         Stechford
         Birmingham
         West Midlands B33 9AH
         United Kingdom


FORD MOTOR: Eyes Sale of Luxury Auto Brands to Investment Group
---------------------------------------------------------------
Ford Motor Co. is in talks to sell its Jaguar and Land Rover
brands led by its former CEO Jacques Nasser, Reuters reports
citing Bloomberg News as its source.

According to Bloomberg, the discussions are with JPMorgan Chase
& Co.'s One Equity Partners LLC, where Mr. Nasser is senior
partner for mergers and acquisition.

The talks, which don't involve Volvo, could result in a joint
venture rather than an outright acquisition, the report states.

In October 2001, Mr. Nasser was ousted as Ford's president and
CEO shortly after the company reported a US$692 million third
quarter loss on top of a loss the previous quarter, Reuters
relates.  

As reported in TCR-Europe on Aug. 22, Ford disclosed plans to
close more factories, cut more management jobs by another 10% to
30% and reduce benefits as it reels from a US$254 million net
loss for the second quarter of 2006.  The original plan called
for termination of 30,000 employees and shutting down of 14
plants by 2012.

                         About Ford Motor

Headquartered in Dearborn, Michigan, Ford Motor Company --
http://www.ford.com/-- is the world's third largest automobile   
manufacturer.  The Company manufactures and distributes
automobiles in 200 markets across six continents.  With more
than 324,000 employees worldwide, the company's core and
affiliated automotive brands include Aston Martin, Ford, Jaguar,
Land Rover, Lincoln, Mazda, Mercury and Volvo.  Its automotive-
related services include Ford Motor Credit Company and The Hertz
Corporation.

                         *     *     *

As reported in the Troubled Company Reporter on July 31, 2006,
Dominion Bond Rating Service lowered on July 21, 2006, Ford
Motor Company's long-term debt rating to B from BB, and lowered
its short-term debt rating to R-3 middle from R-3 high.

DBRS also lowered Ford Motor Credit Company's long-term debt
rating to BB(low) from BB, and confirmed Ford Credit's short-
term debt rating at R-3(high).

DBRS maintained a negative outlook for Ford Motor Company and
Ford Credit.

As reported in the Troubled Company Reporter on July 24, 2006,
Moody's Investors Service lowered the Corporate Family and
senior unsecured ratings of Ford Motor Company to B2 from Ba3
and the senior unsecured rating of Ford Motor Credit Company to
Ba3 from Ba2.  The Speculative Grade Liquidity rating of Ford
has been confirmed at SGL-1, indicating very good liquidity over
the coming 12 month period.  The outlook for the ratings is
negative.

As reported in the Troubled Company Reporter on June 12, 2006,
Fitch downgraded long-term ratings for both Ford Motor Company
and Ford Motor Credit Company with a Negative Rating Outlook,
and assigned these Recovery Ratings:

  Ford:

    -- Issuer Default Rating to 'B+' from 'BB'
    -- Senior unsecured to 'BB-/RR3' from 'BB'

  FMCC:

    -- Issuer Default Rating to 'B+' from 'BB'

Fitch also affirms FMCC's senior unsecured debt at 'BB/RR2'.

As reported in the Troubled Company Reporter on July 3, 2006,
Standard & Poor's Ratings Services lowered its corporate credit
rating on Ford Motor Co. and related units to 'B+' from 'BB-'
and affirmed its 'B-2' short-term rating.  The ratings were
removed from CreditWatch, where they were placed on May 25,
2006, with negative implications.  S&P said the outlook is
negative.


G. CLANCEY: Appoints KPMG as Joint Administrators
-------------------------------------------------
Mark Jeremy Orton and Allan Watson Graham of KPMG LLP were
appointed joint administrators of G. Clancey Limited (Company
Number 00366432) on Aug. 7.

KPMG -- http://www.kpmg.co.uk/-- in the U.K. is part of a  
strong global network of member firms with 9,500 partners and
staff working in 22 offices across the U.K. providing audit, tax
and advisory services.

Headquartered in Halesowen, United Kingdom, G. Clancey Limited
is engaged in iron casting.


GAGNON THERAPIES: Names Liquidator from Ashcrofts
-------------------------------------------------
Harjinder Johal of Ashcrofts was appointed Liquidator of Gagnon
Therapies Limited on July 28 for the purposes of the creditors'
voluntary winding-up.

The company can be reached at:

         Gagnon Therapies Limited
    67 Wigmore Street
    London W1U 1PY
    United Kingdom
    Tel: 020 7224 2332


GARDEN HOUSE: Hires Aileen Janes Crooks to Liquidate Assets
-----------------------------------------------------------
Aileen Jane Crooks of Deloitte & Touche LLP was appointed
Liquidator of Garden House Services Limited on July 26 for the
purposes of the creditors' voluntary winding-up.

The company can be reached at:

         Garden House Services Limited
    Suite U18
    South Fens Business Centre
    Fenton Way
    Chatteris
    Cambridgeshire PE16 6UP
    United Kingdom
    Tel: 01354 696656


GENEMEDIX PLC: May 31 Balance Sheet Upside-Down by GBP1.8 Mln
-------------------------------------------------------------
GeneMedix plc released its unaudited interim financial results
for the six months ended May 31, 2006.

In the six months ended May 31, 2006, GeneMedix reported net
loss of GBP2,798,913 compared with net loss of GBP2,700,204 in
the six months ended May 31, 2005.

