/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/041006.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 Wednesday, October 6, 2004, Vol. 5, No. 198 Headlines G E R M A N Y BAUGESCHAFT GRETT: Construction Firm Files for Bankruptcy CELANESE AG: Ships American Unit to BCP Crystal for EUR290 Mln EGON SCHULZE: Frankfurt Court Appoints Provisional Administrator FINK VERWALTUNGS: Administrator to File Report Later this Month "GER-POL" GMBH: Proofs of Claim Due Next Week GRUMMET GMBH: Selling Assorted Equipment, Assets HAVANA GROSSHANDEL: Creditors' Claims Due Next Week INFO PRO: Court Appoints Provisional Administrator of Business JULICHER BETONSTAHLVERLEGUNGS: Under Bankruptcy Administration KAMMERHOF GRUNDSTUCKSFONDS: Applies for Bankruptcy Proceedings KARSTADTQUELLE AG: Logistic Operations Attract Fiege, DHL KARSTADTQUELLE AG: EM.TV Eyes DSF Stake "MATOS GMBH": Creditors Have Until November to File Claims P B PFLASTERER: Administrator's Report Out December TISCHLEREI KORF: Public Auction of Assets Next Week WCM GROUP: Appoints Rainer Laufs New Supervisory Board Member WESTLB AG: Two Savings Bank Answer Call for EUR1.5 Bln Capital H U N G A R Y BORSODCHEM RT: Ordinary Shares to Trade on Warsaw Bourse Friday DUNAFERR RT: Closes HUF100 Billion Privatization Transaction I R E L A N D ELAN CORPORATION: Takes US$55 Million Charge for U.S. SEC Probe KROMBERG & SCHUBERT: Transferring Operations to Slovakia I T A L Y ALITALIA SPA: Government Pledges EUR750 Million in Aid CIRIO FINANZIARIA: San Miguel Eyes Stake in Del Monte Pacific K Y R G Y Z S T A N BAKAI TASH: Under Bankruptcy Supervision DIALFARM: Proofs of Claim Deadline Set KLIRINGCENTER MINISTRY: Auction of Accounts Receivable Next Week KYRGYZAGROPROMBANK: Liquidator Sets Public Auction Date SHAHTA KORGON: Insolvency Manager to Auction Assets in Two Weeks TENIR: Bishkek Court Hires Manager to Temporarily Run Business R U S S I A BACHATSKOYE REPAIR-TECHNICAL: Proofs of Claim Due in Two Weeks DERBENT-ENERGO: Under Bankruptcy Supervision MECHANIZATION: Insolvency Manager Schedules Public Auction NERCHINSK-GRAIN-PRODUCT: Insolvency Manager Takes over Business PERVOMAYSKOYE: Court Names V. Bulat Insolvency Manager PROKOPYEVSKIY MINE-STROY-MONTAZH: Succumbs to Bankruptcy RODNIK: Court Hires External Manager to Temporarily Run Business SIB-ENERGO-ZASHITA: Sets Deadline for Proofs of Claim TV-RADIO-COMPANY: Kemerovo Court Appoints Insolvency Manager VLADIKAVKAZSKIY: Bankruptcy Case Pending Before Severnaya Court YUKOS OIL: Rivals Not Keen on Snatching Main Production Unit S W I T Z E R L A N D CONVERIUM AG: Facing Class Action in New York Court CONVERIUM HOLDING: Wellington Cuts Shareholding to Less than 5% U N I T E D K I N G D O M 312312.COM LTD.: Creditors May Appoint Liquidator Next Week AUCKLAND FINANCE: Liquidator to Give Update Later this Month AUTO RESERVATION: Hires Administrator from Vantage BABYSEE LIMITED: Members Opt to Wind up Business B.C.S. CAR-MEN: Calls in Joint Administrators BILLSILQUE LIMITED: Liquidators from BRI Take over Helm BYREAD BUILDING: Members Agree to Liquidate Business COURIER ECOSSE: First Liquidation Meeting Set DIRECT PRINT: Liquidator's Final Report Out November D & M JONES: Calls Members General Meeting FINEST SEAFOOD: First Creditors' Meeting Set FORTH HOTELS: Receivers to Present Report Next Week FREIGHTEURO LIMITED: Members, Creditors Meeting Set November GILLS CASTINGS: Appoints Joint Administrators from CBA GRAHAME JACKSON: Names Knights & Company Liquidator GRAPHIC IMAGE: Sets General Meeting to Hear Liquidator's Report H.T. TRANSPORT: Members Approve Resolution to Wind up Company JKS RENTALS: Appoints A.G. Kakouris Liquidator J SAINSBURY: Owner Gives CEO Seven Months to Show Results K G GHILKS: Members, Creditors Meeting Set November LANGLOIS WELDING: Sets Final Meeting of Members, Creditors MADDOX MAINTENANCE: Final Meeting Set Next Month MARTINS DUNDYVAN: Liquidator to Give Update Later this Month MT SUPPORT: Members Pass Winding up Resolutions NETTLESTEAD LEISURE: Liquidator Known Next Week OMNIBRIDGE CONSULTING: Names Vantis Redhead Administrator PIEDRA LIMITED: Calls in Liquidator PILOTSEAL LIMITED: Calls Meeting to Receive Liquidator's Report PUBS INN: Hires Liquidator from Ward & Co. RICHARD LAWSON: Brings in Joint Administrators ROYAL MAIL: Discontinues Practice of Returning Undelivered Mails SUBDALE PROPERTIES: Members General Meeting Set November TEAMBAR PROMOTIONS: Names Thompson and Frost Liquidator THE HORROR: Hires Joint Administrators from RMT YELTAC LIMITED: Sets Final Meeting of Members Next Month ********* ============= G E R M A N Y ============= BAUGESCHAFT GRETT: Construction Firm Files for Bankruptcy --------------------------------------------------------- The district court of Munster opened bankruptcy proceedings against construction firm Baugeschaft Grett GmbH on September 14. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 18, 2004 to register their claims with court-appointed provisional administrator Andreas Sontopski. Creditors and other interested parties are encouraged to attend the meeting on December 9, 2004, 8:30 a.m. at the district court of Munster at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: BAUGESCHAFT GRETT GMBH Grunstiege 102 A, 48599 Gronau Contact: Guido Grett, Manager Heerweg 34, 48599 Gronau Andreas Sontopski, Insolvency Manager Gnoiener Platz 1, 48493 Wettringen Phone: 02557/9384-0 Fax: +492557938450 DISTRICT COURT OF MUNSTER Gebaudeteil Eingang B Gerichtsstrasse 2 - 6, 48149 Munster, EG Saal 13 B CELANESE AG: Ships American Unit to BCP Crystal for EUR290 Mln -------------------------------------------------------------- The management board of Celanese AG (NYSE:CZ)(FWB:CZZ) approved the divestment of Celanese Americas Corporation (CAC) to BCP Crystal Acquisition GmbH & Co. KG (BCP). CAC is the holding company for the company's business operations in North America. The transfer of the company to BCP is still pending approval by the Celanese AG supervisory board. CAC will be divested at a value of approximately EUR290 million, which reflects the result of a valuation of CAC by the Accounting Firm Ernst & Young. Celanese AG had retained Ernst & Young to value CAC in the course of the preparation of the Annual Accounts as of September 30, 2004. BCP intends to transfer CAC to a U.S. holding company. These steps will optimize the group structure since the future parent company of the Celanese group will have its headquarters in the U.S. In February 2004, BCP stated in its takeover offer documents that if it succeeded in acquiring Celanese AG, it planned to create a U.S. holding company and transfer CAC to it. The Celanese AG management board also referred to this intention in its reasoned opinion on the takeover offer. In divesting CAC, the Celanese AG board of management is acting upon instructions from BCP under the domination and profit and loss transfer agreement between Celanese AG and BCP. This agreement went into effect on October 1, 2004. Celanese AG is a global chemicals company with leading positions in its key products and world-class process technology. The Celanese portfolio consists of four main businesses: Chemical Products, Acetate Products, Technical Polymers Ticona and Performance Products. In 2003, Celanese generated sales of around EUR4.1 billion with about 9,500 employees. The company has 24 production plants and six research centers in 10 countries mainly in North America, Europe and Asia. * * * Celanese AG reported a second quarter operating profit of EUR54 million compared to EUR109 million in the same period last year, which included EUR90 million of insurance recoveries related to the previously disclosed plumbing litigation cases. In the second quarter 2004 report, the company said it had a net loss for the period of EUR91 million, or EUR1.85 per share, compared to net earnings of EUR96 million, or EUR1.95 per share, in the same period last year. In August, Standard & Poor's Ratings Services affirmed its 'B+' corporate credit ratings on BCP Caylux Holdings Luxembourg S.C.A. and its Frankfurt, Germany-based Celanese AG subsidiary and removed them from CreditWatch where they were placed with negative implications on December 16, 2003. The outlook is stable. CONTACT: CELANESE AG Web site: http://www.celanese.com Michael Kraft Phone: +49 (0)69/30514072 Fax: +49 (0)69/305 36787 E-mail: M.Kraft@celanese.com or Phillip Elliott Phone: +49 (0)69 /305 33480 Fax: +49 (0)69/305 36784 E-mail: P.Elliott@celanese.com EGON SCHULZE: Frankfurt Court Appoints Provisional Administrator ---------------------------------------------------------------- The district court of Frankfurt am Main opened bankruptcy proceedings against Egon Schulze Transporte-Spedition GmbH on August 30. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 15, 2004 to register their claims with court-appointed provisional administrator Angelika Amend. Creditors and other interested parties are encouraged to attend the meeting on January 18, 2004, 8:30 a.m. at Saal 1, Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: EGON SCHULZE TRANSPORTE-SPEDITION GMBH Monchhofstrasse 26, 60326 Frankfurt am Main (HRB 36699) Phone: 069/733057 Angelika Amend, Insolvency Manager Minnholzweg 2 b, D-61476 Kronberg Phone: 06173/78340 Fax: 06173/783422 FINK VERWALTUNGS: Administrator to File Report Later this Month --------------------------------------------------------------- Creditors and other interested parties in C.I.F. Fink GmbH & Co. KG are encouraged to attend a meeting on October 28, 2004, 8:00 a.m. at Stuttgart, Hauffstr. 