/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/041008.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 Friday, October 8, 2004, Vol. 5, No. 200 Headlines F R A N C E FRANCE-SOIR: Local 'Newsweek' Publisher Dangles EUR4 Mln Offer G E R M A N Y EMERGING BIOTECH: Sets Creditors' Meeting Later this Month DARENBERG EUROPAISCHE: Creditors' Claims Due December DELTA DROSCHKENBURO: Under Bankruptcy Administration DR. HELD: Provisional Administrator Takes over Operation FORMULAR-VERLAG: Succumbs to Bankruptcy GLT NORD-OST: First Creditors' Meeting Set December JARI-BAU: Creditors Have Until Next Month to File Claims KISSEL GMBH: Administrator's Report Out Next Month MWG BIOTECH: Board Confirms Appointment of Dr. Wolfgang Pieken PRO DV: Dissolves Unprofitable Business Division SCARLETT GASTSTATTEN: Gives Creditors Two Weeks to File Claims TORAUTOMATIC KRUSE: Essen Court Appoints Administrator XXX BERLIN: Administrator's Report Out November G R E E C E OLYMPIC AIRWAYS: Accepting Bids for Aircraft Until Next Week I T A L Y ALITALIA SPA: Unions Accept Govt-sponsored Redundancy Program CIT SPA: Bares Recovery Plan Drafted by Bain & Deloitte FINMATICA SPA: Two I.T. Firms Submit Bids PARMALAT FINANZIARIA: Rules Out UBS' Claims on EUR241.6 Mln Deal PARMALAT FINANZIARIA: Nextra Offers EUR160 Mln Settlement S.S. LAZIO: Mulls Another Capital Injection L U X E M B O U R G STOLT-NIELSEN: Sets Conference Call Next Week N E T H E R L A N D S KAPPA BEHEER: Long-term Corporate Rating on CreditWatch ROYAL SHELL: Sells Major Refined Products Pipeline Systems N O R W A Y PETROLEUM GEO-SERVICES: CGG Withdraws Acquisition Offer P O L A N D ELEKTRIM MEGADEX: Investors to Determine Future in Two Weeks R U S S I A AGRO-MONTAZH: Insolvency Manager Takes over Helm AKADEM-MONOLITH-STROY: Files for External Management Bankruptcy ANGARA: Creditors Have Until Next Month to File Claims BELOGORODSKIY EXPERIMENTAL: Under Bankruptcy Supervision BOLSHERECHYE-STROY-1: Omsk Court Appoints Insolvency Manager GRANITE: Court Hires Insolvency Manager to Temporarily Run Biz IRKUTSK-ZHIL-STROY: Proofs of Claim Deadline Expires Next Month KORPUS: Public Auction of Assets Next Week TRUST TYUMEN-GAS-PROM-STROY: Sets Deadline for Proofs of Claim URAL: Chelyabinsk Court Appoints Insolvency Manager YUKOS OIL: Faces New US$1 Billion Tax Bill S L O V A K R E P U B L I C BDV DRUZSTVO: To Start Selling Assets Soon ISTROKAPITAL: Cuts First-half Consolidated Loss S P A I N IZAR: European Commission Extends Deadline to Fix Problem S W E D E N SAS GROUP: Averts Industrial Action with Deal to Increase Wage S W I T Z E R L A N D SWISS INTERNATIONAL: Refers SR Technics Dispute to Arbitration U K R A I N E BEREZNE' AGROPROMTEHNIKA: Creditors' Claims Due Next Week GORLIVKA' METAL: Names Oleksij Davidenko Liquidator KOZYATIN' MACHINE: Proofs of Claim Deadline Set RESOURCES: Court Hires Insolvency Manager to Temporarily Run Biz UKRAINIAN LEASING: Bankruptcy Proceedings Commenced U N I T E D K I N G D O M ACTIVE MANUFACTURING: Hires Liquidator from Moore Stephens ALADDINS DISCOUNT: Calls in Liquidator from UHY Hacker Young A.P. AEROSPACE: Director Banned from Occupying Executive Post ARTHUR FORD: Names Tenon Recovery Administrator ASPIRE INDUSTRIES: Creditors Meeting Set Next Week A THOMAS: Members Agree to Dissolve Company BLUEGRID GROUP: Hires Administrator from Capital Insolvency BOND BROS: Brings in Administrators from Grant Thornton BRINDLE HOMES: Members Opt to Liquidate Assets CORETEC LIMITED: Administrators Put up 'For Sale' Sign CROYDON TRAINING: Liquidator's Final Report Due Next Month DRAYCOTE HOUSEL: Calls Meeting to Hear Liquidator's Update EURODIS ELECTRON: Names Grant Thornton New Auditor FORD COMMUNICATIONS: Appoints Administrators from Tenon Recovery GLOBAL MARINE: Names The MacDonald Partnership Administrator JACK KNIGHT: PricewaterhouseCoopers Takes over Helm J F RATCLIFF: Receivers Hunt for Buyers LAWSON RODWELL: Liquidator to Give Update Next Month LEGENDS LEISURE: Calls First Creditors' Meeting L.S.A. PRESENTATIONS: Brings in Liquidators MERTON HALL: Aquatic Plants Supplier Looking for Buyer NK EUROPE: Members Final Meeting Set November PENNYBEE OF WIMBLEDON: In Administrative Receivership PROFUND HOLDINGS: Creditors' Meeting Next Week ROBOR CARTONS: Receiver Calls Creditors' Meeting SALT N PEPPER: First Liquidation Meeting Slated Next Week SIMS NOMINEES: Calls in Liquidator SLC DRIVERS: Statement of Affairs Out Next Week SPELLBOUND TECHNOLOGY: Final Meeting of Members November THE BAGWASH: May Appoint Liquidator Next Week THE FORD: Hires Tenon Recovery as Administrator WILSON FORD: Calls in Administrator from Tenon Recovery WINCHESTER LONDON: Members Meeting Set Next Month ********* =========== F R A N C E =========== FRANCE-SOIR: Local 'Newsweek' Publisher Dangles EUR4 Mln Offer -------------------------------------------------------------- Press Alliance, publisher of ailing newspaper France Soir, confirmed Monday that Montaigne Press is offering to buy 70% of the mid-market daily, Le Figaro says. Franco-Egyptian businessman Rami Lakah set up the U.K.-registered Montaigne Press with various partners to purposely bid for France Soir. If it goes ahead, the transaction will be in the form of a EUR4 million capital increase. Mr. Lakah is also willing to take on debts incurred from the beginning of the year or a sum not more than EUR4.5 million. His group has until October 19, the date of France Soir's AGM, to secure a deal with Press Alliance. Mr. Lakah owns a stake in Lafayette Presse, which launched a French version of U.S. current affairs magazine 'Newsweek' in January. Despite his claim of being "passionate with French press," Mr. Lakah's interest in the industry is only limited with Lafayette Press. CONTACT: PRESSE ALLIANCE 45 Avenue Victor Hugo 93300 Aubervilliers FRANCE-SOIR 45 Avenue Victor Hugo 93300 Aubervilliers Web site: http://www.francesoir.fr ============= G E R M A N Y ============= EMERGING BIOTECH: Sets Creditors' Meeting Later this Month ---------------------------------------------------------- The district court of Charlottenburg opened bankruptcy proceedings against Emerging Biotech GmbH on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 9, 2004 to register their claims with court-appointed provisional administrator Albers, Lutzowstr. Creditors and other interested parties are encouraged to attend the meeting on October 28, 2004, 10:25 a.m. 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 February 3, 2005, 10:10 a.m. at the district court of Charlottenburg. CONTACT: EMERGING BIOTECH GMBH Sudwestkorso 12 A, 12161 Berlin Albers, Lutzowstr, Insolvency Manager 100, 10785 Berlin DISTRICT COURT OF CHARLOTTENBURG Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218 DARENBERG EUROPAISCHE: Creditors' Claims Due December ----------------------------------------------------- The district court of Charlottenburg opened bankruptcy proceedings against Darenberg Europaische Ingenieurgesellschaft mbH fur Geo-Information & Liegenschaftsmanagement on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 9, 2004 to register their claims with court-appointed provisional administrator Udo Feser. Creditors and other interested parties are encouraged to attend the meeting on October 28, 2004, 10:15 a.m. 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 February 3, 2005, 10:00 a.m. at the district court of Charlottenburg Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: DARENBERG EUROPAISCHE INGENIEURGESELLSCHAFT MBH FUR GEO-INFORMATION & LIEGENSCHAFTSMANAGEMENT Breite Str. 9, 12167 Berlin Udo Feser, Insolvency Manager Uhlandstr. 165/166, 10719 Berlin DELTA DROSCHKENBURO: Under Bankruptcy Administration ---------------------------------------------------- The district court of Berlin-Charlottenburg opened bankruptcy proceedings against DELTA Droschkenburo GmbH on September 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 9, 2004 to register their claims with court-appointed provisional administrator Udo Feser. Creditors and other interested parties are encouraged to attend the meeting on October 28, 2004, 10:30 a.m. 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 February 3, 2005, 10:15 a.m. at the district court of Berlin-Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: DELTA DROSCHKENBURO GMBH Former address: Monumentenstr. 14, 10829 Berlin Udo Feser, Insolvency Manager Uhlandstr. 165/166, 10719 Berlin DR. HELD: Provisional Administrator Takes over Operation -------------------------------------------------------- The district court of Berlin-Charlottenburg opened bankruptcy proceedings against Dr. Held & Mollendorf Verwaltungsgesellschaft mbH & Co. Burger King on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 13, 2004 to register their claims with court-appointed provisional administrator Udo Feser. Creditors and other interested parties are encouraged to attend the meeting on October 28, 2004, 10:20 a.m. 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 February 3, 2005, 10:05 a.m. at the district court of Berlin-Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: DR. HELD & MOLLENDORF VERWALTUNGSGESELLSCHAFT MBH & CO. BURGER KING Einkaufszentren Fonds 2 KG Magazinstr. 15-16, 10179 Berlin Udo Feser, Insolvency Manager Uhlandstr. 165/166, 10719 Berlin FORMULAR-VERLAG: Succumbs to Bankruptcy --------------------------------------- The district court of Berlin-Charlottenburg opened bankruptcy proceedings against Formular-Verlag Purschke + Hensel GmbH on September 16. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 16, 2004 to register their claims with court-appointed provisional administrator Rolf Nacke. Creditors and other interested parties are encouraged to attend the meeting on October 26, 2004, 9:25 a.m. 