TCREUR_Public/050816.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Tuesday, August 16, 2005, Vol. 6, No. 161

                            Headlines

G E R M A N Y

AKADEMIE DES DRK: Gottingen Court Calls in Administrator
DAIMLERCHRYSLER AG: Chrysler COO to Inherit Zetsche's Post
DAIMLERCHRYSLER AG: No Takers for Mercedes' Top Job
ETG LOGISTICS: Proofs of Claim Due Next Month
GATZWEILER AUTO: Car Service Firm Falls into Bankruptcy

GPC BIOTECH: First-half Net Loss Up 75% to EUR28.5 Million
KST-BAU: Court to Verify Claims October
MENZEL-BAU: Under Bankruptcy Administration
PROSIEBENSAT.1 MEDIA: Finds Springer Offer Unattractive
RELAX SYNERGIEHAUS: Creditors' Claims Due September

THERMO SPEED: Bonn Court Appoints Administrator
THYSSENKRUPP AG: Sales Up 12%; Income Reaches EUR529 Million
TOZ SERVICE: Creditors' Claims Due Next Week
WCM GROUP: Consolidated Net Profit Returns to Black in H1


H U N G A R Y

MAGYAR TELECOM: Moody's Ups Corporate Family Rating to B1


I T A L Y

PARMA AC: Sells Parma Football Club to Inversiones Renfisa
PARMALAT FINANZIARIA: Ex-BofA Exec Squeals


L U X E M B O U R G

THIEL LOGISTIK: Unit's Troubles to Weigh down Full-year Results


N E T H E R L A N D S

ROYAL SHELL: Buys back Additional 1.8 Million Shares


N O R W A Y

PAN FISH: Moves Release of Q2 Report to August 26


P O L A N D

POLISH OIL: Unions Want Firm to Cut Supply to 16 Debtors
POZMEAT: Administrator Sues BRE Bank to Recover PLN100 Million


R U S S I A

AMUR-OIL-MARKET: Deadline for Proofs of Claim Today
BELGORODSKOYE: Declared Insolvent
DAL-TEPLO-ISOLATION: Hires Insolvency Manager from Khabarovsk
DENIKS-STROY: Bankruptcy Hearing Set Last Week of August
EVRAZ GROUP: Buys 75% of Palini e Bertoli

NEW WORLD-PACIFIC: Deadline for Proofs of Claim Today
OAO GAZPROM: Fitch Upgrades Ratings to 'BB+'
OAO LUKOIL: Imports to Compensate for Odesa Closure
OBOYANSKAYA MTS: Bankruptcy Supervision Procedure Begins
OSTROVSKIY FOOD: Creditors Opt for Liquidation

PSKOV-BRICK: Creditors Have Until Today to File Claims
SVOBODNYJ-GAS: Declared Insolvent
TIKHOOKEANSKOYE ENTERPRISE: Succumbs to Bankruptcy
YUKOS OIL: Judge Clark Approves Societe Generale Agreement


U K R A I N E

ABRIS: Zaporizhya Court Opens Bankruptcy Proceedings
AGROFIRM AGRO: Bankruptcy Supervision Starts
BORIVSKA RAJAGROHIMIYA: Under Bankruptcy Supervision
BROSHNIV: Court Appoints Temporary Insolvency Manager
CHORNOMORSKE REPAIR-TRANSPORT: Declared Insolvent

MAKSI-PLUS: Falls into Bankruptcy
OBLPALIVO: Succumbs to Bankruptcy
SLAVUTICH-A: Insolvency Manager Takes over Helm
SPECTEHAGROSERVICE: Applies for Bankruptcy Proceedings
TRI ELL: Bankruptcy Proceedings Opened on Account of Insolvency


U N I T E D   K I N G D O M

4 ACTION SPORTS: Gears up for Liquidation
A D DAVIES: Winding-up Gets Court Approval
AJS CONSTRUCTION: Names Vantis Liquidator
A K & Y: Court Says Yes to Liquidation
ALEXANDRA PLASTICS: EGM Passes Winding-up Resolutions

ARIS UK: Appoints Liquidator
ARTISAN BUSINESS: In Voluntary Winding-up
ASHKEY LIMITED: Members Opt for Liquidation
AURORA WIRELESS: Appoints Vantis Liquidator
AVIONICS: Airport Service Provider Files for Administration

BRAID-TEX LIMITED: EGM Passes Winding-up Resolutions
CABLE & WIRELESS: Confirms Takeover Plans for Energis
CAMERO VENTURES: Calls in Liquidator
CARE-FULL CLEANING: In Liquidation
COLNETT BUILDING: Liquidator Moves in

COMPLETE MANAGEMENT: Members Call in Liquidator
COSTAIN GROUP: Wins Major Environmental Project
DGK JEWEL: Names Begbies Traynor Liquidator
DUNBAR GROUP: Liquidators from Begbies Move in
ENERGIS PLC: THUS Group Outbids Cable & Wireless

FAST FRAME: Administrators from PKF Enter Firm
FINANCIAL CONSULTANCY: Crumbles to Liquidation
FIRST CHOICE: In Voluntary Liquidation
INCHCAPE CROYDON: Liquidators from Mazars Move in
INDEPENDENT BUILDING: In Administrative Receivership

ITALIAN FURNITURE: Goes into Liquidation
JN GOLF: Members Appoint Liquidator
JPK SERVICES: Calls in Joint Liquidators
LUDGATE 259: In Voluntary Liquidation
LONDON CITYLINK: DTI Orders Winding-up of Sister Companies

MASTERPAY MANAGEMENT: Creditors Meeting Set Thursday
MAYDAY GROUP: Recruitment Company Calls in Administrator
MEDIA PRINTING: Calls in Administrators from Vantis Business
MOBILE SECURITY: Members Resolve to Liquidate Biz
NAM RETAIL: Recruitment Agency Hires Administrators from KPMG

NICHICON (EUROPE): Names Ernst & Young Liquidator
OCC EUROPE: Bank of Scotland Appoints BDO Stoy Hayward Receiver
0 DEGREES: Winding-up Gets Go Signal
ORION MEDIA: Bank Investments Appoints PwC Receiver
PREMIER CHAUFFEUR: Calls in Liquidator

PRIMARY SYSTEMS: Meeting of Creditors Set End of August
READCO 299: Holding Company Hires Administrators from PwC
RED LETTER: Names Kroll Limited Administrator
SABRE ACCESS: Appoints Leonard Curtis Liquidator
SAMMON PUBLISHING: Liquidator from Harris Lipman Moves in

SANTOS LEATHER: Appoints Begbies Traynor Liquidator
S C DIGITAL: Administrators from Tenon Recovery Move in
SCOTTISH EAGLE: Creditors Meeting Set Next Month
SHIRAZ.CO.UK LIMITED: Members Opt for Winding-up
SILVERSTONE PERFORMANCE: In Liquidation

SOLOMON CONSTRUCTION: Winds up Voluntarily
SPARKHOME LTD.: Winds up Under Court Order
STEELRAY NO.228: Files for Liquidation
STRAPSHAW LIMITED: Names Baker Tilly Liquidator
SUNRULE LIMITED: In Voluntary Winding-up

SUSAN HAMILTON: Appoints Berg Kaprow Lewis Administrator
SUTTON FLOORING: Court Approves Liquidation
THE WINE: Appoints The P&A Partnership Liquidator
THREE IN ELEVEN: Court Okays Liquidation
TSCP LTD.: Opts for Liquidation

TWINLAB CORPORATION: Court Refuses to Stay Confirmed Plan
TWINSTAR SERVICES: Winds up Voluntarily
ULTRA-BYTE SOLUTIONS: Runs out of Cash; Applies for Liquidation
UNITEC SERVICES: Goes into Liquidation
UNIVERSAL ENGINEERING: Sets Creditors Meeting Next Week

WESSEX ELECTRONICS: Hires Administrators from Harrison
WHERE'S THE PARTY: Calls in Joint Liquidators
WILSON PROPERTIES: Winding-up Petition Gets Go-ahead

* Large Companies with Insolvent Balance Sheets


                            *********


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


AKADEMIE DES DRK: Gottingen Court Calls in Administrator
--------------------------------------------------------
The district court of Gottingen opened bankruptcy proceedings
against Akademie des DRK e.V. on July 1.  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 Burghard
Wegener.

Creditors and other interested parties are encouraged to attend
the meeting on September 20, 2005, 9:30 a.m. at the district
court of Gottingen, Saal B 8, Berliner Strasse 8, 37073
Gottingen, 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:  AKADEMIE DES DRK e.V.
          Reinhauser Landstr. 26, 37085 Gottingen
          Contact:
          Brigitte Wettengel

          Burghard Wegener, Administrator
          Obere Karspuele 36, D-37073 Gottingen
          Phone: 0551/5085920
          Fax: 5085921


DAIMLERCHRYSLER AG: Chrysler COO to Inherit Zetsche's Post
----------------------------------------------------------
Chrysler's current chief operating officer will replace president
and Chief Dieter Zetsche by January, said the Associated Press.

Tom LaSorda, 51, will take over the top post at Chrysler, as Mr.
Zetsche returns to Germany as head of DaimlerChrysler AG.  The
appointment came almost six years after Mr. LaSorda joined the
company and contributed to improve productivity.

Mr. LaSorda, who spent 23 years at General Motors Corp., has
helped increase manufacturing productivity at Chrysler by nearly
20%.

He said: "With every second you've lost productivity. If you take
a cycle time of 60 seconds and someone is walking for six
seconds, that's 10 percent lost productivity."

Mr. LaSorda, whose father and grandfather were once Chrysler
union leaders in Windsor, Ontario, noted his background would
surely influence his leadership style.

He added: "I'm here to run a company, and the ultimate
decision-makers are the shareholders.  But the other side of the
coin is the ultimate thing that will make us successful is the
people, so we've got to do whatever we can to help them."

Mr. LaSorda also eyes to continue what has been started by Mr.
Zetsche, who made the company profitable again after cutbacks in
1999.

Meanwhile, Michael Robinet, vice president of consultancy CSM
Worldwide, stressed that assigning local people like LaSorda to
top positions at Chrysler will boost further the firm's
confidence.

He said: "Tom LaSorda, who's more of a nuts and bolts type of
guy, needs to take it to the next level and set Chrysler up for
the next decade."

Mr. LaSorda will reportedly prioritize Chrysler's relationships
with suppliers, following his brainchild: awarding suppliers
longer contracts and involving them in the vehicle development
process.  He also wants to improve the company's health care
department.

Earlier this month, Chrysler Group, which consists of the
Chrysler, Jeep(R) and Dodge brands, posted sales of 240,146
vehicles in the U.S., an increase of 27%.  Adjusted for one fewer
selling day in July 2005 compared to July 2004, sales actually
rose 32%.

After launching a record nine new models in 2004, the Chrysler
Group is launching several new models in 2005, including the
all-new 2006 Jeep Commander.  In June, the company started
shipping to dealers the all-new 2006 Dodge Charger, which has
received enthusiastic feedback from the media and great
anticipation among consumers.

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


DAIMLERCHRYSLER AG: No Takers for Mercedes' Top Job
---------------------------------------------------
Bosses from major car companies are reportedly reluctant to join
DaimlerChrysler AG, says Handelsblatt.

General Motors Corp.'s European chief, Carl-Peter Forster,
Volkswagen AG's Wolfgang Bernhard and Linde AG Chief Executive
Wolfgang Reitzle have reportedly expressed unwillingness to head
the struggling company.  This makes it difficult for Chief
Executive designate Dieter Zetsche to find a new head for the
Mercedes Car group, after Eckhard Cordes offered to resign
earlier this month.

Mr. Cordes' decision followed the disclosure that Mr. Zetsche
would replace Juergen Schremmp 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.

Mercedes marketing manager Klaus Meier is reportedly the
favorite to replace Mr. Cordes.

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


ETG LOGISTICS: Proofs of Claim Due Next Month
---------------------------------------------
The district court of Essen opened bankruptcy proceedings against
ETG Logistics (Germany) GmbH on July 25.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 13, 2005 to register
their claims with court-appointed provisional administrator
Volker Bohns.

Creditors and other interested parties are encouraged to attend
the meeting on September 21, 2005, 1:40 p.m. at the district
court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  ETG LOGISTICS (GERMANY) GmbH
          Fersenbruch 68, 45883 Gelsenkirchen
          Contact:
          Kerstin Faustmann, Manager

          Volker Bohns, Administrator
          von-Oven-Str. 12-16, 45879 Gelsenkirchen
          Phone: 0209/14747-37
          Fax: 1474739


GATZWEILER AUTO: Car Service Firm Falls into Bankruptcy
-------------------------------------------------------
The district court of Muenster opened bankruptcy proceedings
against Gatzweiler Auto-Service GmbH on July 22.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until September 30, 2005 to
register their claims with court-appointed provisional
administrator Holger Zbick.

Creditors and other interested parties are encouraged to attend
the meeting on October 17, 2005, 9:00 a.m. at the district court
of Muenster, Gebaudeteil Eingang B, Gerichtsstrasse 2 - 6, 48149
Muenster, EG, Saal 13 B, 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:  GATZWEILER AUTO-SERVICE GmbH
          Druffels Weg 91, 48653 Coesfeld
          Contact:
          Marion Haupt-Gatzweiler, Manager
          Freihof 51, 46569 Huenxe

          Holger Zbick, Administrator
          Marktplatz 2/4, 48712 Gescher
          Phone: 02542/9178-0
          Fax: +492542917829


GPC BIOTECH: First-half Net Loss Up 75% to EUR28.5 Million
----------------------------------------------------------
GPC Biotech AG reported financial results for the second quarter
and first six months ended June 30, 2005.

Quarter over quarter results: second quarter 2005 compared to
first quarter 2005

Revenues for the second quarter of 2005 increased 32% to EUR2.5
million compared to EUR1.9 million for the previous quarter.
Research and development (R&D) expenses increased 24% to EUR14.0
million for the second quarter of 2005 compared to EUR11.2
million for the first quarter of 2005.  General and
administrative (G&A) expenses for the second quarter of 2005
increased 69% to EUR6.6 million compared to EUR3.9 million for
the previous quarter.

The increase in G&A expenses during the second quarter of 2005
was mainly due to a non-cash charge of EUR2.8 million related to
a contractual loss on a sublease. Excluding this charge, the
Company's pro forma net loss was -EUR13.3 million in the second
quarter of 2005, an increase of 6% compared to -EUR12.5 million
net loss for the previous quarter.  Inclusive of this charge, the
Company's net loss increased 28% to -EUR16.0 million for the
second quarter of 2005 compared to the previous quarter.  Basic
and diluted loss per share was -EUR0.53 for the second quarter of
2005 compared to -EUR0.43 for the previous quarter.  Figures
related to the acquisition of the assets of Axxima
Pharmaceuticals are subject to change.

Comparison to previous year: Second quarter 2005 compared to
second quarter 2004

Revenues for the three months ended June 30, 2005 decreased 4% to
EUR2.5 million compared to EUR2.6 million for the same period in
2004.  Research and development (R&D) expenses increased 46% for
the second quarter of 2005 to EUR14.0 million compared to EUR9.6
million for the same period in 2004.  The increase for the second
quarter 2005 was mainly due to increased drug development
activities, including the continued ramp-up of patient enrollment
in the satraplatin SPARC Phase 3 registrational trial.

General and administrative (G&A) expenses for the second quarter
of 2005 increased 128% to EUR6.6 million compared to EUR2.9
million for the same quarter in 2004.  The increase in G&A
expenses during the second quarter of 2005 was mainly due to a
non-cash charge of EUR2.8 million related to a contractual loss
on a sublease.  Non-cash charges for stock options and
convertible bonds, which are included in R&D and G&A expenses,
were EUR1.7 million for the second quarter of 2005 compared to
EUR0.6 million for the same period in 2004.  Excluding the
non-cash charge related to the sublease contract of EUR2.8
million, the Company's pro forma net loss was -EUR13.3 million
for the second quarter of 2005, an increase of 42% compared
to -EUR9.3 million net loss for the same period in 2004.
Inclusive of this charge, net loss increased 71% to -EUR16.0
million compared to the second quarter of 2004.  Basic and
diluted loss per share was -EUR0.53 for the second quarter of
2005 compared to
-EUR0.43 for the same period in 2004.

First six months of 2005 compared to first six months of 2004:

Revenues decreased 33% to EUR4.4 million for the six months ended
June 30, 2005, compared to EUR6.6 million for the same period in
2004.  Research and development (R&D) expenses increased 38% to
EUR25.2 million for the first six months of 2005 compared to
EUR18.3 million for the same period in 2004.  The increase was
mainly due to increased drug development activities, including
the continued ramp-up of patient enrollment in the satraplatin
SPARC Phase 3 registrational trial.

In the first six months of 2005, general and administrative (G&A)
expenses increased 88% to EUR10.5 million compared to EUR5.6
million for the first six months of 2004.  Non-cash charges for
stock options and convertible bonds, which are included in R&D
and G&A expenses, were EUR3.5 million for the first six months of
2005 compared to EUR1.0 million for the same period in 2004.
Excluding the non-cash charge related to the contractual loss on
a sublease of EUR2.8 million, the Company's pro forma net loss
was -EUR25.8 million for the first half of 2005, an increase of
58% compared to -EUR16.3 million net loss for the same period in
2004.  Inclusive of this charge, net loss increased 75%
to -EUR28.5 million compared to the first half of 2004.  Basic
and diluted loss per share was -EUR0.96 compared to -EUR0.76 for
the same period in 2004.

As of June 30, 2005, cash, cash equivalents, short-term
investments and marketable securities totaled EUR121.6 million
(December 31, 2004: EUR131.0 million), including EUR1.5 million
in restricted cash.  The net cash burn was EUR23.6 million for
the first six months of 2005.  Net cash burn is derived by adding
net cash used in operating activities (EUR20.3 million) and
purchases of property, equipment and licenses (EUR3.3 million).
The figures used to calculate net cash burn are contained in the
Company's unaudited consolidated statements of cash flows for the
six-month period ended June 30, 2005.  Net cash burn was EUR11.9
million for the second quarter of 2005 and EUR11.6 million for
the first quarter of 2005.

"Our financial results continue to reflect our expanding efforts
to successfully develop our anticancer drug candidates and
broaden their potential," said Mirko Scherer, Ph.D., Senior Vice
President and Chief Financial Officer.  "In particular, we are
driving patient recruitment in the SPARC Phase 3 trial and
continuing our work to initiate additional exploratory studies
with our lead compound, satraplatin."

