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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

          Monday, October 30, 2000, Vol. 1, No. 123

                         Headlines


C Z E C H   R E P U B L I C

KOVOSVIT HOLOUBKOV: Bankrupt Machine Tool Manufacturer for Sale
STIVAL NAPAJEDLA:  Italian Firm Sells Stake in Shoemaking Company
NITROFERT: Seeks Support from Russia's Gazprom


I R E L A N D

QUINNS:  Grain Firm Moves to Appoint Liquidator
HARLAND & WOLFF: Troubled Shipyard Set to Win New Ferry Order


P O L A N D

PGNiG:  To Privatize, Net Loss Widens


P O R T U G A L

TAP-AIR: Government Expects Losses for Portuguese Carrier in 2000


R O M A N I A

BANCA AGRICOLA: Deadline for Privatization Extended to December


S P A I N

SOGECABLE: Reports 9-Month Loss Falls to 402 Mln Ptas


S W E D E N

ADCORE: To Post a Pre-Tax Loss of 99 Million Swedish Crowns
STADSFESTEN I UMEA:  Festival Company to Be Liquidated


U N I T E D   K I N G D O M

BURMAH CASTROL: 800 Million Pounds Fight for BP Chemicals Arm
CANTAB: Pressure from Directors Forces Chief to Quit
CREATIVE MANUFACTURING: Jensen Parts Firm Collapses
CREATIVE TOOLING: Jensen Parts Firm Collapses
CREATIVE GROUP: Holding Company Goes into Receivership

INDIGOVISION: Increases Operating Loss to 3.3 Million Pounds
KPMG (SSBA): Liquidation Proceedings
KPMG MIDLANDS: Liquidation Proceedings
KPMG NORTH EAST: Liquidation Proceedings
KPMG NORTH WEST: Liquidation Proceedings

L&P RUN OFF:  PIA Expels Investment Business
MG ROVER: Two Rover Directors Quit
MKU DEVELOPMENT: Liquidation Proceedings
MILLENIUM DOME: Dome Chiefs at a Loss Over Last Big Party
PROJECTPLAN (CONSTRUCTION): Liquidation Proceedings

QUINN & CLARKSON: Liquidation Proceedings
RED GALLEON: Liquidation Proceedings
REGAL COVER: PIA Expels Investment Business
TELEVILLAGE: Developer Slides 1 Million Pounds into Debt
TOMELY MARKETING: Liquidation Proceedings


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

KOVOSVIT HOLOUBKOV: Bankrupt Machine Tool Manufacturer for Sale
---------------------------------------------------------------
Kovosvit Holoubkov (KH) (Holoubkov, Czech Republic), a machine
tool manufacturer, will be sold to Weiler Werkzeugmaschinen (WW)
(Germany) by the end of Nov 2000, the Access Czech Republic
Business Bulletin reports this week. KH, which has debts of over
CEK 180 mil to its creditors, became bankrupt in January 2000
owing to insolvency. Its proceeds amount to over CEK 15 mil per
month compared to less than CEK 4 mil per month before the
bankruptcy order. KH has more than 200 employees. WW, which is
KH's largest customer, won a tender for KH over five other
bidders.


STIVAL NAPAJEDLA:  Italian Firm Sells Stake in Shoemaking Company
-----------------------------------------------------------------
The Italian company IPR has sold its 100 percent share in Czech
shoemaking company Stival Napajedla to the Czech Zlin-based
company Altec Invest, Hospodarske Noviny & World Reporter reports
this week. Altec plans to focus initially on resolving Stival's
high losses from previous years and achieve economic stability
for the company. Altec also wants to continue negotiating with
Stival's largest creditor, KONPO, about a phased reduction of the
Kc 1.3bn debt.


NITROFERT: Seeks Support from Russia's Gazprom
----------------------------------------------
The leader of debt-ridden fertilizer maker Nitrofert, Nikolai
Kutashov, has left for Russia to seek support from the company's
owner Gazprom, BNS & Euromoney noted earlier this week. While
Nitrofert's large creditors Eesti Gaas (Estonian Gas) and Eesti
Energia (Estonian Energy) are hoping to reach an agreement with
Nitrofert this week on repayment of debt, an aide to Kutashov
said the CEO was on a business trip to Gazprom in Russia at least
until the end of the week.

