/raid1/www/Hosts/bankrupt/TCREUR_Public/050819.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
E U R O P E
Friday, August 19, 2005, Vol. 6, No. 164
Headlines
A U S T R I A
AUSTRIAN AIRLINES: Reports 16.2% Growth in Passenger Volume
F R A N C E
ALSTOM SA: Power Unit Sells Condenser Business
G E R M A N Y
ABGS AUSBAUGEMEINSCHAFT: Court to Verify Claims December
ATHLETIKVEREIN GERMANIA: Under Bankruptcy Administration
BETO GESELLSCHAFT: Creditors Meeting Set Next Month
CINEMATIK ENTERTAINMENT: Appoints Tiefenbacher Administrator
DAIMLERCHRYSLER AG: BaFin Finds 'Grounds' for Illegal Trades
HAIFIN GMBH: Proofs of Claim Due October
ISMT GMBH: Court Appoints Interim Administrator
MUENZER & CO.: Sets Creditors Meeting September
SOPP GMBH: Applies for Bankruptcy Proceedings
STRAJHAR PROZESSLEITTECHNIK: Creditors' Claims Due September
VEGALAND GMBH: Gives Creditors Until September 20 to File Claims
I R E L A N D
ICELAND FOODS: To Shut Down Eight Loss-making Stores
I T A L Y
PARMALAT U.S.A.: Preliminary Injunction Hearing Moved to Oct. 18
N E T H E R L A N D S
ROYAL SHELL: Buys Further 1,900,000 'A' Shares for Cancellation
ROYAL SHELL: Buys Minority Stake in CHOREN Industries
VERSATEL TELECOM: Tele2 Pursues Offer
R U S S I A
AKSAYSKIY: Insolvency Manager Takes over Company
ALT-MOTORS: Bankruptcy Proceedings Begin
EVSEYSKIY MILL: Under Bankruptcy Supervision
GAS-PROM-GEO-COM-SERVICE: Insolvency Manager Enters Firm
KARAGAYSKOYE: Appoints S. Ryabov Insolvency Manager
METROMEDIA INTERNATIONAL: Delays Filing of Quarterly Report
OREKHOVO-ZUEVSKAYA: Declared Insolvent
PLANTA: Succumbs to Bankruptcy
RASSVET-INVEST: Bankruptcy Proceedings Begin
REMONTNIK: Bankruptcy Hearing Resumes Next Month
ROSTOV-NADEZHDA: Deadline for Proofs of Claim September 16
YUKOS OIL: Appellate Court Resets Review Next Month
S W E D E N
SAS GROUP: First-half Results Still in Red
U K R A I N E
A.K.S. Undergoes Bankruptcy Supervision Procedure
DNIPRO: Proofs of Claim Deadline August 22
HIM-TEPLO: Under Bankruptcy Supervision
IVA-GALICH: Declared Insolvent
KRIVBAS-ASFALT: Creditors' Claims Due Next Week
POLIMER: Insolvency Manager Takes over Helm
SERP & MOLOT: Succumbs to Bankruptcy
STAL: Gives Creditors Until Next Week to File Claims
TROSTYANETSBUD: Bankruptcy Supervision Begins
UKRSPETSPRODUCT: Court Appoints Liquidator
U N I T E D K I N G D O M
ACTION TRAVEL: Files for Liquidation
AIRSOFT LTD.: Court Issues Winding-up Order
ANOTHER PUB: Files for Liquidation
APAC DESIGN: Creditors Meeting Set Next Week
ASHTEAD GROUP: Awards 58 Senior Executives Share Options
ATLANTIC ENERGY: Court Orders Liquidation
BAR BLUU: Opts for Liquidation
BARREL FOODS: Hires Administrators from P&A Partnership
BHACHU CONSTRUCTION: Calls in Liquidator
BISWELL & LEGGATE: Collapses into Liquidation
BULLS INDUSTRIAL: Hires Sanderlings to Liquidate Assets
CABLE & WIRELESS: Unit Sells Stake in Singaporean Firm
CAPITAL INDEX: Calls in Liquidator
CASTLE OAK: Falls into Liquidation
CHEER STORE: EGM Passes Winding-up Resolution
CLARITY FINANCIAL: Members Decide to Wind up Company
CLEAR LIMITED: Creditors Meeting Set Next Week
CLYDESDALE BANK: Closing Branches in Aberdeen, Aberdeenshire
CLYDESDALE BANK: Amicus Condemns Branch Closures
COGGERS LIMITED: Calls in Joint Liquidators
COLLINS & AIKMAN: Kroll Seeks Bids for European Businesses
COMMPETE LIMITED: Creditors Meeting Today
COMPLETEFOODS LTD.: Court Issues Liquidation Order
CORANMOOR LIMITED: Collapses into Liquidation
COSTAIN GROUP: IFRS Shift to Affect Spanish Joint Venture
COSTAIN GROUP: Wins GBP6 Million 21-month Contract
COTTINGLEY PINE: Files for Liquidation
CRADLECRAFT ENGINEERING: Appoints Tenon Recovery Administrator
CYGNET WOOLS: Court Sanctions Liquidation
DANCEMODE LIMITED: Calls in Liquidator
DELTA FOODS: Wholesaler Calls in Administrator
E.D.S. TRANSPORT: Owners Decide to Wind up Business
ELIZABETH CLAIRE: In Liquidation
ESTRON SIGNATURE: Applies for Winding-up Order
FAR COTTON: Members Resolve to Liquidate Firm
FRAMLINGTON SECOND: Investment Firm Winds up
FTP02 LTD: Opts for Liquidation
GASTROHOPES LIMITED: Appoints Liquidator
GATE GOURMET: Bankruptcy Looms as Creditors, Staff Grow Restive
GODDARD WORKWEAR: Calls in Liquidator
GOLDLINK INTERNATIONAL: In Liquidation
GREEN GAS: Winding-up Receives Green Light
HELLFIRE LEISURE: Court Sanctions Liquidation
HIT ENTERTAINMENT: Proposed Second-Lien Loan Rated 'CCC+'
HOME BEST: Winding-up Petition Gets Court Approval
INTERNATIONAL FINANCIAL: Files for Liquidation
KINLOCH DAMPH: Administrator Wants Term Extended
KUSHTI LIMITED: Administrator from Kallis & Co. Moves in
LINTON NO. 1: Names KPMG Liquidator
MG ROVER: Accounting Watchdog to Look into Deloitte's Work
PRIESTS OF CHESHAM: Hires Administrators from Portland Business
STURT NO. 1: Passes Winding-up Resolutions
TUNNEL SERVICES: Appoints Joint Liquidators
URANIA SECURITIES: Creditors to Meet Next Week
*********
=============
A U S T R I A
=============
AUSTRIAN AIRLINES: Reports 16.2% Growth in Passenger Volume
-----------------------------------------------------------
At 10.9 %, the traffic result -- measured in revenue passenger
kilometers on scheduled services (RPK) -- was significantly above
the figure for the previous year, while available seat kilometers
increased by 6.3%. When charter and holiday flights are also
taken into consideration, the balance of revenue passenger
kilometers actually rose by as much as 15.9%. With 1,147,944
passengers carried, the Austrian Airlines Group recorded strong
growth in passenger volume of 16.2% in July compared to the same
period in 2004. The load factor on scheduled services increased
by 3.4 percentage points compared to the previous year, reaching
an all-time high of 80.9%.
In the first seven months of 2005, the Austrian Airlines Group
achieved a traffic result which -- when measured in revenue
passenger kilometers on scheduled services (RPK) -- resulted in
an increase of 3.8% compared to the figure for the same period
the previous year. Available seat kilometers (ASK) expanded by
4.5% in the period January to July 2005 compared to the same
period last year. Taken cumulatively, the passenger load factor
on scheduled services of 71.7% is still slightly below (0.5
percentage points) the figure for last year. Overall, the
Austrian Airlines Group carried 5,645,761 passengers on scheduled
and charter flights in the period under review, some 4.4% more
than in the same period in 2004.
Vagn Soerensen, Chief Executive Officer of the Board of
Management of Austrian Airlines, made the following comment on
the company's traffic trend in the first seven months of this
year: "I am pleased to be able to report that the group-wide
improvement measures that we began to intensify back in the first
quarter of 2005 have been reflected in significantly improved
traffic results since May. In July, we were able to report a
rise in passenger volume of more than 16% and break through the
80% mark to achieve an all-time high scheduled load factor.
"The detailed results of our individual traffic regions -- Focus
East (Central, Eastern and South-Eastern Europe) with an increase
of 12.2% in passenger volume on scheduled services compared to
the previous year and a remarkable rise of 45.2% compared to July
2003, the Middle East with a rise on the same month last year of
37.6% and a very respectable 85.4% compared to 2003, and the
long-range sector with a 10.6% rise on last year and 49.2%
compared to 2003 -- only serve to confirm our consistent strategy
of specialization!"
View traffic statistics in detail at
http://bankrupt.com/misc/AustrianAirline_TrafficStat(H1).htm
CONTACT: AUSTRIAN AIRLINES AG
Fontanastrasse 1
A-1107 Wien
Phone: +43 (0) 5 1766
Fax: +43 (0) 1 688 55 05
E-mail: johannes.davoras@aua.com
Web site: http://www.aua.com
Investor Relations
Dr. Prisca Havranek-Kosicek
Phone: 051766 - 3642
Johannes Davoras
Johann Jurceka
Phone: 051766-1231
===========
F R A N C E
===========
ALSTOM SA: Power Unit Sells Condenser Business
----------------------------------------------
Alstom Power, the U.S. unit of engineering giant Alstom S.A. has
sold its condenser business to Yuba Heat Transfer LLC for an
undisclosed amount, The Express-Times says.
Yuba president Bill Farris revealed it transferred manufacturing
from Alstom's Easton site to its Tulsa headquarters. Mr. Farris
said it would retain around 30 to 40 employees to handle sales,
engineering and administrative functions.
According to Mr. Farris, retained employees will remain at the
facility until Yuba can find a new office. He added Yuba plans
to remain in the Easton area, where several utilities firms and
engineering companies are operating. Mr. Farris said two of
Alstom's products "line up strategically well for Yuba." Both
groups manufacture products for the utilities and engineering
sector: Yuba makes large heat transfer equipment and Alstom makes
condensers.
Mr. Farris said, "We are mirror images, other than we make feed
water heat transfers, and they make condensers."
Alstom spokesman Bruce Moffat around 60 employees will be
affected by the sale, while 20 to 30 personnel will remain during
the transition. Alstom closed the site in May after sustaining
"substantial" damage from two floods.
CONTACT: ALSTOM S.A.
25 Avenue Kleber
75795 Paris Cedex 16
Phone: +33-1-47-55-20-00
Fax: +33-1-47-55-25-99
Web site: http://www.alstom.com
YUBA HEAT TRANSFER LLC
2121 North 161st East Avenue
Tulsa Oklahoma 74116
Phone: 918 234 6000
Fax: 918 234 3345
Web site: http://www.yuba.com
=============
G E R M A N Y
=============
ABGS AUSBAUGEMEINSCHAFT: Court to Verify Claims December
--------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against ABGS Ausbaugemeinschaft GmbH
Berlin-Brandenburg on July 22. Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 21, 2005 to register their claims
with court-appointed provisional administrator Dr. Bjorn Gehde.
Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 10:40 a.m. at the district
court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II.
Stock Saal 218, at which time the administrator will present his
first report of the insolvency proceedings. The court will also
verify the claims set out in the administrator's report on
December 12, 2005, 10:35 a.m. at the same venue.
CONTACT: ABGS AUSBAUGEMEINSCHAFT GmbH BERLIN-BRANDENBURG
Honower Str. 118, 12623 Berlin
Dr. Bjorn Gehde, Administrator
Goethestr. 85, 10623 Berlin
ATHLETIKVEREIN GERMANIA: Under Bankruptcy Administration
--------------------------------------------------------
The district court of Chemnitz opened bankruptcy proceedings
against Athletikverein Germania 1896 Markneukirchen e.V. on July
26. Consequently, all pending proceedings against the company
have been automatically stayed. Creditors have until September
8, 2005 to register their claims with court-appointed provisional
administrator Andreas Schenk.
Creditors and other interested parties are encouraged to attend
the meeting on October 20, 2005, 9:00 a.m. at the district court
of Chemnitz, Saal 28, im Gerichtsgebaude, Fuerstenstrasse 21, in
Chemnitz, at which time the administrator will present his first
report of the insolvency proceedings. The court will also verify
the claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee and
or opt to appoint a new insolvency manager.
CONTACT: ATHLETIKVEREIN GERMANIA 1896 MARKNEUKIRCHEN e.V.
Harald Sandner and Jens Zeidler
Ringerhalle am Schuetzenhaus, 08254 Markneukirchen
Andreas Schenk, Administrator
Franz-Mehring-Str. 15, 08058 Zwickau
BETO GESELLSCHAFT: Creditors Meeting Set Next Month
---------------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against BETO Gesellschaft fuer Cryo, Anlagen und Systemlosungen
mbH on July 29. Consequently, all pending proceedings against
the company have been automatically stayed. Creditors have until
September 19, 2005 to register their claims with court-appointed
provisional administrator Dr. Jorg Bornheimer.
Creditors and other interested parties are encouraged to attend
the meeting on September 22, 2005, 9:05 a.m. at the district
court of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2.
Etage, Saal 234, 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, 9:00 a.m. at the same venue.