5, EG, Saal 4 for the administrator's first report. C.I.F applied for bankruptcy proceedings on September 8. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: FINK VERWALTUNGS GMBH Contact: Edwin Fink, Manager Baierecker Str. 56, 73614 Schorndorf Dr. Wolfgang Bilgery, Insolvency Manager Humboldtstr. 16, 70178 Stuttgart Phone: 0711/966890 Fax: 0711/9668919 "GER-POL" GMBH: Proofs of Claim Due Next Week --------------------------------------------- The district court of Rostock opened bankruptcy proceedings against "GER-POL" GmbH on September 8. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 14, 2004 to register their claims with court-appointed provisional administrator Jens Dohse. Creditors and other interested parties are encouraged to attend the meeting on November 24, 2004, 9:30 a.m. at the district court of Rostock at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: "GER-POL" GMBH Werner Felsch, Markt 6, 18258 Schwaan Jens Dohse, Insolvency Manager Hermannstrasse 5, 18055 Rostock DISTRICT COURT OF ROSTOCK Zochstrasse, 18057 Rostock, Saal 330 GRUMMET GMBH: Selling Assorted Equipment, Assets ------------------------------------------------ Karner & Co. GmbH will sell the properties of Grummet GmbH on October 13, 2004, 2:00 p.m. to 5:00 p.m. at Bahnhofstrasse 17, 32805 Horn, Germany. For sale are 70 woodworking items that include: (a) Altendorf Formatkreissage F45 (1994 model); (b) Joos Furnierpresse. Size: 2500mm by 1200mm (1970 model); (c) Johannsen Langbandschleifmaschine T94 (1995 model); (d) Kolle Abrichte/Dickte-Hobelmaschine HK63 (1970 model); (e) Frommia Tischfrase 700 N (1960 model); (f) Lower Kantenschleifmaschine (1998 model); (g) Karl Muller Bandsage N-RA; and (h) Complete workshop and office equipment of the company. CONTACT: KARNER & CO. GMBH Phone: 05292 /931432 Fax: 05292 /931434 E-mail: meier.karner@goindustry.com HAVANA GROSSHANDEL: Creditors' Claims Due Next Week --------------------------------------------------- The district court of Darmstadt opened bankruptcy proceedings against HAVANA Grosshandel- und Franchise GmbH on September 9. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 14, 2004 to register their claims with court-appointed provisional administrator Ulrich Bert. Creditors and other interested parties are encouraged to attend the meeting on November 25, 2004, 9:30 a.m. at Zimmer 108, Gebaude E, Landwehrstrasse 48, 64293 Darmstadt at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HAVANA GROSSHANDEL- UND FRANCHISE GMBH Rheinstrasse 24, 64283 Darmstadt (AG Darmstadt, HRB 7046) Contact: Peer Hans Appelshauser, Manager Schonbornstrasse 39, 63075 Offenbach Phone: 0 61 51 / 70 28 0 - 70 Fax: 0 61 51 / 70 28 0 - 71 E-mail: info@havana-bar.de Web site: http://www.havana-bar.de Ulrich Bert, Insolvency Manager Birkenweg 24, 64295 Darmstadt Phone: 06151/66729-0 Fax: 06151/66729-20 INFO PRO: Court Appoints Provisional Administrator of Business -------------------------------------------------------------- The district court of Dusseldorf opened bankruptcy proceedings against info pro Unternehmensberatung GmbH on September 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 11, 2004 to register their claims with court-appointed provisional administrator Dr. Winfrid Andres. Creditors and other interested parties are encouraged to attend the meeting on November 25, 2004, 8:30 a.m. at the district court of at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: INFO PRO UNTERNEHMENSBERATUNG GMBH Heltorfer Mark 138, 40489 Dusseldorf Contact: Eckhard Kreier, Manager Heltorfer Mark 138, 40489 Dusseldorf Dr. Winfrid Andres, Insolvency Manager Neuer Zollhof 3, 40221 Dusseldorf DISTRICT COURT OF DUSSELDORF Hauptstelle, Muhlenstrasse 34 40213 Dusseldorf, 3. OG Altbau, A 341 JULICHER BETONSTAHLVERLEGUNGS: Under Bankruptcy Administration -------------------------------------------------------------- The district court of Aachen opened bankruptcy proceedings against Julicher Betonstahlverlegungs GmbH on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 29, 2004 to register their claims with court-appointed provisional administrator Thomas Georg. Creditors and other interested parties are encouraged to attend the meeting on December 6, 2004, 9:15 a.m. at the district court of Aachen at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: JULICHER BETONSTAHLVERLEGUNGS GMBH Lokman i.L., Alte Turmstr. 11, 52457 Aldenhoven Contact: Celik Lokmann Thomas Georg, Insolvency Manager Frankenstr. 12-16, 52070 Aachen Phone: 0241/94618-0 Fax: 0241/533562 DISTRICT COURT OF AACHEN Nebenstelle Augustastrasse Augustastrasse 78/80, 52070 Aachen II. Etage, Zimmer 21 KAMMERHOF GRUNDSTUCKSFONDS: Applies for Bankruptcy Proceedings -------------------------------------------------------------- The district court of Rostock opened bankruptcy proceedings against Kammerhof Grundstucksfonds- und Beteiligungsgesellschaft mbH on September 7. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 15, 2004 to register their claims with court-appointed provisional administrator Ulrike Hoge-Peters. Creditors and other interested parties are encouraged to attend the meeting on November 24, 2004, 11:00 p.m. at the district court of Rostock at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: KAMMERHOF GRUNDSTUCKSFONDS- UND BETEILIGUNGSGESELLSCHAFT MBH Contact: Eckart Gruder, Manager Klosterstrasse 1, 18209 Bad Doberan Ulrike Hoge-Peters, Insolvency Manager Roxa-Luxemburg-Strasse 8, 18055 Rostock DISTRICT COURT OF ROSTOCK Zochstrasse, 18057 Rostock, Saal 330 KARSTADTQUELLE AG: Logistic Operations Attract Fiege, DHL --------------------------------------------------------- Logistic service provider Fiege is currently in talks with KarstadtQuelle AG regarding plans to acquire the retail giant's logistics division, Frankfurter Allgemeine Zeitung says. KarstadtQuelle is planning to sell its entire logistics operations as part of its restructuring plan. Aside from Fiege, Deutsche Post's logistics subsidiary DHL has also expressed interest in the unit. The retail giant earlier said negotiations regarding the transfer of its logistics activities to an external service provider had reached the final phase. Fiege, which booked EUR1.42 billion in turnover in 2003, has around 12,000 full-time employees, 5,000 of them based in Germany. CONTACT: KARSTADTQUELLE AG Theodor-Althoff-Str. 2 D-45133 Essen Phone: +49-201-727-1 Fax: +49-201-727-5216 Web site: http://www.karstadtquelle.com FIEGE DEUTSCHLAND GMBH & CO. KG Joan-Joseph-Fiege-Strasse 1 48268 Greven Phone: +49 2571 999-0 Fax: +49 2571 999-888 Video: +49 2571 915-735 Web site: http://www.fiege.de DHL WORLDWIDE EXPRESS GMBH Monzastrasse 2 Langen 63225 Phone: 0800 2255345 49-6103-765-60 Web site: http://www.dhl.de KARSTADTQUELLE AG: EM.TV Eyes DSF Stake --------------------------------------- Media group EM.TV interested in buying KarstadtQuelle's stake in sports TV channel Deutsches Sport Fernsehen (DSF), Die Welt says. EM.TV Chairman Werner E. Klatten recently told a newspaper he had already informed the ailing retail giant of his group's interest. EM.TV and KarstadtQuelle each own around 40% of DSF. The two groups also hold a first refusal right and a pre-emptive right for DSF. DSF expects to break even in 2004 after a major restructuring program rescued the sports channel from insolvency earlier this year. It also expects to book its first profit in the first half since its founding in 1993 by Thomas Haffa. Kirch Media used to owned DSF. CONTACT: KARSTADTQUELLE AG Theodor-Althoff-Str. 2 D-45133 Essen Phone: +49-201-727-1 Fax: +49-201-727-5216 Web site: http://www.karstadtquelle.com DEUTSCHES SPORT FERNSEHEN GMBH Munchner Str. 101 85737 Ismaning Germany Phone: 89 96 06 60 Fax: 89 96 06 61 00 9 Web site: http://www.dsf.de EM.TV A.G. Beta-Strasse 11 D-85774 Unterfohring Phone: +49 (0) 89 99 500-0 Fax: +49 (0) 89 99 500-111 E-mail: info@em.tv Web site: http://www.em.tv "MATOS GMBH": Creditors Have Until November to File Claims ---------------------------------------------------------- The district court of Dortmund opened bankruptcy proceedings against "MATOS GmbH" on September 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 5, 2004 to register their claims with court-appointed provisional administrator Dr. Petra Mork. Creditors and other interested parties are encouraged to attend the meeting on November 10, 2004, 9:00 a.m. at the district court of Dortmund at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on December 5, 2004, 9:15 a.m. at the same venue. CONTACT: "MATOS GMBH" Natroper Str. 73, 59439 Holzwickede Dr. Petra Mork, Insolvency Manager Arndtstr. 