TCREUR_Public/050128.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Friday, January 28, 2005, Vol. 6, No. 20

                            Headlines

A U S T R I A

TVK AUSTRIA: Succumbs to Liquidation


G E R M A N Y

APOGENIX BIOTECHNOLOGY: Court to Verify Claims April 22
BRANDENBURGISCHES VIERTEL: Sets Creditors Meeting February 15
DRESDNER BANK: Transfers 7.3% Munich Re Stake to Allianz
GELIN GRUNDSTUCKSVERWALTUNG: Under Bankruptcy Administration
GROTELOH VERWALTUNGSGESELLSCHAFT: Declares Bankruptcy

GROTEX HOLZWERKSTOFFE: Creditors Claims Due Next Month
HTS BAUSTOFFHANDEL: Interim Administrator Takes over Operations
INTELCO MARKETING: Essen Court Appoints Insolvency Manager
KAISER NAPOLEON: Administrator Calls First Creditors Meeting
LSA MARKETING: Gives Creditors Until February 15 to File Claims

MG TECHNOLOGIES: To Appeal Adverse Ruling on Dynamit Sale
S + C GASTRONOMIE: Court Accepts Bankruptcy Application
SENIORENHEIM LINDENWEG: Administrator's Report Out March
STADTEVERLAG MBR: Heidelberg Court Stays All Pending Lawsuits


I T A L Y

IMPREGILO SPA: Subsidiary Wins US$390 Mln Contract in UAE
IMPREGILO SPA: Key Shareholder Promises to Pour in More Cash
IMPREGILO SPA: Needs EUR550 Mln to Refinance Bonds Due May, June
PARMALAT FINANZIARIA: Bondholders Support Independent Board


R U S S I A

AGRO-STROY-MECHANIZATION: Proofs of Claim Deadline January 29
BEARING PLANT: Sverdlovsk Court Appoints Insolvency Manager
CB RFG-BANK: Declared Insolvent
DIRECT-BANK: Claims Filing Period Ends Weekend
EKOM: Moscow Court Hires A. Podzhio as Insolvency Manager

LENINOGORSKIY BUILDING: Under Bankruptcy Supervision
PASSENGER TRANSPORTATION: Public Auction Set this Week
PLANETA-BANK: Gives Creditors Until Weekend to File Claims
SHABERDINSKOYE: Udmurtiya Court Appoints Insolvency Manager
YUKOS OIL: Tomskneft Managers Face Tax-evasion Charges

YUKOS OIL: Hails Kremlin's Plans to Sell Other Units
YUKOS OIL: Regains Access to Bank Accounts
ZASHITNIK OTECHESTVA: Proofs of Claim Deadline Expires this Week


U K R A I N E

HLIBOROB: Court Accepts Bankruptcy Application
KARPATPRODUKT: Court Brings in Temporary Insolvency Manager
PA-RI: Sumi Court Opens Bankruptcy Proceedings
SAHNIVSKA: Declared Insolvent
SELEKSPLEMKONECENTR: Bankruptcy Supervision Begins

TEKSTIL: Undergoes Bankruptcy Supervision Procedure
TEMP: Temporary Insolvency Manager Takes over Operations
ZAPORIZHBUDDETAL: Urges Creditors to File Claims


U N I T E D   K I N G D O M

1031 PROPERTIES: Members Pass Winding-up Resolution
1041 COMMERCIAL: Hires Valentine & Co. as Liquidator
1086 GALASHIELS: Members Decide to Wind up Firm
1108 PARTNERS: Liquidator from Valentine & Co. Moves in
3T TELECOM: Hires Joint Administrators from Menzies

ABBEY NATIONAL: Court Adjourns Botin's Trial Until Next Week
ALLDERS PLC: Owner Puts Firm Under Administration
ALLDERS PLC: Company Profile
ANVIL RESIDENCES: Hires BDO Stoy Hayward as Liquidator
CATHEDRAL (KINGSTON): Shareholders Opt for Liquidation

EPIC BRAND: Board Proposes Appointment of KPMG as Liquidator
EURO DISNEY: Capital Hike Prospectus Now Available at U.K.L.A.
FANFARE CARPETS: Appoints Begbies Traynor Administrator
FREDIC LIMITED: Meeting of Creditors Set Next Week
KARD KINGDOM: Calls in Joint Administrators from Bridgestones

MARCONI CORPORATION: Extends E-Plus Contract by Another 2 Years
M W M REALISATIONS: Names PricewaterhouseCoopers Administrator
PHONETICS (UK): Joint Liquidators from Stoy Hayward Enter Firm
PORTWOOD COLOUR: Creditors Meeting Set February 10
PREMIER MORTGAGE: Hires Administrators from Fortune Peat

PRICECARVER (DISCOUNT STORES): Names Bridgestones Administrator
PRICOA FUNDING: Hires PricewaterhouseCoopers as Liquidator
RHOBOCRYL LIMITED: Falls into Liquidator
RYAN SCAFFOLDING: Calls in Liquidator from Begbies Traynor
SAYCHESTER LIMITED: Baker Tilly Hired to Dissolve Company

THE COMPANY: Hires Joint Administrators from Stoy Hayward
THORNDYKE LIMITED: Joint Administrators from PwC Move in
UK COAL: Flood Shuts Ellington Mine; Causes GBP11.0 Mln Damage
UNITED BISCUITS: Books GBP1.36 Bln Total Sales in FY2004
VOSS NET: Confirms Plan to Purchase Mining Asset

WHYTE AND MACKAY: CEO Offers to Buy 30% Stake in Distiller
WOODKIRK STONE: Appoints Administrator from Horwath Clark
X02 LIMITED: Members Pass Winding-up Resolutions
YEO FASHIONS: Members Decide to Wind up Company
YORKSHIRE PUB: Joint Administrators from Begbies Traynor Move in


                            *********


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


TVK AUSTRIA: Succumbs to Liquidation
------------------------------------
Tiszai Vegyi Kombinat Rt informs its shareholders and capital
market participants that the liquidation process of TVK's
consolidated subsidiary, TVK Austria Kunststoff, has started.

CONTACT:  VERTRIEBS GMBH
          A-2700 Wiener-Neustadt
          Molkereistrasse 4., Austria

          TISZAI VEGYI KOMBINAT RT
          H-3581 Tiszaujvaros
          TVK Industrial Site, Gyari Street
          Hungary
          Contact:
          Arpad Olvaso, CEO


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


APOGENIX BIOTECHNOLOGY: Court to Verify Claims April 22
-------------------------------------------------------
The district court of Heidelberg opened bankruptcy proceedings
against Apogenix Biotechnology AG on Jan. 1, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 23, 2005
to register their claims with court-appointed provisional
administrator Marc Schmidt-Thieme.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 25, 2005, 11:00 a.m. at the district court
of Heidelberg, Kurfurstenanlage, 69115 Heidelberg at which time
the administrator will present his first report of the
insolvency proceedings.  The court will verify the claims set
out in the administrator's report on April 22, 2005, 9:30 a.m.
while creditors may constitute a creditors committee and or opt
to appoint a new insolvency manager.

CONTACT:  APOGENIX BIOTECHNOLOGY AG
          Im Neuenheimer Feld 581/519
          69120 Heidelberg
          Contact:
          Dr. Henning Walczak, Manager

          Marc Schmidt-Thieme, Insolvency manager
          Soldnerstr. 2
          68219 Mannheim
          Phone: 0621/877080
          Fax: 0621/8770820


BRANDENBURGISCHES VIERTEL: Sets Creditors Meeting February 15
-------------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Brandenburgisches Viertel Grundstucks KG HNW
Duske zweite Grundstucks GmbH & Co. on Jan. 1, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until April 1, 2005
to register their claims with court-appointed provisional
administrator Peter Leonhardt.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 15, 2005, 9:45 a.m. at the district court of
Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin at which time
the administrator will present his first report of the
insolvency proceedings.  The court will verify the claims set
out in the administrator's report on June 7, 2005, 9:30 a.m.
while creditors may constitute a creditors committee and or opt
to appoint a new insolvency manager.

CONTACT:  BRANDENBURGISCHES VIERTEL GRUNDSTUCKS KG HNW DUSKE
          ZWEITE GRUNDSTUCKS GMBH & CO.
          Neue Kreisstrasse 23
          14109 Berlin

          RA Peter Leonhardt, Insolvency Manager
          Kurfurstendamm 212
          10719 Berlin


DRESDNER BANK: Transfers 7.3% Munich Re Stake to Allianz
--------------------------------------------------------
In an "All-in-one" package, Allianz AG is launching three
capital market transactions totaling approximately EUR4 billion.
Allianz is thereby taking advantage of  currently attractive
conditions in the capital markets.  As a result of these
transactions, Allianz both reduces its exposure to equities as
well as overall group leverage.  In addition, Dresdner Bank will
further reduce its non-strategic asset portfolio.  The
transaction will further strengthen Allianz's capital position
on a group basis.

Reduction of Equity Gearing

In order to further reduce its exposure to equities, Allianz is
issuing a three-year index linked note of up to EUR1.2 billion
effective Wednesday.  The redemption value of this security,
BITES [Basket Index Tracking Equity-linked Securities], is
linked to the performance of the DAX.  Allianz can choose to
redeem the notes in shares of BMW, Munich Re or Siemens.  As a
result of this transaction, Allianz will further reduce its
equity gearing.

De-leveraging of Group

Allianz will refinance part of this year's EUR2.7 billion
maturing bonds through the issuance of a subordinated bond in
the amount of approximately EUR1 billion.  The bond will be in
perpetual form with Allianz having the right to call the bond
after 12 years.  The exact amount, coupon as well as yield will
be determined at the end of the book-building period.  Attached
to the bond will be 11.2 million warrants on Allianz shares with
a maturity of three years.  Following the issuance of this bond,
the warrants will be detached and placed in firm hands, thereby
avoiding any material impact on the Allianz share price.  The
bond ex-warrants will be placed with institutional investors.

