TCREUR_Public/041209.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

           Thursday, December 9, 2004, Vol. 5, No. 244

                            Headlines

B U L G A R I A

BEXX AIR: Earns Regulator's Ire; Faces Lawsuit


F R A N C E

VIVENDI UNIVERSAL: Urged to Form Supervisory, Management Boards
VIVENDI UNIVERSAL: Cegetel-Maroc Consolidation Ordered Undone


G E R M A N Y

AIF ARGE: Deadline for Creditors' Claims Nears
KERN & KERN: Bonn Court Appoints Provisional Administrator
KMG PERSONALLEASING: Administrator's Report Out December
MAFI ZEITARBEIT: Applies for Bankruptcy Proceedings
MATRONG GMBH: Gives Creditors Until this Month to File Claims

MFS FORDERSYSTEME: Sets Creditors' Meeting January
PHARMA-VERTRIEBSGESELLSCHAFT: Under Bankruptcy Administration
PLETTAC ELECTRONIC: Files for Bankruptcy
ROESBERG HEIZUNGS: Gives Creditors Until January to File Claims


I T A L Y

ALITALIA SPA: E.U. Commission Delays Approval of Rescue Plan
ALITALIA SPA: Govt Offers Dismissed Staff Alternative Employment
FINMATICA SPA: Liquidator Sues for More Time
PARMALAT FINANZIARIA: Regional Minister Under Investigation


K Y R G Y Z S T A N

BISHKEK LIQUEUR: Sets Public Auction First Week of January
KOCHKORBAEV: Calls Creditors' Meeting


N E T H E R L A N D S

ASM INTERNATIONAL: Calls EGM to Tackle Additional Share Issuance


R U S S I A

DAIRY ZNAMENSKIY: Deadline for Proofs of Claim January
KRIVOSHEYEVSKOYE: Bankruptcy Hearing Resumes February
METROMEDIA INTERNATIONAL: Absorbs Another Nine-month Loss
METROMEDIA INTERNATIONAL: Discloses Pending Lawsuits
MORSHANSK-AGRO-PROM-SNAB: Declared Insolvent

NEW HARVEST: Hires M. Smagin as Insolvency Manager
OBSHE-PIT: Insolvency Manager Enters Firm
SPASSKOYE: Primorye Court Opens Bankruptcy Proceedings
TAMBOV-GAS-STROY: Hires A. Morozov as Insolvency Manager
USMAN-SELKHOZ-KHIMIYA: Creditors' Claims Due Next Month

VOLOGDA-FURNITURE: Under Bankruptcy Supervision
YUG-LES: Gives Creditors Until January to File Claims
YUKOS OIL: Indian Firm Shows Interest in Assets


S P A I N

IZAR: Unions Hold Divergent Views on Progress of Negotiations


U K R A I N E

AGROBUDKOMPLEKT: Succumbs to Bankruptcy
AVANGARD: Proofs of Claim Deadline Nears
INTERFIRMA: Under Bankruptcy Supervision
KALINIVSKIJ TIN: Period for Filing of Claims Ends Friday
KERAMIK: Court Appoints Temporary Insolvency Manager

PERVOMAJSKA AUTOBASE: Harkiv Court Opens Bankruptcy Proceedings
TRANSPORTNIK: Court Appoints Liquidator
UKRAINA: Last Day for Filing of Claims Friday
UKRAINIAN TRADE: Bankruptcy Proceedings Begin
ZORYA: Insolvency Manager Takes over Operations


U N I T E D   K I N G D O M

AIR-LIMO LIMITED: Royal Bank of Scotland Appoints PwC Receiver
ARTESIA NATURAL: Meeting of Unsecured Creditors Set Next Week
BARROW VILLAGE: Hires Liquidator from Tomlinsons
BEADHOPE LIMITED: Owners Opt to Dissolve Business
BENSON MIDLANDS: In Administrative Receivership

BRIGHTVIEW LIMITED: Members Decide to Wind up Company
BULKBAG LIMITED: Receivers Call Creditors' Meeting
CLOACA LIMITED: Members Final Meeting Set January
C & N DEVELOPMENTS: Hires P&A Partnership as Liquidator
COMPROPERTY.COM LIMITED: Names Robson Laidler Liquidator

CRM PROPERTY: Liquidator from T H Associates Enters Firm
DAYTIME WINDOWS: Hires Liquidator from Wilkins Kennedy
DEAN PARK: Winding-up Report Due January
DESICCANT DRY: Members Pass Extraordinary Winding up Resolution
D J SPECIALIST: Names Grant Thornton Liquidator

DREAMCOSTUMES LTD: Hires Liquidator from Jeffreys Henry Jacobs
FINMATICA LIMITED: Names KPMG Administrator
HIGHAIR LIMITED: Appoints Wilkins Kennedy Administrator
IP SUPPORT: Sets Creditors' Meeting December 21
JARVIS PLC: Closes Sale of UPP Business

JARVIS PLC: Receives GBP1.2 Million for PFI Bidding Operations
MACALISTER & DUNDAS: Liquidator to Give Final Report December 30
MATRIX COMPONENTS: Hires Liquidator from Grant Thornton
MATRIX ESSENTIALS: Sets Final Meeting Next Year
MHM BLACKSMITHS: Calls in Liquidator from Begbies Traynor

MULTI-SPORTS LIMITED: Hires Administrators from Tenon Recovery
PIPELINE PROTECTION: Appoints Tenon Recovery Administrator
QUADRILLE VIDEO: Liquidator Moves in
RED BRICK: Liquidator's Report Out Later this Month
SIMON VENTURES: Members Pass Special Winding up Resolutions

SOIRAM LIMITED: Bank of Scotland Calls in Receivers
TXU EUROPE: SSE Expects More than GBP220 Mln in Compensation
VECO PRODUCTS: Calls in Liquidator from Parkin S. Booth & Co.
W G REALISATIONS: To Appoint Liquidator Mid-December
WILLIAM LAWRENCE: Members Final Meeting Set January


                            *********


===============
B U L G A R I A
===============


BEXX AIR: Earns Regulator's Ire; Faces Lawsuit
----------------------------------------------
The Commission for Trade and Customers' Protection is suing low-
fare charter airline, Bexx Air, for violation of the Tourism
Law, Novite.com reports.

The agency said in a statement it is undertaking the action not
for compensation but to uphold the law.  It invites all clients
to join in the claim by the end of December.

In September, the government closed the headquarters of the
company claiming it had been operating without a license.  The
carrier admits not having a license, but reasoned its operations
require no permission under any Bulgarian laws.  Bexx Air, which
opened for business in March, sells tickets for charter flights
performed by private carrier Hemus Air.

CEO Dirk Wiesemann, in an earlier report, said authorities had
approached the company several times about the matter, but could
not point out what kind of license it should get.

CONTACT:  BEXX AIR
          Sofia, Bulgaria
          Web site: http://www.flybexx.com


===========
F R A N C E
===========


VIVENDI UNIVERSAL: Urged to Form Supervisory, Management Boards
---------------------------------------------------------------
The Corporate Governance Committee and the Human Resources
Committee of Vivendi Universal (Paris Bourse: EX FP; NYSE: V)
recommended to the Board of Directors that Chairman Jean-Rene
Fourtou modify the current governance structure of the Company
and create a Supervisory Board and a Management Board, during a
plenary session held Tuesday.  This proposal was formally
discussed by the Board of Directors on December 7, 2004 and will
be submitted by a Combined General Meeting of shareholders on
April 28, 2005.

Subject to approval at the Combined General Meeting, the
Supervisory Board would be chaired by Jean-Rene Fourtou and
comprised of the Board of Directors' current members.

The Management Board would be chaired by Jean-Bernard Levy and
include, Abdeslam Ahizoune (Maroc Telecom), Jacques Espinasse
(Senior Executive Vice-President and Chief Financial Officer of
Vivendi Universal), Frank Esser (SFR-Cegetel Group), Bertrand
Meheut (Canal+ Group), Doug Morris (Universal Music Group) and
Rene Penisson (Vivendi Universal Games).

Jean-Francois Dubos, General Counsel would serve as Secretary to
both the Supervisory Board and the Management Board.

Robert de Metz, Executive Vice-President in charge of
divestments and acquisitions, would lead the new Strategy and
Development Department.

CONTACT:  VIVENDI UNIVERSAL
          Media: Paris
          Antoine Lefort
          Phone: +33 (0) 1 71 71 11 80
          Agnes Vetillart
          Phone: +33 (0) 1 71 71 30 82
          Alain Delrieu
          Phone: +33 (0) 1 71 71 10 86
          or
          New York
          Flavie Lemarchand-Wood
          Phone: +(212) 572 1118
          or
          Investor Relations: Paris
          Daniel Scolan
          Phone: +33 (0) 1 71 71 32 91
          Laurence Daniel
          Phone: +33 (0) 1 71 71 12 33
          or
          New York
          Eileen McLaughlin
          Phone: +(1) 212.572.8961


VIVENDI UNIVERSAL: Cegetel-Maroc Consolidation Ordered Undone
-------------------------------------------------------------
Vivendi Universal (Paris Bourse: EX FP; NYSE: V) on Tuesday
received notification of the decision of the Disciplinary
Commission of the Autorite des Marches Financiers (AMF) in
connection with the disciplinary procedure initiated by the
Commission des Operations de Bourse (COB) on September 12, 2003
and continued by the AMF.

The Disciplinary Commission dismissed the complaints brought
forth by the COB concerning the consolidation methods used for
Cegetel and Maroc Telecom, and acknowledged that the method used
in the consolidation of these two companies was appropriate.

Vivendi Universal disputes the Disciplinary Commission's
decision to uphold the complaint challenging the use of the
equity method solely in 2001 rather than full consolidation for
Elektrim Telekomunikacja Sp. z o.o., given that at the time
Vivendi Universal did not, and still does not, exercise either
exclusive or joint control over this company.

Vivendi Universal would emphasize that it has attempted to
divest this investment several times over the past three years.
These attempts have always been blocked by Elektrim S.A., which
of itself demonstrates that Vivendi Universal does not exercise
control over this holding company whose ownership of PTC shares
has been the subject of international arbitration procedures
since 1999.

Using the proportional consolidation method, as suggested by the
Disciplinary Commission, would have increased the Vivendi
Universal's net debt as of December 31, 2001 by approximately
EUR400 million of a total of EUR37 billion, an increase of about
1%.

The Company also regrets that its submissions concerning its
general financial disclosures were not heard, though its annual
reports were reviewed by the COB each year.

Vivendi Universal is conducting a careful assessment of this
decision and its options with legal counsel.

CONTACT:  VIVENDI UNIVERSAL
          Media: Paris
          Antoine Lefort
          Phone: +33 (0) 1 71 71 11 80
          Agnes Vetillart
          Phone: +33 (0) 1 71 71 30 82
          Alain Delrieu
          Phone: +33 (0) 1 71 71 10 86
          or
          New York
          Flavie Lemarchand-Wood
          Phone: +(212) 572 1118
          or
          Investor Relations: Paris
          Daniel Scolan
          Phone: +33 (0) 1 71 71 32 91
          Laurence Daniel
          Phone: +33 (0) 1 71 71 12 33
          or
          New York
          Eileen McLaughlin
          Phone: +(1) 212.572.8961


=============
G E R M A N Y
=============


AIF ARGE: Deadline for Creditors' Claims Nears
----------------------------------------------
The district court of Celle opened bankruptcy proceedings
against AIF ARGE Industriefussboden on Nov. 16.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Dec. 31, 2004 to
register their claims with court-appointed provisional
administrator Thomas Erdmann.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 27, 2005, 11:30 a.m. at Saal 014,
Erdgeschoss, Amtsgericht Celle, Nebenstelle, Muhlenstrasse 4,
29221 Celle 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:  AIF ARGE INDUSTRIEFUSSBODEN GMBH & CO. KG
          Holunderweg 20, 29640 Schneverdingen

          AIF ARGE INDUSTRIEFUSSBODEN VERWALTUNGSGESELLSCHAFT
          Holunderweg 20, 29640 Schneverdingen
          Contact:
          Robert Brockmann, Manager
          Schluchtweg 5, 21244 Buchholz-Steinbeck

          Thomas Erdmann, Insolvency Manager
          Blumenstr. 8-10, 29614 Soltau
          Phone: 05191/96730
          Fax: 05191/967320


KERN & KERN: Bonn Court Appoints Provisional Administrator
----------------------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
Kern & Kern GbR on Nov. 15, 2004.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until Dec. 28, 2004 to register their claims with
court-appointed provisional administrator Wolfgang Kalker.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 10, 2005 10:30 a.m. at the district court of
Bonn, Insolvenzgericht-, Wilhelmstrasse 21, 53111 Bonn, 1.
Stock, Saal W126, 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:  KERN & KERN GBR
          Burbacher Str. 222, 53129 Bonn
          Danielle Kern, Partner
          Michael Kern, Partner

          Wolfgang Kalker, Insolvency Manager
          Kolnstr. 135, 53757 Sankt Augustin
          Phone: 02241/ 90600
          Fax: 02241906090


KMG PERSONALLEASING: Administrator's Report Out December
--------------------------------------------------------
The district court of Saarbrucken opened bankruptcy proceedings
against KMG Personalleasing GmbH on Nov. 8.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Jan. 7, 2005 to register their
claims with court-appointed provisional administrator Dr. Thomas
Christmann.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 15, 2004, 8:50 a.m. at the district court of
Saarbrucken Aussenstelle Sulzbach, Vopeliusstrasse 2, 66280
Sulzbach, 1. Etage, Saal 13 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 Feb. 2, 2005, 8:40 a.m. at the same venue.

