TCREUR_Public/051229.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

          Thursday, December 29, 2005, Vol. 6, No. 258

                            Headlines

C Y P R U S

CYPRUS AIRWAYS: Ultimatum to Employees Extended to Friday


F R A N C E

RHODIA S.A.: Sanofi-Aventis' Stake Down to 8.17%


G E R M A N Y

AUTOHAUS BORDE: Magdeburg Firm Goes Bust
BAUUNTERNEHMEN HECHT: Creditors' Claims Due Next Week
BOCHING HEIZUNGS: Under Bankruptcy Administration
DAIMLERCHRYSLER AG: Earns EUR1.6 Bln for MTU, DDC Unit
DOLD A LA CARTE: Court to Verify Claims April

GERMAN LOGISTIK: Leipzig Court Appoints Administrator
KARSTADTQUELLE AG: Beats Christmas Sale Forecast
KOMMANDITGESELLSCHAFT POSSEHL: Creditors Meeting Set March
MARGARETE MEYER: Cloppenburg Court to Verify Claims March
METALLIUM GMBH: Proofs of Claim Due January

PRASENT AUTO: Gera Court Calls in Administrator
QUALICEPT RECHNERGESTUETZTE: Falls into Bankruptcy
S&K BAU: Potsdam Business Goes under
TECHNALINE BUEROSITZMOBEL: Claims Filing Period Ends March 6
TOMAS TROCKENBAU: Court to Verify Claims May


H U N G A R Y

MALEV HUNGARIAN: Implements Redundancy Plan Early
PANNONPLAST RT: Partner Pays EUR6.7 Mln for Control of Polifoam


I T A L Y

TISCALI S.P.A.: Delists from Euronext Paris
TISCALI S.P.A.: Rules out Czech Branch Disposal


R U S S I A

ATKARSK-AGRO-PROM-TRANS: Bankruptcy Hearing Set March 16
CRYOGENIC ENGINEERING: Under Bankruptcy Supervision
INTERFIN TRADE: S&P Affirms Junk Ratings
OAO AEROFLOT: To Beef up Fleet with Boeing 787s
SHEKINSKAYA: Poultry Farm Succumbs to Bankruptcy

SKHODNYA-FURNITURE: Insolvency Manager Takes over Firm
SOSNINSKIY: Omsk Court Appoints Insolvency Manager
SPINNING-SEWING: Claims Filing Period Ends January 8
STROY-CONSTRUCTION: Names G. Kharitonov Insolvency Manager
TAMBOV-POLYMER-MASH: Bankruptcy Hearing Resumes January
TRUST TVER-STROY: Tver Court Opens Bankruptcy Proceedings
ZARECHNAYA+: Declared Insolvent


T U R K E Y

DOGUS HOLDING: Long-term Rating Improves to BB-; Outlook Stable


U K R A I N E

AVTOSHTAMP: Bankruptcy Supervision Starts
ILLINETSKIJ TIN: Last Day for Filing Claims Tomorrow
MANVIT: Insolvency Manager Takes over Operations
PLEMZAVOD KVITNEVE: Falls into Insolvency
SHAHTOBUDIVELNIK: Creditors' Claims Due this Week
SVITOCH CONFECTIONERY: Succumbs to Bankruptcy
UKRGAZGRUP: Kyiv Court Opens Bankruptcy Proceedings


U N I T E D   K I N G D O M

BALMY MOODS: Appoints BDO Stoy Hayward Liquidator
BOSWELL HOTELS: Claims Filing Period Ends Friday
CANADIAN CHEESE: Gives Creditors Until January 6 to File Claims
CHANDOS HOLDINGS: Calls in Liquidator from Harrisons
DESIGN & DEVELOPMENT: Files for Liquidation

DMI (LOWESTOFT): Hires Liquidators from KPMG
DOUGLAS OF SCOTLAND: Files for Liquidation
EASY SERVICES: Succumbs to Liquidation
E RUBINSTEIN: Appoints Begbies Traynor Liquidator
EXPRESS EXHIBITIONS: Names Langley & Partners Liquidator

GLOBUS OFFICE: Appoints PricewaterhouseCoopers Liquidator
LEOJAY HOLDINGS: Liquidator from Harrisons Enters Firm
LOCKWOOD & CARLISLE: KPMG Liquidators Take over Helm
PLANTATION STUD: Claims Filing Period Ends January 9
SNYDER FINANCE: Liquidators from Vantis Numerica Enter Firm
SPIELOTHEK (U.K.): Files for Liquidation
THOMAS STODDART: Folds up after 100 Years in Business


                            *********


===========
C Y P R U S
===========


CYPRUS AIRWAYS: Ultimatum to Employees Extended to Friday
---------------------------------------------------------
Troubled national carrier Cyprus Airways (CAIR) gave unions
until Friday this week to say yes or no to the restructuring
plan, The Financial Mirror says.

Communications Minister Haris Thrasou initially set the deadline
on Dec. 23, but extended it to give unions time to gather their
members.  PASIPY and ASSYSEKA, the unions of pilots and
engineers respectively, had said it was impossible to assemble
members on such short notice.  Mr. Thrasou said unions could use
the holiday breaks to get their members' opinion on the plan.

"After we get all the responses, then we shall inform the
Commission," Mr. Thrasou said, referring to the European
Commission.

CAIR needs union endorsement to get the Commission's nod on the
plan and a needed CYP58 million government-guaranteed loan to
repay CYP30 million in maturing debt, cover CYP10 million in
redundancy cost and finance the restructuring.

Most unions have yet to reveal their stand.  The cabin crew's
SYPKA is the most critical of plan, accusing management of
granting other groups concessions at its expense.  Accordingly,
22 of its senior stewards will be axed under the plan.

The airline, which employs 1,800, hopes to save CYP21.8 million
annually from 500 voluntary redundancies.  Only around 200 have
signed up so far, a number considered insufficient by the
airline.  The carrier has warned it would revert to the original
plan to dismiss 385 employees; slash the salaries and benefits
of those retained; and get rid of 22 chief steward positions.

CONTACT:  CYPRUS AIRWAYS LIMITED
          21 Alkeou Str.
          2404 Engomi
          P.O. Box 21903
          1514 Nicosia, Nicosia
          Phone: 22663054
          Fax: 22663167
          E-mail: webcentre@cyprusair.com.cy
          Web site: http://www.cyprusairways.com


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


RHODIA S.A.: Sanofi-Aventis' Stake Down to 8.17%
------------------------------------------------
Sanofi-Aventis' shareholding in Rhodia S.A. has been reduced to
8.17% after it passed up in the recent rights issue, Dow Jones
says.

Rhodia launched a EUR604 million rights issue earlier this month
to reduce debt and fund development projects.  But Sanofi, which
controls 15% of Rhodia, opted not to participate.  A Sanofi
spokesman has said the company does not consider its stake a
strategic holding.