Reduction of Non-strategic Assets by Dresdner Bank

Dresdner Bank will accomplish a further step in its strategy of
reducing its non-strategic equity holdings.  Dresdner Bank will
sell 17.2 million Allianz shares, with a current market value of
approximately EUR1.5 billion.  The investment bank in charge
will place these shares in the market in the form of a Mandatory
Exchangeable.  In addition, Dresdner Bank will transfer to
Allianz its stake of 7.3% in Munich Re, equivalent to
approximately EUR1.5 billion, via an intra-group transaction.

These assessments are, as always, subject to the disclaimer
provided below.

Allianz AG
Koniginstr. 28
80802 Munchen
Deutschland

                            *   *   *

THIS PRESS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE
UNITED STATES.  THE OFFER AND SALE OF SECURITIES REFERRED TO IN
THIS PRESS RELEASE HAVE NOT BEEN, NOR WILL THEY BE, REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE
"SECURITIES ACT"), AND THE SECURITIES MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT.  ANY PUBLIC OFFERING OF
SECURITIES TO BE MADE IN THE UNITED STATES WOULD HAVE TO BE MADE
BY MEANS OF A PROSPECTUS THAT WOULD CONTAIN DETAILED INFORMATION
ABOUT THE ISSUER OF THE SECURITIES AND ITS MANAGEMENT, AS WELL
AS FINANCIAL STATEMENTS.  ANY PERSONS READING THIS ANNOUNCEMENT
SHOULD INFORM THEMSELVES OF AND OBSERVE ANY SUCH RESTRICTIONS.


GELIN GRUNDSTUCKSVERWALTUNG: Under Bankruptcy Administration
------------------------------------------------------------
The district court of Heidelberg opened bankruptcy proceedings
against Gelin Grundstucksverwaltung GmbH Immobilien KG on Jan.
1, 2005.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
Feb. 28, 2005 to register their claims with court-appointed
provisional administrator Christopher Seagon.

Creditors and other interested parties are encouraged to attend
the meeting on March 4, 2005, 11:30 a.m. at the district court
of Heidelberg, Kurfurstenanlage, 69115 Heidelberg at which time
the administrator will present his first report of the
insolvency proceedings.  The court will verify the claims set
out in the administrator's report on April 22, 2005, 9:00 a.m.
while creditors may constitute a creditors committee and or opt
to appoint a new insolvency manager.

CONTACT:  GELIN GRUNDSTUCKSVERWALTUNG GMBH IMMOBILIEN KG
          Kurpfalz-Centrum 1
          69181 Leimen
          Contact:
          Dr. Gerhard Lingg, Manager

          Christopher Seagon, Insolvency Manager
          Blumenstr. 17
          69115 Heidelberg
          Phone: 06221/91180
          Fax: 06221/23128


GROTELOH VERWALTUNGSGESELLSCHAFT: Declares Bankruptcy
-----------------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against Groteloh Verwaltungsgesellschaft mbH on Jan. 3, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 21, 2005
to register their claims with court-appointed provisional
administrator Cornelia Monert.

Creditors and other interested parties are encouraged to attend
the meeting on March 14, 2005, 9:45 a.m. at the district court
of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld 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:  GROTELOH VERWALTUNGSGESELLSCHAFT MBH
          Rembrandtstr. 9
          32257 Bunde
          Contact:
          Frank Rehmeier, Manager

          Cornelia Monert, Insolvency Manager
          Lise-Meitner-Str. 13
          33605 Bielefeld


GROTEX HOLZWERKSTOFFE: Creditors Claims Due Next Month
------------------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against Grotex Holzwerkstoffe GmbH & Co. OHG on Jan. 3, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 21, 2005
to register their claims with court-appointed provisional
administrator Cornelia Monert.

Creditors and other interested parties are encouraged to attend
the meeting on March 14, 2005, 9:00 a.m. at the district court
of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld 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:  GROTEX HOLZWERKSTOFFE GMBH & CO. OHG
          Rembrandstr. 9
          32257 Bunde
          Roman Groteloh, Manager

          Cornelia Monert, Insolvency Manager
          Lise-Meitner-Str. 13
          33605 Bielefeld


HTS BAUSTOFFHANDEL: Interim Administrator Takes over Operations
---------------------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against HTS Baustoffhandel GmbH Leipzig on Jan. 4, 2005.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until Feb. 18, 2005
to register their claims with court-appointed provisional
administrator Dr. Jurgen Wallner.

Creditors and other interested parties are encouraged to attend
the meeting on March 22, 2005, 2:00 p.m. at the district court
of Leipzig, Saal 101 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:  HTS BAUSTOFFHANDEL GMBH LEIPZIG
          Stohrerstr. 17
          04247 Leipzig
          Contact:
          Rene Gottschalk, Manager

          Dr. Jurgen Wallner, Insolvency Manager
          Karl-Heine-Strasse 25b
          04229 Leipzig


INTELCO MARKETING: Essen Court Appoints Insolvency Manager
----------------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Intelco Marketing GmbH on Dec. 30, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Feb. 9, 2005 to
register their claims with court-appointed provisional
administrator Dr. Jens M. Schmittmann.

Creditors and other interested parties are encouraged to attend
the meeting on Feb. 23, 2005, 1:30 p.m. at the district court of
Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen at which time
the administrator will present his first report of the
insolvency proceedings.  The court will also verify the claims
set out in the administrator's report during this meeting, while
creditors may constitute a creditors committee and or opt to
appoint a new insolvency manager.

CONTACT:  INTELCO MARKETING GMBH
          Kreuzeskirchstr. 1
          45127 Essen

          Uwe Rechella, Manager
          Oderstr. 111 B
          47445 Moers

          Heiko Beck, Manager
          Jagerstr. 77
          47166 Duisburg

          Dr. Jens M. Schmittmann, Insolvency Manager
          Zweigertstrasse 28-30
          45130 Essen
          Phone: 0201 438740


KAISER NAPOLEON: Administrator Calls First Creditors Meeting
------------------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against Kaiser Napoleon GmbH on Jan. 3, 2005.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until Feb. 8, 2005 to register their
claims with court-appointed provisional administrator Michael
Hawelka.

Creditors and other interested parties are encouraged to attend
the meeting on March 8, 2005, 2:15 p.m. at the district court of
Leipzig, Saal 101 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:  KAISER NAPOLEON GMBH
          Schulstrasse 42 a
          04668 Grossbardau
          Contact:
          Matthias Fratzscher, Manager

          Michael Hawelka, Insolvency Manager
          Nonnenstrasse 37
          04229 Leipzig


LSA MARKETING: Gives Creditors Until February 15 to File Claims
---------------------------------------------------------------
The district court of Heidelberg opened bankruptcy proceedings
against LSA Life Science Alliance Marketing & Sales GmbH on Jan.
1, 2005.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
Feb. 15, 2005 to register their claims with court-appointed
provisional administrator Markus Ernestus.

Creditors and other interested parties are encouraged to attend
the meeting on March 18, 2005, 10:00 a.m. at the district court
of Heidelberg, Kurfurstenanlage, 69115 Heidelberg 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:  LSA LIFE SCIENCE ALLIANCE MARKETING & SALES GMBH
          Turmgasse 34
          69181 Leimen
          Contact:
          Axel Kasperavicius, Manager

          Markus Ernestus, Insolvency Manager
          O 3, 11+12
          68161 Mannheim
          Phone: 0621/16680
          Fax: 0621/166811


MG TECHNOLOGIES: To Appeal Adverse Ruling on Dynamit Sale
---------------------------------------------------------
The district court in Frankfurt am Main has allowed an action
brought by a minority shareholder to set aside resolutions
adopted at Mg Technologies AG's Annual Shareholders' Meeting on
June 21, 2004 in connection with the disposal of the Dynamit
Nobel Group.  This ruling is not final.

Mg technologies intends to appeal against this ruling and
believes that its appeal will be successful.  This ruling does
not affect the validity of mg's disposal of Dynamit Nobel.  The
disposal remains legally effective and incontestable
irrespective of the outcome of the appeal.

CONTACT:  MG TECHNOLOGIES AG
          Bockenheimer Landstrasse 73-77
          60325 Frankfurt, Germany
          Phone: +49-69-7-11-99-0
          Fax: +49-69-7-11-99-100
          Web site: http://www.mg-technologies.com


S + C GASTRONOMIE: Court Accepts Bankruptcy Application
-------------------------------------------------------
The district court of Darmstadt opened bankruptcy proceedings
against S + C Gastronomie GmbH on Dec. 29, 2004.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Feb. 9, 2005 to
register their claims with court-appointed provisional
administrator Sylvia Hofmann.

Creditors and other interested parties are encouraged to attend
the meeting on March 2, 2005, 9:00 a.m. at the district court of
Darmstadt Gebaude E, Landwehrstrasse 48, 64293 Darmstadt at
which time the administrator will present his first report of
the insolvency proceedings.  The court will also verify the
claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  S + C GASTRONOMIE GMBH
          Heinrichstrasse 68
          64283 Darmstadt

          Suleeporn Loose, Manager
          Karlsbader Strasse 25
          64283 Darmstadt

          Sylvia Hofmann, Insolvency Manager
          Birkenweg 24
          64295 Darmstadt
          Phone: 06151/66729-0
          Fax: 06151/66729-20


SENIORENHEIM LINDENWEG: Administrator's Report Out March
--------------------------------------------------------
The district court of Heidelberg opened bankruptcy proceedings
against Seniorenheim Lindenweg Gesellschaft Mit Beschrankter
Haftung on Jan. 1, 2005.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until Feb. 10, 2005 to register their claims with court-
appointed provisional administrator Dr. Thunnesen.

