/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/040831.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Tuesday, August 31, 2004, Vol. 5, No. 172 Headlines G E R M A N Y BREMER FORMTEILE: Files for Bankruptcy GLOBEX HANDELSAGENTUR: Deadline for Filing Claims October 7 INFINEON TECHNOLOGIES: New CEO Takes over Helm Tomorrow K. BARKEY: Deadline for Filing Claims September 27 MBH MULLER: Files for Bankruptcy After Missing Debt Payment MID MEDIEN: Bankruptcy Proceedings Begin N.E.U.E THEATER: Exits Bankruptcy NORDEX AG: Nine-month Operating Loss Down 60% Year-on-year SCP GERMANY: Public Auction of Assets Set September 8 WESTLB AG: Tui Stake Could Fetch EUR900 Million, Says Report WESTLB AG: Terra Firma Snares Odeon Cinema Chain ZK ZEITARBEIT: Completes Distribution of Claims I T A L Y ALITALIA SPA: Italian Aviation Authority Recalls Fare Hike Order FIAT SPA: Pirates Volkswagen's Italian Head GIANNI VERSACE: Names Outsider as Chief Executive N E T H E R L A N D S ROYAL AHOLD: Supervisory Board Chairman Resigns ROYAL SHELL: Law Firm Mulls Auditors' Inclusion in Class Suit R U S S I A AGGREGATE FACTORY: Omsk Court Appoints Insolvency Manager AUTO-AGGREGATE: Under Bankruptcy Supervision HOTEL VORKUTA: Proofs of Claim Deadline Expires September 16 KOLYSHLEYSKY FACTORY: Deadline for Proofs of Claim September 16 KOSTENETSKY OPEN: Vladimir Court Opens Bankruptcy Proceedings MIASSKIY DAIRY: Creditors Have Until September 16 to File Claims NIZHNEVARTOVSKOYE BUILDING: Declared Insolvent NORTH: Insolvency Manager Takes over Helm NORTH STAR: Court Sets October 26 Hearing OIL PROCESSING: Penza Court Affirms Insolvency PECHORSKY FISH-BREEDING: Proofs of Claim Deadline September 16 PLANETA: Names Y. Romanov Insolvency Manager REM-STROY-DETAL: Gives Creditors Until Next Month to File Claims RUBBER TECHNICAL: Undergoes Bankruptcy Supervision Procedure U K R A I N E AMETIST: Names Oleksij Sisoyev Liquidator AUTO 11425: Proofs of Claim Deadline September 5 HARKIVLIFT: Under Bankruptcy Supervision INTRADE GROUP: Zaporizhya Court Opens Bankruptcy Proceedings KRASNE: Vinnitsya Economic Court Affirms Insolvency ODESA' BIRD: Under Bankruptcy Supervision PRISLUCHANSKE: Hmelnitskij Prescribes Bankruptcy Procedure SADKO: Bankruptcy Proceedings Begin TISSA: Kyiv Commences Bankruptcy Proceedings U N I T E D K I N G D O M ACADEMY BUSINESS: Sets General Meeting September 30 ACROBAT DISPLAYS: Liquidator to Present Report September 23 ANI CORPORATION: Final Report of Liquidator Out September 24 AYR UNITED: May Collapse Unless Creditors Approve CVA BEAR WEST: Members Agree to Wind up Business BEAUMONT PUBLISHING: Members, Creditors Meeting Set September 28 BRITISH ENERGY: Drafts Trading Expert David Pryde CEMENT MIX: Director Receives Six-year Ban COMMUNICATIONS TEAM: Creditors Meeting Set September 3 D & J ASSOCIATE: Members, Creditors Meeting Set September 22 FABPLAS LIMITED: Liquidator's Final Report Out September 28 FOULKES AND LIST: Director Responsible for Collapse Banned ILFORD IMAGING: Receivers Axe 330 Workers to Make Sale Viable INIFER POTTER: Begbies Traynor Hosting Members Final Meeting INTERNATIONAL IMPORT: Members Final Meeting September 27 ION AP: Biddy Factors Brings in Receiver from Tait Walker KENNAMETAL HERTEL: Appoints Liquidator from Stoy Hayward LAURENCE DYER: Mazars to Present Final Report September 30 MANCOR LTD.: Final Members Meetings September 23 MARK WARD: PwC to Give Final Liquidation Update September 27 MUNRADTECH LIMITED: Names HKM Administrator ON-TRAC: Creditors Meeting Set September 2 ORION FOOTWEAR: Hires Baker Tilly Liquidator POTTERS CHILDRENS: Business for Sale ROOSEVELT PARK: Members, Creditors Meeting September 21 SKYLIGHT LIMITED: Calls in Liquidator from Royce Peeling Green SPERO COMMUNICATIONS: Extraordinary Winding up Resolution Passed TDSE UK: Hires PricewaterhouseCoopers Liquidator U.K. TELCOM: Names Liquidator from Hurst Morrison Thomson UNIFURNACES (HOLDINGS): Sets General Meeting September 6 UNITED BISCUITS: Ratings Cut to 'B'; Outlook Stable VERTIGO CLADDING: Members, Creditors Meeting Set September 24 WIDNES PLANT: Members Pass Winding up Resolutions ZONEWEB LIMITED: Execs Get Temporary Ban from Holding Office * Large Companies with Insolvent Balance Sheets ********* ============= G E R M A N Y ============= BREMER FORMTEILE: Files for Bankruptcy -------------------------------------- Bremer Formteile GmbH applied for bankruptcy proceedings before the district court of Bremen on August 13. The filing automatically stayed all pending proceedings against the company. Creditors have until October 7 to register their claims with court-appointed provisional administrator Jan H. Wilhelm. Creditors and other interested parties are encouraged to attend the meeting on October 7, 2004 at the district court of Bremen at which time the administrator will present his first report of the insolvency proceedings. The court will examine creditors' claims on November 1, 2004 at 10:00 a.m. CONTACT: BREMER FORMTEILE GMBH Waterbergstr. 11, 28237 Bremen (AG Bremen, HRB 19088) vertr. D Jan H. Wilhelm Insolvency Manager Am Radeberg 1, 28717 Bremen Phone: 0421/178765 Fax: 0421/1787665 DISTRICT COURT OF BREMEN Saal 115, Gerichtshaus (Neubau) Ostertorstr. 25-31, 28195 Bremen GLOBEX HANDELSAGENTUR: Deadline for Filing Claims October 7 ----------------------------------------------------------- Globex Handelsagentur und Kapitalanlagen- Vermittlungsgesellschaft mbH applied for bankruptcy proceedings before the district court of Lubbecke on August 19. The filing automatically stayed all pending proceedings against the company. Creditors have until October 7 to register their claims with court-appointed provisional administrator Joachim Walterscheid. Creditors and other interested parties are encouraged to attend the meeting on October 28, 9:45 a.m. at the district court of Bielefeld at which time the administrator will present his first report of the insolvency proceedings. CONTACT: Globex Handelsagentur und Kapitalanlagen- Vermittlungsgesellschaft mbH Sparrow ways 5, 32278 Kirchlengern The Managers Kaola Rurup Amtsweg 92, 32609 Hullhorst Achim Rurup Buttendorfer Str. 249, 32609 Hullhorst Joachim Walterscheid, Insolvency Manager Am Kurpark 2, 32545 Bad Oeynhausen The District Court of Bielefeld Court street 6, 33602 Bielefeld, 4th plain, Hall 4065 INFINEON TECHNOLOGIES: New CEO Takes over Helm Tomorrow ------------------------------------------------------- Wolfgang Ziebart will become Chief Executive Officer at Infineon Technologies effective September 1, taking over the ambitious plans of his predecessor. The Financial Times says Mr. Ziebart, former deputy head of tire maker Continental, faces a tough job of keeping the company profitable after years of continued losses. The market for its product is slow-growing, while investments required to stay ahead in the fast-moving electronics industry is high. There is recently an upturn in demand, but analysts say this could be short-lived. Mr. Ziebart must keep the costs of producing the D-Ram chips -- used for computer memory that generates 40% of Infineon's sales -- low. He must also handle delicately his relationship with Infineon's highly critical board, and balance pursuit of growth and profitability. His predecessor, Ulrich Schumacher, had hoped to make Infineon the world's fourth largest and second-most profitable chipmaker. The report said the plan could force the company's management to consider potentially radical changes in the coming years. Infineon expects to post earnings for this financial year ending September of EUR500 million before interest and tax. Discounting EUR212 million in provisions for potential fines related to price-fixing investigations, what is left is small compared to investment requirements to keep its technology up- to-date. According to the report, experts expect global chip sales to rise by more than a quarter this year but much less rapidly in 2005; some forecast a slight reduction for 2006. CONTACT: INFINEON TECHNOLOGIES AG St.-Martin-Str. 53 81669 Munich, Germany Phone: +49 89 234 0 Fax: +49 89 234 2 84 82 Web site: http://www.infineon.com K. BARKEY: Deadline for Filing Claims September 27 -------------------------------------------------- K. Barkey Gesellschaft applied for bankruptcy proceedings before the district court of Dortmund on August 20. The filing automatically stayed all pending proceedings against the company. Creditors have until September 27 to register their claims with court-appointed provisional administrator Dr. Winfrid Andres. Creditors and other interested parties are encouraged to attend the meeting on October 29, 2004 at 9:00 a.m. at the district court of Dortmund at which time the administrator will present his first report of the insolvency proceedings. CONTACT: K. BARKEY GESELLSCHAFT Lindemannstr. 13 44137 Dortmund Dr. Winfrid Andres Insolvency Administrator Neuer Zollhof 3 40221 Dusseldorf DISTRICT COURT OF DORTMUND Gerichtsplatz 1, 44135 Dortmund II. Etage Saal 3.201 MBH MULLER: Files for Bankruptcy After Missing Debt Payment ----------------------------------------------------------- MBH Muller Baustoff-und HolzgroBhandlung GmbH applied for bankruptcy proceedings before the district court of Erfurt on August 18 after defaulting on debt repayments. The procedure was initiated upon the filing of a request on June 3, 2004. The filing automatically stayed all pending proceedings against the company. Creditors have until October 13 to register their claims with court-appointed provisional administrator Rechtsanwalt BloB. Creditors and other interested parties are encouraged to attend the meeting on October 27, 2004, 9:00 a.m. at the district court of Erfurt at which time the administrator will present his first report of the insolvency proceedings. CONTACT: MBH MULLER BAUSTOFF-UND HOLZGROBHANDLUNG GMBH Hinter dem Wahle 99439 Berlstedt Rechtsanwalt Blob Insolvency Administrator Charlottenstr. 7, 99096 Erfurt DISTRICT COURT OF ERFURT Justizzentrum, Rudolfstr. 