TCREUR_Public/051010.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

            Monday, October 10, 2005, Vol. 6, No. 200

                            Headlines

B U L G A R I A

* Oil Crisis Expected to Down Half a million Firms


G E R M A N Y

ALAMOND DIENSTLEISTUNG: Proofs of Claim Due December
CELL CONSULTING: Creditors Meeting Set February
DORE CARAVAN: Betzdorf Firm Succumbs to Bankruptcy
ESAPLAN GMBH: Calls in Interim Administrator
GENEWORX AG: Goes Belly up

HAAS FUSSBODEN: Creditors' Claims Due Next Month
HEIDELBERGCEMENT AG: 'BB+' Ratings Affirmed; Off CreditWatch
J. GERLING: Under Bankruptcy Administration
MARC ANTHONY: Claims Filing Period Ends January 20
STYLINGCLUB GMBH: Court Appoints Dr. Kuebler Administrator
VDH VERTRIEBS: Proofs of Claim Due Today
VOLKSWAGEN AG: Rebel Directors Plot Coup Against Chairman


H U N G A R Y

NABI RT: Weak Demand Hurts Nine-Month Sales


I T A L Y

ALITALIA SPA: Trade Unions Oppose New Business Plan
PARMALAT FINANZIARIA: New Group to be Lean and Mean


K Y R G Y Z S T A N

ADILET: Under Bankruptcy Supervision
GOLDEN CHAIN: Proofs of Claim Deadline Set November
OSHSKOYE PATP: Public Auction Set Next Week
SUNRE: Creditors' Claims Due November


N E T H E R L A N D S

ROYAL SHELL: Has 4,012,515,000 Remaining 'A' Shares
TELEWEST COMMUNICATIONS: U.S. Investor Strong Backer of Merger


N O R W A Y

PETROLEUM GEO-SERVICES: To Redeem US$75 Mln Notes Next Month


R O M A N I A

ROMEXTERRA BANK: Assigned 'B/B' Ratings; Outlook Stable


R U S S I A

AK BARS: Fitch Assigns Debut Eurobond Expected 'B+' Rating
AK BARS: Fitch Upgrades Long-term Rating to 'B+'
INTERNATIONAL BANK: Fitch Assigns Long-term 'B-' Rating
KROP-BEER: Creditors Have Until Next Month to File Claims
LAM-GES-AUTO-TRANS: Court Brings in Insolvency Manager

LEAGUE FB: Bankruptcy Hearing Set Next Month
NABEREZHNYE CHELNY: Under External Management Procedure
OSTROGOZHSKAYA: Deadline for Proofs of Claim Set Today
PRAVDA: Claims Filing Period Ends Today
ROGOVSKAYA: Hires A. Belikov Insolvency Manager

ROS-PRODUCT: Declared Insolvent
RUZHENA: Insolvency Manager Takes over Business
VORONEZHSKIY: Assets for Public Auction Wednesday
YUKOS OIL: Court's Decision on Dutch Assets out End of Month


S W I T Z E R L A N D

CONVERIUM HOLDING: Settles Almost US$250 Mln Debt in U.S.
CONVERIUM HOLDING: Secures Aerospace Underwriting Membership


U K R A I N E

ELIT-CLUB: Declared Insolvent
FEODOSIYA' BOAT-MECHANICAL: Bankruptcy Supervision Begins
MARIUPOL' AUTO 11428: Court Grants Debt Moratorium
MAYAK-1: Court Appoints Temporary Insolvency Manager
MTS-SERVICE: Falls into Bankruptcy

PLEMTORGEXPORT: Files for Bankruptcy Proceedings
SENTOZA OIL: Under Bankruptcy Supervision
SINDI: Harkiv Court Opens Bankruptcy Proceedings


U N I T E D   K I N G D O M

AIRFRESH (UK): Liquidator's Report out November 3
ALLSPORTS.CO.UK: Hires Administrators from BDO Stoy Hayward
ALPHA CEMENT: Final Members Meeting Set Next Month
AMG INNOVATIONS: EGM Passes Winding-up Resolution
ARTTS INTERNATIONAL: Names Administrators from Baker Tilly

BAE SYSTEMS: Brandes Gives up Remaining Stake
BARCLAYS BEAUMONT: Hires Deloitte & Touche Liquidator
BCCI: Bank of England Snubs Settlement
BOOTS GROUP: Sells Healthcare Unit to Reckitt Benckiser
BUFFALO CREATIVE: EGM Passes Winding-up Resolution

CAUSEWAY HOLDINGS: UHY Hacker Young Liquidator Enters Firm
CITYBRACE LIMITED: Debt Claims Deadline October 31
COINCRETE LIMITED: Processing Firm Calls in Administrator
COLLINS & AIKMAN: Buyer Known by Month's End
COLT TELECOM: Secures EUR15 Million Deal with Commerzbank

DAVID SAUNDERS: Calls in Joint Liquidators
DELTA FOODS: Creditors Meeting Set Next Week
DIRECT PERSONNEL: Hires Mazars to Liquidate Assets
DO YOURSELF A FAVOUR: Retailer Hires Administrator
EXPAND (GB): Goes into Liquidation

GALAXY LIFESTYLES: DTI Recommends Compulsory Liquidation
GATE GOURMET: Union Members Endorse Rescue Plan
GENEMEDIX PLC: Sells Chinese Business as Part of Restructuring
G E R LIMITED: In Liquidation
ITL COMPUTERS: Calls in Joint Liquidators

JAMES EAST: Appoints Liquidator from Phillips & Co.
J ARIF: Calls in Liquidator from Tenon Recovery
JOHN T. METCALFE: Administrator Takes over Helm
MACMILLAN LONDON: Meeting of Creditors Tomorrow
MERLIN BIOSCIENCES: Under Investigation for Possible Fraud

MG ROVER: Nanjing, SAIC Expected to Settle Row Soon
NEW INSPIRATION: Collapses into Liquidation
P.A. KEEBLE: Calls in Liquidator
PROCON DESIGN: Appoints Deloitte & Touche Liquidator
RANK GROUP: Weak Results Trigger Ratings Review

RIDGE MEDIA: Calls in Administrator from Robson Laidler
REGAL PETROLEUM: Case Against Former Unit Delayed
RIX OFF SITE: Files for Liquidation
ROMFORD & ESSEX: Names Baker Tilly Liquidator
ROYAL & SUNALLIANCE: Canadian Unit Buys Morgex Insurance

SENATOR PROJECTS: Calls in Mazars Liquidator
SNOW EAST: General Meeting Set Late October
SOUTH WEST: Appoints Liquidator
SWAN FIELDS: Packaging Firm Folds up
TDAO LIMITED: Hires Vantis Numerica as Administrator
WILLOW BRIDGE: In Liquidation
WM MORRISONS: To Name Citigroup Broker, Paul Manduca Audit Chair


                            *********


===============
B U L G A R I A
===============


* Oil Crisis Expected to Down Half a million Firms
--------------------------------------------------
Around 500,000 Bulgarian businesses are predicted to go bust amid
surging oil and energy prices, said Macedonian newspaper Vecer.

According to the paper, fuel and electricity prices have
increased by 30% and 16% respectively in recent months.  Property
tax as well as local taxes and excise on some goods are also
expected to climb.  This will cause a domino effect on expenses
of low-income individuals and families.


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


ALAMOND DIENSTLEISTUNG: Proofs of Claim Due December
----------------------------------------------------
The district court of Frankfurt am Main opened bankruptcy
proceedings against ALAMOND DIENSTLEISTUNG GmbH on September 2.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until December 21,
2005 to register their claims with court-appointed provisional
administrator Dr. Rainer Eckert.

Creditors and other interested parties are encouraged to attend
the meeting on February 1, 2006, 9:35 a.m. at the district court
of Frankfurt am Main, Saal 2, Gebaude F, Klingerstrasse 20, 60313
Frankfurt am Main, 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:  ALAMOND DIENSTLEISTUNG GmbH
          Im Vogelsgesang 5, 60488 Frankfurt am Main
          Contact:
          Yurdal Coskun, Manager

          Dr. Rainer Eckert, Administrator
          Schumannstrasse 34b, 60325 Frankfurt/Main
          Phone: 069/74748980
          Fax: 069/747489810


CELL CONSULTING: Creditors Meeting Set February
-----------------------------------------------
The district court of Frankfurt am Main opened bankruptcy
proceedings against Cell Consulting AG on September 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until December 21,
2005 to register their claims with court-appointed provisional
administrator Fatma Kreft.

Creditors and other interested parties are encouraged to attend
the meeting on February 1, 2006, 9:30 a.m. at the district court
of Frankfurt am Main, Saal 2, Gebaude F, Klingerstrasse 20, 60313
Frankfurt am Main, 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:  CELL CONSULTING AG
          Wilhelm-Leuschner-Strasse 23, 60329 Frankfurt am Main
          Contact:
          Michael Dirkes, Manager

          Fatma Kreft, Administrator
          Carl-Theodor-Reiffenstein-Platz 6, 60313
          Frankfurt am Main
          Phone: 069/67736770
          Fax: 069/677367720


DORE CARAVAN: Betzdorf Firm Succumbs to Bankruptcy
--------------------------------------------------
The district court of Betzdorf opened bankruptcy proceedings
against Dore Caravan & Freizeitcenter GmbH on September 12.
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 Jens Fahnster.

Creditors and other interested parties are encouraged to attend
the meeting on November 23, 2005, 10:00 a.m. at the district
court of Betzdorf, Saal 109 (1. Etage), Friedrichstrasse 17,
57518 Betzdorf, 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:  DORE CARAVAN & FREIZEITCENTER GmbH
          Kolner Strasse 24a, 57612 Birnbach
          Contact:
          Angelika Hildegard Boe, Manager
          Hofwiesenstr. 22, 35799 Merenberg

          Jens Fahnster, Administrator
          Kolnstrasse 135, 53757 Sankt Augustin


ESAPLAN GMBH: Calls in Interim Administrator
--------------------------------------------
The district court of Darmstadt opened bankruptcy proceedings
against ESAPLAN GmbH on September 8.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 18, 2005 to register their claims
with court-appointed provisional administrator Ulrich Bert.

Creditors and other interested parties are encouraged to attend
the meeting on November 29, 2005, 9:30 a.m. at the district court
of Darmstadt, Zimmer 109, Gebaude E, Landwehrstrasse 48, 64293
Darmstadt, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee and
or opt to appoint a new insolvency manager.

CONTACT:  ESAPLAN GmbH
          Am Morsbach 6, 64409 Messel
          Contact:
          Heinz Werner Marx, Manager

          Ulrich Bert, Administrator
          Birkenweg 24, 64295 Darmstadt
          Phone: 06151/66729-0
          Fax: 06151/66729-20


GENEWORX AG: Goes Belly up
--------------------------
The district court of Muenchen opened bankruptcy proceedings
against GENEWORX AG on September 12.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until October 21, 2005 to register their claims
with court-appointed provisional administrator Dr. Martin Prager.

Creditors and other interested parties are encouraged to attend
the meeting on November 23, 2005, 9:10 a.m. at the district court
of Muenchen, Infanteriestr. 5, Sitzungssaal 102, 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:  GENEWORX AG
          Bajuwarenring 21 in 82041 Oberhaching

          Dr. Martin Prager, Administrator
          Barthstr. 16, 80339 Muenchen
          Phone: 089/8589633
          Fax: 089/85896350


HAAS FUSSBODEN: Creditors' Claims Due Next Month
------------------------------------------------
The district court of Essen opened bankruptcy proceedings against
Haas Fussboden GmbH on September 19.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until November 3, 2005 to register their claims
with court-appointed provisional administrator Dr. Johannes
Graute.

Creditors and other interested parties are encouraged to attend
the meeting on November 18, 2005, 9:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 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:  HAAS FUSSBODEN GmbH
          Postreitweg 149, 45145 Essen
          Contact:
          Klaus Haas, Manager

          Dr. Johannes Graute, Administrator
          Kettwiger Strasse 2-10, 45127 Essen
          Phone: 02 01/10953


HEIDELBERGCEMENT AG: 'BB+' Ratings Affirmed; Off CreditWatch
------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB+' long-term
corporate credit rating on Germany-based HeidelbergCement AG,
following the completion of the cement producer's acquisition by
Spohn Cement GmbH, a company related to the Merckle family.  At
the same time, the rating was removed from CreditWatch, where it
had been placed with negative implications on June 13, 2005.  The
'B' short-term rating was affirmed.  The outlook is stable.

"The affirmation reflects our expectation that HeidelbergCement's
credit ratios will remain consistent with the 'BB+' rating,
despite the mostly debt-financed acquisition," said Standard &
Poor's credit analyst Eve Greb.

Although Standard & Poor's also analyzes the consolidated figures
(including Spohn's debt) in its analysis, the acquisition had
less of an impact on HeidelbergCement's financial profile than
initially expected.  Only a portion of Spohn's sizeable
acquisition debt will be serviced by dividend payments from
HeidelbergCement.  In addition, Standard & Poor's does not expect
profit and loss transfer agreements or other measures that
transfer debt from Spohn to HeidelbergCement to be implemented.
Dividend payments could increase, however, if other sources of
Spohn debt repayment do not materialize as expected.  This could
delay the improvement of the company's credit protection measures
anticipated before the acquisition.

HeidelbergCement's unadjusted net debt was EUR3.9 billion (US$4.7
billion) at June 30, 2005.

Standard & Poor's expects near-term trading prospects to remain
positive in North America, Eastern Europe, and Asia. This should
offset the negative trading environment in Germany and higher
expected dividend payouts.  Credit protection measures are
expected to stay in line with the rating, with funds from
operations to net debt at about 20%, and net debt to capital at
less than
50%.

"Additional contributions to service Spohn's debt, significant
debt-financed acquisitions, or renewed pricing pressures in
Germany, in particular, could trigger an outlook revision to
negative or even a downgrade," said Ms. Greb.  "A revision of the
outlook to positive is unlikely in the medium term, given Spohn's
high leverage."

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:  HEIDELBERGCEMENT AG
          Berliner Strasse 6
          69120 Heidelberg
          Phone: +49-6221-481-227
          Fax: +49-6221-481-217
          Web site: http://www.heidelbergcement.com


J. GERLING: Under Bankruptcy Administration
-------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against J. Gerling Dachdeckerei GmbH on September 16.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until November 4, 2005
to register their claims with court-appointed provisional
administrator Jochen Schnake.

Creditors and other interested parties are encouraged to attend
the meeting on November 25, 2005, 10:00 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, 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:  J. GERLING DACHDECKEREI GmbH
          Zeltweg 7, 32139 Spenge
          Contact:
          Gabriele Gerling, Manager

          Jochen Schnake, Administrator
          Ravensberger Str. 12, 33824 Werther


MARC ANTHONY: Claims Filing Period Ends January 20
--------------------------------------------------
The district court of Frankfurt am Main opened bankruptcy
proceedings against Marc Anthony Frankfurt GmbH on September 12.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until January 20, 2006
to register their claims with court-appointed provisional
administrator Dr. Holger Lessing.

