/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/050103.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 Monday, January 3, 2005, Vol. 6, No. 01 Headlines G E R M A N Y ALPHA GMBH: Court Appoints Provisional Administrator B UND P: Proofs of Claim Deadline Expires this Week EPAS RESSOURCENSCHONENDE: Declares Bankruptcy FIRMA PRIMA: Applies for Bankruptcy Proceedings KARSTADTQUELLE AG: Mulls Expansion of Home Shopping Business KL INNOVATIVE: Administrator to Present Report Mid-February KRONING KLEIDUNG: Last Day for Claims Filing January 23 NOTES DEVELOPMENT: Provisional Administrator Takes over Helm THEODOR KEDING: Gives Creditors Until Next Week to File Claims TOSA HEIZUNGS: Creditors' Meeting Set Last Week of February XAVER ABENSTEIN: Bankruptcy Court Stays All Pending Lawsuits R U S S I A KAMENSKIY ROCK-CRUSHING: Undergoes External Management Procedure KHLEBNIKOVSKIY BRICKWORKS: Declared Insolvent LYSOGORSKOYE BREAD: Deadline for Proofs of Claim Today MECHANIZATION: Gives Creditors Until Next Month to File Claims ORSK-SPETS-STROY: Orenburg Court Opens Bankruptcy Proceedings RUSSIAN FLAX: Appoints M. Muradov Insolvency Manager SEL-KHOZ-TEKHNIKA: Proofs of Claim Deadline Expires February SUDOGODSKIYE FIBER: Vladimir Court Appoints Insolvency Manager TRANS-ENERGO-MONTAZH: Hires V. Aleksandrov as Insolvency Manager VOLGOGRADSKIY: Insolvency Manager to Temporarily Oversee Biz YUKOS OIL: Dec. 19 Auction Violated U.S. Bankruptcy Law YUKOS OIL: Ex-CEO Lambasts Putin, But Denies Plotting Revenge YUKOS OIL: Visibly Absent at Sibneft Annual General Meeting U K R A I N E AGROBUDINDUSTRY: Temporary Insolvency Manager Takes over Helm BUCHMANI: Court Appoints Insolvency Manager DZERZHINSKE AUTO 11478: Court Orders Debt Moratorium ENERGOATOM ASK-SERVICE: Declared Insolvent LIPTSI: Succumbs to Insolvency PECHERSKIJ TRADE: Under Bankruptcy Supervision PTROVES-DONBAS: Donetsk Court Opens Bankruptcy Proceedings SLAVUTICH-AGROSERVICE: Names K. Tsibulevskij Insolvency Manager UKRZALIZNPOSTACH: Bankruptcy Supervision Begins ZARIZHENSKIJ BRICK: Rivne Court Brings in Liquidator U N I T E D K I N G D O M 3 CONSULTING: Owners Agree to Call in Liquidators AGUSTA UK: Final General Meeting Set Later this Month ALCO WASTE: Names DTE Leonard Curtis Administrator AMC WINDOW: Insolvency Service Bans Ex-director for Five Years AMPLIO TECHNOLOGY: Creditors Meeting Next Week CESTE LIMITED: Liquidator's Final Report Out January 27 CRESHFIELD LIMITED: Hires Liquidator from Haslers EASTERN DOMESTIC: Exec Banned from Occupying Management Post EDGER 187: Final General Meeting Set February FARNBOROUGH AIRCRAFT: Owners Opt for Liquidation FSQ INVESTMENTS: Sets Members Final Meeting GROUP NORTHERN: Calls in Liquidator from P&A Partnership HARRIS & DIXON: Ernst & Young Liquidators Enters Firm HORSTMANN LIMITED: Calls Final Meeting of Members INDIANROSE LIMITED: Hires Liquidator from Grant Thornton JARVIS PLC: Firm Reached 'Nadir' in Second Half, Says Chairman MAKRA LIMITED: Authorities Ban Director for 4-1/2 Years MARIA MAGDALENA: Nursing Home in Administrative Receivership MERCANTILE LEASING: Appoints Deloitte & Touche Liquidator MYTRAVEL GROUP: Bondholders, Creditors Okay Debt-to-equity Swap MYTRAVEL GROUP: To Release 2004 Results February NEXTGENTEL LIMITED: Members Final Meeting Set February REDEVELOPED FISH: Sets Creditors Meeting January 17 RENTON DEVELOPMENTS: Members Final Meeting Set SANDOWN CONSULTANCY: Insolvency Service Disqualifies Director THE BIKE: Joint Administrators from Wilson Pitts Move in TOMEN EUROPE: Members to Meet Later this Month ********* ============= G E R M A N Y ============= ALPHA GMBH: Court Appoints Provisional Administrator ---------------------------------------------------- The district court of Mannheim opened bankruptcy proceedings against Alpha Abfallwirtschaft GmbH on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 4, 2005 to register their claims with court-appointed provisional administrator Peter Depre. Creditors and other interested parties are encouraged to attend the meeting on Feb. 28, 2005, 11:30 a.m. at the district court of Mannheim, 68149 Mannheim, 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: ALPHA ABFALLWIRTSCHAFT GMBH Industriestr. 5, 68169 Mannheim Ulrich Masino, Manager Peter Depre, Insolvency Manager O 4, 13-16, 68161 Mannheim Phone: 0621/120780 B UND P: Proofs of Claim Deadline Expires this Week --------------------------------------------------- The district court of Erfurt opened bankruptcy proceedings against B und P Verwaltungs GmbH on Dec. 6, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 7, 2005 to register their claims with court-appointed provisional administrator Dr. Harald Hess. Creditors and other interested parties are encouraged to attend the meeting on Feb. 8, 2005, 2:00 p.m. at the district court of Erfurt, Justizzentrum, Rudolfstr. 46, 99092 Erfurt 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: B UND P VERWALTUNGS GMBH Parkallee 1b, 99867 Gotha Ulrike Koch, Manager Dr. Harald Hess, Insolvency Manager Barbarossahof 4-5, 99092 Erfurt EPAS RESSOURCENSCHONENDE: Declares Bankruptcy --------------------------------------------- The district court of Leipzig opened bankruptcy proceedings against EPAS Ressourcenschonende Produkte GmbH on Dec. 8, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 14, 2005 to register their claims with court-appointed provisional administrator Dr. Florian Stapper. Creditors and other interested parties are encouraged to attend the meeting on Feb. 11, 2005, 9:30 a.m. at the district court of Leipzig, Saal 145, Amtsgericht Leipzig, 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: EPAS RESSOURCENSCHONENDE PRODUKTE GMBH Zweinaundorfer Str. 207, 04316 Leipzig Dr. Lutz Pasemann, Manager Dr. Florian Stapper, Insolvency Manager Karl-Heine-Strasse 16, 04229 Leipzig FIRMA PRIMA: Applies for Bankruptcy Proceedings ----------------------------------------------- The district court of Rostock opened bankruptcy proceedings against Firma Prima Spieltreff GmbH on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 21, 2005 to register their claims with court-appointed provisional administrator Gerhard Brinkmann. Creditors and other interested parties are encouraged to attend the meeting on Feb. 23, 2005, 9:00 a.m. at the district court of Rostock, Zochstrasse, 18057 Rostock, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: FIRMA PRIMA SPIELTREFF GMBH Grubenstrasse 24, 18055 Rostock Klaus Wohlfahrt, Manager Gerhard Brinkmann, Insolvency Manager Freiligrathstrasse 1, 18055 Rostock KARSTADTQUELLE AG: Mulls Expansion of Home Shopping Business ------------------------------------------------------------ Troubled retailing giant KarstadtQuelle AG plans to expand it home shopping operations abroad, Fibre 2 Fashion says. The group, which expects further sales decline due to harsh market condition in 2005, nevertheless forecasts a growth in e- commerce, specialty catalogues and home shopping business abroad. "We want business abroad to generate 30% to 35% of total sales," Christoph Achenbach, KarstadtQuelle's chief executive, said in an interview. Mr. Achenbach said, "We will expand our specialty catalogue business at home and abroad." The chief executive added the group's specialty business abroad currently accounts for 40% of the business. He revealed, "I think achieving 50% over the next five years is a realistic goal." In 2003, home shopping sales abroad swelled by 7.5% to EUR1.9 billion, which accounted for 24.1% of the home shopping division. The home shopping division logged EUR8 billion in total sales, posting a 2.5% dip from 2002. Meanwhile, Mr. Achenbach expressed confidence in disposing of its specialty chains Runners Point and Golf House by mid-2005. The retailer wants to focus on over-the-counter retail. KarstadtQuelle has been looking for buyers for its SinnLeffers, Wehmeyer, Golf House and Runners Point specialty chains. The retail giant said these chains do not have a good positioning in their market segments. CONTACT: KARSTADTQUELLE AG Theodor-Althoff-Str. 2 D-45133 Essen Phone: +49-201-727-1 Fax: +49-201-727-5216 Web site: http://www.karstadtquelle.com KL INNOVATIVE: Administrator to Present Report Mid-February ----------------------------------------------------------- The district court of Dusseldorf opened bankruptcy proceedings against heating technology firm KL Innovative Heizungstechnik GmbH on Dec. 10, 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 Dr. Onno Klopp. Creditors and other interested parties are encouraged to attend the meeting on Feb. 15, 2005, 9:00 a.m. at the district court of Dusseldorf, Hauptstelle, Muhlenstrasse 34, 40213 Dusseldorf, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: KL INNOVATIVE HEIZUNGSTECHNIK GMBH Kolberger Str. 19, 40599 Dusseldorf Winfried Kirchhausen, Manager Rolf Loges, Manager Dr. Onno Klopp, Insolvency Manager Sternstrasse 58, 40479 Dusseldorf KRONING KLEIDUNG: Last Day for Claims Filing January 23 ------------------------------------------------------- The district court of Cologne opened bankruptcy proceedings against wholesale trading firm Kroning Kleidung GmbH on Dec. 6, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 23, 2005 to register their claims with court-appointed provisional administrator Dr. Andreas Ringstmeier. Creditors and other interested parties are encouraged to attend the meeting on Feb. 23, 2005, 9:50 a.m. at the district court of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne, 13. Etage, Saal 1311, 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: KRONING KLEIDUNG GMBH, Simonskaul 5, 50737 Cologne Evelyn Cleve, Manager Dr. Andreas Ringstmeier, Insolvency Manager Magnusstr. 