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 February 15, 2005, 9:25 a.m. at the district court of Berlin-Charlottenburg Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: FORMULAR-VERLAG PURSCHKE + HENSEL GMBH Kanalstrasse 7, 12357 Berlin Phone: 0 30 66 09 01-0 Fax: 0 30 66 09 01-11 E-mail: purschke-hensel@t-online.de Web site: http://www.purschke-hensel.de Rolf Nacke, Insolvency Manager Gross-Berliner-Damm 73 c, 12487 Berlin GLT NORD-OST: First Creditors' Meeting Set December --------------------------------------------------- The district court of Berlin-Charlottenburg opened bankruptcy proceedings against GLT Nord-Ost GmbH on September 13. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until January 7, 2005 to register their claims with court-appointed provisional administrator Joachim Voigt. Creditors and other interested parties are encouraged to attend the meeting on December 9, 2004, 9:30 a.m. 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 February 3, 2005, 9:10 a.m. at the district court of Berlin-Charlottenburg Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: GLT NORD-OST GMBH Buhringstr. 12, 13086 Berlin Phone: (0 35 63) 39 03 - 0 Fax: (0 35 63) 39 03 - 99 Web site: http://www.gltnordost.de Joachim Voigt, Insolvency Manager Rankestrasse 33, 10789 Berlin JARI-BAU: Creditors Have Until Next Month to File Claims -------------------------------------------------------- The district court of Leipzig opened bankruptcy proceedings against Jari-Bau GmbH on September 15. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until November 8, 2004 to register their claims with court-appointed provisional administrator Dr. Nikolaus Schmidt. Creditors and other interested parties are encouraged to attend the meeting on December 7, 2004, 10:00 a.m. at the district court of Leipzig Saal 145 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: JARI-BAU GMBH Breisgaustr. 77, 04209 Leipzig Contact: Andreas Such (AG Leipzig, HRB 18519) Former address: Defoestr. 24e, 04159 Leipzig Dr. Nikolaus Schmidt, Insolvency Manager Magdeburger Strasse 23, 06112 Halle KISSEL GMBH: Administrator's Report Out Next Month -------------------------------------------------- Creditors and other parties interested in publishing firm Kissel GmbH & Co KG are encouraged to attend a meeting on November 10, 2004, 11:00 a.m. at the district court of Koln for the administrator's 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. Kissel has been under bankruptcy proceedings since September 1. CONTACT: KISSEL GMBH & CO KG Graditzer Str. 81, 50735 Koln PETER KISSEL GMBH Graditzer Str. 81, 50735 Koln Contact: Christian Grabow, Manager Glockenstr. 10, 50171 Kerpen Wolfram Jahn, Insolvency Manager Durener Str. 270, 50935 Koln Phone: 4308758 Fax: +492214308759 DISTRICT COURT OF KOLN Hauptstelle, Luxemburger Strasse 101, 50939 Koln 13. Etage, Saal 1311. MWG BIOTECH: Board Confirms Appointment of Dr. Wolfgang Pieken -------------------------------------------------------------- In its most recent session, the Supervisory Board of MWG Biotech AG passed the resolution giving the management team of Dr. Wolfgang Pieken and Dr. Volker Muschalek control of the company. The third position in the Management Board will not be filled again. Dr. Wolfgang Pieken will take over the function of Speaker of the Management Board. He is responsible for finances, research and development, sales and marketing, and IR/PR. Dr. Volker Muschalek's responsibilities cover operations, human resources and IT, as well as the India business. "We are happy to confirm the final composition of MWG Biotech AG's Management Board, knowing that all competencies required to lead the Company into a profitable future are represented in this team," says Bernd Aundrup, Chairman of the Supervisory Board. * * * In August MWG Biotech announced that Mr. Thomas Becker resigned from his position as Chairman of the Company's Management Board. The Supervisory Board regretted Thomas Becker's decision but emphasized: "The course is set for MWG Biotech's future." "Its international marketing and sales structures have been reorganized, its costs reduced and its margins considerably increased," explained Bernd Aundrup, Chairman of the Supervisory Board. The goals set for the year 2004 (a moderate increase in sales, a positive EBITDA and a break-even cash flow) are still realistic in the opinion of both the Supervisory Board and the Management Board. The turnover of MWG Biotech AG (WKN: 730010), Ebersberg, in the second quarter was below the respective turnover in 2003. The turnover of the first six months of 2004 was EUR17.6 million after EUR22.6 million in the same period 2003. The 22.2% decline is, among other reasons, due to the fact that the restructuring of the company's marketing and sales organization -- as was to be expected -- did not yet contribute positively to turnover. Nevertheless, the first half of 2004 was characterized by a continuous line of positive announcements about new products and services, cooperation and distribution agreements, which, however, did not yet contribute to turnover. CONTACT: MWG-BIOTECH AG Investor Relations Anzinger Str. 7a D-85560 Ebersberg Phone: +49 (0)8092 8289-985 Fax: +49 (0)8092 8289-514 E-mail: ir@mwgdna.com PRO DV: Dissolves Unprofitable Business Division ------------------------------------------------ PRO DV Software AG, the I.T. specialist for process-enhancing and geo-based business solutions, is continuing to pursue its target of higher profitability on the its way to the turnaround. After the slow progress made by its Industry Business Division, which depressed PRO-DV's consolidated earnings for the half-year with a loss EUR0.68 million on total revenues of EUR0.74 million, it was decided to close down this division's activities with immediate effect. The managers of the Industry Division are organizing a management buy-out involving the formation of a new company through which they will continue the division's activities. CONTACT: PRO DV Christian Niederhagemann, Investor Relations Manager Phone: +49 231 9792 341 Fax: +49 231 9792 200 E-mail: ir@prodv.de Web site: http://www.prodv.de SCARLETT GASTSTATTEN: Gives Creditors Two Weeks to File Claims -------------------------------------------------------------- The district court of Dusseldorf opened bankruptcy proceedings against SCARLETT Gaststatten und Veranstaltungs GmbH on September 17. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 18, 2004 to register their claims with court-appointed provisional administrator Georg Kreplin. Creditors and other interested parties are encouraged to attend the meeting on November 8, 2004, 9:35 a.m. at the district court of Dusseldorf 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: SCARLETT GASTSTATTEN UND VERANSTALTUNGS GMBH Ludenberger Str. 64, 40629 Dusseldorf Contact: Miriam Meister, Manager Muhlenbergweg 4, 40629 Dusseldorf Georg Kreplin, Insolvency Manager Berliner Allee 21, 40212 Dusseldorf. DISTRICT COURT OF DUSSELDORF Hauptstelle, Mulenstrasse 34, 40213 Dusseldorf, 3.OG Altbau, A 388 TORAUTOMATIC KRUSE: Essen Court Appoints Administrator ------------------------------------------------------ The district court of Essen opened bankruptcy proceedings against Torautomatic Kruse GmbH on September 17. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 18, 2004 to register their claims with court-appointed provisional administrator Henning Bungart. Creditors and other interested parties are encouraged to attend the meeting on November 2, 2004, 10:40 a.m. at the district court of Essen 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: TORAUTOMATIC KRUSE GMBH Breloher Steig 1, 45279 Essen Phone: +49 (0) 201 848 200 Contact: Udo Voit, Manager Auf'm Steinacker 28, 45239 Essen Henning Bungart, Insolvency Manager Zweigertstrasse 43, 45130 Essen Phone: (0201) 793613 Fax: 777516 DISTRICT COURT OF ESSEN Hauptstelle, Zweigertstr. 52, 45130 Essen 2. OG, gelber Bereich, Saal 291 XXX BERLIN: Administrator's Report Out November ----------------------------------------------- The district court of Berlin-Charlottenburg opened bankruptcy proceedings against XXX Berlin Pro Audio Handels-GmbH on September 14. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until December 10, 2004 to register their claims with court-appointed provisional administrator Joachim Voigt. Creditors and other interested parties are encouraged to attend the meeting on November 3, 2004, 10:45 a.m. 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 February 2, 2005, 10:30 at the district court of Charlottensburg Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218. CONTACT: XXX BERLIN PRO AUDIO HANDELS-GMBH Grossbeerenstr. 71,10963 Berlin Phone: +49 30 627931-0 Fax: +49 30 627931-92 E-mail: info@3-xberlin.de Web site: http://www.3-xberlin.de Joachim Voigt, Insolvency Manager Rankestrasse 33, 10789 Berlin =========== G R E E C E =========== OLYMPIC AIRWAYS: Accepting Bids for Aircraft Until Next Week ------------------------------------------------------------ Olympic Airways Services S.A. Invitation for Tenders Ref: S-5/A300/2004 Olympic Airways Services S.A. invites tenders for the sale of two (2) Aircraft A300-605R equipped with GE CF6-80C2A5 Engines (A/C MSN 632 (year 1992) 33,498 Flight hours/14,466 Flight cycles; A/C/MSN 696 (year 1993) 30,334 Flight hours/13,093 flight cycles) Note: FH and FC as per August 31, 2004 The above will be sold in "as is where is" condition in a package deal. The condition of the above is outlined in the detailed Tender Document. Offers will be accepted only from individuals or corporations; brokers are excluded. Interested parties can inspect the above, upon request and obtain Tender Documents from: Mr. Kostas Davoulos Technical Operations Department Phone: +30 210 356 2731 Fax: +30 210 356 2741 Sealed envelopes should be submitted to these addresses, clearly indicating the reference below, no later than October 13, 2004 5:00 p.m. local time. In cases of: (a) mistakes and/or omissions of the indication on the envelopes or (b) delayed submission, tenders will not be accepted. The airline reserves the right to declare the Tender fruitless or the submitted offers not beneficial, without