Creditors and other interested parties are encouraged to attend
the meeting on March 11, 2005, 9:00 a.m. at the district court
of Heidelberg, Kurfurstenanlage, 69115 Heidelberg 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:  SENIORENHEIM LINDENWEG GESELLSCHAFT MIT BESCHRANKTER
          HAFTUNG
          Lindenweg 11
          69126 Heidelberg
          Susanne Irene Reins, Manager

          Dr. Thunnesen, Insolvency Manager
          Im Breitspiel 21
          69126 Heidelberg
          Phone: 06221/1850126
          Fax: 06221/1850103


STADTEVERLAG MBR: Heidelberg Court Stays All Pending Lawsuits
-------------------------------------------------------------
The district court of Heidelberg opened bankruptcy proceedings
against Stadteverlag MBR GmbH on Jan. 1, 2005.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until Feb. 10, 2005 to
register their claims with court-appointed provisional
administrator Willi Knoll.

Creditors and other interested parties are encouraged to attend
the meeting on March 4, 2005, 9:00 a.m. at the district court of
Heidelberg, Kurfurstenanlage, 69115 Heidelberg 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:  STADTEVERLAG MBR GMBH
          Im Sand 5
          69115 Heidelberg
          Contact:
          Willi Knoll, Manager

          Dr. Ulf Martini, Insolvency Manager
          E 3, 16
          68159 Mannheim
          Phone: 0621/40171500
          Fax: 0621/401715012


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


IMPREGILO SPA: Subsidiary Wins US$390 Mln Contract in UAE
---------------------------------------------------------
Fisia Italimpianti, the leading constructor of environmental and
desalination plants owned by Impregilo S.p.A. (51%) and Equinox
I.C. S.p.A. (49%), has been awarded a new US$390 million order
to build a seawater desalination plant in Abu Dhabi.

The plant will consist of four units, the largest in the world,
each one with a daily production capacity of 80 million liters
of drinking water, for a total daily capacity of approximately
320 million liters (or more than 5 bottles of water per day for
every Italian citizen).

Fisia Italimpianti will build the plant at Al Taweelah, on the
Persian Gulf coast, at a site 50 km. from Abu Dhabi, the capital
of the United Arab Emirates (U.A.E.). Construction will be
funded on a project financing basis closed by Japan's Marubeni
Corporation together with other local and international
investors.  The desalination plant will be served by a 1,000 MW
power station, which is to be built by another constructor.

Construction work at Fisia Italiampianti is moving ahead
rapidly, with projects delivered in record time.  In the last
few months of 2004, Fisia Italimpianti completed work on the
Shuweihat desalination plant in Abu Dhabi and the Ras Laffan
facility in Qatar (for a global value of more than EUR800
million).

The new order confirms Fisia Italimpianti's world leadership in
desalination, where it deploys advanced plant technology.

Fisia Italimpianti, with its subsidiary Fisia Babcock
Environment GmbH (leader in smoke treatment and waste conversion
technologies), builds environmental plants, specializing in
desalination, treatment of water and smoke and conversion of
solid waste to energy.  It also provides environmental services
including collection and disposal of municipal, hospital and
industrial solid waste.

Fisia Italimpianti has been active in the Persian Gulf for about
30 years, and has established a solid reputation among local
customers: it has built many of the region's key facilities,
including Shuweihat, Mirfa, Al Taweelah and Umm Al Nar in Abu
Dhabi, Al Hidd, Sitra II and III in Bahrain, Jebel Ali G, K1,
K2, L1 in Dubai, and Ras Laffan in Qatar.

Sesto San Giovanni, 19 January 2005

CONTACT:  IMPREGILO S.p.A.
          Viale Italia 1,
          Sesto S. Giovanni
          20099 Milan
          Phone: +39-02-244-22111
          Fax: +39-02-244-22293
          Web site: http://www.impregilo.it


IMPREGILO SPA: Key Shareholder Promises to Pour in More Cash
------------------------------------------------------------
Holding group Generale Mobiliare Interessenze Azionarie (Gemina)
would set aside around EUR250 million to support troubled
construction group Impregilo, Agencia Giornalistica Italia says.

Gemina said Wednesday the amount included a EUR100 million cash
injection in July 2004 that Impregilo's creditors had requested.
Gemina still considers its stake in Impregilo strategic and
downplays reports it is planning to sell the interest despite
receiving an approach from a consortium of local investors.

The consortium, comprised of investment bank Efibanca, motorway
operator Gavio and engineering group Condotte, is reportedly
bidding for a 20% to 25% stake in Impregilo.  Sources close to
Gavio confirmed the motorway operator is interested in acquiring
a stake in Impregilo, but has yet to review Efibanca's offer.
Condotte vice-chairman Duccio Astaldi said his group is eager to
review Efibanca's proposal, but has yet to receive a formal
offer.

CONTACT:  IMPREGILO S.p.A.
          Viale Italia 1,
          Sesto S. Giovanni
          20099 Milan
          Phone: +39-02-244-22111
          Fax: +39-02-244-22293
          Web site: http://www.impregilo.it

          GENERALE MOBILIARE INTERESSENZE AZIONARIE S.p.A.
          Via Turati n. 16/18
          Milan
          Phone: +39-02-444-23121
          Fax: +39-02-444-23120
          E-mail: investor.relator@gemina.it
          Web site: http://www.gemina.it


IMPREGILO SPA: Needs EUR550 Mln to Refinance Bonds Due May, June
----------------------------------------------------------------
Impregilo S.p.A. is meeting with creditors this week amidst
reports of mounting takeover interest in the construction group.
The company said last week talks were continuing with banks
regarding its financial reorganization.

Impregilo is planning to raise EUR800 million to repay EUR550
million in bonds due in May and June, and maintain its
operations.  Roberto Poll and Paolo Colombo, Impregilo's legal
advisors, are reportedly planning to launch a EUR400 million
capital increase and acquire loans from banks.

Il Sole 24 Ore recently reported about two parties eyeing the
firm: a group of French investors, and a consortium of
investment bank comprising of Efibanca, motorway operator Gavio
and engineering group Condotte.  The latter wants to take a 20-
25% stake in the company.   Both groups have offered to inject
capital into Impregilo and allow Gemina, the construction
group's largest shareholder, to retain a minority stake in the
company, according to the report.

CONTACT:  IMPREGILO S.p.A.
          V.le Italia, 1
          20099 SESTO S.GIOVANNI (MI) ITALY
          E-mail: investor.relations@impregilo.it
          Web site: http://www.impregilo.it


PARMALAT FINANZIARIA: Bondholders Support Independent Board
-----------------------------------------------------------
The Ad Hoc Committee of Parmalat Private and Public Noteholders
(the Bondholder Committee), which includes more than 110
institutional investors, hedge funds and other money managers
from around the world, notes recent press reports concerning the
possibility that one or more of Parmalat's financial creditors
might seek to form a shareholder alliance for the purpose of
discouraging Parmalat's future board of directors from pursuing
litigation efforts commenced during Parmalat's Extraordinary
Administration proceedings.

According to the press reports, the stated reason for this is
that "the new company should focus on operations and not
litigation" and that "the litigation will distract the new board
from running the business."

The Bondholder Committee agrees that the primary focus of the
new company should be on operations and the Committee strongly
supports the election of an independent board of the highest
integrity and with impeccable business credentials.

However, the Bondholder Committee does not agree that
continuation of litigation efforts will serve as a material
distraction to the new board.  Further, while the Bondholder
Committee does not have a view as to the merits of the specific
lawsuits that have been filed, it is indisputable that a massive
fraud has been committed to the detriment of Parmalat's
creditors, including Parmalat's Bondholders who are estimated to
comprise approximately 70% of the new company's shareholders.
The Bondholder Committee believes that it will be an important
duty of the new board, just as it has been an important duty of
Parmalat's Extraordinary Administrator, to seek appropriate
redress for the fraud.

CONTACT:  BINGHAM MCCUTCHEN LLP
          Evan Flaschen
          Phone: 860-240-2723
          E-mail: evan.flaschen@bingham.com


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


AGRO-STROY-MECHANIZATION: Proofs of Claim Deadline January 29
-------------------------------------------------------------
The Arbitration Court of Kalmykiya republic commenced bankruptcy
proceedings against Agro-Stroy-Mechanization after finding the
open joint stock company insolvent.  The case is docketed as
A22/1154-04/4-77.  Mr. I. Sandzhiev has been appointed
insolvency manager.  Creditors have until Jan. 29, 2005 to
submit their proofs of claim to 358000, Russia, Kalmykiya
republic, Elista, 3rd location, 18, Room 1.

CONTACT:  Mr. I. Sandzhiev
          Insolvency Manager
          358000, Russia, Kalmykiya republic,
          Elista, 3rd location, 18, Room 1
          Phone: (84722) 5-58-77


BEARING PLANT: Sverdlovsk Court Appoints Insolvency Manager
-----------------------------------------------------------
The Arbitration Court of Sverdlovsk region commenced bankruptcy
proceedings against Bearing Plant #6 after finding the limited
liability company insolvent.  The case is docketed as A60-
27660/2003-S3.  Ms. L. Bogacheva has been appointed insolvency
manager.  Creditors may submit their proofs of claim to 620144,
Russia, Ekaterinburg, Post User Box 165.

CONTACT:  BEARING PLANT #6
          620057, Russia, Ekaterinburg,
          Shartashskaya Str. 13

          Ms. L. Bogacheva
          Insolvency Manager
          620144, Russia, Ekaterinburg,
          Post User Box 165


CB RFG-BANK: Declared Insolvent
-------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against CB RFG-Bank after finding the open joint
stock company insolvent.  The case is docketed as A40-63952/04-
95-59B.  Creditors may submit their proofs of claim to 109382,
Russia, Moscow, Lyublinskaya Str. 127/1.

CONTACT:  CB RFG-BANK
          109382, Russia, Moscow,
          Lyublinskaya Str. 127/1


DIRECT-BANK: Claims Filing Period Ends Weekend
----------------------------------------------
The Arbitration Court of Moscow commenced bankruptcy proceedings
against Direct-Bank after finding the commercial bank insolvent.
The case is docketed as A40-42412/04-86-27B.  Mr. S. Stupnikov
has been appointed insolvency manager.  Creditors have until
Jan. 29, 2005 to submit their proofs of claim to 115035, Russia,
Moscow, Balchug Str. 2, Room 860.