"I am excited about the progress we have made over the past
several months to move our oncology drug programs forward," said
Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer.  "The
satraplatin SPARC trial continues to be one of the fastest
accruing large randomized Phase 3 trials for chemotherapy drugs
in prostate cancer.  There were 700 patients enrolled in this
study as of July 28, 2005, keeping us on track to complete
enrollment by the end of this year.  I am also pleased that we
were able to open for accrual another satraplatin study - a Phase
1 combination trial with TAXOTERE(R) in advanced solid tumors.
This study is one of a number of clinical trials we are planning
to initiate as part of our strategy to broadly explore the
potential of satraplatin in combination with other anticancer
therapies and for the treatment of other cancers beyond the
initial indication of second-line hormone-refractory prostate
cancer."

Dr. Seizinger continued: "We have also had several recent
achievements with our second clinical program -- the anticancer
antibody 1D09C3: We have recently received clearance from the
national regulatory authorities and local ethics committee to
open a second clinical site in our ongoing Phase 1 study.  The
new site is the Istituto Nazionale dei Tumori, a major oncology
center in Italy under the direction of leading oncology expert,
Prof. Alessandro M. Gianni.  In addition, the antibody was
granted orphan drug designation in the European Union for Hodgkin
's lymphoma.  I look forward to reporting on additional
accomplishments at GPC Biotech in the second half of the year."

Highlights from the second quarter of 2005 and beyond:

(a) Lead anticancer drug candidate, satraplatin

     (i) The SPARC registrational trial remains one of the
         fastest accruing, large randomized Phase 3 trials for
         chemotherapy drugs in prostate cancer.  700 patients
         had been accrued to the trial as of July 28, 2005;

    (ii) Phase 1 study in combination with TAXOTERE in advanced
         solid tumors opened for accrual;

   (iii) The Independent Data Monitoring Board for the SPARC
         registrational trial held its second review of safety
         data from the ongoing study.  The Board reported that
         the design and conduct of the trial remained sound and
         recommended that the trial continue as planned; and

    (iv) In vitro data presented at the 2005 Annual Meeting of
         the American Association for Cancer Research (AACR)
         indicate that satraplatin remains active in drug-
         resistant tumor cells pre-treated with other commonly
         used cancer drugs.  Also, a synergistic response was
         demonstrated in prostate cancer cells treated
         sequentially with TAXOTERE and satraplatin; and

(b) Second clinical program, 1D09C3 anticancer monoclonal
    antibody

     (i) Clearance received from the national regulatory
         authorities and local ethics committee to open second
         clinical site in Phase 1 study in relapsed/refractory
         B-cell lymphomas.  The new site is the Istituto
         Nazionale dei Tumori in Milan, Italy under the
         direction of leading clinical oncology expert, Prof.
         Alessandro M. Gianni, Head of the Leukemia and Lymphoma
         Department, Milan Cancer Center, and Full Professor in
         Medical Oncology, University of Milan;

    (ii) European Medicines Agency (EMEA) granted orphan
         medicinal product designation for the treatment of
         Hodgkin's lymphoma; and

   (iii) Pre-clinical in vivo data presented at the 9th
         International Conference on Malignant Lymphoma
         demonstrate that 1D09C3 appears to show improved
         efficacy if treatment intervals are increased up to
         seven days, indicating that the antibody may not need
         to be continuously present in the bloodstream to
         achieve its cell-killing effect.

GPC Biotech AG (Frankfurt Stock Exchange: GPC; TecDAX 30; NASDAQ:
GPCB) is a biopharmaceutical company discovering and developing
new anticancer drugs.  The Company's lead product candidate --
satraplatin -- is currently in a Phase 3 registrational trial as
a second-line chemotherapy treatment in hormone-refractory
prostate cancer following successful completion of a Special
Protocol Assessment by the U.S. FDA and receipt of a Scientific
Advice letter from the European central regulatory authority,
EMEA.  The FDA has also granted fast track designation to
satraplatin for this indication.

Satraplatin was in-licensed from Spectrum Pharmaceuticals, Inc.
Other anticancer programs include: a monoclonal antibody with a
novel mechanism-of-action against a variety of lymphoid tumors,
currently in Phase 1 clinical development, and a small molecule
broad-spectrum cell cycle inhibitors program, currently in
pre-clinical development.  The Company also has a number of drug
discovery programs that leverage its expertise in kinase
inhibitors.  GPC Biotech has a multi-year alliance with ALTANA
Pharma AG working with the ALTANA Research Institute in the U.S.,
which provides GPC Biotech with revenues through mid-2007. GPC
Biotech AG is headquartered in Martinsried/Munich (Germany).

The Company's wholly owned U.S. subsidiary has research and
development sites in Waltham, Massachusetts and Princeton, New
Jersey.  For additional information, please visit
http://www.gpc-biotech.com

The pro forma net loss reported excludes the contractual loss on
a sublease.  GPC Biotech's management believes this pro forma
measure helps indicate underlying trends in the Company's ongoing
operations by excluding this charge that is unrelated to its
ongoing operations.

TAXOTERE(R) (docetaxel) is a registered trademark of the
sanofi-aventis group.

The report, including financial tables is available free of
charge at http://bankrupt.com/misc/GPC_Biotech(H12005).pdf

CONTACT:  GPC BIOTECH AG
          Fraunhoferstr. 20
          82152 Martinsried/Munich, Germany

          Martin Braendle
          Associate Director, Investor Relations,
          Corporate Communications
          Phone: +49 (0)89 8565-2693
          E-mail: ir@gpc-biotech.com

          In the U.S.:
          Laurie Doyle
          Associate Director, Investor Relations,
          Corporate Communications
          Phone: +1 781 890 9007 X267
          E-mail: usinvestors@gpc-biotech.com


          Additional Media Contacts:
          In Europe:
          Maitland Noonan Russo
          Brian Hudspith
          Phone: +44 (0)20 7379 5151
          E-mail: bhudspith@maitland.co.uk

          In the U.S.:
          Euro RSCG Life NRP
          Emily Poe
          Phone: +1 212 845 4266
          E-mail: emily.poe@eurorscg.com


KST-BAU: Court to Verify Claims October
---------------------------------------
The district court of Koln opened bankruptcy proceedings against
KST-Bau GmbH on July 13.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until September 12, 2005 to register their claims with
court-appointed provisional administrator Karl-Dieter Sommerfeld.

Creditors and other interested parties are encouraged to attend
the meeting on October 12, 2005, 9:00 a.m. at the district court
of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln, 12.
Etage, Raum 1240, 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:  KST-BAU GmbH
          Refrather Weg 34, 51469 Bergisch Gladbach
          Contact:
          Werner Kraus, Manager
          Jan-Daniel Fischer, Manager

          Karl-Dieter Sommerfeld, Administrator
          Hammerweg 3, 51766 Engelskirchen


MENZEL-BAU: Under Bankruptcy Administration
-------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Menzel-Bau GmbH on July 18.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until October 14, 2005 to
register their claims with court-appointed provisional
administrator Rolf Nacke.

Creditors and other interested parties are encouraged to attend
the meeting on August 29, 2005, 9:25 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report on December 12,
2005, 9:10 a.m. at the same venue.

CONTACT:  MENZEL-BAU GmbH
          An der Wuhlheide 239,12459 Berlin

          Rolf Nacke, Administrator
          Gross-Berliner Damm 73 c, 12487 Berlin


PROSIEBENSAT.1 MEDIA: Finds Springer Offer Unattractive
-------------------------------------------------------
U.S. investment group Hellman & Friedman plans to back Axel
Springer Verlag's bid to merge with ProSiebenSat.1 Media,
Handelsblatt says.

Hellman & Friedman, which owns 19.4% of Springer, is reportedly
willing to put up part of the EUR1.2 billion to buy out the
preference shareholders of ProSiebenSat.1.  Alternatively, these
shareholders are also being offered preference shares in
Springer.  The paper says ProSiebenSat.1's owners see both offers
as unattractive.

According to Handelsblatt, Hellman also plans to participate in a
capital increase following the merger and is thinking of spending
up to EUR300 million for this.

Springer held talks with ProSiebenSat.1's major shareholders on
August 3.  A deal must be concluded before March 2006 to avoid
violating an agreement with the insolvency administrator of
Kirch, ProSiebenSat.1's former owner.

ProSiebenSat.1 Media AG was formed in 2000 following the merger
of Germany's leading broadcasters, ProSieben Media AG and Sat.1.
It is the largest and most successful television corporation with
four stations -- Sat.1, ProSieben, kabel eins and N24.

CONTACT:  PROSIEBENSAT.1 MEDIA AG
          Medienallee 7
          85774 Unterfohring
          Phone: +49 [89] 95 07-11 80
          Fax: +49 [89] 95 07-11 84


RELAX SYNERGIEHAUS: Creditors' Claims Due September
---------------------------------------------------
The district court of Hannover opened bankruptcy proceedings
against Relax Synergiehaus GmbH on July 18.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 7, 2005 to register their
claims with court-appointed provisional administrator Gerhard
Wilhelm IV.

Creditors and other interested parties are encouraged to attend
the meeting on October 10, 2005, 8:00 a.m. at the district court
of Hannover, Saal 226, 2. Obergeschoss, Dienstgebaude Hamburger
Allee 26, 30161 Hannover, 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:  RELAX SYNERGIEHAUS GmbH
          Deveser Str. 36, 30457 Hannover
          Contact:
          Harry Leonhardt-Wagenknecht, Manager
          Oldekopstr. 40, 30659 Hannover

          Gerhard Wilhelm IV, Administrator
          Oskar-Winter-Str. 8, 30161 Hannover
          Phone: 0511/696846-0
          Fax: 0511/696846-79


THERMO SPEED: Bonn Court Appoints Administrator
-----------------------------------------------
The district court of Bonn opened bankruptcy proceedings against
Thermo Speed Innovation GmbH on July 22.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 11, 2005 to register
their claims with court-appointed provisional administrator Dirk
Obermueller.

Creditors and other interested parties are encouraged to attend
the meeting on October 13, 2005, 9:15 a.m. at the district court
of Bonn, Insolvenzgericht-, Wilhelmstrasse 21, 53111 Bonn, 1.
Stock, Saal W126, 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:  THERMO SPEED INNOVATION GmbH
          Heideweg 20, 53604 Bad Honnef
          Contact:
          Norbert Lamsfuss, Manager
          Erzstrasse 21, 53604 Bad Honnef
          Dirk Jan van den Berg, Manager
          Eifelallee 7, 50858 Koln

          Dirk Obermueller, Administrator
          Godesberger Allee 125-127, 53175 Bonn
          Phone: 81 000 45
          Fax: 81000820


THYSSENKRUPP AG: Sales Up 12%; Income Reaches EUR529 Million
------------------------------------------------------------
Despite a more difficult market environment, ThyssenKrupp AG
continued to hold up well in the 3rd quarter 2004/2005.

Sales increased by 12%.  The Group's income from continuing
operations before taxes and minority interest reached EUR529
million.  Earnings for the first nine months of the fiscal year
amounted to EUR1,454 million, compared with EUR1,069 million a
year earlier.

Highlights:

(a) order intake from continuing operations increased to EUR10.6
    billion, 7% higher than the same quarter a year earlier.
    Orders in the first nine months of the fiscal year were
    EUR32.1 billion (previous year EUR29.1 billion), 10%
    higher than a year earlier;

(b) sales were up 12% at EUR11.3 billion.  Sales in the first
    nine months climbed 14% from EUR27.6 billion to EUR31.5
    billion;

(c) income from continuing operations before taxes and minority
    interest amounted to EUR529 million.  This figure includes a
    EUR28 million impairment loss in the Automotive segment.
    Twelve months previously the figure stood at EUR537 million.
    In the first nine months EBT increased from EUR1,069 million
    to EUR1,454 million;

(d) earnings per share from continuing operations reached
    EUR0.59, compared with EUR0.61 a year earlier.  For the
    first nine months, earnings per share increased from EUR1.26
    to EUR1.66;

(e) net financial payables amounted to EUR1,649 million at June
    30, 2005, EUR1,184 million less than at September 30, 2004
    and EUR2,613 million less than at June 30, 2004.

Executive Board Chairman Prof. Dr. Ekkehard Schulz said: "We
expect the encouraging business performance to continue on the
whole in the further course of the year.  For the full year we
plan sales of just over EUR41 billion.  In terms of earnings
before taxes, excluding the effects of major disposals,
acquisitions and restructuring measures, we aim to achieve around
EUR1,700 million, surpassing the very good level of 2003/2004
(EUR1,470 million)."

As part of the now almost completed 'Divest 33+' program,
ThyssenKrupp has sold the MetalCutting business of ThyssenKrupp
Technologies to an American buyer.

With just under 2,800 employees, MetalCutting generated sales of
around EUR490 million in fiscal year 2003/2004.  The disposal is
subject to the approval of the competent bodies.

A copy of the interim report has been submitted to the U.K.
Listing Authority, and will shortly be available for inspection
at the U.K. Listing Authority's Document Viewing Facility, which
is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
LONDON E14 5HS
Phone: (0)20 7676 1000.

CONTACT:  THYSSENKRUPP AG
          August-Thyssen-Strasse 1
          D-40211 Duesseldorf
          P.O. Box 10 10 10
          Phone: +49 211 824 0
          Fax: +49 211 824 36000
          E-mail: info@thyssenkrupp.com
          Web site: http://www.thyssenkrupp.com


TOZ SERVICE: Creditors' Claims Due Next Week
--------------------------------------------
The district court of Darmstadt opened bankruptcy proceedings
against TOZ Service GmbH on July 20.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until August 23, 2005 to register their claims
with court-appointed provisional administrator Andreas von Romer.

Creditors and other interested parties are encouraged to attend
the meeting on October 5, 2005, 10:00 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:  TOZ SERVICE GmbH
          Konigstadter Str. 99, 65428 Ruesselsheim
          Contact:
          Teyip Ozbay, Manager
          Kreisingstr. 14, 55118 Mainz

          Andreas von Romer, Administrator
          W.-Th.-Romheld-Str. 14, 55130 Mainz
          Phone: 06131/2850-0
          Fax: 06131/2850-28


WCM GROUP: Consolidated Net Profit Returns to Black in H1
---------------------------------------------------------
In the first half of 2005, WCM Beteiligungs- und
Grundbesitz-Aktiengesellschaft (ISIN: DE0007801003) generated an
EBIT of EUR20.3 million (PY: EUR6 million).  Year-on-year EBT,
improved from -EUR6 million to EUR9.4 million.

At EUR1.4 million, consolidated net profit for the period was
considerably up year on year (PY: -EUR9.5 million).  At EUR452,
sales in the reporting year were at the level of the previous
year.

The Group stabilized the financial side.  In the current
financial year, liabilities to banks were reduced by a further
EUR90 million.

On the reporting date of 30 June 2005, the Group employed a total
of 6,345 people, almost unchanged on the previous year.

On its markets, WCM does not see any fundamental turnaround for
the remainder of 2005.  In addition to the operating results
generated from the industrial units, the WCM result will be
materially influenced by the disposal proceeds achieved for the
assets currently available for sale.  In view of the more
cautious expectations on results, a loss which does not exceed
EUR10 million, instead of the targeted break-even result before
taxes, cannot be excluded for the whole of 2005.

The WCM Group is continuing its move to a pure-play industrial
group, with a concentration on Klockner-Werke AG.

The complete interim report is available as a pdf file on our web
side http://www.wcm.deunder Investors and Publications.

About the Company

In the past, WCM operated in the area of buying and selling
listing and undervalued companies and in privatizing property
portfolios.  As is sufficiently well known, last year the company
realigned its business strategy to the changed conditions and
situation on the market.  In December 2004, the Residential
Property division was sold to Blackstone, a financial investor.
In the future, WCM AG will be a pure-play holding company,
primarily holding its stake in Klockner-Werke AG.

The core of Klockner-Werke AG is the Packaging and Filling
division, represented by the KHS Group.  In certain markets, the
KHS Group is already a world leader for planning, constructing
and installing filling and packaging systems for the beverages
and non-beverages industry.  The Group is also made up of
mechanical engineering companies which build special machines for
confectionery, hard rubber parts, injection moulding and shoe
machines as well as robotic systems for plastic machines.  A
further area of the WCM Group is various financial holdings which
are available for sale in the short-to medium term.

CONTACT:  MCM GROUP
          Ms. Maren Moisl
          Phone: +49 (0) 69 90026-510
          Fax: +49 (0) 69 90026-110
          E-mail: presse@wcm.de


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


MAGYAR TELECOM: Moody's Ups Corporate Family Rating to B1
---------------------------------------------------------
Moody's Investors Service upgraded on August 12, 2005 the
corporate family rating of Magyar Telecom B.V. (Matel) to B1 from
B2 and the rating on Matel's EUR140 million senior notes due 2012
to B3 from Caa1.

Moody's has also withdrawn Matel's Caa2 senior unsecured issuer
rating, as part of the rating agency's ongoing project of
withdrawing such ratings for speculative-grade corporate issuers.
Concurrently, Moody's has upgraded the rating on the EUR165
million senior secured bank facility (EUR143 million outstanding)
of Matel's operating subsidiary Invitel Tavkozlesi Szolgaltato
Rt. (Invitel or the company) to Ba3 from B1.  The outlook on all
ratings is stable.

The upgrades reflect:

(a) The management team's established track record of
    successfully reducing costs and increasing EBITDA margins
    which peaked at 46.5% in Q1 2005 from 39.3% in 2003;

(b) The robust growth in subscriber numbers and revenue recorded
    by the company's Mass Market Internet segment, which helped
    to offset a decline in revenues from the Mass Market Voice
    segment in Invitel's concession areas;

(c) The company's ability to generate positive free cash flow, a
    reversal of the negative cash flow generation in 2003; and

(d) Invitel's modest de-leveraging through partial pre-payments
    of its senior secured facility and the shareholder loan,
    which resulted in the ratio of Total Debt to EBITDA
    (excluding shareholder loans) falling from 3.6x at the end
    of 2004 to 3.4x at the end of Q2 2005 on a last twelve month
    basis.

However, the ratings continue to reflect:

(a) The continued deterioration in Invitel's revenue from the
    Mass Market Voice segment in the concession areas, largely
    due to the fixed-to-mobile substitution effect;

(b) Vigorous competition, particularly with Matav and Tele2,
    which has recently entered Invitel's concession area; and

(c) Risks associated with future customer uptake and retention
    for its Mass Market Internet segment, which is expected to
    become an increasingly meaningful contributor to Invitel's
    revenue over the medium term.