13, 50672 Cologne Phone: 0221/650 660 Fax: +49221650661 NOTES DEVELOPMENT: Provisional Administrator Takes over Helm ------------------------------------------------------------ The district court of Cologne opened bankruptcy proceedings against Notes Development GmbH on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 23, 2005 to register their claims with court-appointed provisional administrator Hans-Gerd Jauch. Creditors and other interested parties are encouraged to attend the meeting on Feb. 23, 2005, 11:05 a.m. at the district court of Cologne, Hauptstelle, Luxemburger Strasse 101, 50939 Cologne, 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: NOTES DEVELOPMENT GMBH Goseriede 4, 30159 Hannover Michael Lutke and Clemens Grassmann, Manager Hans-Gerd Jauch, Insolvency Manager Sachsenring 81, 50677 Cologne Phone: 33660130 Fax: +492213366085 THEODOR KEDING: Gives Creditors Until Next Week to File Claims -------------------------------------------------------------- The district court of Rostock opened bankruptcy proceedings against Theodor Keding Rostocker Traditionsfleischerei und Partyservice GmbH & Co. KG on Dec. 1, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 13, 2005 to register their claims with court-appointed provisional administrator Ulrike Hoge-Peters. Creditors and other interested parties are encouraged to attend the meeting on March 2, 2005, 11:00 a.m. at the district court of Rostock, Zochstrasse, 18057 Rostock, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: THEODOR KEDING ROSTOCKER GMBH & CO. KG Grosse Scharrenstrasse 4, 18055 Rostock Holger Hartlieb, Manager Ulrike Hoge-Peters, Insolvency Manager Rosa-Luxemburg-Strasse 8, 18055 Rostock TOSA HEIZUNGS: Creditors' Meeting Set Last Week of February ----------------------------------------------------------- The district court of Rostock opened bankruptcy proceedings against ToSa Heizungs-, Sanitar- und Elektrotechnik GmbH on Nov. 30, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 21, 2005 to register their claims with court-appointed provisional administrator Ulrich Rosenkranz. Creditors and other interested parties are encouraged to attend the meeting on Feb. 23, 2005, 11:00 a.m. at the district court of Rostock, Zochstrasse, 18057 Rostock, at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: TOSA HEIZUNGS-, SANITAR- UND ELEKTROTECHNIK GMBH Parkstrasse 3, 18239 Satow Andre Topel, Manager Ulrich Rosenkranz, Insolvency Manager Markt 11, 18311 Ribnitz-Damgarten XAVER ABENSTEIN: Bankruptcy Court Stays All Pending Lawsuits ------------------------------------------------------------ The district court of Leipzig opened bankruptcy proceedings against Xaver Abenstein GmbH & Co. KG on Dec. 3, 2004. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Jan. 7, 2005 to register their claims with court-appointed provisional administrator Friedbert Striewe. Creditors and other interested parties are encouraged to attend the meeting on Feb. 9, 2005, 3:00 p.m. at the district court of Leipzig, Saal 101, Amtsgericht Leipzig, 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: XAVER ABENSTEIN GMBH & CO. KG Leisniger Str. 2, 04668 Grimma Friedbert Striewe, Insolvency Manager Fichtestrasse 3, 04275 Leipzig =========== R U S S I A =========== KAMENSKIY ROCK-CRUSHING: Undergoes External Management Procedure ---------------------------------------------------------------- The Arbitration Court of Saratov region has commenced external management bankruptcy procedure on open joint stock company Kamenskiy Rock-Crushing Plant. The case is docketed as A57- 1007B/02-31. Mr. A. Zuev has been appointed external insolvency manager. CONTACT: KAMENSKIY ROCK-CRUSHING PLANT 413720, Russia, Saratov region, Pugachevskiy region, Zavolzhskiy Mr. A. Zuev External Insolvency Manager 410005, Russia, Saratov, Universitetskaya Str. 45 The Arbitration Court of Saratov region 410031, Russia, Saratov, Pervomayslaya Str. 74 KHLEBNIKOVSKIY BRICKWORKS: Declared Insolvent --------------------------------------------- The Arbitration Court of Moscow region commenced bankruptcy proceedings against Khlebnikovskiy Brickworks after finding the open joint stock company insolvent. The case is docketed as A41-K2-319/01. Mr. V. Ryabchenkov has been appointed insolvency manager. Creditors may submit their proofs of claim to 111250, Russia, Moscow, Krasnokazarmennaya Str. 9. CONTACT: KHLEBNIKOVSKIY BRICKWORKS 141720, Russia, Moscow region, Dolgoprudnyj, Sheremetyevskiy, Gorkogo Str. 1 Mr. V. Ryabchenkov Insolvency Manager 111250, Russia, Moscow, Krasnokazarmennaya Str. 9 LYSOGORSKOYE BREAD: Deadline for Proofs of Claim Today ------------------------------------------------------ The Arbitration Court of Saratov region has commenced bankruptcy supervision procedure on open joint stock company Lysogorskoye Bread Receiving Enterprise. The case is docketed as A57- 193B/04-23. Ms. T. Karpova has been appointed temporary insolvency manager. Creditors have until Jan. 3, 2005 to submit their proofs of claim to 412861, Russia, Saratov region, Lysye Gory, Mira Str., 71. A hearing will take place at the Arbitration Court of Saratov region on March 22, 2005, 2:50 p.m. CONTACT: LYSOGORSKOYE BREAD RECEIVING ENTERPRISE 412861, Russia, Saratov region, Lysye Gory, Mira Str. 71 Ms. T. Karpova Temporary Insolvency Manager 412861, Russia, Saratov region, Lysye Gory, Mira Str. 71 MECHANIZATION: Gives Creditors Until Next Month to File Claims -------------------------------------------------------------- The Arbitration Court of Saratov region commenced bankruptcy proceedings against Mechanization after finding the open joint stock company insolvent. The case is docketed as A57-79B/04-31. Mr. I. Shestyerkin has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to 410019, Russia, Saratov, 1st Magnitnyj Pr. 36A, Apartment 2. CONTACT: MECHANIZATION 410086, Russia, Saratov region, Saratov, Elshanka, Peschano-Umetskiy Trakt Mr. I. Shestyerkin Insolvency Manager 410019, Russia, Saratov, 1st Magnitnyj Pr., 36A, Apartment 2 ORSK-SPETS-STROY: Orenburg Court Opens Bankruptcy Proceedings ------------------------------------------------------------- The Arbitration Court of Orenburg region commenced bankruptcy proceedings against Orsk-Spets-Stroy after finding the close joint stock company insolvent. The case is docketed as A47- 5158/2004-14GK. Ms. O. Shevtsova has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to 460006, Russia, Orenburg, Komsomolskaya Str. 126-51. CONTACT: ORSK-SPETS-STROY 462403, Russia, Orenburg region, Orsk, Mira Pr. 6A Ms. O. Shevtsova Insolvency Manager 460006, Russia, Orenburg, Komsomolskaya Str. 126-51 Phone: (3532) 73-26-01 Fax: (3532) 36-13-37 RUSSIAN FLAX: Appoints M. Muradov Insolvency Manager ---------------------------------------------------- The Arbitration Court of Ivanovo region has commenced bankruptcy supervision procedure on open joint stock company Russian Flax. The case is docketed as A14-1217/04-14-B. Mr. M. Muradov has been appointed temporary insolvency manager. Creditors have until Jan. 3, 2005 to submit their proofs of claim to 153506, Russia, Ivanovo region, Bogorodskoye, Shkolnaya Str. 7A. A hearing will take place on March 29, 2005. CONTACT: RUSSIAN FLAX 