CONTACT:  KMG PERSONALLEASING GMBH
          Am Brichelberg 3 a, 66271 Kleinblittersdorf
          Contact:
          Martine Hahn, Manager

          Dr. Thomas Christmann, Insolvency Manager
          Graf-Johann-Strasse 8, 66121 Saarbrucken
          Phone: 0681/30140469
          Fax: 0681/635321


MAFI ZEITARBEIT: Applies for Bankruptcy Proceedings
---------------------------------------------------
The district court of Saarbrucken opened bankruptcy proceedings
against MAFI Zeitarbeit GmbH on Nov. 8, 2004.  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 Dr. Thomas
Christmann.

Creditors and other interested parties are encouraged to attend
the meeting on Dec. 15, 2004 8:35 a.m. at the district court of
Saarbrucken, Aussenstelle Sulzbach, Vopeliusstrasse 2, 66280
Sulzbach, 1. Etage, Saal 13 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 Feb. 2, 2005 at the same venue.

CONTACT:  MAFI ZEITARBEIT GMBH
          Am Brichelberg 3, 66271 Kleinblittersdorf
          Martine Hahn, Manager

          Dr. Thomas Christmann, Insolvency Manager
          Graf-Johann-Strasse 8, 66121 Saarbrucken
          Phone: 0681/30140469
          Fax: 0681/635321


MATRONG GMBH: Gives Creditors Until this Month to File Claims
-------------------------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against Matrong GmbH on Nov. 12, 2004.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Dec. 30, 2004 to register their
claims with court-appointed provisional administrator Uwe
Huggenberg.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 10, 2005 at the district court of Bochum,
Hauptstelle, Viktoriastrasse 14, 44787 Bochum, Erdgeschoss, Saal
A29, 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:  MATRONG GMBH FACHGESCHAFT FUR HAUSHALTS- UND
          ELEKTROGERATE UND KUCHEN
          Alte Bahnhofstrasse 185, 44892 Bochum
          Bernd Kornelius, Manager

          Uwe Huggenberg, Insolvency Manager
          Huestrasse 34, 44787 Bochum
          Phone: 964 91-0
          Fax: 964 91-33


MFS FORDERSYSTEME: Sets Creditors' Meeting January
--------------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against MFS Fordersysteme GmbH on Nov. 12.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Feb. 8, 2005 to register their
claims with court-appointed provisional administrator Dr. Jochen
Orgelmann.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 6, 2005, 9:45 a.m. at Saal 115, Gerichtshaus
(Neubau), Ostertorstr. 25-31, 28195 Bremen 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 March 3, 2005, 9:15 a.m. at the same
venue.

CONTACT:  MFS FORDERSYSTEME GMBH
          Kedinger Str. 15, 28259 Bremen
          Contact:
          Ralf Hartmut Bethke, Manager
          Kehdinger Str. 15, 28259 Bremen

          Dr. Jochen Orgelmann, Insolvency Manager
          Schillerstr. 10, 28195 Bremen
          Phone: 0421/337790
          Fax: 0421/3377933


PHARMA-VERTRIEBSGESELLSCHAFT: Under Bankruptcy Administration
-------------------------------------------------------------
The district court of Hagen opened bankruptcy proceedings
against Pharma-Vertriebsgesellschaft mbH on Nov. 16, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Dec. 27, 2004
to register their claims with court-appointed provisional
administrator Christof Kohling.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 17, 2005 9:50 a.m. at the district court of
Hagen, Haupthaus (Neubau) -, Heinitzstrasse 42, 58097 Hagen,
Etage 2, Raum 251, 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:  PHARMA-VERTRIEBSGESELLSCHAFT MBH
          Loerfeldstr. 20, 58313 Herdecke
          Martin Proppert, Manager

          Christof Kohling, Insolvency Manager
          Raiffeisenstr. 16, 58638 Iserlohn
          Phone: 02371/90990
          Fax: +492371909922


PLETTAC ELECTRONIC: Files for Bankruptcy
----------------------------------------
The district court of Hagen opened bankruptcy proceedings
against Plettac Electronic Installation GmbH on Nov. 15, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Dec. 15, 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 Jan. 5, 2005 10:15 a.m. at the district court of
Hagen,  Haupthaus (Neubau) -, Heinitzstrasse 42, 58097 Hagen,
Etage 2, Raum 251, 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:  PLETTAC ELECTRONIC INSTALLATION GMBH
          Mommsenstr. 1, 04329 Leipzig
          Reinhardt Stabroth, Manager

          Dr. Winfrid Andres, Insolvency Manager
          Grabenstr. 28, 58095 Hagen
          Phone: 02331/39 76 56
          Fax: +4921169076970


ROESBERG HEIZUNGS: Gives Creditors Until January to File Claims
---------------------------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
Roesberg Heizungs-Sanitartechnik GmbH on Nov. 12, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Jan. 6, 2005 to
register their claims with court-appointed provisional
administrator Dr. Sebastian Henneke.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 10, 2005 12:00 p.m. at the district court of
Bonn, -Insolvenzgericht-, Wilhelmstrasse 21, 53111 Bonn, 1.
Stock, Saal W126, 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: ROESBERG HEIZUNGS-SANITARTECHNIK GMBH
         Rathauslatz 5, 53859 Niederkassel
         Dieter Roesberg, Manager

         Dr. Sebastian Henneke, Insolvency Manager
         Meckenheimer Allee 87, 53115 Bonn
         Phone: 0228/9766643
         Fax: 0228/9766645


=========
I T A L Y
=========


ALITALIA SPA: E.U. Commission Delays Approval of Rescue Plan
------------------------------------------------------------
Troubled national carrier Alitalia will have to wait until next
year before it can implement its restructuring plan, Reuters
says.

A source within the European Commission told the newswire the
new commissioner may not rule on the plan before the year ends.
The source said, "It's more likely it will be taken in the new
year."

The Commission is currently evaluating Alitalia's restructuring
plan, making sure it contains no element of state aid.  After
the review, the Commission may either approve the plan or launch
an extensive probe against the carrier, which could last 18
months.  The government presented the restructuring plan to the
Commission in October and provided more details in November.

In July, the Commission approved Alitalia's EUR400 million
government-backed bridging loan, which the carrier said it
needed to replenish its coffers and continue operations.  Once
the carrier withdraws the loan, it has around 12 months to repay
it at prevailing market rates.

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


ALITALIA SPA: Govt Offers Dismissed Staff Alternative Employment
----------------------------------------------------------------
Employees affected by the restructuring of Alitalia will not
receive separation pay if they refuse the state's employment
program, Il Sole 24 Ore says.

The government recently amended the decree on welfare payments
for employees of the air transport sector.  The revised decree
stipulates that airline employees must either enter into
alternative employment or undergo a training course for another
job.  Those who refuse will have to forego their lay-off
payments, the decree states.  The provision applies only to
employees whose salaries are up to 20% lower than the their
current remuneration.

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


FINMATICA SPA: Liquidator Sues for More Time
--------------------------------------------
Paolo Ribolla, liquidator of insolvent software group Finmatica
S.p.A., has asked the court to postpone the bankruptcy trial for
another ten days, La Stampa says.

Mr. Ribolla, who also serves as the group's commissioner,
reasoned that he needs more time to strike a deal with
Finmatica's creditors.  According to him, talks with creditors
have shifted focus to saving the jobs of 240 workers.  A group
of employees has asked the court for a quick and efficient
solution.

The court earlier postponed the hearings for one week, moving
the date to December 9 to give the liquidator ample time to
review offers for Finmatica.  Mr. Ribolla said around nine
bidders have submitted non-binding offers to acquire Finmatica's
core business, which is the development of banking and financial
software.  They include U.S. IT group EDS, local software
company Opera 21 and local banking services outsourcing firm
CSE.

CONTACT:  FINMATICA S.p.A.
          Via Cannizzaro
          83/A 00156 Roma
          Phone: +39 06/439911
          Fax: +39 06/43991259
          Web site: http://www.finmatica.com


PARMALAT FINANZIARIA: Regional Minister Under Investigation
-----------------------------------------------------------
The Court of Ministers will further investigate Regional Affairs
Minister Enrico La Loggia in relation to accusations he received
bribes from Parmalat Finanziaria's founder.

Mr. La Loggia has been charged by the Prosecutors' Office of
Rome with illegally financing his party with money received from
Calisto Tanzi.  Public prosecutor Pietro Giordano investigated
the matter after receiving a document concerning a Parmalat
inquiry carried out by the Prosecutors' Office of Parma on
alleged bribery of politicians by Mr. Tanzi.  Mr. Giordano in
turn sent a related file to the Court of Ministers requesting
thorough investigation of Mr. La Loggia.

The dairy company filed for bankruptcy protection in 2003 after
amassing EUR14 billion in debts.

CONTACT:  PARMALAT FINANZIARIA
          Legal Seat
          43044 Collecchio (Pr)
          Via Oreste Grassi, 26

          Administrative Seat
          20122 Milan
          Piazza Erculea, 9
          Phone: +39 02 806 8801
          Fax: +39 02 869 3863
          Web site: http://www.parmalat.net


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


BISHKEK LIQUEUR: Sets Public Auction First Week of January
----------------------------------------------------------
The bidding organizer and insolvency manager of JSC Bishkek
Liqueur-Vine Farm will sell the company's properties on January
4, 2005, 11:00 a.m.  The public auction will take place at
Bishkek, Soviet Str. 220.

For sale are:

(a) Lot 1: 49% of the authorized capital share.  Starting price
    is KGS52,314,000;

(b) Lot 2: Audi-100 car.  Starting price is KGS312,184.

Requirements:

(a) Offered price;

(b) A business plan focusing on the company's development and
    modernization; and

(c) Retention of the company's manufacturing business.

To participate, bidders must submit all necessary documents and
deposit an amount equivalent to 10% of the starting price on or
before January 3, 2005 at Bishkek, Soviet Str. 220.

For more information, call (0-312) 62-39-69 or (0-312) 66-51-94.


KOCHKORBAEV: Calls Creditors' Meeting
-------------------------------------
Kochkorbaev will meet its creditors on December 24, 2004, 10:00
a.m. at Issyk-Ata, Budenovka, Pushkin Str. 23.

Agenda:

(a) Declaration of bankruptcy and commencement of temporary
    insolvency procedure;

(b) Appointment of temporary insolvency manager; and

(c) Others.

For more information, call (0-502) 60-51-31.


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


ASM INTERNATIONAL: Calls EGM to Tackle Additional Share Issuance
----------------------------------------------------------------
ASM International (ASMI) (Euronext Amsterdam:ASM) announced
Monday the closing and settlement of the private placement of
US$150 million of 4.25% convertible subordinated notes due 2011.
The amount of notes includes the full US$25 million of notes the
initial purchasers had the option to acquire in addition to the
US$125 million initially offered.

The notes are convertible into ASMI common shares at a
conversion price of US$20.82 per share, which is equivalent to a
conversion rate of 48.0307 shares for each US$1,000 principal
amount of notes and represents a 35% premium over the closing
sale price of ASM International common shares on the Euronext
Amsterdam stock exchange on December 1, 2004.  Initially, cash
will be delivered in lieu of a portion of the common shares to
be delivered upon conversion in an amount equal to the principal
amount of the notes converted (or, if less, the conversion
value).