28, 44135 Dortmund Phone: 0231-952063-0 Fax: 0231-95206316 DISTRICT COURT OF DORTMUND Nebenstelle, Gerichtsplatz 1 44135 Dortmund, II. Etage, Saal 3.201 P B PFLASTERER: Administrator's Report Out December --------------------------------------------------- The district court of Dortmund opened bankruptcy proceedings against P B Pflasterer-Bau GmbH on September 14. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 19, 2004 to register their claims with court-appointed provisional administrator Stephan Heinrichsmeyer. Creditors and other interested parties are encouraged to attend the meeting on December 14, 2004, 9:20 a.m. at the district court of Dortmund at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: P B PFLASTERER-BAU GMBH Trumweg 4 b, 44269 Dortmund Bernhard Courivad, Brinkmannstr. 26 44359 Dortmund Stephan Heinrichsmeyer, Insolvency Manager Spiekergasse 6-8, 33330 Gutersloh Phone: 05241/92 02-0 Fax: 92 02 22 DISTRICT COURT OF DORTMUND Nebenstelle, Gerichtsplatz 1 44135 Dortmund, II. Etage, Saal 3.201 TISCHLEREI KORF: Public Auction of Assets Next Week --------------------------------------------------- Karner & Co. GmbH will sell the properties of Tischlerei Korf GmbH on October 13, 2004, 9:00 a.m. at Am Betonwerk 13, 32683 Barntrup, Germany. For sale are 60 items that include: (a) Altendorf Formatkreiss�ge F45 Elmo (2001 model); (b) Einseitige Kantenanleimmaschine OTT Profimatic M256 (1989 model); (c) Yale Gas fork lifter GLP 032 Aus (1978 model); (d) Compair Compressor L07 (2003 model); (e) Maka Langbandschleifmaschine SM3000 (1992 model); (f) Veb Kantenbandschleifer Fahrbar KS225 (1987 model); and (g) Complete workshop and office equipment of the company. CONTACT: KARNER & CO. GMBH Phone: 05292 /931432 Fax: 05292 /931434 E-mail: meier.karner@goindustry.com WCM GROUP: Appoints Rainer Laufs New Supervisory Board Member ------------------------------------------------------------- The Frankfurt am Main District Court appointed Rainer Laufs member of the Supervisory Board of WCM Beteiligungs- und Grundbesitz-Aktiengesellschaft at the application of the Management Board. Most recently, Rainer Laufs managed Deutsche Shell AG, Hamburg until 1999, as Chairman of the Management Board. Rainer Laufs is currently the CEO of the Forum fur Zukunftsenergien e.V., Berlin. Rainer Laufs succeeds Dr. Peter Gloystein on the Supervisory Board, who retired from his position on the grounds of his appointment as Senator for Business and Culture in Bremen. * * * The results of ordinary business activity in the WCM Group totaled -EUR13.8 million in second quarter of 2004, against -EUR17.8 million year-on-year. In the first six months, the results of ordinary business activity amounted to -EUR16.9 million compared to -EUR32.9 million year-on-year. EBIT in second quarter of 2004 was -EUR0.7 million (PY: EUR22.6 million). In the first six months EBIT totaled EUR8.4 million (PY: EUR28.7 million). EBITDA was EUR11.5 million compared to EUR34.2 million year-on-year. In the first six months EBITDA was EUR30.8 million (PY: EUR 59.1 million). CONTACT: WCM BETEILIGUNGS- UND GRUNDBESITZ-AKTIENGESELLSCHAFT Opernplatz 2 60313 Frankfurt, Germany Postfach 17 05 45 60079 Frankfurt am Main Phone +49 (0) 69 90026-0 Fax: +49 (0) 69 90026-110 E-mail: info@wcm.de Web site: http://www.wcm.de WESTLB AG: Two Savings Bank Answer Call for EUR1.5 Bln Capital -------------------------------------------------------------- Following the June 29 AGM decision on a EUR1.5 billion capital increase, WestLB on Thursday received two EUR750 million cash contributions from Rheinischer Sparkassen- und Giroverband (RSGV) and Westfalisch-Lippischer Sparkassen- und Giroverband (WLSGV), the two savings banks and giro associations. The capital increase will become legally effective upon its entry in the Commercial Registers of Munster and Dusseldorf, which we expect before the end of October 2004. Entry in the commercial registers is the prerequisite for the legal validity of the new shareholder structure. 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 ============= H U N G A R Y ============= BORSODCHEM RT: Ordinary Shares to Trade on Warsaw Bourse Friday --------------------------------------------------------------- BorsodChem Rt. informs the participants of the capital market that on Monday the Management Board of the Warsaw Stock Exchange admitted in a formal resolution the Company's ordinary shares (ISIN code: HU0000072640) to trading on the Warsaw Stock Exchange, pursuant to which resolution the first trading day of the Shares on the Warsaw Stock Exchange will be 8 October 2004. Kazincbarcika, 04 October 2004 Laszlo F. Kovacs, CEO CONTACT: BORSODCHEM RT Gabor Hegyi Capital Communications Phone: +36 1 266 0199 Laszlo F. Kovacs Chief Executive Officer DUNAFERR RT: Closes HUF100 Billion Privatization Transaction ------------------------------------------------------------ The privatization process of Dunaferr Dunai Vasmu Rt. has finished successfully complying with the closing conditions specified in the share subscription and investment agreement between State Privatization and Holding Co. and the investment consortium formed by Industrial Union of Donbass, Alchevsky Metallurgical Combine Co., Duferco International Trading Co. Ltd., as well as Kundax AG. The document on this was signed by Miklos Kamaros, CEO of APV Rt., Sergey Taruta, President of the Board of Directors of Industrial Union of Donbass Corporation and Peter Honig, CEO of Dunaferr Rt. on Thursday in Dunaujvaros. Complying with the closing conditions of the share subscription and investment agreement concluded earlier between APV Rt. and the investor consortium lead by Industrial Union of Donbass Corporation overall 1,540,822 pieces of registered Dunaferr Dunai Vasmu Rt. ordinary shares with the nominal value of HUF5,091 each were transferred to the name of Kundax AG, the assigned member of the consortium. The investor consortium has paid the purchase price of the shares before the term 29 September determined by the General Assembly of Dunaferr and has paid in the countervalue of the capital increase of HUF17.3 billion. Not only the privatization process publicized on 15 September last year has finished by the financial transaction, but the future of Dunaferr, Dunaujvaros and the region can also be arranged on the long term. "One of the most compound transactions of the three year long privatization program was finished. In the last one and a half year it was established that in significant part of the cases the privatization is not simply buying and selling, but a complex process taking employment, regional and development interests into consideration as well. It is my belief that Dunaferr has found such a strategic partner, which will take the responsibility of the future of the Ironworks and the company also on the long term," Miklos Kamaras, CEO of APV Rt. told on the occasion of the signing ceremony. As it is known the winner of the single tender invited for the state-owned share package of 79.48% of DUNAFERR Rt., Industrial Union of Donbass Corporation undertook to keep the present number of employees for five years. The total value of the privatization transaction -- including the capital increase of HUF17.3 billion, the middle term undertakings for investment of almost HUF72 billion, for sub0region development of HUF1.3 billion, as well as concerning the improvement of the working conditions, respectively the purchase price of HUF444 million -- amounts to almost HUF100 billion. Besides this Dunaferr Rt. has disposed of a significant part of its loans on the basis of the financial consolidation undertaking of the investor consortium. "It is unique also in regional respect that the future of such a significant steel industrial company could be assured without using public funds. Together with this the role of the state continues in Dunaferr, as we have took part in the management of the company and remain interested in its future success," Imre Baranyi, Member of the Board of Directors of APV Rt., Chairman of the Privatization Process Evaluating Committee highlighted. Sergey Taruta, President of the Board of Directors of Industrial Union of Donbass Corporation also expressed his satisfaction at the successful finishing of privatization: "The simple balance of the complex process is a more productive Dunaferr. This is our aim. And this is good for the shareholders, the workers, the town and the region as well." The aggregate turnover of Industrial Union of Donbass Corporation -- without subsidiaries -- being one of the leading metallurgical company groups in Ukraine and CIS reached US$1.74 billion last year. This means an increase of 85% compared to that of the previous year. The gross profit of the company group increased from almost US$39 million to US$78.9 million and its net profit reached US$26 million. "A serious opportunity was given to Dunaferr to share in the positive effect of steel industrial boom as a member of a significant steel producing and trading consortium determinant on the world market," Sergey Taruta told on the future of the ironworks in Dunaujvaros, which became a member company of Industrial Union of Donbass Corporation. Dunaferr Company Group closed last year with a profit before taxation of HUF193 million beside the accumulated revenue of HUF364 billion