TCREUR_Public/050817.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

           Wednesday, August 17, 2005, Vol. 6, No. 162

                            Headlines

G E R M A N Y

COMMERZBANK AG: CEO Dragged into Money Laundering Scandal
CONTEX-BAU: Bremen Firm Succumbs to Bankruptcy
DRESDNER BANK: Posts Best Half-year Result After Sale to Allianz
DUERR AG: Unveils Plan to Streamline Core Business
DUERR AG: Moody's Hints of Possible Downgrade

FRESENIUS MEDICAL: Fresenius AG Supports Citadel's Countermotion
HAAF VERWALTUNGS: Proofs of Claim Due Friday
HSS HOLZ: Creditors Meeting Set Next Month
IMMOBILIEN TREUHAND: Court to Verify Claims October
IMMOVENTIS GESELLSCHAFT: Under Bankruptcy Administration

LION BIOSCIENCE: On Track to Break even this Year
MUELLER GERUESTVERLEIH: Creditors' Claims Due September
NORDEX AG: Supervisory Board Extends Term of CFO, COO
REALTECH AG: Remains Loss-making in First Half
TAT-DONER: Calls in Interim Administrator

UCR UMWELTFORSCHUNG: Creditors to Meet 4th Week of September
WCM GROUP: Suspends Merger Plans with Subsidiary
WOBA GMBH: Marketing Business Goes Bust


H U N G A R Y

MALEV HUNGARIAN: Must Sell Assets to Break even this Year


I T A L Y

ALITALIA SPA: Transport Minister Vows to 'Stop' Strike
SAFILO SPA: Fitch Affirms 'CCC+' Rating on Senior Notes


L I T H U A N I A

MAZEIKIU NAFTA: Reports LTL378.9 Mln Profit in First Six Months


N E T H E R L A N D S

ROYAL SHELL: 'A' Shares Down to 4,080,886,546


R U S S I A

AGRO-PROM-KHIMIYA: Insolvency Manager from Adygeya Enters Firm
ARCHITECTURAL INDUSTRIAL: Under Bankruptcy Supervision
FACTORY OF LARGE PANELS: Public Auction Set Today
NERUDNIK: Appoints A. Andreev Insolvency Manager
PROGRESS-CENTRE: Bankruptcy Hearing Set Next Week

RAZVETYEVSKOYE: Succumbs to Bankruptcy
ROSSGOSSTRAKH-BIROBIDZHAN: Declared Insolvent
SOKOL: Bankruptcy Supervision Procedure Begins
SPETS-STROY: Bankruptcy Hearing Set November
UFIMSKIY REINFORCED: Undergoes Bankruptcy Supervision Procedure


S W I T Z E R L A N D

SWISSAIR: KPMG to Pay Back CHF35.5 Mln to Liquidator


U K R A I N E

AGRO-ISKRA: Insolvency Manager Takes over Helm
EVEREST: Falls into Bankruptcy
GAZBUDENERGO: Under Bankruptcy Supervision
LVIV' RUBBER: Court Appoints Liquidator
MGKBUD: Zaporizhya Court Opens Bankruptcy Proceedings

RASSVET-2: Temporary Insolvency Manager Comes in
RUNO: Court Names Temporary Insolvency Manager
TAHO-TP: Succumbs to Bankruptcy
TRADE HOUSE: Declared Insolvent
VITOL-KA: Bankruptcy Supervision Starts

* 20 Local Banks Undergoing Liquidation


U N I T E D   K I N G D O M

ABRIDGE ENTERPRISES: Hires Administrators from Begbies Traynor
ANSA TRADING: Winding-up Gets Go Signal
A.P. PROFESSIONAL: In Voluntary Liquidation
ARGYLE INVESTMENTS: Gears up for Liquidation
ARTWAY LIMITED: Members Opt for Winding-up

BAE SYSTEMS: Wins US$122 Million U.S. Army Contract
BAYMOVER LTD.: Winds up Under Court Order
BENTSFIELD AIR: Members Decide to Liquidate Firm
BLUE PYJAMAS: Court Approves Liquidation
BOVINGDON VEHICLE: EGM Decides on Winding-up

B & R COMMERCIAL: Administrators from Deloitte & Touche Move in
BRITISH BENZOL: Administrators Takes over Business
CAPEL MANOR: Crumbles to Liquidation
CGU INTERNATIONAL: Meeting Set October
CLEAN AND TIDY: Court Okays Liquidation

CORPORATE SYSTEMS: Names Grant Thornton Administrator
CORUS GROUP: Venture Unveils 80% Rise in Steel Can Recovery
CRE8 SURFACES: Opts for Liquidation
DIGNITY PLC: To Release Interim Results Next Month
ENODIS PLC: 'BB/B+' Ratings Withdrawn After Bond Tender

E YOU LIMITED: Appoints Joint Liquidators
GLOBAL MANUFACTURING: Winding-up Receives Green Light
GRANVILLE TECHNOLOGY: Court Decision Saves 165 Jobs
GREENSIX LIMITED: Court Says Yes to Liquidation
HNS CONSULTANTS: In Liquidation

HOQUE & COMPANY: Calls in Liquidator
HUDSONS (STORAGE): Winds up Voluntarily
IDENT EYECARE: Liquidator from Antony Batty Enters Firm
INNATE CONSULTANCY: Calls in Liquidator
INNOVATE MOTORSPORT: Members Opt for Liquidation

INNOVATE SPORT: Members Pass Winding-up Resolution
J. S. ARNOLD: Liquidators from Vantis Move in
KIWI DIGITAL: Files for Liquidation
MASS SPECTROMETRY: Appoints DTE Leonard Curtis Administrator
MJW HANDLING: Calls in Administrators from UHY Hacker Young

M P SERVICES: Administrators from P&A Take over Operation
NTL INCORPORATED: Hires Ex-Lloyds TSB Boss as New COO
PAUL FOX: Liquidator Moves in
PERCY DANIEL: Names Moore Stephens Liquidator
PETE COSSIE: EGM Passes Winding-up Resolutions

PRESELI ELECTRICAL: Goes into Liquidation
REGENCY PROPERTY: Calls in Liquidators from Portland Business
SUPREME TRAVEL: Travel Agency Hires Administrator
TACK 4 U: In Voluntary Liquidation
TASKLAND LIMITED: Firm Names Administrators from Tenon Recovery

THE FLOORING: Members Resolve to Liquidate Firm
THE KITCHEN: Appoints Tenon Recovery Liquidator
THEMOTORTRADE.COM LIMITED: In Liquidation
THYME & SPACE: Restaurant Liquidates
TRACKCOM LIMITED: Members Opt for Liquidation

TRIKKE UK: Appoints Findlay James Administrator
TUNE INN LIMITED: EGM Passes Winding-up Resolutions
UK BLACK: Files for Liquidation
VIDEO-C LIMITED: Names Begbies Traynor Liquidator
WHITE SHADOW: Calls in Administrator from Pridie Brewster

WOK 45 LTD.: Winding-up Gets Court Approval
WOODSMITHS LIMITED: Members Decide to Wind up Firm
WOOLWORTHS GROUP: Asbestos Investigation Looms
W.R. WOOLLEY: In Administrative Receivership


                            *********


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


COMMERZBANK AG: CEO Dragged into Money Laundering Scandal
---------------------------------------------------------
Commerzbank AG's chief executive has reportedly been linked to an
investigation into money laundering at the company.

According to the Financial Times, the public prosecutors office
has included Klaus-Peter Mueller, in addition to five other
executives and former staff, in the inquiry.  This follows
allegations that about EUR170 million (US$212 million) of cash,
and hundreds of millions more in telecommunications assets were
siphoned off Russian state firms during privatizations a decade
ago.

Germany's third largest bank is positive that Mr. Mueller would
be cleared of any wrongdoing.  "The members of the supervisory
and management boards do not understand the widening of the
investigation and expect Mueller to be completely exonerated," a
company spokesman told Deutsche Welle in a separate report.

According to Deutsche Welle, investigators are looking into the
involvement of Commerzbank employees in certain dealings related
to telecommunications firm Telecominvest.  Mr. Mueller managed
the bank's central and eastern European operations until 1999
before he became head in 2001, the German newspaper said.

CONTACT:  COMMERZBANK AG
          Kaiserplatz
          60261 Frankfurt, Germany
          Phone: +49-69-136-20
          Fax: +49-69-285389
          Web site: http://www.commerzbank.com


CONTEX-BAU: Bremen Firm Succumbs to Bankruptcy
----------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against Contex-Bau GmbH on July 19.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 4, 2005 to register their claims
with court-appointed provisional administrator Christian Darge.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 11:00 a.m. at the district
court of Bremen, Saal 115, Gerichtshaus (Neubau), Ostertorstr.
25-31, 28195 Bremen, at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report
October 27, 2005, 10:45 a.m. at the same venue.

CONTACT:  CONTEX-BAU GmbH
          Lindenstr. 6, 28755 Bremen
          Contact:
          Ulrich Hellwig, Manager
          Tannenweg 2A, 27628 Hagen im Bremischen

          Christian Darge, Administrator
          Contrescarpe 21, 28203 Bremen
          Phone: 0421/3334-0
          Fax: 0421/3334-111


DRESDNER BANK: Posts Best Half-year Result After Sale to Allianz
----------------------------------------------------------------
Dresdner Bank further improved its operating result in the first
half of the year by 13% to EUR477 million.  "This is our best
half year since we were acquired by Allianz," commented Herbert
Walter, Chairman of the Board of Managing Directors of Dresdner
Bank, expressing his satisfaction with the results.

Dresdner Bank made substantial progress in streamlining its
non-strategic business in the first half of the year.
Risk-weighted assets totaling EUR4 billion were sold or
liquidated in this period alone.  The Institutional Restructuring
Unit (IRU) has made much faster and better progress than was
originally planned, and will have wound up the portfolio
transferred to it in the course of the third quarter.

"Thanks to the professional work by the IRU, we are now free to
concentrate fully on our customer business", said Herbert Walter.
Clear successes were already visible in this area, he added.  Net
interest and current income in the Bank's strategic business rose
sharply in the first half of the year.  Together with a further
decline in the cost base and lower loan loss provisions, this
more than compensated for the drop in net trading income.

Income Doubles

Income before taxes -- not including special factors -- doubled
in the first half of 2005 to EUR556 million.  All in all,
Dresdner Bank is reporting pre-tax income of EUR1,809 million.
This includes a tax-free gain in the amount of EUR1,253 million,
which is mainly the result of the disposal of its investments in
Allianz and Munich Re.  This gain was due in particular to the
application of the revised version of IAS 39 valid since the
beginning of the year.  Income after taxes amounted to EUR1,576
million.

Return After Taxes Climbs to 12.2%

Dresdner Bank generated a return on equity of 12.2% after taxes
or 19% before taxes -- measured in terms of its contribution to
Allianz's net income.  As a result, Dresdner Bank is well on the
way to earning its cost of capital this year.  This corresponds
to a return on economic capital after taxes of 8.85%.

Adjusted Net Interest and Current Income Up

After adjustment for the IRU and the remaining Asset Management
activities transferred to Allianz last year, net interest and
current income rose by slightly less than 16% to EUR1,037 million
in the first half of the year, while net fee and commission
income rose by EUR43 million to EUR1,293 million.  At EUR559
million, net trading income was down EUR350 million on the
prior-year period in the first six months of 2005.  The market
weakness in April and May was followed by a renewed clear
increase in net trading income in June.

Cost Base Cut Further

Administrative expenses declined once again in the first half of
2005, falling 11.9% to EUR2,417 million.  Non-staff operating
costs fell by EUR50 million during the same period to EUR999
million.  The cost-income ratio amounted to 82%.

With regard to loan loss provisions, the improved realization of
individual exposures in the IRU led to net releases of EUR55
million.  In the Bank's strategic business, loan loss provisions
rose in the first half of the year by EUR11 million to EUR101
million.  Total loan loss provisions amounted to EUR46 million.

The lending volume increased in the first half of the year by
slightly less than five percent overall, to EUR102 billion.  At
14%, growth in the Bank's strategic business was even more
pronounced, for a total of EUR99 billion.

The Dresdner Bank Group's total assets declined by 5.1% as
against the end of 2004 to EUR497.1 billion.  This was primarily
due to a drop in the volume of securities-based money market
transactions.

Following conversion of the method of calculating capital
requirements to the international BIS/IFRS standard as of 30 June
2005, Dresdner Bank has a core capital ratio of 11.1%.  According
to the old method (BIS/HGB), the ratio is 6.4%.

All Divisions Profitable

All four strategic divisions made a positive contribution to
overall earnings in the first half of the year, and in Q2 2005.

Personal Banking lifted its operating result in the first half of
the year by a clear 54% year-on-year, for a total of EUR134
million.  The cost-income ratio improved further, from 82% in the
first quarter to 78% in the second quarter.

Private & Business Banking improved its operating result by 23%
as against the same period of the previous year to EUR247
million.  The cost-income ratio declined in comparison to the
first half of 2004 to a good 54%.

Corporate Banking increased its operating result in the first
half of 2005 by 16% to EUR232 million.  The cost-income ratio in
the second quarter sank to 41%.

Dresdner Kleinwort Wasserstein (DrKW) generated an operating
result of EUR74 million (previous year: EUR147 million) in the
first half of 2005.  This clear drop was due to the decline in
trading activities.  In contrast, client business continued to
develop positively.

The Institutional Restructuring Unit (IRU) generated an operating
result of -EUR10 million for the first six months (previous
year: -EUR46 million).  The drop in operating income of EUR194
million to EUR55 million is due to the sale of loan and private
equity portfolios.

Financial tables are available free of charge at
http://bankrupt.com/misc/DresdnerBank(H12005).pdf

CONTACT:  DRESDNER BANK AG
          Jurgen-Ponto-Platz 1
          60301 Frankfurt, Germany
          Phone: +49-692--630
          Fax: +49-692-63-4831
          Web site: http://www.dresdner-bank.de


DUERR AG: Unveils Plan to Streamline Core Business
--------------------------------------------------
Stephan Rojahn, CEO, will leave Duerr AG as of December 31, 2005,
at his own request.  The Supervisory Board would like to thank
Stephan Rojahn for his dedicated service.  The Supervisory Board
will propose his election to the Supervisory Board at the 2006
annual shareholders' meeting.

On Wednesday evening, Ralf Dieter, member of the Board of
Management of Duerr AG since January 1, 2005 and Chairman of the
Board of Management of Carl Schenck AG, was appointed by the
Supervisory Board to become CEO for Duerr AG starting January 1,
2006.  Mr. Dieter is currently the member of the Board of
Management of Duerr AG responsible for the Measuring and Process
Systems (MPS) division, and since May 2003 he has also been
responsible for Carl Schenk AG, which has recently undergone
successful restructuring.

Additionally, Mr. Dieter will assume operating control of the
Paint and Assembly Systems (PAS) division beginning September 1,
2005.  Martin Hollenhorst, CFO, will continue to be responsible
for the Finance, Controlling, Legal, Insurance, Human Resources,
Organization and Real Estate departments as well as for Corporate
Communications and Investor Relations.

