TCREUR_Public/050726.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

             Tuesday, July 26, 2005, Vol. 6, No. 146

                            Headlines

C Z E C H   R E P U B L I C

DRUHA SLEVARNA: Bankruptcy Administrator Finally Finds Buyer


F R A N C E

COMPLETEL SAS: Moody's Rates Proposed Notes (P)B3
COMPLETEL SAS: S&P Rates EUR80 Mln Secured Notes 'B-'
EURO DISNEY: Nine-month Revenues Up 3%


G E R M A N Y

HEIDELBERGCEMENT AG: Spohn Acquires More Shares
HYDRAULISCHE PRESSEN: Court to Verify Claims September
INFINEON TECHNOLOGIES: Board Meeting Tackles Bribery Scandal
INTERFLUG CHARTER: Creditors' Claims Due Next Week
J.R. BILD: Creditors Meeting Set September

KBC-GMBH: Proofs of Claim Due this Month
KWK GEBAUDEREINIGUNG: Falls into Bankruptcy
MECHANISCHER BEARBEITUNGSBETRIEB: Bankruptcy Proceedings Begin
PQS-DRUCKHAUS: Creditors to Meet Third Week of August
PRINTING PARTNERS: Essen Court Calls in Administrator

PRODATA DATENSERVICE: Proofs of Claim Due Next Week
R. OHLMANN: Court to Verify Claims October
WEB.DE: Faces Uncertain Future as Core Operations Tank
WOLFORD AG: One-off Items Cause EUR4.7 Million Loss


I T A L Y

PARMALAT FINANZIARIA: Deutsche Bank Buys Bonds for French Client


R U S S I A

AEROFLOT: To Join Sky Team Early Next Year
ARZAMAS-AGRO-PROM-KHIMIYA: Bankruptcy Hearing Set August
BELOKALITVENSKIY: Bankruptcy Supervision Starts
KRASNOKUTSKAYA: Hearing on Bankruptcy Petition Set November
MERCURY: Appoints Insolvency Manager

NEFTEPOLIS INSURANCE: Off CreditWatch; Outlook Now Developing
OKLADNENSKIY: Undergoes Bankruptcy Supervision Procedure
PASSENGER TRANSPORT: Succumbs to Bankruptcy
SORMOVSKIY: Names A. Raspopin Insolvency Manager
TVERSKAYA: Deadline for Proofs of Claim August 25

VIKHOREVSKIY TIMBER: Auctioning Assets Next Month
YUKOS OIL: Court Returns Sibneft Stake to Major Shareholders
YURYUZANSKIY ENGINEERING: Public Auction Set Today


S P A I N

AVANZIT SA: Returns First-half Operating Result to Black


S W I T Z E R L A N D

SWISS INTERNATIONAL: Names Trustees for 'Darbada Foundation'


T U R K E Y

TEKFENBANK AS: Assigned B2/NP/E+ Ratings by Moody's


U K R A I N E

GORYANIVSKE: Court Names Irina Senchenko Insolvency Manager
KONYAKI KAVKAZU: Declared Insolvent
LADIZHINSKE STO: Under Bankruptcy Supervision
OBRIJ: Bankruptcy Supervision Starts
SNYATIN' CHEESE: Declared Bankrupt

SOKIL: Insolvency Manager Takes over Operations
TEHCONSULTING IMPEKS: Files for Bankruptcy
TEHCONSULTING KVALITET: Succumbs to Liquidation
UKRENERGOSERVICE: Court Appoints Temporary Insolvency Manager
VAZARI: Mikolaiv Court Opens Bankruptcy Proceedings


U N I T E D   K I N G D O M

A & B DEMOLITION: Inland Revenue Moves to Wind up Firm
ACCESS RESPONSE: Files for Liquidation
ACTION ROD: Inland Revenue Seeks Firm's Winding-up
ADVANCED ADHESIVE: Inland Revenue Requests Liquidation
AIRSOFT LIMITED: High Court to Hear Winding-up Petition

A. J. FABRICATION: Winding-up Hearing Set Wednesday
A K & Y LIMITED: Court to Hear Winding-up Petition this Week
ALESSANDRO PUBLIC: Winding-up Hearing Set Next Month
ALEXANDER-WYATT: High Court Accepts Winding-up Petition
ALPINE GLAZING: Royal Court to Hear Winding-up Petition

AMAZON HOMES: Official Receiver to Oversee Liquidation
ANOTHER PUB: Collapses into Liquidation
APOLLO CONTRACT: Winding-up Hearing Set August
AQUA SYSTEMS: Birmingham Court Okays Liquidation Petition
ASHTEAD GROUP: Completes Pricing of Senior Loan Notes

ASPINALL PLC: Winding-up Hearing Set this Week
ASTEL HEALTH: Creditors Meeting Set Next Month
ATLANTIC ENERGY: Inland Revenue Seeks Liquidation
ATOM HR: Leeds Court Accepts Winding-up Petition
AUBERGINE ADVERTISING: Review of Winding-up Petition Set August

BANDLER LIMITED: Winding-up Hearing Set Tomorrow
BAYMOVER LTD.: Creditors to Meet Tomorrow
BEDZ-R-UZ LIMITED: Court to Review Winding-up Petition this Week
B.J.I. INTERNATIONAL: Creditor Files Winding-up Petition
BLUECHAIN LIMITED: Winding-up Hearing Set Wednesday

BOOTS GROUP: Non-executive Director Steps down After 4 Years
BOOTS GROUP: Key Unit Reveals Small Drop in Sales
BRIAN JOHNSON: Inland Revenue Asks Bristol Court to Wind up Firm
BRITISH ENERGY: Results of Successor Firm Out Tomorrow
CHS DRIVERS: Royal Court to Review Liquidation Petition

COLERAINE F.C.: Receives Winding-up Order
COLT TELECOM: Turnover Defies Challenging Market
COOL MOVERS: Ralph Coleman Applies for Winding-up Order
CROWN & TREATY: Receives Petition to Wind up
C T M CONSTRUCTION: Inland Revenue Seeks Liquidation

DELTA FOODS: Delta Foods Wants Firm to Liquidate
D.H. EVANS: In Liquidation
D.H. EVANS: Asset Manager Goes into Liquidation
DOLPHIN UK: Scaffolding Services Firm to Liquidate
EDMONDS OF WENDOVER: Royal Court to Review Winding-up Petition

ENERGIS PLC: Cable & Wireless Mulls Takeover
EYE BM: Bristol Court Accepts Winding-up Petition
FT5K (QA): Winding-up Hearing Set this Week
FTM SPECIALIST: Inland Revenue Seeks Liquidation
FUTURA SOLUTIONS: Goes into Liquidation

HERONSEAL LIMITED: Bristol Court Issues Winding-up Order
HILBRE COURT: High Court Orders Liquidation
INMARSAT PLC: 258 Employees Take up Share Options
ITM GROUP: Winding-up Petition Gets Court Approval
J A H ELECTRICAL: Leeds Court Accepts Winding-up Petition

KLAUSSNER FURNITURE: Business for Sale
MG ROVER: Nanjing Automobile Takes Driver's Seat
MISYS PLC: Turnover Drops GBP12 Mln; Profit Up GBP11 Mln
QXL RICARDO: Revenues Swell 71% to GBP2.52 Million
RAILTRACK PLC: Government Attorney Makes Closing Arguments

TRACEY'S INDUSTRIAL: Court to Hear Winding-up Petition this Week
TURNER & NEWALL: Asbestos Panel Wants Estimation Proof Reopened
WADE SMITH: Fashion Retailer up for Sale
YE OLDE: Creditor Seeks Liquidation of Business

* Large Companies with Insolvent Balance Sheets


                            *********


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


DRUHA SLEVARNA: Bankruptcy Administrator Finally Finds Buyer
------------------------------------------------------------
Collapsed foundry Druha slevarna Blansko (DSB) has a new owner
three years after declaring bankruptcy, Czech News Agency says.

Businessman Milan Hlavac has acquired the group for EUR2.4
million (CZK72.5 million) and has no plan to lay off any of
DSB's 450 employees.  The company was once a part of holding
group CKD Blansko.  Its bankruptcy administrator failed to find
a buyer last year due to unresolved matters regarding its real
estate ownership.  Established in 1967, DSB produces castings
from a wide variety of steels and gray cast iron.

CONTACT:  DRUHA SLEVARNA BLANSKO a.s.
          Gellhornova 18
          678 01 Blansko
          Web site: http://www.dsbblansko.cz


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


COMPLETEL SAS: Moody's Rates Proposed Notes (P)B3
-------------------------------------------------
Moody's Investors Service assigned ratings to the Notes offered
by Completel S.A.S., a subsidiary of Completel Europe N.V.  The
ratings reflect the high execution risk associated with
Completel's expansion plan, offset by the adequate liquidity
position following the joint equity and bond offerings.

These ratings were assigned:

(a) Corporate family rating (previously referred to as senior
    implied rating) of (P)B3;

(b) EUR80 million senior secured notes due 2012 rated (P)B3; and

(c) The outlook is stable for all ratings.

The (P)B3 ratings reflect risks from the company's significant
indebtedness paired with negative free cash flow (as a
consequence of the strategic plan execution) for at least 2
years from the start of the expansion plan and the substantial
execution risks associated with the rapid roll-out of
Completel's expansion plan.  The (P)B3 ratings also incorporate
risk from (i) The limited scale and scope of Completel's current
operations; (ii) Strong competition from a number of larger,
better capitalized operators; (iii) Some regulatory risk in
connection with the setting of interconnection tariffs with
France Telecom and (iv) a degree of dependence on third party
suppliers of network capacity.

More positively, the (P)B3 ratings recognize that Completel is
the only specialist telecoms provider focused exclusively on
business customers and that its network is optimized to provide
such services.  The (P)B3 ratings also acknowledge:

(a) Management's track record in building a profitable, cash-
    flow positive business in France and establishing a
    diversified customer base;

(b) The competitive advantages from its nine high-quality,
    fiber-based Metropolitan Area Networks; and

(c) A fresh common equity contribution of EUR40 million.

The stable outlook indicated for Completel's ratings reflects
the relatively comfortable positioning of the company within the
(P)B3 rating category, which is supported by the pro forma
liquidity position.  However, it is not envisaged that there
will be upward ratings pressure until Completel achieves
positive free cash flow.  Ratings could be downgraded if revenue
growth does not materially accelerate beyond current levels.

The (P)B3 rating on the notes, which is the same as the
Corporate Family Rating, acknowledges that the Notes represent
senior claims on Completel S.A.S., which has the majority of the
assets and cash flows of the group.  The Notes benefit from
upstream guarantees from Estel S.A.S. and Completel Services
S.A.S. (a shell company), both of which the company has
indicated that it intends to merge into Completel S.A.S.

Although the notes indentures carve out the ability for the
company to secure up to EUR20 million in bank facilities secured
on receivables there is currently no such facility in place.
The (P)B3 rating assumes that this flexibility will not be used
in the near-term and any use of this carve-out for anything
other than short-term working capital needs could cause Moody's
to consider notching from the (P)B3 rating.

Headquartered in Paris, France, Completel generated EUR158.3
million and EUR22.6 million of revenues ad EBITDA respectively
in the fiscal year ended December 31, 2004.  In the first
quarter of 2005, sales and EBITDA were EUR44.8 million and
EUR7.6 million respectively.  Approximately 80% of revenues are
derived from sales to business customers and 20% from sales to
wholesale customers.

CONTACT:  MOODY'S INVESTORS SERVICE LTD. (LONDON)
          David G.  Staples, Managing Director
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          Christian Rauch, Senior Vice President
          Corporate Finance
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


COMPLETEL SAS: S&P Rates EUR80 Mln Secured Notes 'B-'
-----------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B-' long-term
corporate credit rating to Completel SAS, a French fiber-based
telecommunications alternative carrier.  The outlook is stable.

At the same time, the proposed EUR80 million (US$96 million)
senior secured notes issue maturing in 2012 were rated 'B-' and
assigned a recovery rating of '4', indicating that noteholders
can expect marginal (25%-50%) recovery of principal in the event
of a default.  The ratings are subject to final documentation.

"The ratings on Completel primarily reflect the group's position
as a challenger to more established and larger competitors in
markets enduring weak demand and pricing pressure, as well as
major operational challenges facing the group amid plans to
expand its network by unbundling digital subscriber lines (DSLs)
to about 80 metropolitan networks (MANs) from nine currently,"
said Standard & Poor's credit analyst Melvyn Cooke.  "We
nevertheless expect the group to benefit from sufficient
liquidity to implement its strategy after its simultaneous EUR80
million notes issue and EUR40 million equity offering."

Completel delivered revenues of about EUR158 million and EBITDA
of EUR23 million in 2004.  The company currently operates a
complete fiber-based telecommunications network in nine major
French cities, spanning approximately 2,200 kilometers (km) and
connecting some 2,000 corporate customers.  Completel also
enjoys a significantly more conservative capitalization
structure than its peers.

"The stable outlook reflects our expectation that Completel will
successfully complete its DSL network rollout and large
recruitment drive, while generating sufficient customer growth
in order to achieve free cash flow breakeven in 2007-2008,"
added Mr. Cooke.  "The ratings also assume that Completel will
remain fully funded while implementing its expansion plan."

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com. It can also be found at
http://www.standardandpoors.com. Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605;
Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5916; or Moscow (7) 095-783-4017.  Members of the
media may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          CorporateFinanceEurope@standardandpoors.com


EURO DISNEY: Nine-month Revenues Up 3%
--------------------------------------
Euro Disney S.C.A., parent company of Euro Disney Associes
S.C.A., operator of Disneyland Resort Paris, has reported total
consolidated revenues grew 3% over the prior year for the nine
months ended June 30, 2005, reflecting theme park revenue growth
of 4%, partially offset by the effect of reduced revenues at the
hotels.

Overall, resort segment revenues grew 2% for the first nine
months over the corresponding period of the prior year.  Total
revenues increased 3% for the nine months ended June 30, 2005 to
a record EUR755.4 million compared to EUR736.1 million for the
corresponding period of the prior year.

Theme park revenues increased 4% over the prior year to reach
EUR382.2 million for the nine months ended June 30, 2005.  The
increase was primarily a result of higher average spending per
guest, partially offset by slightly lower theme park attendance.

Average theme park guest spending was favorably impacted by
modest changes in admissions pricing, including a change in the
allocation of total vacation package pricing from hotel rooms to
theme park admissions.  Additionally, merchandise and food and
beverage spending increased, due to improved capture rates
reflecting changes in product and service offerings.

Hotels and Disney Village revenues decreased 3% for the nine
months ended June 30, 2005 to EUR281.8 million, reflecting a 5%
decrease in average daily guest spending per room, which
reflects lower average daily room rates including the impact of
a change in the allocation of total vacation package pricing
from hotel rooms to theme park admissions, and an unfavorable
comparison with strong prior year convention activities.

Revenues generated by the Real Estate Segment were EUR14.7
million, reflecting an increase versus the prior year of EUR7.9
million, in line with our land development expectations.

Revenues for the Three Months Ended June 30, 2005

For the third quarter ended June 30, 2005, total revenues
decreased 1% to EUR261.3 million from a prior-year amount of
EUR265.1 million.  Resort Segment revenues decreased 3% to
EUR256.3 million compared to EUR262.9 million in the prior year.
Although third quarter theme park revenues increased slightly
reflecting higher average guest spending, our attendance, hotel
occupancy and average daily guest spending per room were below
prior-year levels.

As previously indicated with the Company's First-half results,
the third quarter of fiscal year 2005 was adversely affected
versus the prior year by the shift of the Easter season and
vacation calendar into the second quarter.

Revenues for the Real Estate Segment increased EUR2.9 million
during the quarter to EUR5.0 million.

Based on the third quarter revenue performance, the Company
still expects to grow revenue for the full fiscal year, but
below previous expectations, resulting in a relatively stable
EBITDA (earnings before interest, income taxes, depreciation,
amortization, minority interest and exceptional items)1,
compared to the prior year.

Karl L. Holz, Chairman and Chief Executive Officer of Euro
Disney S.A.S., said: "I am pleased with our record revenues for
the nine months, particularly in light of a challenging third
quarter.  Our focus continues to center on driving greater
growth in the long term through the implementation of our multi-
year expansion program.

"Space Mountain: Mission 2 and our thrilling nighttime
spectacular "Wishes" are only the first steps in this multi-year
plan for the Resort.  We continue to draw upon Disney's 50 years
of experience and leadership in theme park and resort
entertainment to maintain our position as Europe's top vacation
destination."

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 2,074 additional third-party rooms located on the
site), two convention centers, Disney Village, a dining,
shopping and entertainment center, 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.

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


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


HEIDELBERGCEMENT AG: Spohn Acquires More Shares
-----------------------------------------------
Spohn Cement continued to secure its control of troubled
HeidelbergCement by acquiring shares from one of its major
shareholders, Borsen Zeitung says.

Spohn acquired around 15 million shares, equivalent to 13% of
HeidelbergCement, from the Schwenk/Schleicher family for EUR900
million.  The Schwenk/Schleicher family, whose investment in
HeidelbergCement dates back to 1911, now only holds a 7.5%
stake.

With the acquisition, Spohn now holds an estimated 47% stake in
HeidelbergCement.  Spohn reportedly has no plans to take full
control of the group, but is interested only in acquiring a
majority stake.