any further justification. The present invitation will be ruled by the Greek Law and in case of dispute that may arise from the present invitation, the courts of Athens will be exclusively competent. Tender S-5/A300/2004 Olympic Airways Services S.A. General Manager Technical Operations Department Athens International Airport Sparta 190 19 Greece CONTACT: OLYMPIC AIRWAYS Phone: 800 223 1226 (U.S./Canada) Web site: http://www.olympic-airways.gr ========= I T A L Y ========= ALITALIA SPA: Unions Accept Govt-sponsored Redundancy Program ------------------------------------------------------------- Labor unions on Wednesday agreed to accept the state-backed unemployment package for around 3,700 employees of Alitalia, paving the way for a needed rescue aid, Reuters reports. Eight of the carrier's nine unions approved the deal after a long meeting with government ministers and company executives. The session was adjourned until October 13. Under the pact, those facing lay-offs are to receive two years of handouts under a so-called "cassa integrazione" program from the government. The workers will be allowed to stay at home while remaining legal employees. Afterwards, they will be put under a so-called "mobilita" program for up to three more years. They will be removed from Alitalia's books, but continue to receive part of their original salaries. The government, which holds 62% of the carrier, is to shoulder most of the bill, which according to Alitalia Chief Executive Giancarlo Cimoli amounts to around EUR300 million. The agreement is necessary for the airline to secure a EUR400 million (US$492 million) emergency loan needed to stay afloat. Alitalia plans to spin off non-core ground operations into a separate company, bringing with it most of the group's debt. This is expected to render the firm's flight arm more attractive to investors, the report said. Rival low-cost airlines, however, plan to block this move. In a letter to the European Commission recently, the group said: "Asymmetrical distribution of the original company's liabilities would be tantamount to illegal state aid." In another development, auditor Deloitte & Touche has yet to approve Alitalia's first-half accounts. The board hopes this will come by October 13. Alitalia previously said that losses for the period reached around EUR330 million. Its unaudited results for 2003 revealed a net loss of EUR519.8 million. 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 CIT SPA: Bares Recovery Plan Drafted by Bain & Deloitte ------------------------------------------------------- Accountants of troubled tour operator Compagnia Italiana Turismo (CIT) submitted Tuesday their business recovery plan to creditor banks and development fund Sviluppo Italia, Il Sole 24 Ore. The plan is reportedly incomplete because Bain & Deloitte, the accounting firm hired to draft the plan, is still waiting for CIT to release its interim results. Once the plan commences, CIT expects its shareholders to subscribe to a EUR38 million capital increase. Hotel group Accor is so far the only shareholder that has committed to back this transaction. CIT's leading shareholders include vice-chairman Gianvittorio Gandolfi, with 39.4%; European Development Capital Limited Partnership, 14.6%; and Accor, 10%. CONTACT: COMPAGNIA ITALIANA TURISMO S.p.A. Via A. Saffi,12 - Milano C.C.I.A.A. di Milano Web site: http://www.citspa.it FINMATICA SPA: Two I.T. Firms Submit Bids ----------------------------------------- IT groups Opera21 and Centro Servizi Elettronici (CSE) have expressed interest in acquiring trouble software firm Finmatica, Il Sole 24 Ore says. Both Opera21 and Bologna-based CES are reportedly planning to submit separate bids for the ailing e-business solutions firm. Finmatica managing director Massimo Brunelli said the group's board of directors met yesterday and Tuesday to discuss updates concerning its future. Finmatica, which will have its annual general meeting today, might be placed into administration should it be unable to locate a buyer. CONTACT: FINMATICA SPA Via Cannizzaro 83/A 00156 Roma Phone: +39 06/439911 Fax: +39 06/43991259 Web site: http://www.finmatica.com PARMALAT FINANZIARIA: Rules Out UBS' Claims on EUR241.6 Mln Deal ---------------------------------------------------------------- Parmalat Finanziaria's court-appointed administrator has rejected a claim on currency contracts lodged by Switzerland's UBS AG, Bloomberg News reports citing court documents. Enrico Bondi said Europe's largest bank was not qualified for profits on the options. "He's relying on a general principle in all Italian bankruptcy law," said Paolo Criscione, a partner in the Milan office of Lovells. In Italy, the trustee or administrator is given the sole power to decide on compensation. Parmalat's former managers sold five currency contracts worth EUR241.6 million (US$297.6 million) to the bank within the five months prior to Parmalat's bankruptcy filing in December. The options are under investigation on suspicions they were used to hide Parmalat's losses and debts. Parmalat raised EUR120 million from sales of options and swaps to banks in 2003. Analysts say the firm could have made the transactions not really to cover currency risk or exchange-rate fluctuations, but just to raise cash. UBS disputed the speculation, the report said. UBS is not among the defendants facing charges in Milan court for misrepresentation and market-rigging. Mr. Bondi has rejected a total of EUR61.4 million claims from the bank, including the UBS options. UBS did not comment on whether it would press its claim in court. Mr. Bondi declined to comment. PARMALAT FINANZIARIA: Nextra Offers EUR160 Mln Settlement --------------------------------------------------------- A unit of Banca Intesa on Wednesday agreed to pay EUR160 million to settle out of court a questionable sale of Parmalat Finanziaria's bonds last year, stuff.co.nz reports. Nextra Investment Management agreed to pay in exchange for a promise from the dairy group not to challenge its acquisition and quick resale of EUR300 million of Parmalat bonds six months before Parmalat collapsed. The transaction has been under investigation for its timing. Parmalat administrator Enrico Bondi is supporting the settlement. He said he will present the offer to the board overseeing Parmalat's insolvency and to the Industry Ministry in the next five days. If approved, the settlement will be accepted within another three days. Intesa's move goes contrary to the statement of its chief executive in April. Corrado Passera then said he is sure Italy's biggest bank is safe from potential claims from Parmalat. It maintained innocence in its dealings with Parmalat. Mr. Bondi is suing former Parmalat bankers Citigroup, UBS, Credit Suisse First Boston, Deutsche Bank, and auditors Deloitte & Touche and Grant Thornton to recover damages for the collapse of the company. All have denied wrongdoing. S.S. LAZIO: Mulls Another Capital Injection ------------------------------------------- Financially troubled football club SS Lazio may seek another recapitalization after holding a rights issue in July, says Il Sole 24 Ore, citing a board of directors statement. The club also called off Tuesday its shareholder meeting, after it failed to reach a quorum. The club rescheduled the meeting in mid-November. CONTACT: S.S. LAZIO S.p.A. Via di Santa Cornelia 1000 00060 Formello Phone: +39 06/97.607.111 Fax: +39 06/90.40.00.22 Web site: http://www.sslazio.it =================== L U X E M B O U R G =================== STOLT-NIELSEN: Sets Conference Call Next Week --------------------------------------------- Stolt-Nielsen S.A. (NasdaqNM: SNSA; Oslo Stock Exchange: SNI) will hold a conference call to discuss the third quarter 2004 results on Wednesday, October 13, 2004 at 10:00 a.m. EDT (3:00 p.m. BST). Participating in the call will be: (a) Mr. Niels G. Stolt-Nielsen - Chief Executive Officer, Stolt- Nielsen S.A. (b) Mr. Jan Chr. Engelhardtsen - Chief Financial Officer, Stolt- Nielsen S.A. (c) Mr. Otto H. Fritzner - Chief Executive Officer, Stolt- Nielsen Transportation Group Anyone wishing to participate in the call should dial +1 800-289-0468 (in U.S.) or +1 913-981-5517 (outside U.S.) at that time. Phone lines will open 10 minutes before the call. If you cannot participate in this call there is a Postview facility (a taped recording of the conference call) available directly after the conference call until 5:00 p.m. EDT on Thursday, October 14, 2004. For access dial +1 888-203-1112 (in U.S.) or +1 719-457-0820 (outside U.S.) and quote the call reservation number: 806347. Alternatively, a Live Web cast conference call is available via http://www.stolt-nielsen.comcommencing on Wednesday, October 13, 2004 at 10:00 a.m. EDT (3:00 p.m. BST). A playback of the conference call commences on Wednesday, October 13, 2004 after 12:00 noon EDT (5:00 p.m. BST). CONTACT: STOLT-NIELSEN Richard M. Lemanski 8 Sound Shore Drive Greenwich, CT 06836 U.S.A. Phone: +1 203 625 3604 Fax: +1 203 625 3525 E-mail: rlemanski@stolt.com ===================== N E T H E R L A N D S ===================== KAPPA BEHEER: Long-term Corporate Rating on CreditWatch ------------------------------------------------------- Standard & Poor's Ratings Services placed its 'BB-' long-term corporate credit rating on Netherlands-based paper and packaging company Kappa Beheer B.V., a holding company in the Kappa Packaging group, on CreditWatch with developing implications. The CreditWatch placement follows the group's confirmation that its current owners, private equity firms CVC and Cinven, are in preliminary discussions regarding a number of strategic alternatives for Kappa Packaging, including a potential IPO, a sale to industrial or financial buyers, or a recapitalization. "As the discussions are only at a very early stage, the potential impact on the credit quality of Kappa Packaging is uncertain," said Standard & Poor's credit analyst Andreas Kindahl. The various options being considered could have different effects on the future composition of the group, including effects on Kappa Packaging's business and financial profile. Standard & Poor's will follow developments at Kappa Packaging closely, and will update its position if a concrete decision is announced or other important information is provided. According to Kappa Packaging, the completion of any transaction would be expected during the first half of 2005. The group's net debt at June 30, 2004, was about EUR1.8 billion. Kappa Packaging is one of the largest European producers of containerboard (linerboard and fluting), solid board, corrugated board, and solid board packaging. 