CONTACT:  DIRECT-BANK
          Russia, Moscow,
          Barklaya Str. 13

          Mr. S. Stupnikov
          Insolvency Manager
          115035, Russia, Moscow,
          Balchug Str. 2, Room 860
          Phone: 747-11-94


EKOM: Moscow Court Hires A. Podzhio as Insolvency Manager
---------------------------------------------------------
The Arbitration Court of Moscow commenced bankruptcy proceedings
against Ekom after finding the industrial energy-saving company
insolvent.  The case is docketed as A40-31097/04-123-20B.  Ms.
A. Podzhio has been appointed insolvency manager.  Creditors may
submit their proofs of claim to 105187, Russia, Moscow,
Moskovskiy Pr. 18, Building 1.

CONTACT:  EKOM
          121151, Russia, Moscow,
          Kutuzovskiy Pr. 23, Building 1

          Ms. A. Podzhio
          Insolvency Manager
          105187, Russia, Moscow,
          Moskovskiy Pr. 18, Building 1


LENINOGORSKIY BUILDING: Under Bankruptcy Supervision
----------------------------------------------------
The Arbitration Court of Tatarstan republic has commenced
bankruptcy supervision procedure on open joint stock company
Leninogorskiy Building Trust.  The case is docketed as A65-
25189/2004-SG4-21.  Mr. V. Ishkov has been appointed temporary
insolvency manager.

Creditors have until Jan. 30, 2005 to submit their proofs of
claim to 420126, Russia, Tatarstan republic, Kazan, Post User
Box 238.  A hearing will take place on April 28, 2005.

CONTACT:  LENINOGORSKIY BUILDING TRUST
          Russia, Tatarstan republic,
          Leninogorsk, Agadullina Str. 9

          Mr. V. Ishkov
          Temporary Insolvency Manager
          420126, Russia, Tatarstan republic,
          Kazan, Post User Box 238
          Phone/Fax: (8432) 10-97-60


PASSENGER TRANSPORTATION: Public Auction Set this Week
------------------------------------------------------
The open joint stock company Passenger Transportation will sell
its property on Jan. 31, 2005, 10:00 a.m.  The public auction
will take place at Russia, Kirov region, Kirov, Severnoye
Koltso, 16A.  Up for sale are four immovable properties.
Starting price: RUB20,000,000 inclusive of VAT.

The list of documentary requirements is available at Russia,
Kirov region, Kirov, Severnoye Koltso, 16A.  To participate,
bidders must deposit an amount equivalent to 10% of the starting
price.

CONTACT:  PASSENGER TRANSPORTATION
          Russia, Kirov region, Kirov,
          Severnoye Koltso, 16A
          Phone: (8332) 36-48-85, 36-48-86


PLANETA-BANK: Gives Creditors Until Weekend to File Claims
----------------------------------------------------------
The Arbitration Court of Moscow commenced bankruptcy proceedings
against Planeta-Bank after finding the cooperative bank
insolvent.  The case is docketed as A40-40079/04-78-27B.  Mr. S.
Stupnikov has been appointed insolvency manager.  Creditors have
until Jan. 29, 2005 to submit their proofs of claim to 115035,
Russia, Moscow, Balchug Str. 2, Room 860.

CONTACT:  PLANETA-BANK
          Russia, Moscow,
          B. Devyatkinskiy Per. 4

          Mr. S. Stupnikov
          Insolvency Manager
          115035, Russia, Moscow,
          Balchug Str. 2, Room 860
          Phone: 747-11-94


SHABERDINSKOYE: Udmurtiya Court Appoints Insolvency Manager
-----------------------------------------------------------
The Arbitration Court of Udmurtiya republic commenced bankruptcy
proceedings against Shaberdinskoye after finding the open joint
stock company insolvent.  The case is docketed as A71-37/2004-
G21.  Mr. S. Zaytsev has been appointed insolvency manager.
Creditors may submit their proofs of claim to 427015, Russia,
Udmurtiya republic, Zavyalovskiy region, Shaberdino, Sovetskaya
Str. 26.

CONTACT:  SHABERDINSKOYE
          427015, Russia, Udmurtiya republic,
          Zavyalovskiy region, Shaberdino, Sovetskaya Str. 26

          Mr. S. Zaytsev
          Insolvency Manager
          427015, Russia, Udmurtiya republic,
          Zavyalovskiy region, Shaberdino, Sovetskaya Str. 26


YUKOS OIL: Tomskneft Managers Face Tax-evasion Charges
------------------------------------------------------
Russian prosecutors on Wednesday opened a criminal case against
the managers of Tomskneft, one of Yukos Oil's remaining major
subsidiaries after the sale of Yuganskneftegaz.

An interior ministry spokesman told news agency Interfax the
lawsuit is for large-scale tax evasion committed by the company.

Tomskneft, which produces 357,000 barrels a day, is next in line
for disposal, together with another unit, Samaraneftegaz, to pay
the remaining tax bill not covered by the sale of Yugansk in
December.

The assault on Yukos, which is Russia's second-largest oil
company, is seen as a Kremlin-led campaign to stunt its
founder's political ambitions.  Mikhail Khodorkovsky is now in
jail for charges of tax evasion and fraud.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

          Press Service:
          Alexander Shadrin
          Phone: +7 095 785-08-55
          E-mail: pr@yukos.ru

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


YUKOS OIL: Hails Kremlin's Plans to Sell Other Units
----------------------------------------------------
Yukos Oil on Monday warned the government could breach
international laws if it insists on selling Samaraneftegaz, a
major production asset.

Rumors circulate that the unit, which produces 252,000 barrels
of oil a day, may be sold to pay off Yukos' remaining tax
liability.  The government in December sold Yukos' main
production unit, Yuganskneftegaz, to cover US$24.5 billion in
tax arrears.  At the time of the auction, Alexander Buxman, head
of the Justice Ministry's Moscow department said Yukos still has
at least RUB83.5 billion (US$3 billion) in outstanding taxes.

Samaraneftegaz is valued at US$2.6 billion (GBP1.4 billion) by
Moscow investment bank, Brunswick UBS.  The valuation is based
on the US$9.3 billion sale price of Yuganskneftegaz.  Company
insiders say the sale could be sealed "closer to spring, in
March, April or May," according to The Times.

Analysts were not surprised by the government's plans.
According to them, Yukos' depressed share value suggests further
asset sales.  A sale of Samaraneftegaz is likely to trigger the
disposal of Tomskneft as well as other refinery assets, leaving
Yukos with only its domestic petrol station network.

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

          International Information Department
          Hugo Erikssen
          Phone: + 7 095 540-63-13
          E-mail: inter@yukos.ru


YUKOS OIL: Regains Access to Bank Accounts
------------------------------------------
Authorities on Monday unlocked the accounts of Tomskneft after
the Yukos Oil subsidiary settled its tax arrears worth US$110
million, Kommersant reports.

The head of Tomskneft VNK press-service, Leonid Vleskov, said
the firm has fully paid the 2002 tax bill that the tax ministry
served the company in December.  According to the report, it is
still too early to say whether the crisis in the company is
over.  Tomskneft has not received any new claims, but tax agents
are still examining reports for 2000-2003.  And yet, again,
previous Yukos reports say Tomskneft has been charged RUB3.67
billion in back taxes for the period.

Tomskneft had other accounts frozen in relation to an
investigation of an alleged theft by the firm's management.  It
is not yet clear whether the arrest order is still in place.
There is also no word yet on the investigation on a suspected
RUB1.05 billion tax evasion committed by the firm in 1999-2000.

Meanwhile, speculations regarding a potential sale of the
company have been reawakened.  The vice-Governor of the Tomsk
Region Vyacheslav Nagovitsin said in October 2004 Tomskneft
could get a different owner in the beginning of 2005.  Sibneft
is recently tipped as an interested party.

A sale, though, may not be easy as -- according to Kommersant --
Tomskneft shares, arrested in the fall of 2004, are still
frozen.  The shares could only be unblocked if Yukos fully pays
its tax arrears.

CONTACT:  YUKOS OIL
          Web site: http://www.yukos.com/
          International Information Department
          Hugo Erikssen
          Phone: +7 095 540 6313
          E-mail: inter@yukos.ru

          Press Service:
          Alexander Shadrin
          Phone: +7 095 785-08-55
          E-mail: pr@yukos.ru

          Investor Relations Contact
          Alexander Gladyshev
          Phone: +7095 788 00 33
          E-mail: investors@yukos.ru


ZASHITNIK OTECHESTVA: Proofs of Claim Deadline Expires this Week
----------------------------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Zashitnik Otechestva after finding the
commercial bank insolvent.  The case is docketed as A40-
38958/04-124-22B.  Ms. A. Kosheleva has been appointed
insolvency manager.  Creditors have until Jan. 29, 2005 to
submit their proofs of claim to 119991, Russia, Moscow,
Leninskiy Pr. 1, Building 2, Room 1918.

CONTACT:  ZASHITNIK OTECHESTVA
          105554, Russia, Moscow,
          Nizhnyaya Pervomayskaya Str. 79

          Ms. A. Kosheleva
          Insolvency Manager
          119991, Russia, Moscow,
          Leninskiy Pr. 1, Building 2, Room 1918
          Phone: 772-73-80


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


HLIBOROB: Court Accepts Bankruptcy Application
----------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
supervision procedure on LLC Hliborob (code EDRPOU 30612147).
The case is docketed as 5/534-04.  Mr. Leshenko A. (License
Number AA 484190) has been appointed temporary insolvency
manager.

CONTACT:  HLIBOROB
          Ukraine, Vinnitsya region,
          Gajsinskij district, Kuzmintsi

          ECONOMIC COURT OF VINNITSYA REGION
          Ukraine, Vinnitsya region,
          Hmelnitske Shose, 7


KARPATPRODUKT: Court Brings in Temporary Insolvency Manager
-----------------------------------------------------------
The Economic Court of Ivano-Frankivsk region commenced
bankruptcy supervision procedure on LLC Karpatprodukt (code
EDRPOU 25070438) on November 16, 2004.  The case is docketed as
B-7/144.  Arbitral manager Mr. L. Slobodyan (License Number AA
047736) has been appointed temporary insolvency manager.  The
company holds account number 2600301542451 at Ukreksimbank, MFO
336688.