Creditors and other interested parties are encouraged to attend
the meeting on February 14, 2006, 9:55 a.m. at the district court
of Frankfurt am Main, Saal 2, Gebaude F, Klingerstrasse 20, 60313
Frankfurt am Main, 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:  MARC ANTHONY FRANKFURT GmbH
          Hanauer Landstrasse 184, 60314 Frankfurt am Main
          Contact:
          Marc Anthony, Manager
          Kletkamp 2, 24327 Kletkamp
          Dorothea Waag, Manager
          Hainer Trift 15, 63303 Dreieich

          Dr. Holger Lessing, Administrator
          Hanauer Landstrasse 287-289, D-60314
          Frankfurt am Main
          Phone: 069/15051300
          Fax: 069/15051400


STYLINGCLUB GMBH: Court Appoints Dr. Kuebler Administrator
----------------------------------------------------------
The district court of Muenchen opened bankruptcy proceedings
against Stylingclub GmbH on September 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until October 24, 2005 to register their
claims with court-appointed provisional administrator Dr. Bruno
Kuebler.

Creditors and other interested parties are encouraged to attend
the meeting on November 24, 2005, 11:00 a.m. at the district
court of Muenchen, Infanteriestr. 5, Sitzungssaal 102, 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:  STYLINGCLUB GmbH
          Amalienstr. 91 in 80799 Muenchen

          Dr. Bruno Kuebler, Administrator
          Konrad-Zuse-Platz 1, 81829 Muenchen
          Phone: 99299-0
          Fax: 99299-299


VDH VERTRIEBS: Proofs of Claim Due Today
----------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against VDH Vertriebs-, Dienstleistungs- und Handelsgesellschaft
mbH i. L. on September 2.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until October 10, 2005 to register their claims with
court-appointed provisional administrator Sylvia Fiebig.

Creditors and other interested parties are encouraged to attend
the meeting on November 11, 2005, 10:55 a.m. at the district
court of Hamburg, Insolvenzgericht, Weidestrasse 122 d, 22083
Hamburg, Saal 1, 2. Ebene (Zi. 2.18), at which time the
administrator will present his first report of the insolvency
proceedings.  The court will also verify the claims set out in
the administrator's report during this meeting, while creditors
may constitute a creditors committee and or opt to appoint a new
insolvency manager.

CONTACT:  VDH VERTRIEBS-, DIENSTLEISTUNGS- und
          HANDELSGESELLSCHAFT mbH i. L.
          Hakenstrasse 8-10, 21107 Hamburg
          Contact:
          Max Weiss, Manager

          Sylvia Fiebig, Administrator
          Jungfernstieg 51, 20354 Hamburg
          Phone: 040/808136-400
          Fax: 040/808136-250


VOLKSWAGEN AG: Rebel Directors Plot Coup Against Chairman
---------------------------------------------------------
Volkswagen AG directors will oust Chairman Ferdinand Piech this
week in protest to the plan by Porsche to raise its stake in the
company, the Financial Times says.

According to one supervisory board member and another person
close to the board, half of the 10 shareholder-directors are
opposed to the plan.  They accordingly have the support of two
representatives of Lower Saxony, the carmaker's biggest investor.

Earlier, Reuters reported that Volkswagen has welcomed Porsche's
intention to raise its shareholding in the company from under 5%
to 20%.  The plan will preserve the carmakers' business relations
with Porsche and protect Volkswagen from any hostile takeover.
Porsche is controlled by Mr. Piech's family.

Chief Executive Bernd Pischetsrieder has stressed the company's
need for a steady shareholder structure to fulfill long-term
goals.  He added the increase in Porsche's stake could strengthen
their working relations.

Meanwhile, Fitch Ratings has said an increase in Porsche's stake
in Volkswagen may improve bondholders' long-term protection
despite corporate governance issues.

Markus Leitner, director in Fitch's European Industrials team,
said: "With the increased Porsche ownership, (Volkswagen) has
increased its protection from takeover, reducing the risk of a
lower-rated company gaining control."

Fitch noted Porsche's greater dominance could reduce the
influence of many institutional investors, which have been urging
Volkswagen to carry out corporate restructuring to improve
results.  With the proposed 20% stake, Porsche intends to secure
its long-term cooperation with Volkswagen, which is an important
development partner with and significant supplier for Porsche.
The two companies are working together to build Porsche's Cayenne
offroader, and in developing fuel-saving hybrid technology.

CONTACT:  VOLKSWAGEN AG
          Brieffach 1848-2
          38436 Wolfsburg, Germany
          Phone: +49 53 61 90
          Fax: +49 53 61 92 82 82
          Web site: http://www.volkswagen.de

          PORSCHE AG
          Porscheplatz 1
          D-70435 Stuttgart, Germany
          Phone: +49-711-911-0
          Fax: +49-711-911-5777
          Web site: http://www.porsche.com


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


NABI RT: Weak Demand Hurts Nine-Month Sales
-------------------------------------------
Sales performance on the U.S. market was weaker than expected due
to vendor delays in supplying carbon fiber CNG tanks used for the
60-BRT.  This resulted in late bus deliveries to customers.  The
decline in CompoBus sales can be attributed to the cessation of
the production in NABI Rt's composite facility in Kaposvar.

For the U.S. market, new legislation was enacted to guarantee
federal funding for transportation projects over the next six
years.  On August 10, 2005, President Bush signed the Safe,
Accountable, Flexible, and Efficient Transportation Equity Act -
A Legacy for Users (SAFETEA-LU), providing US$286.4 billion in
guaranteed funding for federal surface transportation programs
over six years through FY 2009, including US$52.6 billion for
public transportation projects - a 46% increase over transit
funding guaranteed in TEA 21, the U.S. market's previous funding
legislation.

As of September 30 2005, NABI's order book contained 473 firm
orders in the U.S.A.  Approximately 640 buses can be ordered
under options.

CONTACT:  NABI RT.
          45 Ujszasz u.
          Budapest 1165
          Phone: +36-1-401-7399
          Fax: +36-1-407-2931
          E-mail: nabihq@nabi.hu
          Web site: http://www.nabi.hu

          Andras Bodor, Corporate Affairs Director
          Phone: +36-1-401-7100
          Fax: +36-1-407-2931
          E-mail: andras.bodor@nabi.hu


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


ALITALIA SPA: Trade Unions Oppose New Business Plan
---------------------------------------------------
Trade unions vow to oppose additional job cuts being proposed to
make Alitalia attractive to investors, AFX News says.

The airline is revising its business plan to account for material
changes in its operating environment triggered by surging fuel
costs.  Sources say the revised plan proposes EUR550 million in
additional cost savings, of which EUR180 million will come from
job cuts.

UGL union leader Roberto Panella blasted the new plan. "We said
several times that we will not make concessions on labour any
more.  The new business plan is focused obsessively on cuts on
labour costs," he said.

Chairman Giancarlo Cimoli is also considering the possibility of
mortgaging aircraft to raise EUR480 million in additional cash,
the report says.

Banks underwriting Alitalia's EUR1.2 billion rights issue had
sought changes to the business plan, believing investors will
snub the recapitalization without a clear idea of how the airline
will survive the oil crisis.  The review has already delayed the
issue and caused the government to miss the October 8 deadline
set by the European Commission to reduce its stake in the airline
below 50%.  Alitalia is expected to unveil the new plan this
week.

                        About the Company

Headquartered in Viale A. Marchetti 111, 00148 Rome, Italy,
Alitalia S.p.A. -- http://www.alitalia.it-- generates more than
EUR4 billion in annual revenue and employs more than 20,000
people.  As of December 2004, its net debt stood at EUR1.76
billion in 2004.  Alitalia flies to about 80 destinations in more
than 60 countries from its hubs in Rome and Milan and operates a
fleet of 185 aircraft.  Despite a EUR1.4 billion state-backed
restructuring in 1997 and a EUR1.4 billion capital injection two
years ago, the carrier remains in deep financial crisis.
Alitalia has posted annual profit only four times in the past 16
years.  A turnaround plan approved late 2004 will split the
airline's flight and ground operations, paving the way for its
privatization.  Banca Intesa S.p.A. and Deutsche Bank will
underwrite a EUR1.2 billion rights issue to finance the
restructuring.

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


PARMALAT FINANZIARIA: New Group to be Lean and Mean
---------------------------------------------------
The new Parmalat will gradually dispose of non-strategic assets
to focus on 30 key brands, operations head Carlo Prevedini told
analysts last week.

He said Parmalat will focus on innovative and high value-added
products to raise gross operating margin to 11.6% of sales by
2007.  The initiative will not result in significant disposals,
he said, but it will be coupled by cost cutting, strengthening of
the central organization and streamlining of logistics and
distribution channels.

For 2005, Parmalat upped it previous sales estimate of EUR3.554
billion to EUR3.782 billion.  It expects to post EUR302 million
in gross operating profit.  This estimate does not account the
bakery business, which Vicenzi Biscotti S.p.A. has agreed to buy
for EUR19 million.  For 2007, it forecasts sales of EUR3.895
billion and gross operating profit of EUR454 million.

Mr. Prevedini said Parmalat managed to maintain its leading
market share despite its two-year debt restructuring.  Canada,
meanwhile, has overtaken Italy as Parmalat's largest market.
This year, Canadian sales is expected to increase by 10.8% to
EUR1.315 billion and gross operating profit by 17% to EUR102.3
million.  The Italian sales is only expected to grow 1.6% to
EUR1.135 billion and gross operating profit by 7% to EUR96.2
million.

Enrico Bondi, Parmalat's court-appointed administrator, said the
group remains a "work in progress," but he is confident Parmalat
will achieve financial targets.  He declined to reveal future
strategic moves, but revealed his work ends when Parmalat
shareholders elect a new board.  They will meet November 7.

Parmalat returned to the Milan Stock Exchange Thursday, after
almost two years of absence.  Former bondholders, banks and
suppliers now own majority of the company after a EUR20 billion
debt-to-equity swap.

CONTACT:  PARMALAT FINANZIARIA S.p.A.
          Legal Seat
          43044 Collecchio (Pr)
          Via Oreste Grassi, 26

          Administrative Seat
          20122 Milan
          Piazza Erculea, 9
          Phone: +39 02 806 8801
          Fax: +39 02 869 3863
          Web site: http://www.parmalat.net


===================
K Y R G Y Z S T A N
===================


ADILET: Under Bankruptcy Supervision
-------------------------------------
The Arbitrage of Osh region has commenced bankruptcy supervision
procedure on Agricultural Farm Adilet.  The case is docketed as
0-05-257/C6pr-02.  Mr. Akylbek Jarkybayev has been appointed
temporary insolvency manager.  Creditors will meet at Osh region,
Gulcha, Office of the State Taxation Inspection of Alaisk
district on October 28, 2005, 11:00 a.m.

Creditors must submit their proofs of claim and register with the
temporary insolvency manager seven days prior to the meeting.
Proxies must have authorization to vote.

CONTACT:  Mr. Akylbek Jarkybayev
          Temporary Insolvency Manager
          Phone: (0-502) 39-36-28


GOLDEN CHAIN: Proofs of Claim Deadline Set November
---------------------------------------------------
LLC Golden Chain, which recently declared insolvency, will accept
proofs of claim until November 29, 2005.  Call (0-312) 62-16-80
for more information.


OSHSKOYE PATP: Public Auction Set Next Week
-------------------------------------------
The bidding organizer and insolvency manager of JSC Oshskoye
PATP-2 will sell LLC Avtopredpriatie Zapadnoye's 100% share on
October 18, 2005, 10:00 a.m. at Osh, Zapadnaya Str. 4.  Starting
price is KGS9,048,400 (exclusive of VAT).

To participate, bidders must register and deposit an amount
equivalent to 10% of the starting price on or before October 17,
2005, 12:00 noon.  Call (0-32-22) 7-64-52, (0-502) 54-88-44 or
22-47-27 for more information.


SUNRE: Creditors' Claims Due November
-------------------------------------
LLC Sunre, which recently declared insolvency, will accept proofs
of claim at Bishkek, Vinogradnaya Str. 2 until November 29, 2005.

CONTACT:  SUNRE
          Bishkek,
          Vinogradnaya Str. 2


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


ROYAL SHELL: Has 4,012,515,000 Remaining 'A' Shares
---------------------------------------------------
On 6 October 2005, Royal Dutch Shell plc purchased for
cancellation 1,100,000 'A' Shares at a price of EUR26.08 per
share.  It further purchased for cancellation 450,000 'A' Shares
at a price of 1,780.41 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 4,012,515,000.

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

                            *   *   *

Shell's buyback scheme is understood to be aimed at reviving
shareholders' and investors' confidence.  The buyback program
follows a damaging reserves overestimation scandal last year.

                        About the Company

Royal Dutch Shell plc is incorporated in England and Wales, has
its headquarters in The Hague and is listed on the London,
Amsterdam, and New York stock exchanges.  Shell companies have
operations in more than 145 countries with businesses including
oil and gas exploration and production; production and marketing
of Liquefied Natural Gas and Gas to Liquids; manufacturing,
marketing and shipping of oil products and chemicals and
renewable energy projects including wind and solar power.

                           The Trouble

Shell admitted overstating its proved reserves by almost 6.0
billion barrels between January 2004 and February this year.
This led to the ouster of three top executives, including former
Chairman Philip Watts.  The company was fined EUR150 million in
total after investigations launched by U.S. and British
regulators.  Shell has since revised the method by which it
calculates reserves to comply with U.S. regulations.  Shell's
proved reserves stood at 10.2 billion barrels at the end of
2004.

CONTACT:  ROYAL DUTCH/SHELL GROUP OF COMPANIES
          Carel van Bylandtlaan 30
          2596 HR The Hague
          The Netherlands
          Phone: +31 70 377 9111
          Fax: +31 70 377 3115
          Web site: http://www.shell.com


TELEWEST COMMUNICATIONS: U.S. Investor Strong Backer of Merger
--------------------------------------------------------------
U.S. distressed-debt investor William Huff is a major influence
behind the merger of European cable operators NTL Inc. and
Telewest Communications plc, industry sources say.

Mr. Huff became a major shareholder of the companies after their
restructurings in recent years.  In NTL, he and other bondholders
agreed to a US$10.6 billion debt-for-equity swap in 2002 that
gave them control of the company.  In 2003, he led talks
concerning massive debt restructuring at Telewest that gave
debtholders control over the cable company.  He now owns 17% of
Telewest and 10% of NTL.  He served as board member of NTL since
January 2003 and as interim chairman between January and March
2003.

The Deal reports he is acting in the US$6 billion merger of
Telewest and NTL through his hedge fund WR Huff Asset Management
Co. LLC of Morristown, N.J.  He was able to mobilize a group of
large shareholders that own stakes in both NTL and Telewest to
push for the merger.  With him are Franklin Resources Inc. of San
Mateo, Calif., and FMR Corp. (Fidelity Investments), of Boston,
Mass., sources say.