Gazprom is a major owner of Estonian Gas. The aide told BNS
Kutashov won't be back before the end of the week and could be
away even longer if he starts a new business trip right from
where he is now. The media-wary Kutashov last week refused to
answer to questions by BNS, saying he was too tired after a
nearly two-week business trip to Hungary. Estonian Gas CEO Aarne
Saar and Estonian Energy communication chief Erki Peegel said
that the two companies were close to an agreement with the
northeast Estonia-based chemical plant on debt repayment.

Nitrofert owes the national energy utility nearly 50 million
kroons (USD 2.68 mln) for electric energy, while its debt to the
gas supplier in the form of a floating charge stands at nearly 11
million kroons. Its debt to Uhispank, also in the form of
floating charge, amounts to seven million kroons. Order by
Nitrofert accounts for a quarter of the total some 800 million
cubic meter annual natural gas sales in Estonia and its
consumption of electric energy gives about five percent of the
annual sales of Eesti Energia, BNS & Euromoney said.


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

QUINNS:  Grain Firm Moves to Appoint Liquidator
-----------------------------------------------
Irish Independent noted yesterday that an application for the
appointment of a provisional liquidator to Quinns, a Co Kildare
grain merchant, alleged to have liabilities of more than 20
million pounds (euro 25.4 million) will be moved before the High
Court. Mr James Connolly SC, for the company -- Edward Kavanagh
(Maynooth), of Manor Mills, Maynooth, Co Kildare -- told Mr
Justice McCracken the firm was putting forward a scheme of
arrangement. He asked that the court should not appoint a
liquidator until the scheme was put before it.

The judge said that, subject to what he heard from the firm, it
seemed from papers before him this was an appropriate case for
appointment of a provisional liquidator but he would hear from
both sides before deciding. The application for the appointment
of a provisional liquidator was made by Mr John O'Donnell, for
Quinns of Baltinglass, Co Wicklow, a supplier to the firm which
claims to be owed 1 million pounds.

Mr O'Donnell said there was no question of receivership in the
situation. There was 20 million pounds in liabilities. He said
the company wanted to put forward a scheme of arrangement and it
claimed Quinns would do better under that scheme. But his clients
wanted to go ahead with the application for appointment of a
provisional liquidator.

It was being suggested the matter be put back but his clients
were concerned because of the state of affairs in Kavanaghs. Mr
Connolly said he was asking the court to look at the wider
picture. His client was contending that, in a liquidation, the
various creditors would get 38p in the pound while, under the
proposed scheme of arrangement, they would get 70p. Mr Justice
McCracken said it appeared, subject to what he heard from the
company, it would be in its interest to have a provisional
liquidator appointed.


HARLAND & WOLFF: Troubled Shipyard Set to Win New Ferry Order
-------------------------------------------------------------
Ananova reports this week that Belfast's Harland and Wolff
shipyard looks set to win an order for two new ferries. Tony
Blair, on a visit to Northern Ireland, is going to the yard ahead
of the announcement by the Ministry of Defence and a shipyard
insider said: "I think we will have some good news to report for
a change." A shipyard spokesman refused to comment on whether
they had been told they had secured part of the 1 billion pounds
order for six roll-on, roll-off ferries. He said: "We will have
to wait until after the ministry makes the announcement." Winning
the work will be vital for the yard which last month halved its
workforce when it made 600 workers redundant.

This week it reported third quarter losses of 11.1 million pounds
- much of it because of the redundancy costs. And it began a
court battle with a US company over 23 million pounds which it
says it is owed as a final payment for a sophisticated oil drill-
ship. Ananova said that the Texan company Global Marine went to
the High Court in London to appeal against an arbitration ruling
in September that it hand over the money. Cammel Laird Shipyards
in Birkenhead, Merseyside and on Tyneside are also in the running
to build some of the ferries. And workers from Govan on the Clyde
in Scotland were lobbying MPs at Westminster today as part of a
campaign to win new work and help safeguard jobs.


