TCREUR_Public/050823.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Tuesday, August 23, 2005, Vol. 6, No. 166

                            Headlines

G E R M A N Y

AGFAPHOTO GMBH: Cash Crunch Ahead, Warns Paper
AULICH & RENNECKE: Arnsberg Company Goes Bust
AUTOHAUS SPINGAT: Court to Verify Claims December
BLOW FILM: First Creditors Meeting Set Next Week
BRIEFFREUND GESELLSCHAFT: Under Bankruptcy Administration

CELANESE AG: Major Shareholder Ups Stake to More than 95%
DAIMLERCHRYSLER AG: 'Worm' Attacks 13 U.S. Sites
DORINT AG: Asks Shareholders to Shell out Fresh Capital
FERDINAND BURDICK: Creditors Meeting Set October
GPR SOFTWARE: Court Appoints Stephan Michels Administrator

I.M.A.S. GESELLSCHAFT: Creditors to Meet Next Month
TOUR-RETOUR: Bochum Firm Succumbs to Bankruptcy
TRANENPALAST VERANSTALTUNGS: Creditors' Claims Due October
VEREIN ZUM: Applies for Bankruptcy Proceedings
ZIM-LOG: Declares Bankruptcy


H U N G A R Y

NABI RT: Posts US$11.2 Million First-half Net Loss


I T A L Y

TORINO F.C.: To Play in Serie B Under New Coach, Owner


K A Z A K H S T A N

OJSC KAZAKHTELECOM: Rating Upped to 'BB'; Outlook Stable


P O L A N D

CENTRAL EUROPEAN: Completes Strategic Alliance with Remy
CENTRAL EUROPEAN: Seals Acquisition of Imperial


R U S S I A

BELGA: Insolvency Manager Enters Firm
KAMENSK-URASLKIY: Creditors Have Until Today to File Claims
KERAMZITE GRAVEL: Succumbs to Bankruptcy
KHAADI-OIL: Public Auction Set Today
KOLOCHENEVSKAYA: Proofs of Claim Deadline Expires Today

MINUSINSK-STROY: Declared Insolvent
OAO GAZPROM: Fitch Takes Closer Look at Sibneft Acquisition
ORENBURG-STROY-MATERIALS-CERAMICS: Public Auction Set Wednesday
SHATOVSKOYE: Bankruptcy Hearing Set November
SHOK: Bankruptcy Supervision Procedure Begins

SPETS-ENERGO-SERVICE: Declared Insolvent
YUKOS OIL: Dutch Court to Rule on Western Bank's Lawsuit Sept.
YUKOS OIL: PKN Orlen Eyes Lithuanian Asset
YUKOS OIL: Reports Significant Reduction in First-half Losses


T U R K E Y

ANADOLUBANK: Ratings Upped to 'B+' on Improved Profitability
ARAB TURKISH: Fitch Affirms 'B' Ratings
TURKCELL ILETISIM: Redeems US$400 Mln 12.75% Senior Cellco Notes


U K R A I N E

ADLER: Insolvency Manager Takes over Operations
AK ALFA: Bankruptcy Supervision Begins
ATMANAJ: Insolvency Manager to Temporarily Run Business
AVAL-SERVICE-D: Applies for Bankruptcy Proceedings
BUDZHITLOSERVICE: Undergoes Sanction Procedure

INEKO: Dnipropetrovsk Court Appoints Insolvency Manager
KRISTINA: Declared Insolvent
PEREMOGA: Under Bankruptcy Supervision
PROMBUD-3: Succumbs to Bankruptcy
PROMETEJ: Insolvency Manager Takes over Firm


U N I T E D   K I N G D O M

AMADEUS FISHING: Appoints PricewaterhouseCoopers Receiver
AMISTOSO LIMITED: Internet Consultancy Firm Liquidates
APEX CONSERVATORIES: Winding-up Application Approved
ARC GALLERY: Owners Decide to Wind up Business
A & R MARSHALL: Files for Liquidation

AUGMENTIS I.T.: Runs out of Money
AUTOCUE LIMITED: Joint Receivers' Report Out September 12
BURGESS ENGINEERING: Hires Administrators from BDO Stoy Hayward
CABLE & WIRELESS: S&P Hails Energis Purchase
C & F FURNITURE: Court Issues Winding-up Order

COLLINS & AIKMAN: U.K. Receiver Sets Bids Deadline September 7
COUNTY HOME: Files for Liquidation
CUDDLES LIMITED: Files for Liquidation
DELCO (TOOLMAKERS): Appoints Liquidator
DETECH ENVIRONMENTAL: Calls in Administrators

DEVA FACILITIES: Administrators from Kroll Limited Enter Firm
E.J.S. & SON: Court Sanctions Liquidation
ELGAR HOTEL: Collapses into Liquidation
EURAMAX HOLDINGS: Moody's Reviews Ratings for Possible Downgrade
FICTITIOUS EGG: Animation Company Opts for Liquidation

FUR HAIRDRESSING: Court Okays Liquidation
GROVEGRAY LIMITED: Calls in Liquidator
HARLOW PRESSINGS: Administrators from Vantis Redhead Enter Firm
HIT ENTERTAINMENT: Moody's Rates US$172 Mln 2nd-Lien Loan B2
INDICII SALUS: Administrators Take over Business

JACOBS LADDER: Falls into Liquidation
J BARKER ELECTRICAL: EGM Passes Winding-up Resolutions
JGE SERVICES: Appoints Administrators from Hart Shaw
J. & M. ATTWOOD: Appoints BDO Stoy Liquidator
J R PURSER: Files for Liquidation

JOMARO LIMITED: Owners Call in Liquidators
KAVANAH CONSTRUCTION: Names David Rubin Liquidator
LAPTOP SOLUTIONS: EGM Passes Winding-up Resolution
LEAPS & BOUNDS: Appoints Tenon Recovery Liquidator
L PACE CARPENTRY: Succumbs to Liquidation

LYNX DIGITALL: Calls in Administrators from Hurst Morrison
MATRIX 5: Applies for Winding-up Order
MGC CADMAN: Creditors Meeting Set Friday
NEW WORLD: Files for Liquidation
NORTH FACE: Calls in Liquidator

OAKMARKET LIMITED: Creditors Meeting Set Friday
PREMIER PURCHASE: Members Decide to Liquidate Firm
PROFILE MEDIA: Sets EGM October 3
RAIDERS LIMITED: Meeting of Creditors Set Next Week
RED LETTER: New Owners Win Back Debenhams' Support

RIDGEWOOD SHIPPING: Calls in Liquidator from Moore Stephens
SHEAFFIELD BUILDING: Winding-up Receives Green Light
SHOW PRESENTATION: Administrators from BDO Stoy Hayward Move in
SPARK ELECTRICAL: Calls in Liquidator
SPRINGWELL CAR: Files for Winding-up

STAPLE TYE: Hires Begbies Traynor Administrator
STEAD MCALPIN: Axing 62 Workers, But Not Closing
THAMES OFFICE: Members Call in Liquidator
THEQSSITE.CO.UK. LTD.: In Liquidation
T J WEBB: Winding-up Gets Court Approval

TORUS SOFTWARE: Meeting of Creditors Set Today
TRANSPLAN DEVELOPMENTS: Calls in Baker Tilly Administrator
TRINITY RYMAT: Administrators Take over Operation
TUSCAN ENERGY: Appoints Joint Receivers
VERTEC LIMITED: Administrators from Leonard Curtis Move in

VICTORIA FORGE: Admits Insolvency; Sends Home 30 Workers
XERIDYNE LIMITED: Manufacturer Hires Administrator
XEROX CAPITAL: Fitch Upgrades Ratings of Parent

* Large Companies with Insolvent Balance Sheets


                            *********


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


AGFAPHOTO GMBH: Cash Crunch Ahead, Warns Paper
----------------------------------------------
AgfaPhoto GmbH faces a EUR10 million bill within the next three
to four months, according to Suddeutsche Zeitung.

Owed to former Belgian parent Agfa Gevaert, the sum represents
pre-financing credit for its operative business, the paper said.
It is not known if Gevaert intends to collect the money, as it
is keen on seeing the former subsidiary come out of insolvency.
Recently, it promised to provide money to enable a company to be
set up to accommodate redundant AgfaPhoto employees.

Insolvency administrator Andreas Ringstmeier vows to keep the
company operating.  Spun-off last year, AgfaPhoto manufactures
photographic film, papers, chemicals and disposable cameras; and
also offers online print service, on-site processing, kiosk
systems and wholesale finishing.  It filed for insolvency at the
district court of Cologne in May, blaming the growing popularity
of digital photography, although suspicions that management may
have engaged in financial fraud have emerged recently.

AgfaPhoto is headquartered in Leverkusen.  It has 32
subsidiaries outside Germany that are not included in the
insolvency proceedings.  The company owes money to suppliers and
pension security body Pensionssicherungsverein.

CONTACT:  AGFAPHOTO GERMANY GMBH
          Im Mediapark 5
          D-50670 Cologne
          Phone: +49 221 98544-3723
          Fax: +49 221 98544-3805
          Web site: http://www.agfaphoto.com

          AGFA-GEVAERT N.V.
          Septestraat 27
          B-2640 Mortsel
          Belgium
          Phone: +32 3 444 2111
          Fax: +32 3 444 7094
          Web site: http://www.agfa.com


AULICH & RENNECKE: Arnsberg Company Goes Bust
---------------------------------------------
The district court of Arnsberg opened bankruptcy proceedings
against Aulich & Rennecke Glasgrosshandlung GmbH & Co. KG on
August 1.  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 Wilfried Pohle.

Creditors and other interested parties are encouraged to attend
the meeting on October 21, 2005, 9:50 a.m. at the district court
of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, at
which time the administrator will present his first report of
the insolvency proceedings.  The court will also verify the
claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  AULICH & RENNECKE GLASGROSSHANDLUNG GmbH & Co. KG
          Alte Heeresstr. 19, 59929 Brilon

          Wilfried Pohle, Administrator
          Bahnstr 1, 34431 Marsberg
          Phone: 02992-973716
          Fax: 02992-973771


AUTOHAUS SPINGAT: Court to Verify Claims December
-------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Autohaus Spingat GmbH on July 26.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until October 28,
2005 to register their claims with court-appointed provisional
administrator Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 10:45 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, 10:30 a.m. at the same venue.

CONTACT:  AUTOHAUS SPINGAT GmbH
          Nachtalbenweg 61,13088 Berlin

          Dr. Dirk Wittkowski, Administrator
          Kirchblick 11, 14129 Berlin


BLOW FILM: First Creditors Meeting Set Next Week
------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Blow Film GmbH on August 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until November 1, 2005 to
register their claims with court-appointed provisional
administrator Sebastian Laboga.

Creditors and other interested parties are encouraged to attend
the meeting on August 30, 2005, 9:45 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 20, 2005, 9:30 a.m. at the same venue.

CONTACT:  BLOW FILM GmbH
          Kastanienallee 79,10435 Berlin

          Sebastian Laboga, Administrator
          Einemstr. 24, 10785 Berlin


BRIEFFREUND GESELLSCHAFT: Under Bankruptcy Administration
---------------------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against Brieffreund Gesellschaft fuer Postdienstleistungen mbH
on August 3, 2005.  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 Hans Peter Runkel.

Creditors and other interested parties are encouraged to attend
the meeting on September 9, 2005, 10:20 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
September 23, 2005, 9:30 a.m. at the same venue.

CONTACT:  BRIEFFREUND GESELLSCHAFT
          FUER POSTDIENSTLEISTUNGEN mbH
          Am Bruch 21-23, 42857 Remscheid
          Contact:
          Frank Siegmann, Manager
          Hauptstr. 16, 42651 Solingen

          Hans Peter Runkel, Administrator
          Friedrich-Ebert-Strasse 146, 42117 Wuppertal
          Phone: 0202/30 20 71
          Fax: 0202/31 47 08


CELANESE AG: Major Shareholder Ups Stake to More than 95%
---------------------------------------------------------
Celanese AG was informed that the main shareholder Celanese
Europe Holding GmbH & Co. KG has reached an agreement with
Paulson & Co. Inc. and Arnhold and S. Bleichroeder Advisers LLC
on the purchase of the shares in Celanese AG managed by the
funds for a price of EUR51.00 per non-par value share of
Celanese AG and an additional purchase price of EUR2 per share
as settlement consideration.

Upon consummation of the agreement, Celanese Europe Holding GmbH
& Co. KG will hold more than 95% of the voting rights in the
general meeting of Celanese AG.  At the same time, Celanese
Europe Holding GmbH & Co. KG undertook vis-a-vis the funds,
subject to compliance with applicable law, to increase the
compensation of EUR41.92 per non-par value share of Celanese AG
set forth in the domination and profit and loss transfer
agreement dated June 22, 2004 by EUR9.08 to EUR51.00 for all
outside shareholders who waive their right to conduct special
award proceedings (Spruchverfahren) and their right to the
result of such proceedings by September 29, 2005.  Celanese
Europe Holding GmbH & Co. KG will publish further details of the
improved compensation offer in an appropriate way.

                            *   *   *

Celanese AG is a global chemicals company with leading positions
in its key products and world-class process technology.  The
Celanese portfolio consists of four main businesses: Chemical
Products, Acetate Products, Technical Polymers Ticona and
Performance Products.  Celanese generated sales of around EUR4.1
billion in 2003 and has about 9,500 employees.  The company has
24 production plants and six research centers in 10 countries
mainly in North America, Europe and Asia.  It reported a second
quarter operating profit of EUR54 million compared to EUR109
million in the same period last year, which included EUR90
million of insurance recoveries related to the previously
disclosed plumbing litigation cases.  In the second quarter 2004
report, the company said it had a net loss for the period of
EUR91 million, or EUR1.85 per share, compared to net earnings of
EUR96 million, or EUR1.95 per share, in the same period last
year.

CONTACT:  CELANESE AG
          Frankfurter Str. 111
          61476 Kronberg im Taunus
          Deutschland
          Phone: +49 69 305 16000
          Fax: +49 69 305 16006
          Web site: http://www.celanese.com


DAIMLERCHRYSLER AG: 'Worm' Attacks 13 U.S. Sites
------------------------------------------------
Production at 13 of DaimlerChrysler AG's U.S. sites was stopped
last week due to a computer worm, said the Associated Press.

The damage, however, was only minimal, according to the company.
It is expected to make up for the lost output as soon as
possible.

The company's Windows 2000 operating systems were attacked by
the "worm" reportedly released by hackers, affecting Internet
connections and blocking e-mails.  According to the wire, a
computer worm is a self-replicating computer program, similar to
a computer virus.  A virus attaches itself to, and becomes part
of, another executable program; however, a worm is self-
contained and does not need to be part of another program to
propagate itself.  They are often designed to exploit the file
transmission capabilities found on many computers.

The "worm" disrupted for five to 50 minutes Chrysler operations
in Michigan, Illinois, Indiana, Wisconsin, Ohio, Delaware and
Missouri, said company spokesman David Elshoff said, adding
technology staff have already solved the problem.

"I think we're coming out of the woods now.  We certainly have
been on top of the situation since Tuesday.  Computer security
in this day and age is really, really critical to big
companies," he said.

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


DORINT AG: Asks Shareholders to Shell out Fresh Capital
-------------------------------------------------------
Loss-making hotel group Dorint is proposing a capital increase
to replenish its equity and avoid over-indebtedness, Suddeutsche
Zeitung says.

The group urged shareholders to approve the issuance of new
shares to raise EUR35 million in fresh capital.  Dorint admitted
recently it had already used up shareholders' equity due to
losses in the past three years amounting to EUR110 million.
Already, it has suffered losses in the first half and the
outlook for the rest of the year looks bleak.

The proceeds will be partly used to end lease agreements with
three hotels showing weak earnings.  Management is also working
on tying up leases payments to turnover.

French hotel group Accor, which holds a 31% stake in Dorint, has
promised to participate in the capital hike while local fund
Herbert Ebertz, also a substantial shareholder, will provide
additional funding.

With more than 7,000 employees, Dorint is one of the leading
hotel chains in the world.  It operates 94 hotels with about
18,000 rooms across Europe.

CONTACT:  DORINT AG
          Niederkasseler Lohweg 189
          40547 Duesseldorf
          Phone: +49 (0) 211 / 50 666-156
          Fax: +49 (0) 211 / 50 666-100
          E-mail: investor-relations@dorint.com
          Web site: http://www.dorint.de


FERDINAND BURDICK: Creditors Meeting Set October
------------------------------------------------
The district court of Arnsberg opened bankruptcy proceedings
against Ferdinand Burdick GbR 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
Wilfried Pohle.

Creditors and other interested parties are encouraged to attend
the meeting on October 21, 2005, 9:15 a.m. at the district court
of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, at
which time the administrator will present his first report of
the insolvency proceedings.  The court will also verify the
claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  FERDINAND BURDICK GbR
          Duetlingstalweg 10, 34431 Marsberg

          Wilfried Pohle, Administrator
          Bahnstr 1, 34431 Marsberg
          Phone: 02992-973716
          Fax: 02992-973771


GPR SOFTWARE: Court Appoints Stephan Michels Administrator
----------------------------------------------------------
The district court of Muenster opened bankruptcy proceedings
against GPR Software GmbH on August 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until September 5, 2005 to register
their claims with court-appointed provisional administrator
Stephan Michels.