CONTACT: BETO GESELLSCHAFT FUER CRYO, ANLAGEN
UND SYSTEMLOSUNGEN mbH
Bruch 4, 42279 Wuppertal
Contact:
Rainer Bergant, Manager
Dr. Jorg Bornheimer, Administrator
Turmhof 15, 42103 Wuppertal
Phone: 0202/49 37 00
Fax: 0202/45 13 66
CINEMATIK ENTERTAINMENT: Appoints Tiefenbacher Administrator
------------------------------------------------------------
The district court of Dresden opened bankruptcy proceedings
against Cinematik Entertainment und Logistik GmbH on July 20.
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 Frank Ruediger Scheffler.
Creditors and other interested parties are encouraged to attend
the meeting on October 12, 2005, 10:00 a.m. at the district court
of Dresden, Saal D132, Amtsgericht Dresden, 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: CINEMATIK ENTERTAINMENT UND LOGISTIK GmbH
Dresdner Str. 161 in 01705 Freital
Frank Ruediger Scheffler, Administrator
C.-D.-Friedrich-Str. 6, 01219 Dresden
Web site: http://www.tiefenbacher.de
DAIMLERCHRYSLER AG: BaFin Finds 'Grounds' for Illegal Trades
------------------------------------------------------------
German regulators have opened a formal investigation into
possible insider trading at DaimlerChrysler AG, said the
Associated Press.
Financial services regulator BaFin has reportedly found "grounds"
to suspect illegal dealing in the carmaker's stock. On July 28,
shares went up prior to the announcement of former head Juergen
Schrempp's resignation. Spokeswoman Sabine Reimer said the BaFin
probe has discovered traces of "illegal trades." She refused to
name names, however.
"We are asking all financial institutions to show us who bought
or sold shares. Then we'll try to find links to people who knew
of Mr. Schrempp's plans," she said.
DaimlerChrysler spokesman Toni Melfi refused to comment on the
issue. The company has appointed Dieter Zetsche, 52, who led the
recovery of the Chrysler division, to replace Mr. Schrempp. It
has also reportedly started searching for a new chief for its
Mercedes division after its head, Eckhard Cordes, offered to
resign.
CONTACT: DAIMLERCHRYSLER AG
70546 Stuttgart, Germany
Phone: +49 711 17 0
Fax: +49 711 17 22244
Web site: http://www.daimlerchrysler.com
HAIFIN GMBH: Proofs of Claim Due October
----------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Haifin GmbH on July 20. Consequently, all
pending proceedings against the company have been automatically
stayed. Creditors have until October 21, 2005 to register their
claims with court-appointed provisional administrator Peter
Leonhardt.
Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 10:35 a.m. at the district
court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II.
Stock Saal 218, at which time the administrator will present his
first report of the insolvency proceedings. The court will also
verify the claims set out in the administrator's report on
December 14, 2005, 10:30 a.m. at the same venue.
CONTACT: HAIFIN GmbH
Taubertstr. 9, 14193 Berlin
Peter Leonhardt, Administrator
Kurfuerstendamm 212, 10719 Berlin
ISMT GMBH: Court Appoints Interim Administrator
-----------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against ISMT GmbH on August 1. Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until September 9, 2005 to register their claims
with court-appointed provisional administrator Dr. Peter Neu.
Creditors and other interested parties are encouraged to attend
the meeting on September 23, 2005, 9:00 a.m. at the district
court of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2.
Etage, Saal 234, 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: ISMT GmbH
Leverkuser Strasse 65, 42897 Remscheid
Contact:
Gerd Wiedmann, Manager
Eschenweg 6, 73342 Bad Ditzenbach
Dr. Peter Neu, Administrator
Elberfelder Strasse 39, 42853 Remscheid
Phone: 02191/499 18-0
Fax: 02191/499 18-50
Web site: http://www.meiski.de
MUENZER & CO.: Sets Creditors Meeting September
-----------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Muenzer & Co. Baugesellschaft mbH on July 26.
Consequently, all pending proceedings against the company have
been automatically stayed. Creditors have until October 14, 2005
to register their claims with court-appointed provisional
administrator Dr. Bjorn Gehde.
Creditors and other interested parties are encouraged to attend
the meeting on September 12, 2005, 9:00 a.m. at the district
court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II.
Stock Saal 218, at which time the administrator will present his
first report of the insolvency proceedings. The court will also
verify the claims set out in the administrator's report on
December 12, 2005, 9:15 a.m. at the same venue.
CONTACT: MUENZER & CO. BAUGESELLSCHAFT mbH
Kantstr.96,10627 Berlin
Dr. Bjorn Gehde, Administrator
Goethestr. 85, 10623 Berlin
SOPP GMBH: Applies for Bankruptcy Proceedings
---------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against Sopp GmbH on August 1. Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until September 2, 2005 to register their claims
with court-appointed provisional administrator Dr. Jorg Nerlich.
Creditors and other interested parties are encouraged to attend
the meeting on September 26, 2005, 9:40 a.m. at the district
court of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2.
Etage, Saal 234, 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: SOPP GmbH
Dreherstr. 21-23, 42899 Remscheid
Contact:
Sigrid Meyer, Manager
Paul-Dieter Maar, Manager
Dr. Jorg Nerlich, Administrator
Friedrich-Ebert-Str. 17, 42103 Wuppertal
Phone: 0202/40 86 150
Fax: 0202/40 86 159
STRAJHAR PROZESSLEITTECHNIK: Creditors' Claims Due September
------------------------------------------------------------
The district court of Duesseldorf opened bankruptcy proceedings
against STRAJHAR PROZESSLEITTECHNIK GmbH on August 1.
Consequently, all pending proceedings against the company have
been automatically stayed. Creditors have until September 2,
2005 to register their claims with court-appointed provisional
administrator Dr. Jorg Nerlich.
Creditors and other interested parties are encouraged to attend
the meeting on September 23, 2005, 9:00 a.m. at the district
court of Duesseldorf, Hauptstelle, Muehlenstrasse 34, 40213
Duesseldorf, 3. OG Altbau, A 341, 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: STRAJHAR PROZESSLEITTECHNIK GmbH
Kieler Str. 2, 41540 Dormagen
Contact:
Hans-Juergen Strajhar, Manager
Arenbergstrasse 38, 45701 Herten
Dr. Jorg Nerlich, Administrator
Louise-Dumont-Str. 25, 40211 Duesseldorf
VEGALAND GMBH: Gives Creditors Until September 20 to File Claims
----------------------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Vegaland GmbH on July 22. Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until September 20, 2005 to register their claims
with court-appointed provisional administrator Peter Mischer.
Creditors and other interested parties are encouraged to attend
the meeting on October 20, 2005, 9:15 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: VEGALAND GmbH
Brookdeich 54, 21029 Hamburg
Contact:
Peter Mischer, Manager
Veit Schwierholz, Administrator
Heuberg 1, 20354 Hamburg
Phone: 040/350169-0
Fax: 35016915
=============
I R E L A N D
=============
ICELAND FOODS: To Shut Down Eight Loss-making Stores
----------------------------------------------------
Iceland Foods Ltd. is to close by this week all eight of its
stores in Ireland, leaving 160 jobless. The move came as the
food retailer admitted it could no longer sustain losses at its
operations in the country. It also does not see the outlets
bringing in profits in the future.
As reported by Business World, the company said: "Our operation
in the Republic of Ireland is losing money and we can see no
prospect of that changing. We cannot afford to sustain those
losses any longer and have reluctantly decided we have no
alternative other than to cease trading."
"We have spent six months looking at it and have come to the
conclusion that it is not possible for us to turn this around," a
spokeswoman for the company told BreakingNews in another report.
Workers, who were reportedly informed of the decision Wednesday
night, can only hope for a buyer to save them from redundancy.
U.K.'s fifth-largest food retailer Baugur acquired Iceland in
February. It has already declared a quarter of the company's
British workforce redundant.
Iceland stores in Ireland are located in Finglas, Ballyfermot,
Dun Laoghaire, Raheny, Talbot Street, Thomas Street and the Navan
Road in Dublin, and Letterkenny in Donegal.
CONTACT: ICELAND FOODS LTD
Second Avenue
Deeside Industrial Park
Deeside
Flintshire
London CH5 2NW
Phone: (+44) 01244 830100
Fax: (+44) 01244 814531
Web site: http://www.iceland.co.uk
=========
I T A L Y
=========
PARMALAT U.S.A.: Preliminary Injunction Hearing Moved to Oct. 18
----------------------------------------------------------------
Judge Drain of the U.S. Bankruptcy Court for the Southern
District of New York adjourns the consideration of the
Application filed by Gordon I. MacRae and James Cleaver -- as
Joint Provisional Liquidators of Parmalat Capital Finance
Limited, Dairy Holdings Limited, and Food Holdings Limited -- for
preliminary injunction to October 18, 2005, at 10:00 a.m.
In the interim, Judge Drain enjoins and restrains all persons
subject to the jurisdiction of the U.S. Court from commencing or
continuing any action to collect a prepetition debt against the
Finance Companies without obtaining relief from the Court.
Parmalat Finanziaria S.p.A.'s time to answer the Petitions
commencing these ancillary proceedings is extended until
November 15, 2005.
Any objections to the further continuation of the Preliminary
Injunction must be in writing, filed with the U.S. Bankruptcy
Court for the Southern District of New York, and served by
October 13, 2005, at 12:00 p.m.
Headquartered in Wallington, New Jersey, Parmalat USA
Corporation -- http://www.parmalatusa.com/-- generates more than
EUR7 billion in annual revenue. The Parmalat Group's 40-some
brand product line includes milk, yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices and employs over 36,000 workers in 139 plants
located in 31 countries on six continents. The Company filed for
chapter 11 protection on February 24, 2004 (Bankr. S.D.N.Y. Case
No. 04-11139). Gary Holtzer, Esq., and Marcia L. Goldstein,
Esq., at Weil Gotshal & Manges LLP, represent the Debtors. When
the U.S. Debtors filed for bankruptcy protection, they reported
more than $200 million in assets and debt. The U.S. Debtors
emerged from bankruptcy on April 13, 2005. (Parmalat Bankruptcy
News, Issue No. 60; Bankruptcy Creditors' Service, Inc.,
215/945-7000)
CONTACT: PARMALAT FINANZIARIA
Sede legale: 43044 Collecchio (Pr)
- Via Oreste Grassi, 26
Codice fiscale e iscrizione nel Registro delle Imprese
di Parma 00175250471 - Partita I.V.A. 01938950340 -
R.E.A. Parma n. 188325 - U.I.C. n. 730
Sede amministrativa: 20122 Milano
Piazza Erculea, 9
Phone: (39) 02.8068801
Fax: (39) 02.8693863
E-mail: x_affari_societari_it@parmalat.net
=====================
N E T H E R L A N D S
=====================
ROYAL SHELL: Buys Further 1,900,000 'A' Shares for Cancellation
---------------------------------------------------------------
On 16 August 2005, Royal Dutch Shell plc has purchased for
cancellation 1,900,000 'A' Shares at a price of EUR26.87 per
share.
Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,069,597,250.
As of that date, 2,759,360,000 'B' Shares of Royal Dutch Shell
plc were in issue.
* * *
On 15 August 2005, Royal Dutch Shell plc purchased for
cancellation 1,000,000 'A' Shares at a price of EUR27.14 per
share. This came after the company purchased for cancellation
1,000,000 'A' Shares at a price of EUR26.89 per share on August
10. A day after that, Shell also purchased for cancellation
1,800,000 'A' Shares at a price of EUR27.24 per share. On August
12, it purchased for cancellation 1,400,000 'A' Shares at a price
of EUR27.086 per share.
Shell's buyback scheme is understood to be aimed at reviving
shareholders' and investors' confidence. The buyback program
follows 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
ROYAL SHELL: Buys Minority Stake in CHOREN Industries
-----------------------------------------------------
Shell Deutschland Oil GmbH has acquired a minority equity stake
in CHOREN Industries GmbH, Freiberg/Saxony. Shell's commitment
sets the stage for construction of the world's first commercial
facility to convert biomass into high-quality synthetic bio-fuel,
already marketed by CHOREN as SunFuel.
A 15,000 t/a plant is planned for the production of SunFuel.
SunFuel is supported by carmakers such as Volkswagen and
DaimlerChrysler because it can be used without modification in
any diesel engine without compromising performance and with a
substantial reduction in harmful emissions. Shell's stake in
CHOREN is still subject to approval by the German cartel
authorities.
CHOREN Industries has developed its patented Carbo-V (R)
Biomass-gasification process to become a leader in the field of
converting biomass -- such as woodchips -- into ultra clean
tar-free synthetic gas. This "syngas" can then be converted into
synthetic bio-fuels using the same Shell Middle Distillate
Synthesis (SMDS) technology that Shell has developed for Gas to
Liquids production (conversion of natural gas into synthetic oil
products). Shell is a leader in Gas to Liquids (GTL) technology
with unparalleled operating experience in the first commercial
GTL plant of its type at Bintulu Malaysia. The synthetic GTL
Fuel produced is an important component of Shell's market leading
V-Power Diesel that is exclusively sold at Shell Retail stations
in several markets including Germany.
Rob Routs, Executive Director Downstream, from Shell: "We believe
that the leadership combination of both companies' experience and
complementary technologies will enable the construction and
operation of the first medium-sized 'Biomass to Liquids' (BTL)
plant. This plant will be located at CHOREN's premises in
Freiberg and will pave the way towards more attractive
large-scale plants."
The synthetic fuels made from biomass have identical composition
to synthetic products derived from natural gas, yet they have the
advantage of being sustainable and environmentally friendly
because they are based on renewable feedstocks. BTL Fuel is as
clear as water and virtually free of sulphur and aromatic
substances.