The rights issue was fully underwritten by a banking syndicate
led by BNP Paribas and Credit Suisse First Boston.  CALYON and
HSBC served as co-lead managers.  About EUR400 million of the
proceeds will be used to pay debt, while EUR150 million will go
to industrial projects, Rhodia CEO Jean-Pierre Clamadieu said.

Aside from its goal to post a positive net result by 2006,
Rhodia also wants to achieve an EBITDA margin from continuing
operations of over 15% in two to three years.

CONTACT:  RHODIA S.A.
          26, quai Alphonse Le Gallo
          92512 Boulogne-Billancourt Cedex, France
          Phone: +33-1-55-38-40-00
          Fax: +33-1-55-38-44-71
          Web site: http://www.rhodia.com

          Press Relations
          Lucia Dumas
          Phone: +33 1 55 38 45 48
          Anne-Laurence de Villepin
          Phone: +33 1 55 38 40 25

          BNP PARIBAS
          16, boulevard des Italiens
          75009 Paris, France
          Phone: +33-1-40-14-45-46
          Fax: +33-1-40-14-69-73
          Web site: http://www.bnpparibas.com

          CREDIT SUISSE FIRST BOSTON
          11 Madison Ave.
          New York, NY 10010-3629
          Phone: 212-325-2000
          Fax: 212-325-6665
          Web site: http://www.csfb.com

          CALYON
          9, quai du President Paul Doumer
          92920 La Defense Cedex, France
          Phone: +33-1-41-89-00-00
          Fax: +33-1-41-89-06-20
          Web site: http://www.calyon.com

          HSBC
          8 Canada Sq.
          London
          E14 5HQ, United Kingdom
          Phone: +44-20-7991-8888
          Fax: +44-20-7992-4880
          Web site: http://www.hsbc.com

          SANOFI-AVENTIS
          174 avenue de France
          75013 Paris, France
          Phone: +33-1-53-77-40-00
          Fax: +33-1-53-77-42-96
          Web site: http://www.sanofi-aventis.com


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


AUTOHAUS BORDE: Magdeburg Firm Goes Bust
----------------------------------------
The district court of Magdeburg opened bankruptcy proceedings
against Autohaus Borde GmbH i. L. on December 7.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until January 14, 2006 to
register their claims with court-appointed provisional
administrator Dr. Lucas F. Flother.

Creditors and other interested parties are encouraged to attend
the meeting on February 14, 2006, 9:30 a.m. at the district
court of Magdeburg, Saal D, Insolvenzabteilung,
Liebknechtstrasse 65-91, 39110 Magdeburg, 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:  AUTOHAUS BORDE GmbH i. L.
          Am Pfefferbach 3, 39387 Oschersleben
          Contact:
          Janine Nowatzki, Liquidator
          Bismarckstr. 9, 39387 Oschersleben

          Dr. Lucas F. Flother, Administrator
          Halberstadter Str. 55, 39112 Magdeburg
          Phone: 0391/5556840
          Fax: 0391/5556849


BAUUNTERNEHMEN HECHT: Creditors' Claims Due Next Week
-----------------------------------------------------
The district court of Neubrandenburg opened bankruptcy
proceedings against Bauunternehmen Hecht & Fabig GbR on December
12.  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 Wolfgang Matussek.

Creditors and other interested parties are encouraged to attend
the meeting on February 6, 2006, 1:15 p.m. at the district court
of Neubrandenburg 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:  BAUUNTERNEHMEN HECHT & FABIG GbR
          Wismarer Weg 3, 17335 Strasburg

          Wolfgang Matussek, Administrator
          Goethestrasse 6, 17033 Neubrandenburg


BOCHING HEIZUNGS: Under Bankruptcy Administration
-------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against Boching Heizungs- u. Sanitar GmbH on December 7.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until January 24,
2006 to register their claims with court-appointed provisional
administrator Dr. Oliver Hartig.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 10:15 a.m. at the district
court of Leipzig, Saal 145, 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:  BOCHING HEIZUNGS- U. SANITAR GmbH
          Contact:
          Jens Boching, Manager
          Landsberger Str. 20, 04159 Leipzig

          Dr. Oliver Hartig, Administrator
          Philipp-Mueller-Str. 44/1, 06110 Halle


DAIMLERCHRYSLER AG: Earns EUR1.6 Bln for MTU, DDC Unit
------------------------------------------------------
DaimlerChrysler AG has disposed of its MTU Friedrichshafen
division and Detroit Diesel Corp. unit's off-highway operation
to EQT Partners AB for EUR1.6 billion, Bloomberg News says.

Proceeds of the sale will be used to pay for job cuts at
Mercedes Benz and Smart GmbH's ongoing restructuring.  The sale
is also expected to augment operating profit by EUR400 million
and net income by EUR300 million.

DaimlerChrysler earlier unveiled its plans of concentrating on
building cars and trucks.  The strategy has already seen the
disposal of Adtranz train-manufacturing business and MTU Aero
Engines, and businesses unrelated to the Mercedes Car Group,
Chrysler and commercial vehicle divisions.

Stephen Pope, an analyst at Cantor Fitzgerald in London, said:
"From a strategic point of view, this sale allows them to narrow
the spotlight on being a maker of premium cars."

"There was some haste to get this done and, had they had more
time and a relaxed schedule to get this done, they might have
been able to get more for the business," he said.

MTU, which employs more than 6,000 people, builds engines for
trains, ships and construction machinery.  Its role as supplier
of engines for Germany's main battle tank, Leopard II, was
earlier cited as a potential impediment to any sale.

EQT is a private equity group in Northern Europe, which manages
funds with activities in buyouts as well as mezzanine finance.
It currently manages approximately EUR6 billion in seven funds.
EQT funds have invested approximately EUR3 billion in about 40
companies.

Detroit Diesel Corporation (DDC) manufactures on-highway medium
and heavy-duty diesel engines for the commercial truck market.
Engines are serviced through a worldwide network of more than
1,900 authorized distributor and dealer locations.

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

          EQT PARTNERS AB
          P.O. Box 16409
          S-103 27 Stockholm
          Phone: +46 8 506 55 300
          Fax: +46 8 506 55 319
          Web site: http://www.eqt.se

          MTU FRIEDRICHSHAFEN GmbH
          http://www.mtu-online.com

          DETROIT DIESEL CORPORATION
          13400 Outer Dr. West
          Detroit, MI 48239
          Phone: 313-592-5000
          Fax: 313-592-7323
          Web site: http://www.detroitdiesel.com


DOLD A LA CARTE: Court to Verify Claims April
---------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Dold a la Carte GmbH on December 7.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 9, 2006
to register their claims with court-appointed provisional
administrator Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting on January 26, 2006, 10:05 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
4, 2006, 10:00 a.m. at the same venue.