Creditors and other interested parties are encouraged to attend
the meeting on September 26, 2005, 10:15 a.m. at the district
court of Muenster, Gebaudeteil Eingang B, Gerichtsstrasse 2 - 6,
48149 Muenster, EG, Saal 13 B, at which time the administrator
will present his first report of the insolvency proceedings.
The court will also verify the claims set out in the
administrator's report during this meeting, while creditors may
constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  GPR SOFTWARE GmbH
          Holtenweg 35, 48155 Muenster
          Contact:
          Josef Nordhoff, Manager
          Anton-Aulke-Strasse 14, 48167 Muenster

          Stephan Michels, Administrator
          von-Vincke-Strasse 2, 48143 Muenster
          Phone: 0251/41430-0
          Fax: +492514143010


I.M.A.S. GESELLSCHAFT: Creditors to Meet Next Month
---------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against I.M.A.S. Gesellschaft fuer die Vermittlung
von Immobilien, Kapitalanlagen, Bausparen und Versicherungen mbH
on July 22.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
October 28, 2005 to register their claims with court-appointed
provisional administrator Thomas Kuehn.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 10:50 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 21, 2005, 10:35 a.m. at the same venue.

CONTACT:  I.M.A.S. GESELLSCHAFT FUER DIE VERMITTLUNG
          VON IMMOBILIEN, KAPITALANLAGEN, BAUSPAREN
          UND VERSICHERUNGEN mbH
          Sachsendamm 6,10829 Berlin

          Thomas Kuehn, Administrator
          Luetzowstr. 100, 10785 Berlin


TOUR-RETOUR: Bochum Firm Succumbs to Bankruptcy
-----------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against tour-retour Reisen & Service GmbH on August 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until September 15,
2005 to register their claims with court-appointed provisional
administrator Moritz Hansberg.

Creditors and other interested parties are encouraged to attend
the meeting on October 27, 2005, 10:20 a.m. at the district
court of Bochum, Hauptstelle, Viktoriastrasse 14, 44787 Bochum,
Erdgeschoss, Saal A29, 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:  TOUR-RETOUR REISEN & SERVICE GmbH
          Hattinger Str. 223, 44795 Bochum
          Contact:
          Jochem Bernhardt, Manager
          Mittelkamp 3, 45711 Waltrop

          Moritz Hansberg, Administrator
          Huestrasse 34, 44787 Bochum
          Phone: 0234 - 964 91-0
          Fax: 0234 - 964 91-33


TRANENPALAST VERANSTALTUNGS: Creditors' Claims Due October
----------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Tranenpalast Veranstaltungs-GmbH on August
1.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until October
26, 2005 to register their claims with court-appointed
provisional administrator Ruediger Wienberg.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 9:25 a.m. at the district
court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II.
Stock Saal 218, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report December
21, 2005, 9:30 a.m. at the same venue.

CONTACT:  TRANENPALAST VERANSTALTUNGS-GmbH
          Reichstagufer 17,10117 Berlin

          Ruediger Wienberg, Administrator
          Giesebrechtstr. 1, 10629 Berlin


VEREIN ZUM: Applies for Bankruptcy Proceedings
----------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Verein zum Schutz junger Muetter -
LebensNetz e. V. on August 1.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 26, 2005 to register their claims
with court-appointed provisional administrator Dr. Christoph
Schulte Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting on September 14, 2005, 9:55 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 21, 2005, 9:35 a.m. at the same venue.

CONTACT:  VEREIN ZUM SCHUTZ JUNGER
          MUETTER - LEBENSNETZ e.V.
          Anna-Ebermann-Str. 26, 13053 Berlin

          Dr. Christoph Schulte-Kaubruegger, Administrator
          Genthiner Str. 48, 10785 Berlin


ZIM-LOG: Declares Bankruptcy
----------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against ZIM-LOG Speditionsgesellschaft mbH on July
28.  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 Joachim Voigt-Salus.

Creditors and other interested parties are encouraged to attend
the meeting on September 19, 2005, 9:10 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, 9:20 a.m. at the same venue.

CONTACT:  ZIM-LOG SPEDITIONSGESELLSCHAFT mbH
          Wildganssteig 109, 13503 Berlin

          Joachim Voigt-Salus, Administrator
          Rankestrasse 33, 10789 Berlin


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


NABI RT: Posts US$11.2 Million First-half Net Loss
--------------------------------------------------
During the first half of 2005, the NABI Group took significant
steps toward restructuring its operations and financing.  On May
26, NABI signed an agreement with its financiers regarding the
restructuring of approximately US$103 million of short-term debt
and other banking facilities.  Under the agreement, the
financiers have agreed to reduce their debt to US$60 million,
with a portion of such reduction converted to equity through
acquiring 90 percent equity interest in NABI Inc. and up to 33
percent equity interest in NABI Rt.  The remaining debt will be
classified as long-term with maturities ranging from 5 to 8
years.

As disclosed in NABI's first quarter 2005 flash report, the
equity of NABI Rt. in 2004 declined to a level below two-thirds
of its registered capital, which required a mandatory capital
reduction according to the relevant Hungarian laws and
regulations.  The continued AGM, held on May 27, approved the
Board of Directors' proposal to reduce registered capital by
HUF4,106,644,800 to HUF517,955,200 without changing the number
of shares (by reducing the nominal value of the shares from
HUF1000 to HUF112).  The AGM also elected a new Board of
Directors and Supervisory Board and approved a number of
important resolutions concerning amendments to the Articles of
Associations and the capital increase necessary for the debt-
equity conversion (these resolutions were released on May 27,
2005).

Earlier announcements regarding the restructuring of NABI's
operations contained references to the Company's intentions to
focus on core business segments and activities.  In line with
this strategy, operations at NABI's Kaposvar facility were
suspended in July for an indefinite time.

Also, on July 28, NABI completed an agreement to sell its U.K.
subsidiary Optare Holdings, Ltd. for a total consideration of
GBP11.8 million (refer to item 7.1. Changes after the period).
In the first half of 2005, the NABI Group sold 559 vehicles
compared to the 586 vehicles sold in the same period of 2004.
Vehicle sales revenue was US$145.4 million or 79.7% of total
revenue in the period, compared to US$155.2 million achieved in
the first half of 2004.

In the U.S., the Company delivered the first 30 units of its
revolutionary 60-BRT model to the Los Angeles County
Metropolitan Transportation Authority (LACMTA), the remainder of
the base order for 200 buses will follow during 2005 and early
2006.

Optare continued to grow its market share of the heavy-duty bus
market in the U.K. and ended the quarter with a record order
book for its range of buses.

During the period, Miami-Dade Transit exercised its option for
115 Model 40-LFW transit buses resulting in a significant order
for NABI.  This Lot 8 will be delivered in three phases -- the
first phase buses to be delivered in late 2005, with the
remaining two phases of Lot 8 to be delivered in 2006.  Two
additional orders for 70 40-LFW and 10 60-BRT CNG-fueled transit
buses were received in July (after the period) from Foothill
Transit, California and Mesa's Regional Public Transportation
Authority, Arizona representing a total contract value of US$33
million.

US$36.7 million consolidated sales of aftermarket parts and
services were achieved in the first half of 2005, an increase of
23.9 percent over the US$29.6 million achieved in the same
period of 2004.

Gross profit for the first half of 2005 was US$15.7 million
(before making a special campaign warranty provision of US$3
million) showed a significant improvement from US$13.0 million
achieved in the same period of 2004.

Before charging restructuring expenses, SGA costs fell to
US$16.7 million compared to US$17.6 million in 2004, and the
operating loss reduced to US$4.0 million for the first 6 months
of 2005 from US$5.0 million in 2004.  After restructuring
expenses of US$5 million, the operating loss increased to US$9.0
million compared with US$6.4 million in the same period of
2004.

The Group reported a net loss of US$11.2 million for the six
months ended June 30, 2005 compared to a net loss of US$4.3
million in the same period of 2004.  Cash and cash equivalents
decreased by US$8.0 million to US$16.0 million compared to their
balance as of December 31, 2004.  The decline in cash was
somewhat offset by an inventory reduction of US$12.0 million;
however, payments to suppliers -- which resulted in a decrease
of accounts payable by 12.9 percent since December 31, 2004,
from US$76.6million to US$66.7 million -- reduced cash and cash
equivalents.

Although in previous years, NABI's quarterly financial
statements were prepared in accordance with U.S. GAAP, pursuant
to requirements under Hungarian law, the financial statements in
this report are prepared in accordance with International
Financial Reporting Standards (IFRSs).

Reconciliations of all material differences arising from the
conversion of the statements from U.S. GAAP to IFRSs are
included in this report.

This interim report contains information about the performance
of the NABI Rt. (NABI, the Company, or the Group), and its 100
percent-owned subsidiaries "NABI Inc." and "Optare Holdings
LTD.",  during the first half ended June 30, 2005.

Declaration

The financial information contained in this flash report is
based upon IFRSs and contains data and statements regarding the
reporting period that are correct and reflect the true situation
the best knowledge of the management.  All facts known to date
that may have a significant bearing on the position of the Group
and known to management have been included in this report.
Forecasted future events can be influenced by unforeseeable
risks.

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

CONTACT:  NABI RT. (Machinery)
          Ujszasz utca 45, Budapest 1165 Hungary
          Phone: +36.1.401.7100
          Fax: +36.1.407.2931
          Contact:
          J. Daniel Garrett Group Chief Financial Officer
          Andras Racz, Chief Executive Officer
          A. Bodor Corporate Affairs Officer
          E-mail: corporate.office@nabi.hu


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


TORINO F.C.: To Play in Serie B Under New Coach, Owner
------------------------------------------------------
Bankrupt Torino Football Club will reportedly be playing again
in Serie B with a new squad led by patron Urbano Cairo and Coach
Gianni De Biasi.

This came after the club was declared financially unstable and
was dropped from the top division (Serie A).  Under the Lodo
Petrucci ruling, a team disqualified from the championship can
start again a flight lower with new ownership, said Football
Italia.

The paper added that all players are now free agents and the new
owners must form a new team from scratch.  This is where 48-
year-old entrepreneur Urbano Cairo will come in.  Mr. Cairo, who
is into advertising and publishing, was expected to finish the
takeover over the weekend from Pierluigi Marengo and Sergio
Rodda.

Mr. Marengo said: "Along with many friends, we were able to
rescue the history that the previous owners had destroyed and
wiped out.  From the first day we said we'd only be here as
helpers so that the name of Torino would carry on in the
football world and be given to businessmen capable of creating a
squad that could push for Serie A."

Mr. Cairo reportedly intends to serve as President of the club,
while he eyes ex-Brescia boss Gianni De Biasi to handle the
coaching task.

Earlier, the football club requested for the rescheduling of
their campaign entry, while some of its players signed with
other teams.  This will allow the club to set up a 20-man squad
before the series starts later this month.  This year, Torino
was promoted to Serie A after placing 3rd in Serie B.  However,
Italian football authority FIGC expelled Torino from the top
division due to financial problems.

CONTACT:  TORINO FOOTBALL CLUB
          Web site: http://www.toro.it


===================
K A Z A K H S T A N
===================


OJSC KAZAKHTELECOM: Rating Upped to 'BB'; Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
corporate credit rating on OJSC Kazakhtelecom, the incumbent
fixed-line telecommunications operator in the Republic of
Kazakhstan, to 'BB' from 'BB-', reflecting the company's
improving performance.  The outlook is stable.

"The upgrade reflects KTC's improving business position, with
continuing dominant market shares in key segments; its
considerably improved network quality and capabilities; and
positive economic dynamics in Kazakhstan," said Standard &
Poor's credit analyst Lorenzo Sliusarev.  "The rating action
also reflects KTC's strengthened financial profile."

The rating remains constrained by the evolving market structure
and changing regulatory environment in the Kazakh telecoms
sector, the ongoing liberalization of long-distance services,
and increasing competition.  KTC's continuing network
investments and its sizeable dividend payouts--combined with
plans to establish its own mobile franchise--limit the
prospective strength and flexibility of its financial profile.

"Standard & Poor's expects that KTC's improved business profile-
-including the competitive advantage of owning a modern
nationwide fiber-optic network--and manageable exposure to
financial risk provide the company with the means to manage
through the ongoing market and regulatory restructuring and
increasing competition," added Mr. Sliusarev.

We expect KTC's potential investment into establishing its own
mobile franchise to be managed in a prudent manner without
causing a significant deterioration of credit metrics. The
company would therefore need to finance any large strategic
investments through a combination of additional borrowings and
liquidation of marketable nonstrategic assets and investments.
The maintenance of a manageable dividend policy and adequate
liquidity profile will remain important for KTC's credit
quality.

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

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


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


CENTRAL EUROPEAN: Completes Strategic Alliance with Remy
--------------------------------------------------------
Central European Distribution Corporation said Tuesday it has
completed its acquisition of Botapol Holding B.V., which owns
100% of the outstanding shares of Bols Sp. z o.o.  The purchase
price consists of 3,382,838 shares of common stock of CEDC with
a value of approximately US$122.5 million (based on the US$36.22
valuation included in the purchase agreement) and US$147.5
million in cash. As a result of the transaction, each of the
sellers will own approximately 8.3% of CEDC's outstanding
shares.  The stock portion of the purchase price is subject to a
one-year lock-up period and is entitled to certain customary
demand and piggy-back registration rights after the end of the
lock-up period.  The cash portion of the purchase price was
taken from the proceeds of the Senior Secured Notes offering
that CEDC completed last month.

As part of the transaction, CEDC also entered into a strategic
alliance with Remy Cointreau in which CEDC has the exclusive
right to import and distribute Remy Cointreau's current import
portfolio in Poland and in which Dominique Heriard Dubreuil, the
chairman of the board of directors of Remy Cointreau, has been
appointed to the CEDC board.  Markus Sieger, a representative of
Takirra Investment Corp., has also been appointed to the CEDC
board as part of the transaction.

William Carey, President and CEO said, "We are excited about the
alliance with Remy Cointreau S.A. and look forward to further
developing the working relationship with Bols' management, to
realize the full potential of the brand opportunities that the
acquisition will give us.  The acquisition of Bols Sp. z o.o.
and the envisaged purchase of 61% of the outstanding stock of
Polmos Bialystok S.A. will give us a number of synergies in
production, as well as in distribution.  Further, we will become
one of the top five largest vodka producers in the world and
consequently the largest vodka producer in Poland by value.
Once we complete the Polmos Bialystok S.A. transaction, which is
still subject to Polish anti-monopoly approval, we will give
updated 2005 guidance, including the expected effect of the
synergies within the two distilleries and the effect of
production on our distribution network.  We anticipate obtaining
Polish anti-monopoly approval for Polmos Bialystok S.A. during
September 2005."

CEDC is the leading distributor by volume and a leading importer
by value of alcoholic beverages in Poland.  Following the
acquisition of Bols and the planned acquisition of Polmos
Bialystok, CEDC will become the largest vodka producer in Poland
by value.  CEDC operates 14 distribution centers and 86
satellite branches throughout Poland.  It distributes many of
the world's leading brands in Poland, including brands such as
Johnnie Walker Scotch, Stock Brandy, Sutter Home, Torres,
Mondavi and Concha y Toro wines, Corona, Foster's, Grolsch,
Budweiser Budvar and Guinness Stout beers.

                            *   *   *

As reported by TCR-Europe in July, Standard & Poor's Ratings
Services assigned its 'B' long-term corporate credit rating to
Central European Distribution Corporation, a leading distributor
of alcoholic beverages in Poland.  The outlook is stable.

At the same time, Standard & Poor's assigned its 'B-' long-term
debt rating to the proposed EUR310 million (US$373 million)
senior secured notes due 2012 to be issued by U.S.-based holding
company CEDC.  Proceeds from the notes will be used to fund the
cash portion of the acquisition of 100% of Bols, Poland's third-
largest vodka producer, and to partially fund the acquisition of
a 61% stake in Bialystok, Poland's second-largest vodka
producer.  The issue is guaranteed by certain of CEDC's
principal operating subsidiaries on a senior secured basis.  It
will, however, become structurally subordinated upon completion
of the pending acquisitions.

All ratings are subject to satisfactory final bond documentation
and to the successful completion of the proposed financing.

"The corporate credit rating reflects CEDC's acquisitive growth
strategy and forecast high leverage upon completion of at least
one of the two pending acquisitions," said Standard & Poor's
credit analyst Benedetta Rospigliosi.

It also reflects the group's participation in the highly
competitive and fragmented--but consolidating--Polish alcoholic-
beverage distribution industry; exposure to the mature vodka
market, given the group's limited geographic and product
diversity; the risk of losing distribution contracts; and the
challenges of integrating new businesses.

CONTACT:  CENTRAL EUROPEAN DISTRIBUTION CORPORATION
          Jim Archbold, Investor Relations Officer
          Phone: 610-660-7817


CENTRAL EUROPEAN: Seals Acquisition of Imperial
-----------------------------------------------
Central European Distribution Corporation has acquired 100% of
the shares of Imperial Sp. z o.o., an alcohol distributor in
northeast Poland, for a purchase price of approximately US$2.19
million, of which 79% will be paid in cash and 21% will be paid
in shares of common stock of CEDC.  CEDC has received anti-
monopoly approval for the transaction.  The shares of CEDC
common stock that will be issued as part of the purchase price
are subject to a one-year lock-up period.

William Carey, President and CEO of CEDC, said: "We are pleased
with this acquisition as it increases our distribution coverage
in the northeast of Poland where Polmos Bialystok S.A. is
located.  Imperial Sp. z o.o. has been in the alcohol
distribution business for over 10 years and brings a strong
management team and sales force to our group, as well as a
client base of over 1,000.  Imperial Sp. z o.o. had 2004 annual
net sales of approximately $20 million."

Mr. Carey continued: "As a result of this acquisition, we are
raising our 2005 full year net sales guidance from $700-$720
million to $705-$725 million and full year fully diluted
earnings per share guidance from $1.56-$1.66 to $1.57-$ 1.67.
With the acquisition of Imperial Sp. z o.o., we have acquired
distribution companies in 2005 with approximately $55 million in
annualized net sales.  We are anticipating acquiring additional
distribution companies with annualized net sales of $25-$45
million during the remainder of 2005.  We are also raising 2006
full year net sales guidance from $875-$900 million to $895-$
920 million and full year fully diluted earnings per share
guidance from $1.90-$ 2.10 to $1.92-$2.12."