Business Developments: MPS Shows Sustainable Profitability, PAS
Below Plan, Stable Incoming Orders

In the first half of the financial year, continuing operations
recorded incoming orders of EUR856.4 million, which was almost at
the level of the previous year of EUR864.8 million despite
difficult conditions.  Sales revenues declined more than expected
and decreased by EUR133.1 million, or 15.0%, to EUR756.8 million
(EUR889.9 million).  The gross margin improved considerably to
19.4% compared to only 16.9% in the same period last year.
Still, this did not fully compensate for the significant decline
in sales revenues, particularly in the USA.  Largely unchanged
functional costs for administration and selling expenses of
EUR123.3 million (EUR122.4 million) and increased interest
expenses of EUR18.5 million (EUR11.0 million) resulted in a
negative earnings before taxes (EBT) of EUR6.7 million.  In the
previous year, positive earnings before taxes of EUR9.0 million
were reported.

Discontinued operations contained the accumulated share of
earnings from the Development Test Systems (DTS) business unit
and the Premier Group, as well as the capital gain from the
Premier sale in June, which amounted to a total of EUR13.6
million; this resulted in a half-year Group net income figure of
EUR6.3 million (EUR5.2 million).

Better Second Quarter

Sales revenues in the second quarter increased by EUR81.6 million
and earnings before taxes of EUR0.2 million were EUR7.0 million
above the extremely weak first quarter.  The book-to-bill ratio
(ratio of incoming orders to sales revenues) amounted to 1.15 in
the second quarter.

At Measuring and Process Systems (MPS), the measures implemented
in the previous years began to bear fruit.  All of this division'
s reported key figures were higher than forecasted.  Sales
revenues increased by 13.0% to EUR248.0 million (EUR219.4
million).  EBITDA more than doubled to EUR11.9 million (EUR4.8
million).  Earnings before taxes reached EUR6.1 million following
the loss of the previous year (EUR0.8 million).  The company
expects the positive trend in sales revenues and earnings to
continue.

The difficult market environment in the automotive industry and
the current high pressure on margins has caused the business
development of Paint and Assembly Systems to be below
expectations.  This division's sales revenues in the first half
of 2005 declined by EUR161.6 million to EUR508.8 million
(EUR670.4 million), and earnings before taxes decreased from
EUR20.2 million to EUR5.2 million.

Concentration on the Core Business

In paint systems engineering, only 3 of the 5 targeted projects
were contracted and other projects were postponed.  The lacking
earnings contribution and excessively low capacity utilization
are particularly affecting the U.S. business.

With FOCUS, Duerr AG is thus implementing a comprehensive program
to concentrate on its core business.  In the future, the
Stuttgart-based company will concentrate exclusively on:

(a) Painting technology with a focus on robot and applications
    technology,

(b) Final assembly and automation technology,

(c) Environmental and energy technology as well as

(d) Mechanical engineering

The main customer areas are the automotive and supplier
industries as well as the general industrial sector.  The company
's peripheral activities are being put to the test.  All
strategic options will be considered.  The consolidation of the
former holding structures of Duerr AG and Carl Schenck AG will
enable further synergies.

Comprehensive Restructuring at Paint and Assembly Systems

For the coming year, Duerr expects the weak investment behavior
on the part of the automotive industry to continue.  A
comprehensive restructuring program for the Paint and Assembly
Systems division will be initiated in the context of FOCUS, with
the goal of considerably lowering the break-even in the
individual segments.  In the future, the business model will be
directed towards the growth potential in modernizing existing
plants, in retrofitting and for sophisticated services.  Total
expenses of EUR40 to 50 million have been budgeted for the
restructuring program in the Paint and Assembly Systems division.
In return, Duerr expects annual personnel and structural cost
savings to the same extent from 2006.  For the Group as a whole,
plans are to cutback a total of 800 jobs by the middle of 2006.
The reductions will be focused on North America.  The number of
jobs had already been reduced by 100 at the end of July.

Targeted Center of Competence Structure

FOCUS not only involves adjusting capacity, but also aims to
reorganize business processes.  Stuttgart will become the center
of competence for the handling of major projects.  In this area,
Duerr is concentrating all activities in the field of painting
technology with a focus on robot and application technologies.
The 80 positions at the site in Butzbach, Germany, will be
relocated to Stuttgart.

The designated CEO, Ralf Dieter, affirms: "Our company's aim as
the global market leader must be to focus on generating
reasonable earnings and dividends.  It will require far-reaching
measures in order to earn money in our core business in an
extremely difficult market and secure jobs for the future.  We
have done our homework at Measuring und Process Systems, and we
have returned this division to sustainable positive earnings.
Similarly, we will restructure the weak units of our core
business in Paint and Assembly Systems and streamline the
business for the future."

Outlook

Duerr will not be able to achieve its target for the year of
earnings before taxes from continuing operations of more than
EUR18.6 million.  The main reasons for this are the sales
revenues and earnings of the Paint and Assembly Systems division,
which are significantly below expectations, and the planned
restructuring charges.  Each business unit will be subject to a
stringent profitability review.  FOCUS also aims to significantly
reduce Group debt.  The Group's reorganization should be complete
following the end of the 18-month-long FOCUS project, at which
time a more streamlined Duerr Group should generate a margin
before taxes of at least 4% and an EBITDA margin of 8%.  Further
details of the restructuring program and financing concept will
be developed in the upcoming weeks and will be announced by end
of September.

The Duerr Group is one of the world's leading suppliers of
production systems and of modules as well as components for
measuring and process systems.  It focuses primarily on the
automotive and aviation industries as well as the mining and
basic materials industries.

Duerr AG had 54 employees as of June 30, 2005 (2004: 54); its EBT
amounted to -EUR17.9 million (2004: -EUR10.4 million).

Financial tables are available free of charge at
http://bankrupt.com/misc/DuerrGroup(H12005).pdf

CONTACT:  DUERR AG
          Stephan Haas
          Corporate Communications and Investor Relations
          Phone: +49 (0)711 136-1785
          Fax: +49 ( 0)711 136-1034
          E-mail: corpcom@durr.com


DUERR AG: Moody's Hints of Possible Downgrade
---------------------------------------------
Moody's Investors Service has placed all the ratings of Duerr AG
on review for possible downgrade.

The review has been prompted by:

(a) Further weakening in Duerr's operating margins as compared
    to 1H 2004, resulting from challenges in one of Duerr's core
    activities, the Paint and Assembly Systems division (PAS);

(b) Below expected cash flow generation, both pre- and post-
    working capital movements, and the subsequent increase in
    debt levels compared to last year; and

(c) further deterioration in the Company's liquidity profile, at
    a time when the company has announced that it is embarking
    upon further restructuring initiatives to improve
    profitability.

Duerr has announced a new restructuring plan, "Focus", that will
involve a broad strategic review of the company's businesses,
with an aim to increase efficiency, reduce over capacity and
further trim operating costs.  Further rationalization of the
organizational structure is also expected with greater focus on
core businesses, including an assessment of peripheral businesses
in the context of their future returns potential and overall
strategic fit.

Moody's recognizes that the Measuring and Process System division
(MPS) is performing steadily above expectations and steps taken
by management are expected to support a gradual recovery across
both core businesses.  The challenge for management, as noted by
Moody's, will be to reverse current operating cash flow weakness
in a timely manner given the elevated leverage on the balance
sheet and limited supporting liquidity.  Moody's does not expect
the difficult market environment within the auto industry to
relent over the near term, which may hamper the efforts to retain
the full extent of cost savings.

Moody's review will focus on:

(a) The ability of the company to turnaround the current weak
    operating performance, in the context of the new
    restructuring plan;

(b) The success of Duerr to improve its liquidity profile, I
    including an assessment of future headroom;

(c) The outlook in order flow in the core PAS division, as well
    as maintain performance at MPS;

(d) The execution risks associated with the new "Focus"
    restructuring program and the capacity of driving and
    retaining forecasted cost savings.

(e) The outlook for debt protection measures over the
    intermediate term.

Ratings affected are:

(a) The B1 rating on the five-year EUR360 million (reduced from
    EUR400 million following receipt of disposal proceeds)
    senior secured revolving credit and guarantee facilities;

(b) The B3 rating on the EUR200 million 9.75% Senior
    Subordinated Notes due 2011, issued by Duerr AG; and

(c) The B1 corporate family rating on Duerr AG.

At the same time Moody's announce the withdrawal of Duerr's Caa1
issuer rating as part of Moody's announced policy to discontinue
the use of issuer ratings.

Duerr AG, headquartered in Stuttgart, Germany, is the holding
company for a global market leader in the supply of large-scale
production systems primarily to the automotive industry.

CONTACT:  MOODY'S DEUTSCHLAND GmbH (FRANKFURT)
          Michael West, Managing Director
          Corporate Finance Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

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


FRESENIUS MEDICAL: Fresenius AG Supports Citadel's Countermotion
----------------------------------------------------------------
Fresenius Medical Care AG reports that it has been informed by
Fresenius AG's voting preference at the Extraordinary General
Meeting of Fresenius Medical Care AG on the agenda item 1 of the
Extraordinary Meeting (Resolution on the conversion of non-voting
bearer preference shares into bearer ordinary shares).  Fresenius
AG holds 50.76% of Fresenius Medical Care's ordinary shares and
has decided to vote in favor of a countermotion that was
submitted on August 12, 2005 by Citadel Equity Fund Ltd., London.

"On August 12, 2005, Citadel Equity Fund Ltd., London, submitted
a countermotion to agenda item 1 of the Extraordinary General
Meeting and to the only agenda item of the Separate Meeting of
Preference Shareholders -- Resolution on the conversion of
non-voting bearer preference shares into bearer ordinary shares.
Citadel Equity Fund Ltd. hereby requests all shareholders of
Fresenius Medical Care AG to approve the conversion only when the
conversion premium will be reduced to EUR9.75 per bearer
preference share.

Fresenius AG as shareholder of Fresenius Medical Care AG will
vote in favor of this countermotion in the Extraordinary General
Meeting.  The Company owns 50.76% of the ordinary shares of
Fresenius Medical Care AG.

The proposed step towards just one share class at Fresenius
Medical Care AG was well accepted by the shareholders.  This is
also reflected in the share price development of Fresenius
Medical Care's ordinary and preference shares since the
announcement of this measure beginning of May.  The conversion of
preference shares into ordinary shares is expected to improve
trading liquidity of the ordinary shares and Fresenius Medical
Care's position in the German stock index (DAX).  In addition, it
will increase the company's flexibility to finance future growth.
Therefore, this initiative is in the interests of Fresenius
Medical Care AG as well as of its preference and ordinary
shareholders and accordingly in the interests of Fresenius AG.

The countermotion, however, indicates that the attractiveness of
the conversion premium to be paid by the preference shareholders
is perceived differently by some shareholders.  In order to
increase the incentive to the preference shareholders to
participate in the conversion, Fresenius AG considers the reduced
conversion premium of EUR9.75 as proposed in Citadel's
countermotion as acceptable. Given the advantages of a single
share class, Fresenius AG is convinced that voting in favor of
the countermotion is to the benefit of all shareholders of
Fresenius Medical Care AG."

Fresenius Medical Care AG (Frankfurt Stock Exchange: FME, FME3)
(NYSE: FMS, FMS-p) is the world's largest, integrated provider of
products and services for individuals undergoing dialysis because
of chronic kidney failure, a condition that affects more than
1,300,000 individuals worldwide.  Through its network of
approximately 1,630 dialysis clinics in North America, Europe,
Latin America, Asia-Pacific and Africa, Fresenius Medical Care
provides Dialysis Treatment to approximately 125,900 patients
around the globe.  Fresenius Medical Care is also the world's
leading provider of Dialysis Products such as hemodialysis
machines, dialyzers and related disposable products.  For more
information about Fresenius Medical Care, visit
http://www.fmc-ag.com

                            *   *   *

Early in July, Moody's Investors Service downgraded ratings of
Fresenius Medical Care as a result of the company's planned
debt-funded acquisition of Renal Care Group.  Concurrently,
Moody's assigned a Ba2 rating to FME's new Euro 5 billion senior
credit facility put in place to finance the transaction.  This
concludes the review initiated on 4 May 2005.

Moody's ratings reflect the agency's assumption that FME's
proposed acquisition of RCG will be completed as expected and
considers the enlarged company's ability to service its
significantly higher debt burden as a result of the transaction
as well as integration risks resulting from the acquisition.

CONTACT:  FRESENIUS MEDICAL CARE AG
          Investor Relations
          Oliver Maier
          Phone: + 49 6172 609 2601
          E-mail: ir-fms@fmc-ag.com

          Heinz Schmidt (North America)
          Phone: + 1 781 402 9000
          Ext.: 4518
          E-mail: ir-fmcna@fmc-ag.com
          Web site: http://www.fmc-ag.com


HAAF VERWALTUNGS: Proofs of Claim Due Friday
--------------------------------------------
The district court of Arnsberg opened bankruptcy proceedings
against Haaf Verwaltungs-GmbH on July 17.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until August 19, 2005 to register their
claims with court-appointed provisional administrator Martin
Buchheister.

Creditors and other interested parties are encouraged to attend
the meeting on September 1, 2005, 11:50 a.m. at the district
court of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, 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:  HAAF VERWALTUNGS-GmbH
          Zur Huenenburg 30, 59823 Arnsberg
          Contact:
          Friedrich ten Haaf, Manager
          Dinscheder Str. 11a, 59823 Arnsberg

          Martin Buchheister, Administrator
          Rathausstr. 21-23, 58507 Luedenscheid
          Phone: 02351/36530


HSS HOLZ: Creditors Meeting Set Next Month
------------------------------------------
The district court of Gottingen opened bankruptcy proceedings
against HSS Holz-Stein-Stahl Treppen u. Bausysteme GmbH on July
13.  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 Peter Knopfel.

Creditors and other interested parties are encouraged to attend
the meeting on September 29, 2005, 11:00 a.m. at the district
court of Gottingen, Saal B 11 des Amtsgerichts, 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:  HSS HOLZ-STEIN-STAHL TREPPEN U. BAUSYSTEME GmbH
          Thomas-Mann-Str. 11, 37075 Gottingen

          Peter Knopfel, Administrator
          Hallert Str. 76, D-20146 Hamburg
          Phone: 040/4146380
          Fax: 040/445635


IMMOBILIEN TREUHAND: Court to Verify Claims October
---------------------------------------------------
The district court of Bremen opened bankruptcy proceedings
against Immobilien Treuhand Gesellschaft Speh GmbH on July 21.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 27,
2005 to register their claims with court-appointed provisional
administrator Dr. Bernd Peters.

Creditors and other interested parties are encouraged to attend
the meeting on September 22, 2005, 10:00 a.m. at the district
court of Bremen, Saal 115, Gerichtshaus (Neubau), Ostertorstr.
25-31, 28195 Bremen, at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report on
October 20, 2005, 10:00 a.m. at the same venue.

CONTACT:  IMMOBILIEN TREUHAND GESELLSCHAFT SPEH GmbH
          Bromberger Str. 101, 28237 Bremen
          Contact:
          Emanuel Speh, Manager
          Pobeska Cesta br 5, 6000 Koper-Bertoki, Slowenien

          Dr. Bernd Peters, Administrator
          Am Wall 146, 28195 Bremen
          Phone: 0421/339750
          Fax: 0421/326693


IMMOVENTIS GESELLSCHAFT: Under Bankruptcy Administration
--------------------------------------------------------
The district court of Koln opened bankruptcy proceedings against
Immoventis Gesellschaft fuer Immobilienbesitz und -verwaltung mbH
on July 18.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors had until
August 15, 2005 to register their claims with court-appointed
provisional administrator Heinrich Druegh.