46, 99092, Saal 6 MID MEDIEN: Bankruptcy Proceedings Begin ---------------------------------------- MID Medien Informationsdesign GmbH applied for bankruptcy proceedings before the district court in Dortmund on August 20, 2004. The filing automatically stayed all pending proceedings against the company. Creditors have until September 28 to file their claims with provisional insolvency administrator Dr. Winfried Andres. Creditors and other interested parties are encouraged to attend a meeting on November 9, 2004, 10:20 a.m. at the district court of Dortmund at which time the administrator will present his first report of the insolvency proceedings. CONTACT: MID Medien Informationsdesign GmbH Friedensstr. 41-43, 44139 Dortmund Stephanie Ebenau, MID Medien Manager Am Wasserturm 54, 45527 Hattingen Dr. Winfrid Andres, Insolvency Administrator Neuer Zollhof 3, 40221 Dusseldorf Phone: 0211/69076969 Fax: 69 07 69-70 The District Court of Dortmund Gerichtsplatz 1, 44135 Dortmund, II. Etage, Saal 3.201 N.E.U.E THEATER: Exits Bankruptcy --------------------------------- The district court of Bochum concluded the insolvency proceeding of N.e.U.e Theater Verwaltungsgesellschaft Bochum mbH following the final distribution of claims to creditors. N.e.U.e sets up theaters using IMAX technology. CONTACT: N.E.U.E THEATER VERWALTUNGSGESELLSCHAFT BOCHUM MBH ViktoriastraBe 29, 44787 Bochum Hans-Georg Rehs, Manager Grafin-Imma-StraBe 83 44797 Bochum NORDEX AG: Nine-month Operating Loss Down 60% Year-on-year ---------------------------------------------------------- In the first three quarters of the current fiscal year (October 1, 2003 to June 30, 2004) the positive trend in Nordex AG's new business stabilized further. Order receipts increased by 43% to EUR169 million year-on-year (previous year: EUR118 million). Here Nordex has grown above all in international terms. Today, some 60% of new orders come from abroad (previous year: 30%). The trend towards large turbines is also continuing. Almost two-thirds of new business is accounted for the new Nordex N80/N90 series. In spite of the larger order intake, at approximately EUR156 million, revenues were 16% down on the previous year (EUR186 million). The main reasons for this development are longer lead times due to the increased international business and the higher amount of big turbines. In addition to this, since July 2003 Nordex only reports a major part of the project revenues after the turbines have been installed in the wind farm. In the third quarter of fiscal 2003/2004 too, earnings were above projections. After nine months the loss before interest and taxes (EBIT) came to EUR19.4 million (previous year: EUR48.9 million), equivalent to a year-on-year decrease of losses of around 60%. This improvement in earnings can be attributed above all to the drop in the cost-of-materials ratio from 90 to 79%. Nordex succeeded in cutting personnel expenditure by 17% to EUR26.1 million (previous year EUR31.4 million), net other operating expenses and income by as much as 42% to EUR16.7 million (previous year: EUR28.6 million). These cost reductions are the result of an extensive restructuring program that the Group has been implementing since July 2003. The overall target is to achieve an improvement in earnings of EUR72.5 million in 2005. To date Nordex has implemented some 74% of these measures and the program is going to be completed by the end of the year. As a result of high payments for preliminary work on new projects in the past quarter, liquidity is more or less balanced in the current financial year. Free cash flow was -EUR0.9 million (previous year: -EUR93.7 million). This can be attributed principally to the company's strict working capital management, according to which the production of orders is not commenced until shortly before the installation date. A further prerequisite is the receipt of a deposit of around 20%. However, the need to place orders for ongoing projects resulted in the expected utilization of liquidity in the third quarter. In the fourth quarter of the current fiscal year Nordex will not be able to fully compensate for the drop in revenues resulting from the strict working capital management. For this reason the company is reducing its revenue projection for fiscal 2003/2004 to EUR205 million. Due to the better-than-planned progress made in restructuring in the current fiscal year, Nordex is also reaffirming its earnings forecast of -EUR28 million in spite of a lower volume of business. Nordex plans to return to profit territory in the course of fiscal 2005. CONTACT: NORDEX A.G. Bornbarch 2 22848 Norderstedt Germany Web site: http://www.nordex-online.com Ralf Peters Public Relations/Investor Relations Phone: ++49-40-500 98 100 Fax: ++49-40-500 98 333 E-mail: rpeters@nordex-online.com SCP GERMANY: Public Auction of Assets Set September 8 ----------------------------------------------------- Karner & Co. GmbH sets for public auction the assets of SCP Germany GmbH on September 8, 2004, 11:00 a.m. at Carl-Benz- Strasse 10, 72124 Pliezhausen, Germany. For sale are approximately 700 new and well-kept items, which include wood and metal processing machinery, high quality metrology devices, machinery and tools for plastic pipe processing, forklift, small tools and vehicle fleet. The assets can be inspected on September 7, 2004, from 9:00 a.m. to 5:00 p.m. and on the auction day from 8:00 a.m. to 10:30 a.m. at Carl-Benz-Strasse 10, 72124 Pliezhausen, Germany. Clearing of small items can be done during and after the auction, until 5:00 p.m. Other items can be cleared on September 9 and 10, 2004 from 9:00 a.m. to 5:00 p.m. CONTACT: KARNER & CO. GMBH Phone: +49 (0) 6136 7544 0 Fax: +49 (0) 6136 7544 29 E-mail: contact.karner@goindustry.com WESTLB AG: Tui Stake Could Fetch EUR900 Million, Says Report ------------------------------------------------------------ German bank WestLB AG is set to sell its one-third stake in Europe's biggest travel group in what is potentially a EUR900 million deal, the Financial Times report. The company's chief executive officer, Thomas Fischer, said the management is "in serious talks" regarding the future of Tui and that negotiations have been going on for some time. Mr. Fischer declined to comment on whether the potential buyer is a Spanish hotel chain as rumored, but referred to them as "strategic investors." Industry officials think Spain's Riu Hotels, a long-time associate of Tui, is the likely buyer. The disposal is part of WestLB's drive to clean up its balance sheet and sell large shareholdings, after racking up EUR4 billion in losses over the past two years. WestLB is also in talks to sell its 95% stake in metals trader Klockner & Co. According to the report, acquisition of the whole stake would trigger a takeover offer for the whole of Tui under German law, but Mr. Fischer suggested he could still command a premium to the share price by selling between 25 and 30%. CONTACT: WESTLB AG Herzogstrasse 15 40217 Dusseldorf, Germany Phone: +49 211 826 01 Fax: +49 211 826 6119 Web site: http://www.westlb.com Lunn Poly (TUI UK) Columbus House Westwood Way Westwood Business Park Coventry CV4 8TT Phone: +44 (0) 24 7628 2828 Fax: +44 (0) 24 7628 2838 WESTLB AG: Terra Firma Snares Odeon Cinema Chain ------------------------------------------------ Private equity firm Terra Firma Capital Partners emerged as the winner in the auction of cinema chain Odeon, which is 45% owned by German bank WestLB AG, according to Reuters. Terra Firma competed against New York-based Blackstone Group LP, and property investor Robert Tchenguiz for the acquisition of one of Britain's largest cinema chains. Financial details of the transaction were not provided, but it was previously expected the deal could fetch more than GBP380 million. Iranian property investor Robert Tchenguiz had offered GBP360 million for the business, but shareholders turned it down. Terra Firma also simultaneously acquired rival cinema chain UCI from U.S. media companies Viacom and Vivendi Universal. CONTACT: WESTLB AG Dusseldorf Head Office Herzogstrabe 15 40217 Dusseldorf Phone: (0211) 826-01 Fax: (0211) 826-6119 E-mail: info@westlb.de Munster Head Office Friedrichstrabe 1 48145 Munster Phone: (02 51) 412-01 Fax: (02 51) 412 2921 E-mail: info@westlb.de ZK ZEITARBEIT: Completes Distribution of Claims ----------------------------------------------- The district court of Duisburg has cancelled the insolvency procedure on ZK Zeitarbeit Karnath GmbH following the final distribution of claims to creditors. CONTACT: ZK ZEITARBEIT KARNATH GMBH Kammerstr. 