BTL Fuel's ignition qualities (as measured by a very high cetane
number) are excellent, thereby reducing noise and resulting in
cleaner combustion than with conventional diesel. Greenhouse gas
emissions from BTL Fuel are less than 10 per cent of those from
fossil fuels. Moreover, BTL Fuel can either be used as a pure
product or in a blend with conventional diesel fuel. Initially
it will only be available in limited volumes until the technology
progresses and larger plants can be built.
Tom Blades, CEO, CHOREN Industries said: "We are particularly
pleased to have won over a partner with Shell's FT (Fischer
Tropsch) knowledge and clean fuel experience. It affirms our
vision for the realization of large-scale production of biomass
derived synthetic transport fuels that meet the needs of today's
and tomorrow's mobile society but without further burdening the
environment."
Rob Routs added: "In the next two to three decades, liquid fuels
will continue to dominate the market. Climate protection
measures will mean that the share accounted for by biofuels is
set to increase. We want to proactively participate in this
shift as part of our commitment to the concept of sustainable
mobility and maintain our leadership in formulating advanced
fuels."
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
VERSATEL TELECOM: Tele2 Pursues Offer
-------------------------------------
Tele2 AB, through its unit Tele2 Netherlands B.V., is pursuing
its bid for Versatel Telecom International N.V., AFX News said.
A formal offer from Tele2 AB is expected to be formalized by
September. The two companies revealed in a joint statement that
preparations for the offer are "well underway."
Tele2's EUR1.43 billion bid, announced last month, only awaits
the outcome of the consultation with competition authorities and
Versatel's works council. It is also subject to an acceptance
threshold of 95% of shares and 85% of convertible notes.
The proposed takeover has already the support of Versatel's
management and its biggest shareholder, Talpa, which controls
about 42% of Versatel. However, it faces opposition by the
"TeleNo" group, which claims to be supported by holders of up to
8.5% of Versatel shares.
Tele2 is a leading alternative telecom operator, providing cheap
and simple telecoms for all Europeans. It has 29.4 million
customers in 25 countries, pitted against former government
monopolies. It was founded in 1993 by Jan Stenbeck and has been
listed on Stockholmborsen since 1996. In 2004, Tele2 had
operating revenue of SEK43 billion and EBITDA of SEK6.6 billion.
CONTACT: VERSATEL TELECOM INTERNATIONAL N.V.
Wouter van de Putte, Head of Investor Relations
Phone: +31-20-750-2362
E-mail: wouter.vandeputte@versatel.com
Web site: http://www.versatel.com
Cilesta van Doorn
Manager Corporate Communications
Phone: +31-20-750-1318
E-mail: cilesta.vandoorn@versatel.com
===========
R U S S I A
===========
AKSAYSKIY: Insolvency Manager Takes over Company
------------------------------------------------
The Arbitration Court of Rostov region has commenced bankruptcy
supervision procedure on open joint stock company Aksayskiy
Tinned Food Factory (TIN 6102003650). The case is docketed as
A53-7851/05-S2-7. Mr. M. Bendikov has been appointed temporary
insolvency manager. A hearing will take place on Oct. 31, 2005,
2:00 p.m.
CONTACT: AKSAYSKIY TINNED FOOD FACTORY
Russia, Rostov region, Aksay,
Naberezhnaya Str. 197
Mr. M. Bendikov
Insolvency Manager
Russia, Rostov region, Aksay,
Naberezhnaya Str. 197
ALT-MOTORS: Bankruptcy Proceedings Begin
----------------------------------------
The Arbitration Court of Altay region commenced bankruptcy
proceedings against ALT-MOTORS after finding the limited
liability company insolvent. The case is docketed as
A03-4582/05-B. Mr. M. Suetin has been appointed insolvency
manager.
CONTACT: ALT-MOTORS
658044, Russia, Altay region, Pervomayskiy region,
Borovikha, Zavodskaya Str. 1
Mr. M. Suetin
Insolvency Manager
656049, Russia, Barnaul,
Anatoliya Str. 150
EVSEYSKIY MILL: Under Bankruptcy Supervision
--------------------------------------------
The Arbitration Court of Novosibirsk region has commenced
bankruptcy supervision procedure on close joint stock company
Evseyskiy Mill Combine. The case is docketed as
A45-10285/05-29/120. Mr. S. Lebedev has been appointed temporary
insolvency manager.
Creditors may submit their proofs of claim to 633220, Russia,
Novosibirsk region, Evsino, Chapaeva Str. 24. A hearing will
take place on Nov. 9, 2005, 11:00 a.m. at the Arbitration Court
of Novosibirsk region at Novosibirsk region, Kirova Str. 3, Room
916.
CONTACT: EVSEYSKIY MILL COMBINE
633220, Russia, Novosibirsk region,
Evsino, Chapaeva Str. 24
Mr. S. Lebedev
Temporary Insolvency Manager
633220, Russia, Novosibirsk region,
Evsino, Chapaeva Str. 24
GAS-PROM-GEO-COM-SERVICE: Insolvency Manager Enters Firm
--------------------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Gas-Prom-Geo-Com-Service after finding the
close joint stock company insolvent. The case is docketed as
A40-59845/04-95-50B. Mr. L. Vlasov has been appointed insolvency
manager. Creditors may submit their proofs of claim to 101000,
Russia, Moscow, Pokrovka Str. 2, Building 1&2.
CONTACT: GAS-PROM-GEO-COM-SERVICE
129301, Russia, Moscow region,
B. Galushkina Str. 17, Building 12
Mr. L. Vlasov
Insolvency Manager
101000, Russia, Moscow region,
Pokrovka Str. 2, Building 1&2
KARAGAYSKOYE: Appoints S. Ryabov Insolvency Manager
---------------------------------------------------
The Arbitration Court of Perm region has commenced bankruptcy
supervision procedure on limited liability company Karagayskoye.
The case is docketed as A50-12711/2005-B. Mr. S. Ryabov has been
appointed temporary insolvency manager. A hearing will take
place on Oct. 24, 2005.
CONTACT: KARAGAYSKOYE
617210, Russia,
Perm region, Karagay
Mr. S. Ryabov
Insolvency Manager
618900, Russia, Perm region,
Lysva, Pchelinaya Str. 9
METROMEDIA INTERNATIONAL: Delays Filing of Quarterly Report
-----------------------------------------------------------
Metromedia International Group, Inc. is unable to timely file its
Quarterly Report on Form 10-Q for the fiscal quarter ended June
30, 2005 due to the additional time and effort that has been
required for the Registrant to restate its previously issued
financial statements as of December 31, 2003 and for the years
ended December 31, 2003 and 2002 and the quarters ended March 31,
June 30 and September 30, 2004 and 2003 and prepare and finalize
the Annual Report on Form 10-K for the year ended December 31,
2004 and its Quarterly Report on Form 10-Q for the fiscal quarter
ended March 31, 2005 and for the finance teams of the
Registrant's PeterStar and Magticom business ventures to prepare,
finalize and submit their second quarter U.S. GAAP financial
results to the Registrant's corporate financial team.
As a result of the delay in the filing of the Form 10-K and the
delay in the receipt of the PeterStar and Magticom second quarter
U.S. GAAP financial results, the Registrant's corporate finance
team has not been able to begin the review and analysis of the
PeterStar and Magticom second quarter financial results, and as
such, has not been able to finalize the Registrant's consolidated
financial statements and management's discussion and analysis of
the Registrant's financial condition and results of operations.
The Registrant will file its quarterly report on Form 10-Q as
soon as possible.
CONTACT: METROMEDIA INTERNATIONAL
Charlotte, North Carolina
Web site: http://www.metromedia-group.com
Contact:
Harold F. Pyle, III
Phone: 321-7380
OREKHOVO-ZUEVSKAYA: Declared Insolvent
--------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Orekhovo-Zuevskaya after finding the poultry
farm insolvent. The case is docketed as 41-K2-17490/04. Mr. M.
Vdovin has been appointed insolvency manager. Creditors have
until Sept. 16, 2005 to submit their proofs of claim to Russia,
Moscow region, Sovkhoznaya Str. 16, 1k, Apartment 28.
CONTACT: OREKHOVO-ZUEVSKAYA
Russia, Moscow region,
Orekhovo-Zuevskiy region, Kabanovo
Mr. M. Vdovin
Insolvency Manager
Russia, Moscow region,
Sovkhoznaya Str. 16, 1k, Apartment 28
PLANTA: Succumbs to Bankruptcy
------------------------------
The Arbitration Court of Rostov region commenced bankruptcy
proceedings against Planta (TIN 6164210671) after finding the
agro-technological house insolvent. The case is docketed as
A53-2297/05-S2-30. Mr. V. Zotyev has been appointed insolvency
manager.
Creditors have until Sept. 16, 2005 to submit their proofs of
claim to 344010, Russia, Rostov-na-Donu, Nakhichevanskiy Per.,
64. A hearing will take place on Aug. 23, 2005, 2:00 p.m.
located at Russia, Rostov-na-Donu, Stanislavskogo Str. 8a.
CONTACT: PLANTA
344082, Russia, Rostov-na-Donu,
Soglasiya Per. 7
Mr. V. Zotyev
Insolvency Manager
344010, Russia, Rostov-na-Donu,
Nakhichevanskiy Per. 64, Stanislavskogo Str. 8a
RASSVET-INVEST: Bankruptcy Proceedings Begin
--------------------------------------------
The Arbitration Court of Chelyabinsk region commenced bankruptcy
proceedings against Rassvet-Invest after finding the close joint
stock company insolvent. The case is docketed as
A76-7338/04-52-15. Ms. T. Petrova has been appointed insolvency
manager. Creditors may submit their proofs of claim to 454112,
Russia, Chelyabinsk, Pobedy Pr. 324, Apartment 106.
CONTACT: RASSVET-INVEST
Russia, Chelyabinsk region, Uvelskiy region
Ms. T. Petrova
Insolvency Manager
454112, Russia, Chelyabinsk region,
Pobedy Pr. 324, Apartment 106
REMONTNIK: Bankruptcy Hearing Resumes Next Month
------------------------------------------------
The Arbitration Court of Kemerovo region has commenced bankruptcy
supervision procedure on open joint stock company Remontnik. The
case is docketed as A27-11061/2005-4. Mr. S. Shmidt has been
appointed temporary insolvency manager. A hearing will take
place on Sept. 7, 2005, 2:00 p.m.
CONTACT: REMONTNIK
652050, Russia, Kemerovo region,
Yugra, Lenina Str. 2
Mr. S. Shmidt
Temporary Insolvency Manager
Russia, Kemerovo region,
Kavaleriyskaya Str. 76
ROSTOV-NADEZHDA: Deadline for Proofs of Claim September 16
----------------------------------------------------------
The Arbitration Court of Rostov region commenced bankruptcy
proceedings against Rostov-Nadezhda (TIN 6164096743) after
finding the agricultural company insolvent. The case is docketed
as #A53-19063/04-S2-9. Mr. A. Andreev has been appointed
insolvency manager.
Creditors have until Sept. 16, 2005 to submit their proofs of
claim to Arbitration Court of Rostov region. A hearing will take
place on Nov. 1, 2005, 2:30 p.m.
CONTACT: ROSTOV-NADEZHDA
Russia, Rostov-na-Donu,
Soglasiya Per. 7
Mr. A. Andreev
Insolvency Manager
Russia, Rostov-na-Donu,
Soglasiya Per. 7
YUKOS OIL: Appellate Court Resets Review Next Month
---------------------------------------------------
The Ninth Arbitration Appeals Court has postponed the review of
an appeal by fuel giant Yukos over the controversial auction of
its Yuganskneftegaz unit, Interfax says.
The court reset the hearing to September 8, 2005, after
representatives of some parties involved failed to attend Monday.
Yukos filed a suit with the Moscow arbitration court to
invalidate Yuganskneftegaz's auction in December 2004, which saw
76.79% percent of the production unit fall eventually to the
government's hands.
Yukos is also demanding that defendants Russian Federal Property
Fund, BaikalFinance Group, Rosneft, Gazpromneft, Gazprom and the
Russian Finance Ministry collectively pay RUB324 billion in
damages caused by the sale of Yuganskneftegaz shares. Named
third parties to the suit are the main directorate of the Russian
Justice Ministry for the city of Moscow, Federal Anti-Monopoly
Service and Yuganskneftegaz.
On November 18, 2004, bailiffs announced the auction to cover
Yukos' tax debt, which at the time was over US$20 billion. On
December 19, the RFPF sold a bloc of Yuganskneftegaz shares for
US$9.3 billion to BaikalFinance Group, which was later acquired
by state-owned Rosneft.
CONTACT: OAO NK YUKOS
31A, Dubininskaya St.