As of June, FMR owns 10% stake in Telewest, while Franklin had
8.2%.  In the same month, FMR held approximately 11% of NTL,
while Franklin had 8.1%.

WR Huff portfolio manager William Connors has been a Telewest
director since 2003.

CONTACT:  TELEWEST COMMUNICATIONS PLC
          160 Great Portland Street
          London W1W 5QA
          Phone: 020 7299 5479
          Fax: 020 7299 5494
          Web site: http://www.telewest.co.uk

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


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


PETROLEUM GEO-SERVICES: To Redeem US$75 Mln Notes Next Month
------------------------------------------------------------
Petroleum Geo-Services A.S.A. has sent a notice of redemption
relating to the remaining US$75 million of its 8% Senior Notes,
due 2006.

The Notes will be redeemed on November 5, 2005 at a redemption
price equal to 101.00% of the principal amount of such Notes,
plus accrued and unpaid interest to the redemption date.

This debt redemption is in line with PGS previously announced
intention of using a portion of its cash position to reduce debt.

                        About the Company

Petroleum Geo-Services is a technologically focused oilfield
service company principally involved in geophysical and floating
production services.  PGS provides a broad range of seismic and
reservoir services, including acquisition, processing,
interpretation, and field evaluation.  PGS owns and operates four
floating production, storage and offloading units (FPSOs).  PGS
operates on a worldwide basis with headquarters at Lysaker,
Norway.

The company filed for chapter 11 protection on July 29, 2003
(Bankr. S.D.N.Y. Case No. 03-14786).  When the company filed for
bankruptcy, it disclosed assets amounting to US$3,686,621,000 and
debt amounting to US$2,444,341,000.  The case was closed in May
2, 2005, but the firm remains in Bloomberg's list of companies
with insolvent balance sheets.  In May, Standard & Poor's Ratings
Services assigned its 'B+' rating and its 'B+' senior unsecured
rating to the company.  The outlook is stable.

CONTACT: PETROLEUM GEO-SERVICES A.S.A.
         Strandveien 4
         PO.BOX 89
         N-1326 Lysaker, Norway
         Phone: +47 67 52 64 00
         Fax: +47 67 52 64 64
         Web site: http://www.pgs.com


=============
R O M A N I A
=============


ROMEXTERRA BANK: Assigned 'B/B' Ratings; Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B/B'
counterparty credit and certificate of deposit ratings to
Romania-based Romexterra Bank.  The outlook is stable.

The ratings on Romexterra Bank are constrained by its small
market position, limited track record, and untested new strategy.
Other constraining factors are increasing competition in the
sector--particularly from foreign banks--pressurized margins, and
a moderate level of disclosure.  Furthermore, industry and
economic risks in Romania remain high.  The factor supporting the
bank's credit profile is its satisfactory financial position,
including adequate capitalization and liquidity, although they
are expected to tighten in line with business growth.

Romexterra is a small commercial bank ranking among the top-20
banks in Romania, with a market share of about 1%.  It was
originally set up as a house bank for companies from the oil and
gas sector.  Its current shareholders include large state-owned
companies, private companies, and individuals.  The bank is still
mostly a wholesale bank, but its strategy is changing.
Romexterra faces limitations in meeting the needs of large
corporate clients, where it faces strong competition.  It
therefore competes on quality and speed of services (including
through its Internet banking products).  Romexterra recently
developed its retail banking department as part of its strategy
to become a more diversified commercial bank. Its aim is to widen
its presence across the country, and develop alternative
distribution channels and card operations.

"We expect that Romexterra's franchise and market position will
continue to improve, enabling the bank to sustain business and
revenue growth," said Standard & Poor's credit analyst Magar
Kouyoumdjian.  "Future creditworthiness will depend on the
success of managing growth, while meeting competitive challenges,
and maintaining relatively clean assets, and adequate liquidity
and capitalization," he added.  Like most of its peers, the bank
is also vulnerable to unlikely, but potential, adverse changes in
the economy and any consequent increase in problem loans.

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:  ROMEXTERRA BANK
          Jud Mures, Targu Mures,
          Bd. 1 Decembrie 1918, nr. 93, Cod 540445
          Phone: +40 265 26 66 41/+40 265 26 66 44/
                 +40 265 26 91 34
          Fax: +40 265 26 60 47
          E-mail: info@romexterra.ro
          Web site: http://www.romexterra.ro/


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


AK BARS: Fitch Assigns Debut Eurobond Expected 'B+' Rating
----------------------------------------------------------
Fitch Ratings has assigned Ak Bars Finance S.A.'s upcoming issue
of limited recourse loan participation notes an expected
Long-term 'B+' rating.  The notes are to be used solely for
financing a loan to Russia's Ak Bars Bank, which is rated
Long-term 'B+', Short-term 'B', Individual 'D', and Support '4'
and National Long-term 'A-(rus)'.  The Outlooks on both the
Long-term and the National Long-term ratings are Stable.

Ak Bars Finance S.A., a Luxembourg-domiciled special purpose
vehicle (SPV), will only pay noteholders principal and interest
received from Ak Bars.  The final rating is contingent upon
receipt of final documentation conforming materially to
information already received.

The SPV's claims under the loan agreement will rank at least pari
passu with the claims of other senior unsecured creditors of Ak
Bars, save those preferred by relevant legislation. Under Russian
law, the claims of retail depositors rank above those of other
senior unsecured creditors.  At end-H105, retail deposits
accounted for 24% of Ak Bars' total liabilities, according to the
bank's reviewed IFRS accounts.

Covenants under the loan agreement with the SPV prevent Ak Bars
from entering into transactions of 10% of Ak Bars' gross assets
or more during a 12-month period on other than market terms,
restrict dividend payments and voluntary redemptions of capital
and subordinated debt to 50% of annual net income, and oblige the
bank to maintain a total capital ratio of at least 12%, as
calculated in accordance with the Basel recommendations.

Additionally, noteholders will receive a put option if the
Republic of Tatarstan (rated 'BB') ceases to control 50% or more
of voting shares in Ak Bars, resulting in a rating downgrade. The
terms and conditions of the notes also contain a cross default
clause and a negative pledge clause, the latter of which allows
for a degree of securitization by Ak Bars.  Should any
securitization be undertaken, Fitch comments that the nature and
extent of any overcollateralization would be assessed by the
agency for any potential impact on unsecured creditors.

Ak Bars was founded by the government of Republic of Tatarstan in
1993.  It is the largest bank in the region by assets and one of
the 20 largest Russian banks.  The government ultimately
controls, through ministries, government agencies and related
companies, around 93% of the bank's voting shares.

CONTACT:  AK BARS BANK
          Roustem Khadioulline, Deputy CEO
          Phone: +7 095 7377302
          Fax: +7 095 2342178
          E-mail: rkhadioulline@akbars.ru

          FITCH RATINGS
          Alexei Kechko
          James Watson, Moscow
          Phone: +7 095 956 9901
          Web site: http://www.fitchratings.com

          Media Relations
          Julian Dennison, London
          Phone: +44 20 7862 4080


AK BARS: Fitch Upgrades Long-term Rating to 'B+'
------------------------------------------------
Fitch Ratings has upgraded Russia-based Ak Bars Bank's ratings to
Long-term 'B+' from 'B' and National Long-term 'A-(rus)' from
'BBB(rus)'.  At the same time, the agency has affirmed the bank's
other ratings at Short-term 'B', Support '4' and Individual 'D'.
The Outlooks on the Long-term and the National Long-term ratings
are Stable.

The upgrade reflects Fitch's revised view that there is a higher
likelihood of support for Ak Bars, in case of need, being
forthcoming from the Republic of Tatarstan (rated Long-term
'BB').  This view takes into account the recent disclosure by Ak
Bars' senior management, contained in the bank's H105 reviewed
IFRS financial statements, that the Republic ultimately controls,
through ministries, government agencies and related companies,
approximately 93% of the bank's voting shares.  In addition, the
Republic holds its accounts with Ak Bars, is strongly represented
on the bank's Supervisory Council, and regards Ak Bars as
important to the economy of the region.

The Individual rating continues to reflect the bank's weak
profitability, high concentration levels, increasing market risk
and weaknesses in the operating environment, while also
considering the bank's currently strong capitalization and solid
niche in the Republic.

Upward pressure on Ak Bars' Long-term and National Long-term
ratings could result from an upgrade of the Republic's Long-term
rating or a substantial increase in its directly held stake in
the bank.  Downward pressure could result from a downgrade of the
Republic's Long-term rating or a reduction in the ties between
the Republic and Ak Bars.

Ak Bars was founded by the government of the Republic of
Tatarstan in 1993.  It is the largest bank in the region by
assets and one of the 20 largest banks in Russia.  Most of Ak
Bars' business is concentrated in its home region, although it is
also expanding outside the Republic.

CONTACT:  AK BARS BANK
          Roustem Khadioulline, Deputy CEO
          Phone: +7 095 7377302
          Fax: +7 095 2342178
          E-mail: rkhadioulline@akbars.ru

          FITCH RATINGS
          Alexei Kechko, Moscow
          Phone: +7 095 956 9901
          James Watson
          Phone: +7 095 956 9901
          Web site: http://www.fitchratings.com

          Media Relations
          Julian Dennison, London
          Phone: +44 20 7862 4080


INTERNATIONAL BANK: Fitch Assigns Long-term 'B-' Rating
-------------------------------------------------------
Fitch Ratings has assigned Russia's International Bank of St.
Petersburg (IBSP) ratings of Long-term 'B-' (B minus), Short-term
'B', Individual 'D/E', Support '5' and National Long-term
'BB(rus)'.  The Outlooks on the Long-term and the National
Long-term ratings are Stable.

The Long-term, Short-term and Individual ratings reflect IBSP's
size and franchise, which are small by international standards,
and the risks associated with the concentration of its loan book
and large investments in securities.  They also take into account
its weak performance and certain weaknesses in the operating
environment.  However, the ratings also factor in the bank's
relatively good asset quality to date and adequate liquidity.

Upside potential to the ratings could result from the successful
expansion of the bank's franchise, including through further
development of its higher-yielding leasing business,
diversification of revenues, stronger performance, an improvement
in the bank's liquidity position and an extension of the tenor of
funding.

Downward pressure on the ratings could result from deterioration
in asset quality, a reduction in capital adequacy ratios below
targeted levels, loss of key management, including the chairman
(Sergey Bazhanov), or a return to high levels of speculative
securities trading.

IBSP is controlled and 71%-owned by its chairman.  It ranks
eighth by total assets in St. Petersburg, although it was only
the 66th-largest bank in Russia at end-H105.  Corporate lending
is IBSP's main focus, and the bank is also developing leasing
operations.  The IBSP group has its head office in St. Petersburg
and branches in Moscow, Volgograd and Samara.

CONTACT:  INTERNATIONAL BANK OF ST. PETERSBURG
          5, Krapivny pereulok, Saint-Petersburg
          194044 Russia
          Phone: +7 (812) 118 3246
          Fax: +7 (812) 301 9432
          E-mail: mail@ibsp.ru
          Web site: http://www.ibsp.ru

          FITCH RATINGS
          Alexei Kechko
          Vladlen Kuznetsov
          James Watson, Moscow
          Phone: +7 095 956 9901
          Web site: http://www.fitchratings.com

          Media Relations
          Julian Dennison, London
          Phone: +44 20 7862 4080


KROP-BEER: Creditors Have Until Next Month to File Claims
---------------------------------------------------------
The Arbitration Court of Krasnodar region commenced bankruptcy
proceedings against Krop-Beer (TIN 2313003557) after finding the
open joint stock company insolvent.  The case is docketed as
A-32-35710/2004-27/221-B.  Mr. Y. Mishenko has been appointed
insolvency manager.  Creditors have until November 10, 2005 to
submit their proofs of claim to 352192, Russia, Krasnodar region,
Gulkevichi, Post User Box 38.

CONTACT:  KROP-BEER
          Russia, Krasnodar region,
          Kropotkin, Redkodubnyj Per. 10

          Mr. Y. Mishenko
          Insolvency Manager
          352192, Russia, Krasnodar region,
          Gulkevichi, Post User Box 38


LAM-GES-AUTO-TRANS: Court Brings in Insolvency Manager
------------------------------------------------------
The Arbitration Court of Tatarstan republic has commenced
bankruptcy supervision procedure on limited liability company
Lam-Ges-Auto-Trans.  The case is docketed as
A65-16807/2005-SG4-16.  Mr. L. Peshkov has been appointed
temporary insolvency manager.

Creditors may submit their proofs of claim to 423807, Russia,
Tatarstan republic, Naberezhnye Chelny, Gidrostroiteley Str. 17,
Post User Box 131.  A hearing will take place on December 13,
2005, 10:00 a.m.

CONTACT:  LAM-GES-AUTO-TRANS
          423807, Russia, Tatarstan republic, Naberezhnye
          Chelny, Gidrostroiteley Str. 17, Post User Box 131

          Mr. L. Peshkov
          Temporary Insolvency Manager
          423807, Russia, Tatarstan republic, Naberezhnye
          Chelny, Gidrostroiteley Str. 17, Post User Box 131


LEAGUE FB: Bankruptcy Hearing Set Next Month
--------------------------------------------
The Arbitration Court of Udmurtiya republic has commenced
bankruptcy supervision procedure on financial company League FB.
The case is docketed as A71-41/2005-G26.  Mr. G. Ustinov has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 426067, Russia,
Udmurtiya republic, Izhevsk, Post User Box 2417.  A hearing will
take place on November 3, 2005, 9:30 a.m.

CONTACT:  LEAGUE FB
          426034, Russia, Udmurtiya republic,
          Izhevsk, Likhvintseva Str. 46

          Mr. G. Ustinov
          Temporary Insolvency Manager
          426067, Russia, Udmurtiya republic,
          Izhevsk, Post User Box 2417


NABEREZHNYE CHELNY: Under External Management Procedure
-------------------------------------------------------
The Arbitration Court of Tatarstan republic has commenced
external management bankruptcy procedure on river port
Naberezhnye Chelny (TIN 1650071561).  The case is docketed as
A65-6981/2003-SG4-31.  Mr. V. Gerasimov has been appointed
external insolvency manager.

CONTACT:  NABEREZHNYE CHELNY
          423807, Russia, Tatarstan republic,
          Naberezhnye Chelny, Komsomolskaya Quay, Str. 34

          The Arbitration Court of Tatarstan republic
          420014, Russia, Tatarstan republic,
          Kazan, Kremlin


OSTROGOZHSKAYA: Deadline for Proofs of Claim Set Today
------------------------------------------------------
The Arbitration Court of Voronezh region commenced bankruptcy
proceedings against Ostrogozhskaya after finding the movable
mechanized column-2 insolvent.  The case is docketed as
A14-4121-2005/35/16b.  Mr. R. Gura has been appointed insolvency
manager.  Creditors have until November 10, 2005 to submit their
proofs of claim to Russia, Voronezh, Srednemoskovskaya Str. 6a.

