TCREUR_Public/050808.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Monday, August 8, 2005, Vol. 6, No. 155

                            Headlines

F R A N C E

DELOS SA: Green Recovery Rescues Troubled Railway Builder


G E R M A N Y

AGROTECH GMBH: Creditors' Claims Due Later this Month
BOTTGER GFK: Proofs of Claim Due Next Week
BSL SPEDITION: Creditors Meeting Set September
CAATOOSEE GROUP: Credits Restructuring for Swift Turnaround
CRS CATERING: Under Bankruptcy Administration

DAIMLERCHRYSLER AG: Execs Exercise Stock Options Amid Probe
DER 99 CENT: Court Appoints Dr. Ahrendt Administrator
DIRK ROSGEN: Court to Verify Claims October
EKS-GROUP: Gera Court Calls in Administrator
FMK VERMIETUNGS: Creditors to Meet Next Month

FRITZ NEICHEL: Court to Verify Claims December
INFINEON TECHNOLOGIES: Future of Memory Chips Unit Uncertain
INFINEON TECHNOLOGIES: Realigns R&D Unit
INFINEON TECHNOLOGY: Munich Plant Closure Final
INFRATECH VERTRIEBS: Falls into Bankruptcy

MEDIGENE AG: Doubles First-half Net Loss
SPEZIALITATEN HARTMANN: Looks Sweeter to Rivals than Customers
SPIEL + FREIZEIT: Remaining Stores Sold to Alpina


H U N G A R Y

PANNONPLAST RT: Pulls out of Pannonpipe


I T A L Y

PARMALAT FINANZIARIA: Police Nab Former BofA Exec


N E T H E R L A N D S

ROYAL SHELL: Appoints New Non-executive Chairman
VENDEX KBB: Fitch Affirms 'BB-' Rating
VERSATEL TELECOM: Books Second-quarter Earnings of EUR1.8 Mln


P O L A N D

POLISH OIL: Banks Grant EUR900 Mln Loan as IPO Fizzles out


R O M A N I A

ROMANIAI MAGYAR: Local Daily Runs out of Paper


R U S S I A

KALUZHSKIY MACADAM: Declared Insolvent
KOMI-MAZ-SERVICE: Insolvency Manager Takes over Firm
NIZHNEVARTOVSKIY: Proofs of Claim Deadline Expires Next Month
PRILUZ-WOOD: Bankruptcy Proceedings Begin
ROSLAVL-LES: Undergoes Bankruptcy Supervision Procedure

SEMENOVSKAYA MANUFACTURE: Bankruptcy Hearing Set October
SEROVSKIY: Calls in Insolvency Manager
SMNU OMSK-VODA-AUTOMATICS: Declared Insolvent
SOCHI REPAIR-EXPLOITATION: Succumbs to Bankruptcy
ZHIRNOVSK-MEZH-RAY-GAS: Under Bankruptcy Supervision


S P A I N

RED ELITE: Files for Administration to Prevent Liquidation


S W I T Z E R L A N D

ABB LTD.: To Delist from Frankfurt, London Stock Exchanges


U N I T E D   K I N G D O M

ABBEY SAFETY: In Voluntary Liquidation
ASL TECHNICAL: Creditors to Name Liquidator
BEAULITE LIMITED: Calls in Joint Liquidators
BLD STORES: Hires Administrators from Begbies Traynor
BLUESTREAM UK: Members Decide to Liquidate Firm

C J VANDER: Administrators from PKF Take over Operation
COLERAINE F.C.: Court Adjourns Bankruptcy Hearing
CONTRACT FLOORS.COM: Administrators Enter Firm
CORK INTERNATIONAL: Calls in Joint Liquidators
COROLLA LIMITED: Falls into Liquidation

CORUS GROUP: Names Siemens' Italian Unit as Supplier
CPS CIVIL: Calls in Wilson Field Administrator
CRIMWAY LIMITED: Lighting Maker Hires Administrators
CUZEN & MILNE: Creditors Meeting Set this Week
C & X FASHIONS: Nominates Liquidator

EUJET: Court Appoints Examiner to Save Jobs
EUROPEAN INTERIOR: In Voluntary Liquidation
F B DELL: Calls in Liquidator from Poppleton & Appleby
FLEXIBREAKS LIMITED: Names Antony Batty Liquidator
GAIM UK: Owners Opt for Administration

GULF INTERMODAL: Calls in Administrators from Begbies Traynor
INFO-BUIS SOLUTIONS: Calls in Liquidator
INTERNATIONAL POWER: S&P Revises Outlook to Stable
INTERNATIONAL SILVER: Names PKF Administrator
JARVIS PLC: Has New Chief Operating Officer

JUST CONSTRUCTION: Calls in Liquidator
KLAUSSNER FURNITURE: Furniture Manufacturer Calls Administrator
MADISONS ESTATE: Goes into Liquidation
MDM LINCS: EGM Passes Winding-up Resolutions
MEPC LIMITED: Moody's Downgrades Unsecured Bonds to B2

MERLIN ADHESIVE: Administrators from BWC Business Move in
MG ROVER: Union Angry Over Phoenix Four's 'Lowered' Pledge
MISYS PLC: Inks Partnership with Danish Bank
NETWORK CENTRIC: Calls in Valentine to Liquidate Biz
NORTHSEC GUARDING: High Court Orders Winding-up

NOVUS FOODS: Calls in Administrators from Baker Tilly
OBSERVANT ELECTRONICS: Fanshawe Lofts Administrators Enter Firm
PACKAGING LIMITED: Members Pass Winding-up Resolutions
P & P DESIGNS: Heads into Liquidation
READCO 300: Hires PricewaterhouseCoopers Administrator

RENAISSANCE INTERNATIONAL: Calls in Administrator
ROBERTS & BELK: Appoints Administrators from PKF
S A CORPORATION: Winding up Gets Court Approval
SMART CREATIONS: Members Pass Winding-up Resolution
SOUTHERN CONSTRUCTION: Court Okays Liquidation

SPECIALIST INSTALLATIONS: Liquidation Receives Go Signal
S P ETAIL: Appoints Liquidators from PKF
STORE 4 LIMITED: In Liquidation
SUNHAND LIMITED: Winding-up Gets Green Light
SWINTON TANNING: Calls in Liquidator

THOMAS CORK: Names Begbies Liquidator
TIME-TEES CARS: Liquidators from Tenon Recovery Move in
TITHERINGTONS LIMITED: Appoints Grant Thornton Liquidator
T & L BULK: In Voluntary Liquidation
UNIMET LLC: Gears up for Liquidation
WEST COUNTRY: Calls in Liquidators from Begbies


                            *********


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


DELOS SA: Green Recovery Rescues Troubled Railway Builder
---------------------------------------------------------
Railway subcontractor Delos S.A. has been taken over by Green
Recovery, a restructuring specialist, Les Echos says.

The Valenciennes commercial court approved the sale after Delos'
employee representatives agreed to the takeover.  Green Recovery
has offered to retain 41 of 71 employees.

Delos, which has been undergoing composition proceedings since
April, will be headed by Bernard Grouchko once the takeover is
complete.  He aims to achieve EUR7.2 million in turnover for
2005-2006 and EUR8 million the next year.  Delos posted EUR7.7
million in turnover for the extended year 2004 (15 months) and
has a sizeable backlog of orders.

Founded in 1930, Delos subcontracts for railway tankers material
and specializes in mechanical and welded constructions.  It also
engages in industrial plant equipment construction.

CONTACT:  DELOS S.A.
          129, Route de Lille
          B.P. 138
          59733 Saint Amand Cedex
          Phone: +33 (0) 3 27 48 49 15
          Fax +33 (0) 3 27 48 21 49
          E-mail: contact@delos-fr.com
          Web site: http://www.delos-fr.com


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


AGROTECH GMBH: Creditors' Claims Due Later this Month
-----------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against Agrotech GmbH on July 14.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 22, 2005 to register their claims
with court-appointed provisional administrator Michael Hawelka.

Creditors and other interested parties are encouraged to attend
the meeting on September 22, 2005, 1:30 p.m. at the district
court of Leipzig, Saal 145, 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:  AGROTECH GmbH
          Contact:
          Frank Albrecht, Manager
          Leipziger Str. 53, 04519 Rackwitz

          Michael Hawelka, Administrator
          Nonnenstr. 37, 04229 Leipzig


BOTTGER GFK: Proofs of Claim Due Next Week
------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Bottger GFK-Anlagenbau GmbH on July 14.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until August 12, 2005 to
register their claims with court-appointed provisional
administrator Christoph Henningsmeier.

Creditors and other interested parties are encouraged to attend
the meeting on September 13, 2005, 12:00 noon at the district
court of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083
Hamburg, Saal 1, 2. Ebene (Zi. 2.18), at which time the
administrator will present his first report of the insolvency
proceedings.  The court will also verify the claims set out in
the administrator's report during this meeting, while creditors
may constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  BOTTGER GFK-ANLAGENBAU GmbH
          Schleemer Weg 14, 22117 Hamburg
          Contact:
          Ingrid Bottger, Manager

          Christoph Henningsmeier, Administrator
          Osdorfer Landstrasse 230, 22549 Hamburg
          Phone: 8078810


BSL SPEDITION: Creditors Meeting Set September
----------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against BSL Spedition & Logistik Bielefeld GmbH on July 14.
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 Klaus Knetter.

Creditors and other interested parties are encouraged to attend
the meeting on September 23, 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:  BSL SPEDITION & LOGISTIK BIELEFELD GmbH
          Otto-Brenner-Str. 207 - 209, 33604 Bielefeld
          Contact:
          Franz-Josef Matysiak, Manager
          Wasserfuhr 55, 33619 Bielefeld

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


CAATOOSEE GROUP: Credits Restructuring for Swift Turnaround
-----------------------------------------------------------
In the 2004/2005 financial year just ended, on declining
revenues, caatoosee generated an operating profit and a modest
consolidated profit before taxes.  With the capital measures that
have since been implemented, the turnaround has been successfully
completed, and the Company once again faces a positive future.

For the caatoosee Group the past financial year (April 2004 to
March 2005) was a period of transition following the
implementation of restructuring measures.  The focus was on the
ongoing implementation of measures designed to achieve a
significant improvement in the earnings situation after several
years of large losses.  Within this context caatoosee had to
accept a decline in revenues.  A strategic change involving a
reduction in Software activities and a change in the orientation
of Outsourcing and IT Services has put the Company on a
profitable footing for the future.

With caatoosee Schweiz AG no longer included in the consolidated
group in the financial year, caatoosee's revenues fell by 16
percent to EUR21.6 million [Previous Year (PY) EUR25.8 million].
The operating profit before depreciation and amortization of
intangible and tangible fixed assets (EBITDA) and expenditure
relating to restructuring measures was EUR3.6 million (PY: loss
of EUR3.9 million).

An EBIT of EUR0.7 million also illustrates the turnaround in
earnings compared to the previous year (loss of EUR23.9 million),
where the figure for the 2004/2005 financial year contain
restructuring expenses of EUR1.4 million and ongoing depreciation
and amortization of EUR1.5 million, as well as income arising on
deconsolidation of EUR1.6 million.

Following a financial result of minus EUR0.3 million, which was
impacted by exchange rate losses, the consolidated profit before
taxes was EUR0.3 million (PY: loss of EUR24.6 million).  The
consolidated loss of EUR0.3 million (PY loss of EUR24.8 million)
resulted in a loss per share figure of EUR0.02 (PY: loss of
EUR1.40 per share).

At the end of the reporting year, the Company had total assets of
EUR21.5 million and shareholders' equity of EUR1.2 million.  This
corresponds to an equity ratio of 5 percent, compared to 10
percent the previous year.  As of March 31, 2005, financial
liabilities totaled EUR2.1 million.  The number of people
employed fell from 459 the previous year to 304 as of March 31,
2005.

With the capital measures that have since been implemented,
caatoosee has transformed itself into a provider for IT
Outsourcing and Services and concluded the turnaround.  The core
elements were the contributions in kind of TeraPort GmbH by the
M+W Zander Group and OuterBounds Technologies Inc.  Together with
the cash capital increase of EUR5 million, these measures
significantly reinforced shareholders' equity and the Company's
financial situation.

The Annual General Meeting for the 2004/2005 financial year will
be held on September 6, 2005.

Management Board

CONTACT:  CAATOOSEE AG
          Riedwiesenstrasse 1
          d-71229 Leonberg
          Phone: +49 (0)7152.355.6000
          Fax: +49 (0)7152.355.6650
          E-mail: info@caatoosee.com
          Web site: http://www.caatoosee.com


CRS CATERING: Under Bankruptcy Administration
---------------------------------------------
The district court of Darmstadt opened bankruptcy proceedings
against CRS Catering und Restaurant Service GmbH on July 11.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 18, 2005
to register their claims with court-appointed provisional
administrator Ulrich Hassinger.

Creditors and other interested parties are encouraged to attend
the meeting on September 29, 2005, 9:15 a.m. at the district
court of Darmstadt, Zimmer 108, 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:  CRS CATERING UND RESTAURANT SERVICE GmbH
          Im Duerren Kopf 38, 64347 Griesheim
          Contact:
          Joachim Heinz Gutberlet, Manager
          Jahnstrasse 37, 63814 Mainaschaff

          Ulrich Hassinger, Administrator
          Marktplatz 12, 64283 Darmstadt
          Phone: 06151/81760
          Fax: 06151/851435


DAIMLERCHRYSLER AG: Execs Exercise Stock Options Amid Probe
-----------------------------------------------------------
Analysts are brushing aside rumors of dissent at DaimlerChrysler
AG after several executives took up their stock options.  They
stressed the executives were just taking advantage as shares rose
following the disclosure of Juergen Schrempp's exit, the
Associated Press says.

The company disclosed recently that six executives had exercised
their options to buy shares and then sold about 135,000 shares
between July 29 and August 1.  The company identified them as
Thomas W. Sidlik, who bought 50,000 shares at EUR34.40 each and
sold them at EUR40.52, gaining EUR306,000; and Smart GmbH
president Ulrich Walker, who acquired 20,000 shares at the same
price and sold them for EUR40.04 apiece, earning an extra
EUR112,800.

The other executives were Harald Boelstler, the CEO of Mitsubishi
Fuso Truck & Bus Corp.; Herbert Kauffman and Wolfgang Dietz, of
DaimlerChrysler's commercial vehicles division; and Guenter Egle,
of the Mercedes unit.