115054 Moscow, Russia
Phone: +7-95-232-3161
Fax: +7-95-232-3160
Web site: http://www.yukos.com
International Information Department
Hugo Erikssen
Phone: +7 095 540 6313
E-mail: inter@yukos.ru
Investor Relations Contact
Alexander Gladyshev
Phone: +7095 788 00 33
E-mail: investors@yukos.ru
===========
S W E D E N
===========
SAS GROUP: First-half Results Still in Red
------------------------------------------
Report for the second-quarter of 2005
(a) Operating revenue for the first half amounted to SEK29,033
million (SEK27,710 million), an increase of 4.8%;
(b) Number of passengers in the first half rose by 3.2% to 16.7
million;
(c) Income before depreciation and leasing costs for aircraft
(EBITDAR) improved by SEK700 million and reached SEK2,193
million (SEK1,493 million) in the second quarter and
SEK2,372 million (SEK1,449 million) in the first half;
(d) Operating income (EBIT) increased for the second quarter by
SEK698 million to SEK949 million (SEK251 million) and
amounted to -SEK99 million (-SEK1,006 million) for the first
half of the year;
(e) Income before capital gains and non-recurring items improved
by SEK526 million and amounted to SEK579 million (SEK53
million) in the second quarter. Earnings for the first half
amounted to -SEK733 million (-SEK1,535 million);
(f) Income after financial items for the second quarter was
SEK590 million (SEK44 million), and -SEK700 million (-
SEK1,496 million) for the first half;
(g) Net income for the period amounted to SEK499 million (SEK147
million) in the second quarter and -SEK472 million (-
SEK1,227 million) for the first half;
(h) CFROI for the 12-month period July 2004-June 2005 was 11%
(8%);
(i) Earnings per share for the SAS Group in the first half of
the year amounted to -SEK2.85 (-SEK7.40). Equity per share
was SEK72.28 (SEK72.67);
(j) Total unit cost adjusted for currency effects for
Scandinavian Airlines Businesses decreased by 2.3% in the
first half despite higher fuel prices. Adjusted for
increased fuel prices, the unit cost fell in the same period
by 6.4% and by 5.5% in the second quarter;
(k) Continued uncertainty regarding development in the airline
industry gives reason to be cautious, but subject to
unchanged yield, favorable traffic development and provided
there are no important changes in the business environment
or further significant increases in jet fuel prices, adopted
business plans indicate positive earnings for 2005; and
(l) "Second-quarter earnings were, as anticipated, positive and
in line with the profitability plan for the SAS Group.
Continued unit cost reductions and new commercial ventures are
important factors for success and we are now taking the next step
on European routes," says President and CEO Jorgen Lindegaard.
All reports are available in English and Swedish and can be
ordered from SAS, SE-195 87 Stockholm, telephone +46 8 797 0000,
fax +46 8 797 51 10. The reports can be accessed and ordered via
the Internet at http://www.sasgroup.net
The SAS Group's monthly traffic and capacity statistics are
normally published on the fifth working day of each month. The
company's financial calendar is available at
http://www.sasgroup.net
CONTACT: SAS GROUP
Investor Relations
Sture Stolen
Phone: +46 8 797 14 51
E-mail: investor.relations@sas.se
=============
U K R A I N E
=============
A.K.S. Undergoes Bankruptcy Supervision Procedure
-------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on LLC Scientific-Production Firm A.K.S.
(code EDRPOU 31246599) on May 25, 2005. The case is docketed as
23/415-b. Mr. Oleksandr Snizhko (License Number AA 315460) has
been appointed temporary insolvency manager. The company holds a
ccount number 26003020388701 at JSCB Kyiv region, MFO 322498.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) A.K.S.
03045, Ukraine, Kyiv region,
Hutir Ostriv Str. 13
(b) Mr. Oleksandr Snizhko
Temporary Insolvency Manager
03127, Ukraine, Kyiv region,
40-Richya Zhovtnya Str. 126/18
(c) ECONOMIC COURT OF KYIV REGION
01030, Ukraine, Kyiv region,
B. Hmelnitskij Boulevard, 44-B
DNIPRO: Proofs of Claim Deadline August 22
------------------------------------------
The Economic Court of Poltava region commenced bankruptcy
supervision procedure on LLC Dnipro (code EDRPOU 30941409) on
July 7, 2005. The case is docketed as 7/70. Mr. Volodimir
Nesvit (License Number AA 176021) has been appointed temporary
insolvency manager. The company holds account number
26040418075091 at CB Privatbank, MFO 331401.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) DNIPRO
Ukraine, Poltav region,
Mirgorod district, Lubivshina
(b) Mr. Volodimir Nesvit
Temporary Insolvency Manager
36003, Ukraine, Poltava region,
Nezalezhnosti Square, 1 B, Room 18
Phone: 50-80-67
(c) ECONOMIC COURT OF POLTAVA REGION
36000, Ukraine, Poltava region,
Zigina Str. 1
HIM-TEPLO: Under Bankruptcy Supervision
---------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on LLC Him-Teplo (code EDRPOU 32603548).
The case is docketed as 12/57-05. Mr. Shevchenko Igor has been
appointed temporary insolvency manager.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) HIM-TEPLO
40030, Ukraine, Sumi region,
Lebedinska Str. 7
(b) Mr. Shevchenko Igor
Temporary Insolvency Manager
40024, Ukraine, Sumi region,
Harkivska Str. 4/172
Phone: 8 (0542) 34-00-05
(c) ECONOMIC COURT OF SUMI REGION
40011, Ukraine, Sumi region,
Shevchenko Avenue, 18/1
IVA-GALICH: Declared Insolvent
------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Iva-Galich (code EDRPOU 23976011) on June 30,
2005 after finding the limited liability company insolvent. The
case is docketed as 6/38-4/21. Mr. Y. Onushkanich (License
Number AA 484203) has been appointed liquidator/insolvency
manager. The company holds account number 26005620133311 at JSCB
Ukrsocbank, Lviv regional branch.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) IVA-GALICH
Ukraine, Lviv region,
Vinniki, Krushelnitska Str. 1/4
(b) Mr. Y. Onushkanich
Liquidator/Insolvency Manager
79031, Ukraine, Lviv region,
Strijska Str. 71 b/3
(c) ECONOMIC COURT OF LVIV REGION
79010, Ukraine, Lviv region,
Lichakivska Str. 81
KRIVBAS-ASFALT: Creditors' Claims Due Next Week
-----------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on Subsidiary Enterprise Krivbasasfalt
(code EDRPOU 31250914) on April 8, 2005. The case is docketed as
B 29/63/05. Mr. Oleksandr Shramko (License Number AA 176027) has
been appointed temporary insolvency manager. The company holds
account number 26000801573121 at OJSC Ukreksimbank, Krivij Rig
branch, MFO 305589.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) KRIVBASASFALT
53022, Ukraine, Dnipropetrovsk region,
Krivij Rig district,
Maryanivka, Lozuvatska str
(b) Mr. Oleksandr Shramko
Temporary Insolvency Manager
50039, Ukraine, Dnipropetrovsk region,
Krivij Rig, Nezalezhnosti Ukraini Str. 26/9
(c) ECONOMIC COURT OF DNIPROPETROVSK REGION
49600, Ukraine, Dnipropetrovsk region,
Kujbishev Str. 1a
POLIMER: Insolvency Manager Takes over Helm
-------------------------------------------
The Economic Court of Volinska region commenced bankruptcy
proceedings against Polimer (code EDRPOU 21736642) on April 2,
2005 after finding the close joint stock company insolvent. The
case is docketed as 1/36-B. Mr. I. Kostukevich (License Number
AA 176084) has been appointed liquidator/insolvency manager.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) POLIMER
Ukraine, Volinska region,
Lokachi, Gorelov Str. 14
(b) Mr. I. Kostukevich
Liquidator/Insolvency Manager
43000, Ukraine, Lutsk region,
Grushkevskij Str. 30/22
Phone: (0322) 77-63-59
(c) ECONOMIC COURT OF VOLINSKA REGION
43010, Ukraine, Lutsk region,
Voli Avenue, 54-a
SERP & MOLOT: Succumbs to Bankruptcy
------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on OJSC Serp & Molot (code EDRPOU 00236004)
on January 26, 2005. The case is docketed as B-24/17-05. Mr. V.
Verbitskij (License Number AB 216762) has been appointed
temporary insolvency manager. The company holds account number
260083016393 at JSCB Zoloti Vorota, MFO 351931.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) SERP & MOLOT
61068, Ukraine, Harkiv region,
Moskovskij Avenue, 183
(b) ECONOMIC COURT OF HARKIV REGION
61022, Ukraine, Harkiv region,
Svobodi Square, 5, Derzhprom, 8th Entrance
STAL: Gives Creditors Until Next Week to File Claims
----------------------------------------------------
The Economic Court of Kirovograd region commenced bankruptcy
supervision procedure on CJSC Stal (code EDRPOU 31377791) on
April 22, 2005. The case is docketed as 10/88. Mrs. Svitlana
Mogilan (License Number AA 419269) has been appointed temporary
insolvency manager. The company holds account number
26001183260000 at JSCB UkrSibbank, Poltava branch, MFO 331865.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) STAL
27500, Ukraine, Kirovograd region,
Svitlovodsk, Lenin Str. 23
(b) Mrs. Svitlana Mogilan
Temporary Insolvency Manager
Ukraine, Kirovograd region,
Kropivnitskij Str. 7/57
(c) THE ECONOMIC COURT OF KIROVOGRAD REGION
25022, Ukraine, Kirovograd region,
Lunacharski Str. 29
TROSTYANETSBUD: Bankruptcy Supervision Begins
---------------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on Subsidiary Enterprise Trostyanetsbud
(code EDRPOU 05399001) on June 6, 2005. The case is docketed as
7/55-05. Mr. Artem Oskorbin (License Number AA 0216734) has been
appointed temporary insolvency manager. The company holds
account number 26065275578001 at CB Privatbank, Sumi branch, MFO
337546.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) Mr. Artem Oskorbin
Temporary Insolvency Manager
40030, Ukraine, Sumi region,
Kurskij Lane, 18-a
(b) ECONOMIC COURT OF SUMI REGION
40011, Ukraine, Sumi region,
Shevchenko Avenue, 18/1
UKRSPETSPRODUCT: Court Appoints Liquidator
------------------------------------------
The Economic Court of Volinska region commenced bankruptcy
proceedings against Ukrspetsproduct (code EDRPOU 30391857) on May
24, 2005 after finding the limited liability company insolvent.
The case is docketed as 1/36-B. Mr. I. Kostukevich (License
Number AA 176084) has been appointed liquidator/insolvency
manager.
Creditors have until August 22, 2005 to submit their proofs of
claim to:
(a) UKRSPETSPRODUCT
Ukraine, Lutsk region,
Volodimirska Str. 54
(b) Mr. I. Kostukevich
Liquidator/Insolvency Manager
43000, Ukraine, Lutsk region,
Grushkevskij Str. 30/22
Phone: (0322) 77-63-59
(c) ECONOMIC COURT OF VOLINSKA REGION
43010, Ukraine, Lutsk region,
Voli Avenue, 54-a
===========================
U N I T E D K I N G D O M
===========================
ACTION TRAVEL: Files for Liquidation
------------------------------------
At an Extraordinary General Meeting of the Members of Action
Travel Limited, duly convened, and held at Hampstead Britannia
Hotel, Primrose Hill Road, Hampstead, London NW3 3NA, on 26 July
2005, the following Resolutions were duly passed as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:
"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Alan Bradstock be and he is hereby appointed Liquidator for the
purposes of such winding-up."
Following the Meeting of Members, there was a Meeting of
Creditors at which the appointment of Tim Brown and Stephen
Evans, of Pure Recovery LLP was confirmed as Joint Liquidators of
the Company. This supercedes the previously noted appointment.
S M Fakir, Director
* * *
Action Travel ceased trading on 27 June 2005.
CONTACT: PURE RECOVERY
141-143 Shoreditch High Street
London E1 6JE
E-mail: tim.brown@purerecovery.com
AIRSOFT LTD.: Court Issues Winding-up Order
-------------------------------------------
Company Name: AIRSOFT LTD.
267 Yeading Lane,
Hayes,
Middlesex, UB4 9AE
Registration Number: 03123015
Court: High Court of Justice
Date of Filing Petition: June 10, 2005
No. of Matter: 003842 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
ANOTHER PUB: Files for Liquidation
----------------------------------
Company Name: ANOTHER PUB COMPANY LIMITED
Sovereign House,
7 Station Road, Kettering,
Northamptonshire, NN15 7HH
Registration Number: 03848255
Court: Bristol District Registry
Date of Filing Petition: June 3, 2005
No. of Matter: 2350 of 2005
Date of Winding-up Order: July 27, 2005
CONTACT: Official Receiver
Sol House, 29
St. Katherines Street,
Northampton, NN1 2QZ
Phone: 01604 542400
Fax: 0104 542450
APAC DESIGN: Creditors Meeting Set Next Week
--------------------------------------------
Notice is hereby given by Richard John Elwell and David John
Watchorn, of Elwell Watchorn & Saxton LLP, 109 Swan Street,
Sileby, Loughborough, Leicestershire LE12 7NN, that a Meeting of
the Creditors of APAC Design Limited (Company No 04021965), c/o
Elwell Watchorn & Saxton LLP, 109 Swan Street, Sileby,
Loughborough, Leicestershire LE12 7NN, is to be held at Elwell
Watchorn & Saxton LLP, 109 Swan Street, Sileby, Loughborough,
Leicestershire LE12 7NN, on 23 August 2005, at 2:30 p.m. The
Meeting is an initial Creditors' Meeting under paragraph 51 of
Schedule B1 to the Insolvency Act 1986. A proxy form should be
completed and returned to me by the date of the Meeting if you
cannot attend and wish to be represented. In order to be entitled
to vote under Rule 2.38 at the Meeting you must give to me, not
later than 12:00 noon on the business day before the day fixed
for the Meeting, details in writing of your claim.
D J Watchorn, Joint Administrator
CONTACT: APAC DESIGN LTD
Loughborough Road
Rothley
Leicester LE7 7NL
Phone: 0870-241 3632
Web site: http://www.apacdesign.com/
ELWELL WATCHORN & SAXTON
109 Swan Street,
Sileby, Leicestershire, LE12 7NN
Phone: (+44) 01509 815150
Fax: (+44) 01509 815121
E-mail: office@ews-insolvency.co.uk
Web site: http://www.ews-insolvency.co.uk
ASHTEAD GROUP: Awards 58 Senior Executives Share Options
--------------------------------------------------------
Ashtead Group plc has granted annual awards for 2005 to 58 senior
executives under its Performance Share Plan.