CONTACT:  DOLD A LA CARTE GmbH
          Beckumer Str. 34, 13507 Berlin

          Dr. Dirk Wittkowski, Administrator
          Kirchblick 11, 14129 Berlin


GERMAN LOGISTIK: Leipzig Court Appoints Administrator
-----------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against German Logistik Limited on December 6.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until January 16, 2006 to
register their claims with court-appointed provisional
administrator Elizabeth Anne Winzar.

Creditors and other interested parties are encouraged to attend
the meeting on February 13, 2006, 2:15 p.m. at the district
court of Leipzig, Saal 145, 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:  GERMAN LOGISTIK LIMITED
          Zweigniederlassung Hohe Str. 9-13, 04107 Leipzig
          Contact:
          Elizabeth Anne Winzar, Manager

          Katrin Bringezu, Administrator
          Nonnenstrasse 37, 04229 Leipzig


KARSTADTQUELLE AG: Beats Christmas Sale Forecast
------------------------------------------------
Christmas sales this year topped last year, department store and
mail order group KarstadtQuelle AG told AFX News recently.

"Business was good," said an unnamed spokesman, adding, "We are
ahead of plan."

The retail giant had expected this year's sales to decline.  The
group will publish figures on January 9, 2005.

                            *   *   *

Based in Theodor-Althoff-Str. 2, D-45133 Essen, KarstadtQuelle
AG -- http://www.karstadtquelle.com-- is Germany's largest
department store and mail order group.  It has annual sales of
EUR13.5 billion and employs around 90,000.  The retailer has
been suffering from sluggish consumption and high unemployment
rate in Germany.  KarstadtQuelle posted an EBITDA of -EUR428
million in 2004.

The group is currently restructuring its operations, selling off
non-core assets and implementing costs saving measures.  Because
of the positive performance of the "KarstadtQuelle Neu" program,
the company expects operating EBITDA of over EUR500 million in
2005.

CONTACT:  KARSTADTQUELLE AG
          Theodor-Althoff-Str. 2
          D-45133 Essen
          Phone: +49-201-727-1
          Fax: +49-201-727-5216
          Web site: http://www.karstadtquelle.com


KOMMANDITGESELLSCHAFT POSSEHL: Creditors Meeting Set March
----------------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Kommanditgesellschaft Possehl & Semmler GmbH & Co. KG on
December 2.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
February 3, 2006 to register their claims with court-appointed
provisional administrator Karsten Totter.

Creditors and other interested parties are encouraged to attend
the meeting on March 2, 2006, 9:20 a.m. at the district court of
Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4.
Etage, Anbau, Saal B 405, 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:  KOMMANDITGESELLSCHAFT POSSEHL & SEMMLER GmbH & Co. KG
          Gustav-Adolf-Strasse 93, 22043 Hamburg
          Contact:
          Manfred Possehl, Manager
          Denksteinweg 9, 22043 Hamburg
          Paul Semmler, Manager
          Feldschmiede 12i, 22159 Hamburg

          Karsten Totter, Administrator
          Speersort 4/6, 20095 Hamburg
          Phone: 303010
          Fax: 30301246


MARGARETE MEYER: Cloppenburg Court to Verify Claims March
---------------------------------------------------------
The district court of Cloppenburg opened bankruptcy proceedings
against Margarete Meyer, Heinz Fanger u. Partner GmbH GbR on
December 1.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
February 17, 2006 to register their claims with court-appointed
provisional administrator Hermann Berding.

Creditors and other interested parties are encouraged to attend
the meeting on January 20, 2006, 11:30 a.m. at the district
court of Cloppenburg, Saal 6, Hauptgebaude, Burgstrasse 9, 49661
Cloppenburg, 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 March
3, 2006, 11:00 a.m. at the same venue.

CONTACT:  MARGARETE MEYER, HEINZ FANGER U. PARTNER GmbH GbR
          Brinkwand 1, 49688 Lastrup
          Contact:
          Margarete Meyer, Manager
          Heinz Fanger, Manager
          Am Klapphaken 21, 49377 Vechta

          Hermann Berding, Administrator
          Jammertal 1, 49661 Cloppenburg
          Phone: 04471/9126-0
          Fax: 04471/82997


METALLIUM GMBH: Proofs of Claim Due January
-------------------------------------------
The district court of Essen opened bankruptcy proceedings
against Metallium GmbH on December 13.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until January 11, 2006 to register their
claims with court-appointed provisional administrator Angel
Gerigk.

Creditors and other interested parties are encouraged to attend
the meeting on January 26, 2006, 1:30 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:  METALLIUM GmbH
          Auf der Reihe 2, 45884 Gelsenkirchen
          Contact:
          Burkhard Nowak, Manager
          Wittener Str. 4, 45884 Gelsenkirchen

          Angela Gerigk, Administrator
          Recklinghauser Strasse 17, 46282 Dorsten
          Phone: 02362/993480
          Fax: 02362/993481


PRASENT AUTO: Gera Court Calls in Administrator
-----------------------------------------------
The district court of Gera opened bankruptcy proceedings against
PRASENT Auto-Park GmbH Jena on December 8.  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 J.
Schneider.

Creditors and other interested parties are encouraged to attend
the meeting on February 7, 2006, 1:40 a.m. at the district court
of Gera, Rudolf-Diener-Str. 1, Zimmer 317, 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:  PRASENT AUTO-PARK GmbH JENA
          Im Steinfeld 10, 07751 Jena-Maua

          J. Schneider, Administrator
          Tatzendpromenade 2a, 07745 Jena


QUALICEPT RECHNERGESTUETZTE: Falls into Bankruptcy
--------------------------------------------------
The district court of Monchengladbach opened bankruptcy
proceedings against Qualicept Rechnergestuetzte Systeme GmbH on
December 14.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
February 13, 2006 to register their claims with court-appointed
provisional administrator Christian Krause.

Creditors and other interested parties are encouraged to attend
the meeting on March 6, 2006, 9:15 a.m. at the district court of
Monchengladbach, Hohenzollernstr. 157, 41061 Monchengladbach,
Erdgeschoss, Sitzungssaal A 58, 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:  QUALICEPT RECHNERGESTUETZTE SYSTEME GmbH
          Duenner Strasse 43 - 45, 41066 Monchengladbach
          Contact:
          Peter Stemann, Manager

          Christian Krause, Administrator
          Cecilienallee 45, 40474 Duesseldorf


S&K BAU: Potsdam Business Goes under
------------------------------------
The district court of Potsdam opened bankruptcy proceedings
against S&K Bau GmbH on December 14.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until January 25, 2006 to register their claims
with court-appointed provisional administrator Dr. Christoph
Schulte-Kaubruegger.

Creditors and other interested parties are encouraged to attend
the meeting on February 22, 2006, 1:50 p.m. at the district
court of Potsdam, Nebenstelle Lindenstrasse 6, 14467 Potsdam,
Saal 004, 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:  S&K Bau GmbH
          Genshagener Strasse 6 b, 14974 Ludwigsfelde

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


TECHNALINE BUEROSITZMOBEL: Claims Filing Period Ends March 6
------------------------------------------------------------
The district court of Sulzbach opened bankruptcy proceedings
against Technaline Buerositzmobel GmbH on December 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 6, 2006
to register their claims with court-appointed provisional
administrator Thomas Becker.

Creditors and other interested parties are encouraged to attend
the meeting on January 13, 2006, 9:10 a.m. at the district court
of Sulzbach, Aussenstelle Sulzbach, Vopeliusstrasse 2, 66280
Sulzbach, 1. Etage, Saal 13, 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 March 28, 2006, 9:00 a.m. at the same
venue.

CONTACT:  TECHNALINE BUEROSITZMOBEL GmbH
          Tritschler Strasse 6, 66606 St. Wendel
          Contact:
          Guenther Kuhn, Manager
          Buchenweg 1 c, 66571 Eppelborn

          Thomas Becker, Administrator
          Brueckenstrasse 60, 66763 Dillingen
          Phone: (06831) 769980
          Fax: (06831) 7699870


TOMAS TROCKENBAU: Court to Verify Claims May
--------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Tomas Trockenbau GmbH on December 8.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 6, 2006
to register their claims with court-appointed provisional
administrator Stephan Mitlehner.

Creditors and other interested parties are encouraged to attend
the meeting on January 25, 2006, 9:35 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report on May
3, 2006, 9:00 a.m. at the same venue.

CONTACT:  TOMAS TROCKENBAU GmbH
          Soldiner Str.92,13359 Berlin

          Stephan Mitlehner, Administrator
          Walter-Benjamin-Platz 6, 10629 Berlin


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


MALEV HUNGARIAN: Implements Redundancy Plan Early
-------------------------------------------------
Loss-making carrier Malev Hungarian Airlines Rt. has
restructured its operations and laid off 400 workers, Budapest
Business Journal says.

Subsidiaries Malev GH Ground Services and Aeroplex now operate
the carrier's ground and maintenance services respectively.  The
job cuts, which cost Malev between HUF1 billion to HUF1.5
billion, is part of a large-scale reduction originally scheduled
for early next year.  Chief Executive Janos Gonci says Malev
could recover the amount within six to eight months.  Malev now
employs 2,800 people.

Malev expects another operating loss for 2005.  It sees a HUF1.8
billion deficit at the operating level and HUF4.95 billion
overall.  In 2004, it booked an operating loss of HUF4.4 billion
(US$$21.9 million) on revenues of HUF123.8 billion.  It expects
to break even next year and turn a profit in 2007.

Since the fall of Communism in the country, the government,
which owns 99.95% of Malev, has failed to dispose of the
airline, which has struggled amid competition from budget
airlines.

CONTACT:  MALEV HUNGARIAN AIRLINES
          Konyves Kalman korut 12-14,
          H-1097 Budapest
          Phone: +36 1 235 3100
          Fax: +36 1 235-3255
          E-mail: malev@malev.hu
          Web site: http://www.malev.hu


PANNONPLAST RT: Partner Pays EUR6.7 Mln for Control of Polifoam
---------------------------------------------------------------
Troubled plastic manufacturer Pannonplast Rt. has disposed of
its 51% stake in plastic foam unit Polifoam to German foam maker
Trocellen, Budapest Business Journal says.

Pannonplast earned around EUR6.7 million from the sale, which
would make Trocellen 100% owner of Polifoam.  Pannonplast will
include the figure in its fourth-quarter accounts.  The sale,
which Pannonplast expects to complete by end of March, is still
subject to regulatory approval.

In August, Pannonplast President Balazs Bokorovics revealed that
given the right price, it would sell the stake in Polifoam.
Earlier this year, Pannonplast also sold its 50% stake in
Pannonpipe Kft. to co-owner Pipelife International GmbH to focus
on its consumer packaging business and slash debt by HUF2.8
billion.

Pannonplast, which manufactures a wide range of plastic finished
products, reported its third straight losses in 2004 due to
dropping demand for its products in the sluggish western
European market.  Although 2004 revenues amounted to HUF26.5
billion, the company still booked losses of HUF1.8 billion.  CEO
Balazs Szabo, which took over the helm in September 2004, has
been cutting costs and selling units to restore the company's
profitability.

CONTACT:  PANNONPLAST MUANYAGIPARI RT.
          Nagytetenyi ut 216-218
          1225 Budapest,
          Phone: +36 1 207 1936
          Fax: +36 1 207 1525
          Web site: http://www.pannonplast.hu


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


TISCALI S.P.A.: Delists from Euronext Paris
-------------------------------------------
Tiscali S.p.A. has delisted from the Eurolist of Euronext Paris
(France).

The voluntary delisting, approved by Euronext, was motivated by
the low trading volumes of Tiscali in the French market, which
accounted for less than 1% of total.

                        About the Company

Headquartered in Cagliari, Italy, Tiscali has more than 7
million subscribers, of which over 1.5 million are broadband
users.  It has sold non-core assets to raise money to cover a
EUR250 million bond that matured in July.

As of March 31, Tiscali's financial assets totaled EUR180.2
million while debt amounted to EUR381.7 million.  Pre-tax loss
in the first-quarter amounted to EUR17.9 million.  Fitch gives
the company a short-term rating of 'B' and rates its senior
unsecured debt 'CCC+'.  Tiscali Finance S.A.'s EUR250 million
guaranteed floating-rate notes, which fell due in July, and its
EUR209.5 million guaranteed equity-linked bonds due in September
2006 are rated 'CCC+'.

CONTACT:  TISCALI S.p.A.
          Sa Illetta
          09122 Cagliari
          Phone: +39 02 309011
          E-mail: ir@tiscali.com
          Web site: http://www.tiscali.com


TISCALI S.P.A.: Rules out Czech Branch Disposal
-----------------------------------------------
Tiscali S.p.A. has ruled out selling its Czech unit, said Czech
News Agency.

Tiscali Telekomunikace Ceska republika has generated interest
from at least five buyers, including GTS Novera a eTel.  Naveed
Gill, the unit's chief executive, said Tiscali chose not to
dispose of its Czech branch following a thorough review of the
business and analysis of the offers.

Talks of a possible sale surfaced, as Tiscali announced plans to
streamline operations in Belgium, France and South Africa.

Headquartered in Cagliari, Italy, Tiscali has more than 7
million subscribers, of which over 1.5 million are broadband
users.  It has sold non-core assets to raise money to cover a
EUR250 million bond that matured in July.

As of March 31, Tiscali's financial assets totaled EUR180.2
million while debt amounted to EUR381.7 million.  Pre-tax loss
in the first-quarter amounted to EUR17.9 million.  Fitch gives
the company a short-term rating of 'B' and rates its senior
unsecured debt 'CCC+'.  Tiscali Finance S.A.'s EUR250 million
guaranteed floating-rate notes, which fell due in July, and its
EUR209.5 million guaranteed equity-linked bonds due in September
2006 are rated 'CCC+'.

