TCREUR_Public/041223.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 23, 2004, Vol. 5, No. 254

                            Headlines

B U L G A R I A

BULGARTABAC HOLDING: Four Units Lose Manufacturing Licenses
CHIMCO: U.S. Investor Pursues Lawsuit to Recover Stake


C Z E C H   R E P U B L I C

BOHEMIANS PRAHA: Court Defers Bankruptcy Proceedings
IP BANKA: Anonymous Buyer Grabs CZK40 Bln Claim on CSOB


F R A N C E

ALSTOM SA: Closing U.K. Train Renovation Plant
MARIONNAUD PARFUMERIES: Restated First-half Results in Red
VIVENDI UNIVERSAL: Buying Back EUR400 Mln High Yield Notes


G E R M A N Y

AIRPORT SERVICE: Munchen Court Appoints Administrator
AKLS VERWALTUNGS: Management Firm Goes Bankrupt
BASSENG GESELLSCHAFT: Under Bankruptcy Administration
HALLE-SAALE: Applies for Bankruptcy Proceedings
LANDSBERGER STRASSE: Under Bankruptcy Administration

MWT METZ: Gives Creditors Until this Week to File Claims
RKM GMBH: Ceramics Firm Declares Bankruptcy
ROLF UND JOCHEN: Succumbs to Bankruptcy
ROMEO MATTO: Provisional Administrator Takes over Operations
SEB AG: Fitch Affirms 'C' Individual Rating
SUT SCHONERT: Creditors Claims Due Next Month


H U N G A R Y

PARAD CRYSTAL: Files for Liquidation


N E T H E R L A N D S

ASM INTERNATIONAL: Shareholders Approve Share Offering
ICTS INTERNATIONAL: 1st Qtr. Loss Up US$1.7 Mln After Write-down
ISPAT INTERNATIONAL: Merger Receives Anti-trust Clearance


R U S S I A

BUILDER: Deadline for Proofs of Claim Expires January
CHERNOBORSKIY: Hires I. Bulatov as Insolvency Manager
FERRO EXPORT: Chelyabinsk Court Opens Bankruptcy Proceedings
KETOVO-AGRO-TEKH-CENTRE: Sets Deadline for Proofs of Claim
NABEREZHANSKIY: Bankruptcy Hearing Resumes April Next Year

SAN: Gives Creditors Until January to File Claims
SULENSKIY ELEVATOR: Declared Insolvent
TALOVSKIY: Cheese maker Succumbs to Insolvency
ZAP-SIB-STROY-DESIGN: Tyumen Court Appoints Insolvency Manager
ZARYA: Creditors Have Until this Sunday to File Claims


S L O V E N I A

BANKA CELJE: 'C' Individual Rating Affirmed; Outlook Stable


S P A I N

BANCOVAL: Fitch Gives All Ratings Stable Outlook
IZAR: Redundancy Plan to Cost SEPI EUR1.3 Billion


U K R A I N E

GIGANT: Gives Creditors Until Friday to File Claims
LIPOVETS' MACHINE: Liquidator Enters Firm
SMAK: Under Sanction Proceedings Until May Next Year


U N I T E D   K I N G D O M

24 HR: Director Accepts Disqualification Order
ACCLAIM PARCELS: Members Opt for Liquidation
ALCHEMY ENTERTAINMENT: Hires Liquidator from Berley
ALUMINIUM OF SIBERIA: Final Meeting of Members Set
AMVESCAP LOAN: Liquidator to Give Final Update Next Month

ANDERSON TOWERS: Sets Members Final Meeting January 18
AORTECH INTERNATIONAL: Narrows Group Operating Loss
BLUE APPLE: Calls in Liquidator from A. Segal & Co
CABLE & WIRELESS: Grant Thornton Liquidator Enters Firm
CDE SOLUTIONS: Calls in Liquidator from UHY Hacker Young

C E J CONSTRUCTION: Names Royce Peeling Green Liquidator
CODEHAMMER ONLINE: Owners Decide to Dissolve Company
COMMUNICATION INTELLIGENCE: Names Liquidator
CRA (ST ALBANS): Hires Liquidator from Maidment Judd
CRUNCHWELL LIMITED: Liquidator's Final Report Out January

DAVID AARON: Defaults on Claims; FSCS Assumes Obligation
DIRECT RESOURCES: Hires Liquidator from Begbies Traynor
DUNCOPPIN ESTATES: Liquidator to Submit Final Report January
FAMILY SUPPORT: Creditors Meeting Set January 10
HARWOOD BATALLI: Special, Ordinary Winding up Resolutions Passed

HEATH INSURANCE: Hires Liquidator from Tomlinsons
IBMS LIMITED: Insolvency Service Bans Three Ex-directors
I.G CAMILLERI: Liquidator Takes over Helm
KNIGHTSBRIDGE SECURITY: Former Topman Banned for 14 Years
LETSDRIVE TRAINING: Hires Tenon Recovery as Administrator

NOTFARG LIMITED: Members Final General Meeting Set January
PARINGA MINING: Names Ernst & Young Liquidator
PINCO 2199: Calls in Liquidator from Kroll Limited
PRESTON GARDEN: Calls Final Members Meeting
P.V.Z SYSTEMS: Appoints Hurst Morrison Thomson Administrator

REVELL CONTINUITY: Calls in Joint Liquidators from Wilder Coe
SHORTRIDGE LTD.: Joint Receivers Take over Operations
SYRIUS (UK): Names Hurst Morrison Administrator
TELEWEST COMMUNICATIONS: Inks GBP1.8 Billion Loan Agreement
THE ADVANCE: Final Members Meeting Set January

THE INDEPENDENT: Names Jackson Jolliffe Administrator
TOM BRANDS: Creditors to Appoint Liquidator January
TRUSTCARE SECURITY: Calls First Meeting of Creditors
WIZZ AIR: 11th Hour Cash-infusion Saves Carrier from Bankruptcy


                            *********


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


BULGARTABAC HOLDING: Four Units Lose Manufacturing Licenses
-----------------------------------------------------------
The government suspended the licenses of four companies
belonging to Bulgartabac Holding Group, spokesman Dimitar Tsonev
announced at a news conference.

Rumen Porozhanov of the Finance Ministry said the companies
failed to comply with the requirements to obtain the license.
He identified the companies as Shumen BT, Pleven BT, Haskovo BT
and Assenovgrad-BT.

Georgi Kostov, executive director of Bulgartabac Holding, said
the companies will be restructured to process solely industrial
tobacco.  Some employees will be relocated to remaining
operations, while others will be axed.  About 25% of the firms'
800 people are expected to lose their jobs.

CONTACT:  Bulgartabac - Holding PLC
          62, Graf Ignatiev Str.
          1000 Sofia, Bulgaria
          Phone: +359 (2) 987 52 11
          Fax: +359 (2) 987 88 20
          Telex: 23288
          Web site: http://www.bulgartabac.bg


CHIMCO: U.S. Investor Pursues Lawsuit to Recover Stake
------------------------------------------------------
Representatives of U.S. company IBE Trade plans to rehabilitate
and arrange the debt restructuring of insolvent urea maker
Chimco, according to Sofia Echo.  That is, if the Supreme
Cassation Court, with which it has lodged a case to recover a
71% stake in the Vratsa-based firm decides in its favor.

The report says the U.S. is closely watching the case.  The U.S.
congress has moved a bill forbidding the secretary of defense
from signing any contract with Bulgaria without assurance that
U.S. citizens and companies are afforded full due legal process
in Bulgaria.  This means the U.S. government has to see a full
and fair resolution of the claims of IBE Trade for wrongful
conversion of its stake in Chimco.

In 2001, the supreme court of the state in New York convicted
Yuri Litvinenko, former manager of IBE, of illegal transfer of
IBE Trade shares to two offshore companies AVST and Jagwele.  It
also restored to the plaintiff ownership over Chimco.

Chimco was declared insolvent early in the month at the motion
of its creditors Bulgargaz and National Electric Company.  Boris
Borisov was appointed bankruptcy trustee.  He recently signed an
agreement with Italy's Indagro S.A. for a one-year lease of all
production facilities of the company.

CONTACT:  CHIMCO
          CHIMCO AD - 3037 Vratza, Bulgaria
          Phone: +359-92-61071
          Fax: +359-92-61118
          E-mail: info@chimco.bg
          Web site: http://www.chimco.bg


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


BOHEMIANS PRAHA: Court Defers Bankruptcy Proceedings
----------------------------------------------------
A regional commercial court has postponed the bankruptcy
proceedings against football club Bohemians Praha, Czech News
Agency says.

This came after the judge ruled there is not enough evidence to
put the club under bankruptcy proceedings.  Only one creditor,
Repo, has filed bankruptcy charges against Bohemians Praha,
claiming CZK0.3 million in unpaid debt.

Mr. Krizek described the court's ruling as "a positive report,"
as this means the club has not succumbed to bankruptcy.  Mr.
Krizek will meet the judge on January 10, 2005 to discuss
details of Bohemians' problems.  "This is only a discussion, not
for us to be assigned a bankruptcy administrator straight away,"
Mr. Krizek said.

CONTACT:  FC BOHEMIANS PRAHA a.s.
          Vrsovicka 31
          101 00 Prague 10
          Phone: 02 / 71721459
          Fax: 02 / 71721459
          E-mail: bohemka@mbox.vol.cz
          Web site: http://www.fc-bohemians.cz


IP BANKA: Anonymous Buyer Grabs CZK40 Bln Claim on CSOB
-------------------------------------------------------
The disputed claim on CSOB in relation to its purchase of IP
Banka four years ago has been sold to an unidentified buyer,
Czech Happenings reports.

The winning bidder, who bought the CZK40 billion claim for
CZK104 million on Monday, said he did not represent the state.
The claim represents the difference between the alleged value of
IPB and the symbolic CZK1 paid by CSOB for IPB's assets after
the bank's 2000 collapse.

CONTACT:  IP BANKA a.s.
          6410 V Celnici 10 Praha 1
          117 21
          Phone: 221033131
          Fax: 221033150
          Web site: http://www.ipbanka.cz


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


ALSTOM SA: Closing U.K. Train Renovation Plant
----------------------------------------------
Engineering group Alstom is shutting down its factory in
Eastleigh, near Southampton, as a result of a business review of
its U.K. renovation business, The Guardian reports.

The company said it has "no other option" but to halt operations
at the plant that currently runs at 50% capacity, and lacks
sufficient orders to last it beyond next year.  The closure will
result to the loss of 540 jobs.  Alstom will now concentrate on
refurbishment work at Glasgow and Wolverton near Milton Keynes.

A year ago, the firm announced plans to cut 50% of its 10,000
workforce in Birmingham, Stafford and Rugby.  It cited the bleak
economic prospects for train manufacturing, especially because
the British government is not helping the local industry keep
train building and power equipment contracts in the U.K.