Creditors may submit their proofs of claim to:

(a) KARPATPRODUKT
    76000, Ukraine, Ivano-Frankivsk region,
    V. Internatsionalistiv Str. 6

(b) Mr. L. Slobodyan
    Temporary Insolvency Manager
    76000, Ukraine, Ivano-Frankivsk region,
    Vovchinetska Str. 189/57

(c) ECONOMIC COURT OF IVANO-FRANKIVSK REGION
    76000, Ukraine, Ivano-Frankivsk region,
    Shevchenko Str. 16a


PA-RI: Sumi Court Opens Bankruptcy Proceedings
----------------------------------------------
The Economic Court of Sumi region commenced bankruptcy
proceedings against Pa-Ri (code EDRPOU 21115322) on October 25,
2004 after finding the limited liability company insolvent.  The
case is docketed as 7/53-04.  Arbitral manager Mr. Vadim Zakorko
(License Number AA 719836) has been appointed
liquidator/insolvency manager.

CONTACT:  PA-RI
          42340, Ukraine, Sumi region,
          Krolevets, K. Marks Str. 15

          Mr. Vadim Zakorko
          Liquidator/Insolvency Manager
          40030, Ukraine, Sumi region,
          Proletarska Str. 69, 2nd floor

          ECONOMIC COURT OF SUMI REGION
          40477, Ukraine, Sumi region,
          Ribalko Str. 2


SAHNIVSKA: Declared Insolvent
-----------------------------
The Economic Court of Sumi region commenced bankruptcy
proceedings against Sahnivska (code EDRPOU 30490389) on November
29, 2004 after finding the limited liability company insolvent.
The case is docketed as 7/93-04.  Arbitral manager Mr. Vadim
Zakorko (License Number AA 719836) has been appointed
liquidator/insolvency manager.

CONTACT:  SAHNIVSKA
          42340, Ukraine, Sumi region,
          Konotop district, Sahni, Chapayev Str.

          Mr. Vadim Zakorko
          Liquidator/Insolvency Manager
          40030, Ukraine, Sumi region,
          Proletarska Str. 69, 2nd floor

          ECONOMIC COURT OF SUMI REGION
          40477, Ukraine, Sumi region,
          Ribalko Str. 2


SELEKSPLEMKONECENTR: Bankruptcy Supervision Begins
--------------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
supervision procedure on OJSC Seleksplemkonecentr (code EDRPOU
00701470).  The case is docketed as 6/344-8/164.  Arbitral
manager Mr. Yevgen Dzhala (License Number AA 783051) has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) SELEKSPLEMKONECENTR
    Ukraine, Lviv region,
    Mostiskij district, Sudova Vishnya,
    Derzhplemstanciya Str. 1

(b) Mr. Yevgen Dzhala
    Temporary Insolvency Manager
    Ukraine, Lviv region, Nizhinskij Str. 16/41

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


TEKSTIL: Undergoes Bankruptcy Supervision Procedure
---------------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
supervision procedure on Tekstil (code EDRPOU 22411927).  The
case is docketed as 6/365-8/177.  Arbitral manager Mr. Vitalij
Vinnikov (License Number AA 779141) has been appointed temporary
insolvency manager.  The company holds account number
2600700011319 at JSCB Ukrsocbank, Lviv regional branch, MFO
325019.

Creditors may submit their proofs of claim to:

(a) TEKSTIL
    Ukraine, Lviv region,
    Linkoln Str. 29-29 a

(b) Mr. Vitalij Vinnikov
    Temporary Insolvency Manager
    81100, Ukraine, Lviv region,
    Pustomiti, Sportivna Str. 2/9

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


TEMP: Temporary Insolvency Manager Takes over Operations
--------------------------------------------------------
The Economic Court of Cherkassy region commenced bankruptcy
supervision procedure on OJSC Temp (code EDRPOU 14308948).  The
case is docketed as 01/3365.  Mr. Volodimir Rekun (License
Number AA 140456) has been appointed temporary insolvency
manager.  The company holds account number 26006005446004 at
OJSC MKB, Cherkassy branch, MFO 354295.

Creditors may submit their proofs of claim to:

(a) TEMP
    18022, Ukraine, Cherkassy region,
    Gorkij Str. 27

(b) Mr. Volodimir Rekun
    Temporary Insolvency Manager
    Ukraine, Cherkassy region,
    Ilyina Str. 330/16

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


ZAPORIZHBUDDETAL: Urges Creditors to File Claims
------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on OJSC Zaporizhbuddetal (code EDRPOU
20486128).  The case is docketed as 19/68.  Arbitral manager Mr.
Dmitro Gerashenko (License Number AA 250439) has been appointed
temporary insolvency manager.  The company holds account number
26003301155575 at Prominvestbank, Zaporizhya branch, MFO 313355.

Creditors may submit their proofs of claim to:

(a) Mr. Dmitro Gerashenko
    Temporary Insolvency Manager
    69037, Ukraine, Zaporizhya region,
    Rekordna Str. 20
    Phone: (0612) 220-91-36

(b) ECONOMIC COURT OF ZAPORIZHYA REGION
    69001, Ukraine, Zaporizhya region,
    Shaumyana Str. 4


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


1031 PROPERTIES: Members Pass Winding-up Resolution
---------------------------------------------------
At the extraordinary general meeting of 1031 Properties Online
Limited on Jan. 14, 2005 held at 4 Dancastle Court, 14 Arcadia
Avenue, London N3 2HS, the subjoined special and ordinary
resolutions to wind up the company were passed.  Robert
Valentine of 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS
has been appointed liquidator of the company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


1041 COMMERCIAL: Hires Valentine & Co. as Liquidator
----------------------------------------------------
At the extraordinary general meeting of 1041 Commercial Limited
on Jan. 14, 2005 held at 4 Dancastle Court, 14 Arcadia Avenue,
London N3 2HS, the subjoined special and ordinary resolutions to
wind up the company were passed.  Robert Valentine of 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS has been
appointed liquidator of the company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


1086 GALASHIELS: Members Decide to Wind up Firm
-----------------------------------------------
At the extraordinary general meeting of 1086 Galashiels Limited
on Jan. 14, 2005 held at 4 Dancastle Court, 14 Arcadia Avenue,
London N3 2HS, the subjoined special and ordinary resolutions to
wind up the company were passed.  Robert Valentine of 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS has been
appointed liquidator of the company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


1108 PARTNERS: Liquidator from Valentine & Co. Moves in
-------------------------------------------------------
At the extraordinary general meeting of 1108 Partners Two
Limited on Jan. 14, 2005 held at 4 Dancastle Court, 14 Arcadia
Avenue, London N3 2HS, the subjoined special and ordinary
resolutions to wind up the company were passed.  Robert
Valentine of 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS
has been appointed liquidator of the company.

CONTACT:  VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


3T TELECOM: Hires Joint Administrators from Menzies
---------------------------------------------------
Andrew Gordon Stoneman and Simon James Underwood (IP Nos 8728,
2603) have been appointed joint administrators for 3T Telecom
Limited.  The appointment was made Jan. 17, 2005.  The company's
registered office is located at Lamont House, Stranmillis
Embankment, Belfast BT9 5FL.

CONTACT:  MENZIES CORPORATE RESTRUCTURING
          17-19 Foley Street
          London W1W 6DW
          Phone: 020 7291 9750
          Fax: 020 7291 9777
          E-mail: mcr@menzies.co.uk
          Web site: http://www.menzies.co.uk


ABBEY NATIONAL: Court Adjourns Botin's Trial Until Next Week
------------------------------------------------------------
The hearing on the case against Grupo Santander Chairman Emilio
Botin, who is accused of misusing shareholders fund, will resume
Monday.

According to The Telegraph, the judge hearing the case on
Wednesday suspended the case to give the prosecution more time
to study new evidence.  The defense presented stacks of new
documents at a hearing on Wednesday at the National Court in
Madrid.

Mr. Botin, whose firm bought Abbey National three months ago, is
facing charges of pension provision irregularities brought by
Santander Central Hispano shareholders Francisco Franco Otegui
and Rafael Perez Escolar.  The investors alleged Mr. Botin had
illegally siphoned off funds by awarding pensions to former
directors Jose Maria Amusategui and Jose Angel Corcostegui.

In a controversial deal, the two, who were supposed to share his
powers in the board after the merger of Banco Santander with
Banco Central Hispano in 1999, left the board two years after.
They took with them pensions worth EUR164 million (GBP114
million).  Santander maintained the payments were in accordance
with its bylaws and approved by its board of directors.

Mr. Botin's conviction is feared to trigger a succession crisis
in the bank and further destabilize Abbey National.

CONTACT:  ABBEY NATIONAL
          Media enquiries:
          Christina Mills
          Abbey Media Relations
          Phone: 020 7756 4212
          Matt Young
          Abbey Media Relations
          Phone: 020 7756 4232


ALLDERS PLC: Owner Puts Firm Under Administration
-------------------------------------------------
Minerva plc confirms that as of Jan. 26, Allders Department
Stores Limited and Allders Stores Limited have been placed into
administration by their directors.

Minerva is disappointed by the failure of the sales process and
the resulting administration as it has worked very hard in its
attempt to secure the future of Allders as a going concern.
Minerva will be cooperating with the administrators in all
respects.

Minerva has been advised that it has no liability for the
pension fund deficit and that any action that may be taken
against it by the new pension regulator is unlikely to succeed.
At no time has any director or employee of Minerva had any
involvement with the pension scheme, which has at all times been
administered by independent trustees.  Since Minerva acquired
its shareholding in Scarlett Retail Group Limited (the holding
company of the Allders group of companies) the deficit in the
pension fund has been significantly reduced.