CONTACT:  OSTROGOZHSKAYA
          Russia, Voronezh region,
          Ostrogozhsk, K. Marksa Str. 3a

          Mr. R. Gura
          Insolvency Manager
          Russia, Voronezh region,
          Srednemoskovskaya Str. 6


PRAVDA: Claims Filing Period Ends Today
---------------------------------------
The Arbitration Court of Udmurtiya republic has commenced
bankruptcy supervision procedure on open joint stock company
Pravda.  The case is docketed as A71-86/05-G21.  Mr. V. Telitsyn
has been appointed temporary insolvency manager.  Creditors have
until October 10, 2005 to submit their proofs of claim to 427008,
Russia, Udmurtiya republic, Zavyalovskiy region, Sovkhoznyj,
Vostochnaya Str. 39a.

CONTACT:  PRAVDA:
          427008, Russia, Udmurtiya republic,
          Zavyalovskiy region, Sovkhoznyj

          Mr. V. Telitsyn
          Temporary Insolvency Manager
          427008, Russia, Udmurtiya republic, Zavyalovskiy
          region, Sovkhoznyj, Vostochnaya Str. 39a


ROGOVSKAYA: Hires A. Belikov Insolvency Manager
-----------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on agro company Rogovskaya (TIN
2353017570).  The case is docketed as A-32-19193/2005-44/276B.
Mr. A. Belikov has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 350058, Russia,
Krasnodar, Tramvaynaya Str. 1/1.

CONTACT:  ROGOVSKAYA
          352725, Russia, Krasnodar region,
          Timashevskiy region, Rogovskaya St. Lenina Str. 86

          Mr. A. Belikov
          Temporary Insolvency Manager
          350058, Russia, Krasnodar region,
          Tramvaynaya Str. 1/1


ROS-PRODUCT: Declared Insolvent
-------------------------------
The Arbitration Court of Kursk region commenced bankruptcy
proceedings against Ros-Product (OGRN 1024600954619) after
finding the limited liability company insolvent.  The case is
docketed as A35-824/05.  Mr. R. Buchnev has been appointed
insolvency manager.  Creditors have until November 10, 2005 to
submit their proofs of claim to Russia, Kursk, Ryabinovyj Per. 2.

CONTACT:  ROS-PRODUCT
          Russia, Kursk region,
          Belinskogo Str. 29

          Mr. R. Buchnev
          Insolvency Manager
          Russia, Kursk region,
          Ryabinovyj Per. 2


RUZHENA: Insolvency Manager Takes over Business
-----------------------------------------------
The Arbitration Court of Lipetsk region commenced bankruptcy
proceedings against Ruzhena (TIN 4813000607) after finding the
open joint stock company insolvent.  The case is docketed as
A36-762/2005.  Ms. T. Kraynova has been appointed insolvency
manager.  Creditors have until November 10, 2005 to submit their
proofs of claim to 109029, Russia, Moscow, Nizhegorodksaya Str.
10, Apartment 36.

CONTACT:  RUZHENA
          Russia, Lipetsk region,
          Syrskiy Rudnik

          Ms. T. Kraynova
          Insolvency Manager
          109029, Russia, Moscow region,
          Nizhegorodksaya Str. 10, Apartment 36


VORONEZHSKIY: Assets for Public Auction Wednesday
-------------------------------------------------
The insolvency manager of radio component factory Voronezhskiy
will sell its 26 different properties on October 12, 2005, 12:00
p.m. (local time).  The public auction will take place at 394068,
Russia, Voronezh region, Druzhinnikov Str. 1.

The list of documentary requirements is available at 394068,
Russia, Voronezh, Druzhinnikov Str. 1.  To participate, bidders
must deposit an amount equivalent to 10% of the starting price to
the settlement account 40702810307450000302, correspondent
account 30101810900000000705 at OJSC Voronezh-prom-bank,
Voronezh, BIC 042007705, KPP 366201001.

CONTACT:  VORONEZHSKIY
          394068, Russia, Voronezh region,
          Druzhinnikov Str. 1

          Insolvency Manager/Bidding Organizer
          394068, Russia, Voronezh region,
          Druzhinnikov Str. 1
          Phone: (0732) 21-07-59


YUKOS OIL: Court's Decision on Dutch Assets out End of Month
------------------------------------------------------------
A Dutch court will rule on a lawsuit filed by creditor banks and
Menatep Group against Yukos Oil in late October, a representative
of a creditor bank told Interfax.

The case concerns the over US$1 billion in export loans Yukos
obtained in 2003 from a pool of 14 banks led by France's Societe
Generale.  The lenders include Citigroup Inc., Deutsche Bank AG,
Commerzbank AG, BNP Paribas S.A. and ING Bank N.V.

The banks are demanding that the court freeze the assets of
Yukos' Dutch subsidiary Yukos Finance B.V. in relation to the
return of part of the loan.  Group Menatep Managing Director Tim
Osborne said they want the money returned through Finance B.V.,
which controls Yukos' foreign assets after the freezing of its
Russian properties.

In June, the London High Court confirmed the US$475 million debt
of Yukos to the banks.  The case is HC05CO1219 BNP Paribas and
ors v. Yukos Oil Co.  Reports late in September say Moscow's
arbitration court upheld the decision.

The debt was made to pre-finance sale of oil and for general
corporate purposes.  It includes a three-year US$500 million loan
facility and a five-year US$500 million loan facility, according
to court documents accessed by Bloomberg News.

The lenders said Yukos missed interest payments due in March and
April 2005.  In July, Yukos indicated it received notification of
default of payment on this loan.

The loan was secured against Yukos' production subsidiaries,
including Yugansk, which is now owned by state-owned company
Rosneft.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742).  A few days after, its main production
unit Yugansk was sold by the government to a little-known firm
OOO Baikalfinansgroup for US$9.35 billion.  The sale was aimed at
paying for a US$27.5 billion tax bill for 2000-2003.  Its
bankruptcy case was dismissed in February.

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


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


CONVERIUM HOLDING: Settles Almost US$250 Mln Debt in U.S.
---------------------------------------------------------
In the third quarter of 2005 Converium Holding has commuted net
reserves of close to US$250 million relating to liabilities of
Converium Reinsurance (North America) Inc. (CRNA).  The
bottom-line impact on the third quarter result from these
commutations will be positive.

More than 90% of the commuted liabilities are associated with
volatile and long-tail lines of business, e.g. General and
Special Liability, Professional Liability and Workers'
Compensation.

These figures demonstrate that Converium's strategy of
systematically commuting North American liabilities is on track.
Converium reiterates its target to commute or otherwise settle
CRNA net liabilities of approximately US$500 million in 2005,
further de-risking the Company's balance sheet.

About Converium

Converium is an independent international multi-line reinsurer
known for its innovation, professionalism and service.  Today
Converium employs about 600 people in 20 offices around the globe
and is organized into four business segments: Standard Property &
Casualty Reinsurance, Specialty Lines and Life & Health
Reinsurance, which are based principally on ongoing global lines
of business, as well as the Run-Off segment, which primarily
comprises the business from Converium Reinsurance (North America)
Inc., excluding the US originated Aviation business portfolio.
Converium has a "BBB+" rating (outlook stable) from Standard &
Poor's and a "B++" rating (outlook stable) from A.M. Best
Company.

                            *   *   *

Converium is seeking to commute roughly US$500 million worth of
liabilities in its North-American business.  Insurers commute
liabilities to end contracts with clients, usually in return for
a cash settlement.  Converium was forced to shut down operations
in North America last year after discovering almost US$500
million gap in its reserves.  It is trying to find a chief
executive and a chief finance office.

Fitch Ratings affirmed the Insurer Financial Strength (IFS)
ratings of Converium AG, Converium Insurance (U.K.) Limited and
Converium Ruckversicherungs (Deutschland) AG at 'BBB-', following
the release of the group's Q1 results.  At the same time,
Converium Holdings AG's Long-term rating is affirmed at 'B+'.
The rating of Converium Finance S.A.'s US$200 million guaranteed
subordinated notes due 2032 is also affirmed at 'BB'.  The rating
Outlooks on all the ratings are Stable.

Converium reported disappointing results for the first quarter of
2005 with a net loss of US$61.8 million.  This loss was below
Fitch's expectations, but was not of sufficient magnitude to
alter the group's current ratings or the rating Outlooks.  The
company posted a US$760.8 million loss in 2004.

CONTACT:  CONVERIUM HOLDING
          Dr. Kai-Uwe Schanz
          Chief Communication & Corporate Development Officer
          Phone: +41 (0) 44 639 90 35
          Fax: +41 (0) 44 639 70 35

          Zuzana Drozd, Head of Investor Relations
          Phone: +41 (0) 44 639 91 20
          Fax: +41 (0) 44 639 71 20


CONVERIUM HOLDING: Secures Aerospace Underwriting Membership
------------------------------------------------------------
Converium Holding completed an aviation fronting arrangement with
National Indemnity Company and Munich Re, which took effect on
October 1, 2005.  The agreement ensures Converium's continued
participation in the pool of Global Aerospace Underwriting
Managers Limited until September 30, 2006.  The business needs to
be fronted due to Converium's current financial strength ratings.

Converium considers this arrangement beneficial, as it supports
its commitment to aviation business, which constitutes one of its
important lines of business.  In addition, Converium is set to
profit from access to a well-diversified portfolio and specific
know-how through Global Aerospace Underwriting Managers Limited.
The Company also believes that this arrangement will contribute
to accelerating the restoration of a leading position in aviation
reinsurance following a future ratings upgrade.

About Converium

Converium is an independent international multi-line reinsurer
known for its innovation, professionalism and service.  Today
Converium employs about 600 people in 20 offices around the globe
and is organized into four business segments: Standard Property &
Casualty Reinsurance, Specialty Lines and Life & Health
Reinsurance, which are based principally on ongoing global lines
of business, as well as the Run-Off segment, which primarily
comprises the business from Converium Reinsurance (North America)
Inc., excluding the US originated Aviation business portfolio.
Converium has a "BBB+" rating (outlook stable) from Standard &
Poor's and a "B++" rating (outlook stable) from A.M. Best
Company.

                            *   *   *

Fitch Ratings affirmed the Insurer Financial Strength (IFS)
ratings of Converium AG, Converium Insurance (U.K.) Limited and
Converium Ruckversicherungs (Deutschland) AG at 'BBB-', following
the release of the group's Q1 results.  At the same time,
Converium Holdings AG's Long-term rating is affirmed at 'B+'.
The rating of Converium Finance S.A.'s US$200 million guaranteed
subordinated notes due 2032 is also affirmed at 'BB'.  The rating
Outlooks on all the ratings are Stable.

Converium reported disappointing results for the first quarter of
2005 with a net loss of US$61.8 million.  This loss was below
Fitch's expectations, but was not of sufficient magnitude to
alter the group's current ratings or the rating Outlooks.  The
company posted a US$760.8 million loss in 2004.

CONTACT:  CONVERIUM HOLDING
          Dr. Kai-Uwe Schanz
          Chief Communication & Corporate Development Officer
          Phone: +41 (0) 44 639 90 35
          Fax: +41 (0) 44 639 70 35

          Zuzana Drozd, Head of Investor Relations
          Phone: +41 (0) 44 639 91 20
          Fax: +41 (0) 44 639 71 20


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


ELIT-CLUB: Declared Insolvent
-----------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Elit-Club (code EDRPOU 30723281) after
finding the limited liability company insolvent.  Mr. Igor
Verhatskij (License Number AB 216712) has been appointed
liquidator/insolvency manager.

CONTACT:  ELIT-CLUB
          Ukraine, Kyiv region,
          Prorizna Str. 4-A

          Mr. Igor Verhatskij
          Liquidator/Insolvency Manager
          01024, Ukraine, Kyiv region,
          Shovkovichna Str. 16/38
          Phone: 490-88-79

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


FEODOSIYA' BOAT-MECHANICAL: Bankruptcy Supervision Begins
---------------------------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
supervision procedure on state enterprise Feodosiya'
Boat-Mechanical Plant (code EDRPOU 08385169) on August 22, 2005.
The case is docketed as 2-20/7667-2005.  Mr. Sergij Miheyev
(License Number AA 249836) has been appointed temporary
insolvency manager.  The company holds account number
260053351102 at CJSC Bank Petrokommerts-Ukraine, Sevastopol
branch, MFO 384544.

CONTACT:  STATE ENTERPRISE OF DEFENSE MINISTRY FEODOSIYA' BOAT-
          MECHANICAL PLANT
          98108, Ukraine, AR Krym region,
          Feodosiya, Gorkij Str. 19

          Mr. Sergij Miheyev
          Temporary Insolvency Manager
          95015, Ukraine, AR Krym region,
          Simferopol, Sevastopolska Str. 23/3-1

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


MARIUPOL' AUTO 11428: Court Grants Debt Moratorium
--------------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on OJSC Mariupol' Auto Transport Enterprise
11428 (code EDRPOU 03113756) and ordered a moratorium on
satisfaction of creditors' claims on August 9, 2005.  The case is
docketed as 42/114B.  Mr. Denis Matvejchuk (License Number AA
484238) has been appointed temporary insolvency manager.

CONTACT:  MARIUPOL' AUTO TRANSPORT ENTERPRISE 11428
          87500, Ukraine, Donetsk region,
          Mariupol, Chervonoflotska Str. 204

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


MAYAK-1: Court Appoints Temporary Insolvency Manager
----------------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
supervision procedure on Agricultural LLC Agrofirm Mayak-1 (code
EDRPOU 00707952) on April 29, 2005.  The case is docketed as
B-31/43-05.  Ms. Oksana Tishenko (License Number AB 216715) has
been appointed temporary insolvency manager.

CONTACT:  MAYAK-1
          64023, Ukraine, Harkiv region,
          Kegichivskij district, Paraskoviya

          Ms. Oksana Tishenko
          Temporary Insolvency Manager
          61022, Ukraine, Harkiv region,
          Petrovskij Str. 6/8-15

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


MTS-SERVICE: Falls into Bankruptcy
----------------------------------
The Economic Court of Kyiv region has commenced bankruptcy
supervision procedure on LLC MTS-Service (code EDRPOU 23571946).
The case is docketed as 68/11 b-05.  Mr. T. Kushnir (License
Number AA 719818) has been appointed temporary insolvency
manager.  The company holds account number 26002142 at JSPPB
Aval, Bila Tserkva branch, MFO 321121.

CONTACT:  MTS-SERVICE
          Ukraine, Kyiv region,
          Bila Tserkva district,
          Tomilivka, Lenin Str. 1-a

          Mr. T. Kushnir
          Temporary Insolvency Manager
          04208, Ukraine, Kyiv region,
          Pravdi Avenue 96/17

          ECONOMIC COURT OF KYIV REGION
          01032, Ukraine, Kyiv region,
          Komintern Str. 165


PLEMTORGEXPORT: Files for Bankruptcy Proceedings
------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Plemtorgexport (code EDRPOU 32575940) on
April 28, 2005 after finding the limited liability company
insolvent.  The case is docketed as B 24/71/05.  Mr. N. Fedko
(License Number AA 116113) has been appointed
liquidator/insolvency manager.