Last week, French CGT union said Alstom was planning to cut
1,000 jobs on top of the previously announced 9,000, as part of
its restructuring efforts.  It may close a plant at Yvelines,
France, which employs 250.  In 2003, Alstom employed about
112,000 in more than 70 countries.

CONTACT:  ALSTOM S.A. (Euronext Paris: ALS )
          25, avenue Kleber
          75795 Paris Cedex 16, France
          Phone: +33-1-47-55-20-00
          Fax: +33-1-47-55-25-99
          Web site: http://www.alstom.com


MARIONNAUD PARFUMERIES: Restated First-half Results in Red
----------------------------------------------------------
Highlights of results for the first half of 2004:

(a) The results have notably been affected by changes in
    accounting methods and readjustment of miscalculations with
    no cash outflow;

(b) Sales progress: 8.5% on a like-to-like basis with constant
    exchange rates;

(c) Setting up means and reform of procedures for internal
    control.

                            S1 2004 (kEUR)        S1 2003 (kEUR)
Turnover                       515.326             498.012
Operating Results               -1.213              23.580
Current Results Before Company
Taxes                          -12.319              13.076
Exceptional Results             -3.951              -3.972
Readjustment of
Miscalculations                -93.009                --
Net Result/group shares        -78.960               6.375

Changes in Accounting Methods: Loyalty Points

In compliance with the emergency committee of the National
Accounting Council rulings of Oct. 13, 2004, the points acquired
prior to Dec. 31, 2003 by clients as part of the program to
increase customer loyalty, EUR5.354,000 were imputed to the
capital on June 30, 2004.  The expenses related to the first
half-year 2004 were listed in operating costs for a total of
EUR269,000 before tax impact.

Correcting Miscalculations and Estimates

Error in estimating the calculation of provisions for the end-
of-year rebate as well as the advertising display paid by the
suppliers up to EUR54,869 before taxes or EUR35,429 after taxes.

The analysis of the rebate accounts and the advertising display
on June 30, 2004 showed miscalculations in amounts to be
received before taxes relating to:

(a) The estimate of:

      (i) the purchase basis that generates the rebates,

     (ii) The estimate of the rate of anticipated rebates;

(b) Correcting the value of the foreign subsidiaries'
    inventories up to the amount of EUR9,488,000 before tax
    impact;

    This adjustment corresponds to the correction of the impact
    of end-of-year rebates in determining certain foreign
    subsidiaries' inventory cost price.

(c) Changes in the allocation of end-of-year rebates and
    advertising displays resulting in a reduction in inventory
    EUR17.853,000 before tax impact;

    Upon request by the auditors, the allocation of end-of-year
    rebates and advertising displays has been modified for the
    calculation of stock discount rate.

(d) Production cost for the loyalty cards in 2004 was EUR3,038
    before tax impact;

    To comply with the recommendations of the National
    Accounting Committee of Oct. 13, 2004, production cost for
    the loyalty cards, which had previously been listed as
    expenses to be paid off over a five-year period, was entered
    into the accounts as an exceptional expense on June 30,
    2004.

(e) Adjusting the provisions for risk for non-convertible
    Oceanes debentures up to EUR5,159,000 before tax impact;

    Upon request by the auditors, the amount of the provision on
    June 30, 2004 was calculated pro rata temporis and not on
    the progressive basis in function to the term of conversion.
    This line was entered into the accounts as an exceptional
    expense.

(f) Provision on a Spanish debt dating back to the acquisition
    of the creditor for EUR2.600,000.

These different re-adjustments, which affected the results, do
not generate any cash outflow for the company.

Turnover Progression

Like-to-like shop sales and constant exchange rates progressed
8.5% compared to the first half-year 2003, sales in France
progress 6.8% and abroad 12%.  Progression of the consolidated
turnover is +4% and is limited by a reduction of advertising
displays during the first half-year 2004.

Deterioration of Operating Results

The operating results have decreased to -EUR1.213,000. The main
cause for this deterioration resides in the no longer taking the
end-of-year rebate into account and the advertising displays
linked to reduction to date of the volume of purchases in the
first half-year, consecutive to the reduction in inventory
compared to Dec. 31, 2003.

In addition, the company has also noted a provision of EUR3.2
million on a bad debt that affects the operating results.

Perspectives for Fiscal Year 2004

In the present state of Marionnaud Parfumeries' activities, the
operating results 2004 should be equal to or superior to the
readjusted 2003 and 2002 results.

Marionnaud Parfumeries is taking all necessary measures in order
to reinforce its financial situation and to carry on its
commercial success.  The writings entered into account will
generate no cash outflow.  The measures taken make possible for
Marionnaud Parfumeries to consider the coming expiries with
serenity.

Means and Procedures Reform of In-house Controls

Recruiting of an experienced Chief Financial Officer has already
begun as well as reinforcing the internal audit department.


VIVENDI UNIVERSAL: Buying Back EUR400 Mln High Yield Notes
----------------------------------------------------------
Vivendi Universal (Paris Bourse: EX FP; NYSE: V) intends to
redeem all of its outstanding high yield notes[*] totaling
approximately EUR400 million in principal amount.  Redemption is
expected to occur on January 21, 2005.  Vivendi Universal will
send a formal Notice of Redemption to all holders of the notes
to be redeemed setting forth the details of the proposed
redemption.

After the sale of 15% of Veolia Environnement, this transaction
demonstrates Vivendi Universal's ongoing commitment towards the
efficient use of funds.

This transaction follows and completes the June 2004 purchase of
high yield notes.  Following the completion of this transaction,
none of the high yield notes issued by Vivendi Universal will
remain outstanding.

                            *   *   *

The notes not being listed in France, no documents relating to
the redemption have been submitted to the clearance procedures
of the French Autorite des marches financiers (AMF).

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
[*] High yield notes means the U.S. dollar-denominated 9.25%
Senior Notes due 2010 and euro-denominated 9.50% Senior Notes
due 2010, issued by Vivendi Universal in April 2003 and U.S.
dollar-denominated 6.25% Senior Notes due 2008 and euro-
denominated 6.25% Senior Notes due 2008, issued by Vivendi
Universal in July 2003.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

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
=============


AIRPORT SERVICE: Munchen Court Appoints Administrator
-----------------------------------------------------
The district court of Munchen opened bankruptcy proceedings
against Airport-Limousinen-Service Groh GmbH on Nov. 22, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Jan. 3, 2005 to
register their claims with court-appointed provisional
administrator Christian Gerloff.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 3, 2005, 10:10 a.m. at the district court of
Munchen, Infanteriestr. 5, Sitzungssaal 102, 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:  AIRPORT-LIMOUSINEN-SERVICE GROH GMBH
          Dachauer Str. 203-207 in 80637 Munchen

          Christian Gerloff, Insolvency Manager
          Nymphenburger Str. 139, 80636 Munchen
          Phone: 089/120260
          Fax: 089/12026137


AKLS VERWALTUNGS: Management Firm Goes Bankrupt
-----------------------------------------------
The district court of Erfurt opened bankruptcy proceedings
against AKLS Verwaltungs-GmbH on Nov. 23, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Jan. 17, 2005 to
register their claims with court-appointed provisional
administrator Nolte.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 31, 2005, 1:30 p.m. at the district court of
Erfurt, Justizzentrum, Rudolfstr. 46, 99092 Erfurt, Saal 12, 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:  AKLS VERWALTUNGS-GMBH
          Contact:
          Jana Arnold, Manager

          Nolte, Insolvency Manager
          Anger 47-49, 99084 Erfurt


BASSENG GESELLSCHAFT: Under Bankruptcy Administration
-----------------------------------------------------
The district court of Koln opened bankruptcy proceedings against
Basseng Gesellschaft on Nov. 22, 2004.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Jan. 10, 2005 to register their
claims with court-appointed provisional administrator Dr.
Rudiger Werres.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 16, 2005, 8:30 a.m. at the district court of
Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln, 1.
Etage, Saal 142, 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: BASSENG GESELLSCHAFT
         Gunther-Pluschow-Str. 3, 50829 Koln
         Contact:
         Karl - Heinz Basseng, Manager

         Dr. Rudiger Werres, Insolvency Manager
         Friesenplatz 17 a, 50672 Koln
         Phone: 0221/95 14 46 - 20
         Fax: +4922195144690


HALLE-SAALE: Applies for Bankruptcy Proceedings
-----------------------------------------------
The district court of Halle-Saalkreis opened bankruptcy
proceedings against Halle-Saale-Fernsehen GmbH on Nov. 24, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Jan. 20, 2005
to register their claims with court-appointed provisional
administrator Jorg Riedemann.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 22, 2005, 11:15 a.m. at the district court
of Halle-Saalkreis, Saal 1.043, Justizzentrum, Thuringer Str.
16, 06112 Halle, 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: HALLE-SAALE-FERNSEHEN GMBH
         Zerbster Str. 41, 06124 Halle
         Contact:
         Michael Gehrckens, Manager

         Jorg Riedemann, Insolvency Manager
         Muhlweg 47, D-06114 Halle
         Phone: 0345/293900
         Fax: 0345/2939029


LANDSBERGER STRASSE: Under Bankruptcy Administration
----------------------------------------------------
The district court of Kiel opened bankruptcy proceedings against
management firm Landsberger Strasse GmbH on Nov. 23, 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 Ute Jacob.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 25, 2005, 9:15 a.m. at the district court of
Kiel, Saal: 17, 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:  LANDSBERGER STRASSE GMBH
          Bergstr. 15, 24103 Kiel
          Contact:
          Alexander Thormalen

          Ute Jacob, Insolvency Manager
          Lorentzendamm 19, 24103 Kiel


MWT METZ: Gives Creditors Until this Week to File Claims
--------------------------------------------------------
The district court of Hannover opened bankruptcy proceedings
against MWT Metz Wasserreinigungstechnik GmbH on Nov. 22, 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 Tetzner.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 1, 2005, 8:20 a.m. at the district court of
Hannover, Dienstgebaude Hamburger Allee 26, 30161 Hannover, 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:  MWT METZ WASSERREINIGUNGSTECHNIK GMBH
          Up'n Kampe 6, 30938 Burgwedel
          Contact:
          Wolfgang Tetzner, Manager

          Manuel Sack, Insolvency Manager
          Theaterstr. 3, 30159 Hannover
          Phone: 0511/36602-0
          Fax: 0511/36602-55


RKM GMBH: Ceramics Firm Declares Bankruptcy
-------------------------------------------
The district court of Neuruppin opened bankruptcy proceedings
against ceramics manufacturing firm RKM Rheinsberger GmbH on
Nov. 24, 2004.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until Jan. 18, 2005 to register their claims with court-
appointed provisional administrator horst Piepenburg.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 17, 2005, 11:00 a.m. at the district court
of Neuruppin, Karl-Marx-Strasse 18a, 16816 Neuruppin, Saal 325,
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:  RKM RHEINSBERGER KERAMIK MANUFAKTUR GMBH
          Damaschkeweg 3, 16831 Rheinsberg
          Contact:
          Hans-Jurgen Nauendorf, Manager
          Christina Naundorf, Manager

          Horst Piepenburg, Insolvency Manager
          Heinrich-Heine-Allee 20, 40213 Dusseldorf


ROLF UND JOCHEN: Succumbs to Bankruptcy
---------------------------------------
The district court of Dresden opened bankruptcy proceedings
against Rolf und Jochen Fichtner GmbH on Nov. 11, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Dec. 24, 2004
to register their claims with court-appointed provisional
administrator Rudiger Wienberg from Hww.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 1, 2005, 10: 30 a.m. at the district court
of Dresden, Olbrichtplatz 1, 01099 Dresden, 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:  ROLF UND JOCHEN FICHTNER GMBH
          Sachsisches Backerhaus Meissen

          HWW
          Rudiger Wienberg, Insolvency Manager
          Wasastrasse 15, 01219 Dresden
          Web site: http://www.hww-kanzlei.de


ROMEO MATTO: Provisional Administrator Takes over Operations
------------------------------------------------------------
The district court of Koln opened bankruptcy proceedings against
ROMEO MATTO Gastronomie GmbH & CO on Nov. 25, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Jan. 25, 2005
to register their claims with court-appointed provisional
administrator Heinrich Drugh.