Moody's notes that Invitel's Q2 financial results show
deterioration in its EBITDA margin to 40.3% from 46.5% in Q1
2005.  This is largely due to increased competitive pressures and
a change in the company's product mix with the lower margin
wholesale business having contributed a more meaningful amount to
the company's revenue.  Moody's however does not expect any
further material deterioration in the company's performance and
takes into account the company's focus on cost efficiency
initiatives.

The stable outlook on the ratings reflects Moody's expectation
that the company will continue to:

(a) Control its costs to support its improved EBITDA generation;

(b) Generate sufficient cash flow to service its bank debt
    amortization requirements; and

(c) Successfully grow its Mass Market Internet business.  The
    rating agency notes that further de-leveraging will continue
    to hinge on the company's pre-payments of its senior secured
    bank facility and shareholder loan subject to the terms and
    conditions of the senior secured bank facility and senior
    notes.

Further upward movement from the B1 rating is currently
constrained by the company's size and competitive dynamics on the
Hungarian market.  Conversely, a material deterioration in
revenue and EBITDA levels caused by competitive pressures on the
market would put a downward pressure on the rating.

The B3 rating on the notes continues to reflect contractual and
structural subordination of the notes to the material amount of
the senior secured bank facility.

Headquartered in Budaors, Hungary, Invitel is the second largest
fixed-line telecommunications provider in Hungary.  For the six
months ending June 30, 2005, the company reported revenues and
EBITDA of approximately EUR92.3 million and EUR40.2 million,
respectively.

CONTACT:  MOODY'S INVESTORS SERVICE LTD. (LONDON)
          Jenya Brown, Analyst
          Corporate Finance Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          David G. Staples, Managing Director
          Corporate Finance Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


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


PARMA AC: Sells Parma Football Club to Inversiones Renfisa
----------------------------------------------------------
Parmalat Finanziaria has agreed to sell Parma Football Club to
Spanish group Inversiones Renfisa SL, AFX News says.

In a statement, subsidiary Parma AC S.p.A. said it had already
received part of the payment for its 100% stake in the club.  The
company promised to reveal more details, including the purchase
price, on September 20.  Former Real Madrid President Lorenzo
Sanz Mancebo heads Inversiones Renfisa.

Like all other subsidiaries, the club also encountered rough seas
when the holding company filed for bankruptcy in December 2003.
Declared insolvent in April 2004, the club was forced to sell
star player Alberto Gilardino to AC Milan for EUR34 million early
this summer.

Set up in 1913, the club won the Coppa Italia (National Cup) in
1991-92, 1998-99 and 2001-02; SuperCoppa Italiana (National
Supercup) in 1999; Winners' Cup in 1992-93; and the UEFA Cup in
1994-95 and 1998-99.

CONTACT:  PARMA FOOTBALL CLUB S.p.A.
          Viale Partigiani d'Italia 1
          43100 Parma
          Phone: +39 0521505111
          Fax: +39 0521505100
          Web site: http://www.fcparma.com

          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


PARMALAT FINANZIARIA: Ex-BofA Exec Squeals
------------------------------------------
Local prosecutors have reportedly unearthed new information on
the US$37.5 million that vanished from Parmalat's accounts, Il
Sole 24 Ore says.

Former Bank of America (BofA) executive Luca Sala has reportedly
revealed the recipients of the amount, which was allegedly
deposited in various foreign bank accounts.  Police arrested Mr.
Sala a few weeks ago on allegations that he tried to hide the
losses of Parmalat's Brazilian unit and gained thousands of
dollars for it.  Parma prosecutor Antonella Ioffredi on Saturday
met with Swiss counterpart Pierluigi Pasi in Lugano to confirm
Mr. Sala's claim that he had deposited the amount in Switzerland.

Mr. Sala is also being accused of defrauding institutional
investors, mostly from the U.S., by hiding Parmalat's true
financial state when he organized private bond placements.

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


===================
L U X E M B O U R G
===================


THIEL LOGISTIK: Unit's Troubles to Weigh down Full-year Results
---------------------------------------------------------------
Thiel Logistik posted a solid performance in the first half year
2005, with significantly increased organic sales and a clearly
positive cash flow again in the second quarter.  The previous
full-year forecast has been lowered due to the impact of costs
from some individual business units.

Sales, Earnings and Cash Flow

Sales of Thiel Logistik AG rose by 4.2% year-on-year to EUR883.5
million (first half year 2004: EUR848.1 million), with organic
growth of 5.1% achieved.  In the second quarter organic sales
growth reached as high as 7.5%.  Expansion in Central and Eastern
Europe along with the expansion of the business in Asia played a
major part in this growth.

At EUR10.3 million, the result before interest and income taxes
(EBIT) was lower than the previous year's EUR13.1 million.  The
main reason for this was a substantial drop in earnings in the
Thiel Furniture business unit.  For the first six months of 2005
the Group posted a negative net result after minorities of
-EUR8.2 million (first half year 2004: - EUR0.5 million).  In
total, a positive operating cash flow of EUR5.3 million (first
half year 2004: EUR25.3 million) was generated in the reporting
period.  After an EUR8.5 million impact on the cash flow in the
first quarter due to a one-off payment as settlement for pension
provisions, cash flow improved in the second quarter by EUR10.8
million.  The free cash flow came to EUR2.4 million (first half
year 2004: EUR18.5 million).

Forecast for the Year Lowered

Against the background of the burdens from the Thiel Furniture
business unit and the continuing weak earnings position at Thiel
Automotive, the previous forecast for the year of a EUR36 million
EBIT is not achievable.  This figure has been revised as a
result.  For fiscal year 2005 Thiel Logistik is now expecting an
EBIT in the range of EUR25 to EUR30 million before impairments of
long-lived assets and goodwill and before restructuring expenses.

Positive result at three Industry Solutions -- substantial
decline at Thiel Furniture

In the Industry Solutions business segment the Group generated
sales of EUR296.5 million in the first half year, thus coming in
at last year's levels (first half year 2004: EUR301 million).  At
EUR0.5 million, the result remained significantly behind the
previous year's level of EUR2.0 million.  Weak results at Thiel
furniture were primarily responsible for this.  By contrast,
despite cyclical impacts and tough economic conditions Thiel
FashionLifestyle succeeded in maintaining sales and gaining more
profit from them.  Thiel Media managed to even increase its
year-on-year sales significantly.  In the second quarter Thiel
Automotive stabilized sales and earnings following a difficult
first quarter.

Substantial increase at Air & Ocean

The Air & Ocean business segment under the lead company Birkart
Globistics put in a very positive performance, with sales of
EUR159.5 million -- an increase of around 12% over comparable
sales of EUR142.1 million generated the previous year.  At EUR4.3
million the result practically doubled (first half year EUR2004:
2.3 euros).  Dynamic growth in traffic between Europe and Asia
was chiefly responsible for this.

Solid Growth in Regional Logistics Services

The Regional Logistics Service Providers increased sales by 5.7%,
from EUR404.3 million to EUR427.5 million.  The decline in the
result from EUR14.1 million in the first half of
2004 to the present EUR11.2 million was primarily due to the sale
of Suedkraft's public transport businesses last year.  Both
Quehenberger and delacher continued to grow, recording sales
increases of 14.1% and 4.3% respectively over the year before.
This was due mainly to business expansion in Central and Eastern
Europe.  Following an even tougher first quarter, Suedkraft
significantly improved sales and earnings in the second quarter.

Management Structure

Unlike a German Supervisory Board, the Board of Directors of a
joint stock company governed by the law of Luxembourg is the
management body of the company.  As Chairman of the Board of
Directors of Thiel Logistik AG, Berndt-Michael Winter has assumed
responsibility -- until the appointment of a new CEO -- for
steering the work of the Executive Board following the
resignation of Dr. Eierhoff as of June 30, 2005.  Dr. Antonius
Wagner, a member of the Board of Directors, is performing the
duties of CFO -- until a new CFO joins the company -- following
the resignation of Mr. Loffler.  The Board of Directors has
extended the appointment of Stefan Delacher as a member of the
Executive Board of Thiel Logistik AG until September 2010.  At
the moment he is responsible on the Executive Board for all the
Thiel Group's logistics operations.

Outlook

As last year, the Thiel Group expects the operating result for
the second half of the year to again increase compared to the
first half of the year.  In view of the lack of capacity
utilization at the Heppenheim warehouse, numerous sales
activities have been initiated aimed at regaining capacity
utilization.  The management is confident this will result in a
positive conclusion.  If, contrary to expectations, utilization
cannot be achieved within the next few months, or if the terms
are unfavorable, then a substantial impairment to the book value
of EUR24.7 million will be advisable, the exact extent of which
will depend on the usage situation at the particular time.

There may be a need to adjust the value of goodwill in the Thiel
Automotive unit due to the loss of several major orders.  In this
regard, the premature termination of a logistics services
contract with FAG Kugelfischer with several more years to run has
been contested.  The company is aiming to achieve a final
assessment of the goodwill in the Thiel Automotive unit by the
September 30, 2005, reporting date.

Thiel expects a unified market approach of Thiel Automotive and
Suedkraft to provide significant momentum for future growth.  The
two business units were placed under a single management at the
end of July, with the aim of pooling the automotive and contract
logistics expertise, leveraging synergies and offering customers
an even broader product portfolio.

About Thiel Logistik AG

Thiel Logistik AG of Grevenmacher, Luxembourg, develops
integrated logistics and service solutions as an external partner
for industry and commerce.  In 2004 the Group generated sales of
EUR1.7 billion, and currently employs a staff of around 9,000 in
44 countries.  With more than 446 locations on all continents,
Thiel Logistik operates in the major European markets and in
every important procurement and sales market worldwide.

The Group's business segments are Industry Solutions, Air & Ocean
with its focus on air and sea freight, and Regional Logistics
Services, whose areas of operation extend from Germany and the
Benelux countries via Switzerland and Austria to the countries of
Central and Eastern Europe.  The Industry Solutions are Thiel
Automotive, Thiel FashionLifestyle, Thiel Media and Thiel
Furniture.  Thiel Logistik AG ranks among the market leaders in
its business segments. Thiel Logistik AG is listed on the Prime
Standard segment of the German Stock Exchange.  The principle
shareholder is DELTON AG, Bad Homburg, Germany, with 50.26% of
the share capital.

The report is available free of charge at
http://bankrupt.com/misc/GPC_Biotech(H12005).pdf

CONTACT:  THIEL LOGISTIK AG
          Web site: http://www.thiel-logistik.com

          Tino Fritsch
          Head of Media Relations
          Phone: 00352 / 71 96 90 -1353
          Fax: 00352/71 96 90 -1359
          E-mail: presse-kontakt@thiel-logistik.com

          Hans Dettmar
          Head of Corporate Communication
          Phone: 00352/719690-1360
          Fax: 00352/719690-1359
          E-mail: ir-info@thiel-logistik.com


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


ROYAL SHELL: Buys back Additional 1.8 Million Shares
----------------------------------------------------
On 11 August, 2005, Royal Dutch Shell plc has purchased for
cancellation 1,800,000 'A' Shares at a price of EUR27.24 per
share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,082,286,546*.

As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell
plc were in issue.

[*] Assuming conversion of all Royal Dutch Petroleum shares
tendered pursuant to notice of guaranteed delivery during the
subsequent offer acceptance period in respect of the offer by
Royal Dutch Shell plc for all ordinary shares of Royal Dutch
Petroleum, which expired at 3:00 p.m. Amsterdam time on 9 August
2005.

                            *   *   *

Shell's buyback scheme is understood to be aimed at reviving
shareholders' and investors' confidence.  On Wednesday, the
company purchased for cancellation 1,000,000 'A' Shares at a
price of EUR26.89 per share.  This came as Shell unveiled a
buyback program after a damaging reserves overestimation scandal
last year.

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


===========
N O R W A Y
===========


PAN FISH: Moves Release of Q2 Report to August 26
-------------------------------------------------
The presentation of Pan Fish's second quarter results has been
moved from 16 August 2005 to 26 August 2005.

The presentation will be held at Hotel Continental in Oslo at
08:30 a.m.

                            *   *   *

Headquartered in Stavanger, Pan Fish grows salmon and trout for
export.  It closed its two-year restructuring in May with a
NOK200 million share issue, and the conversion of NOK500 million
of the company's debt into shares.  It reported NOK10.4 Million
operating loss in the first-quarter.

CONTACT:  PAN FISH A.S.A.
          Maskinveien 32,
          P.O. Box 342 Forus
          N-4067 STAVANGER
          Phone: +47 70 11 61 00
          Fax: +47 70 11 61 34
          E-mail: post@panfish.no
          Web site: http://www.panfish.com

          CEO Atle Eide
          Phone: +47 911 52 977


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


POLISH OIL: Unions Want Firm to Cut Supply to 16 Debtors
--------------------------------------------------------
Labor unions want Polish Oil and Gas Company (PGNiG) to stop
supplying gas to 16 debtors, said Interfax.

This came after the debtors reportedly posted the oldest arrears
against PGNiG.  The union's appeal is also seen as a move to
force the State Treasury to carry out PGNiG's long-delayed
initial public offering.  A decision on PGNiG's IPO is expected
Wednesday.

Earlier, a consortium of banks awarded PGNiG a EUR900-million
loan deal to restructure its debt and fund investments.  PGNiG
CEO Marek Kossowski said 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 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.

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


POZMEAT: Administrator Sues BRE Bank to Recover PLN100 Million
--------------------------------------------------------------
The administrator of ZM Pozmeat has filed a case against BRE Bank
S.A. to recover PLN100 million, Interfax News Agency says.

The administrator claims BRE siphoned the money off the bankrupt
meat producer.  In a motion filed with the court that Interfax
did not identify, the administrator sought the annulment of a
real estate sale agreement signed in 2001.

Analysts expect BRE's share price to fall sharply should the
court favors Pozmeat.  It will also negatively affect its
financial results.

Pozmeat fell into liquidation in September 2004 after years of
mudslinging between individual and corporate shareholders, which
have traded accusations of over-investing, excessive debt, and
obstruction of plans to improve the situation.

CONTACT:  ZM POZMEAT S.A.
          61-757 Poznan ul. Garbary
          Zalad Ubojowo-Przetwockzy
          Ul. Poznanka 14, 62-023 Gadki
          Phone: +48 61 817 9300-4
          Fax: +48 61 817 9307
          Web site: http://www.pozmeat.com.pl

          BRE BANK S.A.
          ul. Senatorska 18
          00-950 Warszawa, Skr. poczt. 728
          Phone: (0 22) 829 00 00
          Fax: (0 22) 829 00 33
          Web site: http://www.brebank.com.pl


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


AMUR-OIL-MARKET: Deadline for Proofs of Claim Today
---------------------------------------------------
The Arbitration Court of Amur region has commenced bankruptcy
proceedings against Amur-Oil-Market after finding the close joint
stock company.  The case is docketed as A04-190/05-17/22 "B".
Mr. S. Peshkun has been appointed insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 675000, Russia, Amur region, Blagoveshensk, Zeyskaya
Str. 140, Office 41.  A hearing will take place on Dec. 27, 2005,
8:15 a.m.

CONTACT:  AMUR-OIL-MARKET
          675000, Russia, Amur region, Blagoveshensk,
          Zeyskaya Str. 140, Office 41

          Mr. S. Peshkun
          Insolvency Manager
          675000, Russia, Amur region, Blagoveshensk,
          Zeyskaya Str. 140, Office 41
          Phone/Fax: 52-33-31, 53-12-97


BELGORODSKOYE: Declared Insolvent
---------------------------------
The Arbitration Court of Belgorod region commenced bankruptcy
proceedings against Belgorodskoye (TIN 3102002637) after finding
the repair technical enterprise insolvent.  The case is docketed
as A08-3030/05-2B.  Mr. Y. Uvarov has been appointed insolvency
manager.  Creditors have until Aug. 16, 2005 to submit their
proofs of claim to 308033, Russia, Belgorod, Post User Box 671.

CONTACT:  BELGORODSKOYE
          308014, Russia, Belgorod region,
          N. Chumichova Str. 124

          Mr. Y. Uvarov
          Insolvency Manager
          308033, Russia, Belgorod region,
          Post User Box 671


DAL-TEPLO-ISOLATION: Hires Insolvency Manager from Khabarovsk
-------------------------------------------------------------
The Arbitration Court of Khabarovsk region has commenced
bankruptcy supervision procedure on close joint stock company
Dal-Teplo-Isolation (TIN 2702012321).  The case is docketed as
A73-5269/2005-9.  Ms. E. Kruchinina has been appointed temporary
insolvency manager.  Creditors have until Aug. 16, 2005 to submit
their proofs of claim to 680028, Russia, Khabarovsk, Kalinina
Str. 131.

CONTACT:  DAL-TEPLO-ISOLATION
          680028, Russia, Khabarovsk region,
          Kalinina Str. 131

          Ms. E. Kruchinina
          Insolvency Manager
          680028, Russia, Khabarovsk region,
          Kalinina Str. 131


DENIKS-STROY: Bankruptcy Hearing Set Last Week of August
--------------------------------------------------------
The Arbitration Court of Khabarovsk region has commenced
bankruptcy supervision procedure on limited liability company
Deniks-Stroy (TIN 2723056672).  The case is docketed as
A73-3128/2005-9.  Mr. K. Lysenkov has been appointed temporary
insolvency manager.  A hearing will take place on Aug. 28, 2005
at the Arbitration Court of Khabarovsk region.

CONTACT:  DENIKS-STROY
          Russia, Khabarovsk region,
          Malinivskogo Str. 26

          Mr. K. Lysenkov
          Temporary Insolvency Manager
          Russia, Khabarovsk region,
          Malinivskogo Str. 26


EVRAZ GROUP: Buys 75% of Palini e Bertoli
-----------------------------------------
Evraz Group S.A. has acquired 75% plus 1 share of Palini e
Bertoli S.p.A.

The acquisition will allow Evraz Group S.A. to build on Palini's
strengths as a producer of customized, high-quality plate
products to penetrate new geographic markets, secure captive
customer base for its slabs outside Russia and further improve
the margin from the sale outside Russia of higher value-added
steel products.

The remaining 25% less 1 share would be held by certain of
Palini's former owners (Annia S.r.l.), including members of its
senior management, and would be subject to a call option, pre
emptive rights and lock-up arrangements in favor of Evraz as well
as a put option in favor of the current shareholders.

The acquisition was financed by a combination of debt and equity.
MPS Venture SGR, a private equity arm of Monte dei Paschi Group,
was one of the selling shareholders in the transaction.  Morgan
Stanley & Co. Limited acted as financial advisor and Pavia e
Ansaldo acted as a legal advisor to Evraz on this transaction.
Debt finance was provided by ABN AMRO N.V. Annia S.r.L. was
supported by Studio Legale Montanari e Associati.