CONTACT:  PLEMTORGEXPORT
          Ukraine, Dnipropetrovsk region,
          Novomoskovskij district, Zhukov Str. 1

          Mr. N. Fedko
          Liquidator/Insolvency Manager
          49074, Ukraine, Dnipropetrovsk region,
          Orenburzka Str. 120
          Phone: (0562) 30-20-43
                 (050) 320-20-43

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


SENTOZA OIL: Under Bankruptcy Supervision
-----------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
supervision procedure on LLC Sentoza Oil (code EDRPOU 30916791)
on August 5, 2005.  The case is docketed as B 29/154/05.  Mr. T.
Kushnir (License Number AA 719818) has been appointed temporary
insolvency manager.

CONTACT:  SENTOZA OIL
          Ukraine, Dnipropetrovsk region,
          Okeanska Str. 11

          Mr. T. Kushnir
          Temporary Insolvency Manager
          Ukraine, Kyiv region,
          Pravdi Avenue 96/17

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


SINDI: Harkiv Court Opens Bankruptcy Proceedings
------------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Sindi (code EDRPOU 23466847) on August 22,
2005 after finding the limited liability company insolvent.  The
case is docketed as B 39/84-05.  Mr. Vitalij Grishenko has been
appointed liquidator/insolvency manager.  The company holds
account number 260002013722 at JSB Grant, MFO 351607.

CONTACT:  SINDI
          61012, Ukraine, Harkiv region,
          Kosarska Str. 11

          Mr. Vitalij Grishenko
          Liquidator/Insolvency Manager
          61012, Ukraine, Harkiv region,
          Engels Str. 29-B, office 703
          Phone/Fax: (057) 757-50-68

          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
===========================


AIRFRESH (UK): Liquidator's Report out November 3
-------------------------------------------------
The general meeting of the contributories of Airfresh (UK)
Limited will be on November 3, 2005 at 10:15 a.m.  It will be
held at the offices of Tenon Recovery, Sherlock House, 73 Baker
Street, London W1U 6RD.

The purpose of the meeting is to receive the account showing how
the winding-up has been conducted and the property of the Company
disposed of, and of hearing any explanation that may be given by
the Liquidator.

CONTACT:  AIRFRESH (UK) LTD.
          1-2 Prospect Way, Rugby,
          Warwickshire CV21 3UU
          Phone: 01788560906


ALLSPORTS.CO.UK: Hires Administrators from BDO Stoy Hayward
-----------------------------------------------------------
Company Names: ALLSPORTS.CO.UK
               (Company No 03984616)

               ALLSPORTS LIMITED
               (Company No 03213895)

               ALLSPORTS (RETAIL) LTD.
               (Company No 01241398)

Dermot Justin Power, Matthew Dunham and Simon James Michaels (IP
Nos 6006, 8376, 8824) of BDO Stoy Hayward LLP were appointed
joint administrators of these companies on Sept. 26.

Allsports is one of Britain's leading sports goods retailers with
over 260 stores nationwide employing approximately 1,700 staff.
Visit http://www.allsports.co.ukfor more information.

CONTACT:  ALLSPORTS LTD.
          50 Volcy Pougnet Str.
          Port Louis
          Phone: 2088272
          Fax: 2104719

          BDO STOY HAYWARD LLP
          Commercial Buildings,
          11-15 Cross Street, Manchester M2 1BD
          Phone: 0161 817 3700
          Fax: 0161 817 3711
          E-mail: manchester@bdo.co.uk
          Web site: http://www.bdo.co.uk


ALPHA CEMENT: Final Members Meeting Set Next Month
--------------------------------------------------
Company Names: ALPHA CEMENT LIMITED
               BIRMABRIGHT LIMITED
               BFL READYMIX LIMITED
               REDLAND TECHNOLOGY GROUP LIMITED
               STEETLEY OVERSEAS HOLDINGS LIMITED

The final meeting of the members of these companies will be on
November 4, 2005 commencing at 10:30 a.m. and thereafter at
15-minute intervals.  It will be held at the offices of
PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT.

The purpose of the meeting is to receive the account showing
how the winding-up has been conducted and the properties of the
companies disposed of, and of hearing any explanation that may be
given by the Liquidator.

CONTACT:  ALPHA CEMENT LTD.
          P.O. Box 579
          Queenstown 5320

          Physical Address:
          22 Factory Rd
          New Rest
          Queenstown 5319
          Phone: (045) 838-1164
          Fax: (045) 839-5525

          BFL READYMIX LTD.
          35 Basinghall Street,
          London EC2V 5DB
          Phone: 01530-242-151

          REDLAND TECHNOLOGY GROUP LTD.
          Redland House, Castlefield Road,
          Reigate, Surrey RH2 0SJ
          Phone: 01306-872000


AMG INNOVATIONS: EGM Passes Winding-up Resolution
-------------------------------------------------
AMG Innovations Ltd. informs that a resolution to wind up the
company was passed at an EGM held on Sept. 22 at 641 Green Lanes,
London N8 0RE.  Ninos Koumettou of Alexander Lawson & Co, 641
Green Lanes, London N8 0RE was appointed liquidator.

CONTACT:  AMG INNOVATIONS LTD.
          100-110 South Worple Way, London SW14 8NG
          Phone: 02088787211


ARTTS INTERNATIONAL: Names Administrators from Baker Tilly
----------------------------------------------------------
Alec David Pillmoor (IP No 007423) and Adrian David Allen (IP No
008740) of Baker Tilly were appointed joint administrators of
Artts International Productions Limited (Company No 02240531) on
Sept. 26.  The company's registered office is at Baker Tilly,
Wilberforce Court, Alfred Gelder Street, Hull HU1 1YH.  Artts
International provides courses relating to the entertainment
industry.

CONTACT:  BAKER TILLY
          Wilberforce Court
          Alfred Gelder Street
          Hull
          East Yorkshire HU1 1YH
          Phone: 01482 327406
          Fax: 01482 326957

          BAKER TILLY
          2 Whitehall Quay, Leeds LS1 4HG
          Phone: 0113 285 5000
          Fax:   0113 285 5001
          Web site: http://www.bakertilly.co.uk


BAE SYSTEMS: Brandes Gives up Remaining Stake
---------------------------------------------
Brandes Investment Partners, L.P. has sold its remaining stake in
BAE Systems plc for GBP239 million, said the Financial Times.

The San Diego-based fund started the year as BAE Systems' largest
investor with a 13% stake, but since then it has gradually
disposed of its shareholding.  It held the stake for over five
years.

On behalf of Brandes, JPMorgan and JPMorgan Cazenove handled the
sale of the 72 million shares at 332 pence each, said Bloomberg,
in another report.  Following the disposal, BAE shares fell 6
pence, or 1.7%, to 338.25 pence in London Tuesday, valuing the
company at GBP10.9 billion.

BAE spokesperson Lisa Hillary-Tee refused to comment on the sale,
while officials at Brandes could not be reached.  Last month, BAE
said it does not plan to sell its 20% stake in aircraft
manufacturer Airbus.  Chief Executive Mike Turner and Chairman
Dick Olver also stressed the company could not currently put to
better use any proceeds in a sale.

Mr. Olver said: "Right now, I am sure Mike and I would both say:
We look at everything, including Airbus, and right now it is not
for sale."

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

          BRANDES INVESTMENT PARTNERS, L.P.
          11988 El Camino Real, Suite 500
          P.O. Box 919048
          San Diego, California
          Phone: 92191-9048
          Web site: http://www.brandes.com


BARCLAYS BEAUMONT: Hires Deloitte & Touche Liquidator
-----------------------------------------------------
Company Names: BARCLAYS BEAUMONT INVESTMENTS LIMITED
               BARCLAYS CARINA INVESTMENTS LIMITED
               BARCLAYS DORADO INVESTMENTS LIMITED

Barclays Group Holdings Limited and Swan Lane Investments
Limited, the Shareholders of these companies, inform that special
and ordinary resolutions to wind up the companies were passed at
a general meeting held on Sept. 21.  J. R. D. Smith and N. J.
Dargan of Athene Place, 66 Shoe Lane, London EC4A 3WA were
appointed liquidators.

Creditors are required on or before October 19, 2005 to send in
their full names and addresses, with particulars of their debts
or claims, to the undersigned, J. R. D. Smith, Joint Liquidator,
at Athene Place, 66 Shoe Lane, London EC4A 3WA, the joint
liquidator of the companies, and, if so required by notice in
writing, to prove its debt or claims.

CONTACT:  DELOITTE & TOUCHE LLP
          Athene Place
          66 Shoe Lane
          London EC4A 3BQ
          Phone: 00 44 (0) 207 936 3000
          Fax: 00 44 (0) 207 779 4001
          Web site: http://www.deloitte.com


BCCI: Bank of England Snubs Settlement
--------------------------------------
The Bank of England rejected anew an out-of-court settlement
offered by the liquidator of Bank of Credit and Commerce
International, reports say.

According to The Daily Telegraph, the approach is believed to be
the seventh made by John Richards of accountants Deloitte.
Deloitte vowed to fight the case to the end.

The case, where Bank of England is accused of misfeasance, puts
at stake its reputation for the first time in its 309-year
history.  It is refusing the settlement to prove its integrity,
and vindicate 22 of its senior officials involved.  It is
believed to have so far spent about GBP75 million in legal fees
since 1993.  Deloitte, which has racked up an estimated GBP30
million in legal cost, is claiming as much as GBP1 billion in
damages.  The case is the most expensive litigation in British
corporate history.

BCCI, incorporated in Luxembourg and ran from London, collapsed
in 1991 with as much as US$16 billion in debt.  The collapse
affected 80,000 depositors.

Christopher Grierson of Lovells is Deloitte's counsel.  The
liquidator has so far returned about GBP4 billion to creditors,
which include Channel 4, American Express, Bury Council and The
Western Isles Council.  A further 5% of what's outstanding will
be distributed at the end of the year.

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

          LOVELLS
          Web site: http://www.lovells.com/


BOOTS GROUP: Sells Healthcare Unit to Reckitt Benckiser
-------------------------------------------------------
Reckitt Benckiser plc has agreed to acquire Boots Healthcare
International (BHI) from Boots Group plc for a consideration of
GBP1,926 million in cash.

         Statement of Reckitt Chief Executive Bart Becht

BHI will substantially strengthen Reckitt Benckiser's global
position in both Health Care and Personal Care, very attractive
businesses as evidenced by the strong growth rates at good
margins at both BHI and Reckitt Benckiser's own Health & Personal
Care (H&PC) category.  Combined H&PC revenues will exceed GBP1
billion, an increase of 90%, and will represent 26% of the
enlarged Reckitt Benckiser.  The growth of strong and trusted
brands in H&PC comes amongst other things from increasing
consumer self-medication for minor ailments encouraged by
government seeking to transfer the cost burden of healthcare to
the individual, and from an ageing population.

BHI will add 3 Power Brands to Reckitt Benckiser's portfolio;
Nurofen in analgesics; Strepsils in sore throat; and Clearasil in
anti-acne.  All three brands are already global leaders and have
substantial further growth potential.  To realize that potential,
Reckitt Benckiser will continue to invest behind BHI's proven R&D
and brand development capabilities and use its own distribution
capabilities to drive growth in new channels and new countries.

Substantial synergies will result from the integration of BHI
into Reckitt Benckiser.  Specifically, Reckitt Benckiser targets
GBP75 million in cost synergies and GBP130 million in net working
capital synergies by 2008.  The prospect that the deal is
targeted to be immediately earnings enhancing (excluding the
GBP150 million one off restructuring) combined with the growth
potential and attractive margin profile makes this a good
acquisition for shareholders.

Richard Baker, chief executive officer of Boots Group plc, said:
"BHI has performed strongly over the last three years, delivering
excellent organic growth and outperforming its market.  I firmly
believe that the prospects for the business remain strong and
with the commitment and focus that Reckitt Benckiser will bring
to the business that it will continue to thrive."

            About Boots Healthcare International (BHI)

BHI is a consumer healthcare business largely selling over the
counter products.  In the year to March 2005, BHI reported net
revenues of GBP523 million (+4% on 2004) and operating profit of
GBP88 million (+9% on 2004).  At 31 March 2005, BHI reported net
assets of GBP454 million.  BHI financials will be restated onto
Reckitt Benckiser policies by February 2006.

BHI's product range includes:

(a) Nurofen, the No. 1 European and No.2 worldwide Ibuprofen
    brand;

(b) Strepsils, No. 1 Global sore throat brand;

(c) Clearasil, the No.1 Global brand of anti-acne treatment; and

(d) a number of strong local brands such as E 45, Lutsine,
    Optrex, Nylax, Karvol plus prescription drug business
    Hermal.

BHI operates five manufacturing units, three in Nottingham, U.K.,
one in Reinbek near Hamburg, Germany, and one in Bangkok,
Thailand.  It is the intention of Reckitt Benckiser to continue
operations at all three locations.

Financial Improvement Potential

The acquisition of BHI will offer a number of opportunities for
financial improvement under Reckitt Benckiser ownership.

(a) Cost synergies arising from integration of the two
    businesses are targeted at GBP75 million annually by 2008;

(b) Net working capital at BHI is targeted to reduce by GBP130
    million by applying Reckitt Benckiser's established net
    working capital management disciplines.  It is expected that
    this improvement will be substantially achieved by 2008;

(c) There will be a one-off charge of GBP150 million for the
    cost of integrating and restructuring post-acquisition.
    This charge will cover the necessary reorganization to
    integrate BHI into Reckitt Benckiser plus some further
    restructuring of manufacturing configuration in the enlarged
    company.

Reckitt Benckiser intends to maintain its share buyback program
at GBP300 million a year in 2006.

Timetable & Integration

The acquisition remains subject to anti-trust approvals in a
number of jurisdictions, notably the E.U. and U.S.  No material
anti-trust issues are expected.  The transaction is also subject
to the approval of shareholders of Boots Group plc.

The Board of Reckitt Benckiser plc has been advised by Merrill
Lynch.

CONTACT:  BOOTS GROUP PLC
          1 Thane Road
          Nottingham NG2 3AA
          Phone: 0115 950 6111
          Customer Service: 0845 070 80 90
          Web site: http://www.boots-plc.com

          RECKITT BENCKISER PLC
          103-105 Bath Rd.
          Slough
          SL1 3UH, United Kingdom
          Phone: +44-1753-217-800
          Fax: +44-1753-217-899
          Web site: http://www.reckittbenckiser.com


BUFFALO CREATIVE: EGM Passes Winding-up Resolution
--------------------------------------------------
G. R. Hoff, Chairman of Buffalo Creative Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Sept. 23 at the offices of Harris Lipman, 2 Mountview Court, 310
Friern Barnet Lane, Whetstone, London N20 0YZ.