DaimlerChrysler refused to comment on the move, nor provided
details regarding the total options held by the executives.
Shares opened around EUR36.50 (US$44.59) on July 28, but started
to rise following reports that Mr. Schrempp was resigning.  They
closed at EUR39.49 after Mr. Schrempp's exit was officially
announced.

Earlier, Berlin-based financial services regulator BaFin launched
an investigation into alleged insider trading at DaimlerChrysler.
The probe centered on deals prior to Mr. Schrempp's departure.
It is not, however, limited to particular people or trades, noted
Sabine Reimer, a spokeswoman for BaFin.  She added they are
looking into all the deals, checking whether the company followed
the guidelines under the stock exchange disclosure requirements,
or ad hoc rules.

The company has appointed Dieter Zetsche, 52, who led the
recovery of the Chrysler division, to replace Mr. Schrempp.  It
has also reportedly started searching for a new chief for its
Mercedes business after Eckhard Cordes offered to resign.  His
decision comes after Mr. Zetsche's appointment as head of
DaimlerChrysler.  For a long time, Mr. Cordes had been viewed as
Mr. Schremmp's successor, but apparently that is not the case
now.  Many are now speculating whether or not Mr. Schremmp's
departure was voluntary.

CONTACT:  DAIMLERCHRYSLER AG
          70546 Stuttgart, Germany
          Phone: +49 711 17 0
          Fax: +49 711 17 22244
          Web site: http://www.daimlerchrysler.com


DER 99 CENT: Court Appoints Dr. Ahrendt Administrator
-----------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Der 99 Cent Markt Handelsgesellschaft mbH on July 11.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 2,
2005 to register their claims with court-appointed provisional
administrator Dr. Achim Ahrendt.

Creditors and other interested parties are encouraged to attend
the meeting on October 10, 2005, 9:30 a.m. at the district court
of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083 Hamburg,
Saal 1, 2. Ebene (Zi. 2.18), at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  DER 99 CENT MARKT HANDELSGESELLSCHAFT mbH
          Bargkoppelweg 3, 22145 Hamburg
          Contact:
          Rolf Wagner, Manager
          Elfenbeinweg 16, 22391 Hamburg

          Dr. Achim Ahrendt, Administrator
          Albert-Einstein-Ring 11/15, 22761 Hamburg
          Phone: 899560
          Fax: 8995610


DIRK ROSGEN: Court to Verify Claims October
-------------------------------------------
The district court of Essen opened bankruptcy proceedings against
Dirk Rosgen GmbH on July 15.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until September 19, 2005 to register their claims
with court-appointed provisional administrator Joseph Albers.

Creditors and other interested parties are encouraged to attend
the meeting on October 10, 2005, 9:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  DIRK ROSGEN GmbH
          Auf dem Schollbruch 32a, 45899 Gelsenkirchen
          Contact:
          Dirk Rosgen, Manager

          Joseph Albers, Administrator
          Von-der-Recke-Str. 5-7, 45879 Gelsenkirchen
          Phone: 0209/179890
          Fax: +492091485096


EKS-GROUP: Gera Court Calls in Administrator
--------------------------------------------
The district court of Gera opened bankruptcy proceedings against
EKS-Group Elektroanlagen Kassentisch Service GmbH on July 12.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 12, 2005
to register their claims with court-appointed provisional
administrator Klaus Siemon.

Creditors and other interested parties are encouraged to attend
the meeting on September 13, 2005, 2:15 p.m. at the district
court of Gera, Rudolf-Diener-Str. 1, Zimmer 301, 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:  EKS-GROUP ELEKTROANLAGEN KASSENTISCH SERVICE GmbH
          Contact:
          Bernd Gunnemann, Manager
          Am Kemnitzgrund 8, 04626 Schmolln

          Klaus Siemon, Administrator
          Str. d. Nationen 51, 09111 Chemnitz


FMK VERMIETUNGS: Creditors to Meet Next Month
---------------------------------------------
The district court of Chemnitz opened bankruptcy proceedings
against FMK Vermietungs- und Immobilien-Service GmbH on July 11.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 17, 2005
to register their claims with court-appointed provisional
administrator Carsten Morgenstern.

Creditors and other interested parties are encouraged to attend
the meeting on September 28, 2005, 9:45 a.m. at the district
court of Chemnitz, Saal 28, im Gerichtsgebaude Fuerstenstrasse
21, in Chemnitz, 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:  FMK VERMIETUNGS- UND IMMOBILIEN-SERVICE GmbH
          Webergasse 3, 09111 Chemnitz
          Contact:
          Heinz Klotzner, Manager
          Gabriele Siebert-Mayer, Manager

          Carsten Morgenstern, Administrator
          Michaelstr. 71, 09116 Chemnitz


FRITZ NEICHEL: Court to Verify Claims December
----------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Fritz Neichel GmbH on July 13.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until October 12, 2005 to
register their claims with court-appointed provisional
administrator Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting on August 30, 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 December 6,
2005, 9:25 a.m. at the same venue.

CONTACT:  FRITZ NEICHEL GmbH
          Zwinglistrasse 38, 10555 Berlin

          Dr. Dirk Wittkowski, Administrator
          Kirchblick 11, 14129 Berlin


INFINEON TECHNOLOGIES: Future of Memory Chips Unit Uncertain
------------------------------------------------------------
Troubled chipmaker Infineon Technologies is looking for ways to
boost its loss-making memory chips business following the
resignation of its division head, Suddeutsche Zeitung says.

Currently in need of financing, the resignation of Andreas von
Zitzewitz has rendered a flotation impossible.  Thus, Infineon is
left with no other choice but to hold exploratory talks with
possible investors, sources close to the group's supervisory
board told the paper.  They say Infineon is mulling putting the
division into a joint venture with Taiwanese group Nanya.  The
two already co-own memory chips maker Inotera in Taiwan.  An
Infineon spokesman, however, refused to comment on the matter,
dismissing them as speculations.

Influential personalities within Infineon favor either flotation,
sale or partnership.  Staff representatives sitting on the
supervisory board don't want to see Infineon split into several
units.

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

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

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

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

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

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


INFINEON TECHNOLOGIES: Realigns R&D Unit
----------------------------------------
Loss-making chipmaker Infineon Technologies is reorganizing its
research and development activities, Borsen Zeitung says.

According to the daily, the semiconductor group will integrate
the currently independent unit into its operating divisions --
Automotive, Industrial and Multimarket, Communications and Memory
Products.

Infineon is currently hounded by a bribery scandal that threatens
to stymie its recovery.  The group has already sold several
businesses to refocus on core activities.

Founded in 1999, Infineon employs around 36,000 employees
worldwide, 7,200 of whom are involved in research and
development.  In fiscal year 2004, the group achieved EUR7.19
billion in sales and EUR61 million in consolidated surplus. It
operates through subsidiaries in San Jose, California in the
U.S.; Singapore, and Tokyo in Japan.  Infineon is listed on the
DAX 30 index of the Frankfurt Stock Exchange and on the New York
Stock Exchange (IFX).

CONTACT:  INFINEON TECHNOLOGIES AG
          P.O.  Box 80 09 49
          D-81609 Muenchen
          Phone: +49-89-234-0
          Fax: +49-89-234-2-84-82
          Web site: http://www.infineon.com

          Gunter Gaugler
          Media Relations Contact
          Phone: +49-89-234-28481
          Fax: +49-89-234-28482
          E-mail: guenter.gaugler@infineon.com

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

          Kaye Lim, Asia
          Phone: +65-6876 -3070
          Fax: +65-6876-3074
          E-mail: kaye.lim@infineon.com

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

          Investors Relations, Europe
          Phone: +49-89-234 26655
          Phone: investor.relations@infineon.com

          Investors Relations, North America
          Phone: +-1-408 501 6800
          E-mail: investor.relations@infineon.com


INFINEON TECHNOLOGY: Munich Plant Closure Final
-----------------------------------------------
Infineon remains firm in shutting down its Munich site, Heise
Online says.

The management board told employees Friday the decision to close
the Munich Perlach plant is final.  Unions expressed readiness to
fight the closure with "all means at its disposal," according to
Werner Neugebauer, head of the Bavarian unit of IG Metall. "We
shall do everything to save the jobs at the Perlach plant.  The
gentlemen of Infineon's board of management had thus better
prepare for stormy days ahead."

Back in February, Infineon announced it would phase out the site
in 2007, citing unsuitability of the plant to its manufacturing
needs, adding site production capacity was not feasible from an
economic and technological standpoint.  Munich Perlach only uses
150 mm silicon wafers technology, which no longer corresponds to
technical or economic standards.  Infineon said that, as the
manufacturing standard for logic products corresponds to 200 mm
wafer, the cost disadvantage of manufacturing 150 mm is
considerable and will continue to increase.  Infineon plans to
transfer most of the production to Regensburg and the rest to
Villach.  The group currently employs around 800 at these sites.

Infineon is currently hounded by a bribery scandal involving the
former head of its memory chips division.  Founded in 1999,
Infineon Technologies employs around 36,000 employees worldwide,
7,200 of whom are involved in research and development.  In
fiscal year 2004, the group achieved EUR7.19 billion in sales and
EUR61 million in consolidated surplus.

CONTACT:  INFINEON TECHNOLOGIES AG
          P.O.  Box 80 09 49
          D-81609 Muenchen
          Phone: +49-89-234-0
          Fax: +49-89-234-2-84-82
          Web site: http://www.infineon.com

          Gunter Gaugler
          Media Relations Contact
          Phone: +49-89-234-28481
          Fax: +49-89-234-28482
          E-mail: guenter.gaugler@infineon.com

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

          Kaye Lim, Asia
          Phone: +65-6876 -3070
          Fax: +65-6876-3074
          E-mail: kaye.lim@infineon.com

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

          Investors Relations, Europe
          Phone: +49-89-234 26655
          Phone: investor.relations@infineon.com

          Investors Relations, North America
          Phone: +-1-408 501 6800
          E-mail: investor.relations@infineon.com


INFRATECH VERTRIEBS: Falls into Bankruptcy
------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against INFRATECH Vertriebs GmbH on July 11.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors had until August 5, 2005 to register their
claims with court-appointed provisional administrator Kerstin
Gruettner.

Creditors and other interested parties are encouraged to attend
the meeting on September 2, 2005, 9:00 a.m. at the district court
of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083 Hamburg,
Saal 1, 2. Ebene (Zi. 2.18), at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  INFRATECH VERTRIEBS GmbH i.L.
          Wedeler Landstrasse 93, 22559 Hamburg
          Contact:
          Karl-Heinz Stryi, Manager
          Rissener Dorfstrasse 37, 22559 Hamburg

          Kerstin Gruettner, Administrator


MEDIGENE AG: Doubles First-half Net Loss
----------------------------------------
The German-American biotech company MediGene AG (Frankfurt, Prime
Standard: MDG) presents results for the first six months of 2005
that conform to the company's expectations, and confirms its
forecast for the financial year.

Total revenues in the first six months of the year amounted to
EUR4,942,000 (H1-2004: EUR8,830,000), and to EUR1,118,000 in the
second quarter of 2005 (Q2-2004: EUR4,920,000).  These revenues
were generated almost solely by the commercialization of the
first drug, and are made up of proceeds from product sales,
license fees and milestone payments received from MediGene's
marketing partner Astellas Pharma Europe Ltd.  The increased
revenues in the second quarter and in the first six months of
2004 resulted from advance and milestone payments due upon
conclusion of the marketing partnership for the first drug.

Consequently, the gross profit decreased to EUR3,666,000 in the
first six months of the year, and to EUR214,000 in the second
quarter.  Gross profit margin is determined by milestone payments
and the ratio of revenues from product sales to license payments,
and is therefore subject to substantial fluctuations comparing
individual reporting periods.

The increase of general, administrative, and selling expenses to
EUR3,048,000 (H1-2004: EUR2,879,000), and to EUR1,634,000
(Q2-2004: EUR1,481,000), respectively, is mainly due to the
first-time adoption of IFRS, according to which stock options
issued to employees are now recognized as expenses of EUR171,000
in the first six months of 2005.  Total R&D expenses increased to
EUR7,558,000 (H1-2004: EUR6,820,000), and to EUR4,260,000
(Q2-2004: EUR3,025,000), respectively.  This increase was mainly
due to the EndoTAG program acquired in August 2004.

Compared to last year's reporting periods, the net loss increased
to -EUR6,326,000 (H1-2004: -EUR4,195,000), and to -EUR5,378,000
(Q2-2004: -EUR2,692,000), respectively, since last year the
company received higher milestone payments.

Outlook: MediGene confirms the forecast for the year 2005,
according to which the company expects to raise revenues to
approximately EUR20 million, and to reduce the loss below EUR10
million.   Major milestones to be reached are the NDA submission
for the Polyphenon E Ointment against genital warts to the U.S.
regulatory authority, the conclusion of a marketing partnership
for the Polyphenon E Ointment, the initiation of a clinical phase
II trial of the drug candidate EndoTAG-1, as well as the launch
of the first drug in other European countries.

Alexander Dexne, MediGene's Chief Financial Officer, comments:
"In the second half of 2005 we expect a significant increase in
revenues and a considerable improvement of our financial result.
The launch of our first drug in other European countries and the
conclusion of a marketing partnership for our Polyphenon E
Ointment will form the basis for this improvement.  Although the
results obtained in the trial in the indication actinic keratosis
did not meet our expectations, we assume that the NDA for our
Polyphenon E Ointment will be submitted to the U.S. regulatory
authority as scheduled, and that we will conclude a marketing
partnership for this product."

CONTACT:  MEDIGENE AG
          Lochhamer Str. 11
          82152 Martinsried
          Phone: ++49-89-85 65-29 00
          Fax: ++49-89-85 65-29 20
          Web site: http://www.medigene.com


SPEZIALITATEN HARTMANN: Looks Sweeter to Rivals than Customers
--------------------------------------------------------------
Potential investors are now salivating on confectionery maker
Spezialitaten Hartmann, local daily Die Welt says.

The company, which declared insolvency at the end of July, has
attracted Zentis, Dr. Quendt and Halloren.  Frontrunner Zentis is
reportedly eyeing the 'Nudossi' brand, which will cement its
leading position on the market for nut nougat products.

Dr. Quendt, eastern Germany's largest baked goods producer, is
also after 'Nudossi', but, more than anything, it wants Hartmann
to remain in eastern Germany.  The bidder refused to say what
phase of the talks they are in now.