86, 47057 Duisburg Utmar Karnath, Manager Neukoellner Str. 7 45699 Herten ========= I T A L Y ========= ALITALIA SPA: Italian Aviation Authority Recalls Fare Hike Order ---------------------------------------------------------------- Ente Nazionale per I'Aviazione Civil (ENAC), the Italian civil aviation authority, scrapped its order requiring Alitalia rivals to raise fares on Italian flights, the Associated Press says. ENAC cancelled the move on condition that other countries do not impose similar requirements on Alitalia. ENAC announced its decision after holding talks with Alitalia officials and consumer groups, which had opposed the move. British Airways earlier lodged a complaint with the European Union against ENAC's action, claiming the order was illegal and unfair. The European Commission had earlier criticized Italy, but admitted the government has the legal right to impose requirements of such nature, as provided for in old bilateral treaties. Other E.U. member countries have in the past used similar powers, although the clause on prices is rarely imposed. Chief executive Giancarlo Cimoli has been trying to make unions agree with his proposed restructuring plan, which is a condition for the release of the EUR400 million state-guaranteed bridging loan. The 62% government-owned carrier has been trying to survive cutthroat competition from discount carriers and big players. On Thursday, the airline admitted missing its July and August sales targets as performance on domestic flights slumped. CONTACT: ALITALIA S.p.A. Viale A. Marchetti 111 00148 Rome, Italy Phone: +39 06 6562 2151 Fax: +39 06 6562 4733 Web site: http://www.alitalia.it FIAT SPA: Pirates Volkswagen's Italian Head ------------------------------------------- Fiat S.p.A. is to hire Volkswagen AG's chief in Italy to help it increase car sales in Europe. Bloomberg News, citing Italian daily Il Sore 24 Ore, says Italy's largest manufacturer is set to appoint Johann Wohlfarter to head its sales department beginning October. Mr. Wohlfarter is chief executive of Autogerma, Volkswagen's Italian unit. A spokesman for Fiat declined to comment on the report. Fiat Chief Executive Officer Sergio Marchionne's in July said the company's car division is suffering from an "under- developed" dealer network and a "dysfunctional and unaccountable" organizational structure. Fiat Auto aims to raise its Western European market share by 0.8 percentage points to 8.2% in 2007 from 7.4% last year. It also wants its share of Italy's car market to reach 30.5% in 2007 from 28% in 2003. CONTACT: FIAT S.p.A. 250 Via Nizza 10126 Turin, Italy Phone: +39 011 686 1111 Fax: +39 011 686 3798 Web site: http://www.fiatgroup.com GIANNI VERSACE: Names Outsider as Chief Executive ------------------------------------------------- Fashion house Versace S.p.A. has appointed Giancarlo Di Risio as chief executive officer, the first outsider to occupy the post in the Milan-based company. The former chief executive of Fendi will take over the post from interim chief Daniele Ballestrazzi. The latter will become director general. The family-controlled firm also appointed to its board Marco Salomoni, former board member of rival fashion group Prada, Paolo Colombo and Massimo Cremona. Versace has been in trouble since the murder of its founder and namesake Gianni Versace seven years ago. In 2002, the firm reported a loss of EUR26.5 million (GBP18 million). It undertook a restructuring, which included the closures of stores, and the reduction of expenditure on catwalk shows. It even announced it aims to sell up to 30% of the company. It already named three Italian financial advisers to help it turn around its business. Currently, it is seeking minority investors, and is intent on improving sales, restructuring distribution network, and cutting back costs. Gianni Versace's niece Allegra Versace Beck holds 50% of the company. She inherited the shareholding on her 18th birthday last month. The other half of Versace is split between Gianni's sister Donatella and her brother Santo. CONTACT: GIANNI VERSACE S.p.A. Via Manzoni 38 20121 Milan, Italy Phone: +39 02 760 93 1 Fax: +39 02 760 04122 Web site: http://www.versace.it ===================== N E T H E R L A N D S ===================== ROYAL AHOLD: Supervisory Board Chairman Resigns ----------------------------------------------- Karel Vuursteen has decided to resign as Chairman of the Supervisory Board of Royal Ahold N.V. because of personal circumstances. He will remain a member of the Board until the next annual general meeting of shareholders to be held on May 18, 2005. Rene Dahan will act temporarily as Chairman of the Board. * * * Recently, Royal Ahold reported net income of EUR32 million (Q2 2003: net income EUR3 million) for the second quarter of 2004. Operating income was EUR169 million (Q2 2003: operating income EUR222 million); Net sales EUR12.3 billion, a decrease of 4.9% compared to Q2 2003. Net sales growth was 3.0% excluding currency impact and impact of divestments. Net cash flow before financing activities amounted to an outflow of EUR5 million (Q2 2003: net cash inflow before financing activities EUR399 million). CONTACT: ROYAL AHOLD N.V. Albert Heinjneweg 1 1507 EH Zaandam, The Netherlands Phone: +31 75 659 9111 Fax: +31 75 659 8350 Web site: http://www.ahold.com ROYAL SHELL: Law Firm Mulls Auditors' Inclusion in Class Suit ------------------------------------------------------------- Bernstein Liebhard & Lifshitz, the U.S. law firm that has lodged class action lawsuits against Royal Dutch Shell, is considering the inclusion of the oil giant's auditors in its amended complaint, Telegraph says. Stanley Bernstein, the senior partner in the law firm, said they are filing for an amended complaint in mid-September and are looking at the role of auditors KPMG and PricewaterhouseCoopers in the overbooking of Shell's reserves. Investors were shocked upon Shell's disclosure that it overstated its oil and gas reserves by around 25%. The class action, which has Bernstein Liebhard & Lifshitz as the "lead plaintiff" on behalf of investors, names a number of current and past Shell senior executives. Mr. Bernstein said his firm is trying to prove whether Shell's auditors have violated America's securities law. He also rejected the contention that the auditors cannot be held liable because they only audited Shell's financial accounts, which exclude the reserves. A KPMG spokesman commented, "KPMG believes it has behaved appropriately and accurately in our audit work at all times." Recently, the United Kingdom's Financial Services Authority and the United States Securities and Exchange Commission published their findings into overstatement of Shell's reserves. The regulators said Shell still made misleading announcements of its reserves despite warnings from 2000 to 2003. "We stand by the work undertaken by PwC," a spokeswoman of the auditor said after the FSA report was published. CONTACT: ROYAL DUTCH/SHELL GROUP OF COMPANIES Carel van Bylandtlaan 30 2596 HR The Hague, The Netherlands Phone: +31 70 377 9111 Fax: +31 70 377 3115 Web site: http://www.shell.com =========== R U S S I A =========== AGGREGATE FACTORY: Omsk Court Appoints Insolvency Manager --------------------------------------------------------- The Arbitration Court of Omsk region has commenced bankruptcy supervision procedure on OJSC Omsky Aggregate Factory. The case is docketed as K/E-97/04. Ms. A. Lyasman has been appointed temporary insolvency manager. Creditors are asked to submit their proofs of claim to 644010, Russia, Omsk-10, Kuybysheva Str. 81-103. A hearing will take place on November 2, 2004, 10:00 a.m. CONTACT: AGGREGATE FACTORY 644007, Russia, Omsk, Gertsena Str. 48 Ms. A. Lyasman Temporary Insolvency Manager 644010, Russia, Omsk-10, Kuybysheva Str. 81-103 AUTO-AGGREGATE: Under Bankruptcy Supervision -------------------------------------------- The Arbitration Court of Perm region has commenced bankruptcy supervision procedure on OJSC permsky factory Auto-Aggregate. The case is docketed as A50-14250/2004-B. Mr. O. Shelyakin has been appointed temporary insolvency manager. Creditors are asked to submit their proofs of claim to: (a) The Arbitration Court of Perm region 614000, Russia, Perm, Lunacharskogo Str. 3 (b) Temporary Insolvency Manager 614990, Russia, Perm, GSP, Geroyev Khasana Str. 7F, Office 323 (c) Auto-Aggregate 614016, Russia, Perm, Elkina Str. 14 A hearing will take place on November 5, 2004, 10:00 a.m. (local time) CONTACT: AUTO-AGGREGATE 614016, Russia, Perm, Elkina Str. 14 Mr. O. Shelyakin Temporary Insolvency Manager 614990, Russia, Perm, GSP, Geroyev Khasana Str. 7F, Office 323 The Arbitration Court of Perm region 614000, Russia, Perm, Lunacharskogo Str. 3 HOTEL VORKUTA: Proofs of Claim Deadline Expires September 16 ------------------------------------------------------------ The Arbitration Court of Komi republic has declared municipal unitary enterprise Hotel Vorkuta insolvent and introduced bankruptcy proceedings. The case is docketed as A29-8789/03-3B. Ms. T. Vaneyeva has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 167000, Russia, Komi republic, Syktyvkar, Kolkhoznaya Str. 3A. CONTACT: HOTEL VORKUTA Russia, Komi republic, Vorkuta, Tsentralnaya Str. 5 Ms. T. Vaneyeva Insolvency Manager 167000, Russia, Komi republic, Syktyvkar, Kolkhoznaya Str. 3A KOLYSHLEYSKY FACTORY: Deadline for Proofs of Claim September 16 --------------------------------------------------------------- The Arbitration Court of Penza region has commenced bankruptcy supervision procedure on OJSC Kolyshleysky factory Dried Non-fat Milk. The case is docketed as A49-4847/03-60b/10. Mr. S. Kochkurov has been appointed temporary insolvency manager. Creditors have September 16, 2004 to submit their proofs of claim to Russia, Penza, Suvorova Str. 111. CONTACT: DRIED NON-FAT MILK Russia, Penza, Kolyshley, Zavodskaya Str. 1 Mr. S. Kochkurov Temporary Insolvency Manager Russia, Penza, Suvorova Str. 111 KOSTENETSKY OPEN: Vladimir Court Opens Bankruptcy Proceedings ------------------------------------------------------------- The Arbitration Court of Vladimir region has declared OJSC Kostenetsky Open Pit insolvent and introduced bankruptcy proceedings. The case is docketed as A11-1846/2002-K1-94B. Mr. N. Kochugov has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 600024, Russia, Vladimir, Universitetskaya Str. CONTACT: KOSTENETSKY OPEN PIT 602359, Russia, Vladimir region, Selivanovsky region, Kostenets Mr. N. Kochugov Insolvency Manager 600024, Russia, Vladimir, Universitetskaya Str. Phone/Fax: 8 (0922) 430678 MIASSKIY DAIRY: Creditors Have Until September 16 to File Claims ---------------------------------------------------------------- The Arbitration Court of Chelyabinsk region has commenced bankruptcy supervision procedure on OJSC Miasskiy Dairy Factory. The case is docketed as A76-14829/00-34-284/33-5102/2/52-23. Mr. E. Babanov has been appointed temporary insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 454080, Russia, Chelyabinsk region, Post User Box 12592. CONTACT: MIASSKIY DAIRY FACTORY 456300, Russia, Chelyabinsk region, Miass, Akademika Pavlova Str. 8 Mr. E. Babanov Temporary Insolvency Manager 454080, Russia, Chelyabinsk region, Post User Box 12592 NIZHNEVARTOVSKOYE BUILDING: Declared Insolvent ---------------------------------------------- The Arbitration Court of Khanty-Mansiysky