CEDC is the leading distributor by volume and a leading importer
by value of alcoholic beverages in Poland.  Following the
planned acquisitions of Bols Sp. z o.o. and Polmos Bialystok
S.A., CEDC will become one of the largest vodka producers in
Poland.  CEDC operates 14 distribution centers and 86 satellite
branches throughout Poland.  It distributes many of the world's
leading brands in Poland, including brands such as Johnnie
Walker Scotch, Stock Brandy, Sutter Home, Torres, Mondavi and
Concha y Toro wines, Corona, Foster's, Grolsch, Budweiser Budvar
and Guinness Stout beers.

CONTACT:  CENTRAL EUROPEAN DISTRIBUTION CORPORATION
          Jim Archbold, Investor Relations Officer
          Phone: 610-660-7817


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


BELGA: Insolvency Manager Enters Firm
-------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Belga (TIN 5072702061) after finding the
close joint stock company insolvent.  The case is docketed as
A41-K2-18185/04.  Mr. S. Blinnik has been appointed insolvency
manager.  Creditors have until Sept. 23, 2005 to submit their
proofs of claim to 142455, Russia, Moscow region, Elektrougli,
Tsentralnaya Str. 110.

CONTACT:  BELGA
          140520, Russia, Moscow region, Lukhovitskiy region,
          Beloomut, B. Ogarevskaya Str. 14

          Mr. S. Blinnik
          Insolvency Manager
          142455, Russia, Moscow region, Elektrougli,
          Tsentralnaya Str. 110


KAMENSK-URASLKIY: Creditors Have Until Today to File Claims
-----------------------------------------------------------
The Arbitration Court of Sverdlovsk region has commenced
bankruptcy supervision procedure on open joint stock company
Kamensk-Uraslkiy Khlado-Combine (TIN 6612000350, ORGN
1026600933171).  The case is docketed as A60-13089/2005-S11.
Ms. O. Rushitskaya has been appointed temporary insolvency
manager.

Creditors have August 23, 2005 to submit their proofs of claim
to:

(a) KAMENSK-URASLKIY KHLADO-COMBINE
    623414, Russia, Sverdlovsk region, Kamensk-Uralskiy,
    Lermontova Str. 38

(b) Temporary Insolvency Manager
    620102, Russia, Ekaterinburg,
    Moskovskaya Str. 58-192


KERAMZITE GRAVEL: Succumbs to Bankruptcy
----------------------------------------
The Arbitration Court of Tatarstan republic commenced bankruptcy
proceedings against Keramzite Gravel (TIN 1650100773) after
finding the factory insolvent.  The case is docketed as A65-
29071/2004-SG4-27.  Mr. M. Sidorov has been appointed insolvency
manager.  Creditors have until Sept. 16, 2005 to submit their
proofs of claim to 420126, Russia, Tatarstan republic, Kazan,
Post User Box 188.

CONTACT:  KERAMZITE GRAVEL
          423824, Russia, Tatarstan republic,
          N. Chelny, Post User Box 172

          Mr. M. Sidorov
          Insolvency Manager
          420126, Russia, Tatarstan republic,
          Kazan, Post User Box 188


KHAADI-OIL: Public Auction Set Today
------------------------------------
The limited liability company Khaadi-Oil will sell its property
on Aug. 23, 2005, 3:00 p.m.  The public auction will take place
at Russia, Saratov region, Engels, Prom. Zone, LLC KHAADI-OIL.

The assets for sale are:

Lot 1: building constructions and grand sites for a starting
       price of RUB1,825,000

Lot 2: another building for a starting price of RUB720,000.

The list of documentary requirements is available at:

(a) Russia, Saratov region, Chernyshevskogo Str. 88, LLC
    Companion-Consult

(b) 413116, Russia, Saratov region, Engels, Prom. Zone.


KOLOCHENEVSKAYA: Proofs of Claim Deadline Expires Today
-------------------------------------------------------
The Arbitration Court of Novosibirsk region has commenced
bankruptcy supervision procedure on open joint stock company
Kolochenevskaya (TIN 5425101364).  The case is docketed as A45-
8021/05-25/171.  Mr. V. Avgustovskiy has been appointed
temporary insolvency manager.  Creditors have until Aug. 23,
2005 to send their proofs of claim to 630099, Russia,
Novosibirsk, Zhurinskaya Str. 37.

CONTACT:  KOLOCHENEVSKAYA
          632641, Russia, Novosibirsk region,
          Kochenevo, 30 Let Pobedy Str. 2

          Mr. V. Avgustovskiy
          Temporary Insolvency Manager
          630099, Russia, Novosibirsk region,
          Zhurinskaya Str. 37


MINUSINSK-STROY: Declared Insolvent
-----------------------------------
The Arbitration Court of Krasnoyarsk region commenced bankruptcy
proceedings against Minusinsk-Stroy after finding the open joint
stock company insolvent.  The case is docketed as A33-5594/2005.
Mr. G. Oshepkov has been appointed insolvency manager.
Creditors have until Aug. 23, 2005 to submit their proofs of
claim to 655009, Russia, Khakasiya republic, Abakan, Litvinova
Str. 3, Apartment 2.

CONTACT:  MINUSINSK-STROY
          662600, Russia, Krasnoyarsk region,
          Michurinsk, Gogolya Str. 60

          Mr. G. Oshepkov
          Insolvency Manager
          655009, Russia, Khakasiya republic,
          Abakan, Litvinova Str. 3, Apartment 2


OAO GAZPROM: Fitch Takes Closer Look at Sibneft Acquisition
-----------------------------------------------------------
Fitch Ratings has said that it intends to carefully monitor
developments surrounding a possible takeover of OAO Sibneft by
OAO Gazprom ('BB+'/Stable).

Expectations have arisen that Russia's gas monopoly, Gazprom, is
looking at possibly acquiring a 72% stake in Russia's fifth
largest oil company, OAO Sibneft, for an estimated US$10
billion.  While the details of the intended financing for this
potential acquisition have not been finalized, Gazprom is
considering financing the transaction with short-term bridge
loans and new debt issuance.  The agency also understands that
Gazprom may contemplate acquiring additional shares in order to
obtain an absolute controlling stake in the company.

Jeffrey Woodruff, Director in Fitch's Energy Team, said:
"Acquiring Sibneft fits in with the company's strategy of
diversifying operations into crude oil production and achieving
the stated goal of becoming Russia's flagship energy company
intent on competing with major western oil companies."

Sibneft reported EBITDA of US$3.2 billion in 2004 and total debt
of approximately US$1.45 billion.  Despite plans to pay out a
record dividend of US$2.0 billion, which is equivalent to the
company's net income in 2004, Sibneft still has a reported
US$1.14 billion of cash on balance sheet at year end, which
leads to a favorable net debt figure of just US$308 million.
Fitch views the acquiring of an oil company as contributing to
the diversification of Gazprom's business profile.
Additionally, obtaining a company such as Sibneft with proven
earnings and low leverage is also beneficial to Gazprom's
creditworthiness.

Fitch notes, however, that should the acquisition be initially
financed with a sizeable bridge facility, this would result in a
significant increase in Gazprom's short-term leverage.  Fitch
currently understands that the potential transaction will be
financed through a mix of new bank loans, a short-term bridge
facility and new debt issuance totaling US$10 billion.
Gazprom's ability to repay the bridge-loan in a timely fashion
may be partially dependent upon Gazprom receiving US$7.2bn in
funds from the government for the purchase of its additional
10.74% stake in Gazprom.  To date, Gazprom has received RUB16.2
billion (US$585.1 million) and expects to receive the rest by
the end of 2005.

Fitch will continue to carefully monitor any developments
related to this or any other transaction in order to determine
the impact on Gazprom's credit rating.  Gazprom is the world's
largest natural gas company, responsible for 86% of the Russia's
natural gas production and is the monopoly operator of the
country's unified gas supply system.  Sibneft is Russia's fifth
largest oil company by production with proven SPE reserves of
4.8 billion barrels of oil equivalent and production of 34
million tonnes of crude in 2004.

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

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


ORENBURG-STROY-MATERIALS-CERAMICS: Public Auction Set Wednesday
---------------------------------------------------------------
The insolvency manager of limited liability company Orenburg-
Stroy-Materials-Ceramics will sell its property on Aug. 25,
2005, 3:00 p.m.  The public auction will take place at Russia,
Orenburg, 10th Liniya str. 2A, Office 7.  Up for sale are the
company's shares for a starting price of RUB60,000,000.

Preliminary examination and reception of bids are done during
office hours today.  The list of documentary requirements is
available at 460001, Russia, Orenburg, Post User Box 1515.

CONTACT:  ORENBURG-STROY-MATERIALS-CERAMICS
          Russia, Orenburg region,
          10th Liniya Str. 2A, Office 7

          Ms. S. Pototskaya
          Insolvency Manager
          460001, Russia, Orenburg region,
          Post User Box 1515
          Phone: (3532) 99-07-14


SHATOVSKOYE: Bankruptcy Hearing Set November
--------------------------------------------
The Arbitration Court of Nizhniy region has commenced bankruptcy
supervision procedure on open joint stock company Shatovskoye.
The case is docketed as A43-11993/2005, 33-245.  Mr. V. Ershov
has been appointed temporary insolvency manager.  A hearing will
take place on Nov. 22, 2005, 1:30 p.m. at the Arbitration Court
of Nizhniy region.

CONTACT:  SHATOVSKOYE
          607243, Russia, Nizhniy region,
          Arzamasskiy region, Shatovka

          Mr. V. Ershov
          Temporary Insolvency Manager
          607243, Russia, Nizhniy region,
          Arzamas, Kalinina Str. 18, Apartment 28

          The Arbitration Court of Nizhniy region
          603082, Russia, Nizhniy region,
          Kremlin, Building 9


SHOK: Bankruptcy Supervision Procedure Begins
---------------------------------------------
The Arbitration Court of Moscow has commenced bankruptcy
supervision procedure on limited liability company Shok.  The
case is docketed as A40-21694/05-123-42B.  Ms. N. Kalita has
been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 167000, Russia,
Syktyvkar, Pervomayskaya Str. 149.  A hearing will take place on
Oct. 25, 2005.

CONTACT:  SHOK
          Russia, Moscow region,
          Krasina Per. 16

          Ms. N. Kalita
          Temporary Insolvency Manager
          167000, Russia, Syktyvkar,
          Pervomayskaya Str. 149


SPETS-ENERGO-SERVICE: Declared Insolvent
----------------------------------------
The Arbitration Court of Novosibirsk region commenced bankruptcy
proceedings against Spets-Energo-Service after finding the
limited liability company insolvent.  The case is docketed as
A45-11324/05-4/275.  Mr. Y. Gomerov has been appointed
insolvency manager.

CONTACT:  SPETS-ENERGO-SERVICE
          633102, Russia, Novosibirsk region,
          Ob-2, Geodezicheskaya Str. 18

          Mr. Y. Gomerov
          Insolvency Manager
          630501, Russia, Novosibirsk region,
          Krasnoobsk, Post User Box 325
          Phone: 348-60-77


YUKOS OIL: Dutch Court to Rule on Western Bank's Lawsuit Sept.
--------------------------------------------------------------
RIA Novosti reports that the Amsterdam Court will pronounce a
ruling on the lawsuit of a consortium of ten western banks
against the Yukos Oil company on September 29, the consortium's
lawyer said.  The western banks filed the lawsuit on Aug. 19 to
request the court to check the legitimacy of the transfer of
shares of Yukos subsidiaries.

A spokesman for the ING bank (the Netherlands), a member of the
consortium, said that the bank granted a US$1 billion loan to
Yukos Oil in September 2003.  Yukos Oil has not repaid US$473
million of this debt and interest, he said.  The banks want to
sell the shares of Yukos Finance, a joint stock company
registered in the Netherlands.  This company manages Yukos
foreign property (an oil refinery in Lithuania and a pipeline in
Slovakia) worth US$1 billion.  However, in April 2005, Yukos
Finance set up Yukos B.V., without informing the consortium, to
takeover the shares of the foreign subsidiaries.

Yukos said the move was meant to protect creditors' interest
because Russian authorities could have seized the shares to
settle Yukos' tax debt.  The consortium disagrees, arguing that
Yukos Finance became a dummy company and placed the shares of
the subsidiaries beyond the reach of creditors, the ING
spokesman said.

                            *   *   *

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  But the case was dismissed in February
24, 2005.  Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H.
Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq.,
R. Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed $12,276,000,000 in
total assets and $30,790,000,000 in total debt.

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

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


YUKOS OIL: PKN Orlen Eyes Lithuanian Asset
------------------------------------------
Polish firm PKN Orlen holding is interested in buying a stake
from Lithuanian oil refinery Mazeikiu Nafta, which owner Yukos
Oil has indicated to sell.  Russian daily Gazeta thinks PKN has
better chances of acquiring the asset over other prospective
bidders, which include Lukoil, Gazprom, TNK-BP.

Yukos was supposed to buy additional shares in issue of the
company this spring under an investment agreement with the
Lithuanian government, but the company's tax burdens have kept
it from doing so.  Lithuania, which controls 41% of Mazeikiu,
will buy the newly issued shares, instead.  The acquisition will
give it more than 50% of Mazeikiu, and the say in the sale of
Yukos' stake.  According to the report, Lithuania may opt to
sell the holding to PKN Orlen for political reasons.  The move
could close the access to Butinga oil terminal on the Baltic Sea
to Russian companies.

Mazeikiu is capable of refining 12 million tons of crude oil
annually.  It also owns the Birzai oil pipeline.

                            *   *   *

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  But the case was dismissed in February
24, 2005.  Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H.
Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq.,
R. Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed $12,276,000,000 in
total assets and $30,790,000,000 in total debt.

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

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


YUKOS OIL: Reports Significant Reduction in First-half Losses
-------------------------------------------------------------
The embattled Yukos Oil major said Tuesday it had cut its net
losses by 18.4 times in the first six months of 2005, according
to RIA Novosti.

In a report issued using Russian accounting standards, the
company said its losses stood at RUB4.21 billion (more than
US$148 million).

By the end of the first half-year in 2004, the company's losses
were RUB77.6 billion (about US$2.8 billion).

Yukos' oil revenues over the reporting period declined by 2.6
times to RUB1.3 billion (about US$46 million), sales profits by
5.4 times to RUB163 billion (about US$6 billion), pretax losses
went up by 24% to RUB8.67 billion (US$306 million), whereas
production costs decreased by 2.2% to RUB744 billion (more than
US$26 billion).

                            *   *   *

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection on Dec. 14, 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  But the case was dismissed in February
24, 2005.  Zack A. Clement, Esq., C. Mark Baker, Esq., Evelyn H.
Biery, Esq., John A. Barrett, Esq., Johnathan C. Bolton, Esq.,
R. Andrew Black, Esq., Fulbright & Jaworski, LLP, represent the
Debtor in its restructuring efforts.  When the Debtor filed for
protection from its creditors, it listed $12,276,000,000 in
total assets and $30,790,000,000 in total debt.

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

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


===========
T U R K E Y
===========


ANADOLUBANK: Ratings Upped to 'B+' on Improved Profitability
------------------------------------------------------------
Fitch Ratings has upgraded Turkey-based Anadolubank's Long-term
foreign and local currency ratings to 'B+' from 'B' and its
National long-term to 'BBB+(tur)' from 'BBB(tur)'.  The bank's
other ratings are affirmed at Short-term (foreign and local
currency) at 'B', Individual at 'D' and Support at '4'.  The
Outlook is Stable on all Long-term ratings.

The rating upgrades reflect Anadolubank's improved
profitability, sound asset quality and comfortable liquidity.
The bank's ratings are balanced by adequate capitalization in a
potentially volatile environment.

Anadolubank's profitability improved in 2004 and Q105.  Net fee
and commission income equaled a comfortable 19% of total
operating income in 2004.  In the future, this stable source of
revenue is expected to drive earnings growth as margins will
decline.  Though the bank's cost to income ratio was still
relatively high by international standards, non-interest
expenses totaled 3.7% of average assets in 2004; this compared
favorably with its peer group average.  Although non-performing
loans (NPLs) have slightly increased, the NPL ratio was sound at
1.5% of the portfolio at end-Q105.  Liquid assets (excluding
government securities) covered 31% of customer deposits at end-
2004.  The bank's regulatory capital adequacy ratio was adequate
at 14.30% at end-1Q05 in a potentially volatile operating
environment.

Anadolubank is a medium-sized bank (assets of US$1,253 million
at end-1Q05) that focuses on corporate and commercial banking
and foreign-trade finance, primarily providing services to
medium-sized in exporters.  It is majority-owned by Habas, a
major producer and exporter of long steel and Turkey's dominant
manufacturer of industrial and medical gases.

CONTACT:  FITCH RATINGS
          Banu Cartmell, London
          Phone: +44 (0)20 7417 4373
          Ed Thompson, New York
          Phone: +1 212 908 0364
          Gulcin Orgun
          Turda Ozmen, Istanbul
          Phone: +90 212 279 10 65
          Web site: http://www.fitchratings.com

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


ARAB TURKISH: Fitch Affirms 'B' Ratings
---------------------------------------
Fitch Ratings has affirmed Turkey-based Arab Turkish Bank's
(ATB) Long-term foreign and local currency ratings at 'B'.  At
the same time, the agency has affirmed the bank's other ratings
at Short-term foreign and local currency 'B', Individual 'D',
Support '5' and National Long-term 'BBB (tur)'.  The Outlook on
all Long-term ratings is Stable.