CONTACT:  SACHSISCHE SPEZIALITATEN HARTMANN KARL-HEINZ UND
          THOMAS HARTMANN GBR
          Fabrikstrasse 4, 01445 Radebeul
          Phone: +49 351 837520
          Fax: +49 351 8375225
          E-mail: spezialitaeten.hartmann@t-online.de
          Web site: http://www.vadossi.de

          FRANZ ZENTIS GmbH & CO. KG
          Julicher Strasse 177
          D - 52070 Aachen
          Phone: +49 (0) 241/4760-0
          Fax +49 (0) 241/4760-369
          Web site: http://www.zentis.com

          DR. QUENDT BACKWAREN GmbH
          Offenburger Str. 1
          D-01189 Dresden
          Phone: +49 - (0)351 - 43616 - 0
          Fax: +49 - (0)351 - 43616 - 17
          Web site: http://www.dr-quendt.de

          HALLOREN SCHOKOLADENFABRIK GmbH
          Delitzscher Strasse 70
          06112 Halle
          Phone: 0345/5642-0
          Fax: 0345/5642-250
          Web site: http://www.halloren.de


SPIEL + FREIZEIT: Remaining Stores Sold to Alpina
-------------------------------------------------
The parent of loss making toy retailer Spiel + Freizeit
Handelsbetriebe has reached a deal with investment firm Alpina
Beteiligungsgesellschaft, Suddeutsche Zeitung says.

Inked on July 29, the deal transfers Vedes AG's ownership of
Spiel's remaining stores to Alpina for an undisclosed price.
Less than a month prior to this sale, Vedes also sold Spiel's
stores in Stuttgart, Munich and Leonberg to Mercari on July 1,
2005.

Vedes says the sale presents the best chance to keep jobs and
maintain Spiel's turnover.  Spiel currently operates 16 shops
across the country.  Vedes plans to concentrate on toy
wholesaling from here on.

CONTACT:  SPIEL + FREIZEIT HANDELSBETRIEBE GMBH
          Concordiastrasse 32
          46049 Oberhausen
          Phone: 0208-803534

          VEDES AG
          Beuthener Strasse 43
          D - 90471 Nuernberg
          Phone: +49 911 6556 0
          Fax: +49 911 6556 251
          E-mail: info@vedes.com
          Web site: http://www.vedes-ag.com


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


PANNONPLAST RT: Pulls out of Pannonpipe
---------------------------------------
Loss-making plastic manufacturer Pannonplast Rt has sold its 50%
stake in subsidiary Pannonpipe Kft to co-owner Pipelife
International GmbH, Budapest Business Journal says.

In a stock exchange statement Thursday, Pannonplast said the sale
would allow it to focus on its consumer packaging business and
slash its debt by HUF2.8 billion.  Pannonplast and Pipelife have
jointly owned Pannonpipe since 1990, splitting their stakes
equally.  Pannonpipe manufactures pipes for plumbing and
construction works.

Pannonplast Rt. reported its third straight losses in 2004 due to
dropping demand for its products in the sluggish western European
market.  Although 2004 revenues amounted to HUF26.5 billion, the
company still booked losses of HUF1.8 billion.

The company manufactures a wide range of plastic finished
products, including sewage and hot/cold water pressure pipes and
fittings, mid-voltage insulators, plastic technical components
and other products for industries and households.

CONTACT:  PANNONPLAST MUANYAGIPARI RT.
          Nagytetenyi ut 216-218
          1225 Budapest,
          Phone: +36 1 207 1936
          Fax: +36 1 207 1525
          Web site: http://www.pannonplast.hu

          PANNONPIPE MUANYAGIPARI KFT.
          H-1751 Budapest
          P.O.B. 117
          Phone: (36-52)-521-845
          Fax: (36-52)-510-396
          Web site: http://www.pannonpipe.hu


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


PARMALAT FINANZIARIA: Police Nab Former BofA Exec
-------------------------------------------------
Local police arrested last week a former Bank of America (BofA)
manager who allegedly abetted Parmalat Finanziaria's fraudulent
bond issuance, La Stampa says.

Police arrested Luca Sala at his wife's villa in Forte dei Marmi,
a resort on Italy's west coast.  Mr. Sala acted as consultant to
Parmalat in his capacity as corporate banking head of BofA's
Italian unit.  He allegedly hid the true state of Parmalat's
finances in organizing private placement of bonds with
institutional investors, mostly from the U.S.  He also allegedly
tried to hide the losses of the Brazilian unit and gained tens of
thousands of dollars for it.  He allegedly deposited the money in
Switzerland.

The Parma prosecutor's office placed Mr. Sala on the wanted list
in March after Guardia di Finanza, the local tax and finance
police, discovered EUR4 million in cash and shares deposited in
current accounts in three different trust companies in Turin.  A
source said the court ordered his arrest to prevent him from
tampering with evidence.

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

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


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


ROYAL SHELL: Appoints New Non-executive Chairman
------------------------------------------------
The Board of Directors of Royal Dutch Shell plc has appointed
Jorma Ollila, currently Chairman and CEO of Nokia, to succeed Aad
Jacobs as the company's Non-executive Chairman.  The appointment
will be effective from June 1, 2006.

Mr. Ollila joined Nokia in 1985 and took the helm in 1992.  As
Nokia CEO he presented an ambitious strategy that successfully
restructured the former industrial conglomerate and, along with
his team, accelerated its growth into one of the most successful
companies in both the mobile phone and telecommunications
infrastructure markets.  Mr. Ollila will step down as CEO at
Nokia on June 1, 2006.

Jorma Ollila's initial career prior to Nokia was in banking at
Citibank in London and Helsinki.  He also has extensive
experience as a non-executive director, including currently with
the Ford Motor Company.

Lord Kerr of Kinlochard, Shell Deputy Chairman and Senior
Independent Director who led the Search Committee, said: "We were
looking world-wide for a Chairman with international standing, a
global outlook, and proven success in managing a complex
organization.  In Jorma Ollila we found all these qualities, and
more."

Jeroen van der Veer, Shell Chief Executive said: "Jorma Ollila
will be an excellent Chairman.  He comes to us with a wealth of
valuable experience and an excellent record of success.  We are
sure that we have found the best person for the job."

Mr. Ollila said: "I look forward to working closely with Jeroen
van der Veer and the Royal Dutch Shell Board.  This is a
wonderful opportunity with a great global company at a pivotal
time for the energy industry.  I look forward to being part of
the team in The Hague."

                            *   *   *

Royal Dutch Shell plc is incorporated in England and Wales, has
its headquarters in The Hague and is listed on the London,
Amsterdam, and New York stock exchanges.  Shell companies have
operations in more than 145 countries with businesses including
oil and gas exploration and production; production and marketing
of Liquefied Natural Gas and Gas to Liquids; manufacturing,
marketing and shipping of oil products and chemicals and
renewable energy projects including wind and solar power.

Some investors blamed the complicated system for the
overestimation of proved energy reserves by the company between
January 2004 and February this year.  The crisis resulted to the
ouster of three top executives, including former chairman Philip
Watts.

Shell had admitted it overstated its proved reserves by
almost 6.0 billion barrels.  It was finned EUR150 million in
total after investigations launched by U.S. and British
regulators.  Shell has said it had revised the method by which
it calculates reserves to comply with U.S. regulations.  Shell's
proved reserves stood at 10.2 billion barrels at the end of
2004.

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


VENDEX KBB: Fitch Affirms 'BB-' Rating
--------------------------------------
Fitch Ratings has affirmed the Senior Unsecured rating of Vendex
KBB, previously Koninklijke Vendex KBB, at 'BB-' (BB minus) with
a Stable Outlook, following the release of its full FY05 (ended
January 2005) and Q106 results.  At the same time a Short-term
rating of 'B' has been assigned.  Fitch has also affirmed
Vendex's senior secured debt at 'BB' and Victoria Acquisition III
B.V's EUR275 million 7.875% senior subordinated notes due 2014 at
'B'.

As expected at the time of the leveraged-buy-out, Koninklijke
Vendex KBB B.V. merged with VDXK Acquisition B.V. on 14 of July
2005, with Vendex KBB being the surviving entity.

Pablo Mazzini, Associate Director in Fitch's Leveraged Finance
team, said: "Despite tough trading conditions in its core Dutch
market, Vendex's operating performance has been resilient and
leverage has reduced slightly, mainly reflecting the strong cash
flow generation since the LBO."

In FY05, Vendex achieved an adjusted retail EBITDA from continued
activities of EUR264 million (6.5% margin), compared to EUR249
million (6.0% margin) in FY04.  This was mainly driven by its
Belgian Do-It-Yourself operations and better profitability in the
general merchandise retailer HEMA, which continues to enjoy high
brand awareness among consumers.

In Q106, the EBITDA margin remained fairly stable.  However, the
growth of like-for-like profits at department store Vroom &
Dreesmann was worse than expected despite the closure of loss
making stores and their related cost savings.  Although V&D
accounts for a small portion of Vendex's consolidated sales (17%
in the last 12 months to April 2005), it continues to be an area
of concern for the agency, as it remained loss making in Q106.
The agency will monitor closely the progress made on its
restructuring plan as well as further related cash outlays.  The
possibility of V&D widening its operating losses in FY06 will
likely be treated as a negative rating factor.

Consumer confidence and retail spending remain subdued in the
Benelux market, with no signs of abating in the short term, while
highly indebted Dutch consumers appear to be increasingly price
conscious.  GDP in Q105 fell 0.5%, its fastest decline since
Q203, after growing 1.4% in 2004.  The current prevailing
negative retail environment, together with increasing competitive
pressures, could potentially negate any progress made on internal
reorganization or cost-cutting initiatives. However, Fitch notes
that Vendex improved its EBITDAR margin in FY05 to 13.1% (FY04:
12.4%).  The arrival of Tony De Nunzio as the new CEO may
accelerate the streamlining of the operations although, in the
current environment, such an effort translates into heightened
uncertainty and greater execution risk.

Net cash flows improved substantially, reflecting the focus put
by the sponsor on cash flow management, and therefore working
capital declined to 5.2% of sales in Q106 from 6.5% in Q405.  The
scope to further streamline working capital requirements,
especially in the core DIY segment, together with increased
product sourcing from the Far East and flexibility in capital
spending, provides some comfort in the short to medium term.  In
the seasonally low Q106, Vendex generated net free cash flow of
EUR37 million, compared to a negative of EUR23 million in Q105.

Capital spending is expected to remain at around 3.5% of sales in
FY06, the same level as in FY05 but below historical average
(4.5% of sales between FY02 and FY04), largely driven by the
reduction in spending at V&D.

The current ratings are supported by substantial cash on-balance
sheet in the retail business (the "restricted group" under the
LBO structure) of EUR248 million as of April 2005 and EUR265
million available under the revolving credit facility.  Although
the (71) properties owned by Vendex are ring-fenced in a
leveraged property company vehicle, this offers additional
financial flexibility relative to a traditional retailer with no
recourse to tangible assets.

CONTACT:  FITCH RATINGS
          Pablo Mazzini, London
          Phone: +44 (0)20 7417 3540
          Jonathan Pitkanen
          Phone: +44 (0) 207417 4201
          Web site: http://www.fitchratings.com

          Media Relations
          Jon Laycock, London
          Phone: +44 20 7417 4327


VERSATEL TELECOM: Books Second-quarter Earnings of EUR1.8 Mln
-------------------------------------------------------------
Versatel Telecom International N.V. has reported second quarter
2005 financial and operating results.

For the quarter ended June 30, 2005 revenues were EUR191.0
million, up 33% from 2Q04 revenues of EUR144.0 million and up 8%
compared with 1Q05 revenues of EUR177.5 million.  The sequential
revenue increase was driven by all three countries and across all
of the businesses.  In the residential segment, the biggest
increase was due to the addition of new DSL customers, as
Versatel increased the total number of DSL customers to
approximately 400,000.

In the business segment, the revenue increase was mainly due to
upgrades of service to existing corporate customers, new
customers as well as a seasonal increase in on-net traffic.
In total, on-net revenues for Versatel were EUR146.9 million in
2Q05 compared with EUR108.9 million in the same quarter of 2004
and EUR133.3 million in the previous quarter, an increase of 35%
and 10%, respectively.

Versatel's gross margin as a percentage of revenue in 2Q05 was
55.9% compared with 52.7% in 2Q04 and 55.6% in 1Q05.  The net
growth of the gross margin as a percentage of revenue was
positively affected in Germany by lower network costs due to a
price reduction of copper line rental as well as increased on net
traffic, but negatively affected in The Netherlands by a further
churn of dial-up internet revenues and an increase in fixed
network costs as it upgraded capacity on its MDF back-haul for
triple play services.

Raj Raithatha, Chief Executive Officer, said: "Given the
significant resources that Versatel is devoting to the roll-out
of triple play services in The Netherlands, I am pleased that we
were able to continue to grow our revenues in all of our markets.

"Although this is positively impacted by seasonality in the
second quarter, with high traffic on our network compared to the
first quarter, we also managed to increase the number of
customers in our business segment in all three countries.  With
regards to DSL connections, although we have seen a slow down in
net additions in The Netherlands given the back-log of ADSL 2+
customers yet to be connected, we have seen good results in
Germany and steady growth in Belgium."

Selling, general and administrative expenses for the second
quarter 2005 were EUR66.6 million compared with 2Q04 SG&A
expenses of EUR48.6 million and 1Q05 of EUR60.6 million.  The
increase in SG&A during the second quarter is primarily due to an
increase in marketing expenses and headcount related to triple
play in The Netherlands as well as an increase of sales related
costs in Germany.

Versatel's marketing expenditures for 2Q05 were EUR8.7 million
compared with EUR3.6 million and EUR6.3 million in 2Q04 and 1Q05
respectively.  The increase is due to the extensive marketing
campaign supporting the launch of the football product in The
Netherlands last April, as well as increased marketing expenses
in Germany.

For the second quarter 2005, Versatel's result before interest,
tax, depreciation and amortization (EBITDA) was EUR40.3 million
compared with EUR27.3 million for the corresponding quarter in
2004 and EUR38.2 million in the previous quarter.  The sequential
rise in EBITDA in Germany and Belgium offsets the decrease in The
Netherlands, which resulted from increased SG&A expenses for
triple play in the Netherlands.

Given the significant additional investments that will be made in
the second half of the year for triple play in The Netherlands
and for the broadcasting of live Eredivise football, the company
expects that EBITDA levels will decline sequentially over the
rest of the year.

Mark Lazar, Chief Financial Officer, said: "Despite substantially
higher marketing expenses we showed solid growth in our EBITDA
for the group, which clearly indicates the health of our
underlying business.

