/raid1/www/Hosts/bankrupt/TCREUR

/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 ---------------------------------------------------------- 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 ---------------------------------------------------------------Na 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 ---------------------------------------------- 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 ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe, Julybien Atadero and Jay Malaga, Editors. Copyright 2005. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. The TCR Europe subscription rate is US$575 per half-year, delivered via e-mail. Additional e-mail subscriptions for members of the same firm for the term of the initial subscription or balance thereof are US$25 each. For subscription information, contact Christopher Beard at 240/629-3300. * * * End of Transmission * * *