Creditors and other interested parties are encouraged to attend
the meeting on Jan. 27, 2005, 12:38 p.m. at the district court
of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln,
Erdgeschoss, Saal 14, 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:  ROMEO MATTO Gastronomie GmbH & CO. KG
          Pfeilstr. 25-27, 50672 Koln
          Teresa Favella, Manager

          Heinrich Drugh, Insolvency Manager
          Bochumer Str. 6, 51145 Koln
          Phone: 02203-977120
          Fax: +4922039771225


SEB AG: Fitch Affirms 'C' Individual Rating
-------------------------------------------
Fitch Ratings affirmed SEB AG's ratings at Long-term 'A+',
Short-term 'F1', Individual 'C' and Support '1'.  The Outlook on
the Long-term rating remains Stable.

SEB AG's Long-term, Short-term and Support ratings are based on
the support available from its parent, Sweden's Skandinaviska
Enskilda Banken (SEB).  Strategic decisions are taken by the
parent, and SEB AG's operations are closely monitored and
largely integrated into the group's business lines.

SEB AG's Individual rating reflects the bank's weak but
improving profitability, but also the restructuring efforts and
the clean-up of its loan portfolio as well as its adequate
capitalization.  Restructuring and strategic reorientation have
burdened recent performance.  However, cost effects should feed
through fully in the next year and SEB AG's focus changes from
restructuring and cost cutting towards intensified revenue
generation.

The bank remains heavily reliant on net interest revenue, and
margins remain low in Germany.  However, interim results showed
an improvement in merchant banking and net commission income,
triggered by increased fund sales and structured products for
corporate customers.  After years of consolidation, risk
weighted assets are building up again due to increased merchant
banking activities, but mortgages and public sector lending
still accounted for two-thirds of SEB AG's consolidated credit
exposure at end-June 2004.

SEB AG has historically suffered from asset quality problems,
but the implementation of SEB's credit risk policies has
improved asset quality.  After cleaning up the corporate
portfolio, SEB AG's non-performing loans mainly consist of
retail and property exposures, which appear well reserved at
group level.  The level of loan loss provisions was
significantly reduced in the first nine months of 2004 compared
with the previous year.

CONTACT:  FITCH RATINGS
          Holger Horn, Frankfurt
          Phone: +49 69 768076 190

          Mark Young, London
          Phone: +44 20 7417 4268

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327

          SEB AG
          Phone: 069-258-6401
          Fax: 069-258-6409
          Web site: http://www.seb.de


SUT SCHONERT: Creditors Claims Due Next Month
---------------------------------------------
The district court of Halle-Saalkreis opened bankruptcy
proceedings against SuT Schonert GmbH on Nov. 19, 2004.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Jan. 19, 2005
to register their claims with court-appointed provisional
administrator Christian Beck.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 16, 2005, 10:00 a.m. at the district court
of Halle-Saalkreis, Saal 1.043, Justizzentrum, Thuringer Str.
16, 06112 Halle, 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:  SUT SCHONERT GMBH
          Hutte 6, 06311 Helbra
          Contact:
          Otto Schonert, Manager

          Christian Beck, Insolvency Manager
          Hansering 1, D-06108 Halle
          Phone: 0345/212220
          Fax: 0345/2122222


=============
H U N G A R Y
=============


PARAD CRYSTAL: Files for Liquidation
------------------------------------
Debt-ridden crystal manufacturer Parad Crystal stopped operating
Tuesday, MTI-Econews says.

The group's creditors have been demanding Parad Crystal's
liquidation, after the firm failed to settle HUF300 million in
debts.  Parad Crystal's closure affected around 400 employees.
Human relations manager and Parad mayor Henrik Hollo hopes the
stoppage would be temporary and the firm could resume operations
on January 10, 2005.

The government recently sold Parad Crystal's owner, the
Hungarian Investment and Property Management, to Saye, a private
group.  The change in ownership has yet to be registered.

CONTACT:  PARAD CRYSTAL MANUFACTURE
          H-3242 Paradsasvar,
          Rakoczi u. 46-48
          Phone: 36/36 544 330
                 36/36 544 344
          Fax: 36/36 544 334
          E-mail: pkmoffice@paradcrystal.hu
          Web site: http://www.paradcrystal.hu


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


ASM INTERNATIONAL: Shareholders Approve Share Offering
------------------------------------------------------
ASM International (Nasdaq: ASMI; Euronext Amsterdam: ASM)
announced that it obtained on Tuesday the necessary shareholder
approval to issue additional common shares upon conversion of
its US$150 million Convertible Subordinated Notes due 2011.

As a result of the shareholder approval, the provision for
partial cash settlement upon conversion of the notes terminated
automatically.

ASM International expects the Convertible Notes to be listed on
the Euronext Amsterdam Stock Exchange on or about December 24,
2004.

                            *   *   *

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. (Euronext Amsterdam: ASM )
          Jan van Eycklaan 10
          3723 BC Bilthoven, The Netherlands
          Robert L. de Bakker
          Phone: +31 30 2298540; +31-30-229-84-11
          Fax: +31-30-228-74-69
          E-mail: robert.de.bakker@asm.com
          Web site: http://www.asm.com


ICTS INTERNATIONAL: 1st Qtr. Loss Up US$1.7 Mln After Write-down
----------------------------------------------------------------
ICTS International N.V. (NASDAQ: ICTS), on Tuesday reported that
as a result of an adverse decision by the Pennsylvania Supreme
Court reversing a favorable decision of the lower court in a
case involving Pioneer Commercial Funding, a company in which
ICTS has an investment, the Company has decided to restate its
financial statements for the three months ended March 31, 2004.

Pioneer has asked the court for a re-hearing based upon
Pioneer's belief that the court's ruling was based in part on
facts not in evidence.  As a result of the restatement, the
Company has written off its entire investment in Pioneer of
US$1,716,000.  The effect of the restatement on the Statement of
Operations for the first quarter of 2004 is that the "Share in
Losses of Associated Companies" increased from US$5,000 to
US$1,721,000 and the loss for the period increased from
US$7,943,000 to US$9,659,000.

On the balance sheet side the "Investment in Associated
Companies" decreased from US$5,341,000 to US$3,625,000 and the
"Retained Earnings" decreased from US$22,669,000 to
US$20,953,000.

For the six months ended June 30, 2004 revenues were
US$30,696,000 as compared to US$37,553,000 for the similar
period in 2003.  For the six months ended June 30, 2004 the
Company reported a loss of US$12,191,000 as compared to a loss
of US$5,253,000 for the comparable period in 2003.  Of the
reported loss for the six months ended June 30, 2004
approximately US$5,266,000 represents an impairment of goodwill
and US$1,595,000 write down of fixed assets of the Company.

A substantial portion of the Company's revenues for the six
months ended June 30, 2004 were derived from U.S. operations,
primarily through its wholly owned subsidiary, Huntleigh U.S.A.
Corp.

Shareholders equity as of June 30, 2004 was US$33,933,000 and
cash and cash equivalents amounted to US$3,785,000.

About ICTS:

ICTS has interests in a variety of businesses and ventures.  Its
current principal activity consists of providing manpower based
aviation security services in the Netherlands and non-security
related manpower based general aviation services in the U.S.A.
Its other activities consist primarily of the development of
integrated technological solutions designed for enhancing
processing time of passengers at airports and other gateways and
the establishment and operation of motion-based entertainment
theaters in the U.S.A.

                            *   *   *

On Dec. 1, the Nasdaq Stock Market informed ICTS International
of the delisting of the firm's securities because it had not
maintained a market value of publicly held shares of at least
US$5,000,000, in accordance with Marketplace Rule 4450(a)(2).

On Dec. 2, the Company notified the staff of the Nasdaq Stock
Market that it was appealing the staff's determination to a
Listings Qualification Panel.  According to the Rules, the
delisting process will be stayed until the Listings
Qualification Panel makes a decision on the Company's appeal.

CONTACT:  ICTS INTERNATIONAL
          Phone: +31-20-347 1077
          Fax: +31-20-643 2412
          E-mail: mail@ictsinternational.com
          Web site: http://www.icts-tech.com


ISPAT INTERNATIONAL: Merger Receives Anti-trust Clearance
---------------------------------------------------------
Mittal Steel Company N.V. (NYSE and Euronext Amsterdam: MT) has
received early termination of the waiting period under the Hart-
Scott-Rodino Antitrust Improvements Act for the previously
announced merger of International Steel Group Inc. (NYSE: ISG)
with Mittal Steel.

As previously announced, Ispat International completed its
acquisition of LNM Holdings N.V. on Dec. 17 and changed its name
to Mittal Steel Company N.V. and its ticker symbol from "IST" to
"MT".

The merger of ISG with Mittal Steel is subject to approval by
the shareholders of ISG and Mittal Steel and satisfaction of
other customary closing conditions.  The transaction is expected
to be completed by the end of the first quarter of 2005.

About Mittal Steel Company N.V.

Mittal Steel is the world's most global steel producer with
steel-making operations in fourteen countries on four
continents.  Mittal Steel encompasses all aspects of modern
steelmaking to produce a comprehensive portfolio of both flat
and long steel products to meet a wide range of customer needs.
It serves all the major steel consuming sectors, including the
automotive, appliance, machinery and construction sectors.
Mittal Steel is listed on the NYSE and Euronext Amsterdam (MT).