Alexander Abramov, Evraz Group Chairman and Chief Executive
Officer, said: "The acquisition of Palini & Bertoli is in line
with our strategy of capturing additional margin through focused
acquisitions of high-quality re-rolling facilities worldwide.

"This transaction, along with a recent winning bid for Vitkovice
Steel, establishes us as a player in the high value-added
European steel plate market.  We are pleased that Palini's
management team, headed by its EO Giampiero Gori, will be joining
Evraz Group and believe they will be an integral part of our
effort in creating value for our shareholders."

About Palini & Bertoli

Palini & Bertoli is a rolling mill in Northern Italy that
produces steel plate for the construction, shipbuilding and
automotive industries.  Palini's total output in 2004 was 356,000
tonnes of rolled products and it generated revenue of
EUR183 million and earnings before interest, tax and depreciation
and amortization of approximately EUR31 million under Italian
GAAP.

About Evraz

Evraz Group is one of the largest vertically integrated steel and
mining businesses with operations mainly in the Russia.  In 2004,
Evraz produced 13.7 million tonnes of crude steel.

Evraz Group is a listed company on the London Stock Exchange. The
company listed its global depositary receipts (GDRs) on the LSE
on June 2, this year, after raising US$422 million from new
investors.

Evraz's principal assets include three of the leading steel
plants in Russia: Nizhny Tagil (NTMK) in the Urals region, and
West Siberian (Zapsib) and Novokuznetsk (NKMK) in Siberia.

Evraz Group's fast-growing mining businesses comprise the
Kachkanarsky (KGOK), Evrazruda (acquired in March 2005) and
Vysokogorsky (VGOK) iron ore mining complexes and NeryungriUgol
Coal Company and an equity interest in the Raspadskaya coal mine.
The mining assets primarily supply Evraz Group's steelmaking
operations, enabling the company to be a vertically integrated
steel producer, limiting its exposure to fluctuations in the
prices of key raw materials.

Evraz obtained over 70% of its iron ore requirements from KGOK,
Evraz Ruda and VGOK in 2004 and also obtains the majority of its
coking coal from Raspadskaya and other affiliated producers.

Evraz also owns and operates the Nakhodka commercial sea port, in
the Far East of Russia, which facilitates access to Asian export
markets.

                            *   *   *

In July, Standard & Poor's Rating Services assigned its 'B+'
long-term corporate credit rating to Evraz Group S.A. and its
core subsidiary Mastercroft Ltd.

Standard & Poor's credit analyst Elena Anankina said: "The
ratings on Evraz and Mastercroft reflect the companies' complex
organizational and ownership structure with, historically,
significant related party transactions, and a short track record
as a single group.

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

These factors could lead to an upgrade (likely one notch) in the
coming one to two years, if the group demonstrates the ability
to reduce debt and if any acquisitions would enhance the group's
business profile (for example, if the recent Vitkovice Steel AS
integration proceeds favorably).

CONTACT:  EVRAZ GROUP
          Corporate Affairs and Communications
          Irina Kibina
          Alexander Karlashov
          Phone: +7 095 234 4629
          E-mail: IR@eam.ru


NEW WORLD-PACIFIC: Deadline for Proofs of Claim Today
-----------------------------------------------------
The Arbitration Court of Sakhalin region has commenced bankruptcy
supervision procedure on close joint stock company New
World-Pacific.  The case is docketed as A59-1433/05-S16.  Mr. O.
Syskov has been appointed temporary insolvency manager.
Creditors have until Aug. 16, 2005 to submit their proofs of
claim to Russia, Khabarovsk, Dzerzhinskogo Str. 28.

CONTACT:  NEW WORLD-PACIFIC
          Russia, Yuzhno-Sakhalinsk region,
          Chekhova Str. 26

          Mr. O. Syskov
          Temporary Insolvency Manager
          Russia, Khabarovsk region,
          Dzerzhinskogo Str. 28


OAO GAZPROM: Fitch Upgrades Ratings to 'BB+'
--------------------------------------------
Fitch Ratings has upgraded OAO Gazprom's Senior Unsecured foreign
currency and local currency ratings to 'BB+' from 'BB' and
removed them from Rating Watch Positive.  A Stable Outlook has
been assigned.

At the same time, Fitch has upgraded Gazprom's US$5.0 billion
program for the issuance of loan participation notes of Gaz
Capital S.A., as well as the US$646.5 million loan participation
note issued by Gazstream S.A., to 'BB+' from 'BB'.  Both the
program and the US$646.5 million Gazstream note rely on a senior
unsecured liability of Gazprom for repayment.

The rating upgrade and rating watch resolution follow the
completion of the government's acquisition of an additional
10.74% of the company's shares, bringing the total ownership
stake to slightly more than 50%.  While Fitch incorporates a
degree of state support into the rating, other factors such as
the company's stand alone credit profile had more influence in
the rating decision.

This has subsequently led to a widening of the historical rating
differential between the Russian Federation ('BBB'/Stable/'F3')
and Gazprom from one notch to two notches, although the company's
credit profile continues to be stable.  Further upgrades to
Gazprom's credit ratings depend on the company's ability to
demonstrate improvement in areas such as domestic pricing power
and operating cost containment, which would improve cash flow
generation.

Other factors affecting Gazprom's ratings include additional
expected strong earnings growth balanced against growing capital
expenditures.  Fitch is concerned with the company's inability to
demonstrate improved operating cash flow generation.  Rising cash
capital expenditures, which are now outstripping operating cash
flow, are a concern as operating cash flow growth has not
materialized to the degree expected in the current hydrocarbon
price environment.

Gazprom's business requires significant ongoing capital
expenditures to maintain production and transportation systems.
As a result, the company has increased borrowings by
approximately US$3.5 billion in 2004.  While this fact on its own
is not viewed negatively by Fitch, further rating upgrades would
depend on a return to cash capital expenditures being financed
with operating cash flows.

The Stable Outlook foresees continued steady natural gas
production in a favorable price environment combined with an
eventual recovery in the company's currently weak cost position.
The recent increase in state-ownership also lends support to the
rating by further aligning the interests of the government with
the interests of the company.  Reducing overall borrowings with
capital injected from this transaction would be viewed favorably
by Fitch.

CONTACT:  FITCH RATINGS
          Jeffrey Woodruff, Moscow
          Phone: +7 095 956 9986
          Isaac Xenitides, London
          Phone: +44 20 7417 4300
          Web site: http://www.fitchratings.com

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


OAO LUKOIL: Imports to Compensate for Odesa Closure
---------------------------------------------------
OAO LUKOIL will make up for the temporary closure of the Odesa
oil refinery by processing crude at CJSC Ukrtatnafta's Kremenchuk
site, said Interfax.

Russia's largest integrated oil company will also import fuel
from Ukraine.  The Odesa plant will reportedly be closed for
repairs for one or two months.

First Vice Prime Minister Anatoliy Kinakh said Wednesday LUKOIL
aims to process around 200,000 tonnes of oil per month at the
Ukrtatnafta's plant.

He added that a protocol is being considered between the company
and the Fuel and Energy Ministry.  The action will outline
LUKOIL's responsibilities regarding oil supply to the Ukrainian
market while the Odesa site is closed.

LUKOIL is into oil & gas exploration and production, and
production and sale of petroleum products, with projects covering
Azerbaijan, Kazakhstan, Egypt, North Africa and Columbia.

It is the second largest private oil company worldwide by proven
reserves, holding around 1.5% of global oil reserves and 2.1% of
global oil production.

In Russia, the company owns four large refineries at Perm,
Volgograd, Ukhta and Nizhny Novgorod.  By the end of 2003
LUKOIL's sales network covered 17 countries of the world,
including Russia, the CIS (Azerbaijan, Belarus, Georgia, Moldova,
Ukraine), Europe (Bulgaria, Hungary, Cyprus, Latvia, Lithuania,
Poland, Serbia, Romania, Czech Republic, Estonia) and the U.S.A.

Standard & Poor's Ratings Services recently revised its outlook
to positive from stable on LUKOIL, following a review of the
company's 2004 operating and financial performance.

Credit analyst Karl Nietvelt said: "The positive outlook . . . is
supported by strongly improved financial and operating
performance in 2004."

The rating is also said to be influenced by LUKOIL's vast crude
oil reserves, massive production, and vertical integration into
refining (including outside Russia).

However, analysts are concerned of the general risks surrounding
the Russian oil industry, particularly the heavy and often
changing tax burden placed on companies.

CONTACT:  OAO LUKOIL
          11, Sretensky Boulevard
          Moscow, Russia, 101000
          Phone: (+7 095) 928 9841
          Fax: (+7 095) 916 0020
          E-mail: investor@lukoil.com
          Web site: http://www.lukoil.com


OBOYANSKAYA MTS: Bankruptcy Supervision Procedure Begins
--------------------------------------------------------
The Arbitration Court of Kursk region has commenced bankruptcy
supervision procedure on open joint stock company Oboyanskaya
MTS.  The case is docketed as A35-2316/05 "g".  Mr. K. Savchenko
has been appointed temporary insolvency manager.

Creditors may send their proofs of claim to 309292, Russia,
Belgorod region, Shebekino, Lenina Str. 82.  A hearing will take
place on Oct. 5, 2005, 3:00 p.m.

CONTACT:  OBOYANSKAYA MTS
          Russia, Kursk region,
          Oboyan, Lenina Str. 94

          Mr. K. Savchenko
          Temporary Insolvency Manager
          309292, Russia, Belgorod region,
          Shebekino, Lenina Str. 82


OSTROVSKIY FOOD: Creditors Opt for Liquidation
----------------------------------------------
The Arbitration Court of Pskov region commenced bankruptcy
proceedings against Ostrovskiy Food Combine after finding the
open joint stock company insolvent.  The case is docketed as
A52-433/2005/4.  Mr. A. Pykhtin has been appointed insolvency
manager.  Creditors have until Sept. 16, 2005 to submit their
proofs of claim to 181350, Russia, Ostrov region, Polevaya Str.
20.

CONTACT:  OSTROVSKIY FOOD COMBINE
          181350, Russia, Ostrov region,
          Polevaya Str. 20

          Mr. A. Pykhtin
          Insolvency Manager
          181350, Russia, Ostrov region,
          Polevaya Str. 20


PSKOV-BRICK: Creditors Have Until Today to File Claims
------------------------------------------------------
The Arbitration Court of Pskov region has commenced bankruptcy
supervision procedure on close joint stock company Pskov-Brick.
The case is docketed as A52-2415/2005/4.  Mr. A. Pykhtin has been
appointed temporary insolvency manager.

Creditors have until Aug. 16, 2005 to submit their proofs of
claim to 180000, Russia, Pskov region, Sverdlova Str. 46-30.  A
hearing will take place on Nov. 21, 2005, 11:00 a.m.

CONTACT:  PSKOV-BRICK
          180011, Russia, Pskov region,
          Borovaya Str. 15

          Mr. A. Pykhtin
          Insolvency Manager
          180000, Russia, Pskov region,
          Sverdlova Str. 46-30


SVOBODNYJ-GAS: Declared Insolvent
---------------------------------
The Arbitration Court of Amur region commenced bankruptcy
proceedings against Svobodnyj-Gas after finding the open joint
stock company insolvent.  The case is docketed as
A04-203/05-11/29 "B".  Mr. A. Bolbot has been appointed
insolvency manager.  Creditors have until Sept. 16, 2005 to
submit their proofs of claim to 675000, Russia, Amur region,
Blagoveshensk, Shimanovskogo Str. 46/2.

CONTACT:  SVOBODNYJ-GAS
          676450, Russia, Amur region,
          Svobodnyj, Upravlencheskaya Str. 1

          Mr. A. Bolbot
          Insolvency Manager
          675000, Russia, Amur region, Blagoveshensk,
          Shimanovskogo Str. 46/2


TIKHOOKEANSKOYE ENTERPRISE: Succumbs to Bankruptcy
--------------------------------------------------
The Arbitration Court of Primorye region commenced bankruptcy
proceedings against Tikhookeanskoye Enterprise Era after finding
the open joint stock company insolvent.  The case is docketed as
A51-12113/04/11-182.  Ms. N. Kiseleva has been appointed
insolvency manager.

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

(a) TIKHOOKEANSKOYE ENTERPRISE ERA
    692820, Russia, Primorye region,
    Bolshoy Kamen, Kolkhoznaya Str. 12

(b) Insolvency Manager
    692904, Russia, Primorye region,
    Nakhodka, Nakhodkinskiy region, 11, Office 5


YUKOS OIL: Judge Clark Approves Societe Generale Agreement
----------------------------------------------------------
Yukos Oil Company previously asked the U.S. Bankruptcy Court for
the Southern District of Texas, upon the entry of orders allowing
the Fee Applications, to:

    (a) allow the disbursement of the Allowed Amounts from the
        Court Registry to Fulbright and Alvarez; and

    (b) return any remaining Registry Funds after the
        disbursements to Yukos USA.

Zack A. Clement, Esq., at Fulbright & Jaworski, L.L.P., in
Houston, Texas, relates that Yukos USA, Inc., deposited $21
million into the Court Registry for the benefit of Yukos Oil
Company.  Interest accrues on the balance of the Registry Funds,
and certain expenses of Yukos' expert witnesses have been paid
out of the Registry Funds pursuant to a Court Order.  As of July
6, 2005, there is $20,790,230 in the Registry Funds.

                    Societe Generale, et al. Object

"The funds in the [Court] Registry that will remain after payment
of Court-allowed Aggregate Fees and Costs should remain in the
Registry and under no circumstances be paid to Yukos USA,
[Inc.]," Societe Generale, S.A., individually and on behalf of 13
other creditors, asserts.

The 13 other creditors are:

   (1) BNP Paribas S.A.,
   (2) Citibank N.A.,
   (3) Commerzbank Aktiencesellschaft,
   (4) Calyon S.A.,
   (5) Deutsche Bank A.G.,
   (6) Ing Bank, N.V.,
   (7) KBC Bank N.V.,
   (8) UFJ Bank Nederland N.V.,
   (9) Hillside Apex Fund Limited,
  (10) Thames River Traditional Funds PLC (High Income Fund),
  (11) VR Global Partners LP,
  (12) Shepherd Investments International Limited, and
  (13) Stark Trading.

Societe Generale serves as Coordinating Bank, Facility Agent and
Security Agent under a $1,000,000,000 Loan Agreement dated
September 24, 2003, between certain lenders and Yukos, as
borrower.

Joseph G. Epstein, Esq., at Winstead, Sechrest & Minick, PC, in
Houston, Texas, relates that Yukos defaulted under the Loan
Agreement.

After the automatic stay in Yukos' bankruptcy case was
terminated, Societe Generale commenced an action against Yukos in
England to collect the obligations owing under the Loan
Agreement.

Mr. Epstein tells the Court that Societe Generale obtained two
related foreign country money judgments in June 2005 against
Yukos:

   (i) On June 17, 2005, the High Court of Justice, Chancery
       Division, in England entered a judgment against Yukos and
       in Societe Generale's favor totaling $472,787,663, plus
       $5,060,770 interest as of April 29, 2005.

  (ii) On June 24, 2005, the High Court entered a second
       judgment against Yukos and in Societe Generale's favor
       totaling $4,398,373, as additional interest for the
       period from April 29 to June 17, 2005.

The English Judgments awarded Societe Generale more than
$480,000,000.  Mr. Epstein maintains that the English Judgments
are final, conclusive and enforceable and the time for filing an
appeal with regard to both English Judgments has lapsed.

On July 25, 2005, Societe Generale filed in the 165th Judicial
District Court of Harris County, Texas:

   (i) an original petition to enforce foreign country money
       judgment;

  (ii) application for temporary restraining order and
       preliminary and permanent injunctions;

(iii) application for turn-over order against Yukos and Yukos
       USA; and

  (iv) application for pre-judgment writs of garnishment against
       garnishees Amegy Bank, formerly known as Southwest Bank
       of Texas and Yukos USA.

The Texas State Court conducted a hearing on July 25, 2005, on
Societe Generale's TRO application.  After a fully contested
hearing, the Texas State Court issued a TRO in Societe Generale's
favor, which restrains Yukos and Yukos USA from taking any action
to obtain the funds from the Court Registry or any action to
transfer the right to obtain the funds in the Court Registry
pending further orders and proceedings.

Mr. Epstein contends the TRO and the requested preliminary
injunction will essentially maintain the status quo until the
time as hearings may be held as to the English Judgments and
Societe Generale's right to enforce the English Judgments through
judgment remedies under the Texas Rules of Civil Procedure, the
Texas Civil Practice and Remedies Code and other applicable law.
Societe General has posted a $850,000 bond in connection with the
TRO.

Accordingly, Societe Generale asks the Court to deny Yukos'
request and maintain the status quo pending a resolution of the
TRO and the matters in the Enforcement Proceedings.

In a February 24, 2005 Order, the Bankruptcy Court retained
jurisdiction of Yukos' bankruptcy case for the purposes of
considering fee applications and determining disposition of the
funds paid into the Court Registry.

Mr. Epstein assures the Bankruptcy Court that the actions taken
in the Enforcement Proceedings do not attempt to interfere with
the Bankruptcy Court's jurisdiction over the funds or the
Bankruptcy Court's prior determination that the funds belong to
Yukos and not Yukos USA.

Mr. Epstein further clarifies that Societe Generale does not
object to the payment of the Aggregate Fees and Costs provided
that the amounts do not exceed $3,410,468, and payment of the
fees was specifically excluded from the TRO.

On July 26, 2005, Yukos and Yukos USA filed a Notice of Removal
of the Texas Enforcement Action with the United States District
Court for the Southern District of Texas, Houston Division.  The
Texas Enforcement Action has been transferred to Judge Ewing
Werlein, Jr.

                          Yukos Responds

Zack A. Clement, Esq. at Fulbright & Jaworski, LLP, in Houston,
Texas, tells Judge Clark that Yukos respects the Court's
jurisdiction for purposes of considering fee applications and
intends to resolve issues relating to the disposition of its
funds in the Court Registry.

Mr. Clement notes that Yukos has hired separate litigation
counsel to respond to Societe Generale's lawsuit that seeks
domestication of its English court orders, restraining orders and
garnishment.

Yukos' litigation counsel decided to remove the Lawsuit to
federal court because it bears on the February 2005 Court Order,
providing that the "[Bankruptcy] Court will retain jurisdiction
for the purposes of considering fee applications and determining
disposition of funds paid into the Court's Registry."