At May 31, 2006, the Company's balance sheet showed a
stockholders' deficit of GBP1,793,953 compared with a
stockholders' equity of GBP1,404,937 at May 31, 2005.
The Company also experienced strained liquidity for the period
with GBP1,058,069 of current assets available to pay
GBP2,858,827 of liabilities within the year.

In the six months to May 31, GeneMedix continued to make good
progress in the development of its lead compound Epostim(R)
(Erythropoietin or EPO), and in its restructuring programme.
Expenditure is in line with forecasts, and there were no
revenues in the period.

As mentioned in its Aug. 7 press release, GeneMedix is in
temporary exclusive discussions with a major company, and is
receiving bridging payments to fund its on-going activities
whilst negotiations progress.  The Company also disclosed that
it had received a second cash in-flow on the sale of the Chinese
company, with the deal to be concluded over the coming months,
which will bring a total of approximately GBP1.6 million to the
Company.

The Directors are aware, as mentioned in previous financial
summaries in March and May 2006, that due to the recurring
losses in the business and the effect of long term debt
instruments which are held at book rather than redeemable value,
the Company is demonstrating, under the provisions of S142 of
the Companies Act, a serious loss of capital.   The Directors
have a duty to call an EGM to explain the reasons for this.   

As explained in the preliminary statements this situation has
arisen due to the inability under current accounting rules to
revalue a GBP4 million convertible loan, which the Company has
the option to unwind at about a quarter of its balance sheet
value.

In discussions with certain major shareholders on this issue the
consensus view still remains that the meeting should be held
once the Directors are in a position to give investors clearer
visibility regarding the future direction of the Company.  

As it is the intention of the Company to conclude its
restructuring program shortly with a transaction that will
require shareholder approval, an EGM has not yet been convened,
but should current negotiations with the major company not
progress or suffer any further delays, an EGM will be called
with immediate effect.

These accounts were due to be issued under IFRS, but due to
pragmatic considerations, and the fact that they are only
interim figures, the Directors do not believe that it is in the
best interest of the shareholders for the limited resources of
the Company to be focused on IFRS rather than on the current
potential transaction.

The Directors remain confident that there will be a satisfactory
conclusion to its restructuring program, but it must be clear
that, without continuing to receive cash inflows under the
temporary exclusivity arrangement and if the payments from China
are not received on a timely basis, the Company only has
sufficient resources to continue the current level of activity
for a maximum of two months as of press time.

                      About the Company
                    
Headquartered in the U.K., GeneMedix --
http://www.genedmedix.com/-- is a globally focused  
biopharmaceutical company, specializing in the development and
manufacture of cost effective treatments for some of the world's
most serious diseases.


GENTEK INC: Posts Second Quarter 2006 Financial Results
-------------------------------------------------------
GenTek Inc. generated US$223 million of revenues for the second
quarter ended June 30, 2006, and operating profit of US$16.8
million.  This compares to revenues of US$202.2 million and
operating profit of US$12.3 million in the prior-year period.

The Company's manufacturing and performance chemicals businesses
both contributed to the 10% sales increase, of which 6% was due
to increased copper prices.  Both businesses contributed to the
36% increase in operating profit.

The Company recorded income from continuing operations of US$4.2
million, compared to an income from continuing operations of
US$1.3 million in the second quarter of 2005.

For the six months ended June 30 2006, GenTek had revenues
totaling US$437.8 million and operating profit of US$29.9
million.  This compares to revenues of US$402.4 million and
operating profit of US$17.2 million for 2005.  The Company had
income from continuing operations of US$8.7 million in 2006,
compared to income from continuing operations of US$1.5 million
in the comparable prior-year period.

The increase in revenues in 2006 is attributable to the growth
in the performance chemical and the wire-harness businesses.  
Year over year operating profit improvement has been achieved in
both performance chemicals and manufacturing, driven by margin
improvements and reductions in selling, general and
administrative expenses.

The Company had US$11.9 million of cash and US$337 million of
debt outstanding as of June 30, 2006, and no borrowing
outstanding under its revolving credit facility.

"We are pleased with our current operating momentum and look to
build on this with our recently announced accretive acquisitions
in General Chemical and GT Technologies" said William E.
Redmond, Jr., GenTek's president and CEO.

A full-text copy of the Company's quarterly report is available
for free at http://researcharchives.com/t/s?105e

                           About GenTek

GenTek Inc. -- http://www.gentek-global.com/-- provides  
specialty inorganic chemical products and services for treating
water and wastewater, petroleum refining, and the manufacture of
personal-care products, valve-train systems and components for
automotive engines and wire harnesses for large home appliance
and automotive suppliers.  GenTek operates over 60 manufacturing
facilities and technical centers and has approximately 6,900
employees

                         *     *     *

In February 2005, Moody's Investors Service placed a B2 rating
on GenTek's US$60 million senior secured revolving credit
facility, due 2010, US$235 million senior secured term loan B,
due 2011.


GLASS MERCHANTS: Names Tony Mitchell as Administrator
-----------------------------------------------------
Tony Mitchell of Cranfield Recovery Limited was appointed
administrator of Glass Merchants Limited (Company Number
03072912) on Aug. 3.

The administrator can be reached at:

         Cranfield Recovery Limited
         2 Hawkes Drive
         Warwick
         Warwickshire CV34 6LX
         United Kingdom
         Tel: 01926 450414
         Fax: 01926 831126

Headquartered in Birmingham, United Kingdom, Glass Merchants
Limited shapes and processes glass.


