TCREUR_Public/051209.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Friday, December 9, 2005, Vol. 6, No. 244

                            Headlines

B U L G A R I A

PIRAEUS EUROBANK: Moody's Revises Outlook to Positive


C Z E C H   R E P U B L I C

SEOBECNA ZDRAVOTNI: Rath Delays Reply to Senate's Questions


F I N L A N D

BENEFON OYJ: Approves Share Subscriptions with Options
BENEFON OYJ: Sets Option Program 2005B Share Subscription Prices


F R A N C E

LANSON INTERNATIONAL: Names Butler Capital Sole Bidder


G E R M A N Y

BECKER SPORTSYSTEMS: Court to Verify Claims April
BERGWERKE GESELLSCHAFT: Goes Belly up
COLORAMA BEDACHUNGS: Creditors' Claims Due Next Month
CR DIENSTLEISTUNG: Braunschweig Court Appoints Administrator
FJH AG: Partners with Steria Mummert Consulting

GEA GROUP: Acquires Flatplate for Undisclosed Sum
HERMANN GMBH: Creditors to Meet February
HSS HEIZUNG: Proofs of Claim Due Later this Month
INTERTAINMENT AG: Walking on Tightrope
KIRCHMEDIA GMBH: Federal Court Hears Deutsche Bank's Appeal

KOOKABURRA BOCHUM: Bochum Firm Succumbs to Bankruptcy
LIETZ GMBH: Under Bankruptcy Administration
PLUSPUNKTBIO GMBH: Essen Court Appoints Administrator
ROLF ASSFELDER: Creditors Meeting Set Next Month


N E T H E R L A N D S

ALMATIS HOLDING: S&P Affirms B+ Rating After LBO Cancellation
HAGEMEYER N.V.: Takes Full Control of El-Centrum
KONINKLIJKE AHOLD: Sells Shopping Centers to ING for EUR108 Mln
ROYAL SHELL: Buys back 2 Million 'A' Shares


P O L A N D

ELEKTRIM SA: Ruling on PTC Dispute Out Dec. 21


R U S S I A

AEROFLOT: Awards RRJ Maker US$820 Million Contract
BUGULMINSKIY WOOD: Insolvency Manager Takes over Firm
ISKITIMSKIY BAKERY: Bankruptcy Hearing Set Next Month
MECHETLINSKIY DAIRY: Declared Insolvent
POTASHKINSKOYE: Bankruptcy Hearing Set January 12

SEL-KHOZ-KHIMIYA: Insolvency Manager Enters Firm
STARODUBSKIY METALLIST: Succumbs to Bankruptcy
SUNDYRSKOYE: Under Bankruptcy Supervision
TAGANROGSKIY BREWERY: Succumbs to Bankruptcy
TARASOVSK-OIL: Bankruptcy Supervision Begins
TRANS-SEA-FOOD: Primorye Court Appoints Insolvency Manager
YUKOS OIL: CNOOC Leads Bidders for Non-core Assets


U K R A I N E

GORLIVKA AUTO 11401: Declared Insolvent
MIHAJLIVSKE: Succumbs to Insolvency
PIVDENNA: Undergoes Bankruptcy Supervision Procedure
RAHIVHLIB: Creditors' Claims Due Next Week
SATURN: Court Appoints Insolvency Manager
UKRVTORCHERMET: Bankruptcy Supervision Starts


U N I T E D   K I N G D O M

ACE LIMITED: Appoints Administrator from Abbey Taylor
ANGLO AMERICAN: To Pay Creditors in Full
AUSTIN FRIARS: Calls in Liquidator
BANBURY SHOPPING: Liquidators from Deloitte & Touche Enter Firm
CENTER PARCS: Half-year Profit Drops Slightly to GBP13.4 Million

CORUS GROUP: Rail Unit Has New Managing Director
HIGHCRAFT SERVICES: Files for Liquidation
INTERTEK GROUP: Strikes 'Exchange Deal' with DEKRA
KRS ROOFING: Names Begbies Traynor Liquidator
LAB (LONDON): Bar Operator Appoints Administrator

LINROY & SON: Goes into Liquidation
MMM GROUP: Publishing Firm Liquidates
MOLCO HAULAGE: Appoints Liquidator from Begbies Traynor
MOWLEM PLC: Bows to Carillion's GBP290 Million Takeover Offer
MOWLEM PLC: Fitch Affirms BB Senior Unsecured Rating

NTL INC.: S&P Reviews Rating Following Approach on Virgin Mobile
PRECISION SAWING: PKF to Liquidate Business
PREMIER STRUCTURAL: Calls in Liquidator from Albert Goodman
REGAL PETROLEUM: Ukraine's High Court Junks CNGG's Latest Appeal
REPUBLIC NEW YORK: Names Deloitte & Touche Liquidator

R. GREENE: Liquidators from Carter Backer Winter Enter Firm
ROBINSON STEEL: Calls in Administrators from Kroll Limited
SEVERN TRENT: Facing Criminal Investigation in Belgium
SILK FLOWER: Calls in Administrator
TOPCRAFT PROPERTY: In Liquidation

TRACOAIR LIMITED: Grant Thornton Administrators Move in
TUNNEL TYRES: Calls in Liquidator
TURBAN FOODS: EGM Passes Winding-up Resolution
W P MORTGAGE: Files for Liquidation


                            *********


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


PIRAEUS EUROBANK: Moody's Revises Outlook to Positive
-----------------------------------------------------
Moody's Investors Service has changed the outlook on Piraeus
Eurobank's E+ financial strength rating (FSR) to positive from
stable.  The outlook for the bank's Ba1/NP foreign currency
deposit ratings remains unchanged, at positive, in line with the
ceiling for such deposits in Bulgaria.

According to Moody's this rating action reflects the franchise
strengthening potential that the bank's new shareholder, the
Greek Piraeus Bank (rated at Baa1/P-2/C-) will bring to the
smaller institution in Bulgaria.  Piraeus Eurobank's E+ FSR
partly reflects its modest current franchise in an environment
dominated by much larger, foreign-owned banks.  Though the bank
has been quite profitable for a number of years, there had been
concerns about the stability and sustainability of its market
positions and revenue streams.  In changing the outlook to
positive, Moody's notes that the involvement of the bank's new
shareholder is expected to contribute to the bank's franchise
strengthening and profitability.

The integration process, which will involve the merger of
Eurobank with Piraeus Bank's own operations in Bulgaria in 2006,
is already well under way, and will transform the merged entity
bank into a full-fledged subsidiary of Piraeus Bank.  Moody's
notes in particular, Piraeus Bank's contribution to risk
management practices, product development and marketing that --
along with extra management resources -- will provide a better
framework for profitable growth.

Moody's future rating actions will be based on the degree to
which the bank's franchise-strengthening exercise is successfully
executed, and on consequent improvements in its earnings and risk
profiles.

Headquartered in Sofia, Bulgaria, Piraeus Eurobank AD had total
assets of BGL486.5 million (EUR248.7 million) at end-September
2005.

CONTACT:  MOODY'S INVESTORS SERVICE CYPRUS LIMITED (LIMASSOL)
          Mardig Haladjian, General Manager
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454

          George Chrysaphinis, Asst Vice President - Analyst
          Financial Institutions Group
          Phone: (Journalists) 44 20 7772 5456
                 (Subscribers) 44 20 7772 5454


===========================
C Z E C H   R E P U B L I C
===========================


SEOBECNA ZDRAVOTNI: Rath Delays Reply to Senate's Questions
-----------------------------------------------------------
Health Minister David Rath refused to submit a written
explanation why he placed Seobecna zdravotni pojistovna Ceske
republiky (The General Health Insurance Company, VZP) under
forced administration at the date set by the Senate.  Mr. Rath
plans to send the report next week, way past the Wednesday
deadline the house had given him, according to Czech Happenings.

The deadline is 30 days, but the Senate wanted an early reply
because Mr. Rath applied forced administration against VZP in his
first week at the ministry.  Antonin Pecenka was appointed
administrator on Nov. 10.  VZP, which operates on an annual
budget of CZK200 billion, has racked up debt of CZK10 billion.
The amount could go up to CZK14 billion by the end of the year

The Senate requested a written explanation after Mr. Rath refused
to come personally to give details of the measures the ministry
had taken to help the firm before it was placed under forced
administration.  The chamber also wanted to know where he sees
"the real causes of the deficit of the system of public health
insurance."

Mr. Rath said the chamber has no right to assign ministers with
tasks.  However, according to the report, this is possible under
the law on the Senate's order of procedure.

CONTACT:  VSEOBECNA ZDRAVOTNI POJISTOVNA CESKE REPUBLIKY
          (The General Health Insurance Company)
          Orlicka 4/2020
          130 00 Praha 3
          Czech Republic
          Phone: 221 751 111
          E-mail: info@vzp.cz
          Web site: http://www.vzp.cz


=============
F I N L A N D
=============


BENEFON OYJ: Approves Share Subscriptions with Options
------------------------------------------------------
The Board of Benefon Oyj has approved these share subscriptions
made by virtue of option rights Benefon 2004A, given by the Board
to investors as made public on Nov. 10, 2005:

Subscriber     Subscribed shares  Total subscription price/euros
Ashland Partners  1,466,666           205,333.24
MMA Limited    740,385           103,653.90
Biggles Limited    740,385           103,653.90
Tomi Raita          152,564            21,358.96
Total        3,100,000           434,000.00

The subscriptions have been made on subscription list and the
total subscription price corresponding to the subscriptions at
the share subscription price of EUR0.14 per share in accordance
with the option terms have been paid on the account of the
Company.

Due to the subscriptions, the share capital of the Company will
increase by EUR31,000.00 from EUR1,281,540.46 to EUR1,312,540.46
and the number of outstanding shares by 3,100,000 from
128,154,046 to 131,254,046.

                        About the Company

Headquartered in Salo, Finland, Benefon provides mobile
telematics solutions for saving lives, securing assets and
improving field management.  It applied for statutory corporate
reorganization with the court of first instance in Turku on April
24, 2003 after failing to get funding on time.  In June this
year, Benefon decided to end the reorganization program ahead of
schedule.  The decision of the Turku District Court became
legally enforceable on June 20, 2005 and the Company reported
after the end of the period on July 4, 2005 that in accordance
with the approved program amendment it had paid off all
non-collateralized debt.

At the same time, the Company also paid to non-collateralized
creditors of the Company additional payments, which more than
doubled the payments to the non-collateralized creditors
determined in the reorganization program.

Benefon is issuing a convertible bond loan Benefon 2005A of
EUR500,000 to MMA Limited and Biggles Limited to raise funds
needed to sustain the firm until the completion of the on-going
strategic financing program and.
Benefon is facing a patent suit raised against it by Magi.tel in
Rome, Italy.

CONTACT:  BENEFON OYJ
          Jonathan Bate, CEO
          Phone: +44 1753 752 464
          E-mail: jonathan.bate@benefon.fi
          Web site: http://www.benefon.com


BENEFON OYJ: Sets Option Program 2005B Share Subscription Prices
----------------------------------------------------------------
In accordance with the option terms, the share subscription price
in the option program Benefon 2005B, decided on Sept. 5, 2005 by
the extraordinary general meeting of Benefon Oyj and comprising a
total maximum of 20 million option rights divided into four
option classes A, B, C and D, is determined separately for each
class on basis of the volume weighted average price at Helsinki
Exchanges during period Oct. 1 to Nov. 30, 2005.

According to the information provided by the Exchange, the said
average price of the share became as EUR0.34.  In accordance with
the option terms, the share price in share subscriptions made by
virtue of the said option rights by option classes A, B, C, D
shall be the said average price of the share increased by the
following percentages 25%, 50%, 100%, 200%, respectively.