Yukos has also entered into negotiations with Societe Generale
concerning the terms of payment of the Remaining Funds, Mr.
Clement tells the Court.

Mr. Clement relates that on August 3, 2005, Yukos and Societe
Generale reached an agreement, where Yukos promises to consent
to:

   (a) immediately pay Societe Generale $17.5 million of its
       funds that will be remaining in the Court Registry, after
       payment of the requested administrative expenses; and

   (b) the entry of a Bankruptcy Court order:

          -- releasing the Remaining Funds from the Court
             Registry; and

          -- ruling that the Remaining Funds be paid immediately
             to Societe Generale.

The Court has allowed fees and expenses aggregating $3,410,468 to
Fulbright & Jaworski, L.L.P., and Alvarez and Marsal, and ordered
that the fees be paid out of Yukos' funds in the Court Registry.

                         Court Decision

At Yukos' behest, Judge Clark approves Yukos' agreement with
Societe Generale.

Headquartered in Houston, Texas, Yukos Oil Company is an open
joint stock company existing under the laws of the Russian
Federation.  Yukos is involved in the energy industry
substantially through its ownership of its various subsidiaries,
which own or are otherwise entitled to enjoy certain rights to
oil and gas production, refining and marketing assets.  The
Company filed for chapter 11 protection on Dec. 14, 2004 (Bankr.
S.D. Tex. Case No. 04-47742).  Zack A. Clement, Esq., C. Mark
Baker, Esq., Evelyn H. Biery, Esq., John A. Barrett, Esq.,
Johnathan C. Bolton, Esq., R. Andrew Black, Esq., Fulbright &
Jaworski, LLP, represent the Debtor in its restructuring efforts.
When the Debtor filed for protection from its creditors, it
listed $12,276,000,000 in total assets and $30,790,000,000 in
total debt.  On Feb. 24, 2005, Judge Letitia Z. Clark dismissed
the Chapter 11 case.  (Yukos Bankruptcy News, Issue No. 24;
Bankruptcy Creditors' Service, Inc., 215/945-7000)

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

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


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


ABRIS: Zaporizhya Court Opens Bankruptcy Proceedings
----------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Abris (code EDRPOU 2214725) after finding the
limited liability company insolvent.  The case is docketed as
21/222.  Mr. O. Vojtanovich (License Number AA 419243) has been
appointed liquidator/insolvency manager.  The company holds
account number 26003208210001 at CB Privatbank, Zaporizhya
regional branch, MFO 313399.

CONTACT:  ABRIS
          71100, Ukraine, Zaporizhya region,
          Berdyansk, Uritskij Str. 3

          Mr. O. Vojtanovich
          Liquidator/Insolvency Manager
          69076, Ukraine, Zaporizhya region,
          Zhukov Str. 14/168

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


AGROFIRM AGRO: Bankruptcy Supervision Starts
--------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on Agricultural Production Cooperative
Agrofirm Agro (code EDRPOU 30876576) on May 31, 2005.  The case
is docketed as 19/144.  Mr. Vasil Ishenko (License Number AA
719771) has been appointed temporary insolvency manager.  The
company holds account number 26005325014870 at JSCB Ukrsocbank,
MFO 313463.

CONTACT:  Mr. Vasil Ishenko
          Temporary Insolvency Manager
          Ukraine, Zaporizhya region,
          Melitopol, B. Hmelnitskij Str. 87/55

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


BORIVSKA RAJAGROHIMIYA: Under Bankruptcy Supervision
----------------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on OJSC Borivska Rajagrohimiya (code EDRPOU
05491014) on July 5, 2005.  The case is docketed as B-19/66-05.
Ms. Natalya Ivleva (License Number AA 116289) has been appointed
temporary insolvency manager.

CONTACT:  BORIVSKA RAJAGROHIMIYA
          63800, Ukraine, Harkiv region,
          Borivskij district, Borova Str. Agrohimkomplex

          Ms. Natalya Ivleva
          Temporary Insolvency Manager
          Ukraine, Harkiv region,
          S. Tarhov Str. 5/9
          Phone: 8 (067) 902-72-57

          ECONOMIC COURT OF HARKIV REGION
          61022, Ukraine, Harkiv region,
          Svobodi Square, 5, Derzhprom, 8th Entrance


BROSHNIV: Court Appoints Temporary Insolvency Manager
-----------------------------------------------------
The Economic Court of Ivano-Frankivsk region commenced bankruptcy
supervision procedure on LLC Furniture Combine Broshniv (code
EDRPOU 30760543) on June 9, 2005.  The case is docketed as
B-16/175.  Mr. Yurij Gorodchuk (License Number AB 216850) has
been appointed temporary insolvency manager.  The company holds
account number 26001331010200 at JSCB Prikarpattya, Kalush
branch, MFO 336729.

CONTACT:  BROSHNIV
          77614, Ukraine, Ivano-Frankivsk region,
          Rozhnyativskij district, Broshniv,
          Sichovih Striltsiv Str. 52

          Mr. Yurij Gorodchuk
          Temporary Insolvency Manager
          78000, Ukraine, Ivano-Frankivsk region,
          Tlumach, Promislovij Lane, 6

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


CHORNOMORSKE REPAIR-TRANSPORT: Declared Insolvent
-------------------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
proceedings against Chornomorske Repair-Transport Enterprise
(code EDRPOU 03752456) on May 23, 2005 after finding the open
joint stock company insolvent.  The case is docketed as
2-6/1868-2005.  Mr. V. Yablonskij (License Number AB 216940) has
been appointed liquidator/insolvency manager.  The company holds
account number 26008301323404 at Prominvestbank, MFO 324430.

CONTACT:  CHORNOMORSKE REPAIR-TRANSPORT ENTERPRISE
          Ukraine, AR Krym region,
          Chornomorske, Pivdenna Str. 56

          Mr. V. Yablonskij
          Liquidator/Insolvency Manager
          04213, Ukraine, Kyiv region,
          Pririchna Str. 27
          Phone: 8 (050) 178-78-51

          THE ECONOMIC COURT OF AR KRYM REGION
          95000, Ukraine, AR Krym region,
          Simferopol, Karl Marks Str. 18


MAKSI-PLUS: Falls into Bankruptcy
---------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Maksi-Plus (code EDRPOU 32299018) on June 21,
2005 after finding the private production-commercial enterprise
insolvent.  The case is docketed as B 15/113/05.  Mr. Roza
Romashko (License Number AA 630128) has been appointed
liquidator/insolvency manager.

CONTACT:  MAKSI-PLUS
          49000, Ukraine, Dnipropertrovsk region,
          Naberezhna Peremogi Str. 38

          Mr. Roza Romashko
          Liquidator/Insolvency Manager
          49070, Ukraine, Dnipropetrovsk region,
          Moskovska Str. 6/301, 305
          Phone: 8 (056) 778-12-49
                         778-12-46

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


OBLPALIVO: Succumbs to Bankruptcy
---------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on CJSC Oblpalivo (code EDRPOU 32196628).
The case is docketed as B 29/82/05.  Mr. Yurij Saluk (License
Number AA 669631) has been appointed temporary insolvency
manager.  The company holds account number 26006987 at
CJSC JSB Radabank, MFO 306500.

CONTACT:  OBLPALIVO
          49600, Ukraine, Dnipropetrovsk region,
          Komsomolska Str. 56

          Mr. Yurij Saluk,
          Temporary Insolvency Manager
          49055, Ukraine, Dnipropetrovsk region,
          Titov Str. 9, office 16

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


SLAVUTICH-A: Insolvency Manager Takes over Helm
-----------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Slavutich-A (code EDRPOU 20480232) on
February 28, 2005 after finding the close joint stock company
insolvent.  The case is docketed as 19/48.  Mr. O. Vojtanovich
(License Number AA 419243) has been appointed
liquidator/insolvency manager.  The company holds account number
26009202468002 at CB Privatbank, Zaporizhya regional branch,
MFO 313399.

CONTACT:  SLAVUTICH-A
          69017, Ukraine, Zaporizhya region,
          Ostriv Hortitsya, 17

          Mr. O. Vojtanovich
          Liquidator/Insolvency Manager
          69076, Ukraine, Zaporizhya region,
          Zhukov Str. 14/168

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


SPECTEHAGROSERVICE: Applies for Bankruptcy Proceedings
------------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Spectehagroservice (code EDRPOU 32454211) on
June 30, 2005 after finding the limited liability company
insolvent.  The case is docketed as 43/488.  Ms. Svitlana Lunkova
has been appointed liquidator/insolvency manager.  The company
holds account number 26000012826019 at OJSC Ukreximbank, MFO
322313.

CONTACT:  SPECTEHAGROSERVICE
          04071, Ukraine, Kyiv region,
          Yaroslavska st., 58

          Ms. Svitlana Lunkova
          Liquidator/Insolvency Manager
          Ukraine, Kyiv region, Melnikov Str. 2/10

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


TRI ELL: Bankruptcy Proceedings Opened on Account of Insolvency
---------------------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Tri Ell (code EDRPOU 31806729) on June 30,
2005 after finding the limited liability company insolvent.  The
case is docketed as 43/483.  Ms. Svitlana Lunkova has been
appointed liquidator/insolvency manager.  The company holds
account number 26003001225001 at JSC Ukrinbank, Kyiv region
branch, MFO 300250.

CONTACT:  TRI ELL
          03186, Ukraine, Kyiv region,
          Antonov Str. 5/302

          Ms. Svitlana Lunkova
          Liquidator/Insolvency Manager
          Ukraine, Kyiv region,
          Melnikov Str. 2/10

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


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


4 ACTION SPORTS: Gears up for Liquidation
-----------------------------------------
Company Name: 4 ACTION SPORTS LTD
              Hornbeam Accountancy Services,
              Bidwell Road,
              Rackheath Industrial Estate,
              Norwich,
              Norfolk, NR13 6PT

Registration Number: 02816167

Court: High Court of Justice

Date of Filing Petition: June 10, 2005

No. of Matter: 003827 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          Emmanuel House,
          2 Convent Road,
          Norwich, NR2 1PA
          Phone: 01603 628983
          Fax: 01603 760842


A D DAVIES: Winding-up Gets Court Approval
------------------------------------------
Company Name: A D DAVIES LTD.
              Unit 12, Crynant Business Park,
              Crynant,
              Neath, SA10 8AP

Registration Number: 04410145

Court: Bristol District Registry

Date of Filing Petition: June 2, 2005

No. of Matter: 2253 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          2nd Floor, Sun Alliance House,
          166-167 St Helens Road,
          Swansea, SA1 5DL
          Phone: 01792 642861
          Fax: 01792 479700


AJS CONSTRUCTION: Names Vantis Liquidator
-----------------------------------------
At an Extraordinary General Meeting of AJS Construction (Luton)
Limited, duly convened, and held at Torrington House, 47 Holywell
Hill, St Albans, Hertfordshire AL1 1HD, on 28 July 2005, the
following 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
Michael Young, of Vantis Business Recovery, Torrington House, 47
Holywell Hill, St Albans, Hertfordshire AL1 1HD, be and is hereby
appointed Liquidator for the purposes of such winding-up."

A Stewart, Chairman

CONTACT:  VANTIS BUSINESS RECOVERY
          Torrington House,
          47 Holywell Hill, St Albans,
          Hertfordshire AL1 1HD
          Phone: 01727 811111
          Fax: 01727 810057
          E-mail: nhamiltons@aol.com
          Web site: http://www.vantismt.com


A K & Y: Court Says Yes to Liquidation
--------------------------------------
Company Name: A K & Y LTD.
              Noble House, 37A Peel Road,
              North Wembley,
              Middlesex, HA9 7LY

Registration Number: 03099041

Court: High Court of Justice

Date of Filing Petition: May 13, 2005

No. of Matter: 003135 of 2005

Date of Winding-up Order: July 27, 2005

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


ALEXANDRA PLASTICS: EGM Passes Winding-up Resolutions
-----------------------------------------------------
At an Extraordinary General Meeting of Alexandra Plastics
Limited, duly convened, and held at the offices of Elwell
Watchorn & Saxton LLP, Cumberland House, 35 Park Row, Nottingham
NG1 6EE, on 28 July 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
Ronald Stanley Harding and David John Watchorn of Elwell Watchorn
& Saxton LLP, Cumberland House, 35 Park Row, Nottingham NG1 6EE,
be and are hereby appointed Joint Liquidators for the purposes of
such winding-up."

N A Snell, Director

CONTACT:  ELWELL WATCHORN & SAXTON
          Cumberland House,
          35 Park Row,
          Nottingham NG1 6EE
          Phone: (+44) 0115 988 6035
          Fax: (+44) 0115 988 6135 815121
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


ARIS UK: Appoints Liquidator
----------------------------
By a Resolution in writing pursuant to the provisions of Section
381A of the Companies Act 1985, the following Special Resolution
was passed on 3 August 2005:

"That [Aris UK Limited] be wound up voluntarily, and that Stephen
Katz, be appointed Liquidator for the purposes of such
winding-up."

P Harris, Director


ARTISAN BUSINESS: In Voluntary Winding-up
-----------------------------------------
At an Extraordinary General Meeting of Artisan Business
Management Systems Limited, duly convened, and held at 39 Hatton
Garden, London EC1N 8EH, on 1 August 2005, the following
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, it is insolvent and that it is advisable to wind up the
same and accordingly that the Company be wound up voluntarily,
and that Stephen Evans and Tim Brown, of Pure Recovery LLP, 39
Hatton Garden, London EC1N 8EH, be and are hereby appointed Joint
Liquidators of the Company for the purpose of the voluntary
winding-up."

M Whately, Chairman


ASHKEY LIMITED: Members Opt for Liquidation
-------------------------------------------
At an Extraordinary General Meeting of the Members of Ashkey
Limited, duly convened, and held at The Old Bridge Hotel,
Holmfirth, Huddersfield HD9 1DA, on 28 July 2005, the following
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
William Clive Swindell, of Yorkshire House, 7 South Lane,
Holmfirth, Huddersfield HD9 1HN, be and he is hereby nominated
Liquidator for the purpose of the winding-up."

A Sykes

CONTACT:  William Clive Swindell, Liquidator
          Yorkshire House, 7 South Lane,
          Holmfirth, Huddersfield HD9 1HN
          Phone: 01484 688344


AURORA WIRELESS: Appoints Vantis Liquidator
-------------------------------------------
At an Extraordinary General Meeting of the Members of Aurora
Wireless Limited, duly convened, and held at 49 London Road, St
Albans, Hertfordshire AL1 1HD, on 27 July 2005, the subjoined
Special Resolution was passed:

"That the Company be wound up voluntarily, and that Nigel
Hamilton-Smith of Vantis Business Recovery, Torrington House, 47
Holywell Hill, St Albans, Hertfordshire AL1 1HD, be and he is
hereby appointed Liquidator for the purposes of such winding-up."

K W Darwin, Chairman

CONTACT:  VANTIS BUSINESS RECOVERY
          Torrington House,
          47 Holywell Hill, St Albans,
          Hertfordshire AL1 1HD
          Phone: 01727 811111
          Fax: 01727 810057
          E-mail: nhamiltons@aol.com
          Web site: http://www.vantismt.com


AVIONICS: Airport Service Provider Files for Administration
-----------------------------------------------------------
The directors of Surrey-based airport specialist Avionics has
called in administrators from Menzies Corporate Restructuring,
reports say.

The decision came after talks with banks regarding additional
funding to finish current and new contracts failed.  It started
emergency talks with banks last month after the suspension of its
shares on failure to find backing for current and new contracts.
The company said in May four of its major contracts had suffered
delays due to factors outside its control.

The firm's recent runway work includes London Manston airport in
Kent, the Abu Dhabi second runway project and Bristol
International Airport runway upgrade.  Its biggest ever contracts
was the GBP1.1 million installation and commissioning of the air
traffic tower at Liverpool John Lennon Airport, which became
operational in January 2002.

The administrators are currently trying to sell the company as a
going concern.

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


BRAID-TEX LIMITED: EGM Passes Winding-up Resolutions
----------------------------------------------------
At an Extraordinary General Meeting of Braid-Tex Limited, held at
39 Castle Street, Leicester LE1 5WN, on 1 August 2005, the
following Resolutions were duly passed, as an Extraordinary
Resolution and as Ordinary Resolutions respectively:

"That it has proved to the satisfaction of the 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, that
Mark Grahame Tailby and Neil Richard Gibson, of CBA, 39 Castle
Street, Leicester LE1 5WN, be and are hereby appointed Joint
Liquidators for the purpose of such winding-up, and that the
Joint Liquidators be and are hereby empowered to act jointly and
severally."

L Scarf, Chairman

CONTACT:  CBA
          39 Castle Street
          Leicester LE1 5WN
          Phone: (0116) 262 6804
          Fax: (0116) 217 1404
          E-mail: leics@cba-insolvency.co.uk
          Web site: http://www.cba-insolvency.co.uk


CABLE & WIRELESS: Confirms Takeover Plans for Energis
-----------------------------------------------------
Cable and Wireless plc has noted the current speculation relating
to an imminent transaction with Energis plc.

As announced at its Annual General Meeting on 22 July 2005, Cable
& Wireless has approached the stakeholders of Energis, and has
made a proposal to acquire Energis.

Cable & Wireless' proposal has been recommended unanimously by
the board of Energis to Energis' stakeholders.

The acquisition proposal will not be increased in value under any
circumstances and will fall away if 75% by value of the holders
of Energis' debt have not signed the acceptance by 5:00 p.m.
Monday, 15 August 2005.  If 75% so accept by that date, then the
proposal will become a binding legal contract.

                            *   *   *

Cable & Wireless is one of the world's leading international
communications companies.  It provides voice, data and IP
(Internet Protocol) services to business and residential
customers, as well as services to other telecoms carriers,
mobile operators and providers of content, applications and
Internet services.

Cable & Wireless' principal operations are in the United
Kingdom, continental Europe, Asia, the Caribbean, Panama and the
Middle East.

In June, the group reported profit before tax and exceptional
items of GBP377 million, up 36 % against prior year, while
operating profit from continuing operations, before exceptional
items reached GBP277 million, up 20% against prior year.

Chairman Richard Lapthorne said: "The 2004/2005 financial
performance demonstrates our progress.  The past 12 months have
been a time of transition, as Cable & Wireless entered a new
phase in the three-year program to revive
the Company.  By the end of the year, the Chief Executive and his
new team were no longer preoccupied with the issues of the
Company's past, and had turned confidently to face the future.