155650, Russia, Ivanovo region, Pestyaki, Sovetskaya Str. 179 Mr. M. Muradov Temporary Insolvency Manager 153506, Russia, Ivanovo region, Bogorodskoye, Shkolnaya Str. 7A SEL-KHOZ-TEKHNIKA: Proofs of Claim Deadline Expires February ------------------------------------------------------------ The Arbitration Court of Tver region commenced bankruptcy proceedings against Sel-Khoz-Tekhnika after finding the company insolvent. The case is docketed as A66-9383-03. Ms. A. Potyemkina has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to: (a) Insolvency Manager 170011, Russia, Tver, 1st za liniyey OZhD Str. 2 (b) The Arbitration Court Of Tver Region 170000, Russia, Tver, Sovetskaya Str. 23B (c) Sel-Khoz-Tekhnika 172750, Russia, Tver region, Ostashkov, Urozhaynaya Str. 9 SUDOGODSKIYE FIBER: Vladimir Court Appoints Insolvency Manager -------------------------------------------------------------- The Arbitration Court of Vladimir region commenced bankruptcy proceedings against Sudogodskiye Fiber Materials after finding the open joint stock company insolvent. The case is docketed as A11-2851/2004-K1-26. Mr. M. Anikin has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to 600009, Russia, Vladimir, Elektrozavodskaya Str. 7, Room 207. CONTACT: SUDOGODSKIYE FIBER MATERIALS 601350, Russia, Vladimir region, Sudogda, Kommunisticheskaya Str. 1 Mr. M. Anikin Insolvency Manager 600009, Russia, Vladimir, Elektrozavodskaya Str. 7, Room 207 TRANS-ENERGO-MONTAZH: Hires V. Aleksandrov as Insolvency Manager ---------------------------------------------------------------- The Arbitration Court of Irkutsk region commenced bankruptcy proceedings against Trans-Energo-Montazh after finding the close joint stock company insolvent. The case is docketed as A19- 505/04-29. Mr. V. Aleksandrov has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to Russia, Bratsk-17, Post User Box 888. A hearing will take place on Sept. 13, 2005. CONTACT: TRANS-ENERGO-MONTAZH 655703, Russia, Irkutsk region, Bratsk, Angarskaya Str. 6 Mr. V. Aleksandrov Insolvency Manager Russia, Bratsk-17, Post User Box 888 VOLGOGRADSKIY: Insolvency Manager to Temporarily Oversee Biz ------------------------------------------------------------ The Arbitration Court of Volgograd region commenced bankruptcy proceedings against Volgogradskiy after finding the tinned food factory insolvent. The case is docketed as A12-13141/04-s47. Mr. Y. Demenkov has been appointed insolvency manager. Creditors have until Feb. 3, 2005 to submit their proofs of claim to 400005, Russia, Volgograd, 7th Gvardeyskaya Str., 2A, office 400. CONTACT: VOLGOGRADSKIY 400074, Russia, Volgograd, Maykopskaya Str. 5 Mr. Y. Demenkov Insolvency Manager 400005, Russia, Volgograd, 7th Gvardeyskaya Str., 2A, office 400 YUKOS OIL: Dec. 19 Auction Violated U.S. Bankruptcy Law ------------------------------------------------------- In advertisements placed last week, Yukos Oil said the December 19 auction of Yukos' stock in Yuganskneftegas was a violation of United States bankruptcy law. The company said the sale will damage Yukos in excess of US$20 billion. It vowed to pursue all available legal avenues to recover damages from any person or entity involved in the illegal sale of these assets or any other assets covered in the company's bankruptcy filing. The advertisements was placed in Thursday's global editions of the Financial Times, Wall Street Journal, New York Times, and International Herald Tribune. The ads also appeared in Vedomosti, Russia's leading daily business newspaper, and in the Moscow Times, Russia's leading English-language daily newspaper. Yukos' legal counsel informed the bankruptcy court in Houston of the decision to place said advertisements during a hearing on Wednesday, Dec. 22. United States law gives the U.S. Bankruptcy Court for the Southern District of Texas in Houston exclusive jurisdiction over the property of Yukos' Chapter 11 estate "wherever located." Under the law, an automatic stay went into immediate effect when the company filed for bankruptcy on Dec. 14, 2004. The automatic stay protects the company's assets through the bankruptcy process. It prevents creditors from collecting claims (including tax claims) that arose prior to the bankruptcy filing or from taking "possession" or "control" of Yukos property covered under the filing. The automatic stay and the Court's December 16 Temporary Restraining Order barring the auction was violated when Gazpromneft and Baikal Finance Group participated in the auction on December 19. Even though the TRO expired on December 26, the automatic stay remains in force indefinitely through the bankruptcy process and until lifted or amended by the Court. Though Baikal Finance Group, a previously unknown company, emerged as the winning bidder in the auction, days later the shares were transferred to or purchased by Rosneft, a government-owned oil company, itself set to be acquired by Gazprom. In the notice, Yukos indicates that it will pursue all available legal avenues to recover damages against any person or entity who: (1) participates, facilitates or finances the sale or purchase of the Stock, (2) interferes with Yukos employment relationships with its employees, (3) interferes with property of Yukos' Chapter 11 bankruptcy estates and (4) attempts to collect from Yukos any claims that arose prior to Yukos' bankruptcy filing. The Court has scheduled the next hearing on the Yukos bankruptcy for Thursday, January 6, 2005 in Houston, Texas. For more information on the case, please visit http://www.yukosbankruptcy.com/. Headquartered in Houston, Texas, Yukos Oil Company -- http://www.yukos.com/-- is an open joint stock company existing under the laws of the Russian Federation. Yukos is involved in the energy industry substantially through its ownership of its various subsidiaries, which own or are otherwise entitled to enjoy certain rights to oil and gas production, refining and marketing assets. The Company filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D. Tex. Case No. 04-47742). Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H. Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R. Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the Debtor in its restructuring efforts. When the Debtor filed for protection from its creditors, it listed US$12,276,000,000 in total assets and US$30,790,000,000 in total debt. YUKOS OIL: Ex-CEO Lambasts Putin, But Denies Plotting Revenge ------------------------------------------------------------- Former Yukos chief executive Mikhail Khodorkovsky criticized President Vladimir Putin for the collapsed of fuel giant Yukos Oil. Mr. Khodorkovsky, who wrote an article that appeared in the Tuesday edition of Vedomosti, a local business daily, said Kremlin's rundown on Yukos has inflicted "senseless" damage on the country's economy. According to him, he has accepted his fate of spending several years in prison and knew there was slim chance of saving Yukos, which is now burdened with heavy tax debt. "Many people might think this odd, but parting with my property will not be unbearably painful for me," the article, entitled "Property and Freedom," said. Mr. Khodorkovsky also "thanked" the prison for giving him ample time to contemplate and "re-examine the many sides of life." He likewise criticized the current bureaucracy, as it has been running the government instead of serving it. Yukos' demise has become the "most senseless and destructive event for the economy" in Putin's administration, he said. He added, "The question is what lessons the country will take from the Yukos affair. No true patriot would give his life for a bunch of bureaucrats who are only interested in feathering their own nests." Mr. Khodorkovsky compared himself to Alexandre Dumas' Count of Monte Cristo, who was wrongly imprisoned by his rivals. He said these people jailed him because of fear of revenge. He accused them of thinking that "everyone lives by their rules." He ended his article, " But don't worry, I'm not planning to become the Count of Monte Cristo." Mr. Khodorkovsky's downfall has been considered a well-planned action to punish him for his political ambitions and vast oil assets, which he acquired via the government's controversial privatizations in the 1990s. CONTACT: OAO NK YUKOS 31A, Dubininskaya St. 115054 Moscow, Russia Phone: +7-95-232-3161 Fax: +7-95-232-3160 Web site: http://www.yukos.com Investor Relations Alexander Gladyshev Phone: +7 095 788 00 33 E-mail: investors@yukos.ru Press Service Alexander Shadrin Phone: +7 095 785-08-55 E-mail: pr@yukos.ru International Information Department Hugo Erikssen Phone: + 7 095 540-63-13 E-mail: inter@yukos.ru YUKOS OIL: Visibly Absent at Sibneft Annual General Meeting ----------------------------------------------------------- Troubled Yukos Oil may have lost its interest in managing local oil company Sibneft, analysts say. Yukos did not attend the recently concluded Sibneft annual shareholders' meeting. An MDM Bank analyst claimed this was due to the fact that Yukos holds a minority stake in Sibneft and is interested in a reverse deal. A Prospect Investment expert believes Yukos' absence in the meeting was to prevent a conflict with Roman Abranovich, Sibneft's majority shareholder, and partners. The expert added Yukos is still planning to gain from its 20% stake in Sibneft. This, however, would depend on the government, which has frozen Yukos' shares in Sibneft, the expert noted. CONTACT: OAO NK YUKOS 31A, Dubininskaya St. 115054 Moscow, Russia Phone: +7-95-232-3161 Fax: +7-95-232-3160 Web site: http://www.yukos.com Investor Relations Alexander Gladyshev Phone: +7 095 788 00 33 E-mail: investors@yukos.ru Press Service Alexander Shadrin Phone: +7 095 785-08-55 E-mail: pr@yukos.ru International Information Department Hugo Erikssen Phone: + 7 095 540-63-13 E-mail: inter@yukos.ru ============= U K R A I N E ============= AGROBUDINDUSTRY: Temporary Insolvency Manager Takes over Helm ------------------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy supervision procedure on LLC Agrobudindustry (code EDRPOU 22009409) on October 18, 2004. The case is docketed as 27/86 B. Arbitral manager Mrs. I. Sholohova (License Number AA 047997) has been appointed temporary insolvency manager. The company holds account number 26007301184 at State savings bank, MFO 394493. CONTACT: AGROBUDINDUSTRY 85700, Ukraine, Donetsk region, Volnovaha, 100 Rokiv Chervonogo Hresta Str. 3 Mrs. I. Sholohova Temporary Insolvency Manager 83122, Ukraine, Donetsk region, Universitetska Str. 6/27 ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 BUCHMANI: Court Appoints Insolvency Manager ------------------------------------------- The Economic Court of Zhitomir region commenced bankruptcy proceedings against State Enterprise Turf-Gaining Enterprise Buchmani (code EDRPOU 24698881) on October 6, 2004 after finding the limited liability company insolvent. The case is docketed as 7/99 B. Arbitral manager Mr. N. Voznyakevich (License Number AA 249802) has been appointed liquidator/insolvency manager. The company holds account number 260044997 at JSPPB Aval, Olevske branch, MFO 311528. CONTACT: STATE ENTERPRISE TURF-GAINING ENTERPRISE BUCHMANI 11056, Ukraine, Zhitomir region, Olevskij district, Buchmani, Zhovtneva Str. 1A Mr. N. Voznyakevich Liquidator/Insolvency Manager Ukraine, Vinnitsya region, Hmelnitske Shose Str. 2-A, Room 712 Phone: (0432) 39-97-85 ECONOMIC COURT OF ZHITOMIR REGION 10002, Ukraine, Zhitomir region, Putyatinski Square, 3/65 DZERZHINSKE AUTO 11478: Court Orders Debt Moratorium ---------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy supervision procedure on OJSC Dzerzhinske Auto Transport Enterprise 11478 (code EDRPOU 03116281) on October 7, 2004 and ordered a moratorium on satisfaction of creditors' claims. The case is docketed as 42/157 B. Arbitral manager Mr. Vitalij Paterilov (License Number AA 783055) has been appointed temporary insolvency manager. The company holds account number 26007275032790 at JSCB Ukrsocbank, Gorlivka branch, MFO 334088. Creditors may submit their proofs of claim to: (a) DZERZHINSKE AUTO TRANSPORT ENTERPRISE 11478: 85200, Ukraine, Donetsk region, Dzerzhinsk, Dzerzhinskij Str. 6 (b) Mr. Vitalij Paterilov Temporary Insolvency Manager 83050, Ukraine, Donetsk region, a/b 6915 Phone: 8 (050) 360-80-66 (c) ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 ENERGOATOM ASK-SERVICE: Declared Insolvent ------------------------------------------ The Economic Court of Zaporizhya region commenced bankruptcy proceedings against Energoatom Ask-Service (code EDRPOU 22157989) on November 1, 2004 after finding the limited liability company insolvent. The case is docketed as 19/74(04). Arbitral manager Mr. Oleksandr Potapov (License Number AA 779120) has been appointed liquidator/insolvency manager. The company holds account number 26001001999 at OJSC Big-Energiya, Energodar branch, MFO 313764. CONTACT: ENERGOATOM ASK-SERVICE 71500, Ukraine, Zaporizhya region, Energodar Komsomolska Str. 3 Mr. Oleksandr Potapov Liquidator/Insolvency Manager 71500, Ukraine, Zaporizhya region, Energodar, a/b 118 ECONOMIC COURT OF ZAPORIZHYA REGION 69001, Ukraine, Zaporizhyan region, Shaumyana Str. 4 LIPTSI: Succumbs to Insolvency ------------------------------ The Economic Court of Harkiv region commenced bankruptcy proceedings against LIPTSI (code EDRPOU 00850460) on November 17, 2004 after finding the open joint stock company insolvent. The case is docketed as B-39/80-04. Arbitral manager Mr. O. Tkachov (License Number AA 719868) has been appointed liquidator/insolvency manager. CONTACT: LIPTSI Ukraine, Harkiv region, Harkiv district, Vesele Mr. O. Tkachov Liquidator/Insolvency Manager Phone: (066) 722-40-01 ECONOMIC COURT OF HARKIV REGION 61022, Ukraine, Harkiv region, Svobodi Square, 5, Derzhprom, 8th entrance PECHERSKIJ TRADE: Under Bankruptcy Supervision ---------------------------------------------- The Economic Court of Kyiv region has commenced bankruptcy supervision procedure on CJSC Pecherskij Trade Centre (code EDRPOU 01564986). The case is docketed as 24/852-b. Mr. Vitalij Zasyadchuk (License Number AA 630021) has been appointed temporary insolvency manager. The company holds account number 26009311201 at JSB Energobank, Kyiv region branch, MFO 300272. Creditors may submit their proofs of claim to: (a) PECHERSKIJ TRADE CENTRE 01010, Ukraine, Kyiv region, Suvorov Str. 4 (b) Mr. Vitalij Zasyadchuk Temporary Insolvency Manager 02097, Ukraine, Kyiv region, Balzak Str. 77/548 Phone: (044) 204-47-19 (c) ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard, 44-B PTROVES-DONBAS: Donetsk Court Opens Bankruptcy Proceedings ---------------------------------------------------------- The Economic Court of Donetsk region commenced bankruptcy proceedings against Ptroves-Donbas (code EDRPOU 32476151) on November 11, 2004 after finding the limited liability company insolvent. Mrs. Svitlana Lunyova (License Number AA 668348) has been appointed liquidator/insolvency manager. Creditors may submit their proofs of claim to: (a) PTROVES-DONBAS 83003, Ukraine, Donetsk region, Livoberezhna Str. 13 (b) Mrs. Svitlana Lunyova Liquidator/Insolvency Manager 83054, Ukraine, Donetsk region, Politbijtsiv Str. 5/47 (c) ECONOMIC COURT OF DONETSK REGION 83048, Ukraine, Donetsk region, Artema Str. 157 SLAVUTICH-AGROSERVICE: Names K. Tsibulevskij Insolvency Manager --------------------------------------------------------------- The Economic Court of Zaporizhya region commenced bankruptcy proceedings against Slavutich-Agroservice (code EDRPOU 23877674) on November 4, 2004 after finding the limited liability company insolvent. The case is docketed as 25/201. Mr. K. Tsibulevskij has been appointed liquidator/insolvency manager. CONTACT: 69076, Ukraine, Zaporizhyan region, Yuvilejnij Avenue, 29-52 K. Tsibulevskij Liquidator/Insolvency Manager 69076, Ukraine, Zaporizhyan region, Yuvilejnij Avenue, 26/169 ECONOMIC COURT OF ZAPORIZHYA REGION 69001, Ukraine, Zaporizhyan region, Shaumyana Str. 4 UKRZALIZNPOSTACH: Bankruptcy Supervision Begins ----------------------------------------------- The Economic Court of Sumi region has commenced bankruptcy supervision procedure on CJSC Ukrzaliznpostach (code EDRPOU 30653623). The case is docketed as 7/126-04. Arbitral manager Mr. Usenko Mikola (License Number AA 249729) has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to: (a) UKRZALIZNPOSTACH 40022, Ukraine, Sumi region, Topolyanska Str. 28 (b) ECONOMIC COURT OF SUMI REGION 40011, Ukraine, Sumi region, Ribalka Str. 2 ZARIZHENSKIJ BRICK: Rivne Court Brings in Liquidator ---------------------------------------------------- The Economic Court of Rivne region commenced bankruptcy proceedings against Zarizhenskij Brick Plant (code EDRPOU 22554986) on September 27, 2004 after finding the company insolvent. The case is docketed as 9/32. Dubrovitska City State Tax Inspection has been appointed liquidator/insolvency manager. Creditors