Upon receipt by ASM International of shareholder approval to
issue additional common shares, only common shares will be
delivered upon conversion of the notes.  ASM International has
called an extraordinary shareholders meeting in Bilthoven, The
Netherlands, for December 21, 2004, for the purpose of obtaining
this shareholder approval.  Prior to the time of such
shareholder approval, the maximum number of common shares
issuable upon conversion of each US$1,000 principal amount of
notes in excess of the cash portion will be 28.

ASM International intends to use the net proceeds from the sale
of the notes to repay its US$115 million outstanding principal
amount of 5% convertible subordinated notes due November 2005,
either by purchase in the market or at maturity to the extent
such notes have not previously been converted or purchased, and
for other general corporate purposes.

The notes were issued in a private placement for resale by the
initial purchasers to qualified institutional buyers in reliance
on Rule 144A under the Securities Act of 1933, as amended, and
outside the United States in compliance with Regulation S under
the Securities Act and in reliance on Section 2(1) of the
Exemption Regulation pursuant to the Netherlands Act for the
Supervision of Securities Trading, as amended.  The notes have
not been registered under the Securities Act of 1933 or
applicable state securities laws, and unless so registered, may
not be offered or sold in the United States, except pursuant to
an applicable exemption from the registration requirements of
the Securities Act of 1933, and applicable state securities
laws.  The notes may only be offered or sold to individuals or
legal entities who or which trade or invest in securities in the
conduct of their profession or trade.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the notes.  This press release
is being issued pursuant to and in accordance with Rule 135c
under the Securities Act of 1933, as amended, and pursuant to
and in accordance with the Exemption Regulation pursuant to the
Netherlands Act for the Supervision of Securities Trading, as
amended.
                            *   *   *

In August, Standard & Poor's Ratings Services revised its
outlook on ASM International N.V. to stable from negative,
following steady improvements in the company's 100%-owned front-
end operations and the strengthening of the company's financial
profile.

At the same time, Standard & Poor's affirmed its ratings on the
company, including its 'B+' long-term corporate credit ratings
and all related debt ratings.

The company had sales of EUR719 million (US$875 million) and
EBITDA of EUR73 million in the 12 months to June 30, 2004.  At
June 30, 2004, ASM had total debt of EUR210 million, and net
debt of EUR38 million.

CONTACT:  ASM INTERNATIONAL N.V.
          Robert L. de Bakker
          Bilthoven, the Netherlands
          Phone: +31 30 2298540
          E-mail: robert.de.bakker@asm.com

          Mary Jo Dieckhaus
          New York City
          Phone: (212) 986-2900
          E-mail: maryjo.dieckhaus@asm.com


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


DAIRY ZNAMENSKIY: Deadline for Proofs of Claim January
------------------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
proceedings against Dairy Znamenskiy after finding the open
joint stock company insolvent.  The case is docketed as A64-
5127/02-2.  Mr. M. Smagin has been appointed insolvency manager.
Creditors have until Jan. 8, 2005 to submit their proofs of
claim to Russia, Tambov, K. Marksa Str. 55, Apartment 2.

CONTACT:  DAIRY ZNAMENSKIY
          Russia, Tambov region,
          Znamenskiy region, Vorontsovka

          Mr. M. Smagin
          Insolvency Manager
          Russia, Tambov, K. Marksa Str. 55, Apartment 2


KRIVOSHEYEVSKOYE: Bankruptcy Hearing Resumes February
-----------------------------------------------------
The Arbitration Court of Belgorod region has commenced
bankruptcy supervision procedure on limited liability company
Krivosheyevskoye.  The case is docketed as A08-12140/04-11.  Mr.
S. Taranov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 309000, Russia,
Belgorod region, Prokhorovskiy region, Krivosheyevka.  A hearing
will take place on Feb. 3, 2005.

CONTACT:  KRIVOSHEYEVSKOYE
          309000, Russia, Belgorod region,
          Prokhorovskiy region, Krivosheyevka

          Mr. S. Taranov
          Temporary Insolvency Manager
          309000, Russia, Belgorod region,
          Prokhorovskiy region, Krivosheyevka


METROMEDIA INTERNATIONAL: Absorbs Another Nine-month Loss
---------------------------------------------------------
            METROMEDIA INTERNATIONAL GROUP, INC.
          Consolidated Condensed Statements of Operations
             (in thousands, except per share amounts)
                            (unaudited)


                    Three months ended   Nine months ended
                     September 30,     September 30,
                             2004    2003     2004     2003

Revenues          US$20,040 US$18,633 US$57,915 US$53,089

Cost and expenses:

Cost of services        6,913     6,248   18,658   17,014

Selling, general and administrative
                             6,471    10,200   22,085   35,425

Depreciation and amortization
                             5,693     5,040   17,382   15,255

Operating income (loss)    963    (2,855)    (210) (14,605)
Other (expense) income:

Equity in income of unconsolidated investees
                             6,811     3,558   16,785   10,417

Interest expense, net     (4,076)   (4,058) (11,952) (13,755)
Minority interest       (3,192)   (2,342)  (7,334)  (6,330)
Foreign currency (loss) income
                              (292)      (62)    (365)    (466)
Gain on retirement of debt    -      465     -    24,582

Gain on disposition of businesses
                                 -    12,031        -    12,031

Other (expense) income, net  (80)   66     (114)        5


Income (loss) before income tax expense,
discontinued components and the cumulative
effect of a change in accounting principle
                               134     6,803   (3,190)   11,879

Income tax expense     (1,164)   (1,766)  (4,986)   (5,249)

(Loss) income before discontinued
components and the cumulative
effect of a change in accounting principle
                            (1,030)    5,037   (8,176)   6,630

Income (loss) from discontinued components
                               928   (1,588)  7,756    8,251

Cumulative effect of a change in accounting principle
                                -      -    -     2,012

Net (loss) income     (102)    3,449  (420)   16,893

Cumulative convertible preferred stock dividend requirement
                   (4,739)   (4,410) (13,965) (12,997)

Net (loss) income attributable to common stockholders (US$)
                       (4,841)     (961) (14,385)   3,896

(Loss) income per common share attributable to common
stockholders-Basic and Diluted:


Continuing operations (US$) (0.06)     0.01    (0.23)   (0.07)
Discontinued components       0.01    (0.02)  0.08     0.09

Cumulative effect of a change in accounting principle
                         -     -     -        0.02

Net (loss) income per common share attributable to common
stockholders-Basic and Diluted (US$)
                             (0.05)    (0.01)    (0.15)    0.04

Weighted average common shares - Basic and Diluted
                        94,035    94,035    94,035  94,035

See accompanying notes to unaudited consolidated condensed
financial statements.

               Recent Developments and Going Concern

Proposed Merger

On November 4, 2004, the Company announced that it had entered
into exclusive negotiations with an investor group composed of
Emergent Telecom Ventures, First National Holding, Capital
International Private Equity Fund IV, L.P. and Baring Vostok
Capital Partners (Cyprus) Limited concerning the Investor
Group's preliminary proposal to acquire the Company by merger.
The Investor Group's proposal assigns an aggregate preliminary
enterprise value to the Company of US$300.0 million, which
amount would be payable in cash and allocated as:

(a) Approximately US$152.0 million would be allocated to the
    retirement, following the closing of the acquisition of the
    Company by the Investor Group, of the Company's outstanding
    aggregate principal amount and fully accreted 10 1/2 Senior
    Discount Notes due 2007;

(b) An additional amount, estimated to be in the range of
    approximately US$11.7 million to US$16.5 million, would be
    used to fulfill certain contractual obligations to the
    Company's senior executives.  These contractual arrangements
    are currently being finalized between the Company's Board of
    Directors and the respective senior executives, and the
    Company intends to update its public filings with the
    modified senior executive contractual arrangements when
    complete; and

(c) The remainder would be allocated between the Company's
    preferred and common stockholders in a manner determined by
    the Company's Board of Directors prior to the execution of
    the definitive merger agreement and paid out to the
    stockholders in connection with the consummation of the
    Proposed Merger.

The proposal contains a number of conditions, including without
limitation, the Investor Group's successful completion of due
diligence during a limited exclusivity period, the Investor
Group obtaining commitments for all financing contemplated in
its acquisition proposal, the Company meeting currently
projected corporate cash balance and liability levels, and
negotiation and execution of definitive transaction agreements.

The Company has granted the Investor Group exclusivity until
January 17, 2005 to pursue a due diligence review of the Company
and negotiate a definitive merger agreement, subject to earlier
termination under certain circumstances.

If undertaken, the Proposed Merger would result in the Company
being merged with and into an entity wholly-owned by the
Investor Group.  The Company's current common and preferred
stockholders would not become stockholders of the post-merger
entity and would receive cash consideration for their stock
holdings in an amount dependent on the aforementioned Board-
determined allocation.  The Proposed Merger will require
approval by a majority of the Company's common stock.  This
approval will be solicited via a proxy statement that will
include further details of the Proposed Merger, the Board of
Directors recommendation, and other information customarily
contained in merger proxy statements.  Preparation of a proxy
statement and solicitation of a common stockholder vote would
follow signing of definitive agreements with the Investor Group.

The Company anticipates that a common stockholder vote on the
Proposed Merger will not occur before the end of the first
quarter 2005.  Although no vote of the Company's preferred
stockholders is required to approve the Proposed Merger, as a
practical matter discussions with significant holders of the
Company's preferred stock concerning disposition of merger
proceeds are likely to occur prior to concluding any definitive
merger agreement.

The Company has been actively assessing for some time practical
financial restructuring alternatives and business development
opportunities available to the Company.  This work included
assessment of current core business valuations and a pragmatic
assessment of the opportunities and risks associated with
continued pursuit and development of the Company's core
businesses on an as currently organized basis.  In connection
with this work, the Company also received and carefully
considered several third party merger and acquisition proposals
and various opportunities to refinance the Company's Senior
Notes.  The Board of Directors has concluded that the Proposed
Merger, if consummated, offers the best opportunity reasonably
available to maximize value for the Company's stakeholders.

There can be no assurances that any transaction with the
Investor Group or any other party will take place nor can any
assurance be given with respect to the timing or terms of any
such transaction.  Details of the terms of a final agreement, if
any, will be disclosed upon signing of definitive agreements.
The preliminary proposal made by the Investor Group is non-
binding and the Company has agreed, under certain circumstances,
to reimburse the Investor Group for a limited amount of its out-
of-pocket expenses incurred in connection with its due diligence
review and negotiation of definitive agreements.

Restructuring

In the first quarter of 2003, the Company embarked on an overall
restructuring of its business.  The Restructuring was prompted
by and was intended to resolve the severe liquidity issues that
had confronted the Company since the beginning of 2002.  In this
Restructuring, the Company undertook to sell its non-core
businesses, which at the beginning of the Restructuring included
nine cable television networks, twenty radio broadcasting
stations and various non-core telephony businesses located in
Western, Central and Eastern Europe.

Cash proceeds from these sales have mitigated short-term
corporate liquidity concerns and reduced the Company's
dependence upon cash distributions from its core businesses and
thus provided additional cash reserves to the core businesses to
enable them to further pursue their respective business
development initiatives.

In connection with the Restructuring, the Company also
substantially downsized its corporate headquarters staff and
undertook actions with the intended objective of significantly
decreasing its corporate overhead cash-burn rate.  The Company
had substantially completed all of the initiatives attributable
to the Restructuring at the end of the third quarter of 2004,
and as such, exited the Restructuring with the intent, prior to
engaging in the Proposed Merger, to focus on the continued
development of its core telephony businesses in Northwest Russia
and the Republic of Georgia.

The Company's core telephony businesses are now:

(a) PeterStar, the leading competitive local exchange carrier in
    St. Petersburg, Russia, in which the Company has a 71%
    ownership interest; and

(b) Magticom, the leading mobile telephony operator in the
    Republic of Georgia, in which the Company has an effective
    34.5% ownership interest.

Both PeterStar and Magticom are currently self-financed and hold
leading positions in their respective markets.  Furthermore, the
Company also currently intends to retain its ownership in Ayety
LLC, a cable television provider in Tbilisi, Georgia, in which
the Company has an 85% ownership interest and Telecom Georgia, a
long-distance transit operator in Tbilisi, Georgia, in which the
Company has a 30% ownership interest.  The Company expects that
these businesses can be further developed to strengthen the
market position of Magticom.