TCR Europe reported on July 14, 2005 that the management and
supervisory boards of troubled HeidelbergCement have approved
Spohn Cement's bid to acquire it for EUR6 billion at EUR60 per
share.  The group's decision came as no surprise since Bernd
Scheifele, HeidelbergCement's head who holds a 30% stake
directly and indirectly in the group, and Adolf Merckle, owner
of Spohn Cement, are close friends.

Based in Heidelberg, Germany, HeildelbergCement booked EUR333
million in net loss in 2004.  The group attributed the loss to
impairment of goodwill for the Western Europe and Northern
Europe regions and Indocement.

CONTACT:  HEIDELBERGCEMENT AG
          Berliner Strasse 6
          69120 Heidelberg
          Phone: +49-6221-481-227
          Fax: +49-6221-481-217
          Web site: http://www.heidelbergcement.com


HYDRAULISCHE PRESSEN: Court to Verify Claims September
------------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Hydraulische Pressen Hans Schoen GmbH on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 17, 2005
to register their claims with court-appointed provisional
administrator Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 1:40 p.m. at the district
court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2.
OG, gelber Bereich, Saal 293, 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:  HYDRAULISCHE PRESSEN HANS SCHOEN GmbH
          Zum Ludwigstal 16, 45527 Hattingen
          Contact:
          Heinz-Walter Foltinek, Manager
          Mario Caudullo, Manager
          Uwe Brickwede, Manager

          Bernd Depping, Administrator
          Alfredstr. 108-112, 45131 Essen
          Phone: (0201) 879040
          Fax: 02018790412


INFINEON TECHNOLOGIES: Board Meeting Tackles Bribery Scandal
------------------------------------------------------------
Topics on the agenda of a meeting of the investment, financial
and audit committee of Infineon Technologies AG (FSE/NYSE: IFX)
held on July 22 included the preliminary inquiry concerning Dr.
Andreas von Zitzewitz.

The committee discussed the measures implemented on behalf of
the supervisory board in response to the charges made by Mr.
Schneider in March 2004.  In addition to an external legal
investigation, these included examinations carried out within
the company by the legal department and an audit.  In addition,
everyone involved was subjected to repeated and detailed
questioning.  The resulting report, a revocation on the part of
Udo Schneider and a written declaration of untenability from Dr.

von Zitzewitz to the chairman of the supervisory board formed
the basis for the supervisory board's earlier decision.

The committee has come to the conclusion that the matter was
comprehensively investigated at the time.  The decision to
continue the working relationship with Dr. von Zitzewitz was
based on the fact that no evidence of misconduct could be found
and that there were strong doubts about the credibility of Mr.
Schneider.  Mr. Schneider declined to present evidence for his
accusations and subsequently retracted them publicly.

This notwithstanding, the events have moved the committee to
call for the investigation by an external body of the internal
information and monitoring system with the goal of establishing
whether there are any weak points in the procedures currently in
place at Infineon at which might have prevented the timely
detection of the alleged irregularities.  This constitutes a
further component of the action plan drawn up jointly by the
supervisory and managing boards for the full and unconditional
clarification of this matter.

About Infineon

Infineon Technologies AG, Munich, Germany, offers semiconductor
and system solutions for automotive, industrial and multimarket
sectors, for applications in communication, as well as memory
products.  With a global presence, Infineon operates through its
subsidiaries in the U.S. from San Jose, CA, in the Asia-Pacific
region from Singapore and in Japan from Tokyo.  In fiscal year
2004 (ending September), the company achieved sales of EUR7.19
billion with about 35,600 employees worldwide.  Infineon is
listed on the DAX index of the Frankfurt Stock Exchange and on
the New York Stock Exchange (ticker symbol: IFX).  Visit
http://www.infineon.comfor more information.

                            *   *   *

As reported in TCR-Europe on July 21, Andreas von Zitzewitz was
under investigation "in context with payments made for contracts
regarding motorsport sponsorship."

Mr. Zitzewitz led the firm's memory chip division, the key
operations at Europe's second-biggest chipmaker.  Munich
prosecutors have said Mr. Zitzewitz pocketed some US$370,000
(EUR306,779) in bribes for racing sponsorship deals, Deutsche
Welle reported.  The paper added the company has been aware of
the corruption since last year.

CONTACT:  INFINEON TECHNOLOGIES AG
          Worldwide Headquarters
          P.O. Box 80 09 49
          D-81609 Muenchen
          Germany
          Web site: http://www.infineon.com
          Phone: +49-89-234-28481
          Fax: +49-89-234-28482
          E-mail: guenter.gaugler@infineon.com

          For Investors and Analysts based in Europe
          Phone: +49-89-234 26655
          E-mail: investor.relations@infineon.com

          For Investors and Analysts based in North America
          Phone: +-1-408 501 6800
          E-mail: investor.relations@infineon.com

          Christoph Liedtke
          U.S.A.
          Phone: +1-408 501-6790
          Fax: +1-408 501-2424
          E-mail: christoph.liedtke@infineon.com

          Kaye Lim
          Asia
          Phone: +65-6840-0689
          Fax: +65-6840-0073
          E-mail: kaye.lim@infineon.com

          Hirotaka Shiroguchi
          Japan
          Phone: +81-3-5449-6795
          Fax: +81-3-5449-6401
          E-mail: hirotaka.shiroguchi@infineon.com


INTERFLUG CHARTER: Creditors' Claims Due Next Week
--------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against INTERFLUG Charter System Reise- und Handelsgesellschaft
mbH on June 28.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until August 2, 2005 to register their claims with court-
appointed provisional administrator Heiko Fialski.

Creditors and other interested parties are encouraged to attend
the meeting on September 23, 2005, 9:35 a.m. at the district
court of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083
Hamburg, Saal 1, 2. Ebene (Zi. 2.18), 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 on September 30, 2005, 10:05 a.m. at
the same venue.

CONTACT:  INTERFLUG CHARTER SYSTEM REISE-
          UND HANDELSGESELLSCHAFT mbH
          Papenreye 23, 22453 Hamburg
          Contact:
          Erdal Halvasi, Manager
          Alsterdorfer Strasse 505D, 22337 Hamburg

          Heiko Fialski, Administrator
          Raboisen 38, 20095 Hamburg
          Phone: 33446-0
          Fax: 33446-111


J.R. BILD: Creditors Meeting Set September
------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against J. R. Bild und Rahmen GmbH on July 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until August 18, 2005 to register their
claims with court-appointed provisional administrator Klaus
Knetter.

Creditors and other interested parties are encouraged to attend
the meeting on September 8, 2005, 9:15 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, 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:  J. R. BILD UND RAHMEN GmbH
          Bosfelder Weg 73, 33378 Rheda-Wiedenbrueck
          Contact:
          Juergen Rheinhardt

          Klaus Knetter, Administrator
          Otto-Brenner-Str. 186, 33604 Bielefeld


KBC-GMBH: Proofs of Claim Due this Month
----------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against KBC-GmbH on June 28.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until July 29, 2005 to register their claims with
court-appointed provisional administrator Dr. Sven-Holger
Undritz.

Creditors and other interested parties are encouraged to attend
the meeting on September 6, 2005, 10:20 a.m. at the district
court of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083
Hamburg, Saal 1, 2. Ebene (Zi. 2.18), 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:  KBC-GmbH
          Reeseberg 62, 21079 Hamburg
          Contact:
          Sebat Bozkurt, Manager
          Ladenbeker Furtweg 254-4,
          11. Stock, 4. Reihe, 21033 Hamburg
          Hediye Keser, Manager
          Auf dem Langstuecken 1, 21031 Hamburg

          Dr. Sven-Holger Undritz, Administrator
          Jungfernstieg 51, 20354 Hamburg
          Phone: 808136-212
          Fax: 808136-119


KWK GEBAUDEREINIGUNG: Falls into Bankruptcy
-------------------------------------------
The district court of Duisburg opened bankruptcy proceedings
against KWK Gebaudereinigung, Beton-Sanierung, -Beschichtung
GmbH on July 1.  Consequently, all pending proceedings against
the company have been automatically stayed.  Creditors have
until August 1, 2005 to register their claims with court-
appointed provisional administrator Thomas Schmitz.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 11:45 a.m. at the district
court of Duisburg, Nebenstelle, Kardinal-Galen-Strasse 124-130,
47058 Duisburg, III. Etage, Raum 315, 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:  KWK GEBAUDEREINIGUNG, BETON-SANIERUNG,
          -BESCHICHTUNG GmbH
          Augustastrasse 51, 47198 Duisburg
          Contact:
          Dirk Kohni, Manager

          Thomas Schmitz, Administrator
          Am Flohbusch 1, 47802 Krefeld


MECHANISCHER BEARBEITUNGSBETRIEB: Bankruptcy Proceedings Begin
--------------------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Mechanischer Bearbeitungsbetrieb Hans Schoen GmbH on
July 1.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
August 17, 2005 to register their claims with court-appointed
provisional administrator Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 1:35 p.m. at the district
court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2.
OG, gelber Bereich, Saal 293, 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:  MECHANISCHER BEARBEITUNGSBETRIEB HANS SCHOEN GmbH
          Zum Ludwigstal 16, 45527 Hattingen
          Contact:
          Heinz-Walter Foltinek, Manager
          Mario Caudullo, Manager

          Bernd Depping, Administrator
          Alfredstr. 108-112, 45131 Essen
          Phone: (0201) 879040
          Fax: 02018790412


PQS-DRUCKHAUS: Creditors to Meet Third Week of August
-----------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against PQS-Druckhaus GmbH on July 1.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors had until July 25, 2005 to register their claims with
court-appointed provisional administrator Dr. Guenter Trutnau.

Creditors and other interested parties are encouraged to attend
the meeting on August 15, 2005, 9:25 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, 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:  PQS-DRUCKHAUS GmbH
          Im Teelbruch 63, 45219 Essen
          Contact:
          Norbert Zehle, Manager
          Trappenbergstr. 37, 45134 Essen

          Dr. Guenter Trutnau, Administrator
          Kettwiger Strasse 2-10, 45127 Essen
          Phone: (0201) 1095-3


PRINTING PARTNERS: Essen Court Calls in Administrator
-----------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Printing Partners Druck GmbH on July 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until July 25, 2005 to
register their claims with court-appointed provisional
administrator Dr. Guenter Trutnau.

Creditors and other interested parties are encouraged to attend
the meeting on August 15, 2005, 9:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, 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:  PRINTING PARTNERS DRUCK GmbH
          Frielingsdorfweg 17, 45239 Essen
          Contact:
          Paulheinz Veltjens, Manager
          Carl-Peschken-Str. 7, 47441 Moers

          Dr. Guenter Trutnau, Administrator
          Kettwiger Strasse 2-10, 45127 Essen
          Phone: (0201) 1095-3


PRODATA DATENSERVICE: Proofs of Claim Due Next Week
---------------------------------------------------
The district court of Hagen opened bankruptcy proceedings
against ProData Datenservice GmbH on July 5.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until August 1, 2005 to register their
claims with court-appointed provisional administrator Dr. Jens
Uwe Drowatzky.

Creditors and other interested parties are encouraged to attend
the meeting on August 22, 2005, 10:30 a.m. at the district court
of Hagen, Haupthaus (Neubau), Heinitzstrasse 42, 58097 Hagen,
Etage 2, Raum 283, 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:  PRODATA DATENSERVICE GmbH
          Kleine Strasse 22, 58099 Hagen
          Contact:
          Silvia Esselmann, Manager

          Dr. Jens Uwe Drowatzky, Administrator
          Feithstr. 177, 58097 Hagen
          Phone: 02331 10980
          Fax: +492331


R. OHLMANN: Court to Verify Claims October
------------------------------------------
The district court of Fuerth opened bankruptcy proceedings
against R. Ohlmann GmbH on June 30.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until September 9, 2005 to register their claims
with court-appointed provisional administrator Hans Raab.

Creditors and other interested parties are encouraged to attend
the meeting on August 18, 2005, 10:15 a.m. at the district court
of Fuerth, Zi. 3, EG, Dienstgebaude, Baumenstrasse 32, 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 on October 13, 2005, 9:00
a.m. at the same venue.

CONTACT:  R. OHLMANN GmbH
          Am Muehlberg 20 in 91477 Markt Bibart

          Hans Raab, Administrator
          Marktstr. 1, 91448 Emskirchen
          Phone: 09104/8294-18


WEB.DE: Faces Uncertain Future as Core Operations Tank
------------------------------------------------------
The future core business of online service provider Web.de
dipped further in the first half of the year, Borsen Zeitung
says.

The operations posted a negative EBIT of EUR5.6 million for the
first six months of 2005, worse than last year's deficit of
EUR4.5 million.  The businesses also booked a higher net loss of
EUR3.9 million, up from EUR2.6 million.  Web.de attributed the
losses to rising costs and stagnating turnover.

Web.de sold its Internet portal and brand name to local rival
United Internet for EUR353 million.  Following the sale, the
group will focus on its Internet communication software,
subsequently changing its name to Combots AG.  The group's
products will also bear the same name.

CONTACT:  WEB.DE AG
          Amalienbadstrasse 41
          76227 Karlsruhe
          Phone: 49 721 9 4329-0
          Fax +49 721 9 43 29-22
          Web site: http://www1.webde-ag.de

          Oliver Schwartz
          Director Communications
          Phone: +49 721 9 43 29-53 10
          Fax: +49 721 9 43 29-29 29


WOLFORD AG: One-off Items Cause EUR4.7 Million Loss
---------------------------------------------------
Highlights

(a) Sales down by 2.4% (currency-adjusted: down 1.6%);

(b) Steep drop of EUR4.7 million in earnings through one-off
    factors; and

(c) The Executive Board is optimistic for the current fiscal
    year.

EBITDA for fiscal year 2004-2005 fell by EUR9.4 million to
EUR6.2 million.  The EBITDA margin narrowed accordingly from 7.9
to 5.3%.  EBIT and EBT developed analogously: EBIT fell by
EUR3.1 million to -EUR0.5 million and EBT too veered from EUR1.0
million in fiscal 2003/04 to -EUR2.2 million.

Financial earnings remained stable at -EUR 1.7 million, which
was more or less last year's level (-EUR 1.6 million).  The
Wolford Group suffered an appreciable drop in earnings for the
year: from EUR0.9 million in 2003/04 to now -EUR4.7 million.
The cash flow from business operations, at EUR9.9 million is
lower than in the previous year (EUR12.9 million), mainly on
account of declining EBT.  Earnings per share amount to -EUR0.99
(2003/04: EUR0.18).

Earnings Squeezed by Once-off Expenses

According to Chief Financial Officer Peter Simma, the negative
development in earnings was due primarily to once-off expenses.
Thus, for example, alone the lowering of the corporate tax rate
from 34 to 25% and the resulting re-assessment of deferred tax
assets led to deferred tax expenses of EUR1.4 million in the
income statement, and an additional deferred tax expense of
EUR0.6 million.  Earnings were also reduced by the departure of
a member of the Executive Board and the expenses this entailed,
plus unscheduled write-downs and other provisions totaling about
EUR2.7 million.

He said: "Without these burdens, EBT would have been a positive
EUR0.5 million or a break-even result for the year.

In fiscal 2004/05, the Wolford Group suffered a decline in
revenue from EUR119.2 million (in fiscal 2003/04) to EUR116.3
million (down 2.4%).  Compared with the previous year -- when
sales dropped by 7.4% -- the company succeeded in curbing the
downward development appreciably.

In the current fiscal year, the Executive Board expects a much
more positive development in sales and earnings, with envisaged
minimum revenues of EUR120 million.

The annual report in German or English can be downloaded at
http://www.wolford.com

CONTACT:  WOLFORD AG
          Wolfordstrasse 1, A-6901
          Bregenz, Austria
          Phone: +43 (0) 5574/690 0
          Contact:
          Holger Dahmen, Chief Executive Officer
          Peter Simma, Chief Financial Officer
          E-mail: investor@wolford.com


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


PARMALAT FINANZIARIA: Deutsche Bank Buys Bonds for French Client
----------------------------------------------------------------
Deutsche Bank has been actively buying bonds in collapsed food
group Parmalat Finanziaria, possibly for French group Lactis, Il
Sole 24 Ore says.

According to report, the bonds would allow Lactis to hold 10-15%
of Parmalat's future share capital.  Lactis and local dairy
group Granarolo are gearing up for a EUR2 billion takeover in
time for Parmalat EUR12 billion debt-for-equity swap with Banca
Intesa.  The swap would mark the dairy giant's return to the
stock market either in September or October.

Aside from Deutsche Bank, JP Morgan and Lehman Brothers have
also been active in buying Parmalat bonds.  Parmalat collapsed
in December 2003 after revealing EUR14 billion in debt in its
balance sheet.

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

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

          DEUTSCHE BANK AG
          Taunusanlage 12
          60262 Frankfurt am Main
          Phone: +49-69-910-00
          Fax: +49-69-910-38591
          Web site: http://www.deutsche-bank.de

          GRANAROLO S.p.A.
          via Cadriano 27/2
          40127 Bologna
          Phone: 051 - 4162311
          Web site: http://www.granarolo.it

          J.P. MORGAN PARTNERS, LLC
          1221 Avenue of the Americas, 40th Fl.
          New York, NY 10020
          Phone: 212-899-3400
          Fax: 212-899-3401
          Web site: http://www.jpmorganpartners.com

          LEHMAN BROTHERS HOLDINGS INC.
          745 7th Ave.
          New York, NY 10019
          Phone: 212-526-7000
          Fax: 212-526-8766
          Toll Free: 800-666-2388
          Web site: http://www.lehman.com


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


AEROFLOT: To Join Sky Team Early Next Year
------------------------------------------
Aeroflot will have completed the requisites of joining the Sky
Team aviation alliance by spring, Delta Airlines vice president
for international relations Jorge Fernandez told the press.