may submit their proofs of claim to: (a) ZARIZHENSKIJ BRICK PLANT 34000, Ukraine, Rivne region, Zarizhensk, (b) Liquidator/Insolvency Manager Ukraine, Rivne region, Dubrovitsya, Makarivska Str. 1a Phone: 2-14-23 (c) ECONOMIC COURT OF RIVNE REGION 33001, Ukraine, Rivne region, Yavornitski Str. 59 =========================== U N I T E D K I N G D O M =========================== 3 CONSULTING: Owners Agree to Call in Liquidators ------------------------------------------------- At the extraordinary general meeting of the members of 3 Consulting Limited on Dec. 17, 2004 held at Langley House, Park Road, London N2 8EX, the extraordinary and ordinary resolutions to wind up the company were passed. Alan Simon has been appointed liquidator of the company. AGUSTA UK: Final General Meeting Set Later this Month ----------------------------------------------------- The final general meeting of Agusta UK Limited will be on Jan. 31, 2005 commencing at 10:00 a.m. It will be held at Ernst & Young, 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 ALCO WASTE: Names DTE Leonard Curtis Administrator -------------------------------------------------- J. M. Titley, A. Poxon and J. J. Schapira (IP Nos 8617, 8620 and 5784) have been appointed joint administrators for Alco Waste Management Limited. The appointment was made Dec. 21, 2004. The company specializes in waste management. Its registered office is located at Dixon House, Joseph Noble Road, Lillyhall, Workington CA14 4JH. CONTACT: DTE LEONARD CURTIS DTE House, Hollins Mount, Bury BL9 8AT Phone: 0161 767 1200 Fax: 0161 767 1201 Web site: http://www.dtegroup.com AMC WINDOW: Insolvency Service Bans Ex-director for Five Years -------------------------------------------------------------- A director of a PVC windows, doors and conservatories supply and installation business that failed with total debt estimated at around GBP98,000 has given an undertaking not to hold directorships or take any part in company management for five years. The undertaking by Craig Skinner, 36, of Corner Cottage, Straight Road, Battisford, Stowmarket, Suffolk, IP14, was given in respect of his conduct as a director of AMC Window Design Limited, which carried out business from premises at Moats Tye Hall, Combs, Suffolk, IP1 2EN. Acceptance of the undertaking on November 26, 2004 prevents Mr. Skinner from being a director of a company, or in any way being concerned or taking part in the promotion, formation or management of a company for the above period. AMC was placed into voluntary liquidation on March 31, 2003 with estimated debt of GBP88,427 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. Skinner, were that: (a) He caused AMC to use a Mercedes Van for purposes unconnected with its business after it ceased trading between November 30, 2002 and April 2, 2003; (b) He allowed two conservatories to be built at the homes of two directors of AMC; (c) He allowed loans owed to AMC by a connected company with a value of GBP11,746.49 to be written off; (d) He allowed works to be undertaken by AMC to the home of a director of AMC; (e) He caused the successor company of AMC, AMC Fenestration Limited, to have the benefit of goods and work in progress with a value in excess of GBP40,000 which were the property of AMC; (f) he caused two payments of GBP13,104 and GBP8,100 to be paid from AMC's bank accounts with Lloyds Bank and the Royal Bank of Scotland after it had ceased trading to AMC Fenestration Limited to the detriment of its general body of creditors; and (g) he allowed legal fees of no less than GBP8,000 payable by a director of AMC personally to be paid by AMC. 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 AMPLIO TECHNOLOGY: Creditors Meeting Next Week ---------------------------------------------- The creditors of Amplio Technology Group Limited will meet on Jan. 12, 2005 commencing at 10:00 a.m. It will be held at the offices of BDO Stoy Hayward LLP, Kings Wharf, 20-30 Kings Road, Reading, Berkshire RG1 3EX. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to BDO Stoy Hayward LLP, Kings Wharf, 20-30 Kings Road, Reading, Berkshire RG1 3EX not later than 12:00 noon, Jan. 11, 2005. CONTACT: BDO STOY HAYWARD LLP Kings Wharf, 20-30 Kings Road, Reading, Berkshire RG1 3EX Phone: 0118 925 4400 Fax: 0118 925 4470 E-mail: reading@bdo.co.uk Web site: http://www.bdostoyhayward.co.uk CESTE LIMITED: Liquidator's Final Report Out January 27 ------------------------------------------------------- Name of companies: Ceste Limited Corrisbrook Limited Dispense Limited Flojet (UK) Limited Fowlie Chapman Trading Limited The final meeting of these companies will be on Jan. 27, 2005 commencing at 10:00 a.m. It will be held at the offices of PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court, London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com CRESHFIELD LIMITED: Hires Liquidator from Haslers ------------------------------------------------- At the extraordinary general meeting of Creshfield Limited (formerly DB Corporation Limited) on Dec. 17, 2004 held at Johnston House, 8 Johnston Road, Woodford Green, Essex IG8 0XA, the special and ordinary resolutions to wind up the company were passed. Roger L. Cain of Haslers, Johnston House, 8 Johnston Road, Woodford Green, Essex IG8 0XA has been appointed liquidator of the company. CONTACT: HASLERS Johnston House, 8 Johnston Road, Woodford Green, Essex IG8 0XA Phone: 020 8504 3344 Fax: 020 8506 5100 E-mail: enquiry@haslers.com Web site: http://www.haslers.com EASTERN DOMESTIC: Exec Banned from Occupying Management Post ------------------------------------------------------------ The director of a domestic electrical business, which failed with total debt estimated at GBP443,000, has given an undertaking not to hold directorships or take any part in company management for three and a half years. The undertaking by Alan Holyoake, 62, of Intwood Lane, Lower East Carleton, Norfolk, was given in respect of his conduct as a director of Eastern Domestic Limited, which carried out business from premises at Energy House, Rackheath Industrial Estate, Norwich NR13 6LH. Acceptance of the undertaking on December 20, 2004 prevents Mr. Holyoake from being a director of a company, or in any way being concerned or taking part in the promotion, formation or management of a company for three and a half years. Eastern Domestic Ltd. was placed into compulsory liquidation by Order of the High Court on February 26, 2003 on the petition of H M Inland Revenue for GBP63,530 claimed in respect of unpaid tax. The company has an estimated total deficiency of GBP443,000. The Official Receiver at Norwich had conduct of the investigation and disqualification procedure. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future Matter of unfit conduct, not disputed by Mr. Holyoake, were that: (a) He caused Eastern to trade to the detriment of H M Customs and Excise by making only one payment of GBP4,000 to that department between December 1, 2001 and cessation of trading at the end of January 2003, during which period a debt of GBP103,683 in respect of VAT due accrued, resulting in a net loss to HM Customs and Excise of GBP99,683 from continued trading during that period; (b) he also caused Eastern to trade to the detriment of the Inland Revenue by making only one payment of GBP5,902 to that department between January 19, 2002 and cessation of trading, whilst a further liability of at least GBP50,142 accumulated, resulting in a net loss to the Inland Revenue of GBP44,240 from continued trading during that period. (c) during the period December 1, 2001 to cessation of Eastern's trading, more substantial payments continued to be made to other classes of creditor, which, according to Eastern's records, during the period March 1, 2002 to January 31, 2003 totaled at least GBP416,129. 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 EDGER 187: Final General Meeting Set February --------------------------------------------- The final general meeting of the members of Edger 187 Limited will be on Feb. 7, 2005 commencing at 11:30 a.m. It will be held at the offices of HKM LLP, The Old Mill, 9 Soar Lane, Leicester LE3 5DE. 