In addition, as of September 30, 2004 the Company has one radio
broadcast station and one cable television network which are
subject to pending sales agreements with prospective acquirers,
which are reflected at the lower of cost, less accumulated
losses or estimated net proceeds.  Prior to engaging in the
Proposed Merger, the Company intended to use its corporate cash
reserves to provide for the development of these core
businesses, with the expectation that their future dividend
distributions will be sufficient to meet, on a timely basis, the
Company's corporate overhead requirements and indebtedness
interest payment obligations, including those associated with
its Senior Notes.

Corporate Liquidity

The Company is a holding company; accordingly, it does not
generate cash flows from operations.  As a result, the Company
is dependent on the earnings of its subsidiaries and equity
investees and the distribution or other payment of these
earnings to it to meet its long term corporate cash outlay
requirements, in addition to making any cash distributions to
its stockholders.  The Company's Long Term Corporate Cash Outlay
Requirements consist of cash outlays for its corporate overhead
expenditure requirements, extinguishment of its Historic
Corporate Liabilities, and interest payment obligations
associated with its Senior Notes.

As such, the Company's Long Term Corporate Cash Outlay
Requirements do not include funding necessary to retire or repay
its outstanding Senior Notes.  The Company's business ventures
are separate legal entities that have no obligation to pay any
amounts the Company owes to third parties.  As a result,
although cash balances exist in these business ventures, due to
legal and contractual restrictions cash balances of the business
ventures cannot be readily accessed to meet the Company's
liquidity needs without the distribution of dividends, which
require formal declarations to effect transfers to the Company.
Furthermore, the dividend policy of Magticom must be approved by
the Company's partners and thus, is not under the Company's
exclusive control.

The Company has legacy liabilities as a result of the Company's
prior U.S. based business operating activities, principally
attributable to the business activities when the Company
operated under the names of "The Actava Group, Inc." and "Fuqua
Industries, Inc.", which include, but are not limited to,
employee benefit obligations to former employees (pension
obligations and provisions for medical and life insurance),
self-insurance reserves attributable to product liability and
workers compensation claims and environmental claims
(collectively, the Historic Corporate Liabilities).

As of September 30, 2004 and November 30, 2004, the Company had
US$40.5 million and US$34.7 million, respectively, of
unrestricted cash on hand, which is principally held in banks in
the U.S.  In addition, as of September 30, 2004, the Company's
consolidated business ventures held US$0.7 million of cash on
hand, which is held in banks in Russia.  Furthermore, as of
September 30, 2004, the Company's unconsolidated business
ventures had US$13.4 million of cash on hand, which is held in
banks in the Republic of Georgia.

The Company projects that its anticipated continuing dividends
from its core business operations and its current corporate cash
reserves will be sufficient for the Company to meet on a timely
basis its Long Term Corporate Cash Outlay Requirements through
September 30, 2007, the maturity date of the Senior Notes.
However, the Company cannot provide assurance that its core
businesses will perform to expectations and therefore generate
the forecasted cash flows for dividend distribution purposes, or
that the core businesses' free cash flows or their available
cash reserves will be distributed as shareholder dividends in
accordance with the Company's current expectations.  Therefore,
the Company cannot provide assurance that it will be able to
meet its Long Term Corporate Cash Outlay Requirements through at
least September 30, 2007.  The Company also is subject to legal
and contractual restrictions, including those under the
indenture for the Senior Notes, on its use of any cash proceeds
from the sale of its assets or those of its business ventures.

Separately, the Company projects that, as of [Tues]day, it has
sufficient corporate cash on hand to support the Company's
planned Long Term Corporate Cash Outlay Requirements through at
least March 31, 2005, including the Company's US$8.0 million
semi-annual interest payment on its Senior Notes due on March
31, 2005 and its planned cash outlays between now and March 31,
2005 attributable to the extinguishment of certain of the
Company's Historic Corporate Liabilities as related to employee
benefit obligations.  This projection does not include cash
inflows that might reasonably arise from cash proceeds realized
from dividend distributions from either PeterStar or Magticom,
which would further strengthen the Company's liquidity position.

However, the Company does not believe that, as of [Tues]day, it
has sufficient corporate cash on hand to support the Company's
planned Long Term Corporate Cash Outlay Requirements through
September 30, 2005, including the Company's US$8.0 million semi-
annual interest payment on its Senior Notes due on September 30,
2005, its planned cash outlays between now and September 30,
2005 attributable to the extinguishment of certain of the
Company's Historic Corporate Liabilities as related to employee
benefit obligations and the cash outlays attributable to the
restructuring of Dr. Jokhtaberidze's ownership interest in
Magticom, of US$18.2 million.

As previously indicated, the outstanding principal on the Senior
Notes becomes due in full on September 30, 2007 and the Company
does not currently anticipate that it can retire the Senior
Notes with internally generated cash flows, without the sale of
either its interest in PeterStar or its interests in both
PeterStar and Magticom.  In addition, failure on the part of the
Company to make any required payment of interest on the Senior
Notes would represent a default under the Senior Notes.  A
default, if not waived, could result in acceleration of the
Company's indebtedness, in which case the full amount of the
Senior Notes would become immediately due and payable.  If an
uncured default were to occur, the Company does not currently
anticipate that it can retire the Senior Notes with internally
generated cash flows without the sale of either its interest in
PeterStar or its interests in both PeterStar and Magticom.

Furthermore, the Company has not been successful with past
refinancing initiatives associated with the Senior Notes, and as
such, the Company might not be able to borrow sufficient funds
to remedy a situation where it's obligated to retire the Senior
Notes, either due to a uncured default situation or as a result
of the ultimate maturity of the Senior Notes.

If the Company is not able to satisfactorily address the
corporate liquidity issues described above, the Company may have
to resort to certain other measures, including ultimately
seeking the protection afforded under the U.S. Bankruptcy Code.
The Company cannot provide assurances at this time that it will
be successful in avoiding such measures.  Additionally, the
Company has a stockholders' deficit and has suffered recurring
operating losses and operating cash deficiencies.

The factors discussed above raise substantial doubt about the
Company's ability to continue as a going concern.  The condensed
consolidated financial statements do not include any adjustments
that might result from the outcome of this uncertainty.

In June 2004, the Company reached an agreement (the Board of
Director Nominee Agreement) with certain holders of the
Company's 7 1/4 cumulative convertible preferred stock who
represented to the Company that they held discretionary
authority (including the power to vote) with regard to 2.4
million shares or approximately 58% of the outstanding 4.1
million shares of Preferred Stock (the Participating Preferred
Stockholders).

Under the terms of the Board of Director Nominee Agreement, the
Participating Preferred Stockholders irrevocably waived the
right to request a special meeting of holders of Preferred Stock
to elect directors or take any action to request such a meeting;
such waiver to remain effective until immediately after the next
annual meeting of the Company's stockholders is held.  In
consideration of this waiver, Messrs. Gale and Henderson, who
were identified by the Participating Preferred Stock Holders as
director candidates, were elected as Class III Directors by the
Company's Board of Directors.  Their terms will expire at the
Company's next annual meeting of stockholders.  At the next
annual meeting, the holders of Preferred Stock will have the
right to vote separately as a class for the election of two
directors.  It is expected that Messrs. Gale and Henderson will
be nominated for election by the holders of Preferred Stock to
fill these two directorships.

The execution of the Board of Director Nominee Agreement was the
culmination of several discussions that the Company had with
several holders of the Company's Preferred Stock, which began in
late 2003 and had originated due to the fact that the Company
had not made six consecutive dividend payments on the Preferred
Stock.

According to the terms of the Preferred Stock, holders of 25% of
the voting power of the outstanding Preferred Stock became
entitled to compel the Company to call a special meeting of the
holders of the Preferred Stock for the purpose of electing two
new directors.  The Company believes that the Board of Director
Nominee Agreement was advantageous to the Company because it
eliminated the need to hold a special meeting, which would have
been both time consuming and expensive.

A full copy of the company's 10Q filing is available free of
charge at: http://bankrupt.com/misc/Metromedia10Q.pdf

CONTACT:  METROMEDIA INTERNATIONAL GROUP INC.
          Charlotte, North Carolina
          Web site: http://www.metromedia-group.com
          Contact:
          Mark Hauf, Chief Executive Officer
          Ernie Pyle
          Phone: 704-321-7383
          E-mail: investorrelations@mmgroup.com


METROMEDIA INTERNATIONAL: Discloses Pending Lawsuits
----------------------------------------------------
              Commitments and Contingencies

Risks Associated with the Company's Investments

The ability of the Company and its business ventures to
establish and maintain profitable operations is subject to,
among other things, significant political, economic and social
risks inherent in doing business in Russia and the Republic of
Georgia.  These include matters arising out of government
policies, economic conditions, imposition of or changes in
government regulations or policies, imposition of or changes to
taxes or other similar charges by government bodies, exchange
rate fluctuations and controls, civil disturbances, deprivation
or unenforceability of contractual rights, and taking of
property without fair compensation.

Escrowed Severance

As a condition to the sale, in November 2002, of the assets of
Snapper Inc. (a wholly owned subsidiary of the Company), the
Company was required to escrow monies owed to former employees
under their respective severance arrangements.  Such amounts
outstanding totaled US$1.0 million as of December 31, 2003.
During the first quarter of 2004, the Company settled the
remaining severance obligations with the former employees at a
discount, which resulted in the Company receiving US$0.3 million
of excess escrowed cash from the escrow agent.

Litigation

On March 31, 2003, Mr. James Campbell filed a complaint in the
Circuit Court of Walker County, Alabama against Turtle Shell,
Inc., formerly known as Snapper, Inc. for damages related to
injuries allegedly sustained by him while operating a Snapper
lawnmower.  In November 2002, the Company disposed of all assets
and most liabilities of Snapper, Inc. but retained certain
liabilities, including any obligations that may arise out of
this litigation.  Mr. Campbell died on July 14, 2003.  In light
of Mr. Campbell's death, his complaint was amended to include a
wrongful death claim and a claim of damages for any pain and
suffering incurred by Mr. Campbell from the time of injury until
death.  Mr. Campbell's estate was substituted as the plaintiff
in this action.  Also named as a defendant in this case is
Briggs & Stratton, the company that manufactured the engine of
the lawnmower.  On August 3, 2004, a settlement agreement was
reached among Mr. Campbell's estate, the Company and the other
co-defendant.  All claims against the Company have been
released.

In January 2004, a complaint was filed against the Company in
the Court of Chancery of the State of Delaware.  In the
complaint Mr. McLaughlin, the plaintiff, is seeking to enforce
his rights as a shareholder of the Company to inspect and copy
certain books and records of the Company.  The Company believes
that the request made by the plaintiff is overly broad and lacks
proper purpose and is preparing to defend its position in court.
However, in order to minimize costs of a potential trial, the
Company has entered into discussions with the plaintiff
regarding the nature of information sought by him and has
provided certain requested documents as appropriate.  No trial
has been scheduled in this case.  The Company is not in a
position to predict the outcome of any such proceedings, or the
extent to which they could adversely affect the Company's
financial condition and results of operations.

The Company is involved in other various legal and regulatory
proceedings.  While the results of any litigation or regulatory
issue contain an element of uncertainty, management believes
that the outcome of any of these known, pending or threatened
legal proceedings will not have a material effect on the
Company's consolidated financial position and results of
operations, except as noted above.

Georgian Matters

As previously disclosed, the Company has received letters from,
and corresponded with, two Georgian individuals involved in the
initial formation of certain of the Company's business ventures
in the Republic of Georgia.  These individuals allege that the
Company has not fully complied with its obligations to them
under certain contracts.  In addition, the individuals have
alleged that Company personnel may have violated the Foreign
Corrupt Practices Act (FCPA) and possibly engaged in other
improper or illegal conduct.  Concerning the allegations of
improper or illegal conduct, including FCPA allegations, an
investigation conducted by the Company's outside counsel failed
to uncover any specific factual support for these allegations.
With respect to the contractual claims, the Company entered into
a settlement agreement with one of the individuals.  Upon
investigation, the Company determined that the second
individual's allegations of contractual breach had no merit.