Creditors and other interested parties are encouraged to attend
the meeting on September 15, 2005, 10:20 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:  IMMOVENTIS GESELLSCHAFT FUER IMMOBILIENBESITZ
          UND -VERWALTUNG mbH
          Drachenfelsstrasse 7, 50997 Koln
          Contact:
          Matthias Latteyer, Manager
          Drachenfelsstrasse 7, 50997 Koln

          Heinrich Druegh, Administrator
          Bochumer Str. 6, 51145 Koln
          Phone: 02203-977120
          Fax: +4922039771225


LION BIOSCIENCE: On Track to Break even this Year
-------------------------------------------------
Bio-informatics software maker Lion Bioscience moved a step
closer to recovery in the first quarter, Borsen Zeitung says.

Losses during the period dropped to EUR53,000 from EUR2.62
million a year ago.  Minus the areas of activity soon to be sold
off, the actual loss only amounts to EUR4,000.  The company
eventually plans to become a holding company after it shall have
sold its core business.

Lion has been posting large losses in recent years.  In the last
financial year, 2004-2005, the group booked turnover of
EUR200,000 and EUR13.2 million in net loss.  These losses forced
the group to abandon research into active agents in 2002 to focus
on specialist IT.  Lion also terminated its new research software
in 2004 due to lack of demand.  Lion is aiming to break even this
year.

CONTACT:  LION BIOSCIENCE A.G.
          Postfach 103780
          69027 Heidelberg
          Germany
          Phone: +49-(0) 6221-4038-0
          Fax: +49-(0) 6221-4038-101
          Web site: http://www.lionbioscience.com


MUELLER GERUESTVERLEIH: Creditors' Claims Due September
-------------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Mueller Geruestverleih und -montage oHG on July 20.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 21,
2005 to register their claims with court-appointed provisional
administrator Karsten Totter.

Creditors and other interested parties are encouraged to attend
the meeting on October 17, 2005, 10:10 a.m. at the district court
of Hamburg, Insolvenzgericht, Weidestrasse 122d, 22083 Hamburg,
Saal 1, 2. Ebene (Zi. 2.18), at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  MUELLER GERUESTVERLEIH UND -MONTAGE oHG
          Binsbarg 7, 22525 Hamburg
          Contact:
          Karen Hapke, Manager
          Ruediger Werner Hapke, Manager
          Wiesenstrasse 1, 21614 Buxtehude

          Karsten Totter, Administrator
          Speersort 4/6, 20095 Hamburg
          Phone: 303010
          Fax: 30301246


NORDEX AG: Supervisory Board Extends Term of CFO, COO
-----------------------------------------------------
The new Nordex AG Supervisory Board appointed in June has
expressed its confidence in the company's present Management
Board.  The contracts of Thomas Richterich (CFO) and of Hansjorg
Mueller (Operations) have been extended.  The contract of Carsten
Pedersen, COO Sales and Marketing, was already extended in the
spring of 2005.  In addition, Thomas Richterich has been
appointed Chairman of the Board.

"We have ideally filled the positions needed to lead our company
successfully into the growth phase following restructuring," say
Yves Schmitt, Chairman of the Supervisory Board.  The key
positions in the management of Nordex AG were refilled in 2003
and 2004 after the company had slid into the red.

                            *   *   *

The Nordex Group is one of the world's leading suppliers of wind
turbines.  It has 689 employees, and assets of EUR186.382 million
as of Dec. 31, 2004.  It has bank debt of EUR37.566 million (as
of 2004), and tax liabilities of EUR3.356 million as of 2004.

                           The Trouble

Weak capacity utilization was particularly to blame for its
sustained operating losses in the stub fiscal year.  The company
had consolidated cumulative loss of EUR33.457 million for the
period Oct. 1, 2003 to Sept. 30, 2004.  To reinforce its equity
and debt capital situation on a sustained basis, Nordex is
implementing a comprehensive recapitalization plan.  It projects
return to profit-making territory by 2006.

Annual report: http://bankrupt.com/misc/Nordex(StubFY2004).pdf
Company profile: http://bankrupt.com/misc/Nordex.htm

CONTACT:  Bornbarch 2
          22848 Norderstedt
          Phone: ++49 - 40 - 500 98 100
          Fax: ++49 - 40 - 500 98 101
          E-mail: info@nordex-online.com
          Web site: http://www.nordex-online.com/


REALTECH AG: Remains Loss-making in First Half
----------------------------------------------
REALTECH AG's revenue increased in the 1st half of 2005 by 5% to
EUR24.1 million (1st half of 2004: EUR22.9 million).  This
included a 10% increase in software revenue to EUR4.9 million
(EUR4.5 million) and a 5% increase in consulting revenue to
EUR19.3 million (EUR18.4 million).

EBITDA (earnings before interest, tax, depreciation and
amortization) increased to EUR0.6 million (EUR0.3 million) while
EBIT (earnings before interest and tax) rose to -EUR 0.2 million
(-EUR0.8 million).

Net income amounted to -EUR0.1 million (-EUR0.8 million), while
earnings per share were -EUR0.01 (-EUR0.15).  The company
achieved a cash flow of EUR1.7 million (EUR1.6 million).  At the
end of June 2005, net cash and cash equivalents stood at EUR23.2
million, compared with EUR21.4 million at the end of 2004 and
EUR21.0 million at the end of last June.

2nd Quarter Results

Revenue increased 7% to EUR12.5 million (2nd quarter of 2004:
EUR11.7 million).  Software revenue increased by 8% to EUR2.5
million (EUR2.3 million).  An increase on last year's figure was
also seen in terms of consulting revenue, which rose 7% from
EUR9.4 million to EUR10.0 million.

EBITDA and EBIT were both improved, to EUR0.8 million (EUR0.3
million) and EUR0.4 million (-EUR 0.3 million) respectively.  Net
income increased to EUR0.4 million (-EUR0.2 million),
corresponding to earnings per share of EUR0.07 (-EUR0.04).

CONTACT:  REALTECH AG
          69190 Walldorf
          Phone: +49 6227 837 500
          Fax: +49 6227 837 9134
          Volker Hensel, Investor Relations


TAT-DONER: Calls in Interim Administrator
-----------------------------------------
The district court of Dresden opened bankruptcy proceedings
against TAT-DONER Produktions-GmbH on July 15.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 1, 2005 to register their
claims with court-appointed provisional administrator Olaf
Seidel.

Creditors and other interested parties are encouraged to attend
the meeting on October 13, 2005, 9:30 a.m. at the district court
of Dresden, Saal D131, Olbrichtplatz 1, 01099 Dresden, 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:  TAT-DONER PRODUKTIONS-GmbH
          Bischofswerdaer Str. 155 in 01900 Bretnig-Hauswalde
          Contact:
          Buelent Bilgili, Manager
          Leisniger Str. 12, 01127 Dresden

          Olaf Seidel, Administrator
          Weisseritzstrasse 3, 01067 Dresden
          Web site: http://www.WORAKO.de


UCR UMWELTFORSCHUNG: Creditors to Meet 4th Week of September
------------------------------------------------------------
The district court of Essen opened bankruptcy proceedings against
UCR Umweltforschung GmbH & Co. KG on July 27.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 6, 2005 to register their
claims with court-appointed provisional administrator Rolf Otto
Neukirchen.

Creditors and other interested parties are encouraged to attend
the meeting on September 21, 2005, 9:00 a.m. at the district
court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, I.OG,
gelber Bereich, Saal 185, 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:  UCR UMWELTFORSCHUNG GmbH & Co. KG
          Schnieringshof 10 - 14, 45329 Essen

          Rolf Otto Neukirchen, Administrator
          Zweigertstr. 28-30, 45130 Essen
          Phone: (0201) 438740
          Fax: +492014387479


WCM GROUP: Suspends Merger Plans with Subsidiary
------------------------------------------------
Troubled investment firm WCM Group has deferred plans to merge
with packaging technology subsidiary Klockner-Werke due to
possible heavy tax burdens, Suddeutsche Zeitung says.

WCM revealed local tax authorities are demanding EUR153 million
in taxes and interests from proceeds of sales in 1997, making a
future merger not feasible.  WCM has also suspended it
acquisition of Klockner shares due to a legal action filed by
some shareholders.  WCM currently holds a 78% stake in Klockner.
The investment group wants to focus on Klockner and is currently
disposing of non-core activities.

Meanwhile, WCM retracted its previous forecast of a balanced
result for 2005, saying it might post a seven-figure loss this
year.  WCM posted around EUR109 million losses in 2004, on top of
EUR200 million in debt.  For the first six months of the current
year, WCM booked EUR9.4 million in pre-tax profit out of EUR452
million in turnover.

                            *   *   *

Headquartered in Frankfurt, Germany, WCM was founded in 1766 as a
textile company, but has since then transformed into a real
estate investment group.  Its fortunes slumped dramatically in
2003 when it reported a EUR861 million-loss after being forced to
write down the value of many of its shareholdings amidst a slump
in stock markets.  It is now trying to pay debt, and sell assets.

CONTACT:  WCM BETEILIGUNGS- UND GRUNDBESITZ-AKTIENGESELLSCHAFT
          Opernplatz 2
          60313 Frankfurt
          Phone: +49 (0) 69 90026-0
          Fax: +49 (0) 69 90026-110
          E-mail: info@wcm.de
          Web site: http://www.wcm.de


WOBA GMBH: Marketing Business Goes Bust
---------------------------------------
The district court of Ludwigshafen am Rhein opened bankruptcy
proceedings against WOBA GmbH Wohnbau Marketing on July 19.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until August 26, 2005
to register their claims with court-appointed provisional
administrator Martin Wiedemann.

Creditors and other interested parties are encouraged to attend
the meeting on October 13, 2005, 9:30 a.m. at the district court
of Ludwigshafen am Rhein, Sitzungssaal VIII, Wittelsbachstr. 10,
67061 Ludwigshafen/Rhein, 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:  WOBA GMBH WOHNBAU MARKETING
          Bruchweg 2, 67117 Limburgerhof
          Contact:
          Otto Lux, Manager

          Martin Wiedemann, Administrator
          O 3, 11+12, 68161 Mannheim


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


MALEV HUNGARIAN: Must Sell Assets to Break even this Year
---------------------------------------------------------
Troubled national carrier Malev Hungarian Airlines could break
even this year if it sells some of its assets, daily Napi
Gazdasag says.

In a television interview, Tamas Meszaros, chairman of state
privatization agency Allami Privatizacios Es Vagyonkezelo Rt.
(APV), revealed that in the first half of 2005, the carrier's
book equity fell below its registered capital.  According to
Napi, APV plans to sell Malev's fuel unit or other properties to
prevent another loss.  APV expects Malev's new owner to absorb
the group's HUF36 billion debt and hike its capital.

Only two bidders are left battling for Malev: Russian airline
Airbridge Cargo, which offered to acquire the loss-making
carrier's debt and inject fresh capital; and KrasAir, which is
offering HUF160 million.

APV will announce Malev's new owner in 30 days.  The latest
bidding opened in April.  Around 14 investors expressed interest
in the carrier, but only six were considered serious bidders.

CONTACT:  MALEV HUNGARIAN AIRLINES
          Konyves Kalman korut 12-14,
          H-1097 Budapest
          Phone: +36 1 235 3100
          Fax: +36 1 235-3255
          E-mail: malev@malev.hu
          Web site: http://www.malev.hu

          ALLAMI PRIVATIZACIOS ES VAGYONKEZELO RT. (APV RT.)
          Pozsonyi ut 56
          H-1133 Budapest
          Phone:(36 1) 237 4400
          Fax:(36 1) 237 4100
          E-mail: apvrt@apvrt.hu
          Web site: http://www.apvrt.hu/english/m3.html

          OAO KRASNOYARSK AIRLINES
          663021, Krasnoyarsk region,
          Emeljanivo-1, Krasnoyarsk Airport
          Phone: +7 (3912) 635-110
          Fax: +7 (3912) 635-181
          E-mail: krasair@krasair.ru

          AIRBDRIDGE CARGO
          119048, Usacheva Str. 35A
          Moscow, Russia
          Phone: + 7 095 7862613
          Fax: + 7 095 7556851
          E-mail: info@airbridgecargo.com
          Web site: http://www.airbridgecargo.com


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


ALITALIA SPA: Transport Minister Vows to 'Stop' Strike
------------------------------------------------------
Transport and Infrastructure Minister Pietro Lunardi promised to
do his best to prevent another strike at troubled national
carrier Alitalia S.p.A., Agenzia Giornalistica Italia says.

Mr. Lunardi said, "Right now, there is a communication problem,
but we'll do our best to have it called off and safeguard the
citizens traveling back from their summer holidays."

Asked whether he would issue a back-to-work order, Mr. Lunardi
only replied, "we'll do all we can to stop the strike and
relevant troubles for travelers."

The Sindicato Unitario Lavoratori Transporti (SULT) union will
stage a strike on August 30 and 31 in answer to Alitalia's
decision to exclude them in the current labor talks.  Alitalia's
employees in recent months have repeatedly staged strikes to
demand better contracts and working conditions, each time
crippling the carrier's international and domestic flights.

CONTACT:  ALITALIA S.p.A.
          Viale A. Marchetti 111
          00148 Rome, Italy
          Phone: +39 06 6562 2151
          Fax: +39 06 6562 4733
          Web site: http://www.alitalia.it


SAFILO SPA: Fitch Affirms 'CCC+' Rating on Senior Notes
-------------------------------------------------------
Fitch Ratings has changed Italy-based Safilo S.p.A.'s Outlook to
Stable from Negative, following H105 results, which reported
continued improvements in sales and profitability.  Its ratings
are affirmed at Senior Unsecured and Short-term 'B', while its
senior secured debt is affirmed at 'B+'.  At the same time, Fitch
has affirmed Safilo Capital International S.A.'s EUR300 million
senior notes due 2013 at 'CCC+'.

Safilo's H105 results indicate that the company is on track to
achieve sizeable increases in sales and profitability in the
current year.  As a result, financial leverage ratios are on a
downward trend.  Group reported sales in H105 were up 9% year on
year at EUR562 million and EBITDA rose 25% to EUR98 million
(17.4% margin).  In the last 12 months to June 2005, sales
increased 5% to EUR988 million and EBITDA 11% to EUR166.4 million
when compared with FY04.  The upward trend in profitability is
even more evident when compared to the historical low of the past
three years of EUR123.7 million EBITDA (12 months to March 2004).

Stefano Podesta, Director in Fitch's Leveraged Finance team,
said: "Constantly improving profitability at Safilo has not yet
translated into stable free cash flow generation as working
capital expansion has largely offset improving profits."

However, Fitch understands from Safilo's management that senior
lenders have been involved in discussions, including a possible
IPO for Safilo, and have subsequently agreed to amend covenants
on the existing senior secured financing by Q206.  The senior
lenders are understood to have discussed their support for
alternative near-term refinancing initiatives should the IPO not
be finalized by Q206.

Mr. Podesta added: "Therefore, although free cash flow generation
is not sufficient to warrant a positive change in ratings,
continued support from senior lenders and improving sales and
profitability have reduced the likelihood of a ratings downgrade,
hence the change in Outlook."