HAWKSHEAD RETAIL: Brings In Ernst & Young to Administer Assets
--------------------------------------------------------------
S. Allport and I. Best of Ernst & Young LLP were appointed joint
administrators of Hawkshead Retail Limited (Company Number
4275873) on Aug. 4.

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.

Headquartered in Kent, United Kingdom, Hawkshead Retail Limited
-- http://www.hawkshead.com/-- retails clothing.


HCB ENERGY: Creditors' Claims Due Oct. 31
-----------------------------------------
Creditors of HCB Energy Limited, which is being voluntarily
wound up, are required, on or before Oct. 31, to send in their
full names, their addresses and descriptions, full particulars
of their debts or claims, and the names and addresses of their
Solicitors (if any) to appointed Liquidator Keith R. Morgan of
PKF (UK) LLP at:

         Keith R. Morgan
    PKF (UK) LLP
    18 Park Place
    Cardiff CF10 3PD
    United Kingdom

The company can be reached at:

    HCB Energy Limited
    Compass House
    Queen Alexandra Dock
    Cardiff
    South Glamorgan CF104LT
    United Kingdom
    Tel: 029 2049 8303


HELICENTRE LIMITED: Names Liquidator from Campbell Crossley
-----------------------------------------------------------
Richard Ian Williamson of Campbell Crossley and Davis was
appointed Liquidator of HeliCentre Limited on July 28 for the
purposes of the creditors' voluntary winding-up.

The company can be reached at:

         HeliCentre Limited
    Squires Gate Lane
    Blackpool Airport
    Blackpool
    Lancashire FY4 2QS
    United Kingdom
    Tel: 01253 343082


HERBALIFE LTD: Completes Redemption of US$165-Mln 9-1/2% Notes
--------------------------------------------------------------
Herbalife Ltd. completed the redemption of its outstanding
US$165 million aggregate principal amount of 9-1/2% Notes due
2011.

The Company disclosed, it used the proceeds from its new
US$200 million term loan to fund the redemption at the mandatory
price of approximately US$110.07 per US$100 aggregate principal
amount of Notes and to pay closing costs.

The Company has advised the Bank of New York of its election to
redeem the Notes in connection with the refinancing of its
former senior secured credit facility.  The Company also
disclosed that it expects to incur an after-tax one-time charge
of approximately US$14 million related to the refinancing,
representing the call premium on the Notes and the write-off of
unamortized deferred financing costs.  The Company's new debt
structure is comprised of a US$300 million senior secured credit
facility, consisting of a US$200 million, seven-year term loan
and a US$100 million, six-year revolving credit facility.

"This recapitalization is just another step towards
strengthening our overall capital structure, by improving our
flexibility to repay debt and reducing our annual interest
expense," Rich Goudis, chief financial officer, said.

The Company expects to realize the accretive benefit of the
recapitalization beginning in the fourth quarter of 2006.

Herbalife Ltd. (NYSE: HLF) -- http://www.herbalife.com/-- is a   
global network marketing company that sells weight-management,
nutritional supplements and personal care products intended to
support a healthy lifestyle.  Herbalife products are sold in 62
countries through a network of more than one million independent
distributors.  The company supports the Herbalife Family
Foundation -- http://www.herbalifefamily.org/-- and its Casa   
Herbalife program to bring good nutrition to children.

                           *     *     *

Standard & Poor's Ratings Services rated Herbalife Ltd.'s long-
term foreign and local issuer credit ratings at BB+.


HICKING PENTECOST: Claims Registration Ends Sept. 29
----------------------------------------------------
Creditors of Hicking Pentecost Textiles Limited have until
Sept. 29 to send details in writing of any claims against the
Company to appointed Liquidator Noel Lavery of Harbinson
Mulholland at:

         Noel Lavery
    Harbinson Mulholland
    IBM House
    4 Bruce Street
    Belfast BT2 7JD
    United Kingdom

The company can be reached at:

    Hicking Pentecost Textiles Limited
    64-66 Leighinmohr Avenue
    Ballymena
    County Antrim BT422AN
    United Kingdom
    Tel: 028 2565 6551


HOPATH CARPENTERS: Appoints Administrators from Grant Thornton
--------------------------------------------------------------
David Robert Thurgood and Martin Gilbert Ellis of Grant Thornton
U.K. LLP were appointed joint administrators of Hopath
Carpenters Limited (Company Number 03104524) on Aug. 1.

Headquartered in London, Grant Thornton U.K. LLP --
http://www.grant-thornton.co.uk/-- is the U.K. 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.  

Headquartered in Kent, United Kingdom, Hopath Carpenters Limited
is engaged in property refurbishment.


HYDE PARK: Taps Begbies Traynor as Joint Administrators
-------------------------------------------------------
G. N. Lee and P. Stanley of Begbies Traynor were appointed joint
administrators of Hyde Park Corner PLC (Company Number 03467628)
on Aug. 4.

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.  

Hyde Park Corner PLC can be reached at:

         61 63 Dowson Road
         Hyde
         Cheshire SK14 1QS
         United Kingdom
         Tel: 0161 368 3757


LEISURE MIDLANDS: Appoints Administrator from Irwin & Co.
---------------------------------------------------------
Gerald Irwin of Irwin & Company was named administrator of
Leisure Midlands Limited (Company Number 03194241) on July 31.