Awards under the PSP comprise the conditional right to receive
ordinary shares of 10 pence each, which normally vest on the
third anniversary of grant subject to continued employment and
the meeting of challenging earnings per share and total
shareholder return targets established by the Remuneration
Committee.
The company intends to utilize a combination of existing shares
held by the company's Employee Share Ownership Trust and new
shares to be purchased by the ESOT to fulfill any obligation to
employees, which may arise in August 2008.
The 176,469 ordinary shares conditionally granted to Mr. S I
Robson on 29 July 2002 under the Company's Investment Incentive
Plan have vested unconditionally as the performance criteria
attaching to the grant have been met in full.
Mr. Robson has sold 50,579 shares at GBP1.1425 per share to meet
the associated tax liability and has retained the balance of
125,890 shares.
About the Company
Registered in the U.K., Ashtead is a leading provider of rental
equipment in the U.K. and the U.S., through its a-Plant and
Sunbelt subsidiaries. As at financial year ending April 30,
2005, the group generated annual revenues of GBP523.7 million
and EBITDA of GBP169.7 million. As at 30 April 2005, net
debt was GBP493.2 million.
In July, Ashtead completed its refinancing, which included:
(a) the raising of approximately GBP70 million before expenses
through the Placing and Open Offer of approximately 73.4
million New Ordinary Shares at 95.5 pence per share; and
(b) the raising of US$250 million (approximately GBP142
million), before expenses, by the issue of New Senior Loan
Notes, which carry an interest rate of 8 5/8 % and will be
repayable in full in August 2015.
From the proceeds of the refinancing, Ashtead has now repaid the
Convertible Loan Note at a discount of approximately 11% and
will redeem GBP42 million of the existing Senior Loan Notes,
which carry interest at a rate of 12%.
Together these transactions have further deleveraged the balance
sheet and reduce borrowing costs; further extended the average
debt maturity to approximately 7 years; avoided the potential
dilution to existing shareholders which would occur if the
Convertible Loan Note were to convert into equity; broadened the
investor base; and facilitated the payment of dividends in the
future.
CONTACT: ASHTEAD GROUP PLC
King's Court, 41-51 Kingston Rd.
Leatherhead
Surrey KT22 7AP, United Kingdom
Phone: +44-1372-362-300
Fax: +44-1372-376-610
Web site: http://www.ashtead-group.com
George Burnett, Chief Executive Officer
Ian Robson, Chief Finance Officer
Phone: +44 (0)1372 362300
ATLANTIC ENERGY: Court Orders Liquidation
-----------------------------------------
Company Name: ATLANTIC ENERGY SERVICES LTD.
187 High Road Leyton,
London, E15 2YB
Registration Number: 03525486
Court: High Court of Justice
Date of Filing Petition: June 8, 2005
No. of Matter: 003716 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
BAR BLUU: Opts for Liquidation
------------------------------
At an Extraordinary General Meeting of the Members of Bar Bluu
(Bournemouth) Limited, duly convened, and held at 20 Brunswick
Place, Southampton SO15 2AQ, on 2 August 2005, the following
Resolutions were duly passed as an Extraordinary Resolution and
as an Ordinary Resolution respectively:
"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 T
C Evans, of Rogers Evans, 20 Brunswick Place, Southampton SO15
2AQ, be and is hereby appointed Liquidator for the purpose of
such winding-up."
M G Richards, Chairman
CONTACT: BAR BLUU
6a Christchurch Road
Bournemouth
Dorset
BH1 3NE
Web site: http://www.barbluu.com/
ROGERS EVANS
20 Brunswick Place
Southampton
Hampshire SO1 2AQ
Phone: 023 8033 5888
Fax: 023 8033 4400
E-mail: tevans@rogersevans.co.uk
BARREL FOODS: Hires Administrators from P&A Partnership
-------------------------------------------------------
Name: BARREL FOODS LIMITED
(Company No 03898873)
Nature of Business: Food Distribution
Registered Office of Company: 93 Queen Street, Sheffield S1 1WF
Date of Appointment: 5 August 2005
Joint Administrators' Names and Address: Andrew Philip Wood (IP
No 9148) and Christopher Michael White (IP No 9374), both of The
P&A Partnership, 93 Queen Street, Sheffield S1 1WF
* * *
Barrel Foods was established in 1944. It has been providing
wholesale delivery service throughout the United Kingdom. Visit
http://www.barrelfoods.co.uk/for more information.
CONTACT: BARREL FOODS LTD
214-220 Southchurch Drive,
Nottingham, Nottinghamshire NG11 8AA
Phone: 0115-921-3267
THE P&A PARTNERSHIP
93 Queen Street, Sheffield S1 1WF
Phone: (0114) 275 5033
Fax: (0114) 276 8556
E-mail: info@poppletonappleby.co.uk
Web site: http://www.thepandapartnership.com
BHACHU CONSTRUCTION: Calls in Liquidator
----------------------------------------
At an Extraordinary General Meeting of the Members of Bhachu
Construction Limited, duly convened, and held at Langley House,
Park Road, London N2 8EX, on 4 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
Alan Simon be and he is hereby appointed Liquidator for the
purposes of such winding-up."
S Bhachu, Director
CONTACT: BHACHU CONSTRUCTION LIMITED
41 Nightingale Lane, London E11 2HD
Phone: 02089896547
BISWELL & LEGGATE: Collapses into Liquidation
---------------------------------------------
At an Extraordinary General Meeting of Biswell & Leggate Carpet
co. Limited, duly convened, and held at Allen House, 1 Westmead
Road, Sutton, Surrey SM1 4LA, on 1 August 2005, the following
Special Resolution was duly passed:
"That the Company be wound up voluntarily, and that Martin
Charles Armstrong, of Turpin Barker Armstrong, Allen House, 1
Westmead Road, Sutton, Surrey SM1 4LA, be and is hereby appointed
Liquidator of the Company for the purpose of such winding-up."
D Leggate, Chairman
CONTACT: BISWELL & LEGGATE CARPET CO
2A Revelstoke Road, London, SW18 5PD
Phone: 020 8946 4885
TURPIN BARKER ARMSTRONG
Allen House
1 Westmead Road, Sutton, Surrey SM1 4LA
Phone: +44 (0) 20 8661 7878
Fax: +44 (0) 20 8661 0598
E-mail: tba@turpinba.co.uk
Web site: http://www.turpinba.co.uk
BULLS INDUSTRIAL: Hires Sanderlings to Liquidate Assets
-------------------------------------------------------
At an Extraordinary General Meeting of Bulls Industrial Services
Limited held at Church Steps House, Queensway, Halesowen, West
Midlands B63 4AB, on Thursday 4 August 2005, the following
Extraordinary Resolutions were duly passed:
"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 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."
L M Mantle, Chairman
CONTACT: SANDERLINGS LLP
Sanderling House,
1071 Warwick Road,
Acocks Green, Birmingham B27 6QT
BULLS INDUSTRIAL SERVICES
20 Moat Road, Tipton, West Midlands DY4 9PS
Phone: 01215573548
CABLE & WIRELESS: Unit Sells Stake in Singaporean Firm
------------------------------------------------------
Cable & Wireless plc's subsidiary Great Eastern
Telecommunications Limited has signed a conditional agreement for
the sale of its entire shareholding in MobileOne
Limited, representing approximately 12.1% of the issued and paid
up capital of M1. GET is a joint venture between Cable &
Wireless (51%) and PCCW Limited (49%).
The purchaser is SunShare Investments Ltd, a joint venture
between TM International Sdn Bhd (a wholly owned subsidiary of
Telekom Malaysia Berhad) and Khazanah Nasional Berhad.
Completion is conditional upon the Purchaser obtaining approval
for the acquisition of the stake in M1 from The Infocomm
Development Authority of Singapore, which is anticipated by the
end of September.
The consideration will be S$2.20 per share being S$260.8 million
in total (GBP87 million at the closing exchange rate on 16 August
2005) of which Cable & Wireless is entitled to GBP44.4 million
through its 51% holding in GET.
JPMorgan Cazenove acted as financial adviser to Cable & Wireless
on this transaction.
About M1
M1 is a mobile communications provider in Singapore offering a
full range of mobile voice and data communications services as
well as international call services to both mobile and fixed line
customers.
CONTACT: CABLE & WIRELESS PLC
124 Theobalds Rd.
London WC1X 8RX, United Kingdom
Phone: +44-20-7315-4000
Fax: +44-20-7315-5198
Web site: http://www.cw.com/new/
CAPITAL INDEX: Calls in Liquidator
----------------------------------
At an Extraordinary General Meeting of Capital Index Limited held
at Number One, Farnham Road, Guildford, Surrey GU2 4RG, on 4
August 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 to wind up the same, and
accordingly that the Company be wound up voluntarily, and that E
J Stonham, of Stonham.Co, Number One, Farnham Road, Guildford,
Surrey GU2 4RG, be and he is hereby appointed Liquidator of the
Company for the purpose of the voluntary winding-up."
J Newlands, Chairman
CONTACT: CAPITAL INDEX LIMITED
Web site: http://www.capitalindexgroup.co.uk/
STONHAM.CO
Equity & Law House,
14-15 Brunswick Place,
Southampton SO15 2AQ
Phone: 01243 862800
Fax: 01243 839901
CASTLE OAK: Falls into Liquidation
----------------------------------
By Written Resolution of all the Members of Castle Oak Building &
Design Ltd, the following Resolutions were duly passed on 2
August 2005, as an Extraordinary Resolution and as an Ordinary
Resolution respectively:
"That it has been proved to the satisfaction of the Members that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
John Kelmanson and Elias Paourou, be and are hereby appointed
Joint Liquidators for the purposes of such winding-up."
J Rogers
CONTACT: CASTLE OAK BUILDING & DESIGN LTD
Unit 21, Tolpits Lane, Watford, Hertfordshire WD18 9ET
Phone: 01923211830
CHEER STORE: EGM Passes Winding-up Resolution
---------------------------------------------
At an Extraordinary General Meeting of Cheer Store Limited, duly
convened, and held at Allen House, 1 Westmead Road, Sutton,
Surrey SM1 4LA, on 8 August 2005, the following Extraordinary
Resolutions were duly passed:
"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and that
accordingly that the Company be wound up voluntarily, and that
Martin Charles Armstrong, of Turpin, Barker Armstrong, Allen
House, 1 Westmead Road, Sutton, Surrey SM1 4LA, be appointed
Liquidator for the purposes of such winding-up."
T Crow, Chairman
CONTACT: TURPIN BARKER ARMSTRONG
Allen House
1 Westmead Road, Sutton, Surrey SM1 4LA
Phone: +44 (0) 20 8661 7878
Fax: +44 (0) 20 8661 0598
E-mail: tba@turpinba.co.uk
Web site: http://www.turpinba.co.uk
CLARITY FINANCIAL: Members Decide to Wind up Company
----------------------------------------------------
At an Extraordinary General Meeting of the Members of Clarity
Financial Planning Services Limited, duly convened, and held at
Parsonage Chambers, 3 The Parsonage, Manchester M3 2HW, 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
John Paul Bell, be and he is hereby appointed Liquidator for the
purposes of such winding-up."
H M Taylor, Director
CLEAR LIMITED: Creditors Meeting Set Next Week
----------------------------------------------
Notice is hereby given by Peter Alan Kubik and Andrew Andronikou,
of UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y
5DH, that a Meeting of Creditors of Clear Limited (Company No
03809390), St Alphage House, 2 Fore Street, London EC2Y 5DH, is
to be held at the offices of UHY Hacker Young, 2 Fore Street,
London EC2Y 5DH, on 5 September 2005, at 10:30 a.m. The Meeting
is an initial Creditors' Meeting under paragraph 51 of Schedule
B1 to the Insolvency Act 1986. A proxy form should be completed
and returned to me by the date of the Meeting if you cannot
attend and wish to be represented. In order to be entitled to
vote under Rule 2.38 at the Meeting you must give to me, not
later than 12:00 noon on the business day before the day fixed
for the Meeting, details in writing of your claim.
P A Kubik, Joint Administrator
* * *
Clear is one of London's leading boutique visual effects
facilities. It provides visual effects for commercials, music
videos, long form television and feature films. Visit
http://www.clear.ltd.ukfor more information.
CONTACT: CLEAR LTD.
Fenton House
55-57 Great Marlborough Street
London, England W1 F7JX
Phone: 0207 7345557
Fax: 0207 7344533
E-mail: clear@clear.ltd.uk
UHY HACKER YOUNG
St Alphage House,
2 Fore Street, London EC2Y 5DH
Phone: 020 7216 4600
Fax: 020 7638 2159
Web site: http://www.uhy-uk.com
CLYDESDALE BANK: Closing Branches in Aberdeen, Aberdeenshire
------------------------------------------------------------
Clydesdale Bank will close 18 branches in the northeast by the
end of the year. This is part of the plan announced by parent
National Australia Bank in May to shut down a total of 60
offices.
The branches to be closed are in Aberchirder, Ballater, Cruden
Bay, Echt, Fyvie, Inverbervie, Kemnay, Kintore, Laurencekirk, New
Deer, Oldmeldrum, Portsoy, Rhynie, Strathdon, Strichen, Tarland,
Tarves, and Torphins.
The bank has been losing clients due to the increasing popularity
of Internet and telephone banking. Steve Reid, general manager
for retail banking at Clydesdale Bank, said the branches had only
1,200 customers per branch, compared with the industry average of
9,800. The company has 23 other branches in the city of Aberdeen
and Aberdeenshire.
In December, the bank announced a 44% drop in profits to GBP90
million. It slashed interim dividend to NAB and scrapped final
dividend. Clydesdale's profit has been in decline for the past
three years. It was performing poorly at a time when rival HBOS
and Royal Bank of Scotland are flourishing.