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

PGNIG:  To Privatize, Net Loss Widens
-------------------------------------
Poland's state-owned oil and gas monopoly PGNiG said its net loss
will double to PLZ 500 million (USD 106.4 million) this year as a
result of soaring costs which cannot be offset by state-regulated
gas prices, Reuters reports this week. PGNiG, set to be divided
and partially privatized starting from 2001. "A huge gap between
soaring costs of gas and fixed tariffs will result in a doubling
of our losses to some PLZ 500 million," said Andrzej Lipko, head
of the PGNiG.

Lipko said that average gas costs increased by 60 percent this
year, while government regulated prices limited potential gas
price increases to roughly 20 percent. Reuters reports that
Poland wants to partially privatize its oil and gas mammoth,
after breaking it up into one upstream company, four regional gas
distribution companies and one holding company responsible for
gas trade, transmission and storage.


===============
P O R T U G A L
===============

TAP-AIR: Government Expects Losses for Portuguese Carrier in 2000
-----------------------------------------------------------------
Reuters reports this week that the State carrier TAP-Air
Portugal, in which SAirGroup is due to take a 34-percent stake,
is set to lose more in 2000 than last year due to soaring world
oil prices, Planning Minister Jorge Coelho said. The airliner
originally forecast a loss of 10 billion escudos for 2000,
compared with 20 billion last year, and as recently as last month
denied the figure would climb above last year's figures. "TAP's
losses will be securely above 20 billion escudos, with the bulk
of this the result of a higher-than-expected rise in fuel costs,"
Coelho told a press conference. TAP said recently it was
considering raising its fares to cover the impact of surging fuel
costs.

Accordingly, Coelho predicted the European Commission would
shortly approve plans by SAirGroup, Swissair's holding company,
to take a stake in TAP. "The negotiations (with Brussels) have
reached their final stages and have more to do now with details
than with fundamental issues," he said. "There is no reason for
the Commission not to approve (this deal)." Under the deal, which
was first announced in February, SAirGroup could later lift its
holding in the Portuguese airliner to 39 percent.


=============
R O M A N I A
=============

BANCA AGRICOLA: Deadline for Privatization Extended to December
---------------------------------------------------------------
Reuters reports this week that Romania's Finance Ministry will
issue ROL 3.944 trillion in 30-month domestic bonds as part of
moves to reshape commercial bank Banca Agricola (BA) ahead of
privatization. It said the bonds would be injected into BA by the
State Ownership Fund (FPS), its majority owner, as participation
in a share capital increase. BA president Eugen Radulescu said
the cabinet would approve a USD 157 million capital injection
into the BA, to allow the bank to operate efficiently. The BA,
with a share capital of ROL 108 billion, posted a USD 60 million
loss last year.

According to government the interest payments on the Finance
Ministry's floating-rate bonds would be paid quarterly, with the
first payment date due on January 5, 2001. It said the bonds
would bear an interest rate equal to the yields offered by the
last 91-day state T-bills issue preceding the interest payments.
Reuters said that the sale of Banca Agricola, which has been
restructured over the past three years after revealing non-
performing loans, is a key necessity under Romania's accords with
Western lenders.

The U.S.-British consortium including State of Wisconsin/Regent
and Romanian American Enterprise Fund announced its bid to buy
and expand BA in a USD 200 million deal. The consortium intends
to acquire 99 percent of the bank, offering USD 30 million for
BA's purchase and an additional USD 170 million to expand the
bank's services. The deadline for BA's privatization was recently
extended to end-December.


=========
S P A I N
=========

SOGECABLE: Reports 9-Month Loss Falls to 402 Mln Ptas
-----------------------------------------------------
Cable TV company Sogecable reported on Thursday a nine-month
attributable loss of 402 million pesetas ($2 million), down from
a loss of 1.5 billion pesetas in the same period one year ago.
However, the group was back in the red, after posting a profit in
the first half. Sogecable said it had 106.1 billion pesetas net
turnover, up from 89,14 billion pesetas, Reuters reports this
week. Sogecable is 21 percent owned by grupo Prisa and 21 percent
by France's Canal Plus. Sogecable said its pay-TV channel Canal
Satelite Digital as of Thursday had one million subscribers up
from 959,688 at the end of September 2000.