against the loss of HUF2.6 billion determined in the basic plan for the year 2003. "The future of the development of Dunaferr started this year was ensured by the successful finishing of privatization on the long term," Peter Honig, CEO of Dunaferr Rt. summarized what has happened on the closing ceremony. CONTACT: DUNAFERR RT Web site: http://www.dunaferr.hu ============= I R E L A N D ============= ELAN CORPORATION: Takes US$55 Million Charge for U.S. SEC Probe --------------------------------------------------------------- Elan Corporation plc will file its interim results for the six months ended 30 June 2004, prepared under Irish GAAP, with the Dublin and London Stock Exchanges this week. The interim results will include a reserve for the Company's estimate of the liabilities related to the previously disclosed shareholder class action lawsuit and the ongoing Securities and Exchange Commission (S.E.C.) investigation. The reserve, which is expected to amount to US$55 million, net of related insurance coverage, will be reflected as a charge in the Company's income statement for the six months ended 30 June 2004. A detailed description of the shareholder class action lawsuit and the S.E.C. investigation is set out in Note 25 of the Company's 2003 Annual Report on Form 20-F under the heading "Securities matters/SEC investigation." The Company is currently in discussions to resolve both the shareholder class action lawsuit and the S.E.C. investigation as soon as practicable. Once the interim results are filed with the Stock Exchanges, the filing will be furnished to the S.E.C. on Form 6-K and can then be accessed at http://www.elan.comand clicking on the Investor Relations section. About Elan Elan is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing, selling and marketing advanced therapies in neurodegenerative diseases, autoimmune diseases and severe pain. Elan's (NYSE: ELN) shares trade on the New York, London and Dublin Stock Exchanges. CONTACT: ELAN CORPORATION, PLC Investors: Emer Reynolds Phone: 353-1-709-4000 Or 800-252-3526 Media: Anita Kawatra Phone: 212-407-5740 Or 800-252-3526 KROMBERG & SCHUBERT: Transferring Operations to Slovakia -------------------------------------------------------- Cable manufacturing firm Kromberg & Schubert is closing its plant in Co Waterford at the end of the year due to unsustainable costs. The company said it had continued to invest in manufacturing equipment, resources and logistics to improve competitiveness, but there are costs that went beyond its control. It is moving operations to Slovakia. "Markets are changing rapidly in our industry and so does the competitive environment. The group is facing an extremely high pressure from its global customers to continue to reduce prices," it said in a statement. The move is to result to the loss of 75 jobs in a city where redundancies is a trend this year. SIPTU, the main union at the company, is negotiating the future of the workers. Kromberg opened in Waterford in 1973. By the early 1990s, it was employing 1,200 people. Last year, the company relocated some operations to Hungary, cutting almost half of its workforce of 140. CONTACT: KROMBERG & SCHUBERT Waterford Industrial Estate Cork Rd. Waterford Phone: +353-51-375955 Fax: +353-51-373714 ========= I T A L Y ========= ALITALIA SPA: Government Pledges EUR750 Million in Aid ------------------------------------------------------ The government will inject EUR750 million in fresh funds to Alitalia as part of the struggling carrier's recapitalization, Il Sole 24 Ore says. The amount was reflected in the government's 2004 finance bill. Private investors are expected to pour in the same amount for the company's flight division as the European Union sought to bring down the government's 62% stake to no more than 49%. The state wants to keep its stake at the airline at no less than 30%. European approved Alitalia's EUR400 state-guaranteed bridging loan in July provided that the airline be privatized and unions approved its restructuring plan. Alitalia's restructuring plan entails splitting off the company to ground and flight divisions. The company will retain the flight unit and pour in some EUR1.5 billion in fresh investments while spin off its ground unit. State holding Fintecna will bring in some EUR780 million into the ground services division to gain a 49% stake. Fintecna's investments is expected to help Alitalia's recapitalization as it will allow the ground unit to take in large chunk of the carrier's debt. 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 CIRIO FINANZIARIA: San Miguel Eyes Stake in Del Monte Pacific ------------------------------------------------------------- The Philippines' largest food and beverage group San Miguel Corporation is conducting due diligence on Singapore-listed Del Monte Pacific. The company said it may buy a 40% stake in Del Monte Pacific, but it has not made a definite decision yet, according to Channel News Asia. Meanwhile, a Business World report citing an insider, said San Miguel is unlikely to proceed with a bid as it just acquired a 50% stake in Australian juice company Berri Ltd. The 40% stake held by Italian food group Cirio in Del Monte Pacific has a market value of US$290 million. A bid from San Miguel could force it to make a general takeover offer. Bidders linked to the possible acquisition include Japan's Sumitomo Corp and the U.S. companies, HJ Heinz and Fresh Del Monte Produce. Philippine-based pineapple canner Del Monte Pacific posted a 23% drop in net profit for the second quarter to USS$6.6 million. It had warned that full-year earnings would miss its earlier forecast. CONTACT: FRESH DEL MONTE PRODUCE INC., Coral Gables Dana Weinstein Phone: 305-520-8278 =================== K Y R G Y Z S T A N =================== BAKAI TASH: Under Bankruptcy Supervision ---------------------------------------- The Talas Regional Inter-District Court on Economic Issues has commenced bankruptcy supervision procedure on Cooperative Bakai Tash. Mr. Alymkul Eshenkulov (License Number 0112) was appointed temporary insolvency manager on April 13, 2004. Creditors will meet on October 15, 2004, 10:00 a.m. at Talas, Building of Regional State Administration, 2nd floor, Room 217. Creditors must submit their proofs of claim and register with the temporary insolvency manager seven days prior to the meeting. Proxies must have authorization to vote. For more information, call (0-3422) 5-28-54. DIALFARM: Proofs of Claim Deadline Set -------------------------------------- The Chui Regional Inter-District Court has commenced bankruptcy supervision procedure on LLC Dialfarm. Mr. Abdygul Jeenbekov (License Number 0303) has been appointed temporary insolvency manager. Creditors will meet on October 15, 2004, 11:00 a.m. at Bishkek, Erkindik Avenue, 57, Room 101. Creditors must submit their proofs of claim and register with the temporary insolvency manager seven days prior to the meeting. Proxies must have authorization to vote. For more information, call (0-312) 62-68-29. KLIRINGCENTER MINISTRY: Auction of Accounts Receivable Next Week ---------------------------------------------------------------- The bidding organizer and insolvency manager of Kliringcenter Ministry of Foreign Trade and Industry will auction the firm's accounts receivable on October 11, 2004, 11:00 a.m. at Bishkek, Chui Avenue, 106, Room 134. For sale is Kliringcenter's receivable from JSC Severnaya PMK. Starting price is KGS22,715,904. Participants must deposit an amount equivalent to 10% of the starting price to the cashier of Kliringcenter Ministry of Foreign Trade and Industry on or before October 8, 2004, until 12:00 noon. Bids must be submitted to Bishkek, Chui Avenue, 106, Room 134. For more information, call (0-312) 62-52-31. KYRGYZAGROPROMBANK: Liquidator Sets Public Auction Date ------------------------------------------------------- The liquidator of JC Kyrgyzagroprombank will sell its properties on October 8, 2004, 10:00 a.m. at Bishkek, Chui Avenue, 114, Room 208. For more information, call (0-312) 66-05-82 or 62-69-91. SHAHTA KORGON: Insolvency Manager to Auction Assets in Two Weeks ---------------------------------------------------------------- The bidding organizer and insolvency manager of open joint stock company Shahta Korgon-Tash will auction the firm's properties on October 19, 2004, 10:00 at Jalal-Abad, Panfilov Str. 34, 2nd floor, Building of Regional State Administration. For sale are: (a) Lots 1-5: Ventilator, tank truck, charging station and substation; (b) Lot 6: Bus H3AC-4951. Starting price: KGS73,026,000; (c) Lot 7: Ventilator 21. Starting price: KGS52,700,000. Participants must deposit an amount equivalent to 10% of the starting price to the cashier of Shahta Korgon-Tash. Bids must be submitted to Kokjangak, Krasnoarmeiskaya Str. 4 between now and the auction date from 9:00 a.m. to 4:00 p.m. For more information, call (0-3743) 2-16-19. TENIR: Bishkek Court Hires Manager to Temporarily Run Business -------------------------------------------------------------- The Bishkek Inter-District Court has commenced bankruptcy supervision procedure on LLC Tenir. Mr. Abdygul Jeenbekov (License Number 0303) has