The state-owned airline is set by the end of the year to
negotiate and establish cooperation with Sky Team members, which
include Aeromexico, Air France, Alitalia, CSA Czech Airlines,
Delta Air Lines and Korean Air.

Aeroflot is based in Moscow's Sheremetyevo Airport.  It controls
11% of domestic and 39% of international market of air carriages
in Russia.  For the first quarter of the year, Aeroflot saw its
net loss double from RUB422 million to RUB875 million, despite
posting a hike in revenues from RUB9.986 billion to RUB11.085
billion.  The carrier recently named Ivanov Victor Petrovich
chairman.

CONTACT:  AEROFLOT - RUSSIAN AIRLINES JSC
          Leningradsky Prospect 37, Bldg. 9
          125167 Moscow, Russia
          Phone: +7-095-155-6643
          Fax: +7-095-155-6647
          Web site: http://www.aeroflot.ru


ARZAMAS-AGRO-PROM-KHIMIYA: Bankruptcy Hearing Set August
--------------------------------------------------------
The Arbitration Court of Nizhniy Novgorod region has commenced
bankruptcy supervision procedure on open joint stock company
Arzamas-Agro-Prom-Khimiya.  The case is docketed as A43-4974/05-
18-174.  Mr. A. Zakharov has been appointed temporary insolvency
manager.

Creditors may submit their proofs of claim to 603022, Russia,
Nizhniy Novgorod region, Krasnoselskaya Str. 11-B.  A hearing
will take place on Aug. 30, 2005, 3:30 p.m.

CONTACT:  ARZAMAS-AGRO-PROM-KHIMIYA
          Russia, Nizhniy Novgorod region,
          Arzamas, Selkhoztekhnika

          Mr. A. Zakharov
          Temporary Insolvency Manager
          603022, Russia, Nizhniy Novgorod region,
          Krasnoselskaya Str. 11-B


BELOKALITVENSKIY: Bankruptcy Supervision Starts
-----------------------------------------------
The Arbitration Court of Rostov region has commenced bankruptcy
supervision procedure on limited liability company
Belokalitvenskiy (TIN 6142016617).  The case is docketed as A53-
2961/05-S2-24.  Mr. M. Bednikov has been appointed temporary
insolvency manager.  A hearing will take place on Oct. 25, 2005,
2:00 p.m.

CONTACT:  BELOKALITVENSKIY
          Russia, Rostov region,
          B. Kalitva, Sovetskoy Armii Str. 3


KRASNOKUTSKAYA: Hearing on Bankruptcy Petition Set November
-----------------------------------------------------------
The Arbitration Court of Saratov region has commenced bankruptcy
supervision procedure on limited liability company
Krasnokutskaya.  The case is docketed as A-57-116B/05-31.  Mr.
A. Kharitonov has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 410049, Russia,
Saratov region, Barnaulskaya Str. 34.  A hearing will take place
on Nov. 17, 2005, 2:30 p.m. (Moscow time).

CONTACT:  KRASNOKUTSKAYA
          Russia, Saratov region,
          Krasnyj Kut, Ptitsefabrika

          Mr. A. Kharitonov
          Temporary Insolvency Manager
          410049, Russia, Saratov region,
          Barnaulskaya Str. 34


MERCURY: Appoints Insolvency Manager
------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
supervision procedure on open joint stock company Mercury.  The
case is docketed as A64-311/05-18.  Mr. Y. Ignatenko has been
appointed temporary insolvency manager.

CONTACT:  MERCURY
          Russia, Tambov region,
          Michurinsk, Privokzalnaya Square, 3

          Mr. Y. Ignatenko
          Temporary Insolvency Manager
          Russia, Tambov region,
          Studenetskaya Naberezhnaya Str. 20


NEFTEPOLIS INSURANCE: Off CreditWatch; Outlook Now Developing
-------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' long-term
counterparty credit, insurer financial strength ratings and its
'ruBBB-' Russia national scale rating on Russia-based insurer
Neftepolis Insurance Co. LLC.  At the same time, the ratings
were removed from CreditWatch, where they had been placed on May
19, 2005, with negative implications.  The outlook on the long-
term counterparty credit and insurer financial strength ratings
is developing.

"The resolution of the CreditWatch placement of Neftepolis
follows resolution of the CreditWatch status of its ultimate
parent, Russian state-owned oil company OJSC Oil Company Rosneft
(Rosneft; B-/Developing/--), on July 21, 2005," said Standard &
Poor's credit analyst Tatiana Grineva.

The resolution of Rosneft's CreditWatch placement reflects
Standard & Poor's view that Rosneft has reduced its potential
immediate liquidity claims as a result of the willingness of
international banks -- holders of US$1.9 billion of the
company's long-term loans -- to provide waivers and has achieved
a temporary solution with holders of a further US$1.1 billion of
guarantees.

Moreover, US$2 billion from a new long-term loan is available to
the company to refinance the bulk of its scheduled short-term
maturities.

Standard & Poor's notes, however, Rosneft's fundamentally
volatile financial position, and will evaluate its ongoing
financing, investment, and M&A activity.

The attitudes of the Russian government and government-related
financial institutions remains an important rating factor for
Rosneft, as in the long term these may trigger further growth in
various liabilities, but may also provide necessary liquidity.

"The ratings on Russian-based insurer reflect a strong
management team and good position in the energy-related
insurance niche market," said Ms. Grineva.  "These positive
factors are offset by high industry and country risk, and poor
quality of investments common to all insurers in the Russian
market."

The developing outlook on Neftepolis reflects the developing
outlook on the parent, Rosneft, and it is likely that any change
in the ratings on the parent would affect the ratings on
Neftepolis.

Ratings information is available to subscribers of RatingsDirect
at http://www.ratingsdirect.com. It can also be found at
http://www.standardandpoors.com. Alternatively, call one of the
following Standard & Poor's numbers: Client Support Europe (44)
20-7176-7176; London Press Office Hotline (44) 20-7176-3605;
Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm
(46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the
media may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  STANDARD AND POOR'S RATING SERVICES
          Group E-mail Address
          InsuranceInteractive_Europe@standardandpoors.com


OKLADNENSKIY: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------------
The Arbitration Court of Volgograd region has commenced
bankruptcy supervision procedure on agricultural company
Okladnenskiy.  Mr. D. Bogdanov has been appointed temporary
insolvency manager.  Creditors may submit their proofs of claim
to 400001, Russia, Volgograd, Klinskaya Str. 38-2.  A hearing
will take place on Aug. 11, 2005, 8:15 a.m.

CONTACT:  Mr. D. Bogdanov
          Temporary Insolvency Manager
          400001, Russia, Volgograd region,
          Klinskaya Str. 38-2


PASSENGER TRANSPORT: Succumbs to Bankruptcy
-------------------------------------------
The Arbitration Court of Chelyabinsk region commenced bankruptcy
proceedings against Passenger Transport after finding the state-

owned enterprise insolvent.  The case is docketed as A76-
8334/05-52-72.  Mr. S. Vasilyev has been appointed insolvency
manager.

CONTACT:  PASSENGER TRANSPORT
          456320, Russia, Chelyabinsk region,
          Miass, Turgoyakskoye Shosse

          Mr. S. Vasilyev
          Insolvency Manager
          456217, Russia, Chelyabinsk region,
          Zlatoust, Post User Box 1431


SORMOVSKIY: Names A. Raspopin Insolvency Manager
------------------------------------------------
The Arbitration Court of Nizhniy Novgorod region has commenced
bankruptcy supervision procedure on open joint stock company
Sormovskiy.  The case is docketed as A43-4271/2005-18-70.  Mr.
A. Raspopin has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) SORMOVSKIY
    606574, Russia, Nizhniy Novgorod region,
    Kovernitskiy region, Semino, Fabrichnaya Str. 1

(b) Temporary Insolvency Manager
    606574, Russia, Nizhniy Novgorod region,
    Kovernitskiy region, Semino, Fabrichnaya Str. 1

(c) The Arbitration Court of Nizhniy Novgorod region
    603082, Russia, N. Novgorod,
    Kremlin, building 9

A hearing will take place on Aug. 30, 2005, 3:30 p.m.


TVERSKAYA: Deadline for Proofs of Claim August 25
-------------------------------------------------
The Arbitration Court of Tver region commenced bankruptcy
proceedings against Tverskaya (TIN/KPP 6904022993/690401001)
after finding the sewing company insolvent.  The case is
docketed as A66-687/2005.  Ms. G. Petrova has been appointed
insolvency manager.  Creditors have until August 25, 2005 to
submit their proofs of claim to 170011, Russia, Tver, 1st Str.
Za liniej OZHD, 2.

CONTACT:  TVERSKAYA
          170001, Russia, Tver region,
          Dvor Proletarki

          Ms. G. Petrova
          Insolvency Manager
          170011, Russia, Tver region,
          1st Str. Za liniej OZHD, 2
          Phone: 42-38-67


VIKHOREVSKIY TIMBER: Auctioning Assets Next Month
-------------------------------------------------
The insolvency manager and bidding organizer of open joint stock
company Vikhorevskiy Timber Combine will sell its property on
Aug. 4, 2005, 10:00 a.m.  The public auction will take place at
665719, Russia, Irkutsk region, Bratsk, Komsomolskaya Str. 43A.

The assets for sale are:

Lot 1: a piece of property for a starting price of
       RUB10,028,017;

Lot 2: a piece of property for a starting price of RUB154,000;

Lot 3: a building for a starting price of RUB165,000;

Lot 4: another building for a starting price of RUB93,000;

Lot 5: a piece of equipment for a starting price of RUB692,000.

Preliminary examination and reception of bids are done daily
from 9:00 a.m. to 5:00 p.m. on or before Aug. 1, 2005.  The list
of documentary requirements is available at 665719, Russia,
Irkutsk region, Bratsk, Komsomolskaya Str. 43A.  To participate,
bidders must deposit an amount equivalent to 20% of the starting
price to the settlement account 40702810600000000743 in LLC
PromServiceBank, Bratsk, BIC 042511790, correspondent account
30101810200000000790.

CONTACT:  VIKHOREVSKIY TIMBER COMBINE
          665719, Russia, Irkutsk region,
          Bratsk, Komsomolskaya Str. 43A

          Ms. V. Oblomkova
          Insolvency Manager/Bidding Organizer
          665719, Russia, Irkutsk region,
          Bratsk, Komsomolskaya Str. 43A
          Phone: (3953) 41-42-67


YUKOS OIL: Court Returns Sibneft Stake to Major Shareholders
------------------------------------------------------------
Moscow's Basmanny court released the 14.5% of Sibneft shares
remaining on Yukos' balance sheet that it previously seized, a
source close to the trial told RIA Novosti Wednesday.

A representative of Sibneft, Russia's fifth largest oil
producer, confirmed that the shares had been released and
already distributed among Sibneft's major shareholders.

On November 3, 2004, the court ordered a seizure of the shares
to compensate for damages that Irina Golub, the chief accountant
of the Yukos FBTs open joint stock company, had inflicted on the
state through tax evasion from 2000-2003.

Shareholders of Sibneft and Yukos announced the companies'
merger complete on October 3, 2003.  The merger partly involved
Yukos' new issue of shares, which was replaced by a 57.5% stake
in Sibneft.  Another 14.5% of Sibneft securities covered 8.8% of
Yukos shares, and a 20% stake in Sibneft was acquired for $3
billion.  As a result of the deal, Yukos gained 92% of Sibneft
shares, with the latter holding a 26% stake in Yukos.  Later,
the merger deal was canceled.

In March 2004, Moscow's arbitration court voided the additional
issue of Yukos shares, which had covered the 57.5% stake in
Sibneft, thereby returning the shares to Sibneft's major
shareholders.

An arbitration court of the Chukot autonomous area ordered Yukos
to return 14.5% of Sibneft shares to its major shareholders in
exchange for 8.8% of its own securities, which allowed Sibneft's
shareholders to resume control of its 72% stake.

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

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


YURYUZANSKIY ENGINEERING: Public Auction Set Today
--------------------------------------------------
The insolvency manager and bidding organizer of open joint stock
company Yuryuzanskiy Engineering Plant will sell its property on
July 26, 2005, 11:00 a.m.  The public auction will take place at
Russia, Chelyabinsk, Svobody Str. 76, 2.  Up for sale ate
buildings, transport carriers and equipment for a starting price
of RUB20,000,000.

The list of documentary requirements is available at Russia,
Chelyabinsk, Svobody Str. 76, 2.  To participate, bidders must
deposit RUB1,400,000 to the settlement account
40702810700090005543 in OJSC Chelyab-invest-bank, Chelyabinsk,
BIC 047501779, correspondent account 30101810400000000779.

CONTACT:  YURYUZANSKIY ENGINEERING PLANT
          456100, Russia, Chelyabinsk region, Yurozan,
          Varganova Str. 1, Ostovskogo Str. 2a,
          Lenina Str. 101, Goncharova Str. 1a

          Insolvency Manager/Bidding Organizer
          Russia, Chelyabinsk,
          Svobody Str. 76, 2
          Phone: (351) 265-91-04


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


AVANZIT SA: Returns First-half Operating Result to Black
--------------------------------------------------------
Avanzit S.A. has reversed last year's first-half operating loss
with a positive result of EUR1.53 million this year.  The loss
last year was EUR1.15 million.

Net profit fell to EUR3.6 million from EUR113.1 million, despite
sales growing 19.2% to EUR87.3 million, according to AFX.  This
was because last year's result was hit by the temporary
receivership of some of the group's units.

A slump in the telecom sector and cutbacks in spending by main
customer Telefonica drove phone sales down.  After failing to
reach a restructuring agreement with creditors, it filed for
receivership in 2002.  It emerged last year from receivership
via a debt-for-equity swap.

CONTACT:  AVANZIT S.A.
          C/Alcala 518
          28027 Madrid
          Phone: +34 91 754 67 00
          Fax: +34 91 754 67 24
          E-mail: info.avanzit@avanzit.com
          Web site: http://www.avanzit.com


=====================
S W I T Z E R L A N D
=====================


SWISS INTERNATIONAL: Names Trustees for 'Darbada Foundation'
------------------------------------------------------------
The SWISS International Board of Directors has appointed the
members of the Board of Trustees for the Swiss Air Transport
Foundation.  Bruno Gehrig will serve as chairman of the
foundation.  The four other trustees are Raymond Cron, Thomas
Bieger, Claudio Generali and Conrad Meyer.  The foundation's
mandate is to support the development of air transport and its
infrastructure in Switzerland.  SWISS will establish the
foundation under Swiss law in the coming weeks.  The foundation
is to exist for ten years.

The five members of the Swiss Air Transport Foundation (hitherto
known by its working title 'Darbada Foundation') have been
determined by the SWISS Board of Directors after consultation
with key stakeholders.  Raymond Cron will represent the Swiss
Confederation and Conrad Meyer will represent Canton Zurich. The
SWISS Board of Directors further named as trustees Bruno Gehrig,
Thomas Bieger and Claudio Generali.  Bruno Gehrig will serve as
the foundation's chairman.

Pieter Bouw, Chairman of the SWISS Board of Directors commented:
"I am pleased that we have succeeded in appointing top-quality
Swiss personalities to the foundation's Board of Trustees.  The
foundation will play an important advisory role in representing
Switzerland's interests during the integration of SWISS in the
Lufthansa airline group.  Beyond this, it will also endeavor to
ensure air transport connectivity for Switzerland."

                        Board of Trustee

(a) Bruno Gehrig

     Doctorate in Economics
     Chairman of the Board of Directors of Swiss Life Group, and
     Deputy chairman of the Board of Directors of Roche Holding

Following his academic career as a Professor of Business
Administration at the University of St. Gallen, Gehrig, 59, was
a member of the Governing Board of the Swiss National Bank from
1996 to 2003.  On the political front he served as chairman of
the economic policy study group for Switzerland's Christian
Democratic Party (CVP) from 1984 to 1991.

(b) Thomas Bieger

    Doctorate in Economics, is Professor and
    Director of the Institute of Public Services and Tourism at
      the University of St. Gallen

Mr. Bieger, 44, also holds a teaching post at the University of
Lugano and is a member of the Board of Directors of Jungfrau
Holding AG.

(c) Raymond Cron

    Director of the Federal Office for Civil Aviation (BAZL)

Mr. Cron, 46, holds a degree in civil engineering from the
Federal Institute of Technology (ETH).  Before joining the
Federal Office for Civil Aviation in May 2004, he spent seven
years with the Batigroup in an executive function.

(d) Claudio Generali, M.B.A,

    Current deputy chairman of the SWISS Board of Directors and
    was until recently chairman of the Board of Directors of the
    Banca del Gottardo

Mr. Generali, 62, is deputy chairman of the Board of Directors
of the Swiss Broadcasting Corporation and also holds
directorships with Batigroup and Schindler Elettronica.

(e) Conrad Meyer

    Doctorate in Economics, Professor and Director of the
    Institute for Accounting and Controlling at the University
    of Zurich since 1991

Mr. Meyer, 55, also serves on various expert bodies and
corporate boards, among them that of the NZZ Group, of which he
is chairman.

An observer to be determined by Lufthansa will also take part in
the foundation's meetings.