CONTACT:  TISCALI S.p.A.
          Sa Illetta
          09122 Cagliari
          Phone: +39 02 309011
          E-mail: ir@tiscali.com
          Web site: http://www.tiscali.com


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


ATKARSK-AGRO-PROM-TRANS: Bankruptcy Hearing Set March 16
--------------------------------------------------------
The Arbitration Court of Saratov region has commenced bankruptcy
supervision procedure on open joint stock company Atkarsk-Agro-
Prom-Trans.  The case is docketed as A-57-448B/05-31.  Mr. A.
Chesnakov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 410012, Russia,
Saratov, B. Kazachya Str. 23/27, Office 28-32.  A hearing will
take place on March 16, 2006, 2:35 p.m. at the Arbitration Court
of Saratov region at Russia, Babushkin Vvoz Str. 1, 14th floor.

CONTACT:  ATKARSK-AGRO-PROM-TRANS
          Russia, Saratov region, Atkarsk

          A. CHESNAKOV
          Temporary Insolvency Manager
          410012, Russia, Saratov region,
          B. Kazachya Str. 23/27, Office 28-32


CRYOGENIC ENGINEERING: Under Bankruptcy Supervision
---------------------------------------------------
The Arbitration Court of Omskregion has commenced bankruptcy
supervision procedure on close joint stock company Cryogenic
Engineering.  The case is docketed as K/E-278/05.  Mr. E.
Vitkovskiy has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 644122, Russia,
Omsk region, 5th Armii Str. 4, Office 1.  A hearing will take
place on February 21, 2006.

CONTACT:  CRYOGENIC ENGINEERING
          644105, Russia, Omsk region,
          22nd Partsyezda Str. 97

          E. VITKOVSKIY
          Temporary Insolvency Manager
          644122, Russia, Omsk region,
          5th Armii Str. 4, Office 1


INTERFIN TRADE: S&P Affirms Junk Ratings
----------------------------------------
Standard & Poor's Ratings Services raised its long-term
counterparty credit rating on Russia-based Interfin Trade
Financial Company (CJSC) (IFT) to 'CCC' from 'CCC-', and
affirmed its 'C' short-term counterparty credit rating on the
group.  The outlook is stable.  At the same time, Standard &
Poor's raised its Russia national scale rating on IFT to 'ruB-'
from 'ruCCC+'.

"The upgrade reflects IFT's closer integration with parent
Unicor Managing Co. and low leverage, as well as the consistent
growth of the Russian securities market," said Standard & Poor's
credit analyst Irina Penkina.  "The ratings remain constrained,
however, by IFT's narrow related-party customer base, small
size, and short track record, as well as by the high sensitivity
of its financial performance to the volatile domestic securities
market."

Established in 2001, IFT is a holding company for a number of
legal entities engaged in securities brokerage and asset
management.  At Dec. 31, 2004, the group's consolidated assets
totaled US$19.0 million, and assets under management US$310
million.

"We expect IFT to continue to perform as a captive financial
company for the Unicor Managing Co. group and gradually
diversify its customer base in brokerage and fund management,
which should improve its revenue base," said Ms. Penkina.

Upside potential for the ratings will depend on IFT's ability to
withstand high securities market volatility and expand its
customer base.  The ratings would come under pressure if the
group were to increase its risk appetite or if capitalization
were to decline significantly.

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
these Standard & Poor's numbers: Client Support Europe (44) 20-
7176-7176; London Press Office Hotline (44) 20-7176-3605; Paris
(33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46)
8-440-5916; or Moscow (7) 095-783-4017.  Members of the media
may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  INTERFIN TRADE FINANCIAL COMPANY
          Web site: http://www.interfintrade.com


OAO AEROFLOT: To Beef up Fleet with Boeing 787s
-----------------------------------------------
Troubled national carrier Aeroflot will buy 22 Boeing 787s worth
US$2.5 billion to modernize it fleet, Reuters says.

Aeroflot Deputy General Director Lev Koshlyakov said, "If
everything goes well, the contract will be signed before the end
of March."

Local daily Kommersant, citing company sources, said Aeroflot
recently decided to increase the order from 22 to 28.  Deputy
General Director Igor Desyatnichenko said in October the carrier
had to choose between Boeing 787 and Airbus A350 to service
long-haul routes.

In October, Aeroflot said it would lease five A320 airliners in
addition to the seven Airbus A321s initially planned.  Aeroflot
will also replace outdated Tu-134 planes with foreign-made used
aircraft and; beginning 2008, buy 30 planes, preferably An-148s
or RRJs for its regional flights.

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


SHEKINSKAYA: Poultry Farm Succumbs to Bankruptcy
------------------------------------------------
The Arbitration Court of Tula region commenced bankruptcy
proceedings against Shekinskaya after finding the poultry farm
insolvent.  The case is docketed as A68-65/B-04.  Mr. D.
Kochetkov has been appointed insolvency manager.  Creditors may
submit their proofs of claim to 300012, Russia, Tula,
Zhavoronkova Str. 1, Office 507.

CONTACT:  D. KOCHETKOV
          Insolvency Manager
          300012, Russia, Tula region,
          Zhavoronkova Str. 1, Office 507


SKHODNYA-FURNITURE: Insolvency Manager Takes over Firm
------------------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Skhodnya-Furniture after finding the open
joint stock company insolvent.  The case is docketed as A41-K2-
12410/02.  Mr. V. Kubelun has been appointed insolvency manager.
Creditors have until January 8, 2006 to submit their proofs of
claim to 119313, Russia, Moscow region, Post User Box 115.

CONTACT:  SKHODNYA-FURNITURE
          Russia, Moscow region,
          Skhodnya, Nekrasova Str. 2

          V. KUBELUN
          Insolvency Manager
          119313, Russia, Moscow region,
          Post User Box 115
          Phone: (095) 721-02-81


SOSNINSKIY: Omsk Court Appoints Insolvency Manager
--------------------------------------------------
The Arbitration Court of Omsk region commenced bankruptcy
proceedings against Sosninskiy (TIN 5512004310) after finding
the company insolvent.  The case is docketed as K/E-262/05.  Mr.
K. Kiselevskiy has been appointed insolvency manager.

CONTACT:  SOSNINSKIY
          644024, Russia, Omsk region,
          Gorkovskiy region, Sosnino

          K. KISELEVSKIY
          Insolvency Manager
          644043, Russia, Omsk region,
          K. Libknekhta Str. 35, 13th


SPINNING-SEWING: Claims Filing Period Ends January 8
----------------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Spinning-Sewing after finding the company
insolvent.  The case is docketed as A41-K2-2940/05.  Ms. O.
Kraskovskaya has been appointed insolvency manager.  Creditors
have until January 8, 2006 to submit their proofs of claim to
107078, Russia, Moscow region, Post User Box 281.