The amounts and the share subscription periods and prices by
option class in accordance with the option terms and on basis of
the said now determined average share price are:

Option class   Share subscription period     Subscription
and amount                                      price
A 3.000.000  Jan. 1, 2006-Dec. 31, 2008  EUR0.4250
B 5.000.000  Jan. 1, 2007-Dec. 31, 2008  EUR0.5100
C 7.000.000  Jan. 1, 2008-Dec. 31, 2008  EUR0.6800
D 5.000.000  July 1, 2008-Dec. 31, 2008  EUR1.0200

According to the option terms, the subscription period for all
option rights in the option program Benefon 2005B shall begin
upon the decision being registered, which took place on Oct. 19,
2005, and shall expire six months thereof, or on April 19, 2006.
Until now, no options in this program have been subscribed for.

                        About the Company

Headquartered in Salo, Finland, Benefon provides mobile
telematics solutions for saving lives, securing assets and
improving field management.  It applied for statutory corporate
reorganization with the court of first instance in Turku on April
24, 2003 after failing to get funding on time.  In June this
year, Benefon decided to end the reorganization program ahead of
schedule.  The decision of the Turku District Court became
legally enforceable on June 20, 2005 and the Company reported
after the end of the period on July 4, 2005 that in accordance
with the approved program amendment it had paid off all
non-collateralized debt.

At the same time, the Company also paid to non-collateralized
creditors of the Company additional payments, which more than
doubled the payments to the non-collateralized creditors
determined in the reorganization program.

Benefon is issuing a convertible bond loan Benefon 2005A of
EUR500,000 to MMA Limited and Biggles Limited to raise funds
needed to sustain the firm until the completion of the on-going
strategic financing program and.
Benefon is facing a patent suit raised against it by Magi.tel in
Rome, Italy.

CONTACT:  BENEFON OYJ
          Jonathan Bate, CEO
          Phone: +44 1753 752 464
          E-mail: jonathan.bate@benefon.fi
          Web site: http://www.benefon.com


===========
F R A N C E
===========


LANSON INTERNATIONAL: Names Butler Capital Sole Bidder
------------------------------------------------------
Five of six bidders for Lanson International have withdrawn their
offer for the debt-laden champagne maker, Le Figaro says.

Butler Capital Partners became Lanson's sole bidder after
Jean-Claude Darmon and champagne house Boizel Chanoine Champagne
(BCC) withdrew their bids.  According to Le Figaro,
representatives of the Mora family and Caisse Nationale des
Caisses d'Epargne et de Prevoyance, Lanson's owners, have started
exclusive talks with Butler.

TCR-Europe reported on Nov. 28, 2005 that six bidders were eyeing
Lanson: LVMH Moet Hennessy Louis Vuitton S.A., in partnership
with Alan Thienot; Boizel Chanoine Champagne; Butler Capital
Partners; a consortium made up of investment bank Credit Agricole
S.A. and the Rothschilds and Gardiniers families; private equity
fund Bridgepoint; and Mr. Darmon.

Lanson is the country's second-largest champagne producer by
volume.  It has been up for sale since June.  Set up in 1760,
Lanson manufactures Champagne Lanson, Besserat de Bellefon and
Gauthier.  The group has annual sales of EUR220 million and debt
of EUR410 million.

CONTACT:  LANSON INTERNATIONAL
          12 Boulevard Lundy
          51100 Reims
          Phone: +33 (0) 3 26 78 50 50
          Fax: +33 (0) 3 26 78 50 99
          E-mail: info@lanson.fr
          Web site: http://www.lanson.fr


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


BECKER SPORTSYSTEMS: Court to Verify Claims April
-------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Becker SportSystems GmbH on November 23.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until February 20,
2006 to register their claims with court-appointed provisional
administrator Hartwig Albers.

Creditors and other interested parties are encouraged to attend
the meeting on December 20, 2005, 10:00 a.m. at the district
court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II.
Stock Saal 218, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report on April
25, 2006, 9:40 a.m. at the same venue.

CONTACT:  BECKER SPORTSYSTEMS GmbH
          Sperenberger Strasse 5 a, 12277 Berlin

          Hartwig Albers, Administrator
          Luetzowstr. 100, 10785 Berlin


BERGWERKE GESELLSCHAFT: Goes Belly up
-------------------------------------
The district court of Cuxhaven opened bankruptcy proceedings
against Bergwerke Gesellschaft fuer gute Unterhaltung mbH on
November 17.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
December 23, 2005 to register their claims with court-appointed
provisional administrator Dr. jur. Christian Strauss.

Creditors and other interested parties are encouraged to attend
the meeting on January 31, 2006, 11:15 a.m. at the district court
of Cuxhaven, Saal 112, Altbau, Deichstr. 12a, 27472 Cuxhaven, 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:  BERGWERKE GESELLSCHAFT FUER GUTE UNTERHALTUNG mbH
          Abschnede 208, 27474 Cuxhaven
          Contact:
          Frank Tiedemann, Manager
          Westerreihe 21, 27472 Cuxhaven

          Dr. jur. Christian Strauss, Administrator
          Friedrich-Missler-Str. 42, 28211 Bremen
          Phone: 0421/7926260
          Fax: 0421/7926285


COLORAMA BEDACHUNGS: Creditors' Claims Due Next Month
-----------------------------------------------------
The district court of Kempten opened bankruptcy proceedings
against COLORAMA Bedachungs- und Malermeisterbetrieb GmbH & Co.
KG on November 18, 2005.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until January 3, 2006 to register their claims with
court-appointed provisional administrator Markus Frohlich.

Creditors and other interested parties are encouraged to attend
the meeting on January 24, 2006, 9:20 a.m. at the district court
of Kempten, Zi. Nr. 144/I des Amtsgerichts in 87435 Kempten,
Residenzplatz 4-6, 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:  COLORAMA BEDACHUNGS- UND MALERMEISTERBETRIEB GmbH
          & Co. KG
          Von-Behring-Strasse 7 A in 88131 Lindau

          Markus Frohlich, Administrator
          Ehlersstr. 11, 88046 Friedrichshafen
          Phone: (07541) 7008-70
          Fax: (07541) 7008-78


CR DIENSTLEISTUNG: Braunschweig Court Appoints Administrator
------------------------------------------------------------
The district court of Braunschweig opened bankruptcy proceedings
against CR Dienstleistung Verwaltungsgesellschaft mbH on November
16.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until January 5,
2006 to register their claims with court-appointed provisional
administrator Andreas Jakob.

Creditors and other interested parties are encouraged to attend
the meeting on February 1, 2006, 11:15 a.m. at the district court
of Braunschweig, An der Martinikirche 8, 38100 Braunschweig, 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:  CR DIENSTLEISTUNG VERWALTUNGSGESELLSCHAFT mbH
          Hannoversche Strasse 65, 38116 Braunschweig
          Contact:
          Christian Boeker, Manager

          Andreas Jakob, Administrator
          Museumstrasse 5, D-38100 Braunschweig
          Phone: 0531/88626-0
          Fax: 0531/88626-26


FJH AG: Partners with Steria Mummert Consulting
-----------------------------------------------
FJH, the specialist consultancy and software house for the
insurance sector, and the consultancy experts Mummert Consulting
have signed a cooperation agreement, joining forces to expand
their service offering for authorities and public-sector clients.

"In future, we plan to offer joint consulting and software
solutions to authorities and public-sector clients in the field
of civil servant grants," says FJH's CEO Ulrich Korff.

Combining both partners' expertise will offer clients significant
savings in process and claims expenses.  According to Mr. Korff,
this cooperation will open up access to new target customer
groups and leverage additional sales potential for FJH.

The new partnership establishes exclusive cooperation in the
field of civil servant grants, a system where employees in the
public sector receive subsidies on their health insurance.  The
administration and processing of applications and transactions by
the public sector grant agencies is extremely labor and
time-intensive.  The procedure can be made far more efficient and
cost-effective by using suitable software and streamlining
processes.

           Synergies and Cost Benefits for Clients and
                      Cooperation Partners
A joint service offering creates a wealth of synergies for the
cooperation partners and also for the customers.  Steria Mummert
brings with it extensive customer contacts among public
authorities and is renowned for its public sector consulting
expertise and leading process know-how.

The support provided by Mummert Consulting will enable FJH to
adapt its existing, flexible solutions in the field of private
health insurance to the requirements of the civil servant grants
system at relatively little cost.  FJA's private health insurance
process and document management solution (FJA VBM PKV) has
already proven itself in several projects.  The solution
comprises the software modules document identification (smartFIX)
and automated document processing (FJA MBV) and can be easily
transferred to the field of civil servant grants, producing
savings in process and personnel costs and also, more
importantly, in grant expenses.

Good Market Prospects

Mr. Korff explains how civil servant grant agencies can achieve
cost reductions: "From our longstanding experience with private
health insurance we know that simply introducing a new solution
for process and document management quickly produces measurable
savings."

FJH and Mummert Consulting therefore believe the joint sales
approach offers good market opportunities.  "This cooperation
allows us to create added value for our public-sector clients.
This will give us an important edge over our competitors and
should give business a further boost from 2006," says Mr. Korff.

About Steria Mummert Consulting

Steria Mummert Consulting is one of the ten leading providers of
management and IT consulting on the German market.  For over 40
years, the firm has been combining acknowledged industry
expertise with comprehensive knowledge of processes and
technology, thereby making a significant contribution to the
sustainable improvement of its customers' successful positioning.

Steria Mummert Consulting focuses consistently on the banking,
insurance, public administration, telecommunications, energy
supply, health care and transport industries.  Moreover, it
deploys cross-sector technologies in value-added solutions.  The
company provides its customers with holistic support along the
entire value-added chain, from consulting and system integration
to the takeover of IT and business processes.

In Germany and Austria, the company employs around 1,300 staff
who have many years of experience in the successful
implementation of complex projects.  Steria Mummert Consulting is
part of the French Steria Group which, with sales of over EUR1.1
billion and more than 9,000 employees, is one of the top 10 IT
service providers in Europe.  Steria is listed on the Euronext
Paris, Eurolist (Compartment B).

About FJH

FJH AG is a leading consultancy and software company for the
insurance and pensions market.  Under its brand name FJA the FJH
Group offers a broad range of software solutions to support
insurance companies and pension providers in all key areas and
issues.  Products include policy administration systems, process
and document management software and point-of-service solutions
through to systems for asset liability management and corporate
control.

FJH has longstanding business relations with around half of all
life insurers in Germany for whom it has successfully implemented
numerous major projects over the last 25 years; its clients also
include renowned health and non-life insurers.  Globally, FJH's
software is used in 20 countries on three continents, including
the USA and Australia and a number of Eastern European countries.

In addition to its headquarters in Munich, the FJH Group also has
German offices in Hamburg, Cologne and Stuttgart.  It also has
subsidiaries in Switzerland, Austria, the USA and Slovenia.   The
Company was founded in 1980 and has been listed on the Frankfurt
Stock Exchange since February 2000.  FJH AG was included in the
Prime Standard index in January 2003.

CONTACT:  FJH AG
          Elsenheimerstr. 65
          80687 Munich
          Phone: +49-(0) 89-769-01-517
          Fax: +49-(0) 89-769-01-606
          Web site: http://www.fjh.com

          Eva Hesse
          Phone: +49-(0) 89-769-01-274
          Fax: +49-(0) 89-769-01-606
          E-mail: eva.hesse@fjh.com


GEA GROUP: Acquires Flatplate for Undisclosed Sum
-------------------------------------------------
GEA Group Aktiengesellschaft has acquired Flatplate Inc., a heat
exchanger specialist based in York (Pennsylvania), U.S.A.  The
parties to the deal have agreed not to disclose the purchase
price.

Flatplate produces brazed plate heat exchangers that can be used
in virtually any industrial process in which media have to be
heated or cooled.  The company currently generates annual sales
of around US$12 million.

"The acquisition will enable the GEA Group to strengthen its
Process Equipment segment and further expand its heat exchanger
business in the U.S.," said Peter Schenk, a member of the
Executive Board of GEA Group Aktiengesellschaft.

                            *   *   *

GEA Group Aktiengesellschaft was formerly Mg Technologies AG.
It was renamed on July 12 as part of a strategic restructuring
launched in 2003.  GEA now stands for "Global Engineering
Alliance" with a head office at am Main to Bochum.