CONTACT:  BRUNSWICK GROUP
          Susan Gilchrist
          Michaela Hopkins
          Phone: +44 (0) 20 7404 5959


ALLDERS PLC: Company Profile
----------------------------
NAME: Allders Plc

COMPANY LOCATION: 131 Park St.
                  Center Tower
                  London W1K 7BB, United Kingdom

PHONE: +44-20 7855 3800

FAX: +44-20 7855 3809

WEB SITE: http://www.allders.com

TYPE OF BUSINESS: Considered the fourth largest department store
group in the U.K., Allders sells variety of clothes, furniture,
appliances and other household goods through 45 chains
strategically located across the country.  The retailer also
sells famous labels like Sony, Adidas, Philips, Fiorelli, Act 3,
Anagram and Hydrogen.

EXECUTIVES: Terry Green   -  Chief Executive Officer
            Phil Cox      -  Commercial Director Finance
            Harvey Ainley -  Director

ANNUAL SALES: EUR559.9 million (2002)

ANNUAL INCOME: EUR6.7 million (2002)

DEBT: GBP120 million

EMPLOYEES: 8,000

THE TROUBLE: Scarlett Retail, a holding group comprised of
Minerva, Lehman Brothers, and senior managers Phil Cox and Terry
Green, bought Allders as a going concern two years ago in a bid
to rescue the ailing retailer.  Scarlett Retail's executives
employed several turnaround tactics to revive Allders, but were
overwhelmed by the retailers' GBP120 million debt.  Scarlett
Retail placed Allders on sale in December 2004.  The sale
process was disrupted after Lehman Brothers sold its GBP90
million debt in Scarlett Retail to Hilco.  This raised
speculations that turnaround specialist Hilco would place
Allders into administration, as it did with men's wear chain
Ciro Citterio after buying it in September 2003.  Minerva Plc
placed Allders into administration on January 26, 2005 and
appointed risk consultancy group Kroll Inc. administrators.

SHAREHOLDERS:

       Scarlett Retail (Holding company):

       Minerva Plc                 60%
       Lehman Brothers Inc.        20%
       Terry Green and Phil Cox    20%

ADMINISTRATOR: KROLL INC.
               10 Fleet Place
               London EC4M 7RB
               Phone: 44 (0) 207 029 5000
               Fax: 44 (0) 207 029 5001
               Web site: http://www.krollworldwide.com


ANVIL RESIDENCES: Hires BDO Stoy Hayward as Liquidator
------------------------------------------------------
At the extraordinary general meeting of Anvil Residences Limited
on Dec. 30, 2004 held at Westbury House, Anchor Boulevard
Crossways, Dartford, Kent DA2 6QH, the subjoined special
resolution to wind up the company was passed.  David John Hill
of Ballantine House, 168 West George Street, Glasgow G2 2PT has
been appointed liquidator of the company.

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


CATHEDRAL (KINGSTON): Shareholders Opt for Liquidation
------------------------------------------------------
At the extraordinary general meeting of Cathedral (Kingston)
Limited on Dec. 30, 2004 held at Westbury House, Anchor
Boulevard, Crossways, Dartford, Kent DA2 6QH, the subjoined
special resolution to wind up the company was passed.  David
John Hill of Ballantine House, 168 West George Street, Glasgow
G2 2PT has been appointed liquidator of the company.

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


EPIC BRAND: Board Proposes Appointment of KPMG as Liquidator
------------------------------------------------------------
The Board of EPIC Brand Investments PLC (EBI) schedules the
Extraordinary General Meeting on 17 February 2005, 12 noon.  At
this meeting the resolution to liquidate the Company will be
considered.  The Board recommends that Shareholders vote for the
resolution, and encourages Shareholders to return their Proxy
Forms as soon as possible to the address shown thereon.

The notice convening the EGM was posted Tuesday, January 25,
2005 together with a circular to Shareholders.  This statement
is extracted from that circular without material adjustment.

Introduction

It was announced on 11 January 2005 that your Board intends to
put to Shareholders proposals for the winding-up of your
Company.  Under the Proposals, which are subject to Shareholder
approval, the Company will be wound up and Shareholders will
receive one or more distributions of cash from the Liquidator.

This circular explains the Proposals and the actions, which are
required in order for them to be implemented and convenes the
Extraordinary General Meeting for their approval.

Background

On 30 September 2004 the Board of EBI announced that it had
received a takeover approach from a subsidiary of the Company's
co-investment partner, Lornamead.  On 19 November 2004 the Board
announced that these takeover discussions had been terminated
but that discussions would continue regarding a possible sale of
assets.  On 29 December 2004 the Board announced that it had
agreed in principle to dispose of the Company's investment
portfolio to Lornamead and on 11 January 2005 completion of the
disposal took place.

Under the terms agreed, EBI has received an initial
consideration of GBP13.6 million in cash, the repayment in full
of a short-term loan of GBP351,200 to CD Brand Holdings Limited
and the payment of all interest accrued at that date on the
shareholder, mezzanine and other loans made by EBI to the
investment portfolio companies.  In addition, deferred
consideration may become payable depending upon the future
performance of the portfolio companies: should the combined
sales of the portfolio companies in the year to 31 March 2006
exceed GBP52.141 million, Lornamead is required to pay to EBI a
sum equal to 20% of the excess above GBP52.141 million as
deferred consideration.  If applicable, such a payment is
expected to be made on or by 31 August 2006.

Following this disposal, the Company is essentially a cash shell
and the Board is therefore seeking to wind up the Company.

The Proposals

The Proposals appoint Mr. Michael Fayle of KPMG LLC as the
Liquidator and direct the Liquidator to distribute the Company's
cash assets to Shareholders.  It is envisaged that the
Liquidator will retain a sum of cash as a liquidation pool to
meet the requirements of the Company to pay creditors, including
the Liquidator.

Beyond the retention of this pool the Liquidator intends to
distribute the cash assets of the Company in March 2005, after
the necessary advertisement for creditors' claims.  It is
anticipated that the first distribution will be not less than
94p per Share.

Once any deferred consideration that becomes due has been
received, any net sum available for distribution to
Shareholders, including that part of the liquidation pool not
used up or still required, will be distributed to Shareholders
by the Liquidator.

On appointment of the Liquidator, the Directors will cease to
exercise any legal powers over the Company.  In addition, twenty
business days after the appointment of the Liquidator, the
London Stock Exchange will cancel the Company's AIM admission.

Extraordinary General Meeting

The Extraordinary General Meeting will take place at noon on 17
February 2005 at St James's Chambers, Athol Street, Douglas,
Isle of Man.  The meeting will consider the resolution set out
at the end of this document.

The resolution is a special resolution.  To be passed, it
therefore requires the approval of 75% of those Shareholders
present and voting.

The resolution, if passed, will authorize the winding-up of the
Company; will appoint the Liquidator and fix the basis for his
remuneration; and will direct the Liquidator to distribute those
surplus assets of the Company which are available for
distribution.

Recommendation

The Directors, who have been advised by ING Corporate Finance,
believe that the Proposals set out in this document are in the
best interests of the Company and of Shareholders as a whole and
recommend Shareholders to vote in favor of the resolution to be
proposed at the Extraordinary General Meeting.  In providing its
advice, ING Corporate Finance has taken into account the
commercial assessments of the Directors and the Investment
Adviser.

CONTACT:  EPIC SPECIALIST INVESTMENTS LIMITED
          Phone: 020 7984 8649
          Giles Brand

          ING CORPORATE FINANCE
          Phone: 020 7767 1000
          Nicholas Gold
          William Marle


EURO DISNEY: Capital Hike Prospectus Now Available at U.K.L.A.
--------------------------------------------------------------
As announced on January 21, 2005, Euro Disney S.C.A., operator
of Disneyland Resort Paris, has launched the capital increase
approved by its shareholders at the annual general meeting of
December 17, 2004 in a total amount of EUR253,347,188 (issue
premium included).  The capital increase will be implemented
through the distribution to existing shareholders of
preferential subscription rights.  The subscription price has
been set at EUR0.09 per share.

In connection with such distribution in the United Kingdom, the
United Kingdom Listing Authority has mutually recognized a
prospectus pursuant to, and in accordance with, the provisions
for mutual recognition set out in Chapter 17 of the listing
rules of the United Kingdom Listing Authority (the 'U.K.
Prospectus').

Copies of the U.K. Prospectus have been submitted to the
Document Viewing Facility of the United Kingdom Listing
Authority and will shortly be available to the public for
viewing at: Document Viewing Facility, Financial Services
Authority, 25 The North Colonnade, London E14 5HS (Phone: + 44
20 7066 1000).

Euro Disney S.C.A. and its subsidiaries operate the Disneyland
Resort Paris which includes: Disneyland Park, Walt Disney
Studios Park, seven themed hotels with approximately 5,800 rooms
(excluding 2,033 additional third-party rooms located on the
site), two convention centres, Disney village (a dining,
shopping and entertainment centre) and a 27-hole golf facility.
The Group's operating activities also include the management and
development of the 2,000-hectare site, which currently includes
approximately 1,000 hectares of undeveloped land.  Euro Disney
S.C.A.'s shares trade in Paris (SRD), London and Brussels.

                            *   *   *

This press release is not an offer to sell or a solicitation to
buy any securities in the rights offering and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale is unlawful.  The rights
offering will be made only by means of an offering document
complying with the applicable securities laws of the
jurisdiction or jurisdictions in which such rights offering
shall be made.  The securities offered in the rights offering
have not and will not be registered under the United States
Securities Act of 1933 and may not be offered or sold in the
United States or in any other jurisdiction absent registration,
an applicable exemption from registration requirements or
qualification under applicable securities laws of such
jurisdiction.