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 these 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 Group E-mail Address CorporateFinanceEurope@standardandpoors.com ROYAL SHELL: Sells Major Refined Products Pipeline Systems ---------------------------------------------------------- Shell Oil Products U.S. completed the sale of the company's Mid-Continent refined products pipeline system to Magellan Midstream Partners, L.P., and the sale of the company's Midwest refined products pipeline system to Buckeye Partners, L.P. Shell has received proceeds from the two transactions totaling just over US$1 billion. The Mid-Continent refined products pipeline system, being acquired by Magellan Midstream Partners, L.P. for US$490 million, is comprised of pipeline and storage assets located in Texas, Oklahoma, Kansas and Colorado. Major assets in the system include the Orion Pipeline, Hearne Pipeline, Chase Pipeline, and Cimarron Pipeline. These pipeline assets, along with associated distribution terminal and storage assets, form an integrated system that carries refined products from the U.S. Gulf Coast refineries to West Texas and the Great Plains region. Major markets include Dallas, El Paso, and Denver. The Midwest refined products pipeline system, being acquired by Buckeye Partners, L.P. for US$517 million, is comprised of pipeline and storage assets located in Illinois, Indiana, Ohio, Michigan and Wisconsin. Major assets included in the sale consist of the East Line Pipeline, North Line Pipeline, St. Louis ATF Pipeline, St. Louis 6-inch Pipeline and the 2Rivers Pipeline. These pipeline assets, along with 24 distribution terminal assets, form an integrated system that carries refined products from primarily U.S. mid-continent refineries to points throughout the Midwest region. Major markets include Chicago, St. Louis, Cleveland, Indianapolis and Cincinnati. "The sale of these assets represents one of several strategic decisions we have made to streamline our businesses. The goal of our efforts is to further enhance our competitiveness, maximize the operational efficiency of the organization, and build upon our improving financial performance," said Lynn Elsenhans, CEO of Shell Oil Products U.S. Shell remains committed to marketing the Shell brand in West Texas, the Great Plains region, and the Midwest through the company's retail and wholesale networks. Contractual obligations to our customers will continue to be honored. 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 =========== N O R W A Y =========== PETROLEUM GEO-SERVICES: CGG Withdraws Acquisition Offer ------------------------------------------------------- Petroleum Geo-Services ASA (OSE: PGS; OTC: PGEOY) announced that Compagnie Generale de Geophysique (CGG) withdrew its prior proposal to acquire PGS' geophysical business. As previously disclosed by the Company on September 1, 2004, CGG made a conditional proposal to acquire PGS' geophysical business for US$900 million, consisting of US$800 million in cash and US$100 million in newly issued shares of CGG common stock. The CGG proposal was subject to fulfillment of various conditions including, among other things, satisfactory completion of due diligence and financing arrangements. Based on evaluations performed by PGS management and financial advisors, PGS' Board of Directors and management rejected the CGG proposal as inadequate in terms of price and other conditions. CGG did not revise its offer prior to withdrawing it. PGS continues to believe in the potential benefits of seismic industry restructuring and will continue to pursue solutions to enhance profitability and value to PGS shareholders. Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSOs) and owns a small oil and gas company. PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services visit http://www.pgs.com. CONTACT: PETROLEUM GEO-SERVICES Ola Bosterud Sam R. Morrow Svein T. Knudsen Phone: +47 6752 6400 Suzanne M. McLeod Phone: +1 281-589-7935 =========== P O L A N D =========== ELEKTRIM MEGADEX: Investors to Determine Future in Two Weeks ------------------------------------------------------------ Shareholders of Elektrim Megadex S.A. are to decide this month whether to re-capitalize the company or close it down, according to Warsaw Business Journal. The power engineering and construction firm is in need of at least PLN28 million to continue operations. Its debt of PLN53 million -- which is subject of a dispute with the Treasury Ministry -- is almost twice the amount of share capital. Shareholders will have to decide whether to continue the business or not at a meeting on October 22. Commenting on the firm's row with the Treasury Ministry, Tomasz Holc, Megadex's president, said: "We are going to win the court case, but we are not sure how long this will take. However, the fact we have not yet paid our tax liabilities makes continuing our operations impossible." Megadex specializes in conducting investments in power plants has been involved in building the Patnow II power plant. =========== R U S S I A =========== AGRO-MONTAZH: Insolvency Manager Takes over Helm ------------------------------------------------ The Arbitration Court of Orenburg region has commenced bankruptcy proceedings against Agro-Montazh after finding the close joint stock company insolvent. The case is docketed as A47-9324/2003-14GK. Ms. T. Shumskaya has been appointed insolvency manager. Creditors may submit their proofs of claim to 460001, Russia, Orenburg, Post User Box 1515. CONTACT: AGRO-MONTAZH Russia, Orenburg region, Sol-Iletsk, Gontarenko Str. 1A Ms. T. Shumskaya Insolvency Manager 460001, Russia, Orenburg, Post User Box 1515 AKADEM-MONOLITH-STROY: Files for External Management Bankruptcy --------------------------------------------------------------- The Arbitration Court of Khanty-Mansiyskiy autonomous region has commenced external management bankruptcy procedure on LLC Akadem-Monolith-Stroy. The case is docketed as A75-141-B/04. Ms. E. Pugacheva has been appointed external insolvency manager. CONTACT: AKADEM-MONOLITH-STROY 628000, Russia, Khanty-Mansiyskiy autonomous region, Khanty-Mansiysk, Lenina Str. 106A Ms. E. Pugacheva External Insolvency Manager 628412, Russia, Khanty-Mansiyskiy autonomous region, Surgut, Post User Box 583 ANGARA: Creditors Have Until Next Month to File Claims ------------------------------------------------------ The Arbitration Court of Irkutsk region has commenced bankruptcy proceedings against Angara after finding the open joint stock company insolvent. The case is docketed as A19-17286/03-34. Mr. S. Maksimov has been appointed insolvency manager. Creditors have until November 10, 2004 to submit their proofs of claim to 664029, Russia, Irkutsk, Post User Box 66. CONTACT: Mr. S. Maksimov Insolvency Manager 664029, Russia, Irkutsk, Post User Box 66 BELOGORODSKIY EXPERIMENTAL: Under Bankruptcy Supervision -------------------------------------------------------- The Arbitration Court of Belgorod region has commenced bankruptcy supervision procedure on OJSC Belogorodskiy Experimental Mechanical Factory. The case is docketed as A08-7658/04-18. Ms. O. Korolyeva has been appointed temporary insolvency manager. Creditors have until October 10, 2004 to submit their proofs of claim to 167000, Russia, Komi republic, Syktyvkar, Pervomayskaya Str. 149. A hearing will take place at the Arbitration Court of Belgorod region on November 19, 2004, 2:00 p.m. CONTACT: BELOGORODSKIY EXPERIMENTAL MECHANICAL FACTORY Russia, Belgorod region, Stroitel, 2nd Zavodskaya Str. 19 Ms. O. Korolyeva Temporary Insolvency Manager 167000, Russia, Komi republic, Syktyvkar, Pervomayskaya Str. 149 BOLSHERECHYE-STROY-1: Omsk Court Appoints Insolvency Manager ------------------------------------------------------------ The Arbitration Court of Omsk region has commenced bankruptcy proceedings against Bolsherechye-Stroy-1 after finding the open joint stock company insolvent. The case is docketed as K-E278/01. Mr. V. Belkin has been appointed insolvency manager. Creditors have until November 10, 2004 to submit their proofs of claim to 644010, Russia, Omsk, Leningradskaya Square, 2A, room 5. CONTACT: BOLSHERECHYE-STROY-1 646670, Russia, Omsk region, Bolsherechye, Krasnoarmeyskaya Str. 46 Mr. V. Belkin Insolvency Manager 644010, Russia, Omsk, Leningradskaya Square, 2A, room 5 GRANITE: Court Hires Insolvency Manager to Temporarily Run Biz -------------------------------------------------------------- The Arbitration Court of Kareliya republic has commenced bankruptcy proceedings against Granite after finding the open joint stock company insolvent. The case is docketed as A26-2380/04-18. Mr. S. Gromov has been appointed insolvency manager. Creditors have until October 10, 2004 to submit their proofs of claim to 185035, Russia, Kareliya republic, Petrozavodsk, Post User Box 35. CONTACT: GRANITE 185035, Russia, Kareliya republic, Petrozavodsk, Shotmana Str. 13 Mr. S. Gromov Insolvency Manager 185035, Russia, Kareliya republic, Petrozavodsk, Post User Box 35 IRKUTSK-ZHIL-STROY: Proofs of Claim Deadline Expires Next Month --------------------------------------------------------------- The Arbitration Court of Irkutsk region has commenced bankruptcy proceedings against Irkutsk-Zhil-Stroy after finding the close joint stock company insolvent. The