autonomous region has declared CJSC Nizhnevartovskoye Building Assembling Management insolvent and introduced bankruptcy proceedings. The case is docketed as A75-166-B/2004. Mr. A. Zhimarinsky has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 628605, Russia, Khanty-Mansiysky autonomous region, Tyumen region, Nizhnevartovsk, Druzhby Narodov Str. 6, Office 1. CONTACT: NIZHNEVARTOVSKOYE BUILDING ASSEMBLING MANAGEMENT Russia, Tyumen region, Nizhnevartovsk, Industrialnaya Str. 101 Mr. A. Zhimarinsky Insolvency Manager 628605, Russia, Khanty-Mansiysky autonomous region, Tyumen region, Nizhnevartovsk, Druzhby Narodov Str. 6, Office 1 NORTH: Insolvency Manager Takes over Helm ----------------------------------------- The Arbitration Court of Kursk region has declared OJSC auto- tech-centre North (TIN 4632017180) insolvent and introduced bankruptcy proceedings. The case is docketed as A35-4150/04 g. Mr. A. Shelest has been appointed insolvency manager. Creditors are asked to submit their proofs of claim to 305048, Russia, Kursk, Kosukhina Str. 5, Apartment 85. CONTACT: NORTH Russia, Kursk Mr. A. Shelest Insolvency Manager 305048, Russia, Kursk, Kosukhina Str. 5, Apartment 85 NORTH STAR: Court Sets October 26 Hearing ----------------------------------------- The Arbitration Court of Saint Petersburg and the Leningrad region has commenced bankruptcy supervision procedure on CJSC agricultural industrial complex North Star. The case is docketed as A56-16646/04. Mr. L. Cherches has been appointed temporary insolvency manager. Creditors are asked to submit their proofs of claim to 190121, Russia, Saint Petersburg, Angliysky Pr. 3, Office 205. A hearing will take place at 190121, Saint-Petersburg, Suvorovsky Pr., 50/52 on October 26, 2004, 11:30 p.m. CONTACT: NORTH STAR 188451, Russia, Leningrad region, Luzhsky region, Mezhozerny region Mr. L. Cherches Temporary Insolvency Manager 190121, Russia, Saint Petersburg, Angliysky Pr. 3, Office 205 OIL PROCESSING: Penza Court Affirms Insolvency ---------------------------------------------- The Arbitration Court of Penza region has declared LLC Oil Processing Factory insolvent and introduced bankruptcy proceedings. The case is docketed as A40-1725/04-46b/10. Mr. A. Eremkin has been appointed insolvency manager. Creditors have to submit their proofs of claim to Russia, Penza region, Zasechnoye, 5th location, Koltsevaya Str. 1. CONTACT: OIL PROCESSING FACTORY Russia, Penza, Ryabova Str. 31 Mr. A. Eremkin Insolvency Manager Russia, Penza region, Zasechnoye, 5th location, Koltsevaya Str. 1 PECHORSKY FISH-BREEDING: Proofs of Claim Deadline September 16 -------------------------------------------------------------- The Arbitration Court of Komi republic has declared OJSC Pechorsky Fish-Breeding Farm insolvent and introduced bankruptcy proceedings. The case is docketed as A29-8984/02-3B. Mr. E. Amon has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 167000, Russia, Komi republic, Syktyvkar, Pervomayskaya Str. 36- 4. CONTACT: PECHORSKY FISH-BREEDING FARM Russia, Komi republic, Pechora, building site of Pechorskaya State Regional Electric Power Station Mr. E. Amon Insolvency Manager 167000, Russia, Komi republic, Syktyvkar, Pervomayskaya Str. 36-4 PLANETA: Names Y. Romanov Insolvency Manager -------------------------------------------- The Arbitration Court of Novgorod region has declared OJSC Planeta insolvent and introduced bankruptcy proceedings. The case is docketed as A44-4269/03-S4-k. Mr. Y. Romanov has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 173020, Russia, Velikiy Novgorod, Khutynskyay Str. 5, Office 21. CONTACT: NORTH 173004, Russia, Velikiy Novgorod, Fedorovsky ruchey Str. 2/13 Mr. Y. Romanov Insolvency Manager 173020, Russia, Velikiy Novgorod, Khutynskyay Str. 5, Office 21 REM-STROY-DETAL: Gives Creditors Until Next Month to File Claims ---------------------------------------------------------------- The Arbitration Court of Leningrad region has declared OJSC Rem- Stroy-Detal insolvent and introduced bankruptcy proceedings. The case is docketed as A56-36075/03. Mr. M. Enukashvili has been appointed insolvency manager. Creditors have until September 16, 2004 to submit their proofs of claim to 191028, Russia, Saint-Petersburg, Gagarinskaya Str. 25, office 19. CONTACT: REM-STROY-DETAL 187650, Russia, Leningrad region, Boksitogorsk, Novaya Str. 1 Mr. M. Enukashvili Insolvency Manager 191028, Russia, Saint-Petersburg, Gagarinskaya Str. 25, Office 19 RUBBER TECHNICAL: Undergoes Bankruptcy Supervision Procedure ------------------------------------------------------------ The Arbitration Court of Pskov region has commenced bankruptcy supervision procedure on municipal unitary enterprise factory Rubber Technical Products. The case is docketed as A52/1415/2004/4. Mr. G. Fedorov has been appointed temporary insolvency manager. Creditors are asked to submit their proofs of claim to Russia, Pskov region, Velikiye Luki, Tretyey udarnoy Armii Str. 68. CONTACT: RUBBER TECHNICAL PRODUCTS: Russia, Pskov region, Velikiye Luki, Tretyey udarnoy Armii Str. 68 Mr. G. Fedorov Temporary Insolvency Manager Russia, Pskov region, Velikiye Luki, Tretyey udarnoy Armii Str. 68 ============= U K R A I N E ============= AMETIST: Names Oleksij Sisoyev Liquidator ----------------------------------------- The Economic Court of Sumi region declared LLC Ametist (code EDRPOU 31431078) insolvent and introduced bankruptcy proceedings on July 15, 2004. The case is docketed as 12/16-04. Mr. Oleksij Sisoyev (License Number AA 315441) has been appointed liquidator/insolvency manager. CONTACT: AMETIST 42400, Ukraine, Sumi region, Ohtirka, Pririchnij lane, 9 Mr. Oleksij Sisoyev Liquidator/Insolvency Manager Ukraine, Sumi region, Petropavlovska Str. 74, room 49 a ECONOMIC COURT OF SUMI REGION 40030, Ukraine, Sumi region, Ribalko Str. 2 AUTO 11425: Proofs of Claim Deadline September 5 ------------------------------------------------ The Economic Court of Donetsk region declared OJSC Auto Transport Enterprise 11425 (code EDRPOU 01527583) insolvent and introduced bankruptcy proceedings on June 23, 2004. The case is docketed as 15/50. Mr. Anatolij Dmitrichenko (License Number AA 540063 approved on November 25, 2003) has been appointed liquidator/insolvency manager. The company holds account number 26005302611172 at JSC Prominvestbank, Kujbishev branch, MFO 334408. Creditors have until September 5, 2004 to submit their proofs of claim to: (a) AUTO TRANSPORT ENTERPRISE 11425 83057Ukraine, Donetsk region, Veselij Avenue, 46 (b) Mr. Anatolij Dmitrichenko Liquidator/Insolvency Manager 83000, Ukraine, Donetsk region, Cheluskintsiv Str. 107/45 Phone: 345-42-72, 335-61-14 (c) ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 HARKIVLIFT: Under Bankruptcy Supervision ---------------------------------------- The Economic Court of Harkiv region commenced bankruptcy supervision procedure on Specialized Enterprise Harkivlift (code EDRPOU 30916414). The case is docketed as B-25/39-04. Arbitral manager Mrs. N. Ivleva (License Number AA 250463 approved on April 18, 2002) has been appointed temporary insolvency manager. The company holds account number 2600402314788 at CB Basis. Creditors have until September 6, 2004 to submit their proofs of claim to: (a) SPECIALIZED ENTERPRISE HARKIVLIFT Legal address: 61002, Ukraine, Harkiv region, Ivanov Str. 10 Mailing address: 61003, Ukraine, Harkiv region, Ilyinska Str. 61/98 (b) Mrs. N. Ivleva Temporary Insolvency Manager Ukraine, Harkiv region, S. Tarhov Str. 5/9 (c) ECONOMIC COURT OF HARKIV REGION 61022, Ukraine, Harkiv region, Svobodi square, 5, Derzhprom, 8th entrance INTRADE GROUP: Zaporizhya Court Opens Bankruptcy Proceedings ------------------------------------------------------------ The Economic Court of Zaporizhya region declared LLC Ukrainian- American Joint Enterprise Intrade Group (code EDRPOU 22950357) insolvent and introduced bankruptcy proceedings on July 19, 2004. The case is docketed as 20/77-19/28. Mrs. Olga Boldakova (License Number AA 315471 approved on August 30, 2002) has been appointed liquidator/insolvency manager. The company holds account number 2600804681 at JSB Metalurg, Zaporizhya branch, MFO 313582. CONTACT: UKRAINIAN-AMERICAN JOINT ENTERPRISE INTRADE GROUP 69050, Ukraine, Zaporizhya region, Kosmichna Str. 119 Mrs. Olga Boldakova Liquidator/Insolvency Manager 69104, Ukraine, Zaporizhya region, Malinovskij Str. 26a/117 Phone: (0612) 17-37-31 KRASNE: Vinnitsya Economic Court Affirms Insolvency --------------------------------------------------- The Economic Court of Vinnitsya region declared Agricultural LLC Krasne (code EDRPOU 00495154) insolvent and introduced bankruptcy proceedings on July 2, 2004. The case is docketed as 8/263-04. Mr. Valentin Osadchij (License Number AA 140460) has been appointed liquidator/insolvency manager. The company holds account number 26004365701 at JSB Energobank, Vinnitsya branch, MFO 302731. Creditors have until September 5, 2004 to submit their proofs of claim to: (a) AGRICULTURAL KRASNE 23116, Ukraine, Vinnitsya region, Pultivtsi (b) Mr. Valentin Osadchij Liquidator/Insolvency Manager 21036, Ukraine, Vinnitsya region, Hmelnitske shose, 7, room 731 Phone: 39-94-44 (c) ECONOMIC COURT OF VINNITSYA REGION 21036, Ukraine, Vinnitsya region, Hmelnitske shose, 7 ODESA' BIRD: Under Bankruptcy Supervision ----------------------------------------- The Economic Court of Odesa region commenced bankruptcy supervision procedure on LLC Odesa' Bird Combine (code EDRPOU 00443921) on June 11, 2004. Mr. Volodimir Shnyakin (License Number AA 783105 approved on April 23, 2004) has been appointed temporary insolvency manager. The company holds account number 2600431108 at JSB Pivdennij, Odesa branch, MFO 328209. Creditors have until September 6, 2004 to submit their proofs of claim to: (a) ODESA' BIRD COMBINE 67025, Ukraine, Odesa region, Kominternivskij district, Kulindorove, Kulindorovskij promvuzol, 19th kilometer of Starokijivskij Shlyah (b) Mr. Volodimir Shnyakin Temporary