CONTACT:  EURO DISNEY S.C.A.
          Corporate Communication
          Pieter Boterman
          Phone: +331 64 74 59 50
          Fax: +331 64 74 59 69
          E-mail: pieter.boterman@disney.com

          Investor Relations
          Fiona Lord Duarte
          Phone: +331 64 74 58 55
          Fax: +331 64 74 56 36
          E-mail: fiona.lord.duarte@disney.com


FANFARE CARPETS: Appoints Begbies Traynor Administrator
-------------------------------------------------------
David Moore and Donald Bailey (IP Nos 007510, 006739) have been
appointed joint administrators for Fanfare Carpets Limited.  The
appointment was made Jan. 17, 2005.  The company sells carpet.
Its registered office is located at No 1 Old Hall Street,
Liverpool L3 9HF.

CONTACT:  BEGBIES TRAYNOR
          No 1 Old Hall Street,
          Liverpool L3 9HF
          Phone: 0151 227 4010
          Fax:   0151 227 4009
          Web site: http://www.begbies.com


FREDIC LIMITED: Meeting of Creditors Set Next Week
--------------------------------------------------
The creditors of Fredic Limited will meet on Jan. 31, 2005 at
2:30 p.m.  It will be held at the offices of Smith & Williamson
Limited, Prospect House, 2 Athenaeum Road, London N20 9YU.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to Smith & Williamson Limited, Prospect House, 2
Athenaeum Road, London N20 9YU not later than 12:00 noon, Jan.
28, 2005.

CONTACT:  SMITH & WILLIAMSON LIMITED
          Prospect House, 2 Athenaeum Road,
          London N20 9YU


KARD KINGDOM: Calls in Joint Administrators from Bridgestones
-------------------------------------------------------------
Jonathan Lord and Robert Cooksey (IP Nos 9040, 9041) have been
appointed joint administrators for Kard Kingdom Limited.  The
appointment was made Jan. 7, 2005.  The company sells greeting
cards in bulk.

CONTACT:  BRIDGESTONES
          125-127 Union Street,
          Oldham, Lancashire OL1 1TE


MARCONI CORPORATION: Extends E-Plus Contract by Another 2 Years
---------------------------------------------------------------
Marconi Corporation plc announced on Jan. 25 that it has renewed
a frame contract with mobile network provider E-Plus Mobilfunk
GmbH & Co. KG for the supply of Plesiochronous Digital Hierarchy
(PDH) wireless technology until 2007.  The agreement includes
delivery, deployment and implementation of PDH technology and a
wide range of after-sales support such as a hotline, helpdesk
and training as well as swap and repair services.

Marconi and E-Plus have worked together continuously since 1994.
During this period, Marconi has deployed and commissioned about
7,000 radio links for E-Plus including PDH wireless technology
for bandwidths between 2 and 34 Mbit/s and PDH Cross Connects
enabling signal interconnection.  E-Plus' transport network uses
Marconi high-capacity Synchronous Digital Hierarchy (SDH)
wireless technology supporting bandwidths up to 155 Mbit/s
including respective SDH Multiplex equipment for data switching
and routing.  These network elements are part of Marconi's
comprehensive transport solution portfolio for Mobile
Operators.

"The renewal of our contract with Germany's third-largest mobile
network provider proves that Marconi offers advanced wireless
technology solutions that are backed up by world-class customer
support," says Dr. Stefan Kindt, managing director of Marconi
Communications GmbH in Backnang, Germany.  "As a turnkey
supplier, we cover the entire technology and services range from
systems delivery and installation to integration into existing
network structures."

About E-Plus

With 9.5 million subscribers E-Plus is Germany's third largest
mobile operator.  E-Plus sets its accent on profitable growth
and aligns its activities on bottom-line relevant activities.
Therefore the company concentrates on high-demand target groups
among business and private customers.  E-Plus is one of
Germany's front-runners in mobile multimedia and offers i-
mode(TM) a versatile mobile entertainment service for mobile
phones.  E-Plus is one of the companies building and operating a
modern UMTS (Universal Mobile Telecommunications System) network
in Germany.

About Marconi Corporation plc

Marconi Corporation plc (London: MONI and NASDAQ: MRCIY) is a
global telecommunications equipment, services and solutions
company.  The company's core business is the provision of
innovative and reliable optical networks, broadband routing and
switching and broadband access technologies and services.  The
company's customer base includes many of the world's largest
telecommunications operators.

CONTACT:  MARCONI CORPORATION
          Press Inquiries:
          Margarete Senn
          Phone: +49 7191 13 3811
          E-mail: margarete.senn@marconi.com

          Patrick Murphy
          Phone: +44 115 906 4151
          E-mail: patrick.murphy@marconi.com

          Investor Inquiries:
          Karen Keyes
          Phone: + 44 207 306 1345
          E-mail: karen.keyes@marconi.com

          Industry Analyst Inquiries:
          Skip MacAskill
          Phone: +44 2476 56 3705
          E-mail: skip.macaskill@marconi.com

          Web site: http://www.marconi.com


M W M REALISATIONS: Names PricewaterhouseCoopers Administrator
--------------------------------------------------------------
Mark E. T. Bowen and Robert J. Hunt (IP Nos 8711, 8597) have
been appointed joint administrators for ground works contractor
M W M Realisations Limited (formerly known as Midland Water
Management Limited).  The appointment was made Jan. 14, 2005.
The company's registered office is located at 37 The Oaks,
Merridale Road, Wolverhampton, West Midlands WV3 9RX.

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


PHONETICS (UK): Joint Liquidators from Stoy Hayward Enter Firm
--------------------------------------------------------------
Geoffrey Stuart Kinlan and Anthony John Sanderson (IP Nos
8268/01, 4750) have been appointed joint administrators for call
center Phonetics (UK) Ltd.  The appointment was made Dec. 21,
2004.

CONTACT:  BDO STOY HAYWARD LLP
          Prospect Place, 85 Great North Road,
          Hatfield, Hertfordshire AL9 5BS
          Phone: 01707 255888
          Fax:   01707 255890
          E-mail: hatfield@bdo.co.uk
          Web site: http://www.bdo.co.uk


PORTWOOD COLOUR: Creditors Meeting Set February 10
--------------------------------------------------
The creditors of Portwood Colour Co. Limited will meet on Feb.
10, 2005 at 11:00 a.m.  It will be held at DTE House, Hollins
Mount, Bury BL9 8AT.  Creditors who want to be represented at
the meeting may appoint proxies.  Proxy forms must be submitted
together with written debt claims to DTE Leonard Curtis, DTE
House, Hollins Mount, Bury BL9 8AT not later than 12 noon, Feb.
9, 2005.

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


PREMIER MORTGAGE: Hires Administrators from Fortune Peat
--------------------------------------------------------
Michael Robert Fortune and Nicholas James Peat (IP Nos 8818,
8831) have been appointed joint administrators for Premier
Mortgage Management Limited.  The appointment was made Jan. 14,
2005.  The company handles other financial intermediation. Its
registered office is located at 24 Cornwall Road, Dorchester,
Dorset DT1 1RX.

CONTACT:  FORTUNE PEAT
          Abacus House
          Acorn Business Park
          Tower Park, Poole, Dorset
          Phone: 01202 380300
          Fax:   01202 380400
          E-mail: mikefortune@fortunepeat.co.uk
          Web site: http://www.fortunepeat.co.uk


PRICECARVER (DISCOUNT STORES): Names Bridgestones Administrator
---------------------------------------------------------------
Jonathan Lord and Robert Cooksey (IP Nos 9040, 9041) have been
appointed joint administrators for Pricecarver (Discount Stores)
Ltd.  The appointment was made Jan. 14, 2005.

CONTACT:  BRIDGESTONES
          125-127 Union Street,
          Oldham, Lancashire OL1 1TE


PRICOA FUNDING: Hires PricewaterhouseCoopers as Liquidator
----------------------------------------------------------
Name of companies:
Pricoa Funding Limited
Pricoa Investment Company

At the extraordinary general meeting of these companies on Dec.
22, 2004, the special and ordinary resolutions to wind up said
companies were passed.  Richard Setchim and Jonathan Sisson of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT have
been appointed joint liquidators of these companies.

CONTACT:  PRICEWATERHOUSECOOPERS LLP (LONDON)
          Plumtree Court
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax: [44] (20) 7822 4652
          Web site: http://www.pwcglobal.com


RHOBOCRYL LIMITED: Falls into Liquidator
----------------------------------------
At the extraordinary general meeting of Rhobocryl Limited
(formerly Chemacryl Limited) on Jan. 10, 2005 held at Numerica,
4th Floor, Southfield House, 11 Liverpool Gardens, Worthing,
West Sussex BN11 1RY, the special, ordinary and extraordinary
resolutions to wind up the company were passed.  Colin Ian
Vickers and Sarah Nancollas of Numerica, 4th Floor, Southfield
House, 11 Liverpool Gardens, Worthing, West Sussex BN11 1RY have
been appointed joint liquidators of the company.

CONTACT:  NUMERICA
          4th Floor, Southfield House,
          11 Liverpool Gardens, Worthing, West Sussex
          Phone: 01903 222500
          Fax: 01903 207009
          Web site: http://www.numerica.biz


RYAN SCAFFOLDING: Calls in Liquidator from Begbies Traynor
----------------------------------------------------------
At the extraordinary general meeting of Ryan Scaffolding Company
Limited on Jan. 14, 2005 held at Begbies Traynor, The Old
Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG,
the subjoined special resolutions to wind up the company were
passed.  Lloyd Biscoe of Begbies Traynor, The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG has been
appointed liquidator of the company.

CONTACT:  BEGBIES TRAYNOR
          The Old Exchange
          234 Southchurch Road
          Southend-on-Sea SS1 2EG
          Phone: 01702 467255
          Fax: 01702 467201
          E-mail: southend@begbies-traynor.com
          Web site: http://www.begbies.com


SAYCHESTER LIMITED: Baker Tilly Hired to Dissolve Company
---------------------------------------------------------
At the meeting of Saychester Limited on Dec. 15, 2004, the
special, ordinary and extraordinary resolutions to wind up the
company were passed.  Lindsey Jane Cooper and Stephen Mark Quinn
of Baker Tilly, Brazennose House, Lincoln Square, Manchester M2
5BL have been appointed joint liquidators of the company.