been appointed temporary insolvency manager. Creditors will meet on October 15, 2004, 10:00 a.m. at Bishkek, Erkindik Avenue, 57, Room 101. Creditors must submit their proofs of claim and register with the temporary insolvency manager seven days prior to the meeting. Proxies must have authorization to vote. For more information, call: (0-312) 62-68-29. =========== R U S S I A =========== BACHATSKOYE REPAIR-TECHNICAL: Proofs of Claim Due in Two Weeks -------------------------------------------------------------- The Arbitration Court of Kemerovo region has commenced bankruptcy proceedings against Bachatskoye Repair-Technical Enterprise after finding the open joint stock company insolvent. The case is docketed as A27-17590/2003-4. Mr. I. Kovtun has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 650023, Russia, Kemerovo, Moskovskiy Pr. 17 B-4. CONTACT: BACHATSKOYE REPAIR-TECHNICAL ENTERPRISE 652644, Russia, Kemerovo region, Belovo, Inskoy, Tekhnologicheskiy location, 10 Mr. I. Kovtun Insolvency Manager 650023, Russia, Kemerovo, Moskovskiy Pr. 17 B-4 DERBENT-ENERGO: Under Bankruptcy Supervision -------------------------------------------- The Arbitration Court of Dagestan republic has commenced bankruptcy supervision procedure on Derbent-Energo. The case is docketed as A15-628/04-7. Mr. R. Ramazanov has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 367008, Russia, Dagestan republic, Makhachkala, Ukhmanova Str. 12. CONTACT: DERBENT-ENERGO Russia, Dagestan republic, Derbent, Pushkina Str. 86 Mr. R. Ramazanov Temporary Insolvency Manager 367008, Russia, Dagestan republic, Makhachkala, Ukhmanova Str. 12 Phone: (8722) 68-32-69 MECHANIZATION: Insolvency Manager Schedules Public Auction ---------------------------------------------------------- The bidding organizer and insolvency manager of Mechanization will auction the firm's properties tomorrow at 2:00 p.m. The auction will take place at 658210, Russia, Altay region, Rubtsovsk, Lenina Pr., 192-1. Up for sale is a property complex carrying a starting price of RUB4,292,370. The list of documentary requirements for participants is available at 658210, Russia, Altay region, Rubtsovsk, Lenina Pr. 192-1. CONTACT: MECHANIZATION 658210, Russia, Altay region, Rubtsovsk, Post User Box 3 NERCHINSK-GRAIN-PRODUCT: Insolvency Manager Takes over Business --------------------------------------------------------------- The Arbitration Court of Chita region has commenced bankruptcy proceedings against Nerchinsk-Grain-Product after finding the open joint stock company insolvent. The case is docketed as A78-4251/02-B-1374. Mr. S. Karpov has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 672007, Russia, Chita, Kurnatovskogo Str. 19A-34. CONTACT: NERCHINSK-GRAIN-PRODUCT 673400, Russia, Chita region, Nerchinsk, Oktybrskaya Str. 128 Mr. S. Karpov Insolvency Manager 672007, Russia, Chita, Kurnatovskogo Str. 19A-34 PERVOMAYSKOYE: Court Names V. Bulat Insolvency Manager ------------------------------------------------------ The Arbitration Court of Saint-Petersburg and the Leningrad region has commenced bankruptcy supervision procedure on CJSC Pervomayskoye (TIN 6018008989). The case is docketed as A56-11728/04. Mr. V. Bulat has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 180504, Russia, Pskov region, Pskov region, Tyashma. A hearing will take place on October 21, 2004, 10:00 a.m. CONTACT: Mr. V. Bulat Temporary Insolvency Manager 190103, Russia, Saint-Petersburg, Obvodnogo Kanala Quay, 181 PROKOPYEVSKIY MINE-STROY-MONTAZH: Succumbs to Bankruptcy -------------------------------------------------------- The Arbitration Court of Kemerovo region has commenced bankruptcy proceedings against Prokopyevskiy Mine-Stroy-Montazh after finding the close joint stock company insolvent. The case is docketed as A27-13197/2003-4. Mr. A. Samokhin has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 653000, Russia, Kemerovo region, Prokopyevsk, Revolutsii Str. 4. CONTACT: PROKOPYEVSKIY MINE-STROY-MONTAZH 653000, Russia, Kemerovo region, Prokopyevsk, Revolutsii Str. 4 Mr. A. Samokhin Insolvency Manager 653000, Russia, Kemerovo region, Prokopyevsk, Revolutsii Str. 4 RODNIK: Court Hires External Manager to Temporarily Run Business ---------------------------------------------------------------- The Arbitration Court of Volgograd region has commenced external management bankruptcy procedure on cooperative society Dubovskiy Experimental Factory Rodnik (TIN 3405009303, KPP 340501001). The case is docketed as A12-15496/02-S31. Ms. Z. Trigolosova has been appointed external insolvency manager. CONTACT: RODNIK Russia, Volgograd region, Dubrovka, Kharkovskaya Str. 103 Ms. Z. Trigolosova External Insolvency Manager 400005, Russia, Volgograd, Sovetskaya Str. 51, Office 15 SIB-ENERGO-ZASHITA: Sets Deadline for Proofs of Claim ----------------------------------------------------- The Arbitration Court of Kemerovo region has commenced bankruptcy proceedings against Sib-Energo-Zashita (TIN 4205001002) after finding the open joint stock company insolvent. The case is docketed as A27-18295/2003-4. Mr. S. Sergienko has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 650000, Russia, Kemerovo, Main Post Office, Post User Box 962. CONTACT: SIB-ENERGO-ZASHITA 650024, Russia, Kemerovo region, Kemerovo, Baumana Str. 59 Mr. S. Sergienko Insolvency Manager 650000, Russia, Kemerovo, Main Post Office, Post User Box 962 TV-RADIO-COMPANY: Kemerovo Court Appoints Insolvency Manager ------------------------------------------------------------ The Arbitration Court of Kemerovo region has commenced bankruptcy proceedings against TV-Radio-Company Region-RTV after finding the municipal unitary enterprise insolvent. The case is docketed as A27-18294/2003-4. Mr. I. Kovtun has been appointed insolvency manager. Creditors have until October 20, 2004 to submit their proofs of claim to 650023, Russia, Kemerovo region, Moskovskiy Pr. 17 B-4. CONTACT: TV-RADIO-COMPANY REGION-RTV 652644, Russia, Kemerovo region, Belovo, Lipetskaya Str. 28 Mr. I. Kovtun Insolvency Manager 650023, Russia, Kemerovo region, Moskovskiy Pr. 17 B-4 VLADIKAVKAZSKIY: Bankruptcy Case Pending Before Severnaya Court --------------------------------------------------------------- The Arbitration Court of Severnaya Osetiya republic-Alaniya has commenced external management bankruptcy procedure on state unitary enterprise Vladikavkazskiy Meat-Combine (TIN 1500000106). The case is docketed as A-61-503/03-12. Mr. R. Guriev has been appointed external insolvency manager. CONTACT: Mr. R. Guriev External Insolvency Manager Russia, Severnaya Osetiya republic-Alaniya, Vladikavkaz, Telmana Str. 47 YUKOS OIL: Rivals Not Keen on Snatching Main Production Unit ------------------------------------------------------------ Russia's leading energy firms on Monday denied interest in the main west Siberian production subsidiary of Yukos Oil, reports say. Lukoil, TNK-BP, Surgutneftegaz, and Gazprom all said they do not want Yuganskneftegaz, the division that accounts for 60% of Yukos' oil production. The country's largest oil group has vowed to keep the unit even it entails going to the court. Yuganskneftegaz is currently being evaluated for a possible sale to pay down Yukos' back-tax bill. Analysts believe a sell-off is likely after Yukos repeatedly asked for an extension to pay its tax debts. It is also thought the unit would be sold to a state company despite Russian president Vladimir Putin's pronouncement that there are no plans to re-nationalize Yukos. Yukos has US$3.4 billion in back tax for 2000. It already paid an estimated US$2 billion. CONTACT: YUKOS OIL International Information Department Hugo Erikssen Phone: +7 095 540 6313 E-mail: inter@yukos.ru Press Service: Alexander Shadrin Phone: +7 095 785-08-55 E-mail: pr@yukos.ru Investor Relations Contact Alexander Gladyshev Phone: +7095 788 00 33 E-mail: investors@yukos.ru ===================== S W I T Z E R L A N D ===================== CONVERIUM AG: Facing Class Action in New York Court --------------------------------------------------- Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all securities purchasers of Converium Holding AG (NYSE: CHR) from December 11, 2001 through July 20, 2004, inclusive (the Class Period). If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Darren J. Check, Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbclasslaw.com. The complaint charges Converium, Dirk Lohmann, and Martin Kauer with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the complaint alleges that the Company failed to disclose and misrepresented these material adverse facts that were known to defendants or recklessly disregarded by them: (a) that Converium maintained inadequate loss reserves in its Converium North America subsidiary; (b) that the Company, contrary to representations, did not establish adequate loss reserves to cover claims by Converium North America policy holders; (c) that reserve increases announced by the Company during the Class Period were materially insufficient; and (d) as a consequence of the understatement of loss reserves, Converium's earnings and assets were materially overstated at all relevant times. On July 20, 2004, Converium announced that second quarter results would be impacted by a reserve strengthening for U.S. casualty business and subsequent asset impairments on the balance sheet of Converium Reinsurance. News of this shocked the market. Shares of Converium fell US$11.12 per share, or 44.44%, on July 20, 2004, to close at US$13.90 per share. On August 31, 2004, Converium announced that the Company had completed external actuarial review of Converium's reserves. On September 2, 2004, Converium announced that following the announcement of the external reserve review's outcome and resulting capital measures, Standard & Poor's and A.M. Best have lowered their ratings on Converium and its subsidiaries. On this news, shares of Converium fell an additional US$1.04 per share, or 10.51%, to close at US$8.86 per share. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, which prosecutes class actions in both state and federal courts throughout the country. Schiffrin & Barroway is a driving force behind corporate governance reform, and has recovered in excess of a billion dollars on behalf of institutional and high net worth individual investors. For more information about Schiffrin & Barroway, or to sign up to participate in this action online, please visit http://www.sbclasslaw.com. If you are a member of the class described above, you may, not later than December 3, 2004, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other counsel of your choice, to serve as your counsel in this action. CONTACT: SCHIFFRIN & BARROWAY L.L.P. Three Bala Plaza East, Suite 400 Bala Cynwyd, PA 19004 Marc A. Topaz, Esq. Darren J. Check, Esq. Phone: 1-888-299-7706 (toll free) 1-610-667-7706 E-mail: at info@sbclasslaw.com CONVERIUM HOLDING A.G. Baarerstrasse 8 6300 Zug, Switzerland Phone: +41-1-639-9335 Fax: +41-1-639-9334 Web site: http://www.converium.com CONVERIUM HOLDING: Wellington Cuts Shareholding to Less than 5% --------------------------------------------------------------- Converium Holding Ltd. has been notified pursuant to Art. 20 of the Swiss Stock Exchange Act that Wellington Management Company LLC, 75 State Street, Boston, MA, 02100, USA, has adjusted its holding in Converium Holding Ltd., Zug to below 5% of Converium's registered shares. CONTACT: CONVERIUM HOLDING LTD. Michael Schiendorfer Media Relations Manager Phone: +41 1 639 9657 Fax: +41 1 639 7657 Zuzana Drozd Head of Investor Relations Phone: +41 1 639 9120 Fax: +41 1 639 7120 =========================== U N I T E D K I N G D O M =========================== 312312.COM LTD.: Creditors May Appoint Liquidator Next Week ----------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF 312312.com Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of 312312.com Ltd. will be held at Victory House Admiralty Place Chatham ME4 4QU on October 12, 2004 at 11:00 a.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) A Proxy Form, if intended to be used by creditors wishing to vote at the Meeting, must be duly completed and accompanied by their statement of claim, and must be lodged at Victory House Admiralty Place Chatham ME4 4QU not later than 12:00 noon on the business day before the Meeting. Notice is also given, for the purpose of voting, that secured Creditors must (unless they surrender their security) lodge at Victory House Admiralty Place Chatham ME4 4QU before the Meeting, a statement giving particulars of their security, the date when it was given, and the value at which it is assessed. 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 Moore Stephens, Victory House Admiralty Place Chatham ME4 4QU two business days prior to the meeting. By Order of the Board. M. Pigrome, Director September 7, 2004 CONTACT: MOORE STEPHENS CORPORATE RECOVERY Victory House Admiralty Place Chatham Maritime Kent ME4 4QU Phone: +44 (01634) 895100 Fax: +44 (01634) 895101 Web site: http://www.moorestephens.com AUCKLAND FINANCE: Liquidator to Give Update Later this Month ------------------------------------------------------------ The general meeting of the members of Auckland Finance & Investment Company Limited will be on October 26, 2004 commencing at 10:00 a.m. It will be held at Parkway House, 1 Pityme Business Centre, St Minver, Wadebridge, Cornwall PL27 6NU. 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 of hearing any explanation that may be given by the liquidator. AUTO RESERVATION: Hires Administrator from Vantage -------------------------------------------------- Robert Preston James Allen (IP No 9238) has been appointed as administrator for Auto Reservation Limited. The appointment was made September 27, 2004. The company is engaged in other transport agencies. CONTACT: VANTAGE 20-24 Kirby Street, London EC1N 8TS BABYSEE LIMITED: Members Opt to Wind up Business ------------------------------------------------ At an extraordinary general meeting of the Babysee Limited on September 23, 2004 held at the offices of Unique Business Finance Ltd., Unit 6, Lockside Office Park, Lockside Road, Preston PR2 2YS, the extraordinary resolution to wind up the company was passed. Mark Prideaux of Unique Business Finance Ltd., Unit 6, Lockside Office Park, Lockside Road, Preston PR2 2YS has been appointed liquidator for the purpose of such winding-up. CONTACT: UNIQUE BUSINESS FINANCE LTD. Unit 6, Lockside Office Park, Lockside Road, Preston PR2 2YS B.C.S. CAR-MEN: Calls in Joint Administrators --------------------------------------------- Alec David Pillmoor and Robert Henry Barker (IP Nos 007243, 006619) have been appointed joint administrators for B.C.S. Car-Men Limited. The appointment was made September 24, 2004. The company sells motor parts. CONTACT: Alec David Pillmoor Robert Henry Barker 27 Osborne Street, Grimsby, North East Lincolnshire DN31 1NU BILLSILQUE LIMITED: Liquidators from BRI Take over Helm ------------------------------------------------------- At an extraordinary general meeting of the members of the Billsilque Limited (formerly Virtual Viewing (UK) Limited) on September 22, 2004 held at Tempus, 249 Midsummer Boulevard, Central Milton Keynes MK9 1EU, the extraordinary resolution to wind up the company was passed. Peter John Windatt and Gary Steven Pettit of BRI Business Recovery and Insolvency have been appointed joint liquidators for the purpose of the winding-up. BYREAD BUILDING: Members Agree to Liquidate Business ---------------------------------------------------- At an extraordinary general meeting of the members of the Byread Building Services Limited on September 20, 2004 held at 67 Butts Green Road, Hornchurch, Essex RM11 2JS, the extraordinary and ordinary resolutions to wind up the company were passed. J S French and G Mummery have been appointed joint liquidators for the purpose of such winding-up. COURIER ECOSSE: First Liquidation Meeting Set --------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Courier Ecosse Ltd. (in Liquidation) I, of Campbell Dallas Sherwood House 7 Glasgow Road Paisley PA1 3QS hereby give notice that I was appointed Interim Liquidator of Courier Ecosse Ltd. on September 8, 2004 by the Interlocutor of the Sheriff at Sheriff at Paisley. The first meeting in the liquidation called in terms of Section 138(4) of the Insolvency Act 1986 and in accordance with Rule 4.12 of the Insolvency (Scotland) Rules 1986, will be held at Paisley Town Hall Abbey Close Paisley on October 11, 2004 at 10:00 a.m. for the purpose of choosing a liquidator, appointing a Liquidation Committee and considering the other Resolutions specified in Rule 4.12(3) of the aforementioned Rules. Creditors are entitled to vote at the meeting only if they have lodged their claim with me at or before the meeting. Creditors may vote either in person or by proxy form, which may be lodged with me at or before the meeting. David K. Hunter, Interim Liquidator September 16, 2004 CONTACT: CAMPBELL DALLAS Sherwood House 7 Glasgow Road Paisley PA1 3QS Phone: 0141 887 4141 Fax: 0141 887 1103 E-mail: psly@camdal.com Web site: http://www.camdal.com DIRECT PRINT: Liquidator's Final Report Out November ---------------------------------------------------- The final general meeting of the members and creditors of Direct Print Associates Limited will be on November 5, 2004 commencing at 3:00 p.m. and 3:30 p.m. respectively. It will be held at the offices of Elwell Watchorn & Saxton, 109 Swan Street, Sileby, Leicestershire LE12 7NN. 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 and creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Elwell Watchorn & Saxton, 109 Swan Street, Sileby, Leicestershire LE12 7NN not later than 12:00 noon, November 4, 2004. CONTACT: ELWELL WATCHORN & SAXTON 109 Swan Street, Sileby, Leicestershire LE12 7NN Phone: (+44) 01509 815150 Fax: (+44) 01509 815121 E-mail: office@ews-insolvency.co.uk Web site: http://www.ews-insolvency.co.uk D & M JONES: Calls Members General Meeting ------------------------------------------ The general meeting of the members of D & M Jones Limited will be on October 22, 2004, 10:00 a.m. It will be held at Southernhay House, 36 Southernhay East, Exeter EX1 1NX. 