Purpose of the foundation

The Swiss Air Transport Foundation will support the development
of air transport and its infrastructure in Switzerland, with an
emphasis on connectivity.  The foundation will also support the
integration of SWISS into the Lufthansa airline group and in
this way endeavor to ensure that Switzerland's interests are
given due consideration.  To this end the foundation will
convene several yearly meetings with the SWISS Board of
Directors and the airline's Management Board at which it will
gather information on all topics relevant to SWISS.  The
foundation's mandate permits it to express its views on general
issues relating to air transport in Switzerland.

The Swiss Air Transport Foundation is further mandated to make
non-binding, confidential recommendations to SWISS and Lufthansa
management on topics of strategic importance to SWISS.

SWISS Board of Directors

The process of integrating SWISS into the Lufthansa Group will
involve an extraordinary general meeting of shareholders that
will take place during the third quarter, at which the Board of
Directors is to be reduced from eight to five members.  Two of
the five members will be determined by Lufthansa, the other
three by the Almea Foundation.  Following Lufthansa's complete
acquisition of SWISS, this entitlement is to be reduced to two
members.  Following the completion of the take-over by
Lufthansa, the Swiss Air Transport Foundation assumes the
entitlement to nominate two Swiss members of the SWISS Board of
Directors. It retains this entitlement for three election
periods of three years each.

The Foundation is further entitled to nominate one member of the
Lufthansa Supervisory Board.

CONTACT:  SWISS INTERNATIONAL
          Corporate Communications
          Phone: +41 (0) 848 773 773
          Fax: +41 61 582 35 54
          E-mail: communications@swiss.com
          Web site: http://www.swiss.com


===========
T U R K E Y
===========


TEKFENBANK AS: Assigned B2/NP/E+ Ratings by Moody's
---------------------------------------------------
Moody's Investors Service has assigned first-time B2/Not-Prime
(NP) foreign currency deposit ratings and an E+ Financial
Strength Rating (FSR) to Turkey's Tekfenbank A.S.  The outlook
on the FSR is stable, while the outlook on the bank's long-term
foreign-currency deposit rating is positive, in line with the
positive outlook on the country ceiling for such deposits in
Turkey.

According to Moody's, Tekfenbank's E+ FSR reflects the bank's
good overall financial metrics, underscored by its high levels
of capital, sound liquidity profile, and good asset quality.
The FSR also reflects the bank's prudent risk management
culture, which includes the maintenance of extremely high levels
of capital and liquid assets -- even at the expense of
profitability -- in addition to the absence of large related-
party exposures and the lack of significant speculative open
foreign currency positions that are often characteristic of
Turkish banks.

At the same time, however, Moody's notes that these favorable
characteristics are heavily outweighed by the bank's very low,
and declining earning power, its somewhat limited franchise
value, very small scale, poor efficiency indicators and
relatively high cost base.  Moreover, the bank's relatively
short operating life span as a commercial bank -- which has been
limited to an improving operating environment -- and sole focus
on Turkey's SME market further weigh on the bank's FSR.

The bank's E+ FSR is currently in the upper range of its
category.  Consequently, the FSR implies considerably more
upside than downside.  A sustained trend of improving core
earnings, which does not significantly increase the bank's risk
profile, would be very likely to result in an upgrade to the
bank' FSR.

Tekfenbank's long- and short-term foreign deposit ratings, B2
and NP, respectively, are at the country ceiling for such
deposits in Turkey.  In an unconstrained operating environment,
the bank's B2 deposit rating would be slightly higher.

Headquartered in Istanbul, Turkey, Tekfenbank A.S. reported
total assets of TRL603.2 trillion (US$450.3 million) at December
31, 2004.

CONTACT:  MOODY'S INVESTORS SERVICE CYPRUS LIMITED (LIMASSOL)
          Mardig Haladjian, General Manager
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          Boyd Anderson, Analyst
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


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


GORYANIVSKE: Court Names Irina Senchenko Insolvency Manager
-----------------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Goryanivske (code EDRPOU 30670062) on April
5, 2005 after finding the limited liability company insolvent.
The case is docketed as B 24/55/05.  Ms. Irina Senchenko
(License Number AA 116194) has been appointed
liquidator/insolvency manager.  The company holds account number
26004054830100 at JSPPB Aval, Dnipropetrovsk regional branch,
MFO 305653.

CONTACT:  GORYANIVSKE
          49000, Ukraine, Dnipropetrovsk region,
          Savkin Str. 6/96

          Ms. Irina Senchenko
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region,
          Petrovskij Avenue, 50-a/33
          Phone: 8 (056) 371-30-74

          ECONOMIC COURT OF DNIPROPETROVSK REGION
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


KONYAKI KAVKAZU: Declared Insolvent
-----------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Konyaki Kavkazu (code EDRPOU 32424056) on
June 23, 2005 after finding the limited liability company
insolvent.  The case is docketed as 24/138-b.  Mr. V. Krikun has
been appointed liquidator/insolvency manager.  The company holds
account number 26008001301445 at JSCB Rajffajzenbank of Ukraine,
MFO 300528.

CONTACT:  KONYAKI KAVKAZU
          Ukraine, Kyiv region,
          Simyi Sosninih Str. 7-A

          Mr. V. Krikun
          Liquidator/Insolvency Manager
          Phone: (044) 244-44-89

          ECONOMIC COURT OF KYIV REGION
          01030, Ukraine, Kyiv region,
          B. Hmelnitskij Boulevard, 44-B


LADIZHINSKE STO: Under Bankruptcy Supervision
---------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
supervision procedure on LLC Ladizhinske Sto (code EDRPOU
13338226) on May 26, 2005.  The case is docketed as 5/85-05.
Mr. Vitalij Bolhovitin (License Number AA 630030) has been
appointed temporary insolvency manager.

CONTACT:  LADIZHINSKE STO
          Ukraine, Vinnitsya region,
          Torez district, Ladizhin

          Mr. Vitalij Bolhovitin
          Temporary Insolvency Manager
          Ukraine, Vinnitsya region,
          Hmelnitske Shose Str. 2a, 602
          Phone: (0432) 52-03-41

          ECONOMIC COURT OF VINNITSYA REGION
          21100, Ukraine, Vinnitsya region,
          Hmelnitske Shose, 7


OBRIJ: Bankruptcy Supervision Starts
------------------------------------
The Economic Court of Mikolaiv region commenced bankruptcy
supervision procedure on Agricultural LLC Obrij (code EDRPOU
30738811).  The case is docketed as 5/106.  Ms. Natalya
Harchenko (License Number AB 216834) has been appointed
temporary insolvency manager.  The company holds account number
260033524 at JSPPB Aval, Mikolaiv regional branch, MFO 326182.

CONTACT:  OBRIJ
          57001, Ukraine, Mikolaiv region,
          Veselinivskij district, Porichya

          Ms. Natalya Harchenko
          Temporary Insolvency Manager
          Ukraine, Mikolaiv region,
          Voznesensk, 60-richya Zhovtnya Str. 16/22

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


SNYATIN' CHEESE: Declared Bankrupt
----------------------------------
The Economic Court of Ivano-Frankivsk region commenced
bankruptcy supervision procedure on OJSC Snyatin' Cheese Plant
(code EDRPOU 445742) on June 6, 2005.  The case is docketed as
B-14/155.  Mr. S. Lototskij (License Number AA 779339) has been
appointed temporary insolvency manager.

CONTACT:  SNYATIN' CHEESE PLANT
          Ukraine, Ivano-Frankivsk region,
          Snyatin, Hronovich Str. 3

          Mr. S. Lototskij
          Temporary Insolvency Manager
          76000, Ukraine, Ivano-Frankivsk region,
          Shevchenko Str. 9

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


SOKIL: Insolvency Manager Takes over Operations
-----------------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
proceedings against Agricultural LLC Sokil (code EDRPOU
02777477) on April 12, 2005 after finding the limited liability
company insolvent.  Department of Pension Fund of Stara Sinyava
district has been appointed liquidator/insolvency manager.

CONTACT:  SOKIL
          31400, Ukraine, Hmelnitskij region,
          Stara Sinyava, Vatutin Str. 70

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


TEHCONSULTING IMPEKS: Files for Bankruptcy
------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Tehconsulting Impeks (code EDRPOU 21604038)
after finding the limited liability company insolvent.  The case
is docketed as 24-205-b.  Mr. V. Korolenko (License Number AA
250432) has been appointed liquidator/insolvency manager.

CONTACT:  TEHCONSULTING IMPEKS
          Ukraine, Kyiv region,
          Turgenivska Str. 38

          ECONOMIC COURT OF KYIV REGION
          01030, Ukraine, Kyiv region,
          B. Hmelnitskij Boulevard, 44-B


TEHCONSULTING KVALITET: Succumbs to Liquidation
-----------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Tehconsulting Kvalitet (code EDRPOU
24364907) after finding the limited liability company insolvent.
The case is docketed as 24-206-b.  Mr. V. Korolenko (License
Number AA 250432) has been appointed liquidator/insolvency
manager.

CONTACT:  TEHCONSULTING KVALITET
          Ukraine, Kyiv region,
          Mala Zhitomirska Str. 20-v

          ECONOMIC COURT OF KYIV REGION
          01030, Ukraine, Kyiv region,
          B. Hmelnitskij Boulevard, 44-B


UKRENERGOSERVICE: Court Appoints Temporary Insolvency Manager
-------------------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on LLC Ukrenergoservice (code EDRPOU
32446174).  The case is docketed as 173/2 b-2005.  The company
holds account number 2600230106046 at Prominvestbank, MFO
300012.  Mr. Neverov Arkadij has been appointed temporary
insolvency manager.

CONTACT:  UKRENERGOSERVICE
          08132, Ukraine, Kyiv region,
          Vishneve, Kyivska Str. 17

          Mr. Neverov Arkadij
          Temporary Insolvency Manager
          Ukraine, Kyiv region,
          N. Uzhvij Str. 7/178

          ECONOMIC COURT OF KYIV REGION
          01033, Ukraine, Kyiv region,
          Zhilyanska Str. 58 b


VAZARI: Mikolaiv Court Opens Bankruptcy Proceedings
---------------------------------------------------
The Economic Court of Mikolaiv region commenced bankruptcy
proceedings against LLC VAZARI (code EDRPOU 32819169) on June
16, 2005 after finding the limited liability company insolvent.
The case is docketed as 14/145.  Ms. Inna Zhivotovska (License
Number AA 419488) has been appointed liquidator/insolvency
manager.

CONTACT:  Ms. Inna Zhivotovska
          Liquidator/Insolvency Manager
          54001, Ukraine, Mikolaiv region,
          Gromadyanska Str. 93

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


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


A & B DEMOLITION: Inland Revenue Moves to Wind up Firm
------------------------------------------------------
In the Matter of A & B Demolition Ltd.
and in the Matter of the Insolvency Act 1986

A Petition to wind up A & B Demolition of 4A Roman Road, East
Ham, London E6 3RX, presented on 6 June 2005 by the
Commissioners of Inland Revenue of Somerset House, Strand,
London WC2R 1LB, claiming to be Creditors of the Company, will
be heard at the Royal Courts of Justice, Strand, London WC2A
2LL, on 27 July 2005, at 1030 hours (or as soon thereafter as
the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, contact name Tahera Jaunmahomed,
telephone 020 7438 7645.  (Ref SLR 1201555/37/G.)


ACCESS RESPONSE: Files for Liquidation
--------------------------------------
Name of Company: Access Response Ltd.

Trading Name: Access Response Ltd.

Company Registration Number: 04839596

Address of Registered Office: 143 Seabrook Road, Hythe, Kent,
Ct21 5RB

Court: High Court Of Justice

Date of Filing Petition: February 2, 2005

No. of Matter: 00717 of 2005.

Date of Winding-up Order: June 29, 2005

Official Receiver's Address: 4th Floor, Clarkson House, Rhodaus
Town, Canterbury, Kent, CT1 2RZ


ACTION ROD: Inland Revenue Seeks Firm's Winding-up
--------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court.  No 3904 of 2005

In the Matter of ACTION ROD SQUAD LIMITED
and in the Matter of the Insolvency Act 1986

A Petition to wind up Action Rod Squad Limited of 3rd Floor,
Howard House, Queens Avenue, Clifton, Bristol BS8 1QT, presented
on 14 June 2005 by the Commissioners of Inland Revenue of
Somerset House, Strand, London WC2R 1LB, claiming to be
Creditors of the Company, will be heard at the Royal Courts of
Justice, Strand, London WC2A 2LL, on 27 July 2005, at 1030 hours
(or as soon thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7572.  (Ref SLR
1203697/37/A/ST.)


ADVANCED ADHESIVE: Inland Revenue Requests Liquidation
------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court. No. 3896 of 2005

In the Matter of Advanced Adhesive Products Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Advanced Adhesive of 12 Berkeley Court,
Runcorn, Cheshire WA7 1TK, presented on 13 June 2005 by the
Commissioners of Inland Revenue of Somerset House, Strand,
London WC2R 1LB, claiming to be Creditors of the Company, will
be heard at the Royal Courts of Justice, Strand, London WC2A
2LL, on 27 July 2005, at 1030 hours (or as soon thereafter as
the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7723.  (Ref SLR
1183817/37/Z.)


AIRSOFT LIMITED: High Court to Hear Winding-up Petition
-------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court.  No 3842 of 2005

In the Matter of Airsoft Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Airsoft Limited of 267 Yeading Lane,
Hayes, Middlesex UB4 9AE, presented on 10 June 2005 by the
Commissioners of Inland Revenue of Somerset House, Strand,
London WC2R 1LB, claiming to be Creditors of the Company, will
be heard at the Royal Courts of Justice, Strand, London WC2A
2LL, on 27 July 2005, at 1030 hours (or as soon thereafter as
the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7645.  (Ref SLR
1065867/37/G.)


A. J. FABRICATION: Winding-up Hearing Set Wednesday
---------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court. No. 3769 of 2005

In the Matter of A. J. Fabrication Services Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up A. J. Fabrication of Units 1-4, Berthllwyd
Trading Estate, Gowerton Road, Gowerton, Swansea SA4 3RB,
presented on 9 June 2005 by the Commissioners of Inland Revenue
of Somerset House, Strand, London WC2R 1LB, claiming to be
Creditors of the Company, will be heard at the Royal Courts of
Justice, Strand, London WC2A 2LL, on 27 July 2005, at 1030 hours
(or as soon thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7731.  (Ref SLR
1175415/37/W.)


A K & Y LIMITED: Court to Hear Winding-up Petition this Week
------------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court. No. 3135 of 2005

In the Matter of A K & Y LIMITED
and in the Matter of the Insolvency Act 1986

A Petition to wind up the above-named Company of Noble House,
37A Peel Road, North Wembley, Middlesex HA9 7LY, presented on 13
May 2005 by the Commissioners of Inland Revenue of Somerset
House, Strand, London WC2R 1LB, claiming to be Creditors of the
Company, will be heard at the Royal Courts of Justice, Strand,
London WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon
thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 6268.  (Ref SLR
1206500/37/U.)


ALESSANDRO PUBLIC: Winding-up Hearing Set Next Month
----------------------------------------------------
In the High Court of Justice (Chancery Division)
Bristol District Registry No. 2471 of 2005

In the Matter of Alessandro Public Limited Company
and in the Matter of the Insolvency Act 1986

A Petition to wind up the above-named Company, having its
registered office at Cobham Murphy, 116 Duke Street, Liverpool,
Merseyside L1 5JW, presented on 14 June 2005 by the
Commissioners for Her Majesty's Revenue and Customs (formerly HM
Customs and Excise) of Civil Recovery Unit, 3rd Floor NW, Queens
Dock, Liverpool L74 4BJ, claiming to be a Creditor of the
Company, will be heard by the Bristol District Registry, at The
Guildhall, Small Street, Bristol, on 3 August 2005, at 1000
hours (or as soon thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 1600 hours on 2 August 2005.

The Solicitors to the Petitioning Creditor are Clarke Willmott,
Blackbrook Gate, Blackbrook Park Avenue, Taunton TA1 2PG,
telephone 01823 445332, facsimile 01823 445805.  (Ref
X0010334/CO1.)


ALEXANDER-WYATT: High Court Accepts Winding-up Petition
-------------------------------------------------------
Name of Company: Alexander-Wyatt Ltd.

Company Registration Number: 05030626

Address of Registered Office: 14 Farmfiled Drive, Tytherington,
Macclesfield, Cheshire, SK10 2TJ

Court: High Court Of Justice

Date of Filing Petition: May 16, 2005

No. of Matter: 003182 of 2005

Date of Winding-up Order: June 29, 2005

Official Receiver: Suite 5, 3rd Floor, Windsor House, Pepper
Street, Chester, CH1 1DF


ALPINE GLAZING: Royal Court to Hear Winding-up Petition
-------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court.  No 3902 of 2005

In the Matter of ALPINE GLAZING LIMITED
and in the Matter of the Insolvency Act 1986

A Petition to wind up Alpine Glazing of Unit 3, 9-11 Gleneldon
Road, Streatham, London SW16 2AX, presented on 14 June 2005 by
the Commissioners of Inland Revenue of Somerset House, Strand,
London WC2R 1LB, claiming to be Creditors of the Company, will
be heard at the Royal Courts of Justice, Strand, London WC2A
2LL, on 27 July 2005, at 1030 hours (or as soon thereafter as
the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7572.  (Ref SLR
1197684/37/A/IS.)


AMAZON HOMES: Official Receiver to Oversee Liquidation
------------------------------------------------------
Name of Company: Amazon Homes Ltd.