CONTACT:  BAKER TILLY
          Brazennose House,
          Lincoln Square,
          Manchester M2 5BL
          Phone: 0161 834 5777
          Fax:   0161 835 3242
          Web site: http://www.bakertilly.co.uk


THE COMPANY: Hires Joint Administrators from Stoy Hayward
---------------------------------------------------------
David Harry Gilbert and Simon James Michaels (IP Nos 2376/01,
8824/01) have been appointed joint administrators for The
Company Associates Limited.  The appointment was made Dec. 20,
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


THORNDYKE LIMITED: Joint Administrators from PwC Move in
--------------------------------------------------------
Stuart D. Maddison and Robert J. Hunt (IP Nos 1338, 8597) have
been appointed joint administrators for construction company
Thorndyke Limited.  The appointed was made Jan. 13, 2005.  Its
registered office is located at Spa Place, 36-42 Humberstone
Road, Leicester LE5 0AE.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Donington Court
          Pegasus Business Park,
          Castle Donington, East Midlands DE74 2UZ
          Phone: [44] (1509) 604 000
          Fax:   [44] (1509) 604 010
          Web site: http://www.pwc.com


UK COAL: Flood Shuts Ellington Mine; Causes GBP11.0 Mln Damage
--------------------------------------------------------------
U.K. Coal on Wednesday announced it has been forced to cease
production at Ellington Colliery in the North East of England
for safety reasons following the penetration of water on the
colliery coal face and unacceptable risks associated with
extracting limited nearby reserves.  Extensive round-the-clock
pumping over the past 13 days to lower the water levels on the
face, and the supply roads leading to it, have been
unsuccessful.

Ellington has produced around 12,000 tons of coal a week, most
of which was supplied to the nearby Alcan power station.
Supplies of coal to Alcan are currently being maintained from
stocks of around 150,000 tons at the colliery, and surface
mining operations elsewhere in the region.

U.K. Coal Chief Executive Gerry Spindler said: "The loss of any
mine in these circumstances is a bitter blow, particularly for
our employees and the local communities in which they live.
However, the safety of our employees is paramount.  Whilst we
have contained the flow, the face is flooded and mining adjacent
reserves carries unacceptable levels of risk.  We are left with
no realistic option but to close the mine."

Added Mr. Spindler: "We could not have asked for, or received,
more commitment than that given by the Ellington workforce, and
it is a great sadness that their attempts to maintain viable
deep mine operations for some years to come have been so
abruptly terminated."

Ellington Colliery made an estimated loss in 2004 of GBP11.0
million.  The cessation of production will result in the loss of
340 jobs and in a non-cash write-down of GBP4 million in respect
of its operations in the 2004 financial year; the additional
costs of closure, including redundancies, amount to GBP6 million
and will be recognized in the 2005 accounts in accordance with
U.K. generally accepted accounting principles.  Prior to shaft
filling, capping and surface remedial works estimated at GBP3
million, the closure will be cash neutral in 2005.

CONTACT:  GAVIN ANDERSON & COMPANY
          Ken Cronin
          Phone: 0207 554 1400
          Mobile: 07887 591 499

          U.K. COAL
          Operational:
          Stuart Oliver
          Phone: 01525 381759
          Mobile: 07774 231178


UNITED BISCUITS: Books GBP1.36 Bln Total Sales in FY2004
--------------------------------------------------------
United Biscuits (UB), a leading manufacturer and marketer of
biscuits and snacks in the United Kingdom and Continental
Western Europe, announces that total sales from continuing
operations for 2004 were GBP1.36 billion, showing growth of 4.6%
compared to 2003.

Commenting on the results, Malcolm Ritchie, Chief Executive
said: "This has been a transitional year during which we made
two significant acquisitions extending our market positions in
the U.K. and Portugal, disposed of our loss-making Benelux
snacks business, continued to implement our cost reduction
program and delivered a resilient trading performance under
challenging market conditions."

The 4.6% increase in sales also reflects an initial part-year
contribution from newly acquired businesses.  On an underlying
basis, at constant exchange rates, sales increased by 0.3%.

In August 2004, UB acquired Triunfo Produtos Alimentares S.A,
the number one biscuit manufacturer and marketer in Portugal.
Triunfo is being integrated into UB's Southern Europe business.
UB also acquired Jacob's Biscuit Group in the United Kingdom in
September 2004, thereby increasing its market position and
providing UB with broader coverage in the U.K. savory snacks and
crispbread and crackers segments as well as additional sweet
biscuit brands.

Looking ahead at 2005, Malcolm Ritchie commented: "A key feature
of the coming year will be the successful integration of Jacob's
into our U.K. business.  The process has already started with
significant cost savings having been identified across the Head
Office functions, procurement and logistics.  UB now has a
stronger and more diversified portfolio of household brands.
Collaboration on new product development and marketing
initiatives is already occurring and we expect to see the
benefit of this during 2005 together with the longer term
benefit of the current restructuring."

                            *   *   *

Fitch rates the group's senior subordinated notes 'B-'.

CONTACT:  UNITED BISCUITS
          Tim Robertson/Sofia Rehman

          CARDEW GROUP
          Phone: 020 7930 0777


VOSS NET: Confirms Plan to Purchase Mining Asset
------------------------------------------------
The Board of Voss Net plc notes the recent press speculation
regarding the acquisition of a mining asset and the subsequent
movement in the Company's share price followed by the suspension
of dealings in the Company's shares on 21 January 2005.

The Board confirms that it is currently in discussions with a
view to an acquisition.  Discussions are ongoing and may or may
not lead to a successful conclusion.  As and when the outcome is
known a further announcement will be made and shareholders will
be advised of details as appropriate.

                            *   *   *

Voss Net plc continues to operate as an AIM shell seeking
suitable targets for acquisition to increase shareholder value.
As announced on 10 October 2003, the Board entered into an
agreement with Nigel Weller and Chairman Leo Knifton whereby the
two would provide financial assistance enabling the Company and
its subsidiaries to enter into Company Voluntary Arrangements.
The directors are seeking a new business activity for the
company to provide it with a new future.

CONTACT:  VOSS NET
          E-mail: enquiries@vossnet.co.uk
          Web site: http://www.vossnet.co.uk


WHYTE AND MACKAY: CEO Offers to Buy 30% Stake in Distiller
----------------------------------------------------------
Whyte & Mackay Chief Executive Vivian Imerman is close to buying
the Scottish whisky distiller he is managing, The Telegraph
reports.

Mr. Imerman is understood to have made an offer for the 30%
stake held by WestLB AG's troubled principal finance arm.  If
successful, the acquisition would give him and his brother-in-
law, property tycoon Robert Tchenquiz, 90% of the firm between
them.

WestLB bought Whyte and Mackay from Jim Beam Brands for GBP207
million in 2001.  The firm, formerly Kyndal, is the last
remaining U.K. asset of the German bank's unit.  A source close
to Whyte and Mackay said the refinancing of the distiller's debt
is an important part of any deal.  The company has been hit by
intense local competition in the market, and is becoming a
liability to the bank.

Mr. Imerman has already invested a total of GBP70 million in an
effort to rehabilitate the business.  But it still reported
losses of more than GBP10 million last year.  This year, it is
expected to make another loss, although at a smaller scale.

CONTACT:  WHYTE AND MACKAY LTD.
          Head Office
          310 St Vincent Street,
          Glasgow, Scotland
          G2 5RG
          Phone: +44 (0) 141 248 5771
          Fax: +44 (0) 141 221 1993
          Web site: http://www.whyteandmackay.co.uk/


WOODKIRK STONE: Appoints Administrator from Horwath Clark
---------------------------------------------------------
Mark N. Ranson (IP No 9299) has been appointed administrator for
Woodkirk Stone Limited.  The appointment was made Jan. 17, 2005.
The company is into mining and quarrying.  Its registered office
is located at Horwath Clark Whitehill (Yorkshire) LLP, North
Lane House, 9B North Lane, Headingley, Leeds LS6 3HG.

CONTACT:  HORWATH CLARK WHITEHILL (YORKSHIRE) LLP
          North Lane House, 9B North Lane,
          Headingley, Leeds LS6 3HG
          Phone: 0113 274 0404
          Fax: 0113 274 3780
          Web site: http://www.horwathcw.com


X02 LIMITED: Members Pass Winding-up Resolutions
------------------------------------------------
At the extraordinary general meeting of the members of X02
Limited on Jan. 7, 2005 held at Elliot House, 151 Deansgate,
Manchester M3 3BP, the extraordinary and ordinary resolutions to
wind up the company were passed.  Stephen L. Conn of Begbies
Traynor, Elliot House, 151 Deansgate, Manchester M3 3BP has been
appointed liquidator of the company.

CONTACT:  BEGBIES TRAYNOR
          Elliot House, 151 Deansgate
          Manchester M3 3BP
          E-mail: manchester@begbies-traynor.com
          Web site: http://www.begbies.com


YEO FASHIONS: Members Decide to Wind up Company
-----------------------------------------------
At the extraordinary meeting of the members of Yeo Fashions
Limited on Jan. 17, 2005 the special and ordinary resolutions to
wind up the company were passed.  Simon Gwinnutt of Smith Cooper
has been appointed liquidator of the company.


YORKSHIRE PUB: Joint Administrators from Begbies Traynor Move in
----------------------------------------------------------------
G. Bell and R. Traynor (IP Nos 008710, 006730) have been
appointed joint administrators for Yorkshire Pub Co. Limited.
The appointment was made Jan. 10, 2005.  Its registered office
is located at Begbies Traynor, Elliot House, 151 Deansgate,
Manchester M3 3BP.

CONTACT:  BEGBIES TRAYNOR
          Elliot House
          151 Deansgate
          Manchester M3 3BP
          Phone: 0161 839 0900
          Fax: 0161 839 7436
          E-mail: manchester@begbies-traynor.com
          Web site: http://www.begbies.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-
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