Mtatsminda Litigation

The Company has been involved in several commercial disputes
with Mtatsminda, the Company's 15% minority partner in its Ayety
business venture.  These commercial disagreements have resulted
in Mtatsminda filing a claim, on July 25, 2004, against
International Telcell SPS, Inc. (ITSPS), a subsidiary of the
Company, Ayety and Zurab Chigogidze, the General Director of
Ayety, for damages in the amount of GEL185,000 (US$90,000),
GEL23,000 (US$13,000) and GEL258,000 (US$130,000), respectively.
The claim was filed in the Mtatsminda District Court in Tbilisi,
Republic of Georgia.

In its complaint, Mtatsminda alleges that it suffered damages
because Ayety TV had used its cash resources to make payments to
ITSPS in repayment of a credit facility between Ayety and ITSPS.
Mtatsminda also claims that Ayety has not authorized the credit
facility.  Mtatsminda further alleges that Ayety's funds should
have been used to make dividend payments to Mtatsminda.  On
September 15, 2004, ITSPS filed a counterclaim stating that all
of Mtatsminda's claims are groundless.  ITSPS also challenged
Mtatsminda's standing in the case due to expiration of the
statute of limitations, non-payment of court duty and other
procedural matters.  ITSPS is prepared to defend its position in
court.  Based on the information available and due to the
relatively low amounts of damages claimed, the Company believes
that these matters will not result in any material adverse
effect on the Company's business, financial condition or results
of operations.

Pension Benefit Guaranty Corporation

In the second quarter of 2004, the Company engaged in
discussions with the Pension Benefit Guaranty Corporation (PBGC)
regarding the Company's June 23, 2003 notice to the PBGC that
highlighted:

     (i) that the Company may have historically failed to timely
         satisfy certain minimum funding requirements with
         respect to one of its defined benefit pension plans;

    (ii) that the sale of corporate assets by a subsidiary of
         the Company may have triggered certain PBGC reporting,
         bonding and/or escrow requirements with respect to
         another one of its defined benefit pension plans;

   (iii) that the Company had recently added extra contributions
         to one of its defined benefit pension plans to remedy a
         previous period funding shortfall situation, and

    (iv) that the Company believes that there are no further
         corrective actions required with respect to either
         defined benefit pension plan.  In a letter dated August
         6, 2004, the Company was informed by the PBGC that the
         PBGC does not intend to take any action with respect to
         the matter addressed in the Company's June 23, 2003
         notice.

Related Party Transactions

Metromedia Company, a significant common shareholder of the
Company, provides certain consulting services to the Company on
an hourly basis as requested by the Company in the areas of tax,
legal and investor relations pursuant to a Consulting Services
Agreement (the CSA).  For the nine months ended September 30,
2004 and 2003, the Company incurred consulting fees of US$0.2
million and US$0.3 million, respectively, pursuant to the CSA.
A significant portion of the consulting fees incurred under the
CSA in the first half of 2004 and 2003 is principally related to
tax consulting related services with the remainder for executive
managerial, legal and other services.

The Company anticipates that future services by Metromedia
Company will be principally related to executive managerial
services, since Metromedia Company ceased providing significant
tax consulting services to the Company in May 2004.

Services provided by Metromedia Company pursuant to the CSA have
been provided as requested by the Company and have been invoiced
to the Company at agreed-upon hourly rates.  There is no minimum
required level of services.  The Company is also obligated to
reimburse Metromedia Company for all of its out-of-pocket costs
and expenses incurred and advances paid by Metromedia Company in

connection with services performed by it under the CSA.

Pursuant to the CSA, the Company agreed to indemnify and hold
Metromedia Company harmless from and against any and all
damages, liabilities, losses, claims, actions, suits,
proceedings, fees, costs or expenses (including reasonable
attorneys' fees and other costs and expenses incident to any
suit, proceeding or investigation of any kind) imposed on,
incurred by or asserted against Metromedia Company in connection
with the agreement, other than those in any way relating to or
resulting from the gross negligence or willful misconduct of
Metromedia Company, its employees, consultants or other
representatives.  The CSA continues in effect unless and until
Metromedia Company or the Company provides written notice of
termination to the other party, whereupon the CSA will terminate
immediately.

A full copy of the company's 10Q filing is available free of
charge at: http://bankrupt.com/misc/Metromedia10Q.pdf

CONTACT:  METROMEDIA INTERNATIONAL GROUP, INC.
          Headquarters: Charlotte, North Carolina
          Web site: http://www.metromedia-group.com
          Contact:
          Mark Hauf, Chief Executive Officer
          Ernie Pyle
          Phone: 704-321-7383
          E-mail: investorrelations@mmgroup.com


MORSHANSK-AGRO-PROM-SNAB: Declared Insolvent
--------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
proceedings against Morshansk-Agro-Prom-Snab after finding the
open joint stock company insolvent.  The case is docketed as
A64-1409/04-18.  Mr. M. Smagin has been appointed insolvency
manager.  Creditors have until Jan. 8, 2005 to submit their
proofs of claim to Russia, Tambov, K. Marksa Str. 55, Apartment
2.

CONTACT:  MORSHANSK-AGRO-PROM-SNAB
          Russia, Tambov region,
          Morshanskiy region, Ustyinskiy

          Mr. M. Smagin
          Insolvency Manager
          Russia, Tambov, K. Marksa Str. 55, Apartment 2


NEW HARVEST: Hires M. Smagin as Insolvency Manager
--------------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
proceedings against New Harvest after finding the close joint
stock company insolvent.  The case is docketed as A64-4522/03-2.
Mr. M. Smagin has been appointed insolvency manager.  Creditors
have until Jan. 8, 2005 to submit their proofs of claim to
Russia, Tambov, K. Marksa Str. 55, Apartment 2.

CONTACT:  NEW HARVEST
          Russia, Tambov region,
          Znamenskiy region, Karian

          Mr. M. Smagin
          Insolvency Manager
          Russia, Tambov, K. Marksa Str. 55, Apartment 2


OBSHE-PIT: Insolvency Manager Enters Firm
-----------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
proceedings against Obshe-Pit after finding the limited
liability company insolvent.  The case is docketed as A64-
592/04-18.  Mr. M. Smagin has been appointed insolvency manager.
Creditors have until Jan. 8, 2005 to submit their proofs of
claim to Russia, Tambov, K. Marksa Str. 55, Apartment 2.

CONTACT:  OBSHE-PIT
          Russia, Tambov region, Zherdeyevka

          Mr. M. Smagin
          Insolvency Manager
          Russia, Tambov, K. Marksa Str. 55, Apartment 2


SPASSKOYE: Primorye Court Opens Bankruptcy Proceedings
------------------------------------------------------
The Arbitration Court of Primorye region has commenced
bankruptcy proceedings against Spasskoye after finding the close
joint stock company insolvent.  The case is docketed as A51-
3866/2004-21-39b.  Mr. I. Zagorulko has been appointed
insolvency manager.  Creditors have until Jan. 8, 2005 to submit
their proofs of claim to 692224, Russia, Primorye region,
Spasskiy region, Busevka, Sovetskaya Str. 19.

CONTACT:  SPASSKOYE
          692224, Russia, Primorye region,
          Spasskiy region, Busevka, Sovetskaya Str. 19

          Mr. I. Zagorulko
          Insolvency Manager
          692224, Russia, Primorye region,
          Spasskiy region, Busevka, Sovetskaya Str. 19


TAMBOV-GAS-STROY: Hires A. Morozov as Insolvency Manager
--------------------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
proceedings against Tambov-Gas-Stroy after finding the open
joint stock company insolvent.  The case is docketed as A64-
4443/99-2.  Mr. A. Morozov has been appointed insolvency
manager.

CONTACT:  TAMBOV-GAS-STROY
          Russia, Tambov, Kavaleriyskaya Str. 7a


USMAN-SELKHOZ-KHIMIYA: Creditors' Claims Due Next Month
-------------------------------------------------------
The Arbitration Court of Lipetsk region has commenced bankruptcy
proceedings against Usman-Selkhoz-Khimiya (TIN 4816005018) after
finding the open joint stock company insolvent.  The case is
docketed as A36-52-B/1-04.  Mr. S. Polyakov has been appointed
insolvency manager.  Creditors have until Jan. 8, 2005 to submit
their proofs of claim to 399370, Russia, Lipetsk region, Usman,
Tereshkovoy Str. 25, 40a.

CONTACT:  USMAN-SELKHOZ-KHIMIYA
          399372, Russia, Lipetsk region,
          Usmanskiy region, Prigorodka

          Mr. S. Polyakov
          Insolvency Manager
          399370, Russia, Lipetsk region,
          Usman, Tereshkovoy Str. 25, 40a


VOLOGDA-FURNITURE: Under Bankruptcy Supervision
-----------------------------------------------
The Arbitration Court of Vologda region has commenced bankruptcy
supervision procedure on open joint stock company Vologda-
Furniture.  The case is docketed as A13-4445/04-25.  Mr. V.
Ivanov has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 160011, Russia,
Vologda, Kozlenskaya Str. 59, Office 3.

CONTACT:  VOLOGDA-FURNITURE
          160002, Russia, Vologda,
          Leningradskaya Str. 71

          Mr. V. Ivanov
          Temporary Insolvency Manager
          160011, Russia, Vologda,
          Kozlenskaya Str. 59, Office 3


YUG-LES: Gives Creditors Until January to File Claims
-----------------------------------------------------
The Arbitration Court of Vologda region has commenced bankruptcy
proceedings against Yug-Les after finding the limited liability
company insolvent.  The case is docketed as A13-3319/04-25.  Mr.
A. Mokrov has been appointed insolvency manager.  Creditors have
until Jan. 8, 2005 to submit their proofs of claim to Russia,
Vologda, Pskovskaya 3, Apartment 149.

CONTACT:  YUG-LES
          Russia, Vologda region, Argunovo

          Mr. A. Mokrov
          Insolvency Manager
          Russia, Vologda, Pskovskaya 3, Apartment 149


YUKOS OIL: Indian Firm Shows Interest in Assets
-----------------------------------------------
India's Oil and Natural Gas Corp. (ONGC) plans to bid for the
assets of Yukos Oil, possibly in alliance with a Russian
partner, according to Dow Jones.

The report quoted India's Petroleum Minister Mani Shankar Aiyar
saying Russian President Vladimir Putin is open to the idea of
letting in Indian companies in the auction of some of Yukos'
assets.  The government is selling Yuganskneftegaz, the firm's
major oil production unit, at an auction on Dec. 19 to pay for
Yukos tax arrears.  The starting price for the bids is set at
US$8.65 billion (EUR6.5 billion).  So far only Gazprom has
confirmed its intention to bid.  Press Trust of India said ONGC
may form an alliance with Gazprom for an offer.

Yukos has promised to launch a tough legal battle against
companies that would attempt to snatch the unit, which accounts
for more than 60% of its total oil production.  The company
considers the starting price too low and insists that bailiffs
have no right to sell core assets to settle the tax bill.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          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 P A I N
=========


IZAR: Unions Hold Divergent Views on Progress of Negotiations
-------------------------------------------------------------
Unions at the La Naval shipyard of troubled shipbuilder Izar
have contrasting views over the ongoing talks on the plan to
split the struggling group, El Pais says.

At La Naval's workers' committee meeting Monday, both the
Confederacion Sindical de Comisiones Obreras (CCOO) and Union
General de Trabajadores (UGT), which represent the majority of
employees at the shipyard, stressed that negotiations with
Sociedad Estatal De Participaciones Industriales (SEPI), the
state industrial holding company, have made remarkable progress.
However, the CAT and ELA unions believe otherwise, saying the
situation at Izar is worse than ever.

SEPI plans to separate the shipbuilder's military and civilian
divisions.

CONTACT:  IZAR CONSTRUCCIONES NAVALES a.s.
          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


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


AGROBUDKOMPLEKT: Succumbs to Bankruptcy
---------------------------------------
The Economic Court of Lugansk region commenced bankruptcy
proceedings against Agrobudkomplekt (code EDRPOU 30896964) on
October 5, 2004 after finding the limited liability company
insolvent.  The case is docketed as 10/24 b.  Arbitral manager
Mr. Oleksandr Roj (License Number AA 250489) has been appointed
liquidator/insolvency manager.