"Our markets continue to suffer from excess capacity and severe
price competition.  Performance improvement will come from
efficiencies and cost cutting, and a shift in our sales mix
towards broadband, IP and mobile.  We are in a unique position to
help our customers embrace these new technologies and I look
forward with confidence to the year ahead."

CONTACT:  CABLE AND WIRELESS PLC
          124 Theobalds Rd.
          London WC1X 8RX, United Kingdom
          Phone: +44-20-7315-4000
          Fax: +44-20-7315-5198
          Web site: http://www.cw.com/new/


CAMERO VENTURES: Calls in Liquidator
------------------------------------
At an Extraordinary General Meeting of Camero Ventures Limited,
duly convened, and held at 76 New Cavendish Street, London W1G
9TB, on 2 August 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
Jeremy Berman, of Berley, 76 New Cavendish Street, London W1G
9TB, be and is hereby appointed Liquidator for the purpose of
such winding-up."

At a subsequent Meeting of Creditors held on the same day, the
Members nominee was confirmed as Liquidator.

M Keen, Director

CONTACT:  BERLEY
          76 New Cavendish Street
          London W1M 7LB
          Phone: 020 7636 9094
          Fax: 020 7636 4115
          E-mail: mark.levy@berley.co.uk


CARE-FULL CLEANING: In Liquidation
----------------------------------
At an Extraordinary General Meeting of Care-Full Cleaning (UK)
Limited, duly convened, and held at 141 Parrock Street,
Gravesend, Kent DA12 1EY, on 28 July 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 K
B Stout, be and is hereby appointed Liquidator for the purposes
of such winding-up."

C T Joyce, Director


COLNETT BUILDING: Liquidator Moves in
-------------------------------------
At an Extraordinary General Meeting of Colnett Building &
Property Maintenance Limited, duly convened, and held at 60-62
High Street, Harpenden, Hertfordshire AL5 2SP, on 3 August 2005,
the following 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
Anthony David Kent, of Maidment Judd, 60-62 High Street,
Harpenden, Hertfordshire AL5 2SP, be and he is hereby appointed
Liquidator for the purposes of such winding-up."

C R Bateson, Chairman

CONTACT:  MAIDMENT JUDD
          60/62 High Street
          Harpenden
          Hertfordshire AL5 2SP
          Phone: 01582 469700
          Fax: 01582 460674
          E-mail: akent@maidmentjudd.co.uk


COMPLETE MANAGEMENT: Members Call in Liquidator
-----------------------------------------------
At an Extraordinary General Meeting of the Members of Complete
Management (Entertainment) Limited, duly convened, and held at O'
Hara & Co, 1 Thorne Road, Doncaster DN1 2HJ, on 29 July 2005, the
following 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
Peter O'Hara, of O'Hara & Co, Wesley House, Huddersfield Road,
Birstall, Batley WF17 9EJ, be and he is hereby appointed
Liquidator for the purposes of such winding-up."

C R Halford, Director


COSTAIN GROUP: Wins Major Environmental Project
-----------------------------------------------
Costain Group plc has been awarded by ConocoPhillips an
engineering design, procurement and construction contract for a
VOC Recovery Project at the North Sea Petroleum Terminal, Seal
Sands, Middlesbrough, United Kingdom.

The total project investment value is in excess of GBP36 million
(US$65 million).  This follows successful completion of the FEED
development for the project by Costain.

The aim of the project is to provide an effective solution for
the abatement of volatile vapour (VOC) emitted from oil tankers
during crude oil loading operations.  When complete in the latter
half of 2007, the project will result in a significant decrease
in emissions from all crude oil tankers calling at the terminal.

This is a major project for Terminal Operator ConocoPhillips,
with safety, health and environmental issues as key drivers.  The
project is fully aligned with ConocoPhillips' policy on
commitment to sustainable development, and the long-term goals of
the Teesside Terminal to reduce hydrocarbon emissions.

Costain Oil, Gas and Process Ltd has been selected as the
principal contractor, and will partner with ConocoPhillips in
pursuing its goal of aligning key stakeholders by ensuring
commitment and understanding of the expectations and objectives
of the project.  An integrated project team drawn from both the
ConocoPhillips and Costain organizations has been established to
manage the project, based at both the Teesside Terminal and
Costain's project office in Manchester.

Charles Sweeney, Managing Director, Costain Oil, Gas & Process,
said: "We are delighted to continue our working relationship with
ConocoPhillips on the EPC phase of this project, following the
successful completion of the FEED package earlier this year."

                            *   *   *

Costain collapsed under heavy debt in the mid 1990s after
venturing into U.S. mining.  It is still trying to recover, with
its first dividend in years expected this year or next.  Its
core U.K. business reported a GBP10.5 million profit last year
after plunging into a EUR5 million loss in 2000.

The company has moved into asset management of water utilities
from civil engineering.  In May, the special resolution
approving the reduction of share capital and cancellation of
share premium account in the Company was approved by the
Companies Court and was registered at Companies House.

CONTACT:  COSTAIN GROUP PLC
          Costain House, Nicholsons Walk
          Maidenhead
          SL6 1LN, United Kingdom
          Phone: +44-1628-842-444
          Fax: +44-1628-674-477
          Web site: http://www.costain.com

          Stuart Doughty, Chief Executive
          Charles McCole, Finance Director
          Graham Read, Public Relations
          Phone: 01628 842 444


DGK JEWEL: Names Begbies Traynor Liquidator
-------------------------------------------
At an Extraordinary General Meeting of the Members of DGK Jewel,
duly convened, and held at The Strathdon Hotel, Derby Road,
Nottingham NG1 5FT, on 3 August 2005, the following 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
Peter A Blair and Paul Finnity, of Begbies Traynor, Regency
House, 21 The Ropewalk, Nottingham NG1 5DU, be and hereby are
appointed Joint Liquidators of the Company for the purpose of the
voluntary winding-up, and any act required or authorised under
any enactment to be done, may be done by any one or more persons
holding the office of Liquidator from time to time."

D Colbeck, Chairman

CONTACT:  BEGBIES TRAYNOR
          Regency House,
          21 The Ropewalk, Nottingham NG1 5DU
          Phone: 0115 941 9899
          Fax:   0115 945 4845
          Web site: http://www.begbies.com


DUNBAR GROUP: Liquidators from Begbies Move in
----------------------------------------------
At an Extraordinary General Meeting of the Members of Dunbar
Group Plc, duly convened, and held at 9-15 Sackville Street,
London W1A 2JP, on 2 August 2005, the following Special
Resolution was duly passed:

"That the Company be wound up voluntarily, and that Nigel
Geoffrey Atkinson and Paul Michael Davis, of Begbies Traynor
(South) LLP, 32 Cornhill, London EC3V 3BT, be and they are hereby
appointed Liquidators for the purposes of such winding-up."

A Frearson, 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


ENERGIS PLC: THUS Group Outbids Cable & Wireless
------------------------------------------------
THUS Group plc has reportedly offered GBP800 million for rival
Energis plc.  This poses a threat to Cable & Wireless' earlier
agreed takeover of the highly indebted firm.

According to Reuters, THUS intends to pay GBP600 million in cash,
while the rest will come in shares.  The news came as C&W
disclosed that its proposal has been recommended unanimously by
the board of Energis to stakeholders.  The offer is said to be
worth around GBP710 million.

In July, THUS said since the start of the current financial year,
it has continued to grow across all three of its key divisions of
Managed solutions, Data and telecoms and Internet services.
Turnover from carrier pre-select has been relatively stable
following the fall in turnover from this service in the second
half of last financial year.

However, the financial effects of new services growth on profit
margins have been weakened by the current shift of customers from
traditional, high margin dial-up Internet access services to
broadband, and the new terms of last year's major contract
renewals.

William Allan, Chief Executive, said: "THUS has one of the
U.K.'s most advanced core networks and continues to respond
vigorously to the challenging competitive dynamics in the U.K.
telecommunication market with a focus on converged services.

"Converged services deliver cost and flexibility advantages for
business customers as well as growth and cash generation for
THUS.  Our service innovation and capability continues to propel
us forward and gives the Board confidence in continued revenue
growth and cash generation over the current year."

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


FAST FRAME: Administrators from PKF Enter Firm
----------------------------------------------
Name: FAST FRAME (UK) LIMITED
     (Company No 04458997)

Nature of Business: Manufacture of PVCu Windows, Doors and
Conservatories

Address of Registered Office: Regent House, Clinton Avenue,
Nottingham NG5 1AZ

Date of Appointment: July 28, 2005

Administrators' Names and Address: Edward T. Kerr and Ian J.
Gould (IP Nos 9020 and 7866), both of Regent House, Clinton
Avenue, Nottingham NG5 1AZ

CONTACT:  FAST FRAME (UK) LTD
          Amber Drive,
          Bailey Brook Ind Est Langley Mill
          Nottingham
          Nottinghamshire NG16 4BE
          Phone: 01773 714777

          PKF
          Regent House
          Clinton Avenue
          Nottingham
          Nottinghamshire NG5 1AZ
          Phone: 0115 960 8171
          Fax: 0115 960 3665


FINANCIAL CONSULTANCY: Crumbles to Liquidation
----------------------------------------------
Company Name: THE FINANCIAL CONSULTANCY LIMITED
              The Old Coach House,
              55 Richmond Wood Road,
              Bournemouth, BH8 9DQ

Registration Number: 02318879

Court: High Court of Justice

Date of Filing Petition: June 13, 2005

No. of Matter: 003897 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          1st Floor, Heliting House,
          35 Richmond Hill,
          Bournemouth, BH2 6HT
          Phone: 01202 203900
          Fax: 01202 203920


FIRST CHOICE: In Voluntary Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of First
Choice Support Limited, duly convened, and held at St Johns
Court, Wiltell Road, Lichfield, Staffordshire, on 29 July 2005,
the following Special Resolution was duly passed:

That the Company be wound up voluntarily, and that M F P Smith be
and is hereby appointed Liquidator for the purposes of such
winding-up."

T A Regan, Chairman


INCHCAPE CROYDON: Liquidators from Mazars Move in
-------------------------------------------------
At an Extraordinary General Meeting of the Members of Inchcape
Croydon Property Limited, duly convened, and held at 10 Crown
Place, London EC2A 4FT, on 28 July 2005, the following
Resolutions were passed as a Special Resolution and as an
Ordinary Resolution respectively:

"That the Company be wound up voluntarily, and that Christopher
Rodney Ashurst and Martin Dominic Pickard of the firm Mazars LLP,
be and are hereby appointed Joint Liquidators of the Company for
the purposes of the voluntary winding-up."

E Cook, Chairman

CONTACT:  MAZARS LLP
          E-mail: tim.ball@mazars.co.uk


INDEPENDENT BUILDING: In Administrative Receivership
----------------------------------------------------
Name: INDEPENDENT BUILDING SOLUTIONS LIMITED
      (Reg No 04480648)

Nature of Business: Specialist Engineering and Maintenance
Services

Trade Classification: 23-Special Trade Construction

Date of Appointment of Joint Administrative Receivers: August 2,
2005

Name of Person Appointing the Joint Administrative Receivers:
Bank of Scotland Plc

Joint Administrative Receivers: Karen Dukes and Colin Haig
(Office Holder Nos 1467 and 7965), both of PricewaterhouseCoopers
LLP, Plumtree Court, London EC4A 4HT

                            *   *   *

IBS was established in 1992, and provides specialist BMS &
control system design, installation and maintenance services.
Based in Croydon UK, Paris and Frankfurt; it also provide
independent advice on systems and requirements to suit your
needs.  Visit http://www.ibscontrol.net/for more information.

CONTACT:  INDEPENDENT BUILDING SOLUTIONS LTD.
          75 Gloucester Road
          Croydon CR0 2DL
          Surrey
          Phone: +44 (0) 20 85 05 04 06
          Fax: +44 (0) 20 84 05 04 10

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


ITALIAN FURNITURE: Goes into Liquidation
----------------------------------------
At an Extraordinary General Meeting of the Members of Italian
Furniture Retail Ltd (t/a Italian Furniture Centre), duly
convened, and held at Langley House, Park Road, London N2 8EX, on
28 July 2005, the following 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
Alan Simon, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

M Walsh, Director


JN GOLF: Members Appoint Liquidator
-----------------------------------
At an Extraordinary General Meeting of the Members of JN Golf
Centre Gravesend Limited, duly convened, and held at 46 Asquith
Road, Wigmore, Gillingham, Kent ME8 0JD, on 2 August 2005, the
following Special Resolution was duly passed:

"That the Company be wound up voluntarily, and that Andrew John
Whelan, of Marks Bloom 60-62 Old London Road, Kingston upon
Thames KT2 6QZ, be and he is hereby appointed Liquidator."

J L Zillwood, Director


JPK SERVICES: Calls in Joint Liquidators
----------------------------------------
At an Extraordinary General Meeting of the Members of JPK
Services Limited, duly convened, and held at 67 Butts Green Road,
Hornchurch, Essex RM11 2JS, on 1 August 2005, the following
Resolutions were duly passed, as an Extraordinary Resolution and
as Ordinary Resolutions 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
Paul Atkinson and G Mummery, be and are hereby appointed Joint
Liquidators for the purposes of such winding-up, and that the
Joint Liquidators may act independently and in doing so those
acts are joint and several on the Joint Liquidators."

M Fogerty, Director


LUDGATE 259: In Voluntary Liquidation
-------------------------------------
At an Extraordinary General Meeting of the Members of Ludgate 259
Limited, duly convened, and held at 46 Asquith Road, Wigmore,
Gillingham, Kent ME8 0JD, on 2 August 2005, the following Special
Resolution was duly passed:

"That the Company be wound up voluntarily, and that Andrew John
Whelan, of Marks Bloom, 60-62 Old London Road, Kingston upon
Thames KT2 6QZ, be and he is hereby appointed Liquidator."

J L Zillwood, Director


LONDON CITYLINK: DTI Orders Winding-up of Sister Companies
----------------------------------------------------------
The Department of Trade and Industry has filed petitions for the
liquidation of London Citylink Limited and sister company London
Citylink Secretaries Limited.

According to Creditman, the petitions were presented in the High
Court on August 3, after a probe by DTI's Companies Investigation
Branch.  The petitions were listed under Section 124A of the
Insolvency Act 1986.

The Court has already appointed the Official Receiver as
provisional liquidator of the companies, with effect from 4
August 2005.  This is pending the hearing of the petitions, which
is set on Wednesday, 14 September 2005.

The sole director of London Citylink Limited is Thomas Weigt.
Mr. Weigt also serves as company secretary to London Citylink
Secretaries Limited.

Meanwhile, London Citylink Secretaries Limited's sole director
Joel Lange also holds the secretarial post at London Citylink
Limited.

CONTACT:  LONDON CITYLINK LIMITED/
          LONDON CITYLINK SECRETARIES LIMITED
          Thrale House, 2nd Floor West
          44-46 Southwark Street
          London, SE1 1UN
          Phone: +44 (20) 7234 5920
          Fax: +44 (20) 7015 9160
          E-mail: tw@londoncitylink.com

          THE OFFICIAL RECEIVER
          Public Interest Unit
          21 Bloomsbury Street
          London WC1B 3SS


MASTERPAY MANAGEMENT: Creditors Meeting Set Thursday
----------------------------------------------------
Company Names: MASTERPAY MANAGEMENT SERVICES LIMITED
               Company Nos 04801188

               SHERWOOD ENGINEERING RECRUITMENT LIMITED
               Company Nos 02280369

               SHERWOOD MANAGED SERVICES LIMITED
               Company Nos 04427353


Location: The Crowne Plaza, Leeds City Centre, Wellington Street,
Leeds, West Yorkshire LS1 4DL.

On: 19 August 2005, at 10.30 am.

The Meeting is an initial Creditors' Meeting under paragraph 51
of Schedule B1 to the Insolvency Act 1986. Creditors are invited
to attend. Any Creditor unable to attend should complete a proxy
form by the above date if they wish to be represented. To be
entitled to vote at the Meeting, you must provide details in
writing of your claim to PricewaterhouseCoopers LLP, Benson
House, 33 Wellington Street, Leeds LS1 4JP, by 12.00 noon on the
business day before the Meeting. Any Member of the Companies who
require a copy of the proposals should send a written request to
the address above, and a copy will be sent free of charge.

E Klempka and S A Ellis, Joint Administrators

                            *   *   *

Masterpay provide a personalized accounting, payroll and
administration service for contractors in all kinds of
industries.  Visit http://www.masterpay.co.ukfor more
information.

CONTACT:  MASTERPAY MANAGEMENT SERVICES
          Wellington House
          39 Wellington Street
          Sheffield
          South Yorkshire S1 1XB
          Phone: 0114 279 8506
          Fax: 0114 279 7817
          Mobile: 07947 841 675

          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


MAYDAY GROUP: Recruitment Company Calls in Administrator
--------------------------------------------------------
Name: MAYDAY GROUP LIMITED
      (Company No 01993701)

Nature of Business: Recruitment Services

Address of Registered Office: 2 Shoreditch High Street, London E1
6PG

Trade Classification: 7450

Date of Appointment: February 2, 2005

Administrator's Name and Address: Stewart Trevor Bennett (IP No
1205), Berg Kaprow Lewis LLP, 35 Ballards Lane, London N3 1XW

                            *   *   *

MayDay Group caters support and recruitment services in London
and across the United Kingdom.  Visit
http://www.maydaygroup.co.ukfor more information.

CONTACT:  MAYDAY GROUP LIMITED
          Phone: 020 7432 7007
          Fax: 020 7287 0026
          E-mail: info@maydayexec.co.uk

          BERG KAPROW LEWIS LLP
          35 Ballards Lane,
          London N3 1XW
          Phone: 020 8922 9222
          Fax:   020 8922 9223
          Enquiry Line: 020 8922 9121
          Web site: http://www.bergkaprowlewis.co.uk


MEDIA PRINTING: Calls in Administrators from Vantis Business
------------------------------------------------------------
Name: MEDIA PRINTING COMPANY (HANTS) LTD
      (Company No 5017797)

Nature of Business: Printers

Date of Appointment: August 1, 2005

Administrators' Names and Address: Michael William Young and
Nigel John Hamilton-Smith (IP Nos 8077 and 2093), both of Vantis
Business Recovery, Torrington House, 47 Holywell Hill, St Albans,
Hertfordshire AL1 1HD

CONTACT:  MEDIA PRINTING CO.
          Media House Hawley Lane Ind Est Hawley La,
          Farnborough, GU14 8EH
          Phone: 01252 376274

          VANTIS BUSINESS RECOVERY
          Torrington House,
          47 Holywell Hill, St Albans,
          Hertfordshire AL1 1HD
          Phone: 01727 811111
          Fax: 01727 810057
          E-mail: nhamiltons@aol.com
          Web site: http://www.vantismt.com


MOBILE SECURITY: Members Resolve to Liquidate Biz
-------------------------------------------------
At an Extraordinary General Meeting of the Members of Mobile
Security Technology (MST) International Limited, duly convened,
and held at the offices of Sale Smith & Co. Limited, Carmella
House, 3 and 4 Grove Terrace, Walsall, West Midlands WS1 2NE, on
Wednesday 3 August 2005, at 10:30 a.m., the following
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
Eileen T F Sale, of Sale Smith & Co. Limited, Carmella House, 3
and 4 Grove Terrace, Walsall, West Midlands WS1 2NE, be and is
hereby appointed Liquidator for the purpose of such winding-up."