CONTACT: CLYDESDALE BANK
Banking Hall
30 St. Vincent Place
Glasgow G1 2HL
Phone: 0141 951 7000
Web site: http://www.cbonline.co.uk
THE ROYAL BANK OF SCOTLAND GROUP PLC
42 St Andrew Square
Edinburgh EH2 2YE
Phone: +44-131-556-8555
Fax: +44-131-557-6140
Web site: http://www.rbs.com
BANK OF SCOTLAND
3rd Floor
Citymark
150 Fountainbridge
Edinburgh EH3 9PE
Web site: http://www.bankofscotland.co.uk
CLYDESDALE BANK: Amicus Condemns Branch Closures
------------------------------------------------
Amicus Britain's biggest private sector union is appalled at
National Australia Group's announcement that it intends to close
a further 31 branches across England and Scotland. Fifteen of
the branches will be the last branch in town.
The closures have once again hit Clydesdale Bank and Yorkshire
Bank branches in some of the most vulnerable areas of the
community. Plus the bank has reneged on its 2002 promise to keep
'last bank in town' branches open.
The impact on the local communities is severe with some customers
expected to travel up to 26 miles of rural roads to access full
banking facilities. The bank's decision once again shows a
disregard to the representations made by Amicus, MPs and MSPs on
the commitment to local communities, particularly in the light of
the bank's Corporate Social Responsibility Agenda.
Branch closures lead to economic cost and inconvenience to small
businesses, the elderly, the disabled and others who will be
forced to use alternative banking locations/facilities. Closures
exclude low-income consumers from mainstream financial services.
Bank branch closures contribute to commercial decline of
communities as better off consumers change their purchasing
habits along with the need to travel further afield for banking
services, businesses close, re-generation is rendered more
unlikely and start-up finance for local business becomes more
difficult to obtain.
The Environment Actions taken by consumers to overcome the
problems caused directly and indirectly by bank branch closures
contribute to environmental damage, for example, through
increasing motor vehicle usage.
Amicus National Officer, Mary Alexander, said: "U.K. Banks
provide a crucial service to the community and our economic
security depends on them. NAG have shelved their Corporate
Responsibilities. These closures will affect some of the most
vulnerable areas of the community. Amicus is calling on NAG to
reverse this decision and to listen to the unions, consumers, MPs
and MSPs alike.
"Amicus will be working to ensure that there will be no
compulsory redundancies and staff are found suitable alternative
employment within the bank."
CONTACT: CLYDESDALE BANK
Banking Hall
30 St. Vincent Place
Glasgow G1 2HL
Phone: 0141 951 7000
Web site: http://www.cbonline.co.uk
COGGERS LIMITED: Calls in Joint Liquidators
-------------------------------------------
At an Extraordinary General Meeting of the Members of Coggers
Limited, duly convened, and held at St David's Park Hotel, St
Davids Park, Ewloe, Deeside CH5 3YB, 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 D
F Wilson and J N R Pitts, be and are hereby appointed Joint
Liquidators for the purposes of such winding-up."
E J Cogger
CONTACT: COGGERS LIMITED
Phone: 01244 399999
Fax: 01244 398855
COLLINS & AIKMAN: Kroll Seeks Bids for European Businesses
----------------------------------------------------------
Kroll U.K. is soliciting expressions of interest in the business
and assets of Collins & Aikman Corporation's European trading
businesses.
The businesses were advertised for sale in The Financial Times on
July 29, 2005.
Collins & Aikman Europe operates 23 facilities in nine countries
-- United Kingdom, Italy, Sweden, The Netherlands, Germany, Czech
Republic, Austria, Belgium and Spain. The European group also
has holdings in Turkey and Brazil.
The European group reported 2004 revenues in excess of $1
billion. It is not yet known whether the European businesses
will be sold to bidders individually or as a group, according to
Auto Industry. Collins & Aikman Europe was placed into
administration on July 15, 2005.
Contact: Del Huse
Kroll Corporate Advisory & Restructuring Group
10 Fleet Place
London EC4M 7RB
E-mail: dhuse@krollworldwide.com
Collins & Aikman Corporation and its debtor-affiliates obtained
last month a "group wide" Administration order pursuant to the
jurisdiction of the English High Court in London. Simon Appell
and Alastair Beveridge, among others, of Kroll have been
appointed joint administrators of each of the companies.
Headquartered in Troy, Michigan, Collins & Aikman Corporation
-- http://www.collinsaikman.com/-- is a global leader in cockpit
modules and automotive floor and acoustic systems and is a
leading supplier of instrument panels, automotive fabric,
plastic-based trim, and convertible top systems. The Company has
a workforce of approximately 23,000 and a network of more than
100 technical centers, sales offices and manufacturing sites in
17 countries throughout the world. The Company and its
debtor-affiliates filed for chapter 11 protection on May 17, 2005
(Bankr. E.D. Mich. Case No. 05-55927). When the Debtors filed
for protection from their creditors, they listed $3,196,700,000
in total assets and $2,856,600,000 in total debt. (Collins &
Aikman Bankruptcy News, Issue No. 11; Bankruptcy Creditors'
Service, Inc., 215/945-7000)
CONTACT: COLLINS & AIKMAN EUROPE
Automotive Holding GmbH
Kruetzpoort 16
47804 Krefeld
Germany
Phone: +49 2151 36336-0
Fax: +49 2151 36336-99
E-mail: sekretariat.krefeld@colaik.com
COMMPETE LIMITED: Creditors Meeting Today
-----------------------------------------
Notice is hereby given by Jonathan Lord and Robert Cooksey, of
Bridgestones, 125-127 Union Street, Oldham OL1 1TE, that a
Meeting of the Creditors of Commpete Limited (Company No
04097257), 125-127 Union Street, Oldham OL1 1TE, is to be held at
Holiday Inn-Reading, Caversham Bridge, Richfield Avenue, Reading
RG1 8BD, on 19 August 2005, at 11:00 a.m. The Meeting is an
initial Creditors' Meeting under paragraph 51 of Schedule B1 to
the Insolvency Act 1986. A proxy form should be completed and
returned to me by the date of the Meeting if you cannot attend
and wish to be represented. In order to be entitled to vote
under Rule 2.38 at the Meeting you must give to me, not later
than 12:00 noon on the business day before the day fixed for the
Meeting, details in writing of your claim.
Joint Administrator
* * *
Commpete was formed in April 1999 and commenced trading in June
that year. The outsourcing business was based on a model
successfully implemented by the managing director years before in
another company, replicating and improving the service offering
to financial, automotive and education sectors of industry.
Visit http://www.commpete.com/for more information.
CONTACT: COMMPETE LIMITED
Old Drummers Arms
16-18 Northcroft Lane
Newbury
Berkshire
RG14 1BU, United Kingdom
Phone: +44 1635 565888
E-mail: sales@commpete.com
BRIDGESTONES
125-127 Union Street
Oldham
Lancashire OL1 1TE
Phone: 0161 785 3700
Fax: 0161 785 3701
E-mail: rlc@bridgestones.co.uk
COMPLETEFOODS LTD.: Court Issues Liquidation Order
--------------------------------------------------
Company Name: COMPLETEFOODS LTD.
c/o M H Bower,
9 The Pavilions Mount Vernon,
Frogal,
London, NW3 6PZ
Registration Number: 02782255
Court: High Court of Justice
Date of Filing Petition: May 11, 2005
No. of Matter: 003080 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
CORANMOOR LIMITED: Collapses into Liquidation
---------------------------------------------
Company Name: CORANMOOR LIMITED
Court: Bristol District Registry
Date of Filing Petition: June 8, 2005
No. of Matter: 2399 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
COSTAIN GROUP: IFRS Shift to Affect Spanish Joint Venture
---------------------------------------------------------
Costain Group plc, in line with all publicly listed companies in
the European Union, will be reporting its financial results in
accordance with International Financial Reporting Standards with
effect from 1 January 2005.
The Company's first report under the new standards will be the
announcement of its half-year results for the period ended 30
June 2005. Ahead of these results, Costain has presented the
impact of the transition to IFRS.
Having reviewed the impact of IFRS across the Group, the majority
of changes are of a presentational nature only, and the Group's
core contracting businesses and underlying cash flows are
unaffected. The principal impact on the Group's income statement
is from its joint venture property development in Southern Spain,
Alcaidesa, and the timing of both revenue and profit recognition
within that operation.
Under IFRS, there is a change in the revenue recognition policy
at Alcaidesa. Revenue was previously recognized after exchange
of contract and when any outstanding conditions, principally the
completion of infrastructure, were under its control.
However, IFRS is more specific about recognizing revenue when
there remain any significant outstanding acts. This means that
under IFRS, revenue will be recognized when risk associated with
ownership of the land is transferred and all significant acts are
complete.
The impact of this change is to defer sales recognized by the
joint venture in 2004 until the associated infrastructure is
complete. This has reduced the Group's earnings for the year
ended 31 December 2004 by GBP6.4 million and for the six months
ended 30 June 2004 by GBP1.9 million. However, it is anticipated
that the majority of these infrastructure works will be completed
in 2005 and the corresponding profit recognized accordingly.
The business strategy of Alcaidesa, which is to purchase land and
then secure the necessary planning consent before selling parcels
of the land for development, will not be affected by this change.
However, the future financial results are likely to be more
volatile as future infrastructure works on land interests may
extend over a twelve-month period, thereby deferring sales to the
following year. Alcaidesa is the only part of the Group affected
by this change.
A copy of the report on the impact of the transition to IFRS is
available free of charge at
http://bankrupt.com/misc/CostainGroup(IFRS).pdf
* * *
Costain collapsed under heavy debt in the mid 1990s after
venturing into U.S. mining. It is still trying to recover, with
its first dividend in years expected this year or next. Its
core U.K. business reported a GBP10.5 million profit last year
after plunging into a EUR5 million loss in 2000.
The company has moved into asset management of water utilities
from civil engineering. In May, the special resolution
approving the reduction of share capital and cancellation of
share premium account in the Company was approved by the
Companies Court and was registered at Companies House.
CONTACT: COSTAIN GROUP PLC
Costain House, Nicholsons Walk
Maidenhead
SL6 1LN, United Kingdom
Phone: +44-1628-842-444
Fax: +44-1628-674-477
Web site: http://www.costain.com
Stuart Doughty, Chief Executive
Charles McCole, Finance Director
Graham Read, Public Relations
Phone: 01628 842 444
COSTAIN GROUP: Wins GBP6 Million 21-month Contract
--------------------------------------------------
The first phase of decommissioning of the Dragon nuclear reactor
at Winfrith, Dorset, has been awarded to the Costain Group by the
United Kingdom Atomic Energy Authority (UKAEA).
The letting of this 21-month contract (value GBP6 million)
signifies another major milestone in the Winfrith site closure
program.
Dragon reactor was a 20MW High temperature helium cooled reactor
sponsored by the International Organization for Economic
Development (OECD). It was formally opened in 1964 and was a
collaboration by 12 European countries to prove the feasibility
of a new reactor type.
The first phase of decommissioning covers the clear-out of the
inner and outer containment areas of the reactor including
removal of redundant plant and decontamination to low levels.
Alan Bennett, Dragon Project Manager said: "I am delighted that
another important contract has been let and look forward to
working with Costain. The letting of this contract means another
milestone has been reached putting UKAEA on track with our
accelerated program to complete decommissioning at Winfrith by
2020."
Ian Donnelly, Costain Nuclear Director, said: "Costain is looking
forward to commencing work on this project. Once underway we may
look to recruit staff from the surrounding area."
Ann Gout, Costain Contract Manager, said: "It is great to have
the opportunity to work on such a unique project. One of the
major challenges will be to maximize the amount of clean waste
removed from the site as well as implement a tight scheduled
project on time."
CONTACT: COSTAIN GROUP PLC
Costain House, Nicholsons Walk
Maidenhead
SL6 1LN, United Kingdom
Phone: +44-1628-842-444
Fax: +44-1628-674-477
Web site: http://www.costain.com
Stuart Doughty, Chief Executive
Charles McCole, Finance Director
Graham Read, Public Relations
Phone: 01628 842 444
COTTINGLEY PINE: Files for Liquidation
--------------------------------------
At an Extraordinary General Meeting of Cottingley Pine &
Furniture Centre Limited (t/a Skipton Pine), duly convened, and
held on 5 August 2005, the subjoined 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 that
accordingly the Company be wound up voluntarily, that Christopher
Charles Garwood and Francesca Patrice Devine, both of Carrick
Read Insolvency, Norwich House, Savile Street, Hull, be and they
are hereby appointed as Joint Liquidators for the purposes of the
winding-up, and that the Liquidators be entitled to act
separately as well as jointly."
Chairman
CONTACT: COTTINGLEY PINE & FURNITURE CENTRE LIMITED
15 Mill Field Road
Cottingley, Bingley, West Yorkshire BD16 1PY
Phone: 01274561680
CRADLECRAFT ENGINEERING: Appoints Tenon Recovery Administrator
--------------------------------------------------------------
Name: CRADLECRAFT ENGINEERING LIMITED
(Company No 1728496)
Nature of Business: Bespoke Engineering
Registered Office of Company: Highfield Court, Tollgate,
Chandlers Ford, Eastleigh, Hampshire SO53 3TZ
Date of Appointment: 3 August 2005
Joint Administrators' Names and Address: Carl Stuart Jackson and
Nigel Ian Fox (IP Nos 8860 and 8891), both of Tenon Recovery,
Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire
SO53 3TZ.