Freddy Khalastchi of Harris Lipman, 2 Mountview Court, 310 Friern
Barnet Lane, Whetstone, London N20 0YZ was appointed liquidator.
The appointment was confirmed at a creditors meeting held on the
same day.

CONTACT:  BUFFALO CREATIVE LTD.
          18, Water Lane, Richmond, Surrey TW9 1TJ
          Phone: 020 8948 7161

          HARRIS LIPMAN
          2 Mountview Court,
          310 Friern Barnet Lane,
          Whetstone, London N20 0YZ
          Phone: (020) 8446 9000
          Fax:   (020) 8446 9537
          Web site: http://www.harris-lipman.co.uk


CAUSEWAY HOLDINGS: UHY Hacker Young Liquidator Enters Firm
----------------------------------------------------------
O. Mackaness, the Chairman of Causeway Holdings Limited, informs
that special resolution to wind up the company was passed at an
EGM held on Sept. 19 at offices of Withers, 16 Old Bailey, London
EC4M 7EG.  Peter Kubik and Ladislav Hornan of UHY Hacker Young,
St Alphage House, 2 Fore Street, London EC2Y 5DH were appointed
liquidators.

Creditors are required on or before November 19, 2005 to send in
their full forenames and surnames, their addresses and
descriptions, full particulars of their debts or claims, and the
names and addresses of their Solicitors (if any), to the
undersigned Peter Kubik of UHY Hacker Young, St Alphage House, 2
Fore Street, London EC2Y 5DH, the joint liquidator of the
company, and, if so required by notice in writing to prove their
debt or claims.

CONTACT:  UHY HACKER YOUNG
          St Alphage House,
          2 Fore Street, London EC2Y 5DH
          Phone: 020 7216 4600
          Fax: 020 7638 2159


CITYBRACE LIMITED: Debt Claims Deadline October 31
--------------------------------------------------
S. Lenton, the Chairman of Citybrace Limited, informs that
special resolution to wind up the company was passed at an EGM
held on Sept. 23 at 1st Floor, Kimberley House, Vaughan Way,
Leicester LE1 4SG.  Paul Anthony Saxton of Elwell Watchorn &
Saxton LLP, 109 Swan Street, Sileby, Leicestershire LE12 7NN was
appointed liquidator.

Creditors are required on of before October 31, 2005, to send
their names and addresses and particulars of their debts or
claims and the names and addresses of their Solicitors (if any),
to Paul Anthony Saxton, of Elwell Watchorn & Saxton LLP, 109 Swan
Street, Sileby, Leicestershire LE12 7NN, the liquidator of the
company, and, if so required by notice in writing their debt or
claims.

CONTACT:  ELWELL WATCHORN & SAXTON
          109 Swan Street,
          Sileby, Leicestershire, LE12 7NN
          Phone: (+44) 01509 815150
          Fax: (+44) 01509 815121
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


COINCRETE LIMITED: Processing Firm Calls in Administrator
---------------------------------------------------------
Andrew White and Susan Maund (IP Nos 8066 and 8923) of Baker
Tilly were appointed joint administrators of Coincrete Limited
(Company No 01779956) on Sept. 20.  The company's registered
office is at 6 Castleham Road, St Leonards-on-Sea, East Sussex
TN38 9NR.

Coincrete was established 18 years ago as a data transcription
bureau.  Operating out of two locations in St. Leonards-on-Sea,
East Sussex, it has grown and diversified into the field of mail
order processing, live call handling, audio and visual data
capture.  Coincrete also provides a database management service,
plus a brochure and product fulfillment service with its own
in-house warehousing facilities.  Visit
http://www.coincrete.co.uk/for more information.

CONTACT:  COINCRETE LIMITED
          6 Castleham Road,
          St Leonards-on-Sea,
          East Sussex TN38 9NR
          Phone: 01424 797979
          Fax: 01424 797501
          E-mail: postroom@coincrete.co.uk

          BAKER TILLY
          International House
          Queens Road, Brighton BN1 3XE
          Phone: 01273 223400
          Fax: 01273 223401
          E-mail: jonathan.ericson@bakertilly.co.uk
          Web site: http://www.bakertilly.co.uk


COLLINS & AIKMAN: Buyer Known by Month's End
--------------------------------------------
The administrator of Collins & Aikman Corporation in Europe has
set the end of the month to choose a buyer for the operation,
which is currently in administration.

Joint administrator Simon Appell told Reuters they have narrowed
down the list of bidders between five to 10 out of 80.  The
bidders are both financial and trade buyers, including Wilbur
Ross, who has also expressed interest in the U.S. business.
Turnaround specialist Wilbur Ross has already acquired most of
the US$750 million of bank debt owed by the auto parts firm.

The U.S. parent of Collins & Aikman filed for bankruptcy in May.
The U.K. operation, which accounts for 25% of total global
business, obtained a "group wide" Administration order pursuant
to the jurisdiction of the English High Court in London in July
2005.  Kroll U.K.'s Simon Appell and Alastair Beveridge, among
others, have been appointed joint administrators of each of the
companies.

The companies included in the filing are located in the U.K.,
Austria, Belgium, Czech Republic, Italy, Germany,
Luxembourg, Netherlands, Spain and Sweden and have approximately
4,000 employees in 24 facilities.  Collins & Aikman has 4,000
employees in 26 plants in nine countries in Europe.  Collins &
Aikman's European operations are expected to continue in the
normal course of business without interruption while the
Administrators assess appropriate options.

Additional information regarding the European group wide
Administration is available at
http://www.collinsaikmaneurope.com/and information regarding the
Chapter 11 reorganization at http://www.collinsaikman.com  For
more information, call the Company's toll-free Reorganization
Information Line at 1-866-795-7641; for international callers +1
310-432-4170.

CONTACT:  FINANCIAL DYNAMICS
          Phone: +44 (0)20 7269 7167
          Lucy Thom
          Phone: +44 (0)7712 174690
          Nigel O'Connor
          Phone: +44 (0)7968 095770
          E-mail: collinsandaikman@fd.com

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


COLT TELECOM: Secures EUR15 Million Deal with Commerzbank
---------------------------------------------------------
Colt Telecom Group plc has been awarded a major contract, worth
more than EUR15 million in revenues over five years, by
Commerzbank AG, one of Germany's largest banks.

The agreement, one of the largest in COLT's 13-year history, will
see Colt manage and upgrade a major part of Commerzbank's
national and European communications infrastructure, delivering
higher speed communications at lower costs.

COLT Chief Executive Jean-Yves Charlier said: "We welcome the
strengthening of our relationship with Commerzbank as a strong
indicator of our leadership position in providing communications
services to the Financial sector across Europe."

COLT, Germany's second largest alternative fixed line operator,
will manage the communications network for approximately 190
Commerzbank sites across Germany and set up and manage a
significant part of Commerzbank's nationwide area network (WAN)
backbone: 11 sites throughout the country.  Rollout is scheduled
in late 2006.  COLT will also continue to operate the majority of
the Commerzbank European network.  The bank's offices in Dublin,
London, Amsterdam, Brussels, Paris, Barcelona, Madrid, Milan and
Frankfurt will all be supported by COLT's owned and operated
20,000 kilometer European network.

COLT was selected over other suppliers because of the reach and
quality of its fiber network which supports, either directly or
through partners, more than 50,000 businesses across Europe. COLT
will connect Commerzbank's 11 backbone sites across Germany with
redundant 155 Mbit/s lines based on proven SDH technology.
Furthermore, Commerzbank's 190 branch offices are interconnected
via COLT's ATM network using secure VPN services.

For individual branches Commerzbank opted for a multi-vendor
approach and selected three different communications providers.

Roland Schneider, network services manager at Commerzbank, said:
"We took deliberate advantage of the competition between
providers.  Our positive experience with COLT in the past meant
that we chose COLT in all areas where our branches could be
connected up to its own network.  COLT responded to our
requirements with the utmost flexibility.  We were very impressed
by both this responsiveness and the cost-efficiency offered by
COLT."

COLT Germany Managing Director Wolfgang Essig added: "Commerzbank
is one of our key clients and has benefited from our services
since 1996.  I am therefore delighted at this major new order and
consolidation of our long-term relationship."

                        About the Company

COLT is a leading European provider of business communications.
COLT specializes in providing data, voice and managed services to
midsize and major businesses and wholesale customers.  It has
more than 50,000 customers across all industry sectors.  COLT
owns and operates a 13-country, 20,000km network that includes
metropolitan area networks in 32 major European cities with
direct fiber connections into 10,000 buildings and 13 COLT data
centers.

COLT Telecom Group plc is listed on the London Stock Exchange
(CTM.L) and NASDAQ (COLT).  In July, the company said it
continued to make progress in the implementation of its strategic
plan, even though market conditions remained challenging.  Its
financial position continues to be strong with cash and cash
equivalents of GBP335.9 million at the end of the quarter.

CONTACT:  COLT TELECOM GROUP PLC
          Web site: http://www.colt.net

          John Doherty
          Director Corporate Communications
          E-mail: jdoherty@colt.net
          Phone: +44 (0) 20 7390 3681

          Gill Maclean
          Head of Corporate Communications
          E-mail: gill.maclean@colt.net
          Phone: +44 (0) 20 7863 5314

          Henny Valder
          COLT
          Phone: + 44 (0) 20 7947 1610
          E-mail: henny.valder@colt.net


DAVID SAUNDERS: Calls in Joint Liquidators
------------------------------------------
David Saunders Contractors Limited informs that a resolution to
wind up the company was passed at an EGM held on Sept. 22 at the
offices of Elwell Watchorn & Saxton LLP, 109 Swan Street, Sileby,
Loughborough, Leicestershire LE12 7NN.  Graham Stuart Wolloff and
Richard John Elwell of Elwell Watchorn & Saxton LLP, 2 Axon,
Commerce Road, Lynchwood, Peterborough PE2 6LR were appointed
Joint Liquidators.

The company designs and builds barns, equestrian arenas and
livestock facilities.

CONTACT:  DAVID SAUNDERS CONTRACTORS LIMITED
          Fields Farm
          Warwick
          CV13 0AD
          Phone: 01455 291 010

          ELWELL WATCHORN & SAXTON
          2 Axon, Commerce Road,
          Lynchwood, Peterborough PE2 6LR
          Phone: (+44) 01733 235253
          Fax: (+44) 01733 236391
          E-mail: office@ews-insolvency.co.uk
          Web site: http://www.ews-insolvency.co.uk


DELTA FOODS: Creditors Meeting Set Next Week
--------------------------------------------
The creditors of Delta Foods (UK) Limited (Company No 04412820)
will meet on October 17, 2005 at 3:00 p.m.  It will be held at 18
Sapcote Trading Centre, Dudden Hill Lane, London NW10 2DH.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to David Wald, administrator of D. Wald & Co, 18
Sapcote Trading Centre, Dudden Hill Lane, London NW10 2DH not
later than October 14, 2005 on or before 12:00 noon.

CONTACT:  DELTA FOODS (UK) LIMITED
          9 Batsworth Rd.
          Mitcham, Surrey
          Phone: 020 8687 8219

          D. WALD & CO.
          18 Sapcote Trading Centre
          Dudden Hill Lane
          London NW10 2DH
          Phone: 020 8451 3939
          Fax: 020 8830 2929


DIRECT PERSONNEL: Hires Mazars to Liquidate Assets
--------------------------------------------------
C. Quincey, Chairman of Direct Personnel Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 16 at Mazars LLP, The Broadway, Dudley, West Midlands DY1
4PY.  A.S. Wood of Mazars LLP of Lancaster House, 67 Newhall
Street, Birmingham B3 1NG was appointed liquidator.

CONTACT:  DIRECT PERSONNEL LIMITED
          2-2a Mill Street, Cannock
          Staffordshire WS11 0DL
          Phone: 01543505555

          MAZARS
          Lancaster House
          67 Newhall Street
          Birmingham
          West Midlands B3 1NG
          Phone: 0121 236 7711
          Fax: 0121 236 2778


DO YOURSELF A FAVOUR: Retailer Hires Administrator
--------------------------------------------------
Stephen M. Katz (IP No 6681) of Fisher Partners was appointed
administrator of retailer Do Yourself A Favour Limited (Company
No 04791835) on Sept. 28.  The company's registered office is at
8 Wellfield Road, Piddington, High Wycombe HP14 3BP.

CONTACT:  DO YOURSELF A FAVOUR LTD.
          11 London End,
          Beaconsfield HP9 2HN
          Phone: 0870-794 0300

          FISHER PARTNERS
          Acre House
          11/15 William Road
          London NW1 3ER
          Phone: 020 7388 7000
          Fax: 020 7380 4900
          E-mail: skatz@hwfisher.co.uk


EXPAND (GB): Goes into Liquidation
----------------------------------
M. Ham, Chairman of Expand (GB) Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Sept. 12 at Burley House, 12 Clarendon Road, Leeds LS2 9NF.

Dawn Lesley Chadwick of Bartfields (UK) Limited, Burley House, 12
Clarendon Road, Leeds LS2 9NF was appointed liquidator.  The
appointment was confirmed at a creditors meeting held on the same
day.

CONTACT:  EXPAND (GB) LIMITED
          Beechwood House, Beechwood Estate, Elmete Lane,
          Roundhay, Leeds, West Yorkshire, LS8 2LQ
          Phone: 0845 859 1716

          BARTFIELDS (UK) LIMITED
          Burley House
          12 Clarendon Road
          Leeds
          West Yorkshire LS2 9NF
          Phone: 0113 244 9051
          Fax: 0113 234 3208
          E-mail: gerald.krasner@bartfield.co.uk


GALAXY LIFESTYLES: DTI Recommends Compulsory Liquidation
--------------------------------------------------------
A Birmingham money scheme that preyed on the religious
sensitivities of recruits has been wound up on orders by the DTI.

The scheme known as Galaxy Lifestyles International told
potential investors they would receive discounts on their
shopping and made them believe they could make up to GBP91,000 by
recruiting a new member every 10 months.  The scheme was run by
Elaine Douglas from Edgbaston who targeted people through their
religious beliefs and charged them membership fees of GBP1,700
(plus VAT) for ten years.  Over 3,500 people invested in the
scheme.

In appointing the Official Receiver, Mr. Justice Pumfrey agreed
with the DTI's findings that the scheme was being sold to members
of the public on a false and deceptive basis.  He said: "The
methods used to recruit new members were less than honest,
excessively hard selling and the whole scheme is a demonstration
of half truths and exaggerations at the expense of those people
who joined the scheme, some of whom borrowed or pawned the money
to enable them to do so."

The grounds for the winding up were that it operated a membership
scheme that was both unlawful (being in breach of section 120 of
the Fair Trading Act 1973, as amended) and inherently
objectionable.

On the application of the Secretary of State, the Court appointed
the Official Receiver as provisional liquidator of the company on
25 August 2005 pending the hearing of the winding up petition.
The application was opposed by the company.  The petition was
duly heard on 21 September 2005 and the company was ordered into
compulsory liquidation by Mr. Registrar Rawson.