"As mentioned earlier this year, due to the introduction of ADSL
2+ services in The Netherlands and a growing business for the
whole group, we will incur additional costs in the second half of
the year, which will negatively affect our results for the
remainder of 2005."

Versatel's net result for 2Q05 amounted to a profit of EUR1.8
million compared with net losses of EUR4.0 million in 2Q04 and
EUR2.5 million in 1Q05.  Included in this net profit, is a gain
of EUR0.4 million related to non-cash gains on its U.S. dollar
denominated cash holdings given the strengthening of the U.S.
dollar versus the Euro during the quarter.

It also experienced an income tax credit of EUR1.4 million, which
was attributable to losses at its Dutch operations that partially
offset an existing deferred tax liability in The Netherlands.
Although this net profit for the quarter is a testament to the
underlying health of its historical business, Versatel will incur
significant additional costs starting in the third quarter
related to its triple play efforts in The Netherlands and the
broadcast of live Eredivisie football, which will bring it back
into a loss making position.

For the second quarter of 2005, Versatel's capital expenditures
were EUR66.9 million compared with capex of EUR25.3 million and
EUR61.7 million for 2Q04 and 1Q05, respectively.  Approximately
EUR19.8 million of the capex in 2Q05 is directly related to the
roll out of the triple play product in The Netherlands.

From the total capex budget of EUR170 million for triple play
services, approximately EUR45.8 million has been spent in the
first half of 2005.  Therefore capex levels will increase over
the course of this year, as was announced in March 2005.
Free Cash Flow in 2Q05 was negative EUR26.6 million, a decrease
compared to 2Q04 with positive EUR1.9 million and 1Q05 with
negative EUR23.5 million.  The negative FCF is directly
attributed to higher capex in the second quarter, as was
incorporated in the 2005 financial guidance.  In addition, given
the accelerated investments for triple play in The Netherlands
that will continue in the second half of the year, Versatel
expects FCF to remain significantly negative in 2005.

As of June 30, 2005, Versatel had EUR252.8 million in cash on its
balance sheet compared with EUR143.7 million at the end of the
second quarter of 2004 and EUR259.6 million at the end of the
previous quarter.

Versatel's cash balance will substantially decrease over the next
two quarters as EBITDA levels decline and the capital investments
become operational and invoices are received.  The company had a
positive shareholders' equity position of EUR572.5 million as of
June 30, 2005 compared with EUR570.3 million at the end of the
first quarter of 2005.

As of 4Q03, Versatel has a deferred tax liability on its balance
sheet in respect of the gain related to the completion of its
2002 financial restructuring, whereby any subsequent losses in
The Netherlands are recognized and taken against this deferred
tax liability.  This deferred tax liability includes a tax effect
on the convertible bond of approximately EUR8 million.

At June 30, 2005, Versatel's deferred tax liability totaled
EUR114.3 million.  As announced in December 2004 and during the
2004 results, it continues to believe that its organic business
plan, including the roll out of triple play services in The
Netherlands, is fully funded without a need for third party
financing.

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

CONTACT:  VERSATEL TELECOM INTERNATIONAL N.V.
          Wouter van de Putte, Head of Investor Relations
          Phone: +31-20-750-2362
          E-mail: wouter.vandeputte@versatel.com
          Web site: http://www.versatel.com

          Cilesta van Doorn
          Manager Corporate Communications
          Phone: +31-20-750-1318
          E-mail: cilesta.vandoorn@versatel.com


===========
P O L A N D
===========


POLISH OIL: Banks Grant EUR900 Mln Loan as IPO Fizzles out
----------------------------------------------------------
A consortium of banks has awarded Polish Oil and Gas Company
(PGNiG) a EUR900-million loan deal to restructure its debt and
fund investments, said Interfax.

According to PGNiG CEO Marek Kossowski, the loan involves a
5-year EUR600-million tranche and a 3-year EUR300-million
tranche, which will be used to pay an old loan due December, and
refinance other debt, respectively.

The loan is said to be enough to support some of PGNiG's PLN8.2
billion investment strategy.  The 4-year plan will see
improvements in its natural gas drilling facilities and
gas-transmission infrastructure as well as finance ventures to
diversify gas supplies.

Alicja Woloszyn, of Citibank Handlowy, said: "This is one of the
largest consortium loans in Poland."

Citibank and Societe Generale headed the banking consortium,
which also includes Pekao S.A., Fortis Bank, PKO BP and Caylon
S.A.

The company is expected to bring in about PLN1.5 billion of extra
funding through an initial public offering, which was originally
set for early July 2005.  The IPO is now being considered for
September.  A further delay could mean an 85% reduction in the
company's planned PLN2-billion investment this year.

Mr. Kossowski said: "In order to carry out these investments we
need funds from the IPO, otherwise we will have to revise these
plans in all the areas we wanted to develop."

PGNiG is a stock company owned by the State Treasury.  With an
initial capital of PLN5 billion, it operates in the whole country
and outside Poland through a network of specialized divisions and
companies.

In October 2004, the Government adopted the new program of
restructuring and privatization of PGNiG, which will see the
transfer of its transmission company, operating since July 1,
2004, to the State Treasury.  The Government will also maintain
control of PGNiG by keeping a minimum 51% majority shareholding
in the company.

The amendments will also enable to postpone the spin-off of the
exploration-production company from PGNiG's structure.   The
company is to be separated, once PGNiG joins the stock market and
the latter's debt is cleared.

CONTACT:  POLISH OIL AND GAS COMPANY
          Krucza 6/14
          00-537 Warszawa
          Phone: +48 22 583 50 00
          Fax: +48 22 691 82 73
          E-mail: pr@pgnig.pl
          Web site: http://www.pgnig.pl


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


ROMANIAI MAGYAR: Local Daily Runs out of Paper
----------------------------------------------
Newspaper Romaniai Magyar Szo folded up on July 30 due to a huge
debt and low readership, Hungarian Duna TV reported last week.

Editor-in-chief Janos Gyarmat said the decision to halt
publication was made by the group behind publisher Transyl Ltd.,
not the editorial staff.  He also put the blame on the Hungarian
Democratic Union of Romania, the ruling party, which accordingly
is the reason why the government has ceased to advertise with the
paper.

The Hungarian paper, which is edited in Bucharest, has been
suffering from low readership because of its poor quality.
According to the report, the paper is notorious for publishing
stories that are two to three days old.  In addition, it uses
MTI, the not-so-reliable national news agency of Hungary, as
source.

Jozsef Birtalan, Transyl's majority shareholder, denied Mr.
Gyarmat's allegations, adding the group he referred to does not
exist.  The paper would have celebrated its 58th anniversary on
September 1, the report said.

CONTACT:  ROMANIAI MAGYAR SZO
          79776 Bucuresti 33,
          Piata Presei Libere 1.
          E-mail: rmsz@com.pcnet.ro
          Web site: http://www.hhrf.org/rmsz


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


KALUZHSKIY MACADAM: Declared Insolvent
--------------------------------------
The Arbitration Court of Kaluga region commenced bankruptcy
proceedings against Kaluzhskiy Macadam (TIN 4004002084, KPP
400401001) after finding the factory insolvent.  The case is
docketed as A23-1610/04B-10-65.  Mr. I. Khomyakov has been
appointed insolvency manager.

Creditors have until Sept. 16, 2005 to submit their proofs of
claim to:

(a) KALUZHSKIY MACADAM FACTORY
    249856, Russia, Kaluga region,
    Tovarkovo, Tsentralnaya Str. 74

(b) Mr. I. Khomyakov
    Insolvency Manager
    248000, Russia, Kaluga region,
    Post User Box 2


KOMI-MAZ-SERVICE: Insolvency Manager Takes over Firm
----------------------------------------------------
The Arbitration Court of Komi republic has commenced bankruptcy
supervision procedure on limited liability company
Komi-Maz-Service.  The case is docketed as A29-2450/05-3B.  Mr.
A. Belyaev has been appointed temporary insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 167004, Russia, Komi republic, Syktyvkar, Post User Box
2423.  A hearing will take place on Sept. 6, 2005.

CONTACT:  KOMI-MAZ-SERVICE
          167000, Russia, Komi republic,
          Syktyvkar, Garazhnaya Str. 1

          Mr. A. Belyaev
          Insolvency Manager
          167004, Russia, Komi republic,
          Syktyvkar, Post User Box 2423
          Phone/Fax: (8212) 44-50-24


NIZHNEVARTOVSKIY: Proofs of Claim Deadline Expires Next Month
-------------------------------------------------------------
The Arbitration Court of Khanty Masiyskiy autonomous region
commenced bankruptcy proceedings against Nizhnevartovskiy after
finding the seaport operator insolvent.  The case is docketed as
A75-4403/2005.  Mr. A. Kiselev has been appointed insolvency
manager.

Creditors have until Sept. 16, 2005 to submit their proofs of
claim to:

(a) NIZHNEVARTOVSKIY
    Russia, Tyumen region,
    Nizhnevartovsk, 60 Let Oktyabrya Str. 1

(b) Mr. A. Kiselev
    Insolvency Manager
    628400, Russia, Tyumen region,
    Surgut, Bezverkhova Str. 5


PRILUZ-WOOD: Bankruptcy Proceedings Begin
-----------------------------------------
The Arbitration Court of Komi republic commenced bankruptcy
proceedings against Priluz-Wood (TIN 1112902224) after finding
the limited liability company insolvent.  The case is docketed as
A29-7880/03-3B.  Mr. A. Belyaev has been appointed insolvency
manager.

Creditors have until Sept. 16, 2005 to submit their proofs of
claim to 167004, Russia, Komi republic, Syktyvkar, Post User Box
2423.  A hearing will take place on Sept. 6, 2005.

CONTACT:  PRILUZ-WOOD
          168130, Russia, Komi republic, Priluzskiy region,
          Obyachevo, Tsentralnaya Str. 4

          Mr. A. Belyaev
          Insolvency Manager
          167004, Russia, Komi republic,
          Syktyvkar, Post User Box 2423
          Phone/Fax: (8212) 44-50-24


ROSLAVL-LES: Undergoes Bankruptcy Supervision Procedure
-------------------------------------------------------
The Arbitration Court of Smolensk region has commenced bankruptcy
supervision procedure on limited liability company Roslavl-Les.
The case is docketed as A-62-1694/2005 (638-N/05).  Mr. Z.
Danilova has been appointed temporary insolvency manager.
Creditors may send their proofs of claim to 142280, Russia,
Moscow region, Protvino, Lenina Str. 13A-48A.

CONTACT:  ROSLAVL-LES
          Russia, Smolensk region, Roslavlskiy region,
          Malye Kirilly, Golovleva Str. 112

          Mr. Z. Danilova
          Temporary Insolvency Manager
          142280, Russia, Moscow region,
          Protvino, Lenina Str. 13A-48A
          Phone: 8-926-288-0795


SEMENOVSKAYA MANUFACTURE: Bankruptcy Hearing Set October
--------------------------------------------------------
The Arbitration Court of Moscow has commenced bankruptcy
supervision procedure on open joint stock company Semenovskaya
Manufacture.  The case is docketed as A40-25577/05-86-45B.  Mr.
G. Udelnov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 171510, Russia,
Tver region, Kimry, Shevchenko Str. 16A.  A hearing will take
place on Oct. 20, 2005.

CONTACT:  SEMENOVSKAYA MANUFACTURE
          105318, Russia, Moscow region,
          Tkatskaya Str. 5

          Mr. G. Udelnov
          Temporary Insolvency Manager
          171510, Russia, Tver region,
          Kimry, Shevchenko Str. 16A


SEROVSKIY: Calls in Insolvency Manager
--------------------------------------
The Arbitration Court of Sverdlovsk region has commenced
bankruptcy supervision procedure on open joint stock company
Serovskiy.  The case is docketed as A60-14320/2005-S11.  Mr. P.
Lazarev has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 620000, Russia,
Ekaterinburg, Main Post Office, Post User Box 106.

CONTACT:  SEROVSKIY
          624992, Russia, Sverdlovsk region,
          Serov, Kuzmina Str. 92

          Mr. P. Lazarev
          Temporary Insolvency Manager
          620000, Russia, Ekaterinburg,
          Main Post Office, Post User Box 106


SMNU OMSK-VODA-AUTOMATICS: Declared Insolvent
---------------------------------------------
The Arbitration Court of Omsk region commenced bankruptcy
proceedings against SMNU Omsk-Voda-Automatics after finding the
close joint stock company insolvent.  The case is docketed as
K/E-101/04.  Ms. I. Glazkova has been appointed insolvency
manager.  Creditors have until Sept. 16, 2005 to submit their
proofs of claim to 644021, Russia, Omsk, Post User Box 7797.

CONTACT:  SMNU OMSK-VODA-AUTOMATICS
          Russia, Omsk region,
          22 Partsyezda Str. 51B

          Ms. I. Glazkova
          Insolvency Manager
          644021, Russia, Omsk region,
          Post User Box 7797
          Phone: (3812) 31-36-28


SOCHI REPAIR-EXPLOITATION: Succumbs to Bankruptcy
-------------------------------------------------
The Arbitration Court of Krasnodar region commenced bankruptcy
proceedings against Sochi Repair-Exploitation Organization-16
after finding the state-owned enterprise insolvent.  The case is
docketed as A32-38955/2004-27/233-B.  Mr. R. Shubin has been
appointed insolvency manager.

Creditors may submit their proofs of claim to:

(a) SOCHI REPAIR-EXPLOITATION ORGANIZATION-16
    354067, Russia, Sochi,
    Khostinskiy region, 50 Let SSSR Str. 15

(b) Insolvency Manager
    354000, Russia, Sochi,
    Main Post Office 1477

(c) The Arbitration Court of Krasnodar region
    Russia, Krasnodar region, Krasnaya Str. 6

A hearing will take place on May 18, 2006, 2:15 p.m. at the
Arbitration Court of Krasnodar region located at Russia,
Krasnodar region, Krasnaya Str. 6.


ZHIRNOVSK-MEZH-RAY-GAS: Under Bankruptcy Supervision
----------------------------------------------------
The Arbitration Court of Volgograd region has commenced
bankruptcy supervision procedure on open joint stock company
Zhirnovsk-Mezh-Ray-Gas (TIN 3410004100).  The case is docketed as
A12-13167/05-s48.  Mr. A. Kharlanov has been appointed temporary
insolvency manager.