In H105 a stronger-than-expected U.S. dollar (compared to H204),
good demand in the U.S. and Asia and strong growth in the Italian
market, has sustained the turnaround seen in FY04.  This is
expected to continue in 2005 as Safilo is also working on a
number of cost-saving initiatives, including a rationalization of
the Italian production facilities.  Cash flow generation remains
low for the rating level.

Increasing sales have resulted in the expansion of working
capital requirements primarily due to increased receivables,
therefore reported net debt increased to EUR772.9 million at H105
from EUR754.1 million at FY04.  However, improving profitability
saw net leverage decrease to 4.65x at H105 from 5.0x at FY04.

Headquartered in Padua, Italy, Safilo is the world's second
largest manufacturer and wholesaler of eyewear products sold
primarily under a number of licensed brand names including
Armani, Gucci, Yves Saint Laurent, Polo Ralph Lauren and
Burberry.  Safilo began reporting under IFRS GAAP in Q105.

CONTACT:  FITCH RATINGS
          Stefano Podesta, London
          Phone: +44 (0) 20 7417 4316
          Kirsten O'Byrne
          Phone: +44 (0) 207417 6297
          Web site: http://www.fitchratings.com

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


=================
L I T H U A N I A
=================


MAZEIKIU NAFTA: Reports LTL378.9 Mln Profit in First Six Months
---------------------------------------------------------------
Mazeikiu Nafta reported its consolidated preliminary financial
results for the first six months of 2005 to Vilnius Stock
Exchange.  Company's auditor PricewaterhouseCoopers reviewed
financial results.

The Company earned LTL378.9 million of unaudited net profit
during the first six months of 2005 under International Financial
Reporting Standards (IFRS).  Mazeikiu Nafta's net profit,
according to U.S. generally accepted principles of accounting (US
GAAP), during the first six months of 2005 was US$171.2 million,
compared to US$82.4 million during the same period a year ago.

Company's revenues reached LTL4.3 billion during the first six
months of 2005, compared to LTL3.1 billion during the same period
a year ago.

"Outstanding financial results of our company reflect excellent
performance of our team -- people working at Mazeikiu Nafta and
favorable situation in the refining market.  Our company has
successfully invested into a few modernization projects.  Today
we enjoy benefits of modernization along with stability in crude
oil supplies," said P. Nelson English, General Director of
Mazeikiu Nafta.

During the first six months of 2005, Mazeikiu Nafta refined 4.42
million metric tons of crude oil and other feedstock, or by 13.3
percent more than in the same period last year (3.9 million
tons).

The Butinge Terminal transhipped 2.6 million metric tons of crude
during the first six months of 2005, compared to 4.62 million
metric tons in the same period of 2004.

The Birzai pipelines transported 9.6 million metric tons of crude
and diesel fuel during the first six months of 2005, compared to
10.4 million metric tons in the same period a year ago.

Mazeikiu Nafta collected and paid over LTL1.3 billion in taxes
during the first six months of 2005, compared to LTL847 million
during the same period a year ago.

Mazeikiu Nafta Trading House, a wholly owned subsidiary of
Mazeikiu Nafta, continued successful operations in its strategic
markets.

Sales of gasoline, diesel and other products within six months of
2005 amounted to 785 thousand metric tons in Lithuania, 236
thousand metric tons in Latvia, 235 thousand metric tons in
Estonia, and 227 thousand metric tons in Poland.  Sales in
strategic markets for same period a year ago were 672 thousand
metric tons in Lithuania, 249 thousand metric tons in Latvia, 167
thousand metric tons in Estonia and 167 thousand metric tons in
Poland

Almost 2.6 million metric tons of products were transported via
the Klaipeda seaport to Western Europe, the U.S., Canada and
other parts of the world during the six months of 2005, up from
2.23 million metric tons within the six months of 2004.

                            *   *   *

In July, Fitch Ratings assigned Mazeikiu Nafta AB Senior
Unsecured 'B+' and Short-term 'B' ratings.  The rating Outlook is
Stable.

The ratings reflect MN's improving utilization rates of the
Mazeikiai refinery, stable market position in the Baltic States
and increasing export sales to western Europe and the U.S., as
well as steady profit contribution from the crude oil and product
transportation segment.  On the other hand, they factor in the
volatile profits and cash flows of MN's refining business (driven
by the company's high sensitivity to crack margins), relatively
high refining costs, crude oil supply risk and low financial
flexibility due to increased levels of restricted cash.

The ratings also take into account the current difficult
financial position of Yukos Oil Company, the majority shareholder
who was forced to suspend crude oil supply to MN under a
long-term contract in February 2005 following the Russian
government auction of its main production unit.  Fitch notes that
the Yukos crisis has had a negative impact on MN operations
including increased crude oil supply risk and materially
increased levels of restricted cash required by MN's lending
banks as collateral for letters of credit issued to crude oil
suppliers.  The company has been able to secure crude oil
supplies for 2005 by signing new annual contracts with a number
of oil traders using resources of Russian upstream companies.

CONTACT:  AB MAZEIKIU NAFTA
          Juodeikiai, LT- 89467 Mazeikiai District
          Lithuania
          Phone: +370 443 9 21 21
          Fax: +370 443 9 25 25
          E-mail: post@nafta.lt

          Communication Department
          Phone: +370 443 9 26 08
          Fax: +370 443 9 25 79
          E-mail: info@nafta.lt


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


ROYAL SHELL: 'A' Shares Down to 4,080,886,546
---------------------------------------------
On August 12, 2005, Royal Dutch Shell purchased for cancellation
1,400,000 'A' Shares at a price of EUR27.086 per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,080,886,546*.

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 last week,
the company purchased for cancellation 1,000,000 'A' Shares at a
price of EUR26.89 per share.  A day after that, Shell also
purchased for cancellation 1,800,000 'A' Shares at a price of
EUR27.24 per share.

This came as Shell unveiled a buyback program after a damaging
reserves overestimation scandal last year.

                        About the Company

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.

                           The Trouble

Shell had admitted it overstated its proved reserves by almost
6.0 billion barrels between January 2004 and February this year.
The crisis resulted to the ouster of three top executives,
including former chairman Philip Watts.  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


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


AGRO-PROM-KHIMIYA: Insolvency Manager from Adygeya Enters Firm
--------------------------------------------------------------
The Arbitration Court of Adygeya republic has commenced
bankruptcy supervision procedure on limited liability company
Agro-Prom-Khimiya.  The case is docketed as A01-B-1357-2005-8.
Mr. R. Khasanov has been appointed temporary insolvency manager.

CONTACT:  AGRO-PROM-KHIMIYA
          385300, Russia, Adygeya republic,
          Krasnogvardeyskoye, Festivalnaya Str. 5

          Mr. R. Khasanov
          Temporary Insolvency Manager
          Russia, Adygeya republic, Maykop,
          Zavodskaya Str. 3a, Apartment 6
          Phone: 8-928-663-42-05


ARCHITECTURAL INDUSTRIAL: Under Bankruptcy Supervision
------------------------------------------------------
The Arbitration Court of Rostov region has commenced bankruptcy
supervision procedure on close joint stock company Architectural
Industrial Centre.  The case is docketed as A 53-4309/2005-S2-33.
Mr. I. Kravtsov has been appointed temporary insolvency manager.

CONTACT:  ARCHITECTURAL INDUSTRIAL CENTRE
          Russia, Rostov region,
          Volgodonsk, Khimikov Str. 48

          Mr. I. Kravtsov
          Insolvency Manager
          344002, Russia, Rostov-na-DOnu,
          Temernitskaya Str. 93/33


FACTORY OF LARGE PANELS: Public Auction Set Today
-------------------------------------------------
The bidding organizer of limited liability company Factory Of
Large Panels will sell its property on Aug. 17, 2005 at, 11:00
a.m.  The public auction will take place at Russia, Moscow
region, Zemlyanoy val Str. 64.  Up for sale is an immovable
property for a starting price of RUB6,849,900 inclusive of VAT.

The list of documentary requirements is available at Russia,
Moscow, Zemlyanoy val Str. 64.  To participate, bidders must
deposit an amount equivalent to 20% of the starting price to the
settlement account 40702810800010000428 of TF ACB Petrovka, Tula,
correspondent account 30101810200000000795, BIC 047003795.

CONTACT:  FACTORY OF LARGE PANELS
          Russia, Tula region, Donskoy,
          Novougolnyj, Industrialnaya Str. 12

          LLC AUCTION-PROM-TORG
          Bidding Organizer
          Russia, Moscow region,
          Zemlyanoy val Str. 64


NERUDNIK: Appoints A. Andreev Insolvency Manager
------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on open joint stock company
Nerudnik (TIN 2343011202).  The case is docketed as
A-32-9614/2005-2/128-B.  Mr. A. Andreev has been appointed
temporary insolvency manager.  A hearing will take place on Sept.
19, 2005, 2:45 p.m.

CONTACT:  NERUDNIK
          Russia, Krasnodar region,
          Novokubanskiy region, Kasparovskiy

          Mr. A. Andreev
          Temporary Insolvency Manager
          Russia, Krasnodar region


PROGRESS-CENTRE: Bankruptcy Hearing Set Next Week
-------------------------------------------------
The Arbitration Court of Stavropol region has commenced
bankruptcy supervision procedure on close joint stock company
Progress-Centre (TIN/KPP 2634039668/263401001).  The case is
docketed as A63-164/2005-S5.  Mr. N. Chichev has been appointed
temporary insolvency manager.  A hearing will take place on Aug.
25, 2005, 11:00 a.m.

CONTACT:  PROGRESS-CENTRE
          Russia, Stavropol region,
          Lomonosova Str. 25

          Mr. N. Chichev
          Insolvency Manager
          355044, Russia, Stavropol region,
          Post User Box 5110


RAZVETYEVSKOYE: Succumbs to Bankruptcy
--------------------------------------
The Arbitration Court of Kursk region commenced bankruptcy
proceedings against Razvetyevskoye close joint stock company
insolvent.  The case is docketed as A-35-752/05 "g".  Mr. V.
Datskikh has been appointed insolvency manager.  Creditors have
until Sept. 16, 2005 to submit their proofs of claim to 305004,
Russia, Kursk region, Tolstogo Str. 13.

CONTACT:  RAZVETYEVSKOYE
          307142, Russia, Kursk region,
          Zheleznogorskiy region, Razvetye

          Mr. V. Datskikh
          Insolvency Manager
          305004, Russia, Kursk region,
          Tolstogo Str. 13


ROSSGOSSTRAKH-BIROBIDZHAN: Declared Insolvent
---------------------------------------------
The Arbitration Court of Evreyskaya autonomous republic commenced
bankruptcy proceedings against Rossgosstrakh-Birobidzhan after
finding the open joint stock company insolvent.  The case is
docketed as A16-504/2005-5.  Mr. E. Voronin has been appointed
insolvency manager.

CONTACT:  ROSSGOSSTRAKH-BIROBIDZHAN
          Russia, Evreyskaya autonomous republic,
          Birobidzhan, Volochaevskaya Str. 3

          Mr. E. Voronin
          Insolvency Manager
          679017, Russia, Evreyskaya autonomous republic,
          Birobidzhan, Post User Box 47
          Phone/Fax: (42622) 2-49-64


SOKOL: Bankruptcy Supervision Procedure Begins
----------------------------------------------
The Arbitration Court of Saint-Petersburg and the Leningrad
region has commenced bankruptcy supervision procedure on
Leningradskiy Factory Sokol (TIN 4716017852).  The case is
docketed as A56-21060/05.  Mr. V. Kostomarov has been appointed
temporary insolvency manager.

Creditors may send their proofs of claim to 190121, Russia,
Saint-Petersburg, Angliyskiy Pr. 3, Office 205.  A hearing will
take place on Nov. 22, 2005, 11:00 a.m.

CONTACT:  LENINGRADSKIY FACTORY SOKOL
          187026, Russia, Leningrad region,
          Tosnenskiy region, Nikolskoye

          Mr. V. Kostomarov
          Temporary Insolvency Manager
          190121, Russia, Saint-Petersburg,
          Angliyskiy Pr. 3, Office 205


SPETS-STROY: Bankruptcy Hearing Set November
--------------------------------------------
The Arbitration Court of Lipetsk region has commenced bankruptcy
supervision procedure on open joint stock company Spets-Stroy.
The case is docketed as A36-1921/2005.  Mr. G. Nosikov has been
appointed temporary insolvency manager.

Creditors may send their proofs of claim to 393310, Russia,
Tambov region, Inzhavino, Leninskaya Str. 1/2.  A hearing will
take place on Nov. 10, 2005, 10:00 a.m. at the Arbitration Court
of Lipetsk region located at 398019, Russia, Lipetsk,
Skorokhodova Str. 2, Room 521.

CONTACT:  SPETS-STROY
          Russia, Lipetsk region,
          Kommunalnaya Str. 9A

          Mr. G. Nosikov
          Temporary Insolvency Manager
          398059, Russia, Lipetsk region,
          Kommunalnaya Str. 9, Office 407
          Phone: (0742) 22-48-31
          Fax: (0742) 77-69-75


UFIMSKIY REINFORCED: Undergoes Bankruptcy Supervision Procedure
---------------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on open joint stock company
Ufimskiy Reinforced Concrete Factory #1 (TIN 0277017741).  The
case is docketed as A07-14555/05-G-PAV.  Mr. I. Khavizov has been
appointed temporary insolvency manager.  A hearing will take
place on Nov. 30, 2005, 10:00 a.m. at the Arbitration Court of
Bashkortostan republic located at 450057, Russia, Ufa,
Oktyabrskoy Revolyutsii Str. 63a.

CONTACT:  UFIMSKIY REINFORCED CONCRETE FACTORY #1
          450045, Russia,
          Bashkortostan republic, Ufa-45

          Mr. I. Khavizov
          Temporary Insolvency Manager
          450001, Russia, Bashkortostan republic,
          Ufa, Oktyabrya Str. 11, Office 1


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


SWISSAIR: KPMG to Pay Back CHF35.5 Mln to Liquidator
----------------------------------------------------
KPMG Switzerland and Swissair liquidator Karl Wuethrich have
reached a settlement over claim avoidance actions, said
Swissinfo.

Under the agreement, KPMG will return CHF35.5 million (US$28.5
million) to Mr. Wuethrich.  They have also arranged to drop other
possible claims.

This came after Mr. Wuethrich brought the case to court last year
in an attempt to recover money for creditors of the bankrupt
national airline.  He earlier claimed that KPMG and other
consultancies and banks were prioritized over other creditors by
being paid in full.

He also said that despite Swissair's imminent collapse, and its
parent company's (SairGroup's) weak financial position in
September 2001, KPMG still charged the carrier about CHF45
million for services.  However, the consultancy denied the
claims.

In May, Mr. Wuethrich revealed plans to urge several companies to
pay back funds received from Swissair shortly before it folded.
He is also said to be claiming a total of CHF280 million from
former bosses and board members.

Some analysts have attributed Swissair's collapse in October 2001
to its unsuccessful expansion strategy and the mismanagement of
its finances.

CONTACT:  WENGER PLATTNER
          Web site: http://www.liquidator-swissair.ch
          Karl Wuethrich, Liquidator
          Phone: 043 222 38 00
          Fax: 043 222 38 01


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


AGRO-ISKRA: Insolvency Manager Takes over Helm
----------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Agro-Iskra (code EDRPOU 01528364) on June 23,
2005 after finding the limited liability company insolvent.  The
case is docketed as 25/39.  Mr. Oleksandr Plahotnik (License
Number AA 047952) has been appointed liquidator/insolvency
manager.  The company holds account number 26009330021820 at JSCB
Ukrsocbank, Berdyansk branch, MFO 313452.