Company Registration Number: 04564571

Address of Registered Office: 2 Smithy Brook Road, Renishaw,
Sheffield, S21 3JS

Court: Leeds District Registry

Date of Filing Petition: April 28, 2005

No. of Matter: 461 of 2005.

Date of Winding-up Order: July 12, 2005

Official Receiver: 5th Floor, South Block, City Plaza, Pinfold
Street, Sheffield, S1 2GU.


ANOTHER PUB: Collapses into Liquidation
---------------------------------------
In the High Court of Justice (Chancery Division)
Bristol District Registry No. 2350 of 2005

In the Matter of Another Pub Company Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Another Pub, having its registered office
at Sovereign House, 7 Station Road, Kettering, Northamptonshire
NN15 7HH, presented on 3 June 2005 by the Commissioners for Her
Majesty's Revenue and Customs (formerly HM Customs and Excise)
of Civil Recovery Unit, 3rd Floor NW, Queens Dock, Liverpool L74
4BJ, claiming to be a Creditor of the Company, will be heard by
the Bristol District Registry, at The Guildhall, Small Street,
Bristol, on 27 July 2005, at 1000 hours (or as soon thereafter
as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 1600 hours on 26 July 2005.

The Solicitors to the Petitioning Creditor are Clarke Willmott,
Blackbrook Gate, Blackbrook Park Avenue, Taunton TA1 2PG,
telephone 01823 445328, facsimile 01823 445805.  (Ref
X0010001/CO1.)


APOLLO CONTRACT: Winding-up Hearing Set August
----------------------------------------------
In the Matter of Apollo Contract Services Limited and in the
Matter of the Insolvency Act 1986

A Petition to wind up the Apollo Contract Services Limited
presented on 14 June 2005 by Ryder PLC claiming to be a Creditor
of the Company, of 3 Acorn Business Centre, Northarbour Road,
Cosham, Portsmouth, Hampshire PO6 3TH, will be heard at the
Manchester District Registry, The Courts of Justice, 184
Deansgate, Manchester, on Monday 1 August 2005, at 10:00 a.m.
(or as soon thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitor in accordance with
Rule 4.16 by 4:00 p.m. on Friday 29 July 2005.

The Petitioner's Solicitor is Pannone & Partners, 123 Deansgate,
Manchester M3 2BU.  (Ref PCS/22138.)


AQUA SYSTEMS: Birmingham Court Okays Liquidation Petition
---------------------------------------------------------
Name of Company: Aqua Systems Bournemouth Ltd.

Company Registration Number-05086384

Address of Registered Office: 3 Cleveland Road, Bournemouth,
Dorset, BH1 4QB

Court: Birmingham District Registry

Date of Filing Petition: March 24, 2005

No. of Matter: 2285 of 2005

Date of Winding-up Order: July 4, 2005

Official Receiver: 1st Floor, Heliting House, 35 Richmond Hill,
Bournemouth, BH2 6HT


ASHTEAD GROUP: Completes Pricing of Senior Loan Notes
-----------------------------------------------------
On 7 July, Ashtead Group plc, the international equipment rental
group serving the construction, industrial and homeowner
markets, revealed a refinancing that includes:

(a) the underwritten Placing and Open Offer in respect of 73.4
    million New Ordinary Shares at 95.5 pence per share to raise
    GBP70 million;

(b) the raising of US$250 million (approximately GBP142
    million), before expenses, from the issue of New Senior Loan
    Notes by Ashtead Holdings plc.

Ashtead has now completed the marketing of the New Senior Loan
Notes and is pleased to confirm that they have priced [on
Thursday] at an interest rate of 8 5/8%.  This compares to the
indicative rate of 9% set out in the announcement made on 7
July.

Application will be made to the U.K. Listing Authority for the
New Senior Loan Notes to be admitted to the official list of the
U.K. Listing Authority and to the London Stock Exchange for the
New Senior Loan Notes to be admitted to trading on the London
Stock Exchange's Professional Securities Market.  Completion of
the Placing and Open Offer and issuance of the New Senior Loan
Notes are inter-conditional.  Completion is currently expected
to take place on 3 August.

Definitions used in the Prospectus sent to Shareholders dated 7
July 2005 shall have the same meanings when used in this
announcement, unless the context requires otherwise.

                            *   *   *

As reported by TCR-Europe on July 11, the company expects that
through the refinancing, it will be able to:

(a) improve its financial flexibility by satisfying early its
    obligations to repay [a GBP130 million] Convertible Loan
    Note, whilst realizing a discount of approximately 11%;

(b) further de-leverage the balance sheet;

(c) further extend the average debt maturity to approximately 7
    years;

(d) avoid the potential dilution to existing shareholders which
    would occur if the Convertible Loan Note were to convert
    into equity;

(e) redeem up to 35% of the Senior Loan Notes, which carry
    interest at a rate of 12%;

(f) broaden the investor base; and

(g) facilitate the payment of dividends in the future.

The Directors believe that the stronger capital base created by
the refinancing will provide the Company with significantly
greater flexibility in developing the Group over the coming
years.

This refinancing will complete the restructuring of the Group's
capital base, which commenced in April 2004 with the issue of
the Senior Loan Notes.  The revised arrangements provide a
secure long-term capital structure for Ashtead, which will
provide flexibility to the Company going forward and allow the
management to concentrate on the Group's strategic development.

(d) Effects of the refinancing

As a result of: (i) the repayment of the Convertible Loan Note
in full; (ii) the redemption of GBP42 million in principal
amount of the Senior Loan Notes; (iii) the issue of $250 million
(approximately GBP142 million) in principal amount of the New
Senior Loan Notes; and (iv) the raising of GBP66.2 million (net
of expenses) through the Placing and the Open Offer of the New
Ordinary Shares, the Company anticipates that its annual
interest charge under IFRS will be reduced.

Accordingly, taking into account the enlarged share capital, the
Directors expect the refinancing to be only modestly earnings
dilutive.

                            *   *   *

The Convertible Loan Note was issued to a subsidiary of Rentokil
Initial plc by Ashtead in part consideration for the acquisition
of BET USA, Inc. in June 2000.  It is redeemable at par on 31
March 2008 but under the terms of the Senior Secured Credit
Facility, must be refinanced by Ashtead prior to November 2007.

Ashtead has agreed the terms for the grant of an option with
Rentokil Initial plc to repay early the Convertible Loan Note in
its entirety for a total sum of GBP119.5 million plus all
outstanding accrued unpaid interest (assuming that the option is
exercised on or before 15 August 2005).

Registered in the U.K., Ashtead is a leading provider of rental
equipment in the U.K. and the U.S., through it's a-Plant and
Sunbelt subsidiaries.  As at financial year ending April 30,
2005, the group generated annual revenues of GBP523.7 million
and EBITDA of GBP169.7 million.  As at 30 April 2005, net debt
was GBP493.2 million.

CONTACT:  ASHTEAD GROUP PLC
          George Burnett, Chief Executive Officer
          Phone: 01372 362300

          The Maitland Consultancy
          Ian Robson, Finance Director
          Brian Hudspith
          Phone: 020 7379 5151
          Emma Burdett


ASPINALL PLC: Winding-up Hearing Set this Week
----------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3717 of 2005

In the Matter of Aspinall Plc
and in the Matter of the Insolvency Act 1986

A Petition to wind up Aspinall Plc of 100 Baker Street, London
W1U 6WG, presented on 8 June 2005 by the Commissioners of Inland
Revenue of Somerset House, Strand, London WC2R 1LB, claiming to
be Creditors of the Company, will be heard at the Royal Courts
of Justice, Strand, London WC2A 2LL, on 27 July 2005, at 1030
hours (or as soon thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, contact name Tahera Jaunmahomed,
telephone 020 7438 7645.  (Ref SLR 1122022/37/G.)


ASTEL HEALTH: Creditors Meeting Set Next Month
----------------------------------------------
In the Matter of Astel Health & Safety Ltd. and in the Matter of
the Insolvency Act 1986

A Petition to wind up the Astel Health & Safety Ltd. having its
registered office at 201 Sleaford Road, Boston, Lincolnshire
PE21 7PG, presented on 27 June 2005 by the Commissioners for Her
Majesty's Revenue and Customs (formerly HM Customs and Excise),
of Civil Recovery Unit, 3rd Floor NW, Queens Dock, Liverpool L74
4BJ, claiming to be a Creditor of the Company, will be heard by
the Bristol District Registry, at The Guildhall, Small Street,
Bristol, on 17 August 2005, at 10:00 a.m. (or as soon thereafter
as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 4:00 p.m. on 16 August 2005.

The Solicitors to the Petitioning Creditor are Clarke Willmott,
Blackbrook Gate, Blackbrook Park Avenue, Taunton TA1 2PG,
telephone 01823 445332, facsimile 01823 445805.  (Ref
X0010324/CO1.)


ATLANTIC ENERGY: Inland Revenue Seeks Liquidation
-------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court.  No 3716 of 2005

In the Matter of Atlantic Energy Services Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Atlantic Energy of 187 High Road, Leyton,
London E15 2BY, presented on 8 June 2005 by the Commissioners of
Inland Revenue of Somerset House, Strand, London WC2R 1LB,
claiming to be Creditors of the Company, will be heard at the
Royal Courts of Justice, Strand, London WC2A 2LL, on 27 July
2005, at 1030 hours (or as soon thereafter as the Petition can
be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 6268.  (Ref SLR
1211712/37/U/ST.)


ATOM HR: Leeds Court Accepts Winding-up Petition
------------------------------------------------
Name of Company: Atom HR Limited

Company Registration Number:04147781

Address of Registered Office: Atom Hr Limited, Newby Castleman,
3 Pelham Court, Pelham Road, Nottingham, NG5 1AP

Court: Leeds District Registry

Date of Filing Petition: May 25, 2005

No. of Matter: 562 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver: The Frontage, 4th Floor, Queen Street,
Nottingham, NG1 2BL


AUBERGINE ADVERTISING: Review of Winding-up Petition Set August
---------------------------------------------------------------
In the High Court of Justice (Chancery Division)
Bristol District Registry No. 2482 of 2005

In the Matter of Aubergine Advertising Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Aubergine Advertising, having its
registered office at No 10, 63 Gray's Inn Road, London WC1X 8TL,
presented on 14 June 2005 by the Commissioners for Her Majesty's
Revenue and Customs (formerly HM Customs and Excise) of Civil
Recovery Unit, 3rd Floor NW, Queens Dock, Liverpool L74 4BJ,
claiming to be a Creditor of the Company, will be heard by the
Bristol District Registry, at The Guildhall, Small Street,
Bristol, on 3 August 2005, at 1000 hours (or as soon thereafter
as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 1600 hours on 2 August 2005.

The Solicitors to the Petitioning Creditor are Clarke Willmott,
Blackbrook Gate, Blackbrook Park Avenue, Taunton TA1 2PG,
telephone 01823 445332, facsimile 01823 445805.  (Ref
X0010233/CO1.)


BANDLER LIMITED: Winding-up Hearing Set Tomorrow
------------------------------------------------
In the Matter of Bandler Limited (Registered No 2980523) and in
the Matter of the Insolvency Act 1986

A Petition to wind up of the Bandler Limited, Teddington
Studios, Broom Road, Teddington, Middlesex TW11 9NT, presented
on 25 May 2005 by Mundays (a firm), will be heard at the Royal
Courts of Justice, Strand, London WC2A 2LL, on 27 July 2005, at
10:30 a.m. (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitor in accordance with
Rule 4.16 by 4:00 p.m. on 26 July 2005.

The Petitioner's Solicitor is Mundays, Cedar House, 78
Portsmouth Road, Cobham, Surrey KT11 1AN.  (Ref OJJ/34667-1.)


BAYMOVER LTD.: Creditors to Meet Tomorrow
-----------------------------------------
In the Matter of Baymover Ltd. and in the Matter of the
Insolvency Act 1986

A Petition to wind up the Baymover Ltd. of Seymour Chambers, 92
London Road, Liverpool, presented on 9 May 2005 by Ashwood Fine
Foods Limited, OPM Labels of c/o Direct Route Collection Ltd.,
Tong Hall, Tong, West Yorkshire, claiming to be a Creditor of
the Company, will be heard at Royal Courts of Justice, Strand,
London WC1A 1AA, on 27 July 2005, at 10:30 a.m. (or as soon
thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitor in accordance with
Rule 4.16 by 4:00 p.m. on 26 July 2005.

The Petitioner's Solicitor is Lees Lloyd Whitley, Castle
Chambers, 43 Castle Street, Liverpool L2 9TJ.  (Ref 125036.)


BEDZ-R-UZ LIMITED: Court to Review Winding-up Petition this Week
----------------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No 3903 of 2005

In the Matter of Bedz-R-Uz Limited and
in the Matter of the Insolvency Act 1986

A Petition to wind up Bedz-R-Uz Limited of 1 Sterling Works,
Love Lane, Cirencester GL7 1YG, presented on 14 June 2005 by the
Commissioners of Inland Revenue of Somerset House, Strand,
London WC2R 1LB, claiming to be Creditors of the Company, will
be heard at the Royal Courts of Justice, Strand, London WC2A
2LL, on 27 July 2005, at 1030 hours (or as soon thereafter as
the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7645.  (Ref SLR
1112689/37/G/IS.)


B.J.I. INTERNATIONAL: Creditor Files Winding-up Petition
--------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3651 of 2005

In the Matter of B.J.I. International Ltd.
(Company Reg No 2955828)
and in the Matter of the Insolvency Act 1986

A Petition to wind up B.J.I. International of 17 Featherstone
Road, Southall, Middlesex UB2 5AA, presented on 3 June 2005 by
The London Borough of Tower Hamlets, Town Hall, Mulberry Place,
5 Clove Crescent, London E14 2BG, claiming to be a Creditor of
the Company, will be heard at the Royal Courts of Justice,
Strand, London WC2A 2LL, on 27 July 2005, at 1030 hours (or as
soon thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or their Solicitors in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioner's Solicitors are J.E. Baring & Co, First Floor,
63-66 Hatton Garden, London EC1N 8LE.  (Ref JAH/2818258.)
0116677023


BLUECHAIN LIMITED: Winding-up Hearing Set Wednesday
---------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3770 of 2005

In the Matter of Bluechain Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Bluechain Limited of Westgate Chambers, 8A
Elm Park Road, Pinner, Middlesex HA5 3LA, presented on 9 June
2005 by the Commissioners of Inland Revenue, of Somerset House,
Strand, London WC2R 1LB, claiming to be Creditors of the
Company, will be heard at the Royal Courts of Justice, Strand,
London WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon
thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioner's Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 6268.  (Ref SLR
1210011/37/U/IS.)


BOOTS GROUP: Non-executive Director Steps down After 4 Years
------------------------------------------------------------
Jan Bennink has stepped down as a non-executive Director from
the Board of Boots Group plc after the Annual General Meeting
held on 21 July 2005.

Sir Nigel Rudd, Chairman of Boots Group plc, said: "I would like
to thank Jan for all his hard work on behalf of the Company.  He
has played a significant role in helping the Group tackle the
challenges it faced and in addressing the need to be a more
modern, competitive and efficient business.  We wish him well
for the future."

Mr. Bennink (48) joined the Board in September 2001.

                            *   *   *

Boots Group plc is reportedly close to signing a sale and
leaseback agreement with Reit Asset Management, involving 300 of
its stores.

The retailer will reportedly use the proceeds, estimated
anywhere between GBP250 million and GPB350 million, to fund a 3-
year turnaround scheme that include a revamp of its IT systems,
reduction of prices and extension of opening hours.

Meanwhile, the company has opened its doors to bidders for the
GBP1.2 billion sale of its healthcare products venture, Boots
Healthcare International.  Boots put the unit on the block in
March to concentrate on its U.K. operations. Goldman Sachs,
which is handling the sale, aims to conclude a deal by first
quarter of 2006.

In May, the company revealed its major arm, Boots The Chemist,
showed no significant improvements, as big supermarket groups
continued to penetrate the pharmaceutical trade.  The unit,
which currently operates through 1,400 drugstores, is carrying
out price reductions and restructuring its supply chain.  Same-
store sales, which dropped 0.9% in April, is expected to grow by
only about 2%, while operating costs are predicted to increase
by 6%, with gross margin staying flat.

CONTACT:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com


BOOTS GROUP: Key Unit Reveals Small Drop in Sales
-------------------------------------------------
Richard Baker, Chief Executive of Boots Group PLC, said: "This
is a reasonable performance in a tough market, against our
strongest trading period last year.  Conditions on the high
street are difficult, competition is intense and there is
nothing to suggest this will change in the coming months.

"Our priority remains to reinvest in the business to build a
better Boots.  Good growth in our core markets demonstrates
progress in re-establishing our position as the health and
beauty expert.  Volume growth of 5% in Dispensing continues to
reflect our focus on healthcare although regulatory price
changes are deflating headline sales growth.  We are encouraged
by the customer response to our investment in new beauty halls
and own brand products with sales in Beauty up 6%.

"Underpinning all of our efforts will be close management of
costs and working capital and continued improvement of the
efficiency of our operations."

Boots The Chemists

Sales growth in Boots The Chemists in the quarter was 1.5%, -
0.8% like for like.  Recently opened stores are trading in line
with expectations and full year planning assumptions are
unchanged.

In Dispensing, items growth of 5% (4% underlying) builds on the
improved performance achieved in the last financial year.
Applications have been made for 35 new pharmacy licenses
following partial deregulation; 32 have already been approved,
of which three are now trading with the majority of the rest due
to open during Q2.