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


BUILDER: Deadline for Proofs of Claim Expires January
-----------------------------------------------------
The Arbitration Court of Tyumen region has commenced bankruptcy
proceedings against Builder after finding the close joint stock
company insolvent.  The case is docketed as A70-5953/3-04.  Mr.
V. Pautov has been appointed insolvency manager.

Creditors have until Jan. 26, 2005 to submit their proofs of
claim to:

(a) Insolvency Manager
    627016, Russia, Tyumen region,
    Yalutorovsk, Post User Box 14

(b) The Arbitration Court of Tyumen Region
    625000, Russia, Tyumen, Khokhryakova Str. 77

(c) Builder
    627030, Russia, Tyumen region,
    Yalutorovsk, Voroshilova Str. 43


CHERNOBORSKIY: Hires I. Bulatov as Insolvency Manager
-----------------------------------------------------
The Arbitration Court of Chelyabinsk region has commenced
bankruptcy proceedings against Chernoborskiy after finding the
open joint stock company insolvent.  The case is docketed as A-
76-21590/03-48-484.  Mr. I. Bulatov has been appointed
insolvency manager.  Creditors have until Jan. 26, 2005 to
submit their proofs of claim to 457227, Russia, Chelyabinsk
region, Chesmenskiy region, Chernoborskiy.

CONTACT:  CHERNOBORSKIY
          457227, Russia, Chelyabinsk region,
          Chesmenskiy region, Chernoborskiy

          Mr. I. Bulatov
          Insolvency Manager
          457227, Russia, Chelyabinsk region,
          Chesmenskiy region, Chernoborskiy


FERRO EXPORT: Chelyabinsk Court Opens Bankruptcy Proceedings
------------------------------------------------------------
The Arbitration Court of Chelyabinsk region has commenced
bankruptcy proceedings against close joint stock company Ferro
Export after finding the close joint stock company insolvent.
The case is docketed as A-76-23020/04-60-16.  Mr. V. Suvorov has
been appointed insolvency manager.  Creditors have until Dec.
26, 2004 to submit their proofs of claim to 454091, Russia,
Chelyabinsk, Sverdlovskiy Pr. 57.

CONTACT:  FERRO EXPORT
          454091, Russia, Chelyabinsk,
          Sverdlovskiy Pr. 57

          Mr. V. Suvorov
          Insolvency Manager
          454091, Russia, Chelyabinsk,
          Sverdlovskiy Pr. 57
          Phone/Fax: (3512) 64-34-27


KETOVO-AGRO-TEKH-CENTRE: Sets Deadline for Proofs of Claim
----------------------------------------------------------
The Arbitration Court of Kurgan region has commenced bankruptcy
proceedings against Ketovo-Agro-Tekh-Centre (TIN 4510004169)
after finding the open joint stock company insolvent.  The case
is docketed as A34-3052/04-S26.  Ms. T. Ustyuzhanina has been
appointed insolvency manager.  Creditors have until Jan. 26,
2005 to submit their proofs of claim to 640000, Russia, Kurgan,
K. Myagotina Str. 117-21.

CONTACT:  KETOVO-AGRO-TEKH-CENTRE:
          Russia, Kurgan region, Ketovskiy region,
          Ketovo, Borovaya Str. 2

          Ms. T. Ustyuzhanina
          Insolvency Manager
          640000, Russia, Kurgan,
          K. Myagotina Str. 117-21


NABEREZHANSKIY: Bankruptcy Hearing Resumes April Next Year
----------------------------------------------------------
The Arbitration Court of Lipetsk region has commenced bankruptcy
supervision procedure on agricultural production cooperative
Naberezhanskiy.  The case is docketed as A36-67-B/9-04.  Mr. A.
Baturkin has been appointed temporary insolvency manager.

Creditors have until Dec. 26, 2004 to submit their proofs of
claim to:

(a) Naberezhanskiy
    399570, Russia, Lipetsk region,
    Volovskiy region, Naberezhnoye

(b) Temporary Insolvency Manager
    399242, Russia, Lipetsk region,
    Zadonskiy region, Khmelinets

(c) The Arbitration Court of Lipetsk Region
    399019, Russia, Lipetsk, Skorokhodova Str. 2

A hearing will take place on April 14, 2005, 9:20 a.m.


SAN: Gives Creditors Until January to File Claims
-------------------------------------------------
The Arbitration Court of Chelyabinsk region has commenced
bankruptcy proceedings against San (TIN 7446009645) after
finding the close joint stock company insolvent.  The case is
docketed as A76-3557/04-52-10.  Mr. R. Akhmetov has been
appointed insolvency manager.  Creditors have until Jan. 26,
2005 to submit their proofs of claim to 455051, Russia,
Chelyabinsk region, Magnitogorsk, Post User Box 126.

CONTACT:  SAN
          Russia, Chelyabinsk region,
          Magnitogorsk, Suvorova Str. 125/1

          Mr. R. Akhmetov
          Insolvency Manager
          455051, Russia, Chelyabinsk region,
          Magnitogorsk, Post User Box 126


SULENSKIY ELEVATOR: Declared Insolvent
--------------------------------------
The Arbitration Court of Chelyabinsk region has commenced
bankruptcy proceedings against Sulenskiy Elevator after finding
the company insolvent.  The case is docketed as A76-16994/02-36-
272.  Mr. I. Yakovlev has been appointed insolvency manager.
Creditors have until Jan. 26, 2005 to submit their proofs of
claim to 454080, Russia, Chelyabinsk, Lenina Pr. 83, Office 305.

CONTACT:  SULENSKIY ELEVATOR
          Russia, Chelyabinsk region,
          Suleya, Elevatornaya Str. 3

          Mr. I. Yakovlev
          Insolvency Manager
          454080, Russia, Chelyabinsk,
          Lenina Pr. 83, Office 305


TALOVSKIY: Cheese maker Succumbs to Insolvency
----------------------------------------------
The Arbitration Court of Voronezh region has commenced
bankruptcy proceedings against Talovskiy after finding the
cheese manufacturer insolvent.  The case is docketed as A14-
7003-04/54/20b.  Mr. A. Nyrkov has been appointed insolvency
manager.  Creditors have until Jan. 26, 2005 to submit their
proofs of claim to 397480, Russia, Voronezh region, Talovaya,
Chapaeva Str. 63.

CONTACT:  TALOVSKIY
          397480, Russia, Voronezh region,
          Talovaya, Chapaeva Str. 63

          Mr. A. Nyrkov
          Insolvency Manager
          397480, Russia, Voronezh region,
          Talovaya, Chapaeva Str. 63


ZAP-SIB-STROY-DESIGN: Tyumen Court Appoints Insolvency Manager
--------------------------------------------------------------
The Arbitration Court of Tyumen region has commenced bankruptcy
proceedings against Zap-Sib-Stroy-Design after finding the close
joint stock company insolvent.  The case is docketed as A-70-
7265/3-2004.  Mr. V. Alekseev has been appointed insolvency
manager.

Creditors have until Jan. 26, 2005 to submit their proofs of
claim to:

(a) Insolvency Manager
    625019, Russia, Tyumen, Respubliki Str. 204a

(b) The Arbitration Court of Tyumen Region
    625000, Russia, Tyumen, Khokhryakova Str. 77

A hearing will take place on Jan. 25, 2005, 9:00 a.m.


ZARYA: Creditors Have Until this Sunday to File Claims
------------------------------------------------------
The Arbitration Court of Sverdlovsk region has commenced
bankruptcy supervision procedure on limited liability company
Zarya.  The case is docketed as A60-13097/04-S4.  Ms. S.
Romanenko has been appointed temporary insolvency manager.
Creditors have until Dec. 26, 2004 to submit their proofs of
claim to 620089, Russia, Ekaterinburg, Post User Box 140.

CONTACT:  ZARYA
          624600, Russia, Sverdlovsk region,
          Alapaevskiy region, Zarya, Lenina Str. 26

          Ms. S. Romanenko
          Temporary Insolvency Manager
          620089, Russia, Ekaterinburg,
          Post User Box 140


===============
S L O V E N I A
===============


BANKA CELJE: 'C' Individual Rating Affirmed; Outlook Stable
-----------------------------------------------------------
Fitch Ratings affirmed Banka Celje's ratings at Long-term 'BBB',
Short-term 'F3', Individual 'C' and Support '3'.  The Outlook
for the Long-term rating is Stable.

These ratings reflect the low level of both credit and market
risk BC faces, in addition to good liquidity and sound
capitalization.  Profitability, whilst still decent, is likely
to come under increasing pressure from lower nominal interest
rates and rising competition.

Banka Celje is the fifth largest bank in Slovenia, with 6.4% of
total system assets.  It is based in the city of Celje, where it
holds a strong market share of 70%.

CONTACT:  FITCH RATINGS
          Tim Beck, London
          Phone: +44 (0) 20 7417 3460

          Rosalie Pinkney, Barcelona
          Phone: +34 93 323 9044

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327

          Banka Celje d.d.
          Vodnikova 2
          3000 Celje, Slovenia
          Phone: ++386 3 422 10 00
          Fax: ++386 3 422 11 00
          E-mail: info@banka-celje.si
          Web site: http://www.banka-celje.si


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


BANCOVAL: Fitch Gives All Ratings Stable Outlook
------------------------------------------------
Fitch Ratings affirmed Bancoval's ratings at Long-term 'AA',
Short-term 'F1+', Individual 'B/C' and Support '1'.  The rating
Outlook is Stable.

Bancoval's Support, Long-term and Short-term ratings are based
on institutional support from Dexia Banque Internationale a
Luxembourg (DBIL; which owns a 50.85% stake in Bancoval).  Its
Individual rating reflects its small size but strong franchise
in its business niche and generally low risk exposure, though
concentration risk has risen.

Bancoval is the parent of a small, specialized Spanish banking
group which focuses on providing securities custody, settlement
and clearing operations to banks, fund managers, Spanish
broker/dealers and institutional clients.  Its specialization in
the securities business and the backing from DBIL have allowed
it to develop value added services and attract domestic and
international institutional clients, although the large
operating volumes of these clients has increased Bancoval's risk
profile through risk concentration.  However, counterparties are
carefully selected, relate to creditworthy institutions and are
subject to concentration limits set by Dexia internationally.
Credit losses have been small and loans are made under legally
binding credit agreements and collateralized by cash or
securities.

While Bancoval is exposed to credit, market and legal risks, it
is mainly at risk of loss from operational errors, which have
historically been low.  While a small bank, Bancoval has
relatively sophisticated and tested IT and control systems.  Its
customer approval and limit setting systems have provided a
sound framework for limiting operational and credit risks.
Dexia's risk control systems are progressively being
incorporated and it should benefit from the operational risk
control systems being deployed across the group.

Revenues are mainly derived from commissions from equities
clearing, settlement and custodial services, which are highly
dependent on transaction volumes and the value of assets under
management.  While declining, Fitch considers profitability
adequate in the context of depressed markets.