CONTACT:  AGRO-ISKRA
          71100, Ukraine, Zaporizhya region,
          Berdyansk district, Osipenko,
          Osipenko Str. 18

          Mr. Oleksandr Plahotnik
          Liquidator/Insolvency Manager
          51900, Ukraine, Zaporizhya region,
          Dneprodzerzhinsk, Medichna Str. 4/51

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


EVEREST: Falls into Bankruptcy
------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on Private Production-Commercial Firm
Everest (code EDRPOU 31112348).  The case is docketed as 43/476.
Mr. I. Mihno (License Number AA 668303) has been appointed
temporary insolvency manager.  The company holds account number
260051825/643 at OJSC JSB Ukrgazbank, Kyiv region branch, MFO
320478.

CONTACT:  Mr. I. Mihno
          Temporary Insolvency Manager
          Phone: (044) 243-32-58

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


GAZBUDENERGO: Under Bankruptcy Supervision
------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on LLC Gazbudenergo (code EDRPOU 32554941).
The case is docketed as 43/475.  Mr. I. Mihno (License Number AA
668303) has been appointed temporary insolvency manager.  The
company holds account number 2600030015885/980 at OJSC Vabank,
Kyiv region branch, MFO 321637.

CONTACT:  GAZBUDENERGO
          01103, Ukraine, Kyiv region,
          Druzhbi Narodiv Boulevard, 8/9

          Mr. I. Mihno
          Temporary Insolvency Manager
          Phone: (044) 243-32-58

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


LVIV' RUBBER: Court Appoints Liquidator
---------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Lviv' Rubber Technical Devices Plant (code
EDRPOU 00152419) on June 8, 2005 after finding the open joint
stock company insolvent.  The case is docketed as 6/309-29/270.
Mr. Volodimir Yatsik (License Number AA 520106) has been
appointed liquidator/insolvency manager.

CONTACT:  LVIV' RUBBER TECHNICAL DEVICES PLANT
          79019, Ukraine, Lviv region,
          Zhovkivska Str. 22

          Mr. Volodimir Yatsik
          Liquidator/Insolvency Manager
          80400, Ukraine, Lviv region,
          Kamyanka-Buzka, Peremogi Str. 40/29

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


MGKBUD: Zaporizhya Court Opens Bankruptcy Proceedings
-----------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against LLC MGKBUD (code EDRPOU 23856436) on June 8,
2005 after finding the limited liability company insolvent.  The
case is docketed as 25/104.  Ms. Svitlana Smirnova (License
Number AB 216889) has been appointed liquidator/insolvency
manager.  The company holds account number 2600330011438 at JSCB
Ukrsocbank, Berdyansk branch, MFO 313452.

CONTACT:  MGKBUD
          71112, Ukraine, Zaporizhya region,
          Berdyansk, Shevchenko Str. 4

          Ms. Svitlana Smirnova
          Liquidator/Insolvency Manager
          71112, Ukraine, Zaporizhya region,
          Berdyansk, Chervona Str. 44/1

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


RASSVET-2: Temporary Insolvency Manager Comes in
------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Rassvet-2 (code EDRPOU 03740039).
The case is docketed as 26/8/05.  Ms. Galina Zubanenko (License
Number AA 116131) has been appointed temporary insolvency
manager.

CONTACT:  RASSVET-2
          Ukraine, Dnipropetrovsk region,
          Krinichanskij district, Preobrazhenka

          Ms. Galina Zubanenko
          Temporary Insolvency Manager
          51283, Ukraine, Dnipropetrovsk region,
          Novomoskovskij district,
          Pischanka, 40 Rokiv Peremogi, 2
          Phone: 8 (067) 56-00-998

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


RUNO: Court Names Temporary Insolvency Manager
----------------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on LLC Agrofirm Runo (code EDRPOU 32214332)
on June 2, 2005.  The case is docketed as 12/53-05.  Mr. Dmitro
Pehterev (License Number AA 779237) has been appointed temporary
insolvency manager.  The company holds account number
26004055000170 at CB Privatbank, Sumi branch, MFO 337546.

CONTACT:  RUNO
          42217, Ukraine, Sumi region,
          Lebedin district, Kurgan

          Mr. Dmitro Pehterev
          Temporary Insolvency Manager
          40022, Ukraine, Sumi region,
          Psilska Str. 4/9

          ECONOMIC COURT OF SUMI REGION
          40030, Ukraine, Sumi region,
          Shevchenko Avenue, 18/1


TAHO-TP: Succumbs to Bankruptcy
-------------------------------
The Economic Court of Lviv region commenced bankruptcy
supervision procedure on LLC Taho-TP.  The case is docketed as
6/116-29/105.  Mr. Yaroslav Kachmarik (License Number AA 419448)
has been appointed temporary insolvency manager.  The company
holds account number 26005017676 at JSC Credit-Bank-Ukraine, Lviv
branch, MFO 325365.

CONTACT:  TAHO-TP
          79066, Ukraine, Lviv region,
          Zelena Str. 292-V

          Mr. Yaroslav Kachmarik
          Temporary Insolvency Manager
          79000, Ukraine, Lviv region,
          Sadova Str. 23/20

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


TRADE HOUSE: Declared Insolvent
-------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Trade House Region (code EDRPOU 31146801) on
May 11, 2005 after finding the limited liability company
insolvent.  The case is docketed as 25/100.  Ms. Smirnova
Svitlana (License Number AB 216889) has been appointed
liquidator/insolvency manager.

CONTACT:  TRADE HOUSE REGION
          71118, Ukraine, Zaporizhya region,
          Berdyansk district, Mikolayivka,
          Peremogi Str. 3

          Ms. Svitlana Smirnova,
          Liquidator/Insolvency Manager
          71112, Ukraine, Zaporizhya region,
          Berdyansk, Chervona Str. 44/1

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


VITOL-KA: Bankruptcy Supervision Starts
---------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on LLC Vitol-Ka (code EDRPOU 31305994).
The case is docketed as 43/427.  Mr. A. Gunko (License Number AA
520124) has been appointed temporary insolvency manager.  The
company holds account number 26000285961001/980 at CB Privatbank,
Kyiv region branch, MFO 321842.

CONTACT:  VITOL-KA
          01103, Ukraine, Kyiv region,
          Kikvidze Str. 26

          Mr. A. Gunko
          Temporary Insolvency Manager
          Phone: (044) 219-12-53, 455-99-07

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


* 20 Local Banks Undergoing Liquidation
---------------------------------------
Out of the 184 banks in Ukraine's State Register of Banks, 20 or
10.8% are currently being liquidated, said Interfax.

A statement from the National Bank of Ukraine showed that of the
number, 14 have been ordered to wind-up by the central bank, five
following an arbitration court ruling, and one upon the request
of owners.

The NBU also disclosed that as of August 1, there are 163
commercial banks operating in Ukraine, 133 of these are joint-
stock companies.  Out of the 133 JSCs, 92 are open-end, which
include two state-owned banks; 41 are closed, and 30 are
limited-liability companies.

In July, Interfax reported that at least 21 out of the then 185
banks in Ukraine's State Register of Banks were undergoing
liquidation proceedings.

CONTACT:  NATIONAL BANK OF UKRAINE
          9 Instytutska St., Kyiv 01601
          Phone: (38 044) 253-01-80
          Fax: (38 044) 230-20-33, 253-77-50
          Web site: http://www.bank.gov.ua/


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


ABRIDGE ENTERPRISES: Hires Administrators from Begbies Traynor
--------------------------------------------------------------
Name: ABRIDGE ENTERPRISES LIMITED
      (Company No 00931695)

Nature of Business: Coach/Excursion/Holiday Operators

Address of Registered Office: 303 London Road, Hadleigh,
Benfleet, Essex SS7 2BN

Date of Appointment: July 29, 2005

Administrators' Names and Address: Mark Robert Fry and Louise
Donna Baxter (IP Nos 008588 and 009123), both of Begbies Traynor,
The Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex
SS1 2EG

CONTACT:  ABRIDGE ENTERPRISES LTD
          Unit 7 Farrow Commercial Center,
          Thorrington, Colchester,
          Essex CO7 8JD
          Phone: 01206-252194

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


ANSA TRADING: Winding-up Gets Go Signal
---------------------------------------
Company Name: ANSA TRADING LIMITED
              46 Quinbrookes, Slough,
              Berkshire, SL2 5RU

Registration Number: 04808333

Court: Bristol District Registry

Date of Filing Petition: June 9, 2005

No. of Matter: 2411 of 2005

Date of Winding-up Order: July 27, 2005

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


A.P. PROFESSIONAL: In Voluntary Liquidation
-------------------------------------------
At an Extraordinary General Meeting of the Members of A.P.
Professional Marketing Limited, convened and held at Bishop
Fleming, Priest House, 1624-1628 High Street, Knowle, Solihull,
West Midlands B93 0JU, 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, and that
Jeremiah Anthony O'Sullivan and Stephen Anthony John Ramsbottom
of Bishop Fleming, Priest House, 1624-1628 High Street, Knowle,
Solihull, West Midlands B93 0JU, 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."

N J Dugmore, Chairman

CONTACT:  BISHOP FLEMING
          Priest House, 1624-1628 High Street,
          Knowle, Solihull,
          West Midlands B93 0JU
          Web site: http://www.bishopfleming.co.uk


ARGYLE INVESTMENTS: Gears up for Liquidation
--------------------------------------------
Company Name: ARGYLE INVESTMENTS LTD.
              Baron House, 28 - 30 Rivington Street,
              London, EC2A 3DZ

Registration Number: 04575226

Court: High Court of Justice

Date of Filing Petition: June 8, 2005

No. of Matter: 003726 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


ARTWAY LIMITED: Members Opt for Winding-up
------------------------------------------
At the extraordinary general meeting of Artway Limited, duly
convened, and held at Alpha House, Regis Road, Kentish Town,
London NW5 3EW, on 27 July 2005, the subjoined Special Resolution
was duly passed:

"That the Company be wound-up voluntarily and Martha H. Thompson
of BDO Stoy Hayward LLP, Kings Wharf, 20-30 Kings Road, Reading,
Berkshire RG1 3EX, be and is hereby appointed Liquidator for the
purposes of such winding-up."

B R Prince, Chairman

CONTACT:  BDO STOY HAYWARD
          Kings Wharf,
          20-30 Kings Road,
          Reading, Berkshire RG1 3EX
          Phone: 0118 925 4400
          Fax: 0118 925 4470
          E-mail: reading@bdo.co.uk
          Web site: http://www.bdostoyhayward.co.uk


BAE SYSTEMS: Wins US$122 Million U.S. Army Contract
---------------------------------------------------
BAE Systems plc has been awarded a contract modification worth a
minimum of US$122.3 million (GBP68 million) for the transition
effort for two Armed Robotic Vehicle (ARV) variants for the U.S.
Army's Future Combat Systems.

Buck Tanner, Armed Robotic Vehicle Program Manager for BAE
Systems, said: "BAE Systems is committed to bringing the new
capabilities of the Armed Robotic Vehicles to the Army, and to
our soldiers as quickly as we can."

This contract modification, awarded April 6, increases the total
authorized value of the System Development and Demonstration
(SDD) contract from US$189 million to US$311.3 million, which
could increase to US$320.5 million if US$9.2 million in
additional task orders are authorized.

In 2003, BAE Systems was selected by the FCS Lead System
Integrator to design and develop the two ARV variants to provide
the FCS-equipped Units of Action with the ability to see and
strike the enemy first, while offering soldiers unprecedented
protection and survivability that would reduce exposure in high
vulnerability reconnaissance and assault missions.

Under the current modification, the ARV program has been
accelerated and BAE Systems is now scheduled to field the first
prototypes in 2010, with fielding to FCS-equipped Units of Action
scheduled for 2012-2014.  The period of performance has been
extended through March 2013.

This modification also increases the prototype quantities for two
of the ARV variants.

The semi-autonomous ARV is the largest unmanned ground vehicle in
the Army's FCS program, and will be an integral platform within
platoons and companies in the FCS-equipped Units of Action.  ARV
is to be about the size of a large pickup truck and will be
highly deployable, either two at a time on C-130 airplanes or
individually with CH-47 helicopters.  The ARV is intended to
provide battlefield commanders new and unmatched capabilities for
reconnaissance, surveillance, target acquisition, as well as
assault firepower.  The two variants will share a common chassis.

One of the ARV variants will carry a cannon for self-defense,
disperse ground sensors, and conduct battle damage assessments.
The other ARV variant integrates Beyond-Line-of-Sight (BLOS)
missiles, a powerful automatic cannon and a high rate of machine
gun fire.

BAE Systems is also working under an SDD contract for FCS Manned
Ground Vehicle (MGV) development, and is teamed with General
Dynamics to lead the MGV effort.  The companies have integrated
design teams developing a family of eight manned ground vehicles
featuring a common platform design with common components and
subsystems, with unique mission modules.

About BAE Systems

BAE Systems is an international company engaged in the
development, delivery, and support of advanced defense and
aerospace systems in the air, on land, at sea, and in space.

The company designs, manufactures, and supports military
aircraft, combat vehicles, surface ships, submarines, radar,
avionics, communications, electronics, and guided weapon systems.
It is a pioneer in technology with a heritage stretching back
hundreds of years and is at the forefront of innovation, working
to develop the next generation of intelligent defense systems.

BAE Systems has major operations across five continents and
customers in some 130 countries.  The company employs nearly
100,000 people and generates annual sales of approximately US$25
billion through its wholly owned and joint-venture operations.

                            *   *   *

In June, Fitch Ratings downgraded BAE Systems Plc's Senior
Unsecured and Short-term ratings to 'BBB' and 'F3' from 'BBB+'
and 'F2', respectively and removed them from Rating Watch
Negative (RWN).  A Stable Outlook has been assigned.
Approximately GBP3.8 billion of debt was affected by this rating
action.

The downgrade reflects BAE's increased net leverage, as
anticipated in Fitch's rating action commentary dated 7 March
2005, following its US$4.2 billion (GBP2.2 billion) acquisition
of U.S.-based United Defense Industries (senior secured bank
facility rated at 'BB+', Outlook Positive), which closed on 24
June 2005.

CONTACT:  BAE SYSTEMS PLC
          Warwick House, Farnborough Aerospace Center
          Farnborough
          Hampshire GU14 6YU, United Kingdom
          Phone: +44-1252-373-232
          Fax: +44-1252-383-000
          Web site: http://www.baesystems.com


BAYMOVER LTD.: Winds up Under Court Order
-----------------------------------------
Company Name: BAYMOVER LTD.
              Seymour Chambers, 92 London Road,
              Liverpool, L3 5NW

Registration Number: 04830488

Court: High Court of Justice

Date of Filing Petition: May 9, 2005

No. of Matter: 002997 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          2nd Floor, Cunard Building,
          Pier Head,
          Liverpool, L3 1DS
          Phone: 0151 236 9131
          Fax: 0151 2437800


BENTSFIELD AIR: Members Decide to Liquidate Firm
------------------------------------------------
At an Extraordinary General Meeting of the Members of Bentsfield
Air Conditioning Limited, duly convened and held at BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU, on 5 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
Paul A Whitwam and David L Cockshott of the firm of BWC Business
Solutions, 8 Park Place, Leeds LS1 2RU, be and are hereby
appointed as Joint Liquidators for the purpose of such
winding-up."