CONTACT:  AGROBUDKOMPLEKT
          Ukraine, Lugansk region,
          Starobilsk, Yuzhna Str. 1

          Mr. Oleksandr Roj
          Liquidator/Insolvency Manager
          93500, Ukraine, Lugansk region,
          Novoajdarskij district,
          Rajgorodka, Radyanska Str. 7

          ECONOMIC COURT OF LUGANSK REGION
          91000, Ukraine, Lugansk region,
          Geroiv VVV Square, 3a


AVANGARD: Proofs of Claim Deadline Nears
----------------------------------------
The Economic Court of Poltava region has commenced bankruptcy
supervision procedure on Agricultural LLC Avangard (code EDRPOU
30879713).  The case is docketed as 10/227.  Mr. Volodimir
Nesvit (License Number AA 047993) has been appointed temporary
insolvency manager.  The company holds account number 260052397
at JSB Poltava-bank, MFO 331489.

Creditors have until December 10, 2004 to submit their proofs of
claim to:

(a) AVANGARD
    37251, Ukraine, Poltava region,
    Lohvitskij district, Iskivtsi

(b) Mr. Volodimir Nesvit
    Temporary Insolvency Manager
    36003, Ukraine, Poltava region,
    Nezalezhnosti Square, 1-b, Room 18

(c) ECONOMIC COURT OF POLTAVA REGION
    36000, Ukraine, Poltava region,
    Zigina Str. 1


INTERFIRMA: Under Bankruptcy Supervision
----------------------------------------
The Economic Court of Mikolaiv region has commenced bankruptcy
supervision procedure on Interfirma (code EDRPOU 13847293).
The case is docketed as 4/382.  Arbitral manager Mrs. Nataliya
Suhorukova (License Number AA 485219) has been appointed
temporary insolvency manager.  The company holds account numbers
260015283 and 260034879 at JSPPB Aval, Mikolaiv regional branch,
MFO 326182.

Creditors have until December 10, 2004 to submit their proofs of
claim to:

(a) NTERFIRMA
    54001, Ukraine, Mikolaiv region,
    Radyanska Str. 3

(b) Mrs. Nataliya Suhorukova
    Temporary Insolvency Manager
    Ukraine, Kirovograd region,
    Timiryazev Str. 62/2-7

(c) ECONOMIC COURT OF MIKOLAIV REGION
    54009, Ukraine, Mikolaiv region,
    Admiralska Str. 22


KALINIVSKIJ TIN: Period for Filing of Claims Ends Friday
--------------------------------------------------------
The Economic Court of Vinnitsya region has commenced bankruptcy
supervision procedure on LLC Kalinivskij Tin Plant (code EDRPOU
05413652).  The case is docketed as 10/147-04.  Mr. Yurij
Tushevskij (License Number AA 250425) has been appointed
temporary insolvency manager.  The company holds account number
2600110737 at JSPPB Aval, MFO 302247.

Creditors have until December 10, 2004 to submit their proofs of
claim to:

(a) KALINIVSKIJ TIN PLANT
    22400, Ukraine, Vinnitsya region,
    Kalinivka, Ostrovskij Str. 60

(b) Mr. Yurij Tushevskij
    Temporary Insolvency Manager
    Ukraine, Vinnitsya region,
    40-Richya Peremogi Str. 27/57
    Phone: (0432) 53-53-09

(c) ECONOMIC COURT OF VINNITSYA REGION
    21036, Ukraine, Vinnitsya region,
    Hmelnitske Shose, 7


KERAMIK: Court Appoints Temporary Insolvency Manager
----------------------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
supervision procedure on Keramik (code EDRPOU 23654796).  The
case is docketed as 2/257 B.  Mr. Mariya Golovata (License
Number AA 249502) has been appointed temporary insolvency
manager.

The company holds account number 26005301230369 at JSCB
Prominvestbank, MFO 315416.

CONTACT:  KERAMIK
          32307, Ukraine, Hmelnitskij region,
          Kamyanets-Podilskij district, Olenivka

          Mr. Mariya Golovata
          Temporary Insolvency Manager
          32300, Ukraine, Hmelnitskij region,
          Kamyanets-Podilskij, Kusheleva Str. 2

          ECONOMIC COURT OF HMELNITSKIJ REGION
          29000, Ukraine, Hmelnitskij region,
          Nezalezhnosti Square, 1


PERVOMAJSKA AUTOBASE: Harkiv Court Opens Bankruptcy Proceedings
---------------------------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Pervomajska Autobase (code EDRPOU 01268408)
on November 1, 2004 after finding the open joint stock company
insolvent.  The case is docketed as B-19/52-04.  Mr. Yevgen
Chipizhenko (License Number AA 419260) has been appointed
liquidator/insolvency manager.

The company holds account number 26005301812370 at
Prominvestbank, Pervomajskij branch, MFO 351458.

CONTACT:  PERVOMAJSKA AUTOBASE
          64100, Ukraine, Harkiv region,
          Pervomajskij, Polyova Str. 8

          Mr. Yevgen Chipizhenko
          Liquidator/Insolvency Manager
          61002, Ukraine, Harkiv region,
          Sumska Str. 82, Office 17
          Phone: 714-22-16

          ECONOMIC COURT OF HARKIV REGION
          61022, Ukraine, Harkiv region,
          Svobodi Square, 5, Derzhprom, 8th entrance


TRANSPORTNIK: Court Appoints Liquidator
---------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Transportnik (code EDRPOU 21957920) on
October 25, 2004 after finding the open joint stock company
insolvent.  The case is docketed as 42/45 B.  Arbitral manager
Mr. Dmitro Galunets (License Number AA 419467) has been
appointed liquidator/insolvency manager.

CONTACT:  TRANSPORTNIK
          83022, Ukraine, Donetsk region,
          Gladkovskij Str. 9

          Mr. Dmitro Galunets
          Liquidator/Insolvency Manager
          84638, Ukraine, Donetsk region,
          Gorlivka, Captain Ostapenko Str. 28/91
          Phone: (0624) 12-31-83
                 8 (050) 164-31-38

          ECONOMIC COURT OF DONETSK REGION
          83048, Ukraine, Donetsk region,
          Artema Str. 157


UKRAINA: Last Day for Filing of Claims Friday
---------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Ukraina (code EDRPOU 30916629) on September
15, 2004 after finding the limited liability company insolvent.
The case is docketed as B-48/92-04.  Arbitral manager Mr.
Volodimir Matsokin (License Number AA 249724) has been appointed
liquidator/insolvency manager.  The company holds account number
26009000047 at JSPPB Aval, Izum branch, MFO 350589.

Creditors have until December 10, 2004 to submit their proofs of
claim to:

(a) UKRAINA
    64341, Ukraine, Harkiv region,
    Izum district, Kamyanka, Ukrainska Str. 7

(b) Mr. Volodimir Matsokin
    Liquidator/Insolvency Manager
    Ukraine, Harkiv region,
    Izum, Soborna Str. 22

(c) ECONOMIC COURT OF HARKIV REGION
    61022, Ukraine, Harkiv region,
    Svobodi Square, 5, Derzhprom, 8th entrance


UKRAINIAN TRADE: Bankruptcy Proceedings Begin
---------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Ukrainian Trade System (code EDRPOU
31528774) on September 23, 2004 after finding the limited
liability company insolvent.  The case is docketed as 6/269-
4/151.  Arbitral manager Mr. Rostislav Gredil has been appointed
liquidator/insolvency manager.

CONTACT:  UKRAINIAN TRADE SYSTEM
          Ukraine, Lviv region,
          Zhovkivskij district, Malehiv,
          Konovaltsya Str. 31 b

          ECONOMIC COURT OF LVIV REGION
          79010, Ukraine, Lviv region,
          Lichakivska Str. 81


ZORYA: Insolvency Manager Takes over Operations
-----------------------------------------------
The Economic Court of Cherkassy region commenced bankruptcy
proceedings against Zorya (code EDRPOU 03792295) on October 8,
2004 after finding the limited liability company insolvent.  The
case is docketed as 01/1211.  Arbitral manager Mr. Sergij
Gorbach (License Number 630134) has been appointed
liquidator/insolvency manager.

The company holds account number 26045370 at JSPPB Aval,
Cherkassy regional branch, MFO 354411.

CONTACT:  ZORYA
          19400, Ukraine, Cherkassy region,
          Korsun-Shevchenkivskij, Ukolova Str. 1

          Mr. Sergij Gorbach
          Liquidator/Insolvency Manager
          08720, Ukraine, Kyiv region, Ukrayinka, a/b 45
          Phone: (04472) 2-42-22
                 (067) 220-42-93
          E-mail: Gorbach@ukrainka.net

          ECONOMIC COURT OF CHERKASSY REGION
          18005, Ukraine, Cherkassy region,
          Shevchenko Avenue, 307


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


AIR-LIMO LIMITED: Royal Bank of Scotland Appoints PwC Receiver
--------------------------------------------------------------
The Royal Bank of Scotland called in Robert Jonathan Hunt and
Edward Mark Shires (Office Holder Nos 8597, 7925) administrative
receivers for Air-Limo Limited (Reg No 02798446, Trade
Classification: 28).  The application was filed Nov. 25, 2004.
The company leases luxury limousines and other vehicles.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Cornwall Court, 19 Cornwall Street,
          Birmingham B3 2DT
          Phone: [44] (121) 200 3000
          Fax:   [44] (121) 200 2464
          Web site: http://www.pwc.com


ARTESIA NATURAL: Meeting of Unsecured Creditors Set Next Week
-------------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

        IN THE MATTER OF Artesia Natural & Precious Ltd.
                        (In Receivership)

Notice is hereby given, pursuant to section 67(2) of the
Insolvency Act 1986, that a meeting of the unsecured creditors
of Artesia Natural & Precious Ltd. will be held at 10 Ardross
Street, Inverness, IV3 5NS, on December 14, 2004 at 11:30 a.m.
for the purposes of having laid before it a copy of the report
prepared by the Joint Receiver in accordance with the said
section and, if thought fit, appointing a creditors' committee.

Creditors whose claims are wholly secured are not entitled to
attend or vote at the meeting.  Creditors who are partly secured
may only vote in respect of the balance of the amount due to
them after deducting the value of the security, as estimated by
them.

For the purposes of voting a Statement of Claim together with a
form of proxy must be lodged with me at or before the meeting.

Notice is hereby given, pursuant to the Section 67(2)(b) of the
Insolvency Act 1986 that any unsecured creditor wishing to
obtain a copy of the Report prepared by the Joint Receiver, free
of charge, should write to the address below.

A. I. Fraser, Joint Receiver

CONTACT:  TENON RECOVERY
          10 Ardross Street
          Inverness IV3 5NS
          Phone: 01463 235321
          Fax: 01463 231040
          E-mail: inverness@tenongroup.com
          Web site: http://www.tenongroup.com


BARROW VILLAGE: Hires Liquidator from Tomlinsons
------------------------------------------------
At the extraordinary general meeting of the Barrow Village
Estates Limited on Nov. 23, 2004 held at Macdonald Tickled Trout
Hotel, Preston New Road, Samlesbury, Preston PR5 0UJ, the
resolutions to wind up the company were passed.  Alan H.
Tomlinson of Tomlinsons, St John's Court, 72 Gartside Street,
Manchester M3 3EL has been appointed liquidator for the purpose
of such winding-up.

CONTACT:  TOMLINSONS
          St John's Court,
          72 Gartside Street, Manchester M3 3EL
          Phone: 0870 60 70 170
          Fax:   0870 60 70 180
          E-mail: advice@tomlinsons.co.uk
          Web site: http://www.tomlinsons.co.uk


BEADHOPE LIMITED: Owners Opt to Dissolve Business
-------------------------------------------------
At the extraordinary general meeting of the members of the
Beadhope Limited on Nov. 15, 2004 held at PO Box 16, Town Hall
Square, Grimsby DN31 1HE, the extraordinary and ordinary
resolutions to wind up the company were passed.  Matthew Colin
Bowker and David Antony Willis of Jacksons Jolliffe Cork,
Lowgate House, Lowgate, Hull HU1 1EL have been appointed joint
liquidators for the purpose of such winding-up.