Given the short-term nature of the bank's balance sheet,
liquidity is good.  Its total and Tier 1 EU capital/weighted
risks ratio at end-June 2004 was 17.8%.  While an appropriate
capital level is difficult to assess given that there is no
operational risk capital charge, it has the backing of DBIL.

The credit research on Bancoval is available on Fitch's
subscription Web site http://www.fitchresearch.comor by
contacting our Ratings Desk in London on Phone: +44 20 7417
6300.

CONTACT:  FITCH RATINGS
          Carmen Munoz
          Roger Turro, Barcelona
          Phone: +34 93 323 8400

          Media Relations:
          Campbell McIlroy, London
          Phone: +44 20 7417 4327

          BANCOVAL
          Sede Social:
          c/ Fernando el Santo, 20
          28010 Madrid
          Phone: 91 3609900
          Fax: 91 3609901

          Oficina:
          Avda. Diagonal, 512
          08006 Barcelona
          Phone: 93 4151756
          Fax: 93 4151645
          Web site: http://www.bancoval.es


IZAR: Redundancy Plan to Cost SEPI EUR1.3 Billion
-------------------------------------------------
Sociedad Estatal De Participaciones Industriales (SEPI) will
have to spend around EUR1.3 billion to finance Izar's mandatory
retirement program, El Pais says.  SEPI plans to implement an
early retirement scheme involving 4,100 employees aged 52 and
up.  Those affected would receive 76% of gross SEPI wage from
the time they retire until they reach 65.

SEPI recently struck a deal with trade unions regarding the
shipbuilder's restructuring plan.  Trade unions USGT, UGT and
CCOO finally gave in after SEPI presented the early retirement
scheme.  SEPI has been persuading the unions to approve its
restructuring plan that will separate its military and civilian
divisions.  According to the plan, SEPI will retain ownership of
the new Izar, which will consist of the military division.

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
=============


GIGANT: Gives Creditors Until Friday to File Claims
---------------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Gigant (code EDRPOU 30804564) on October 28,
2004 after finding the limited liability company insolvent.  The
case is docketed as 5/477-04.  Department of Pension Fund of
Ukraine in Bar District has been appointed Liquidator/Insolvency
Manager.  The company holds account number 29022400 at JSC
Ukrinbank, Vinnitsya branch, MFO 302333.

Creditors have until December 24, 2004 to submit their proofs of
claim to:

(a) GIGANT
    23025, Ukraine, Vinnitsya region,
    Barskij district, Zhuravlivka

(b) Liquidator/Insolvency Manager
    23000, Ukraine, Vinnitsya region,
    Bar, Pamyati Square, 17

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


LIPOVETS' MACHINE: Liquidator Enters Firm
-----------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Lipovets' Machine-Technological Station
(code EDRPOU 30067331) after finding the limited liability
company insolvent.  The case is docketed as 5/375-04.  Arbitral
manager Mr. Sergij Malahov (License Number AA 250370) has been
appointed liquidator/insolvency manager.

Creditors have until December 24, 2004 to submit their proofs of
claim to:

(a) Lipovets' Machine-Technological Station
    22500, Ukraine, Vinnitsya region,
    Lipovets, Chapayev Str. 16

(b) Mr. Sergij Malahov
    Liquidator/Insolvency Manager
    Ukraine, Vinnitsya region,
    Keletska Str. 126/137


SMAK: Under Sanction Proceedings Until May Next Year
----------------------------------------------------
The Economic Court of Donetsk region sanctioned Smak (code
EDRPOU 19377285) for six months until May 4, 2005.  The case is
docketed as 42/87 B.  Arbitral manager Mrs. Nadiya Druk (License
Number 779323) has been appointed Sanction Manager.

CONTACT:  SMAK
          Ukraine, Donetsk region,
          Kramatorsk, Lenin Str. 58

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


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


24 HR: Director Accepts Disqualification Order
----------------------------------------------
The director of a plumbing business that failed with total debts
estimated at around GBP303,000 has given an Undertaking not to
hold directorships or take any part in company management for
four years.

The Undertaking by Stephen John Bowden, 44, of Newing Green,
Bromley, Kent, was given in respect of his conduct as a director
of 24 HR All Trade Services Limited, which carried out business
from premises at 79/80 High Street, Gravesend, Kent, DA11 0BH.

Acceptance of the Undertaking on November 11, 2004 prevents
Stephen John Bowden from being a director of a company or, in
any way, whether directly or indirectly, being concerned or
taking part in the promotion, formation or management of a
company for the above period.  24 HR All Trade Services Limited
was placed into voluntary liquidation on December 6, 2002 with
estimated debts of GBP303,000 owed to creditors.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section (6) of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by Stephen John Bowden,
were that:

(a) He failed to ensure that 24 HR All Trade Services Limited
    maintained adequate accounting records and failed to deliver
    such accounting records to the liquidator;

(b) He failed to submit any returns to HM Customs & Excise for
    the duration of 24 HR's Trading;

(c) He failed to pay 24HR's creditors debts due between July
    2002 and the date of liquidation; and

(d) he allowed 24 HR's debts to increase even though the company
    had no realistic prospect of paying them back.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


ACCLAIM PARCELS: Members Opt for Liquidation
--------------------------------------------
At the extraordinary general meeting of Acclaim Parcels Express
(Hull) Limited on Dec. 9, 2004 held at Maclaren House, Skerne
Road, Driffield, East Yorkshire, the extraordinary and ordinary
resolutions to wind up the company were passed.  Andrew James
Nichols of Redman Nichols has been appointed liquidator of the
company.


ALCHEMY ENTERTAINMENT: Hires Liquidator from Berley
---------------------------------------------------
At the extraordinary general meeting of Alchemy Entertainment
Limited on Dec. 9, 2004 held at 76 New Cavendish Street, London
W1G 9TB, the subjoined extraordinary resolution to wind up the
company was passed.  Jeremy Berman of Berley, 76 New Cavendish
Street, London W1G 9TB has been appointed liquidator of the
company.

CONTACT:  BERLEY
          76 New Cavendish Street,
          London W1G 9TB


ALUMINIUM OF SIBERIA: Final Meeting of Members Set
--------------------------------------------------
The final meeting of Aluminium Of Siberia (UK) Limited will be
on Jan. 21, 2005 commencing at 10:05 a.m.  It will be held at
Deloitte & Touche, 66 Shoe Lane, London EC4A 3WA.

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:  DELOITTE & TOUCHE LLP
          Athene Place
          66 Shoe Lane, London EC4A 3BQ
          Phone: 00 44 (0) 207 936 3000
          Fax: 00 44 (0) 207 779 4001
          Web site: http://www.deloitte.com


AMVESCAP LOAN: Liquidator to Give Final Update Next Month
---------------------------------------------------------
The final general meeting of Amvescap Loan Notes Limited will be
on Jan. 20, 2005 commencing at 10:00 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


ANDERSON TOWERS: Sets Members Final Meeting January 18
------------------------------------------------------
The final meeting of the members of Anderson Towers (Holdings)
Limited will be on Jan. 18, 2005 commencing at 10:30 a.m.  It
will be held at Wilson Pitts, Glendevon House, Hawthorn Park,
Coal Road, Leeds LS14 1PQ.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.  Proxy forms must be lodged
with Wilson Pitts, Glendevon House, Hawthorn Park, Coal Road,
Leeds LS14 1PQ not later than 12:00 noon, Jan. 17, 2005.

CONTACT:  WILSON PITTS
          Glendevon House, Hawthorn Park,
          Coal Road, Leeds LS14 1PQ
          Phone: 0113-2375560
          Fax:   0113-2375561
          Web site: http://www.wilson-pitts.co.uk


AORTECH INTERNATIONAL: Narrows Group Operating Loss
---------------------------------------------------
AorTech International plc, the biomaterials intellectual
property and material manufacturing company, announces its
interim results for the six months ended 30 September 2004.

Operational Highlights:

(a) Significant interest in Breast Implant technology,

(b) Dialogue commenced with potential licensees,

(c) Positive FDA meeting to discuss Beast Implant Testing
    Protocol,

(d) Progress with polymer heart valves

Financial Highlights:

(a) Turnover on Continuing Operations GBP38,101 (2003:
    GBP212,414),

(b) Group operating loss GBP947,786 (2003: GBP1,111,200),

(c) Loss Before Taxation GBP838,262 (2003: GBP1,018,285),

(d) Net cash of GBP5,030,227 (2003: GBP6,199,292),

Commenting on the progress of the Company, Laurie Rostron, Non-
Executive Chairman said: "The interest in AorTech's breast
implant technology has given the Board confidence to progress
the development of the technology and to commence discussions
with potential licensing partners.

"AorTech, as an early stage biomaterials company, now has a
pipeline of applications, supported by strong intellectual
property, which we are confident will create shareholder value
in the medium term."

                     Chairman's Statement

Results

For the six months ended 30th September 2004, the Company had a
turnover of GBP38,101, operating costs of GBP976,958, down from
GBP1,181,960 for the same period in the previous year, and a
loss before taxation of GBP838,262 again down from GBP1,018,285
in the previous year.  The cash position at GBP5,030,227
compares with GBP6,199,292 at the same time last year.

These financial results reflect the early stage nature of the
business but do not describe the significant progress that has
been achieved during the period.

Breast Implants

Without doubt the progress on the development of the Elast-Eon
breast implant has overshadowed all other activities to a point
where it has become central to the future development strategy
of the Company.  As is often the case with early stage
development companies, the change of strategy has been somewhat
opportunistic and has accelerated as a consequence of the
development of an alternative fill material for which new
intellectual property has now been filed.

It is the Directors' view that there is a significant latent
demand from patients, surgeons and regulatory authorities for an
alternative to the all silicone breast implant.

In October we met, at our instigation, with the U.S. Federal
Drug Administration to discuss the baseline test results of
Elast-Eon technology in accordance with the FDA "Guidance for
Breast Implants", a set of guidelines established to set the
ground rules for the development of new breast implants.  This
meeting was positive, we received useful feedback on the caliber
of our material testing data and afterwards the Board approved
the proposal to move ahead with the development of the next
generation of the breast implant device.  Manufacturing
processes are currently being defined and prototype devices have
been produced.  The Directors believe that an Elast-Eon breast
implant will be significantly more reliable and safer than the
existing saline or silicone filled implants.

The technology has attracted the attention of the American
Society of Aesthetic and Plastic Surgeons and the Company has
received an invitation to present a paper on its next-generation
breast implant at the upcoming Annual Society meeting in New
Orleans in April 2005.

The Company is currently in discussion with large potential
industry partners, a number of whom have expressed significant
interest although it is too early to finalize a license
agreement.

This remains a high-risk project but the evidence is emerging
that it could also have a high potential reward.