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 HKM LLP, The Old Mill, 9 Soar Lane, Leicester LE3 5DE not later than 12:00 noon, Feb. 4, 2005. CONTACT: HKM LLP The Old Mill, 9 Soar Lane, Leicester LE3 5DE Phone: +44(0) 116 242 5100 Fax: +44(0) 116 242 5200 Insolvency Fax: +44 (0) 116 242 5201 Web site: http://www.hkm.co.uk FARNBOROUGH AIRCRAFT: Owners Opt for Liquidation ------------------------------------------------ At the extraordinary general meeting of the members of Farnborough Aircraft Holdings Plc on Dec. 15, 2004 held at Red Lodge, The Close, London N20 8PS, the special and ordinary resolutions to wind up the company were passed. Paul Howard Finn of Finn Associates, Four The Chandlery, 40 Gowers Walk, London E1 8BH has been appointed liquidator of the company. CONTACT: FINN ASSOCIATES Four The Chandlery, 40 Gowers Walk, London E1 8BH FSQ INVESTMENTS: Sets Members Final Meeting ------------------------------------------- The final meeting of the members of FSQ Investments Limited will be on Jan. 25, 2005 commencing at 10:00 a.m. It will be held at RSM Robson Rhodes, 186 City Road, London EC1V 2NU. 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 RSM Robson Rhodes, 186 City Road, London EC1V 2NU not later than 12:00 noon, Jan. 24, 2005. CONTACT: RSM ROBSON RHODES LLP 186 City Road, London EC1V 2NU Phone: +44 (0) 20 7251 1644 Fax: +44 (0) 20 7250 0801 Web site: http://www.robsonrhodes.co.uk GROUP NORTHERN: Calls in Liquidator from P&A Partnership -------------------------------------------------------- At the extraordinary general meeting of Group Northern Design Limited on Dec. 16, 2004 held at Bentley Square, Calverley Road, Leeds, West Yorkshire LS26 8JH, the subjoined special, ordinary and extraordinary resolutions to wind up the company were passed. John Russell of 93 Queen Street, Sheffield S1 1WF, duly qualified under the Insolvency Act 1986 has been appointed liquidator of the company. CONTACT: THE P&A PARTNERSHIP 93 Queen Street, Sheffield S1 1WF Phone: (0114) 275 5033 Fax: (0114) 276 8556 E-mail: info@poppletonappleby.co.uk Web site: http://www.thepandapartnership.com HARRIS & DIXON: Ernst & Young Liquidators Enters Firm ----------------------------------------------------- At the extraordinary general meeting of Harris & Dixon Insurance Holdings Limited on Dec. 17, 2004 held at 100 Leman Street, London E1 8AJ, the special resolution to wind up the company was passed. Patrick Joseph Brazzill and Michael David Rollings of Ernst & Young LLP, 1 More London Place, London SE1 2AF have been appointed joint liquidators of the company. 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 HORSTMANN LIMITED: Calls Final Meeting of Members ------------------------------------------------- Name of companies: Horstmann Limited Jack Kleeman (Merchants) Limited Neatdrink Limited Platon Instrumentation Platon Investments Limited SIIN Limited The final meetings of the members of these companies will be on Jan. 27, 2005 commencing at 10:00 a.m. It will be held at the offices of PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court, London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.com INDIANROSE LIMITED: Hires Liquidator from Grant Thornton -------------------------------------------------------- At the extraordinary general meeting of Indianrose Limited on Dec. 13, 2004 held at Compass House, First Floor, 22 Redan Place, London W2 4SA, the special resolution to wind up the company was passed. Samantha Keen of Grant Thornton UK LLP, 1 Westminster Way, Oxford OX2 0PZ has been appointed liquidator of the company. CONTACT: GRANT THORNTON 1 Westminster Way, Oxford OX2 0PZ Phone: 01865 799899 Fax: 01865 724420 Web site: http://www.grant-thornton.co.uk JARVIS PLC: Firm Reached 'Nadir' in Second Half, Says Chairman -------------------------------------------------------------- [This statement by Chairman Steven Norris was released on December 29, 2004 along with the interim results for the second half.] Introduction The Group has had an exceedingly challenging first half-year. These results, which have been largely foreshadowed in trading statements in July and November 2004 and in recent disposals circulars to shareholders, represent the nadir of the Group's fortunes. Since September many of the serious issues facing the Group have been resolved. In particular, the realization of the value of our Tube Lines interest and the effective capping of our liabilities in respect of our outstanding construction contracts, both referred to in more detail below, allow us to draw a line under the past and look forward with much more confidence to a positive future with a smaller but profitable business. The reported loss before tax totals GBP283.1million (2003/4: profit GBP33.7 million) of which GBP240.1 million is exceptional and mainly relates to the write off of goodwill in the roads business, provision for construction losses and write off of aged debtor balances and certain work in progress. Despite these results, in the last few weeks the Group has made outstanding progress with its business plan to stabilize the Group's finances and reduce indebtedness. Shareholders have approved the sale of a property portfolio that will raise some GBP25 million. Agreement has been reached for the sale of the European roads business for GBP24.5 million. Agreement has also been reached on the sale of the Company's interest in Tube Lines Ltd for a gross consideration of GBP146.8 million (of which GBP95.5 million is cash, and GBP51.3 million represents the release of collateralized cash) and the release of a contingent liability of GBP11.7 million. The Group has reached agreement on funding contributions (including those of the group) of some GBP105 million to enable the completion of 14 current construction contracts. This allows the Group to limit its exposure to cost overruns on these projects. The Group has also agreed heads of terms for a refinancing through an extension of the Lender Override Agreement, which was signed on August 27, 2004 and ran until March 25, 2005. Under this agreement the refinancing will run until March 27, 2006 with the provision of a further GBP5.5 million of bonding facilities. Extremely good progress has been made elsewhere. A program to achieve annualized savings of GBP20 million has been implemented ahead of plan and in November further annualized savings of GBP30 million were identified and action to achieve these is underway. The new core businesses of rail, road and plant operations have been re-designed under a new organizational structure, and will be leaner and more cash generative than in the past. Despite this progress more work needs to be done in many areas to re- establish and enhance our reputation in our core markets. The actions described above, particularly the disposals, mean that the Group has been able to reduce indebtedness, and the business will shortly have greater working capital headroom. The disposal to date of 17 smaller businesses and property interests and the general simplification of the business mean that managers will be able to devote more time to current operations rather than to the essential restructuring. These disposals have also allowed the Group to exit from non- core activities and focus on its core businesses of rail, roads and plant operations, headquartered in York. Financial Results Group turnover in the first half of the financial year 2004/5 was GBP356 million (2003/4: GBP588 million). This fall was largely due to the exit from rail maintenance, which was completed on March 31, 2004, and from lower levels of activity in construction projects, from which Jarvis is withdrawing. Group operating loss was GBP44.5 million, (2003/4: profit GBP31.7 million) before operating exceptional items of GBP204.8 million and non-operating exceptional items of GBP35.3 million. After all exceptional items, and after including joint venture profits the operating loss before interest was GBP 266.5 million (2003/4: profit GBP47.7 million). The pre-exceptional operating loss of GBP44.5 million is after provision of some GBP31 million for aged debtor balances and GBP12 million for bid costs on PFI and UPP projects early in the half year. Excluding exceptional items the rail, Tube Lines and plant operations all generally performed in line with expectations, however as previously announced the roads business has suffered from unfavorable operating conditions. Rail Write-off In addition to the write-off reported in the Group's announcement of 8 November 2004 of GBP9 million, it is considered prudent to make a provision for aged debt of another GBP9 million in this area. Accommodation Services Losses Within accommodation services, operating exceptional items of GBP128 million largely comprised the