The Long-term, Short-term and Individual ratings reflect ATB's
high degree of reliance, on the main shareholder for funding and
excessive, albeit decreasing, dependence on government
securities for profits.  These factors are balanced by ATB's
strong capitalization and improving asset quality.

In 2004 ATB continued to increase cash loans that had
traditionally been a low percentage of the balance sheet (2004:
31%, 2003: 25%).  The bank has a non-cash portfolio equaled to
42% of its end-2004 assets (2003: 29%) because of its trade
finance activities throughout the Middle East and North Africa
(MENA).  Management anticipates that loans will increase as a
proportion of total assets and the share of government
securities will decline, albeit gradually.  NPL's decreased to
9.3% of gross loans at end-2004 from 13.8% in previous year with
reserve coverage of 106% (2003: 101%).  ATB maintains strong
capital; the bank's Tier 1 and regulatory capital ratio at end-
2004 were 51.5% and 61.4% respectively, boosted by substantial
government securities portfolio that is risk-weighted at zero.

ATB was established in 1977.  Its shareholders include Libyan
Arab Foreign Bank (48%), Kuwait Investment Co.(6%) and three
Turkish banks (46%).  The bank has a designated mission of
supporting trade transactions within its designated region,
providing import and export trade finance to local and
international companies in Turkey and MENA.

CONTACT:  FITCH RATINGS
          Gulcin Orgun
          Turda Ozmen, Istanbul
          Phone: +90 212 279 1065
          Ed Thompson, New York
          Phone: +1 212 908 0364
          Banu Cartmell, London
          Phone: +44 207 417 4373
          Web site: http://www.fitchratings.com

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


TURKCELL ILETISIM: Redeems US$400 Mln 12.75% Senior Cellco Notes
----------------------------------------------------------------
Turkcell (NYSE: TKC, ISE: TCELL), the leading provider of mobile
communications in Turkey, has realized the payment in connection
with the redemption of the aggregate principal amount of US$400
million plus accrued interest of Cellco Finance N.V.'s
outstanding Senior Notes which matured on August 1, 2005.

In 1999, Cellco offered US$400 million aggregate principal
amount of its 12.75% Senior Notes due on August 1, 2005.  The
proceeds were lent to Turkcell under an Issuer Credit Loan
Agreement.  The net cash out for the principal and accrued
interest from Turkcell under the Credit Agreement totaled
US$425.5 million on August 1, 2005.

As of August 1, 2005, Turkcell held a notional amount of US$65
million of 12.75% Cellco notes on its balance sheet, which has
been purchased in 2003 and 2004 and Turkcell will collect an
interest income of US$4.1 million related to these bonds held.
Mr. Muzaffer Akpinar, Turkcell's CEO, commented: "We are glad
that with the redemption of these notes, our outstanding total
debt as well as our weighted average cost of borrowing will
improve significantly.  We will continue to maintain our focus
on decreasing borrowing costs as well as extending the maturity
of our loans while looking for opportunities to diversify our
lending base and debt portfolio."

About Turkcell

Turkcell is the leading GSM operator in Turkey with 25.6 million
postpaid and prepaid customers.  Turkcell provides high-quality
wireless telephone services throughout Turkey and has coverage
of 100% of the towns with more than 10,000 inhabitants.
Turkcell provides roaming with 464 operators in 180 countries as
of July 29, 2005.  Turkcell is the only NYSE listed company in
Turkey.  Turkcell has interests in international GSM operations
in Azerbaijan, Georgia, Kazakhstan, Moldova and Northern Cyprus,
which have a total of 4.2 million subscribers as of March 31,
2005.

                            *   *   *

In July, Standard & Poor's Ratings Services said that its 'B'
long-term foreign currency corporate credit rating on leading
Turkish mobile operator, Turkcell Iletisim Hizmetleri A.S.,
remains on CreditWatch with positive implications, where it was
placed on March 25, 2005.  The 'B' senior unsecured debt rating
on related entity Cellco Finance N.V. also remains on
CreditWatch with positive implications.

The CreditWatch placement followed the announcement that
TeliaSonera AB (A/Negative/A-1) was to take control of the
company through the purchase of a further 53% interest in
Turkcell Holding A.S., Turkcell's parent company.

CONTACT:  TURKCELL
          Web site: http://www.turkcell.com.tr
          E-mail: investor.relations@turkcell.com.tr

          Koray Ozturkler, Investor Relations
          Phone: +90 212 313 1500
          E-mail: koray.ozturkler@turkcell.com.tr

          Ferda Atabek, Investor Relations
          Phone: + 90 212 313 1275
          E-mail: ferda.atabek@turkcell.com.tr

          Media:
          Ilke Homris, Corporate Communications
          Phone: + 90 212 313 2320
          E-mail: ilke.homris@turkcell.com.tr

          or
          Bahar Erbengi, Corporate Communications
          Phone: + 90-212/313-2309
          E-mail: bahar.erbengi@turkcell.com.tr

          CITIGATE DEWE ROGERSON
          Europe:
          Sandra Novakov
          Phone: +44-207282-1089
          E-mail: sandra.novakov@citigatedr.co.uk
          or

          United States:
          Victoria Hofstad
          Phone: +1-212-687-8080
          E-mail: vhofstad@sardverb.com


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


ADLER: Insolvency Manager Takes over Operations
-----------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Adler (code EDRPOU 32306454) on July 6, 2005
after finding the private enterprise insolvent.  The case is
docketed as 24/401-B.  Mr. Olksandr Chechelnitskij (License
Number AB 216931) has been appointed liquidator/insolvency
manager.  The company holds account number 2600200533 at JSB
Azhio, Kurinivska branch, MFO 322807.

CONTACT:  ADLER
          Ukraine, Kyiv region,
          Kosmichna Str. 12/84

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


AK ALFA: Bankruptcy Supervision Begins
--------------------------------------
The Economic Court of Zakarpatska region commenced bankruptcy
supervision procedure on Ak Alfa (code EDRPOU 31589795) on July
7, 2005.  The case is docketed as 6/98.  Mr. Andrij Rakushinets
(License Number AA 779333) has been appointed temporary
insolvency manager.  The company holds account number
26000301210782 at Prominvestbank, MFO 312646.

CONTACT:  AK ALFA
          Ukraine, Zakarpatska region,
          Vinogradiv, Ardovetska Str. 199

          Mr. Andrij Rakushinets
          Temporary Insolvency Manager
          Ukraine, Uzhgorod region, Bogomoltsya Str. 12/59

          ECONOMIC COURT OF ZAKARPATSKA REGION
          88000, Ukraine, Uzhgorod region,
          Kotsubinski Str.2a


ATMANAJ: Insolvency Manager to Temporarily Run Business
-------------------------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
supervision procedure on OJSC Atmanaj (code EDRPOU 00486698) on
June 29, 2005.  The case is docketed as 25/107.  Mr. O. Osipenko
(License Number AA 783079) has been appointed temporary
insolvency manager.  The company holds account number 26045279
at JSPPB Aval, MFO 313496.

CONTACT:  ATMANAJ
          Ukraine, Zaporizhya region,
          Yakimivskij district, Atmanaj, Matrosov Str. 5

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


AVAL-SERVICE-D: Applies for Bankruptcy Proceedings
--------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against JSCCT Aval-Service-D (code EDRPOU 23648790)
on June 24, 2005 after finding the limited liability company
insolvent.  The case is docketed as B 29/230/40.  Ms. Natalya
Chesnova (License Number AB 216702) has been appointed
liquidator/insolvency manager.  The company holds account number
26008006840100 at JSPPB Aval, Dnipropetrovsk regional branch,
MFO 305653.

CONTACT:  AVAL-SERVICE-D
          49070, Ukraine, Dnipropetrovsk region,
          Karl Marx Avenue, 62

          Ms. Natalya Chesnova
          Liquidator/Insolvency Manager
          49101, Ukraine, Dnipropetrovsk region,
          Kirov Avenue, 28-a, Office 210
          Phone: 36-10-75

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


BUDZHITLOSERVICE: Undergoes Sanction Procedure
----------------------------------------------
The Economic Court of Lviv region commenced sanction procedure
on state enterprise Budzhitloservice (code EDRPOU 30084633) on
July 4, 2005.  The case is docketed as 6/416-29/335, 6/332-
4/271.  Mr. Bogdan Sobenko (License Number AA 630140) has been
appointed sanction manager.

CONTACT:  BUDZHITLOSERVICE
          82100, Ukraine, Lviv region,
          Drogobich, Fabrichna Str. 61/15

          Mr. Bogdan Sobenko
          Sanction Manager
          79018, Ukraine, Lviv region,
          Antonovich Str. 29/12

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


INEKO: Dnipropetrovsk Court Appoints Insolvency Manager
-------------------------------------------------------
The Economic Court of Dnipropetrovsk commenced bankruptcy
proceedings against Ineko (code EDRPOU 31197826) on June 30,
2005 after finding the private enterprise insolvent.  The case
is docketed as B 29/121/05.  Mr. Oleksandr Shikulenko (License
Number AA 783245) has been appointed liquidator/insolvency
manager.  The company holds account number 26004014991 at JSPPB
Aval, Dnipropetrovsk branch, MFO 30663.

CONTACT:  INEKO
          51900, Ukraine, Dnipropetrovsk region,
          Dniprodzerzhinsk, 8 Bereznya Str. 39/45

          Mr. Oleksandr Shikulenko,
          Liquidator/Insolvency Manager
          Ukraine, Dnipropetrovsk region,
          Shirshov Str. 7, room 82

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


KRISTINA: Declared Insolvent
----------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Kristina (code EDRPOU 23352760) on April 14,
2005 after finding the limited liability company insolvent.  The
case is docketed as 33/26 B.  Mr. Sergij Kmitto (License Number
AA 485233) has been appointed liquidator/insolvency manager.

CONTACT:  KRISTINA
          Ukraine, Donetsk region,
          Novo-Odeska Str. 29

          Mr. Sergij Kmitto
          Liquidator/Insolvency Manager
          86114, Ukraine, Donetsk region,
          Makiyivka, Malinovskij Str. 44, a/b 450

          ECONOMIC COURT OF DONETSK REGION
          83048, Ukraine, Donetsk region,
          Artema Str. 157


PEREMOGA: Under Bankruptcy Supervision
--------------------------------------
The Economic Court of Vinnitsya region has commenced bankruptcy
supervision procedure on OJSC Agrofirm Peremoga (code EDRPOU
05487412).  The case is docketed as 5/130-05.  Mr. Anatolij
Tushevskij (License Number AA 176044) has been appointed
temporary insolvency manager.  The company holds account number
2600311246 at JSPPB Aval, Vinnitsya regional branch, MFO 302247.

CONTACT:  PEREMOGA
          Ukraine, Vinnitsya region,
          Barskij district, Balki,

          Mr. Anatolij Tushevskij
          Temporary Insolvency Manager
          Ukraine, Vinnitsya region,
          Litinskij district, Zhuravne,
          Revolutsijna Str. 2

          ECONOMIC COURT OF VINNITSYA REGION
          21036, Ukraine, Vinnitsya region,
          Hmelnitske Shose, 7


PROMBUD-3: Succumbs to Bankruptcy
---------------------------------
The Economic Court of Harkiv region has commenced bankruptcy
supervision procedure on JSCCT Prombud-3 (code EDRPOU 01270055).
The case is docketed as B 50/71-05.  Mr. Vladislav Kardash
(License Number AB 216987) has been appointed temporary
insolvency manager.  The company holds account number
26009301760045 at Prominvestbank, Kupyansk branch, MFO 351511.

CONTACT:  PROMBUD-3
          Ukraine, Harkiv region,
          Kupyansk, Yuvilejna Str. 4

          Mr. Vladislav Kardash
          Liquidator/Insolvency Manager
          63700, Ukraine, Harkiv region,
          Kupyansk, Lenin Str. 15/4

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


PROMETEJ: Insolvency Manager Takes over Firm
--------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Prometej (code EDRPOU 31542029) after
finding the limited liability company insolvent.  The case is
docketed as B-39/63-05.  Mr. Vladislav Kardash (License Number
AB 216987) has been appointed liquidator/insolvency manager.

CONTACT:  PROMETEJ
          63752, Ukraine, Harkiv region,
          Kupyansk district, Senkove,
          Harkivska Str. 49

          Mr. Vladislav Kardash,
          Liquidator/Insolvency Manager
          63700, Ukraine, Harkiv region,
          Kupyansk, Lenin Str. 15/4

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


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


AMADEUS FISHING: Appoints PricewaterhouseCoopers Receiver
---------------------------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

        IN THE MATTER OF Amadeus Fishing Company Limited
                        (In Receivership)

I, Graham Douglas Frost, Chartered Accountant, of
PricewaterhouseCoopers LLP, Erskine House, 68-73 Queen Street,
Edinburgh give notice that on July 8, 2005, my colleague, Graham
Hunter Martin, and I were appointed as Joint Receivers of the
whole property and assets of Amadeus Fishing Company Limited in
terms of section 51 of the Insolvency Act 1986.

In terms of section 59 of the said Act, preferential Creditors
are required to intimate their claims to me within six months of
the date of this notice.

Graham Douglas Frost, Joint Receiver

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Erskine House
          68-73 Queen Street
          Edinburgh EH2 4NH
          Phone: [44] (131) 226 4488
                            260 4402 VAT
          Fax: [44] (131) 260 4008
                          260 4030 VAT
          Web site: http://www.pwcglobal.com


AMISTOSO LIMITED: Internet Consultancy Firm Liquidates
------------------------------------------------------
At an Extraordinary General Meeting of Amistoso Limited, duly
convened, and held at Sentinel House, Peasholme Green, York YO1
7PP, 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
Edwin James Kirkwood be and is hereby appointed Liquidator for
the purposes of such winding-up."

K J Hillsden, Chairman

CONTACT:  AMISTOSO LIMITED
          Kings House
          12 King Street
          York YO1 9WP
          Phone: 01904 659199
          Web site: http://www.amistoso.com/

          EJK ASSOCIATES LIMITED
          Edwin James Kirkwood
          2 Church Court, Morley, Leeds LS27 9TN
          Phone: 0113 253 5232
          Fax: 0113 253 5953
          E-mail: edwin.kirkwood@ejkassociates.co.uk


APEX CONSERVATORIES: Winding-up Application Approved
----------------------------------------------------
Company Name: APEX CONSERVATORIES WINDOWS & DOORS LIMITED
              Units 1-4 Urban Road,
              Kirkby In Ashfield,
              Nottinghamshire, NG17 8DB
              Phone: 01623 722888

Registration Number: 04890572

Court: Nottingham

Date of Filing Petition: 6th May 2005

No. of Matter: 385 of 2005

Date of Winding-up Order: July 22, 2005

CONTACT:  Official Receiver
          The Frontage, 4th Floor,
          Queen Street,
          Nottingham, NG1 2BL
          Phone: 0115 852 5000
          Fax: 0115 852 5199


ARC GALLERY: Owners Decide to Wind up Business
----------------------------------------------
At an Extraordinary General Meeting of the Members of ARC
Gallery Stores Limited, duly convened, and held at The Best
Western, Leyland, near Preston PR25 4JX, 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
Timothy Hargreaves, of T.H. Associates, Towngate House, 116-118
Towngate, Leyland PR25 2LQ, be and he is hereby nominated for
the purpose of winding-up."

E D Matthews, Director and Shareholder

CONTACT:  ARC GALLERY STORES
          Smithfield Buildings, 59 Oldham St., Northern Qtr,
          Manchester
          Phone: 0161 831 7454


A & R MARSHALL: Files for Liquidation
-------------------------------------
Company Name: A & R MARSHALL LIMITED
              13 Wilton Place, Basingstoke,
              Hampshire, RG21 7UD
              Phone: (01256) 766100
              Fax: (01256) 766071

Registration Number: 04767790

Court: Bristol District Registry

Date of Filing Petition: May 12, 2005

No. of Matter: 2135 of 2005

Date of Winding-up Order: August 3, 2005

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


AUGMENTIS I.T.: Runs out of Money
---------------------------------
At an Extraordinary General Meeting of Augmentis I.T. Limited,
duly convened, and held at No 1 St Swithin Street, Worcester WR1
2PY, on 9 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."

P Harbourne, Chairman

CONTACT:  AUGMENTIS I.T. LIMITED
          29a Ennerdale Road, Harlescott
          Shrewsbury, Shropshire SY1 3LD
          Phone: 01244661888
          Fax: 01743457800

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


AUTOCUE LIMITED: Joint Receivers' Report Out September 12
---------------------------------------------------------
Notice is hereby given, pursuant to section 48 of the Insolvency
Act 1986, that a Meeting of the Creditors of Autocue Limited
will be held at Ernst & Young LLP, 1 More London Place, London
SE1 2AF, on 12 September 2005, at 11:00 a.m., to receive the
report of the Joint Administrative Receivers and to decide if a
Committee of Creditors should be appointed.  Creditors whose
claims are wholly secured are not entitled to attend or to be
represented at the Meeting.  Creditors who intend to vote at the
Meeting should note the following: a written statement of claim
must be lodged with the Joint Administrative Receivers by 12:00
noon on the business day before the Meeting at Ernst & Young
LLP, 1 More London Place, London SE1 2AF; and proxies for use at
the Meeting must be completed and lodged with the Joint
Administrative Receivers before the Meeting.  Copies of the
report can be obtained from the undersigned at Ernst & Young
LLP, 1 More London Place, London SE1 2AF.

A M Hudson, Joint Administrative Receiver

                            *   *   *

Autocue has been serving the broadcast industry since the mid-
50s when Autocue Ltd. in London and in parallel QTV in New York
produced and patented the very first prompters.  Autocue and QTV
merged in 1984, and now known worldwide for the service and
dependability, serving such prestigious clients as Bloomberg,
the BBC and MTV Europe.  Visit http://www.autocue.comfor more
information.