Heart Valves

AorTech's intellectual property position continued to improve
when in October 2004, the European Patent Office granted patent
1006949B, which is part of the Company's portfolio of polymer
heart valve technology and includes surgical as well as
percutaneous designs.  In October 2004 the company received a
positive opinion from the European Patent Office regarding the
patentability of the claims made in the M 95 C patent
application.

During the past year, there has been significant industry
investment in percutaneous heart valves for which the Company's
M 95 C technology and intellectual property offers several
advantages over existing technology.

It is the Board's view that these events indicate that AorTech
technology and intellectual property which is now of
considerably more value than originally forecast.  However, to
date the Company has been unable to find a partner for this
project.

The Board believes that it is not in the shareholders interest
to license this technology cheaply.  Although this will take
longer, the plan is to carry out further bench testing and pre-
clinical trials in a manner that will support an FDA
Investigational Device Exemption before the commencement of a
full clinical trial on the valve.  The Company will continue to
seek a partner for this development project where the full value
of the technology has a chance of being realized.

Licensing and Supply

The material licensing and supply activities, the now rather
more routine part of the business, continue to make progress.
The content of the FDA Master File has been increased and the
first clinical use of Elast-Eon in a royalty bearing application
is expected to occur in 2005.

There are currently 5 active orthopaedic and 8 other long-term
material applications under active evaluation with a partner.
Whilst some of these appear tantalizingly close to completion,
experience has shown that these business development cycles are
by their nature, lengthy.

Board Changes

We announced at the end of October that Ian Cameron was stepping
down from his position as Finance Director but would remain as a
Non Executive Director and Company Secretary in the short term.
Ian retired from the board with effect from 20th December 2004
to concentrate on his role as Finance Director at i-mate plc.  I
would like to thank Ian for his considerable contribution to the
Company over the past 6 years and we wish him well in his new
role.

David Parsons, MA, ACIS has joined us as Company Secretary and
Chief Financial Officer and I am delighted to welcome him to the
team.

Summary

The Company' strategy is to develop the material license and
supply component of the business to a point where the Company is
profitable and then to increase shareholder value by identifying
and developing selected devices through to the point of clinical
trials.  The Board believes that these selected device step outs
from the material licensing have the potential to generate
significant up-front, milestone and royalty income through
partnerships with large medical device companies.  The Elast-Eon
breast implant is a prime example of the type of step outs that
the Company is seeking and, although not with out risk, the
Board is keen to maximize the Company's efforts to achieve this
goal with this product.

Laurie Rostron

A full copy of the financial results is available free of charge
at: http://bankrupt.com/misc/results.htm.

CONTACT:  AORTECH INTERNATIONAL PLC
          Strathclyde Business Park,
          Bellshill, Lanarkshire,
          ML4 3NJ, Scotland, U.K.
          Phone: +44 (0)1698 746699
          Fax: +44 (0)1698 748474
          E-mail: info@aortech.com
          Web site: http://www.aortech.com
          Ben Willey
          Lisa Baderoon
          Rebecca Skye Dietrich

          Laurie Rostron, Non-Executive Chairman
          Phone: 01698 746699 (thereafter)

          BUCHANAN COMMUNICATIONS
          Frank Maguire, Chief Executive
          Phone: 020 7466 5000


BLUE APPLE: Calls in Liquidator from A. Segal & Co
--------------------------------------------------
At the extraordinary general meeting of Blue Apple Marketing
Limited on Dec. 15, 2004 held at Albert Chambers, 221-223
Chingford Mount Road, London E4 8LP, the subjoined extraordinary
resolution to wind up the company was passed.  Richard Andrew
Segal of A. Segal & Co, Albert Chambers, 221-223 Chingford Mount
Road, London E4 8LP has been appointed liquidator of the
company.

CONTACT:  A. SEGAL & CO.
          Albert Chambers, 221-223 Chingford Mount Road
          London E4 8LP


CABLE & WIRELESS: Grant Thornton Liquidator Enters Firm
-------------------------------------------------------
At the meeting of the Cable & Wireless ISP Holdings Limited, the
special resolution to wind up the company was passed.  Andrew
Conquest of Grant Thornton UK LLP, Grant Thornton House, Melton
Street, Euston Square, London NW1 2EP has been appointed
liquidator of the company.

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


CDE SOLUTIONS: Calls in Liquidator from UHY Hacker Young
--------------------------------------------------------
At the extraordinary general meeting of CDE Solutions Limited on
Dec. 9, 2004 held at St Alphage House, 2 Fore Street, London
EC2Y 5DH, the extraordinary and ordinary resolutions to wind up
the company were passed.  R. E. C. Cook of the firm of UHY
Hacker Young, St James Building, 79 Oxford Street, Manchester M1
6HT has been appointed liquidator of the company.

CONTACT:  UHY HACKER YOUNG
          St James Building,
          79 Oxford Street, Manchester M1 6HT
          Phone: 0161 236 6936
          Fax:   0161 228 0117
          E-mail: manchester@uhy-uk.com
          Web site: http://www.uhy-uk.com


C E J CONSTRUCTION: Names Royce Peeling Green Liquidator
--------------------------------------------------------
At the extraordinary general meeting of C E J Construction
Limited on Dec. 14, 2004 held at the offices of Royce Peeling
Green, The Copper Room, Deva Centre, Trinity Way, Manchester M3
7BG, the extraordinary and ordinary resolutions to wind up the
company were passed.  Peter Jones and Roderick Michael
Withinshaw of Royce Peeling Green, The Copper Room, Deva Centre,
Trinity Way, Manchester M3 7BG have been appointed joint
liquidators of the company.

CONTACT:  ROYCE PEELING GREEN
          The Copper Room
          Deva Center, Trinity Way,
          Manchester M3 7BG
          Phone: 0161 6080000
          Fax:   0161 608 0001
          E-mail: info@rpg.co.uk
          Web site: http://www.rpg.co.uk


CODEHAMMER ONLINE: Owners Decide to Dissolve Company
----------------------------------------------------
At the extraordinary general meeting of Codehammer Online
Productions Limited on Dec. 9, 2004 held at 13 Great Marlborough
Street, London W1F 7LP, the special and ordinary resolutions to
wind up the company were passed.  Peter Mark Saville and Neil
Hunter Cooper of Kroll, 10 Fleet Place, London EC4M 7RB have
been appointed joint liquidators of the company.

CONTACT:  KROLL LIMITED
          10 Fleet Place, London EC4M 7RB


COMMUNICATION INTELLIGENCE: Names Liquidator
--------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

IN THE MATTER OF Communication Intelligence Limited

Notice is hereby given that I, Keith V. Anderson of Scott &
Paterson, Chartered Accountants, Bruntsfield House, 6
Bruntsfield Terrace, Edinburgh EH10 4EX, was appointed
liquidator of Communication Intelligence Limited on December 9,
2004.

Keith V Anderson, Liquidator
December 9, 2004.

CONTACT:  SCOTT & PATERSON
          Conference House
          152 Morrison Street
          The Exchange
          Edinburgh EH3 8EB
          Phone: 0131 248 2638
          Fax: 0131 248 2608
          E-mail: mail@scottandpaterson.co.uk
          Web site: http://www.scottandpaterson.co.uk


CRA (ST ALBANS): Hires Liquidator from Maidment Judd
----------------------------------------------------
At the extraordinary general meeting of CRA (St Albans) Limited
on Dec. 9, 2004 held at 60-62 High Street, Harpenden,
Hertfordshire AL5 2SP, the extraordinary resolution to wind up
the company was passed.  Anthony David Kent of Maidment Judd,
60-62 High Street, Harpenden, Hertfordshire AL5 2SP has been
appointed liquidator of the company.

CONTACT:  MAIDMENT JUDD
          60-62 High Street, Harpenden,
          Hertfordshire AL5 2SP
          Toll Free No: 0800 068 7154
          Phone: +44 (0) 1582 469 700
          Fax:   +44 (0) 1582 460 674
          Web site: http://www.maidmentjudd.com


CRUNCHWELL LIMITED: Liquidator's Final Report Out January
---------------------------------------------------------
The final meeting of the members of Crunchwell Limited will be
on Jan. 31, 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.  Members who want to be represented at
the meeting may appoint proxies.  Proxy forms must be lodged
with Critchleys, Greyfriars Court, Paradise Square, Oxford OX1
1BE not later than 12:00 noon, Jan. 28, 2005.

CONTACT:  CRITCHLEYS
          Greyfriars Court,
          Paradise Square, Oxford OX1 1BE
          Phone: +44 (0) 1865 261100
          Fax:   +44 (0) 1865 261201
          E-mail: Oxford@critchleys.co.uk
          Web site: http://www.critchleys.co.uk


DAVID AARON: Defaults on Claims; FSCS Assumes Obligation
--------------------------------------------------------
The Financial Services Compensation Scheme (FSCS) has declared
the David Aaron Partnership and David M. Aaron (Personal
Financial Planners) Limited in default, paving the way for
consumers to receive compensation from the Scheme.  Both of
these firms traded, at different times, as The David Aaron
Partnership.

"This is a large, complex default and we recognize that
investors have been worried about what is happening," says
Loretta Minghella, Chief Executive.

"However, we can now consider claims against both firms, so
there is light at the end of the tunnel."

The declaration of default is the final part of a process
whereby FSCS determines that a financial services firm is, in
its opinion, unable (or likely to be unable) to pay claims for
compensation against it.

FSCS wrote on December 16 to all known claimants of The David
Aaron Partnership to explain to them how to make a claim for
compensation. Any consumers who believe they may have a claim,
but have not received a letter by the New Year, should contact
FSCS on 0207 892 7300, e-mail enquiries@fscs.org.uk or log-on to
http://www.fscs.org.uk.

"FSCS' role is to provide a fund of last resort for customers of
financial services firms.  We can step in to help consumers when
a firm has claims against it, but is unable to pay, as is the
case here," says Ms. Minghella.

"Because of the large number of potential claims against these
firms, the processing will take some time to complete.  However,
this announcement should come as a relief to those who, without
FSCS, would be left with nowhere to turn.  Our message to
investors is that, whilst there is still some way to go, we are
making progress."

There are around 2,000 claims against the David Aaron
Partnership, which could take up to nine months to complete.
Claims will be processed in order of receipt.  Investors facing
immediate hardship will be prioritized.

FSCS is the U.K.'s single statutory compensation scheme covering
investments, deposits, insurance and, from October 31, 2004,
mortgage advice and arranging.  It provides a fund of last
resort for consumers who have claims against regulated firms
that are unable to pay them.  The limit for investment
compensation is GBP48,000.

The U.K.'s independent financial watchdog, the Financial
Services Authority (FSA), regulates financial services firms.