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. FINEST SEAFOOD: First Creditors' Meeting Set -------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Finest Seafood (Scotland) Limited (In Liquidation) I, Blair Carnegie Nimmo, Chartered Accountant, KPMG Corporate Recovery, 191 West George Street, Glasgow, G2 2LJ, hereby give notice, that by Interlocutor of the Sheriff of Oban dated September 16, 2004, I was appointed interim liquidator of Finest Seafood (Scotland) Limited, having its registered office at c/o Abacus Services, Abacus Building, 8 High Street, Oban, Argyll, PA34 4BG. Pursuant to Section 138(4) of the Insolvency Act 1986 and Rule 4.12 of the Insolvency (Scotland) Rules 1986, the first meeting of creditors will be held within KPMG, 3rd Floor, 191 West George Street, Glasgow, G2 2LJ, at 2:00 p.m. on October 18, 2004 for the purpose of choosing a Liquidator. The meeting may also consider other resolutions referred to in Rule 4.12(3). All creditors are entitled to attend in person or by proxy and to vote, provided their claims and proxies, if any, have been submitted at or before the meeting. B. C. Nimmo, Interim Liquidator September 22, 2004 CONTACT: KPMG L.L.P. 191 West George Street Glasgow G2 2LJ Phone: (0141) 226 5511 Fax: (0141) 204 1584 Web site: http://www.kpmg.co.uk FORTH HOTELS: Receivers to Present Report Next Week --------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 And IN THE MATTER OF Forth Hotels Limited (In Receivership) A meeting of the creditors of Forth Hotels Limited, trading as Airth Castle & Hotel, is to be held at Merchant House, Glasgow at 2:30 p.m. on October 12, 2004 under the provisions of Section 67 of the Insolvency Act 1986. The purpose of this meeting is to receive the report of the receivers and if the creditors wish to do so, to appoint a committee of creditors. Creditors who have not received notice of the meeting and wish to attend should contact the receivers' office at 0141 245 2073 and ask for Alan Brown. Any creditor requiring a copy of the report, which is available free of charge, should write to Kintyre House, 209 West George Street, Glasgow, G2 2LW. Creditors whose claims are wholly secured are not entitled to attend or be represented at the meeting. L. K. Manson, Joint receiver September 15, 2004 CONTACT: PRICEWATERHOUSECOOPERS LLP Kintyre House 209 West George Street Glasgow G2 2LW Phone: [44] (0) 131 5242233 Fax: [44] (0) 131 2604008 Web site: http://www.pwc.com FREIGHTEURO LIMITED: Members, Creditors Meeting Set November ------------------------------------------------------------ The final meeting of the members and creditors of Freighteuro Limited will be on November 3, 2004 commencing at 3:00 p.m. and 3:30 p.m. respectively. It will be held at Mercer & Hole, Silbury Court, 420 Silbury Boulevard, Milton Keynes, Buckinghamshire MK9 2AF. 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 Mercer & Hole, Silbury Court, 420 Silbury Boulevard, Milton Keynes, Buckinghamshire MK9 2AF not later than 12:00 noon, November 2, 2004. CONTACT: MERCER & HOLE Silbury Court, 420 Silbury Boulevard, Milton Keynes, Buckinghamshire MK9 2AF GILLS CASTINGS: Appoints Joint Administrators from CBA ------------------------------------------------------ Neil Charles Money and Geoff Robbins (IP Nos 8900, 6622) have been appointed joint administrators for Gills Castings & Components Ltd. The appointment was made September 20, 2004. The company is engaged in metal diecastors. Its registered office is located at Marsh Lane, Water Orton, Birmingham B46 1NS. CONTACT: CBA Lichfield Place, 435 Lichfield Road, Aston, Birmingham B6 7SS GRAHAME JACKSON: Names Knights & Company Liquidator --------------------------------------------------- At an extraordinary general meeting of the members of the Grahame Jackson Photography Limited (t/a Grahame Jackson Photography) on September 21, 2004 held at Milford House, 43-55 Milford Street, Salisbury, Wiltshire SP1 2BP, the extraordinary and ordinary resolutions to wind up the company were passed. Barry P Knights of Knights & Company, Milford House, 43-55 Milford Street, Salisbury, Wiltshire SP1 2BP has been appointed liquidator for the purpose of the voluntary winding-up. CONTACT: KNIGHTS & COMPANY Milford House, 43-55 Milford Street, Salisbury, Wiltshire SP1 2BP GRAPHIC IMAGE: Sets General Meeting to Hear Liquidator's Report --------------------------------------------------------------- The general meeting of the members and creditors of Graphic Image (Business Forms) Limited will be on October 29, 2004 commencing at 10:30 a.m. and 11:00 a.m. respectively. It will be held at the offices of Begbies Traynor, 58 Queen Square, Bristol BS1 4LF. 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, 58 Queen Square, Bristol BS1 4LF not later than 12:00 noon, October 28, 2004. CONTACT: BEGBIES TRAYNOR 58 Queen Square, Bristol BS1 4LF Phone: 0117 929 4800 Fax: 0117 922 0114 Web site: http://www.begbies.com H.T. TRANSPORT: Members Approve Resolution to Wind up Company ------------------------------------------------------------- At an extraordinary general meeting of H.T. Transport (Holdings) Limited on September 23, 2004 held at Insol House, 39 Station Road, Lutterworth, Leicestershire LE17 4AP, the subjoined extraordinary resolution to wind up the company was passed. Richard Frank Simms of Insol House, 39 Station Road, Lutterworth, Leicestershire LE17 4AP has been appointed liquidator for the purpose of such winding-up. JKS RENTALS: Appoints A.G. Kakouris Liquidator ---------------------------------------------- At an extraordinary general meeting of the members of the JKS Rentals Ltd. on September 17, 2004 and held at 43 Blackstock Road, London N4 2JF, the extraordinary resolution to wind up the company was passed. Andreas Georgiou Kakouris of 43 Blackstock Road, London N4 2JF has been nominated liquidator for the purpose of the winding-up. J SAINSBURY: Owner Gives CEO Seven Months to Show Results --------------------------------------------------------- The Sainsbury family is considering either selling or taking supermarket chain J Sainsbury private in seven months should the business fail to show any improvement. According to The Scotsman, the family that owns 35% of the company is understood to have given CEO Justin King until May 2005 to turn around the business. Mr. King is due to reveal results of his strategic review of the business later this month. The family is expected to publicly support his plan, but he must deliver results within the specified period. J Sainsbury's business has been severely damaged by the rise of rivals Tesco and Asda. Several potential buyers, including billionaire entrepreneur Philip Green, have already been linked to it. The latest was Permira, the private equity giant, which is reportedly planning to offer GBP5 billion for the firm. The family is also considering taking the company private, although this is a long shot because some of the family members rely on their dividends. These dividends, however, could be slashed so that the savings could be re-injected into the business. An announcement could come this month. One fund manager told The Scotsman: "Sainsbury is in a hugely tough environment . . . Long-term, this stock does have a value but in the short term the margins we believe will have to continue to go down and it simply won't have enough cash to pay the dividend." UBS has cut its profit forecast for the company to GBP330 million, down GBP70 million from its previous expectation. Some analysts predict a major profit warning in the short-term. K G GHILKS: Members, Creditors Meeting Set November --------------------------------------------------- The general meeting of the members and creditors of K G Ghilks Limited will be on November 3, 2004 commencing at 10:30 a.m. and 11:00 a.m. respectively. It will be held at 59-63 Station Road, Northwich, Cheshire CW9 5LT. 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 Hadfield House, Hadfield Street, Northwich, Cheshire CW9 5LU not later than 4:00 p.m., November 1, 2004. LANGLOIS WELDING: Sets Final Meeting of Members, Creditors ---------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Langlois Welding Limited Notice is hereby given, pursuant to Section 106 of the Insolvency Act 1986, that the Final Meetings of Members and Creditors of Langlois Welding Limited will be held within the offices of PKF Accountants and business advisors, 78 Carlton Place, Glasgow G5 9TH on November 19, 2004 at 9:30 a.m. and 10:00 a.m. respectively in order that I may present my final account of the winding-up of the Company. The Meetings will also consider: (a) a resolution to approve my discharge from the position as Liquidator of Langlois Welding Limited; and (b) a resolution to authorize me to dispose of both my own and the Company's books and records three months from the date of my release as Liquidator. All members and creditors whose claims have been accepted are entitled to attend in person or by proxy, and a Resolution will be passed by a majority in value of those voting in favor of it. Attendance at these Meetings is not mandatory and to be valid for voting purposes, the form of proxy must be lodged with me at PKF, Accountants and business advisors, 78 Canton Place, Glasgow G5 9TH, on or before the Meeting at which it is to be used. Bryan Alan Jackson, Liquidator September 10, 2004 CONTACT: PKF 78 Carlton Place Glasgow G5 9TH Phone: 0141 4295900 Fax: 0141 4295901 E-mail: info.glasgow@uk.pkf.com Web site: http://www.pkf.co.uk MADDOX MAINTENANCE: Final Meeting Set Next Month ------------------------------------------------ The final meeting of the members and creditors of Maddox Maintenance Limited will be on November 12, 2004 commencing at 10:30 a.m. and 10:45 a.m. respectively. It will be held at the offices of SPW Poppleton & Appleby, Gable House, 239 Regents Park Road, London N3 3LF. 