CONTACT:  AUTOCUE LTD.
          Autocue House
          Merton Road
          London SW18 5JS
          Phone: 020 8870 0104
          Fax: 020 8874 3726

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


BURGESS ENGINEERING: Hires Administrators from BDO Stoy Hayward
---------------------------------------------------------------
Company Names: BURGESS ENGINEERING LIMITED
               (Company No 03087859)

               BURGESS RAIL LIMITED
               (Company No 04134857)

Nature of Businesses: Engineering Services and Services to the
Rail Industry

Trade Classification: 7 and 32

Date of Appointment: 9 August 2005

Joint Administrators' Names and Address: Simon James Michaels
and David Harry Gilbert (IP Nos 2376/01 and 8824/01), of BDO
Stoy Hayward LLP, 8 Baker Street, London W1U 3LL

CONTACT:  BURGESS ENGINEERING LTD.
          Channel View Road
          Dover, Kent CT17 9TP
          United Kingdom
          Phone: 01304 204829

          BURGESS RAIL LTD.
          77 Biggin Street,
          Dover, Kent CT16 1BB
          Phone: 01304245450

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


CABLE & WIRELESS: S&P Hails Energis Purchase
--------------------------------------------
Standard & Poor's Ratings Services affirmed all its ratings on
U.K.-based telecommunications provider Cable & Wireless PLC,
including its 'BB' long-term corporate credit rating, following
the group's agreement to acquire fellow U.K. telecoms services
company Chelys Ltd. (Energis).  The outlook remains negative.

"The affirmation reflects the industrial logic of the
transaction, which cements C&W's U.K. strategy, and the
relatively minor increase in overall financial risk," said
Standard & Poor's credit analyst Simon Redmond.

The acquisition cost of about GBP0.6 billion ($1.1 billion) will
be funded from existing cash.  The transaction is subject to
regulatory clearance and is expected to complete in the autumn
of 2005. Pro forma for the Energis transaction, C&W would have
had gross financial debt of GBP0.9 billion on an unadjusted
basis at March 31, 2005.

The acquisition of Energis is supportive but not
transformational for C&W.  The combined U.K. entity will face
the same very challenging operating environment, and the market
structure, particularly with respect to the BT Group PLC (A-
/Negative/A-2), remains as yet unchanged.  The move does,
however, result in a U.K. business with a larger, especially
corporate, customer base.  This can be served over the medium
term from one new upgraded network, with improved local access.

The negative outlook principally reflects the integration risks
associated with combining C&W and Energis, in addition to the
need to retain customers and maintain operational and capital
discipline as the industry continues to evolve.

"A downgrade could result if the expected decline in revenues
and underlying cash generation accelerates," said Mr. Redmond.
"Alternatively, an outlook revision to stable would be
consistent with stronger-than-expected cash generation together
with indications that some of Energis' strengths, including
profitable customer growth, have been embedded in the combined
group."

Further material acquisitions are not currently assumed. The
group is expected to concentrate on executing its stated
business strategy while maintaining financial prudence.

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

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


C & F FURNITURE: Court Issues Winding-up Order
----------------------------------------------
Company Name: C & F FURNITURE DESIGN LIMITED
              71 Station Road, Liss,
              Hampshire, GU33 7AD
              Phone: 01730893743

Registration Number: 3648692

Court: Bristol District Registry

Date of Filing Petition: June 13, 2005

No. of Matter: 2436 of 2005

Date of Winding-up Order: August 3, 2005

CONTACT:  Official Receiver
          The Quay,
          30 Channel Way,
          Southampton, SO14 3QQ
          Phone: 023 8030 3100
          Fax: 023 8030 3177


COLLINS & AIKMAN: U.K. Receiver Sets Bids Deadline September 7
--------------------------------------------------------------
Administrators Kroll has given bidders for Collins & Aikman
Europe until September 7 to file final offers, according to The
Financial Times.

The European arm of the bankrupt U.S. car parts supplier is
reportedly worth hundreds of millions of dollars, with a
turnover of US$1 billion in 2004.

Simon Appell, administrator at Kroll, said a shortlist of less
than 1O bidders has been prepared, with two-thirds composed of
American and European trade buyers, the rest private equity.

The deadline came after the U.S. business received an expression
of interest from American parts maker Lear, which is
entertaining a takeover or joint venture.  David Wajsgras,
Lear's chief financial officer, has reportedly requested access
to C&A's accounts.  His offer follows that of Plastech
Engineered Products' US$1 billion bid.  Lear, which has also
been hit by the production slump at Ford and General Motors, is
currently reviewing its interiors business and is planning  to
focus on seats and electronics.

Credit rating agency Standard & Poor's recently said a
partnership between C&A and Lear's interiors business "would
create a formidable competitor with superior scale, product
breadth, and technical capabilities."

C&A is expected to unveil a business plan before the U.S.
bankruptcy court in the Eastern District of Michigan by month's
end.  According to latest figures, the company had turnover of
US$3 billion in the first nine months of 2004, and net loss of
US$109 million.

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
US$3,196,700,000 in total assets and US$2,856,600,000 in total
debts.

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


COUNTY HOME: Files for Liquidation
----------------------------------
At an Extraordinary General Meeting of the Members of
County Home Improvements (Oxford) Limited, duly convened, and
held at 114 High Street, Witney, Oxfordshire OX28 6HT, on 10
August 2005, the following Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue in
business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
Ian David Holland be and is hereby appointed Liquidator."
At a subsequent Meeting of the Creditors of the Company held at
114 High Street, Witney, Oxfordshire OX28 6HT, on 10 August
2005, the appointment of the said Ian David Holland, of The
Clock House, 87 Paines Lane, Pinner, Middlesex HA5 3BZ, as
Liquidator was confirmed for the purposes of winding-up the
Company.

Chairman

                            *   *   *

County Home manufactures and installs doors, conservatories and
replacement windows.

CONTACT:  COUNTY HOME IMPROVEMENTS
          Unit 10 Avenue One
          Station Lane
          Witney
          Oxfordshire
          OX8 6XZ
          Phone: 01993 778777
          Fax: 01993 708777

          IAN HOLLAND & CO.
          The Clock House
          87 Paines Lane
          Pinner
          Middlesex HA5 3BZ
          Phone: 020 8866 6556
          Fax: 020 8866 7557
          E-mail: idh@ianholland.co.uk


CUDDLES LIMITED: Files for Liquidation
--------------------------------------
At an Extraordinary General Meeting of the Members of Cuddles
Limited, duly convened, and held at Gable House, 239 Regents
Park Road, Finchley, London N3 3LF, on 3 August 2005, the
following Resolutions were duly passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

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

P Lancaster, Director

CONTACT:  CUDDLES LIMITED
          16 Cleveland Street, Wolverhampton
          West Midlands WV1 3HH
          Phone:  01902424909

          M S E SOLOMONS
          Gable House, 239 Regents Park Road, London N3 3LF


DELCO (TOOLMAKERS): Appoints Liquidator
---------------------------------------
At an Extraordinary General Meeting of Delco (Toolmakers)
Limited, convened, and held at the Duke of Cornwall Hotel,
Millbay Road, Plymouth PL1 3LG, on 10 August 2005, at 10:30
a.m., the following Resolutions were passed, as an Extraordinary
Resolution and as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Giles Richard Frampton, of Richard J Smith & Co, 53 Fore Street,
Ivybridge, Devon PL21 9AE, be appointed Liquidator for the
purpose of the voluntary winding-up."

Chairman

                            *   *   *

Delco (Toolmakers) provides automations solutions in the field
of medicine, pharmaceutical, filtration, brewing, electronics,
glass forming, controls, communications, injection moulding,
compression moulding, cosmetic, sanitary, and general
manufacturing.

CONTACT:  DELCO TOOLMAKERS LIMITED
          Estover Close
          Estover
          Plymouth
          PL6 7PL
          Phone: 01752733733
          Fax: 01752734734
          E-mail: info@delcotoolmakers.co.uk
          Web site: http://delcotoolmakers.co.uk


DETECH ENVIRONMENTAL: Calls in Administrators
---------------------------------------------
Name: DETECH ENVIRONMENTAL LIMITED
      (Company No 02387251)

Nature of Business: Building Demolition and Chemical Plant
Dismantling

Trade Classification: Demolition Buildings; Earth Moving

Date of Appointment: 4 August 2005

Administrators' Names and Address: Richard Howard Toone and
Kenneth William Touhey (IP Nos 9146 and 8369), both of Chantrey
Vellacott DFK, Russell Square House, 10-12 Russell Square,
London WC1B 5LF

CONTACT:  DETECH ENVIRONMENTAL LTD.
          Alexandere House
          Mansfield Road
          Corbriggs
          Chesterfield
          Derbyshire, S41 0JW
          United Kingdom
          Phone: (01246) 540033
          Fax: (01246) 540077
          E-mail: info@detech.co.uk
          Web site: http://www.detech.co.uk

          CHANTREY VELLACOTT DFK
          Russell Square House,
          10-12 Russell Square,
          London WC1B 5LF
          Phone: 020 7509 9000
          Fax: 020 7436 8884
          Web site: http://www.cvdfk.com


DEVA FACILITIES: Administrators from Kroll Limited Enter Firm
-------------------------------------------------------------
Name: DEVA FACILITIES LIMITED
      (Company No 04504901)

Nature of Business: Contract Cleaning

Address of Registered Office: The Copper Room, The Deva Centre,
Trinity Way, Manchester M3 7BG

Date of Appointment: 9 August 2005

Administrators' Names and Address: Stuart Charles Edward
Mackellar and Michael Joseph Moore (IP Nos 6883 and 5563), both
of Kroll Limited, 3rd Floor, Wellington Plaza, 31 Wellington
Street, Leeds LS1 4DL

CONTACT:  KROLL LIMITED
          Wellington Plaza,
          31 Wellington Street,
          Leeds LS1 4DL
          Web site: http://www.krollworldwide.com


E.J.S. & SON: Court Sanctions Liquidation
-----------------------------------------
Company Name: E.J.S. & SON (ELECTRICAL) LTD.
              24 Newnham Street,
          Bedford, MK40 3JR
          Phone: 01234 262582
          Fax: 01234 268814
          Web site: http://www.ejsgroup.com

Registration Number: 04941867

Court: High Court Of Justice

Date of Filing Petition: January 17, 2005

No. of Matter: 00282 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


ELGAR HOTEL: Collapses into Liquidation
---------------------------------------
Company Name: ELGAR HOTEL LIMITED
              The Old School House,
              Severn Stoke, Worcester,
              Worcestershire, WR9 9JA
              Phone: 0870 478 6358

Registration Number: 04273943

Court: Bristol District Registry

Date of Filing Petition: February 28, 2005

No. of Matter: 1115 of 2005

Date of Winding-up Order: August 3, 2005

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


EURAMAX HOLDINGS: Moody's Reviews Ratings for Possible Downgrade
----------------------------------------------------------------
Moody's Investors Service has placed the ratings of Euramax
Holdings, Inc. (borrowers include Euramax Holdings, Inc. (a U.S.
wholly owned subsidiary of Euramax International, Inc.) and
various European subsidiaries on review for possible downgrade.
The review is based on management's plans to seek an amendment
to the company's current senior secured bank credit facilities,
which would permit it to refinance its $190 million 2nd lien
bank loan and $110 million of holding company PIK notes with
senior subordinate debt at the operating subsidiary.

Ratings on review for possible downgrade include:

Euramax Holdings, Inc. (co-issuer is Euramax International
Holdings B.V.):

   * B1 -- Corporate Family Rating

   * B1 - Guaranteed first lien senior secured term loan,
     $332 million due 2012

   * B3 - Guaranteed second lien senior secured term loan,
     $190 million due 2012

Euramax Netherlands B.V. (co-issuers are Euramax Holdings
Limited (UK), Euramax Europe B.V.):

   * B1 - Guaranteed first lien senior secured term loan,
     $118 million due 2012

Euramax Holdings, Inc., (co-issuers are Euramax International
Holdings B.V., Euramax Holdings Limited (UK), Euramax Europe
B.V., Euramax Netherlands B.V.):

   * B1 - Guaranteed first lien senior secured revolving credit
     facility, $80 million due 2011

Moody's review will focus on the potential increase in operating
company financial leverage given the $110 million holding
company PIK notes, which Moody's viewed essentially as common
equity, will now be refinanced with cash-pay operating company
debt.  In addition, Moody's will assess management's tolerance
for increased financial leverage and the potential constraints
on the company's financial flexibility.

Euramax's ratings, which were initially assigned on June 13,
reflected Moody's expectation that Euramax's debt to EBITDA
(excluding the senior unsecured PIK notes) would decline below
5.0 times over the next year and that the company would generate
free cash flow to debt of at least 5%.  During the review
process, should Moody's ascertain that financial leverage will
increase to 6.0x and free cash flow to debt below 5% it is
likely the company's ratings will be downgraded.

Moody's hopes to conclude the review process prior to the
conclusion of the amendment process.

Headquartered in Norcross, Georgia, Euramax International Inc.
is an international producer of value-added aluminum, steel,
vinyl, and fiberglass products.  The company reported revenues
of $1.0 billion for the LTM ended April 1, 2005.


FICTITIOUS EGG: Animation Company Opts for Liquidation
------------------------------------------------------
At an Extraordinary General Meeting of Fictitious Egg Limited,
convened, and held at 52 Old Market Street, Bristol BS2 0ER, on
5 August 2005, at 2:30 p.m., the following Resolutions were
passed, as an Extraordinary Resolution and as an Ordinary
Resolution respectively:

"That it has been proved to the satisfaction of the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Mark Peter Jones, of Mark Jones & Co, 9A Southside Common,
London SW19 4TL, be appointed Liquidator for the purposes of the
voluntary winding-up."

A R Wyatt, Chairman

                            *   *   *

Fictitious Egg was founded by animation director/producer Andy
Wyatt in 1997 to create 2d traditional and Flash animation for
television, broadband, and interactive productions for a youth
and adult audience.  T.V. series work includes Johnny Casanova
the Unstoppable Sex Machine, Sid Sidesplitter and online series
Tommy Sausage.  Its award winning work has been seen worldwide
on NBC, WDR, Channel 4, Canal+ and top entertainment sites such
as Atomfilms.

CONTACT:  FICTITIOUS EGG LIMITED
          52 Old Market Street
          Bristol
          England UK
          BS2 0ER
          Phone: 0117 9250187
          Fax: 0117 9299004
          Web site: http://www.eggtoons.com
          Contact:
          Andy Wyatt, Director
          E-mail: andy@eggtoons.com


FUR HAIRDRESSING: Court Okays Liquidation
-----------------------------------------
Company Name: FUR HAIRDRESSING LIMITED
              49 Cavendish Road,
              London, SW12 0BL
              Phone: 02072289778

Registration Number: 03573068

Court: Bristol District Registry

Date of Filing Petition: June 13, 2005

No. of Matter: 2455 of 2005

Date of Winding-up Order: August 3, 2005

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


GROVEGRAY LIMITED: Calls in Liquidator
--------------------------------------
At an Extraordinary General Meeting of the Members of Grovegray
Limited, duly convened, and held at Dunkanhalgh Hotel, Blackburn
Road, Accrington BB5 5JP, on 11 August 2005, at 10:45 a.m., 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
Gordon Craig and Daniel P Hennessy, of Cresswall Associates
Limited, Bridge House, Marsh Lane, Shepley, Huddersfield HD8
8AE, be and they are hereby appointed Joint Liquidators of the
Company for the purpose of the voluntary winding-up."
At a subsequent Meeting of Creditors held later that day and at
the same venue, the above Resolutions were also approved by
Creditors.

F Hughes, Director

CONTACT:  GROVEGRAY LIMITED
          Unit 29/31, Railway Road Industrial Estate, Darwen,
          Lancashire BB3 3EH
          Phone: 01254777335


HARLOW PRESSINGS: Administrators from Vantis Redhead Enter Firm
---------------------------------------------------------------
Name: HARLOW PRESSINGS LIMITED
      (Company No 02340402)

Nature of Business: Manufacture Fabricated Metal Products

Date of Appointment: 8 August 2005

Administrators' Names and Address: J. S. French and G. Mummery
(IP Nos 003862 and 100898), both of Vantis Redhead French
Limited, 43-45 Butts Green Road, Hornchurch, Essex RM11 2JX

                            *   *   *

Harlow Pressings Ltd. was established in 1989 to manufacture
precision sheet metal pressings and assemblies for the O.E.M.
Companies located in Europe and involved in the domestic
electrical, telecommunications, business equipment and computer
hardware industries.  Visit http://www.harlow-group.com/for
more information.

CONTACT:  HARLOW PRESSINGS LTD.
          Units 57-60
          Llantarnam Industrial Park
          Cwmbran NP44 3AW
          Gwent
          Phone: 01633 487400
          Fax: 01633 863010

          VANTIS REDHEAD FRENCH LIMITED
          43-45 Butts Green Road,
          Hornchurch, Essex RM11 2JX
          Phone: 01708 458211
          Fax: 01708 442308
          E-mail: jeremy.french@vantisredheadfrench.co.uk


HIT ENTERTAINMENT: Moody's Rates US$172 Mln 2nd-Lien Loan B2
------------------------------------------------------------
Moody's assigned HIT Entertainment's US$172 million second lien
loan a B2 rating and affirmed the company's B1 corporate family
and first lien ratings.  The company's ratings continue to
reflect its high leverage and competitive operating environment
offset by its strong brand value and anticipated growth.  In
Moody's view, the reapportionment of the debt from senior
subordinated to second lien does not impact the corporate family
rating.  The rating outlook remains stable.

These rating has been assigned:

   * $172 million of second lien loan -- B2

These ratings have been affirmed:

   * Corporate Family Rating -- B1
   * $376 million First lien Term Loan --B1
   * $77 million First Lien Revolving Credit -- B1

These rating has been withdrawn:

   * $172 million senior subordinated notes -- (P)B3

Moody's notes that since the announcement of the transaction,
HIT has somewhat modified downward its estimated year end
revenues and adjusted EBITDA, by 4% and 3.5%, respectively,
mostly as a result of higher home entertainment returns from
Wal-Mart.  While this will not impact the company's corporate
family rating  it highlights our concerns regarding customer
concentration, particularly to a distributor as dominant as Wal-
Mart.

Notwithstanding these pressures, management has projected growth
of about 7% between LTM April 2005 and year-end and double
digits between 2005 and 2006.  Greater US exposure should drive
these improvements although Moody's believes they will be
tempered by the negative growth environment of the toy sector.

The B1 ratings on the $453 million of first lien senior secured
bank credit facilities reflect the senior-most position of this
class of debt and the debt protection measures provided by the
credit agreement.  The facilities are secured by all of the
stock and substantially all of the assets of the borrower and
its material subsidiaries and benefit from guarantees of
material subsidiaries.  The first lien debt ratings are the same
as the corporate family rating given the preponderance of debt
is at this level.

Moreover, the term sheet provides for a $150 million incremental
term loan.  Moody's also notes the collateral does not include
the Sprout joint venture but benefits from HIT's valuable
characters, film library and licensing agreements.  The B2
rating on the $172 million second lien loan (which also benefit
from guarantees of material subsidiaries) reflects its
contractual subordination to all the outstandings under the
first lien credit facilities as well as the limitations on
credit protection measures including an intercreditor agreement,
which requires "silent" second lien status for the collateral.

Moody's also highlights that while the ratings are supported by
the sizable cash contribution from Apax (approximately 50% of
the capital structure), the sponsor equity has significant debt-
like characteristics despite the fact that interest and
dividends are exclusively PIK.  Additionally, Apax does not
intend to receive management fees.  Moody's believes it is the
very junior nature of these facilities that provides some
cushion for both the first and second lien investors.

HIT Entertainment, with offices in London, Dallas and New York,
is a leading pre-school entertainment company with a portfolio
of properties including:

   * Bob the Builder,
   * Thomas the Tank Engine, and
   * Barney the Dinosaur.

The company has operations in the:

   * U.K.,
   * U.S.,
   * Canada,
   * Japan, and
   * Germany

Business segments include home entertainment, consumer products
television and live events as well as a recently announced U.S.
digital pre-school channel.

CONTACT:  HIT ENTERTAINMENT LTD.
          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


INDICII SALUS: Administrators Take over Business
------------------------------------------------
Name: INDICII SALUS LIMITED
      (Reg No 02952407)

Nature of Business: Software Consultancy and Supply

Trade Classification: 7220

Date of Appointment of Joint Administrative Receivers: 10 August
2004

Name of Person Appointing the Joint Administrative Receivers:
Anjar International Limited

Joint Administrative Receivers: Paul R. Appleton and Asher D.
Miller (Office Holder Nos 8883 and 9251), both of David Rubin &
Partners, First Floor, 26-28 Bedford Row, London WC1R 4HE

CONTACT:  INDICII SALUS LIMITED
          Web site: http://www.indiciis.com/

          DAVID RUBIN & PARTNERS
          26-28 Bedford Row, London WC1R 4HE
          E-mail: info@davidhornerandco.co.uk
          Web site: http://www.davidhornerandco.co.uk


JACOBS LADDER: Falls into Liquidation
-------------------------------------
At an Extraordinary General Meeting of Jacobs Ladder Marketing
Limited, convened, and held on 10 August 2005, at 2:30 p.m., 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 the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
Gordon Johnston of hjs Recovery, of 12-14 Carlton Place,
Southampton, Hampshire SO15 2EA, be appointed Liquidator of the
Company for the purpose of the voluntary winding-up."

S Meads, Chairman

                            *   *   *

Jacobs Ladder Marketing was established in 1996.   It is
involved in design, print, marketing, sales promotion,
advertising, media buying, PR and Web site design.

CONTACT:  JACOBS LADDER MARKETING LTD.
          Suite 4 Pine Court 36 Gervis Road
          Bournemouth Dorset BH1 3DH
          Phone: +44(0)1202 551594
          Fax: +44 (0)1202 551595
          Web site: http://www.jacobsladdermarketing.co.uk/

          HJS
          12-14 Carlton Place
          Southampton
          Hampshire SO15 2EA
          Phone: 023 8023 4222
          Fax: 023 8023 4888
          E-mail: gordon.johnston@hjsaccountants.co.uk


J BARKER ELECTRICAL: EGM Passes Winding-up Resolutions
------------------------------------------------------
At an Extraordinary General Meeting of Barker Electrical
(Services) Limited and J Barker Electrical (Minor Works)
Limited, duly convened, and held at Maclaren House, Skerne Road,
Driffield, East Yorkshire YO25 6PN, on 10 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
Andrew James Nichols, of Redman Nichols be and is hereby
appointed as Liquidator of the Company for the purpose of the
voluntary winding-up."

At a Meeting of Creditors held on 10 August 2005, the Creditors
confirmed the appointment of Andrew James Nichols as Liquidator.

P D Barker, Chairman

CONTACT:  J BARKER ELECTRICAL SERVICES LTD.
          The Old School Bldg
          Churchill Street
          Hull
          HU9 1RR
          Humberside
          Phone: 01482 588500
          Fax: 01482 588500

          Andrew James Nichols
          Redman Nichols
          Maclaren House, Skerne Road, Driffield
          East Yorkshire YO25 6PN


JGE SERVICES: Appoints Administrators from Hart Shaw
----------------------------------------------------
Name: JGE SERVICES LIMITED
      (Company No 04372568)

Nature of Business: Wholesale Frozen Food

Address of Registered Office: The Hart Shaw Building, Europa
Link, Sheffield Business Park, Sheffield S9 1XU

Date of Appointment: 8 August 2005

Joint Administrators' Names and Address: Andrew J. Maybery and
Christopher J. Brown (IP Nos 5373 and 8973), both of Hart Shaw
LLP, Europa Link, Sheffield Business Park, Sheffield S9 1XU

CONTACT:  HART SHAW
          Europa Link
          Sheffield Business Park
          Sheffield S9 1XU
          Phone: 0114 251 8850 or 01709 362001
          Fax: 0114 251 8851 or 01709 368590
          E-mails: chris.brown@hartshaw.co.uk
                   andrew.maybery@hartshaw.co.uk


J. & M. ATTWOOD: Appoints BDO Stoy Liquidator
---------------------------------------------
At an Extraordinary General Meeting of J. & M. Attwood Limited,
duly convened, and held at 8 Baker Street, London W1U 3LL, on 8
August 2005, the subjoined Extraordinary Resolution was duly
passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
accordingly that the Company be wound up voluntarily, and that
David Harry Gilbert and Simon James Michaels, of BDO Stoy
Hayward LLP, 8 Baker Street, London W1U 3LL, be and are hereby
appointed Joint Liquidators for the purposes of such winding-up
and are to act jointly and severally."

At a subsequent Meeting of Creditors, duly convened pursuant to
section 98 of the Insolvency Act 1986, and held on the same day,
the appointment of David Harry Gilbert and Simon James Michaels
was confirmed.

J Attwood, Chairman

                            *   *   *

The company is involved in warehouse and airfreight
distribution.  It was established in 1976 by two brothers, John
and Mark Attwood.  It remains a family-run business.

CONTACT:  J. & M. ATTWOOD LIMITED
          660 River Gdns, Feltham, Middlesex TW14 0RD
          Phone: 02088441111
          Fax: 02088441122
          Web site: http://www.jmattwood.com/

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


J R PURSER: Files for Liquidation
---------------------------------
At an Extraordinary General Meeting of J R Purser Plumbing &
Heating Services Limited, duly convened, and held at The County
Hotel, Oak Hill, Woodford Green, Essex IG8 9NY, on 5 August
2005, the following Extraordinary Resolution was 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 the Company be wound up voluntarily, and
that Bijal Shah, of ShaSens, Suite 215, Signal House, Lyon Road,
Harrow, Middlesex HA1 2AQ, be and he is hereby appointed
Liquidator."

J R Purser, Chairman

CONTACT:  J R PURSER PLUMBING & HEATING SERVICES LIMITED
          72 High Street, Clacton-On-Sea, Essex CO5 6PW
          Phone: 01206564056

          SHASENS
          Suite 215
          Signal House
          Lyon Road
          Harrow
          Middlesex HA1 2AQ
          Phone: 020 8863 6697
          Fax: 020 7212 2626


JOMARO LIMITED: Owners Call in Liquidators
------------------------------------------
At an Extraordinary General Meeting of the Members of Jomaro
Limited, duly convened, and held at the offices of Jacksons
Jolliffe Cork, Richmonds House, White Rose Way, Doncaster DN4,
on 3 August 2005, at 10:15 a.m., 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
Matthew Colin Bowker and David Antony Willis of Jacksons
Jolliffe Cork, Richmonds House, White Rose Way, Doncaster DN4,
be and are hereby appointed as Joint Liquidators for the
purposes of such winding-up."

J Marshall, Chairman

CONTACT:  JOMARO LIMITED
          Glenaire, Ferry Lane, Goole
          North Humberside DN14 9LL
          Phone: 01405860278


KAVANAH CONSTRUCTION: Names David Rubin Liquidator
--------------------------------------------------
At an Extraordinary Meeting of the Members of Kavanah
Construction Limited, duly convened, and held at the offices of
David Rubin & Partners, 1st Floor, 26-28 Bedford Row, London
WC1R 4HE, on 11 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
Asher Miller, of David Rubin & Partners, 1st Floor, 26-28
Bedford Row, London WC1R 4HE, be and he is hereby appointed
Liquidator for the purposes of such winding-up."

P Miller, Chairman

CONTACT:  KAVANAH CONSTRUCTION LTD.
          160 Ebury St
          London, SW1W 9JR
          Phone: 020 7881 0578

          DAVID RUBIN & PARTNERS
          26-28 Bedford Row, London WC1R 4HE
          E-mail: info@davidhornerandco.co.uk
          Web site: http://www.davidhornerandco.co.uk


LAPTOP SOLUTIONS: EGM Passes Winding-up Resolution
--------------------------------------------------
At an Extraordinary General Meeting of Laptop Solutions Plc held
at Sanderling House, 1071 Warwick Road, Acocks Green, Birmingham
B27 6QT, on Tuesday 2 August 2005, at 2:30 p.m., the following
Extraordinary Resolutions were duly passed:

"That it has proved to the satisfaction of the Meeting that the
Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up
voluntarily, and that the Company be wound up accordingly, and
that Andrew Fender, of Sanderlings LLP, Sanderling House, 1071
Warwick Road, Acocks Green, Birmingham B27 6QT, be and is hereby
nominated Liquidator for the purpose of said winding-up."

P McDonald, Chairman

CONTACT:  LAPTOP SOLUTIONS PLC
          36 Islington Row, Middleway, Edgbaston, Birmingham,
          West Midlands, B15 1LD
          Phone: 0121-455-8666
          Fax: 0121-454-1666
          Web site: http://www.laptopdoctors.co.uk/
          E-mail: info@laptopsolutions.net


LEAPS & BOUNDS: Appoints Tenon Recovery Liquidator
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Leaps &
Bounds Limited, duly convened, and held at Highfield Court,
Tollgate, Eastleigh, Hampshire SO53 3TZ, 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 Pear and I Cadlock be and are hereby appointed Liquidators for
the purposes of such winding-up."

At a subsequent Meeting of Creditors, duly convened pursuant to
section 98 of the Insolvency Act 1986, and held at 11:00 a.m. on
the same day, the appointment of A J Pear and I Cadlock, both of
Tenon Recovery, Lyndean House, Queens Road, Brighton, East
Sussex BN1 3XB, was confirmed.

K Lindsey, Director

CONTACT:  LEAPS & BOUNDS LIMITED
          Blandford Camp, Blandford Forum, Dorset DT11 8RH
          Phone: 01258458080

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


L PACE CARPENTRY: Succumbs to Liquidation
-----------------------------------------
At an Extraordinary General Meeting of L Pace Carpentry Limited
held at Sanderling House, 1071 Warwick Road, Acocks Green,
Birmingham B27 6QT, on Tuesday 9 August 2005, at 11:30 a.m., the
following Extraordinary Resolutions were duly passed:

"That it has proved to the satisfaction of the Meeting that the
Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up
voluntarily, and that the Company be wound up accordingly, and
that Paul John Webb, 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 Pace, Chairman

CONTACT:  L PACE CARPENTRY LIMITED
          143 High Street, Rowley Regis
          West Midlands B65 0EA 18 Lombard Street
          Stourport-On-Severn, Worcestershire DY13 8DT
          Phone: 01299-828130


LYNX DIGITALL: Calls in Administrators from Hurst Morrison
----------------------------------------------------------
Name: LYNX DIGITAL LIMITED
     (Company No 01310002)

Nature of Business: Provision of Television Facilities

Trade Classification: 38

Date of Appointment: 9 August 2005

Joint Administrators' Names and Address: Gareth Wyn Roberts and
Paul William Ellison (IP Nos 1162 and 7254), both of Hurst
Morrison Thomson Corporate Recovery LLP, 5 Fairmile, Henley-on-
Thames, Oxfordshire RG9 2JR

                            *   *   *

Lynx is a media production facility based in Denham village,
west London.  Visit http://www.lynxdigital.co.uk/for more
information.

CONTACT:  LYNX DIGITAL LIMITED
          The Barn, Court Farm
          Denham Village
          Middlx, UB9 5BG
          Phone: +44 (0) 1895 83 44 33
          Fax: +44 (0) 1895 83 49 33

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


MATRIX 5: Applies for Winding-up Order
--------------------------------------
At an Extraordinary General Meeting of the Members of Matrix 5
Limited, duly convened, and held at 100-102 St James Road,
Northampton NN5 5LF, 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
Peter John Windatt and Gary Steven Pettit of BRI Business
Recovery and Insolvency, 100-102 St James Road, Northampton NN5
5LF, be and they are hereby appointed Joint Liquidators for the
purpose of the winding-up."

B Fletcher, Director

CONTACT:  MATRIX 5 LIMITED
          Unit 19, Reliance Words
          New Pound Common
          Wisborough Green
          West Sussex
          United Kingdom
          RH14 0AZ
          Phone: 01403 701985
          Fax: 01403 701919

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


MGC CADMAN: Creditors Meeting Set Friday
----------------------------------------
Notice is hereby given by John Neville Whitfield and Geoffrey
Paul Rowley, of RSM Robson Rhodes LLP, Centre City Tower, 7 Hill
Street, Birmingham B5 4UU, that a Meeting of Creditors of MGC
Cadman (UK) Ltd. (Company No 02767754), c/o RSM Robson Rhodes
LLP, Centre City Tower, 7 Hill Street, Birmingham B5 4UU, is to
be held at RSM Robson Rhodes LLP, Centre City Tower, 7 Hill
Street, Birmingham B5 4UU, on Friday 26 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.

J N Whitfield, Joint Administrator

CONTACT:  MGC Cadman Ltd.
          804 Kingsbury Road
          Erdington
          Birmingham B24 9PS
          West Midlands
          Phone: 0121 377 6020

          RSM ROBSON RHODES LLP
          Centre City Tower,
          7 Hill Street,
          Birmingham B5 4UU
          Web site: http://www.robsonrhodes.co.uk


NEW WORLD: Files for Liquidation
--------------------------------
At an Extraordinary General Meeting of New World Supplies
Limited, duly convened, and held at Butcher Woods, 79 Caroline
Street, Birmingham B3 1UP, on 3 August 2005, the following
Resolutions were duly passed, as an Extraordinary Resolution and
as an Ordinary Resolution respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same, and
that accordingly the Company be wound up voluntarily, and that
Roderick Graham Butcher, of Butcher Woods, 79 Caroline Street,
Birmingham B3 1UP, be and is hereby appointed Liquidator of the
Company for the purpose of the voluntary winding-up."

At a Meeting of Creditors held on 3 August 2005, the Creditors
confirmed the appointment of Roderick Graham Butcher as
Liquidator and that anything required or authorized to be done
by the Liquidator be done by him.

T Dean, Chairman

CONTACT:  NEW WORLD SUPPLIES LIMITED
          Bridgeman Street
          Walsall
          WS2 9PG
          West Midlands
          Phone: 01922 630171
          Fax: 01922 621674

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


NORTH FACE: Calls in Liquidator
-------------------------------
At an Extraordinary General Meeting of North Face Media Limited,
duly convened, and held at Tomlinsons, St John's Court, 72
Gartside Street, Manchester M3 3EL, on 9 August 2005, the
following Resolutions were duly passed:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable that the same be wound up
voluntarily and that the Company be wound up accordingly, and
that Alan H Tomlinson of Tomlinsons, St John's Court, 72
Gartside Street, Manchester M3 3EL, is hereby appointed as
Liquidator for the purposes of such winding-up."

At the subsequent Meeting of Creditors held on the same date,
the Resolution was ratified together with the appointment of
Alan H Tomlinson of Tomlinsons, St John's Court, 72 Gartside
Street, Manchester M3 3EL, as Liquidator of the Company.