Creditors may send their proofs of claim to:

(a) ZHIRNOVSK-MEZH-RAY-GAS
    403791, Russia, Volgograd region,
    Zhirnovsk, Post User Box 4

    Post address: 400131, Russia, Volgograd region,
    Kommunisticheskaya Str. 38

(b) Mr. A. Kharlanov
    Temporary Insolvency Manager
    400087, Russia, Volgograd region,
    Post User Box 110

A hearing will take place on Oct. 4, 2005, 9:30 a.m.


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


RED ELITE: Files for Administration to Prevent Liquidation
----------------------------------------------------------
Home appliance retailer Red Elite de Electrodomesticos has
applied for court-supervised administration, Expansion says.

Red Elite filed for administration Tuesday at the commercial
court in Barcelona after failing to reach a refinancing deal with
local banks Caja Madrid, Banco Popular and Banco de Valencia.
The consumer electronics retailer posted EUR19 million in losses
and EUR70 million in debt for the year ended March 2005.

Red Elite is an international and multinational private company
generating EUR156 million in annual turnover from a network of 81
stores.

CONTACT:  RED ELITE DE ELECTRODOMESTICOS S.A.
          Avda. Ferrocarrils Catalans,
          145-147 08940
          Cornella de Llobregat
          Phone: 34 93 474 02 52
          Fax: 34 93 474 08 45
          E-mail: elite@redelite.es
          Web site: http://www.redelite.es

          CAJA DE AHORROS Y MONTE DE PIEDAD DE MADRID
          Plaza de Celenque, 2.
          28013 Madrid
          Phone: 902 10 86 42
          Web site: http://www.cajamadrid.es

          BANCO POPULAR ESPANOL S.A.
          34 Velazquez St.
          28001 Madrid
          Phone: +34-91-520-70-00
          Fax: +34-91-577-92-08
          Web site: http://www.bancopopular.es

          BANCO DE VALENCIA S.A.
          Calle Pintor Sorolla, 2-4
          E-46002 Valencia
          Phone: +34-96-398-45-00
          Fax: +34-96-398-45-70
          Web site: http://www.bancodevalencia.es


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


ABB LTD.: To Delist from Frankfurt, London Stock Exchanges
----------------------------------------------------------
ABB Ltd. has revealed its intention to delist its shares from
trading on the Frankfurt Stock Exchange and the London Stock
Exchange.

ABB made the decision because the average daily trading volume of
its shares on the FWB and the LSE has become insignificant over
the past three years.  The cross-border, electronic virt-x
exchange based in London handles around 75% of the daily volume
of trading in ABB shares, and the remaining volume is almost
entirely traded on the Stockholm Stock Exchange and, through the
ADR (American Depositary Receipt) program, on the New York Stock
Exchange.

Michel Demare, chief financial officer of ABB Ltd., said: "In
today's electronic trading environment, it is no longer necessary
to be listed on a large number of exchanges to provide investors
with the opportunity to trade in our shares.  Concentrating our
trading volume on a smaller number of exchanges improves
liquidity, and as a consequence the pricing of our shares."

ABB will shortly file applications to delist from both the LSE
and FWB.  ABB will delist from the LSE after the close of trading
on September 2, 2005 and it expects to finalize the delisting
from the FWB before the end of 2005.  ABB shares will continue to
be listed on the SWX Swiss Exchange (traded on virt-x), the
Stockholm Stock Exchange and the New York Stock Exchange.

CONTACT:  ABB LTD.
          Affolternstrasse 44
          8050 Zurich, Switzerland
          Phone: +41 43 317 7111
          Fax:   +41 43 317 4420
          Web site: http://www.abb.com

          ABB Corporate Communications
          Zurich
          Wolfram Eberhardt, Thomas Schmidt
          Phone: +41 43 317 6568
          Fax: +41 43 317 7958
          E-mail: media.relations@ch.abb.com

          Investor Relations
          Switzerland
          Phone: +41 43 317 3804
          Sweden
          Phone: +46 21 325 719
          USA
          Phone: +1 203 750 7743
          E-mail: investor.relations@ch.abb.com


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


ABBEY SAFETY: In Voluntary Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of
Abbey Safety Limited (trading as HB & Troll Climbing), duly
convened, and held at Abbeyfields Hotel, Tal y Bont, Bangor LL57
3UR, on July 14, 2005, these Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Claire L Dwyer be and she is hereby appointed Liquidator for the
purposes of such winding-up."

K. Lockett, Chairman of the Meeting and Company Director


ASL TECHNICAL: Creditors to Name Liquidator
-------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

   IN THE MATTER OF ASL Technical Support Engineers Limited
                       (In Liquidation)

I, Robert Caven of Grant Thornton U.K. LLP, 95 Bothwell Street,
Glasgow G2 7JZ give notice that my partner Matthew Purdon
Henderson and I were appointed Joint Interim Liquidators of ASL
Technical Support Engineers Limited by Interlocutor of the
Sheriff of North Strathclyde at Dumbarton on July 7, 2005.

Notice is hereby given that, in terms of Section 138(4) of the
Insolvency Act 1986, a Meeting of Creditors of Company will be
held at 95 Bothwell Street, Glasgow G2 7JZ, on August 11, 2005 at
2:00 p.m. for the purposes of choosing a liquidator and of
determining whether to establish a liquidation committee as
specified in Sections 138(3) and 142(1) of the said Act.

A list of names and addresses of the company's creditors will be
available for inspection free of charge at the offices below, two
business days prior to the meeting.

All creditors are entitled to attend in person or by proxy, and a
resolution will be passed by a majority of those voting.
Creditors may vote whose claims and proxies have been submitted
and accepted at the meeting or lodged beforehand at my office.
For the purpose of formulating claims, creditors should note that
the date of liquidation is July 7, 2005.

Robert Caven, Joint Interim Liquidator
July 21, 2005

CONTACT:  GRANT THORNTON U.K. LLP
          95 Bothwell Street
          Glasgow G2 7JZ
          Phone: 0141 223 0000
          Fax: 0141 223 0001
          Web site: http://www.grant-thornton.co.uk


BEAULITE LIMITED: Calls in Joint Liquidators
--------------------------------------------
At an Extraordinary General Meeting of Beaulite Limited, duly
convened, and held at The Crescent, King Street, Leicester LE1
6RX, on July 14, 2005, these Resolutions were passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and that
accordingly the Company be wound up voluntarily, and that Tyrone
Shaun Courtman and Jeremy Philip William Meadows, of Cooper Parry
LLP, be and are hereby appointed Joint Liquidators of the Company
for the purposes of such voluntary winding-up and that the Joint
Liquidators are to act jointly and severally."

At a Meeting of Creditors held on July 14, 2005 the Creditors
confirmed the appointment of Tyrone Shaun Courtman and Jeremy
Philip William Meadows as Joint Liquidators.

T. J. Wright

CONTACT:  COOPER PARRY LLP
          14 Park Row, Nottingham NG1 6GR
          Phone: +44 (0) 1332 295544
          Fax: +44 (0) 1332 295600
          Web site: http://www.cooperparry.com


BLD STORES: Hires Administrators from Begbies Traynor
-----------------------------------------------------
Name: BLD STORES LIMITED
      (Company No 03086506)

Nature of Business: Bespoke Furniture

Address of Registered Office: Begbies Traynor, Elliot House, 151
Deansgate, Manchester M3 3BP

Date of Appointment: July 25, 2005

Administrators' Names and Address: D. Bailey and S. L. Conn (IP
Nos 006739 and 001762), both of Begbies Traynor, Elliot House,
151 Deansgate, Manchester M3 3BP

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


BLUESTREAM UK: Members Decide to Liquidate Firm
-----------------------------------------------
At an Extraordinary General Meeting of the Members of Bluestream
U.K. Limited, duly convened, and held at King Street House, 15
Upper King Street, Norwich NR3 1RB, on July 8, 2005, these
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Matthew Robert Howard and Robert Geoffrey Rose, both of Larking
Gowen, King Street House, 15 Upper King Street, Norwich NR3 1RB,
be and are hereby appointed Joint Liquidators of the Company for
the purpose of its voluntary winding-up and are to act either
jointly or severally."

J. Soar, Director and Chairman


C J VANDER: Administrators from PKF Take over Operation
-------------------------------------------------------
Name: C J VANDER LIMITED
      (Company No 00763852)

Nature of Business: Silversmiths


Address of Registered Office: Knowle House, 4 Norfolk Park Road,
Sheffield S2 3QE

Date of Appointment: July 21, 2005

Administrators' Names and Address: William Duncan and Ian C.
Schofield (IP Nos 006440 and 002647), both of PKF (UK) LLP,
Knowle House, 4 Norfolk Park Road, Sheffield S2 3QE

                            *   *   *

C.J. Vander first began silver-smithing in London in 1886, and is
Great Britain's most famous sterling silverware manufacturer.

CONTACT:  PKF
          Knowle House
          4 Norfolk Park Road
          Sheffield
          South Yorkshire S2 3QE
          Phone: 0114 276 7991
          Fax: 0114 275 3538


COLERAINE F.C.: Court Adjourns Bankruptcy Hearing
-------------------------------------------------
The bankruptcy hearing of Coleraine Football Club has been
adjourned for a week, said the Belfast Telegraph.

This came as creditors met Tuesday following the winding-up order
served by the High Court last month.

The football club, with debt of about GBP1 million, has sought
for the postponement of the hearing for three to four weeks.

However, Master of Bankruptcy Charles Redpath dismissed the
request.

He said: "The simple fact of the matter is this company cannot
pay its debt.  Realistically it has been unable to pay its debt
for some considerable period of time."

Mr. Redpath also expressed concerns for both players and those
owed by Coleraine, saying that he is worried about "the creditors
in this case, not least when you look down the list of creditors
and see a number of people who are club supporters and other
people with an interest in the club, not financial, who have lost
substantial amounts of money."

He urged the club to reach an agreement for the proceedings to
continue without being advertised.  The situation is no longer
new to Coleraine officials, who have seen the club fight off bids
to wind it up through last-minute arrangements over debt.

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


CONTRACT FLOORS.COM: Administrators Enter Firm
----------------------------------------------
Name: CONTRACT FLOORS.COM LTD
      (Company No 04858948)

Nature of Business: Installation of Floor Coverings

Address of Registered Office: 1 Collingwood Place, Blackpool FY3
8HU

Date of Appointment: July 26, 2005

Administrators' Names and Addresses: Christopher Ratten (IP No
9338) of Tenon Recovery, Arkwright House, Parsonage Gardens,
Manchester M3 2LF, and Simon Thomas (IP No 08920), of Tenon
Recovery, Sherlock House, 73 Baker Street, London W1U 6RD

CONTACT:  TENON RECOVERY
          Arkwright House,
          Parsonage Gardens,
          Manchester M3 2LF
          Phone: 0161 834 3313
          Fax:   0161 827 8402
          E-mail: manchester@tenongroup.com
          Web site: http://www.tenongroup.com

          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


CORK INTERNATIONAL: Calls in Joint Liquidators
----------------------------------------------
At an Extraordinary General Meeting of the Members of
Cork International Operations Limited and Cork International
Investments Limited, duly convened, and held at Regus, 68 Lombard
Street, London EC3V 9LJ, on July 12, 2005, these Resolutions were
duly passed as an Extraordinary Resolution and as an Ordinary
Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Companies cannot, by reason of their liabilities, continue
their businesses, and that it is advisable to wind up the same,
and accordingly that the Companies be wound up voluntarily, and
that Christopher Morris and Paul Michael Davis, of Begbies
Traynor (South) LLP, 32 Cornhill, London EC3V 3BT, be and hereby
are appointed Joint Liquidators of the Companies for the purpose
of the voluntary winding-ups, and any act required or authorized
under any enactment to be done may be done by any one or more
persons holding the office of Liquidator from time to time."

P. Callaghan, Chairman

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


COROLLA LIMITED: Falls into Liquidation
---------------------------------------
At an Extraordinary General Meeting of Corolla Limited, duly
convened, and held at Conference Room 2, Portland Basin Museum,
Portland Basin, Ashton under Lyne, these Extraordinary Resolution
was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Graham Platt, of David Platt Associates, be and is hereby
appointed as Liquidator for the purposes of such winding-up."

G. Fielden, Director


CORUS GROUP: Names Siemens' Italian Unit as Supplier
----------------------------------------------------
As part of its previously announced GBP130 million Long Products
investment at Scunthorpe steelworks, Corus Group plc has named
VAIPOMINI, the Italian based subsidiary of Siemens VAI, as its
chosen supplier to manufacture and install new mill stands, as
well as cooling and finishing processes, in order to introduce
rail rolling alongside existing sections production.

After a full technical appraisal and rigorous selection process,
VAIPOMINI has been chosen to provide a technically-innovative
solution that includes de-scaling facilities together with a
seven universal stand finishing mill and state-of-the-art
marking, hot-sawing and cooling equipment. In addition, VAIPOMINI
will install despatch and handling equipment.

Once rail production has moved to Scunthorpe from Workington, the
new facility will enable Corus to roll rail in lengths up to 120m
long in an inline continuous finishing mill; a world first for
the steel industry.

Andrew Page, Managing Director of Corus Construction and
Industrial said: "VAIPOMINI is one of the world leaders in
housing-less stand design and they have offered a technically
robust solution that provides the consistent quality and high
performance required to meet the exacting market demands for long
products.

"This investment not only introduces a rail rolling capability
onto the mill but will offer improved tolerances and an enhanced
service to our structural section customers."

Gerard Glas, Managing Director of Corus Rail, said: "The
production of longer rails is in response to our customers'
evolving needs and demonstrates our ongoing commitment to the
rail industry and its future development."

Giuseppe Ferrario, Managing Director of VAIPOMINI said: "We are
delighted to be working with Corus to deliver the
technically-demanding solution that they require.  We will be
providing a total manufacturing solution, offering Corus the
flexibility to quickly change and setup rolling stands, in order
to timely support its broad product mix."

Corus expects the installation to be completed by summer 2006
with full production by the end of 2006.

                            *   *   *

Corus was created through the merger of British Steel plc and
Koninklijke Hoogovens N.V.  Headquartered in London, it is one of
the world's largest steel producers.  It suffered five years ago
from the crisis in British manufacturing, which prompted it to
shake up management, close plants, cut jobs, and sell assets to
lower debt.  Its debt was thought to stand at GBP1.6 billion in
2002.

It planned to acquire Brazilian steel maker, Companhia
Siderurgica Nacional, and sell European aluminum plants, but
called the transactions off on market difficulties and opposition
from the Dutch management.