The administrator can be reached at:

         Irwin & Company
         Station House
         Midland Drive
         Sutton Coldfield
         Birmingham
         West Midlands B72 1TU
         United Kingdom
         Tel: 08700 111812
         Fax: 08700 111813
         E-mail: mail@irwinuk.net

Leisure Midlands Limited can be reached at:

         Kotwall House
         10 Ladywell Walk
         Birmingham
         West Midlands B5 4ST
         United Kingdom
         Tel: 0121 622 5700
         Fax: 0121 248 8810


JEWELLERY TRADE: Brings In David Field to Liquidate Assets
---------------------------------------------------------
David Field of Centrum Recovery was appointed Liquidator of
Jewellery Trade Centre Limited on July 17 for the purposes of
the creditors' voluntary winding-up.

The company can be reached at:

     Jewellery Trade Centre Limited
         Unit 2
     17-21 Warstone Lane
     Birmingham
     West Midlands B18 6JQ
     United Kingdom
     Tel: 0121 233 1030


KRONOS INT'L: Declares US$0.25 Per Share Quarterly Dividend
-----------------------------------------------------------
Kronos Worldwide Inc., the parent company of Kronos
International, disclosed that its board of directors has
declared a regular quarterly dividend of twenty-five cents
(US$0.25) per share on its common stock, payable on Sept. 22 to
stockholders of record at the close of business on Sept. 8.

Kronos Worldwide, Inc. is a major international producer of
titanium dioxide pigments.

                       About the Company

Kronos International Inc. -- http://www.kronostio2.com/-- is a  
wholly owned subsidiary of Kronos Worldwide, Inc., headquartered
in Dallas, Texas and produces titanium dioxide (TiO2) pigments
in Europe.

Kronos International Inc. conducts Kronos Worldwide's titanium
dioxide pigments operations in Europe.

                        *     *     *

As reported in TCR-Europe on Aug. 24, Standard & Poor's Ratings
Services lowered its corporate credit rating on Valhi Inc. and
its indirect subsidiary Kronos International Inc. to 'BB-' from
'BB'.  At the same time, Standard & Poor's lowered its rating on
Kronos' EUR400 million senior secured notes issue due 2013 to
'B' from 'B+'.  All ratings remain on CreditWatch with negative
implications, where they were placed earlier this year in
connection with an adverse verdict in a Rhode Island lead
pigment lawsuit.


LONG TERM: Creditors' Meeting Slated for September 13
-----------------------------------------------------
Creditors of Long Term Security (South) Limited (Company Number
04921367) will meet at 2:00 p.m. on Sept. 13 at:

         Russell Bedford House
         City Forum
         250 City Road
         London EC1V 2QQ
         United Kingdom

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at 12:00 noon on Sept. 12 at:

         Samuel Jonathan Talby and Jeremiah Anthony O'Sullivan
         Joint Administrators
         Bishop Fleming
         1 Barnfield Crescent
         Exeter
         Devon EX1 1QY
         Tel: 01392 278436
         Fax: 01392 413617
         E-mail: exeter@bishopfleming.co.uk

With offices in Bristol, Exeter, London, Plymouth, Torbay and
Truro, United Kingdom, Bishop Fleming --
http://www.bishopfleming.co.uk/-- is one of the biggest firms  
of Chartered Accountants for South West U.K. businesses that
demand expert accounting and financial accounts management.


M.J. TRAILERS: Creditors Confirm Voluntary Liquidation
------------------------------------------------------
Andrew Philip Wood and John Russell of The P&A Partnership were
appointed Joint Liquidators of M.J. Trailers Limited on July 21
on for the purposes of the company's voluntary winding-up.

The resolutions for the voluntary liquidation and the
appointment of the Joint Liquidators were confirmed at a meeting
of creditors held on the same day.

The company can be reached at:

    M.J. Trailers Limited
    52-54 Oswald Road
         Scunthorpe
    South Humberside DN157PQ
    United Kingdom
    Tel: 01469 577 543


MIDNIGHT FASHIONS: Calls In Liquidator from Mazars LLP
------------------------------------------------------
Martin Dominic Pickard of Mazars LLP was appointed Liquidator of
Midnight Fashions Limited on July 21 for the purposes of the
creditors' voluntary winding-up.

The company can be reached at:

         Midnight Fashions Limited
    Kingsway Indstrial Estate
    Kingsway
    Luton LU1 1LP
    United Kingdom
    Tel: 01582 391 854
    Web:  http://www.midnightfashions.co.uk/  
         http://www.pvc-clothing.biz/


MOLGROVE CONSTRUCTION: Taps Alan Bradstock to Liquidate Assets
--------------------------------------------------------------
Alan Bradstock of Langley Group LLP was appointed Liquidator of
Molgrove Construction Limited on July 25 for the purposes of the
creditors' voluntary winding-up.

The company can be reached at:

         Molgrove Construction Limited
    429 Willesden
    High Road
    London NW102JN
    United Kingdom
    Tel: 020 8965 7900


NORTHAMPTONSHIRE AUCTIONS: Hires Joint Liquidators from BRI
-----------------------------------------------------------
Gary Steven Pettitt and Peter John Windatt of BRI Business
Recovery and Insolvency were appointed Joint Liquidators of
Northamptonshire Auctions PLC on July 25 for the purposes of the
creditors' voluntary winding-up.

The company can be reached at:

         Northamptonshire Auctions PLC
    The Auction Centre
    Liliput Road
    Brackmills Industrial Estate
    Northampton NN4 7BY
    United Kingdom
    Tel: 01604 769 990


OFFICE SUPPLIES: Taps DSM Edwards to Liquidate Assets  
-----------------------------------------------------
DSM Edwards of Aaron & Partners LLP was appointed Liquidator of
The Office Supplies Network Limited on July 26 for the purposes
of the creditors' voluntary winding-up.

The company can be reached at:

         The Office Supplies Network Limited
    2 Salmon Fields Business Village
    Royton
    Oldham
    Lancashire OL2 6HT
    United Kingdom
    Tel: 0800 977 8254


OPASCO LIMITED: Appoints Joint Administrators from SFP
------------------------------------------------------
Simon Franklin Plant and Daniel Plant of SFP were appointed
joint administrators of Opasco Limited (Company Number 01131045)
on Aug. 3.

The administrators can be reached at:

         SFP
         9 Ensign House
         Admirals Way
         Marsh Wall
         London E14 9XQ
         United Kingdom
         Tel: 020 7538 2222  

Headquartered in Crawley, United Kingdom, Opasco Limited prints
and manufactures stationery.


GENTEK INC: Posts Second Quarter 2006 Financial Results
-------------------------------------------------------
GenTek Inc. generated US$223 million of revenues for the second
quarter ended June 30, 2006, and operating profit of US$16.8
million.  This compares to revenues of US$202.2 million and
operating profit of US$12.3 million in the prior-year period.

The Company's manufacturing and performance chemicals businesses
both contributed to the 10% sales increase, of which 6% was due
to increased copper prices.  Both businesses contributed to the
36% increase in operating profit.

The Company recorded income from continuing operations of US$4.2
million, compared to an income from continuing operations of
US$1.3 million in the second quarter of 2005.

For the six months ended June 30 2006, GenTek had revenues
totaling US$437.8 million and operating profit of US$29.9
million.  This compares to revenues of US$402.4 million and
operating profit of US$17.2 million for 2005.  The Company had
income from continuing operations of US$8.7 million in 2006,
compared to income from continuing operations of US$1.5 million
in the comparable prior-year period.

The increase in revenues in 2006 is attributable to the growth
in the performance chemical and the wire-harness businesses.  
Year over year operating profit improvement has been achieved in
both performance chemicals and manufacturing, driven by margin
improvements and reductions in selling, general and
administrative expenses.

The Company had US$11.9 million of cash and US$337 million of
debt outstanding as of June 30, 2006, and no borrowing
outstanding under its revolving credit facility.

"We are pleased with our current operating momentum and look to
build on this with our recently announced accretive acquisitions
in General Chemical and GT Technologies" said William E.
Redmond, Jr., GenTek's president and CEO.

A full-text copy of the Company's quarterly report is available
for free at http://researcharchives.com/t/s?105e

                           About GenTek

GenTek Inc. -- http://www.gentek-global.com/-- provides  
specialty inorganic chemical products and services for treating
water and wastewater, petroleum refining, and the manufacture of
personal-care products, valve-train systems and components for
automotive engines and wire harnesses for large home appliance
and automotive suppliers.  GenTek operates over 60 manufacturing
facilities and technical centers and has approximately 6,900
employees

                         *     *     *

In February 2005, Moody's Investors Service placed a B2 rating
on GenTek's US$60 million senior secured revolving credit
facility, due 2010, US$235 million senior secured term loan B,
due 2011.


PRAMIS WORLDWIDE: Gary Stones Leads Liquidation Procedure
---------------------------------------------------------
Gary Stones of Stones & Co. was appointed Liquidator of Pramis
Worldwide Limited on July 26 for the purposes of the creditors'
voluntary winding-up.

The company can be reached at:

         Pramis Worldwide Limited
    Lakeside Buildings
    Alexandra Park
    St. Helens
    Merseyside WA10 3TP
    United Kingdom
    Tel: 01744 759955


PREMIER PATIOS: Joint Liquidators Take Over Operations
------------------------------------------------------
Allan Cooper and John Russell of The P&A Partnership were
appointed Liquidators of Premier Patios Limited on July 26 for
the purposes of the company's voluntary winding-up.

The resolutions for voluntary liquidation and the appointment of
the Liquidators were confirmed at a meeting of creditors held on
the same day.

The company can be reached at:

         Premier Patios Limited
    Unit 14
    Westland Square
    Leeds
    West Yorkshire LS115SS
    United Kingdom
    Tel: 0113 270 0045


RABBITS OF LONDON: Appoints Salman Saud as Liquidator
-----------------------------------------------------
Salman Saud of Saud & Company was appointed Liquidator of
Rabbits of London Limited on July 25 for the purposes of the
creditors' voluntary winding-up.

The company can be reached at:

         Rabbits of London Limited
    13 Wych Elms
    Park Street
    St. Albans
    Hertfordshire AL2 2AR
    United Kingdom
    Tel: 01727 768 191


RANK GROUP: Disposes Clermont Club for GBP31 Million in Cash
------------------------------------------------------------
Rank Group PLC's subsidiary, Grosvenor Casinos Limited agreed to
sell the Clermont Club to BIL Gaming Operations U.K. Ltd., a
wholly owned subsidiary of BIL International Ltd., for GBP31
million in cash under an agreement signed on Aug. 24.

The Clermont Club, one of London's best-known casinos, is
situated at 44 Berkeley Square in the capital's West End.  Rank
acquired the Clermont Club in 1990 as part of the purchase of
Mecca Leisure Limited.

"The sale of the Clermont Club is in line with our strategy of
focusing on the mainstream gaming market, where we believe there
is most to gain from changes to U.K. gambling regulations," Ian
Burke, chief executive of Rank disclosed.

"We are pleased to acquire the famous Clermont Club.  Our
subsidiary, BIL Gaming Operations U.K. Ltd., has made a number
of casino applications in London and other U.K. cities.  Along
with Clermont, we intend to progressively expand our casino
operations in United Kingdom," Arun Amarsi, chief executive of
BIL International Ltd. expressed.

                        About Rank Group

Headquartered in London, Rank Group PLC -- http://www.rank.com/
-- is an international leisure and entertainment company.  The
Group provides services to the film industry, including film
processing, video duplication and cinema exhibition.  The
Group's leisure and entertainment activities entail gambling
services, encompassing Mecca Bingo Clubs and Grosvenor Casinos,
and owned and franchises Hard Rock cafes.

                        *     *     *

On March 6, 2006, Moody's Investors Service assigned a Ba2
corporate family rating to The Rank Group Plc and concurrently
downgraded the senior unsecured long-term debt ratings of Rank
Group Finance Plc (guaranteed by The Rank Group Plc) to Ba2 from
Baa3).

At the same time, Fitch Ratings downgraded The Rank Group PLC's
Long-term Issuer Default rating and Senior Unsecured ratings to
BB- from BB+ and removed them from Rating Watch Negative.  A
Negative Outlook is assigned.  The Short-term rating is affirmed
at B.  The downgrade follows the disposal of its film processing
business, Deluxe Film, and confirmation of a return of capital
to shareholders announced in conjunction with its 2005
preliminary results.

In addition, Standard & Poor's Ratings Services lowered its
long- and short-term corporate credit ratings on U.K.-based
diversified leisure and entertainment company The Rank Group PLC
to 'BB-/B' from 'BBB-/A-3'.  S&P said the outlook is stable.


REFCO INC: Chapter 7 Trustee Gets Nod to Wind Down Refco Trading
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
gave Albert Togut, the Chapter 7 trustee for Refco, LLC's
estate, authority to complete a wind-down and dissolution of
Refco Trading Services, LLC's business operations in accordance
with Delaware laws.

As reported in the Troubled Company Reporter on Aug. 4, 2006,
Refco Trading was formed in 2003 when Refco, Inc., acquired
United Kingdom-based MacFutures, a day-trading business engaging
in commodity futures and options.

Refco Trading followed a similar model to MacFutures and became
Refco LLC's proprietary trading subsidiary.  Most Refco Trading
employees traded using accounts funded by Refco LLC, and only a
few workers had any customer accounts.

Like the Refco Trading proprietary accounts, any third-party
customer accounts were settled on a daily basis to the extent
that the business day would rarely, if ever, end with Refco
Trading having any open trade positions, Scott E. Ratner, Esq.,
at Togut, Segal & Segal LLP, in New York, relates.

Before the Petition Date, Refco Trading had over 100 employees
and business operations in Montreal, Canada; Chicago, Illinois;
and Miami, Florida.  Refco Trading hired employees, trained them
using a proprietary training system, and provided an account
with which to trade. Most of the employees were paid a flat
salary and traded on an account that was settled on a daily
basis.

The traders also received profit percentages of successful
trades as additional remuneration.  Consistent with their
Acquisition Agreement, Man Financial, Inc., has hired most or
all of Refco Trading's former employees.

Refco Trading ceased all trading operations after the Petition
Date.

Refco Trading currently holds approximately US$1,600,000 in
cash.  

The company's liabilities are uncertain, but Mr. Togut believes
that there may be intercompany obligations.  Refco Trading
participated in an intercompany cash management system that paid
the company's obligations to outside sources and repaid the
obligations with intercompany receivables.  Mr. Togut also
believes that there may be liabilities to Canadian taxing
authorities.

Specifically, Mr. Togut proposes to direct certain actions as
are necessary and appropriate to Refco Trading's dissolution and
wind-down, including:

   (a) preparation of accounting reports, statements of receipts
       and disbursements and income statements;

   (b) preparation, signing, and filing of any tax returns in
       the United States or Canada;

   (c) appearances before any governmental authority as may be
       necessary to effectuate a legal wind-down;

   (d) adjudication and resolution of any claims asserted
       against Refco Trading and authorization for payment of
       any allowed claims from Refco Trading's assets to the
       extent required by law; and

   (e) performing any other related tasks as may be necessary to
       effectuate a proper and legal wind-down and dissolution.

Mr. Togut also seeks to pay, without further Court order, all
necessary costs and expenses incurred in connection with the
wind-down, provided that any payments will be made from Refco
Trading's assets, and not those of Refco LLC's estate.

Furthermore, Mr. Togut asks Judge Drain for qualified immunity
from personal liability for his actions in furtherance of Refco
Trading's wind-down.

According to Mr. Togut, Refco LLC's ownership interest in Refco
Trading is an asset of its Chapter 7 estate.  To the extent that
Refco Trading is solvent, its remaining assets will inure to
Refco LLC's benefit.  Therefore, Refco Trading's wind-down and
dissolution pursuant to Delaware laws is consistent with Mr.
Togut's duty to "collect and reduce to money the property of the
estate" under Section 704(a)(1) of the Bankruptcy Code.

Considering that the scope of Refco Trading's assets and
liabilities are unknown, Mr. Togut insists that he must wind
down Refco Trading to determine whether there are any residual
assets that will flow to Refco LLC's estate.

                         About Refco Inc.

Based in 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 US$16.5 billion in assets and US$16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.

Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134).  Refco, LLC,
is a regulated commodity futures company that has businesses in
the United States, London, Asia and Canada.  Refco, LLC, filed
for bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.  Albert Togut, the chapter 7
trustee, is represented by Togut, Segal & Segal LLP.

On April 13, 2006, the Court appointed Marc S. Kirschner as
Refco Capital Markets Ltd.'s chapter 11 trustee.  Mr. Kirschner
is represented by Bingham McCutchen LLP.  RCM is Refco's
operating subsidiary based in Bermuda.

Three more affiliates of Refco, Westminster-Refco Management
LLC, Refco Managed Futures LLC, and Lind-Waldock Securities LLC,
filed for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y.
Case Nos. 06-11260 through 06-11262).  (Refco Bankruptcy News,
Issue No. 39; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


REFCO INC: Ch. 7 Trustee Wants Court OK on Document Sharing Pact
----------------------------------------------------------------
Refco, Inc., and its debtor-affiliates and Man Financial Inc.
entered into an acquisition agreement, dated as of November 13,
2005, and related buyer transition services agreement and seller
transition services agreement, in connection with the sale of
Refco, LLC's futures commission merchant business to Man.

The Court's orders authorizing the Debtors to enter into the
Acquisition Agreement and the Transition Services Agreements
establish obligations and procedures relating to Man and Albert
Togut, the Chapter 7 trustee overseeing the liquidation of Refco
LLC's estate, to obtain access to data, information and
documents held by the other party relating to Refco LLC's
business purchased by Man.

Since the closing of the Sale, both the Refco LLC Trustee and
Man have followed the protocol established by the Transition
Services Agreements, and have reached other informal protocols,
to obtain access to data, information and documents held by the
other party, and both parties anticipate that they will continue
to need access for the foreseeable future.

The Transition Services Agreements are due to expire by their
terms on Aug. 22, 2006 -- 270 days after the closing of the Sale
on Nov. 25, 2005.

Mr. Togut and Man have negotiated a more permanent arrangement
for the parties to gain access to data, information and
documents in the possession of the other party after the
expiration of the Transition Services Agreements, and to
formalize the protocols under which the parties have been
operating.

Mr. Togut seeks the Court's authority to enter into a facilities
management agreement with Man.

The salient terms of the Facilities Management Agreement are:

   (a) The Trustee will maintain documents and other information
       relating to Refco LLC's business prior to the Sale
       closing that were not part of the Acquired Assets and are
       in the possession or control of the Trustee, through the
       earlier of:

          (i) the date the Court enters an order or final decree
              closing Refco LLC's case;

         (ii) the date an Other Termination Event occurs; or

        (iii) the date the Court enters an order otherwise
              terminating the parties' obligations under the
              Facilities Management Agreement;

   (b) The Trustee will provide Man access to the Refco Records
       for:

          (i) the purpose of Man responding to any Information
              Request directed to Man;

         (ii) any other purpose reasonably related to Man's
              operation of the business and assets acquired from
              Refco LLC and its affiliates.  The Trustee will
              retrieve and provide to Man electronically copies
              of Refco e-mail upon written request from Man.

   (c) Man will maintain documents and other information
       relating to Refco LLC's business that were part of the
       Acquired Assets and are in the possession or control of
       Man through the Termination Date;

   (d) Man will provide the Trustee access to the Man Records
       for purposes of the Trustee:

          (i) responding to any Information Request directed to
              the Trustee or Refco LLC; or

         (ii) otherwise accessing, reviewing, retrieving or
              photocopying Man Records as the Trustee determines
              is necessary; and

   (e) Man will provide "Information Retrieval Services" to the
       Trustee to enable him to:

          (i) respond to any Information Request directed to the
              Trustee or Refco LLC; or

         (ii) otherwise access, review, retrieve or photocopy
              Records as the Trustee determines is necessary.

Each party will bear its own costs in obtaining access to the
party's Records.  However, Refco LLC will reimburse Man for the
costs arising from Man's employees or independent contractors
performing Information Retrieval Services at the effective
hourly rates of the employees or contractors performing those
services.

Man will reimburse Refco LLC for costs arising from the
Chapter 7 Debtor's employees retrieving and providing electronic
copies to Man of Refco E-mail at the effective hourly rates of
the employees performing those services.

Jerry L. Switzer, Esq., at Jenner & Block LLP, in Chicago,
Illinois, explains that the Refco LLC Trustee will require
access to the Records for purposes of responding to Information
Requests served on the Trustee or Refco LLC, and otherwise
administering the Chapter 7 Debtor's estate for the foreseeable
future.

Mr. Switzer notes that Mr. Togut needs Man to perform the
Information Retrieval Services because Refco LLC no longer has
any employees, except to the limited extent that employees of
the Chapter 11 Debtors are allocated on a part time basis to the
Chapter 7 Debtor.

                         About Refco Inc.

Based in 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 US$16.5 billion in assets and US$16.8 billion in debts
to the Bankruptcy Court on the first day of its chapter 11
cases.

Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134).  Refco, LLC,
is a regulated commodity futures company that has businesses in
the United States, London, Asia and Canada.  Refco, LLC, filed
for bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.  Albert Togut, the chapter 7
trustee, is represented by Togut, Segal & Segal LLP.

On April 13, 2006, the Court appointed Marc S. Kirschner as
Refco Capital Markets Ltd.'s chapter 11 trustee.  Mr. Kirschner
is represented by Bingham McCutchen LLP.  RCM is Refco's
operating subsidiary based in Bermuda.

Three more affiliates of Refco, Westminster-Refco Management
LLC, Refco Managed Futures LLC, and Lind-Waldock Securities LLC,
filed for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y.
Case Nos. 06-11260 through 06-11262).  (Refco Bankruptcy News,
Issue No. 39; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


REPLAY MUSIC: Names Graham Lindsay Down to Liquidate Assets
-----------------------------------------------------------
Graham Lindsay Down of BN Jackson Norton was appointed
Liquidator of Replay Music Limited on July 28 for the purposes
of the creditors' voluntary winding-up.

The company can be reached at:

         Replay Music Limited
    1 Ringswell
    Marshfield
    Chippenham
    Wiltshire SN148NX
    United Kingdom
    Tel: 01225 891 150


S & S DUCTWORKS: Hires Richard John Elwell to Liquidate Assets
--------------------------------------------------------------
Richard John Elwell of Elwell Watchorn & Saxton LLP was
appointed Liquidator of S & S Ductworks (Leicester) Limited on
for the purposes of the creditors' voluntary winding-up.

The company can be reached at:

         S & S Ductworks (Leicester) Limited
    36-38 The Half Croft
    Syston
    Leicester LE7 1LD
    United Kingdom
    Tel: 0116 260 8181


SJS DEVELOPMENTS: Appoints Joint Liquidators to Wind Up Business
----------------------------------------------------------------
Jeremiah Anthony O'Sullivan of Bishop Fleming and Colin A.
Prescott of Moore Stephens were appointed Joint Liquidators of
SJS Developments South West Limited on July 26 for the purposes
of the creditors' voluntary winding-up.

The company can be reached at:

         SJS Developments South West Limited
    The Stores
    Village Street
    Bishops Tawton
    Barnstaple
    Devon EX32 0DG
    United Kingdom
    Tel: 01271 370730


SPECIAL MOMENTS: Nominates Gary Stones as Liquidator
----------------------------------------------------
Gary Stones of Stones & Co. was nominated Liquidator of Special
Moments By Wendy Miles Limited on July 28 for the purposes of
the creditors' voluntary winding-up.

The company can be reached at:

         Special Moments By Wendy Miles Limited
    Morvern Works
    Church Street
    Briton Ferry
    Neath
    West Glamorgan SA112JP
    United Kingdom
    Tel: 01639 822 938


TGR RESOURCES: Brings In Liquidator from Tenon Recovery
-------------------------------------------------------
Duncan R. Beat of Tenon Recovery was appointed Liquidator of
TGR Resources Limited on July 26 for the purposes of the
company's voluntary winding-up.

The appointment was confirmed at a meeting of creditors held on
the same day.

The company can be reached at:

         TGR Resources Limited
    Woolwich Manor Way
    London E16 2NJ
    United Kingdom
    Tel: 020 7473 6466


WHISTON CARPETS: Nominates Liquidator from T H Associates
---------------------------------------------------------
Timothy John Hargreaves of T H Associates was nominated
Liquidator of Whiston Carpets Limited on July 28 for the
purposes of the creditors' voluntary winding-up.

The company can be reached at:

         Whiston Carpets Limited
    105 Whitegate Drive
    Blackpool
    Lancashire FY3 9BY
    United Kingdom
    Tel: 01253 393 788


WYLEY ROAD: Brings In Begbies Traynor as Administrators
-------------------------------------------------------
Robert Michael Young and John Kelly of Begbies Traynor were
appointed joint administrators of Wyley Road Limited (Company
Number 05064928) on Aug. 3.

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.  

Headquartered in Cheltenham, United Kingdom, Wyley Road Limited
manages real estate.


* 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                              (214)       1,756      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)
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       (64)         104      (15)
Schaltbau Hold            SLTG       (23)         144       (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)


HUNGARY
-------
NABI Rt.                  NABHY       (2)         229   (8,950)


ICELAND
-------
Decode Genetics Inc.      DCGN        (9)         229      141

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 Viaggi del
   Ventaglio S.p.A.       VVE.MI     (61)         487      (58)
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
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  (16,942)
Zil Auto                            (168)         409  (10,680)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Santana Motor S.A.                   (46)         223       41
Sniace S.A.                          (16)         136      (34)


SWITZERLAND
-----------
Wedins Skor
    Accessoarer AB                   (10)         139     (129)


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
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       (39)         567       (5)
Danka Bus System          DNK.L     (108)         540       34
Dawson Holdings           DWN.L      (12)         158      (19)
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)
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)
Imperial Chemical
   Industries Plc         ICI       (835)       8,881      (49)
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      (283)       1,159     (410)
Orange Plc                ORNGF     (594)       2,902        7
Park Group Plc            PKG.L       (5)         111      (13)
Partygaming Plc           PRTY       (46)         398     (110)
Premier Foods Plc         PFD.L      (31)       1,475       16
Probus Estates Plc        PBE.L      (28)         113      (49)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,134)       2,678      (45)
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)
UK Coal Plc               UKC        (25)         865      (62)
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.


                           *********

Each Tuesday edition of the TCR contains a list of companies
with insolvent balance sheets whose shares trade higher than
US$3 per share in public markets.  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.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com/

                           *********


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, Julybien Atadero, Carmel Zamesa
Paderog, and Joy Agravante, 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 * * *