Volume growth in Dispensing is offset by price deflation of 5%
including both the effect on branded medicines of the recent
Pharmaceutical Price Regulation Scheme (PPRS) review (effective
1st February), and price reductions on some generic medicines
implemented last year and which have yet to anniversary.

The new Pharmacy contract came into force on 1st April.  This
reduces funding for medicine reimbursement but increases fees
for service provision and may introduce some volatility in
monthly Dispensing settlements while the new arrangements bed
in.  The likely full year impact of these regulatory changes
will be updated at the half year.

The quarter saw good performance in Beauty, with particularly
good growth in cosmetics.  Further investment will be made in
this core area with 30 new beauty halls planned over the
remainder of the year.  Over The Counter medicines and
Toiletries also performed well.  Sales were weaker in the
Lifestyle categories with continued decline in the photo market
and a slow start to summer ranges.

Overall, sales performance in BTC's non-pharmacy businesses has
remained at similar levels to those seen in February and March
although this has been against an increasingly competitive
background.

Boots Healthcare International

Boots Healthcare International (BHI) sales growth in the quarter
was 5.8% in Sterling, up 6.8% on a comparable basis.  Sales of
core brands were up 8.9%.

The proposed disposal of BHI is proceeding in line with plan and
is expected to complete within the current financial year.

CONTACT:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com


BRIAN JOHNSON: Inland Revenue Asks Bristol Court to Wind up Firm
----------------------------------------------------------------
In the Matter of Brian Johnson (Building Contractors) Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up the Brian Johnson (Building Contractors)
Limited having its registered office at 3 Spring Bank Gardens,
Lymm, Cheshire WA13 9GR, presented on 30 June 2005 by the
Commissioners of Her Majesty's Revenue and Customs (formerly HM
Customs and Excise), of Civil Recovery Unit, 3rd Floor NW,
Queens Dock, Liverpool L74 4BJ, claiming to be a Creditor of the
Company, will be heard by the Bristol District Registry, at The
Guildhall, Small Street, Bristol, on 24 August 2005, at 10:00
a.m. (or as soon thereafter as the Petition can be heard).
Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 4:00 p.m. on 23 August 2005.

The Solicitors to the Petitioning Creditor are Clarke Willmott,
Blackbrook Gate, Blackbrook Park Avenue, Taunton TA1 2PG,
telephone 01823 445332, facsimile 01823 445805.  (Ref
X0008050/CO1.)


BRITISH ENERGY: Results of Successor Firm Out Tomorrow
------------------------------------------------------
British Energy Group plc intends to release its preliminary
results for the two and a half months ended 31 March 2005 on
Wednesday 27 July 2005.

A presentation to analysts and institutional investors will take
place on Wednesday 27 July 2005 at 0900 hrs U.K. time.  This
presentation will be Web cast (http://www.british-energy.com)
and there will be an audio dial in, and playback facility
available for those investors unable to attend in person.  The
dial in details for this call are:


U.K. dial in:                      0845 146 2004
International dial in:      +44 (0) 1452 569 393
U.S. dial in:                      1 866 434 1089



There will also be a conference call for U.S. institutional
investors and bondholders at 1400 hrs U.K. time.  Dial in
details for this call are:

U.S. dial in:                                    1 866 434 1089
International dial in:                     +44 (0) 1452 569 393

The results will be for the period from the Company's
incorporation on 2 July 2004 until 31 March 2005.  However, the
results will reflect the two and a half-month operating
performance of the Company after the acquisition of British
Energy plc (the Acquired Group) on 14 January 2005.

Where appropriate it is intended to give information relating to
the nine and a half month-period to 14 January 2005 for the
Acquired Group and certain annual equivalent results for the 12
month period to 31 March 2005.  However, it is generally not
possible to compare the nine and a half-month results of the
Acquired Group and the two and a half-month results of the
Company due to the different basis of preparation before and
after the restructuring.

                            *   *   *

Headquartered in South Lanarkshire, British Energy plc is U.K.'s
largest electricity generator, producing 20% of the country's
power through its eight nuclear facilities in Scotland and
England (total capacity is 9,600 MW).  British Energy also owns
the 2,000-MW coal-fired plant (Eggborough) in England; it has
sold its North American power generation operations.

The company emerged as British Energy Limited with a new holding
company, British Energy group, after the court approved its
scheme of arrangement in January.  Under the program, existing
creditors of the group will receive 97.5% of equity in the new
group.

CONTACT:  BRITISH ENERGY
          John Searles, Investor Relations
          Phone: 01506 408 715

          FINANCIAL DYNAMICS, Media
          Andrew Dowler
          Phone: 020 7831 3113
          Web site: http://www.british-energy.com


CHS DRIVERS: Royal Court to Review Liquidation Petition
-------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 2981 of 2005

In the Matter of CHS Drivers Ltd.
and in the Matter of the Insolvency Act 1986

A Petition to wind up CHS Drivers of Coach Hire Services,
Station Road, Henfield, West Sussex BN5 9UP, presented on 9 May
2005 by the Commissioners of Inland Revenue, of Somerset House,
Strand, London WC2R 1LB, claiming to be Creditors of the
Company, will be heard at the Royal Courts of Justice, Strand,
London WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon
thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 6268.  (Ref SLR
1198620/37/U.)


COLERAINE F.C.: Receives Winding-up Order
-----------------------------------------
The High Court has served Coleraine football club with a
winding-up order last week, according to BBC News.  The matter
was adjourned to August 3.

Creditors of the club reportedly rejected an offer to pay just
three pence in the pound for debt.  The proposal would have
taken cared GBP600,000 of the club's GBP1 million debt.

Coleraine's two biggest creditors are the Inland Revenue, which
is owed several hundred thousand pounds, and the Sports Council.
It also owes the owners of the Coleraine Showgrounds, the North
Derry Agricultural Society, GBP30,000 for three years worth of
rent.  The society has already served the club with an eviction
notice.

CONTACT:  COLERAINE F.C.
          The Showgrounds
          Ballycastle Road
          Coleraine
          Phone: +44 02870 35 36 55
          Fax: +44 02870 32 91 88
          E-mail: info@colerainefc.com
          Web site: http://www.colerainefc.com/


COLT TELECOM: Turnover Defies Challenging Market
------------------------------------------------
COLT Telecom Group plc has said that it continued to make
progress in the implementation of its strategic plan, even
though markets remain challenging.

Second-quarter Highlights

Compared with Q1 2005:

(a) turnover increased by 3.1% to GBP316.7 million.  On a
    constant currency basis, turnover increased by 5.0%;

(b) gross margin before depreciation decreased by 0.4 of a
    percentage point to 33.6%;

(c) selling, general and administrative expenses were reduced by
    GBP1.9 million to GBP65.6 million;

(d) EBITDA increased by GBP3.7 million to GBP40.8 million;

(e) free cash outflow improved by GBP6.1 million to GBP9.8
    million; and

(f) India head count increased by more than 100 to just under
    400.

Compared with Q2 2004:

(a) turnover increased by 4.5%.  On a constant currency basis
    turnover increased by 3.1% and by 5.6% after also excluding
    reductions in fixed to mobile prices; and

(b) EBITDA (1) improved by GBP1.4 million despite the costs of
    the India transition.

The Company's financial position continues to be strong, with
cash and cash equivalents of GBP335.9 million at the end of the
quarter.

COLT Chairman Barry Bateman said: "Despite challenging markets,
we have grown revenues and improved EBITDA.  There is still much
hard work to be done to fully implement the strategic
initiatives we announced last October, but the foundations are
laid and hopefully we should now begin to see a return on our
efforts and continuing investment."

Jean-Yves Charlier, Chief Executive, said: "In the second
quarter we saw COLT return to growth with improvement in
turnover, earnings and cash flow.  These results are an
encouraging sign that our strategy is continuing to show early
results.

"Compared with the first quarter, second quarter revenues grew
in twelve out of thirteen COLT countries, led by a strong
performance in voice revenues.  Non-switched revenues grew more
slowly than we would like to have seen but we remain confident
that growth in these areas should accelerate as our sales
initiatives and new value add products are introduced.

"During the quarter we won a number of new and important
contracts.  We also enjoyed growing interest in our Ethernet
product range, where we have already signed 25 customers, in
VoIP for corporates and in COLT Total Plus, our LAN management
offering for mid-sized businesses.

"We are also planning to introduce during the third quarter a
converged voice and data offering for mid-sized businesses to
continue expanding our product portfolio.

"Overall, we are pleased with the progress on all the strategic
initiatives we announced last October.  While we are improving
our operational results and driving down our cost base, we
continue to make investments in new internal systems, in our
transaction processing center in India, where we now have almost
400 employees and the development of new products.

"We are on course to meet market expectations for revenue and
EBITDA.  We expect to be free cash flow positive in the second
half of the year but not necessarily for the year as a whole.
We are confident that we will be free cash flow positive on a
sustainable annual basis going forward."

Financial Review

Results for the quarter are reported under International
Financial Reporting Standards (IFRS).  Results for comparative
periods have been restated to conform to IFRS.  Unless otherwise
stated all comparisons are between the quarter and six months
ended 30 June 2005 and 30 June 2004.

A copy of the financial results is available free of charge at
http://bankrupt.com/misc/ColtTelecom(Q22005).mht

CONTACT:  COLT TELECOM GROUP PLC
          Web site: http://www.colt.net

          John Doherty
          Director Corporate Communications
          E-mail: jdoherty@colt.net
          Phone: +44 (0) 20 7390 3681

          Gill Maclean
          Head of Corporate Communications
          E-mail: gill.maclean@colt.net
          Phone: +44 (0) 20 7863 5314

          Henny Valder
          COLT
          Phone: + 44 (0) 20 7947 1610
          E-mail: henny.valder@colt.net


COOL MOVERS: Ralph Coleman Applies for Winding-up Order
-------------------------------------------------------
In the Matter of Cool Movers (Logistics) Limited and in the
Matter of the Insolvency Act 1986

A Petition to wind up the Cool Movers (Logistics) Limited of 31
Dashwood Avenue, High Wycombe, Buckinghamshire HP12 3DZ,
presented on 6 May 2005 by Ralph Coleman International Limited,
of Abels Way, Holly Industrial Estate, Atherstone, Warwickshire
CV9 2QX, claiming to be a Creditor of the Company, will be heard
at Aylesbury County Court, Second Floor, Heron House, 49
Buckingham Street, Aylesbury, Buckinghamshire HP20 2NQ, on 17
August 2005, at 10:00 a.m. (or as soon thereafter as the
Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitor in accordance with
Rule 4.16 by 4:00 p.m. on 16 August 2005.

The Petitioner's Solicitor is Blythe Liggins Solicitors, of
Edmund House, Rugby Road, Leamington Spa, Warwickshire CV32 6DL.


CROWN & TREATY: Receives Petition to Wind up
--------------------------------------------
                IN THE MATTER of Crown & Treaty

                              and

     IN THE MATTER OF The Insolvent Partnerships Order 1994

A Petition to wind up Ye Olde White Hart Crown & Treaty having
its principal place of business at 90 Oxford Road, Uxbridge,
Middlesex UB8 1LU, presented on June 2, 2005 by the
Commissioners for Her Majesty's Revenue and Customs (formerly HM
Customs and Excise) of Civil Recovery Unit, 3rd Floor NW, Queens
Dock, Liverpool L74 4BJ, claiming to be a Creditor of the
Partnership, will be heard by the Royal Courts of Justice,
Strand, London WC2A 2LL, on July 27, 2005, at 10:30 a.m.

Any person intending to appear on the hearing of the Petition,
whether in support or opposition, must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 4:00 p.m. on July 26, 2005.

CONTACT:  Clarke Willmott, Solicitors to Petitioning Creditor
          Blackbrook Gate,
          Blackbrook Park Avenue,
          Taunton TA1 2PG
          Phone: 01823 445286
          Fax: 01823 445805


C T M CONSTRUCTION: Inland Revenue Seeks Liquidation
----------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3666 of 2005

In the Matter of C T M Construction Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up C T M Construction of Quayside House, King
Edward Quay, Colchester, Essex CO2 8JB, presented on 3 June 2005
by the Commissioners of Inland Revenue, of Somerset House,
Strand, London WC2R 1LB, claiming to be Creditors of the
Company, will be heard at the Royal Courts of Justice, Strand,
London WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon
thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioners' Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7731.  (Ref SLR
1203312/37/W.)


DELTA FOODS: Delta Foods Wants Firm to Liquidate
------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 4187 of 2005

In the Matter of Delta Foods (UK) Limited (Company No 04412820)
and in the Matter of the Insolvency Act 1986

A Petition to wind up Delta Foods of Unit 2A 9 Batsworth Road,
Mitcham, Surrey CR4 3BX, presented on 24 June 2005 by Peter
Thompson Group PLC, a Creditor of the Company of 3-7 Central
Markets, London EC1A 9PQ, will be heard at the Royal Courts of
Justice, Strand, London WC2A 2LL, on 10 August 2005, at 10:30
a.m. (or as soon thereafter as the Petition can be heard).

Any person intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioner or its Solicitor in accordance with
Rule 4.16 by 1600 hours on 9 August 2005.

The Petitioner's Solicitor is Judge Sykes Frixou, 23 Kingsway,
London WC2B 6YF.  (Ref ME/MDA/P9105-1.)


D.H. EVANS: In Liquidation
--------------------------
Name of Company: D.H. Evans Property Maintenance Limited

Company Registration Number: 04222841

Address of Registered Office: 11 Humber Street, Hull, HU1 1TG

Court: Leeds District Registry

Date of Filing Petition: April 28, 2005

No. of Matter: 453 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver: Suite J, Anchor House, The Maltings,
Silvester Street, Hull, HU1 3HA


D.H. EVANS: Asset Manager Goes into Liquidation
-----------------------------------------------
Name of Company: D.H. Evans Property Management Limited

Company Registration Number: 04222830

Address of Registered Office: 11 Humber Street, Kingston upon
Hull, HU1 1TG

Court: Leeds District Registry

Date of Filing Petition: April 28, 2005

No. of Matter: 452 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver: Suite J, Anchor House, The Maltings,
Silvester Street, Hull, HU1 3HA


DOLPHIN UK: Scaffolding Services Firm to Liquidate
--------------------------------------------------
Name of Company: Dolphin UK Scaffolding Services Limited

Company Registration Number: 03873040

Address of Registered Office: Dolphin UK Scaffolding Yard,
Bank's Yard, Inkerman Colliery, Inkerman Road, Tow Law Co
Durham, DL13 4HG

Court: Bristol District Registry

Date of Filing Petition: May 18, 2005

No. of Matter: 2189 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 2nd Floor, St Marks House, St Marks
Court, Teesdale, Thornaby, Stockton-on-Tees, TS17 6QT


EDMONDS OF WENDOVER: Royal Court to Review Winding-up Petition
--------------------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3677 of 2005

In the Matter of Edmonds of Wendover Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up Edmonds of Wendover of 35 Perry Street,
Wendover, Aylesbury, Buckinghamshire HP22 6JT, presented on 6
June 2005 by the Commissioners of Inland Revenue, of Somerset
House, Strand London WC2R 1LB, claiming to be Creditors of the
Company, will be heard at the Royal Courts of Justice, Strand,
London WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon
thereafter as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioner's Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB.  Contact Name: Paul Kumaraswamy,
telephone 020 7438 7731. (Ref SLR 1205389/37/W.)


ENERGIS PLC: Cable & Wireless Mulls Takeover
--------------------------------------------
Cable & Wireless chairman Richard Lapthorne has admitted plans
to buy smaller rival Energis plc, according to Daily Mail.  The
deal could value Energis at more than GBP700 million.  The
report said Mr. Lapthorne has already held talks with Energis
chairman Archie Norman.  He expects to report on the progress of
the plan at least after a month.

Energis is highly indebted, but it is reportedly attractive
because of its high-profile customer base, which includes Boots,
BBC, and Wanadoo.  The deal would create a business with
revenues of about GBP2.3 billion that could pose as a bigger
rival to BT in supplying telecoms services to large businesses,
according to Times Online.

Cable & Wireless may get financing from a GBP1.3 billion
cashpile, part of which had been earmarked for foreign
acquisitions.

Cable & Wireless and Energis have tried to merge before but
failed.

Other big players in the industry, including France Telecom, are
also believed to be eyeing Energis, which had turnover of GBP720
million in the year to March.

CONTACT:  ENERGIS PLC
          Media Centre
          Direct Dial: +44 (0)118 919 3499
          Switchboard: +44 (0) 20 7206 5555
          Web site: http://www.energis.com


EYE BM: Bristol Court Accepts Winding-up Petition
-------------------------------------------------
Name of Company: Eye BM Limited

Company Registration Number: 03284778

Address of Registered Office: 222 Waltham Way, Chingford,
London, E4 8AW

Court: Bristol District Registry

Date of Filing Petition: April 29, 2005

No. of Matter: 2024 of 2005

Date of Winding-up Order: July 6, 2005

Official Receiver: 21 Bloomsbury Street, London, WC1B 3SS


FT5K (QA): Winding-up Hearing Set this Week
-------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3771 of 2005

In the Matter of FT5K (QA) Ltd.
and in the Matter of the Insolvency Act 1986

A Petition to wind up FT5K (QA) of 9 Stuart Street, Mermaid
Quay, Cardiff, South Glamorgan CF10 5BZ, presented on 9 June
2005 by the Commissioners of Inland Revenue, of Somerset House,
Strand London WC2R 1LB, claiming to be Creditors of the Company,
will be heard at the Royal Courts of Justice, Strand, London
WC2A 2LL, on 27 July 2005, at 1030 hours (or as soon thereafter
as the Petition can be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioner's Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7723.  (Ref SLR
1212856/37/Z.)