===========
S W E D E N
===========

ADCORE: To Post a Pre-Tax Loss of 99 Million Swedish Crowns
-----------------------------------------------------------
Internet consulting group Adcore is expected to post a pre-tax
loss of 99 million Swedish crowns for the first nine months and a
92 million crown loss for the whole year according to a Reuters
poll of nine analysts yesterday.  Sales for the first nine months
were expected to come in at 898 million crowns and 1,392 million
for the whole year.


STADSFESTEN I UMEA:  Festival Company to Be Liquidated
------------------------------------------------------
Stadsfesten i Umea AB, the Swedish company that arranges
festivals in Umea, went into liquidation. The company cannot pay
debts of around SK1m following a large festival that took place
this summer. Entertainers are owed SKr400,000 of the payment.
Stadsfesten tried to avoid liquidation by applying for extra
funds from Umea council, but the application was rejected, Dagens
Nyheter & World Reporter reports this week.


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

BURMAH CASTROL: 800 Million Pounds Fight for BP Chemicals Arm
----------------------------------------------------------------
The Sunday Times reported last week that two leading private-
equity groups are vying to buy Burmah Castrol's chemicals
businesses from BP Amoco, in a deal that could be worth up to
800m pounds. Cinven and BC Partners are frontrunners in the
auction, which is being conducted by Credit Suisse First Boston.

The four chemicals businesses were put up for sale when BP bought
Burmah Castrol for its lubricants interests earlier this year in
a 3 billion pounds deal. Interest in the sale has been high and
bidders are understood to include a mix of trade and financial
buyers. A BP spokesman said: "There has been massive interest and
there is a large short list of potential buyers, both for the
whole business and the four component parts."

BP is understood to be considering the final short list and due
diligence on the companies will continue for another month. Final
bids will be made in December. A decision has yet to be made as
to whether the businesses will be sold as separate entities or
together, and this will depend on price. When BP bought Burmah
Castrol earlier this year it was interested only in the
lubricants side. The non-core specialty-chemicals businesses were
put up for sale because they did not fit with BP's existing
chemicals portfolio.


CANTAB: Pressure from Directors Forces Chief to Quit
----------------------------------------------------
Troubled biotechnology firm Cantab Pharmaceuticals has parted
company with its chief executive, Jurek Sikorski, just a week
after the failure of a genital warts vaccine sent its share price
plummeting by two thirds, The Guardian reports today. Mr Sikorski
resigned at a board meeting, following pressure from the
company's non-executive directors. Several major shareholders
blame Mr Sikorski for the Cambridge-based company's failure to
broaden its research pipeline through mergers or acquisitions. A
Cantab spokesman said: "This is a sad day for us in many
respects. But looking ahead, it gives us a fresh start and an
opportunity to rebuild confidence."

However, Cantab immediately attracted fresh criticism by
appointing controversial financier Jeremy Curnock Cook as its
executive deputy chairman, with a mandate to look out for deals.
A former manager of Rothschild's International Biotechnology
Trust, Mr Curnock Cook became embroiled in a share dealing
scandal over the summer. It emerged that he had been awarded
share options worth more than $750,000 (530,000 pounds) in
several companies in which IBT had invested.

One major investor in Cantab said: "I'm not sure the market will
view this as a positive step. Mr Curnock Cook comes with a
strange reputation if you look at his history." Mr Curnock Cook
has served as a non-executive director on Cantab's board for 10
years. The company said Nick Hart, its chief operating officer,
would become acting chief executive. The firm has asked Credit
Suisse First Boston to conduct a "strategic review", which will
examine the option of selling the business. Takeover talks with a
rival vaccine specialist, Peptide Therapeutics, collapsed last
month.


CREATIVE MANUFACTURING: Jensen Parts Firm Collapses
---------------------------------------------------
The Birmingham Post reports this week that two companies set up
to supply parts for Jensen Motors have gone into receivership and
left about 250 creditors owed pounds 800,000. The companies are
Creative Manufacturing Systems at Redditch and Creative Tooling
of Oswestry. The holding company Creative Group is also in
receivership. The companies were set up by Keith Rauer and Robin
Bowyer, who bought rights to the Jensen marque three years ago. A
sluggish manufacturing environment and a general air of
uncertainty led to customers, seeking cheaper parts, switching to
European suppliers. This had created accumulated losses and cash
flow problems when orders virtually dried up.

The collapse has already resulted in 35 out of 60 jobs being lost
at Oswestry which was bought two years ago to make body panels
for Jensen Motors. All 28 jobs have been lost at Redditch where
the new Jensen cars were designed. Mr Kim Rayment, one of the
joint receivers, said last night talks were underway with several
possible buyers for parts of the business, including the factory
at Oswestry where they were trying to finish the work in
progress.


CREATIVE TOOLING: Jensen Parts Firm Collapses
---------------------------------------------
Two companies set up to supply parts for Jensen Motors have gone
into receivership and left about 250 creditors owed pounds
800,000. The companies are Creative Manufacturing Systems at
Redditch and Creative Tooling of Oswestry. The holding company
Creative Group is also in receivership, Birmingham Post reports
this week. The companies were set up by Keith Rauer and Robin
Bowyer, who bought rights to the Jensen marque three years ago. A
sluggish manufacturing environment and a general air of
uncertainty led to customers, seeking cheaper parts, switching to
European suppliers. This had created accumulated losses and cash
flow problems when orders virtually dried up.

The collapse has already resulted in 35 out of 60 jobs being lost
at Oswestry which was bought two years ago to make body panels
for Jensen Motors. According to Birmingham Post, Mr Kim Rayment,
one of the joint receivers, said last night talks were underway
with several possible buyers for parts of the business, including
the factory at Oswestry where they were trying to finish the work
in progress.


CREATIVE GROUP: Holding Company Goes into Receivership
------------------------------------------------------
Two companies set up to supply parts for Jensen Motors have gone
into receivership and left about 250 creditors owed pounds
800,000. The companies are Creative Manufacturing Systems at
Redditch and Creative Tooling of Oswestry. The holding company
Creative Group is also in receivership, Birmingham Post reports
this week. The companies were set up by Keith Rauer and Robin
Bowyer, who bought rights to the Jensen marque three years ago. A
sluggish manufacturing environment and a general air of
uncertainty led to customers, seeking cheaper parts, switching to
European suppliers. This had created accumulated losses and cash
flow problems when orders virtually dried up.

Mr Kim Rayment, one of the joint receivers, said last night talks
were underway with several possible buyers for parts of the
business, including the factory at Oswestry where they were
trying to finish the work in progress.


INDIGOVISION: Increases Operating Loss to 3.3 Million Pounds
------------------------------------------------------------
Shares in IndigoVision are down 3 percent after the Internet
video company announced an increased operating loss of 3.3
million pounds for the year to July, compared with 1.5 million
pounds last time, Citywire noted earlier this week. IndigoVision
said that the increase was caused by higher investment in
technology and staff. The revenue figures were more attractive
turnover rose fivefold to 0.9 million pounds. IndigoVision has
developed technology for transmitting high-quality video over the
Internet.

The company also announced that a letter of intent had been
signed with a major chip manufacturer for a project involving
next generation chips with video capability. Full details of this
deal will be announced within the next two years, Citywire said.


KPMG (SSBA): Liquidation Proceedings
-------------------------------------
Company Name: KPMG (SSBA) Ltd
Company No: 3384263
Com. Business: Dormant
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: Peter J Rilett IPno: 5386
Firm Name: KPMG
Address: 100 Temple Street
City Postcode: Bristol BS1 6AG


KPMG MIDLANDS: Liquidation Proceedings
---------------------------------------
Company Name: KPMG Midlands Region Ltd
Company No: 2956018
Com. Business: Dormant
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: Peter J Rilett IPno: 5386
Firm Name: KPMG
Address: 100 Temple Street
City Postcode: Bristol BS1 6AG


KPMG NORTH EAST: Liquidation Proceedings
----------------------------------------
Company Name: KPMG North East Region Ltd
Company No: 2955997
Com. Business: Dormant
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: Peter J Rilett IPno: 5386
Firm Name: KPMG
Address: 100 Temple Street
City Postcode: Bristol BS1 6AG


KPMG NORTH WEST: Liquidation Proceedings
----------------------------------------
Company Name: KPMG North West Region Ltd
Company No: 2955983
Com. Business: Dormant
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: Peter J Rilett IPno: 5386
Firm Name: KPMG
Address: 100 Temple Street
City Postcode: Bristol BS1 6AG


L&P RUN OFF:  PIA Expels Investment Business
--------------------------------------------
The Personal Investment Authority (PIA) announced that it has
expelled the firm of L & P Run Off Ltd (formerly known as Bridge
Life & Pensions Ltd) of Indemnity House, Chatham Street,
Piccadilly, Manchester, M1 3AY. This firm is therefore no longer
authorized to conduct investment business, M2 Presswire reports
this week.

The firm is expelled on the grounds that it is no longer fit and
proper to conduct investment business because the firm no longer
meets PIA's financial resources requirement and because the Firm
has no competent registered individual. The Firm went into
liquidation on 11 February 1999. Thereafter, one or more of its
investors lodged claims with the Investors Compensation Scheme
(ICS) which declared the Firm "in default".

L & P Run Off Ltd was admitted to PIA membership on 1 August 1994
and is a Category B3 member. PIA Category B3 members are
authorised to arrange investment transactions and give investment
advice but not to handle clients' money or assets. The firm was
previously registered under the names of Bridge Insurance Brokers
(Life & Pensions) Ltd (November 1974 to February 1996) and Bridge
Life & Pensions Ltd (February 1996 to June 1998).

The expulsion will enable PIA's Pensions Unit to commence work on
the firm's remaining pensions review cases. Any cases identified
by the Pensions Unit as having resulted in loss will be passed to
the ICS for further analysis, and to the extent permitted under
the ICS' rules, payment of redress.


MG ROVER: Two Rover Directors Quit
----------------------------------
Two non-executive directors of car maker MG Rover have resigned
following speculation of boardroom splits over the future of the
company, Ananova reported on Thursday. Brian Parker and Terry
Whitmore tendered their resignations from the eight-man board of
the firm which was bought earlier this year from German car giant
BMW. MG Rover has been striving for weeks to deny press
speculation that the company could be sold. It has been announced
that MG Rover boss John Towers had accepted the resignations.

Mr Towers says he was sad the two men had been "forced" to resign
and expressed his gratitude for their help in achieving the
remarkable buyout from BMW. Some workers at the MG Rover plant at
Longbridge in Birmingham staged a demonstration to protest at
newspaper reports suggesting the future of the company was in
doubt.

Duncan Simpson, chief car industry negotiator for the Amalgamated
Engineering and Electrical Union, said: "This is the last thing
Rover needed but it is better to get rid of a cancer rather than
let it do permanent damage. "This shows that John Towers is still
committed to Rover and proves that he has the strong leadership
needed to make Rover a success. Hopefully this will put an end to
the recent speculative press reports which have not been
helpful."


MKU DEVELOPMENT: Liquidation Proceedings
-----------------------------------------
Company Name: MKU Development Ltd
Previous Name: Angloport Ltd
Company No: 2643039
Com. Business: Property Developer
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: David J Pallen IPno: 5317
Firm Name: Ernst & Young
Address: Rolls House 7 Rolls Building Fetter Lane
City Postcode: London EC4A 1NH


MILLENIUM DOME: Dome Chiefs at a Loss Over Last Big Party
---------------------------------------------------------
Scottish Daily Record reports this week that the cash-strapped
Millennium Dome organizers have offered the troubled attraction's
final night to top London club Ministry of Sound. The club will
stage a 12-hour New Year's Eve party for 16,000 young people in
the buildings around the Dome at Greenwich, south London, it was
announced this week. Ministry of Sound director Mark Rodol hit
back at questions about possible drug problems amid suggestions
the event would be little short of a rave. He replied: "We will
have highly qualified, experienced managers and security crews on
hand, and there'll be zero tolerance for anyone caught dealing
in, or taking, drugs." Dome chief Pierre-Yves Gerbeau said: "This
isn't about money, it's about having a special event to mark the
final day of the Dome."

According to Scottish Daily Record, tickets for the party went on
sale at pounds 35 each. There will be 37 DJs and chart act Artful
Dodger will appear. The Dome itself which has just had its best
weekend with 63,000 visitors - will close quietly at 6pm on
December 31 with a final performance of the Millennium Show. It
will be in stark contrast to the inaugural ceremony on Millennium
eve attended by hundreds of guests including the Queen and Tony
Blair. Mr Gerbeau explained: "We didn't want another VIP event it
would have been the wrong thing to do."


PROJECTPLAN (CONSTRUCTION): Liquidation Proceedings
----------------------------------------------------
Company Name: Projectplan (Construction) Ltd
Company No: 2297568
Com. Business: Building/Construction Services
Appointed on: 26/09/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: Andrew W Thompson IPno: 5807
Firm Name: The Thompson Partnership
Address: The Old Halsall Arms 2 Summerwood Lane
City Postcode: Halsall L39 8RJ


QUINN & CLARKSON: Liquidation Proceedings
------------------------------------------
Company Name: Quinn & Clarkson Stores Ltd
Company No: 3041729
Com. Business: General Commercial Co
Appointed on: 26/09/00
Type: Creditors
Appointed by: Members
Liquidators: Michael Chamberlain IPno: 8735
Firm Name: Chamberlain & Co
Address: Aireside House 24-26 Aire Street
City Postcode: Leeds LS1 4HT


RED GALLEON: Liquidation Proceedings
-------------------------------------
Company Name: Red Galleon Ltd
Company No: 3832701
Com. Business: Boat Sales
Appointed on: 26/09/00
Type: Creditors
Appointed by: Creditors and Members
Liquidators: Jamie Taylor IPno: 2748
Firm Name: Begbies Traynor
Address: The Old Exchange 234 Southchurch Road
City Postcode: Southend-on-Sea SS1 2EG


REGAL COVER: PIA Expels Investment Business
--------------------------------------------
The Personal Investment Authority (PIA) announced that it has
expelled the firm of Regal Cover Financial Planning Limited of
Ramsey House, 825 High Road, Finchley, London, N12 8UB. This firm
is therefore no longer authorized to conduct investment business,
M2 Presswire reports this week. The firm is expelled on the
grounds that it is no longer fit and proper to conduct investment
business because the firm no longer meets PIA's financial
resources requirement and because the Firm has no competent
registered individual. The Firm went into liquidation on 8
September 1999. Thereafter, one or more of its investors lodged
claims with the Investors Compensation Scheme (ICS) which
declared the Firm "in default".

Regal Cover Financial Planning Ltd was admitted to PIA membership
on 9 October 1995 and is a Category B3 member. PIA Category B3
members are authorized to arrange investment transactions and
give investment advice but not to handle clients' money or
assets. The firm was previously registered under the names of
Regal Cover Ltd (October 1987 to June 1989), Regal Cover
Financial Services Ltd (June 1989 to August 1993), Regal Cover
Financial Planning Ltd (August 1993 to April 1998) and Holbeach
Securities Ltd (April 1998 to July 1998).

The expulsion will enable PIA's Pension Unit to commence work on
the firm's remaining pensions review cases. Any cases identified
by the Pensions Unit as having resulted in loss will be passed to
the ICS for further analysis, and to the extent permitted under
the ICS' rules, payment of redress.


TELEVILLAGE: Developer Slides 1 Million Pounds into Debt
--------------------------------------------------------
Receivers have been called in at the world's first televillage,
hailed as the ultimate answer to modern living for computer
experts. Thirteen properties on the 39-home, award-winning scheme
in Crickhowell, Powys, have not been sold, leaving the developer
with debts of more than pounds 1 million. At the time of its
inception three years ago, the village was seen as a blueprint
for life on the information highway, The Daily Telegraph reports
this week.

The residents said they feared they would never have the
technology to enable them to work from home that first attracted
them to the scheme. The fibre optic cable that should have
connected all the houses has never been installed. David Diprose,
one of the estate's first residents, said: "It was such a
marvellous idea. It was a small town community in a rural setting
where people could do highly skilled jobs from home. "We are very
disappointed that the telecentre and fibre optic network have not
materialized after three years." But Ashley Dobbs, managing
director of the developer, Acorn Televillages, said he hoped to
continue the project. "We have met the receivers and are trying
to sort the matter out.


TOMELY MARKETING: Liquidation Proceedings
------------------------------------------
Company Name: Tomely Marketing Ltd
Company No: 3433092
Com. Business: Marketing Co
Appointed on: 26/09/00
Type: Members
Appointed by: Members
Liquidators: Alan Thompson IPno: 2861
Firm Name: Levy Gee
Address: 9 Portland Road Edgbaston



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