A Aldridge, Chairman

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


BLUE PYJAMAS: Court Approves Liquidation
----------------------------------------
Company Name: BLUE PYJAMAS LIMITED
              First Floor, Alpine House,
              Unit 2, Honeypot Lane,
              London, NW9 9RX

Registration Number: 4922866

Court: Bristol District Registry

Date of Filing Petition: June 3, 2005

No. of Matter: 2353 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


BOVINGDON VEHICLE: EGM Decides on Winding-up
--------------------------------------------
At an Extraordinary General Meeting of the Members of Bovingdon
Vehicle Repair Centre, duly convened and held at Nunn Hayward,
Rycote Place, 30-38 Cambridge Street, Aylesbury, Buckinghamshire
HP20 1RS, on 25 July 2005, at 10:00 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."
At a subsequent Meeting of Creditors held on the same day
pursuant to section 98 of the Insolvency Act 1986, the following
Ordinary Resolution was duly passed:

"That David A Butler of Nunn Hayward be and he is hereby
appointed Liquidator for the purposes of such winding-up."

M Bartlett, Chairman

CONTACT:  NUNN HAYWARD
          Rycote Place
          30-38 Cambridge Street
          Aylesbury
          Buckinghamshire HP20 1RS
          Phone: 01296 395495
          Fax: 01296 395123
          E-mail: davidb@ay.nunn-hayward.com


B & R COMMERCIAL: Administrators from Deloitte & Touche Move in
---------------------------------------------------------------
Name: B & R COMMERCIAL REPAIRS LIMITED
      (Company No 01394331)

Nature of Business: Repair and Service of Commercial Vehicles

Address of Registered Office: 20-22 New Star Road, Leicester LE4
9JD

Date of Appointment: August 1, 2005

Administrators' Names and Address: Christopher James Farrington
(IP No 008751), Deloitte & Touche LLP, 1 Woodborough Road,
Nottingham NG1 3FG and Andrew Philip Peters (IP No 004468),
Deloitte & Touche LLP, Four Brindleyplace, Birmingham B1 2HZ

CONTACT:  B & R COMMERCIAL REPAIRS LTD
          Tweed Road
          Weedon Road Industrial Estate
          Northampton NN5 5AJ
          United Kingdom
          Phone: (01604) 583778
          Fax: (01604) 588783

          DELOITTE & TOUCHE LLP
          1 Woodborough Road,
          Nottingham NG1 3FG
          Phone: +44 (0) 115 950 0511
          Fax:   +44 (0) 115 959 0060
          Web site: http://www.deloitte.com

          DELOITTE & TOUCHE LLP
          Four Brindleyplace
          Birmingham B1 2HZ, UNITED KINGDOM
          Phone: +44 (0) 121 632 6000
          Fax: +44 (0) 121 695 5678
          Web site: http://www.deloitte.com


BRITISH BENZOL: Administrators Takes over Business
--------------------------------------------------
Name: BRITISH BENZOL LIMITED
      (Company No 02705351)

Nature of Business: Distributor of Heating Oil and Other
Petroleum Products

Address of Registered Office: 105 St Peter's Street, St Albans,
Hertfordshire AL1 3EJ

Date of Appointment: August 4, 2005

Administrators' Names and Address: David Rubin and Asher Miller
(IP Nos 2591 and 9251), both of Pearl Assurance House, 319
Ballards Lane, London N12 8LY

                            *   *   *

British Benzol Ltd is a family-owned business.  It is one of the
largest Independent Oil Distributors in the United Kingdom
covering primarily the South East and South West of England.
Visit http://www.britishbenzol.co.uk/for more information.

CONTACT:  BRITISH BENZOL LTD
          1 Triangle Business Park
          Quilters Way
          Stoke Mandeville
          Aylesbury
          Bucks HP22 5BL
          Phone: 0870 060 3366
          Fax: 01296 501560
          E-mail: sales@britishbenzol.co.uk

          DAVID RUBIN & PARTNERS
          Pearl Assurance House,
          319 Ballards Lane,
          London N12 8LY
          Phone: 020 8343 5900
          Fax: 020 8446 2994
          Web site: http://www.drpartners.com


CAPEL MANOR: Crumbles to Liquidation
------------------------------------
Company Name: CAPEL MANOR KENNELS LTD.
              Whitewebbs Lane, Enfield,
              Middlesex, EN2 9HH

Registration Number: 03859865

Court: High Court of Justice

Date of Filing Petition: June 9, 2005

No. of Matter: 003777 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


CGU INTERNATIONAL: Meeting Set October
--------------------------------------
IN THE HIGN COURT OF JUSTICE (CHANCERY DIVISION) No.4770 of 2005
COMPANIES COURT

     In the Matter of THE NORTHERN ASSURANCE COMPANY LIMITED
                          ("Northern")
                              and
        In the Matter of CGU INTERNATIONAL INSURANCE PLC
                            ("CGUII")
   In the Matter of THE OCEAN MARINE INSURANCE COMPANY LIMITED
                         ("Ocean Marine")
                               and
  In the Matter of the Financial Services and Markets Act 2000

Notice is hereby given that an application (the "Application")
for an order sanctioning a general insurance business transfer
scheme (the "Scheme") under Part VII of the Financial Services
and Markets Act 2000 was on 28 July 2005 presented at the High
Court by Northem.  The Scheme provides for the transfer of
substantially the whole of the general insurance business of
Northern to Ocean Marine and the remainder to CGUII.

Copies of a summary of the Scheme and a report on the terms of
the Scheme prepared by an independent expert are available at
http://www.aviva.com/northem. Copies can also be obtained free
of charge from Barlow Lyde & Gilbert (the solicitors acting for
the Northem, CGUII and Ocean Marine), whose details are given
below.

The Application is directed to be heard before the Companies
Court Judge at the Royal Courts of Justice, Strand, London WC2A
2LL on 6 October 2005.  Any person who believes that he or she
would be adversely affected by the carrying out of the Scheme is
entitled to be heard (in person or by legal representative) by
the High Court at the hearing of the Application.  Any person who
intends to do so, and any person who dissents from the Scheme but
does not intend to appear at the hearing, is requested to notify
his or her objection as soon as possible and in any event before
4 October 2005, to Pollyanna Deane of Barlow Lyde & Gilbert at
Beaufort House, 15 St. Botolph Street, London EC3A 7NJ or by fax
to 00 44 (0) 20 7071 9756 or e-mail to northem@blg.co.uk.


CLEAN AND TIDY: Court Okays Liquidation
---------------------------------------
Company Name: CLEAN AND TIDY (U.K.) LTD.
              Suite 16 Beaufort Court,
              Admirals Way,
              London, E14 9XL

Registration Number: 04020048

Court: High Court of Justice

Date of Filing Petition: May 17, 2005

No. of Matter: 003219 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


CORPORATE SYSTEMS: Names Grant Thornton Administrator
-----------------------------------------------------
Company Names: CORPORATE SYSTEMS LIMITED
               (Company No 03289765)

               GENERAL COMPUTERS LIMITED
               (Company No 02645971)

               GRANVILLE COMPUTER SYSTEMS LIMITED
               (formerly Tiny Computer Systems Ltd)
               Company No 03967398)

               GRANVILLE COMPUTERS LIMITED
               (formerly Time Computers Limited)
               (Company No 02645968)

               GRANVILLE DISTRIBUTION LIMITED
               (formerly Time Group Distribution Limited)
               (Company No 03773008)

               GRANVILLE TECHNOLOGY GROUP LIMITED
               (Company No 02504182)

Nature of Businesses: Non-trading Company; Hardware
Consultancy/Software Consultancy and Supply; Other Service
Activities; Hardware Consultancy; Other Service Activities; Other
Computer Related Activities

Address of Registered Office: Granville House, Time Technology
Park, Blackburn Road, Simonstone, Burnley, Lancashire BB12 7GT

Date of Appointment: July 27, 2005

Joint Administrators' Names and Address: Andrew Lawrence Hosking,
Martin Gilbert Ellis and Leslie Ross (IP Nos 9009, 8687 and
7244 ), all of Grant Thornton UK LLP, Grant Thornton House,
Melton Street, Euston Square, London NW1 2EP

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


CORUS GROUP: Venture Unveils 80% Rise in Steel Can Recovery
-----------------------------------------------------------
The U.K.'s center of expertise on steel can recycling, Corus
Steel Packaging Recycling, has launched its annual PRN report,
highlighting the progress achieved in steel can recycling as a
result of Corus' PRN investment.

Entitled "Targeting Recycling," the report demonstrates to the
packaging industry how Corus has invested income to enhance U.K.
steel packaging recycling rates during 2004.

Corus provides this investment using revenue derived from the
sale of Packaging Recovery Notes (PRNs), which packaging chain
companies are obliged to hold as evidence that their legal
responsibility to recover and recycle quantified tonnages of
packaging has been fulfilled.  PRNs are sold by accredited
recycling operators like Corus either to an obligated company or
to a Compliance Scheme acting on their behalf.

In 2004, through PRN investment, Corus helped 31 local
authorities, community recycling organizations and waste
management companies in initiatives to increase and improve their
recycling performance.  As well as providing specialist recycling
equipment, PRN revenue has also been used to fund technical
consultancy to support steel recovery.

One of the major achievements showcased in the report is the rise
in the number of steel cans collected through Corus' "CanRoute"
system - a number of dedicated centers that route the cans from
local authorities and the scrap industry to Corus' five
reprocessing plants.  In 2004, there was an 80% rise on 2003
levels in the recovery of steel cans through CanRoute, with
25,000 tonnes of steel cans being sent back to Corus through this
system to be reprocessed.  This success has been achieved as a
result of the investment in recycling schemes, which increases
material recovery and, in turn, increases supply to CanRoute
centers.

Corus has also invested PRN funds into strategic planning and
development.  As part of this, Corus has provided financial
support and expertise to a number of industry-led studies, which
aim to identify means of building on current steel packaging
recycling success and ensuring that the 2008 recycling targets
are met.

John May, Manager at Corus said: "There has been a significant
increase in the level of steel can recycling in 2004, which has
seen the level of steel packaging recycled reach 46%.  This is
very positive, however, there is still potential to increase this
activity further.

"Corus will continue to invest PRN revenue to keep this momentum
going.  Strategic planning is a key element of this so, as well
as investing in the U.K.'s recycling infrastructure, the next 12
months will see a shift towards an emphasis on participation.  We
need to work with local authorities to help raise householders'
awareness of the recyclability of steel and to encourage
participation."

Corus Steel Packaging Recycling (CSPR) is Corus' center of
technical and communications expertise on steel packaging
recycling.  It aims to facilitate and promote the recovery and
recycling of all types of steel packaging in the U.K.  Its
objectives are to provide an end market for the recovered steel,
to increase the recycling infrastructure through the strategic
application of PRN revenue, to provide advice and technical
information to public, private and not-for-profit organizations
on recovery schemes and to raise awareness among consumers and
the commercial sector of the recycling achievements of steel
packaging.

                   About the Company

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

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

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

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

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

          Annanya Sarin
          Corporate Communications
          Phone: 020 7717 4532

          Simon Collins
          Local Media
          Phone: 01536 403 4801


CRE8 SURFACES: Opts for Liquidation
-----------------------------------
Company Name: CRE8 SURFACES LTD.
              Unit 20, Railway Enterprise Centre,
              Shelton New Road,
              Stoke on Trent, ST4 7SH

Registration Number: 04840053

Court: Bristol District Registry

Date of Filing Petition: June 6, 2005

No. of Matter: 2363 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          Ground Floor, Copthall House,
          King Street,
          Newcastle-Under-Lyme, ST5 1UE
          Phone: 1782 664100
          Fax: 01782 664120


DIGNITY PLC: To Release Interim Results Next Month
--------------------------------------------------
Dignity plc's Interim Results for the 26 weeks ended 1 July 2005,
will be announced on 15 September 2005.

                            *   *   *

In March, Dignity plc reported profit before taxation for the
53-week period ended 31 December 2004 amounted to GBP3.1 million.
This is compared to a loss of GBP3.5 million in 2003.

It said that the lower than expected revenues in the period,
arising from a fall in the number of deaths, was more than offset
by continued strong cost control in all areas of the business.

The Group was listed on the London Stock Exchange in April 2004.
Funds raised from the issue of shares allowed the redemption of
the GBP40.0 million mezzanine loan and GBP57.0 million of the
GBP63.0 million principal of the loan notes 2013 incurring an
early redemption penalty of GBP4.0 million and the write-off of
GBP6.1 million of deferred issue costs.  The remaining GBP6.0
million principal of the loan notes 2013 were redeemed on 30 July
2004 from operational cash flows.

Following these redemptions, the Group's only material external
debt financing is the Class A and B secured notes, rated A and
BBB+ respectively, of which GBP205.3 million (2003: GBP208.9
million) was outstanding as at 31 December 2004.  Both tranches
of debt were issued at fixed rates of interest and will be
progressively repaid over the next 26 years.

CONTACT:  DIGNITY PLC
          Plantsbrook House
          94 The Parade
          Sutton Coldfield
          West Midlands
          B72 1PH
          Phone: 0121 354 1557
          Fax: 0121 321 5644
          E-mail: enquiries@dignityuk.co.uk
          Web site: http://www.dignityfunerals.co.uk


ENODIS PLC: 'BB/B+' Ratings Withdrawn After Bond Tender
-------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'BB' long-term
corporate credit and 'B+' subordinated debt ratings on U.K.-based
food service equipment maker Enodis PLC at the company's request.
This follows the effective defeasance of Enodis' outstanding
10.375% bonds due 2012.

On May 17, 2005, Enodis made a tender offer for 100% of its
outstanding bonds under a GBP100 million ($180 million), 10-year
issue due 2012.  On the closing of the offer on June 15, Enodis
had successfully tended about GBP80 million out of a possible
GBP100 million.  Subsequently, the company has defeased its
remaining obligations.  As a result, Enodis has requested that
both the corporate credit and issue ratings be withdrawn.

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

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


E YOU LIMITED: Appoints Joint Liquidators
-----------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of the Members of E You Limited, duly convened and held at Bank
Chambers, 1 Central Avenue, Sittingbourne, Kent ME10 4AE, on 5
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 Roderick Frowde and Amanda Janice Ireland, both of McCabe
Ford Williams, Bank Chambers, 1 Central Avenue, Sittingbourne,
Kent, be and they are hereby appointed Joint Liquidators of the
Company for the purpose of the voluntary winding-up."

At a subsequent Meeting of Creditors held on the same day and at
the same place, the appointment of the said Peter Roderick Frowde
and Amanda Janice Ireland as Joint Liquidators of the Company was
duly confirmed."

J Barnett, Chairman

CONTACT:  MCCABE FORD WILLIAMS
          Bank Chambers,
          1 Central Avenue,
          Sittingbourne, Kent ME10 4AE
          Phone: (01795) 479111
          Fax: (01795) 428810
          E-mail: sittingbourne@mfw.co.uk
          Web site: http://www.mfw.co.uk


GLOBAL MANUFACTURING: Winding-up Receives Green Light
-----------------------------------------------------
Company Name: GLOBAL MANUFACTURING LTD.
              14 Banfield Road, Wednesbury,
              West Midlands, WS10 7QU

Registration Number: 04504305

Court: High Court of Justice

Date of Filing Petition: June 10, 2005

No. of Matter: 003849 of 2005

Date of Winding-up Order: July 27, 2005

CONTACT:  Official Receiver
          3rd Floor East, Ladywood House,
          45/6 Stephenson Street
          Birmingham, B2 4UP
          Tel: 0121 698 4147
          Fax: 0121 698 4408


GRANVILLE TECHNOLOGY: Court Decision Saves 165 Jobs
---------------------------------------------------
Administrators of Granville Technology have reportedly saved the
jobs of 165 workers left at the company following its collapse.