CONTACT:  SPINNING-SEWING FACTORY
          142672, Russia, Moscow region, Orekhovo-Zuevskiy
          region Likino-Dulevo, Sovetskaya Str. 41

          O. KRASKOVSKAYA
          Insolvency Manager
          107078, Russia, Moscow region,
          Post User Box 281


STROY-CONSTRUCTION: Names G. Kharitonov Insolvency Manager
----------------------------------------------------------
The Arbitration Court of Kaluga region commenced bankruptcy
proceedings against Stroy-Construction after finding the close
joint stock company insolvent.  The case is docketed as A23-
612/05B-10-18.  Mr. G. Kharitonov has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 248000, Russia, Kaluga region, Main Post
Office, Post User Box 22.

CONTACT:  STROY-CONSTRUCTION
          249875, Russia, Kaluga region, Iznoskovskiy region,
          Myatlevo, Internatsionalnaya Str. 66

          G. KHARITONOV
          Insolvency Manager
          248000, Russia, Kaluga region,
          Main Post Office, Post User Box 22


TAMBOV-POLYMER-MASH: Bankruptcy Hearing Resumes January
-------------------------------------------------------
The Arbitration Court of Tambov region has commenced bankruptcy
external management procedure on open joint stock company
Tambov-Polymer-Mash.  The case is docketed as A64-7912/04-2.
Mr. V. Kuzmin has been appointed external insolvency manager.

Creditors may submit their proofs of claim to:

(a) TAMBOV-POLYMER-MASH
    392031, Russia, Tambov region,
    Sovetskaya Str. 194

(b) V. KUZMIN
    External Insolvency Manager
    241012, Russia, Bryansk region,
    Kamozina Str. 45, Apartment 3

A hearing will take place on January 26, 2006 at 392020, Russia,
Tambov, Penzenskaya Str. 67/12.


TRUST TVER-STROY: Tver Court Opens Bankruptcy Proceedings
---------------------------------------------------------
The Arbitration Court of Tver region commenced bankruptcy
proceedings against Trust Tver-Stroy #1 after finding the close
joint stock company insolvent.  The case is docketed as A66-
9019/2005.  Mr. S. Postnov has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 170023, Russia, Tver region, Rzhevskaya Str.
10.

CONTACT:  S. POSTNOV
          Insolvency Manager
          170023, Russia, Tver region,
          Rzhevskaya Str. 10


ZARECHNAYA+: Declared Insolvent
-------------------------------
The Arbitration Court of Kursk region commenced bankruptcy
proceedings against Zarechnaya+ after finding the poultry farm
insolvent.  The case is docketed as A35-6630/05 "g".  Mr. L.
Shkilev has been appointed insolvency manager.

CONTACT:  ZARECHNAYA+
          Russia, Kursk region,
          Kulakova Pr. 158

          L. SHKILEV
          Insolvency Manager
          305001, Russia, Kursk region,
          Belinskogo Str. 48


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


DOGUS HOLDING: Long-term Rating Improves to BB-; Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
counterparty credit rating on Turkey-based conglomerate Dogus
Holding A.S. to 'BB-' from 'B', and removed it from CreditWatch,
where it had been placed with positive implications on Sept. 6,
2005.  The outlook is stable.  At the same time, Standard &
Poor's affirmed its 'B' short-term counterparty credit rating on
the group.

"The upgrade reflects the strong positive impact on Dogus'
leverage and liquidity from two recent asset disposals," said
Standard & Poor's credit analyst Emmanuel Volland.

The asset disposals are: (1) the sale of a 78.1% stake in food
retailer Tansas to Koc Holding A.S. in November 2005; and (2)
the sale of 25.5% in ordinary shares and 49.2% in founders'
shares of its banking arm, Turkiye Garanti Bankasi A.S.
(Garanti; BB-/Stable/--), to General Electric Co. (AAA/Stable/A-
1+) in December 2005.

The proceeds from the two deals above, US$229 million from
Tansas via the group's corporate arm Dogus Corporate and US$1.8
billion from Garanti, combined with US$305 million Dogus
received from the sale of put options to an investment fund,
have substantially reduced Dogus' leverage.

The group is likely to have a cash position of about US$1.25
billion at year-end 2005, with unadjusted gross debt of about
US$500 million at the holding-company level and Dogus Corporate,
compared with US$1.0 billion at Dec. 31, 2004.  We expect debt
to continue to decline, as Dogus' large cash pile will enable
the group to repay some outstanding debt.

"We expect that Dogus will follow a relatively conservative
strategy and keep a satisfactory financial and liquidity
profile," said Mr. Volland.

The group's tender for the Turkish automotive inspection and
national lottery concession business is unlikely to harm
liquidity as Dogus plans to finance these potential acquisitions
through special-purpose vehicles.

"Management's business strategy for the group's remaining
operating subsidiaries, future dividend policy, and use of
disposal proceeds will be key considerations for the future
direction of the ratings," Mr. Volland said.

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
these Standard & Poor's numbers: Client Support Europe (44) 20-
7176-7176; London Press Office Hotline (44) 20-7176-3605; Paris
(33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46)
8-440-5916; or Moscow (7) 095-783-4017.  Members of the media
may also contact the European Press Office via e-mail:
media_europe@standardandpoors.com

CONTACT:  DOGUS HOLDING A.S.
          Web site: http://www.dogusholding.com.tr/


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


AVTOSHTAMP: Bankruptcy Supervision Starts
-----------------------------------------
The Economic Court of Kirovograd region commenced bankruptcy
supervision procedure on CJSC Plant Avtoshtamp (code EDRPOU
14368956) on July 29, 2005.  The case is docketed as 10/155.
Mr. Vadim Kosarenko (License Number AA 484182) has been
appointed temporary insolvency manager.  The company holds
account number 26006181251001 at CB Privatbank, Oleksandriya
branch, MFO 323691.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) AVTOSHTAMP
    28000, Ukraine, Kirovograd region,
    Oleksandriya, B. Yoganson Str. 1

(b) VADIM KOSARENKO
    Temporary Insolvency Manager
    Ukraine, Kirovograd region,
    Preobrazhenska Str. 6/29
    Phone: (050) 565-74-78

(c) ECONOMIC COURT OF KIROVOGRAD REGION
    25022, Ukraine, Kirovograd region,
    Lunacharski str. 29


ILLINETSKIJ TIN: Last Day for Filing Claims Tomorrow
----------------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
supervision procedure on LLC Illinetskij Tin Plant (code EDRPOU
04395225) on November 17, 2005.  The case is docketed as B
24/243/05.  Tushevskij Anatolij (License Number AA 176044) has
been appointed temporary insolvency manager.  The company holds
account number 260023011338 at JSCB Mriya, MFO 302559.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) ILLINETSKIJ TIN PLANT
    22700, Ukraine, Vinnitsya region,
    Illintsi, Shors Str. 1