case is docketed as A19-8305/02-11-49. Mr. P. Prudkin has been appointed insolvency manager. Creditors have until November 10, 2004 to submit their proofs of claim to 644007, Russia, Irkutsk region, Irkutsk, Dzerzhinskogo Str. 35. CONTACT: IRKUTSK-ZHIL-STROY 644007, Russia, Irkutsk region, Irkutsk, Dzerzhinskogo Str. 35 Mr. P. Prudkin Insolvency Manager 644007, Russia, Irkutsk region, Irkutsk, Dzerzhinskogo Str. 35 KORPUS: Public Auction of Assets Next Week ------------------------------------------ The bidding organizer of Korpus will sell the firm's properties on October 13, 2004, 12:00 noon. It will be held at 410600, Russia, Saratov, Kutyakova Per. 5, the assembly hall. Up for sale are seven assorted constructions collectively valued RUB5 million. Preliminary examination and reception of bids are done until October 12, 2004. A list of documentary requirements for participants is available at 410600, Russia, Saratov, Mirniy Per. 5, room 5. To participate, bidders must deposit an amount equivalent to 20% of the starting price to the settlement account 40702810100000000081 in CJSC ACB Volgoinvestbank, BIC 046311817, correspondent account 30101810400000000817, TIN 6455025472 on or before October 12, 2004. CONTACT: KORPUS 410600, Russia, Saratov, im. Osipova V.I. Str. 1 Bidding Organizer 410600, Russia, Saratov, Mirniy Per, 5 Phone: (8452) 735498 TRUST TYUMEN-GAS-PROM-STROY: Sets Deadline for Proofs of Claim -------------------------------------------------------------- The Arbitration Court of Tyumen region has commenced bankruptcy proceedings against Trust Tyumen-Gas-Prom-Stroy after finding the limited liability company insolvent. The case is docketed as A70-288/3-04. Mr. A. Kazantsev has been appointed insolvency manager. Creditors have until November 10, 2004 to submit their proofs of claim to 625026, Russia, Tyumen, Respubliki Str. 143A, office 1105. CONTACT: TRUST TYUMEN-GAS-PROM-STROY Russia, Tyumen, 6th Km Velizhanskogo Trakta Mr. A. Kazantsev Insolvency Manager 625026, Russia, Tyumen, Respubliki Str. 143A, Office 1105 Phone: 31-37-76 URAL: Chelyabinsk Court Appoints Insolvency Manager --------------------------------------------------- The Arbitration Court of Chelyabinsk region has commenced bankruptcy proceedings against Ural (TIN 7443000073) after finding the close joint stock company insolvent. The case is docketed as A76-22178/03-48-486. Mr. I. Bulatov has been appointed insolvency manager. Creditors have until November 10, 2004 to submit their proofs of claim to 457246, Russia, Chelyabinsk region, Chesmenskiy region, Novoukrainskiy. CONTACT: URAL 457246, Russia, Chelyabinsk region, Chesmenskiy region, Novoukrainskiy Mr. I. Bulatov Insolvency Manager 457246, Russia, Chelyabinsk region, Chesmenskiy region, Novoukrainskiy YUKOS OIL: Faces New US$1 Billion Tax Bill ------------------------------------------ Russian tax authorities have served Yuganskneftegaz, Yukos Oil's main production unit, a back tax bill of RUB27.8 billion (US$951 million), including penalties for 2002, reports say. The amount will add to Yukos' US$7.5 billion in back taxes for 2000 and 2001. Yukos has so far paid about US$2.5 billion of the total. The unit is under threat of losing its operating licenses depending on the findings of the Ministry of Natural Resources. Ministry officials are to meet today to decide on the matter. The cancellation of the licenses could lower the value of the unit, which is being evaluated for a possible sale to cover Yukos' tax liabilities. Analysts say the government is keen at keeping the value of Yuganskneftegaz up to please foreign investors and shareholders, but not too high so that it could be sold to a state-friendly oil and gas concern, possibly Rosneft or Surgutneftegas. It is believed Dresdner Kleinwort Benson, the state-appointed evaluator of the asset, will value Yuganskneftegas for auction at a price of US$15 billion to US$17 billion. ============================= S L O V A K R E P U B L I C ============================= BDV DRUZSTVO: To Start Selling Assets Soon ------------------------------------------ Bankrupt non-bank institution Bonifikacny Drukos Vynos (BDV Druzstvo) will start selling its assets after creditors validate the receiver's sale plan, Hospodarske Noviny says. Creditors ruled Tuesday that the sale plan of official receiver Tatiana Sumichrastova was valid in form. The plan was deemed valid without voting, after only 1,582 creditors or 9.7% of all registered creditors attended the Tuesday meeting. A 30% quorum is required for a proposal to be ruled valid. Tuesday's meeting was the second time the quorum was not met. ISTROKAPITAL: Cuts First-half Consolidated Loss ----------------------------------------------- Bratislava-based financial firm Istrokapital was able to improve it first-half results by 79% after booking only SKK27 million in losses in 2004, Hospodarske Noviny says. The company was able to post SKK11 million in profits, but this was offset by SKK37 in operating loss. Istrokapital's first-half revenues from sale of securities and deposits fell by 60.9% to SKK287 million. The company's sold securities and deposits dropped from SKK728.1 million in the first six months of 2003 to SKK226 million for the first half of 2004, according to Bratislava Stock Exchange. ========= S P A I N ========= IZAR: European Commission Extends Deadline to Fix Problem --------------------------------------------------------- European competition commissioner Mario Monti gave troubled shipbuilder Izar until the end of the year to find a way out of its current financial fix, El Pais says. Enrique Martinez Robles, chairman of Sociedad Estatal de Participaciones Industriales (SEPI), and trade unions welcomed the extension but differed on their views regarding plans for the troubled shipbuilder. Mr. Martinez Robles insisted Izar has no other choice but to declare bankruptcy once the new deadline expires. On the other hand, unions were optimistic of other options and have expressed surprise on Mr. Monti's support for the plan to separate Izar's military and civilian units. CONTACT: IZAR Velazquez Street 132 28006 Madrid Spain Phone: +34 91 335 84 00 Fax: +34 91 335 86 52 E-mail: izar@izar.es Web site: http://www.izar.es SOCIEDAD ESTATAL DE PARTICIPACIONES INDUSTRIALES Velasquez, 134 28006 Madrid, Spain Phone: +34-91-396-10-00 Fax: +34-91-562-87-89 Web site: http://www.sepionline.com =========== S W E D E N =========== SAS GROUP: Averts Industrial Action with Deal to Increase Wage -------------------------------------------------------------- SAS Group agreed with the Swedish Transport Workers' Union, after the union had given notice of industrial action on October 11. The agreement will result in increased personnel costs that will reduce SAS' competitive possibilities in the areas of baggage handling, ramp services and technical maintenance. SAS Group CEO Jorgen Lindegaard commented: "We have succeeded in signing a new collective agreement with 38 out of 39 trade unions to adapt SAS' cost structure to external conditions. On behalf of SAS employees, I regret that we did not succeed in achieving such an agreement with the Transport Workers' Union." SAS Group management is now conducting a review of the operations included in the new agreement with the Transport Workers' Union. The consequences of the new agreement could mean the termination or divestment of certain operations within this area. In its negotiations with the Transport Workers' Union, SAS submitted a proposal for a transition to the National Agreement for Civil Aviation. This industry agreement applies to other airlines and ground handling companies that are members of the Swedish Air Transport Employers Association. SAS offered interim rules for a transition to the National Agreement that included work hours and compensation for unsociable hours. SAS management has established that there was no willingness on the part of the Transport Workers' Union to permit a transition to the National Agreement that would have resulted in the same conditions for SAS as other companies have within the Transport Workers' Union's area of agreement. CONTACT: SAS GROUP Bertil Ternert, Director Corporate Communications Phone: +46 8 7972081 or Phone: +46 8 7974893 ===================== S W I T Z E R L A N D ===================== SWISS INTERNATIONAL: Refers SR Technics Dispute to Arbitration -------------------------------------------------------------- Swiss International Air Lines Ltd. and SR Technics Switzerland have referred their dispute over the interpretation of their present "full-support" maintenance contract to an arbitration process subject to Rules of Arbitration of the International Chamber of Commerce (ICC). The issues to be referred to the court are essentially of a commercial nature. Both parties will continue to fully observe the terms and conditions of their present maintenance contract, thereby ensuring that the high safety standards of the SWISS Airbus fleets, which are under SR Technics' care, are maintained throughout these proceedings. Despite the ongoing arbitration proceedings, SWISS and SR Technics will work closely together in order to solve the conflict in a mutually acceptable fashion. The arbitration process may take some time. In view of this, the parties have agreed not to comment on it until further notice. CONTACT: SWISS INTERNATIONAL Corporate Communications P.O. Box, CH-4002 Basel Phone: +41 (0) 848 773 773 Fax: +41 61 582 35 54 E-mail: communications@swiss.com Web site: http://www.swiss.com ============= U K R A I N E ============= BEREZNE' AGROPROMTEHNIKA: Creditors' Claims Due Next Week --------------------------------------------------------- The Economic Court of Rivne region commenced bankruptcy proceedings against OJSC Berezne' Agropromtehnika (code EDRPOU 03760125) on August 21, 2004 after finding the open joint stock company insolvent. The case is docketed as 4/37. Governing of Pension fund of Ukraine in Berezne district has been appointed