Insolvency Manager 65013, Ukraine, Odesa region, Shornomorskogo Kozatstva Str. 80 Phone: (048) 716-62-21 Fax: (048) 716-62-21 (c) ECONOMIC COURT OF ODESA REGION 65032, Ukraine, Odesa region, Shevchenko Avenue, 4 PRISLUCHANSKE: Hmelnitskij Prescribes Bankruptcy Procedure ---------------------------------------------------------- The Economic Court of Hmelnitskij region commenced bankruptcy supervision procedure on agricultural LLC Prisluchanske (code EDRPOU 31048388) on June 11, 2004. The case is docketed as 17/170-B. Arbitral manager Mr. Oleksandr Popaduk (License Number AA 250190 approved on January 10, 2002) has been appointed temporary insolvency manager. Creditors have until September 6, 2004 to submit their proofs of claim to: (a) AGRICULTURAL PRISLUCHANSKE Ukraine, Hmelnitskij region, Starokostyantinivskij district, Sahnivtsi (b) Mr. Oleksandr Popaduk Temporary Insolvency Manager Ukraine, Hmelnitskij region, Starokostyantiniv, Miru Str. 3/20-14 (c) ECONOMIC COURT OF HMELNITSKIJ REGION 29000, Ukraine, Hmelnitskij region, Nezalezhnosti square, 1 SADKO: Bankruptcy Proceedings Begin ----------------------------------- The Economic Court of Donetsk region declared LLC Agrarian- Production Enterprise Sadko (code EDRPOU 31000875) insolvent and introduced bankruptcy proceedings on June 2, 2004. The case is docketed as 31/197 B. Arbitral manager Mr. E. Pertsov (License Number AA 047749) has been appointed liquidator/insolvency manager. The company holds account number 26001301461235 at Prominvestbank, Amvrosiyivska branch of Donetsk Regional Department. CONTACT: AGRARIAN-PRODUCTION ENTERPRISE SADKO 87343, Ukraine, Donetsk region, Amvrosiyivska district, Biloyarivka, Miru Str. 1 Mr. E. Pertsov Liquidator/Insolvency Manager 83000, Ukraine, Donetsk region, Komsomolskij Avenue, 28/94 ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 TISSA: Kyiv Commences Bankruptcy Proceedings -------------------------------------------- The Economic Court of Kyiv region has declared LLC Tissa (code EDRPOU 31111590) insolvent and introduced bankruptcy proceedings. The case is docketed as 23/547-b. Arbitral manager Mr. Anatolij Gunko (License Number AA 520124 approved on June 11, 2003) has been appointed liquidator/insolvency manager. The company holds account number 26004160931 at JSB Andriyivskij, MFO 322863. CONTACT: TISSA Ukraine, Kyiv region, Lyaskov Str. 9 Mr. Anatolij Gunko Liquidator/Insolvency Manager Ukraine, Kyiv region, Brovari, Grushevskij Str. 17/55 ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard, 44-B =========================== U N I T E D K I N G D O M =========================== ACADEMY BUSINESS: Sets General Meeting September 30 --------------------------------------------------- The general meeting of the members of Academy Business Systems (UK) Ltd. will be on September 30, 2004 commencing at 10:00 a.m. It will be held at 60-62 Old London Road, Kingston upon Thames, Surrey KT2 6QZ. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the Liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Marks Bloom, 60-62 Old London Road, Kingston upon Thames, Surrey KT2 6QZ not later than 12:00 noon, September 29, 2004. CONTACT: MARKS BLOOM 60-62 Old London Road, Kingston upon Thames, Surrey KT2 6QZ Liquidator: Andrew John Whelan Phone: +44 (0) 20 85499951 Fax: +44 (0) 20 85496218 Web site: http://www.marksbloom.co.uk ACROBAT DISPLAYS: Liquidator to Present Report September 23 ----------------------------------------------------------- The general meetings of the members and creditors of Acrobat Displays Limited will be on September 23, 2004 commencing at 10:30 a.m. and 11:00 a.m. respectively. It will be held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meetings may appoint proxies. Proxy forms must be lodged with Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB not later than 12:00 noon, September 22, 2004. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Roderick Graham Butcher Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk ANI CORPORATION: Final Report of Liquidator Out September 24 ------------------------------------------------------------ The final general meeting of The Ani Corporation (UK) Limited will be on September 24, 2004 commencing at 10:00 a.m. It will be held at the offices of Ernst & Young, Cloth Hall Court, 14 King Street, Leeds LS1 2JN. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. CONTACT: ERNST & YOUNG Cloth Hall Court 14 King Street, Leeds LS1 2JN Liquidator: R H Kelly Phone: +44 [0] 113 298 2200 Fax: +44 [0] 113 298 2201 Web site: http://www.ey.com AYR UNITED: May Collapse Unless Creditors Approve CVA ----------------------------------------------------- Football club Ayr United is currently in dire need of a major shakeup to avoid bankruptcy. In a statement, the company said "the board is presently working with professional advisers to achieve implementation of specific measures required to overcome current difficulties and thereafter establish a viable business model. "Restructuring measures have already been partly implemented with staff reductions to reduce overheads. The co-operation of a number of affected parties, including existing staff, will be essential in the weeks ahead." Ayr called in accountant PKF two weeks ago to help in its restructuring effort. The second division football club is waiting for the approval of a creditors voluntary arrangement, which would see its lenders, including manager Campbell Money, receive a reduced portion of the amount they are owed. Ayr's other significant lender is the Inland Revenue, which is demanding full payment. Mr. Money, who is under contract until March 2006, is believed to be the major stumbling block to a deal, according to The Herald. He was called into an emergency board meeting two weeks ago and was asked to take a wage cut along with other members of the management team, or alternatively agree to work part-time. He reportedly rejected both proposals. The club's trouble began less than a year after construction giant Barr Holdings sold his majority 77% shareholding in the club to current chairman Donald Cameron. The club's accounts show it has been dependent on Barr for its generous spending on players. Barr spent more than GBP438,000 for "marketing, advertising and hospitality" for financial year 2002-2003 alone. This was when shareholders' funds stood at just GBP67,091. Ayr has yet to produce accounts for last season. Its revenues, according to a recent statement, has been badly affected by the its second division status. CONTACT: THE AYR UNITED FOOTBALL AND ATHLETIC CLUB LTD. Somerset Park, Somerset Road, Ayr, Ayrshire KA8 9NB Phone: 01292263435 BEAR WEST: Members Agree to Wind up Business -------------------------------------------- At an extraordinary general meeting of the Bear West Limited on August 13, 2004 held at Tomlinsons, St Johns Court, 72 Gartside Street, Manchester M3 3EL, the Resolutions to wind up the company were passed. Alan H Tomlinson of Tomlinsons, St John's Court, 72 Gartside Street, Manchester M3 3EL has been appointed as liquidator of the company for the purpose of such winding-up. CONTACT: TOMLINSONS St John's Court, 72 Gartside Street, Manchester M3 3EL Liquidator: A H Tomlinson Phone: 0870 60 70 170 Fax: 0870 60 70 180 E-mail: advice@tomlinsons.co.uk Web site: http://www.tomlinsons.co.uk BEAUMONT PUBLISHING: Members, Creditors Meeting Set September 28 ---------------------------------------------------------------- The final meetings of the members and creditors of Beaumont Publishing (Hove) Limited will be on September 28, 2004 commencing at 10:00 a.m. and 10:15 a.m. respectively. It will be held at the offices of Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meetings may appoint proxies. Proxy forms must be lodged with Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG not later than 12:00 noon, September 27, 2004. CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea, Essex SS1 2EG Liquidator: J Taylor Phone: 01702 467255 Fax: 01702 467201 Web site: http://www.begbies.com BRITISH ENERGY: Drafts Trading Expert David Pryde ------------------------------------------------- British Energy announced that David Pryde has been appointed as an Independent Non-executive Director of the company with effect from 1 September 2004. Mr. Pryde has extensive Trading and Risk Management experience. Having formerly headed precious metals trading in Asia for NM Rothschild and Sons Ltd. and Philipp Brothers Inc. he joined JP Morgan and Co Inc. in 1984 and subsequently held various senior management positions in trading businesses, including Global Head of Precious Metals Trading, Global Head of Commodity Derivatives Trading and Marketing and Global Head of Futures and Options Brokerage. He sat on the Boards of the Commodity Exchange, the Chicago Mercantile Exchange and the Futures Industry Association. Mr. Pryde, 54, was born in Stirling, Scotland and is currently resident in the U.S.A. Adrian Montague, Chairman of British Energy plc said: "British Energy faces significant challenges and the Trading Strategy is key to our future success. David Pryde's background and skills will be of great benefit to us in developing and implementing our Trading and Risk Management Strategies. I welcome him to the Board of British Energy." CONTACT: BRITISH ENERGY Andrew Dowler Phone: 020 7831 3113 (Media Enquiries) John Searles Phone: 01355 26 2202 (Investor Relations) Web site: http://www.british-energy.com CEMENT MIX: Director Receives Six-year Ban ------------------------------------------ The director of a business that operated as agents in industrial equipment has given an undertaking not to hold directorships or take any part in company management for six years. The undertaking by Malachy Joseph Quinn, of Hazelbrook, Malahide, Dublin, Republic of Ireland, and formerly of Devisdale Rd, Bowdon, Cheshire, was given in respect of his conduct as a director of Cement Mix Limited (formerly TEKA U.K. Limited until August 29, 2002), which carried out business from premises at St Mary's Studios, on St Mary's Road, in Bowdon, Cheshire. Acceptance of the undertaking on August 5, 2004 prevents Mr. Quinn from being a director of a company or, in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for the above period. Cement Mix Limited (formerly TEKA U.K. Limited) was placed into voluntary Liquidation on August 15, 2002 with estimated debts of GBP798,075 owed to creditors. Matters of unfit conduct, not disputed by Mr. Quinn, were: (a) He knew or ought to have known by the end of January 2002, at the latest, that Cement Mix Limited (formerly TEKA U.K. Limited) was unable to pay its debts as and when due, and that continued trading thereafter was at the risk of ultimately to the detriment of TEKA's creditors; and (b) He failed to ensure that TEKA maintained, preserved and delivered adequate accounting records to the Liquidator. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future. CONTACT: THE INSOLVENCY SERVICE 21 Bloomsbury Street London, WC1B 3QW Web site: http://www.insolvency.gov.uk Disqualification Unit Phone: 020 7291 6807 020 7291 6832 (Vetting) E-mail: Disqualification.Unit@insolvency.gsi.gov.uk Criminal Allegations Team Phone: 020 7291 6841 E-mail: criminal.allegations@insolvency.gsi.gov.uk COMMUNICATIONS TEAM: Creditors Meeting Set September 3 ------------------------------------------------------ IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Communications Team Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of Communications Team Ltd. will be held at 4 Dancastle Court 14 Arcadia Avenue London N3 2HS on September 3, 2004 at 2:00 p.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at Valentine & Co, 4 Dancastle Court 14 Arcadia Avenue London N3 2HS two business days prior to the meeting. By Order of the Board. M. Flanders, Director July 28, 2004 CONTACT: VALENTINE & CO. 4 Dancastle Court 14 Arcadia Avenue London N3 2HS Phone: 020 8343 3710 Fax: 020 9343 4486 Web site: http://www.valentine-co.com D & J ASSOCIATE: Members, Creditors Meeting Set September 22 ------------------------------------------------------------ The general meetings of the members and creditors of D & J Associate Meats Limited will be on September 22, 2004 commencing at 10:00 a.m. and 10:30 a.m. respectively. It will be held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB not later than 12:00 noon, September 21, 2004. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Roderick Graham Butcher Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk FABPLAS LIMITED: Liquidator's Final Report Out September 28 ----------------------------------------------------------- The final meeting of the members and creditors of Fabplas Limited will be on September 28, 2004 commencing at 11:00 a.m. and 11:15 a.m. respectively. It will be held at the offices of Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG not later than 12:00 noon, September 27, 2004. CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea, Essex SS1 2EG Liquidator: D P Hudson Phone: 01702 467255 Fax: 01702 467201 Web site: http://www.begbies.com FOULKES AND LIST: Director Responsible for Collapse Banned ---------------------------------------------------------- The director of a business, which fitted boat and house interiors, has been disqualified in the Peterborough County Court from acting as a company director for nine years. Dino List, 48, of Benwick Road, Whittlesey, Peterborough, was a director of Foulkes and List Limited, which carried on business from premises at 170 Park Road, Peterborough. Foulkes and List was initially placed into a Members Voluntary Liquidation in 1997 and subsequently converted to creditors voluntary liquidation on July 23, 2002 with estimated debts of GBP284,000 owed to its creditors. The Disqualification Order, made on August 19, 2004, prevents Dino List from being a director of a company or, in any way, whether directly or indirectly, being concerned in or taking part in the promotion, formation or management of a company for the nine years. Another director of Foulkes and List Limited, Albert Frank Foulkes of Upstreet, Canterbury, Kent, had previously given a disqualification undertaking to the Secretary of State for Trade & Industry for a period of six years. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future. Matters of unfit conduct, found by the Court, were that: (a) Mr. List caused the company to make payments to himself and his co-director amounting to GBP510,000 in circumstances where no adequate provision was made for payment of creditors, and despite assurances that these sums would be repaid to the company, none ever was; (b) Mr. List further failed, after the liquidation of the company in March 1997, to take all reasonable steps to assist successive liquidators in progressing the liquidation and made or authorized a false declaration of solvency in support of a Members Voluntary Liquidation of the company; (c) Mr. List misled successive liquidators as to the true financial position of the company and thereby attempted to influence the conduct of the affairs of the company to the detriment of the Inland Revenue as a major creditor. CONTACT: THE INSOLVENCY SERVICE 21 Bloomsbury Street London, WC1B 3QW Web site: http://www.insolvency.gov.uk Disqualification Unit Phone: 020 7291 6807 020 7291 6832 (Vetting) E-mail: Disqualification.Unit@insolvency.gsi.gov.uk Criminal Allegations Team Phone: 020 7291 6841 E-mail: criminal.allegations@insolvency.gsi.gov.uk ILFORD IMAGING: Receivers Axe 330 Workers to Make Sale Viable ------------------------------------------------------------- The receivers of insolvent Ilford Imaging U.K. Limited cut its workforce by around 330 to make the company attractive to potential buyers, Reuters reports. Grant Thornton, hired on August 23, said the redundancies were necessary to prevent further losses and improve the prospects of a sale. Grant Thornton said Friday, "The receivers' intention is to create a period of stability during which the sale of the business, with a restructured cost base, can be explored." Reuters cited Mark Bryers, one of the firm's joint receivers, as saying that without a sale, the British unit of Ilford would face an orderly wind-down. The company's sales for its monochrome photographic supplies, which are manufactured at its Mobberley site, dropped by 26% in the first half of 2004 while its Swiss ink-jet business continues to trade profitably. Ilford has blamed the booming digital camera market for the demise of its black-and-white film business. CONTACT: ILFORD IMAGING U.K. LTD. Town Lane, Mobberley Knutsford WA16 7JL Phone: 01565 650000 Fax: 01565 872734 Web site: http://www.ilford.com INIFER POTTER: Begbies Traynor Hosting Members Final Meeting ------------------------------------------------------------ The final meeting of the members of Inifer Potter & Son Trading Ltd. will be on September 30, 2004 commencing at 12:00 noon. It will be held at the offices of Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG not later than 12:00 noon, September 29, 2004. CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea, Essex SS1 2EG Liquidator: D P Hudson Phone: 01702 467255 Fax: 01702 467201 Web site: http://www.begbies.com INTERNATIONAL IMPORT: Members Final Meeting September 27 -------------------------------------------------------- The final meetings of the members of The International Import & Export Company Limited will be on September 27, 2004 commencing at 2:00 p.m. It will be held at the offices of PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street, Leeds LS1 4JP. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street, Leeds LS1 4JP not later than 12:00 noon, September 24, 2004. CONTACT: PRICEWATERHOUSECOOPERS LLP Benson House 33 Wellington Street Leeds LS1 4JP Joint Liquidators: Tim Walsh Jonathan Sisson Phone: [44] (113) 289 4000 Fax: [44] (113) 289 4460 Web site: http://www.pwcglobal.com ION AP: Biddy Factors Brings in Receiver from Tait Walker --------------------------------------------------------- Biddy Factors International Limited called in Gordon S Goldie and Allan D Kelly as joint administrative receivers for ION AP Limited (Reg No 03878686, Trade Classification: 25130). The application was filed August 20, 2004. The company manufactures other rubber products. CONTACT: TAIT WALKER Bulman House, Regent Centre, Gosforth, Newcastle upon Tyne NE3 3LS Joint Administrative Receivers: Gordon Smythe Goldie Allan David Kelly (Office Holder Nos 5799, 9156) Phone: 0191 285 0321 Fax: 0191 284 9117 E-mail: advice@taitwalker.co.uk Web site: http://www.taitwalker.co.uk KENNAMETAL HERTEL: Appoints Liquidator from Stoy Hayward -------------------------------------------------------- At an extraordinary general meeting of the Kennmetal Hertel Edg Limited Company on August 17, 2004 held at BDO Stoy Hayward LLP, 125 Colmore Row, Birmingham B3 3SD, the subjoined Special Resolution to wind up the company was passed. Christopher Kim Rayment of BDO Stoy Hayward LLP, 125 Colmore Row, Birmingham B3 3SD has been appointed liquidator for the purpose of such winding-up. CONTACT: BDO STOY HAYWARD LLP 125 Colmore Row, Birmingham B3 3SD Liquidator: Christopher Kim Rayment Phone: 0121 200 4600 Fax: 0121 200 4650 E-mail: birmingham@bdo.co.uk Web site: http://www.bdo.co.uk LAURENCE DYER: Mazars to Present Final Report September 30 ---------------------------------------------------------- The final meetings of the members and creditors of Laurence Dyer Financial Planning Limited will be on September 30, 2004 commencing at 11:30 a.m. and 11:45 a.m. respectively. It will be held at the offices of Mazars, Lancaster House, 67 Newhall Street, Birmingham B3 1NG. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Mazars, Lancaster House, 67 Newhall Street, Birmingham B3 1NG not later than 12:00 noon, September 29, 2004. CONTACT: MAZARS Lancaster House 67 Newhall Street, Birmingham B3 1NG Liquidator: A S Wood Phone: 0121 236 7711 Fax: 0121 236 2778 Web site: http://www.mazars.co.uk MANCOR LTD.: Final Members Meetings September 23 ------------------------------------------------ Name of Companies: Mancor Ltd. Mancor (Bow) Ltd. Mancor (Barking) Ltd. The final meetings of the members and creditors of these companies will be on September 23, 2004 commencing at 10:00 a.m. and thereafter at 15-minute intervals. It will be held at the offices of Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Begbies Traynor (Incorporating Taylor Gotham & Fry), The Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1 2EG not later than 12:00 noon, September 22, 2004. CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea, Essex SS1 2EG Liquidator: J Taylor Phone: 01702 467255 Fax: 01702 467201 Web site: http://www.begbies.com MARK WARD: PwC to Give Final Liquidation Update September 27 ------------------------------------------------------------ The final meetings of the members and creditors of Mark Ward Refrigeration Services Limited will be on September 27, 2004 commencing at 11:00 a.m. and 11:15 a.m. respectively. It will be held at the offices of PricewaterhouseCoopers LLP, Hill House, Richmond Hill, Bournemouth, Dorset BH2 6HR. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with PricewaterhouseCoopers LLP, Hill House, Richmond Hill, Bournemouth, Dorset BH2 6HR not later than 12:00 noon, September 24, 2004. CONTACT: PRICEWATERHOUSECOOPERS LLP Hill House, Richmond Hill, Bournemouth, Dorset BH2 6HR Joint Liquidators: P M Boyden P W Harding Phone: [44] (1202) 294621 Fax: [44] (1202) 556978 Web site: http://www.pwc.com MUNRADTECH LIMITED: Names HKM Administrator ------------------------------------------- Holding company Munradtech Limited has appointed John Phillip Walter Harlow as administrator. The appointment was made August 5, 2004. Its registered address is c/o HKM LLP, The Old Mill, 9 Soar Lane, Leicester LE3 5DE. CONTACT: HKM LLP The Old Mill, 9 Soar Lane, Leicester LE3 5DE Administrator: John Phillip Walter Harlow Phone: +44(0) 116 242 5100 Fax: +44(0) 116 242 5200 Insolvency Fax: +44 (0) 116 242 5201 Web site: http://www.hkm.co.uk ON-TRAC: Creditors Meeting Set September 2 ------------------------------------------ IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF On-Trac Recruitment Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of On-Trac Recruitment Ltd. will be held at Rifsons House 63-64 Charles Lane London NW8 7SB on September 2, 2004 at 12:30 p.m. for the purpose of having a full statement of the position of the Company's affairs, together with a list of the Creditors of the Company and the estimated amount of their claims, laid before them, and for the purpose, if thought fit, of nominating a Liquidator and of appointing a Liquidation Committee. (Sections 99-101 of the said Act) In accordance with section 98 (2) Insolvency Act 1986, a list of Creditors' names and addresses will be available for inspection, free of charge, at Rifsons, Rifsons House 63-64 Charles Lane London NW8 7SB on two business days next before the meeting. By Order of the Board. L. Williams, Director July 30, 2004 CONTACT: RIFSONS Rifsons House 63-64 Charles Lane St. Johns Wood London NW8 7SB Phone: +0207+586+7032 (2 lines) +0207+586+9831 (3 lines) Fax: +0207+586+9834 E-mail: rifsons@wol.net.pk Web site: http://www.rifsons.com ORION FOOTWEAR: Hires Baker Tilly Liquidator -------------------------------------------- At an extraordinary general meeting of the Orion Footwear Limited Company on August 17, 2004 held at Baker Tilly, 2 Whitehall Quay, Leeds LS1 4HG, the Special, Ordinary and Extraordinary Resolutions to wind up the company were passed. Robert Henry Barker of Baker Tilly, 2 Whitehall Quay, Leeds LS1 4HG and Alec David Pillmoor, of Baker Tilly, Wilberforce Court, Alfred Gelder Street, Hull HU1 1YH have been appointed joint liquidators for the purpose of such winding-up. CONTACT: BAKER TILLY 2 Whitehall Quay Leeds LS1 4HG Liquidator: Robert Henry Barker Phone: 0113 285 5000 Fax: 0113 285 5001 Web site: http://www.bakertilly.co.uk BAKER TILLY Wilberforce Court, Alfred Gelder Street, Hull HU1 1YH Liquidator: Alec David Pillmoor Phone: 01482 327406 Fax: 01482 326957 Web site: http://www.bakertilly.co.uk POTTERS CHILDRENS: Business for Sale ------------------------------------ Following a financial reorganization, the Joint Administrators of Triangle One Limited, Malcolm Fillmore and Ranjit Bajjon of Benedict Mackenzie LLP offer for sale the business of Potters Children's Store. Principal features of the business are: (a) Exciting "different" children's store concept, (b) Existing outlets at Brighton and Bromley, (c) Successful Start-up, (d) Ready for Stage 2 Expansion, (e) Experienced Senior Management, and (f) Significant E-Commerce Prospects CONTACT: BENEDICT MACKENZIE Malcolm Fillmore Phone: 01293 410333 Fax: 01293 428530 E-mail: m.fillmore@benemack.com ROOSEVELT PARK: Members, Creditors Meeting September 21 ------------------------------------------------------- The general meetings of the members and creditors of Roosevelt Park Limited will be on September 21, 2004 commencing at 11:00 a.m. and 11:30 a.m. respectively. It will be held at the offices of HKM, 73-75 Aston Road North, Waterlinks, Birmingham B6 4DA. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with HKM, 73-75 Aston Road North, Waterlinks, Birmingham B6 4DA not later than 12:00 noon, September 20, 2004. CONTACTG: HKM 73-75 Aston Road North, Waterlinks, Birmingham B6 4DA Joint Liquidator: K Mistry Phone: +44 (0) 121 333 7300 Fax: +44 (0) 121 333 7301 Web site: http://www.hkm.co.uk SKYLIGHT LIMITED: Calls in Liquidator from Royce Peeling Green -------------------------------------------------------------- At an extraordinary general meeting of the Skylight Limited Company on August 20, 2004 held at the offices of Royce Peeling Green, The Copper Room, Deva Centre, Trinity Way, Manchester M3 7BG, the Ordinary and Extraordinary Resolutions to wind up the company were passed. Peter Jones and Roderick Michael Withinshaw, of Royce Peeling Green, The Copper Room, Deva Centre, Trinity Way, Manchester M3 7BG have been appointed joint liquidators of the Company for the purpose of such winding-up. CONTACT: ROYCE PEELING GREEN The Copper Room Deva Center, Trinity Way, Manchester M3 7BG Joint Liquidators: Peter Jones Roderick Michael Withinshaw Phone: 0161 6080000 Fax: 0161 608 0001 E-mail: info@rpg.co.uk Web site: http://www.rpg.co.uk SPERO COMMUNICATIONS: Extraordinary Winding up Resolution Passed ---------------------------------------------------------------- At an extraordinary general meeting of the Spero Communications Limited on August 20, 2004 held at Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW, the Extraordinary Resolution to wind up the company was passed. K D Goodman, of Leonard Curtis & Co, One Great Cumberland Place, Marble Arch, London W1H 7LW has been appointed the liquidator of the company for the purpose of such winding-up. CONTACT: LEONARD CURTIS & CO One Great Cumberland Place, Marble Arch, London W1H 7LW Liquidator: K D Goodman Phone: 020 7535 7000 Fax: 020 7723 6059 E-mail: solutions@leonardcurtis.co.uk Web site: http://www.leonardcurtis.co.uk TDSE UK: Hires PricewaterhouseCoopers Liquidator ------------------------------------------------ At a meeting of the TDSE UK Limited on August 18, 2004, the Special and Ordinary Resolutions to wind up the company were passed. Tim Walsh and Jonathan Sisson of PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street, Leeds LS1 4JP have been appointed joint liquidators of the company for the purpose of such winding-up. CONTACT: PRICEWATERHOUSECOOPERS LLP Benson House 33 Wellington Street Leeds LS1 4JP Joint Liquidators: Tim Walsh Jonathan Sisson Phone: [44] (113) 289 4000 Fax: [44] (113) 289 4460 Web site: http://www.pwcglobal.com U.K. TELCOM: Names Liquidator from Hurst Morrison Thomson --------------------------------------------------------- At an extraordinary general meeting of the U.K. Telecom Limited held at 5 Fairmile, Henley-on-Thames, Oxfordshire RG9 2JR, Extraordinary Resolution to wind up the company was passed. Robert Christopher Keyes of Hurst Morrison Thomson Corporate Recovery LLP, 5 Fairmile, Henley-on-Thames, Oxfordshire RG9 2JR has been appointed liquidator for the purpose of such winding- up. CONTACT: HURST MORRISON THOMSON CORPORATE RECOVERY LLP 5 Fairmile, Henley on Thames, Oxfordshire RG9 2JR Liquidator: Christopher Keyes Phone: +44 (0) 1491 579866 Fax: +44 (0) 1491 573397 E-mail: hmt@hmtgroup.co.uk UNIFURNACES (HOLDINGS): Sets General Meeting September 6 -------------------------------------------------------- The meetings of the members and creditors of Unifurnaces (Holdings) Limited will be on September 6, 2004 commencing at 10:30 a.m. and 11:00 a.m. respectively. It will be held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB not later than 12:00 noon, September 3, 2004. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Roderick Graham Butcher Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk UNITED BISCUITS: Ratings Cut to 'B'; Outlook Stable --------------------------------------------------- Standard & Poor's Ratings Services lowered its long-term corporate credit ratings on U.K.-based biscuits and snacks manufacturer United Biscuits Finance PLC -- and its direct subsidiary Regentrealm Ltd. -- to 'B' from 'B+', and removed the ratings from CreditWatch. The ratings were originally placed on CreditWatch on July 26, 2004, following the group's announcement that it had signed an agreement to acquire Jacob's Biscuit Group, a savory biscuits and snacks business. The outlook is stable. "The downgrade reflects United Biscuits' choice to fully finance its acquisition of Jacob's by debt," said Standard & Poor's credit analyst Sunita Kara. "The group, which already has a highly leveraged financial profile, is also facing increased competitive pressures in its main U.K. biscuits and snacks market, which have also contributed to depressed credit- protection measures." The transaction has yet to be finalized as it is subject to approval from the competition authorities. The rating actions reflect Standard & Poor's expectation of the transaction being completed on the terms that were announced, together with an expected successful negotiation of an appropriate financing package. A large part of the Jacob's integration will take place in 2005, and as a result the group will incur another year of above- normal cash outflows associated with restructurings. Although this would result in very limited free cash flow generation from operations, it is still expected to be commensurate with the mandatory debt repayment in that year. Standard & Poor's believes the integration of Jacob's and the plan to extract targeted synergies on a timely basis, in addition to the need to manage the competitive situation in the U.K., is likely to put a strain on the group's management. The acquisition of the savory biscuits and snacks business, which will account for about 10% of total sales, is mildly positive for United Biscuits' overall market position. This is because of Jacob's largely branded product portfolio of well- known brands, and relatively high EBITDA margins. The business has also been facing the same external challenges that affect profitability at United Biscuits, however, namely price pressure from retailers and commodity price inflation. United Biscuits' should be able to sustain the profitability of its U.K. business at the current level. The group also has a track record in extracting costs, which supports its intention to realize the planned synergies in a timely manner. United Biscuits' very highly leveraged financial profile is expected to improve only gradually, however, due to initially limited free cash flow generation. Ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at http://www.ratingsdirect.com. It can also be found at http://www.standardandpoors.com. Alternatively, call one of the following Standard & Poor's numbers: London Ratings Desk (44) 20-7176-7400; London Press Office Hotline (44) 20-7176- 3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the media may also contact the European Press Office via e- mail: media_europe@standardandpoors.com. CONTACT: STANDARD AND POOR'S RATING SERVICES Analyst E-mail Addresses sunita_kara@standardandpoors.com vincent_allilaire@standardandpoors.com CorporateFinanceEurope@standardandpoors.com VERTIGO CLADDING: Members, Creditors Meeting Set September 24 ------------------------------------------------------------- The general meetings of the members and creditors of Vertigo Cladding & Services Limited will be on September 24, 2004 commencing at 10:30 a.m. and 11:00 a.m. respectively. It will be held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the Company disposed of, and to hear any explanation that may be given by the liquidator. Members or creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB not later than 12:00 noon, September 23, 2004. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Liquidator: Roderick Graham Butcher Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk WIDNES PLANT: Members Pass Winding up Resolutions ------------------------------------------------- At an extraordinary general meeting of the Widnes Plant Hire Limited Company on August 13, 2004 held at Tomlinsons, St John's Court, 72 Gartside Street, Manchester M3 3EL, the Resolutions to wind up the company were passed. Alan H Tomlinson of Tomlinsons, St John's Court, 72 Gartside Street, Manchester M3 3EL has been appointed as liquidator of the company for the purpose of such winding-up. CONTACT: TOMLINSONS St John's Court, 72 Gartside Street, Manchester M3 3EL Liquidator: A H Tomlinson Phone: 0870 60 70 170 Fax: 0870 60 70 180 E-mail: advice@tomlinsons.co.uk Web site: http://www.tomlinsons.co.uk ZONEWEB LIMITED: Execs Get Temporary Ban from Holding Office ------------------------------------------------------------ Two directors of a printing business that failed have given undertakings not to hold directorships or take any part in company management for five and three years respectively. The undertakings by Neilson Henry Moore, 61, of Cox Hill, Great Easton, Dunmow; and Wayne Moore, 39, of Gore Road, London, E9, were given in respect of their conduct as directors of Zoneweb Limited and Winchmore Supplies & Services Limited which both traded from premises at 48- 50 Fowler Road, Hainault, Ilford, Essex, IG6 3UT. Acceptance of the undertakings on August 5, 2004 prevents Neilson and Wayne Moore from being a director of a company or, in any way, whether directly or indirectly, being concerned or taking part in the promotion, formation or management of a company for five and three years each. Zoneweb was placed into voluntary liquidation on August 15, 2002 with estimated debts of GBP581,039 owed to creditors. Winchmore was placed into voluntary liquidation on May 27, 2003 with estimated debts of GBP374,552 owed to creditors. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered unfit to be involved in the management of companies in the future. Matters of unfit conduct, not disputed by Neilson and Wayne Moore, were that Neilson Moore caused and Wayne Moore allowed: (a) Zoneweb to breach its statutory obligations to Crown departments to file returns and make tax payments; (b) Winchmore to breach its statutory obligations to submit to the Inland Revenue, tax returns for the years 2002/2003 and 2003/2004. No tax deductions were made from employees and GBP150,000 was due to the Inland Revenue at liquidation. CONTACT: THE INSOLVENCY SERVICE 21 Bloomsbury Street London, WC1B 3QW Web site: http://www.insolvency.gov.uk Disqualification Unit Phone: 020 7291 6807 020 7291 6832 (Vetting) E-mail: Disqualification.Unit@insolvency.gsi.gov.uk Criminal Allegations Team Phone: 020 7291 6841 E-mail: criminal.allegations@insolvency.gsi.gov.uk * Large Companies with Insolvent Balance Sheets ----------------------------------------------- Shareholders Total Working Equity Assets Capital Ticker (US$MM) (US$MM) (US$MM) ------ ----------- ------- -------- AUSTRIA ------- Libro A.G. (111) 174 (182) BELGIUM ------- Carestel 178 (68) City Hotels 210 (15) Real Software 176 17 CZECH REPUBLIC -------------- Ceskomoravska Kolben & Danek Praha Holding (89) 192 (2,186) DENMARK ------- Elite Shipping (28) 101 19 FRANCE ------ Arbel 213 47 Banque Nationale de Paris Guyane BNPG (41) 352 N.A. BSN Glasspack (101) 1,151 179 Compagnie Francaise de l'Afrique Occidentale (65) 256 21 Charbo de France 4,738 2,868 Cofidur S.A. (5) 102 19 Euro Computer System (110) 682 377 Grande Paroisse S.A. (927) 629 330 Immob Hoteliere 233 29 LVL Medical Group 149 (6) Pneumatiques Kleber S.A. (34) 480 139 SDR Picardie (135) 413 N.A. Soderag 404 N.A. Sofal S.A. (305) 6,619 N.A. Spie-Batignolles (16) 5,281 75 St Fiacre (FIN) (1) 111 (33) Trouvay Cauvin TRCN (0) 134 10 Usines Chauson (23) 249 35 GERMANY ------- Dortmunder Actien-Brauerei DABG (13) 118 (29) F.A. Guenther & Sohn A.G. GUSG (8) 111 N.A. Kaufring A.G. KAUG (19) 151 (51) Nordsee A.G. (8) 195 (31) Primacom A.G. 1,264 (50) Schaltbau A.G. SLTG (16) 149 26 Sinn Leffers 454 145 Vereinigter Baubeschlag-Handel Holding A.G. VBHG (24) 337 (80) ITALY ----- Binda S.p.A. BND (11) 129 (20) Coin S.p.A. 974 (97) Credito Fondiario e Industriale S.p.A. CRF (200) 4,218 N.A. Finpart S.p.A. 793 248 Olcese S.p.A. 180 (64) Tecnodiff Italia 152 24 NETHERLANDS ----------- Baan Company N.V. BAAN (8) 610 46 Numico N.V. 2,030 83 United Pan-Euro Air UPC (5,266) 5,180 (8,730) NORWAY ------ Pan Fish ASA 514 (327) Petroleum-Geo Services PGO (32) 2,963 (5,250) POLAND ------ Animex S.A. ANX (1) 108 (86) Exbud Skanska S.A. EXBUF (9) 315 (330) Media Capital 399 (85) Mostostal Zabrze 227 336 Stalexport 229 51 RUSSIA ------ Kamchatskenergo 291 7,320 Zil Auto 333 (10,769) SPAIN ----- Altos Hornos de Vizcaya S.A. (116) 1,283 (278) Santana Motor S.A. (46) 223 41 Sniace S.A. (11) 137 (34) SWITZERLAND ----------- Kaba Holding A.G. KABZN (47) 572 278 Swisslog Holding-R 354 151 UNITED KINGDOM -------------- Abbott Mead Vickers (2) 168 (16) Alldays Plc (120) 252 (202) Amey Plc (49) 932 (47) 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 Nuclear Fuels Plc (2,627) 40,326 (977) Center Parcs (UK) Group Plc (77) 423 (227) Compass Group CPG (668) 2,972 (298) Costain Group 396 4 Dawson Holdings DWSN (29) 142 (29) Dignity PLC 485 (89) Easynet Group 323 38 Electrical and Music EMI Industries Group (885) 3,472 (293) Euromoney 167 2 Gallaher Group GLH (543) 6,304 116 Gartland Whalley (11) 145 (8) Global Green Tech Group (156) 408 (18) Heath Lambert Fenchurch Group PLC (10) 4,109 (10) HMV Group PLC HMV (211) 997 (56) Intertek Testing Services ITRK (134) 508 77 Invensys PLC 5,885 882 IPC Media Ltd. (685) 254 16 Lambert Fenchurch Group (1) 1,827 3 Lattice Group (1,290) 12,410 (1,228) Leeds United 144 (29) Manchester City (17) 154 (21) Misys PLC MSY (161) 934 44 Mytravel Group 2,551 (533) Orange PLC ORNGF (594) 2,902 7 PD Ports PLC 361 0 Premier Foods 1,105 34 Regus Plc 367 60 Rentokil Initial Plc RTO (1,130) 3,245 (68) Saatchi & Saatchi SSI (119) 705 (41) Seton Healthcare (11) 157 0 Each Tuesday edition of the TCR-Europe contains a list of companies with insolvent balance sheets based on the latest publicly available balance sheet available to our editors at the time of publication. At first glance, this list may look like the definitive compilation of stocks that are ideal to sell short. Don't be fooled. Assets, for example, reported at historical cost net of depreciation may understate the true value of a firm's assets. A company may establish reserves on its balance sheet for liabilities that may never materialize. The prices at which equity securities trade in public market are determined by more than a balance sheet solvency test. ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe, and Julybien Atadero, Editors. Copyright 2004. 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 * * *