CONTACT:  JACKSONS JOLLIFFE CORK
          Lowgate House,
          Lowgate, Hull HU1 1EL
          Web site: http://www.jjcork.co.uk


BENSON MIDLANDS: In Administrative Receivership
-----------------------------------------------
The Royal Bank of Scotland called in Mark David Charles Hopkins
and Robert Jonathan Hunt (Office Holder Nos 8365, 8597)
administrative receivers for construction company Benson
Midlands Limited (Reg No 00654903, Trade Classification: 4521,
General Construction and Civil Engineering).  The application
was filed Nov. 30, 2004.  The company offers general contracting
services.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Cornwall Court, 19 Cornwall Street,
          Birmingham B3 2DT
          Phone: [44] (121) 200 3000
          Fax:   [44] (121) 200 2464
          Web site: http://www.pwc.com


BRIGHTVIEW LIMITED: Members Decide to Wind up Company
-----------------------------------------------------
At the extraordinary meeting of the members of the Brightview
Limited on Nov. 24, 2004 held at the offices of David Rubin &
Partners, 1st Floor, 26-28 Bedford Row, London WC1R 4HE, the
extraordinary resolution to wind up the company was passed.
Paul Appleton of David Rubin & Partners, 1st Floor, 26-28
Bedford Row, London WC1R 4HE has been appointed liquidator for
the purpose of such winding-up.

CONTACT:  DAVID RUBIN & PARTNERS
          26-28 Bedford Row, London WC1R 4HE
          E-mail: info@davidhornerandco.co.uk
          Web site: http://www.davidhornerandco.co.uk


BULKBAG LIMITED: Receivers Call Creditors' Meeting
--------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                IN THE MATTER OF Bulkbag Limited
                        (In Receivership)

Notice is hereby given in accordance with Section 67(2)
Insolvency Act 1986 that a meeting of the creditors of Bulkbag
Limited will be held at the Swallow Hotel, Invergowrie, Dundee,
DD2 5JT on December 20, 2004 at 11:00 a.m.

In accordance with rule 7.9(2) of the Insolvency (Scotland)
Rules 1986, a creditor is entitled to vote only if:

(a) Details of the debt claimed are submitted to the receivers
    in writing at or before the meeting; and

(b) Where the creditor cannot attend in person, a form of proxy
    which the creditor intends to be used on his behalf is
    lodged with the receivers before the meeting.

Creditors whose claims are fully secured are not entitled to
attend or be represented at the meeting.

Unsecured creditors may request a free copy of the Receivers'
report to be sent to them.

Claims, proxies or requests should be sent to the Receivers at
Deloitte & Touche LLP at the address below.

James Stephen, Joint Receivers

CONTACT:  DELOITTE & TOUCHE LLP
          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


CLOACA LIMITED: Members Final Meeting Set January
-------------------------------------------------
The final meeting of the members of the Cloaca Limited will be
on Jan. 12, 2005 commencing at 10:00 a.m.  It will be held at
Critchleys, Greyfriars Court, Paradise Square, Oxford OX1 1BE.

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.  Creditors who want to be represented
at the meeting may appoint proxies.

CONTACT:  CRITCHLEYS
          Greyfriars Court,
          Paradise Square, Oxford OX1 1BE


C & N DEVELOPMENTS: Hires P&A Partnership as Liquidator
-------------------------------------------------------
At the extraordinary general meeting of the C & N Developments
(1998) Limited on Nov. 30, 2004 held at Express by Holiday Inn
Southampton West, Adanac Park, Redbridge Lane, Nursling,
Southampton SO16, the extraordinary resolutions to wind up the
company were passed.  John Russell and Andrew Philip Wood of The
P&A Partnership, 93 Queen Street, Sheffield S1 1WF, Insolvency
Practitioners, duly qualified under the Insolvency Act 1986 have
been appointed the liquidators of the company for the purpose of
such winding-up.

CONTACT:  THE P&A PARTNERSHIP
          93 Queen Street
          Sheffield S1 1WF
          Phone: (0114) 275 5033
          Fax:   (0114) 276 8556
          E-mail: info@poppletonappleby.co.uk
          Web site: http://www.thepandapartnership.com


COMPROPERTY.COM LIMITED: Names Robson Laidler Liquidator
--------------------------------------------------------
At the extraordinary general meeting of the members of the
Comproperty.Com Limited on Nov. 29, 2004 held at the offices of
Robson Laidler LLP, Fernwood House, Fernwood Road, Jesmond,
Newcastle upon Tyne NE2 1TJ, the extraordinary and ordinary
resolutions to wind up the company were passed.  Mr. W. Paxton
of Robson Laidler LLP, of Fernwood House, Fernwood Road,
Jesmond, Newcastle upon Tyne NE2 1TJ has been appointed
liquidator of the company.

CONTACT:  ROBSON LAIDLER LLP
          Fernwood House, Fernwood Road,
          Jesmond, Newcastle upon Tyne
          Phone:  0191 281 8191
          Fax: 0191 281 6279
          Web site: http://www.robson-laidler.co.uk


CRM PROPERTY: Liquidator from T H Associates Enters Firm
--------------------------------------------------------
At the extraordinary general meeting of the members of the CRM
Property Development Limited on Nov. 25, 2004 held at the office
of Wensley Shaw Siney, Bank Chambers, Liverpool Road, Birkdale,
Southport PR8 4AR, the extraordinary resolution to wind up the
company was passed.  Timothy John Hargreaves of T H Associates,
Towngate House, 116-118 Towngate, Leyland PR25 2LQ has been
nominated liquidator for the purpose of such winding-up.

CONTACT:  T H ASSOCIATES
          Towngate House, 116-118 Towngate,
          Leyland PR25 2LQ
          E-mail: contactus@th-associates.com
          Web site: http://www.th-associates.com


DAYTIME WINDOWS: Hires Liquidator from Wilkins Kennedy
------------------------------------------------------
At the extraordinary general meeting of the members of the
Daytime Windows Ltd. (formerly Ultimate 1st Choice Ltd) on Nov.
25, 2004 held at 1 Nelson Street, Southend-on-Sea SS1 1EG, the
extraordinary and ordinary resolutions to wind up the company
were passed.  Stephen Paul Grant of Wilkins Kennedy, Risborough
House, 38-40 Sycamore Road, Amersham, Buckinghamshire HP6 5DZ
has been appointed liquidator of the company for the purpose of
the voluntary winding-up.

CONTACT:  WILKINS KENNEDY
          Risborough House, 38-40 Sycamore Road,
          Amersham, Buckinghamshire HP6 5DZ
          Phone: +44 (0) 1494 725544
          Fax:   +44 (0) 1494 431571
          E-mail: info@wilkinskennedy.com
          Web site: http://www.wilkinskennedy.com


DEAN PARK: Winding-up Report Due January
----------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

       IN THE MATTER OF Dean Park Hotels (Renfrew) Limited

                 Dean Park Hotels (Watford) Limited

                        DPH Management Limited

                Queens Moat Houses (Scotland) Limited

               The Kelvingrove Consulting Rooms Limited

                  The Lorne Hotel (Glasgow) Limited

                  Deanside Hotels (Holdings) Limited

                               and

                 Capital International Hotels Limited

Notice is hereby given, pursuant to Section 94 of the Insolvency
Act 1986, that a Final Meeting of the Members of Dean Park
Hotels (Renfrew) Limited, Dean Park Hotels (Watford) Limited,
DPH Management Limited, Queens Moat Houses (Scotland) Limited,
Kelvingrove Consulting Rooms Limited, The Lorne Hotel (Glasgow)
Limited, Deanside Hotels (Holdings) Limited and Capital
International Hotels Limited will be held at the offices of
Messes Begbies Traynor (Incorporating Taylor Gotham & Fry), The
Old Exchange, 234 Southchurch Road, Southend on Sea, Essex SS1
2EG on January 12, 2005 at 11:00 a.m. for the purposes of having
laid before it an account showing how the winding-up has been
conducted and the Company's property disposed of and hearing any
explanations that may be given by the Liquidator.

A Member entitled to attend and vote at the above Meeting may
appoint a proxy to attend and vote instead of him or her.  A
proxy need not be a Member of the company.

Mark Robert Fry, Liquidator
November 22, 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


DESICCANT DRY: Members Pass Extraordinary Winding up Resolution
---------------------------------------------------------------
At the extraordinary general meeting of the Desiccant Dry Air
Systems Limited on Dec. 1, 2004 held at Storey House, White
Cross, South Road, Lancaster LA1 4XF, the extraordinary
resolution to wind up the company was passed.  Jonathan M.
Timmis of J M Marriott & Co, Storey House, White Cross, South
Road, Lancaster LA1 4XF has been appointed liquidator for the
purpose of such winding-up.

CONTACT:  J M MARRIOTT & CO
          Storey House, White Cross,
          South Road, Lancaster LA1 4XF


D J SPECIALIST: Names Grant Thornton Liquidator
-----------------------------------------------
At the extraordinary general meeting of the D J Specialist
Clothing Limited on Nov. 22, 2004 held at Grant Thornton UK LLP,
43 Queen Square, Bristol BS1 4QR, the extraordinary and ordinary
resolutions to wind up the company were passed.  Nigel Morrison
of Grant Thornton UK LLP, 43 Queen Square, Bristol BS1 4QR has
been appointed liquidator of the company for the purpose of the
voluntary winding-up.

CONTACT:  GRANT THORNTON U.K. LLP
          43 Queen Square
          Bristol BS1 4QR
          Phone: 0117 926 8901
          Fax: 0117 926 5458
          Web site: http://www.grant-thornton.co.uk


DREAMCOSTUMES LTD: Hires Liquidator from Jeffreys Henry Jacobs
--------------------------------------------------------------
At the extraordinary general meeting of the members of the
Dreamcostumes Ltd. on Nov. 25, 2004 held at Fergusson House,
124-128 City Road, London EC1V 2NJ, the resolution to wind up
the company was passed.  C. M. Iacovides of Jeffreys Henry
Jacobs, 124-128 City Road, London EC1V 2NJ has been nominated
liquidator for the purpose of such winding-up.

CONTACT:  JEFFREYS HENRY JACOBS
          124-128 City Road, London EC1V 2NJ
          Phone: 020 7670 9010
          Fax: 020 7670 9011
          Web site: http://www.jhj.co.uk


FINMATICA LIMITED: Names KPMG Administrator
-------------------------------------------
Allan Watson Graham and Mark Jeremy Orton (IP Nos 8719, 8846)
have been appointed administrators for Finmatica Limited.  The
appointment was made Nov. 29, 2004.  The company manages supply
chain, software and consultancy.

CONTACT:  KPMG LLP
          2 Cornwall Street
          Birmingham B3 2RT
          Phone: (0121) 232 3000
          Fax:   (0121) 232 3500
          Web site: http://www.kpmg.co.uk


HIGHAIR LIMITED: Appoints Wilkins Kennedy Administrator
-------------------------------------------------------
Keith Aleric Stevens (IP No 8065) and Colin George Wiseman (IP
No 6712) have been appointed administrators for marketing
company Highair Limited.  The appointment was made Nov. 25,
2004.  Its registered office is located at 8-10 Lower James
Street, London W1F 9EL.

CONTACT:  WILKINS KENNEDY
          Gladstone House, 77-79 High Street,
          Egham, Surrey TW20 9HY
          Phone: +44 (0) 1784 435561
          Fax:   +44 (0) 1784 430584
          E-mail: egham@wilkinskennedy.com
          Web site: http://www.wilkinskennedy.com

          WILKINS KENNEDY
          Bridge House, London Bridge
          London SE1 9QR
          Phone: +44 (0) 20 7403 1877
          Fax: +44 (0) 20 7403 1605
          E-mail: london@wilkinskennedy.com
          Web site: http://www.wilkinskennedy.com


IP SUPPORT: Sets Creditors' Meeting December 21
-----------------------------------------------
The creditors of IP Support Limited will meet on Dec. 22, 2004
commencing at 10:30 a.m.  It will be held at Premier Lodge,
Knutsford North, Bucklow Hill, Knutsford, Cheshire WA16 6RD.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to CBA, 435 Lichfield Road, Aston, Birmingham B6 7SS
not later than 12:00 noon, Dec. 21, 2004.

CONTACT:  CBA
          435 Lichfield Road,
          Aston, Birmingham B6 7SS


JARVIS PLC: Closes Sale of UPP Business
---------------------------------------
Jarvis plc announces, further to its announcement of 1 September
2004, that it had signed Heads of Terms with the Alma Mater Fund
for the sale of its University Partnership Programme (UPP)
bidding and management operation, that the sale has now been
concluded.  The transaction will involve the transfer of 35
employees to a new company, UPP Projects Limited.