liquidator/insolvency manager. The company holds account number 26003619 at JSPPB Aval, Rivne branch, MFO 333227. Creditors have until October 15, 2004 to submit their proofs of claim to: (a) BEREZNE' AGROPROMTEHNIKA 34600, Ukraine, Rivne region, Berezne, Andriyivska Str. 66 (b) GOVERNING OF PENSION FUND OF UKRAINE IN BEREZNE DISTRICT Liquidator/Insolvency Manager 34600, Ukraine, Rivne region, Berezne, Andriyivska Str. 48 (c) ECONOMIC COURT OF RIVNE REGION 33001, Ukraine, Rivne region, Yavornitski Str. 59 GORLIVKA' METAL: Names Oleksij Davidenko Liquidator --------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy proceedings against CJSC Gorlivka' Plant of Reinforced Metal Mine Fastening (code EDRPOU 00176756) on August 25, 2004 after finding the close joint stock company insolvent. The case is docketed as 5/252 B. Mr. Oleksij Davidenko (License Number AA 000250) has been appointed liquidator/insolvency manager. The company holds account number 26004200031575 at Ukrsocbank, Gorklivka branch, MFO 334088. Creditors have until October 15, 2004 to submit their proofs of claim to: (a) GORLIVKA' PLANT OF REINFORCED METAL MINE FASTENING 83613, Ukraine, Donetsk region, Gorlivka, Vavilov Str. 37 (b) ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 KOZYATIN' MACHINE: Proofs of Claim Deadline Set ----------------------------------------------- The Economic Court of Vinnitsya region commenced bankruptcy proceedings against Kozyatin' Machine-Technological Station (code EDRPOU 25499176) on August 26, 2004 after finding the close joint stock company insolvent. The case is docketed as 5/409-04. Kozyatin' United State Tax Inspection has been appointed liquidator/insolvency manager. The company holds account number 2600187 at OJSC Creditprombank, Vinnitsya branch, MFO 302623. Creditors have until October 15, 2004 to submit their proofs of claim to: (a) KOZYATIN' MACHINE-TECHNOLOGICAL STATION 22100, Ukraine, Vinnitsya region, Kozyatin, P. Orlik Str. 10 (b) KOZYATIN' UNITED STATE TAX INSPECTION Liquidator/Insolvency Manager 22100, Ukraine, Vinnitsya region, Kozyatin, P. Orlik Str. 19 (c) ECONOMIC COURT OF VINNITSYA REGION 21036, Ukraine, Vinnitsya region, Hmelnitske shose, 7 RESOURCES: Court Hires Insolvency Manager to Temporarily Run Biz ---------------------------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy proceedings against Resources (code EDRPOU 23495642) on August 26, 2004 after finding the close joint stock company insolvent. The case is docketed as 23/128-b. Arbitral manager Mr. Leonid Sirotenko (License Number AA 630119 approved on December 19, 2003) has been appointed liquidator/insolvency manager. CONTACT: CJSC RESOURCES Legal address: 01011, Ukraine, Kyiv region, Uzviz Pecherskij, 8 Actual address: 01011, Ukraine, Kyiv region, Patris Lumumba Str. 11 Mr. Leonid Sirotenko Liquidator/Insolvency Manager 01034, Ukraine, Kyiv region, Volodimirska Str. 48/2 Phone: 8 (044) 246-37-05 ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard, 44-B UKRAINIAN LEASING: Bankruptcy Proceedings Commenced --------------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy proceedings against Ukrainian Leasing Company (code EDRPOU 31086575) on August 31, 2004 after finding the firm insolvent. The case is docketed as 24/132-b. Arbitral manager Mr. Vasil Moskalenko (License Number AA 250030 approved on November 19, 2001) has been appointed liquidator/insolvency manager. CONTACT: UKRAINIAN LEASING COMPANY 01024, Ukraine, Kyiv region, Luteranska Str. 20 Mr. Vasil Moskalenko Liquidator/Insolvency Manager 65045, Ukraine, Odesa region, Dvoryanska Str. 13, office OUTB Center Phone: 8 (048) 777-64-71 26-27-24 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 =========================== ACTIVE MANUFACTURING: Hires Liquidator from Moore Stephens ---------------------------------------------------------- At an extraordinary general meeting of the Active Manufacturing Limited on September 27, 2004 held at Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB, the extraordinary and ordinary resolutions to wind up the company were passed. Roderick Graham Butcher of Moore Stephens Corporate Recovery, Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB has been appointed liquidator of the company for the purpose of this winding-up. CONTACT: MOORE STEPHENS CORPORATE RECOVERY Beaufort House 94-96 Newhall Street, Birmingham B3 1PB Phone: 0121 233 2557 Web site: http://www.moorestephens.co.uk ALADDINS DISCOUNT: Calls in Liquidator from UHY Hacker Young ------------------------------------------------------------ At an extraordinary general meeting of the members of the Aladdins Discount Stores Limited (t/a Wembley Auction Sales Rooms) on September 27, 2004 held at the offices of UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH, the extraordinary and ordinary resolutions to wind up the company were passed. Andrew Andronikou and Ladislav Hornan have been appointed joint liquidators for the purpose of such winding-up. CONTACT: UHY HACKER YOUNG St Alphage House, 2 Fore Street, London EC2Y 5DH Joint Liquidators: Andrew Andronikou Ladislav Hornan Phone: 020 7216 4600 Fax: 020 7638 2159 Web site: http://www.uhy-uk.com A.P. AEROSPACE: Director Banned from Occupying Executive Post ------------------------------------------------------------- The director of an engineering holding company that failed with total debts estimated at around GBP257,488 has given an Undertaking not to hold directorships or take any part in company management for four years. The Undertaking by Andrew Peter Stone, 42, of Eppleworth Road, Cottingham, Hull, was given in respect of his conduct as a director of A.P. Aerospace Plc, which carried on business from premises at Eppleworth Road, Cottingham, Hull. Acceptance of the Undertaking on September 24, 2004 prevents Andrew Peter Stone 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 above period. A P Aerospace Plc (AP) was placed into compulsory liquidation on November 19, 2002 on the petition of the directors, Andrew Peter Stone and Paul Swatman. The company has an estimated total deficiency of GBP5,801,533, including a share capital of GBP5,544,045. The Official Receiver at Hull conducted the investigation and disqualification procedure. 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, not disputed by Andrew Peter Stone, were that: (a) He caused or allowed material inaccuracies to be published in a share offer prospectus issued on November 10, 2000. Despite those inaccuracies being brought to his attention by way of letter dated November 28, 2000 he failed to correct those statements. The misrepresentations were to the detriment of private investors in that out of 16 responses to the Official Receiver 14 private investors have stated that they would not have invested in AP had they known about the inaccuracies. (b) He failed to comply with statutory provisions and his fiduciary duties as a director of AP in that he failed to maintain and/or preserve a register of members contrary to Section 352 of the Companies Act 1985 or that if such a register was kept he failed to deliver it up to the Official Receiver when requested to do so. As a result the Official Receiver has been unable to identify and contact the shareholders of the company to notify them of the liquidation. (c) He failed to ensure that AP maintained full and proper accounting records from May 31, 2001, when the last audited accounts were produced, to November 19, 2002, the date of the Winding up Order. Furthermore despite the inadequacy of the accounting records being brought to his attention during 2001 he failed to take effective corrective actions. As a result the Official Receiver has been hampered in his of the company in particular he has been unable to satisfy himself that all expenditure met by the company was for legitimate purposes and identify the cause of the company's failure or account for its deficiency. In addition, the accounts for the year ended May 31, 2001 themselves were filed late therefore members were deprived of information that they might reasonably have expected to be available. 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 ARTHUR FORD: Names Tenon Recovery Administrator ----------------------------------------------- Dilip K. Dattani and Patrick B. Ellward (IP Nos 007915, 008702) have been appointed as administrators for Arthur Ford Limited. The appointment was made September 27, 2004. The company manufactures electrical wiring. CONTACT: TENON RECOVERY Charnwood House, Gregory Boulevard, Nottingham NG7 6NX Phone: 0115 955 2000 Fax: 0115 918 4500 Web site: http://www.tenongroup.com ASPIRE INDUSTRIES: Creditors Meeting Set Next Week -------------------------------------------------- The creditors of Aspire Industries Limited will meet on October 14, 2004 commencing at 10:30 a.m. It will be held at the offices of Smith and Williamson Limited, No. 1 Riding House Street, London W1A 3AS. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Smith and Williamson Limited, No 1 Riding House Street, London W1A 3AS not later than 12:00 noon, October 13, 2004. CONTACT: Smith and Williamson Limited No 1 Riding House Street, London W1A 3AS Web site: http://www.smith.williamson.co.uk A THOMAS: Members Agree to Dissolve Company ------------------------------------------- At an extraordinary general meeting of the members of the A Thomas Building & Joinery Limited on September 28, 2004 held at Judges Hotel, Kirklevington, Yarm, Cleveland TS15 9LW, the extraordinary and ordinary resolutions to wind up the company were passed. David Anthony Horner of David Horner & Co, 11 Clifton Moor Business Village, James Nicolson Link, Clifton Moor, York YO30 4XG has been appointed liquidator for the purpose of such winding-up. CONTACT: DAVID HORNER & CO. 11 Clifton Moor Business Village, James Nicolson Link, Clifton Moor, York YO30 4XG BLUEGRID GROUP: Hires Administrator from Capital Insolvency ----------------------------------------------------------- Colin A Sefton (IP No 6495) has been appointed administrator for Bluegrid Group Plc. The appointment was made September 21, 2004. The company offers information technology services. CONTACT: CAPITAL INSOLVENCY SERVICES LIMITED Regent House, 24-25 Nutford Place, London W1H 5YN BOND BROS: Brings in Administrators from Grant Thornton ------------------------------------------------------- Nigel Morrison (IP No 8938) and Duncan Swift (IP No 8093) have been appointed administrators for agricultural company Bond Bros (Motor & Agricultural) Engineers Limited. The appointment was made September 24, 2004. CONTACT: GRANT THORNTON 43 Queen Square, Bristol BS1 4QR Phone: 0117 926 8901 Fax: 0117 926 5458 Web site: http://www.grant-thornton.co.uk GRANT THORNTON UK LLP 31 Carlton Crescent, Southampton SO15 2EW Phone: 023 8022 1231 Fax: 023 8022 4017 Web site: http://www.grant-thornton.co.uk BRINDLE HOMES: Members Opt to Liquidate Assets ---------------------------------------------- At a general meeting of the members of Brindle Homes Ltd., the special and ordinary resolutions to wind up the company were passed. Tony Freeman of Tony Freeman & Company, New Maxdov House, 130 Bury New Road, Prestwich, Manchester M25 0AA has been appointed as liquidator for the company. CONTACT: TONY FREEMAN & COMPANY New Maxdov House, 130 Bury New Road, Prestwich, Manchester M25 0AA CORETEC LIMITED: Administrators Put up 'For Sale' Sign ------------------------------------------------------ The Joint Administrators, Gary Bell and Richard William Traynor, offer for sale the business and assets of Coretec Limited (in administration). Principal features are: (a) Annual turnover of around GBP4.3 million; (b) Situated on a leasehold site in Bedfordshire adjacent to the A1; (c) Various electroless and electrolytic plating lines; (d) CNC multi-head drilling and routing; (e) Laser plotting and film registration; and (f) Complete effluent treatment and acid frame scrubbing plants CONTACT: BEGBIES TRAYNOR Elliot House 151 Deansgate Manchester M3 3BP E-mail: manchester@begbies-traynor.com Web site: http://www.begbies.com Gary Bell Phone: 0161 839 0900 Fax: 0161 832 7436 CROYDON TRAINING: Liquidator's Final Report Due Next Month ---------------------------------------------------------- The final meeting of the members of Croydon Training Centre Limited will be on November 10, 2004 commencing at the offices of Benedict Mackenzie, 3-4 Mulgrave Court, Mulgrave Road, Sutton, Surrey SM2 6LF. 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. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Benedict Mackenzie, 3-4 Mulgrave Court, Mulgrave Road, Sutton, Surrey SM2 6LF not later than 12:00 noon, November 9, 2004. CONTACT: BENEDICT MACKENZIE 3-4 Mulgrave Court, Mulgrave Road, Sutton, Surrey SM2 6LF Phone: 020 8642 2252 Fax: 020 8661 0197 Web site: http://www.benemack.com DRAYCOTE HOUSEL: Calls Meeting to Hear Liquidator's Update ---------------------------------------------------------- The general meeting of the members of Draycote House Limited will be on November 11, 2004 commencing at 11:00 a.m. It will be held at Fields, Asden House, 1-5 Victoria Street, West Bromwich, West Midlands B70 8HA. 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 Fields, Asden House, 1-5 Victoria Street, West Bromwich, West Midlands B70 8HA. EURODIS ELECTRON: Names Grant Thornton New Auditor -------------------------------------------------- Special Business passed at the Company's 21st Annual General Meeting on 28 September 2004. Ordinary Resolution: -------------------- THAT Grant Thornton U.K. LLP be appointed auditors of the Company in place of the retiring auditors to hold office until the conclusion of the next General Meeting at which accounts are laid before the Company and their remuneration to be fixed by the Directors Special Resolutions ------------------- (1) THAT the Directors be and are hereby generally and unconditionally authorized for the purposes of Section 80 of the Companies Act 1985 ('the Act', references to which include any modification or re-enactment thereof for the time being in force) during the period ending on the earlier of the conclusion of the next Annual General Meeting of the Company or the earlier of the date falling fifteen months after the passing of this Resolution to exercise all the powers of the Company to allot relevant securities (within the meaning of Section 80(2) of the Act) and to make any offer or agreement which would or might require such securities to be allotted after that date and to implement the same provided that: (i) the aggregate nominal amount of the relevant securities allotted under this authority shall not exceed GBP3,751,294 (representing 39.6% of ordinary shares of 1 pence each in the capital of the Company issued); (ii) this authority revokes any authority previously granted to the Directors to allot relevant securities but so that such revocation shall not have retrospective effect; and (iii) the Company may before the expiry of this activity make an offer or agreement that would or might require any relevant securities to be all offered after such expiry and the Directors may allot any relevant securities pursuant to any such offer or agreement as if the authority thereby conferred had not expired. (2) THAT the Directors be and are hereby empowered for the purposes of Section 95 of the Act, to allot equity securities (within the meaning of Section 94 (2) of the Act pursuant to the authority conferred by the Resolution above) as if sub-section (1) of Section 89 of the Act did not apply to such allotment, save that this power shall be limited to: (i) the allotment of equity securities in connection with any offer made by way of rights where that offer, so far as it comprises the allotment of equity securities of the Company for cash, is made in respect of holdings of Ordinary shares in proportion (as nearly as may be) to the respective numbers of Ordinary shares held or deemed to be held at the record date for the offer, and if made in respect of equity securities of any other class is made consistently with the rights attaching thereto, subject only to such exclusions or other arrangements as the Directors may deem necessary or expedient to deal with fractional entitlements or legal, regulatory or practical problems arising in relation to any overseas territory; and (ii) the allotment of equity securities for cash (otherwise than as mentioned in paragraph (i) of this resolution) up to an aggregate nominal amount of GBP473,345; and shall expire on the earlier of the conclusion of the next Annual General Meeting of the Company or the earlier of the date falling fifteen months after the passing of this Resolution save that the Directors may, before such expiry, make any offer or agreement which would or might require equity securities to be allotted after such expiry. Registered Office 28 September 2004 Electron House 43, London Road Reigate Surrey, RH2 9PW A copy of this document has been submitted to the U.K. Listing Authority and will shortly be made available for inspection at the U.K. Listing Authority's Document Viewing Facility, which is situated at: Financial Services Authority, 25 The North Colonade, Canary Wharf, London E14 5HS Phone: 020 7676 1000 CONTACT: EURODIS ELECTRON PLC Doug Rogers Non-Executive Chairman Phone: 01737 242 464 Steven Swayne Chief Executive Phone: 01737 242 464 Peter Grant Group Finance Director Phone: 01737 242 464 FORD COMMUNICATIONS: Appoints Administrators from Tenon Recovery ---------------------------------------------------------------- Dilip K. Dattani and Patrick B. Ellward (IP Nos 007915, 008702) have been appointed administrators for Ford Communications Limited. The appointment was made September 27, 2004. The company manufactures electronic components. CONTACT: TENON RECOVERY Charnwood House, Gregory Boulevard, Nottingham NG7 6NX Phone: 0115 955 2000 Fax: 0115 918 4500 Web site: http://www.tenongroup.com GLOBAL MARINE: Names The MacDonald Partnership Administrator ------------------------------------------------------------ Douglas MacDonald (IP No 8642) has been appointed administrator for Global Marine Systems Limited. The appointment was made September 28, 2004. The company is engaged in telecommunications and sea transport. Its registered office is located at East Saxon House, 27 Duke Street, Chelmsford CM1 1HT. CONTACT: THE MACDONALD PARTNERSHIP 81 St Martin's Lane, London WC2N 4AA JACK KNIGHT: PricewaterhouseCoopers Takes over Helm --------------------------------------------------- Paul William Harding (IP No 99792) and Julia Elizabeth Branson (IP No 99372) have been appointed as joint administrators for Jack Knight (Developments) Limited. The appointment was made September 24, 2004. The company is engaged in general mechanical engineering. Its registered office is located at Butts Road, Woking, Surrey GU21 6JX. CONTACT: PRICEWATERHOUSECOOPERS LLP 1 Kingsway, Cardiff CF10 3PW Phone: [44] (29) 2023 7000 Fax: [44] (29) 2080 2400, 2404(VAT) Web site: http://www.pwc.com PRICEWATERHOUSECOOPERS LLP 9 Greyfriars Road, Reading RG1 1JG Phone: [44] (118) 959 7111 Fax: [44] (118) 960 7700 Web site: http://www.pwc.com J F RATCLIFF: Receivers Hunt for Buyers --------------------------------------- The Joint Administrative Receivers, W. J. Kelly and J. P. N. Martin, invite offers for the businesses of J F Ratcliff (Metals) Limited and Shimfoil Limited. Both companies are based in leased accommodation in central Birmingham. CONTACT: BEGBIES TRAYNOR 4th Floor Newater House 11 Newhall Street Birmingham B3 3NY Phone: 0121 200 8150 Fax: 0121 200 8160 E-mail: birmingham@begbies-traynor.com Web site: http://www.begbies.com LAWSON RODWELL: Liquidator to Give Update Next Month ---------------------------------------------------- The general meeting of the members of Lawson Rodwell Limited will be on November 5, 2004 commencing at 11:45 a.m. It will be held at Anchor Brewhouse, 50 Shad Thames, Tower Bridge City, London SE1 2YB. 