According to Accountancy Age, administrators Grant Thornton and
lawyers Lovells won a case in the Court of Appeal leading to the
reversal of judgment on the Krasner vs. McMath case.

The Krasner vs. McMath case "found that protective awards and
payments in lieu of notice received 'super priority' under the
Insolvency Act."

This would mean that if a company undergoes administration, these
liabilities should be prioritized over all other payments.  The
condition would more likely prompt administrators to drop
employment contracts within 14 days of the firm's collapse.

Lawyers Lovells said the turnaround ensured that the "rescue
culture" was not hindered by these employment liabilities
demanding "super priority."

In July, Granville Technology fell into administration, stripping
about 1,500 people of their jobs.  According to the Inquirer, the
collapse of U.K.'s largest computer maker came after facing
monthly losses of around GBP2 million since the start of 2005.
The crisis also saw the closure of
of 78 retail outlets.

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

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


GREENSIX LIMITED: Court Says Yes to Liquidation
----------------------------------------------
Company Name: GREENSIX LIMITED
              East Ham Sports Ground,
              Southend Road,
              London, E6 2AA

Registration Number: 03925866

Court: Bristol District Registry

Date of Filing Petition: June 9, 2005

No. of Matter: 2423 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


HNS CONSULTANTS: In Liquidation
-------------------------------
At an Extraordinary General Meeting of the Members of HNS
Consultants Limited (t/a Hand Tools Are Us), duly convened and
held at 4 St Giles Court, Southampton Street, Reading RG1 2QL, on
3 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 P
R Boyle and J C Sallabank of Harrisons, 4 St Giles Court,
Southampton Street, Reading RG1 2QL be and are hereby appointed
Joint Liquidators for the purposes of such winding-up, and that
the Joint Liquidators may act jointly or severally in all matters
relating to the conduct of the liquidation of the Company."

G N Sloan, Director

CONTACT:  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


HOQUE & COMPANY: Calls in Liquidator
------------------------------------
At an Extraordinary General Meeting of the Members of Hoque &
Company Limited, duly convened, and held at Crawfords, Stanton
House, 41 Blackfriars Road, Salford, Manchester M3 7DB, 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
David Norman Kaye, of Crawfords, Stanton House, 41 Blackfriars
Road, Salford, Manchester M3 7DB, be and he is hereby nominated
Liquidator for the purposes of the winding-up."

Director

CONTACT:  CRAWFORDS
          Stanton House
          41 Blackfriars Road
          Salford
          Manchester
          Greater Manchester M3 7DB
          Phone: 0161 828 1000
          Fax: 0161 832 1829
          E-mail: akachani@aol.com


HUDSONS (STORAGE): Winds up Voluntarily
---------------------------------------
At an Extraordinary General Meeting of Hudsons (Storage) Limited,
duly convened, and held at 42-43 Reddal Hill Road, Cradley Heath,
West Midlands B64 5JS, 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
Neil Francis Hickling, of Smith & Williamson Limited, No 1 St
Swithin Street, Worcester WR1 2PY, be and is hereby appointed
Liquidator for the purposes of such winding-up."

At a subsequent Meeting of Creditors held on 28 July 2005 at
42-43 Reddal Hill Road, Cradley Heath, West Midlands B64 5JS, the
appointment of Neil Francis Hickling was confirmed by the
Creditors.

C M Hudson, Chairman

CONTACT:  SMITH & WILLIAMSON
          1 St Swithin Street
          Worcester
          Worcestershire WR1 2PY
          Phone: 01905 730100
          Fax: 01905 723502
          E-mail: nfh@smith.williamson.co.uk


IDENT EYECARE: Liquidator from Antony Batty Enters Firm
-------------------------------------------------------
At the extraordinary general meeting of Ident Eyecare Limited,
duly convened, and held at 63 Upper Park Road, Camberley, Surrey
GU15 2EE, on 2 August 2005, at 11:00 a.m., the subjoined Special
Resolution was duly passed:

"That the Company be wound-up voluntarily.  William Antony Batty,
Antony Batty & Co., New House, Suite 24, 67-68 Hatton Garden,
London EC1N 8JY has been appointed liquidator of the company."

J F Williams, Chairman

                            *   *   *

The company offers medical practice activities.

CONTACT:  IDENT EYECARE LTD
          36a Arkwright Rd., Hampstead
          London, NW3 6BH
          Phone: 020 7580 1200

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


INNATE CONSULTANCY: Calls in Liquidator
---------------------------------------
At the extraordinary general meeting of Innate Consultancy
Limited, duly convened, and held at 109 Newmarket Road, Norwich
NR2 2HT, on 29 July 2005, at 11:00 a.m., the following
Resolutions were duly passed, as a Special Resolution, an
Ordinary Resolution and as an Extraordinary Resolution
respectively:

"That Innate Consultancy Limited be wound up voluntarily, and
that Mark Prideaux of Debtmatters, Tarleton House, 112A-116
Chorley New Road, Bolton BL1 4DH, be and is hereby appointed
Liquidator for the purpose of winding-up the Company's affairs
and distributing its assets, and that the assets of the Company
be distributed in specie to the Members of the Company."

S Lowe, Chairman

CONTACT:  DEBTMATTERS
          Tarleton House,
          112A-116 Chorley New Road,
          Bolton BL1 4DH


INNOVATE MOTORSPORT: Members Opt for Liquidation
------------------------------------------------
At an Extraordinary General Meeting of the Members of Innovate
Motorsport Limited, duly convened, and held at Purnells, St Marks
House, 3 Gold Tops, Newport, South Wales NP20 4PG, on 2 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
Ray Purnell, of Purnells, St Marks House, 3 Gold Tops, Newport,
South Wales NP20 4PG, be and he is hereby nominated Liquidator
for the purpose of the winding-up."

G R Hockey, Director

CONTACT:  PURNELLS
          St Marks House
          3 Gold Tops
          Newport
          Gwent NP 20 4PG
          Phone: 01633 214712
          Fax: 01633 246599
          E-mail: ray@purnells.co.uk


INNOVATE SPORT: Members Pass Winding-up Resolution
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Innovate
Sport Limited, duly convened, and held at Purnells, St Marks
House, 3 Gold Tops, Newport, South Wales NP20 4PG, on 2 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
Ray Purnell, of Purnells, St Marks House, 3 Gold Tops, Newport,
South Wales NP20 4PG, be and he is hereby nominated Liquidator
for the purpose of the winding-up."

G R Hockey, Director

CONTACT:  PURNELLS
          St Marks House
          3 Gold Tops
          Newport
          Gwent NP 20 4PG
          Phone: 01633 214712
          Fax: 01633 246599
          E-mail: ray@purnells.co.uk


J. S. ARNOLD: Liquidators from Vantis Move in
---------------------------------------------
At an Extraordinary General Meeting of J. S. Arnold (Coach
Builders) Limited, duly convened, and held at The Ardington
Hotel, 30-38 Steyne Gardens, Worthing, West Sussex BN11 3DZ, on 1
August 2005, at 11:00 a.m., the following Resolutions were duly p
assed, as an Extraordinary Resolution and as Ordinary Resolutions
respectively:

"That it had 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
Colin Ian Vickers and Nicholas Hugh O'Reilly, of Vantis Numerica,
4th Floor, Southfield House, 11 Liverpool Gardens, Worthing, West
Sussex BN11 1RY and 66 Wigmore Street, London W1A 3RT, be and are
hereby appointed Joint Liquidators for the purposes of such
winding-up and that anything required or authorised to be done by
the Joint Liquidators be done by both or either of them."

At a subsequent Meeting of Creditors, duly convened pursuant to
section 98 of the Insolvency Act 1986, and held on the same day,
the appointment of Colin Ian Vickers and Nicholas Hugh O'Reilly
was confirmed.

E Boulter, Chairman

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


KIWI DIGITAL: Files for Liquidation
-----------------------------------
At an Extraordinary General Meeting of Kiwi Digital Media Design
Limited held at Church Steps House, Queensway, Halesowen, West
Midlands B63 4AB, on Thursday 28 July 2005, at 10:30 a.m., the
following Extraordinary Resolutions were duly passed:

"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, and
that Andrew Fender, of Sanderlings LLP, Sanderling House, 1071
Warwick Road, Acocks Green, Birmingham B27 6QT, be and is hereby
nominated Liquidator for the purpose of said winding-up."

J White, Chairman

CONTACT:  SANDERLINGS LLP
          Sanderling House,
          1071 Warwick Road,
          Acocks Green, Birmingham B27 6QT


MASS SPECTROMETRY: Appoints DTE Leonard Curtis Administrator
------------------------------------------------------------
Name: MASS SPECTROMETRY INTERNATIONAL LIMITED
      (Company No 01916424)

Nature of Business: Other Manufacture

Registered Office of Company: 21-23 Market Street, Altrincham,
Cheshire WA14 1QS

Date of Appointment: August 3, 2005

Administrators' Names and Address: J. M. Titley and A. Poxon (IP
Nos 8617 and 8620), both of DTE Leonard Curtis, of DTE House,
Hollins Mount, Bury BL9 8AT

CONTACT:  DTE LEONARD CURTIS
          DTE House, Hollins Mount,
          Bury BL9 8AT
          Phone: 0161 767 1200
          Fax: 0161 767 1201
          Web site: http://www.dtegroup.com


MJW HANDLING: Calls in Administrators from UHY Hacker Young
-----------------------------------------------------------
Name: MJW HANDLING SERVICES LIMITED
      (Company No 04480135)

Nature of Business: Fork Lift Truck Services

Trade Classification: 7487 Other Business Services

Date of Appointment: August 1, 2005

Administrator's Name and Address: Andrew Andronikou and Ladislav
Hornan (IP Nos 1253 and 2059), both of UHY Hacker Young, St
Aphage House, 2 Fore Street, London EC2Y 5DH

                            *   *   *

Visit http://www.mjw-handling.co.uk/for more information.

CONTACT:  UHY HACKER YOUNG
          St Aphage House,
          2 Fore Street, London EC2Y 5DH
          Phone: 020 7216 4600
          Fax: 020 7638 2159
          Web site: http://www.uhy-uk.com


M P SERVICES: Administrators from P&A Take over Operation
---------------------------------------------------------
Name: M P SERVICES (UK) LIMITED
      (Company No 05001491)

Nature of Business: Distribution of Steel Products

Registered Office of Company: 35 Ludgate Hill, Birmingham B3 1EH

Date of Appointment: August 4, 2005

Joint Administrators' Names and Address: M. D. Hardy and A.
Turpin (IP Nos 9160 and 8936), both of Poppleton & Appleby, 35
Ludgate Hill, Birmingham B3 1EH

CONTACT:  POPPLETON & APPLEBY
          35 Ludgate Hill,
          Birmingham B3 1EH
          Phone: 0121 200 2962
          Web site: http://www.pandabirmingham.co.uk


NTL INCORPORATED: Hires Ex-Lloyds TSB Boss as New COO
-----------------------------------------------------
NTL Incorporated has appointed Neil Berkett as Chief Operating
Officer with effect from 26 September, 2005.

Formerly Managing Director, Distribution, of Lloyds TSB Group
Plc, Mr. Berkett will be responsible for running ntl's day-to-day
operations, helping the Company to become the U.K.'s premier
provider of communications and entertainment services.  He will
report to Simon Duffy, Chief Executive Officer of ntl, and will
be based in the Company's operational headquarters in Hook,
Hampshire.  He will join ntl's Group Operating Board.

Mr. Berkett joined Lloyds TSB in 2003 as Managing Director,
Distribution, responsible for the distribution of products across
all channels for the bank with a workforce of some 30,000.
During his tenure at Lloyds TSB, he improved customer service
significantly in comparison with the company's competitors,
established Distribution as a profit center, and implemented a
major change program focused on developing a local market
approach to retail banking.

Prior to his tenure with Lloyds TSB, Mr. Berkett served as Chief
Operating Officer at Prudential Assurance Company Ltd, where he
was responsible for customer service, business transformation and
information technology.  At Prudential, he drove the
transformation of its U.K. business including significant
company-wide customer service improvements.  He also successfully
set up Prudential's offshore operation in India, from concept to
launch.

In 1995, Mr. Berkett was recruited by St. George Bank, Australia'
s fifth largest bank, as Head of Retail, responsible for group
operations, retail banking, marketing and product management.
During his time at St. George, Mr. Berkett oversaw the retail
business turnaround, successfully creating a customer focused
organization and launching a highly successful loyalty program
that increased market share.

In 1996, St. George merged with Australia's sixth largest bank,
Advance Bank.  He was appointed Director of Integration reporting
directly to the Board sub committee.  His leadership of the
integration program enabled the joint company to exceed its
merger targets, maintain its customer service levels and become
one of Australia's leading high street banks.

Simon Duffy, Chief Executive Officer of ntl, said: "I am
delighted to welcome Neil to ntl.  He has a strong track record
of managing change and driving operational improvements in highly
competitive industries.  His substantial experience in
customer-facing organizations will be invaluable to us as we
continue to improve and grow our U.K. cable business."

Neil Berkett said: "I am very pleased to be joining ntl and
excited by the opportunity.  The Company has great prospects and
I look forward to working with an already strong team to
capitalize on those opportunities."

                            *   *   *

Earlier this month, Simon Duffy, Chief Executive Officer, said:
"During the second quarter we focused on driving strong operating
performance.  Further improvements in sales productivity led to
another record quarter of gross customer additions.  Net customer
additions were bolstered by our continued improvement in customer
churn.

"As previously announced, we sold our Ireland operation for net
proceeds of EUR325 million (GBP219.8 million) on May 9, 2005.
Second quarter revenue was GBP482.5 million, down 2.3% compared
to the prior year period, primarily due to lower Business
revenue.

"Business revenue of GBP103.6 million was down 16.5% over the
same period last year, which included GBP10.7 million of
wholesale revenue from virgin.net.  Operating income was GBP6.4
million versus an operating loss of GBP22.6 million during the
same period last year.

"Loss from continuing operations of GBP66.1 million improved from
a loss of GBP267.0 million during the same period last year due
to the improvement in operating income, a reduction in net
interest expense and because Q204 included a GBP162.2 million
loss from extinguishment of debt.

"Net income was GBP73.5 million versus a net loss of GBP249.9
million during the same period last year.  The improvement
reflects the reduced loss from continuing operations and a
GBP137.2 million gain from the sale of our Ireland operations
completed on May 9, 2005.

"We utilized the proceeds from the sale of our Ireland operations
to reduce the balance of our Tranche A term loan by GBP200
million in June and by a further GBP23 million in July. Total
outstanding bank debt following these payments is GBP1.45
billion.  Additionally, on July 15, the company redeemed its
GBP100 million floating rate senior notes due 2012.  The total
principal amount of senior notes outstanding following this
redemption is GBP764 million and total debt, excluding the
undrawn GBP250 million revolving bank loan, is approximately
GBP2.3 billion."