(b) TUSHEVSKIJ ANATOLIJ
    Temporary Insolvency Manager
    21000, Ukraine, Vinnitsya region,
    40-richya Peremogi Str. 27 A, room 57
    Phone: 35-63-09

(c) ECONOMIC COURT OF VINNITSYA REGION
    21100, Ukraine, Vinnitsya region,
    Hmelnitske Shose, 7


MANVIT: Insolvency Manager Takes over Operations
------------------------------------------------
The Economic Court of Dnipropetrovsk region commenced bankruptcy
proceedings against Manvit (code EDRPOU 21889443) on November
17, 2005 after finding the limited liability company insolvent.
The case is docketed as B 24/243/05.  Mr. Yurin Mikola (License
Number AA 783080) has been appointed liquidator/insolvency
manager.  The company holds account number 26006156101001 at CB
Privatbank, Nikopol branch, MFO 305891.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) MANVIT
    Ukraine, Dnipropetrovsk region,
    Nikopol,

(b) YURIN MIKOLA
    Temporary Insolvency Manager
    53219, Ukraine, Dnipropetrovsk region,
    Nikopol, Druzhbi Str. 6/98

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


PLEMZAVOD KVITNEVE: Falls into Insolvency
-----------------------------------------
The Economic Court of Hmelnitskij region commenced bankruptcy
proceedings against Plemzavod Kvitneve (code EDRPOU 23652828) on
November 15, 2005 after finding the limited liability company
insolvent.  The case is docketed as 17/214-B.  Mr. M. Dejneka
(License Number AA 779296) has been appointed
liquidator/insolvency manager.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) PLEMZAVOD KVITNEVE
    Ukraine, Hmelnitskij region,
    Bilogirskij district, Kvitneve

(b) M. DEJNEKA
    Liquidator/Insolvency Manager
    Ukraine, Hmelnitskij region,
    Hortovitskij Str. 8/120

(c) ECONOMIC COURT OF HMELNITSKIJ REGION
    29000, Ukraine, Hmelnitskij region,
    Nezalezhnosti Square 1


SHAHTOBUDIVELNIK: Creditors' Claims Due this Week
-------------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Shahtobudivelnik (code EDRPOU 00184069) on
November 10, 2005 after finding the open joint stock company
insolvent.  The case is docketed as 33/110 B.  Mr. Oleksij
Angelin (License Number 116137) has been appointed
liquidator/insolvency manager.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) SHAHTOBUDIVELNIK
    Ukraine, Donetsk region, Selidove, Gostre

(b) OLEKSIJ ANGELIN
    Liquidator/Insolvency Manager
    87200, Ukraine, Donetsk region,
    Starobeshevo, Licheva Str. 78

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


SVITOCH CONFECTIONERY: Succumbs to Bankruptcy
---------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
supervision procedure on Private Enterprise Confectionery
Factory Svitoch (code EDRPOU 32800912) on October 25, 2005.  The
case is docketed as 6/256-29/312.  Mr. Roman Ulyanik (License
Number AA 669647) has been appointed temporary insolvency
manager.  The company holds account number 260055447 at JSPPB
Aval, Lviv regional branch, MFO 336462.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) CONFECTIONERY FACTORY SVITOCH:
    Ukraine, Lviv region,
    Shevchenko Str. 321

(b) ROMAN ULYANIK
    Temporary Insolvency Manager
    79052, Ukraine, Lviv region,
    Shiroka Str. 90/16

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


UKRGAZGRUP: Kyiv Court Opens Bankruptcy Proceedings
---------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Ukrgazgrup (code EDRPOU 30467543) on October
20, 2005 after finding the open joint company insolvent.  The
case is docketed as 43/787-b.  Mr. Petro Shnit (License Number
AA 783238) has been appointed liquidator/insolvency manager.
The company holds account number 260053519 at JSB Ukrgazbank,
MFO 320478.

Creditors have until December 30, 2005 to submit their proofs of
claim to:

(a) UKRGAZGRUP
    02068, Ukraine, Kyiv region,
    Knyazhij zaton Str. 11/135

(b) PETRO SHNIT
    Liquidator/Insolvency Manager
    02068, Ukraine, Kyiv region,
    Knyazhij zaton Str. 11/135

(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
===========================


BALMY MOODS: Appoints BDO Stoy Hayward Liquidator
-------------------------------------------------
M. R. Cavell, chairman of Balmy Moods Limited, informs that the
subjoined special resolution to wind up the company was passed
at an EGM held on Nov. 30 at The Atrium, 20 Wollaton Street,
Nottingham.  Dermot Justin Power and Matthew Dunham of BDO Stoy
Hayward LLP, Commercial Buildings, 11-15 Cross Street,
Manchester M2 1BD were appointed joint liquidators.  Creditors
are required on or before January 9, 2005 to send in their
names, addresses, debt or claims to Dermot Justin Power.

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


BOSWELL HOTELS: Claims Filing Period Ends Friday
------------------------------------------------
J. R. Boswell, chairman of Boswell Hotels Limited, informs that
the special and ordinary resolutions to wind up the company were
passed at an EGM held on Dec. 5 at 29 King Street, Newcastle
under Lyme, Staffordshire ST5 1ER.  Martin Williamson of DS
Insolvency Services Ltd., 29 King Street, Newcastle,
Staffordshire ST5 1ER was appointed liquidator.

Creditors are required on or before December 30, 2005 to send in
their full names, addresses and descriptions, full particulars
of debts or claims, and the names and addresses of Solicitors
(if any), to Martin Williamson.

CONTACT:  DS INSOLVENCY SERVICES LTD.
          29 King Street
          Newcastle-Under-Lyme
          Staffordshire ST5 1ER
          Phone: 01782 614618
          Fax: 01782 717287
          E-mail: mwilliamson@dsinsolvency.co.uk


CANADIAN CHEESE: Gives Creditors Until January 6 to File Claims
---------------------------------------------------------------
Company Names: CANADIAN CHEESE HOLDINGS LIMITED
               CANADIAN CHEESE IMPORTS LIMITED

D. Waite, chairman of these companies, informs that the special
and extraordinary resolutions to wind up the firms were passed
at an EGM held on Dec. 2 at 405 The West Mall, 10th Floor,
Toronto, Ontario, Canada.  Matthew Richard Meadley Wild and
Geoffrey Lambert Carton-Kelly of Baker Tilly, The Clock House,
140 London Road, Guildford, Surrey GU1 1U were appointed joint
liquidators.

Creditors are required on or before January 6, 2006 to send in
their full names, addresses and descriptions, full particulars
of debts or claims, and the names and addresses of Solicitors
(if any), to Matthew Richard Meadley Wild.