CONTACT:  GEA GROUP AKTIENGESELLSCHAFT
          Phone: +49 (0) 234 980 1081
          Fax: +49 (0) 234 980 1087
          Web site: http://www.geagroup.com


HERMANN GMBH: Creditors to Meet February
----------------------------------------
The district court of Frankfurt (Oder) opened bankruptcy
proceedings against Hermann GmbH Internationale Spedition on
November 22.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
January 12, 2006 to register their claims with court-appointed
provisional administrator Susanne Mueller.

Creditors and other interested parties are encouraged to attend
the meeting on February 16, 2006, 9:05 a.m. at the district court
of Frankfurt (Oder), Muellroser Chaussee 55, 15236 Frankfurt
(Oder), Saal 401, 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:  HERMANN GmbH INTERNATIONALE SPEDITION
          Hans-Schiebel-Platz 1, 16321 Ruednitz

          Susanne Mueller, Administrator
          Vietmannsdorfer Strasse 23, 17268 Templin


HSS HEIZUNG: Proofs of Claim Due Later this Month
-------------------------------------------------
The district court of Frankfurt (Oder) opened bankruptcy
proceedings against HSS Heizung, Sanitar, Solar GmbH on November
25.  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. Ulrich Wenzel.

Creditors and other interested parties are encouraged to attend
the meeting on January 25, 2006, 8:50 a.m. at the district court
of Frankfurt (Oder), at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report
during this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  HSS HEIZUNG, SANITAR, SOLAR GmbH
          Birkenstr. 85, 16352 Basdorf

          Dr. Ulrich Wenzel, Administrator
          Grossbeerenstr. 231, 14480 Potsdam


INTERTAINMENT AG: Walking on Tightrope
--------------------------------------
Film rights trader Intertainment AG threatens to file for
insolvency if it loses its lawsuit against local bank
HypoVereinsbank, Suddeutsche Zeitung says.

At the end of September, Intertainment only had EUR0.1 million in
liquid funds, down from EUR1.7 million at the end of 2004.  The
group also saw nine-month turnover drop drastically from EUR17.4
million in 2004 to EUR1 million this year, mainly due to legal
disputes in the U.S.  For the third quarter of 2005,
Intertainment posted EUR1 million in losses but had EUR66.7
million in receivables.

                            *   *   *

As reported by TCR-Europe on Sep. 19, HypoVereinsbank filed a
partial claim for payment of EUR10 million against Intertainment
AG and Intertainment Licensing GmbH in a proceeding for
documentary evidence before the regional court (Landgericht)
Muenchen I.  The suit was served on Intertainment AG on the
afternoon of September 13, 2005.  The regional court scheduled a
date for an oral hearing on October 7, 2005.

The partial claim relates to a loan amounting to around EUR14
million taken out by Intertainment Licensing GmbH from HVB, for
which Intertainment AG had given a surety.  The legal
representatives of Intertainment are continuing to assume on the
basis of the ongoing settlement negotiations that the matter
will be included in a mutually agreed, concluding arrangement.

Intertainment maintains the legal position defined in the Annual
Report 2004 and presented at the Annual General Meeting.  It is
assuming that HVB and Intertainment had reached a new
arrangement in relation to the settlement of the residual debt.
The new arrangement provides for HVB issuing a debt waiver on a
deferred debt basis.  Within the scope of this deferred debt,
the loan originally due on June 30, 2004 was written down in the
balance sheet for the fiscal year ending 2003 in the amount of
EUR13,583 million and reported under reserves in accordance with
the debt waiver.  A legal opinion was obtained for an appraisal
of the facts.  This formed the basis for the assessment by the
management of Intertainment.

HVB had called in the loan a number of times, including June 30,
2004, despite the new arrangement.  In the opinion of
Intertainment, this was no longer possible on account of the new
arrangement.

                        About the Company

Intertainment has specialized in acquiring theatrical, video and
television film rights with large commercial potential, which it
markets in Germany and in other European countries (including
Eastern Europe).  Among its customers are the most important
media enterprises.  At the same time Intertainment also acquires
the rights to commercialize very viable films for the People's
Republic of China, as this huge market (with about 1.3 billion
people) is currently practically untapped but in the medium term
will realize its big potential.  Through its subsidiary
Intertainment Animation & Merchandising GmbH, it markets
interesting cartoons as well as commercially viable
merchandising rights.

CONTACT:  INTERTAINMENT AG
          Investor Relations
          Frauenplatz 7, 80331 Munich, Germany
          Phone: +49 (0) 89 21699-0
          Fax: +49 (0) 89 21699-11
          E-mail: investor@intertainment.de
          Web site: http://www.intertainment.de


KIRCHMEDIA GMBH: Federal Court Hears Deutsche Bank's Appeal
-----------------------------------------------------------
Deutsche Bank denies it breached confidentiality rules when its
supervisory chairman commented on Kirch Holding's financial
condition shortly before its collapse, Bloomberg News says.

In his appeal of the ruling, which partly blames the bank for the
company's collapse, lawyer Reiner Hall told the Federal Court of
Justice in Karlsruhe the comment made by Rolf Breuer about
KirchMedia's creditworthiness was true.

Mr. Breuer had said, in an interview with Bloomberg News in 2002,
"everything that you can read and hear about [Mr. Kirch] is that
the financial sector isn't prepared to provide further" loans or
equity.  Mr. Hall said his client merely echoed views already
mentioned in articles published by Handelsblatt, Manager Magazin
and other newspapers.

The Munich Higher Regional Court ruled in 2003 that the statement
contributed to the collapse of Leo Kirch's media empire and
violated German secrecy rules.  The court said it may have
deterred other lenders from extending credit to Kirch,
considering that Mr. Breuer was then chief executive officer and
president of Germany's BdB association of banks.

Kirch lawyer Eilert Osterloh said Mr. Breuer's view at the time
was untrue because the company was in the middle of a negotiation
with banks over credit.  These talks eventually broke down and
KirchMedia filed for creditors protection.  The comment, he said,
changed everything because potential lenders withdrew afterwards.

Mr. Kirch asserts that as its banker, Deutsche Bank is vowed to
secrecy regarding its financial state.  The bank had loaned the
company's PrintBeteiligungs unit more than EUR700 million.

On Tuesday, presiding judge Gerd Nobbe said the court's
five-judge panel will decide whether Deutsche Bank can be held
liable for damages to Kirch's entire company or only to the
PrintBeteilungs unit.  A ruling is expected by Jan. 24.  Kirch
execs estimate an award of EUR100 million (US$118 million) in
damages.

Kirch Holding filed for insolvency in June 2002.  The firm was
then Germany's second-largest media company.  Its collapse --
caused by a US$5.7 billion debt incurred during an expansion
drive -- was the country's biggest since World War II.

CONTACT:  DEUTSCHE BANK AG
          Taunusanlage 12
          D-60325 Frankfurt am Main
          Phone: +49 69 910-00 (Mon-Fri from 7:45 AM - 7:00 PM)
          E-mail: deutsche.bank@db.com
          London: +44 20 754 58000
          New York: +1 212 250 2500
          Singapore: +65 6423 8001
          Web site: http://www.db.com/


KOOKABURRA BOCHUM: Bochum Firm Succumbs to Bankruptcy
-----------------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against Kookaburra Bochum GmbH on November 25.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until January 13, 2006 to register their
claims with court-appointed provisional administrator Uwe
Hueggenberg.

Creditors and other interested parties are encouraged to attend
the meeting on February 16, 2006, 7:50 a.m. at the district court
of Bochum, Hauptstelle, Viktoriastrasse 14, 44787 Bochum,
Erdgeschoss, Saal A29, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  KOOKABURRA BOCHUM GmbH
          Suedring 6, 44787 Bochum
          Contact:
          Moustafa El Mesaoudi, Manager
          Grafenwerthstr. 34, 50937 Koln

          Uwe Hueggenberg, Administrator
          Huestrasse 34, 44787 Bochum
          Phone: 964 91-0
          Fax: 964 91-33


LIETZ GMBH: Under Bankruptcy Administration
-------------------------------------------
The district court of Aurich opened bankruptcy proceedings
against Lietz GmbH on November 9.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors had until November 22, 2005 to register their claims
with court-appointed provisional administrator Christian Hanken.

Creditors and other interested parties are encouraged to attend
the meeting on December 22, 2005, 10:00 a.m. at the district
court of Aurich, Schlossplatz 2, 26603 Aurich, 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:  LIETZ GmbH
          Denkenaweg 4, 26736 Krummhorn
          Contact:
          Armin Lietz, Manager
          Kreuzweg 1, 26524 Hage

          Christian Hanken, Administrator
          Wallstrasse 3, D-26409 Wittmund
          Phone: 04462/919114
          Fax: 04462/919191


PLUSPUNKTBIO GMBH: Essen Court Appoints Administrator
-----------------------------------------------------
The district court of Essen opened bankruptcy proceedings against
pluspunktbio GmbH on November 23.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until December 27, 2005 to register their claims
with court-appointed provisional administrator Dr. Frank
Nikolaus.

Creditors and other interested parties are encouraged to attend
the meeting on January 16, 2006, 10:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, 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:  PLUSPUNKTBIO GmbH
          Kopstadtplatz 7, 45127 Essen
          Contact:
          Jorg Buetefuer, Manager
          Spittlerstr. 24, 45144 Essen
          Jorg Degen, Manager

          Dr. Frank Nikolaus, Administrator
          Alfredstr. 108-112, 45131 Essen
          Phone: 87 90 40


ROLF ASSFELDER: Creditors Meeting Set Next Month
------------------------------------------------
The district court of Essen opened bankruptcy proceedings against
Rolf Assfelder GmbH on November 24.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until January 4, 2006 to register their claims
with court-appointed provisional administrator Rolf Weidmann.

Creditors and other interested parties are encouraged to attend
the meeting on January 18, 2006, 1:35 p.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 293, 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:  ROLF ASSFELDER GmbH
          Centrumstrasse 25, 45307 Essen
          Contact:
          Rolf Assfelder, Manager
          Westfalenstrasse 269b, 45276 Essen

          Rolf Weidmann, Administrator
          Einigkeitstr. 9, 45133 Essen
          Phone: 0201/437760
          Fax: 02014377620


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


ALMATIS HOLDING: S&P Affirms B+ Rating After LBO Cancellation
-------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B+' long-term
corporate credit rating on Dutch specialty materials manufacturer
Almatis Holding B.V., on the cancellation of the LBO by the
Investcorp group.

At the same time, the rating was removed from CreditWatch with
negative implications, where it had been placed on Sept. 9, 2005,
following the announcement of the proposed LBO.  The outlook is
stable.

Standard & Poor's also affirmed its 'B-' rating on Almatis'
senior unsecured bonds.

The rating reflects Almatis' relatively small size and aggressive
financial profile.  These factors are somewhat offset by the
group's strong market share in the niche specialty-alumina
market, and its good profitability and cash flow generation
before significant growth-related capital expenditures.

"The affirmation and resolution of the CreditWatch placement are
the direct result of the cancellation of the LBO process," said
Standard & Poor's credit analyst Khaled Zitouni.

Investcorp group, the potential buyer, and Almatis' two owners,
were unable to reach an agreement. Exact termination terms were
not made public.

Standard & Poor's expects that Almatis will be able to maintain
an FFO-to-net-debt ratio of 15%. It does not factor in any new
significant debt addition, such as a new LBO or new pay-in-kind
notes.

"A moderate improvement in Almatis' EBITDA margin, coupled with a
conservative capital expenditure policy and an absence of
debt-financed acquisitions, should sustain the group's ability to
generate free cash flow and to gradually decrease debt in the
medium term," said Mr. Zitouni.

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


HAGEMEYER N.V.: Takes Full Control of El-Centrum
------------------------------------------------
Hagemeyer acquired from General Electric (GE) the remaining 50%
of the shares in El-Centrum, a wholesale distributor of
electrical parts and supplies with a nationwide coverage in
Poland.  In 2000, Hagemeyer acquired the other 50% stake in El-
Centrum and since then El-Centrum had been run as a joint venture
with GE.

El-Centrum has revenues of around EUR50 million and 235 employees
and is one of the leading distributors of electrical materials in
Poland.

Full ownership of El-Centrum gives Hagemeyer an important
position in the electrical distribution business in the Polish
growing Construction & Installation and Industrial markets.  It
will provide a platform for ongoing profitable growth and
expansion in Poland.  The transaction, which is expected to be
closed around the end of the year, still requires formal approval
from the Polish competition authorities.

Hagemeyer had net revenues of EUR4.1 billion in the first nine
months of 2005 (full year 2004: EUR5.4 billion) and employs
approximately 17,200 employees.  More than 90% of Hagemeyer's
total revenue is generated by its core Professional Products and
Services (PPS) business.  PPS focuses on the value-added
business-to-business distribution of electrical parts and
supplies, safety and other Maintenance, Repair and Operations
(MRO) products in more than 25 countries across Europe, North
America and Asia-Pacific.  The remaining part of Hagemeyer's
revenues is realized by its Agencies/Consumer Electronics (ACE)
business, which distributes consumer electronics and branded
products in the Netherlands and Australia and luxury goods in a
number of smaller countries in Asia.  The Hagemeyer Group has its
head office in Naarden, the Netherlands.

CONTACT:  HAGEMEYER N.V.
          Rijksweg 69, P.O. BOX 5111
          1410 AC Naarden
          The Netherlands
          Phone: (035) 6957611
          Fax: (035) 6944396
          Contact: Emilie de Wolf
          Phone: +31 (0) 35 6957676
          Web site: http://www.hagemeyer.com


KONINKLIJKE AHOLD: Sells Shopping Centers to ING for EUR108 Mln
---------------------------------------------------------------
Ahold Central Europe said on Wednesday that it has signed an
agreement to sell the shopping centers it owns in Bielsko Biala
and Elblag, Poland and in Karvina, the Czech Republic to ING
Property Fund Central Europe, a fund managed by ING Real Estate.
The value of the transaction, consisting of a cash consideration
and debt repaid to Ahold, amounts to approximately EUR108
million.

This transaction is expected to close in the first quarter of
2006, and is subject to satisfaction of customary closing
conditions.

Ahold Central Europe, that developed the centers, will continue
to operate its Hypernova hypermarket in Centrum Karvina.  Ahold's
hypermarket operations in the Polish Centers were already
divested in February 2005.

                        About the Company

Ahold got in trouble in 2003 when it admitted a US$500 million
overstatement of EBITA at its U.S. foodservice distribution arm,
requiring restatement of financial accounts for 2002 and previous
years.  In November that year, it announced a 3-year 'Road to
Recovery' program that includes a EUR2.5 billion rights issue,
EUR300 million and US$1.45 billion back-up credit facilities, and
at least EUR2.5 billion in asset sales.  The program is aimed at
returning the company to investment grade by end of 2005.

                         Status to Date

In August, Standard & Poor's Ratings Services raised its long-
term corporate credit ratings on Ahold to 'BB+' from 'BB' with a
stable outlook to reflect substantial improvement of the group's
financial profile in the past 18 months.  This follows the
completion of a significant disposal program, to date exceeding
the stated EUR2.5 billion ($3.1 billion) target.

Standard & Poor's said it would consider an upgrade to investment
grade level only if:

(a) The challenging environment currently prevailing in the
    group's core U.S. and Dutch retail markets improves; and

(b) The ratio of FFO to fully adjusted net debt and the EBITDAR
    coverage of net fixed charges improve beyond 25% and 2.5x,
    respectively.

Despite the group's deleveraging target and the completion of
remaining disposals in 2005, these conditions might not be
achieved in the near term, given the very challenging trading
conditions that are prevailing in the group's core markets.

CONTACT:  ROYAL AHOLD
          Albert Heijnweg 1
          1507 EH Zaandam, The Netherlands
          Phone: +31 (0) 75 659 9111
          Web site: http://www.ahold.com

          Investor Relations
          E-mail: investor.relations@ahold.com
          Phone: +31 (0) 75 659 58 28


ROYAL SHELL: Buys back 2 Million 'A' Shares
-------------------------------------------
On 7 December 2005, Royal Dutch Shell plc purchased for
cancellation 1,400,000 'A' Shares at a price of EUR26.87 per
share.  It further purchased for cancellation 600,000 'A' Shares
at a price of 1,818.40 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 3,945,650,000.

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

                            *   *   *

Shell's buyback scheme is 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, incorporated in England and Wales, is
headquartered in The Hague and 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 proved reserves by almost 6 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


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


ELEKTRIM SA: Ruling on PTC Dispute Out Dec. 21
----------------------------------------------
A Warsaw court will rule on the dispute over the ownership of
mobile phone operator PTC on Dec. 21, 2005, AFX reports citing
Deutsche Telekom.

Elektrim Telekomunikacja, backed by French Vivendi Universal,
recently regained control of PTC after the Polish Business
Registration Court reversed a Vienna arbitration court, which
gave Elektrim and Deutsche Telekom 48% of PTC.  The two remain at
odds over the legality of the decisions.

Vivendi and Elektrim each own 49% of ET.  The remaining 2% of the
stake is controlled by Ymer Finance, which Elektrim says is
controlled by Vivendi.  Vivendi is denying the claim, saying Ymer
is independent.

Elektrim acquired 15.8% of PTC from BRE Bank, Kulczyk Holding and
insurance company Warta about six years ago, increasing its
shareholding to 51%.  It later transferred 48% to ET despite
Deutsche Telekom's insistence of a right of first refusal.  The
entry of Vivendi Universal into the picture forced them to seek
arbitration.

Elektrim S.A. is a public holding company quoted on the Warsaw
Stock Exchange since 1992.  Its most valuable assets are Elektrim
Telekomunikacja Sp. z o.o., and Elektrownia Patnow- Adamow-Konin
S.A.  Since 1999 Elektrim has implemented a far-reaching
restructuring program to improve its operational efficiency and
strengthen its position in the market.  It plans to concentrate
in two industries -- telecommunications and power.  Recently, an
English court rejected its appeal of a local court decision
declaring it in breach of bond conditions.  A public court in
September ruled that its bonds were due since the beginning of
the year.  The company has more than EUR470 million in debt.

PTC owns Era, a leading mobile telephone operator.

CONTACT:  ELEKTRIM S.A.
          Panska 77/79
          00-834 Warszawa

          Public Relations
          Ewa Bojar
          Company Spokesman
          Phone: (+48 22) 432 89 55
          Fax:   (+48 22) 432 87 99
          E-mail: ewa_bojar@elektrim.pl

          Investor Relations
          Phone: (+48 22) 432 87 75
          Fax:   (+48 22) 432 87 99
          Web site: http://www.elektrim.pl


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


AEROFLOT: Awards RRJ Maker US$820 Million Contract
--------------------------------------------------
Troubled national carrier Aeroflot has ordered 30 new Russian
Regional Jets (RRJ) worth US$820 million from Sukhoi, Reuters
says.

The acquisition is part of Aeroflot's program, announced in
October, to modernize its fleet and includes the acquisition of
12 Airbus A320s and five Boeing 767s.  The company also plans to
buy foreign-made used aircraft to replace its aging Tu-134 planes
and, beginning 2008, 30 An-148 planes or RRJs to serve regional
routes.

Aeroflot Chief Executive Valery Okulov said in a statement, "We
are very glad that a Russian-made aircraft RRJ95 is becoming an
integral part of our plans to form a modern fleet."

Sukhoi will deliver the planes in 2008.  Sukhoi manufactures
Russia's flagship SU fighter and is one of the country's biggest
arms exporters.

Meanwhile, Alexander Lebedev, head of the National Reserve
Corporation (NRC), is seeking to annul the contract.  He said,
"Nobody could comprehensively explain how and according to which
rules Aeroflot held a tender which was won by the RRJ, which does
not even exist yet."  NRC, which controls around a third of
Aeroflot, is developing Antonov An-148, a Russo-Ukrainian jet.

Operating out of Moscow's Sheremetyevo Airport, Aeroflot controls
11% of domestic and 39% of international markets for air
carriage.  For the first quarter of the year, net loss doubled to
RUB875 million, despite a hike in revenues from RUB9.986 billion
to RUB11.085 billion.

CONTACT:  AEROFLOT - RUSSIAN AIRLINES JSC
          Leningradsky Prospect 37, Bldg. 9
          125167 Moscow, Russia
          Phone: +7-095-155-6643
          Fax: +7-095-155-6647
          Web site: http://www.aeroflot.ru


BUGULMINSKIY WOOD: Insolvency Manager Takes over Firm
-----------------------------------------------------
The Arbitration Court of Tatarstan republic has commenced
bankruptcy supervision procedure on open joint stock company
Bugulminskiy Wood Working Combine.  The case is docketed as
A65-9581/2005-sg4-26.  Ms. L. Khaydarova has been appointed
temporary insolvency manager.

CONTACT:  BUGULMINSKIY WOOD WORKING COMBINE
          423230, Russia, Tatarstan republic,
          Bugulma, Chaykovskogo Str. 25

          L. KHAYDAROVA
          Temporary Insolvency Manager
          423230, Russia, Tatarstan republic,
          Bugulma, Chaykovskogo Str. 25


ISKITIMSKIY BAKERY: Bankruptcy Hearing Set Next Month
-----------------------------------------------------
The Arbitration Court of Novosibirsk region has commenced
bankruptcy supervision procedure on open joint stock company
Iskitimskiy Bakery.  The case is docketed as A45-17531/05-10/291.
Mr. S. Zhukov has been appointed temporary insolvency manager.  A
hearing will take place on January 25, 2006, 9:30 a.m. at the
Arbitration Court of Novosibirsk region at 630007, Russia,
Novosibirsk, Kirova Str. 3, Room 915.

CONTACT:  ISKITIMSKIY BAKERY
          633210, Russia, Novosibirsk region,
          Iskitim, Yubileynyj Pr. 5a

          S. ZHUKOV
          Temporary Insolvency Manager
          630087, Russia, Novosibirsk region,
          Post User Box 116


MECHETLINSKIY DAIRY: Declared Insolvent
---------------------------------------
The Arbitration Court of Bashkortostan republic commenced
bankruptcy proceedings against Mechetlinskiy Dairy (TIN
0236001781) after finding the open joint stock company insolvent.
The case is docketed as A07-3737378/05-G-MOG.  Mr. O. Vlasenko
has been appointed insolvency manager.

CONTACT:  MECHETLINSKIY DAIRY
          Russia, Bashkortostan republic, Mechetlinskiy region,
          Bolsheustikinsk, Kurortnaya Str.

          O. VLASENKO
          Insolvency Manager
          450097, Russia, Bashkortostan republic,
          Ufa, Post User Box 191

          ARBITRATION COURT OF BASHKORTOSTAN REPUBLIC
          450057, Russia, Bashkortostan republic,
          Ufa, Oktyabrskoy Revolyutsii Str. 63 "a"


POTASHKINSKOYE: Bankruptcy Hearing Set January 12
-------------------------------------------------
The Arbitration Court of Sverdlovsk region has commenced
bankruptcy supervision procedure on close joint stock company
Potashkinskoye.  The case is docketed as A60-22450/05-S11.  Mr.
V. Ushakov has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to Russia,
Ekaterinburg, Post User box 308.  A hearing will take place on
January 12, 2006.

CONTACT:  POTASHKINSKOYE
          623357, Russia, Sverdlovsk region, Artinskiy region,
          Patashka, Yubileynaya Str. 1

          V. USHAKOV
          Temporary Insolvency Manager
          Russia, Ekaterinburg,
          Post User Box 308


SEL-KHOZ-KHIMIYA: Insolvency Manager Enters Firm
------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on agricultural enterprise
Sel-Khoz-Khimiya (TIN 0202004181).  The case is docketed as
A07-14979/05-MOG.  Mr. R. Sharifullin has been appointed
temporary insolvency manager.

CONTACT:  SEL-KHOZ-KHIMIYA
          452120, Russia, Bashkortostan republic,
          Alsheevskiy region, Raevskiy, Traktovaya Str. 71

          R. SHARIFULLIN
          Temporary Insolvency Manager
          452170, Russia, Bashkortostan republic,
          Chishmy, Post User Box 40

          ARBITRATION COURT OF BASHKORTOSTAN REPUBLIC
          450057, Russia, Bashkortostan republic,
          Ufa, Oktyabrskoy Revolyutsii Str. 63A


STARODUBSKIY METALLIST: Succumbs to Bankruptcy
----------------------------------------------
The Arbitration Court of Bryansk region has commenced bankruptcy
supervision procedure on open joint stock company Starodubskiy
Metallist.  The case is docketed as A09-9829/05-28.  Mr. S.
Vetrov has been appointed temporary insolvency manager.  A
hearing will take place on February 27, 2006, 11:00 a.m. at the
Arbitration Court of Bryansk region at Russia, Bryansk region,
Trudovoy Per. 6, Room 312.

CONTACT:  STARODUBSKIY METALLIST
          Russia, Bryansk region, Starodub,
          Krasnykh Partizan Str. 61

          S. VETROV
          Temporary Insolvency Manager
          394018, Russia, Voronezh,
          Kirova Str. 9, Office 30


SUNDYRSKOYE: Under Bankruptcy Supervision
-----------------------------------------
The Arbitration Court of Chuvashiya republic has commenced
bankruptcy supervision procedure on repair-technical enterprise
Sundyrskoye.  The case is docketed as A79-7962/2005.  Mr. V.
Sirotin has been appointed temporary insolvency manager.  A
hearing will take place on December 22, 2005, 1:45 p.m. at the
Arbitration Court of Chuvashiya republic.

CONTACT:  SUNDYRSKOYE
          Russia, Chuvashiya republic,
          Morgaushskiy region, B. Sundyr.

          V. SIROTIN
          Temporary Insolvency Manager
          Russia, Chuvashiya republic,
          Cheboksary, Tekstilshikov Str. 10-215


TAGANROGSKIY BREWERY: Succumbs to Bankruptcy
--------------------------------------------
The Arbitration Court of Rostov commenced bankruptcy proceedings
against Taganrogskiy Brewery (TIN 6154018658, KPP 615401001)
after finding the close joint stock company insolvent.  The case
is docketed as A53-9736/2002-S2-29.  Mr. V. Iosipchuk has been
appointed insolvency manager.  Creditors may submit their proofs
of claim to 347905, Russia, Rostov region, Taganrog, B. Sadovyj
Per. 13.

CONTACT:  TAGANROGSKIY BREWERY
          347905, Russia, Rostov region,
          Taganrog, B. Sadovyj Per. 13

          V. IOSIPCHUK
          Insolvency Manager
          347905, Russia, Rostov region,
          Taganrog, B. Sadovyj Per. 13


TARASOVSK-OIL: Bankruptcy Supervision Begins
--------------------------------------------
The Arbitration Court of Rostov region has commenced bankruptcy
supervision procedure on limited liability company Tarasovsk-Oil
(TIN 6133002858, KPP 613301001).  The case is docketed as
A530-248544/2005-S2-8.  Mr. A. Sologub has been appointed
temporary insolvency manager.  Creditors may submit their proofs
of claim to temporary insolvency manager at 344092, Russia,
Rostov-na-Donu, Volkova Str. 31/1, Apartment 20.

CONTACT:  TARASOVSK-OIL
          346082, Russia, Rostov region,
          Tarasovskiy region, Nizhniy Mityakin

          A. SOLOGUB
          Temporary Insolvency Manager
          344092, Russia, Rostov-na-Donu,
          Volkova Str. 31/1, Apartment 20


TRANS-SEA-FOOD: Primorye Court Appoints Insolvency Manager
----------------------------------------------------------
The Arbitration Court of Primorye region has commenced bankruptcy
supervision procedure on close joint stock company Trans-Sea-Food
(TIN 253900352167).  The case is docketed as A-51-5854/2005 9-90.
Mr. G. Grachev has been appointed temporary insolvency manager.
A hearing will take place on March 15, 2006.

CONTACT:  TRANS-SEA-FOOD
          Russia, Primorye region,
          Vladivostok, Pologaya Str. 63

          G. GRACHEV
          Temporary Insolvency Manager
          690024, Russia, Primorye region,
          Makovskogo Str. 179, Apartment 31


YUKOS OIL: CNOOC Leads Bidders for Non-core Assets
--------------------------------------------------
China's third largest oil firm, CNOOC Ltd., is interested in the
assets of Yukos Oil, which is disposing of properties to pay down
debt, reports say.

In an interview with Shanghai Securities News, CEO Fu Chengyu did
not identity which among Yukos' assets in Russia or abroad the
company is interested in.  Yukos plans to sell about US$10
billion worth of non-core assets, CEO Steven Theede announced
recently.  The company has US$7.5 billion in outstanding tax
liabilities and US$1.3 billion in debt to banks.  Mr. Theede said
reducing the debt will enable the company to gain enough
stability to operate as an independent entity.  The disposals
will leave Yukos with US$10 billion to US$13 billion of oil
exploration and refining assets.

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), but the case was dismissed in February.
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.  Yugansk eventually was bought by
state-owned Rosneft.  Rosneft is now claiming more than US$12
billion from Yukos in two court cases relating to the sale.

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


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


GORLIVKA AUTO 11401: Declared Insolvent
---------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Gorlivka Auto Transport Enterprise 11401
(code EDRPOU 03113839) on October 27, 2005 after finding the
limited liability company insolvent.  Mr. R. Rigovanov (License
Number AB 116098) has been appointed liquidator/insolvency
manager.  The company holds account number 26008800430000 at JSCB
Ukrsibbank, Donetsk branch, MFO 335827.

Creditors have until December 17, 2005 to submit their proofs of
claim to:

(a) GORLIVKA' AUTO TRANSPORT ENTERPRISE 11401
    84634, Ukraine, Donetsk region,
    Gorlivka, Internatsionalna Str. 80

(b) R. RIGOVANOV
    Liquidator/Insolvency Manager
    84626, Ukraine, Donetsk region,
    Gorlivka, Peremogi Avenue 38
    Phone: 8 (06242) 5-32-19

(c) ECONOMIC COURT OF DONETSK REGION
    83048, Ukraine, Donetsk, Artema Str. 157


MIHAJLIVSKE: Succumbs to Insolvency
-----------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Mihajlivske (code EDRPOU 30764218) on
November 3, 2005 after finding the limited liability company
insolvent.  The case is docketed as B 24/95/05.  Mr. Sergij
Zhukov (License Number AA 669630) has been appointed
liquidator/insolvency manager.  The company holds account number
26003032660100 at JSPPB Aval, Novomoskovsk branch, MFO 305653.

Creditors have until December 17, 2005 to submit their proofs of
claim to:

(a) MIHAJLIVSKE
    51240, Ukraine, Dnipropetrovsk region,
    Novomoskovsk district,
    Mihajlivka, Lenin Str. 1

(b) SERGIJ ZHUKOV,
    Liquidator/Insolvency Manager
    49055, Ukraine, Dnipropetrovsk region,
    Titov Str. 9, Office 16

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


PIVDENNA: Undergoes Bankruptcy Supervision Procedure
----------------------------------------------------
The Economic Court of Dnipropetrovsk region has commenced
bankruptcy supervision procedure on OJSC Bird Factory Pivdenna
(code EDRPOU 01529398).  The case is docketed as B 15/144/05.
Mr. Sergij Zhukov (License Number AA 669630) has been appointed
temporary insolvency manager.  The company holds account number
26009339055001 at CB Privatbank, Nikopol branch, MFO 3058910.

Creditors have until December 17, 2005 to submit their proofs of
claim to:

(a) PIVDENNA
    Ukraine, Dnipropetrovsk region,
    Nikopol district, Yuzhnoe

(b) SERGIJ ZHUKOV
    Temporary Insolvency Manager
    49055, Ukraine, Dnipropetrovsk region,
    Titov Str. 9, office 16

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


RAHIVHLIB: Creditors' Claims Due Next Week
------------------------------------------
The Economic Court of Zakarpatska region commenced bankruptcy
proceedings against Rahivhlib (code EDRPOU 00377970) on October
20, 2005 after finding the open joint stock company insolvent.
The case is docketed as 16/330.  Mr. Vitalij Bahtin (License
Number AA 419493) has been appointed liquidator/insolvency
manager.  The company holds account number 26002301265573 at JSCB
Prominvestbank, Rahiv] branch, MFO 312204.

Creditors have until December 17, 2005 to submit their proofs of
claim to:

(a) RAHIVHLIB
    Ukraine, Zakarpatska region,
    Rahiv, Tiha Str. 1

(b) VITALIJ BAHTIN
    Liquidator/Insolvency Manager
    Ukraine, Zakarpatska region,
    Uzhgorod, Hmelnitskij Square 2/233

(c) ECONOMIC COURT OF ZAKARPATSKA REGION
    88000, Ukraine, Zakarpatska region,
    Uzhgorod, Kotsubinski Str.2a


SATURN: Court Appoints Insolvency Manager
-----------------------------------------
The Economic Court of Zaporizhya region commenced bankruptcy
proceedings against Saturn (code EDRPOU 30907572) on August 8,
2005 after finding the limited liability company insolvent.  The
case is docketed as 21/125-21/217.  Mr. Baranov O. (License
Number Number AA 779148) has been appointed liquidator/insolvency
manager.

Creditors have until December 15, 2005 to submit their proofs of
claim to:

(a) SATURN
    70632, Ukraine, Zaporizhya region,
    Pologi district, Novofedorivka,
    Molodizhna Str. 34-A

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


UKRVTORCHERMET: Bankruptcy Supervision Starts
---------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
supervision procedure on Private Enterprise Ukrvtorchermet (code
EDRPOU 31840430) on February 21, 2005.  The case is docketed as
46/150-b.  Mr. Denisov Volodimir (License Number AB 116291) has
been appointed temporary insolvency manager.  The company holds
account number 26062001030208, 26006001030208 at OJSC JSCB
Avtozazbank, Donetsk branch, MFO 335764.

Creditors have until December 17, 2005 to submit their proofs of
claim to:

(a) UKRVTORCHERMET
    04123, Ukraine, Kyiv region,
    Svobodi Avenue 24-B

(b) DENISOV VOLODIMIR
    Temporary Insolvency Manager
    Phone: (044) 269-71-72

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


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


ACE LIMITED: Appoints Administrator from Abbey Taylor
-----------------------------------------------------
Tracey A. Taylor (IP No 008899) of Abbey Taylor Ltd. was
appointed administrator of Ace Limited (Company No 04295628) on
Nov. 25.  Its registered office is at Coulman Road Industrial
Estate, Thorne, Doncaster DN8 5JS.  The company imports and
wholesales soft toys.

CONTACT:  ABBEY TAYLOR LTD.
          The Blade Enterprise Centre
          John Street
          Sheffield
          South Yorkshire S2 4SU
          Phone: 0114 292 2402
          Fax: 0114 292 2403
          E-mail: tracy.taylor@abbeytaylor.co.uk


ANGLO AMERICAN: To Pay Creditors in Full
----------------------------------------
The Joint Scheme Administrators of Anglo American Insurance
Company Limited, Tony McMahon and John Wardrop, partners at KPMG
LLP (U.K.) Corporate Recovery Insurance Solutions, have increased
the Scheme Payment Percentage to Anglo's creditors from 90% to
100%.  In addition, they will pay in full Scheme interest where
applicable under the terms of Anglo's amending scheme.

A further US$75 million will be paid to creditors as a result of
this decision which, with the payments made to date, raise total
payments to creditors to US$275 million.

John Wardrop said: "We are extremely pleased to be in a position
to pay all creditors in full, particularly given the much lower
initial projected outcome at the outset of the original scheme.
Since being appointed, our strategy has been to realize Anglo's
assets as efficiently and effectively as possible, and distribute
the funds realized to creditors.

"Since our appointment in 1997, we have commuted all of Anglo's
major reinsurance contracts, negotiated the release of surplus
assets held under two significant trust funds established for the
benefit of certain of Anglo's creditors and realized value
through the sale of Anglo's subsidiary, Mercantile Indemnity
Company Limited.  In addition, we were keen to ensure that
creditors' claims continued to be agreed fairly and promptly
through our run-off agent, Claims Management Group Limited.

"This proactive approach allowed us to increase the payment
percentage to creditors on a regular basis as greater certainty
was gained as to Anglo's ultimate assets and liabilities.  The
cut-off mechanism in the current scheme allowed us to value the
remaining uncrystallized claims and make this final payment to
creditors.  The quantum of the final distribution, and the
relative speed by which it will be made, is therefore a direct
result of our strategy."

It is anticipated that the Scheme Administrators will be
distributing the scheme payments, together with scheme interest
where appropriate, to creditors by the end of January 2006.

                            *   *   *

Anglo began underwriting in 1987 as a member of the HS Weavers
underwriting agency until 1990 when it began underwriting on its
own.  It ceased underwriting and was placed in run-off in 1994.
Throughout this period, it wrote a mixture of insurance and
reinsurance business including general and product liability,
professional indemnity, medical malpractice and marine risks.

Schemes of arrangement are provided for by section 425 of the
Companies Act 1985 and set out the rules by which the ongoing
administration and management of a company are governed.  These
are binding upon the Company and all its creditors, provided that
a majority in number, representing three-fourths in value of the
creditors, agrees to the arrangement.  The Bar Date for
submitting claims into Anglo's Amending Scheme of Arrangement was
31 January 2005.

The Court sanctioned Anglo's Amending Scheme of Arrangement in
October 2004.  The Court previously sanctioned Anglo's Original
Scheme of Arrangement in April 2000.  Previously, Anglo had been
in provisional liquidation from 11 March 1997.

CONTACT:  KPMG LLP
          Rachael Morgan
          Corporate Communications
          Phone: 020 7694 2692


AUSTIN FRIARS: Calls in Liquidator
----------------------------------
Elision Investments Limited, shareholder of Austin Friars
Securities Limited, informs that the special, ordinary and
extraordinary resolutions to wind up company were passed.  Andrew
Conquest of Grant Thornton UK LLP, Grant Thornton House, Melton
Street, London NW1 2EP was appointed liquidator.

Creditors are required on or before January 15, 2006, to send in
their full forenames and surnames, addresses and descriptions,
full particulars of debt or claims and the names and addresses of
Solicitors (if any) to Andrew Conquest and if so required by
notice in writing their debt or claims.

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


BANBURY SHOPPING: Liquidators from Deloitte & Touche Enter Firm
---------------------------------------------------------------
Company Names: BANBURY SHOPPING CENTRE LIMITED
               HODGE HOUSE LIMITED
               LANDSWELL LIMITED
               RAGLAN (AMERSHAM) LIMITED
               RAGLAN PROPERTIES LIMITED
               RAGLAN PROPERTY HOLDINGS LIMITED
               RAGLAN PROPERTY INVESTMENTS LIMITED
               RAGLAN PROPERTY LIMITED
               RAGLAN PROPERTY MANAGEMENT
               SLOUGH LEASING LIMITED

A member of these companies informs that the ordinary and special
resolutions to wind up the firms were passed at a general meeting
and Nicholas Guy Edwards and Nicholas James Dargan of Deloitte &
Touche, Athene Place, 66 Shoe Lane, London EC4A 3BQ were
appointed joint liquidators.

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


CENTER PARCS: Half-year Profit Drops Slightly to GBP13.4 Million
----------------------------------------------------------------
Center Parcs (U.K.) Group plc has reported interim results for
the 24 weeks ended 6 October 2005.

Financial Overview

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Headline Results (GBPmillion)

                 24 weeks ended                   24 weeks ended
                 6 October 2005                   7 October 2004

Revenue                   113.5                            113.2

Trading profit* before
3D contribution            14.9                             14.2

Operating profit           14.2                             22.2

Profit before tax          12.6                             19.4

Profit after tax           13.4                             14.5

EPS (p)                    5.26                             5.68

DPS (p)                     1.2                              1.2

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
* Trading profit is defined as operating profit before costs
incurred on the fifth site, costs incurred on the full list and
profit on disposal of subsidiary undertaking.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Operating Results (excluding 3D and exceptional items)

                  24 weeks ended                  24 weeks ended
                  6 October 2005                  7 October 2004

Occupancy (%)               91.5                            91.5

Rent per villa night (GBP)144.86                          138.57

Spend per sleeper (GBP)    24.84                           24.14

Number of villas at
period end                 3,301                           3,271

Revenue (GBPmillion)       113.5                           107.3

*EBITDAR (GBPmillion)       44.2                            41.7

*EBITDAR margin (%)         38.9                            38.9

EBITDA (GBPmillion)         19.6                            17.9

Operating profit(GBPmillion)14.9                            14.2

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
* EBITDAR is defined as Earning before Interest, Tax,
Depreciation, Goodwill Amortization and Rent.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Highlights

(a) excluding the contribution from 3D, solid half year results
    with 5.7% turnover growth and 5.3% trading profit growth;

(b) typically strong peak summer period;

(c) margin sustained through tight cost control;

(d) upgrade program ongoing - increased premium accommodation;

(e) occupancy maintained at 91.5%;

(f) fifth site planning application progressing - local
    authority now expected to meet in March 2006 to determine
    the application; and

(g) interim dividend of 1.2 pence.

Martin Dalby, chief executive officer, said: "We are delighted to
announce a solid set of results, following a typically strong
summer season.  Our focus during the half has been on developing
further the four existing Villages through building of new
executive villas, upgrading villas and enhancing restaurant and
central facilities.  In addition, we continue to work through the
planning process for our fifth site at Warren Wood near Woburn.

"Overall, forward bookings are in line on a percentage basis with
the same time last year.  Furthermore, bookings for the peak
Christmas and New Year period are in line with management
expectations.  The Board remains cautiously optimistic for the
full year, and its expectations for 2005/06 remain unchanged."

A copy of the financial results is available free of charge at
http://bankrupt.com/misc/CenterParcs(H12005).pdf

                        About the Company

Based in the United Kingdom, Center Parcs operates short break
holiday villages in Sherwood Forest (Nottinghamshire), Longleat
Forest (Wiltshire), Elveden Forest (Suffolk) and Whinfell Forest
(Cumbria).  It has more than 5,000 employees, and an annual
turnover of GBP229.64 million.

In July, the company revealed underlying trading for the year was
robust, but was impacted by a number of specific factors
including a weaker than expected first quarter; Christmas
scheduling issues; and higher-than-expected energy cost
inflation.

Action has been taken to minimize these impacts in the future.
For example, energy costs have been locked in for the next 18
months and a new program is in place for peak period scheduling
and marketing.  For only the second time in its history, one of
the villages had to be closed following power losses caused by
exceptionally severe weather conditions.  However, risk
management procedures and power backup arrangements allowed it to
reopen the site within two days.

Work was also underway on two key aspects of funding for the
Group:

(a) GBP52.5 million loan notes: these have a fixed coupon of
    6.5% until January 2007 and an amortization payment schedule
    beginning in FY07 with a sum of GBP7.5 million.  The Board
    has been reviewing the refinancing options for this part
    of the funding structure; and

(b) funding for the 5th site: a range of funding models were
    under review.  The preferred funding route will be developed
    in due course to meet the likely timetable for the planning
    process and further updates will be provided as appropriate.

CONTACT:  CENTER PARCS (U.K.) GROUP PLC
          One Edison Rise
          New Ollerton
          Newark, Nottinghamshire
          NG22 9DP
          United Kingdom
          Phone: 0870 067 3000
          Fax: 0870 067 3099
          E-mail: shareholderservices@centerparcs.co.uk


CORUS GROUP: Rail Unit Has New Managing Director
------------------------------------------------
Corus Group plc has disclosed the appointment of Joe Guerin as
the new Managing Director of its rail businesses.  Mr. Guerin,
who was Director, Logistics for Corus Construction & Industrial
in Scunthorpe, will take up the appointment with effect from 1
December 2005 and will be based in York, U.K.  Corus Rail
manufactures approximately 500,000 tpa of rail and track products
in the U.K. and France and is Europe's leading rail producer.

Mr. Guerin has held a variety of senior technical, operational
and logistics jobs in Corus including running the Workington rail
mill.  In addition to his responsibilities, the last 12 months
has seen him as the integration coordinator for the GBP130
million investment project at Scunthorpe, which includes the
creation of a state of the art rail service center and world
class rail manufacturing facilities.

He said, "I am delighted to be coming back into a business that I
know; I have very fond memories of rail production and our
customers. I am looking forward to the challenge of the new job."

Corus is investing GBP130 million in its long product facilities
in Scunthorpe, which also includes the creation of a world-class
rail manufacturing facility that will produce longer rail up to
120 million in the U.K. for the first time and a new
state-of-the-art rail service center.  Rail will be produced at
Scunthorpe by the end of 2006.

                        About the Company

Corus Group plc is one of the world's largest metal producers
with a turnover of over GBP9 billion and major operating
facilities in the U.K., the Netherlands, Germany, France,
Norway, Belgium and Canada.

Corus' four divisions comprising Strip Products, Long Products,
Aluminium and Distribution & Building Systems provide innovative
solutions to the construction, automotive, rail, general
engineering and packaging markets worldwide.  Corus has over
48,000 employees in over 40 countries and sales offices and
service centers worldwide.

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

After posting a net loss of GBP458 million in 2003, it embarked
on a restructuring program, signed a new EUR1.2 billion banking
facility, and issued GBP307 million worth of shares.  It returned
to operating profit in the first quarter in 2004.  The recent
recovery of steel prices and the strength of the euro are
expected to help it achieve relatively strong earnings.

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


HIGHCRAFT SERVICES: Files for Liquidation
-----------------------------------------
P. Mainstone, director of Highcraft Services Ltd., informs that
resolutions to wind up the company were passed at an EGM held on
Nov. 10 at Gable House, 239 Regents Park Road, London N3 3LF.  H.
J. Sorsky of SPW Poppleton & Appleby, Gable House, 239 Regents
Park Road, London N3 3LF was appointed liquidator.

Highcraft Services -- http://www.highcraft.co.uk-- produces
ClubMINDER, a swipe card system for golf and leisure clubs.
ClubMINDER is used in over 200 golf clubs in the U.K.

CONTACT:  HIGHCRAFT SERVICES LTD.
          313 Regent Park Road
          Finchley, London N3 1DP
          Phone: 02083431119


INTERTEK GROUP: Strikes 'Exchange Deal' with DEKRA
--------------------------------------------------
Intertek Group plc has disclosed an agreement with DEKRA AG of a
simultaneous acquisition and disposal.

Intertek has acquired the remaining 51% of the shares not already
owned by Intertek in the Swedish company, DEKRA-SEMKO
Certification AB for EUR1.3 million (GBP0.9 million).  Intertek
has sold its 49% holding in the German company, DEKRA Intertek
Certification GmbH to DEKRA for EUR3.6 million (GBP2.4 million).

This deal ends the historical joint venture between Intertek and
DEKRA.  This enables Intertek and DEKRA to focus on growing the
system certification business (ISO 9000, ISO 14001, etc), using
the strengths and resources of their respective companies.
Intertek will align the system certification business with the
product certification business within the Intertek ETL SEMKO
division where all of Intertek's system certification will be
consolidated from 2006.  Both organizations will continue to
cooperate and support each other's activities.

                        About the Group

Intertek is an international testing, inspection and
certification organization, which assesses customers' products
and commodities against a wide range of safety, regulatory,
quality and performance standards and certifies the management
systems of customers.  Intertek has 294 laboratories and over
13,500 people around the world and is increasingly undertaking
outsourced testing work for its customers.

At the end of 2004, Intertek's shareholders' funds remained
negative at GBP3.6 million, but down from -GBP43.1 million at 31
December 2003.  The deficit stems principally from the write-off
of goodwill in 1996 when the Group was purchased from its former
owners.  This amounted to GBP229.9 million at 31 December 2004.
The Group's net debt at 31 December 2004 was GBP112.4 million
compared to GBP132.2 million.

CONTACT:  INTERTEK GROUP PLC
          25 Savile Row
          London
          W1S 2ES, United Kingdom
          Phone: +44-20-7396-3400
          Fax: +44-20-7396-3480
          Web site: http://www.intertek.com

          DEKRA AG
          Handwerkstrasse 15
          D-70565 Stuttgart
          Phone: (07 11) 78 61-0
          Fax: (07 11) 78 61-2913
          E-mail: info@dekra.com


KRS ROOFING: Names Begbies Traynor Liquidator
---------------------------------------------
B. Kilpatrick, chairman of KRS Roofing Design Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Nov. 3 at Begbies Traynor, 1 Winckley Court, Chapel
Street, Preston, Lancashire PR1 8BU.  David R. Acland of Begbies
Traynor, 1 Winckley Court, Chapel Street, Preston, Lancashire PR1
8BU was appointed liquidator.

CONTACT:  KRS ROOFING DESIGN LTD.
          Unit 4, Bellair, Liverpool
          Merseyside L23 0UB
          Phone: 01519241082

          BEGBIES TRAYNOR
          1 Winckley Court
          Chapel Street
          Preston PR1 8BU
          Phone: 01772 202000
          Fax: 01772 200099
          E-mail: preston@begbies-traynor.com
          Web site: http://www.begbies.com


LAB (LONDON): Bar Operator Appoints Administrator
-------------------------------------------------
David Rubin and Paul Appleton (IP Nos 2591, 8883) of David Rubin
& Partners were appointed administrators of Lab (London) Limited
(Company No 03859937) on Nov. 16.

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


LINROY & SON: Goes into Liquidation
-----------------------------------
R. H. Slater, director of Linroy & Son (Scaffolding Services)
Limited, informs that resolutions to wind up the company were
passed at an EGM held on Nov. 11 at Irwin & Company, Station
House, Midland Drive, Sutton Coldfield, West Midlands B72 1TU.

Gerald Irwin of Irwin & Company, Station House, Midland Drive,
Sutton Coldfield, West Midlands B72 1TU was appointed liquidator.

CONTACT:  LINROY & SON (SCAFFOLDING SERVICES) LIMITED
          Trent Valley, Station Road
          Rugeley, Staffordshire WS15 3HA
          Phone: 01889582349

          IRWIN & COMPANY
          Station House
          Midland Drive
          Sutton Coldfield
          Birmingham
          West Midlands B72 1TU
          Phone: 08700 111812
          Fax: 08700 111813
          E-mail: mail@irwinuk.net


MMM GROUP: Publishing Firm Liquidates
-------------------------------------
J. Blackburn, director of MMM Group Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Nov. 9 at Hodgsons, George House, 48 George Street, Manchester M1
4HF.  Lawrence Ian Freedman of Hodgsons, George House, 48 George
Street, Manchester M1 4HF was appointed liquidator.

CONTACT:  MMM GROUP LTD.
          Bridge House, Bridgeman Pl.,
          Bolton BL2 1DF, United Kingdom
          Phone: 44 1204 387410
          Fax: 44 1204 380952
          Web site: http://www.mmm.co.uk

          HODGSONS
          George House
          48 George Street
          Manchester
          Greater Manchester M1 4HF
          Phone: 0161 228 7444
          Fax: 0161 228 735


MOLCO HAULAGE: Appoints Liquidator from Begbies Traynor
-------------------------------------------------------
Molco Haulage Limited informs that a resolution to wind up the
company was passed at an EGM held on Nov. 11 at The Old Exchange,
234 Southchurch Road, Southend-on-Sea, Essex SS1 2EG.  Lloyd
Biscoe of Begbies Traynor, The Old Exchange, 234 Southchurch
Road, Southend-on-Sea, Essex SS1 2EG was appointed liquidator.

CONTACT:  MOLCO HAULAGE LTD.
          Northumberland Road
          Linford, Stanford-Le-Hope
          Essex SS17 0PT
          Phone: 01375640670

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


MOWLEM PLC: Bows to Carillion's GBP290 Million Takeover Offer
-------------------------------------------------------------
Mowlem Plc's Board of Directors has accepted and recommended the
takeover offer of rival Carillion Plc, The Evening Standard says.

Carillion offered to acquire Mowlem for 205p per share or GBP290
million.  The offer is lower than the 225p shareholders had been
hoping for, but higher than its 173p trading price a month ago.

Mowlem's Board confirmed early last month it has received a
preliminary approach, but did not name the buyer.  The group has
been plagued by profit warnings, write-offs, disputes over late
or unfinished projects and claims of reckless accounting.

About Mowlem

Headquartered in Middlesex, Mowlem Plc -- http://www.mowlem.com
-- support services to public and private sector customers across
a comprehensive range of market sectors.  It has more than 25,000
employees and annual turnover of GBP2 billion.  It has GBP228.4
million in assets and GBP18.9 million in debt.  Its creditors are
HSBC Bank, National Westminster Bank, and Lloyds
TSB Bank.

Mowlem registered losses of GBP7.4 million (retained loss of
GBP19.6 million) in 2004, compared to earnings of GBP49.8 million
a year earlier.  Its profitability was severely affected by a
number of contract valuation write-downs and one-off charges.  In
September, it reported loss before tax of GBP73.4 million (2004:
GBP6.8 million profit).

About Carillion

Formerly known as Tarmac, Carillion has been a major player in
the construction and services industries.  The company
specializes in private finance initiative (PFI) projects and
operates in commercial constructions.

CONTACT:  MOWLEM PLC
          White Lion Court, Swan Street
          Isleworth
          Middlesex TW7 6RN
          Phone: 020 8568 9111
          Fax: 020 8847 4802
          Web site: http://www.mowlem.com


MOWLEM PLC: Fitch Affirms BB Senior Unsecured Rating
----------------------------------------------------
Fitch Ratings has affirmed U.K.-based Mowlem plc's Senior
Unsecured 'BB' with Negative Outlook and Short-term 'B' ratings.
This rating action follows the announcement by Mowlem that its
Board of Directors have accepted and recommended an offer from
Carillion plc for the entire issued share capital of the company.

The offer values Mowlem's equity at approximately GBP291 million
plus assumed net debt of GBP76 million.  This transaction will be
financed 40% by cash (GBP116 million) and 60% (GBP175 million) by
new Carillion shares.  On completion of the transaction, Mowlem
would become a wholly owned subsidiary of Carillion, with
Mowlem's shareholders owning around 20% of the enlarged group.

Based on 2004 figures, the combined business would have pro-forma
annual turnover of about GBP4.1 billion and an EBIT margin of
about 1%.  While Fitch recognizes that the takeover may have a
positive impact on Mowlem's credit profile through increased
scale, it is unlikely to translate into an improved financial
performance in the near future.  The agency also notes that there
is limited scope for cost savings, with Carillion expecting to
generate only GBP15 million of synergies per year by 2007.

Based on average net debt of approximately GBP200 million
expected for 2006, and pro-forma 2004 EBITDA of around GBP75
million, this indicates leverage of about 2.7x, which would be
high for the current rating in this sector, where financing needs
are generally low, albeit on a rising trend.  While Fitch notes
favorably Carillion's statements that it will seek to
substantially reduce net debt, in part by way of a disposal
program in the enlarged group over the next two years, this
process is subject to delay and its success dependent on market
conditions.

Furthermore, given Mowlem's recent checkered financial history,
forecast results remain exposed to underperformance and to
contract specific losses.  In this context Fitch notes
Carillion's plan to take a GBP120 million charge on Mowlem's
balance sheet in relation to the carrying values of goodwill and
deferred tax of GBP75 million and write-downs on existing
contracts of GBP45 million.  These come after already significant
charges taken by Mowlem's existing management.

Carillion is a medium-sized U.K. construction and support
services group with 2004 revenues of GBP2.0 billion.  The Mowlem
purchase is a major transaction for the company as it is of
roughly equal size.  This gives rise to substantial integration
risks, although these are expected to be reduced given the
amicable nature of the transaction and the possibility of
Mowlem's Chief Executive joining the Carillion board.

Fitch will monitor developments, and upon financial close of the
offer will review the credit profile of the enlarged group and
its outlook and likely affirm the ratings.  The offer is subject
to usual conditions including shareholder approval and regulatory
clearance.

Mowlem's ratings continue to be supported by its established
market position as a medium-sized construction and support
services group in the U.K.

CONTACT:  MOWLEM PLC
          White Lion Court, Swan Street
          Isleworth
          Middlesex TW7 6RN
          Phone: 020 8568 9111
          Fax: 020 8847 4802
          Web site: http://www.mowlem.com

          FITCH RATINGS
          Alex Herbert, London
          Phone: +44 (0) 20 7417 6334
          Monica Insoll
          Phone: +44 (0) 20 7417 4281

          Media Relations
          Alex Clelland, London
          Phone: +44 20 7862 4084
          Web site: http://www.fitchratings.com


NTL INC.: S&P Reviews Rating Following Approach on Virgin Mobile
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings for NTL
Inc., including the 'B+' corporate credit rating, on CreditWatch
with developing implications, following the company's
announcement of its cash and equity bid for Virgin Mobile PLC.

The developing CreditWatch implications indicate that ratings can
be raised, lowered, or affirmed following Standard & Poor's
review of the transaction.

"Potential for a negative action exists considering the
cumulative risks that NTL would have to manage in integrating a
business with a different customer base, product, and culture, as
well as in developing a compelling quadruple-play offering," said
Standard & Poor's credit analyst Simon Redmond.  "In addition,
the company has shown an appetite for a potential further
increase in debt.  Conversely, the developing CreditWatch
implications also recognize the potential upside for the NTL
rating, as Virgin is a strong consumer brand, the combined entity
may be better positioned over the longer term, and Virgin Mobile
is presently a cash-generative, dividend-paying business."

The ratings on U.K.-based telephony, cable TV, and Internet
service provider NTL are constrained by the company's:

     * competitive operating environment,
     * weak financial performance, and
     * significant gross leverage.

NTL benefits, however, from a high-bandwidth two-way network, an
established residential customer base, and ongoing operational
improvements.

NTL's offer for Virgin Mobile follows its announced acquisition
of Telewest Communications Networks Ltd. (BB-/Watch Neg/--) and
shows a willingness to invest in a long-term strategy.  The
combination of NTL and Virgin Mobile would seek to offer bundled
services, adding mobile communications to the current cable
triple play of fixed calls, broadband Internet, and TV.  The
combined company is negotiating to use the Virgin brand name.
Total debt at NTL of GBP2.3 billion at Sept.30, 2005, could
increase to about GBP6.3 billion pro forma for the Telewest
acquisition and potential Virgin Mobile transaction.

Virgin Mobile operates under a reselling agreement with T-Mobile
Ltd., the U.K. operation of Deutsche Telekom (A-/Stable/A-2).  It
has grown strongly since its launch in November 1999 with an
attractive prepaid offering.  It is currently using contracts in
an attempt to increase its revenue market share of about 3%
toward its customer share of 7%.  The combination would add 4.2
million users to NTL's 6.3 million revenue-generating units.  The
customer overlap and implications for margins and cash generation
will form part of the review.

Standard & Poor's will consider the implications for the
announcement, particularly with respect to a combined company's
business risk and deleveraging profile.  From a business
perspective, potential benefits will be set against internal and
external challenges.  If the combined entity were to assimilate
Virgin Mobile's strengths, such as growth, positive brand
perception, and good customer service, this could address some of
NTL's weaknesses, including exposure to fixed-to-mobile
substitution.  If not, the net effect could be negative.  If the
Virgin Group, as a 72% owner of Virgin Mobile, elects to accept
equity consideration, the change in credit metrics is currently
expected to be small after NTL's re-leveraging for Telewest.

Following S&P's review, the ratings on NTL are likely to be
affirmed, with a low probability of an upgrade.  A downgrade is
also seen as unlikely, unless a significant part of the
consideration is paid in cash.

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


PRECISION SAWING: PKF to Liquidate Business
-------------------------------------------
Resolutions to wind up Precision Sawing Services 2002 Ltd. were
passed at an EGM held on Oct. 31 at Unit 16, Union Road
Industrial Estate, Union Road, Oldbury, West Midlands B69 3EX.

Ian J. Gould and Edward T. Kerr of PKF (UK) LLP, New Guild House,
45 Great Charles Street, Queensway, Birmingham B3 2LX were
appointed Joint Liquidators.

CONTACT:  PRECISION SAWING SERVICES 2002 LTD.
          Unit 16 Union Road
          Oldbury
          B69 3EX
          West Midlands
          Phone: 0121 544 9233
          Fax: 0121 544 8846
          Web site: http://www.precisionsawing.com
          Contact:
          Ian Corbett, Managing Director

          PKF
          New Guild House
          45 Great Charles Street
          Queensway
          Birmingham
          West Midlands B3 2LX
          Phone: 0121 212 2222
          Fax: 0121 212 2300
          E-mail: ian.gould@uk.pkf.com


PREMIER STRUCTURAL: Calls in Liquidator from Albert Goodman
-----------------------------------------------------------
A. R. Bown, chairman of Premier Structural Services Limited,
informs that the special resolution to wind up the company was
passed at an EGM held on Nov. 18 at 77A Cheap Street, Sherborne,
Dorset DT9 3BA.  Laurence Russell of Albert Goodman, Mary Street
House, Mary Street, Taunton, Somerset TA1 3NW was appointed
liquidator.

CONTACT:  ALBERT GOODMAN
          Mary Street House
          Mary Street
          Taunton
          Somerset TA1 3NW
          Phone: 01823 286096
          Fax: 01823 257319


REGAL PETROLEUM: Ukraine's High Court Junks CNGG's Latest Appeal
----------------------------------------------------------------
The Directors of Regal Petroleum plc have revealed that the
Supreme Commercial Court of Ukraine has ruled in favor of Regal
and dismissed the latest appeal brought by
Chernihivnaftogasgeologia (CNGG), thus upholding the earlier
decisions of the Poltava Court and the Kiev Court of Appeal with
respect to the distribution of assets within their former
joint-venture.

In June 2004, the exploration/pilot production licenses in which
Regal had a 75% interest expired.  Subsequently, Regal was
awarded a 100% interest in two 20-year production licenses.
Contemporaneously with the expiration of the exploration/pilot
production licenses, the joint-venture arrangement Regal had with
CNGG also expired.

In the course of the dissolution of the joint venture, an action
was brought before the local Poltava Court in order to distribute
the assets of the joint venture to the partners.  In August 2005
the Poltava Court ruled that the physical assets of the joint
venture be distributed to Regal and that CNGG be compensated for
the value of its 25 per cent interest in the joint venture.

CNGG lodged an appeal with the Kiev Court of Appeal contesting
the Poltava Court ruling, which appeal was dismissed in October
2005.

CNGG then lodged a further appeal to the Supreme Commercial Court
of Ukraine.  The hearing of this appeal was held Wednesday, when
the Supreme Commercial Court dismissed this appeal, thereby again
ruling in Regal's favor.

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


REPUBLIC NEW YORK: Names Deloitte & Touche Liquidator
-----------------------------------------------------
Members of Republic New York Holdings (UK), informs that the
special and ordinary resolutions to wind up the company were
passed and J. R. D. Smith and N. J. Dargan of Deloitte & Touche,
66 Shoe Lane, London EC4A 3WA were appointed joint liquidators.

Creditors are required on or before December 30, 2005, to send in
their full forenames and surnames, addresses and descriptions,
full particulars of debt or claims and the names and addresses of
Solicitors (if any) and if so required by notice in writing their
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


R. GREENE: Liquidators from Carter Backer Winter Enter Firm
-----------------------------------------------------------
B. Greene, chairman of R. Greene (Footwear) Limited, informs that
the special resolution to wind up the company was passed at an
EGM held on Nov. 24 at Enterprise House, 21 Buckle Street, London
E1 8NN.  Melvyn Julian Carter and John Alfred George Alexander
were appointed joint liquidators.

Creditors are required on or before January 10, 2006, to send in
their full forenames and surnames, addresses and descriptions,
full particulars of debt or claims and the names and addresses of
Solicitors (if any) and if so required by notice in writing their
debt or claims.

CONTACT:  CARTER BACKER WINTER
          Enterprise House, 21 Buckle Street,
          London E1 8NN
          Phone: + 44 (0) 20 7309 3800
          Fax:   + 44 (0) 20 7309 3801
          E-mail: info@cbw.co.uk
          Web site: http://www.cbw.co.uk


ROBINSON STEEL: Calls in Administrators from Kroll Limited
----------------------------------------------------------
Simon Wilson and David John Whitehouse (IP Nos 8963 ICAEW, 8699
IPA) of Kroll Limited were appointed administrators of Robinson
Steel Building Refurbishment Limited (Company No 04533362) on
Nov. 25.  Its registered office is at First Avenue, Weston Road,
Crewe, Cheshire SW1 6BG.

CONTACT:  KROLL LIMITED
          The Observatory
          Chapels Walk
          Manchester
          Greater Manchester M2 1HL
          Phone: 0161 838 4500
          Fax: 0161 838 4501


SEVERN TRENT: Facing Criminal Investigation in Belgium
------------------------------------------------------
Authorities in Antwerp are investigating Severn Trent's Biffa
waste management operation.  It may face a fine of GBP4 million
if found to have violated environment laws, according to The
Guardian.

The probe is the second criminal investigation launched against
the firm after the Serious Fraud Office looked into alleged
reporting irregularities at its U.K. water business.  The
business is claimed to have overcharged customers between 2000
and 2003.

Philip Fletcher, director general of industry regulator OFWAT,
requested the investigation after meeting David Donnelly, an
income and debt manager in Severn Trent's finance department.
Mr. Donnelly first alerted the company of the discrepancies 18
months ago, but was ignored.  He finally brought the information
to the attention of OFWAT, which promptly acted on it in May.

Mr. Donnelly discovered discrepancies in the leakage data
provided by the company to OFWAT, which contributed to the
latter's decision to allow Severn to raise water charges by 4.5%
a year above the inflation rate over a five-year period.  He
claims the company covered up a GBP75 million discrepancy in its
accounts and overcharged customers by GBP50 million.

Severn Trent Water is a member of the Severn Trent Group of
companies.  It claims to be the world's fourth largest privately
owned water company serving over 8 million customers across the
U.K., stretching from the Bristol Channel to the Humber, and from
mid-Wales to the East Midlands.  According to information posted
on its Web site, it provides a broad range of water and
environmental services, from taking care of water quality
standards to protecting on-site water and wastewater assets.

Biffa had first-half profit before interest and tax of GBP43.5
million.

CONTACT:  SEVERN TRENT WATER
          Web site: http://www.stwater.co.uk/

          SERIOUS FRAUD OFFICE
          Elm House
          10-16 Elm Street
          London
          WC1X 0BJ
          Tel: 020 7239 7272
          Fax: 020 7837 1689

          Public Enquiries
          Tel: 020 7239 7000/7190
          Fax: 020 7837 1173
          E-mail: public.enquiries@sfo.gsi.gov.uk

          OFFICE OF WATER SERVICES (OFWAT)
          Centre City Tower
          7 Hill Street
          Birmingham B5 4UA
          United Kingdom
          Tel: +44 (0) 121 625 1300 / 1373
          Fax: +44 (0) 121 625 1400
          E-mail: enquiries@ofwat.gsi.gov.uk
          Web site: http://www.ofwat.gov.uk/


SILK FLOWER: Calls in Administrator
-----------------------------------
Peter O'Hara (IP No 6371) of O'Hara & Co. was appointed
administrator of Silk Flower Kingdom Limited (Company No
05211236) on Nov. 28.  Its registered office is at 140-148
Manningham Lane, Bradford BD8 7LJ.  The company wholesales
flowers.

CONTACT:  O'HARA & CO.
          Wesley House
          Huddersfield Road
          Birstall
          Batley
          West Yorkshire WF17 9EJ
          Phone: 01924 477449
          Fax: 01924 475262
          E-mail: insol@ohara.co.uk


TOPCRAFT PROPERTY: In Liquidation
---------------------------------
J. Auguste, chairman of Topcraft Property Maintenance Limited,
informs that a resolution to wind up the company was passed at an
EGM held on Nov. 9 at Shepperton Moathouse Hotel, Felix Lane,
Shepperton, Middlesex TW17 8NP.

Mark Stephen Goldstein of Mark Goldstein Associates, Kingswood
Court, 1 Hemlock Close, Kingswood, Surrey KT20 6QW was appointed
liquidator.  The appointment was confirmed at a creditors meeting
held the same day.

Topcraft -- http://www.topcraftpropmaint.co.uk/-- provides
one-stop solution for home maintenance and building projects.  It
serves Surrey and London borders from offices in
Walton-On-Thames.  It has more than 25 years of experience in the
craft.

CONTACT:  TOPCRAFT PROPERTY MAINTENANCE LTD.
          81b Terrace Road
          Walton-on-Thames
          Surrey KT12 2SQ
          Phone: 01932 231673
          Fax: 01932 254698
          E-mail: email@topcraftpropmaint.co.uk


TRACOAIR LIMITED: Grant Thornton Administrators Move in
-------------------------------------------------------
Leslie Ross and Keith Hinds (IP Nos 7244, 6745) of Grant Thornton
UK LLP were appointed administrators of Tracoair Limited (Company
No 04244640) on Nov. 28.

CONTACT:  GRANT THORNTON
          Heron House, Albert Square
          MANCHESTER M60 8GT
          Phone: 0161 834 5414
          Fax: 0161 832 6042
          Web site: http://www.grant-thornton.co.uk


TUNNEL TYRES: Calls in Liquidator
---------------------------------
S. E. Titley, director of Tunnel Tyres (2004) Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Nov. 11 at 2nd Floor, 19 Castle Street, Liverpool L2 4SX.
Gerard Keith Rooney of Rooney Associates, 2nd Floor, 19 Castle
Street, Liverpool L2 4SX was appointed liquidator.

CONTACT:  TUNNEL TYRES (2004) LIMITED
          Freeman Street, Birkenhead
          Merseyside CH41 1BR
          Phone: 01516476063

          ROONEY ASSOCIATES
          3rd Floor
          Britannia Buildings
          46 Fenwick Street
          Liverpool
          merseyside
          E-mail: info@rooney.co.uk
          Phone: 0151 236 9999
          Fax: 0151 236 9777


TURBAN FOODS: EGM Passes Winding-up Resolution
----------------------------------------------
JLI Group Limited informs that a resolution to wind up Turban
Foods Limited was passed at an EGM held on Nov. 10 at 25
Moorgate, London EC2R 6AY.  Stephen Robert Cork and Joanne Milner
of Smith & Williamson Limited, Prospect House, 2 Athenaeum Road,
London N20 9YU were appointed Joint Liquidators.  The appointment
was confirmed at a creditors meeting held the same day.

CONTACT:  SUNDORA FOODS LTD.
          (Incorporating Turban Foods Ltd.)
          Burnby Lane, Pocklington, York YO42 2QB
          Phone: 01759 302365
          Fax: 01759 304707
          E-mail: info@sundora.co.uk
          Web site: http://www.sundora.co.uk
          Contact:
          Martin Sawyer, Managing Director

          SMITH & WILLIAMSON
          Prospect House
          2 Athenaeum Road
          London N20 9YU
          Phone: 020 8492 8600
          Fax: 020 8492 8601
          E-mail: jem1@smith.williamson.co.uk


W P MORTGAGE: Files for Liquidation
-----------------------------------
N. Phillips, chairman of W P Mortgage Services Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Nov. 9 at Butcher Woods, 79 Caroline Street, Birmingham
B3 1UP.  Roderick Graham Butcher of Butcher Woods, 79 Caroline
Street, Birmingham B3 1UP was appointed liquidator.  The
appointment was confirmed at a creditors meeting held the same
day.

CONTACT:  W P MORTGAGE SERVICES LIMITED
          Henwood Court, 20 Henwood Road
          Wolverhampton, West Midlands WV6 8WX
          Phone: 08707 519 219
                 01902 800838

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


                            *********


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

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

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

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

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


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