construction losses and provisions in the first half of GBP86 million. Further the accounts to March 31, 2004 provided some GBP20 million against the Facilities Management (FM) risk margin in work in progress. As the Group has now decided to sell its FM business it is appropriate to write off the remaining balance of GBP23 million in these first-half results. Finally, the Group has not yet let its Smithfield building which is now surplus to requirements and has taken a further provision of GBP7 million (2003/4: GBP15 million) against any rental shortfall. We have also written off GBP7 million of office fit out costs. In addition operating losses attributable to the write off bid costs and aged debt amounted to GBP28 million. Professional Fees Associated with Restructuring The Group has incurred significant restructuring and refinancing costs of GBP32 million, which include professional fees relating to disposals and debt restructuring costs including bank arrangement fees, as part of the continuing restructuring of its activities. Goodwill As previously announced, a number of businesses have been or are in the process of being sold. The Group has therefore written off some GBP9 million of goodwill in respect of these disposals. In addition it is making a GBP63 million provision for its U.K. roads business to write off the goodwill attaching to this business completely, given its recent performance. Balance Sheet and Cash Flows Net debt, after taking account of charged cash of GBP53 million, was GBP242 million at the half year excluding the equity bridge loan of GBP45 million for Tube Lines. Operating cash outflow at GBP110 million (2003/4: Outflow GBP50 million) was lower than the operating loss of GBP249 million due to the high level of non-cash write-offs and provisions. In the period the Group has reduced debtors, stocks and work in progress by GBP114 million, and creditors have also decreased by GBP34 million. Dividend The Board will not recommend or pay an interim dividend. Board Changes The arrival of Alan Lovell as Group Chief Executive on 14 October has been vitally important to the Group. Alan has an outstanding record of achievement in his business career, and has undertaken restructuring and recovery work in the most exacting situations. I cannot underestimate the value of his contribution to the restoration of a viable business in Jarvis. The board appointed Andrew Lezala, who was originally employed to head our rail division as Chief Operating Officer. He has made an excellent start to the practical task of rebuilding our core businesses. The Board also confirmed Alistair Rae as Group Finance Director in recognition of his outstanding contribution since he was appointed acting Finance Director earlier in the year. Corporate Governance In the light of all that has transpired in the last year the Board has been concerned to re-examine and where necessary improve standards of corporate governance and has established a specific Corporate Governance Committee under the chairmanship of Chris Rew, who joined the board in May and who is also the Chairman of the Audit Committee. Safety and Environment Safety remains a paramount concern in the Group. The rail business has successfully achieved re-certification for both its Quality Management System (to BS EN ISO 9001:2000) and its Environment Management System (to BS EN ISO 14001:1996). Lloyd's Register Quality Assurance has given both approvals. Rail also gained agreement from the Health and Safety Executive for extensions to its Railway Safety Case for Fastline Ltd. Jarvis Construction U.K. has successfully achieved re- certification of its Environment Management System (to BS EN ISO 14001:1996) by BSI. Prismo Ltd. trading as Prismo Contracting Services, part of the roads business, gained certification for its Environmental Management System from Quality and Assurance Services Ltd. Operational Review Rail The period began with a successful handover of maintenance to Network Rail. To support Network Rail in its goal of reducing costs while intruding less on the operating timetable, Jarvis Rail continued to deliver technical innovations such as the Supertamper. Development of the Accutrack process - a turnkey track renewals system - significantly contributed to minimizing costs and possession times, maximizing output and guaranteeing safe, fault-free handbacks at full line speed. Key to the process is the Jarvis-developed Track Renewal System (TRS) and Rapid Ballast Excavator (RBE) machine. During the period we secured significant additional track renewals orders on the West Coast and East Coast Main Lines and in Scotland. A number of initiatives focused on internal processes and procedures. The period saw the publication of our Safety and Environmental Plan, which was the culmination of a review conducted by DuPont. Roads Prismo Contracting Services (PCS) has continued to maintain a very significant presence in its market. Much work has been undertaken at the manufacturing facility at Chorley, which is now fully operational. Improvements in machine reliability and other efficiencies have led to reduced labour requirements and a reduction in the number of shifts needed to meet demand. Small Plant Operations JFM continues to develop well as a business, winning new contracts. It was awarded contracts to supply vehicles to Network Rail to help meet the needs of the crews as maintenance work has been handed back. Currently 2,100 vehicles are on long-term hire to external customers. In keeping with the group's emphasis on good working practice JFM Hire has been awarded ISO 14001 accreditation for all its operational depots and activities. Accommodation Services The Accommodation Services division has faced difficulties across the range of its activities this year. Nevertheless, as outlined above the group has negotiated an effective cap on its liabilities in respect of its ongoing contracts. 5 of the 14 contracts will be let to a new contractor and plans are in place to close out the remaining 9. This will ensure that our public sector clients do ultimately receive the new facilities due to them under the contracts. A new organization structure has also been put in place to bring our Facilities Management operation together into a single unit prior to its planned disposal. Conclusion This has, as I indicated, been the most difficult period for everyone employed by the Jarvis group of companies at whatever level. We have been obliged by our urgent restructuring plan to say goodbye to many who have served the company conscientiously and well over many years. I thank them for their service and wish them well in the future. To those who remain, in whatever way they contribute to the company, I acknowledge their loyalty and perseverance, which has been exceptional and enormously gratifying. We will be doing everything in our power in the coming months to recreate a profitable efficient business, which is market leader in its chosen fields and of which we can all once again be proud. Steven Norris Chairman Full copy of the company's second-half interim results is available free of charge at http://bankrupt.com/misc/Jarvis_2h04.pdf. CONTACT: JARVIS PLC 24 Britton St. London EC1M 5UA Phone: +44-20-7017-8000 Fax: +44-20-7017-0083 Web site: http://www.jarvisplc.com MERLIN PR Paul Downes Phone: 020 7653 6620 Jonathan Haslam Phone: 020 7017 8147 MAKRA LIMITED: Authorities Ban Director for 4-1/2 Years ------------------------------------------------------- A director of a double-glazing business that failed with total debt estimated at around GBP59,000 has given an undertaking not to hold directorships or take any part in company management for four-and-a-half years. The undertaking by Raymond Charles Dancer, 46, of Dormywood, Ruislip, Middlesex, HA4, was given in respect of his conduct as director of Makra Limited, which carried out business from premises at Unit 18, Ryefield Crescent, Northwood Hills, Middlesex HA6 1LT. Acceptance of the undertaking on December 9, 2004 prevents Mr. Dancer 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. Makra was placed into creditors' voluntary liquidation on March 26, 2003 with estimated debt of GBP58,845 owed to creditors. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered unfit to be involved in the management of companies in the future. Matters of unfit conduct, not disputed by Mr. Dancer, were that: (a) He caused Makra to trade to the detriment of the Inland Revenue and HM Customs & Excise; and (b) In contravention of Section 216 of the Insolvency Act 1986 he traded by the name Systems Sealed, which name, without leave of the court, was prohibited to him. 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 MARIA MAGDALENA: Nursing Home in Administrative Receivership ------------------------------------------------------------ Citibank International Plc appointed D. F. Wilson and J. N. R. Pitts (Office Holder Nos 703, 7851) joint administrative receivers for nursing home Maria Magdalena (Medicare) Limited (Reg No 02599283). The application was filed Dec. 15, 2004. 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 MERCANTILE LEASING: Appoints Deloitte & Touche Liquidator --------------------------------------------------------- Name of companies: Mercantile Leasing Company (No.24) Limited Mercantile Leasing Company (No.60) Limited Mercantile Leasing Company (No.84) Limited Mercantile Leasing Company (No.93) Limited Mercantile Leasing Company (No.96) Limited Mercantile Leasing Company (No.99) Limited Mercantile Leasing Company (No.108) Limited Mercantile Leasing Company (No.138) Limited Mercantile Leasing Company (No.141) Limited At the general meeting of the members of these companies, the special and ordinary resolutions to wind up the companies were passed. J. R. D. Smith and N. J. Dargan of Deloitte & Touche LLP, Athene Place, PO Box 810, 66 Shoe Lane, London EC4A 3WA have been appointed joint liquidators of said companies. 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 MYTRAVEL GROUP: Bondholders, Creditors Okay Debt-to-equity Swap --------------------------------------------------------------- A last-minute maneuver sealed the GBP800 million debt-for-equity swap of MyTravel Group Plc last week, reports The Financial Times. Bondholders, who had been poised to mount a legal challenge to secure a better deal, called off their threat after agreeing to an 8%-to-88% split of the 96% equity that creditors will end up having after the swap. They protested the previous offer of 2% because it allegedly leaves them "with little say in the company's affairs and reduce their power in future restructuring," the paper said. The agreement was sealed Thursday, when bondholders approved the restructuring plan at an extraordinary general meeting. Following the swap, existing shareholders will own just 4% of the company, but MyTravel's debt will drop to about GBP140 million from GBP1.3 billion. The company recently reported a loss of GBP190 million, down from GBP911 million a year ago. * * * Formerly named Airtours, MyTravel is U.K.'s No.2 tour operator (behind Thomson Travel, now owned by Germany's Preussag), according to http://www.hoovers.com. It has about 1,000 travel outlets all over Europe, North America, and the U.K., where it offers travel and tour services. It owns 80 brands, including FTi, Spies, Sunquest, and Tradewinds. The company also owns four airlines, four cruise ships, and about 130 hotels. European car rentals and reservation services are two of its other interests. The U.K. accounts for more than 50% of sales. CONTACT: MYTRAVEL GROUP PLC Parkway One Parkway Business Centre 300 Princess Rd. Manchester M14 7QU Phone: +44-161-23-20-066 Fax: +44-161-23-26-524 Web site: http://www.mytravelgroup.com MYTRAVEL GROUP: To Release 2004 Results February ------------------------------------------------ MyTravel Group Plc announced on December 29, 2004 that its results for the 13 months to October 31, 2004 have now been audited and will be included in the Listing Particulars to be issued shortly for the admission of new shares in connection with the company's restructuring. The results are as stated in the preliminary announcement of December 15, 2004. The auditors' report is unqualified. The company expects to publish its annual report and accounts in early February. CONTACT: MYTRAVEL GROUP PLC Parkway One Parkway Business Centre 300 Princess Rd. Manchester M14 7QU Phone: +44-161-23-20-066 Fax: +44-161-23-26-524 Web site: http://www.mytravelgroup.com BRUNSWICK GROUP LLP William Cullum Sophie Fitton Phone: 020 7404 5959 NEXTGENTEL LIMITED: Members Final Meeting Set February ------------------------------------------------------ The final meeting of the members of Nextgentel Limited will be on Feb. 18, 2005 commencing at 11:00 a.m. It will be held at the offices of Smith & Williamson Limited, 1 Riding House Street, London W1A 3AS. 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 Smith & Williamson Limited, 1 Riding House Street, London W1A 3AS not later than 12:00 noon, Feb. 17, 2005. CONTACT: SMITH AND WILLIAMSON LIMITED No. 1 Riding House Street, London W1A 3AS Web site: http://www.smith.williamson.co.uk REDEVELOPED FISH: Sets Creditors Meeting January 17 --------------------------------------------------- The creditors of Redeveloped Fish Products Limited will meet on Jan. 17, 2005 commencing at 11:00 a.m. It will be held at The Hotel Elizabeth Grimsby, Little Coates Road, Grimsby, South Humberside DN34 4LX. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to RSM Robson Rhodes LLP, St George House, 40 Great George Street, Leeds LS1 3DQ not later than 12:00 noon, Jan. 14, 2005. CONTACT: ROBSON RHODES L.L.P. St. George House 40 Great George Street Leeds LS1 3 DQ Phone: 0113 225 4000 Fax: 0113 225 4002 Web site: http://www.robsonrhodes.co.uk RENTON DEVELOPMENTS: Members Final Meeting Set ---------------------------------------------- The final meeting of the members of Renton Developments Limited will be on Jan. 21, 2005 commencing at 3:00 p.m. It will be held at the offices of Poppleton & Appleby, 35 Ludgate Hill, Birmingham B3 1EH. 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: POPPLETON & APPLEBY 35 Ludgate Hill, Birmingham B3 1EH Phone: 0121 200 2962 Web site: http://www.pandabirmingham.co.uk SANDOWN CONSULTANCY: Insolvency Service Disqualifies Director ------------------------------------------------------------- The director of a business analysis and design consultancy, which failed with total debt estimated at GBP44,000, has given an undertaking not to hold directorships or take any part in company management for three and a half years. The undertaking by Basil Torczynowycz, 39, of South Godstone, Surrey was given in respect of his conduct as a director of Sandown Consultancy Services Limited which traded from premises at Chapel Cottage, 4 The Grange, Eastbourne Road, South Godstone, RH9 8JQ. Acceptance of the undertaking on December 2, 2004 prevents Mr. Torczynowycz 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 three and a half years. Sandown Consultancy Services Limited was placed into compulsory liquidation by Order of the High Court of Justice on June 18, 2003. The company has an estimated total deficiency of GBP44,000. 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 Matter of unfit conduct, not disputed by Basil Torczynowycz, were that he caused: (a) Sandown to trade to the detriment of the Inland Revenue from February 2000 by making inadequate payments towards PAYE and National Insurance contributions for the years 1999/00, 2000/01 and 2001/02, and Corporation Tax due for the years ended March 31, 1999, March 31, 2000 and March 31, 2001; (b) GBP63,251 to be due to the Inland Revenue at the date of liquidation; and (c) the late submission of statutory returns in respect of PAYE, NIC and Corporation Tax for the years 1999/00, 2000/01 and 2001/02. 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 THE BIKE: Joint Administrators from Wilson Pitts Move in -------------------------------------------------------- D. F. Wilson and J. N. R. Pitts (IP Nos 703, 7851) have been appointed joint administrators for The Bike People Limited. The appointment was made Dec. 20, 2004. The company sells, repairs motorcycles and parts. Its registered office is located at Wilson Pitts, Glendevon House, Hawthorn Park, Coal Road, Leeds LS14 1PQ. 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 TOMEN EUROPE: Members to Meet Later this Month ---------------------------------------------- The final meeting of the members of Tomen Europe Limited will be on Jan. 25, 2005 commencing at 11:00 a.m. It will be held at the offices of PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwc.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 2005. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$575 per half-year, delivered via e-mail. 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