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 SPW Poppleton & Appleby, Gable House, 239 Regents Park Road, London N3 3LF not later than 12:00 noon, November 11, 2004. CONTACT: SPW POPPLETON & APPLEBY Gable House, 239 Regents Park Road, London N3 3LF MARTINS DUNDYVAN: Liquidator to Give Update Later this Month ------------------------------------------------------------ IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Martins (Dundyvan) Limited (In Members Voluntary Liquidation) Notice is hereby given, pursuant to Section 94 of the Insolvency Act 1986, that a Meeting of the Members of the above named Company will be held at Lomond House, 9 George Square, Glasgow, G2 1QQ on October 26, 2004 at 10:00 a.m. for the purpose of laying the accounts of the winding up before the Meeting, giving any explanation thereof, and of passing a resolution of directing the manner in which the books, accounts and documents of the Company and the Liquidator shall be disposed of. John C. Reid, Joint Liquidator September 17, 2004 CONTACT: DELOITTE & TOUCHE L.L.P. Lomond House 9 George Square Glasgow G2 1QQ Phone: +44 (0)141 204 2800 Fax: +44 (0)141 314 5893 Web site: http://www.deloitte.com MT SUPPORT: Members Pass Winding up Resolutions ----------------------------------------------- At an extraordinary general meeting of the members of the MT Support Services Ltd. on September 22, 2004 held at 27 The Downs, Altrincham, Cheshire WA14 2QD, the extraordinary and ordinary resolutions to wind up the company were passed. Neil Henry and Michael Simister of Lines Henry, 27 The Downs, Altrincham, Cheshire WA14 2QD have been appointed joint liquidators for the purpose of such winding-up. CONTACT: LINES HENRY 27 The Downs, Altrincham, Cheshire WA14 2QD NETTLESTEAD LEISURE: Liquidator Known Next Week ----------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Nettlestead Leisure Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of Nettlestead Leisure Ltd. will be held at 41-43 William Street Herne Bay CT6 5NT on October 11, 2004 at 11:15 a.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) A Form of Proxy, if intended to be used by creditors wishing to vote at the Meeting, must be duly completed and accompanied by their statement of claim, and must be lodged at 41-43 William Street Herne Bay CT6 5NT not later than 12:00 noon on the business day before the Meeting. Notice is also given, for the purpose of voting, that secured Creditors must (unless they surrender their security) lodge at 41-43 William Street Herne Bay CT6 5NT before the Meeting, a statement giving particulars of their security, the date when it was given, and the value at which it is assessed. 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 McCabe Ford Williams, 41-43 William Street Herne Bay CT6 5NT two business days prior to the meeting. By Order of the Board. J. Collins, Director September 8, 2004 CONTACT: MCCABE FORD WILLIAMS 41-43 William Street Herne Bay CT6 5NT Phone: (01227) 373271 Fax: (01227) 740106 E-mail: hernebay@mfw.co.uk Web site: http://www.mfw.co.uk OMNIBRIDGE CONSULTING: Names Vantis Redhead Administrator --------------------------------------------------------- J S French and G Mummery (IP Nos 003862, 100898) have been appointed as joint administrators for Omnibridge Consulting Limited. The appointment was made September 21, 2004. The company is engaged in business and management consultancy. CONTACT: VANTIS REDHEAD FRENCH LIMITED 43-45 Butts Green Road, Hornchurch, Essex RM11 2JX PIEDRA LIMITED: Calls in Liquidator ----------------------------------- At an extraordinary general meeting of the members of the Piedra Limited on September 24, 2004 held at Gable House, 239 Regents Park Road, London N3 3LF, the extraordinary and ordinary resolutions to wind up the company were passed. Roger Cain has been appointed liquidator for the purpose of such winding-up. PILOTSEAL LIMITED: Calls Meeting to Receive Liquidator's Report --------------------------------------------------------------- The general meeting of the members of the Pilotseal Limited will be on November 5, 2004 commencing at 11:00 a.m. It will be held at the offices of Panos Eliades, Franklin & Co., Albany House, 18 Theydon Road, London E5 9NZ. 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. PUBS INN: Hires Liquidator from Ward & Co. ------------------------------------------ At an extraordinary general meeting of the Pubs Inn Style Limited (t/a The Durham Ox) on September 10, 2004 held at Ward & Co, Bank House, Shaw Street, Worcester WR1 3DT, the extraordinary and ordinary resolutions to wind up the company were passed. Barry John Ward of Ward & Co, Bank House, Shaw Street, Worcester WR1 3DT has been appointed liquidator for the purpose of such winding-up. CONTACT: WARD & CO. Bank House, Shaw Street, Worcester WR1 3DT RICHARD LAWSON: Brings in Joint Administrators ---------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 And IN THE MATTER OF Richard Lawson Auto Logistics Limited Pursuant to paragraph 46(2)(b) of Schedule B1 to the Insolvency Act 1986 and Rule 2.19 of the Insolvency (Scotland) Rules 1986, John Bruce Cartwright and Graham Douglas Frost of PricewaterhouseCoopers L.L.P. P.O. Box 90, Erskine House, 68-73 Queen Street, Edinburgh EH2 4NH, and Robert Jonathan Hunt of PricewaterhouseCoopers L.L.P. Cornwall Court, 19 Cornwall Street, Birmingham, B3 2DT, has been appointed administrators of Richard Lawson Auto Logistics Limited on September 14, 2004. ROYAL MAIL: Discontinues Practice of Returning Undelivered Mails ---------------------------------------------------------------- Royal Mail has decided to destroy undelivered post without return addresses in order to cut back on costs, The Telegraph reports. The courier on Tuesday stopped channeling mails of businesses that fail to include return addresses to its returned letter office in Belfast. The office previously opens these letters to find out the addresses of the senders so that they could be returned. By skipping the process, Royal Mail could cut back its annual GBP10 million expense in sorting out returned mails. The decision mainly affects companies that use specially franked envelopes rather than stamps. Some smaller companies, meanwhile, lament the lack of sufficient notice of the policy change. Postal regulator Postcomm previously rapped Royal Mail for its declining service standards. It missed all 15 of its performance targets covering the delivery of first- and second-class mail last year. CONTACT: Royal Mail Holdings plc 148 Old St. London EC1V 9HQ, United Kingdom Phone: +44-20-7250-2888 Fax: +44-20-7250-2244 Web site: http://www.royalmailgroup.com SUBDALE PROPERTIES: Members General Meeting Set November -------------------------------------------------------- The general meeting of the members of Subdale Properties Limited will be on November 5, 2004 commencing at 11:00 a.m. It will be held at Slater Maidment, 7 St James's Square, London SW1Y 4JU. 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. TEAMBAR PROMOTIONS: Names Thompson and Frost Liquidator ------------------------------------------------------- At an extraordinary general meeting of the members of the Teambar Promotions Limited on September 14, 2004 held at 111 Hagley Road, Edgbaston, Birmingham B16 6LB, the extraordinary and ordinary resolutions to wind up the company were passed. Andrew W Thompson and Jeremy C Frost have been appointed joint liquidators for the purpose of such winding-up. THE HORROR: Hires Joint Administrators from RMT ----------------------------------------------- Anthony Alan Josephs and Linda Ann Farish (IP Nos 004179, 009054) have been appointed as joint administrators for The Horror Channel Limited. The appointment was made September 21, 2004. Its registered office is located at 3 Portland Terrace, Newcastle upon Tyne NE2 1QQ. CONTACT: RMT 3 Portland Terrace, Newcastle upon Tyne NE2 1QQ YELTAC LIMITED: Sets Final Meeting of Members Next Month -------------------------------------------------------- The final meeting of the members of Yeltac Limited (formerly Flamgard Engineering Limited) will be on November 5, 2004 commencing at 1:00 p.m. It will be held at Pentre Farm House, Mamhilad, Gwent NP4 0JH. 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 Barry Mitchell & Company, Pentre Farm House, Mamhilad, Gwent NP4 0JH not later than 12:00 noon, November 4, 2004. CONTACT: BARRY MITCHELL & COMPANY Pentre Farm House Mamhilad, Gwent NP4 0JH ********* 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. 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