CONTACT: CRADLECRAFT ENGINEERING LTD
Unit 3 Lyndean Industrial Estate
133 Felixstowe Road
London SE2 9SG
Phone: 020 8312 1636
Fax: 020 8312 1118
Web site: http://www.cradlecraft.co.uk/
TENON RECOVERY
Highfield Court, Tollgate, Chandlers Ford,
Eastleigh, Hampshire SO53 3TZ
Phone: 023 8064 6464
Fax: 023 8064 6666
E-mail: southampton@tenongroup.com
Web site: http://www.tenongroup.com
CYGNET WOOLS: Court Sanctions Liquidation
-----------------------------------------
Company Name: CYGNET WOOLS LIMITED
12-14 Adelaide Street, Bradford,
West Yorkshire, BD5 OEF
Registration Number: 02960026
Court: Bradford
Date of Filing Petition: February 1, 2005
No. of Matter: 4 of 2005
Date of Winding-up Order: July 26, 2005
CONTACT: Official Receiver
3rd Floor, 1 City Walk,
Leeds, LS11 9DA
Phone: 01132 338222
Fax: 01132 338332
DANCEMODE LIMITED: Calls in Liquidator
--------------------------------------
At an Extraordinary General Meeting of Dancemode Limited, held at
Sanderling House, 1071 Warwick Road, Acocks Green, Birmingham B27
6QT, on Wednesday 3 August 2005, at 11:15 a.m., the following
Extraordinary Resolutions were duly passed:
"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 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."
R Sullivan, Chairman
CONTACT: SANDERLINGS LLP
Sanderling House,
1071 Warwick Road,
Acocks Green, Birmingham B27 6QT
DELTA FOODS: Wholesaler Calls in Administrator
----------------------------------------------
Name: DELTA FOODS (UK) LIMITED
(Company No 04412820)
Nature of Business: Wholesalers of Frozen Foods and Groceries
Registered Office of Company: 18 Sapcote Trading Centre, Dudden
Hill Lane, London NW10 2DH
Date of Appointment: 8 August 2005
Administrator's Name and Address: David Wald (IP No 3598), of D.
Wald & Co, 18 Sapcote Trading Centre, Dudden Hill Lane, London
NW10 2DH
* * *
John Kengan, a Ducthman living in Oban, established Delta Foods
in 1986. The company is an import/exporter of frozen chicken and
chicken products. Visit http://www.deltafoods.co.uk/for more
information.
CONTACT: DELTA FOODS LIMITED
8 Bute Business Park
Rothesay
Isle of Bute PA20 0DY
Phone: 01700 500150
Fax: 01700 500250
D. WALD & CO.
18 Sapcote Trading Centre
Dudden Hill Lane
London NW10 2DH
Phone: 020 8451 3939
Fax: 020 8830 2929
E.D.S. TRANSPORT: Owners Decide to Wind up Business
---------------------------------------------------
At an Extraordinary General Meeting of the Members of E.D.S.
Transport Services Limited, duly convened and held at Maple
House, High Street, Potters Bar, Hertfordshire EN6 5BS, on 9
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
Mr. M Arkin, of Arkin & Co., Maple House, High Street, Potters
Bar, Hertfordshire EN6 5BS, be and is hereby appointed Liquidator
for the purposes of such winding-up."
At a Meeting of Creditors held on 9 August 2005, the Creditors
confirmed the appointment of Mr. M Arkin.
E Mustafa, Chairman
CONTACT: ARKIN & CO.
Maple House
High Street
Potters Bar
Hertfordshire EN6 5BS
Phone: 01707 828 683
Fax: 01707 828 022
E-mail: mehmet.arkin@arkinco.co.uk
ELIZABETH CLAIRE: In Liquidation
--------------------------------
At an Extraordinary General Meeting of Elizabeth Claire Care
Management Limited, duly convened and held at Macs, 21 Stafford
Road, Croydon, Surrey CR0 4NG, on 29 July 2005, the subjoined
Extraordinary Resolution was duly passed:
"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Richard Frank Simms, of Insol House, 39 Station Road,
Lutterworth, Leicestershire LE17 4AP, be hereby appointed
Liquidator for the purposes of such winding-up."
D C Headley, Chairman
ESTRON SIGNATURE: Applies for Winding-up Order
----------------------------------------------
At an Extraordinary General Meeting of Estron Signature Limited,
duly convened, and held at No 1 St Swithin Street, Worcester WR1
2PY, on 4 August 2005, the subjoined Extraordinary Resolution was
duly passed:
"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
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 at No 1 St Swithin
Street, Worcester WR1 2PY, the appointment of Neil Francis
Hickling was confirmed by the Creditors.
M J Taylor, 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
FAR COTTON: Members Resolve to Liquidate Firm
---------------------------------------------
At an Extraordinary General Meeting of the Members of Far Cotton
Limited, duly convened, and held at 60-62 Old London Road,
Kingston upon Thames, Surrey, on 8 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
Philip Weinberg, of Marks Bloom, 60-62 Old London Road, Kingston
upon Thames KT2 6QZ, be and he is hereby nominated Liquidator for
the purpose of the winding-up."
E C Hammond-Edis, Director
CONTACT: MARKS BLOOM
60-62 Old London Road,
Kingston upon Thames, Surrey KT2 6QZ
Phone: +44 (0) 20 85499951
Fax: +44 (0) 20 85496218
Web site: http://www.marksbloom.co.uk
FRAMLINGTON SECOND: Investment Firm Winds up
--------------------------------------------
At an Extraordinary General Meeting of Framlington Second Dual
Trust Plc, held at 155 Bishopsgate, London EC2M 3XJ, on 4 August
2005, at 11:00 a.m., the following Special Resolution was passed:
"That the Company be wound up voluntarily, and Jeremy Spratt and
Finbarr O'Connell (the Liquidators), both of KPMG LLP, 8
Salisbury Square, London EC4Y 8BB, be and are hereby appointed
Liquidators of the Company with power to act jointly and
severally for the purpose of such winding-up."
The Hon N Soames, MP, Chairman
* * *
Bankers: HBOS PLC, HSBC Bank plc; Financial adviser and
stockbroker: UBS Investment Bank; Auditor: Deloitte & Touche; Law
Firm: Stephenson Harwood.
CONTACT: FRAMLINGTON SECOND DUAL TRUST PLC
155 Bishopsgate
London
EC2M 3XJ
United Kingdom
Phone: (020) 7374 4100
Fax: (020) 7330 6644
E-mail : contact@framlington.co.uk
KPMG LLP
PO Box 695,
8 Salisbury Square,
London EC4Y 8BB
Phone: (020) 7311 1000
Fax: (020) 7311 3311
Web site: http://www.kpmg.co.uk
FTP02 LTD: Opts for Liquidation
-------------------------------
Company Name: FTP02 LTD.
Mill House,
21 High Street, Wicken,
Cambridgeshire, CB7 5XR
Registration Number: 03945899
Court: Bristol District Registry
Date of Filing Petition: June 6, 2005
No. of Matter: 2361 of 2005
Date of Winding-up Order: July 27, 2005
CONTACT: Official Receiver
6th Floor, Sunley House,
Bedford Park,
Croydon, CR9 1TX
Phone: 020 8681 5166
Fax: 020 8667 8000
GASTROHOPES LIMITED: Appoints Liquidator
----------------------------------------
At an Extraordinary General Meeting of Gastrohopes Limited,
convened, and held at Cork, Ireland, on 27 July 2005, at 3:00
p.m., the following Resolutions were duly passed, as a Special
Resolution, as Ordinary Resolutions (2), as an Extraordinary
Resolution, and as Ordinary Resolutions respectively:
"That the Company be wound up voluntarily; that Geoffrey Paul
Rowley and Simon Peter Bower, of Robson Rhodes, 186 City Road,
London EC1V 2NU, be appointed as Joint Liquidators for the
purpose of such winding-up; that the remuneration of the Joint
Liquidators be fixed on the basis of time and expenses properly
incurred by them and their staff in attending matters arising in
connection with the winding-up and that they be entitled to draw
such remuneration monthly as they think fit; that the Joint
Liquidators may divide among the Members of the Company in specie
the whole or any part of the assets of the Company and may, for
that purpose, value any assets and determine how the division
shall be carried out as between the Members; that the Joint
Liquidators act jointly and severally; and that the Joint
Liquidators be authorized to destroy any of the Company's records
in their possession as they think fit."
Chairman
* * *
Gastro-Pro is an independent Web resource at the service of
gastroenterological and endoscopic physicians and surgeons, as
well as of professional organizations. It is funded entirely by
voluntary contributions from sponsors, mainly in the
pharmaceutical and medical equipment industries, and managed by
an informal consortium. It is supported by (a) OMED
(Organisation mondiale d'endoscopie digestive); (b) the World
Organization for Digestive Endoscopy; (c) OESO (Organization
mondiale d'etudes specialisees sur les maladies de l'oesophage);
(d) World Organization for Specialized Studies on Diseases of the
Esophagus: (e) Ethicon Endo-Surgery; and (f) Olympus Corporation.
See http://www.gastro-pro.org/for more information.
GATE GOURMET: Bankruptcy Looms as Creditors, Staff Grow Restive
---------------------------------------------------------------
Creditors of airline catering firm Gate Gourmet are intent on
collecting their loan, according to the Times. The company is
currently in talks with creditors after defaulting on monthly
interest payments on a CHF300 million (GBP132 million)
"mezzanine" loan since January.
The creditors are said to be eyeing a debt-for-equity swap that
will give them 65% of Gate Gourmet, plus CHF150 million in cash
in exchange for writing off the debt. Otherwise, the creditors,
who have lent almost CHF700 million to Gate Gourmet, may call in
their loans. This move could send Gate Gourmet into bankruptcy.
Gate Gourmet has already axed 667 workers as part of its
cost-cutting measures. This led to an unofficial strike by 1,000
British Airways ground staff at Heathrow last week, leaving over
110,000 passengers stranded. Its crisis worsened after
negotiations with the Transport and General Workers Union broke
down Wednesday night, according to the Financial Times in a
separate report.
Tony Woodley, the TGWU general secretary, said: "[British
Airways] must now play a part in the resolution of this situation
. . . It is our belief that [it] cannot do a Pontius Pilate on
this issue." The union added the company had been "wanting to
selectively re-employ those who had been sacked, even though
there is enough work for everyone."
Gate Gourmet, for its part, said the talks failed due the
preconditions set by the union.
Gate Gourmet U.K., which lost GBP22 million in 2004, is said to
be facing losses of GBP25 million this year. It has warned that
failure to reach an agreement with the union would most likely
force it into administration. It blames its crisis on its
"increasingly punitive" contract with British Airways, as well as
increasing staff costs and "1970s union-protected working
practices."
Eric Born, managing director of Gate Gourmet U.K., said he was
"utterly stunned and disappointed at the attitude of the union
and the way it has acted."
Meanwhile, a spokesman for British Airways told Daily Mail in
another report: "We've been in talks with (Gate Gourmet) since
April, but they have not put any new proposals forward in the
last few days."
CONTACT: GATE GOURMET U.K. & IRELAND
Phone: 0208 5135013
Mobile: 07810 561816
Web site: http://www.gategourmet.com
GODDARD WORKWEAR: Calls in Liquidator
-------------------------------------
At an Extraordinary General Meeting of the Members of Goddard
Workwear Limited, duly convened, and held at 90 St Faiths Lane,
Norwich NR1 1NE, 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
Chris Williams, of McTear Williams & Wood, 90 St Faiths Lane,
Norwich NR1 1NE, be and he is hereby appointed Liquidator for the
purposes of such winding-up."
S Goddard, Director
CONTACT: GODDARD WORKWEAR LTD
42b & 42c Pinbush Road
Lowestoft
NR33 7NL
Phone: 01502 564292
MCTEAR WILLIAMS & WOOD
De Vere House
90 St Faiths Lane
Norwich
Norfolk NR1 1NE
Phone: 01603 877540
Fax: 01603 877549
E-mail: chriswilliams@mw-w.com
GOLDLINK INTERNATIONAL: In Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of Goldlink
International Limited, duly convened, and held at Meridian House,
62 Station Road, North Chingford, London E4 7BA, on 8 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 A
J Clark, of Carter Clark, Meridian House, 62 Station Road, North
Chingford, London E4 7BA, be and he is hereby appointed
Liquidator for the purposes of the voluntary winding-up."
P Qureshi, Director
CONTACT: GOLDLINK INTERNATIONAL LIMITED
32a Rue Chemin Der Fer P.B. 61134
Phone: 0228/915-3097 FAX 0228/222/5084
CARTER CLARK
Meridian House
62 Station Road
North Chingford
London E4 7BA
Phone: 020 8524 1447
Fax: 020 8524 1457
E-mail: recovery@carterclark.co.uk
GREEN GAS: Winding-up Receives Green Light
------------------------------------------
Company Name: GREEN GAS POWER LTD.
16A Fore Street,
Topsham, Exeter,
Devon, EX3 OHF
Registration Number: 03106018
Court: High Court of Justice
Date of Filing Petition: December 10, 2004
No. of Matter: 007606 of 2004
Date of Winding-up Order: July 27, 2005
CONTACT: Official Receiver
3rd Floor, Senate Court,
Southernhay Gardens,
Exeter, EX1 1UG
Phone: 01392 889 650
Fax: 01392 422618
HELLFIRE LEISURE: Court Sanctions Liquidation
---------------------------------------------
Company Name: HELLFIRE LEISURE LIMITED LIABILITY PARTNERSHIP
Suite 8, Steadfast House,
Ben Nevis Place,
Queensway Industrial Estate,
Lytham St Annes, FY8 3LD
Registration Number: 0C308045
Court: Manchester District Registry
Date of Filing Petition: June 8, 2005
No. of Matter: 1502 of 2005
Date of Winding-up Order: 1st August 2005
CONTACT: Official Receiver
2nd Floor, Cunard Building,
Pier Head,
Liverpool, L3 1DS
Phone: 0151 236 9131
Fax: 0151 2437800
HIT ENTERTAINMENT: Proposed Second-Lien Loan Rated 'CCC+'
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'CCC+' bank loan
rating and a recovery rating of '5' to a proposed $172 million
second-lien term loan due 2013 of HIT Entertainment Inc. The
recovery rating of '5' indicates an expectation of negligible
recovery of principal (0%-25%)in the event of a payment default.