H Thomas, Chairman

CONTACT:  NORTH FACE MEDIA LIMITED
          Chester
          Phone: 01244 661005

          NORTH FACE MEDIA LTD.
          53 Crane Street
          Cefn Mawr
          Wrexham
          North Wales
          LL14 3AB
          Phone: 01978 824825
          Fax: 01978 824925
          E-mail: jamie.thomas@northfacemedia.com

          TOMLINSONS
          St John's Court,
          72 Gartside Street, Manchester M3 3EL
          Phone: 0870 60 70 170
          Fax:   0870 60 70 180
          E-mail: advice@tomlinsons.co.uk
          Web site: http://www.tomlinsons.co.uk


OAKMARKET LIMITED: Creditors Meeting Set Friday
-----------------------------------------------
Company Names: OAKMARKET LIMITED
               (Company No 02096961)

               OAK TRANSPORT PALLETS LIMITED
               (Company No 04661669)

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 Oakmarket Limited,
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 26 August
2005, at 10:30 a.m. and 11:30 a.m. respectively.  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


PREMIER PURCHASE: Members Decide to Liquidate Firm
--------------------------------------------------
At an Extraordinary General Meeting of the Members of Premier
Purchase Card Limited, duly convened, and held at Novotel,
Walton Summitt, Bamber Bridge, Preston, Lancashire PR5 8AA, 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
Charles Michael Brook and Martin Andrew Shaw be and they are
hereby appointed Joint Liquidators for the purposes of such
winding-up."

M J Dougherty, Chairman

CONTACT:  PREMIER PURCHASE CARD LIMITED
          Premier House
          197 Kirkham Road
          Freckleton
          PR4 1HU
          Phone: 01772 631333
          Web site: http://www.premierbenefits.co.uk
          E-mail: michael@ppcuk.co.uk

          MARCHANDS ASSOCIATES LLP
          100 Wakefield Road, Lepton, Huddersfield HD8 0DL


PROFILE MEDIA: Sets EGM October 3
---------------------------------
In accordance with section 142 of the Companies Act 1985,
Profile Media Group plc has sent a notice to shareholders
convening an Extraordinary General Meeting at 10:00 a.m. on
Monday 3 October 2005 to consider what steps, if any, should be
taken to deal with the Company's net assets having fallen to
less than half of its called up share capital, as disclosed in
the Group Financial Statements for the period ended 31 December
2004 released on 30 June 2005.

                            *   *   *

Profile Media earlier noted the volatility in its share
price and the volume traded.  In July, Profile Media, now
exclusively U.K.-based, recorded revenues of not less than
GBP3.2 million (unaudited), (2004: GBP2.9 million (adjusted)),
for the six months to the 30th June 2005 and expects to announce
reduced losses with its interim results, which will be announced
no later than 16 September 2005.

The Company is in discussion with its advisers to raise
additional equity funding to exercise the previously announced
option granted by its bankers, Barclays Bank PLC, resolve other
debt issues and to provide the Company with additional working
capital to fund future trading.

It earlier sold its U.S. subsidiary Profile Pursuit Inc. to
Healthspring Communications LLC for GBP584,795, freeing Profile
Media from PPI's banking facilities involving guarantees of GBP1
million and a GBP208,000 rent deposit.

David Ellingham, Chairman & Chief Executive, recently said: "We
are emerging from a difficult period with a stronger operating
business concentrated solely in the U.K.  We continue to suffer
from the effects of previous year losses and are working to
establish the business on a solid financial base on which to
benefit from the operating improvements.  Growth opportunities
exist in the markets in which we operate.  We must ensure that
the business is positioned to take advantage of them.  We look
forward to demonstrating our progress over the coming months."

CONTACT:  PROFILE MEDIA GROUP PLC
          5th Floor, Mermaid House
          2 Puddle Dock
          London
          EC4V 3DS
          PMG
          Phone: +44 (020) 7332 2000
          Fax: +44 (020) 7332 2001
          E-mail: info@profilemediagroup.co.uk

          Press Inquiries
          Martin Chard, Finance Director
          Phone: 020 7332 2000


RAIDERS LIMITED: Meeting of Creditors Set Next Week
---------------------------------------------------
Notice is hereby given, pursuant to paragraph 51 of Schedule B1
of the Insolvency Act 1986, that a Meeting of the Creditors of
Raiders Limited will be held at Connaught House, Alexandra
Terrace, Guildford, Surrey GU1 3DA, on 30 August 2005, at 10:00
a.m., for the purposes of considering and, if thought fit,
approving the proposals of the Administrators for achieving the
aim of the Administration, and also to consider establishing,
and if thought fit, to appoint a Creditors' Committee.  A person
authorized under section 375 of the Companies Act 1985 to
represent a corporation must produce to the Chairman of the
Meeting a copy of the Resolution from which their authority is
derived.  The copy Resolution must be under seal of the
corporation, or certified by the Secretary or Director of the
corporation as a true copy.  Please note that a Creditor is
entitled to vote only if he has delivered to the Administrators,
not later than 12:00 noon on 26 August 2005, details in writing
of the debt claimed to be due from the Company, and the claim
has been duly admitted under the provisions of the Insolvency
Rules 1986, and there has been lodged with the Administrators
any proxy which the Creditor intends to be used on his behalf.

D B Coakley, Joint Administrator

CONTACT:  BDO STOY HAYWARD LLP
          Connaught House, Alexandra Terrace,
          Guildford, Surrey GU1 3DA
          Phone: 01483 565666
          Fax:   01483 531306
          E-mail: guilford@bdo.co.uk
          Web site: http://www.bdo.co.uk


RED LETTER: New Owners Win Back Debenhams' Support
--------------------------------------------------
The new owners of gift experience company Red Letter Days,
entrepreneurs Peter Jones and Theo Paphitis, have successfully
secured the vital backing of the company's largest retail
partner - Debenhams.

Red Letter Days experience vouchers will go back on sale with
immediate effect across 117 Debenhams stores.  All vouchers
purchased via Debenhams whether purchased in the past or future
will continue to be honored.

Peter Jones said: "We are delighted Debenhams is back on board.
We have worked hard to demonstrate a new vision for the business
and explained in detail the huge commitment being made by both
Theo and myself in turning this company around quickly.  This is
a major step towards meeting our objective of honoring all
customer vouchers.  We still have some work to do with a small
number of suppliers but this is a watershed moment in the effort
to get this business back on track."

The agreement with Debenhams follows news that more than 90% of
Red Letter Days experience suppliers have now agreed to work
with the new company.  This is the result of two-weeks of
continuous contact and discussions with suppliers to introduce
the new owners, agree new terms and discuss ways forward.

Mr. Jones added: "Our retail partners and suppliers are seeing
the benefits of a long-term business relationship with Red
Letter Days.  This is great news in terms of our continuing
relationship with Debenhams.

"We remain totally committed to the Red Letter Days brand and
moving the company forward."

                            *   *   *

Red Letter Days, which sells vouchers for "experiences" as
gifts, ranging from adventure trips to sports activities, fell
into administration earlier this month with undisclosed debt.

Administrators from Kroll are reportedly in discussions with
suppliers about recovering some of the cash owed by founder
Rachel Elnaugh and her management team.

Suppliers Thruxton Motorsport Centre and Everyman Motor Racing
Activities have said the firm owed them a "substantial" amount
of money, prompting them to disregard vouchers for driving
days.  Marine Connections, a marine charity that organizes boat
trips for whale and dolphin watching in Wales and Cornwall, said
it had asked solicitors to take up legal action to recover about
GBP15,000 allegedly due from Red Letter Days.  Paintballing firm
Go Ballistic has also reportedly cancelled planned events for
Red Letter Days as it was owed thousand of pounds.

The new owners of Red Letter Days have stressed Ms. Elnaugh
would no longer be involved in running the company.  Before its
administration and the eventual takeover, Red Letter Days has
already axed 17 staff, which is equal to 10% of its workforce.
Latest published figures show the company made a pre-tax loss in
2003 of GBP4.7 million.

CONTACT:  RED LETTER DAYS
          77 Muswell Hill
          Muswell Hill
          London N10 3RE
          Phone: 0870 444 4004
          Fax: 0870 444 9004
          Web site: http://www.redletterdays.co.uk


RIDGEWOOD SHIPPING: Calls in Liquidator from Moore Stephens
-----------------------------------------------------------
At an Extraordinary General Meeting of Ridgewood Shipping
Services Limited and Ridgewood Shipping (Transport) Limited duly
convened, and held at Moore Stephens Corporate Recovery,
Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB, on 3
August 2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has been proved to the satisfaction of this Meeting
that the Company cannot, by reason of its liabilities, continue
its business, and that it is advisable to wind up the same and
that accordingly the Company be wound up voluntarily, and that
Mark Elijah Thomas Bowen of Moore Stephens Corporate Recovery,
Beaufort House, 94-96 Newhall Street, Birmingham B3 1PB, be and
is hereby appointed Liquidator of the Company for the purpose of
the voluntary winding-up."

At a Meeting of Creditors held on 3 August 2005, the Creditors
confirmed the appointment of Mark Elijah Thomas Bowen as
Liquidator and that anything required or authorized to be done
by the Liquidator be done by him.

M Ruckwood, Chairman

CONTACT:  RIDGEWOOD SHIPPING SERVICES LIMITED
          The Wallows Industrial Estate
          Wallows Road, Brierley Hill
          West Midlands DY5 1QB
          Phone: 01384482426

          MOORE STEPHENS CORPORATE RECOVERY
          Beaufort House, 94-96 Newhall Street,
          Birmingham B3 1PB
          Phone: 0121 233 2557
          Web site: http://www.moorestephens.co.uk


SHEAFFIELD BUILDING: Winding-up Receives Green Light
----------------------------------------------------
Company Name: SHEAFFIELD BUILDING SERVICES LTD.
              1 Eastdale Road, Wavertree,
              Liverpool, L15 4HN
              Phone: 07734 392424

Registration Number: 04934830

Court: Birmingham District Registry

Date of Filing Petition: June 8, 2005

No. of Matter: 2537 of 2005

Date of Winding-up Order: August 1, 2005

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


SHOW PRESENTATION: Administrators from BDO Stoy Hayward Move in
---------------------------------------------------------------
Name: SHOW PRESENTATION SERVICES (HOLDINGS) LIMITED
      (Company No 03731373)

Nature of Business: Event Staging

Trade Classification: 46

Date of Appointment: 5 August 2005

Joint Administrators' Names and Addresses: Simon James Michaels
(IP No 8824/01), of BDO Stoy Hayward LLP, 8 Baker Street, London
W1U 3LL, and Martha Hanora Thompson (IP No 8678), of BDO Stoy
Hayward LLP, Kings Wharf, 20-30 Kings Road, Reading, Berkshire
RG1 3EX

CONTACT:  SHOW PRESENTATION SERVICES LTD.
          Unit 6 Northolt Trading Estate
          Northolt UB5 5QS
          Middlesex
          Phone: 0870 240 0904
          Fax: 0870 240 0905
          Web site: http://www.showpres.co.uk

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

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


SPARK ELECTRICAL: Calls in Liquidator
-------------------------------------
At an Extraordinary General Meeting of Spark Electrical
Specialists Limited, duly convened, and held at Clive Owen & Co,
140 Coniscliffe Road, Darlington DL3 7RT, 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
Edwin James Kirkwood be and is hereby appointed Liquidator for
the purposes of such winding-up."

L J White, Chairman

CONTACT:  SPARK ELECTRICAL SPECIALISTS LIMITED
          25 Hawthorn Drive, School Aycliffe, Newton Aycliffe,
          Duram DL5 6GH
          Phone: 01325 313752

          EJK ASSOCIATES LIMITED
          2 Church Court, Morley, Leeds LS27 9TN
          Phone: 0113 253 5232
          Fax: 0113 253 5953
          E-mail: edwin.kirkwood@ejkassociates.co.uk


SPRINGWELL CAR: Files for Winding-up
------------------------------------
At an Extraordinary General Meeting of Springwell Car Imports
Limited, convened, and held at 46 Moorlands Business Centre,
Balme Road, Cleckheaton BD19 4EW, on 11 August 2005, at 10:00
a.m., 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 the Meeting that
the Company cannot, by reason of its liabilities, continue its
business, and that the Company be wound up voluntarily, and that
J N Bleazard, of XL Business Solutions Ltd., 46 Moorlands
Business Centre, Balme Road, Cleckheaton BD19 4EW, be appointed
Liquidator of the Company for the purposes of the voluntary
winding-up."

J Chapman, Chairman

CONTACT:  SPRINGWELL CAR IMPORTS
          30 Springwell Road
          Leeds
          LS12 1AW
          Phone: 0113-244 3300


STAPLE TYE: Hires Begbies Traynor Administrator
-----------------------------------------------
Name: STAPLE TYE COACHWORKS LTD. (t/a PWP Coachworks)
      (Company No 04370919)

Nature of Business: Maintenance and Repair of Motors

Address of Registered Office: c/o Lawrence & Co., 22 Bell
Street, Sawbridgeworth, Hertfordshire CM21 9AN

Date of Appointment: 5 August 2005

Joint Administrators' Names and Address: Lloyd Biscoe and Jamie
Taylor (IP Nos 009141 and 002748), both of Begbies Traynor, The
Old Exchange, 234 Southchurch Road, Southend-on-Sea, Essex SS1
2EG

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


STEAD MCALPIN: Axing 62 Workers, But Not Closing
------------------------------------------------
Stead McAlpin and Company Limited has revealed plans of dropping
62 workers, following losses of up to GBP20 million in the last
five years, said The Cumberland News.

The strategy, which will affect one-fifth of the textile print
firm's 300 staff, came as a result of tough competition from the
Far East and Eastern Europe.  The poor trading at U.K.'s retail
sector also contributed to the crisis, according to company
bosses.

Managing director Chris Rogers, who took over Stead in 2002, has
already left the company amid the latest shake-up, said News &
Star in another report.  He joined the firm before the plant's
last restructuring in 2003, which saw the loss of 78 employees
in the company's effort to stem losses of GBP14 million in three
years, the paper added.

The recent move also includes changes in the factory's shift
patterns as well as production volumes and management.  It is
said that the remaining staff have been advised of a potential
closure if these measures fail.

The factory, which belongs to the John Lewis Partnership,
specializes in vat printing, dyeing and finishing of furnishing
fabrics for many of the top furniture fashion designers as well
as the John Lewis stores.

Brendan Sweeney, commercial director of John Lewis, said: "In
making this announcement we are conscious that it will come as a
disappointment to 62 of our partners, who will be directly
affected by the proposed redundancies.  We have tried to
minimize the impact on partners as well as ensuring the future
health of the business, and the jobs of all those who remain."

Talks with labor unions and factory managers are expected to
begin this week, while the final number of job cuts will be
known by September.

Some workers were said to have consoled themselves with the
thought that the factory was not closing.  One long-serving
employee said: "We all knew something had to be done because the
factory has not been making any money."

Alan McGuckin, regional industrial organizer for the Transport
and General Workers Union, said: "These are proposals that are
still subject to a level of consultation, but to be brutally
honest the company has shown a lot of faith in the area in a
very difficult market.  It is still continuing with its aim of
maintaining production in the area."

Meanwhile, bosses from John Lewis are still optimistic about the
future of the factory.  This came despite the company's
disclosure of further job cuts at its Lancashire site.

CONTACT:  STEAD MCALPIN AND COMPANY LIMITED
          Cummersdale Print Works
          Carlisle CA2 6BT
          Phone: 01228 525224
          Fax: 01228 512070
          E-mail: stead_mcalpin@johnlewis.co.uk
          Web site: http://www.steadmcalpin.co.uk


THAMES OFFICE: Members Call in Liquidator
-----------------------------------------
At an Extraordinary General Meeting of the Members of Thames
Office Products Limited, duly convened, and held at 72 London
Road, St Albans, Hertfordshire AL1 1NS, 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
Steven Leslie Smith and James Richard Harries, both of Mercer &
Hole, 72 London Road, St Albans, Hertfordshire AL1 1NS, be and
are hereby appointed Joint Liquidators for the purpose of such
winding-up."

W Walshe, Director/Chairman

CONTACT:  THAMES OFFICE PRODUCTS LIMITED
          Flaunden Lane Hemel Hempstead Hertfordshire HP3 0RL
          Phone: 01442 833334

          MERCER & HOLE
          Gloucester House
          72 London Road
          St Albans
          Hertfordshire AL1 1NS
          Phone: 01727 869141
          Fax: 01727 869149
          E-mail: stevesmith@mercerhole.co.uk


THEQSSITE.CO.UK. LTD.: In Liquidation
-------------------------------------
At an Extraordinary General Meeting of Theqssite.Co.Uk. Ltd.
held at 12 St Paul's Square, Birmingham B3 1RB, on 10 August
2005, the following Resolutions were duly passed, as an
Extraordinary Resolution and as an Ordinary Resolution
respectively:

"That it has proved to the satisfaction of the Meeting that the
Company cannot, by reason of its liabilities, continue its
business, and that it is advisable that the same be wound up
voluntarily, and that the Company be wound up accordingly, and
that P Nottingham, of Nottingham Watson Ltd., 12 St Paul's
Square, Birmingham B3 1RB, be and is hereby appointed Liquidator
for the purpose of such winding-up."

E Newton, Chairman

CONTACT:  NOTTINGHAM WATSON
          1st Floor
          12 St Paul's Square
          Birmingham
          West Midlands B3 1RB
          Phone: 0121 236 6004
          Fax: 0121 236 6011
          E-mail: pnottingham@notwat.com


T J WEBB: Winding-up Gets Court Approval
----------------------------------------
Company Name: T J WEBB CONSTRUCTION LIMITED
              32 Dorchester Road,
              Oakdale, Poole,
              Dorset, BH15 3LA
              Phone: 01202 684443

Court: Bristol District Registry

Date of Filing Petition: June 13, 2005

No. of Matter: 2444 of 2005

Date of Winding-up Order: August 3, 2005

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


TORUS SOFTWARE: Meeting of Creditors Set Today
----------------------------------------------
Notice is hereby given by John Phillip Walter Harlow, of HKM
LLP, The Old Mill, 9 Soar Lane, Leicester LE3 5DE, that a
Meeting of Creditors of Torus Software Systems Limited (Company
No 04117116), c/o HKM LLP, The Old Mill, 9 Soar Lane, Leicester
LE3 5DE, is to be held at The Strathdon, Derby Road, Nottingham
NG1 5FT, on 23 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.

J P W Harlow, Administrator

                            *   *   *

Torus Software Systems specializes in supplying UK organizations
with solutions to human resource problems.  The company produces
systems to monitor time and attendance of staff as well as
controlling access and allocating time to activities, job
costing, personnel records, holiday, absence and capacity
planning, and smoking breaks.  Visit http://www.timelink.co.uk/
for more information.

CONTACT:  TORUS SOFTWARE SYSTEMS LIMITED
          Electron House
          Bridge Street
          Sandiacre
          Notts NG10 5BA
          Phone: 0115 939 1204
          Fax: 0115 939 1201
          E-mail: support@timelink.co.uk

          HKM LLP
          The Old Mill,
          9 Soar Lane,
          Leicester LE3 5DE
          Phone: +44(0) 116 242 5100
          Fax:   +44(0) 116 242 5200
          Insolvency Fax: +44 (0) 116 242 5201
          Web site: http://www.hkm.co.uk


TRANSPLAN DEVELOPMENTS: Calls in Baker Tilly Administrator
----------------------------------------------------------
Name: TRANSPLAN DEVELOPMENTS LIMITED
      (Company No 02234986)

Nature of Business: Development and Sell Real Estate.

Address of Registered Office: 58-62 Hockliffe Street, Leighton
Buzzard, Bedfordshire LU7 1HJ.

Date of Appointment: 10 August 2005.

Joint Administrators' Names and Addresses: G.P. Bushby (IP No
8736), Baker Tilly, 5th Floor, Exchange House, 446 Midsummer
Boulevard, Central Milton Keynes MK9 2EA and G. E. Mander (IP No
8845), Baker Tilly, City Plaza, Temple Row, Birmingham B2 5AF.

CONTACT:  BAKER TILLY
          5th Floor, Exchange House,
          446 Midsummer Boulevard,
          Central Milton Keynes MK9 2EA
          Phone: 01908 687 800
          Fax:   01908 687 801
          Web site: http://www.bakertilly.co.uk

          BAKER TILLY
          3rd & 4th Floors
          Temple Plaza
          Temple Row
          Birmingham
          West Midlands B2 5AF
          Phone: 0121 214 3100
          Fax: 0121 214 3101
          E-mail: hedleybrunt@hotmail.com


TRINITY RYMAT: Administrators Take over Operation
-------------------------------------------------
Name: TRINITY RYMAT LIMITED
      (Company No 04649891)

Nature of Business: Precision Engineers

Address of Registered Office: Unit 2, Buckingham Close, Bermuda
Industrial Estate, Nuneaton, Warwickshire CV10 7JP

Date of Appointment: 8 August 2005

Joint Administrators' Names and Address: M. D. Hardy and M. T.
Coyne (IP Nos 1453 and 6575), both of Poppleton & Appleby, 35
Ludgate Hill, Birmingham B3 1EH

                            *   *   *

Trinity Rymat manufactures a wide range of components for the
automotive, aerospace, special purpose vehicle and water
industries.  It also designs and manufactures jigs and fixtures
and can provide expert knowledge and innovative solutions.
Visit http://www.trinityrymat.com/for more information.

CONTACT:  TRINITY RYMAT LIMITED
          Unit 2 Buckingham Close
          Bermuda Industrial Estate
          Nuneaton CV10 7JP
          Phone: 02476 327059
          Fax: 02476 642408
          E-mail: cs@trinityrymat.com

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


TUSCAN ENERGY: Appoints Joint Receivers
---------------------------------------
            IN THE MATTER OF THE INSOLVENCY ACT 1986

                               and

       IN THE MATTER OF Tuscan Energy (Scotland) Limited
                        (In Receivership)

We, David J. Hill and Shagun Dubey of Ballantine House, 168 West
George Street, Glasgow G2 2PT hereby give notice that we were
appointed Joint Receivers of the whole property and assets of
Tuscan Energy (Scotland) Ltd. in terms of Section 51 of the
Insolvency Act 1986 on July 20, 2005.

In terms of Section 59 of the said Act, Preferential Creditors
are required to lodge their formal claims with us within six
months of the date of this notice.

David J. Hill CA, Joint Receiver

August 1, 2005

CONTACT:  BDO STOY HAYWARD
          Ballantine House
          168 West George Street
          Glasgow, G2 2PT
          Phone: 0141 248 3761
          Fax: 0141 332 5467
          E-mail: glasgow@bdo.co.uk
          Web site: http://www.bdostoyhayward.co.uk


VERTEC LIMITED: Administrators from Leonard Curtis Move in
----------------------------------------------------------
Name: VERTEC LIMITED
      (Company No 01610581)

Nature of Business: Other Manufacture

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

Date of Appointment: 3 August 2005

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

                            *   *   *

Vertec was founded in 1982 as a spin-off from the University of
Salford, Department of Physics.  For the past 22 years our
company has provided electronics and software-based solutions to
complex control and measurement problems.  Visit
http://www.vertec.com/for more information.

CONTACT:  VERTEC LTD.
          Vertec Building, Tudor Road
          Hanover Business Park
          Altrincham WA14 5RZ
          Cheshire
          Phone: 0161 929 0696
          Fax: 0161 941 5540

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


VICTORIA FORGE: Admits Insolvency; Sends Home 30 Workers
--------------------------------------------------------
About 30 employees have lost their jobs as Victoria Forge Nelson
Ltd. admitted it was insolvent and unable to meet ongoing
commitments, said Pendle Today.

Mr. Paul Butterworth, managing director of the engineering firm,
has reportedly informed the staff of the company's financial
position, which affects salaries and related costs.

The company is expected to formally declare insolvency within
this week, pending a winding-up resolution.
PricewaterhouseCoopers is said to be handling the process.

Accountants disclosed that the bank would absorb all of the
money raised from the company, bolstering the possibility that
wages owed would not be paid, according to one worker.

He said: "I have lost GBP800 altogether through wages and notice
pay that they owe me.  The accountants said that all the money
they were getting together was going to the bank.  There would
be nothing for anyone else, and if I put in a claim I would just
be wasting a stamp."

He added that while they were aware of the problems at the
factory, they had not been advised of how the situation had
gotten worse.

He noted that the company has gone downhill since Ford pulled
out, stressing "we didn't know it was going to be at the stage
where they would just push you out and slam the door behind
you."

Meanwhile, PwC said they would not disclose any detail regarding
the firm's situation until it was officially insolvent.

CONTACT:  VICTORIA FORGE NELSON LTD.
          Black-Carr Works
          Skipton Road
          Trawden Nr. Colne
          Lancashire BB88QU
          Phone: (01282) 869659
          Fax: (01282) 865292
          Web site: http://www.vfnengineering.co.uk


XERIDYNE LIMITED: Manufacturer Hires Administrator
--------------------------------------------------
Name: XERIDYNE LIMITED
      (Company No 04375759)

Nature of Business: Manufacture Other Electrical Equipment

Address of Registered Office: 101 Woden Road West, Wednesbury,
West Midlands WS10 7TB

Trade Classification: 3162

Date of Appointment: 4 August 2005

Administrator's Name and Address: Andrew Fender (IP No 6898),
Sanderlings LLP, Sanderling House, 1071 Warwick Road, Acocks
Green, Birmingham B27 6QT

CONTACT:  XERIDYNE LIMITED
          101 Woden Road West
          Wednesbury
          West Midlands WS10 7TB
          England
          Phone: +44 121 5027300
          Fax: +44 121 5027307
          E-mail: spsales@xeridyne.com
          Web site: http://xeridyne.com/

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


XEROX CAPITAL: Fitch Upgrades Ratings of Parent
-----------------------------------------------
Fitch Ratings has upgraded Xerox Corp. and its subsidiaries'
senior unsecured debt to 'BB+' from 'BB', trust preferred
securities to 'BB-' from 'B+' and affirmed the senior secured
bank credit facility at 'BBB-'.  The Rating Outlook remains
Positive.  Approximately US$5.8 billion of securities are
affected by Fitch's action.

In addition to Xerox Corp., the ratings affected are: Xerox
Credit Corp. and Xerox Capital (Europe) plc's rated senior debt,
and Xerox Corp.'s US$1 billion senior secured bank credit
facility (US$700 million revolver and US$300 million term loan),
which is also available to Xerox Canada Capital Limited and
Xerox Capital (Europe) plc.

Fitch's rating actions and positive outlook reflect Xerox's
improved credit protection measures, adequate liquidity profile,
consistent operating and financial performance, significant
reduction in core debt, and progress in reducing both the
proportion and total dollar value of secured debt in the capital
structure.  Xerox continues to execute its operating strategy,
and despite challenging prospects for revenue growth in the near
term, Fitch expects operating performance will remain stable.
Consistent financial and operational performance and strong free
cash flow, along with continued core and secured debt reduction,
could result in further positive rating actions.

Fitch's rating concerns center on strong competition, Xerox's
inability to achieve consistent revenue growth, and lagging but
improving performance in Xerox's Developing Markets Operations
(DMO) segment, specifically Brazil.  In addition, Fitch remains
concerned about the recent gross margin deterioration in the
second quarter ended June 30, 2005 as a result of product mix
shifts in the office and production segments.  Fitch anticipates
tepid revenue growth for the remainder of 2005 with margin
pressures associated with the company's various end markets,
particularly the office and low-end printer segments.

Credit protection measures for the latest 12 months ending June
30, 2005, continue to improve, especially Xerox's core debt
metrics.  Xerox's leverage, measured by total debt to total
operating EBITDA, is estimated to be approximately 4.3 times (x)
compared to 5.1x and 5.4x for year-end 2004 and 2003,
respectively.  Similarly, Fitch estimates Xerox's core leverage
(defined as non-financing debt divided by non-financing
operating EBITDA) at June 30, 2005 declined to approximately
1.6x compared to 2.3x for fiscal 2004 and 2.7x for fiscal 2003.

In addition, the company's overall interest coverage (including
the financing segment) was 3.2x, while Fitch estimates core
interest coverage (defined as core operating EBITDA divided by
core interest expense) was approximately 4.8x for the latest 12
months ended June 30, 2005, compared to 4.1x and 3.0x for fiscal
2004 and 2003.  Fitch expects overall and core credit protection
measures to gradually improve as a result of core debt reduction
from free cash flow along with relatively flat operational
EBITDA.

The company's liquidity at June 30, 2005 consisted of more than
US$2.1 billion of cash and short-term investments, consistent
annual free cash flow above US$1.5 billion the last three years,
and an undrawn US$700 million bank facility revolver expiring
September 2008.  The bank facility is available, without sub-
limit, to Xerox and certain foreign borrowers of Xerox,
including Xerox Canada Capital Limited, Xerox Capital (Europe)
plc, and other qualified foreign subsidiaries.  Fitch believes
that Xerox has more than sufficient liquidity and financial
flexibility to meet upcoming debt maturities and absorb a
reasonable adverse monetary outcome from any currently
outstanding litigation.

To support business growth, Xerox also has access to a secured
eight-year US$5 billion credit facility provided by General
Electric Vendor Financial Services expiring in October 2010.
This facility is used for secured loans backed by U.S. finance
receivables arising from the sale of Xerox's products. At June
30, 2005, nearly US$3 billion was available under this facility.
In addition, in June 2004 Xerox arranged a three-year US$400
million revolving credit facility secured by U.S. trade
receivables with General Electric Capital Corp.; as of June 30,
2005, approximately US$172 million was drawn from this facility.

Additionally, Xerox has various multi-year committed secured
funding facilities totaling approximately US$1.8 billion, of
which approximately US$400 million was available at June 30,
2005.  Xerox will continue to access the aforementioned
financing facilities in the near term, but Fitch expects the
company to gradually reduce its reliance on these vendor
financing programs by internally funding a higher proportion of
customer financing receivables.

As of June 30, 2005, total debt was US$8.9 billion, excluding
the US$889 million of mandatorily convertible preferred stock
converting July 2006.  Total debt consists of US$3.9 billion of
senior unsecured debt, US$736 million of liabilities to
subsidiary trusts issuing preferred securities (mandatorily
redeemable in 2027), and US$4.2 billion of secured debt,
consisting primarily of a US$300 million bank term loan due
2008, US$3.7 billion secured by financing receivables, and
US$172 million secured by trade receivables.

Debt secured by finance receivables accounted for 41.1% of total
debt and Fitch believes this percentage will gradually decline
as the company reduces the proportion of secured debt in the
capital structure.  Xerox's finance receivables totaled US$7.9
billion at June 30, 2005.  Debt maturities for the second half
of 2005 are estimated to be US$884 million, of which only US$178
million is unsecured debt and the remaining amount is debt
secured by finance receivables.  Fitch believes free cash flow
along with a strong cash balance will enable the company to
manage debt maturities and other obligations. Additional cash
outlays are expected to continue in 2005 for the company's
pension plans as well as cash charges for previously announced
restructuring actions, primarily for severance payments.

CONTACT:  FITCH RATINGS
          Nick P. Nilarp, CFA
          Phone: +1-212-908-0649
          John M. Witt, CFA
          Phone: +1-212 908-0673
          Brendan Buckley, New York
          Phone: +1-212-908-0640
          Philip S. Walker, Jr., CFA
          Phone: +1-212-908-0624
          Web site: http://www.fitchratings.com

          Media Relations
          Brian Bertsch, New York
          Phone: +1-212-908-0549


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

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

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


BELGIUM
-------
City Hotels               CITY.BR     (7)         210      (15)
Real Software             REAL.BR    (49)         142      (34)
Sabena S.A.                          (86)       2,215     (297)


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


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


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


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


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


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


ITALY
-----
Binda S.p.A.              BND        (11)         129      (20)
Cirio Finanziaria S.p.A.            (422)       1,583     (396)
Credito Fondiario
   e Industriale S.p.A.             (200)       4,218      N.A.
Finpart S.p.A.                      (152)         732     (322)
Gruppo Coin S.p.A.        GC        (111)         974      (97)
I Grandi Viaagi S.p.A.    IGV.MI     (31)         533     (140)
Lazio S.p.A.              LAZI       (27)         426     (175)
Olcese S.p.A.             OLCI.MI    (13)         180      (64)
Parmalat Finanziaria
   S.p.A.                        (16,510)       5,285     (332)
Technodiffusione
   Italia S.p.A.          TDIFF.PK   (90)         152      (24)


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


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


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


ROMANIA
-------
Oltchim RM Valce          OLT        (45)         232     (321)


RUSSIA
------
Zil Auto                            (168)         409  (10,680)


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


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


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


UNITED KINGDOM
--------------
Abbott Mead Vickers                   (2)         168      (16)
Alldays Plc                         (120)         252     (202)
Amey Plc                             (49)         932      (47)
Anker PLC                 ANK.L      (22)         115       13
Avis Europe PLC           AVE.L      (24)       2,686     (420)
Bonded Coach
   Holiday Group Plc                  (6)         188      (44)
Blenheim Group                      (153)         198      (34)
Booker Plc                BKRUY      (60)       1,298       (8)
Bradstock Group           BDK         (2)         269        5
Brent Walker Group        BWL     (1,774)         867   (1,157)
British Energy Plc        BGY     (5,342)       3,438      229
British Nuclear
   Fuels Plc                      (4,248)      40,326      977
British Sky Broadcasting  BSY        (61)       4,157      139
Center Parcs (UK)
    Group Plc             CQY        (77)         423     (227)
Compass Group             CPG       (668)       2,972     (298)
Costain Group             COST       (65)         396       (4)
Danka Bus System          DNK.L      (51)         585       82
Dawson Holdings           DWN.L      (19)         142      (33)
Dignity Plc               DTY.L     (148)         485      (89)
Easynet Group             ESY.L      (45)         323       38
Electrical and Music
   Industries Group       EMI     (1,411)       3,235     (331)
Euromoney Institutional
   Investor Plc           ERM.L     (113)         236      (66)
Gallaher Group            GLH       (421)       7,866        5
Gartland Whalley                     (11)         145       (8)
Global Green Tech Group             (156)         408      (18)
Heath Lambert
   Fenchurch Group Plc               (10)       4,109      (10)
HMV Group Plc             HMV         (8)         874     (190)
Invensys PLC                        (963)       4,861      913
IPC Media Ltd.                      (685)         254       16
Jarvis Plc                JRVS.L     (26)       1,176     (182)
Jessops Plc               JSP.L      (14)         321        7
Lambert Fenchurch Group               (1)       1,827        3
Lattice Group                     (1,290)      12,410   (1,228)
Leeds United              LDSUF.PK   (73)         144      (29)
M 2003 Plc                        (2,204)       7,205     (756)
Manchester City                      (17)         154      (21)
Micro Focus
   International Plc      MCRO.L     (14)         115      (11)
Misys Plc                 MSY       (334)         906       86
Mytravel Group            MT.L    (1,613)       2,199     (463)
Orange Plc                ORNGF     (594)       2,902        7
Partygaming Plc           PRTY      (405)         263     (161)
PD Ports Plc              PDP.L     (282)         361        0
Premier Foods Plc         PFD.L      (29)       1,059       20
Probus Estates Plc        PBE.L      (28)         113      (35)
Regus Plc                 RGU.L      (46)         367      (60)
Rentokil Initial Plc      RTO     (1,072)       3,382     (264)
RHM plc                             (596)       2,411       59
Saatchi & Saatchi         SSI       (119)         705      (41)
Seton Healthcare                     (11)         157        0
SFI Group                           (108)         178     (162)
Telewest
   Communications Plc     TLWT    (3,702)       7,581   (5,361)
Virgin Mobile
   Holdings Plc           VMOB.L    (101)         278      (80)

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


                            *********


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

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

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

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

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

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


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