The Alma Mater Fund has previously partnered the UPP business
and the university clients in developing university student
accommodation projects and had recently acquired the economic
interests in a number of the investments held in the UPP joint
venture special purpose vehicles from Jarvis.  Alma Mater is a
joint venture partnership company managed by 3i and Barclays
Private Equity and aims to develop a portfolio of student
accommodation projects in partnership with universities across
the U.K.

CONTACT:  JARVIS
          Jonathan Haslam
          Phone: 020 7017 8147

          Merlin PR
          Paul Lockstone
          Phone: 020 7653 6620

          ALMA MATER FUND
          Robert McClatchey
          Phone: 020 7773 2523


JARVIS PLC: Receives GBP1.2 Million for PFI Bidding Operations
--------------------------------------------------------------
Jarvis plc said that further to the announcement on 12 November
2004, it has reached agreement with HOCHTIEF Developments (U.K.)
Limited, a wholly owned subsidiary of HOCHTIEF AG, to dispose of
its Private Finance Initiative (PFI) bidding business for a
consideration of GBP1.2 million payable on completion plus
deferred consideration of up to GBP300,000 if financial close is
achieved on two of the existing PFI bids within two months
following completion of the disposal.

The transaction will involve the transfer of approximately 12
employees and the assumption by Hochtief of two property leases.

The sale proceeds will be applied towards general Jarvis group
purposes.

In addition Jarvis has granted to Hochtief an option to take
over its rights and obligations under the facilities management
contracts in respect of the Belfast courts and Irish schools for
the sum of one pound.  That option is exercisable at any time up
to 16 December 2004.

CONTACT:  JARVIS PLC
          Phone: 020 7017 8147
          Jonathan Haslam

          Merlin PR
          Phone: 020 7653 6620
          Bridget Fury

          DRESDNER KLEINWORT WASSERSTEIN
          Phone: 020 7623 8000
          Michael Covington
          David Whiteley


MACALISTER & DUNDAS: Liquidator to Give Final Report December 30
----------------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

          IN THE MATTER OF MacAlister & Dundas Limited

Notice is hereby given pursuant to Section 94 of the Insolvency
Act 1986, that the final meeting of members of MacAlister &
Dundas Limited will be held at the offices of
PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street,
Leeds LS1 4JP on December 30, 2004 commencing at 2:30 p.m. for
the purpose of having an account laid before the members showing
how the winding-up has been conducted and the property of the
Company disposed of, and hearing any explanation that may be
given by the Liquidator.

A member entitled to attend and vote at the meeting may appoint
a proxy, who need not be a member to attend and vote instead of
him/her.

Tim Walsh, Joint Liquidator
November 24, 2004

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House
          33 Wellington Street
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax: [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


MATRIX COMPONENTS: Hires Liquidator from Grant Thornton
-------------------------------------------------------
At the extraordinary general meeting of the members of the
Matrix Components Limited on Nov. 25, 2004 held at 11 Clifton
Moor Business Village, James Nicolson Link, York YO30 4XG, the
special resolution to wind up the company was passed.  David
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 winding-up the company.

CONTACT:  GRANT THORNTON
          Grant Thornton House, Melton Street,
          Euston Square, London NW1 2EP
          Phone: 020 7383 5100
          Fax:   020 7383 4715
          Web site: http://www.grant-thornton.co.uk


MATRIX ESSENTIALS: Sets Final Meeting Next Year
-----------------------------------------------
The final meeting of the members of the Matrix Essentials
Limited will be on Jan. 7, 2005 commencing at 10:15 a.m.  It
will be held at the offices of PricewaterhouseCoopers LLP,
Benson House, 33 Wellington Street, Leeds LS1 4JP.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House, 33 Wellington Street,
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax:   [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


MHM BLACKSMITHS: Calls in Liquidator from Begbies Traynor
---------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

            IN THE MATTER OF MHM Blacksmiths Limited
                         (In Liquidation)

I, Ian Scott McGregor C.A., 4th Floor, 78 St Vincent Street,
Glasgow G2 5UB hereby give notice that I was appointed
Liquidator of MHM Blacksmiths Limited by Resolution of a Meeting
of Creditors held pursuant to Section 98 of the Insolvency Act
1986 on 23rd November 2004.

All creditors who have not already done so are required on or
before February 28, 2005 to lodge their claims with me.

I. Scott McGregor C.A, Liquidator
November 26, 2004

CONTACT:  BEGBIES TRAYNOR
          4th Floor
          78 St. Vincent Street
          Glasgow G2 5UB
          Phone: 0141 222 2230
          Fax: 0141 222 2330
          E-mail: liverpool@begbies-traynor.com
          Web site: http://www.begbies.com


MULTI-SPORTS LIMITED: Hires Administrators from Tenon Recovery
--------------------------------------------------------------
Simon R. Thomas and Trevor J. Binyon (IP Nos 8920, 9285) have
been appointed administrators for Multi-Sports Limited.  The
appointment was made Nov. 23, 2004.  The company retails sports
equipment.

CONTACT:  TENON RECOVERY
          Sherlock House
          73 Baker Street, London W1U 6RD
          Phone: 020 7935 5566
          Fax: 020 7935 3512
          E-mail: bakerstreet@tenongroup.com
          Web site: http://www.tenongroup.com


PIPELINE PROTECTION: Appoints Tenon Recovery Administrator
----------------------------------------------------------
Ian William Kings (IP No 7232) have been appointed administrator
for Pipeline Protection Limited.  The appointment was made Nov.
30, 2004.

The company manufactures protective compositions to pipework.
Its registered office is located at Tenon House, Ferryboat Lane,
Sunderland SR5 3JN.

CONTACT:  TENON RECOVERY
          Tenon House, Ferryboat Lane,
          Sunderland SR5 3JN
          Phone: 0191 511 5000
          Fax:   0191 511 5001
          Web site: http://www.tenongroup.com


QUADRILLE VIDEO: Liquidator Moves in
------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

     IN THE MATTER OF Quadrille Video Duplication Limited

Notice is hereby given that I, John Michael Hall of Haines
Watts, 9 Coates Crescent, Edinburgh, was appointed liquidator of
Quadrille Video Duplication Limited on November 19, 2004.

John Michael Hall, Liquidator
November 29, 2004

CONTACT:  HAINES WATTS
          9 Coates Crescent
          Edinburgh EH3 7AL
          Phone: 0131 225 4661
          Fax: 0131 225 4663
          Web site: http://www.hwca.com


RED BRICK: Liquidator's Report Out Later this Month
---------------------------------------------------
The final general meeting of the Red Brick Systems UK Limited
will be on Dec. 31, 2004 commencing at 11:00 a.m.  It will be
held at 1 More London Place, London SE1 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 who want to be represented at
the meeting may appoint proxies.

CONTACT:  ERNST & YOUNG LLP
          1 More London Place
          London SE1 2AF
          Phone: +44 [0] 20 7951 2000
          Fax:   +44 [0] 20 7951 1345
          Web site: http://www.ey.com


SIMON VENTURES: Members Pass Special Winding up Resolutions
-----------------------------------------------------------
At the extraordinary general meeting of the Simon Ventures
International Limited on Nov. 24, 2004 held at Grant Thornton
House, Melton Street, Euston Square, London NW1 2EP, the special
resolution to wind up the company was passed.  Roy Welsby of
Grant Thornton UK LLP, 1 Westminster Way, Oxford OX2 0PZ has
been appointed liquidator of the company for the purpose of the
voluntary winding-up.

CONTACT:  GRANT THORNTON
          1 Westminster Way,
          Oxford OX2 0PZ
          Phone: 01865 799899
          Fax: 01865 724420
          Web site: http://www.grant-thornton.co.uk


SOIRAM LIMITED: Bank of Scotland Calls in Receivers
---------------------------------------------------
Bank of Scotland called in Gareth Wyn Roberts and Paul William
Ellison (Office Holder Nos 1162/01 and 7254/03) joint
administrative receivers for Soiram Limited (Reg No 04473684,
Trade Classification: 48).  The application was filed Nov. 24,
2004.  The company is manages restaurant and nightclub.

CONTACT:  HURST MORRISON THOMSON CORPORATE RECOVERY LLP
          5 Fairmile, Henley on Thames,
          Oxfordshire RG9 2JR
          Phone: +44 (0) 1491 579866
          Fax:   +44 (0) 1491 573397
          E-mail: hmt@hmtgroup.co.uk


TXU EUROPE: SSE Expects More than GBP220 Mln in Compensation
------------------------------------------------------------
Following the failure of TXU Europe, which went into
administration in November 2002, a subsidiary of Scottish and
Southern Energy plc lodged a claim for over GBP300 million with
the administrators.

The claim is in respect of the termination of a 14-year contract
between SSE Energy Supply Ltd (SSEESL), a subsidiary of SSE, and
TXU Europe Energy Trading Ltd., originally entered into in 1997,
and was made under the terms of that contract.  In early 2003,
when the claim was submitted, SSE stated that it was well-placed
relative to other creditors and that it believed that more than
50% of it would be settled.

The administrators of TXU Europe Group plc (TXUEG) and certain
of its subsidiaries have issued an Information Memorandum in
relation to a company voluntary arrangement (CVA) which enables
TXUEG and certain of its subsidiaries to agree with its
creditors a Scheme of Arrangement which will determine how
outstanding debts should be paid, and in what proportions.

The majority of the creditors, including SSEESL, have entered
into 'lock-up' agreements under which these creditors have
agreed, or provisionally agreed, to vote in favor of the CVA.
The creditors' meeting to approve this is due to take place on
28 January 2005.

SSEESL's claim has been agreed at GBP294.2 million and, whilst
the CVA remains subject to creditor approval, SSE now expects
that more than 75% of its agreed claim will be settled.  As
previously stated, recovery from the administration will be
firstly offset against a debtor of GBP48 million.  The remaining
balance will be recognized in the profit and loss account, along
with the associated tax charge.

It is currently anticipated that the first distribution to CVA
creditors will be made on or around 31 March 2005, with other
distributions being made in the autumn of 2005 and the spring of
2006.

CONTACT:  TXU EUROPE
          Alan Young, Director of Corporate Communications
          Phone: 0870 900 0410

          Denis Kerby, Media and IR Manager
          Phone: 0870 900 0410


VECO PRODUCTS: Calls in Liquidator from Parkin S. Booth & Co.
-------------------------------------------------------------
At the extraordinary general meeting of the Veco Products
Limited on Nov. 30, 2004 held at Parkin S Booth & Co, 44 Old
Hall Street, Liverpool L3 9EB, the special resolution to wind up
the company was passed.  Robert M. Rutherford of Parkin S Booth
& Co, 44 Old Hall Street, Liverpool L3 9EB has been appointed
liquidator for the purpose of such winding-up.

CONTACT:  PARKIN S. BOOTH & CO.
          44 Old Hall Street,
          Liverpool L3 9EB


W G REALISATIONS: To Appoint Liquidator Mid-December
----------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

           IN THE MATTER OF W G Realisations Limited
                         (In Liquidation)

I, Blair Carnegie Nimmo, Chartered Accountant, KPMG, 191 West
George Street, Glasgow, G2 2LJ, United Kingdom, hereby give
notice, that by Interlocutor of the Sheriff of South
Strathclyde, Dumfries and Galloway at Airdrie dated November 18,
2004, I was appointed Interim Liquidator of W G Realisations
Limited (formerly Wilson & Garden Limited), having its
registered office at 95 Bothwell Street, Glasgow, G2 7JZ.

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 191 West George Street,
Glasgow, G2 2LJ at 11:00 a.m. on December 15, 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
November 25, 2004

CONTACT:  KPMG LLP
          191 West George Street
          Glasgow G2 2LJ
          Phone: (0141) 226 5511
          Fax: (0141) 204 1584
          Web site: http://www.kpmg.co.uk


WILLIAM LAWRENCE: Members Final Meeting Set January
---------------------------------------------------
The final meeting of the members of William Lawrence Limited
will be on Jan. 7, 2005 commencing at 10:00 a.m.  It will be
held at the offices of PricewaterhouseCoopers LLP, Benson House,
33 Wellington Street, Leeds LS1 4JP.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House,
          33 Wellington Street, Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax:   [44] (113) 289 4460
          Web site: http://www.pwcglobal.com


                            *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  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
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The TCR Europe subscription rate is US$575 per half-year,
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