FTM SPECIALIST: Inland Revenue Seeks Liquidation
------------------------------------------------
In the High Court of Justice (Chancery Division)
Companies Court No. 3813 of 2005

In the Matter of FTM Specialist Services Limited
and in the Matter of the Insolvency Act 1986

A Petition to wind up FTM Specialist of 23 Star Hill, Rochester,
Kent ME1 1XE, presented on 9 June 2005 by the Commissioners of
Inland Revenue, of Somerset House, Strand, London WC2R 1LB,
claiming to be Creditors of the Company, will be heard at the
Royal Courts of Justice, Strand, London WC2A 2LL, on 27 July
2005, at 1030 hours (or as soon thereafter as the Petition can
be heard).

Any persons intending to appear on the hearing of the Petition
(whether to support or oppose it) must give notice of intention
to do so to the Petitioners or to their Solicitor in accordance
with Rule 4.16 by 1600 hours on 26 July 2005.

The Petitioner's Solicitor is the Acting Solicitor to HM Revenue
and Customs, Solicitor's Office, East Wing, Somerset House,
Strand, London WC2R 1LB, telephone 020 7438 7645.  (Ref SLR
1118798/37/G.)


FUTURA SOLUTIONS: Goes into Liquidation
---------------------------------------
Name of Company: Futura Solutions Limited

Trading Name: Futura Solutions Limited

Company Registration Number: 04924020

Address of Registered Office: 76 Rufford Road, Crossens,
Southport, Merseyside, PR9 8LF

Court: Leeds District Registry

Date of Filing Petition: April 4, 2005

No. of Matter: 358 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver: 2nd Floor, Cunard Building, Pier Head,
Liverpool, L3 1DS


HERONSEAL LIMITED: Bristol Court Issues Winding-up Order
--------------------------------------------------------
Name of Company: Heronseal Limited

Company Registration Number: 03218252

Address of Registered Office: Unit 24, Baltic Road, Gateshead,
Tyne and Wear, NE10 0SB

Court: Bristol District Registry

Date of Filing Petition: April 8, 2005

No. of Matter: 1718 of 2005

Date of Winding-up Order: July 6, 2005

Official Receiver's Address: 1st Floor, Melbourne House, Pandon
Bank, Newcastle Upon Tyne, Tyne & Wear, NE1 2JQ


HILBRE COURT: High Court Orders Liquidation
-------------------------------------------
Name of Company: Hilbre Court Limited

Company Registration Number: 04010269

Address of Registered Office: 56 Hamilton Square, Birkenhead,
Wirral, CH41 5AS

Court: High Court Of Justice

Date of Filing Petition: May 26, 2005

No. of Matter: 003457 of 2005

Date of Winding-up Order: July 13, 2005

Official Receiver's Address: 2nd Floor, Cunard Building, Pier
Head, Liverpool, L3 1DS


INMARSAT PLC: 258 Employees Take up Share Options
-------------------------------------------------
Under the terms of The Inmarsat Sharesave Scheme, Inmarsat plc
granted Thursday options to 258 eligible employees in respect of
844,468 ordinary shares of EUR0.0005 each at an exercise price
of 224p per share, being 20% less than the middle market price
of the shares derived from the Official List of the Stock
Exchange on the dealing day prior to the date of invitation to
join the Scheme.

The above figure includes options granted to the under mentioned
who are also Executive Directors of the Company and the Company
has received notification from them pursuant to Section 324 of
the Act:

(a) Mr. Michael Butler - 4,229 ordinary shares of EUR0.0005
    each;

(b) Mr. Rick Medlock - 4,229 ordinary shares of EUR0.0005 each;
    and

(c) Mr. Andy Sukawaty - 4,229 ordinary shares of EUR0.0005 each.

In addition, options were granted to the under mentioned who are
deemed to be persons discharging managerial responsibility:

(a) Ms. Alison Cowpe - 4,229 ordinary shares of EUR0.0005 each;

(b) Ms. Debra Jones - 4,229 ordinary shares of EUR0.0005 each;
    and

(c) Mr. Eugene Jilg - 4,229 ordinary shares of EUR0.0005 each.

                            *   *   *

Inmarsat plc has more than 25 years of experience in designing,
launching and operating its satellite-based network.  With a
fleet of ten owned and operated geostationary satellites, which
are controlled from its headquarters in London, Inmarsat
provides a wide range of voice and high-speed data services to
users worldwide, including telephony, fax, video, e-mail and
broadband intranet and Internet access.

Inmarsat's revenues, operating profit and EBITDA for the full
year 2004 were US$480.7 million (EUR399.36 million), US$159.1
million (EUR132.18 million) and US$303.6 million (EUR252.22
million), respectively.

CONTACT:  INMARSAT PLC
          99 City Rd.
          London EC1Y 1AX
          Phone: +44-20-7728-1256
          Fax: +44-20-7728-1179
          Web site: http://www.inmarsat.com/

          Media Inquiries
          Chris McLaughlin
          Phone: +44 20 7728 1015
                 or +44 779 627 6033

          Investor Inquiries
          Simon Ailes
          Phone: +44 20 7728 1518


ITM GROUP: Winding-up Petition Gets Court Approval
--------------------------------------------------
Name of Company: ITM Group (Holdings) Limited

Company Registration Number: 04132024

Address of Registered Office: Unit 2, Latimer Square, White Lion
Road, Amersham, Buckinghamshire, HP7 9JQ

Court: Leeds District Registry

Date of Filing Petition: May 13, 2005

No. of Matter: 504 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver's Address: 1st Floor, Trident House, 42-48
Victoria Street, St Albans, AL1 3HR


J A H ELECTRICAL: Leeds Court Accepts Winding-up Petition
---------------------------------------------------------
Name of Company: J A H Electrical & All Trades Contractors Ltd.

Company Registration Number: 04226219

Address of Registered Office: 25-29 Sandy Way, Yeadon, Leeds,
West Yorkshire, LS19 7EW

Court: Leeds District Registry

Date of Filing Petition: May 27, 2005

No. of Matter: 582 of 2005

Date of Winding-up Order: July 12, 2005

Official Receiver's Address: 3rd Floor, 1 City Walk, Leeds, LS11
9DA


KLAUSSNER FURNITURE: Business for Sale
--------------------------------------
Dermot Power and David Swaden joint administrators of Klaussner
Furniture Industries (U.K.) Ltd., offer for sale the business
and assets of this lounge furniture manufacturer and retailer.

Feature:

(a) Freehold factory and head office at St. Helens;

(b) Turnover of around GBP55 million;

(c) Established business since 1974;

(d) Retailing from 75 leasehold premises throughout the U.K. and

(d) Available as a going concern.

CONTACT:  BDO STOY HAYWARD
          Commercial Buildings
          11-15 Cross Street
          Manchester M2 1WE
          Phone: 0161 817 3700
          Fax: 0161 817 3711
          Web site: http://www.bdostoyhayward.co.uk

          Aysa Hassan
          Phone: 0161 817 3848
          E-mail: aysa.hassan@bdo.co.uk


MG ROVER: Nanjing Automobile Takes Driver's Seat
------------------------------------------------
The joint administrators from PricewaterhouseCoopers have
announced the sale of the assets of both MG Rover Group and its
engine producer, Powertrain Limited to Nanjing Automobile
(Group) Corporation.  The sale concludes a three-month process
following the collapse of MG Rover in early April.  Nanjing
Automobile (Group) Corporation was one of the two Chinese groups
that had planned to become joint venture partners with Phoenix
Ventures, prior to the collapse of negotiations.

Tony Lomas, joint administrator, said: "In early June, I
reported to the creditors that there were no viable bidders for
the business as a going concern.  As a result, plans had been
put in place for a break-up sale, unless a bidder pre-empted
that process before it could be completed.  SAIC had offered to
buy the engine plant for relocation to China, so negotiations
were underway to sell those assets separately.

"Whilst we have been negotiating with Nanjing Automobile (Group)
Corporation we have been aware of Martin Leach's interest in the
car production assets, although no bid has ever been made by Mr.
Leach.

"Until late last week SAIC had offered to acquire only the
Powertrain assets.  On Monday of [last] week SAIC submitted a
conditional bid for all of the MG Rover and Powertrain assets.
However the level and conditionality of SAIC's bid left
Nanjing's bid as the preferred way forward.

"Nanjing will now begin to take control of the assets and
develop its plans for the future.  It has indicated its
intention to relocate the engine plant and some of the car
production plant to China, to retain some car production plant
in the UK and to develop an R&D and technical facility here in
pursuit of the same global expansion ambition that it had when
it joined with SAIC as the intended joint venture partners to
Phoenix Venture Holdings before the collapse of MG Rover.

"For a transition period a residual workforce will continue to
be employed by MG Rover Group and Powertrain, assisting the
Administrators as they have for the last three and a half
months.  In the meantime Nanjing Automobile (Group) Corporation
intends to begin to hire staff to assist it in implementing and
developing its strategy."

CONTACT:  MG ROVER GROUP LIMITED
          Longbridge, Bickenhill
          Birmingham B31 2TB
          Phone: +44-121-475-2101
          Fax: +44-121-482-2403
          Web site: http://www1.mg-rover.com

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

          Jenny Britton, PR Manager
          Business Recovery Services
          Phone: 020 7212 2970
          Mobile: 07855 522485

          NANJING YUEJIN MOTOR (GROUP) CORPORATION
          264 Zhongyang Road,
          Nanjing, Jiangsu 210037
          Phone: +86-25-343-3670
          Fax: +86-25-341-7873
          E-mail: nac@nanqi.com.cn
          Web site: http://www.nanqi.com.cn


MISYS PLC: Turnover Drops GBP12 Mln; Profit Up GBP11 Mln
--------------------------------------------------------
Misys plc has released its preliminary results for the year
ended 31 May 2005.

Kevin Lomax, Executive Chairman, Misys, said: "These results are
encouraging.  They reflect some improvement in trading
conditions across our businesses but more importantly the
benefit of the actions we have been taking to reposition our
businesses for organic growth.

"It has been a year of real progress, one that gives us
confidence for our future performance."

Financial Results:

(a) Turnover: GBP888 million (2004: GBP900 million);

(b) Operating profit: GBP41 million (2004: GBP30 million);

(c) Adjusted operating profit: GBP102 million (2004: GBP102
    million);

(d) Like-for-like operating profit: GBP102 million (2004:
    GBP97 million);

(e) Share repurchases: GBP53 million (2004: GBP95 million);

(f) Net debt: GBP219 million (2004: GBP183 million);

(g) Earnings per share:  Basic 2.9p (2004: 4.4p); Adjusted3
    15.6p (2004:14.8p); and

(h) Dividend per share:  Full year dividend of 6.84p per share
    up 5%.

Business Highlights:

(a) Banking, Healthcare and General Insurance each increased
    revenues and profits on a like-for-like basis;

(b) Banking: growth in order intake and order book reflects good
    progress in developing product offerings and some
    improvement in market conditions;

(c) Healthcare: growth in order intake reflects strong uptake of
    clinical products and generally buoyant market conditions;

(d) General Insurance: another good performance; and

(e) Sesame: number of RIs up over 20% to 8,150; performance in
    line with expectations.

Financial Calendar

Misys expects to issue its next trading update at its Annual
General Meeting on 13 September 2005.

A copy of the financial results is available free of charge at
http://bankrupt.com/misc/Misysplc(2005).mht

CONTACT:  MISYS PLC
          Burleigh House, Chapel Oak, Salford Priors,
          Evesham, WR11 8SP, United Kingdom
          Phone: 44 (0)1386 871373
                 44 (0)1386 871045
          E-mail: group.secretariat@misys.co.uk
          Web site: http://www.misys.com


QXL RICARDO: Revenues Swell 71% to GBP2.52 Million
--------------------------------------------------
QXL ricardo plc has reported results for the first quarter ended
30 June 2005.

Highlights:

(a) Revenue increased 71% to GBP2.52 million compared to GBP1.47
    million for the  quarter ended 30 June 2004;

(b) Operating expenses increased 51% to GBP2.51 million,
    compared to GBP1.66 million for the quarter ended 30 June
    2004;

(c) Trading profit of GBP27,000 compared to a loss of GBP198,000
    in the quarter ended 30 June 2004;

(d) Other non-recurring operating income of GBP1.71 million;

(e) Operating profit of GBP1.66 million compared to a loss of
    GBP220,000 in the quarter ended 30 June 2004; and

(f) Cash balance at 30 June 2005 of GBP2.32 million following
    receipt of GBP1.42 million from QXL Poland.

Mark Zaleski, Chief Executive Officer, said: "I am very pleased
to report another strong period of year-on-year growth and our
second consecutive quarter of underlying profitability.

"Our cash position has also strengthened considerably during the
quarter, despite settling all outstanding costs related to the
recent unsuccessful takeover offers for the Group.  We will
continue our increased investment in marketing and technology
over the summer in order to prepare for the seasonally stronger
second half of our financial year."

A copy of the financial results is available free of charge at
http://bankrupt.com/misc/QXLRicardo(2005).mht

CONTACT:  QXL RICARDO PLC
          The Matrix Complex
          91 Peterborough Road
          London SW6 3BU
          Contact:
          Mark Zaleski, Chief Executive Officer
          Robert Dighero, Chief Financial Officer
          Tom Parkinson, Company Secretary
          Phone: +44 (0)20 7384 6310

          Financial Dynamics
          James Melville-Ross
          Juliet Clarke
          Phone: +44 (0)20 7831 3113


RAILTRACK PLC: Government Attorney Makes Closing Arguments
----------------------------------------------------------
An attorney for the government argued before a London court that
the shareholders suing the British government over the collapse
of Railtrack Plc have no evidence that former Transport
Secretary Stephen Byers acted "maliciously' in putting the
former railways operator into administration, The Bloomberg News
reports.

Some 49,000 former Railtrack investors are suing the U.K.
Department of Transport at the High Court, claiming it and
Secretary Byers abused their powers by forcing the company into
insolvency in October 2001.

In his closing argument in the case, the department's attorney,
Jonathan Sumption QC, said that blame for the company's failure
lies not with the government, but with its own poor financial
management.  He told the court, "The shareholders have not been
injured by the government, which had to pick up the pieces left
by the bad management of Railtrack."

The lawsuit, which opened June 27, is Britain's largest-ever
class action style case.  According to a government estimate,
shareholders could receive as much as GBP157 million ($272
million) in damages if they succeed with their claim.

Attorneys for the shareholders claim that Secretary Byers
plotted to force Railtrack into insolvency to "renationalize"
Britain's railways without having to compensate the company's
shareholders.

The former minister, who resigned from the Department of
Transport in May 2002 and is currently a Labour party member of
parliament, recently testified that he had given "untrue"
evidence to a parliamentary committee about when his department
began talks on changing the ownership structure of Railtrack
Plc.  That admission, which was made during his third day of
cross-examination in the lawsuit, prompted calls for an official
inquiry into his conduct.

Secretary Byers claims that he acted in the public interest in
putting Railtrack, which operated around 2,500 rail stations and
10,000 miles of track, into administration.  According to him,
the company had run up a projected multi-billion pound funding
gap in the wake of a train derailment in Hatfield, north of
London, a year earlier in which four people died.  Railtrack
eventually spent around GBP650 million on subsequent repairs and
fines for train delays.

Mr. Sumption told the court that Secretary Byers consulted with
other senior government officials, including Prime Minister Tony
Blair, on the decision and was backed by legal advisors.

London-based Network Rail Ltd., which is partly funded by the
U.K. government, acquired Railtrack's shares in October 2002 for
GBP500 million.

The case, which is expected to conclude this week, is Geoffrey
Rutherford Weir and ors. v. The Secretary of State for Transport
HC03CO4185.

CONTACT:  NETWORK RAIL LIMITED
          40 Melton St.
          London NW1 2EE,
          United Kingdom
          Phone: +44 20 7557 8000
          Fax:   +44 20 7557 9000
          Web site: http://www.networkrail.com


TRACEY'S INDUSTRIAL: Court to Hear Winding-up Petition this Week
----------------------------------------------------------------
         IN THE MATTER of Tracey's Industrial Cleaners

                              and

     IN THE MATTER OF The Insolvent Partnerships Order 1994

A Petition to wind up Tracey's Industrial Cleaners having its
principal place of business at 2 Kings Drive, Egremont, Cumbria
CA22 2LE, presented on June 15, 2005 by the Commissioners for
Her Majesty's Revenue and Customs (formerly HM Customs and
Excise) of Civil Recovery Unit, 3rd Floor NW, Queens Dock,
Liverpool L74 4BJ, claiming to be a Creditor of the Partnership,
will be heard by the Royal Courts of Justice, Strand, London
WC2A 2LL, on July 27, 2005, at 10:30 a.m.

Any person intending to appear on the hearing of the Petition,
whether in support or opposition, must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 4:00 p.m. on July 26, 2005.

CONTACT:  Clarke Willmott, Solicitors to Petitioning Creditor
          Blackbrook Gate,
          Blackbrook Park Avenue,
          Taunton TA1 2PG
          Phone: 01823 445286
          Fax: 01823 445805


TURNER & NEWALL: Asbestos Panel Wants Estimation Proof Reopened
---------------------------------------------------------------
The Official Committee of Asbestos Property Damage
Claimants appointed in Federal-Mogul Corporation and its debtor-
affiliates' chapter 11 cases, asks Judge Rodriguez to reopen the
evidence in the asbestos estimation proceeding to address newly
discovered evidence regarding the basis for non-malignant
asbestos personal injury claims against Turner &
Newall, Ltd.