                            *   *   *

The registered office of the company is located at Unadkat & Co.,
Chartered Accountants, 12 The Wharf, Bridge Street, Birmingham,
West Midlands B1 2JS.  The directors of the company are Elaine
Douglas and Nollis Campbell.  Ms. Douglas is also the secretary
of the company.

The petition to wind up GLI (Galaxy Lifestyles) Limited in the
public interest was presented on 25 July 2005 following an
investigation carried out by the DTI's Companies Investigation
Branch (CIB) under section 447 of the Companies Act 1985.

CONTACT:  THE OFFICIAL RECEIVER
          Public Interest Unit 21 Bloomsbury Street London
          WC1B 3SS
          Web site: http://www.dti.gov.uk/cld/comp_inv.htm


GATE GOURMET: Union Members Endorse Rescue Plan
-----------------------------------------------
Gate Gourmet London (Heathrow) says the Transport and General
Workers Union (TGWU) officially confirmed Thursday its members
have approved the company's restructuring plan.

Eric Born, managing director Gate Gourmet UK & Ireland, said: "We
are very pleased with the result, and that the union has finally
got its membership to vote for the proposal."

Following the resolution of the dispute and the successful
ratification by union members, the remaining piece of the London
unit's turnaround program is for British Airways to sign the new
commercial terms as agreed on Aug. 23.

The speed at which Gate Gourmet can consider any re-engagement of
some of the dismissed workers, who participated in the illegal
wildcat strike on Aug. 10, depends on how quickly the union can
convince members to sign the necessary compromise agreements.  It
would have been unnecessary for compromise agreements to be
signed had the union not supported the illegal wildcat action.

CONTACT:  GATE GOURMET (for U.S.)
          John Bronson
          E-mail: jbronson@gategourmet.com

          GAVIN ANDERSON & CO.
          U.K. and Europe
          Mark Lunn
          Phone: +44 0207 554 1452


GENEMEDIX PLC: Sells Chinese Business as Part of Restructuring
--------------------------------------------------------------
GeneMedix plc, the U.K. biopharmaceutical company with operations
in Europe and Asia and with joint London and Singapore Stock
Exchange listings, has been undertaking a significant number of
initiatives to continue developing its biosimilar EPO and realize
the potential of its other programs.

In light of the recently announced resignation of CEO Paul
Edwards and the Company's current cash position, the Directors
have decided to commence an immediate restructuring of the
Company.  The Company is pleased to announce that it has located
a potential purchaser for its manufacturing facility in China,
and expects to announce the signing of a binding Letter of Intent
shortly.  Terms cannot be disclosed at this time.

Management and the Directors continue to believe strongly that
the Company has an attractive and valuable program for EPO, a
high quality manufacturing and development facility in Ireland;
exciting opportunities with its G-CSF program and further
commercial potential with its Monomeric Insulin analogues and
interferon-alfa.  To fully realize the commercial value of these
programs in a timely manner, the Company and its Directors have
appointed Global Markets Capital Group LLC to assist it in the
restructuring program with a view to generate cash for the
business.

The Company has been successful for some time in running small
capital raisings to fund its ongoing business, but the Company
now has a limited ability to raise cash through additional small
equity raisings due to the cost and timelines of having to issue
a prospectus.  GeneMedix currently has sufficient funds for its
immediate requirements but it requires cash to fund its
continuing business.  The Directors believe that the Company has
sufficient assets that could realize cash for the business to pay
debts and to allow the business to continue as a going concern.

The Board realizes that timing is of the essence and has adopted
a formal approach to the restructuring of the Company.  The Board
will continue to explore all avenues available to it to unlock
the value in the Company for its shareholders.

CONTACT:  GENEMEDIX PLC
          Phone: 01638 663 320
          Julian Attfield, Acting Chief Executive Officer

          GLOBAL MARKETS CAPITAL GROUP, LLP (New York)
          Phone: 1 (212)808 9700
          Michael Levitan, Principal
          Phone: 1 (917)626 8717

          BANKSIDE CONSULTANTS
          Phone: 020 7367 8888
          Michael Padley
          Susan Scott


G E R LIMITED: In Liquidation
-----------------------------
G E R Limited informs that a resolution to wind up the company
was passed at an EGM held on Sept. 20 at Brentmead House,
Britannia Road, London N12 9RU.  Martin Henry Linton of Brentmead
House, Britannia Road, London N12 9RU was appointed liquidator.

CONTACT:  G E R LTD.
          Unit 5 Glenville Mews, Wandsworth
          London SW18 4NJ
          Phone: 020-8875-1104


ITL COMPUTERS: Calls in Joint Liquidators
-----------------------------------------
I. L. Holding, Chairman of I T L Computers Ltd., informs that a
resolution to wind up the company was passed at an EGM held on
Sept. 21 at Insol House, 39 Station Road, Lutterworth,
Leicestershire LE17 4AP.  Richard Frank Simms and Martin Richard
Buttriss of Insol House, 39 Station Road, Lutterworth,
Leicestershire LE17 4AP were appointed Joint Liquidators.

CONTACT:  I T L COMPUTERS LTD.
          834 Ormskirk Road, Pemberton, Wigan
          Lancashire WN5 8EX
          Phone: 01942211772

          Insol House
          39 Station Road
          Lutterworth
          Leicestershire LE17 4AP
          Phone: 01455 557111
          Fax: 01455 552572
          E-mail: rsimms@fasimms.com


JAMES EAST: Appoints Liquidator from Phillips & Co.
---------------------------------------------------
S. Evans, chairman of James East & Sons Limited, informs that
special resolution to wind up the company was passed at an EGM
held on Sept. 14 at 24 Broad Street, Chesham, Buckinghamshire HP5
3DX.  Helen Timothe Phillips of Phillips & Co, 21-23 Station
Road, Gerrards Cross, Buckinghamshire SL9 8ES was appointed
liquidator.

Creditors are required on or before October 24, 2005, to send in
their forenames and surname, addresses and descriptions, full
particulars of debts or claims and names and addresses of
Solicitors (if any), to Helen Timothe Phillips, Phillips & Co,
21-23 Station Road, Gerrards Cross SL9 8ES, the Liquidator of the
said Company, and, if so required by notice in writing their debt
or claims.

CONTACT:  JAMES EAST & SONS LIMITED
          Broad St.
          Chesham, Buckinghamshire HP5 3EF
          Phone: 01494 782136

          PHILLIPS & CO
          21/23 Station Road
          Gerrards Cross
          Buckinghamshire SL9 8ES
          Phone: 01753 883315
          Fax: 01753 886324
          E-mail: insol@phillipsinsolvency.co.uk


J ARIF: Calls in Liquidator from Tenon Recovery
-----------------------------------------------
J. E. P. Arif, Chairman of J. Arif Contracts Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Sept. 19 at 6th Floor, Salisbury House, 31 Finsbury
Circus, London EC2M 5SQ.  Duncan Beat of Tenon Recovery, 6th
Floor, Salisbury House, 31 Finsbury Circus, London EC2M 5SQ was
appointed liquidator. The appointment was confirmed at a
creditors meeting held on the same day.

CONTACT:  J. ARIF CONTRACTS LTD.
          315 London Road, Benfleet, Essex SS7 5XP
          Phone: 0126-856-6328

          TENON RECOVERY
          Salisbury House
          31 Finsbury Circus
          London EC2M 5SQ
          Phone: 020 7628 2040
          Fax: 020 7638 0217
          Web site: http://www.tenongroup.com


JOHN T. METCALFE: Administrator Takes over Helm
-----------------------------------------------
David Anthony Horner (IP No 008956) of David Horner & Co. was
appointed administrator of John T. Metcalfe limited (Company No
02384613) on Sept. 23.  The company's registered office is at
David Horner & Co, 11 Clifton Moor Business Village, James
Nicolson Link, York YO30 4XG.  John T. Metcalfe is engaged in
special purpose protective coatings.

CONTACT:  JOHN T METCALFE LTD.
          Bonlea Trading Estate, Thornaby
          Stockton on Tees TS17 7AQ
          Cleveland
          Phone: 01642 606652
          Fax: 01642 614258

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


MACMILLAN LONDON: Meeting of Creditors Tomorrow
-----------------------------------------------
The creditors of Macmillan London Hair Studios Ltd. (Company No
04030104) will meet on October 11, 2005, 11:00 a.m. at the
offices of Bond Partners LLP, The Grange, 100 High Street, London
N14 6TD.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to T. Papanicola, administrator of Bond Partners LLP,
The Grange, 100 High Street, London N14 6TG not later than
October 10, 2005 on or before 12:00 noon.

MacMillan's Convent Garden-based salon is home to the creative
genius behind some of the best dressed heads on London, including
Denise van Outen, Ana Boulter and the girls from Anastasia.
Visit http://www.macmillan-london.co.uk/for more information.

CONTACT:  MACMILLAN LONDON HAIR STUDIOS LTD.
          33 Endell Street
          Covent Garden
          London WC2H 9BA
          Phone: 020 7240 4973
          Fax: 020 7240 7202
          E-mail: info@macmillan-london.co.uk

          BOND PARTNERS LLP
          The Grange
          100 High Street
          London N14 6TG
          Phone: 020 8444 2000
          Fax: 020 8444 3400


MERLIN BIOSCIENCES: Under Investigation for Possible Fraud
----------------------------------------------------------
The Serious Fraud Office is investigating Merlin Biosciences
Limited, the fund manager established by an adviser to the Prime
Minister.  The probe is confirmed by the SFO and the company.
The SFO did not reveal details of the process as a matter of
procedure.

The Times said the procedure is nothing unusual.  The SFO usually
makes preliminary assessment before it decides whether to proceed
to a full investigation, pass the complaint to police or drop the
case.  The cases taken are at least GBP1 million and are of
public interest.

Merlin Biosciences, founded by Prof. Sir Chris Evans in Cambridge
in 1996, manages funds totaling EUR450 million.  Merlin owns more
than 40 biotech companies -- including Ark Therapeutics, BioVex,
Cyclacel, KinderTec, Microscience, PanTherix, ReNeuron and
Vectura.  The first, Merlin Fund LP, is due to redeem in 2007.

CONTACT:  MERLIN BIOSCIENCES LIMITED
          33 King Street
          St. James's
          London, SW1Y 6RJ
          United Kingdom
          Phone: + 44 (0) 20 7811 4000
          Fax: + 44 (0) 20 7811 4001
          E-mail: enquiry@merlin-biosciences.com
          Web site: http://www.merlin-biosciences.com/


MG ROVER: Nanjing, SAIC Expected to Settle Row Soon
---------------------------------------------------
Rivals Nanjing Automobile (Group) Corporation and Shanghai
Automotive Industry Corporation are expected to resolve their
ownership row over MG Rover soon, said icBirmingham.

David Waller, Midlands regional chairman and senior partner at
Rover administrator PricewaterhouseCoopers, says an agreement
between them is near.  Both wooed MG Rover after its collapse in
April, but Nanjing secured the deal with a GBP53 million offer in
July.  While SAIC had managed to acquire the intellectual
property rights to the Rover 25 and 75, and K-Series engine,
Nanjing claimed SAIC's interests extend only to those models.

Mr. Waller said: "There is still a question over the intellectual
property rights.  It remains under review.  I am hopeful that
(they) will come to a resolution in a few weeks.  Nanjing wants
to develop their business while SAIC has a well-established
manufacturing operation in China.  I think there will be an
agreement between them."

Last month, the Sunday Times said Nanjing and SAIC were close to
signing a deal for the production of MG Rover cars in China.
The transaction will see Nanjing manufacture Rover engines and
small cars, while SAIC will build the bigger and more modern
Rover 75 model.

Rover's administration is expected to continue until next year,
with over 2,000 MG Rover cars still to be sold.  Nanjing earlier
unveiled plans to restart operations at Rover's Longbridge plant
by 2007, creating up to 1,200 jobs in the process.  Nanjing Vice
President Wang Qiu Jing noted that the revival of the site could
even be earlier if the development of engines in China proves
successful.  Nanjing has already agreed to build sports cars at
the plant with GB Sports Car Company.  SAIC is still assessing
the viability of assembling cars in the U.K.

CONTACT:  MG ROVER GROUP LIMITED
          Longbridge, Bickenhill
          Birmingham
          B31 2TB, United Kingdom
          Phone: +44-121-475-2101
          Fax: +44-121-482-2403
          Web site: http://www1.mg-rover.com

          NANJING AUTOMOBILE (GROUP) CORPORATION
          General Management Division
          Phone: 86-25-3432671
          Fax: 86-25-3111295 3417873
          E-mail: bnj3111037@jlonline.com
          Web site: http://www.nanqi.com.cn


NEW INSPIRATION: Collapses into Liquidation
-------------------------------------------
New Inspiration Limited informs that a resolution to wind up the
company was passed at an EGM held on Sept. 23 at 601 High Road,
Leytonstone, London E11 1PA.  Harjinder Johal and George Michael
both of Ashcrofts, 601 High Road, Leytonstone, London E11 4PA
were appointed liquidator.

CONTACT:  NEW INSPIRATION LIMITED
          67, Oxford St,London,W1D 2EN
          Phone: 020 7287 9387


P.A. KEEBLE: Calls in Liquidator
--------------------------------
P. A. Keeble & Sons (Builders) Ltd. informs that a resolution to
wind up the company was passed at an EGM held on Sept. 14 at
Cardinal House, 46 St Nicholas Street, Ipswich, Suffolk IP1 1TT.
Steven M. Law of Ensors, Cardinal House, 46 St Nicholas Street,
Ipswich, Suffolk IP1 1TT was appointed liquidator.

CONTACT:  P. A. KEEBLE & SONS (BUILDERS) LTD.
          Hadleigh Farm, Raydon, Ipswich, Suffolk IP7 5PZ
          Phone: 01473310491

          ENSORS
          Cardinal House
          46 St Nicholas Street
          Ipswich, Suffolk IP1 1TT
          Phone: 01473 220022
          Fax: 01473 220033
          Web site: http://www.ensors.co.uk


PROCON DESIGN: Appoints Deloitte & Touche Liquidator
----------------------------------------------------
L. M. Belton, Chairman of Procon Design & Build Ltd., informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 19 at the Ramada Peterborough, Thorpe Meadows, off
Longthorpe Parkway, Peterborough PE3 6GA.  Aileen Jane Crooks of
Deloitte & Touche LLP, City House, 126-130 Hills Road, Cambridge
CB2 1RY was appointed liquidator.

CONTACT:  PROCON DESIGN & BUILD LTD.
          The Grainstore Glinton Road
          Helpston, Peterbourough
          PE6 7DG
          Contact:
          Mr. Steve Cutt
          Phone: 01733253800
          Fax: 01733 253801

          DELOITTE & TOUCHE LLP
          City House,
          126-130 Hills Road,
          Cambridge CB2 1RY
          Web site: http://www.deloitte.com


RANK GROUP: Weak Results Trigger Ratings Review
-----------------------------------------------
Standard & Poor's Ratings Services placed its 'BBB-' long-term
and 'A-3' short-term corporate credit ratings on U.K.-based
diversified leisure and entertainment company The Rank Group PLC
on CreditWatch with negative implications.