S Thomas, Chairman

CONTACT:  SALE SMITH & CO.
          Carmella House,
          3 & 4 Grove Terrace,
          Walsall, West Midlands WS1 2NE
          Phone: 01922 624777
          Fax: 01922 720528
          E-mail: etfs@salesmith.demon.co.uk


NAM RETAIL: Recruitment Agency Hires Administrators from KPMG
-------------------------------------------------------------
Name: NAM RETAIL SERVICES LIMITED
      (Company No 4428640)

Nature of Business: Recruitment Agency

Address of Registered Office: 11 Newmarket Court, Newmarket
Drive, Osmaston Business Park, Derby DE24 8NW

Date of Appointment: July 29, 2005

Administrators' Names and Address: Mark Jeremy Orton and James
Douglas Ernle Money (IP Nos 8846 and 1317), both of KPMG LLP, 1
The Embankment, Neville Street, Leeds LS1 4DW

                            *   *   *

NAM Retail Services is a specialist merchandising, storage and
retail support business, developed to provide a wide range of
services to the UK Retail Industry.  The company was established
in early 1999.  Visit http://www.nam-retail.com/home.htmfor more
information.

CONTACT:  NAM RETAIL SERVICES
          11 Newmarket Court
          Newmarket Drive
          Osmaston Business Park
          Derby DE24 8NW
          Phone: 01332 861 640
          Fax: 01332 861 641
          E-mail: jobs@nam-retail.com

          KPMG LLP
          1 The Embankment
          Neville Street
          Leeds
          West Yorkshire LS1 4DW
          Phone: 0113 231 3332
          Fax: 0113 231 3183
          E-mail: richard.fleming@kpmg.co.uk


NICHICON (EUROPE): Names Ernst & Young Liquidator
-------------------------------------------------
At an Extraordinary General Meeting of Nichicon (Europe) Limited,
duly convened, and held at Concorde Business Park, C2 Top 14,
2320 Schwechat, Austria, on 29 July 2005, the following Special
Resolution was duly passed:

"That the Company be wound up voluntarily, and that Patrick
Joseph Brazzill and Alan Lovett, of Ernst & Young LLP, 1 More
London Place, London SE1 2AF, be and they are hereby appointed
Joint Liquidators for the purposes of such winding-up and any
power conferred on them by law or by this Resolution may be
exercised and any act required or authorized under any enactment
to be done by them, may be done by them jointly or by each alone"
.

N Inoue, Chairman

CONTACT:  ERNST & YOUNG LLP
          1 More London Place
          London SE1 2AF
          Phone: +44 [0] 20 7951 2000
          Fax:   +44 [0] 20 7951 1345
          Web site: http://www.ey.com


OCC EUROPE: Bank of Scotland Appoints BDO Stoy Hayward Receiver
---------------------------------------------------------------
Company Names: OCC EUROPE LIMITED
               (Reg No 02597483)

               OCC GROUP LIMITED
               (Reg No 03116816)

Nature of Businesses: Production and Publication of Medical and
Educational Media Associated Conferencing to the Medical and
Pharmaceutical and Holding Company.

Trade Classification: 40

Date of Appointment of Joint Administrative Receivers: July 25,
2005

Name of Person Appointing the Joint Administrative Receivers:
Bank of Scotland Plc

Joint Administrative Receivers: Shagun Dubey and Shay Bannon
(Office Holder Nos 9216/01 and 8777/01), both of 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


0 DEGREES: Winding-up Gets Go Signal
------------------------------------
Company Name: 0 DEGREES LTD.
              Holland House,
              1-5 Oakfield, Sale,
              Cheshire, M33 6TT

Registration Number: 04361034

Court: High Court of Justice

Date of Filing Petition: December 23, 2004

No. of Matter: 007907 of 2004

Date of Winding-up Order: July 13, 2005

CONTACT:  Official Receiver
          1st Floor, Boulton House,
          17-21 Chorlton Street,
          Manchester, M1 3HY
          Phone: 0161 934 5400
          Fax: 0161 934 5450


ORION MEDIA: Bank Investments Appoints PwC Receiver
---------------------------------------------------
Name: ORION MEDIA MARKETING LIMITED
      (Reg No 02059662)

Trading Name: Orion

Nature of Business: Distributor of Computer Consumables

Trade Classification: SIC 7260

Date of Appointment of Administrative Receivers: July 29, 2005

Name of Person Appointing the Administrative Receivers: Royal
Bank Investments Limited

Administrative Receivers: Michael David Gercke and Colin Michael
Trevethyn Haig (Office Holder Nos 2360 and 7965), both of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT

                            *   *   *

Orion is the UK's largest specialist distributor and wholesaler
of computer supplies.  It supplies comprehensive range of IT
consumable products from over 100 brand manufacturers.  The
company also operates a multi-channel model that covers all
sectors of the market.  Visit http://www.orionmm.co.uk/for more
information.

CONTACT:  ORION MEDIA MARKETING LTD
          950 Great West Road
          Brentford TW8 9ES
          Middlesex
          Phone: 020 8847 5151
          Fax: 020 8568 2985
          E-mail: enquiries@orion.net

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


PREMIER CHAUFFEUR: Calls in Liquidator
--------------------------------------
At an Extraordinary General Meeting of the Members of Premier
Chauffeur Services Limited, duly convened, and held at Langley
House, Park Road, London N2 8EX, on 25 July 2005, the following
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
Alan Simon, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

D Panayiotou, Director


PRIMARY SYSTEMS: Meeting of Creditors Set End of August
-------------------------------------------------------
The creditors of Primary Systems Limited will meet on August 31,
2005 at 10:00 a.m.  It will be held at Baker Tilly, First Floor,
5 Old Bailey, London EC4M 7AF.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to B. A. Mackay and M. R. M. Wild of Baker Tilly,
First Floor, 5 Old Bailey, London EC4M 7AF not later than 12:00
noon, August 30, 2005.

CONTACT:  BAKER TILLY
          First Floor
          5 Old Bailey
          London EC4M 7AF
          Web site: http://www.bakertilly.co.uk


READCO 299: Holding Company Hires Administrators from PwC
---------------------------------------------------------
Name: READCO 299 LIMITED
      (Company No 4213395)

Nature of Business: Holding Company

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

Date of Appointment: July 27, 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

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


RED LETTER: Names Kroll Limited Administrator
---------------------------------------------
Name: RED LETTER DAYS LIMITED
      (Company No 02389878)

Nature of Business: 5261-Retail Sale via Mail Order Houses

Address of Registered Office: 77 Muswell Hill, London N10 3RE

Date of Appointment: August 1, 2005

Administrators' Names and Address: Andrew J. Pepper and Alastair
P. Beveridge (IP Nos 9050 and 8991), both of Kroll Limited, 10
Fleet Place, London EC4M 7RB

                            *   *   *

Created in 1989, Red Letter Days pioneered the concept of giving
experiences as unforgettable gifts. It offers an unrivalled
choice of over 1,000 experiences across the United Kingdom and
abroad.  Visit http://www.redletterdays.co.uk/for more
information.

CONTACT:  RED LETTER DAYS LIMITED
          Phone: 0870 444 4004

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


SABRE ACCESS: Appoints Leonard Curtis Liquidator
------------------------------------------------
At an Extraordinary General Meeting of Sabre Access MDI Limited,
Sabre Access Commissioning Limited, Sabre Access Locking Limited,
Sabre Access Entry Systems Limited, and Sabre Access Plc, duly
convened, and held at Leonard Curtis & Co, One Great Cumberland
Place, Marble Arch, London W1H 7LW, on 29 July 2005, the
following Extraordinary Resolution was duly passed:

"That it has been proved to the satisfaction of the 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 S D Swaden, of Leonard Curtis & Co, One Great Cumberland
Place, Marble Arch, London W1H 7LW, be and is hereby appointed
Liquidator of the Companies for the purposes of such
winding-ups."

G F Oliver, Director

CONTACT:  LEONARD CURTIS & CO
          One Great Cumberland Place,
          Marble Arch, London W1H 7LW
          Phone: 020 7535 7000
          Fax:   020 7723 6059
          E-mail: solutions@leonardcurtis.co.uk
          Web site: http://www.leonardcurtis.co.uk


SAMMON PUBLISHING: Liquidator from Harris Lipman Moves in
---------------------------------------------------------
At an Extraordinary General Meeting of the Members of Sammon
Publishing Limited, duly convened, and held on 28 July 2005, at
11.45 am, at Atlantic House, Imperial Way, Reading RG2 0TD, the
following Extraordinary Resolution was duly passed:

"That the Company cannot, by reason of its liabilities, continue
its business, and 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, 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 LLP, Atlantic House, Imperial Way, Reading RG2 0TD, as
Liquidator, was ratified.

C Y Wilson, 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


SANTOS LEATHER: Appoints Begbies Traynor Liquidator
---------------------------------------------------
At an Extraordinary General Meeting of Santos Leather Plc, duly
convened, and held at 151 Deansgate, Manchester M3 3BP, on 1
August 2005, the following Special Resolution was duly passed:

"That the Company be wound up voluntarily, and that Stephen L
Conn, of Begbies Traynor, be and is hereby appointed Liquidator
for the purpose of such winding-up."

N J Rosenthal, Chairman

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


S C DIGITAL: Administrators from Tenon Recovery Move in
-------------------------------------------------------
Name: S C DIGITAL LIMITED
      (Company No 04105377)

Nature of Business: Printing

Address of Registered Office: 45 St John's Road, Tunbridge Wells,
Kent TN4 9TP

Date of Appointment: August 4, 2005

Administrators' Names and Address: T. J. Binyon and S. R. Thomas
(IP Nos 9285 and 8920), both of Tenon Recovery, 73 Baker Street,
London W1U 6RD

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


SCOTTISH EAGLE: Creditors Meeting Set Next Month
------------------------------------------------
         IN THE HIGH COURT OF JUSTICE CAHNCERY DIVISION
                 COMPANIES COURT No. 4433 of 205
  IN THE MATTER OF THE SCOTTISH EAGLE INSURANCE COMPANY LIMITED
           AND IN THE MATTER OF THE COMPANIES ACT 1985

Notice is hereby given that, by an order dated 12 July 2005, made
in the above matter, the Court has directed that a meeting of the
Scheme Creditors be held on Monday 5 September 2005, at the
offices of PricewaterhouseCoopers LLP, 1 Embankment Place, London
WC2N 6RH, United Kingdom commencing at 11:00 a.m. (UK time).  All
Scheme Creditors are requested to attend at such place and time
either in person or by proxy.

The purpose of the Creditors' Meeting is to consider, and if
thought fit, to approve (with or without modification) a solvent
scheme of arrangement proposed to be made between the Company and
the Scheme Creditors' pursuant to section 425 of the Companies
Act 1985.  Scheme Creditors may vote in person at the Creditors'
Meeting or may appoint another person, whether a Scheme Creditor
or not, as their proxy to attend and vote in their place.
Corporations can attend the Creditors' Meeting only by proxy or
by duly authorized representative.

Scheme Creditors are requested to lodge Voting Forms with
PricewaterhouseCoopers LLP at Plumtree Court, London EC4A 4HT,
United Kingdom (marked for the attention of James Allison) on or
before 2 September 2005.  Voting forms may also be handed in at
the registration desk at the Creditors' Meeting at any time prior
to the taking of the poll at the Creditors' Meeting.  A copy of
the Voting form, if sent by fax to PricewaterhouseCoopers (+44
(0) 20 7804 4394, marked for the attention of James Allison), or
sent by e-mail in ".pdf" format (or any other format readily
accessible by e-mail to scottisheaglesolventscheme@uk.pwc.co.uk)
will be accepted if legible.  However, the use of e-mail is
entirely at each Scheme Creditors' own risk and Scheme Creditors
sending copy Voting Forms by e-mail are advised to lodged or hand
in the originals as set out above.

Copies of the Schemed and the statement required to be provided
to Scheme Creditors pursuant to section 426 of the Companies Act
1985, as well as blank voting Forms, may be obtained at
http://www.scottisheaglessolventscheme.co.ukor by contacting
James Allison of PricewaterhouseCoopers LLP at Plumtree Court
address.

The chairman of the Creditors' Meeting will be Dan Schwarzmann,
or, failing him, Claire Whitcombe, both of PricewaterhouseCoopers
LLP (or, failing them, a partner of PricewaterhouseCoopers LLP).

The requisite majority for approving the Scheme is a majority in
number representing three-fourths in value of the Scheme
Creditors present and voting either in person or by proxy at the
Creditors' Meeting.  If approved by the requisite majority of
Scheme Creditors, the Scheme will not become effective until the
Court pronounces an order sanctioning the Scheme and an office
copy of the Courts order is presented to the Registrar of
Companies for registration.

Further information may be obtained by contacting:
Steve Crawley or Vanessa Robinson of The Scottish Eagle Insurance
Company Limited, 5th Floor, Cutlers Exchange, 123 Houndsditch,
London EC3A 7PQ, United Kingdom (Phone: +44 (0) 20 7626 4266,
E-mail: solventscheme@scottishlion.co.uk) or Bill Vince or James
Allison of PricewaterhouseCoopers LLP, Plumtree Court, London
EC4A 4HT, United Kingdom (Phone: +44 (0) 20 7583 5000, E-mail:
scottisheaglesolventscheme@uk.pwc.co.uk)


SHIRAZ.CO.UK LIMITED: Members Opt for Winding-up
------------------------------------------------
At an Extraordinary General Meeting of the Members of
Shiraz.Co.Uk Limited (t/a Chelmsford Electronics), duly convened,
and held at Trafalgar House, Grenville Place, London NW7 3SA, on
1 August 2005, the following 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
Jeffrey Mark Brenner, of B & C Associates, Trafalgar House,
Grenville Place, Mill Hill, London NW7 3SA, is hereby appointed
Liquidator for the purposes of such winding-up."

M S Sherbaz, Director

CONTACT:  B & C ASSOCIATES
          Trafalgar House
          Grenville Place
          Mill Hill
          London NW7 3SA
          Phone: 0208 906 7730
          Fax: 0208 906 7731
          E-mail: filippa@bcassociates.uk.com


SILVERSTONE PERFORMANCE: In Liquidation
---------------------------------------
At an Extraordinary General Meeting of Silverstone Performance
Vehicles Limited, convened and held at Wilder Coe, 12th Floor,
Southgate House, St George's Way, Stevenage, Hertfordshire SG1
1HG, on 4 August 2005, at 11:00 a.m., the following Resolutions
were duly passed, as an Extraordinary Resolution and as Ordinary
Resolutions 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, that Mark
Pearce Riley and Norman Cowan, of Wilder Coe, 12th Floor,
Southgate House, St George's Way, Stevenage, Hertfordshire SG1
1HG, 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."

M Lee, Chairman

CONTACT:  WILDER COE
          12th Floor
          Southgate House
          St. George's Way
          Stevenage
          Hertfordshire SG1 1HG
          Phone: 01438 847 200
          Fax: 01438 847 150
          E-mail: insol@wildercoe.co.uk


SOLOMON CONSTRUCTION: Winds up Voluntarily
------------------------------------------
At an Extraordinary General Meeting of the Members of Solomon
Construction Ltd, duly convened, and held at 43 Blackstock Road,
London N4 2JF, on 4 August 2005, the following 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, of 43 Blackstock Road, London N4 2JF,
be and he is hereby nominated Liquidator for the purposes of the
winding-up."

C Solomonides, Chairman

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


SPARKHOME LTD.: Winds up Under Court Order
------------------------------------------
Company Name: SPARKHOME LTD.
              38 Chalk Farm Road,
              London, NW1 8AJ

Registration Number: 03892418

Court: High Court of Justice

Date of Filing Petition: June 3, 2005

No. of Matter: 003659 of 2005

Date of Winding-up Order: July 27, 2005

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


STEELRAY NO.228: Files for Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of Steelray
No.228 Limited, duly convened, and held at Richmond Point, 43
Richmond Hill, Bournemouth, Dorset BH2 6LR, on 29 July 2005, the
following Ordinary Resolutions were duly passed:

"That the Company be wound up voluntarily, and that the
Liquidator be authorized and instructed, pursuant to section 110
of the Insolvency Act 1986, to carry into effect the terms of the
Reorganization Agreement [reached on Aug. 9] between the
Shareholders in the Company (1) the Company (2) Steelray No.229
Limited (3) and TLS (Holdings) Limited (4), and that, without
limitation, the Liquidator shall, pursuant to section 110(2) of
the Insolvency Act 1986, be authorized to transfer the whole or
part of the property of the Company to any other Company or
Companies in exchange for Shares in the transferee Company, to be
allotted to the Members of this Company, as in his absolute
discretion he may determine, but subject to the articles of
association of the Company.

"That Mr. T C Evans, of Rogers Evans, is hereby appointed
Liquidator, that the Liquidator's remuneration shall be fixed by
reference to the time properly given by the Liquidator and his
staff in attending to matters arising in the winding-up,
including those falling outside his statutory duties undertaken
at the request of the Members, together with VAT.  However, such
time costs are not to exceed the sum of GBP2,500 plus VAT without
the further approval of the Members, and that in addition the
Liquidator be authorized to draw disbursements plus VAT, which
will include such expenses that are of an incidental nature and
are directly incurred in attending to matters arising in the
winding-up and which will include cost allocations on services
supplied by the Liquidator or his firm in accordance with his
prevailing published terms and conditions, together with VAT."