CONTACT:  NTL INCORPORATED
          Bartley Wood Business Park
          Bartley Way
          Hook
          Hampshire R627 9UP
          Phone: +44-1256-75-2000
          Fax: +44-1256-75-4100
          Web site: http://www.ntl.com


PAUL FOX: Liquidator Moves in
-----------------------------
At an Extraordinary General Meeting of the Members of Paul Fox
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."

P Fox, Director

CONTACT:  SHARMA & CO.
          50 Newhall Street
          Birmingham
          West Midlands B3 3QE
          Phone: 0121 248 5007
          Fax: 0121 248 5010
          E-mail: gagen@sharmaandco.com


PERCY DANIEL: Names Moore Stephens Liquidator
---------------------------------------------
At an Extraordinary General Meeting of Percy Daniel and Company
Limited, convened, and held at 1-2 Little King Street, Bristol
BS1 4HW, on 29 July 2005, at 11:30 a.m., the following
Resolutions were passed, as an Extraordinary Resolution and as an
Ordinary Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Colin Andrew Prescott, of Moore Stephens, 1-2 Little King Street,
Bristol BS1 4HW, be appointed Liquidator for the purpose of the
voluntary winding-up."

C Manners, Chairman

CONTACT:  MOORE STEPHENS
          1-2 Little King Street,
          Bristol BS1 4HW
          Web site: http://www.moorestephens.co.uk


PETE COSSIE: EGM Passes Winding-up Resolutions
----------------------------------------------
At an Extraordinary General Meeting of Pete Cossie Limited (t/a
Severn Conservatories), duly convened, and held at The Holiday
Inn Telford/Ironbridge, St Quentin Gate, Telford TF3 4EH, on 29
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 Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up, and
that the Company be wound up accordingly, and that Jonathan Lord,
of Bridgestones, 125-127 Union Street, Oldham OL1 1TE, be and is
hereby appointed as Liquidator of the Company for the purposes of
such winding-up."

P Cossie, Chairman

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


PRESELI ELECTRICAL: Goes into Liquidation
-----------------------------------------
At an Extraordinary General Meeting of the Members of Preseli
Electrical Limited, duly convened, and held at Holiday Inn
Express, Llandarcy, Neath, Swansea, South Wales, 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, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Robert C Keyes be and he is hereby appointed Liquidator for the
purposes of such winding-up."

A Herbert, Director

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


REGENCY PROPERTY: Calls in Liquidators from Portland Business
-------------------------------------------------------------
At an Extraordinary General Meeting of Regency Property
Developers Limited, duly convened, and held at 43 Pall Mall,
London SW1V 5JG, on 27 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 Robin Bacon and Carl Derek Faulds, of Portland Business &
Financial Solutions Ltd., 1640 Parkway, Solent Business Park,
Whiteley, Fareham, Hampshire, be and they are hereby appointed
Joint Liquidators of the Company and that any act required or
authorized to be done by the Liquidators is to be done by both or
either of them for the time being holding office."

P Goodlace, Director

CONTACT:  PORTLAND BUSINESS & FINANCIAL SOLUTIONS LTD.
          1640 Parkway
          Solent Business Park
          Whiteley
          Fareham
          Hampshire PO15 7AH
          Phone: 01489 550 440
          E-mails: carl.faulds@portland-solutions.co.uk
                   james.tickell@portland-solutions.co.uk


SUPREME TRAVEL: Travel Agency Hires Administrator
-------------------------------------------------
Name: SUPREME TRAVEL LIMITED
      (Company No 01004784)

Nature of Business: Travel Agent and Tour Operator

Registered Office of Company: The Old Exchange, 234 Southchurch
Road, Southend-on-Sea, Essex SS1 2EG

Date of Appointment: July 29, 2005

Joint Administrators' Names and Address: Mark Robert Fry and
Louise Donna Baxter (IP Nos 008588 and 009123), both of Begbies
Traynor, The Old Exchange, 234 Southchurch Road, Southend-on-Sea,
Essex SS1 2EG

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


TACK 4 U: In Voluntary Liquidation
----------------------------------
At an Extraordinary General Meeting of the Members of Tack 4 U
Limited, duly convened, and held at the Travelodge, St Mary's
Street, Imperial Gate, Cardiff CF10 1FA, 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 the Company be wound up voluntarily, and that
David Kirk be and he is hereby appointed Liquidator for the
purposes of the voluntary winding-up."

K N Richards, Director

CONTACT:  David Kirk
          Southernhay House
          36 Southernhay East
          Exeter
          Devon EX1 1NX
          Phone: 01392 667000
          Fax: 01392 662751
          E-mail: SJH@francisclark.co.uk


TASKLAND LIMITED: Firm Names Administrators from Tenon Recovery
---------------------------------------------------------------
Name: TASKLAND LIMITED
      (Company No 04272678)

Nature of Business: General Construction and Civil Engineering

Registered Office of Company: 1 Newbery Commercial Centre,
Tollgate, Chandlers Ford, Eastleigh, Hampshire SO53 3TZ

Date of Appointment: August 3, 2005

Joint Administrators' Names and Address: Carl Stuart Jackson and
Nigel Fox (IP Nos 8860 and 8891), both of Tenon Recovery, 2nd
Floor, Berkeley House, Dix's Field, Exeter EX1 1PZ

                            *   *   *

Taskland Limited has approximately 65 employees.  The company
manufactures steelworks.  Visit http://www.taskland.co.ukfor
more information.

CONTACT:  TASKLAND LTD
          Unit 1, Newbery Commercial Centre
          Exeter Airport Business Park
          Exeter EX5 2UL
          United Kingdom
          Phone: (01392) 444555
          Fax: (01392) 444366

          TENON RECOVERY
          2nd Floor,
          Berkeley House,
          Dix's Field,
          Exeter EX1 1PZ
          Web site: http://www.tenongroup.com


THE FLOORING: Members Resolve to Liquidate Firm
-----------------------------------------------
At an Extraordinary General Meeting of the Members of The
Flooring Store Limited, duly convened, and held at 100-102 St
James Road, Northampton NN5 5LF, 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
Gary Steven Pettit 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."

G Hodkinson, 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


THE KITCHEN: Appoints Tenon Recovery Liquidator
-----------------------------------------------
At an Extraordinary General Meeting of the Members of The Kitchen
Cash & Carry Limited, duly convened, and held at Lyndean House,
43-46 Queens Road, Brighton BN1 3XB, 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 I
Cadlock and A J Pear, be and are hereby appointed Liquidators for
the purposes of such winding-up."

At the statutory Meeting of Creditors, duly convened, and
subsequently held on 29 July 2005, the following Resolutions were
duly confirmed:

"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 I
Cadlock and A J Pear be and are hereby appointed Liquidators for
the purposes of such winding-up."

R Shepherd, Director

CONTACT:  TENON RECOVERY
          Lyndean House, 43-46 Queens Road,
          Brighton, East Sussex BN1 3XB
          Phone: 01273 725566
          Fax: 01273 724502
          Web site: http://www.tenongroup.com


THEMOTORTRADE.COM LIMITED: In Liquidation
-----------------------------------------
At an Extraordinary General Meeting of the Members of
Themotortrade.Com Limited, duly convened, and held at 14 Wood
Street, Bolton BL1 1DZ, 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 Anthony Jackson be and he is hereby appointed Liquidator
for the purposes of such winding-up."

S Roby, Director


THYME & SPACE: Restaurant Liquidates
------------------------------------
At an Extraordinary General Meeting of the Members of Thyme &
Space Limited (t/a Thyme), duly convened, and held at 4
Shakespeare Road, London N3 1XE, 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
Stewart Trevor Bennett, of Berg Kaprow Lewis LLP, 35 Ballards
Lane, London N3 1XW, be and he is hereby appointed Liquidator of
the Company for the purpose of the voluntary winding-up."

A Oates, Chairman

CONTACT:  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


TRACKCOM LIMITED: Members Opt for Liquidation
---------------------------------------------
At an Extraordinary General Meeting of the Members of Trackcom
Limited (t/a Infotrack), duly convened, and held at Holiday Inn
Milton Keynes, 500 Saxon Gate, West Central, Milton Keynes MK9
2HQ, 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
Philip Simons, be and he is hereby appointed Liquidator for the
purposes of such winding-up."

G Ellaway, Director

CONTACT:  LANGLEY & PARTNERS
          Langley House
          Park Road
          East Finchley
          London N2 8EX
          Phone: 020 8444 2000
          Fax: 020 8444 3400
          E-mail: philip.simons@langleypartners.co.uk


TRIKKE UK: Appoints Findlay James Administrator
-----------------------------------------------
Name: TRIKKE UK LIMITED
      (Company No 04765965)

Nature of Business: Retailer

Registered Office of Company: Findlay James, Saxon House, Saxon
Way, Cheltenham, Gloucestershire GL52 6QX

Trade Classification: 5248

Date of Appointment: July 28, 2005

Administrator's Name and Address: Alisdair J. Findlay (IP No
001226), Findlay James, Saxon House, Saxon Way, Cheltenham,
Gloucestershire GL52 6QX

CONTACT:  FINDLAY JAMES
          Saxon House
          Saxon Way
          Cheltenham
          Gloucestershire GL52 6QX
          Phone: 01242 576555
          Fax: 01242 576999
          E-mail: ajf@finjam.com


TUNE INN LIMITED: EGM Passes Winding-up Resolutions
---------------------------------------------------
At an Extraordinary General Meeting of the Members of Tune Inn
Limited, duly convened, and held at the offices of David Horner &
Co, 11 Clifton Moor Business Village, James Nicolson Link,
Clifton Moor, York YO30 4XG, 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, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Anthony Horner, of David Horner & Co, 11 Clifton Moor
Business Village, James Nicolson Link, Clifton Moor, York YO30
4XG, be and he is hereby appointed Liquidator

CONTACT:  DAVID HORNER & CO.
          11 Clifton Moor Business Village
          James Nicolson Link,
          York YO30 4XG
          Phone: 01904 479801
          Web site: http://www.davidhornerandco.co.uk


UK BLACK: Files for Liquidation
-------------------------------
At an Extraordinary General Meeting of the Members of UK Black
Links Limited, duly convened, and held at Trafalgar House,
Grenville Place, Mill Hill, London NW7 3SA, on 2 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."

D P Wilson, 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


VIDEO-C LIMITED: Names Begbies Traynor Liquidator
-------------------------------------------------
At an Extraordinary General Meeting of the Members of Video-C
Limited, duly convened, and held at Chiltern House, 24-30 King
Street, Watford WD18 0BP, 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
Paul Michael Davis and Andrew Richard Segal, of Begbies Traynor
(South) LLP, 32 Cornhill, London EC3V 3BT, be and hereby are
appointed Joint Liquidators of the Company for the purpose of the
voluntary winding-up and any act required or authorized under any
enactment to be done may be done by any one or more persons
holding the office of Liquidator from time to time."

T N Horrox, 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


WHITE SHADOW: Calls in Administrator from Pridie Brewster
---------------------------------------------------------
Name: WHITE SHADOW SERVICES LIMITED
      (Company No 02565420)

Nature of Business: Retail Sale of Automotive Fuel

Trade Classification: 5050

Date of Appointment: July 27, 2005

Administrator's Name and Address: Hasan Mirza (IP No 1308),
Pridie Brewster, 4th Floor, St Andrew's House, 18-20 St Andrew
Street, London EC4A 3AJ

CONTACT:  WHITE SHADOW SERVICES LTD
          2 Gloucester Road,
          Stonehouse,
          Gloucestershire GL10 2PB
          Phone: 01453-791260

          PRIDIE BREWSTER
          Carolyn House
          29-31 Greville Street
          London EC1N 8RB
          Phone: 020 7831 8821
          Fax: 020 7404 3069
          E-mail: hmirza@london.pridie-brewster.com


WOK 45 LTD.: Winding-up Gets Court Approval
-------------------------------------------
Company Name: WOK 45 LTD.
              8 Lonsdal Gardens, Tunbridge Wells,
              Kent, TN1 1NU

Registration Number: 04468900

Court: Bristol District Registry

Date of Filing Petition: June 2, 2005

No. of Matter: 2265 of 2005

Date of Winding-up Order: July 20, 2005

CONTACT:  Official Receiver
          Ground Floor, Victory House,
          Quayside, Chatham Maritime,
          Kent, ME4 4QU
          Phone: 01634 895700
          Fax: 01634 895711


WOODSMITHS LIMITED: Members Decide to Wind up Firm
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Woodsmiths
Limited, duly convened, and held at Trafalgar House, Grenville
Place, Mill Hill, London NW7 3SA, 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
Filippa Connor, of B & C Associates, Trafalgar House, Grenville
Place, Mill Hill, London NW7 3SA, is hereby appointed Liquidator
for the purposes of such winding-up."

I M Smith, 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


WOOLWORTHS GROUP: Asbestos Investigation Looms
----------------------------------------------
Woolworths Group plc may face an inquiry following claims that
workers and customers have been exposed to asbestos dust in its
stores.

Mail on Sunday reported that the hazard was discovered as the
chain replaced asbestos-made ceiling tiles as part of its
renovation.

Local authorities in Tiverton and Bideford are reportedly
considering initiating a court case over working practices
against Woolworths.  A decision is expected within days.

Meanwhile, Woolworths refused to comment although it admitted it
was aware of the matter.

It said: "The health and safety of our staff and customers is of
paramount importance to Woolworths.

"We are fully aware of the situation with regard to Devon County
Council and are working with the authorities and our supplier to
resolve the matter."

CONTACT:  WOOLWORTHS GROUP PLC
          Woolworth House, 242-246 Marylebone Rd.
          London
          NW1 6JL, United Kingdom
          Phone: +44-20-7262-1222
          Fax: +44-20-7706-5416
          Web site: http://www.woolworthsgroupplc.com

          TULCHAN GROUP
          Kate Inverarity
          Phone: 020 7353 4200
          Celia Gordon-Shute
          Phone: 020 7353 4200


W.R. WOOLLEY: In Administrative Receivership
--------------------------------------------
Name: W.R. WOOLLEY & CO LTD.
      (Reg No 03969538)

Nature of Business: Window Manufacturer

Trade Classification: 3663 Other Manufacturing

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

Name of Person Appointing the Joint Administrative Receivers:
Close Invoice Finance Ltd.

Joint Administrative Receivers: John Arthur Kirkpatrick and Peter
Bridger (Office Holder Nos 002230 and 009876), both of Bridgers,
6C Church Street, Reading RG1 2SB

                            *   *   *

W.R WOOLLEY & COMPANY is based in Nuneaton, Warwickshire.  For
over 30 years, the company offers a full range of quality
products, which include, Georgian Bends, Leads, Stained Leads,
Georgian Grilles and Bevels.  Visit
http://www.wrwoolleyglass.co.uk/for more information.

CONTACT:  W.R. WOOLLEY & CO LTD.
          Unit 1, Oaston Road,
          Nuneaton, Warwickshire CV11 6JX
          Phone: 024 7632 6087/7638 5959
          Fax: 024 7664 1716
          E-mail: sales@wrwoolleyglass.co.uk

          BRIDGERS
          6C Church Street,
          Reading, Berkshire RG1 2SB
          Phone: 0118 9512131
          Fax: 0118 9512161
          E-mail: john.kirkpatrick@bridgers.co.uk


                            *********


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.

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