The CreditWatch placement reflects Rank's continued intention to
sell its Deluxe film processing and media services unit.  It
follows weak first-half 2005 results, a situation that increases
the probability of a more aggressive financial profile if Deluxe
is sold, and Standard & Poor's expectation that the company will
return funds to shareholders if the sale is completed.

"Rank's financial profile weakened in the first half of 2005 due
to lower profitability, and the outlook for the second half
remains tough," said Standard & Poor's credit analyst Olli
Rouhiainen.

"Rank needs to show stable profitability to maintain its current
ratings.  The company would also be expected to apply a large
proportion of sale proceeds from Deluxe to debt reduction, in
order to meet the financial targets mentioned above and thereby
retain its current investment-grade status," he added.

Standard & Poor's expects that, if Rank is successful in selling
Deluxe, continues as primarily a U.K.-based gaming business, and
decides to return significant funds to shareholders, any
downgrade would likely be by more than one notch.  This reflects
the history of highly leveraged transactions in this sector,
which offer the company a clear opportunity to maximize
shareholder returns.

In Standard & Poor's view, if the Deluxe sale is unsuccessful,
Rank will need to illustrate an unchanged financial policy to
maintain its current ratings.  The company is making progress on
the sale of Deluxe and has confirmed it is looking for a sale of
the business.

Standard & Poor's aims to resolve the CreditWatch placement as
soon as the situation with regard to Deluxe becomes clear.

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:  THE RANK GROUP PLC
          Investor Relations
          6 Connaught Place
          London W2 2EZ
          Phone: +44 (0) 20 7706 1111
          Fax: +44 (0) 20 7706 1092
          Web site: http://www.rank.com


RIDGE MEDIA: Calls in Administrator from Robson Laidler
-------------------------------------------------------
William Paxton (IP No 8825) of Robson Laidler LLP was appointed
administrator of Ridge Media Limited (Company No 04387759) on
Sept. 21.  The company's registered office is at 17-25
Gallowgate, Newcastle upon Tyne NE1 4SG.

Ridge media offers a wide range of skills encompassing
object-oriented programming, interactive-media skills, 3D
visualization and large-scale systems design.

CONTACT:  RIDGE MEDIA LTD.
          Cuthbert House
          City Road, All Saint
          Newcastle, Newcastle Upon Tyne
          Tyne And Wear NE1 2ET
          Phone: 0191 350 6005

          ROBSON LAIDLER LLP
          Fernwood House,
          Fernwood Road, Jesmond,
          Newscastle upon Tyne
          Liquidator:
          W Paxton
          Phone: 0191 281 8191
          Fax:   0191 281 6279
          Web site: http://www.robson-laidler.co.uk


REGAL PETROLEUM: Case Against Former Unit Delayed
-------------------------------------------------
Following a request by Regal Petroleum plc to the State Committee
of Natural Resources of Ukraine, the company has received a
formal letter from the Ministry confirming the validity of all of
Regal's licenses and permits in Ukraine for
Mekhedivsko-Golotovschinske (License # 3334) and Svyrydivske
(License # 3335) gas and condensate fields.

The confirmation of the validity of Regal's 20-year production
licenses follows the further confirmation announced on 3 October
2005 of the authorization by the Ministry of Fuel and Energy of
Ukraine through the issue of Order No. 492 for the commercial
production of the company's Svyrydivske license in Ukraine.

Regal has also been informed by its counsel in Ukraine that the
court proceedings relating to the former joint venture in the
Ukraine between Regal and Chernihivnaftogasgeology has been
further delayed.  Regal will make an announcement as soon as the
hearing is completed.

                        About the Company

Regal Petroleum plc is a London-based independent oil and gas
producer listed on the Alternative Investment Market of the
London Stock Exchange.  It focuses on the exploration,
development and production of oil and gas assets in Ukraine,
Greece, Romania, Egypt and Liberia.

Frank Timis, who served as executive chairman until he stepped
down in June, established the company in 1996.  He resigned as
the company's annual losses quadrupled.  For the year ending
December 31, losses amounted to US$13.7 million, up from US$2.9
million a year earlier.

Since March, the company has lost 83% of its value, with shares
plunging significantly at the end of April when Regal raised
GBP45 million at 390 pence a share following its discovery of a
gas prospect in Romania.  It sank further when a well at its
prospect in Greece was found to be not commercially viable for
exploration.

CONTACT:  REGAL PETROLEUM PLC
          4th Floor
          11 Berkeley Street
          London, England W1J 8DS
          Phone: +44 20 7647 6622
          Fax: +44 20 7629 4297
          Web site: http://www.regalpetroleum.com
          Contact:
          Roger Phillips, Finance Director
          Phone: 020 7408 9500

          Buchanan Communications
          Phone: 020 7466 5000
          Bobby Morse


RIX OFF SITE: Files for Liquidation
-----------------------------------
E. W. James, Director of Rix Off Site Coatings Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 14 at 14 Wood Street, Bolton BL1 1DZ.  Peter
Anthony Jackson was appointed liquidator.

CONTACT:  RIX OFF SITE COATINGS LTD.
          Unit 11/Horwich Business Pk/Chorley New Rd
          Horwich
          Bolton
          BL6 5UE
          Phone: 01204 667516

          JACKSON GREGORY & CO
          14 Wood Street, Bolton BL1 1DZ


ROMFORD & ESSEX: Names Baker Tilly Liquidator
---------------------------------------------
S. Gower, chairman of Romford & Essex Accident Repair Centre
Ltd., informs that a resolution to wind up the company was passed
at an EGM held on Sept. 2 at Holiday Inn, Brook Street,
Brentwood, Essex CM14 5NF.  Graham Paul Bushby and Guy Edward
Brooke Mander of Baker Tilly, 5th Floor, Exchange House, 446
Midsummer Boulevard, Central Milton Keynes MK9 2EA were appointed
Joint Liquidators.

CONTACT:  ROMFORD & ESSEX ACCIDENT REPAIR CENTRE LTD.
          33 Tallon Road, Hutton
          Brentwood, Essex, CM13 1TJ
          Phone: 01277 204000

          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


ROYAL & SUNALLIANCE: Canadian Unit Buys Morgex Insurance
--------------------------------------------------------
Royal & SunAlliance Insurance Group plc has disclosed that Royal
& SunAlliance Canada, through its subsidiary, Johnson Inc., has
acquired the commercial rights to the business of Morgex
Insurance Group for CA$44.7 million (GBP21.5 million).  The
consideration, payable in cash, is for the commercial rights to
the main insurance activities, non-core business and other
assets.

Simon Lee, chief executive of Royal SunAlliance International
business said: "Over the last five years Johnson's has more than
doubled in size through a combination of organic growth and
acquisitions while delivering strong bottom line performance. The
purchase of Morgex's business will double our market position in
Alberta and further strengthen the Johnson's franchise."

Morgex was established in 1986 and is a leading player in the
personal and commercial market in Alberta, Canada.  Gross written
premium volumes for 2004 were CA$73 million for the core
insurance portfolio.  Johnson Inc. was founded in 1880 and is one
of Canada's leading insurance and benefit providers.  It has over
2 million customers and over 40 branches.

                        About the Company

Royal & SunAlliance is a FTSE 100 company, listed on the London
Stock Exchange and in New York.  The group consists of three
regions -- U.K., Scandinavia and International -- with operations
in 30 countries, providing general insurance products to over 20
million customers worldwide.

Last month, Royal & SunAlliance revealed a provisional estimate
of up to GBP25 million, net of reinsurance recoveries, for claims
arising from the recent hurricane (Katrina) in the U.S.  The
losses are expected to arise in the Group's Marine and Global and
Risk Managed portfolios.  The provisional loss estimate includes
a very limited exposure from the Group's U.S. business following
its restructure in 2003.

The company has decided to transfer its employees from pensions
based on final salaries to packages based on average career
earnings.  It aims to cut about GBP180 million from the company's
GBP500 million pension fund deficit.

The measure is part of the company's ongoing restructuring, which
comes amid mounting claims and weak investments.  The company is
said to have improved its risk profile, but it has not yet
totally eliminated the threat of potentially large claims in the
U.S.  The latter could dampen interest of prospective buyers,
according to analysts.

CONTACT:  ROYAL & SUNALLIANCE INSURANCE GROUP PLC
          30 Berkeley Sq.
          London
          W1J 6EW, United Kingdom
          Phone: +44-20-7636-3450
          Fax: +44-20-7636-3451
          Web site: http://www.royalsunalliance.com


SENATOR PROJECTS: Calls in Mazars Liquidator
--------------------------------------------
B. J. Crossley, Chairman of Senator Projects Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Sept. 20 at Mazars LLP, Merchant Exchange, Whitworth
Street West, Manchester M1 5WG.

Tim Alan Askham of Mazars LLP, Merchant Exchange, Whitworth
Street West, Manchester M1 5WG and Paul Charlton, of Mazars LLP,
Mazars House, Gelderd Road, Gildersome, Leeds LS27 7JN was
appointed liquidator.

CONTACT:  SENATOR PROJECTS LTD.
          The Pattern House
          Crossley Park
          Manchester
          M19 2SH
          Lancashire
          Phone: 0161 432 5080
          Fax: 0161 432 6100

          MAZARS LLP
          Merchant Exchange
          Whitworth Street West
          Manchester M1 5WG
          Phone: 0161 209 5050
          Fax: 0161 236 6068
          Web site: http://www.mazars.co.uk


SNOW EAST: General Meeting Set Late October
-------------------------------------------
B. W. Prince, Liquidator of Snow East Anglian Properties Limited,
informs that a General Meeting of the Members of the Company will
be held at the offices of Somers Baker Prince Kurz, at 45 Ealing
Road, Wembley, Middlesex HA0 4BA, on Thursday 27 October 2005, at
10:30 a.m.

CONTACT:  SNOW EAST ANGLIAN PROPERTIES LTD.
          Ross House, 144 Southwark Street, LONDON SE1 0SZ
          Phone: 020-8903-0337


SOUTH WEST: Appoints Liquidator
-------------------------------
S. Chamberlain, Director of The South West Pallet Network
Limited, informs that resolutions to wind up the company were
passed at an EGM held on Sept. 15 at The Honiton Motel, Turks
Head Lane, Exeter Road, Honiton EX14 8BL.

Geoffrey John Kirk was appointed liquidator.

CONTACT:  SOUTH WEST PALLET NETWORK LTD.
          Unit 2/Honiton Business Pk/Ottery Moor La
          Honiton
          EX14 1BG
          Phone: 01404 548720


SWAN FIELDS: Packaging Firm Folds up
------------------------------------
Swan Fields Limited has fallen into administration due to bad
debts, poor trading and tough competition from overseas rivals,
said icBirmingham.

The West Bromwich firm, which employs 65 people, produces printed
folding cartons and litho-laminated packaging.

Andy McGill, of KPMG Corporate Recovery, said: "Swan Fields has
been suffering from poor trading due to increased overseas
competition and consequential reduced order intake, and downward
pressure on profit margins."

He added that their aim was to resume operations of the business
as a going concern.

CONTACT:  SWAN FIELDS LIMITED
          Great Bridge Street
          West Bromwich
          West Midlands
          B70 0BT
     Phone: 0121522 0600
          Fax 0121522 2686
          E-mail: sales@swanfields.co.uk
          Web site: http://www.swanfields.co.uk

          KMPG LLP
          8 Salisbury Square
          London
          EC4Y 8BB
          Phone: (020) 7311 1000
          Fax: (020) 7311 331
          Web site: http://www.kpmg.co.uk


TDAO LIMITED: Hires Vantis Numerica as Administrator
----------------------------------------------------
Lynn Robert Bailey and Alan Roy Limb (IP Nos 6496 and 8955) of
Vantis Numerica were appointed joint administrators of TDAO
Limited (Company No 03222070) on Sept. 20.

TDAO Limited is based in Leicestershire, U.K.  It specializes in
research and development of electronic inter-connection methods.
Visit http://www.tdao.com/for more information.

CONTACT:  TDAO LTD.
          Unit E2 Valley Way
          Welland Industrial Estate
          Market Harborough LE16 7PS
          Leicestershire
          Phone: 01858 469120
          Fax: 01858 469130

          VANTIS NUMERICA
          Stoughton House
          Harborough Road
          Oadby
          Leicestershire LE2 4LP
          Phone: 0116 272 8200
          Fax: 0116 271 5472
          E-mail: bob.bailey@numerica.biz
          Web site: http://www.vantisnumerica.com


WILLOW BRIDGE: In Liquidation
-----------------------------
T. Martin, Director of Willow Bridge Outlet Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Sept. 20 at First Floor, Park House, Park Square West, Leeds LS1
2PS.

Timothy Calverley of Haines Watts, First Floor, Park House, Park
Square West, Leeds LS1 2PS was appointed liquidator.

CONTACT:  WILLOW BRIDGE OUTLET LTD.
          Lock La
          Castleford
          WF10 2JU
          Phone: 01977 552121

          HAINES WATTS
          First Floor, Park House,
          Park Square West, Leeds LS1 2PS
          Phone: 0113 398 1100
          Fax:   0113 398 1101
          Web site: http://www.hwca.com


WM MORRISONS: To Name Citigroup Broker, Paul Manduca Audit Chair
----------------------------------------------------------------
Wm Morrison Supermarkets plc plans to name Citigroup joint broker
and Paul Manduca chairman of its audit committee, The Telegraph
says.

If these plans materialize, Citigroup will join ABN Amro, while
Mr. Manduca will take the post currently held by Deputy Chairman
David Jones.  The proposed appointments, which also involve
non-executive director Susan Murray becoming chairman of the
remuneration committee, are thought to have been tackled at a
board meeting last week.

The company is set to release interim results for the 25 weeks to
July 24, 2005 later this month.  Along with the announcements
regarding the board changes, Morrison is expected to reveal the
outcome of KPMG's financial review.

Morrisons is looking at profits before tax and exceptional
charges within the range of GBP50 million to GBP150 million for
2005.  It has made five profits warning since buying Safeway last
year.  Last month, Mr. Jones insisted he is not stepping down as
deputy chairman, stressing he is "not a quitter."  He also
brushed aside his rumored strained relationship with Chairman Sir
Ken Morrison.  Sir Ken is said to be in favor of Paul Manduca,
who joined the board last month, to take over Mr. Jones'
position.

CONTACT:  WM MORRISON SUPERMARKETS PLC
          Hilmore House
          Thornton Road
          Bradford
          West Yorkshire
          England
          BD8 9AX
          Phone: +44 1274 494166
          Fax: +44 1274 494831
          Web site: http://www.morereasons.co.uk


                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed to
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