Adam P. Strochak, Esq., at Weil, Gotshal & Manges, LLP, in
Washington, D.C., points out that all of the estimates presented
to Judge Rodriguez regarding T&N's pending and future asbestos
personal injury liability allocate billions of dollars to
claimants alleging non-malignant injury.  Mr. Strochak notes
that Dr. Mark Peterson allocates 47% of his $11.1 billion
estimate to non-malignant claimants.

Mr. Strochak tells the District Court that the PD Committee had
asked the Bankruptcy Court to set a deadline for filing personal
injury claims so as to obtain information about the legitimacy
of pending claims and whether the claims were the product of
good faith medical practice.  The PD Committee's Bar Date
Motion, Mr. Strochak says, was based on legitimate suspicions
that the use of mass screened medical evidence massively
inflated the level of pending and past claims.  But the
Bankruptcy Court denied the Bar Date Motion and the asbestos
estimation proceeded.

                         Silica MDL Ruling

Mr. Strochak relates that the PD Committee's suspicions were
confirmed by a ruling in In re: Silica Products Liability
Litigation held on June 30, 2005, by Judge Janis Graham Jack of
the United States District Court for the Southern District of
Texas.

A full-text copy of the ruling In re: Silica Products Liability
Litigation is available for free at:

               http://bankrupt.com/misc/SilicaMDL.pdf

According to Mr. Strochak, Judge Jack's ruling in the Silica
Multidistrict Litigation exposes the overly aggressive,
irresponsible and even fraudulent tactics used by plaintiffs'
lawyers, mass-screening enterprises and affiliated physicians in
silicosis claims.  "It also demonstrates the interrelationship
between silicosis and asbestosis claims."

After substantial discovery into certain mass-screening
enterprises and physicians who generated a high volume of cases,
Judge Jack, in her 249-page ruling, addresses a number of
issues, including "whether the doctors who diagnosed plaintiffs
with silicosis employed a sufficiently reliable methodology for
their testimony to be admissible."

Mr. Strochak relates that in answering that question, Judge Jack
examined many underlying factual issues related to mass-
screening enterprises and certain physicians who are active in
both silica and asbestos litigation, explaining that claims
generated by screening companies and affiliated physicians
"def[ied] all medical knowledge and logic," and that the claims
were not about the "search for truth and the quest for justice,"
they "were manufactured for money" and "were about litigation
rather than health care."

Mr. Strochak notes that the screening companies on whom
discovery was taken in the silica case were involved in both
asbestos and silica litigation.  Judge Jack's opinion lays out
the connection between asbestosis and silicosis claims in a
paragraph about one screening company, N&M Inc.:

    "Overall, N&M . . . managed to generate the diagnoses for
    approximately 6,757 [Silica] MDL Plaintiffs.  To place this
    accomplishment in perspective, in just over two years, N&M
    found 400 times more silicosis claims than the Mayo Clinic
    (which sees 250,000 patients a year).  Furthermore, when
    comparing the names of the approximately 6,757-N&M generated
    MDL Plaintiffs with the names in the Manville Personal
    Injury Settlement Trust (a trust established for asbestos
    claims after the Johns-Manville Corporation bankruptcy), at
    least 4,031 N&M-generated Plaintiffs have also made asbestos
    claims.

    The magnitude of this feat becomes evident when one
    Considers that many pulmonologists, pathologists, and B-
    readers go their entire careers without encountering a
    single patient with both silicosis and asbestosis. . . .
    Stated differently, a golfer is more likely to hit a hole-
    in-one than an occupational medicine specialist is to find a
    single case of both silicosis and asbestosis.  N&M parked a
    van in some parking lots and found over 4,000 such cases."

Judge Jack noted that the number of Silica MDL plaintiffs who
had also made asbestosis claims was "staggering", stunning, and
not scientifically plausible, Mr. Strochak relates.

                 Misconduct by Screening Companies

With respect to screening companies, Judge Jack's ruling
demonstrates that law firms, not physicians, were taking medical
or occupational histories of claimants, Mr. Strochak notes.
Judge Jack found "no evidence that anyone [taking medical
histories] had any medical training or had been instructed by
any medical professional what questions would be appropriate in
taking an occupational history," Mr. Strochak relates.

                Misconduct by Diagnosing Physicians

Judge Jack's ruling also shows that diagnosing physicians who
were engaged in misconduct had extensive involvement in asbestos
cases.  These physicians include:

    1. Ray Harron;
    2. James Ballard;
    3. W. Allen Oaks; and
    4. George Martindale.

Judge Jack noted that "evidence of unreliability of the B-reads
performed for [the] MDL is matched by evidence of the
unreliability of B-reads in asbestos litigation," Mr. Strochak
relates.

               T&N Was Impacted by Similar Misconduct

Judge Jack's findings are indisputably relevant to an estimate
of T&N's asbestos personal injury liability, Mr. Strochak
asserts.  "Judge Jack's Order establishes an unseverable nexus
between silica litigation and asbestos litigation."  Mr.
Strochak points out that evidence already adduced in T&N's
proceeding demonstrates that T&N faced claims generated by the
same tactics and even some of the bad actors identified in the
Silica MDL.

Judge Jack's ruling states that unscrupulous lawyers manipulated
the system in order to "overwhelm the Defendants and the
judicial system . . . in hopes of extracting mass nuisance-value
settlements because the Defendants and the judicial system are
financially incapable of examining the merits of each individual
claim in the usual manner."

Mr. Strochak thus tells Judge Rodriguez that whatever claims T&N
paid pre-bankruptcy, and whatever the reasons for T&N's
behavior, no party should be permitted to use a Chapter 11
proceeding and the federal court system to perpetuate the abuse.

                         Discovery Needed

In light of Judge Jack's compelling opinion, the PD Committee
wants the Court to reopen the evidence in the estimation
proceeding and to allow additional discovery to ascertain the
extent to which T&N has been affected by the same or similar
wrong-doing described in the silica ruling.  Mr. Strochak
believes that Judge Jack's opinion highlights the need to permit
the PD Committee to obtain information about the doctors and
screening companies used by pending claimants.

If the District Court approves its request for new trial, the PD
Committee will timely file a discovery plan and propose a
supplemental hearing date.  At that point, Mr. Strochak says,
the parties can adjust their estimates accordingly.  "Arriving
at an estimate without discovery into [the] issue would require
the Court to place its imprimatur on what the Property Damage
Committee believes to be -- and what was very clearly found in
the Silica MDL to be -- an egregious abuse of the legal system."

Given the procedural posture of the case, where no confirmation
hearing is scheduled and no estimate has been rendered, Mr.
Strochak assures the District Court that no party will be
prejudiced by the inquiry into the legitimacy of claims against
T&N.

Mr. Strochak adds that the District Court has the power to order
a reopening of the trial and to permit additional discovery.
"It would be a manifest injustice if the misconduct detailed in
the silicosis cases were allowed to go unchecked in the
estimation proceeding."

Headquartered in Southfield, Michigan, Federal-Mogul Corporation
-- http://www.federal-mogul.com/-- is one of the world's
largest automotive parts companies with worldwide revenue of
some US$6 billion.  The Company filed for chapter 11 protection
on October 1, 2001 (Bankr. Del. Case No. 01-10582).  Lawrence J.
Nyhan Esq., James F. Conlan Esq., and Kevin T. Lantry Esq., at
Sidley Austin Brown & Wood, and Laura Davis Jones Esq., at
Pachulski, Stang, Ziehl, Young, Jones & Weintraub, P.C.,
represent the Debtors in their restructuring efforts.  When the
Debtors filed for protection from their creditors, they listed
US$10.15 billion in assets and US$8.86 billion in liabilities.
At Dec. 31, 2004, Federal-Mogul's balance sheet showed a
US$1.925 billion stockholders' deficit.  At Mar. 31, 2005,
Federal-Mogul's balance sheet showed a US$2.048 billion
stockholders' deficit, compared to a US$1.926 billion deficit at
Dec. 31, 2004.  Federal-Mogul Corp.'s U.K. affiliate, Turner &
Newall, is based at Dudley Hill, Bradford. (Federal-Mogul
Bankruptcy News, Issue No. 87; Bankruptcy Creditors' Service,
Inc., 215/945-7000)


WADE SMITH: Fashion Retailer up for Sale
----------------------------------------
The Joint Administrators, Ian Gould, Jon Newell and Kerry Bailey
of PKF (UK) LLP offer for sale as a going concern, the business
and assets of Wade Smith Limited.

Principal features:

(a) Established, popular store in the heart of Liverpool's
    Cavern Quarter;

(b) 15,000 sq. ft. of leasehold premises over five floors;

(c) Substantial Men's and Junior's designer fashions range
    including, Hugo Boss, Prada, cK, Nike, Adidas, Armani, FCUK
    etc.;

(d) 53 employees including brand and line experts;

(e) Turnover for twelve months ending February 2005: GBP12.2
    million; and

(f) Stock holding: GBP2.1 million at cost price

                            *   *   *

The Liverpool retailer collapsed after its bank declined to
provide further financial assistance, forcing founder-owner
Robert Wade-Smith to place the group in administrative
receivership.  Mr. Wade-Smith attributed the group's collapse to
current difficult retail climate as well as well as factors
specific to Liverpool like the Big Dig road works.  He said
since the main arterial streets are being excavated, people
chose to shop in alternative places.

CONTACT:  WADE SMITH LTD.
          Mathew Street
          Liverpool L2 6RA
          Phone: 0151 255 1077

          PKF (U.K.) LLP
          New Guild House
          45 Great Charles Street
          Queensway
          Birmingham B3 2LX
          Phone: 0121 212 2222
          Fax: 0121 212 2300
          E-mail: info.birmingham@uk.pkf.com
          Web site: http://www.pkf.co.uk

          Richard Tonks
          E-mail: richard.tonks@uk.pkf.com


YE OLDE: Creditor Seeks Liquidation of Business
-----------------------------------------------
                IN THE MATTER of Ye Olde White Hart

                              and

     IN THE MATTER OF The Insolvent Partnerships Order 1994

A Petition to wind up Ye Olde White Hart having its principal
place of business at Main Street, Ufford, Stamford, Lincolnshire
PE9 3BH, presented on June 13, 2005 by the Commissioners for Her
Majesty's Revenue and Customs (formerly HM Customs and Excise)
of Civil Recovery Unit, 3rd Floor NW, Queens Dock, Liverpool L74
4BJ, claiming to be a Creditor of the Partnership, will be heard
by the Royal Courts of Justice, Strand, London WC2A 2LL, on July
27, 2005, at 10:30 a.m.

Any person intending to appear on the hearing of the Petition,
whether in support or opposition, must give notice of intention
to do so to the Petitioner or its Solicitors in accordance with
Rule 4.16 by 4:00 p.m. on July 26, 2005.

CONTACT:  Clarke Willmott, Solicitors to Petitioning Creditor
          Blackbrook Gate,
          Blackbrook Park Avenue,
          Taunton TA1 2PG
          Phone: 01823 445286
          Fax: 01823 445805


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                Shareholders   Total    Working
                                   Equity      Assets   Capital
                        Ticker     (US$MM)    (US$MM)   (US$MM)
                        ------   -----------  -------   --------

AUSTRIA
-------
Libro AG                            (111)         174     (182)
Rhi AG                              (421)       1,700      183


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Real Software             REAL.BR   (202)         176      (17)
Sabena S.A.                          (86)       2,215     (297)


CZECH REPUBLIC
--------------
Ceskomoravska Kolben &
   Danek Praha Holding               (89)         192   (2,186)


DENMARK
-------
Elite Shipping                       (28)         101       19


FRANCE
------
Acces Industrie                      (32)         124      (63)
Arbel                     PA.ARB     (50)         213      (47)
Banque Nationale
   de Paris Guyane        BNPG       (41)         352      N.A.
BSN Glasspack                       (101)       1,151      179
Bull S.A.                 BULP.PA   (912)         902      (38)
Charbo De France                  (3,872)       4,738   (2,868)
Compagnie Francaise de
   l'Afrique Occidentale             (65)         256       21
Compagnies de
   Machines Bull                    (139)         137       (6)
Euro Computer System                (110)         682      377
Genesys S.A.              GNS.PA     (15)         136        3
Grande Paroisse S.A.                (927)         629      330
Immob Hoteliere                      (68)         233       29
LVL Medical Group         LVLM.PA     (8)         149       (6)
Oeneo S.A.                SABT.PA    (12)         292       38
Pneumatiques Kleber S.A.             (34)         480      139
SDR Centrest                        (132)         252      N.A.
SDR Picardie                        (135)         413      N.A.
Soderag                               (3)         404      N.A.
Sofal S.A.                          (305)       6,619      N.A.
Spie-Batignolles                     (16)       5,281       75
St Fiacre (FIN)                       (1)         111      (33)
Trouvay Cauvin                        (0)         134       10
Usines Chausson                      (23)         249       35


GERMANY
-------
Agor AG                   DOOG.BE     (8)         392     (126)
Dortmunder
   Actien-Brauerei        DABG       (13)         118      (29)
EM.TV AG                  EV4G.BE    (22)         849       15
F.A. Guenther & Son AG    GUSG        (8)         111      N.A.
Glunz AG                  GLUG        (0)         428      (17)
Kamps AG                  KMPSF.PK   (93)       1,075      (61)
Kaufring AG               KAUG       (19)         151      (51)
Mannheimer AG                        (15)         879      N.A.
Marbert AG                MTBG       (13)         144      (50)
Nordsee AG                            (8)         195      (31)
Primacom AG               PRIG      (106)       1,264      (50)
Rinol AG                  RLIG       (25)         178      (53)
Schaltbau Hold            SLTG       (38)         150      (26)
Senator Entertainment
    AG                    SENGk.BE  (153)         126     (148)
SinnLeffers AG            WHGG        (4)         454     (145)
Spar Handels- AG          SPAG      (442)       1,433     (234)
VBH Holding AG            VBHG       (54)         337      (80)
Vivanco Gruppe                       (55)         131      (31)


GREECE
------
DryShips Inc.             DRYS        (4)         184      (29)


HUNGARY
-------
NABI Rt.                  NABHY       (2)         229   (8,950)


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                       (31)         793     (248)
Gruppo Coin S.p.A.        GC        (111)         974      (97)
I Grandi Viaagi S.p.A.    IGV.MI     (31)         533     (140)
Lazio S.p.A.              LAZI       (27)         426     (175)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (16,510)       5,285     (332)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46

Numico N.V.               NUMC      (422)       1,982      376
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


NORWAY
------
Petroleum-Geo Services    PGO        (32)       2,963   (5,250)


POLAND
------
Mostostal Zabrze          MECOF.PK    (6)         227     (366)


ROMANIA
-------
Oltchim RM Valce          OLT        N.A.         232     (321)


RUSSIA
------
Kamchatskenergo                     (107)         291   (7,319)
Zil Auto                            (147)         349   (9,974)


SPAIN
-----
Altos Hornos de
   Vizcaya S.A.                     (116)       1,283     (278)
Avanzit S.A.              AVZ.MC    (117)         457     (247)
Santana Motor S.A.                   (46)         223       41
Sniace S.A.                          (16)         136      (34)


SWITZERLAND
-----------
Kaba Holding AG           KABZN      (23)         582      260


TURKEY
------
Nergis Holding                       (24)         125       26
Yasarbank                           (948)         623      N.A.


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker PLC                 ANK.L      (22)         115       13
Avis Europe PLC           AVE.L      (24)       2,686     (420)
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,342)       3,438      229
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
Center Parcs (UK)
    Group Plc             CQY        (77)         423     (227)
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (65)         396       (4)
Danka Bus System          DNK.L      (51)         585       82
Dawson Holdings           DWN.L      (19)         142      (33)
Dignity Plc               DTY.L     (148)         485      (89)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,411)       3,235     (252)
Euromoney Institutional
   Investor Plc           ERM.L     (113)         236      (66)
Gallaher Group            GLH       (492)       6,304      116
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV       (130)         997      (56)
Invensys PLC                        (963)       4,861      882
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (26)       1,176     (182)
Jessops Plc               JSP.L      (14)         321        7
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (14)         115      (11)
Misys Plc                 MSY       (334)         934       44
Mytravel Group            MT.L    (1,613)       2,199     (463)
Orange Plc                ORNGF     (594)       2,902        7
Partygaming Plc           PRTY      (405)         263     (161)
PD Ports Plc              PDP.L     (282)         361        0
Premier Foods Plc         PFD.L      (29)       1,059       20
Probus Estates Plc        PBE.L      (28)         113      (35)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,072)       3,382      (68)
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
Virgin Mobile
   Holdings Plc           VMOB.L    (101)         278      (80)

Each Tuesday edition of the TCR-Europe contains a list of
companies with insolvent balance sheets based on the latest
publicly available balance sheet available to our editors at the
time of publication.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell
short.  Don't be fooled.  Assets, for example, reported at
historical cost net of depreciation may understate the true
value of a firm's assets.  A company may establish reserves on
its balance sheet for liabilities that may never materialize.
The prices at which equity securities trade in public market are
determined by more than a balance sheet solvency test.


                            *********


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 Jay Malaga, 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.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each. For subscription
information, contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *