TCREUR_Public/050729.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Friday, July 29, 2005, Vol. 6, No. 149

                            Headlines

B U L G A R I A

NOVA PLAMA: Creditors File Second Bankruptcy Petition


C Z E C H   R E P U B L I C

CZECH AIRLINES: First-half Passenger Uptake Grows 18%
JITKA AS: Huge Losses Force Majority Owner to Sell Stake
SFINX: Pot maker Declares Bankruptcy


F R A N C E

ALSTOM SA: Service Unit Takes over Chinese Engineering Group
COMPLETEL EUROPE: Net Loss Down to EUR0.5 Million
DELY'S: Cheap Competition 'Kills' Local Shoemaker
EURO DISNEY: Releases Details for Depositary Receipt Holders


G E R M A N Y

DOHRMANN & STEPHAN: Court to Verify Claims November
FAST & CLEAN: Creditors to Meet Next Month
FORELLENHOF ROTER: Creditors Meeting Set 3rd Week of August
FURKA GRUNDSTUECKSGESELLSCHAFT: Falls into Bankruptcy
PREISLER & SCHNEIDER: Court to Verify Claims October

RADTKE COTTON: Bremen Court Appoints Administrator
SCHAFER GMBH: Appoints Dr. Hopfner Provisional Administrator
TANI-THERM: Creditors Meeting Set October
THOMAS COOK: Denies Suspending Flights to Egyptian Resort
VELOCIPED FAHRRADLADEN: Under Bankruptcy Administration
WERMSDORFER RAUCHEREI: Creditors' Claims Due September


I R E L A N D

VHI HEALTHCARE: Closure Looms as Losses Mount


I T A L Y

WIND TELECOMUNICAZIONI: Proposed Credit Facilities Rated (P)B1


N E T H E R L A N D S

HAGEMEYER N.V.: To Cut Ties with Fuji Film
ROYAL SHELL: Former Chairman Raps U.K.'s FSA


R O M A N I A

GAVAZZI STEEL: Asset Sale Collects US$7 Million


R U S S I A

BELORETSKIY FACTORY: Hires Insolvency Manager from Bashkortostan
BIRSKIY ELEVATOR: Creditors Have Until Next Week to File Claims
EVRAZ GROUP: Corporate Credit Rated 'B+'; Outlook Positive
GARANT-STROY: Claims Deadline Expires Next Week
KOTLASSKIY LESOPILNYJ: Bankruptcy Hearing Set November

METROMEDIA INTERNATIONAL: To Close Sale of PeterStar Next Week
MOS: Insolvency Manager Takes over Company
MOVABLE MECHANIZED: Undergoes Bankruptcy Supervision Procedure
RAS: Deadline for Proofs of Claim Next Week
SPASSKOYE BUILDING-ASSEMBLY: Under Bankruptcy Supervision

TSERIT INVEST: Under External Management Procedure
YOSHKAR-OLINSKIY FACTORY: Falls into Bankruptcy
YUKOS OIL: Allowed to Increase Claims vs. Yugansk Buyer
YUKOS OIL: Court Evaluates 1995 Loans-for-shares Auction


U K R A I N E

TRADE LINK: Succumbs to Bankruptcy


U N I T E D   K I N G D O M

365 NETWORK: Hires Begbies Traynor Administrator
AARDWORK SOFTWARE: Administrators Take Over Business
ABBEY MEDIA: Administrators from KPMG Move in
ABSOLUTE BRIDGING: High Court Orders Liquidation
ALLIED DOMECQ: Sold to Pernod Ricard

ALLIED DOMECQ: Ratings Downgraded to Baa3/P-3
BESPOKE INVESTMENT: Goes into Liquidation
BIRCHWOOD GARAGES: Names Grant Thornton Administrator
BRITISH AMERICAN: Comparisons Become More 'Demanding'
CAMBRIDGE APPLIED: Tenon Recovery Administrators Enter Firm

CATERBEST LTD.: Gets Court Approval to Wind-up
CHARACTER GROUP: CEO Leaves Genoa Club on Five-year Ban
CHEETAH ACQUISTIONS: EGM Passes Winding-up Resolutions
CHUBB GUARDING: Names PricewaterhouseCoopers Liquidator
CHUBB SECURITY: Liquidators from PwC Move in

DARENTH WEIGHING: Creditors Meeting Set in Two Weeks
DATACOMMS TECHNOLOGY: Bristol Court Accepts Winding-up Petition
ECOQUIP LTD.: Lures Potential Buyers with Strong Customer Base
EO COM: Leeds Court Okays Liquidation
EURODIS ELECTRONICS: Hires Deloitte & Touche Administrators

EUROTRANS 2000: Goes into Liquidation
FILOS (UK): Wholesaler Calls in Administrator
FKI PLC: Senior Unsecured Debt Rating Affirmed at 'BB'
FLOWGUARD FINISHING: Winding-up Petition Gets Court Approval
GRANVILLE TECHNOLOGY: 1,500 Workers Axed; 78 Outlets Closed

GRIFFIN REAL: High Court Orders Winding-up
GUARDFORCE INTERNATIONAL: Appoints Joint Liquidators from PwC
HOME & CONTRACT: Bristol Court Approves Liquidation
IMPLANTS (INTERNATIONAL): Calls in Begbies as Administrator
JOINT BUILDING: Gets Court Approval to Wind-up

LEY'S FOUNDRIES: Calls PwC as Liquidator
LOGIC HOLDINGS: Hires Administrators from Tenon Recovery
LOGIC ROOFING: Joint Administrators Take over Operation
METRONOMY DESKTOP: Court Accepts Petition to Wind-up
METZLER INTERNATIONAL: Calls in Administrator

MG ROVER: Announcement Delay Stirs More Controversy
MIRACLE SOLUTIONS: Names P&A Partnership Administrator
MOONMORE LIMITED: Calls in Liquidators from PwC
MULLIGANS BAR: In Administrative Receivership
MYTRAVEL GROUP: Credit Facilities Fees to Cost GBP10 Mln Yearly

NATIONWIDE SCHOOL: In Liquidation
OULSTON COMPUTERS: Falls into Liquidation
PLAS-TECH WINDOWS: Court Okays Winding-up
POPIN FISH: Gets Court Approval to Liquidate
QUEST INTERNATIONAL: Administrators from Kroll Limited Move in

SAINSBURYS OF BOURNEMOUTH: Creditors Meeting Set August 9
SOFTWARE STORE: Administrators from Hazlewoods Take over Biz
STANLEY J HOLMES: Hires Hodgsons Administrator
TANEX RESOURCES: Receives Court Approval to Liquidate
TELEWEST GLOBAL: To Reveal Second-quarter Figures Next Month

THUS GROUP: Turnover Stable; Trading in Line with Expectations
WADE SMITH: Administrators from PKF Take over Operation
WHITEHEAD MANN: New Partners, Consultants Join Firm
WILLIAMS UK: Appoints PwC Liquidator
WM MORRISON: Like-for-like Half-year Sales Up 5%
YOUR NEW: High Court Approves Winding-up Petition
Y & V LIMITED: In Voluntary Liquidation


                            *********


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


NOVA PLAMA: Creditors File Second Bankruptcy Petition
-----------------------------------------------------
The district court in Pleven has opened another bankruptcy
proceedings against Nova Plama, Europe Intelligence Wire says.

According to the report, the proceeding is the second in seven
years after the Bulgarian oil company failed to implement its
rehabilitation plan approved by creditors in 1999.  The first
proceeding was initiated by State Fund for Reconstruction and
Development.  The rehab plan extended Plama's repayment of a
BGN251.5 million debt until 2031, but in 2003 it must repay
creditors BGN30 million.

Creditors in the second proceedings claim Plama did not implement
this plan.  Jorset Holding and DZI Bank, which are collectively
owed more than BGN8 million, has asked the court to appoint
receivers and order the sale of Plama's assets to pay its debt.

The company claims the rehab plan was not implemented because it
failed to resume operations promptly.  Court records show Plama's
buyer following its first bankruptcy called "Plama Consortium"
had several demands on the government as conditions for reviving
operations, among them, legislative amendments concerning the
so-called hollow profit.

Built between 1964 and 1971, the Nova Plama refinery is the
second biggest Bulgarian refinery with processing capacity of
1,200,000 metric tonnes of crude oil annually.  It is the only
manufacturer of base oils on the Bulgarian market with a capacity
of 209,000 MT annually.  Until 1996, the refinery was the main
supplier of base oils, finished oils and special products for all
local and most East-European consumers.  Currently, it processes
crude oil and manufactures a full range of petrol products.  The
refinery is located near the town of Pleven, approximately 160 km
Northeast of Sofia and nearly 30 km South from the Danube River.
The nearest seaport, Varna, is about 300 km away from the
refinery.

CONTACT:  NOVA PLAMA JSC
          5800 Pleven
          Bulgaria
          Phone: +359 (64) 83 41 88, 82 21 37
          Fax: +359 (64) 83 35 76, 83 24 71
          E-mails: distribution@plama.bg
                   logistics@plama.bg
          Web site: http://www.plama.bg/


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


CZECH AIRLINES: First-half Passenger Uptake Grows 18%
-----------------------------------------------------
In the first six months of this year, Czech Airlines showed a
growth of 18% in the number of transported passengers when
compared to 2004.  Over the January-June 2005 period, 2.3 million
passengers traveled on Czech Airlines regular and charter
flights.  Further growth is expected in the summer months, which
are traditionally the busiest period for air transport.

Czech Airlines carried out a total of 18 482 flights over the
first six months of 2005 which represents a year-on-year growth
of more than 25%.  In addition to this, 10 480 tons of cargo and
mail were transported on these flights.

The transport results for charter flights continued to grow with
the beginning of the CSA Summer Season.  Czech Airlines carried
225,310 passengers to holiday destinations over the first six
months of the year while over the same period of 2004, 82 480
passengers traveled on charter flights.

In the month of June itself, the number of transported passengers
grew by 24%.  511,930 passengers used Czech Airlines services in
June 2005 with the airline carrying out 3,471 flights and
transporting 1,670 tons of cargo and mail.

These increases in transport results show that Czech Airlines has
been successful in maintaining its strong position on the market
as well as in attracting new customers, even with the
ever-growing competition in the air transport industry.

Jitka Novotna
CSA Spokesperson

CONTACT:  CESKE AEROLINIE A.S.
          Prague Ruzyni Airport
          160 08 Prague, 6, Czech Republic
          Phone: +42 220 104 310
          Fax:   +42 224 81 04 26
          Web site: http://www.csa.cz


JITKA AS: Huge Losses Force Majority Owner to Sell Stake
--------------------------------------------------------
Textile maker Jitka is now owned by Milan Vasicek, a lawyer who
recently paid CZK185.5 million to buy a 74.75% stake in the
company, weekly Tyden says.

Mr. Vasicek's investment vehicle, Pletora, bought the stake from
SPGroup, headed by billionaire Pavel Sehnal.  Mr. Sehnal's group
was forced to sell the business, which employs 700, due to heavy
losses last year, its first in 14 years.  The company fell
CZK38.8 million in the red last year, the report said.

Established in 1965, Jitka a.s. specializes in producing cotton
and mixture fabrics for working and protective clothing, denim
fabrics, and a range of other textiles.

CONTACT:  JITKA a.s.
          Jindrichuv Hradec
          Czech Republic
          Phone: +420 384 379 502
                 +420 384 379 268
          Fax: +420 384 321 164
               +420 384 321 147
          E-mail: jitka@jitka.cz
          Web site: http://www.jitka.cz

          SPGROUP a.s.
          Masarykovo nabr. 235/28,
          110 00 Praha 1
          Phone: 221 907 217
          Fax: 224 933 113
          E-mail: vedeni@spggroup.cz


SFINX: Pot maker Declares Bankruptcy
------------------------------------
Enameled pots and pans maker Sfinx has given up after three
losing years, Europe Intelligence Wire says.  The company has
been struggling to stay afloat since 2002, when it almost went
belly up.  Sfinx started its business in the 1980s and at one
point cornered 90% of the local market for pots and pans.  Its
bankruptcy leaves 130 jobless.


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


ALSTOM SA: Service Unit Takes over Chinese Engineering Group
------------------------------------------------------------
Alstom S.A.'s service unit has acquired a Hong Kong-based
engineering company, boosting the group's presence in China, the
Financial Times says.

Alstom Power Service Sector acquired LATech Engineering Co. Ltd.,
which serves utility, industrial and municipal clients in Hong
Kong and southern China.  The acquisition expands Alstom's
domestic capabilities in integrated service solutions for thermal
power plants in China.  Alstom said it would benefit from
LATech's established client-and-supplier relationships, allowing
it to "push its service technology and advanced maintenance
solutions."

CONTACT:  ALSTOM S.A.
          25 Avenue Kleber
          75795 Paris Cedex 16
          Phone: +33-1-47-55-20-00
          Fax: +33-1-47-55-25-99
          Web site: http://www.alstom.com


COMPLETEL EUROPE: Net Loss Down to EUR0.5 Million
-------------------------------------------------
Financial Highlights:

(a) +20% Growth of total revenue in Q2'05 vs. Q2'04;

(b) +50% Growth of Adjusted EBITDA in Q2'05 vs. Q2'04;

(c) Adjusted EBITDA margin rose to 17% of revenue in Q2'05
    compared to 14% in Q2'04; and

(d) Net loss reduced to EUR0.5 million in Q2'05 from EUR3.1
    million in Q2'04.

Operational Highlights:

(a) +22% increase of customers connected to the networks in
    Q2'05 vs. Q2'04, and

(b) +23% increase of buildings connected to the networks in
    Q2'05 vs. Q2'04.

Other events:

(a) ARCEP1 (formerly ART) decision on call termination tariffs
    postponed later this year;

(b) Expansion plan announced on July 22 2005; and

(c) EUR120 million financing of expansion plan closed on July
    27.

Completel Europe N.V., a national infrastructure-based operator
providing telecom services to the French business market, has
revealed its results for the quarter ended June 30, 2005.

Completel reported quarterly revenue of EUR46.8 million compared
to EUR39.1 million in Q2'04, an increase of 20%, and a positive
Adjusted EBITDA of EUR8.1 million compared to EUR5.4 million in
Q2'04.

Jerome de Vitry, President and CEO of Completel Europe N.V.,
said: "Q2'05 is another quarter of continuing positive
development with continuing revenue growth, supported by
successes in data, leading to a third quarter of positive free
cash flow.

"I am extremely pleased to announce the launch our expansion plan
which will allow us to build on our current fiber access
positioning to expand our addressable market meaningfully with an
unmatched powerful combination of fiber and unbundled DSL.

"The success of our business model and the strong development of
the French broadband market, combined with a favorable
competitive environment, represent a unique growth opportunity
for Completel.
"Increasing our regional footprint from 9 metropolitan areas to a
national coverage across 80 metropolitan areas will significantly
strengthen our competitive position in the corporate market and
is a direct response to the increasing customer demand for
integrated data and voice services and their need to serve all
their sites on a national basis.

"This network extension is an opportunity to capture a higher
share of our customers' total telecom spend, to target the
untapped potential of the SME market.  We will also be able to
address the entire wholesale market through our national
coverage, which we will serve where it proves profitable.  This
strategic move is a natural evolution to serve our customers,
both the corporate and the wholesale markets, with the best suite
of turn-key voice and data telecommunications solutions.

"We are convinced there is now a great market opportunity to grow
the Company and to strengthen our position as a key telecom
provider to the French corporate market.  We have the possibility
to become the only alternative operator with a large metropolitan
fiber network and a comprehensive DSL coverage of French
businesses."

Alexandre Westphalen, Chief Financial Officer, said: "In Q2'05,
we achieved our third consecutive quarter of positive free cash
flow.  We ended the quarter Q2'05 with EUR1.7 million of free
cash and with a significant cash balance of EUR44.9 million on
our balance sheet.  The continuous growth of revenue along with
costs control reduced our net losses to EUR0.5 million in Q2'05
from EUR3.1 million in Q2'04.

"In anticipation of ARCEP's decision for call termination
expected later this year, we continue to estimate our call
termination revenue for 2005 on the basis of the tariff on which
Completel and France Telecom settled their 2004 call termination
dispute.  However, the comments of the Conseil de la Concurrence,
published on May 11, 2005, now lead us to estimate that there is
a higher probability to obtain final 2005 tariffs close to, or
above, our current call termination estimate than below.

"Finally, I'm pleased with the successful financing of our
expansion plan.  This EUR120 million financing fully funds our
business plan and gives us the proper financial flexibility to
execute our Expansion Plan.  This balanced equity and debt
placement optimizes our balance sheet and financing structure for
future years.  Our stock issuance close to market price is a
tribute of investors' confidence in the company's ability to
create shareholders' value through the implementation of this
strategic expansion."

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

CONTACT:  COMPLETEL EUROPE N.V.
          Tour Egee,
          9-11 allee de l'Arche
          92671 Courbevoie Cedex
          FRANCE
          Phone: +33 1 72 92 20 00
          Home Page: http://www.completel.com


DELY'S: Cheap Competition 'Kills' Local Shoemaker
-------------------------------------------------
Shoemaker Dely's has fallen under court supervision after filing
for bankruptcy on July 6, Les Echos says.  The company blames
cheap competition from Asia for its demise, which has left 173
employees jobless.  The company has been controlled by the family
of Alessio Barani since 1999.  Records obtained by Troubled
Company Reporter-Europe show the company has a capital of
EUR3,963,674.

CONTACT:  DELY
          56 Avenue de Nantes
          Bp: 5
          44116 VIEILLEVIGNE
          FRANCE
          Tel: 02 40 02 07 40
          Fax: 02 40 26 54 83
          E-mail: delys@delys.fr


EURO DISNEY: Releases Details for Depositary Receipt Holders
------------------------------------------------------------
Further to the announcement on July 21, 2005, Euro Disney S.C.A.
is currently sending out documentation to all holders of
Depositary Receipts in respect of the Company's decision to
cancel its share listing on the London Stock Exchange.

A copy of the documentation has been submitted to the U.K.
Listing Authority.  It will be available for inspection at both
Freshfields Bruckhaus Deringer, which is situated at 65 Fleet
Street, London EC4Y 1HS and the U.K. Listing Authority's Document
Viewing Facility, which is situated at The Financial Services
Authority, 25 The North Colonnade, Canary Wharf, London E14 HS,
Phone: 020 7066 1000 from July 28, 2005.

                            *   *   *

Euro Disney has decided to cancel its secondary listings of both
ordinary shares and U.K. Depositary Receipts on the Official List
of the U.K. Listing Authority and from trading on the London
Stock Exchange's market for listed securities; and the secondary
listing of its ordinary shares from Brussels Euronext.

Market trends and changes in the regulatory environment, combined
with the high cost of maintaining separate listings relative to
historical trading volumes, have led to the Company's decision to
cancel its share listings on the London Stock Exchange and
Euronext Brussels.  Following the
cancellation of the listings, investors will still be able to
trade in the Company's shares on Euronext Paris.

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.

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


DOHRMANN & STEPHAN: Court to Verify Claims November
---------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Dohrmann & Stephan Baugesellschaft mbH on
July 1.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
September 29, 2005 to register their claims with court-appointed
provisional administrator Dr. Christoph Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting on August 18, 2005, 10:15 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, 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 November 24,
2005, 10:05 a.m. at the same venue.

CONTACT:  DOHRMANN & STEPHAN BAUGESELLSCHAFT mbH
          Berliner Str. 3,13089 Berlin

          Dr. Christoph Schulte-Kaubruegger, Administrator
          Genthiner Str. 48, 10785 Berlin


FAST & CLEAN: Creditors to Meet Next Month
------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Fast & Clean Dienstleistungen GmbH on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 27,
2005 to register their claims with court-appointed provisional
administrator Christoph Rosenmueller.

Creditors and other interested parties are encouraged to attend
the meeting on August 16, 2005, 9:25 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, 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 November 22,
2005, 9:25 a.m. at the same venue.

CONTACT:  FAST & CLEAN DIENSTLEISTUNGEN GmbH
          Raintaler Str. 43,80331 Muenchen

          Christoph Rosenmueller, Administrator
          Berliner Str. 117, 10713 Berlin


FORELLENHOF ROTER: Creditors Meeting Set 3rd Week of August
-----------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Forellenhof Roter Siegfried Roter Nachf. OHG
on July 1.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
September 27, 2005 to register their claims with court-appointed
provisional administrator Joachim Voigt-Salus.

Creditors and other interested parties are encouraged to attend
the meeting on August 16, 2005, 9:15 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, 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 November 22,
2005, 9:15 a.m. at the same venue.

CONTACT:  FORELLENHOF ROTER SIEGFRIED ROTER NACHF. OHG
          Weinmeisterhornweg 103,13593 Berlin

          Joachim Voigt-Salus, Administrator
          Rankestrasse 33, 10789 Berlin


FURKA GRUNDSTUECKSGESELLSCHAFT: Falls into Bankruptcy
-----------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against FURKA Grundstuecksgesellschaft mbH & Co
Vertriebs KG on July 1.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have September 27, 2005 until to register their claims with
court-appointed provisional administrator Dr. Petra Hilgers.

Creditors and other interested parties are encouraged to attend
the meeting on August 16, 2005, 9:20 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, 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 November 22,
2005, 9:20 a.m. at the same venue.

CONTACT:  FURKA GRUNDSTUECKSGESELLSCHAFT mbH & Co VERTRIEBS KG,
          Kurfuerstendamm 16,10719 Berlin

          Dr. Petra Hilgers, Administrator
          Goethestr. 85, 10623 Berlin


PREISLER & SCHNEIDER: Court to Verify Claims October
----------------------------------------------------
The district court of Cuxhaven opened bankruptcy proceedings
against Preisler & Schneider Lebensmittelwerke GmbH on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 8,
2005 to register their claims with court-appointed provisional
administrator Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting on October 6, 2005, 12:40 p.m. at the district court
of Cuxhaven, Saal 112, Altbau, Deichstr. 12a, 27472 Cuxhaven, 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:  PREISLER & SCHNEIDER LEBENSMITTELWERKE GmbH,
          Prasident-Herwig-Str. 6-8, 27472 Cuxhaven
          Contact:
          Udo Nermerich, Manager
          Birkenweg 19, 27472 Cuxhaven

          Jan H. Wilhelm, Administrator
          Am Radeberg 1, 28717 Bremen
          Phone: 0421/178765
          Fax: 0421/1787665


RADTKE COTTON: Bremen Court Appoints Administrator
--------------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against Radtke Cotton News GmbH on July 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 13, 2005 to register
their claims with court-appointed provisional administrator Jan
H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 9:00 a.m. at the district court
of Bremen, Saal 115, Gerichtshaus (Neubau), Ostertorstr. 25-31,
28195 Bremen, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report October
6, 2005, 9:00 a.m. at the same venue.

CONTACT:  RADTKE COTTON NEWS GmbH
          Reeder-Bischoff-Str. 51, 28757 Bremen
          Contact:
          Eckhard Wilfried Radtke, Manager
          Renate Radtke, Manager
          Kirchheide 11, 28757 Bremen

          Jan H. Wilhelm, Administrator
          Am Radeberg 1, 28717 Bremen
          Phone: 0421/178765
          Fax: 0421/1787665


SCHAFER GMBH: Appoints Dr. Hopfner Provisional Administrator
------------------------------------------------------------
The district court of Darmstadt opened bankruptcy proceedings
against Schafer GmbH Bedachungen aller Art on July 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 4, 2005
to register their claims with court-appointed provisional
administrator Dr. Alexander Hopfner.

Creditors and other interested parties are encouraged to attend
the meeting on September 15, 2005, 10:00 a.m. at the district
court of Darmstadt, Zimmer 4, Gebaude E, Landwehrstrasse 48,
64293 Darmstadt, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  SCHAFER GmbH BEDACHUNGEN ALLER ART
          Fischweiher 13 A, 64646 Heppenheim
          Contact:
          Andreas Schafer, Manager

          Dr. Alexander Hopfner, Administrator
          Darmstadter Str. 43, 64646 Heppenheim
          Phone: 06252/6739988
          Fax: 06252/6739989


TANI-THERM: Creditors Meeting Set October
-----------------------------------------
The district court of Aachen opened bankruptcy proceedings
against TANI-Therm GmbH on July 4.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 29, 2005 to register their claims
with court-appointed provisional administrator Caroline Schmitz.

Creditors and other interested parties are encouraged to attend
the meeting on October 10, 2005, 8:15 a.m. at the district court
of Aachen, Nebenstelle Augustastrasse, Augustastrasse 78/80,
52070 Aachen, II. Etage, Zimmer 21, 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:  TANI-THERM GmbH
          Forststr. 3, 52393 Huertgenwald
          Contact:
          Dieter Niebel, Manager
          Seid Hossein Tabai Damavandi, Manager
          Luisenstr. 75, 52477 Alsdorf

          Caroline Schmitz, Administrator
          Waisenhausstr. 3, 52349 Dueren
          Phone: 02421/20908-0
          Fax: 02421/20908-18


THOMAS COOK: Denies Suspending Flights to Egyptian Resort
---------------------------------------------------------
Troubled travel group Thomas Cook denies suspending all its
flights to Sharm el-Cheikh, AFX News says.

A news report came out Sunday stating that Thomas Cook had
suspended all flights to the resort, following the bombing in the
Egyptian Red Sea resort.  A spokesman said the group merely
suspended Saturday and Sunday excursions for Thomas Cook clients
in Sharm el-Cheikh, not flights to the resort.  Explosions rocked
the Egyptian resort last Saturday, killing at least 88 people.
Thomas Cook excursions resumed Monday.

Europe's second-largest tour operator said all Egyptian trips
this summer could still be changed until August 6.  Clients going
to Egypt may either choose another destination or postpone their
trip.

Thomas Cook expects to book both pre- and post-tax profit for
2005, its first since 2001, after trimming its first-half loss
from EUR301.4 million in 2004 to EUR217 million this year.
Thomas Cook's improved figures is partly due to its
restructuring.  Troubled retail giant KarstadtQuelle AG and
Deutsche Lufthansa AG, Europe's second largest carrier, equally
own Thomas Cook.

CONTACT:  THOMAS COOK AG
          Zimmersmuehlenweg 55
          61440 Oberursel
          Phone: +49-6171-6500
          Fax: +49-6171-652-125
          Web site: http://www.thomascook.de


VELOCIPED FAHRRADLADEN: Under Bankruptcy Administration
-------------------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against Velociped Fahrradladen GmbH on July 7.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until August 19, 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 9, 2005, 9:30 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:  VELOCIPED FAHRRADLADEN GmbH
          Heeper Str. 133, 33607 Bielefeld
          Contact:
          Juergen Luebcke, Manager
          Heeper Str. 152, 33607 Bielefeld
          Friedhelm Vedder, Manager
          An der Walkenmuehle 22, 33607 Bielefeld

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


WERMSDORFER RAUCHEREI: Creditors' Claims Due September
------------------------------------------------------
The district court of Cuxhaven opened bankruptcy proceedings
against Wermsdorfer Raucherei GmbH on July 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 8, 2005 to register their
claims with court-appointed provisional administrator Jan H.
Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting on October 6, 2005, 11:00 a.m. at the district court
of Cuxhaven, Saal 112, Altbau, Deichstr. 12a, 27472 Cuxhaven, 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:  WERMSDORFER RAUCHEREI GmbH
          Ortstrasse 9, 04688 Mutzschen
          Contact:
          Udo Nermerich, Manager
          Birkenweg 19, 27472 Cuxhaven

          Jan H. Wilhelm, Administrator
          Am Radeberg 1, 28717 Bremen
          Phone: 0421/178765
          Fax: 0421/1787665


=============
I R E L A N D
=============


VHI HEALTHCARE: Closure Looms as Losses Mount
---------------------------------------------
Vhi Healthcare is facing insolvency and eventual closure in two
years, said The Irish Times.

This came as the firm admitted it is likely to lose up to EUR40
million this year, after reporting a net loss of EUR12 million in
2004.

Chief Executive Vincent Sheridan said Vhi has been covering these
losses from its EUR281 million reserves.  If this continues, Mr.
Sheridan warned the company could be insolvent by 2007.

He said: "The board can see the rate at which the reserves are
being depleted, and they will have to decide whether this
business can continue."

He added the crisis is due to the failure of Minister for Health
Mary Harney to launch risk equalization to the health insurance
market.

The system would have provided for a community-rated scheme of
health insurance, which requires profits earned on policies sold
to young and healthy people to offset the losses on older,
loss-making clients.

This would have meant that rival insurer Bupa would be obliged to
pay Vhi more than EUR30 million in 2006 to make up for the fact
that the latter's clients are older and, therefore, less
profitable.  Over 90% of Vhi's clients are over 49, making the
firm the biggest beneficiary of risk equalization payments.

Findings from the Health Insurance Authority show that the high
number of older clients cost Vhi EUR16 million in the second half
of 2004.

Bupa, which has earnings of EUR23.4 million in 2004, has already
threatened to shut down its business if risk equalization is
implemented.

In June, Ms. Harney said Vhi has to at least start first its
transition from a statutory body to a commercial State company
before she introduces the system.

Vhi Healthcare owns an 80% share of the Irish private health
insurance market.  It offers a wide range of healthcare plans for
acute medical cover to individual and corporate clients.

In 2004, Vhi Healthcare diversified its product range to include
Multi Trip Travel Insurance cover and has become the first
company in Ireland to offer stand-alone cover for dental care,
with Vhi DeCare Dental.  It has over 1.55 million members
representing 40% of the Irish population.

CONTACT:  VHI HEALTHCARE
          IDA Business Park
          Dublin Road
          Kilkenny
          Ireland
          Phone: 1850 44 44 44
          E-mail: info@vhi.ie
          Web site: http://www.vhi.ie


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


WIND TELECOMUNICAZIONI: Proposed Credit Facilities Rated (P)B1
--------------------------------------------------------------
Moody's Investors Service assigned a (P)B1 corporate family
rating to Wind Telecomunicazioni S.p.A.  Concurrently Moody's
assigned a (P)B1 rating to Wind's EUR6,850 million senior secured
credit facilities and a (P)B2 rating to its EUR700 million second
lien facility.  This is a first-time rating for Wind.  The
ratings outlook is stable.

Ratings assigned for Wind Telecomunicazioni S.p.A. are:

(a) Corporate family rating at (P)B1,

(b) EUR6,850 million senior secured credit facilities
    (consisting of a EUR400 million revolving credit facility
    and EUR6,450 million of term loans) at (P)B1,

(c) EUR700 million second lien facility at (P)B2

Summary Rating Rationale

The corporate family rating reflects:

(a) the competitive nature of the Italian market;

(b) the expectation of low growth in overall fixed-line revenues
    and stable to modest growth expectations for the wireless
    market given the maturity of the Italian market;

(c) the uncertainties associated with converting and/or gaining
    direct customers given strong competition as well as
    potential delays in unbundling the local loop;

(d) the challenges facing Wind in increasing mobile average
    revenues per user (ARPU) given its previous strategy of
    focusing on increasing market share which has resulted in a
    more highly residential and pre-paid customer base than
    other operators; and

(e) high financial leverage (pro-forma Adjusted Debt to EBITDAR
    of c. 7.0x) combined with the expectation of limited free
    cash flow generation in the near term.

However, the rating is supported by:

(a) Wind's significant and growing market share in the Italian
    mobile market, where it is the third entrant among four
    mobile operators;

(b) the company's established presence in the Italian fixed line
    market where it operates under the Infostrada brand;

(c) the company's extensive mobile and fixed line network within
    Italy and the potentially significant convergence advantages
    that may result;

(d) the relatively favorable regulatory environment in which
    Wind operates (particularly with respect to the mobile
    business);

(e) the demonstrated strong track record of management in
    executing and delivering their business plan to date; and

(f) the potential upside resulting from synergies with Orascom
    Telecom.

The stable outlook reflects the strength of the underlying
operating cash flow and operating margins of the company as well
as management's commitment to reduce debt.  However, the
company's high financial indebtedness is currently constraining
the rating and consequently a demonstrated reduction in levels of
indebtedness (such that Adjusted Debt to Adjusted EBITDA falls
below 6x and Adjusted RCF to Net Adjusted Debt comfortably
exceeds 10%) would be required for any positive momentum in the
rating.

The rating is likely to be negatively impacted if sustained
underperformance from plan resulted in reduced headroom against
the financial covenants included in the company's senior credit
facilities and a consequent deterioration in liquidity.  Further,
there would likely be downward pressure on the rating should the
competitive environment in Italy substantially change as a result
of the presence of the fourth operator (H3G), thereby leading to
higher subscriber acquisition costs (SACs) and/or marketing costs
which could negatively impact Wind's mobile margins.

Key Credit Risks

Wind faces strong competition in all of its markets, primarily
from Telecom Italia ("TI" -- rated Baa2), which still enjoys a
significant market position in its domestic markets in wireline,
wireless and the Internet despite liberalization of the market,
as well as from Vodafone Italy in the wireless market and, to a
lesser extent, H3G.

Furthermore, since Moody's expects growth in the fixed-line
market to be limited, competition in the wireline sector is
expected to remain intense as TI acts to defend its strong
position (e.g. TI's recent win-back campaign resulted in indirect
subscriber losses in Infostrada over the last eighteen months)
and other operators (e.g. Fastweb and Tiscali) look to increase
market share.

Consequently Moody's believes that it will be challenging for
Infostrada to increase its wireline customer base and notes that
the conversion of direct customers may be impinged by potential
delays in unbundling the local loop.

With a current penetration of over 100%, the mobile market is
viewed as mature and future growth is expected to be stable to
modest and dependent for the most part on the take up of wireless
data and 3G services.  Consequently competition for mobile
subscribers is likely to intensify as Wind and H3G look to
increase their market share at the expense of TIM and Vodafone
Italy.

Whilst historically SACs have been low, Moody's notes that H3G
has been aggressively subsidizing handset costs in order to gain
market share.  To date H3G has targeted business and high ARPU
users (which mainly impact TIM or Vodafone Italy given their
respective customer bases) and Moody's cautions that the current
status quo in the Italian mobile market (of low handset
subsidies) may well change and could result in significantly
higher SACs and advertising/marketing costs than evidenced
historically.  Although Wind's mainly pre-paid, low ARPU customer
base in part mitigates the threat, a substantial shift in
strategy of any of the existing mobile operators is likely to
depress operating margins.

Whilst Moody's recognizes Wind's success in rapidly building its
mobile subscriber base, we note that the company's strategy has
been to initially focus on market share with a low price offering
which has resulted in a predominantly residential, pre-paid
customer base with low ARPUs and churn rates that are currently
higher than for TIM and Vodafone Italy.  In addition,
notwithstanding the improvements Wind has made in network quality
(as demonstrated by increased accessibility and reduced dropped
call rates), Wind's network coverage (by territory) marginally
lags that of TI and Vodafone, and Wind is still perceived to have
a lower network quality.

Consequently, Moody's believes that it may be challenging for
Wind to increase ARPUs given that to date price has been the key
differentiator for Wind, the price sensitive nature of Wind's
existing customer base, the competitive environment and Wind's
historically lower presence in the north of Italy (which is
Italy's wealthiest area).  We note however that both churn and
ARPU have been positively impacted in the growing Noi customer
base (Wind's Noi product range offers consumers a number of free
minutes for on-net calls).  Additionally, increased subscriber
take-up of Wind's differentiated i-mode services should also
positively impact ARPUs.

With pro-forma Adjusted Debt to EBITDAR of circa 7x, financial
leverage is viewed as high.  For the purposes of the adjusted
debt calculation all financial debt of the Wind group (including
the high yield and PIK bridge facilities) has been included as
well as an adjustment for operating leases (based on 8x rental
expense).  Furthermore, cash flow metrics (with pro-forma
Adjusted RCF to Net Adjusted Debt of around 10%) are viewed as
weak.  However, liquidity is viewed as satisfactory given the
company's access to a Euro 400 million revolving credit facility
(undrawn at close), limited scheduled debt amortization before
June 2007 and the company's operating cash flow generation,
although Moody's notes that in the near term free cash flow
generation will be constrained due to capital investment (albeit
mainly success related, given the low mandatory capex associated
with the UMTS license conditions).

Key Credit Positives

Wind is a leading integrated telecom operator in Italy, where it
is active in the fixed-line telephony market (through its
Infostrada brand), the wireless market (under the Wind brand) and
the Internet services market (where it operates under the Libero
brand).  Wind is the third entrant among four wireless operators
in Italy and currently has almost 13 million subscribers and an
18.8% market share.  Infostrada is the second largest fixed line
operator in Italy in terms of revenues with 2.4 million customers
and Libero is the leading Internet provider in Italy with a 39%
Internet narrowband market share, 427k broadband subscribers and
the leading Italian Internet Portal by pages viewed and number of
users.

Moody's recognizes the success of management to date in building
the Wind business, in particular the mobile business which is the
leading third operator in Europe in terms of subscribers and
reached cash break even in 2004, slightly ahead of plan.
Furthermore, Moody's acknowledges that Wind management's focus on
fixed to mobile convergence ahead of other market participants
could result in a competitive advantage for Wind (given their
integrated network).

Moody's views the regulatory environment in Italy as relatively
favorable.  On the mobile side, no further GSM/UMTS licenses will
be awarded and the regulator has undertaken that mobile virtual
network operator (MVNO) licenses will not be issued until 2011 at
the earliest.

However, Moody's notes that fixed-to-mobile termination rates
have recently been reduced to bring Italy in line with the
European average and that since Wind has recently been declared
dominant in the termination market, its fixed-mobile termination
revenues will decrease by c. 20% going forward.

Nonetheless, Moody's recognizes that the asymmetry of termination
charges between dominant operators in Italy continues to have a
net positive effect on Wind's operating margins.  In addition,
revenues of the mobile operators could be further impacted as
mobile-to-mobile tariffs are expected to become aligned to
fixed-to-mobile rates, although the margin impact on Wind should
be substantially mitigated by lower interconnect costs.

With regards to wireline, Wind benefits from fixed-to-fixed
collection and termination rates with TI that are below the E.U.
average; however we note that Wind's current fixed-to-fixed
Termination rates on direct customers are currently being
challenged by TI and are expected to fall going forward.  More
positively, local loop unbundling (ULL) prices are currently the
lowest in Europe, whilst shared access tariffs are also below the
E.U. average, which benefits alternative operators such as Wind.
That said, Moody's notes that constraints set by TI on ULL
provisioning capacity may hinder the development of Wind's direct
access customer base.

Following the closing of the acquisition, Wind will be indirectly
owned by the main shareholder of Orascom Telecom, a holding
company with interests in mobile operations in countries such as
Egypt, Tunisia, Algeria, Iraq, Bangladesh and Pakistan.  Whilst
Wind will be effectively ring-fenced from Orascom Telecom and
will operate as a standalone entity, Moody's acknowledges that
there are potential synergy benefits (e.g. in purchasing of
network equipment and handsets), which could result in operating
margin improvements for Wind.

Transaction Overview

In May 2005, Enel S.p.A. and Weather Investments II S.A.R.L.
(Weather II), a company controlled by Mr. Naguib Sawiris, signed,
together with other parties (including Enel Investment Holding
B.V.), the agreement under which Enel Investment Holding B.V.
agreed to transfer its shareholding in Wind to Weather II.  The
total enterprise value of the transaction was EUR12.138 billion.

In order to fund the acquisition and to refinance its existing
indebtedness, Wind plans to issue EUR6,850 million of senior
secured credit facilities (including a EUR400 million revolving
credit facility) and a EUR700 million second lien facility.
Holding companies of Wind will issue a EUR1,250 million high
yield bridge loan facility and a EUR500 million PIK bridge loan
facility, proceeds of which will be used to fund the acquisition
of Wind as well as transaction expenses.  It is the current
intention that the bridge facilities will be refinanced through
the proceeds of a high yield notes and PIK notes issue.

The acquisition of Wind will be completed in two steps.  First, a
holding company (Bidco) will acquire 62.33% of Wind and,
subsequently, Bidco will acquire the remaining 37.67% via a
put/call agreement with Enel (this is expected to occur in Q1
2006).  Following completion of the transaction, Wind will be
jointly owned by Weather II, a vehicle indirectly controlled by
Mr. Naguib Sawiris, which will own 73.9%, and Enel, which will
own 26.1%, through Weather Investments S.r.l.  In addition to the
100% ownership of Wind, Weather will also own 50% + 1 share of
Orascom Telecom.  Weather's indirect shareholding in Orascom
Telecom is outside the Wind financing group and has not been
factored into the corporate family rating for Wind.

The assigned ratings assume there will be no material variations
to the draft legal documentation reviewed by Moody's and assume
that these agreements are legally valid, binding and enforceable.

Structural Issues

Whilst the high yield and PIK bridge facilities are to be issued
by holding companies of Wind, they have been factored into the
corporate family rating of Wind since they are reliant on the
cash flows of Wind for debt servicing and principal repayment.
The senior secured credit facilities are contractually senior to
the second lien facility and both contractually and (initially)
structurally senior to the bridge facilities and will benefit
from an extensive security package (including tangible asset
security from Wind and its material subsidiaries as well as a
pledge over Wind's shares), the rating of (P)B1, i.e. at the same
level as the corporate family rating, reflects their relatively
high proportion of the capital structure (74% assuming the
revolver is fully drawn).  The (P)B2 rating of the second lien
facility reflects its contractual subordination to the senior
secured credit facilities but also its contractual and
(initially) structural seniority to the bridge facilities.

Company Summary

Headquartered in Rome, Italy, Wind is a leading integrated
telecom operator in Italy, active in the fixed-line, mobile and
Internet services markets and operating under the Wind,
Infostrada and Libero brands.  For the financial year ending 31
December 2004, the company reported revenues of EUR4,715 million
and EBITDA of EUR1,554 million.

CONTACT:  MOODY'S INVESTORS SERVICE LTD.
          London
          David G. Staples
          Managing Director
          Corporate Finance Group

          Nicole Guest
          Asst Vice President - Analyst
          Corporate Finance Group

          For Journalists
          Phone: 44 20 7772 5456


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


HAGEMEYER N.V.: To Cut Ties with Fuji Film
------------------------------------------
Hagemeyer N.V. has said it will discontinue its involvement in
the Fuji Film business in the Netherlands towards the end of this
year.  In close consultation with the manufacturer, details will
be worked out to secure an orderly continuation of the business
concerned in the Netherlands.

                            *   *   *

Hagemeyer is a value added business-to-business (B2B)
distribution services group focusing on the markets for
electrical materials, safety and other MRO (Maintenance Repair
and Operations) products in Europe, North America and
Asia-Pacific.  Currently over some 18, 000 people are working at
Hagemeyer in 27 countries.

Hagemeyer N.V. said in June it reached agreement in principle
with a bank consortium of ABN AMRO Bank, ING Bank, Rabobank and
NIB Capital Bank to refinance and improve its existing senior
secured credit facility.  These banks will jointly increase their
share in the credit facility to Hagemeyer with approximately
EUR240 million, which allows Hagemeyer to pay down all other 26
lenders in its current senior credit facility.

In April, the Group reported total net interest bearing debt
increased from EUR476 million at year-end 2004 to EUR535 million
at March 31, 2005.  Apart from the impact of foreign exchange
movements, the increase in net debt in Q1 2005 is mainly due to
seasonal influences.

CONTACT:  HAGEMEYER N.V.
          Rijksweg 69, P.O. Box 5111, 1410 AC Naarden
          The Netherlands
          Phone: + 31 (0)35 6957676
          Fax: + 31 (0)35 6944396
          Contact:
          Emilie de Wolf
          Web site: http://www.hagemeyer.com


ROYAL SHELL: Former Chairman Raps U.K.'s FSA
--------------------------------------------
Former Royal Dutch Shell Plc chairman Philip Watts has charged
the United Kingdom's Financial Services Authority (FSA) of
"mischief" for implicating him personally when it punished the
company for overstating oil reserves, Bloomberg News reports.

The FSA imposed a whopping GBP17 million (US$30 million) fine on
the Company last year.  Several suits and class actions were also
filed against the oil giant, alleging it mislead investors by
overstating reserves between 1998 and last year.  The Company
also lost its top-tier credit rating, and two executives, along
with Mr. Watts, left the Company.

Mr. Watts is starting a campaign to clear his name of wrongdoing
in the hopes that it may help him defend himself in litigation
against the Company and its officers.  Mr. Watts has asked an
independent tribunal to support his claim that the FSA
"identified and prejudiced" him when it published findings of an
inquiry into Shell and fined the company last July.  The
regulator, which didn't mention Mr. Watts' name in the penalty
notice, rejected the accusations, but confirmed it is still
probing Mr. Watts.

The FSA's reference to matters suggesting Watts was guilty of
"negligent wrongdoing is exactly the form of mischief" the law is
designed to prevent, David Pannick QC, Mr. Watts' lawyer, told
Bloomberg News.  It "magnified" the unfairness because "when the
final notice against Shell was issued the authority was still
considering the role of Sir Philip," Mr. Pannick said.

Both sides agreed, in separate arguments to the two-member
Financial Services and Markets Tribunal, that Mr. Watts wasn't
explicitly identified by name in the FSA's notice of the Shell
penalty.  FSA lawyers demanded that the case be dismissed and
said the regulator hasn't reached conclusions about Watts'
personal responsibility in the overstatement of reserves last
year, Bloomberg News reports.

"The FSA did not identify him and it did not prejudicially
identify him," said Anthony Grabiner QC, representing the
regulator, told Bloomberg News. "Even if it did identify him it
certainly did not prejudice him.  There is simply no reference to
or singling out of any individual at all."

CONTACT:  ROYAL DUTCH/SHELL GROUP OF COMPANIES
          Carel van Bylandtlaan 30
          2596 HR The Hague
          The Netherlands
          Phone: +31 70 377 9111
          Fax: +31 70 377 3115
          Web site: http://www.shell.com


=============
R O M A N I A
=============


GAVAZZI STEEL: Asset Sale Collects US$7 Million
-----------------------------------------------
Ductil Steel-Buzau has reportedly paid US$6 billion for "Module
1" of bankrupt Gavazzi Steel S.A. Otelu Rosu's assets.

The amount was endorsed to Romania's State Assets Resolution
Authority (AVAS), which handled the auction in an effort to
recover some of the company's debt, said Bursa.

A portion of the money, according to the report, will go to
salaries of the security guards who have been deployed in the
firm's site since 2003 (ROL1.1 million).  The firm's liquidator
will be paid ROL80,000, while some amount will cover local taxes.

Aside from Ductil Steel, Fil Invest has also transferred US$1
million to AVAS for "Module 2" of the company's properties.

The report added that funds collected in the future will be used
to cover mortgage fees, overdue salaries and other debt.

CONTACT:  STATE ASSETS RESOLUTION AUTHORITY (AVAS)
          50 Cpt. Alex. Serbanescu Street
          Sector 2, Bucharest
          Romania
          Phone: (004021) 3036122
          Fax: (004021) 3036521
               or (004021) 3036457
          E-mail: presa@avas.gov.ro
                  or infopublic@avas.gov.ro

          DUCTIL STEEL-BUZAU
          1, Aleea Industriilor, 120224
          Buzau, Romania
          Phone: +40 238 - 405 102
                 or +40 238 - 405 104
          Fax: +40 238 - 722 057
          E-mail: office@ductilsteel.ro
          Website: http://www.ductilsteel.ro


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


BELORETSKIY FACTORY: Hires Insolvency Manager from Bashkortostan
----------------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on open joint stock company
Beloretskiy Factory Of Mechanized Instrument.  The case is
docketed as A07-14487/05-G-KhRM.  Mr. N. Lipey has been appointed
temporary insolvency manager.  Creditors have until Aug. 2, 2005
to submit their proofs of claim to 450032, Russia, Bashkortostan
republic, Ufa-32, Post User Box 116.

CONTACT:  BELORETSKIY FACTORY OF MECHANIZED INSTRUMENT
          453500, Russia, Bashkortostan republic,
          Beloretsk, Tyulenina Str. 14

          Mr. N. Lipey
          Temporary Insolvency Manager
          450032, Russia, Bashkortostan republic,
          Ufa-32, Post User Box 116
          Phone/Fax: 8(3472) 60-40-20


BIRSKIY ELEVATOR: Creditors Have Until Next Week to File Claims
---------------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on open joint stock company
Birskiy Elevator.  The case is docketed as A07-12389/05-G-ADM.
Mr. M. Nigmatullin has been appointed temporary insolvency
manager.

Creditors have until Aug. 2, 2005 to submit their proofs of claim
to Russia, Bashkortostan republic, Birsk, Krasnoarmeyskaya Str.
5a.  A hearing will take place on Sept. 20, 2005.

CONTACT:  Mr. M. Nigmatullin
          Temporary Insolvency Manager
          Russia, Bashkortostan republic, Birsk,
          Krasnoarmeyskaya Str. 5a


EVRAZ GROUP: Corporate Credit Rated 'B+'; Outlook Positive
----------------------------------------------------------
Standard & Poor's Rating Services assigned its 'B+' long-term
corporate credit rating to Russian steel company Evraz Group S.A.
and its core subsidiary Mastercroft Ltd.  The outlook on both
companies is positive.  In addition, a 'ruAA-' Russia national
scale rating was assigned to Evraz and Mastercroft.

Standard & Poor's also assigned its 'B+' senior unsecured debt
rating to the US$175 million notes due 2006 and $300 million
notes due 2009 issued by special-purpose vehicle Evraz Securities
S.A. and guaranteed by Mastercroft.

"The ratings on Evraz and Mastercroft reflect the companies'
complex organizational and ownership structure with,
historically, significant related party transactions, and a short
track record as a single group," said Standard & Poor's credit
analyst Elena Anankina.  "This is offset by extensive upstream
integration into iron ore and coking coal, which helps to control
costs through the cycle, a strong market position in long steel
in Russia, and diversified end markets (including exports)."

Evraz' management team has a good record of successfully
integrating and restructuring formerly underperforming assets
over the past few years.

The ratings on Evraz and Mastercroft are currently equalized
because both entities have almost the same asset base,
liabilities, and cash flows.

"Standard & Poor's expects that the group will capitalize on its
core advantage, upstream vertical integration, and demonstrate a
track record of sustainable actual (not only pro forma)
profitability and cash flow generation," said Ms. Anankina.

These factors could lead to an upgrade (likely one notch) in the
coming one to two years, if the group demonstrates the ability to
reduce debt and if any acquisitions would enhance the group's
business profile (for example, if the recent Vitkovice Steel AS
integration proceeds favorably).  An upgrade would also require
an improvement in the group's liquidity situation.  Also, it is
assumed that the group will adjust its investment program
depending on the industry environment and access to capital, and
that management will stick to its target to keep total debt to
EBITDA below 1.5x. Standard & Poor's will closely monitor the
group's financial policy in areas such as acquisitions and
leverage.  No major debt-financed acquisition is factored into
the current ratings or outlook.

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 on:
media_europe@standardandpoors.com.

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


GARANT-STROY: Claims Deadline Expires Next Week
-----------------------------------------------
The Arbitration Court of Chuvashiya republic has commenced
bankruptcy supervision procedure on limited liability company
Garant-Stroy (TIN 2128045746).  The case is docketed as
A79-4449/2005.  Mr. N. Maksimov has been appointed temporary
insolvency manager.

Creditors have until Aug. 2, 2005 to submit their proofs of claim
to 429960, Russia, Chuvashiya republic, Novocheboksarsk, 10th
Pyatiletki Str. 35-109.  A hearing will take place on Oct. 4,
2005, 3:15 p.m. at the Arbitration Court, Room #209.

CONTACT:  GARANT-STROY
          428003, Russia, Chuvashiya republic,
          Cheboksary, Engelsa Str. 28-37

          Mr. N. Maksimov
          Temporary Insolvency Manager
          429960, Russia, Chuvashiya republic, Novocheboksarsk,
          10th Pyatiletki Str. 35-109


KOTLASSKIY LESOPILNYJ: Bankruptcy Hearing Set November
------------------------------------------------------
The Arbitration Court of Arkhangelsk region has commenced
bankruptcy supervision procedure on limited liability company
Kotlasskiy Lesopilnyj Derevoobrabatyvayushiy Combine.  The case
is docketed as AO-5-6101/05-8.  Mr. P. Nizov has been appointed
temporary insolvency manager.

Creditors may submit their proofs of claim to 170000, Russia,
Tver, Post User Box 121.  A hearing will take place on Nov. 25,
2005, 2:00 p.m.

CONTACT:  KOTLASSKIY LESOPILNYJ DEREVOOBRABATYVAYUSHIY COMBINE
          163500, Russia, Arkhangelsk region,
          Kotlas, S-Shedrina Str. 2b

          Mr. P. Nizov
          Temporary Insolvency Manager
          170000, Russia, Tver region,
          Post User Box 121

          The Arbitration Court of Arkhangelsk region
          163000, Russia, Arkhangelsk region,
          Loginova Str. 17


METROMEDIA INTERNATIONAL: To Close Sale of PeterStar Next Week
--------------------------------------------------------------
Metromedia International Group, Inc., the owner of interests in
various communications and media businesses in the countries of
Russia and Georgia, on Wednesday agreed that the parties to the
agreement concerning the pending sale of the Company's interest
in PeterStar ZAO have reached an agreement to close the PeterStar
Sale on August 1, 2005, rather than August 8, 2005 as previously
announced.

The Company also affirmed its commitment to utilize a portion of
the proceeds of the PeterStar Sale to redeem all of the Company's
outstanding 10 1/2% Senior Notes due 2007.  The Company presently
expects to complete the redemption on August 8, 2005.

About Metromedia International Group

Through its wholly owned subsidiaries, the Company owns interests
in communications and media businesses in the countries of Russia
and Georgia.  Since the first quarter of 2003, the Company has
focused its principal attentions on the continued development of
its core telephony businesses, and has substantially completed a
program of gradual divestiture of its non-core cable television
and radio broadcast businesses.  The Company's core telephony
businesses includes Magticom, Ltd., the leading mobile telephony
operator in Tbilisi, Georgia, and Telecom Georgia, a
well-positioned Georgian long distance telephony operator.

CONTACT:  METROMEDIA INTERNATIONAL GROUP, INC.
          Ernie Pyle
          Phone: 704-321-7380
          E-mail: investorrelations@mmgroup.com


MOS: Insolvency Manager Takes over Company
------------------------------------------
The Arbitration Court of Moscow has commenced bankruptcy
supervision procedure on limited liability company Mos.  The case
is docketed as A40-26503/05-123-46B.  Mr. E. Vrubel has been
appointed temporary insolvency manager.  Creditors have until
Aug. 2, 2005 to submit their proofs of claim to 105037, Russia,
Moscow, Post User Box 8.

CONTACT:  MOS
          115093, Russia, Moscow region,
          Lyusinovskaya Str. 36/50

          Mr. E. Vrubel
          Insolvency Manager
          105037, Russia, Moscow region,
          Post User Box 8


MOVABLE MECHANIZED: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on open joint stock company
Movable Mechanized Column-10 (TIN 0225007284).  The case is
docketed as A07-10113/05-G-KhRM.  Mr. A. Dergachev has been
appointed temporary insolvency manager.  Creditors may submit
their proofs of claim to 450057, Russia, Bashkortostan republic,
Ufa, Oktyabrskiy Revolyutsii Str. 54, Apartment 14.

CONTACT:  MOVABLE MECHANIZED COLUMN-10
          452260, Russia, Bashkortostan republic, Ilishevskiy
          region, Verkhneyarkeevo, Kuybysheva Str. 133

          Mr. A. Dergachev
          Temporary Insolvency Manager
          450057, Russia, Bashkortostan republic, Ufa,
          Oktyabrskiy Revolyutsii Str. 54, Apartment 14


RAS: Deadline for Proofs of Claim Next Week
-------------------------------------------
The Arbitration Court of Moscow region has commenced bankruptcy
supervision procedure on close joint stock company Ras.  The case
is docketed as A40-27657/05-36-61B.  Mr. P. Tumbasov has been
appointed temporary insolvency manager.

Creditors have until Aug. 2, 2005 to submit their proofs of claim
to:

(a) RAS
    115419, Russia, Moscow region,
    Post User Box 36

(b) Temporary Insolvency Manager
    125222, Russia, Moscow region,
    Post User Box 44

(c) The Arbitration Court of Moscow region
    107802, Russia, Moscow region,
    N. Basmannaya Str. 10

A hearing will take place on Sept. 22, 2005, 10:00 a.m. at the
Arbitration Court of Moscow region, hall #709.


SPASSKOYE BUILDING-ASSEMBLY: Under Bankruptcy Supervision
---------------------------------------------------------
The Arbitration Court of Primorye region has commenced bankruptcy
supervision procedure on close joint stock company Spasskoye
Building-Assembly Corporation Dal-Steel-Construction.  The case
is docketed as A-51-3859/2005 15-72B.  Mr. G. Grachev has been
appointed temporary insolvency manager.

Creditors have until Aug. 2, 2005 to submit their proofs of claim
to 690024, Russia, Primorye region, Vladivostok, Makovskogo Str.
179, Apartment 31.  A hearing will take place on Sept. 7, 2005.

CONTACT:  SPASSKOYE BUILDING-ASSEMBLY CORPORATION
          DAL-STEEL-CONSTRUCTION
          Russia, Primorye region,
          Spassk-Dalnij, Kommunarov Str. 3a

          Mr. G. Grachev
          Temporary Insolvency Manager
          690024, Russia, Primorye region, Vladivostok,
          Makovskogo Str. 179, Apartment 31


TSERIT INVEST: Under External Management Procedure
--------------------------------------------------
The Arbitration Court of Moscow has commenced external management
bankruptcy procedure on open joint stock company Tserit Invest
(OGRN 1027739219529).  The case is docketed as A54580/04-101-28B.
Mr. A. Alyukaev has been appointed external insolvency manager.

CONTACT:  TSERIT INVEST
          129110, Russia, Moscow region,
          Mira Pr. 72

          Mr. A. Alyukaev
          External Insolvency Manager
          107023, Russia, Moscow region,
          Post User Box 2


YOSHKAR-OLINSKIY FACTORY: Falls into Bankruptcy
-----------------------------------------------
The Arbitration Court of Volgo-Vyatskiy region has commenced
external management bankruptcy procedure on open joint stock
company Yoshkar-Olinskiy Factory Of Timber Engineering.  The case
is docketed as A38-4884-11/10-2005 (A38-4884-11/144-2004).  Mr.
N. Senchenko has been appointed external insolvency manager.

CONTACT:  YOSHKAR-OLINSKIY FACTORY OF TIMBER ENGINEERING
          424037, Russia, Mariy-El republic,
          Yoshkar-Ola, Suvorova Str. 7

          Mr. N. Senchenko
          External Insolvency Manager
          424037, Russia, Mariy-El republic,
          Yoshkar-Ola, Suvorova Str. 7


YUKOS OIL: Allowed to Increase Claims vs. Yugansk Buyer
-------------------------------------------------------
The Moscow Arbitration Court granted a petition Monday filed by
embattled oil company Yukos Oil to increase recoverable losses
from the sale of Yuganskneftegaz, formerly the company's main
production unit, from RUB324.298 billion (US$11.35 billion, or
EUR9.32 billion) to RUB398.792 billion (US$13.96 billion, or
EUR11.46 billion), RIA Novosti reports.

The court decided the case was not fully ready to be heard and
postponed the hearing until August 30.  It also ordered Yukos to
translate into Russian English documents specifying the sums of
its claims.

The Russian Federal Property Fund, some Russian companies and the
Finance Ministry are defendants in the case.  The Federal
Anti-Trust Service, Yuganskneftegaz and the Moscow main
departments of the Justice Ministry and the Federal Bailiff
Service are acting as third parties in the hearings.

The Yukos defense team claims the auction violated several
Russian and international law, including the Convention on the
Protection of Individuals' Rights and Freedoms.  Yukos also said
the Russian Federal Property Fund illegitimately understated the
initial share package price and breached the procedure of
announcing and holding the bidding.

The Bailiff Service passed its decision on auctioning off
Yuganskneftegaz shares to pay for tax arrears on November 18,
2004.  In December, the Russian Federal Property Fund sold the
shares for US$9.35 billion to the unknown Baikal Finance Group,
which was subsequently bought by Russian state-owned oil company
Rosneft.  According to the Russian Justice Ministry, Yukos owed
more than US$2 billion in back taxes as of June 29, 2004.

                            *   *   *

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  But the case was dismissed in February
24, 2005.  Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H.
Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R.
Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed $12,276,000,000 in total
assets and $30,790,000,000 in total debt.

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


YUKOS OIL: Court Evaluates 1995 Loans-for-shares Auction
--------------------------------------------------------
The Moscow Court of Arbitration has started examining a lawsuit
by the Rusatommet law firm declaring the results of a 1995 Yukos
Oil loans-for-shares auction null and void, RIA Novosti reports.

"They are studying the possibility of lawsuits regarding other
auctions.  LUKOIL, Nornickel and shipping companies are all in
the risk zone," Rusatommet spokesman Vladimir Gunich said Monday.

Oligarch and ONEXIMbank President Vladimir Potanin, who was once
deputy prime minister in Viktor Chernomyrdin's government,
suggested holding loans-for-shares auctions.  Acting on behalf of
a banking consortium, Mr. Potanin suggested loaning money to the
Russian government in exchange for federally owned stakes in
major Russian enterprises.  It became obvious then that the
federal budget lacked the money to repay the loans.

Consequently, this concept implied the long-term privatization of
state-run enterprises through the sale of pledged shares.

"Maybe only a political decision is possible here.  This decision
could be most likely explained by Yukos' lawsuits with regard to
Russia in Western courts, rather than by alleged damage to the
plaintiff," Eldar Nazmutdinov, legal counsel at the investment
company Prospect, said.

However, it seems that the type of auctions in questions are the
only area where the government had jurisdiction.

"Loans-for-shares auctions are the only transactions where the
state can do something because such auctions did not amount to
privatization," Andrei Bunich, president of the Russian
Entrepreneurs and Leaseholders Union, said.

He believes that the state would return its assets, if the court
annuls auction results.  Current enterprise owners would also
benefit from this.

"A class of unsure owners has emerged in Russia.  The Sword of
Damocles, i.e. loans-for-shares auctions, is hanging above them.
Instead of opening criminal cases, it would be better to untie
this knot at the court of arbitration," he said.

But some experts say more lawsuits are not the answer.

"Resumed lawsuits in this category would lead to all-out economic
confusion.  It is one thing to 'pluck' the half-dead Yukos.  And
it is an entirely different matter to audit all companies," said
Arkady Volsky, president of the Russian Union of Industrialists
and Entrepreneurs.

                            *   *   *

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  But the case was dismissed in February
24, 2005.  Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H.
Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq., R.
Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed $12,276,000,000 in total
assets and $30,790,000,000 in total debt.

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


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


TRADE LINK: Succumbs to Bankruptcy
----------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Trade Link Ukraine Dnipro (code EDRPOU
23942383) after finding the foreign investments enterprise
insolvent.  The case is docketed as B24/20/05.  Mr. Volodimir
Glyadchenko has been appointed liquidator/insolvency manager.
The company holds account number 26002108195001 at CB Privatbank,
Dnipropetrovsk branch, MFO 305299.

CONTACT:  TRADE LINK UKRAINE DNIPRO
          49041, Ukraine, Dnipropetrovsk region,
          Pratsi avenue, 9

          Mr. Glyadchenko Volodimir
          Liquidator/Insolvency Manager
          49000, Ukraine, Dnipropetrovsk region,
          Kirov Avenue, 96/13

          Economic Court Of Dnipropetrovsk region
          49600, Ukraine, Dnipropetrovsk region,
          Kujbishev Str. 1a


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


365 NETWORK: Hires Begbies Traynor Administrator
------------------------------------------------
Name of company: 365 NETWORK VISION LIMITED
                 (Company No 03450563)

Nature of Business: Manufacturer of Electrical Equipment

Address of Registered Office: Brook House, 56 Guildford Street,
Chertsey, Surrey KT16 9BE

Date of Appointment: July 15, 2005

Joint Administrators' Names and Address: Lloyd Biscoe and Jamie
Taylor (IP Nos 009141 and 002748), both of Begbies Traynor, The
Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1
2EG

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


AARDWORK SOFTWARE: Administrators Take Over Business
----------------------------------------------------
Name of company: AARDWORK SOFTWARE LIMITED
                 (Company No 04211023)

Nature of Business: Software Publishing

Address of Registered Office: 36 Main Street, Over Norton,
Oxfordshire OX7 5PR

Date of Appointment: July 13, 2005

Administrators' Names and Address: Robert C. Keyes and Gareth W.
Roberts (IP Nos 1016 and 1162), both of Hurst Morrison Thomson, 5
Fairmile, Henley-on-Thames, Oxfordshire RG9 2JR

                            *   *   *

Aardwork Software Ltd. is a developer of intelligent version
management and control software solutions.  The company is
headquartered in the heart of the Cotswolds, United Kingdom.  It
was founded in 2002.  Visit http://www.aardwork.com/for more
information.

CONTACT:  AARDWORK SOFTWARE LTD
          37 Main Street
          Over Norton
          Nr Chipping Norton
          Oxfordshire OX7 5PR
          United Kingdom
          Phone: +44 (0) 1608 643094
          Fax: +44 (0) 1608 641566

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


ABBEY MEDIA: Administrators from KPMG Move in
---------------------------------------------
Name of company: ABBEY MEDIA SUPPLIES LTD
                 (Company No 04027763)

Nature of Business: Computer Hardware/Software

Address of Registered Office: St Nicholas House, 31 Park Row,
Nottingham NG1 6FQ

Date of Appointment: July 14, 2005

Administrators' Names and Address: James Douglas Ernle Money and
Mark Jeremy Orton (IP Nos 1317 and 8846), both of KPMG LLP, St
Nicholas House, Park Row, Nottingham NG1 6F

                            *   *   *

Abbey Media offers all types of hardware, software, consumables,
accessories and peripherals including obsolete and hard-to-find
items from most major manufacturers.  Visit
http://www.abbeymg.net for more information.

CONTACT:  ABBEY MEDIA SUPPLIES LTD
          Field House, Field Street
          Shepshed
          Loughborough LE12 9AL
          Leicestershire
          Phone: 01509 560560

          KPMG LLP
          St Nicholas House
          Park Row
          Nottingham
          Nottinghamshire NG1 6FQ
          Phone: 0115 935 3535
          Fax: 0115 935 3500


ABSOLUTE BRIDGING: High Court Orders Liquidation
------------------------------------------------
Company Name: Absolute Bridging Direct Ltd.
              Suite 25 Merchantman House
              Eastern Perimeter Road, Heathrow, TW6 2SR

Company Registration Number: 04181038

Court: High Court of Justice

Date of Filing Petition: 19 October 2004

No. of Matter: 006388 of 2004

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


ALLIED DOMECQ: Sold to Pernod Ricard
------------------------------------
As announced on Tuesday, Pernod Ricard S.A. has completed its
acquisition of Allied Domecq PLC.  Previously, the offer was
approved by regulatory authorities and by shareholders of both
Allied Domecq and Pernod Ricard.  Allied Domecq holds
approximately 51% of Corby Distilleries Limited's outstanding
voting Class A common shares.  With the completion of the
acquisition, Pernod Ricard became Corby's ultimate majority
shareholder.

Subject to the outcome of further discussions, including the
evaluation of its Canadian business strategy, Pernod Ricard has
informed Corby that it intends to retain Corby as the marketer
and distributor in Canada of the former Allied Domecq brands that
it retains.  Separately, Pernod Ricard has agreed to sell to
Fortune Brands several assets, brands, and businesses, including
Canadian Club whisky, Courvoisier cognac, Maker's Mark bourbon,
and Sauza tequila, all of which are currently distributed in
Canada by Corby.  In fiscal 2004, the brands intended to be sold
to Fortune Brands accounted for 16% of Corby's sales volume but
represented approximately 4% of the Company's net operating
revenue, since Corby only earns commission income on these
brands.

Corby does not anticipate any disruption of production of its
owned-brands, which were previously produced under agreement by
Allied Domecq.

Krystyna Hoeg, President and Chief Executive Officer of Corby
stated that "Corby welcomes its new majority shareholder and
looks forward to partnering with Pernod Ricard in Canada."

CONTACT:  CORBY
          John Nicodemo, Chief Financial Officer
          Phone: (416) 369-1859
          http://www.corby.ca

          ALLIED DOMECQ
          Media enquiries:
          Stephen Whitehead, Director, Group Corporate Affairs
          Phone: +44 (0) 7880 783532
                 +44 (0) 20 7009 3927

          CARDEW GROUP
          Anthony Cardew
          Phone: +44 (0) 20 7930 0777

          Investor enquiries:
          Peter Durman, Director, Group Investor Relations
          Phone: +44 (0)7771 974817


ALLIED DOMECQ: Ratings Downgraded to Baa3/P-3
---------------------------------------------
Moody's Investors Service assigned a Baa3 long-term and a Prime-3
short-term senior unsecured guaranteed issuer ratings to Pernod
Ricard S.A.  The outlook on the ratings is negative.  The ratings
reflect Pernod Ricard's completed acquisition of Allied Domecq
plc.  As issuer ratings, they also factor in a package of
guarantees equivalent to the guarantees put in place for the bank
loans recently signed by Pernod Ricard to finance the acquisition
of Allied Domecq.  This is the first time that Moody's has
assigned ratings to Pernod Ricard.

At the same time Moody's downgraded the long-term unsecured
ratings of Allied Domecq to Baa3 from Baa1 and the short-term
ratings of its Commercial Paper programs to Prime-3 from Prime-2.
Allied Domecq's ratings remain on review for further possible
downgrade in view of the subordination to which its bonds and
Commercial Paper may be subject in the event that they fail to
benefit from a guarantee package comparable to that put in place
on the bank loans.

The Baa3 rating of Pernod Ricard reflects Moody's view that the
company's financial profile will remain constrained for a number
of years as a result of its acquisition of Allied Domecq Group.
However, it also takes into account the expectation that the
acquisition will create a global company focused on alcoholic
beverages with a comprehensive and well balanced portfolio that
will be significantly diversified in terms of both geography and
categories, with top global brands likely to drive strong growth
supported by brand equity and expected sustained marketing
support.  The Baa3 rating thus reflects the balance between the
strong business profile and the weak metrics, with the assumption
that the company will be able to reduce debt, initially by means
of asset disposals and from 2007 by generating free cash-flow.

The financial profile of Pernod Ricard is assumed to reflect
these events:

(a) Allied Domecq has been acquired on 26 July 2005 for a total
    consideration of EUR10.7 billion, in addition to the
    assumption of debt estimated at around EUR2.7 billion.  The
    financing scheme for the acquisition includes:

     (i) the disposal of a number of brands to Fortune Brands
        (for a consideration of around EUR4.0 billion),

    (ii) Pernod Ricard equity (EUR2 billion),

   (iii) the disposal of Bushmills (EUR0.3 billion), and

    (iv) new debt for the remainder;

    In addition, Pernod Ricard may also sell Montana brands if
    Diageo decides to exercise the call option it has agreed
    with the company.

(b) The expected conversion of the company's 'Oceane'
    convertible bonds into equity will reduce indebtedness in
    the near term by close to EUR500 million; and

(c) A EUR9 billion financing package that has been committed by
    banks should ensure sufficient financing and liquidity until
    2010, based on Moody's current estimate.

Before the sale of Montana but after the Oceane conversion and
the disposal of brands to Fortune Brands and the disposal of
Bushmills, Moody's expects net on-balance-sheet debt to amount to
around EUR8.6 billion.  In addition, Pernod Ricard intends to
sell the QSR businesses, which Moody's assumes should be achieved
by June 2006, for an expected consideration in excess of EUR1
billion.

Although Pernod Ricard has identified cost and revenue synergies,
Moody's notes that these will require restructuring expenses in
the first two years following the acquisition in order to enable
up to EUR300 million in annual synergies to be generated by June
2007.  Total free cash-flow generation in the first two years
after the acquisition is expected to be very limited in view of
the restructuring costs and the very gradual realization of
synergies.  Only after 2007, when synergies have been achieved,
is free cash flow expected to be significant, at around
EUR450-500 million, allowing for more rapid debt reduction.

The acceptance of very constrained credit metrics for Pernod
Ricard in the context of the rating category during the period
immediately following the acquisition reflects the very solid
operating profitability and the stable cash-flow generation
characteristics of the industry.  It also takes into account the
fact that in this industry operations require a relatively high
level of working capital, in particular inventories, which are
assumed to have a stable value and therefore to not be at risk of
write-downs.

Pernod Ricard's Baa3 rating is also largely based on Moody's
prospective view that execution risks are moderate and therefore
that acceptable credit metrics for the rating category will be
achieved as planned by June 2008.  However, Moody's will monitor
the company's rebuilding of its credit metrics over time.

Although these metrics will initially be stretched, the rating
agency expects Retained Cash-flow (RCF) to net adjusted debt
before working capital to improve to around 11-12% in the year
closing June 2008 after the anticipated synergies have been
achieved, which would position the company well within its
category.  On the back of restructuring expenses, RCF will be
very low in the first two years after the acquisition.  However,
net adjusted debt to EBITDAR should not exceed 5.4 times after
the disposal of QSR and would be expected to drop to materially
below 5 times by June 2008.  The disposal of Montana brands may
also contribute to further deleveraging but is not a condition
for the sustainability of the Baa3 rating.

The negative outlook on the Pernod Ricard ratings reflects these
execution risks:

(a) Managing the Allied Domecq portfolio in the immediate period
    following the acquisition,

(b) The transfer of assets to Fortune Brands,

(c) Reorganizing the distribution activities of the merged
    group,

(d) Restructuring in order to implement expected synergies,

(e) The disposal of QSR

As noted above, Moody's broadly concludes that the execution
risks are moderate and manageable.  The rating agency takes
particular comfort from the company's track record following its
acquisition of Seagram's.  Nevertheless, in view of the number of
steps to be achieved and the high leverage, the company will have
limited room for maneuver.  Should it fail to achieve one of
these steps, a rating downgrade would be considered.

Furthermore, as Pernod Ricard will have very limited flexibility
over the next two years, a failure to achieve the expected free
cash-flow generation and credit metrics on the back of weaker
than expected operating performance or new acquisitions would
also put pressure on the ratings.  On the other hand, if the
various measures are executed as expected and the generation of
synergies appears to be on track, a change in the outlook to
stable would be a likely outcome.

The downgrade of Allied Domecq's senior unsecured ratings
reflects the fact that its acquisition by Pernod Ricard increases
financial risk as a result of the higher leverage, although the
new group will have a stronger business profile.

The long-term ratings are expected to remain on review for
further possible downgrade until such time as Pernod Ricard has
made a decision with respect to whether a guarantee package will
be established in favour of the Allied Domecq bonds.  Pernod
Ricard's bank facilities benefit from the guarantees of material
subsidiaries defined as those representing individually more than
10% of group assets (including Allied Domecq assets and its
subsidiaries).

In the event that Allied Domecq's bonds and Commercial paper
programs were to be guaranteed by the same entities (Pernod
Ricard and group's principal subsidiaries), the ratings would be
aligned with the guaranteed issuer ratings of Pernod Ricard.  In
the absence of such guarantees, Moody's will consider in its
review, subordination implications for Allied Domecq bond and CP
holders in the context of the overall group corporate legal and
debt structure which could result in a further downgrade of the
debt ratings.

These securities, for which Allied Domecq plc is either obligor
or guarantor, were downgraded to Baa3 from Baa1 and remain on
review for possible downgrade:

(a) EMTNs: DEM500 million due December 2005,

(b) EUR800 million due April 2006,

(c) EUR600 million due June 2009; GBP450 million due
    April 2011,

(d) GBP250 million due June 2014

These Commercial Paper programs, for which Allied Domecq plc is
guarantor, were downgraded to Prime-3 from Prime-2 and remain on
review for possible downgrade:

(a) USD2.5 billion Global Commercial Paper program,

(b) French Billet de Tresorerie program

These ratings have been assigned to Pernod Ricard S.A. with
negative outlook:

(a) Senior unsecured guaranteed long-term issuer rating at Baa3,

(b) Senior unsecured guaranteed short-term issuer rating at
    Prime-3,

Pernod Ricard S.A., incorporated in Paris, is a leading worldwide
wine and spirits company with annual sales of EUR3.6 billion in
2004 and pro-forma 2004 annual sales of around EUR5.6 billion pro
forma for the acquisition of Allied Domecq and expected
disposals.  Allied Domecq PLC, headquartered in Bristol, England,
is a leading international wines and spirits company.  The
company recorded sales of GBP3.2 billion in the financial year
ended August 2004.

CONTACT:  MOODY'S FRANCE S.A.
          Paris
          Jean-Michel Carayon
          VP - Senior Credit Officer
          European Corporate Finance

          Paris
          Eric de Bodard
          Managing Director
          European Corporate Finance

          For Journalists
          Phone: 44 20 7772 5456


BESPOKE INVESTMENT: Goes into Liquidation
-----------------------------------------
Company Name: Bespoke Investment Solutions Ltd.
              Shelton House, High Street, Woburn Sands
              Milton Keynes, Bucks, MK17 8SD

Company Registration Number: 04341795

Court: Bristol District Registry

Date of Filing Petition: 19 May 2005

No. of Matter: 2197 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: Sol House, 29 St Katherines Street,
Northampton, NN1 2QZ


BIRCHWOOD GARAGES: Names Grant Thornton Administrator
-----------------------------------------------------
Name of company: BIRCHWOOD GARAGES (T WELLS) LIMITED
                 (Company No 01946890)

Nature of Business: Motor Retail

Address of Registered Office: Lottbridge Drove, Eastbourne, East
Sussex BN23 6PX

Date of Appointment: July 15, 2005

Joint Administrators' Names and Addresses: Martin Gilbert Ellis
(IP No 8678), Grant Thornton House, Melton Street, Euston, London
NW1 2EP, and Nigel Ruddock (IP No 6877), The Explorer Building,
Flemingway, Manor Road, Crawley RH10 9GT

CONTACT:  BIRCHWOOD GARAGES (T WELLS) LIMITED
          16 Beeching Road,
          Bexhill-On-Sea,
          East Sussex TN39 3LJ
          Phone: 01424819608

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

          GRANT THORNTON UK LLP
          The Explorer Building
          Fleming Way
          Manor Royal
          Crawley
          West Sussex RH10 9GT
          Phone: 0870 381 7000
          Fax: 0870 381 7005
          E-mail: nigel.ruddock@gtuk.com


BRITISH AMERICAN: Comparisons Become More 'Demanding'
-----------------------------------------------------
British American Tobacco plc is worried of more demanding
comparisons as it registers higher half-year profits, reports
Sharecast.

Chairman Jan du Plessis said: "Overall, we have had an
exceptional half year, although I feel obliged to remind
shareholders that the comparisons with 2004 will become more
demanding, in the light of the one-off tax benefits that occurred
in the second half of last year."

There are also considerable uncertainties associated with
forecasting finance costs under IFRS.

The cigarette company disclosed results were affected by the
merger of its U.S. unit with RJ Reynolds and the sale of the
Etinera business.

Earnings from operations were up 1% to GBP1.25 billion from
GBP1.25 billion in 2004, despite a decline in revenues from
GBP5.53 billion to GBP4.39 billion.  Interim dividend increased
10% to 14.0 pence per share from 12.7 pence previously.

Earlier, the company revealed plans of closing its Southampton
factory within 18-24 months, which will result in the loss of
some 530 jobs.

In Ireland, its unit PJ Carroll & Co Ltd. has also proposed to
stop manufacturing at its cigarette factory in Dundalk, Co.
Louth, employing 66 people.

The Southampton operation, which manufactures primarily for
export, announced in June that 25% of its production would be
localized to factories in Singapore and Korea.

The company said: "We appreciate that this is a difficult step
but the companies are committed to doing all they can to mitigate
the impact of job losses."

Labor union Amicus has reacted angrily to the decision saying
that although a review was being carried out on the impact of a
previous shift in production, the closure announcement was made
without any prior consultation or discussion with the union.

CONTACT:  BRITISH AMERICAN TOBACCO PLC
          Globe House, 4 Temple Place
          London
          WC2R 2PG, United Kingdom
          Phone: +44-20-7845-1000
          Fax: +44-20-7240-0555
          Web site: http://www.bat.com


CAMBRIDGE APPLIED: Tenon Recovery Administrators Enter Firm
-----------------------------------------------------------
Name of company: CAMBRIDGE APPLIED TECHNOLOGIES LIMITED
                 (Company No 04837969)

Nature of Business: Cladding Maintenance and Repair Work

Address of Registered Office: Unit 8, Greenham Park, Common Road,
Witchford, Ely, Cambridgeshire CB6 2HF

Address of Registered Office: Sherlock House, 73 Baker Street,
London W1U 6RD

Date of Appointment: July 14, 2005

Joint Administrators' Names and Address: Simon Robert Thomas and
Stanley Donald Burkett-Coltman (IP Nos 8920 and 9181), both of
Tenon Recovery, Sherlock House, 73 Baker Street, London W1U 6RD

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


CATERBEST LTD.: Gets Court Approval to Wind-up
----------------------------------------------
Company Name: Caterbest Ltd.
              C/o Begbies Traynor
              Chiltern House, 24-30 King Street
              Watford, WD18 0BP

Company Registration Number: 02802369

Court: High Court of Justice

Date of Filing Petition: 4 April 2005

No. of Matter: 002165 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


CHARACTER GROUP: CEO Leaves Genoa Club on Five-year Ban
-------------------------------------------------------
Further to the announcement made by the Group on 6 July 2005
regarding one of its Directors, Enrico Preziosi, the Board has
been made aware that the Italian football governing body (FIGC)
has found the Genoa Football and Cricket Club of which, Enrico
Preziosi is President and a major shareholder, guilty of
committing a sporting fraud.

Subsequently, the Disciplinary Council of the FIGC has demoted
Genoa Club to the Third Division (C1) of the Italian football
league and also given a five-year ban from any involvement in
sporting business to Enrico Preziosi.

It is understood that the Genoa Club and Enrico Preziosi will be
appealing against these rulings made by the Disciplinary Council
of the FIGC to both the C.A.F. in Rome and in the Courts of
Justice.  However, in the interim, Enrico Preziosi has decided to
resign as President of the Genoa Club although he remains a
substantial shareholder.

No other director of the Character Group has an interest in the
Genoa Club.

Enrico Preziosi, the Chief Executive Officer and Managing
Director of the Character Group, is also President and the
largest shareholder in Giochi Preziosi S.p.A., which holds 22.5%
of the ordinary shares in the Character Group.  Recently it was
announced that 3i had acquired a 40% shareholding in GP.

The Board of Character Group wishes to reiterate that it believes
that this matter has not had nor will have any direct or indirect
effect on the Group or its trading relationship with Giochi
Preziosi S.p.A.

The Company will keep the market and shareholders informed as
appropriate.

                            *   *   *

In April, TCR-Europe reported that Character, the company behind
last Christmas' best-selling toy Robosapien, dipped into the red
in the first half.  According to the Telegraph, the group's
half-year pre-tax profit of GBP2.02 million translated into a
loss of GBP1.93 million.

Executive chairman Richard King said: "Business just dropped off
a precipice in January.  It just turned into a disaster area."

Mr. King attributed the figure to tough market conditions and
price cuts from rival high street retailers like Argos, which
have prevented the group from carrying out any price increases.
The fall of The Gadget Shop, which distributes the robots and
the company's wide range of talking key rings, didn't help
either.

CONTACT:  CHARACTER GROUP PLC
          2nd Floor
          86-88 Coombe Road
          New Malden
          Surrey, KT3 4QS
          Registered No: 3033333
          Phone: 44 (0) 20 8949 5898
          Fax: 44 (0) 20 8336 2585
          Web site: http://www.charactergroup.plc.uk


CHEETAH ACQUISTIONS: EGM Passes Winding-up Resolutions
------------------------------------------------------
At the Extraordinary General Meetings of Cheetah Acquisitions
Limited held on 18 July 2005, the following Resolutions were
passed as a Special Resolution and as an Ordinary Resolution
respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


CHUBB GUARDING: Names PricewaterhouseCoopers Liquidator
-------------------------------------------------------
At the Extraordinary General Meetings of Chubb Guarding Services
Limited held on 18 July 2005, the following Resolutions were
passed as a Special Resolution and as an Ordinary Resolution
respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


CHUBB SECURITY: Liquidators from PwC Move in
--------------------------------------------
At the Extraordinary General Meetings of Chubb Security Limited
held on 18 July 2005, the following Resolutions were passed as a
Special Resolution and as an Ordinary Resolution respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


DARENTH WEIGHING: Creditors Meeting Set in Two Weeks
----------------------------------------------------
The creditors of Darenth Weighing Services Limited (Company No
02612108) will meet on Aug. 10, 2005 at 10:30 a.m.  It will be
held at the offices of Baker Tilly, Lancaster House, 7 Elmfield
Road, Bromley, Kent BR1 1LT.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to John David Ariel and Andrew John Tate of Baker
Tilly, Lancaster House, 7 Elmfield Road, Bromley, Kent BR1 1LT
not later than 12:00 noon, Aug. 9, 2005.

                            *   *   *

Darenth Weighing Services supplies and service weighing equipment
and systems to the chemical, pharmaceutical, food, brewing and
ready mix concrete industries since 1956.  Visit
http://www.darenthweighing.com/for more information.

CONTACT:  DARENTH WEIGHING SERVICES LTD
          The Oaks Business Village
          Lordswood Industrial Estate
          Chatham ME5 8LF
          Kent
          Phone: 01634 868333
          Fax: 01634 868733

          BAKER TILLY
          Lancaster House,
          7 Elmfield Road,
          Bromley, Kent BR1 1LT
          Web site: http://www.bakertilly.co.uk


DATACOMMS TECHNOLOGY: Bristol Court Accepts Winding-up Petition
---------------------------------------------------------------
Company Name: Datacomms Technology UK Ltd.
              5 High Street, Carlton, Bedford
              Bedfordshire, MK43 2JX

Company Registration Number: 03725642

Court: Bristol District Registry

Date of Filing Petition: 19 May 2005

No. of Matter: 2198 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: Sol House, 29 St Katherines Street,
Northampton, NN1 2QZ


ECOQUIP LTD.: Lures Potential Buyers with Strong Customer Base
--------------------------------------------------------------
The administrators of EcoQuip Ltd. have said that there is a good
opportunity for new owners to make a success of the business.

Vivian Bairstow, who was appointed with Paul Davis as Joint
Administrator from Begbies Traynor on July 7, said: "EcoQuip is
fundamentally a good business that would seem to have every
prospect of success under new ownership.

"It has formed strong relationships with its customers, who are
proud to be associated with the environmental benefits of using
refurbished refrigeration units.  As recent recipients of
Investors in People status, as well as being the current Business
in the Community Winner for Central England, it's clear that this
business could do well again in the near future, under
appropriate new owners."

Oxfordshire-based EcoQuip Ltd., one of the country's best-known
suppliers of refurbished commercial refrigeration display
cabinets, has called in the Administrators after a decline in
turnover, compounded by a new, much cheaper source of cabinets
being available causing the refurbishment market to contract.

In recent times, the Company was forced to reduce staffing, which
up to 1 July numbered around 50 employees.  Founded in 1987 as
North and South Installations, the current management team took
over in August 2001, and renamed the business EcoQuip Ltd.

The principal task of the Administrators Begbies Traynor is to
find a buyer for the business.  EcoQuip's main business has been
the refurbishment of refrigerated display cabinets as well as the
supply of new cabinets manufactured in China to a high
specification.  Its customers include some of the U.K.'s major
supermarket groups, including Tesco and Somerfield, numerous
Co-ops, convenience store operator T & S Stores, and
refrigeration equipment manufacturers Linde and Epta Group.

A measure of its success was that it was the first U.K. and
European refrigeration company to receive the coveted ISO14001
Environmental Accreditation.

CONTACT:  ECOQUIP LTD.
          Whitehorse Business Park,
          Stanford In The Vale, Oxon, SN7 8NY
          Phone: 01367 710077
          Fax: 01367 710550
          E-mail: mail@ecoquip.co.uk

          BEGBIES TRAYNOR (SOUTH) LLP
          32 Cornhill, London EC3V 3BT
          Phone: 020 7398 3800
          Fax:   020 7398 3799
          Web site: http://www.begbies.com


EO COM: Leeds Court Okays Liquidation
-------------------------------------
Company Name: EO Com Solutions LLP
              Crosby, Merseyside, L23 5TR

Court: Leeds District Registry

No. of Matter: 477 of 2005

Date of Filing Petition: 5 May 2005

Date of Winding-up Order: 12 July 2005

The proceedings are related to these cases:

(a) Court: Leeds District Registry No. 477 of 2005
    Re John Carmichael-Drage,

(b) In The Leeds District Registry No. 477 of 2005
    Re: Stephanie a Carmichael-Drage,

(c) In The Leeds District Registry No. 477 of 2005
    Re Joanne Goulbourne,

(d) In The Leeds District Registry No. 477 of 2005


EURODIS ELECTRONICS: Hires Deloitte & Touche Administrators
-----------------------------------------------------------
Name of company: EURODIS ELECTRONICS PLC
                 (Company No 02349231)

                 EURODIS ELECTRON PLC
                 (Company No 01723922)

Nature of Businesses: Non-Trading and Holding Company

Address of Registered Office: Electron House, 43 London Road,
Reigate, Surrey RH2 9PW

Date of Appointment: July 15, 2005

Administrators' Names and Address: Neville Bary Kahn and Nicholas
Guy Edwards (IP Nos 008690 and 008811), both of Deloitte & Touche
LLP, PO Box 810, 66 Shoe Lane, London EC4A 3WA

                            *   *   *

The Group was formed in 1995 by the merger of Electron House and
Eurodis, a subsidiary of Elektrowatt.  Eurodis rapidly deployed
and developed a Pan-European infrastructure, offering premier
services to customers and suppliers across Europe. In 2003,
Eurodis currently generates annual sales of approximately EUR430
million.  Visit http://www.eurodis.com/for more information.

CONTACT:  EURODIS ELECTRON PLC
          43 London Road Reigate,
          Surrey RH2 9PW
          Phone: +44 (0) 1737 242464
          Fax: +44 (0) 1737 229600

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


EUROTRANS 2000: Goes into Liquidation
-------------------------------------
Company Name: Eurotrans 2000 Limited

Company Registration Number: 04052808

Address of Registered Office: 3 Clarendon Gardens, Maida Vale,
London, W9 1AY

Court: Bristol District Registry

Date of Filing Petition: 29 March 2005

No. of Matter: 1469 of 2005

Date of Winding-up Order: 13 July 2005. Official Receiver-21
Bloomsbury Street, London, WC1B 3SS


FILOS (UK): Wholesaler Calls in Administrator
---------------------------------------------
Name of company:  FILOS (UK) LIMITED
                  (Company No 3067393)

Nature of Business: Other Wholesale

Address of Registered Office: SL and Co Solicitors, Chester
Court, 1673 High Street, Knowle, Solihull, West Midlands B93 0LL

Date of Appointment: July 13, 2005

Administrators' Names and Address: Neil Tombs and Paul Melville
(IP Nos 7830 and 9313), both of Grant Thornton UK LLP, Recovery
and Reorganisation, Enterprise House, 115 Edmund Street,
Birmingham B3 2HJ

CONTACT:  FILOS (UK) LIMITED
          14 Bottings Industrial Estate,
          Curdridge, Southampton,
          Hampshire SO30 2DY
          Phone: 01489798800

          GRANT THORNTON UK LLP
          Enterprise House,
          115 Edmund Street, Birmingham B3 2HJ
          Phone: 0121 212 4000
          Fax: 0121 212 4014
          Web site: http://www.grant-thornton.co.uk


FKI PLC: Senior Unsecured Debt Rating Affirmed at 'BB'
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' senior
unsecured debt rating on U.K.-based engineering company FKI PLC's
EUR600 million 6.625% bonds due 2010 and removed it from
CreditWatch with negative implications, where it had been placed
on June 10, 2005, pending clarification of mitigating factors
relating to structural subordination.

The rating on the bonds is in line with the 'BB' long-term
corporate rating on FKI and the affirmation reflects our opinion
that there is sufficient mitigation of structural subordination.

Following the recent revision of all ratings on FKI, we have
conducted detailed analysis to ascertain the strength of
mitigation in relation to the apparent structural subordination
of the EUR600 million bond issue.  This subordination exists due
to the bonds being issued at the parent company level.

"We are satisfied that sufficient mitigation is in place such
that bondholders are not unduly disadvantaged by the location of
liabilities within the group structure," said Standard & Poor's
credit analyst Jarrad Oberhardt.

"The affirmation reflects our assessment of the mitigation of
structural subordination, which focuses on the three principal
factors of upstream guarantees, diversity of group operating
subsidiaries, and downstream inter-company loans," he added.

FKI holds upstream guarantees from a number of group holding and
operating companies, including FKI Engineering Ltd. and FKI
Industries Inc.  On a consolidated basis, FKI Engineering Ltd.
accounts for more than one-half of group net tangible assets.
Outside of the parent entity, FKI Industries Inc. is the only
other group entity to have issued any material amount of debt,
consisting of U.S. private placement notes with slightly less
than GBP100 million currently outstanding.  The existence of this
guarantee effectively places bondholders pari passu with holders
of FKI Industries Inc. paper.

A further factor is that the group is operationally organized
across four distinct divisions, which operate independently of
each other.  Within these four divisions, the group's tangible
assets and external liabilities are dispersed between more than
60 legal operating entities.  The presence of autonomous
operating units along with multiple legal entities improves the
prospect that material net residual value will flow to the parent
as individual operating units wind up with shortfalls and
surpluses.

Finally, the group has a large number of formally documented,
downstream, inter-company loans.  Although most of these are
between holding companies only, a moderate amount of group
external liabilities are held at debtor entities.   Presuming
these agreements are legally tight, this is expected to enhance
the standing of bondholders at the parent company level, as the
inter-company loan agreements would bring the creditor entity
pari passu with debtor entities' unsecured debt claims.

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 on:
media_europe@standardandpoors.com.

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


FLOWGUARD FINISHING: Winding-up Petition Gets Court Approval
------------------------------------------------------------
Company Name: Flowguard Finishing (LLC) Ltd
              American National Bank Building, 1912 Capitol
              Avenue, Cheyenne Wy 82001

Company Registration Number: FC019684

Court: High Court of Justice

Date of Filing Petition: 11 May 2005

No. of Matter: 003081 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: Sol House, 29 St Katherines Street,
Northampton, NN1 2QZ


GRANVILLE TECHNOLOGY: 1,500 Workers Axed; 78 Outlets Closed
-----------------------------------------------------------
About 1,500 workers were reportedly stripped of their jobs as
Granville Technology Group Ltd. fell into administration.

According to the Inquirer, the collapse of U.K.'s largest
computer maker came after facing monthly losses of around GBP2
million since the start of 2005.  It has also caused the closure
of 78 retail outlets.

The exit of Granville's directors earlier this week could also be
blamed, according to the report, while administrator Grant
Thornton said the Group has "fallen victim to the continued price
deflation in the personal computer market."

Although helplines have been set up to handle inquiries, the
company has not provided details regarding its creditors.  A lot
of customers who have paid in advance have yet to receive their
orders.

Mike Ellis, one of the administrators from Grant Thornton, said:
"We are hopeful of putting in place customer support through a
call center operation. Anything beyond that, we will have to wait
and see."

Meanwhile, Graham Coxon, Lancashire organizer of the GMB union,
said: "We are devastated by the number of job losses, 600 of
which are in Burnley.  The GMB is angry that management has let
the company run down to this point without saying anything.

He added that they will be urging the Department of Trade and
Industry to conduct a probe on the crisis.

In 2002, according to the Guardian, Granville acquired Tiny
Computers out of administration, which involved debt of more
GBP35 million and two executives banned from holding
directorships.  The ban came after DTI discovered the directors
failed to set aside an amount to cover customer warranties in
case of collapse.

CONTACT:  GRANVILLE TECHNOLOGY GROUP LTD.
          Granville House,
          Blackburn Road,
          Simonstone,
          Burnley,
          Lancashire,
          BB12 7TG
          Phone: 0870 166 8814
          Fax: 01282 770701
          Web site: http://www.timegroup.co.uk

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


GRIFFIN REAL: High Court Orders Winding-up
------------------------------------------
Company Name: Griffin Real Estate Ltd.
              1MARK Road, Hemel Hempstead
              Hertfordshire, HP2 7BN

Company Registration Number: 04955064

Court: High Court Of Justice

Date of Filing Petition: 29 April 2005

No. of Matter: 002848 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


GUARDFORCE INTERNATIONAL: Appoints Joint Liquidators from PwC
-------------------------------------------------------------
At the Extraordinary General Meetings of Guardforce International
Headquarters Limited held on 18 July 2005, the following
Resolutions were passed as a Special Resolution and as an
Ordinary Resolution respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


HOME & CONTRACT: Bristol Court Approves Liquidation
---------------------------------------------------
Company Name: Home & Contract Clean Limited
              Equinox House, Clifton Park Avenue
              York, YO30 5PA

Company Registration Number: 04662256

Court: Bristol District Registry

Date of Filing Petition: 13 May 2005

No. of Matter: 2152 of 2005

Date of Winding-up Order: 13 July 2005

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


IMPLANTS (INTERNATIONAL): Calls in Begbies as Administrator
-----------------------------------------------------------
Name of company: IMPLANTS (INTERNATIONAL) LIMITED
                 (Company No 03037740)

Nature of Business: Surgical Implants

Address of Registered Office: c/o Begbies Traynor, 30 Park Cross
Street, Leeds LS1 2QH

Date of Appointment: July 6, 2005

Administrators' Names and Address: Neil Andrew Brackenbury and
Michael Edward George Saville (IP Nos 8269 and 0250), both of
Begbies Traynor, 30 Park Cross Street, Leeds LS1

CONTACT:  BEGBIES TRAYNOR
          30 Park Cross Street,
          Leeds LS1 2QH
          Web site: http://www.begbies.com


JOINT BUILDING: Gets Court Approval to Wind-up
----------------------------------------------
Company Name: Joint Building Supplies Ltd.

Company Registration Number: 04031188

Address of Registered Office: Plas Y Dre, Bridge Street, Corwen,
LL21 0AB

Court: Birmingham District Registry

Date of Filing Petition: 2 December 2004

No. of Matter: 3151 of 2004

Date of Winding-up Order: 14 March 2005

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


LEY'S FOUNDRIES: Calls PwC as Liquidator
----------------------------------------
At the Extraordinary General Meetings of Ley's Foundries &
Engineering Limited held on 18 July 2005, the following
Resolutions were passed as a Special Resolution and as an
Ordinary Resolution respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


LOGIC HOLDINGS: Hires Administrators from Tenon Recovery
--------------------------------------------------------
Name of company: LOGIC HOLDINGS LIMITED
                 (Company No 05076313)

Nature of Business: Management Activities of Holding Companies

Address of Registered Office: Unit 8, Greenham Park, Common Road,
Witchford, Ely, Cambridgeshire CB6 2HF

Address of Registered Office: Sherlock House, 73 Baker Street,
London W1U 6RD

Date of Appointment: July 14, 2005

Joint Administrators' Names and Address: Simon Robert Thomas and
Stanley Donald Burkett-Coltman (IP Nos 8920 and 9181), both of
Tenon Recovery, Sherlock House, 73 Baker Street, London W1U 6RD.

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


LOGIC ROOFING: Joint Administrators Take over Operation
-------------------------------------------------------
Name of company: LOGIC ROOFING & CLADDING LIMITED
                 (Company No 04363906)

Nature of Business: Erection of Roof Covering and Frames

Address of Registered Office: Sherlock House, 73 Baker Street,
London W1U 6RD

Date of Appointment: July 14, 2005

Joint Administrators' Names and Address: Simon Robert Thomas and
Stanley Donald Burkett-Coltman (IP Nos 8920 and 9181), both of
Tenon Recovery, Sherlock House, 73 Baker Street, London W1U 6RD

CONTACT:  LOGIC ROOFING & CLADDING LIMITED
          The Barn, 93 Stretham Road,
          ELY, Cambridgeshire CB6 3RY
          Phone: 01353647100

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


METRONOMY DESKTOP: Court Accepts Petition to Wind-up
----------------------------------------------------
Company Name: Metronomy Desktop Marketing Limited
              18 Soho Square, London, W1D 3QL

Company Registration Number: 04775467

Court: High Court of Justice

Date of Filing Petition: 28 April 2005

No. of Matter: 002815 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


METZLER INTERNATIONAL: Calls in Administrator
---------------------------------------------
Name of company: METZLER INTERNATIONAL (U.K.) LIMITED
                 (Company No 2722897)

Nature of Business: Other Wholesale

Address of Registered Office: SL and Co Solicitors, Chester
Court, 1673 High Street, Knowle, Solihull, West Midlands B93 0LL

Date of Appointment: July 13, 2005

Administrators' Names and Address: Neil Tombs and Paul Melville
(IP Nos 7830 and 9313), both of Grant Thornton UK LLP, Recovery
and Reorganisation, Enterprise House, 115 Edmund Street,
Birmingham B3 2HJ

                            *   *   *

The Metzler International Group was forged in 2002 from the union
of the German company Metzler International and the Italian
companies Filos S.p.A. and United Optical.  Visit
http://www.metzlerinternational.comfor more information.

CONTACT:  GRANT THORNTON UK LLP
          Enterprise House,
          115 Edmund Street, Birmingham B3 2HJ
          Phone: 0121 212 4000
          Fax: 0121 212 4014
          Web site: http://www.grant-thornton.co.uk


MG ROVER: Announcement Delay Stirs More Controversy
---------------------------------------------------
MG Rover's new owner Nanjing Automobile is yet to announce its
commitment regarding the revival of production at Longbridge,
says The Guardian.

A spokesman for the Chinese firm said: "We were hoping to make an
official statement about the future of Longbridge [Thurs]day. We
are not able to do that but as soon as we are, we will."

Nanjing, which bought Rover for around GBP50 million last week,
has vowed to create a design, engineering and manufacturing
facility in the United Kingdom.

It is unclear yet as to the actual location, although Nanjing
said it will "seriously consider" Longbridge for the site of the
facility.  The company has also reportedly met with people from
St. Modwen, which owns most of the 330-acre property.

Nanjing earlier said it planned "consolidating the Longbridge
site" as it worked to build a "viable automotive business in
China and the U.K."

A representative from the firm is positive that the project would
progress without violating the intellectual property rights that
are owned by SAIC.

It also remains uncertain as to when the U.K. business will be
established, with some analysts expecting production to start in
18 months.

The delay combined with Nanjing's plan to sell stakes of MG Rover
to losing bidders bolstered doubts over Nanjing's ability to
conclude the acquisition.

Rival bidder Shanghai Automotive Industry Corporation earlier
expressed disappointment over the turnout of the sale talks and
said it is considering taking legal action, among other options.
The company has already called in law firm Baker & Mackenzie to
handle the matter, the Financial Times reported.

The Guardian said SAIC remains "completely committed" to
establishing its presence in the international car industry,
particularly in Europe.

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


MIRACLE SOLUTIONS: Names P&A Partnership Administrator
------------------------------------------------------
Name of company: MIRACLE SOLUTIONS (GB) LIMITED
                 (Company No 04864293)

Nature of Business: Recruitment Company

Address of Registered Office: 93 Queen Street, Sheffield S1 1WF

Date of Appointment: July 14, 2005

Administrators' Names and Address: Allan Cooper and Derek Leslie
Woolley (IP Nos 5546 and 6047), both of The P&A Partnership, 93
Queen Street, Sheffield S1 1WF

                            *   *   *

Visit http://miraclesolutions-gb.co.uk/for more information.

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


MOONMORE LIMITED: Calls in Liquidators from PwC
-----------------------------------------------
At the Extraordinary General Meetings of Moonmore Limited held on
18 July 2005, the following Resolutions were passed as a Special
Resolution and as an Ordinary Resolution respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


MULLIGANS BAR: In Administrative Receivership
---------------------------------------------
Name of company: MULLIGANS BAR CAFE LIMITED
                 (Reg No 03658593)

Other Trading Names used within 12 months preceding appointment:
Mulligans

Nature of Business: Licensed Premises

Trade Classification: 48

Date of Appointment of Joint Administrative Receivers: July 12,
2005

Name of Person Appointing the Joint Administrative Receivers:
Scottish Courage Limited

Joint Administrative Receivers: Steven Williams and Andrew Dick
(Office Holder Nos 8887 and 8688), both of Begbies Traynor, 1
Winckley Court, Chapel Street, Preston PR1 8BU

Nature of Instrument: The appointment was made under the powers
conferred in a legal charge dated 17 February 1999 granting fixed
and floating charges over substantially the whole of the Company'
s assets and undertaking.

CONTACT:  BEGBIES TRAYNOR
          1 Winckley Court
          Chapel Street
          Preston PR1 8BU
          Phone: 01772 202000
          Fax: 01772 200099
          E-mail: preston@begbies-traynor.com
          Web site: http://www.begbies.com


MYTRAVEL GROUP: Credit Facilities Fees to Cost GBP10 Mln Yearly
---------------------------------------------------------------
MyTravel Group plc has noted that on 26 July 2005, the middle
market closing price of its ordinary shares (of which there are
currently 434,152,761) was 201p and the middle market price of
its convertible preference shares (of which there are currently
19,565,753) was 177p.  The combined market capitalization of
these two securities was GBP907 million.

Under the terms of the Group's Bonding and Letters of Credit
facilities (which were described in its Listing Particulars dated
30 December 2004), if the combined market capitalization of
MyTravel's ordinary and convertible preference shares is GBP943
million or more for 30 consecutive days, a "normalization event"
will have occurred, and the company will be required to start
payments of fees for Bonding and Letters of Credit facilities at
rates of 2% for drawn and 1% for undrawn facilities.  The total
Bonding and Letters of Credit facilities affected by this
arrangement are approximately GBP550 million and the fees that
would become payable would increase the Group's costs by
approximately GBP10 million on an annual basis.

                            *   *   *

Mytravel is currently undergoing a restructuring that includes:

(a) The conversion into MyTravel equity of approximately GBP800
    million of unsecured debt and facilities, including:

     (i) GBP250 million revolving credit facility,

    (ii) US$100 million U.S. private placement,

   (iii) GBP210 million minority interest preference shares,

    (iv) certain elements of aircraft lease financing
         arrangements,

     (v) GBP216 million of convertible bonds

(b) On completion of the restructuring:

     (i) Converting creditors (other than bondholders) would be
         issued new shares representing 88% of the company's
         enlarged share capital;

    (ii) Converting bondholders would be issued new shares
         representing 8% of the company's enlarged share
         capital.  This allocation has been made on a
         similar basis to the other converting creditors;

   (iii) Shareholders would retain 4% of the enlarged share
         capital.

(c) The provision at no material cost to the company of new 5-
     year committed facilities by the parties to the company's
     GBP400 million bonding facility and providers of bilateral
     guarantee and letters of credit facilities (amounting in
     aggregate to approximately GBP167 million).

(d) The company has proposed a timetable for the restructuring
    that would see it completed by the end of 2004.

(e) On completion of the restructuring, the company's debt will
     be approximately GBP140 million of aircraft finance leases.

CONTACT:  MYTRAVEL GROUP PLC
          Phone: 0161 232 6523

          Peter McHugh
          Chief Executive Officer

          John Allkins
          Finance Director

          BRUNSWICK
          Fiona Antcliffe
          William Cullum
          Phone: 020 7404 5959


NATIONWIDE SCHOOL: In Liquidation
---------------------------------
Company Name: Nationwide School of Motoring Limited

Trading Name: Nationwide School of Motoring Limited

Company Registration Number: 03664849

Address of Registered Office: 52 Penny Lane, Liverpool, L18 1DG

Court: High Court of Justice

Date of Filing Petition: 31 May 2005

No. of Matter: 003546 of 2005

Date of Winding-up Order: 13 July 2005

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


OULSTON COMPUTERS: Falls into Liquidation
-----------------------------------------
Company Name: Oulston Computers Limited
              Unit 9 Cross Street, Stone
              Staffordshire, ST15 8DH

Company Registration Number: 03925567

Court: High Court of Justice

Date of Filing Petition: 26 May 2005

No. of Matter: 003453 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: Ground Floor, Copthall House, King
Street, Newcastle-Under-Lyme, ST5 1UE


PLAS-TECH WINDOWS: Court Okays Winding-up
-----------------------------------------
Company Name: Plas-Tech Windows Ltd.
              55 Heathcote Drive, East Grinstead
              West Sussex, RH19 1NB

Company Registration Number: 04037486

Court: High Court of Justice

Date of Filing Petition: 31 March 2005

No. of Matter: 002059 of 2005

Date of Winding-up Order: 25 May 2005

Official Receiver's Address: 6th Floor, Sunley House, Bedford
Park, Croydon, CR9 1TX


POPIN FISH: Gets Court Approval to Liquidate
--------------------------------------------
Company Name: Popin Fish Bar
              Ingoldmells, Lincolnshire, PE25 1PG

Court: High Court of Justice

No. of Matter: 003545 of 2005

Date of Filing Petition: 31 May 2005

Date of Winding-up Order: 13 July 2005

The proceedings are related to High Court of Justice case no.
003545 of 2005


QUEST INTERNATIONAL: Administrators from Kroll Limited Move in
--------------------------------------------------------------
Name of company: QUEST INTERNATIONAL SPORTS EVENTS LIMITED
                 (Company No 04840227)

Nature of Business: Event Organization

Address of Registered Office: Number 15, The Coda Centre, 189
Munster Road, Fulham, London SW6 6AW

Date of Appointment: July 15, 2005

Administrators' Names and Address: Simon J. Appell and Peter M.
Saville (IP Nos 9305 and 9029), both of Kroll Limited, 10 Fleet
Place, London EC4M 7RB

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


SAINSBURYS OF BOURNEMOUTH: Creditors Meeting Set August 9
---------------------------------------------------------
The creditors of Sainsburys Of Bournemouth Limited will meet on
Aug. 9, 2005 at 11:00 a.m.  It will be held at The Roundhouse
Hotel, 1 Meyrick Road, Lansdowne, Bournemouth BH1 2PR.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to M. F. Stevenson of Middleton Partners, 65 St
Edmund's Church Street, Salisbury, Wiltshire SP1 1EF not later
than Aug. 8, 2005 at 12:00 noon.

                            *   *   *

The company is an antique shop.

CONTACT: SAINSBURYS OF BOURNEMOUTH LTD
         23-25 Abbott Road, Bournemouth, BH9 1EU
         Phone: 01202 529271
         Fax: 01202 510028
         E-mail: sales@sainsburys-antiques.com

          MIDDLETON PARTNERS
          65 St Edmunds Church Street,
          Salisbury, Wiltshire SP1 1EF
          Phone: 01722 435 192
          Fax: 01722 421102
          Web site: http://www.middletonpartners.co.uk


SOFTWARE STORE: Administrators from Hazlewoods Take over Biz
------------------------------------------------------------
Name of company: SOFTWARE STORE LIMITED
                 (Company No 04264370)

Nature of Business: Games and Software Retail

Address of Registered Office: 46 Westgate Street, Gloucester GL1
2NF

Date of Appointment: July 15, 2005

Administrators' Names and Address: Philip John Gorman and Peter
Richard James Frost (IP Nos 008069 and 008935), both of
Hazlewoods LLP, Windsor House, Barnett Way, Barnwood, Gloucester
GL4 3RT.

CONTACT:  SOFTWARE STORE LTD.
          Evesham Walk, Kingfisher Centre,
          Redditch, Worcestershire B97 4EX
          Phone: 01527585900

          HAZLEWOODS
          Windsor House, Barnett Way,
          Barnwood, Gloucester GL4 3RT
          Phone: +44 (0) 1452 634800
          Fax:  +44 (0) 1452 371900
          Web site: http://www.hazlewoods.co.uk


STANLEY J HOLMES: Hires Hodgsons Administrator
----------------------------------------------
Name of company: STANLEY J HOLMES & SONS LIMITED
                 (Company No 02046606)

Nature of Business: Wallcovering Manufacturing

Address of Registered Office: Vale Mill, Chamber Road, Hollinwood
OL8 4PG

Date of Appointment: July 15, 2005

Administrators' Names and Address: David E. M. Mond and Lawrence
I. Freedman (IP Nos 002340 and 006749), both of Hodgsons, George
House, 48 George Street, Manchester M1 4HF

                            *   *   *

Visit http://www.sjholmes.co.uk/for more information.

CONTACT:  STANLEY J HOLMES & SONS LIMITED
          Vale Mill
          Chamber Road
          Hollinwood
          Oldham OL8 4PG
          United Kingdom
          Phone: 0161-621 3000
          Fax: 0161-627 2046

          HODGSONS
          George House
          48 George Street
          Manchester
          Greater Manchester M1 4HF
          Phone: 0161 228 7444
          Fax: 0161 228 735
          E-mail: dmond@hodgsons.co.uk


TANEX RESOURCES: Receives Court Approval to Liquidate
-----------------------------------------------------
Company Name: Tanex Resources Plc
              Lacon House, Theobalds House, Theobalds Road,
              London, WC1X 8RW

Company Registration Number: 04297592

Court: High Court of Justice

Date of Filing Petition: 23 May 2005

No. of Matter: 003365 of 2005

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


TELEWEST GLOBAL: To Reveal Second-quarter Figures Next Month
------------------------------------------------------------
Telewest Global, Inc. will be announcing its Second Quarter 2005
results on Thursday, August 11, 2005 at 7:00 a.m. Easter Daylight
Time, 12:00 noon U.K. time.

The company will host a conference call to discuss those results
on August 11, at 9:00 a.m. EDT, 2 p.m. UK time.

To participate in the conference call, contact:

United States: +1 617 224 4324
United Kingdom: +44 207 365 8426
Passcode: Telewest.

To hear a live Web cast of the call and view presentation slides,
visit the Company's website at
http://ir.telewest.co.uk/phoenix.zhtml?c=76808&p=

A replay of the Web cast will be available for twelve months,
while a replay of the teleconference will be available from 11:00
a.m. EDT on August 11, for 7 days.

                            *   *   *

In December, Standard & Poor's Ratings Services raised its
long-term corporate credit rating on Telewest Global (formerly
known as Telewest Communications Networks Ltd.) to 'BB-' from
'CCC+', following the group's announcement of underwritten
refinancing.  The ratings were removed from CreditWatch, where
they were placed on Aug. 20, 2004.  The outlook was stable.

It has also executed a commitment letter for new GBP1.8 billion
credit facilities that will be used to replace outstanding
borrowings under the Telewest group's existing GBP2.03 billion
senior credit facilities.

Barclays Bank PLC, BNP Paribas, Citigroup Global Markets
Limited, Credit Suisse First Boston, Deutsche Bank and Royal
Bank of Scotland will underwrite the new facilities.  As a
result of the planned transaction, Telewest will have
significantly extended the maturity profile of its senior credit
facilities, the majority of which currently mature in December
2005, and reduced its overall long-term cost of borrowing.

CONTACT:  TELEWEST GLOBAL, INC.
          160 Great Portland St.
          London
          W1W 5QA, United Kingdom
          Phone: +44-20-7299-5000
          Fax: +44-20-7299-5495
          Web site: http://www.telewest.co.uk

          Richard Williams
          Phone: 020 7299 5479

          Vani Gupta
          Phone: 020 7299 5353


THUS GROUP: Turnover Stable; Trading in Line with Expectations
--------------------------------------------------------------
At its Annual General Meeting in Glasgow, THUS Group plc provided
an update on trading.

Since the start of the current financial year, THUS has continued
to grow across all three of its key divisions of Managed
solutions, Data and telecoms and Internet services.  The
Company's ability to sustain growth has been underpinned by its
strength in the delivery of converged services and by continued
expansion in broadband.

New corporate customers won since the beginning of the current
financial year include broadcasters EMAP Radio and SMG and
support services group Babcock International.  These customers
have opted for THUS networking solutions backed by advanced Multi
Protocol Label Switching (MPLS) technology, which enables voice,
data and other applications to be carried seamlessly over a
single, integrated network platform.  MPLS services have also
driven expanded business with existing customers, including
Johnston Press, The Funding Corporation and a large banking
group.

Turnover to date from carrier pre-select has been relatively
stable following the fall in turnover from this service in the
second half of last financial year.

As expected, the beneficial impact from new services growth on
profit margins has been diluted by the ongoing migration of
customers from traditional, high margin dial-up Internet access
services to broadband and the new terms of last year's major
contract renewals.  Nonetheless, THUS maintains tight control of
operating costs, continues to focus on cash generative business,
and trading is currently in line with full year market
expectations.

William Allan, Chief Executive, said: "THUS has one of the U.K.'s
most advanced core networks and continues to respond vigorously
to the challenging competitive dynamics in the U.K.
telecommunication market with a focus on converged services.
Converged services deliver cost and flexibility advantages for
business customers as well as growth and cash generation for
THUS.  Our service innovation and capability continues to propel
us forward and gives the Board confidence in continued revenue
growth and cash generation over the current year."

CONTACT:  THUS GROUP PLC
          Corporate communications and PR
          1/2 Berkeley Square
          99 Berkeley Street
          Glasgow
          G3 7HR
          Phone: 0141 567 1234
          Fax: 0141 566 3035
          E-mail: thus.enquiries@thus.net
          Web site: http://www.thus.net


WADE SMITH: Administrators from PKF Take over Operation
-------------------------------------------------------
Name of company: WADE SMITH LIMITED
                 (Company No 01832162)

Nature of Business: Fashion Retailer

Address of Registered Office: New Guild House, 45 Great Charles
Street, Queensway, Birmingham B3 2LX

Date of Appointment: July 15, 2005

Administrators' Names and Addresses: Ian J. Gould (IP No 7866),
of PKF (UK) LLP, 45 Great Charles Street, Queensway, Birmingham
B3 2LX, and Jonathan D. Newell and Kerry F. Bailey (IP Nos 6419
and 8780), both of PKF (UK) LLP, Sovereign House, Queen Street,
Manchester M2 5HR.

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

          PKF
          New Guild House
          45 Great Charles Street
          Queensway
          Birmingham
          West Midlands B3 2LX
          Phone: 0121 212 2222
          Fax: 0121 212 2300
          E-mail: ian.gould@uk.pkf.com

          PKF
          Sovereign House,
          Queen Street, Manchester M2 5HR
          Phone: 0161 8325481
          Fax:   0161 8323849
          E-mail: info.manchester@uk.pkf.com
          Web site: http://www.pkf.co.uk


WHITEHEAD MANN: New Partners, Consultants Join Firm
---------------------------------------------------
Whitehead Mann Group Plc, the Executive Search and Leadership
Solutions Consultancy, has four new senior appointments.

Colin Franklin and James Hinds join as partners from IBM and
Marakon Associates, respectively, and Megan Evans and Michael
Ferndale join as consultants from Cap Gemini Ernst & Young and
Norman Broadbent, respectively.

In addition, five existing consultants -- Sonia d'Emilio,
Dominique Finelli, Angela Hocter, Adrian Sims, Elizabeth
Williamson -- have been promoted to partner.

Chris Merry, Chief Executive, said: "Attracting, retaining and
developing the best people is fundamental to our success.  Not
only do we continue to hire outstanding talent to develop our
practice areas but we also have a strong culture of promoting our
best consultants, who represent the future of the firm. These
appointments and promotions are in continuance of the successful
implementation of our business plan announced earlier this year."

                            *   *   *

The U.S.-based unit of Whitehead Mann Group Plc -- the sixth
largest executive search firm in the world -- filed a
prepackaged chapter 11 plan of liquidation in the U.S.
Bankruptcy Court for the Southern District of New York on March
31, 2005.  This came after Whitehead Mann warned it
is likely to reveal a GBP20 million annual loss.

The company is implementing a Strategic Plan to take the business
forward.

Group turnover for the year to 31 March 2005, from continuing
operations, was GBP47.2 million (2004: GBP55.0 million).
Operating profit from continuing operations before exceptionals
was GBP2.0 million (2004: GBP9.1 million).  Exceptional
operating costs of GBP9.1 million resulted in an operating loss
after exceptionals for the year of GBP9.0 million (2004:
operating profit GBP4.8 million).

CONTACT:  WHITEHEAD MANN GROUP PLC
          14 Hay's Mews
          London
          United Kingdom
          W1J 5PT
          Phone: +44 20 7290 2000
          Fax: +44 20 7290 2050
          Web site: http://www.wmann.com

          Chris Merry, Chief Executive
          Phone: +44 (0)20 7290 2000
          Brunswick Group LLP
          James Bradley
          Rupert Young
          Phone: +44 (0)20 7404 5959


WILLIAMS UK: Appoints PwC Liquidator
------------------------------------
At the Extraordinary General Meetings of Williams UK Products
Limited held on 18 July 2005, the following Resolutions were
passed as a Special Resolution and as an Ordinary Resolution
respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


WM MORRISON: Like-for-like Half-year Sales Up 5%
------------------------------------------------
Wm Morrison Supermarkets plc has issued a pre-close sales update
for half-year ended July 24.

Total like-for-like sales for the continuing business for the
half-year have increased by 5% or 2.6% excluding fuel.

Like-for-like sales breakdown:

(a) Stores now converted to Morrisons (from Safeway) increased
    sales by 11.6% or 10.9% excluding fuel.  However, these
    figures include any "unconverted period" during the half-
    year and, when this unconverted period is excluded,
    converted stores like-for-like sales increased by 15.7% or
    15.6% excluding fuel.  This sales uplift is driven by
    customer numbers increasing by 23.2% post conversion;

(b) Continuing Safeway stores awaiting conversion traded
    positively with like-for-like sales increasing by 3.9% or
    3.4% excluding fuel; and

(c) Like-for-like sales in the core Morrison estate increased by
    1.1% but excluding fuel were down 2.7% as stores adjusted to
    the one-time impact of Safeway stores sold to competitors
    resulting from undertakings given to the Office of Fair
    Trading as part of the Safeway acquisition.  There was also
    some cannibalization of sales resulting from Safeway stores
    converting to Morrisons.

Group sales, on a statutory accounting basis, were GBP6.363
billion, an increase of 3% influenced by an extra 5-week
contribution from Safeway stores.  On a strictly comparable
25-week basis, sales decreased by 7.4% reflecting primarily the
sale of 181 stores over the past year.

Store Conversion Process

At the half-year end, 148 former Safeway stores had been
converted to Morrisons and there were 280 stores successfully
operating to the Morrisons format.

The company remains on track to complete the accelerated
conversion process by late November 2005 by which time 360 stores
across the U.K. will be trading as Morrisons.  This group of
stores will comprise over 10-meter square feet of selling space,
averaging 28,500 square feet per store with a 92% freehold
content.

Customers benefit from an enhanced food product range and better
service in well maintained stores.  They also enjoy Morrisons
great value.  In the recent Grocer Magazine annual awards, the
company came in first for best product availability and customer
service.

In 2006 and 2007, the company will focus on the optimization of
the remodeled and much larger Morrisons store portfolio it has
created through a period of immense change.

Store Disposals

A number of contracts to dispose of former Safeway stores are at
various stages of the legal process.  These are stores, which
would not successfully carry the Morrisons brand and generally
are leasehold and fully rented.

New Stores & Major Extensions

New stores have been successfully opened this year in Scotland;
at Hamilton and Auchinlea (Glasgow).  There are 5 further new
openings in the second half of the year; 3 more in Scotland and 2
in southern England.  Major extensions are being added to stores
at Coventry and Hinckley; 4 other major extensions having been
completed in the first half of the year.

Board

Brian Flanagan, Susan Murray and Nigel Robertson joined the Board
on 1 July.  As independent non-executive directors, together with
David Jones, they will each be members of the Nomination,
Remuneration and Audit Committees.  The Nomination Committee will
be chaired by Sir Ken Morrison, the Remuneration and Audit
Committees by David Jones.  KPMG continues their review of the
Group's financial forecasts, reporting to the Board.  The Board
remains comfortable with its profit guidance for 2005/06 issued
on 8 June.

CONTACT:  WM MORRISON SUPERMARKETS PLC
          Hilmore House
          Thornton Road
          Bradford
          West Yorkshire
          England
          BD8 9AX
          Phone: +44 1274 494166
          Fax: +44 1274 494831
          Web site: http://www.morereasons.co.uk


YOUR NEW: High Court Approves Winding-up Petition
-------------------------------------------------
Company Name: Your New Homes Ltd.
              44 Upper Belgrave Road
              Clifton, Bristol, Avon, BS8 2XN

Company Registration Number: 04571672


Court: High Court of Justice

Date of Filing Petition: 19 October 2004

No. of Matter: 006389 of 2004

Date of Winding-up Order: 13 July 2005

Official Receiver's Address: 21 Bloomsbury Street, London, WC1B
3SS


Y & V LIMITED: In Voluntary Liquidation
---------------------------------------
At the Extraordinary General Meetings of Y & V Limited held on 18
July 2005, the following Resolutions were passed as a Special
Resolution and as an Ordinary Resolution respectively:

"That each Company be wound up voluntarily, that Jonathan Sisson
and Richard Setchim, of PricewaterhouseCoopers LLP, 12 Plumtree
Court, London EC4A 4HT, be and are hereby appointed Joint
Liquidators of each Company for the purposes of such winding-up,
and any act required or authorized under any enactment to be done
by the Joint Liquidators is to be done by all or any one or more
of the persons for the time being holding office."

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


                            *********


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

Troubled Company Reporter -- Europe is a daily newsletter
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Copyright 2005.  All rights reserved.  ISSN 1529-2754.

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