At the same time, Standard & Poor's affirmed its 'B' corporate
credit rating on U.S.-based HIT and its holding company, HIT
Entertainment Ltd.
Standard & Poor's also affirmed its 'B' bank loan rating and a
recovery rating of '3' on HIT's $453 million first-lien credit
facilities due 2011. The proposed second-lien term loan replaces
the previously proposed $172 million senior subordinated notes
offering. The outlook is negative. Pro forma for the
transaction, total debt outstanding at April 30, 2005, was $305
million.
"The ratings reflect HIT's significant content distribution risk
relating to its broadcast partners, its narrow base of operation,
its participation in a mature and competitive industry with
limited internal growth prospects, and its aggressive financial
policy," said Standard & Poor's credit analyst Andy Liu. These
factors are only partially offset by the company's strong brand
properties.
HIT is a preschool children's programming and entertainment
company. Its portfolio of properties includes Bob the Builder,
Thomas the Tank Engine, Barney the Dinosaur, Angelina Ballerina,
Pingu, Guinness World Records, and others. The company's
programming is broadcast by the Public Broadcasting Service (PBS)
and will start in the fall on Sprout, a digital-tier preschool
children's channel being launched by Comcast Corp.
(BBB+/Stable/A-2) (40% equity stake), HIT (30%), PBS (15%), and
Sesame Workshop (15%).
For the most part, HIT is not compensated by its broadcast
partners, but the broadcast of its programs generates demand for
home entertainment videos and license fees for toys sold by
outside entities responsible for the manufacturing process.
These two revenue sources account for more than 85% of the
company's revenues.
Content distribution represents a significant risk for the
company. Any adverse programming decision by a channel operator,
such as shifting program showtimes or reducing showings per week,
can have a material negative effect.
HIT's long-term contract with PBS (covering Bob the Builder,
Barney the Dinosaur, and Thomas the Tank Engine) and the launch
of Sprout should ensure the continued distribution of the
company's programs in the U.S., but any changes in programming
philosophy by broadcast partners could still have a material
impact on HIT.
Complete ratings information is available to subscribers of
RatingsDirect, Standard & Poor's Web-based credit analysis system
at http://www.ratingsdirect.com. All ratings affected by this
rating action can be found at http://www.standardandpoors.com;
under Credit Ratings in the left navigation bar, select Find a
Rating, then Credit Ratings
Search.
CONTACT: HIT ENTERTAINMENT PLC
Maple House
149 Tottenham Court Road
London W1T 7NF
U.K.
Phone: +44 (0)20 7554 2500
E-mail: sforrest@hitentertainment.com
Web site: http://www.hitentertainment.com
HOME BEST: Winding-up Petition Gets Court Approval
--------------------------------------------------
Company Name: HOME BEST LTD.
137 North Hyde Road, Hayes,
Middlesex, Ub34NR
Registration Number: 04471979
Court: Bristol District Registry
Date of Filing Petition: June 6, 2005
No. of Matter: 2371 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
INTERNATIONAL FINANCIAL: Files for Liquidation
----------------------------------------------
At an Extraordinary General Meeting of the Members of
International Financial Exhibitions Limited, duly convened, and
held at 46 Vivian Avenue, Hendon Central, London NW4 3XP, on 4
August 2005, the following Extraordinary Resolution was duly
passed:
"That it has been proved to the satisfaction of this Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Jonathan Sinclair, of Sinclair Harris, 46 Vivian Avenue, Hendon
Central, London NW4 3XP, be and he is hereby appointed Liquidator
for the purposes of the winding-up."
A Adomakoh, Chairman
* * *
International Financial Exhibitions Ltd. (IFex) is an
international conference organizing and training company
established in 1995.
CONTACT: INTERNATIONAL FINANCIAL EXHIBITIONS LTD.
5 Ella Mews
London NW3 2NH
United Kingdom
Phone: +44 (0) 20 7419 1000
Fax: +44 (0) 20 7419 1050
E-mail: customer.service@ifex.co.uk
KINLOCH DAMPH: Administrator Wants Term Extended
------------------------------------------------
The administrator of troubled fish farm Kinloch Damph wants to
extend the group's administration to two years to further improve
its situation, The Herald says.
David Hunter, head of corporate recovery at Campbell Dallas in
Paisley, said the extended period would allow him to grow and
harvest 500,000 salmon in a Shetlands farm, which he acquired
from Hoove Salmon when it went into receivership after failing to
pay for Kinloch Damph's stock. Hoove employees currently manage
and maintain the farm while Mr. Hunter oversees operations and
ensures employees are paid.
Mr. Hunter also plans to build a road in Ross-shire to "allow
direct access and maintain employment at the farm. Since taking
over last year, Mr. Hunter has already sold the group's main
business in Kishorn to Scottish Sea Farms, saving around 25 jobs.
Mr. Hunter also sold the smolt producer's estate to a London
barrister, who plans to run it as a commercial sporting venture.
Mr. Hunter said, "We are delighted that we have now successfully
sold all aspects of the former Kinloch Damph Ltd. trade and
assets and much of the employment and activity in the Kishorn
area has been retained."
He said banks view the salmon farming industry as high risk and
are unwilling to provide financing, resulting to consolidations
and takeover by multinationals.
Mr. Hunter added, "Happily, salmon prices have improved
considerably this year following European price safeguard
measures -- good for anyone surviving the last few years'
difficulties, but too late for some businesses and their
creditors."
Kinloch Damph went into administration in 2004 after failing to
pay a GBP5 million debt to Bank of Scotland.
CONTACT: CAMPBELL DALLAS
Sherwood House
7 Glasgow Road
Paisley PA1 3QS
Phone: 0141 887 4141
Fax: 0141 887 1103
E-mail: psly@camdal.com
Web site: http://www.camdal.com
David Kelso Hunter
E-mail: david@camdal.com
KUSHTI LIMITED: Administrator from Kallis & Co. Moves in
--------------------------------------------------------
Name: KUSHTI LIMITED
(Company No 03919648)
Trading Name: The Highgate
Nature of Business: Pub Management
Registered Office of Company: The Highgate, Unit 502, Highgate
Studios, 53-79 Highgate Road, London NW5 1TL
Date of Appointment: 8 August 2005
Administrator's Name and Address: Elizabeth Arakapiotis (IP No
009209), Kallis & Co., Mountview Court, 1148 High Road,
Whetstone, London N20 0RA
CONTACT: KALLIS & CO.
Mountview Court
1148 High Road
Whetstone
London N20 0RA
Phone: 020 8446 6699
Fax: 020 8492 6099
LINTON NO. 1: Names KPMG Liquidator
-----------------------------------
In accordance with section 381A of the Companies Act 1985, the
following written Resolutions are passed on 1 August 2005, as if
they had been proposed at a General Meeting of Linton No. 1
Limited, Upwood No. 1 Limited, and Kuwsel Limited as a Special
Resolution and as an Ordinary Resolution respectively:
"That the Companies be wound up voluntarily, and that Jeremy
Simon Spratt and Finbarr Thomas O'Connell, of KPMG LLP, 8
Salisbury Square, London EC4Y 8BB, be and are hereby appointed
Joint Liquidators for the purpose of such winding-ups and that
any power conferred on them by the Companies, or by law, be
exercisable by them jointly, or by either of them alone."
Member of the Company
CONTACT: KPMG LLP
PO Box 695,
8 Salisbury Square,
London EC4Y 8BB
Phone: (020) 7311 1000
Fax: (020) 7311 3311
Web site: http://www.kpmg.co.uk
MG ROVER: Accounting Watchdog to Look into Deloitte's Work
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Another regulatory body has reportedly launched an investigation
into MG Rover's crisis, this time involving Deloitte & Touche
LLP's auditing of the carmaker. This is separate from the
Department of Trade and Industry's inquiry into the company's
collapse.
According to The Times, the Accountancy Investigation &
Discipline Board will look into the 2003 accounts of MG Rover and
parent company Phoenix Venture Holdings. The probe is said to be
focused on tax avoidance and service fees paid to Deloitte.
The accounting firm reportedly received GBP4 million from MG
Rover in 2002, which included audit fees of GBP500,000. Deloitte
was rehired the following year, dropping MG Rover's obligation to
call in new auditors every year.
Deloitte is facing charges in Italy over its role as auditor of
collapsed dairy group Parmalat. It is said to have kept the
company's problems from investors. It has also been fined US$50
million by U.S. Securities and Exchange Commission over its
auditing of bankrupt cable firm Adelphia.
Deloitte, however, is not the only one being investigated, as
PricewaterhouseCoopers faces a similar investigation for its work
for collapsed engineering group Mayflower. Ernst & Young has
been fighting a negligence claim from Equitable Life, while KPMG
faces a GBP300 million lawsuit for alleged negligence over the
audit of Independent Insurance.
CONTACT: MG ROVER GROUP LIMITED
Longbridge, Bickenhill
Birmingham
B31 2TB, United Kingdom
Phone: +44-121-475-2101
Fax: +44-121-482-2403
Web site: http://www1.mg-rover.com
DELOITTE & TOUCHE LLP
Queen Anne House, 69-71 Queen Square
BRISTOL, BS1 4JP
Phone: 0117 921 1622
Fax: 0117 929 2801
Web site: http://www.deloitte.co.uk\
PRIESTS OF CHESHAM: Hires Administrators from Portland Business
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me: PRIESTS OF CHESHAM LIMITED
(Company No 735778)
Nature of Business: Car Dealers
Trade Classification: 5010
Date of Appointment: 2 August 2005
Joint Administrators' Names and Address: James Richard Tickell
and Carl Derek Faulds (IP Nos 008125 and 008767), both of
Portland Business & Financial Solutions Ltd., 1640 Parkway,
Solent Business Park, Whiteley, Fareham, Hampshire PO15 7AH
* * *
The company has been the top European dealer of MG Rover cars.
Visit http://www.priests.co.uk/for more information.
CONTACT: PRIESTS OF CHESHAM LTD
59 Latimer Road,
Chesham, Buckinghamshire HP5 1QQ
Phone: 01494775559
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
STURT NO. 1: Passes Winding-up Resolutions
------------------------------------------
In accordance with section 381A of the Companies Act 1985, the
following written Resolutions are passed on 28 July 2005, as if
they had been proposed at a General Meeting of Sturt No. 1
Limited, Sturt No. 2 Limited, UKF Building Services Limited, and
Rodocanachi Leasing Limited, as a Special Resolution and as an
Ordinary Resolution respectively:
"That the Companies be wound up voluntarily, and that Jeremy
Simon Spratt and Finbarr Thomas O'Connell, of KPMG LLP, 8
Salisbury Square, London EC4Y 8BB, be and are hereby appointed
Joint Liquidators for the purpose of such winding-ups and that
any power conferred on them by the Companies, or by law, be
exercisable by them jointly, or by either of them alone."
Member of the Company
CONTACT: KPMG LLP
PO Box 695,
8 Salisbury Square,
London EC4Y 8BB
Phone: (020) 7311 1000
Fax: (020) 7311 3311
Web site: http://www.kpmg.co.uk
TUNNEL SERVICES: Appoints Joint Liquidators
-------------------------------------------
We, the undersigned, being the Members of Tunnel Services Limited
for the time being having a right to attend and vote at General
Meetings, hereby pass the following Resolutions in accordance
with section 381A of the Companies Act 1985, as inserted by
section 113 of the Companies Act 1989, as a Special Resolution
and as an Ordinary Resolution respectively:
"That the Company be wound up voluntarily, and that J R D Smith
and N J Dargan, of Athene Place, 66 Shoe Lane, London EC4A 3WA,
be and are hereby appointed Joint Liquidators of the Company."
O. C. S. Group Limited and Onet (UK) Limited, Shareholders
URANIA SECURITIES: Creditors to Meet Next Week
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Notice is hereby given by Andrew Andronikou and Ladislav Hornan,
of UHY Hacker Young, St Alphage House, 2 Fore Street, London EC2Y
5DH, that a Meeting of the Creditors of Urania Securities Limited
(Company No 01027495), c/o UHY Hacker Young, St Alphage House, 2
Fore Street, London EC2Y 5DH, is to be held at the office of UHY
Hacker Young, St Alphage House, 2 Fore Street, London EC2Y 5DH,
on 25 August 2005, at 2:00 p.m. The Meeting is an initial
Creditors' Meeting under paragraph 51 of Schedule B1 to the
Insolvency Act 1986. A proxy form should be completed and
returned to me by the date of the Meeting if you cannot attend
and wish to be represented. In order to be entitled to vote
under Rule 2.38 at the Meeting you must give to me, not later
than 12:00 noon on the business day before the day fixed for the
Meeting, details in writing of your claim.
A. Andronikou, Joint Administrator
CONTACT: UHY HACKER YOUNG
St Alphage House,
2 Fore Street, London EC2Y 5DH
Phone: 020 7216 4600
Fax: 020 7638 2159
Web site: http://www.uhy-uk.com
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter -- Europe is a daily newsletter
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Julybien Atadero and Jay Malaga, Editors.
Copyright 2005. All rights reserved. ISSN 1529-2754.
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