R P T Haycock, Chairman

CONTACT:  ROGERS EVANS
          20 Brunswick Place
          Southampton
          Hampshire SO1 2AQ
          Phone: 023 8033 5888
          Fax: 023 8033 4400
          E-mail: tevans@rogersevans.co.uk


STRAPSHAW LIMITED: Names Baker Tilly Liquidator
-----------------------------------------------
At an Extraordinary General Meeting of the Members of Strapshaw
Limited, duly convened, and held at Baker Tilly, 65 Fox Hollies
Road, Sutton Coldfield, West Midlands B76 2RN, on 1 August 2005,
the following Resolutions were duly passed, as Special
Resolutions and as an Ordinary Resolution respectively:

"That the Company be wound up voluntarily and that Guy Edward
Brooke Mander and Phillip Hartland Allen, of Baker Tilly, City
Plaza, Temple Row, Birmingham B2 5AF, be and are hereby appointed
Joint Liquidators for the purposes of such winding-up, and that
the Joint Liquidators be and are hereby authorized under the
provisions of section 165 of the Insolvency Act 1986, to exercise
the powers laid down in Schedule 4, Part 1 of the said Act, that
pursuant to section 9 of the Companies Act 1985, if necessary and
appropriate, the articles of association of the Company be
amended, as necessary to permit the distribution of the whole or
any part of the assets of the Company, in specie, or in kind,
that in accordance with the provisions of the Company's articles
of association, the Joint Liquidators be and are hereby
authorized to divide and distribute among the Members as
appropriate, in specie, or in kind, the whole or any part of the
assets of the Company and to determine how such division and
distribution shall be carried out as between the Members, and
that the Liquidator's remuneration be on the basis of the time
necessarily spent by them in the discharge of their duties, such
remuneration to be drawn as and when funds allow up to a maximum
of GBP7,500, and that any remuneration in excess of this sum, be
authorised in Meeting before it is drawn."

M J Smith, Chairman

CONTACT:  BAKER TILLY
          City Plaza
          Temple Row
          Birmingham
          West Midlands B2 5AF
          Phone: 0121 214 3100
          Fax: 0121 214 3101


SUNRULE LIMITED: In Voluntary Winding-up
----------------------------------------
At an Extraordinary General Meeting of Sunrule Limited, duly
convened, and held at 1 Bentinck Street, London W1U 2ED, on 29
July 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
Robert M Woolfson, of 1 Bentinck Street, London W1U 2ED, be and
is hereby appointed Liquidator for the purposes of such
winding-up."

P Dimopoulos


SUSAN HAMILTON: Appoints Berg Kaprow Lewis Administrator
--------------------------------------------------------
Name: SUSAN HAMILTON PERSONNEL SERVICES LIMITED
      (Company No 01178482)

Nature of Business: Recruitment Services

Address of Registered Office: Heathcock Court, 415 Strand, London
WC2R 0NS

Trade Classification: 7450

Date of Appointment: February 2, 2005

Administrator's Name and Address: Stewart Trevor Bennett (IP No
1205), Berg Kaprow Lewis LLP, 35 Ballards Lane, London N3 1XW

                            *   *   *

Susan Hamilton Personnel is one of the most successful
independent recruitment companies, providing tailored solutions
to large corporates, SME's and Parliamentary Offices across
London and the Home Counties.  Visit
http://www.susanhamilton.co.uk/for more information.

CONTACT:  SUSAN HAMILTON PERSONNEL SERVICES LIMITED
          Heathcock Court
          415 Strand
          London WC2R 0NS
          Phone: 020 7420 5454
          Fax: 020 7420 5455
          E-mails: city@susanhamilton.co.uk or
                   westend@susanhamilton.co.uk

          BERG KAPROW LEWIS LLP
          35 Ballards Lane,
          London N3 1XW
          Phone: 020 8922 9222
          Fax:   020 8922 9223
          Enquiry Line: 020 8922 9121
          Web site: http://www.bergkaprowlewis.co.uk


SUTTON FLOORING: Court Approves Liquidation
-------------------------------------------
Company Name: SUTTON FLOORING LTD.
              52 Great Eatern Street,
              London, EC2A 3EP

Registration Number: 04290068

Court: High Court of Justice

Date of Filing Petition: June 13, 2005

No. of Matter: 003865 of 2005

Date of Winding-up Order: July 27, 2005

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


THE WINE: Appoints The P&A Partnership Liquidator
-------------------------------------------------
At an Extraordinary General Meeting of The Wine Bureau Limited,
duly convened, and held at The Ramada Wetherby Hotel, Leeds Road,
Wetherby LS22 5HE, on 27 July 2005, at 10:45 a.m., the following
Extraordinary Resolutions were duly passed:

"It has been proved to the satisfaction of the Meeting that this
Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same should be wound
up, and that the Company be wound up accordingly, that Allan
Cooper and Derek Leslie Woolley, of The P&A Partnership, 93 Queen
Street, Sheffield S1 1WF, duly qualified under the Insolvency Act
1986, be and are hereby appointed the Liquidators of the Company
for the purposes of such winding-up, that any act required or
authorized to be done by the Liquidators is to be done by any one
or more of the Liquidators for the time being in office, and that
at a subsequent Meeting of Creditors, duly convened, and held
pursuant to sections 98, 99, 100 and 101 of the Insolvency Act
1986, the Resolutions for voluntary liquidation and the
appointment of Allan Cooper and Derek Leslie Woolley were
confirmed."

P Hopkins, Chairman

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


THREE IN ELEVEN: Court Okays Liquidation
----------------------------------------
Company Name: THREE IN ELEVEN LTD.
              93 Queen Street,
              Sheffield, S1 1WF

Registration Number: 02774804

Court: High Court of Justice

Date of Filing Petition: June 10, 2005

No. of Matter: 003823 of 2005

Date of Winding-up Order: July 11, 2005

CONTACT:  Official Receiver
          5th Floor, South Block,
          City Plaza, Pinfold Street,
          Sheffield, S1 2GU
          Phone: 0114 221 2700
          Fax: 0114 221 2750


TSCP LTD.: Opts for Liquidation
-------------------------------
Company Name: TSCP LTD.
              Unit 17 Linear Business Park,
              Valley Road, Cinderford,
              Gloucestershire, GL14 3HE

Registration Number: 04185223

Court: High Court of Justice

Date of Filing Petition: June 7, 2005

No. of Matter: 003705 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          21-23 London Road,
          Gloucester, GL1 3HB
          Phone: 01452 521658
          Fax: 01452 310910


TWINLAB CORPORATION: Court Refuses to Stay Confirmed Plan
---------------------------------------------------------
The Honorable Jed S. Rakoff of the U.S. District Court for the
Southern District of New York denied the emergency motion filed
by three class claimants in Twin Laboratories Inc., n/k/a TL
Administration Inc., and its debtor-affiliates chapter 11 case,
for a stay of orders from the Bankruptcy Court:

    (a) disallowing their class claims against the Debtors; and

    (b) confirming the Debtors' First Amended Joint Plan of
        Liquidation.

The Cirak, Lackowski, and Barr class claimants asked for a stay
of the orders pending the disposition of their appeals.

Judge Rakoff denied a stay pending appeal because the claimants
failed to show that they have a substantial likelihood of success
on their appeals.

The claimants didn't show Judge Rakoff the public interest would
be harmed if the stays weren't granted either.  Judge Rakoff says
that the public interest is, in fact, served by rejecting the
claimants stay motion because creditors expect to receive initial
distributions from the Debtors within days after Plan
Confirmation.

The District Court also disputed the claimants' assertion that
the Courts failed to make findings warranting the release of
certain third-party defendants from their liabilities in exchange
for funds contributed to the Debtors' Plan.  Judge Rakoff
stressed that the Courts made specific factual findings that the
third-party, non-debtor release is vital to the Debtors' Plan.

The U.S. Bankruptcy Court for the Southern District of New York
confirmed the Debtors' First Amended Joint Plan of Liquidation on
July 26, 2005.

The American International Specialty Lines Insurance Company and
certain third party defendants will fund a significant portion of
the distributions provided in the Plan.

American International and the third party defendants, mostly
distributors of the Debtors' Ephedra-containing products, will co
ntribute approximately $16.7 million to the Ephedra Personal
Injury Trust created pursuant to the confirmed Plan.  The third
party contributions brings the recovery of uninsured and
under-insured personal-injury and wrongful-death claimants up to
an estimated range of 49%-65% of the value of their claims.

As part of the deal, the settling third parties will be released
from all claims relating to the 2002-2004 Ephedra PI Claims and
other claims in connection with the Debtors' ephedra-containing
products.

                 July 20 Order Expunging Claims

The District Court removed the Cirak, Lackowski, and Barr class
claims from the allowed claims in the Debtors' Plan because the
three claimants had neglected to diligently move their claims
forward prior to the confirmation of the Debtors' Plan and
because they had failed to meet the requirements of Rule 23 for
class certification.

The Debtor's liquidating plan had already been submitted for a
vote of creditors before the claimants asked the Bankruptcy Court
to exercise its judgment under Rule 9014 for class certification.

Judge Rakoff explains that the granting of the three class action
claims at a late juncture would disrupt the prompt execution of
the Debtor's Plan and delay the distribution to its creditors.

Even if the claimants had filed their class claims, the District
Court contends that their claims will still be disallowed because
they had failed to meet the requirements of Rule 23 for class
certification.  To satisfy Rule 23, the claimants need to show,
among other things, that a class action is superior to other
available methods for the fair and efficient adjudication of
their claims.

Judge Rakoff stated that bankruptcy is superior to a class action
because it consolidates all claims in one forum and allows
claimants to file proofs of claim without counsel and at
virtually no cost.  Since superiority of the class action is lost
in bankruptcy, only compelling reasons for allowing a particular
opt-out class claim can justify applying Rule 23.  The Court did
not find any compelling reason to apply the rule.

                     The Class Claimants

The Cirak Class

The Cirak claimants assert a $27 million general unsecured claim
against the Debtors in connection with a Class Action Complaint
commenced in March 2004.

In the adversary proceeding, the Cirak claimants alleged that the
Debtors falsely advertised that Steroid Hormones are effective
for promoting muscle growth.  The claimants asserted causes of
action for:

   (a) unjust enrichment;

   (b) violation of the Little FTC acts due to the Debtor's
       deceptive acts and practices; and

   (c) violations of the federal Racketeer Influenced and
       Corrupt Organization Act.

The Debtors First Amended Joint Plan of Liquidation classified
the Cirak class claim as a General Unsecured Claim.

The claimants objected to the provisions of the Plan because it
allegedly:

   (a) lacks adequate information regarding their claims;

   (b) caps disbursement on their $27 million claim at $350,000;

   (c) discriminates among the 2002-2004 Ephedra PI Claims in
       Class 4 and their claim, which is treated as a Class 5
       General Unsecured Claim;

   (d) includes releases and injunctions in favor of
       third parties; and

   (e) provides a distribution to equity holders.

The Barr Class

The Barr class claimants commenced a class action suit against
the Debtors on August 23, 2002.  The suit, filed with the
California Superior Court of Orange County, alleges that the
Debtors violated State consumer fraud, false advertising and
unfair competition laws in connection with its marketing of
dietary supplements and weight loss products containing ephedra.

The products were marketed to consumers as safe, natural and part
of a healthy lifestyle.  The claimants say that the Debtors'
advertising concealed significant health risks from these
products.

The Barr class claimants object to the provisions of the Plan on
substantially the same reason presented by the Cirak class,
namely: the lack of adequate information, payment caps,
discrimination among the 2002-2004 Ephedra PI Claims and Class 5
General Unsecured Claim and the releases and injunctions in favor
of third parties.

On Sept. 4, 2003, Twinlab Corporation, Twin Laboratories Inc. and
Twin Laboratories (UK) Ltd., commenced voluntary cases under
chapter 11 of title 11 of the United States Code in the United
States Bankruptcy Court for the Southern District of New York.
These chapter 11 cases are being jointly administered under
chapter 11 case number 03-15564 and are pending before the
Honorable Cornelius Blackshear.

Also, on Sept. 4, 2003, the Companies entered into certain asset
purchase agreement with IdeaSphere, Inc. of Grand Rapids,
Michigan, pursuant to which the Companies sold substantially all
of their assets.  The sale closed on Dec. 9, 2003.  In connection
with the sale, the Debtors obtained an order from the Court
authorizing them to change their names.  Twinlab Corporation
changed its name to TL Administration Corporation, Twin
Laboratories Inc., changed its name to TL Administration Inc.,
and Twin Laboratories (UK) Ltd., changed its name to TL
Administration (UK) Ltd.

As of June 30, 2005, TL Administration Corporation's balance
sheet reflected a $53,703,000 equity deficit.  At the end of the
same period, TL Administration, Inc., stockholders' deficit
amounted to $20,722,000.  TL Administration (UK) Ltd. reported a
$1,277,000 equity deficit as of the end of the second quarter.

CONTACT:  TWINLAB CORPORATION
          150 Motor Parkway
          Suite 210
          Hauppauge, NY 11788
          Phone: (800) 645-5626
                 (631) 467-3140
          Web site: http://www.twinlab.com/


TWINSTAR SERVICES: Winds up Voluntarily
---------------------------------------
At an Extraordinary General Meeting of Twinstar Services Limited,
duly convened, and held at the offices of Elwell Watchorn &
Saxton LLP, 109 Swan Street, Sileby, Leicestershire LE12 7NN, on
3 August 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
David John Watchorn, of Elwell Watchorn & Saxton LLP, 109 Swan
Street, Sileby, Leicestershire LE12 7NN, be and is hereby
appointed Liquidator for the purposes of such winding-up."

D Marshall, 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


ULTRA-BYTE SOLUTIONS: Runs out of Cash; Applies for Liquidation
---------------------------------------------------------------
At an Extraordinary General Meeting of the Members of Ultra-Byte
Solutions Limited, duly convened, and held at Baylis House, Stoke
Poges Lane, Slough SL1 3PB, on 25 July 2005, the following
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
Gagen Dulari Sharma, be and is hereby appointed Liquidator for
the purposes of such a winding-up."

R Simpson, Director


UNITEC SERVICES: Goes into Liquidation
--------------------------------------
At an Extraordinary General Meeting of Unitec Services Limited,
Unitec Services Holdings Limited, Unitec Industrial Limited, duly
convened, and held at Pedmore House, Ham Lane, Pedmore,
Stourbridge DY9 0YA, on 25 July 2005, the following 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 Companies cannot, by reason of their liabilities, continue
their business, and that it is advisable to wind up the same, and
that accordingly the Companies be wound up voluntarily, and that
Roderick Graham Butcher, of Butcher Woods, 79 Caroline Street,
Birmingham B3 1UP, be and is hereby appointed Liquidator of the
Companies for the purpose of the voluntary windings-up."

At a Meeting of Creditors held on 25 July 2005, the Creditors
confirmed the appointment of Roderick Graham Butcher as
Liquidator, and that anything required or authorized to be done
by the Liquidator be done by him.

J Henry, Chairman

CONTACT:  BUTCHER WOODS
          79 Caroline Street
          Birmingham
          West Midlands
          E-mail: rod.butcher@butcher-woods.co.uk
          Phone: 0121 236 6001
          Fax: 0121 236 5702


UNIVERSAL ENGINEERING: Sets Creditors Meeting Next Week
-------------------------------------------------------
The creditors of Universal Engineering (Nottingham) Limited
(Company No 00688267) will meet on August 23, 2005 at 10:00 a.m.
It will be held at St Nicholas House, Park Row, Nottingham NG1
6FQ.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to James Douglas Ernie Money and Allan Watson Graham,
both of KPMG LLP, St Nicholas House, Park Row, Nottingham NG1 6FQ
not later than August 22, 2005, 12:00 noon.

CONTACT:  UNIVERSAL ENGINEERING
          Unit 17, Soho Mills Industrial Estate
          Wooburn Green
          High Wycombe HP10 0PF
          Buckinghamshire
          Phone: 01628 524471
          Fax: 01628 819064

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


WESSEX ELECTRONICS: Hires Administrators from Harrison
------------------------------------------------------
Name: WESSEX ELECTRONICS LIMITED
      (Company No 00734148)

Nature of Business: Electronics Manufacturer

Address of Registered Office: 114 North Street, Downend, Bristol
BS16 5SE

Date of Appointment: August 1, 2005

Joint Administrators' Names and Address: P. R. Boyle and J. C.
Sallabank (IP Nos 008897 and 008099), of Harrisons, 4 St Giles
Court, Southampton Street, Reading, Berkshire RG1 2QL

                            *   *   *

Phillip Westwood is the managing director of Wessex Electronics
while Malcolm Butt is the sales director.  Visit
http://www.wessexelectronics.co.ukfor more information.

CONTACT:  WESSEX ELECTRONICS LTD
          114-118 North Street
          Downend
          Bristol BS16 5SE
          Avon
          Phone: 0117 957 1404
          Fax: 0117 957 3843

          HARRISONS
          4 St Giles Court, Southampton Street,
          Reading RG1 2QL
          Phone: 0118 951 0798
          Fax:   0118 939 4409
          E-mail: info@harrisons.uk.com
          Web site: http://www.harrisons.uk.com


WHERE'S THE PARTY: Calls in Joint Liquidators
---------------------------------------------
At an Extraordinary General Meeting of the Members of Where's The
Party Limited, duly convened, and held at Martins Bank Chambers,
Banbury, Oxfordshire OX16 8EG, on 29 July 2005, the following
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
Gavin Geoffrey Bates and Peter John Windatt, of BRI Business
Recovery and Insolvency, 100-102 St James Road, Northampton NN5
5LF, be and they are hereby appointed Joint Liquidators for the
purpose of the winding-up."

S Chadwick, Director

CONTACT:  BRI BUSINESS RECOVERY AND INSOLVENCY
          100-102 St James Road,
          Northampton NN5 5LF
          Phone: 01604 754352
          Fax: 01604 751660
          E-mail: pwindatt@briuk.co.uk


WILSON PROPERTIES: Winding-up Petition Gets Go-ahead
----------------------------------------------------
Company Name: WILSON PROPERTIES U.K. LTD.
              Kings Cottage,
              37b Kings Street, West Deeping,
              Peterborough, PE6 9HP

Registration Number: 04844533

Court: Liverpool District Registry

Date of Filing Petition: May 25, 2005

No. of Matter: 50 of 2005

Date of Winding-up Order: July 18, 2005

CONTACT:  Official Receiver
          1st Floor, Cobourg House,
          Mayflower Street,
          Plymouth, PL1 1DJ
          Phone: 01752 635200
          Fax: 01752 635222


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

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

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


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


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


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


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


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


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


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


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


NETHERLANDS
-----------
Baan Company N.V.         BAAN        (8)         610       46
Numico N.V.               NUMC      (422)       1,982      376
United Pan-Euro Air       UPC     (5,266)       5,180   (8,730)


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


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


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


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


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


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


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


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

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


                            *********


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

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

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

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

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

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


                 * * * End of Transmission * * *