CONTACT:  FINANCIAL SERVICES COMPENSATION SCHEME
          7th Floor Lloyds Chambers
          1 Portsoken Street
          London E1 8BN
          E-mail enquiries@fscs.org.uk
          Web site: http://www.fscs.org.uk

          Phone: +44 (0) 20 7892 7300
          Fax: + 44 (0) 20 7892 7301
          Web site: http://www.fscs.org.uk

          Suzette Browne
          Phone: 020 7892 7372
          E-mail: Suzette.Browne@fscs.org.uk

          Heather Tilston
          Phone: 020 7892 7370
          E-mail: H.Tilston@fscs.org.uk


DIRECT RESOURCES: Hires Liquidator from Begbies Traynor
-------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

IN THE MATTER OF Direct Resources Scotland Ltd.

Notice is hereby given that I, Scott McGregor of Begbies Traynor
(Scotland) LLP, 4th Floor, 78 St. Vincent Street, Glasgow G2
5UB, was appointed liquidator of Direct Resources Scotland Ltd.
on December 2, 2004.

Scott McGregor, Liquidator
December 2, 2004

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


DUNCOPPIN ESTATES: Liquidator to Submit Final Report January
------------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

           IN THE MATTER OF Duncoppin Estates Limited
                         (In Liquidation)

Notice is hereby given, pursuant to section 106 of the
Insolvency Act 1986, that a Final Meeting of the Members of
Duncoppin Estates Limited will be held at Sherwood House, 7
Glasgow Road, Paisley PA1 3QS, on January 27, 2005, at 2:00 p.m.
to be followed at 2:15 p.m. by a Final Meeting of Creditors, for
the purpose of having an account laid before them by the
Liquidator showing the manner in which the winding-up has been
conducted and the property of the Company disposed of, and of
hearing any explanation that may be given by the Liquidator, and
also of determining the manner in which the books, accounts and
documents of the Company and of the Liquidator shall be disposed
of and for the Liquidator to seek sanction for his release from
office.

A Resolution at the Meeting will be passed if a majority of
those voting have voted in favor of it.

A Member or Creditor will be entitled to attend and vote at the
Meeting only if a claim has been lodged with me at or before the
Meeting and it has been accepted for voting purposes in whole or
in part.  Proxies may also be lodged with me at the Meeting or
before the Meeting at my office.

David K. Hunter, Liquidator
December 8, 2004.

CONTACT:  CAMPBELL DALLAS
          Sherwood House
          7 Glasgow Road
          Paisley PA1 3QS
          Phone: 0141 887 4141
          Fax: 0141 887 1103
          E-mail: psly@camdal.com
          Web site: http://www.camdal.com


FAMILY SUPPORT: Creditors Meeting Set January 10
------------------------------------------------
Name of companies:
Family Support Services (NW) Limited
Family Support Services UK Limited
Family Support Services (Yorkshire) Limited

The creditors of these companies will meet on Jan. 10, 2005
commencing at 11:00 a.m.  It will be held at Crowne Plaza,
Wellington Street, Leeds LS1 4DL.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to PricewaterhouseCoopers LLP, Benson House, 33
Wellington Street, Leeds LS1 4JP not later than 12:00 noon, Jan.
7, 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


HARWOOD BATALLI: Special, Ordinary Winding up Resolutions Passed
----------------------------------------------------------------
At the extraordinary general meeting of the members of Harwood
Batalli Limited on Dec. 13, 2004 held at 36 Duckett Road, London
N4 1BN, the special and ordinary resolutions to wind up the
company were passed.  Laurence G. Factor of Newman & Partners
Insolvency & Recovery Services Limited, Lynwood House, 373-375
Station Road, Harrow, Middlesex HA1 2AW has been appointed
liquidator of the company.

CONTACT:  NEWMAN & PARTNERS INSOLVENCY &
          RECOVERY SERVICES LIMITED
          Lynwood House, 373-375 Station Road,
          Harrow, Middlesex HA1 2AW


HEATH INSURANCE: Hires Liquidator from Tomlinsons
-------------------------------------------------
At the extraordinary general meeting of Heath Insurance &
Investment Consultants Limited on Dec. 10, 2004 held at 1 Canute
Place, Knutsford, Cheshire WA16 6BQ, 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 of the company.

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


IBMS LIMITED: Insolvency Service Bans Three Ex-directors
--------------------------------------------------------
Three directors of a West Sussex Interior and Environmental
Specialists business that failed with total debts of around
GBP300,000 have given Undertakings not to hold directorships or
take any part in company management.

The Undertakings by Robert Spencer Marsh, 62, and Dorothy Marsh,
61, both of Crawford Gardens, Horsham, West Sussex and Warren
Marsh, 31, of Weller Cottages, Faygate Lane, Faygate, were given
in respect of their conduct as directors of IBMS Limited, which
carried out business from premises at Signcomp House, Blatchford
Road, Horsham, West Sussex RH13 5QR.

Acceptance of the Undertakings on the December 1, 2004 prevents
Mr. R. Marsh, Ms. Marsh and Mr. W Marsh from being a directors
of a company or, in any way, whether directly or indirectly,
being concerned or taking part in the promotion, formation or
management of a company for four years, two years and two years
and six months respectively.  IBMS was placed into voluntary
liquidation on January 29, 2001 with estimated deficiency of
GBP309,325 owed to creditors.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section (6) of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by Mr. R Marsh and Mr. W
Marsh were that:

(a) They caused or allowed 'IBMS' to fail to maintain and/or
    keep adequate accounting records;

(b) they caused or allowed IBMS to trade to the detriment of
    creditors when they knew or ought to have known that IBMS
    was insolvent in that it could not pay its debts; and

(c) they failed to ensure that IBMS complied with its statutory
    obligations, particularly by failing to submit VAT returns
    for the periods October 1999, January 2000 and July 2000.  ]
    No payments were made for VAT in respect of January 2000 and
    July 2000 and IBMS also failed to comply with its
    obligations in respect of PAYE and NIC by failing to submit
    returns and make payments as and when due.

The matter of unfit conduct, not disputed by Ms. Marsh, was that
she neglected her duties as a director of IBMS by allowing the
conducts above to take place.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


I.G CAMILLERI: Liquidator Takes over Helm
-----------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

    IN THE MATTER OF I.G Camilleri (Plastic Surgery) Limited

Notice is hereby given that I, Henry R. Paton of Milne Craig &
Corson, Abercorn House, 79 Renfrew Road, Paisley PA3 4DA, was
appointed liquidator of I.G Camilleri (Plastic Surgery) Limited
on December 9, 2004.

Henry R. Paton, Liquidator
December 9, 2004

CONTACT:  MILNE CRAIG & CORSON
          Abercorn House
          79 Renfrew Road
          Paisley PA3 4DA
          Phone: 00 44 141 887 7811
          Fax: 00 44 141 887 7753
          E-mail: mcc.admin@milnecraig.co.uk
          Web site: http://www.milnecraig.co.uk


KNIGHTSBRIDGE SECURITY: Former Topman Banned for 14 Years
---------------------------------------------------------
The director of a security and wheel clamping business that
failed with total debts estimated at around GBP164,000 has given
an Undertaking not to hold directorships or take any part in
company management for 14 years.

The Undertaking by Alan George Hamilton Pattison, 37, of
Normandy Way, Barleyhurst Park, Milton Keynes was given in
respect of his conduct as a director of Knightsbridge Security
(Southern) Limited, which carried out business from premises at
Units 10, 13 & 15 Rootworks, 16-28 Tavistock Street, Bletchley,
Milton Keynes, MK2 2PF.

Acceptance of the Undertaking on November 30, 2004 prevents Alan
George Hamilton Pattison from being a director of a company or,
in any way, whether directly or indirectly, being concerned or
taking part in the promotion, formation or management of a
company for the above period.  Knightsbridge entered in to
creditors voluntary liquidation on May 2, 2003 with estimated
debts of GBP164,578 owed to creditors.

The Insolvency Service, on behalf of the Secretary of State for
Trade & Industry, has responsibility (under Section (6) of the
Company Directors Disqualification Act 1986) for the
investigation of the conduct of directors of failed companies
and for the disqualification of those who are considered to be
unfit to be involved in the management of companies in the
future.

Matters of unfit conduct, not disputed by Alan George Hamilton
Pattison, were that:

(a) He caused Knightsbridge to fail to comply with statutory
    obligations in respect of payments due to the Crown as only
    one payment of GBP746.50 was paid to Customs and Excise and
    no payment whatsoever was paid to the Inland Revenue.  As a
    result Custom and Excise and the Inland Revenue had a joint
    claim of GBP93,129 at liquidation;

(b) He failed to keep adequate accounting records and as a
    result the liquidator has been unable to satisfy himself as
    to the direct cause of the company's failure; and

(c) He was the sole director of Knightsbridge whilst an
    undischarged bankrupt from October 9, 2001 to liquidation on
    May 2, 2003.

CONTACT:  THE INSOLVENCY SERVICE
          21 Bloomsbury Street
          London, WC1B 3QW
          Web site: http://www.insolvency.gov.uk

          Disqualification Unit
          Phone: 020 7291 6807
                 020 7291 6832 (Vetting)
          E-mail: Disqualification.Unit@insolvency.gsi.gov.uk

          Criminal Allegations Team
          Phone: 020 7291 6841
          E-mail: criminal.allegations@insolvency.gsi.gov.uk


LETSDRIVE TRAINING: Hires Tenon Recovery as Administrator
---------------------------------------------------------
Ian William Kings (IP No 7232) has been appointed administrator
for Letsdrive Training And Development Limited.  The appointment
was made Dec. 15, 2004.

The company is engaged in driving school activities.  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


NOTFARG LIMITED: Members Final General Meeting Set January
----------------------------------------------------------
The final general meeting of the members of Notfarg Limited will
be on Jan. 13, 2005 commencing at 11:00 a.m.  It will be held at
the offices of BDO Stoy Hayward LLP, 8 Baker Street, London W1U
3LL.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the property of the
company disposed of, and to hear any explanation that may be
given by the liquidator.  Members who want to be represented at
the meeting may appoint proxies.  Proxy forms must be lodged
with BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL not
later than 12:00 noon, Jan. 12, 2004.

CONTACT:  BDO STOY HAYWARD LLP
          8 Baker Street, London W1U 3LL
          Phone: 020 7486 5888
          Fax: 020 7487 3686
          E-mail: london@bdo.co.uk
          Web site: http://www.bdostoyhayward.co.uk


PARINGA MINING: Names Ernst & Young Liquidator
----------------------------------------------
At the extraordinary general meeting of Paringa Mining And
Exploration Company on Dec. 15, 2004 held at 100 Hutt Street,
Adelaide, South Australia, the special resolutions to wind up
the company were passed.  Delma Lynne Thompson of Ernst & Young,
Level 16, 321 Kent Street, Sydney NSW 2000 Australia has been
appointed liquidator of the company.

CONTACT:  ERNST & YOUNG LLP
          321 Kent Street
          Sydney NSW 2000
          Phone: +61 2 9248 5555
          Fax: +61 2 9262 6565
          Web site: http://www.ey.com


PINCO 2199: Calls in Liquidator from Kroll Limited
--------------------------------------------------
At the extraordinary general meeting of Pinco 2199 Limited
(formerly known as Witton Group Limited) on Dec. 10, 2004, the
special and ordinary resolutions to wind up the company were
passed.  Joanne Marie Wright and Gurpal Singh Johal of Kroll
Limited, Aspect Court, 4 Temple Row, Birmingham B2 5HG have been
appointed liquidators of the company.

CONTACT:  KROLL LIMITED
          Aspect Court, 4 Temple Row,
          Birmingham B2 5HG


PRESTON GARDEN: Calls Final Members Meeting
-------------------------------------------
The final meeting of the members of Preston Garden Properties
Limited will be on Jan. 18, 2005 commencing at 10:00 a.m.  It
will be held at the offices of Harris Lipman, 2 Mountview Court,
310 Friern Barnet Lane, Whetstone, London N20 0YZ.

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:  HARRIS LIPMAN
          2 Mountview Court,
          310 Friern Barnet Lane,
          Whetstone, London N20 0YZ
          Phone: (020) 8446 9000
          Fax:   (020) 8446 9537
          Web site: http://www.harris-lipman.co.uk


P.V.Z SYSTEMS: Appoints Hurst Morrison Thomson Administrator
------------------------------------------------------------
Robert Christopher Keyes and Paul William Ellison (IP Nos 1016,
7254) have been appointed administrators for P.V.Z Systems
Limited.  The appointment was made Dec. 1, 2004.  The company is
engaged in commercial vehicle training.

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


REVELL CONTINUITY: Calls in Joint Liquidators from Wilder Coe
-------------------------------------------------------------
At the extraordinary general meeting of the members of Revell
Continuity Limited on Dec. 7, 2004 held at the offices of Wilder
Coe, 233-237 Marylebone Road, London NW1 5QT, the special,
ordinary and extraordinary resolutions to wind up the company
were passed.  Norman Cowan and Mark Pearce Riley of Wilder Coe,
12th Floor, Southgate House, St George's Way, Stevenage SG1 1HG
have been appointed joint liquidators of the company.

CONTACT:  WILDER COE
          12th Floor, Southgate House,
          St George's Way, Stevenage SG1 1HG
          Phone: 01438 847200
          Fax:   01438 847150
          Web site: http://www.wildercoe.co.uk


SHORTRIDGE LTD.: Joint Receivers Take over Operations
-----------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

                  IN THE MATTER OF Shortridge Ltd.
                          (In Receivership)

I, Kenneth Robert Craig, Chartered Accountant of Tenon Recovery,
2 Blythswood Square, Glasgow G2 4AD, give notice that on
November 30, 2004, Thomas Campbell MacLennan, and I were
appointed as Joint Receivers of the whole property and assets of
Shortridge Ltd., in terms of section 51 of the Insolvency Act
1986.

In terms of section 59 of the said Act, preferential Creditors
are required to intimate their claims to me within 6 months of
the date of this notice.

K. R. Craig, Joint Receiver

CONTACT:  TENON RECOVERY
          2-4 Blythswood Square
          Glasgow G2 4AD
          Phone: 0141 272 8000
          Fax: 0141 272 8001
          E-mail: glasgow@tenongroup.com
          Web site: http://www.tenongroup.com


SYRIUS (UK): Names Hurst Morrison Administrator
-----------------------------------------------
Paul William Ellison and Gareth Wyn Roberts (IP Nos 7254, 1162)
have been appointed administrators for Syrius (UK) Limited.  The
appointment was made Dec. 13, 2004.  The company is engaged in
container shipping.

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


TELEWEST COMMUNICATIONS: Inks GBP1.8 Billion Loan Agreement
-----------------------------------------------------------
Telewest Global, Inc. (Nasdaq: TLWT) announces that the Telewest
group executed final documentation relating to new GBP1.8
billion credit facilities.  Barclays Capital, BNP Paribas,
Citigroup Global Markets Limited, Credit Suisse First Boston,
Deutsche Bank and The Royal Bank of Scotland acted as book
runners.  Proceeds of the new facilities will be used to repay
borrowings under the group's existing GBP2.03 billion senior
credit facilities.  The new facilities significantly extend the
maturity profile of the group's senior debt and reduce its
overall long-term cost of borrowing.

The new credit facilities reflect better pricing terms than
previously announced and are comprised of five tranches: tranche
A, a 7-year, amortizing term facility of GBP 700 million
initially bearing interest of LIBOR plus 2.25%; tranche B, an 8-
year term facility of GBP 425 million equivalent initially
bearing interest of LIBOR plus 2.375% for loans denominated in
Euro, 2.25% for loans denominated in U.S. dollars and 2.50% for
loans denominated in Sterling; tranche C, a 9-year term facility
of a GBP 325 million equivalent bearing interest of LIBOR plus
2.875% for loans denominated in Euro, 2.75% for loans
denominated in U.S. dollars and 3.00% for loans denominated
Sterling; a 7-year revolving loan facility of GBP 100 million
initially bearing interest of LIBOR plus 2.25%; and a 9 1/2-year
second lien term facility of GBP 250 million bearing interest of
LIBOR plus 4.00%.

Cob Stenham, Chairman of Telewest Global, Inc., said: "We are
extremely pleased to announce execution of our new loan
agreement on better terms than previously announced and we look
forward to working with our new senior lenders.  Combined with
the financial restructuring completed last summer, this
refinancing completes the rebuilding of Telewest's balance sheet
providing us with a significantly improved capital structure and
a strong platform for future growth."

Telewest, the broadband communications and media group,
currently passes and markets to 4.7 million homes and provides
multi-channel television, telephone and Internet services to
1.77 million residential customers.  Telewest Business, the
company's business division, supplies broadband communications
to the public and private sector markets.  Its content division,
Flextech, is the BBC's partner in UKTV.  Together they are the
largest supplier of basic channels to the U.K. pay-TV market
with a portfolio that combines wholly owned and managed
channels, including the nine joint venture channels with the
BBC.  For further information go to
http://mediacentre.telewest.co.uk

CONTACT:  TELEWEST COMMUNICATIONS
          David Buckingham
          Phone: 011-44-(0)20-7299-5667
          Richard Williams
          Phone: 011-44-(0)20-7299-5479
          Vani Gupta
          Phone: 011-44-(0)20-7299-5353
          or

          BRUNSWICK
          Nick Claydon
          Phone: 011-44-(0)20-7404-5959
          Frank De Maria
          Phone: 212-333-3810


THE ADVANCE: Final Members Meeting Set January
----------------------------------------------
The final meeting of the members of The Advance Lamp Company
Limited will be on Jan. 21, 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.

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


THE INDEPENDENT: Names Jackson Jolliffe Administrator
-----------------------------------------------------
Matthew Colin Bowker and David Antony Willis (IP Nos 8106, 9180)
have been appointed administrators for financial advisors The
Independent Financial Partnership Limited.  The appointment was
made Dec. 10, 2004.

CONTACT:  JACKSON JOLLIFFE CORK
          33 George Street,
          Wakefield WF1 1LX
          Phone: 01904 652100
          Fax:   01904 635349
          Web site: http://www.jjcork.co.uk


TOM BRANDS: Creditors to Appoint Liquidator January
---------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

    IN THE MATTER OF Tom Brands Electrical Services Limited
                         (In Liquidation)

I, Blair Carnegie Nimmo, Chartered Accountant, KPMG, 191 West
George Street, Glasgow G2 2LJ, hereby give notice, that by
Interlocutor of the Court of Session dated December 2, 2004, I
was appointed Interim Liquidator of Tom Brands Electrical
Services Limited, having its registered office at KPMG LLP, 191
West George Street, Glasgow G2 2LJ.

Pursuant to section 138(4) of the Insolvency Act 1986 and Rule
4.12 of the Insolvency (Scotland) Rules 1986, the First Meeting
of Creditors will be held within KPMG, 191 West George Street,
Glasgow G2 2LJ at 11:00 a.m. on January 13, 2005, 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 vote, provided
their claims and proxies, if any, have been submitted at or
before the Meeting.

B. C. Nimmo, Interim Liquidator

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


TRUSTCARE SECURITY: Calls First Meeting of Creditors
----------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

             IN THE MATTER OF Trustcare Security Ltd.
                         (In Liquidation)

Notice is hereby that by an Interlocutor of Ayr Sheriff Court
dated December 1, 2004, I was appointed Interim Liquidator of
Trustcare Security Limited.

Pursuant to section 138(4) of the Insolvency Act 1986, the First
Meeting of Creditors of Trustcare Security Ltd. will be held
within the offices of BDO Stoy Hayward, Chartered Accountants,
Ballantine House, 168 West George Street, Glasgow G2 2PT, on
January 7, 2005 at 11:00 a.m. for the purpose of choosing a
Liquidator who may either be the Interim Liquidator or any other
such person qualified to act as Liquidator, appointing a
Liquidation Committee and considering the other Resolutions
specified in Rule 4.12(3) Insolvency (Scotland) Rules 1986.

To be entitled to vote at the Meeting, Creditors must have
lodged their claims with me at or before the Meeting.
Attendance may be either in person by the Creditor or by form of
proxy which, to be valid, must be lodged with me at the address
below before or at the Meeting.

D. J. Hill CA, Interim Liquidator
December 9, 2004.

CONTACT:  BDO STOY HAYWARD
          Ballantine House
          168 West George Street
          Glasgow, G2 2PT
          Phone: 0141 248 3761
          Fax: 0141 332 5467
          E-mail: glasgow@bdo.co.uk
          Web site: http://www.bdostoyhayward.co.uk


WIZZ AIR: 11th Hour Cash-infusion Saves Carrier from Bankruptcy
---------------------------------------------------------------
Low-cost airline Wizz Air has obtained a crucial EUR25 million
loan from American and European institutional investors in
November, Budapest Business Journal found out.

The loan, provided in equal parts by U.S. venture capital firm
Indigo Partners LLC, and by existing partners and new financial
investors, is convertible to shares.  CEO Jozsef Varadi did not
say when the loan will expire and be converted to shares.

Mr. Varadi said: "We have run out of funds, but now our
operation is secured at least for the next two years."  Wizz
Air's partners include maintenance firm Lutfthansa Technik AG
and aircraft lease-lender debis AirFiannce.

In August, the company received EUR3 million from Indigo
Partners and European investors, in addition to its starting
capital of EUR6 million.  Partly owned by Hungarian investors,
Wizz Air was registered in London in May 2004.  It has Polish
and Hungarian subsidiaries based in Katowice and Budapest.

CONTACT:  WIZZ AIR
          Web site: http://www.wizzair.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, Julybien Atadero and Erica Fernando, Editors.

Copyright 2004.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed
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