After posting net loss of GBP458 million in 2003, it embarked on
a restructuring program, signed new EUR1.2 billion banking
facility, and issued GBP307 million worth of shares.

It returned to operating profit in the first quarter in 2004.
The recent recovery of steel prices and the strength of the euro
are expected to help it achieve relatively strong earnings.

CONTACT:  CORUS GROUP PLC
          30 Millbank
          London SW1P 4WY
          United Kingdom
          Phone: +44-20-7717-4444
          Fax: +44-20-7717-4455
          Web site: http://www.corusgroup.com

          Annanya Sarin
          Corporate Communications
          Phone: 020 7717 4532

          Simon Collins
          Local Media
          Phone: 01536 403 4801


CPS CIVIL: Calls in Wilson Field Administrator
----------------------------------------------
Name: CPS (CIVIL ENGINEERING) LTD
      (Company No 02544046)

Nature of Business: Ground Works

Trade Classification: Division 5-23 General Construction and
Demolition

Date of Appointment: July 22, 2005

Administrators' Names and Address: Lisa Hogg and David Elliot (IP
Nos 9037 and 5632), both of Wilson Field, The Annexe, The Manor
House, 260 Ecclesall Road South, Sheffield S11 9PS

CONTACT:  WILSON FIELD
          The Annexe
          The Manor House
          260 Ecclesall Road South
          Sheffield
          South Yorkshire S11 9UZ
          Phone: 0114 235 6780
          Fax: 0114 262 0661


CRIMWAY LIMITED: Lighting Maker Hires Administrators
----------------------------------------------------
Name: CRIMWAY LIMITED
      (Company No 3056889)

Nature of Business: Manufacture of Lighting Equipment

Address of Registered Office: Noteberne House, 84 High Street,
Southampton, Hampshire SO14 2NT

Date of Appointment: July 26, 2005

Administrators' Names and Address: Kevin James Wilson Weir and
Gregory Andrew Palfrey (IP Nos 9332 and 9060), both of Smith &
Williamson Limited, Noteberne House, 84 High Street, Southampton,
Hampshire SO14 2NT

CONTACT:  CRIMWAY LTD
          82 Durham Road
          London SW20 0TL
          United Kingdom
          Phone: (020) 8944 6789
          Fax: (020) 8944 9594

          SMITH & WILLIAMSON LIMITED
          Notebeme House
          84 High Street
          Southampton
          Hampshire SO14 2NT
          Phone: 02380 831 050
          Fax: 02380 831 051
          E-mail: KW2@smith.williamson.co.uk


CUZEN & MILNE: Creditors Meeting Set this Week
----------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

             IN THE MATTER OF CUZEN & MILNE LIMITED

I, Blair Carnegie Nimmo, Chartered Accountant, KPMG LLP, 191 West
George Street, Glasgow G2 2LJ, United Kingdom, hereby give
notice, that by Interlocutor of the Sheriff of Glasgow &
Strathkelvin dated June 29, 2005, I was appointed interim
liquidator of Cuzen & Milne Limited trading as Strathkelvin
Windows, having its registered office at 2/3 Kirkintilloch
Industrial Estate, Milton Road, Kirkintilloch G66 1SY.

Pursuant to Section 138(4) of the Insolvency Act 1986 and Rule
4.12 of the Insolvency (Scotland) Rules 1986, the first meeting
of creditors will be held within KPMG LLP, 191 West George
Street, Glasgow G2 2LJ at 10:00 a.m. on August 9, 2005 for the
purpose of choosing a Liquidator.  The meeting may also consider
other resolutions referred to in Rule 4.12(3).  All creditors are
entitled to attend in person or by proxy and to vote, provided
their claims and proxies, if any, have been submitted on or
before the meeting.

B. C. Nimmo, Interim Liquidator
July 22, 2005

CONTACT:  KPMG LLP
          191 West George Street
          Glasgow G2 2LJ
          Phone: (0141) 226 5511
          Fax: (0141) 204 1584
          Web site: http://www.kpmg.co.uk


C & X FASHIONS: Nominates Liquidator
------------------------------------
At an Extraordinary General Meeting of the Members of C & X
Fashions Ltd., duly convened, and held at 43 Blackstock Road,
London N4 2JF, on July 18, 2005, this Extraordinary Resolution
was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Andreas Georgiou Kakouris, 43 Blackstock Road, London N4 2JF, be
and he is hereby nominated Liquidator for the purposes of the
winding-up."

S. Xiouris, Chairman

CONTACT:  KAKOURIS & MICHAELIDES
          43 Blackstock Road
          London N4 2JF
          Phone: 020 7226 6196
          Fax: 020 7704 6500
          E-mail: info@agkakouris.co.uk


EUJET: Court Appoints Examiner to Save Jobs
-------------------------------------------
EUjet has been put into examinership in an attempt to rescue jobs
at Shannon Airport and pay redundant workers at Kent Airport,
said the Limerick post.

The low-fare carrier EUjet has closed operation after parent
company Planestation Group plc fell into administration due to
continuing losses.  The shutdown left 5,400 passengers stranded.

The company presented before the court its plan to revive its
main charter business and keep its airline Operations Certificate
to lure potential buyers.  The plan would also secure the jobs of
44 people at Shannon, while 160 former workers at Kent may
receive redundancy fees.

EUjet, which flies to 21 destinations, has booked more than
90,000 flights for the coming weeks.  The company intends to
refund around 100,000 passengers via their credit cards as its
cash was reportedly still in an escrow account and had not been
drawn down.

Planestation administrators Grant Thornton have declared 127
employees redundant, and canceled all flights at Kent Airport, as
the firm could no longer cover necessary insurance.  However,
some 65 workers have been retained to ensure the revival of the
airport's operations.

The parent company said EUjet's greater cash requirements are to
be met by the sale of its 75 percent stake in Kent International
Business Park, but it needed "an extension of facilities while
the disposal was completed."

CONTACT:  PLANESTATION GROUP PLC
          5 Berkeley Sq., Mayfair
          London
          W1J 5AB, United Kingdom
          Phone: +44-20-7495-8686
          Fax: +44-20-7493-0189
          Web site: http://www.planestation.com
          Contact:
          Richard Keith Bingham, CEO
          Martin May, COO


EUROPEAN INTERIOR: In Voluntary Liquidation
-------------------------------------------
At an Extraordinary General Meeting of the Members of European
Interior Technologies Limited, duly convened, and held at the
offices of Harris Lipman, 2 Mountview Court, 310 Friern Barnet
Lane, Whetstone, London N20 0YZ, on July 15, 2005, at 11:45 a.m.,
these Extraordinary Resolution was duly passed:

"That the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the Company,
and accordingly that the Company be wound up voluntarily, and
that Freddy Khalastchi, of Harris Lipman, 2 Mountview Court, 310
Friern Barnet Lane, Whetstone, London N20 0YZ, an insolvency
practitioner, licensed by the Institute of Chartered Accountants
in England and Wales, is hereby appointed as Liquidator of the
Company for the purposes of the voluntary winding-up."

At the subsequent Meeting of Creditors held at the same place on
the same day the voluntary liquidation was confirmed by the
Creditors and the appointment of Freddy Khalastchi, of Harris
Lipman, 2 Mountview Court, 310 Friern Barnet Lane, Whetstone,
London N20 0YZ, as Liquidator was ratified.

M. J. Blackwood, Chairman

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


F B DELL: Calls in Liquidator from Poppleton & Appleby
------------------------------------------------------
At an Extraordinary General Meeting of F B Dell Property
Developers Limited, duly convened, and held at Premier Tavel Inn,
Warwick Road, off Elstree Way, Borehamwood, Hertfordshire WD6
1US, on July 14, 2005, at 11:30 a.m., this Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Ian Michael Rose and Robert Michael Young, of Poppleton &
Appleby, The Old Barn, Caverswall Park, Caverswall Lane, Stoke on
Trent ST3 6HP, be and are hereby appointed Joint Liquidators for
the purposes of such winding-up and that the Joint Liquidators be
authorized to act jointly and severally in the liquidation."

F. Dellinger

CONTACT:  THE P&A PARTNERSHIP
          The Old Barn, Caverswall Park, Caverswall Lane
          Stoke on Trent ST3 6HP
          Phone: (0114) 275 5033
          Fax: (0114) 276 8556
          E-mail: info@poppletonappleby.co.uk
          Web site: http://www.thepandapartnership.com


FLEXIBREAKS LIMITED: Names Antony Batty Liquidator
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Flexibreaks
Limited, convened, and held at New House, Suite 24, 67-68 Hatton
Garden, London EC1N 8JY, on July 15, 2005, at 11:00 a.m., these
Resolutions were passed as an Extraordinary Resolution and as an
Ordinary Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
William Antony Batty, of Antony Batty & Company, New House, Suite
24, 67-68 Hatton Garden, London EC1N 8JY, be appointed Liquidator
of the Company for the purposes of the voluntary winding-up."

V. Bussey, Chairman

CONTACT:  ANTONY BATTY & COMPANY
          New House
          Suite 24
          67-68 Hatton Garden
          London EC1N 8JY
          Phone: 020 7831 1234
          Fax: 020 7430 2727
          E-mail: antonybatty@hotmail.com


GAIM UK: Owners Opt for Administration
--------------------------------------
Name: GAIM (UK) LIMITED
      (t/a The Enfield Hotel and The Burwood House Hotel)
      (Company No 04673099)

Nature of Business: Hotel, Motel (with or without rest)

Trade Classification: 47

Date of Appointment: July 25, 2005

Administrators' Names and Address: Shay Bannon and Antony David
Nygate (IP Nos 8777/01 and 9237), both of BDO Stoy Hayward LLP, 8
Baker Street, London W1U 3LL

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


GULF INTERMODAL: Calls in Administrators from Begbies Traynor
-------------------------------------------------------------
Name: GULF INTERMODAL U.K. LIMITED
      (Company No 04873685)

Nature of Business: Maintenance of Containers

Address of Registered Office: 1 Winckley Court, Chapel Street,
Preston PR1 8BU

Date of Appointment: July 22, 2005

Administrators' Names and Address: Andrew Dick and David Appleby
(IP Nos 8688 and 8976), both of Begbies Traynor, 1 Winckley
Court, Chapel Street, Preston, Lancashire PR1 8BU

                            *   *   *

With 30 years experience in the container industry, Gulf
Intermodal U.K. Ltd. specialized containers to be designed and
manufactured to its client's own requirements.  Visit
http://www.special-containers.co.uk/for more information.

CONTACT:  GULF INTERMODAL U.K. LTD
          Northgate, Morecambe,
          Lancs LA3 3AZ England,
          United Kingdom
          Phone: +44 (0) 1524 849294
          Fax: +44 (0) 1524 847783
          E-mail: sales@special-containers.co.uk

          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


INFO-BUIS SOLUTIONS: Calls in Liquidator
----------------------------------------
At an Extraordinary General Meeting of Info-Buis Solutions
Limited, duly convened, and held on July 15, 2005, this
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Andrew David Rosler, of ICS (North East) Limited, 65 Duke Street,
Darlington DL3 7SD, be and he is hereby appointed Liquidator for
the purposes of such winding-up."

G. S. Garcha, Director


INTERNATIONAL POWER: S&P Revises Outlook to Stable
--------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on
U.K.-based global power developer International Power plc to
stable from negative reflecting the company's strong performance
and successful implementation of several large acquisitions.

At the same time, Standard & Poor's affirmed all its ratings on
IPower, including its 'BB-' long-term issuer credit rating on the
company.

"The outlook revision is based on the smooth integration of the
Edison Mission Energy portfolio of assets into IPower in addition
to the company's strong operational and financial performance,
which has exceeded expectations, and good level of contracted
power for the next 12 months," said Standard & Poor's credit
analyst Magdalena Richardson.

In addition, with the acquisition of the Saltend
combined-cycle-gas-turbine plant, IPower now has a good and
varied portfolio of assets in the U.K. The company's revolving
credit facility has been refinanced and the net debt position at
the holding company level was positive GBP141 million cash
(EUR203 million) at June 30, 2005.  IPower's consolidated debt
capitalization at that time was 56%.

IPower has sufficient levels of liquidity, adequate cash interest
coverage levels, consolidated leverage of less than 60%, and an
overall projected cash quality that is not expected to weaken.
The stable outlook assumes that IPower will continue a process of
organic growth through investments in individual projects.

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

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


INTERNATIONAL SILVER: Names PKF Administrator
---------------------------------------------
Name: INTERNATIONAL SILVER COMPANY LIMITED
      (Company No 3768277)

Nature of Business: Ceramic and Giftware Distribution

Address of Registered Office: Knowle House, 4 Norfolk Park Road,
Sheffield S2 3QE

Date of Appointment: July 21, 2005

Administrators' Names and Address: William Duncan and Ian C.
Schofield (IP Nos 006440 and 002647), both of PKF (UK) LLP,
Knowle House, 4 Norfolk Park Road, Sheffield S2 3QE

CONTACT:  PKF
          Knowle House
          4 Norfolk Park Road
          Sheffield
          South Yorkshire S2 3QE
          Phone: 0114 276 7991
          Fax: 0114 275 3538


JARVIS PLC: Has New Chief Operating Officer
-------------------------------------------
At the Extraordinary General Meeting of Jarvis plc, the
resolutions relating to the proposals for the Increase and
Reorganization of Share Capital and other matters in connection
with the restructuring were approved by shareholders with the
required majority for both Ordinary and Special Resolutions being
met.

Jarvis is currently proposing to affect the Debt for Equity
Exchange by means of a consensual restructuring, rather than by
way of Scheme of Arrangement.  Further announcement providing
details of the timetable for this exercise will be issued
shortly.

At the Extraordinary General Meeting, Richard Entwistle was
appointed as the company's new Chief Operating Officer.  Mr.
Entwistle, a former director of Amey plc, will join the company
and be appointed to the Board on 8 September 2005.  Further
particulars will be filed at the time of appointment.

                            *   *   *

In July, the company reported turnover has fallen to GBP585.7
million (2004: GBP1076.1 million), principally due to the
transfer of rail maintenance to Network Rail with effect from 1
April 2004, a reduction in track renewals arising primarily from
the slowing of work on the West Coast Main Line and the decision
to withdraw from bidding for all construction and FM contracts.

The reported loss before tax is GBP353.8 million (2004: GBP256.0
million loss) of which GBP246.8 million is exceptional and
relates to provisions for construction losses, write off of
goodwill in the roads businesses, costs incurred in relation to
the restructuring of the Group and provisions in respect of aged
debtor balances and certain work in progress.

The Directors believe that the successful completion of the
restructuring announced on 12 July and the continuation of the
Group's strategy of focusing on the core businesses of Rail
Plant and Road, aligned with further cost saving measures and
exit from or stabilization of the non core activities of
construction and FM, will provide a much improved base from
which to develop the business.

CONTACT:  JARVIS PLC
          24 Britton St.
          London
          EC1M 5UA
          United Kingdom
          Phone: +44-20-7017-8000
          Fax: +44-20-7017-0083
          Web site: http://www.jarvisplc.com

          Bridget Fury, Merlin
          Phone: 020 7653 6620


JUST CONSTRUCTION: Calls in Liquidator
--------------------------------------
At an Extraordinary General Meeting of Just Construction Jobs
Limited, duly convened, and held at Tomlinsons, Business
Development Centre, Eanam Wharf, Blackburn BB1 5BL, on July 7,
2005, these Resolutions were duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up
voluntarily and that the Company be wound up accordingly, and
that A. H. Tomlinson, of Tomlinsons, Business Development Centre,
Eanam Wharf, Blackburn BB1 5BL, is hereby appointed as Liquidator
of the Company."

At the subsequent Meeting of Creditors held on the same date, the
Resolution was ratified, together with the appointment of A. H.
Tomlinson, of Tomlinsons, Business Development Centre, Eanam
Wharf, Blackburn BB1 5BL as Liquidator of the Company.

C. Morris, Chairman

CONTACT:  TOMLINSONS
          Business Development Center,
          Eanam Wharf,
          Blackburn BB1 5BL
          E-mail: advice@tomlinsons.co.uk
          Web site: http://www.tomlinsons.co.uk


KLAUSSNER FURNITURE: Furniture Manufacturer Calls Administrator
---------------------------------------------------------------
Name: KLAUSSNER FURNITURE INDUSTRIES (UK) LIMITED
      (Company No 1159913)

Nature of Business: Manufacture and Retail of Furniture

Trade Classification: 09

Date of Appointment: July 21, 2005

Administrators' Names and Address: Dermot Justin Power and
Matthew Dunham (IP Nos 6006/01 and 8376), both of BDO Stoy
Hayward LLP, Commercial Buildings, 11-15 Cross Street, Manchester
M2 1BD

CONTACT:  KLAUSSNER FURNITURE
          Lea Green Industrial Estate
          St Helens
          Lancashire WA9 4QA
          Phone: 01744 810110
          Fax: 01744 819969

          BDO STOY HAYWARD LLP
          Commercial Buildings,
          11-15 Cross Street,
          Manchester M2 1BD
          Phone: 0161 817 3700
          Fax: 0161 817 3711
          E-mail: manchester@bdo.co.uk
          Web site: http://www.bdo.co.uk


MADISONS ESTATE: Goes into Liquidation
--------------------------------------
Company Name: MADISONS ESTATE AGENTS LTD.
              109 High Street, Hounslow,
              Middlesex, TW3 1RT

Registration Number: 03807656

Court: High Court of Justice

Date of Filing Petition: May 12, 2005

No. of Matter: 003131 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


MDM LINCS: EGM Passes Winding-up Resolutions
--------------------------------------------
At an Extraordinary General Meeting of the Members of MDM Lincs
Freight Limited, duly convened, and held at Forest Pines Hotel,
Ermine Street, Broughton, Brigg, South Humberside DN20 0AQ, on
July 15, 2005, these Resolutions were duly passed as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Claire L. Dwyer be and she is hereby appointed Liquidator for the
purposes of such winding-up."

M. Riby, Chairman of the Meeting and Company Director


MEPC LIMITED: Moody's Downgrades Unsecured Bonds to B2
------------------------------------------------------
Moody's Investors Service lowered to B1 from Ba3 the corporate
family rating, and to B2 from B1 the long-term senior unsecured
ratings, of MEPC Limited (MEPC).  The B3 rating of the guaranteed
preferred securities was confirmed.  The outlook on all ratings
is stable.  These rating actions conclude the review initiated
last year when MEPC announced its intent to adopt a secured debt
financing strategy.

Lowered ratings: MEPC Limited's --

(a) Senior unsecured bonds and issuer rating to B2, from B1; and

(b) Corporate family rating to B1 from Ba3

Rating confirmed: MEPC International Capital LP -- rating for
guaranteed preferred securities at B3.

While acknowledging the valuation uplift registered in the six
months to March 2005, Moody's said that the downgrade of the
corporate family rating to B1 reflects the moderate size of
MEPC's portfolio, and concentration of its six principal assets
in the U.K. business parks sector.

It also takes account that although steady rental income and
lower debt levels have been reflected in better interest
coverage, this remained very weak at just over one times in the
six months to March 2005, if interest from the Leconport Estates
loan is excluded.  (Leconport Estates, MEPC's immediate holding
company, has received a loan from MEPC derived from cash proceeds
from earlier asset sales).

Moody's added that the risk of future increases in loans to
Leconport Estates, which at March 2005 stood at GBP1.4 billion,
is also factored into the rating.

The downgrade to B2 of the senior unsecured rating reflects the
significant degree of effective subordination which will be
experienced by MEPC's unsecured creditors as a result of the
company's new secured credit facility, which is expected to be
finalized over the next month or so.  Moody's added that secured
borrowing is set to dominate MEPC's capital structure going
forward, leaving limited flexibility and unencumbered asset
coverage (at less than one times if the Leconport loan is
excluded) for the remaining unsecured creditors, predominantly
the two rated Eurobonds maturing in 2006.

Moody's noted that as part of the ongoing rationalization of
MEPC's liability structure, it is likely that the outstanding
$215 million preferred shares (QUIPS) will be called in the near
future.  The stable outlook anticipates that in the event that
the QUIPS are called, adequate funding will be in place to settle
this redemption.

Headquartered in London, England, MEPC is one of the U.K.'s
leading business park investors and developers, with a GBP906
million portfolio of investment and development properties at
March 2005.  MEPC's ultimate parent entity is BT Pension Scheme
(BTPS).

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

          Niel Bisset, Senior Vice-President
          European Corporates
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


MERLIN ADHESIVE: Administrators from BWC Business Move in
---------------------------------------------------------
Name: MERLIN ADHESIVE TAPES LIMITED
      (Company No 05070189)
Nature of Business: Printing, Packaging and Adhesive Tapes

Registered Office of Company: c/o BWC Business Solutions, 8 Park
Place, Leeds LS1 2RU

Date of Appointment: July 26, 2005

Joint Administrators' Names and Address: Gary Edgar Blackburn and
Paul Andrew Whitwam, (IP Nos 6234 and 8346), BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU

                            *   *   *

Merlin Adhesive Tape Solutions Ltd. offers an extensive range of
single and double coated foam tapes, protection films, tamper
evident tapes and bag sealing tapes.  Visit
http://www.merlintapes.comfor more information.

CONTACT:  MERLIN ADHESIVE TAPES (WEST YORKSHIRE)
          Birds Royd Lane
          Brighouse
          West Yorkshire HD6 1LQ
          United Kingdom
          Phone: +44 (0) 1484 721 118
          Fax: +44 (0) 1484 721 818
          E-mail: sales@merlintapes.com

          BWC BUSINESS SOLUTIONS
          8 Park Place
          Leeds
          West Yorkshire LS1 2RU
          Phone: 0113 243 3434
          Fax: 0113 243 5049
          E-mail: bwc@bwc-solutions.com


MG ROVER: Union Angry Over Phoenix Four's 'Lowered' Pledge
----------------------------------------------------------
Reports that the "Phoenix Four" will chip in just GBP5,000 each
to the trust fund for former MG Rover workers have reportedly
angered the Transport and General Workers' Union.

This came after the Times revealed that the former Rover
directors, led by chairman John Towers, had offered an amount
lower that what they promised on account of the Department of
Trade and Industry inquiry.

Gerard Coyne, the union's regional secretary, said: "Rover
workers have been badly let down here in another twist in a tale
of greed.  They were led to believe this fund would have
substantial monies paid into it by the Phoenix Four."

He described the pledge as "what amounts to a scrap over the
petty cash."

According to the Guardian, the four men earlier said they would
inject assets of up to GBP50 million to the fund for about 6,000
workers affected by MG Rover's collapse in April.  The figure was
later brought down to between GBP10 million - GBP30 million.

The directors then said that assets could not be endorsed to the
trust until the DTI had issued a report on MG Rover's crisis.
They provided no explanation, only that the move was based on
legal advice.

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


MISYS PLC: Inks Partnership with Danish Bank
--------------------------------------------
Misys Banking Systems, with its Misys Trade Innovation and Misys
eServices Platform Trade Edition, has been chosen by Danish Spar
Nord Bank A/S as a combined trade finance solution to help
increase their portfolio of customer services.  The selection
follows a 14-month review of alternative trade finance solutions
to replace their existing system.

The choice was based upon Misys' ability to provide the best and
most flexible Internet client front-end, offering full STP from
front-to-back and seamless integration with the existing
incumbent systems.  The Misys solution will allow the bank to
improve customer services by providing a market leading Internet
front-end to its corporate customers.  It will also help the bank
to automate a large number of manual processes, thereby improving
efficiency and reducing operational risk.

Misys Trade Innovation with Misys Trade Edition will enable the
bank to realize its strategy to become the "local bank of the
future," combining a local presence with the advantages of
offering full scale banking services.

Hanne Balling, Senior Vice President and Head of International
Division at Spar Nord Bank A.S., said: "Internet-based trade
finance services are high on the agenda for most corporate
customers, and we therefore decided to look for a next generation
trade finance solution to remain competitive in this strategic
business area.

"We were impressed with the flexibility, ease-of-use and the
breadth and depth of business functionality in Misys Trade
Innovation and Trade Edition.  The comprehensive business
coverage and the intuitive and flexible workflow management
capabilities will allow us to automate a range of previously
manual processes and thereby reduce the operational risk, improve
quality to clients and improve processing speed."

Steen Jensen, Regional Manager at Misys Banking Systems, said:
"Spar Nord Bank A/S has built an excellent reputation for
professionalism and customer service.  The Misys Trade Innovation
and Misys Trade Edition solutions are very much in keeping with
this profile, allowing the bank to offer customers a raft of
services via automated STP front-end processes.  We are delighted
to continue to work with Spar Nord Bank A.S. to achieve their
goals."

                            *   *   *

Sesame, a wholly owned subsidiary of Misys plc, has sold its 60%
stake in Assureweb Limited, the B2B Internet portal for
transaction of life and pensions business.  The disposal of
Sesame's stake in Assureweb is likely to give rise to a small
accounting loss on disposal.

Meanwhile, Misys plc has acquired regulatory risk management
software firm, Almonde, for EUR15 million.  The combined
expertise of Almonde and Misys will bring together the leading
forces in risk management technology to enable banks and
corporate customers to manage their risks across the whole
organization for Basel II or IAS compliance, risk exposure
around ALM, or improving profitability around funds transfer
pricing.

In July, Misys reported annual turnover dropped to GBP888 million
from GBP900 million last year, while operating profit rose to
GBP41 million from GBP30 million.

Kevin Lomax, Executive Chairman, Misys, said: "These results are
encouraging.  They reflect some improvement in trading conditions
across our businesses but more importantly the benefit of the
actions we have been taking to reposition our businesses for
organic growth.  It has been a year of real progress, one that
gives us confidence for our future performance."

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


NETWORK CENTRIC: Calls in Valentine to Liquidate Biz
----------------------------------------------------
At an Extraordinary General Meeting of Network Centric Services
Limited, duly convened, and held at the offices of Valentine &
Co., 4 Dancastle Court, 14 Arcadia Avenue, London N3 2HS, on
Thursday July 14, 2005, these Resolutions were duly passed as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Robert Valentine and Mark Reynolds, of Valentine & Co., 4
Dancastle Court, 14 Arcadia Avenue, London N3 2HS, be appointed
Joint Liquidators of the Company for the purposes of the
voluntary winding-up and that the Joint Liquidators be authorized
to act jointly and severally in the liquidation."

S. Perrin, Chairman

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


NORTHSEC GUARDING: High Court Orders Winding-up
-----------------------------------------------
Company Name: NORTHSEC GUARDING LIMITED
              Swan House, Lakeside,
              Calder Island Way, Wakefield,
              West Yorkshire, WF2 7AW

Registration Number: 04832110

Court: High Court of Justice

Date of Filing Petition: May 25, 2005

No. of Matter: 003493 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          3rd Floor, 1 City Walk,
          Leeds, LS11 9DA
          Phone: 01132 338222
          Fax: 01132 338332


NOVUS FOODS: Calls in Administrators from Baker Tilly
-----------------------------------------------------
Company Names: NOVUS FOODS HOLDINGS LIMITED
               (Company No 03891982)

               NOVUS FOODS LIMITED
               (Company No 02888442)


Nature of Business: R & D on Natural Science and Engineer and
                    Non-specialized wholesale food

Registered Office of Company: c/o Baker Tilly, Brazennose House,
Lincoln Square, Manchester M2 5BL

Date of Appointment: July 26, 2005

Joint Administrators' Names and Address: Stephen Mark Quinn and
Lindsey Jane Cooper (IP Nos 005761 and 008931), Baker Tilly,
Brazennose House, Lincoln Square, Manchester M2 5BL

                            *   *   *

Novus Foods Limited's managing director is KG Dickford.  Visit
http://www.suparnet.comfor more information.

CONTACT:  NOVUS FOODS LTD
          Unit 31 Leslie Hough Way
          Salford University Business Park
          Salford M6 6AJ
          Lancashire
          Phone: 0161 736 8180

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


OBSERVANT ELECTRONICS: Fanshawe Lofts Administrators Enter Firm
---------------------------------------------------------------
Name: OBSERVANT ELECTRONICS LIMITED
      (Company No 03744592)

Nature of Business: Manufacture Electrical Equipment

Registered Office of Company: Unit 14, Enterprise Centre,
Lysander Road, Bowerhill Trading Estate, Melksham, Wiltshire SN12
6SP

Trade Classification: 3162

Date of Appointment: July 22, 2005

Joint Administrators' Names and Address: Stephen John Adshead and
Antony Robert Fanshawe (IP Nos 008574 and 005944), Fanshawe
Lofts, 41 Castle Way, Southampton SO14 2BW

                            *   *   *

The company was formed in 1999.  Its director is Jonathan Luke.
Visit http://www.observantworld.comfor more information.

CONTACT:  OBSERVANT ELECTRONICS LTD.
          Unit 14 Enterprise Centre
          Bowerhill Industrial Estate
          Melksham SN12 6SP
          Wiltshire
          Phone: 01225 704631
          Fax: 01225 793390

          FANSHAWE LOFTS
          41 Castle Way
          Southampton
          Hampshire SO14 2BW
          Phone: 023 8023 3522
          Fax: 023 8023 3504
          E-mail: sa@fanshawe-lofts.co.uk
                  arf@fanshawe-lofts.co.uk


PACKAGING LIMITED: Members Pass Winding-up Resolutions
------------------------------------------------------
At an Extraordinary General Meeting of the Members of Packaging
Limited, duly convened, and held at Alexandra Dock Business
Centre, Fisherman's Wharf, Grimsby, North East Lincolnshire, on
July 15, 2005, these Resolutions were duly passed as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Charles Howard Ranby-Gorwood be and he is hereby appointed
Liquidator for the purposes of such winding-up."

M. Deans, Chairman


P & P DESIGNS: Heads into Liquidation
-------------------------------------
Company Name: P & P DESIGNS PLC
              1 Panther Drive Panther House,
              3rd Floor Brent Park Drury Way,
              London, NW10 0JP

Registration Number: 03681313

Court: High Court of Justice

Date of Filing Petition: May 12, 2005

No. of Matter: 003140 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


READCO 300: Hires PricewaterhouseCoopers Administrator
------------------------------------------------------
Name: READCO 300 LIMITED
      (Company No 04214112)

Nature of Business: Bakery

Registered Office of Company: PricewaterhouseCoopers LLP, Benson
House, 33 Wellington Street, Leeds LS1 4JP

Trade Classification: 9

Date of Appointment: July 20, 2005

Administrators' Names and Address: Edward Klempka, Nick E. Reed
and Derek A. Howell (IP Nos 174, 1168 and 788), of
PricewaterhouseCoopers LLP, Benson House, 33 Wellington Street,
Leeds LS1 4JP

                            *   *   *

Readco 300 Limited is trading as Hilliers of Plymouth.  It is the
major baker of quiche and other bakery products for the retail
market, employing around 350 people.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Benson House
          33 Wellington Street
          Leeds LS1 4JP
          Phone: [44] (113) 289 4000
          Fax: [44] (113) 289 4460
          E-mails: edward.klempka@uk.pwcglobal.com
                   steve.a.ellis@uk.pwcglobal.com
          Web site: http://www.pwcglobal.com


RENAISSANCE INTERNATIONAL: Calls in Administrator
-------------------------------------------------
Name: RENAISSANCE INTERNATIONAL LIMITED
      (Company No 03852147)

Nature of Business: Film Distributors

Trade Classification: 9211-Motion Picture and Video Production
and 9212-Motion Picture and Video Distribution

Date of Appointment: July 15, 2005

Administrator's Name and Address: C. M. Iacovides of Jeffreys
Henry Jacobs, (IP No 005428), Fergusson House, 2nd Floor, 124-128
City Road, London EC1V 2NJ

CONTACT:  JEFFREYS HENRY JACOBS
          124-128 City Road, London EC1V 2NJ
          Phone: 020 7670 9010
          Fax: 020 7670 9011
          Web site: http://www.jhj.co.uk


ROBERTS & BELK: Appoints Administrators from PKF
------------------------------------------------
Name: ROBERTS & BELK LIMITED
      (Company No 4605613)

Nature of Business: Silversmiths

Address of Registered Office: Knowle House, 4 Norfolk Park Road,
Sheffield S2 3QE

Date of Appointment: July 21, 2005

Administrators' Names and Address: William Duncan and Ian C.
Schofield (IP Nos 006440 and 002647), both of PKF (U.K.) LLP,
Knowle House, 4 Norfolk Park Road, Sheffield S2 3QE

                            *   *   *

Roberts & Belk Limited was established in 1810.

CONTACT:  PKF
          Knowle House
          4 Norfolk Park Road
          Sheffield
          South Yorkshire S2 3QE
          Phone: 0114 276 7991
          Fax: 0114 275 3538


S A CORPORATION: Winding up Gets Court Approval
-----------------------------------------------
Company Name: S A CORPORATION LIMITED
              24 Saint James's Road,
              Hampton,
              Middlesex, TW12 1DQ

Registration Number: 02841014

Court: Bristol District Registry

Date of Filing Petition: May 11, 2005

No. of Matter: 2124 of 2005

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          6th Floor, Sunley House,
          Bedford Park,
          Croydon, CR9 1TX
          Phone: 020 8681 5166
          Fax: 020 8667 8000


SMART CREATIONS: Members Pass Winding-up Resolution
---------------------------------------------------
At an Extraordinary General Meeting of the Members of Smart
Creations Limited, duly convened, and held at 20 Winmarleigh
Street, Warrington, Cheshire WA1 1JY, on July 15, 2005, these
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Robert W. Keating, of R W Keating & Co, 20 Winmarleigh Street,
Warrington, Cheshire WA1 1JY, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

G. A. Furling, Director

CONTACT:  R. W. KEATING & CO.
          2nd Floor
          20 Winmarleigh Street
          Warrington
          Cheshire WA1 1JY
          Phone: 01925 245004
          Fax: 01925 245357
          E-mail: robert@rwkeating.fsnet.co.uk


SOUTHERN CONSTRUCTION: Court Okays Liquidation
----------------------------------------------
Company Name: SOUTHERN CONSTRUCTION LIMITED
              Unit A, The Enterprise Centre,
              Cricket Lane, Beckenham,
              Kent, BR3 1LH

Registration Number: 02642968

Court: Birmingham District Registry

Date of Filing Petition: April 13, 2005

No. of Matter: 2367 of 2005

Date of Winding-up Order: July 18, 2005

CONTACT:  Official Receiver
          6th Floor, Sunley House,
          Bedford Park,
          Croydon, CR9 1TX
          Phone: 020 8681 5166
          Fax: 020 8667 8000


SPECIALIST INSTALLATIONS: Liquidation Receives Go Signal
--------------------------------------------------------
Company Name: SPECIALIST INSTALLATIONS (TD) LIMITED.
              Cradoc House,
              Heol Y Llyfrau,
              Aberkenfig, CF32 9PL

Registration Number: 04620311

Court: Bristol District Registry

Date of Filing Petition: April 29, 2005

No. of Matter: 2021 of 2005

Date of Winding-up Order: July 6, 2005

CONTACT:  Official Receiver
          2nd Floor Kings Wharf,
          20-30 Kings Road,
          Reading, RG1 3ET
          Phone: 0118 958 1931
          Fax: 0118 950 4941/3234


S P ETAIL: Appoints Liquidators from PKF
----------------------------------------
At an Extraordinary General Meeting of the Members of S P Etail
Limited, duly convened, and held at Farringdon Place, 20
Farringdon Road, London EC1M 3AP, on July 13, 2005, these
Resolutions were duly passed as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that S
P Holgate and B J Hamblin, of PKF (UK) LLP, Farringdon Place, 20
Farringdon Road, London EC1M 3AP, be and they are hereby
appointed Joint Liquidators for the purposes of such winding-up
and that they are empowered to act jointly and severally in all
matters."

A. Simpson, Director

CONTACT:  PKF
          Farringdon Place,
          20 Farringdon Road, London EC1M 3AP
          Phone: 020 7065 0000
          Fax:   020 7065 0650
          E-mail: info.london@uk.pkf.com
          Web site: http://www.pkf.co.uk


STORE 4 LIMITED: In Liquidation
-------------------------------
At an Extraordinary General Meeting of Store 4 Limited, duly
convened, and held at The Goddard Arms Hotel, High Street, Old
Town, Swindon SN1 3EB, on July 14, 2005, these Resolutions were
passed as an Extraordinary Resolution and as an Ordinary
Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
this Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be would up, and
that the Company be wound up accordingly, and that Robert
Cooksey, of Bridgestones, 125-127 Union Street, Oldham OL1 1TE,
be and is hereby appointed as Liquidator of the Company for the
purposes of such winding-up."

At a Meeting of Creditors held on the same date at the same
location the above Resolutions were ratified by Creditors and the
appointment as Liquidator of Robert Cooksey, of Bridgestones,
125-127 Union Street, Oldham OL1 1TE was confirmed.

S De La Mare, Chairman

CONTACT:  BRIDGESTONES
          125-127 Union Street
          Oldham
          Lancashire OL1 1TE
          Phone: 0161 785 3700
          Fax: 0161 785 3701
          E-mail: rlc@bridgestones.co.uk


SUNHAND LIMITED: Winding-up Gets Green Light
--------------------------------------------
Company Name: Sunhand Limited
              24 Grays Inn Road,
              London, WC1X 8HP

Court: Bristol District Registry

Date of Filing Petition: June 1, 2005

No. of Matter: 2285 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


SWINTON TANNING: Calls in Liquidator
------------------------------------
At an Extraordinary General Meeting of the Members of Swinton
Tanning Centre Limited, duly convened, and held at 20 Winmarleigh
Street, Warrington, Cheshire WA1 1JY, on July 15, 2005, this
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Robert W. Keating, of R W Keating & Co, 20 Winmarleigh Street,
Warrington, Cheshire WA1 1JY, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

N. King, Director

CONTACT:  R. W. KEATING & CO.
          2nd Floor
          20 Winmarleigh Street
          Warrington
          Cheshire WA1 1JY
          Phone: 01925 245004
          Fax: 01925 245357
          E-mail: robert@rwkeating.fsnet.co.uk


THOMAS CORK: Names Begbies Liquidator
-------------------------------------
At an Extraordinary General Meeting of the Members of Thomas Cork
International Limited and Thomas Cork SM Limited, duly convened,
and held at Regus, 68 Lombard Street, London EC3V 9LJ, on July
12, 2005, these Resolutions were duly passed as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Companies cannot, by reason of their liabilities, continue
their businesses, and that it is advisable to wind up the same,
and accordingly that the Companies be wound up voluntarily, and
that Christopher Morris and Paul Michael Davis, of Begbies
Traynor (South) LLP, 32 Cornhill, London EC3V 3BT, be and hereby
are appointed Joint Liquidators of the Companies for the purpose
of the voluntary winding-ups, and any act required or authorized
under any enactment to be done may be done by any one or more
persons holding the office of Liquidator from time to time."

P. Callaghan, Chairman

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


TIME-TEES CARS: Liquidators from Tenon Recovery Move in
-------------------------------------------------------
At an Extraordinary General Meeting of the Members of Time-Tees
Cars Limited, duly convened, and held at Salisbury House, 31
Finsbury Circus, London EC2M 5SQ, on July 14, 2005, these
Resolutions were duly passed as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Nigel Ian Fox and Carl Stuart Jackson, of Tenon Recovery,
Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire
SO53 3TZ, be and they are hereby appointed Joint Liquidators for
the purposes of such winding-up."

S. Chick, Chairman

CONTACT:  TENON RECOVERY
          Highfield Court, Tollgate, Chandlers Ford,
          Eastleigh, Hampshire SO53 3TZ
          Phone: 023 8064 6464
          Fax: 023 8064 6666
          E-mail: southampton@tenongroup.com
          Web site: http://www.tenongroup.com


TITHERINGTONS LIMITED: Appoints Grant Thornton Liquidator
---------------------------------------------------------
At an Extraordinary General Meeting of Titheringtons Limited,
convened and held at Grant Thornton U.K. LLP, Heron House, Albert
Square, Manchester M60 8GT, on Thursday July 14, 2005, at 10:30
a.m., these Resolutions were passed as an Extraordinary
Resolution and an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Leslie Ross, of Grant Thornton U.K. LLP, Heron House, Albert
Square, Manchester M60 8GT, be appointed Liquidator of the
Company for the purposes of the voluntary winding-up."

H. Sharma, Chairman

CONTACT:  GRANT THORNTON
          Heron House, Albert Square
          MANCHESTER M60 8GT
          Phone: 0161 834 5414
          Fax: 0161 832 6042
          Web site: http://www.grant-thornton.co.uk


T & L BULK: In Voluntary Liquidation
------------------------------------
At an Extraordinary General Meeting of T & L Bulk Waste Limited,
duly convened, and held at Verna House, 9 Bicester Road,
Aylesbury, Buckinghamshire, on July 15, 2005, the subjoined
Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
John Michael Munn and Joseph Gordon Maurice Sadler, of Elwell
Watchorn & Saxton LLP, 109 Swan Street, Sileby, Leicestershire
LE12 7NN, be and are hereby appointed Joint Liquidators for the
purposes of such winding-up."

T. E. Chandler, Director

CONTACT:  ELWELL WATCHORN & SAXTON
          109 Swan Street,
          Sileby, Leicestershire, LE12 7NN
          Phone: (+44) 01509 815150
          Fax: (+44) 01509 815121
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


UNIMET LLC: Gears up for Liquidation
------------------------------------
Company Name: UNIMET (LLC) LIMITED
              LLC Managers Limited,
              Roman House, 296 Golders Green Road,
              London, Nw11 9PT

Registration Number: FC022558

Court: Bristol District Registry

Date of Filing Petition: June 1, 2005

No. of Matter: 2284 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          21 Bloomsbury Street,
          London, WC1B 3SS
          Phone: 020 7637 1110
          Fax: 020 7637 6390


WEST COUNTRY: Calls in Liquidators from Begbies
-----------------------------------------------
At an Extraordinary General Meeting of the Members of West
Country Bonding Limited, duly convened, and held at 58 Queen
Square, Bristol BS1 4LF, on July 11, 2005, these Resolutions were
duly passed as an Extraordinary Resolution and as an Ordinary
Resolution respectively:

"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Simon Robert Haskew and Ian Edward Walker, of Begbies Traynor, 58
Queen Square, Bristol BS1 4LF, be and hereby are appointed Joint
Liquidators of the Company for the purpose of the voluntary
winding-up, and any act required or authorized under any
enactment to be done may be done by any one or more persons
holding the office of Liquidator from time to time."

A. Coles, Chairman

CONTACT:  BEGBIES TRAYNOR
          58 Queen Square,
          Bristol BS1 4LF
          Phone: 0117 929 4800
          Fax:   0117 922 0114
          Web site: http://www.begbies.com


                            *********


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

Troubled Company Reporter -- Europe is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe,
Julybien Atadero and Jay Malaga, Editors.

Copyright 2005.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$575 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each. For subscription information,
contact Christopher Beard at 240/629-3300.


                 * * * End of Transmission * * *