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. LEGENDS LEISURE: Calls First Creditors' Meeting ----------------------------------------------- The first meetings of the contributories and creditors of Legends Leisure Limited will be on October 19, 2004. It will be held at 6-8 Michael Street, Peel in the Isle of Man. Creditors or contributories who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Shimmin Wilson & Co, 13-15 Hope Street, Douglas, Isle of Man not later than 4:00 p.m., October 18, 2004. CONTACT: SHIMMIN WILSON & CO 13-15 Hope Street, Douglas, Isle of Man Phone: 01624 627744 Fax: 01624 629666 E-mail: shimminwilson@advsys.co.uk L.S.A. PRESENTATIONS: Brings in Liquidators ------------------------------------------- At an extraordinary general meeting of the members of the L.S.A. Presentations And Events Limited on September 10, 2004 held at Square Root Business Centre, 102 Windmill Road, Croydon, Surrey CR0 2XG, the extraordinary and ordinary resolutions to wind up the company were passed. Jeremy Charles Frost and Andrew William Thompson of The Thompson Partnership, Square Root Business Centre, 102 Windmill Road, Croydon, Surrey CR0 2XQ have been appointed joint liquidators of the company for the purpose of the voluntary winding-up. CONTACT: THE THOMPSON PARTNERSHIP Square Root Business Centre, 102 Windmill Road, Croydon, Surrey CR0 2XQ Joint Liquidators: Jeremy Charles Frost Andrew William Thompson MERTON HALL: Aquatic Plants Supplier Looking for Buyer ------------------------------------------------------ Nigel Millar and Mandy Smart, Joint Receiver of Merton Hal Pond Limited, offer for sale the business and assets of a well-established supplier of aquatic plant, landscape and biodegradable civil engineering products. Initial business details: (a) First-half turnover of GBP1 million for 2004, with forecast turnover of GBP2 million with particularly high gross margins; (b) Established 20 years ago, the company is the largest grower and supplier of aquatic plants in the U.K., (c) Substantial stocks in trade; (d) Serves 220 U.K. retail outlets; (e) U.K. market leader in biodegradable civil engineering and landscape products; and (f) Specialist contractor to the aquatic landscape and civil engineering industry. CONTACT: BAKER TILLY Spectrum House 20-26 Cursitor Street, London EC4A 1HY Phone: 020 7405 2088 Fax: 020 7831 2206 Web site: http://www.bakertilly.co.uk Mark Oldfield E-mail: mark.oldfield@bakertilly.co.uk Nicola Purnell E-mail: nicola.purnell@bakertilly.co.uk NK EUROPE: Members Final Meeting Set November --------------------------------------------- The final meeting of the members of NK Europe Limited will be on November 2, 2004 commencing at 10:30 a.m. It will be held at the offices of PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. 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. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court, London EC4A 4HT Joint Liquidator: R Setchim Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com PENNYBEE OF WIMBLEDON: In Administrative Receivership ----------------------------------------------------- John Edward Richardson and Anne Leslie Richardson called in Steven Draine and David Rolph (Office Holder Nos 8866, 5930) as joint administrative receivers for Pennybee Of Wimbledon Ltd. (Reg No 2419700, Trade Classification: 5244). The application was filed September 29, 2004. Previously named Merchantmen Limited, the company sells kitchens and appliances, bathrooms and fitted furniture. CONTACT: MOORE STEPHENS 3-5 Rickmansworth Road, Watford, Hertfordshire WD18 0GX Web site: http://www.moorestephens.co.uk PROFUND HOLDINGS: Creditors' Meeting Next Week ---------------------------------------------- The creditors of Profund Holdings Limited will meet on October 13, 2004 commencing at 11:00 a.m. It will be held at The Sherlock Holmes Hotel, 108 Baker Street, London W1U 6LJ. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL not later than 12:00 noon, October 12, 2004. CONTACT: BDO STOY HAYWARD LLP 8 Baker Street London W1U 3LL Phone: 020 7486 5888 Fax: 020 7487 3686 E-mail: london@bdo.co.uk Web site: http://www.bdostoyhayward.co.uk ROBOR CARTONS: Receiver Calls Creditors' Meeting ------------------------------------------------ The creditors of Robor Cartons Limited will meet on October 18, 2004 commencing at 11:00 a.m. It will be held at Hilton Brighton Metropole Hotel, Kings Road, East Sussex, Brighton BN1 2FU. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to Begbies Traynor (South) LLP, 32 Cornhill, London EC3V 3BT not later than 12:00 noon, October 15, 2004. CONTACT: BEGBIES TRAYNOR (SOUTH) LLP 32 Cornhill, London EC3V 3BT Joint Liquidators: Nicholas Roy Hood Paul Michael Davis Phone: 020 7398 3800 Fax: 020 7398 3799 Web site: http://www.begbies.com SALT N PEPPER: First Liquidation Meeting Slated Next Week --------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Salt N Pepper Ltd. (in Liquidation) I, of Baker Tilly, Breckenridge House, 247 Sauchiehall Street, Glasgow G2 3EH hereby give notice that I was appointed Interim Liquidator of Salt N Pepper Ltd. on September 7, 2004 by the Interlocutor of the Sheriff at Court of Session. 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 Breckenridge House 274 Sauchiehall Street Glasgow G2 3EH on October 15, 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. George S. Paton, Interim Liquidator September 13, 2004 CONTACT: BAKER TILLY Breckenridge House, 274 Sauchiehall Street, Glasgow G2 3EH Phone: 0141 307 5000 Fax: 0141 307 5005 E-mail: david.gwilliam@bakertilly.co.uk Web site: http://www.bakertilly.co.uk SIMS NOMINEES: Calls in Liquidator ---------------------------------- At an extraordinary general meeting of the members of the Sims Nominees Limited on September 28, 2004 held at 1 Tower Place West, Tower Place, London EC3R 5BU, the special resolution to wind up the company was passed. Richard Andrew Segal has been appointed liquidator for the purpose of such winding-up. SLC DRIVERS: Statement of Affairs Out Next Week ----------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF SLC Drivers Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of SLC Drivers Ltd. will be held at The Old Exchange, 234 Southchurch Road, Southend-on-Sea, SS1 2EG on October 15, 2004 at 3:30 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) 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 The Old Exchange, 234 Southchurch Road, Southend-on-Sea, SS1 2EG 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 The Old Exchange, 234 Southchurch Road, Southend-on-Sea, SS1 2EG before the Meeting, a statement giving particulars of their security, the date when it was given, and the value at which it is assessed. Louise D. Baxter of Begbies Traynor The Old Exchange, 234 Southchurch Road, Southend-on-Sea, SS1 2EG is a person qualified to act as an Insolvency Practitioner in relation to the Company who will, during the period before the day of the Meeting furnish creditors free of charge with such information concerning the Company's affairs as they may reasonably require. By Order of the Board. S. L. Corbersmith, Director August 31, 2004 CONTACT: BEGBIES TRAYNOR The Old Exchange 234 Southchurch Road Southend-on-Sea SS1 2EG Phone: 01702 467255 Fax: 01702 467201 E-mail: southend@begbies-traynor.com Web site: http://www.begbies.com SPELLBOUND TECHNOLOGY: Final Meeting of Members November -------------------------------------------------------- The final general meeting of the members of Spellbound Technology Limited will be on November 11, 2004 commencing at 12:00 noon. It will be held at Johnston House, 8 Johnston Road, Woodford Green, Essex IG8 0XA. 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. THE BAGWASH: May Appoint Liquidator Next Week --------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF The Bagwash Ltd. Notice is hereby given, pursuant to section 98 of the Insolvency Act 1986, that a meeting of Creditors of The Bagwash Ltd. will be held at Griffin Court, 201 Chapel Street, Manchester, M3 5EQ on October 15, 2004 at 12:00 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) 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 Griffin Court, 201 Chapel Street, Manchester, M3 5EQ 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 Griffin Court, 201 Chapel Street, Manchester, M3 5EQ 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 Kay Johnson Gee, Griffin Court, 201 Chapel Street, Manchester, M3 5EQ two business days prior to the meeting. By Order of the Board. S. Finni, Director CONTACT: KAY JOHNSON GEE & CO. Griffin Court 203 Chapel Street Manchester M3 5EQ Phone: 01618326221 THE FORD: Hires Tenon Recovery as Administrator ----------------------------------------------- Dilip K Dattani and Patrick B Ellward (IP Nos 007915, 008702) have been appointed as administrators for holding company The Ford Group Of Nottingham Limited. The appointment was made September 27, 2004. CONTACT: TENON RECOVERY Charnwood House, Gregory Boulevard, Nottingham NG7 6NX Phone: 0115 955 2000 Fax: 0115 918 4500 Web site: http://www.tenongroup.com WILSON FORD: Calls in Administrator from Tenon Recovery ------------------------------------------------------- Dilip K Dattani and Patrick B Ellward (IP Nos 007915, 008702) have been appointed as administrators for Wilson Ford Limited. The appointment was made September 27, 2004. The company is engaged in general mechanical engineering. CONTACT: TENON RECOVERY Charnwood House, Gregory Boulevard, Nottingham NG7 6NX Phone: 0115 955 2000 Fax: 0115 918 4500 Web site: http://www.tenongroup.com WINCHESTER LONDON: Members Meeting Set Next Month ------------------------------------------------- The general meeting of the members of Winchester London Trust Plc will be on November 5, 2004 commencing at 10:45 a.m. It will be held at 76 New Cavendish Street, London W1G 9TB. 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. ********* 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 * * *