CONTACT:  BAKER TILLY
          The Clock House, 140 London Road,
          Guildford, Surrey GU1 1UW
          Phone: 01483 307000
          Fax: 01483 569 281
          Web site: http://www.bakertilly.co.uk


CHANDOS HOLDINGS: Calls in Liquidator from Harrisons
----------------------------------------------------
P. Turtle, chairman of Chandos Holdings Limited, informs that
the special resolution to wind up the company was passed at an
EGM held on Nov. 30 at 99 Gresham Street, London EC2V 7NG.  P.
R. Boyle of Harrisons, 4 St Giles Court, Southampton Street,
Reading RG1 2QL was appointed liquidator.

CONTACT:  HARRISONS
          4 St Giles Court, Southampton Street,
          Reading RG1 2QL
          Phone: 0118 951 0798
          Fax:   0118 939 4409
          E-mail: info@harrisons.uk.com
          Web site: http://www.harrisons.uk.com


DESIGN & DEVELOPMENT: Files for Liquidation
-------------------------------------------
A. Livingstone, director of Design & Development U.K. Limited -
NC, informs that the extraordinary and ordinary resolutions to
wind up the firm were passed at an EGM held on Oct. 18 at
Fergusson & Co. Ltd., Shackleton House, Falcon Court, Preston
Farm Industrial Estate, Stockton on Tees TS18 3TS.  Malcolm
Edward Fergusson of Fergusson & Co. Ltd., Shackleton House,
Falcon Court, Preston Farm Industrial Estate, Stockton on Tees
TS18 3TS was appointed liquidator.

CONTACT:  FERGUSSON & CO LIMITED
          Shackleton House
          Falcon Court
          Preston Farm
          Stockton On Tees
          North Yorkshire TS18 3TS
          Phone: 01642 669 155
          Fax: 01642 613 535


DMI (LOWESTOFT): Hires Liquidators from KPMG
--------------------------------------------
DMI (Lowestoft) Limited informs that the special and ordinary
resolutions to wind up the company were passed at an EGM held on
Dec. 1 at Unit 1, Mile House Business Park, Darlington Road,
Northallerton, North Yorkshire DL6 2NW.  John Paul Bateman and
Brian Green of KPMG LLP, 8 Princes Parade, Liverpool L3 1QH were
appointed joint liquidators.

CONTACT:  KPMG LLP
          8 Princes Parade,
          Liverpool L3 1QH
          Phone: (0151) 473 5100
          Fax:   (0151) 473 5200
          Web site: http://www.kpmg.co.uk


DOUGLAS OF SCOTLAND: Files for Liquidation
------------------------------------------
Another famous British textile firm has folded up, leaving 42
workers jobless, The Daily Record says.  The company blames
cheap foreign imports for its financial difficulties.

Alan Barr, a spokesman for liquidators KPMG, said: "It is really
bad timing for the workers and I really feel for them.  The
company directors felt they could no longer continue paying
wages to the staff and took the decision to petition the Court
of Session for liquidators to be appointed."

Douglas of Scotland, which opened its first factory in Hawick in
1874, is one of the most famous names in the textile industry.
For over 50 years, the company has manufactured knitwear of
superior quality from its processing mill in the 'Home of
Cashmere' in Hawick, Roxburghshire.

CONTACT:  DOUGLAS OF SCOTLAND LTD.
          2/6 Lothian Street
          Hawick TD9 9HB
          Scotland
          Phone: 01450 373359
          Fax: 01450 374605
          Web site: http://www.douglasofscotland.co.uk/


EASY SERVICES: Succumbs to Liquidation
--------------------------------------
S. Smith, director of Easy Services U.K. Limited - NC, informs
that the extraordinary and ordinary resolutions to wind up the
firm were passed at an EGM held on Nov. 15 at Holiday Inn Derby,
M1 Junction 25, Nottingham NG10 5NJ.  Colin Burke of Milner
Boardman & Partners, Century House, Ashley Road, Hale, Cheshire
WA15 9TG was appointed liquidator.

CONTACT:  MILNER BOARDMAN & PARTNERS
          Century House, Ashley Road,
          Hale, Cheshire WA15 9TG
          Phone: 0161 927 7788
          Fax: 0161 927 7733
          E-mail: info@milnerb.co.uk
          Web site: http://www.milnerboardman.co.uk


E RUBINSTEIN: Appoints Begbies Traynor Liquidator
-------------------------------------------------
R. Rubinstein, chairman of E Rubinstein & Sons Limited, informs
that the extraordinary and ordinary resolutions to wind up the
firm were passed at an EGM held on Nov. 10 at Elliot House, 151
Deansgate, Manchester M3 3BP.  Stephen L. Conn of Begbies
Traynor, Elliot House, 151 Deansgate, Manchester M3 3BP was
appointed liquidator.

CONTACT:  BEGBIES TRAYNOR
          Elliot House
          151 Deansgate
          Manchester M3 3BP
          Phone: 0161 839 0900
          Fax: 0161 839 7436
          E-mail: manchester@begbies-traynor.com
          Web site: http://www.begbies.com


EXPRESS EXHIBITIONS: Names Langley & Partners Liquidator
--------------------------------------------------------
J. W. Bolton, director of Express Exhibitions Limited - NC (t/a
SES), informs that the extraordinary and ordinary resolutions to
wind up the firms were passed at an EGM held on Nov. 8 at
Langley House, Park Road, London N2 8EX.  Alan Simon was
appointed liquidator.

CONTACT:  LANGLEY & PARTNERS
          Langley House
          Park Road
          East Finchley
          London N2 8EX
          Phone: 020 8444 2000
          Fax: 020 8444 3400
          E-mail: philip.simons@langleypartners.co.uk


GLOBUS OFFICE: Appoints PricewaterhouseCoopers Liquidator
---------------------------------------------------------
Company Names: GLOBUS OFFICE WORLD SUPERSTORES LIMITED
               GLOBUS OFFICE WORLD
               DEVELOPMENTS (BASILDON) LIMITED
               OFFICE 1 (GLASGOW) LIMITED
               OFFICE WORLD DIRECT LIMITED
               THE BUSINESS SUPERSTORE LIMITED

W. Kemmler, chairman of these companies, informs that the
special and ordinary resolutions to wind up the firms were
passed at an EGM held on Dec. 1.  Jonathan Sisson and Tim Walsh
of PricewaterhouseCoopers LLP, 12 Plumtree Court, London EC4A
4HT were appointed joint liquidators.

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          Plumtree Court
          London EC4A 4HT
          Phone: [44] (20) 7583 5000
          Fax:   [44] (20) 7822 4652
          Web site: http://www.pwc.com


LEOJAY HOLDINGS: Liquidator from Harrisons Enters Firm
------------------------------------------------------
Company Names: LEOJAY HOLDINGS LIMITED
               LEOPOLD JOSEPH UNIT TRUST MANAGERS LIMITED

P. Turtle, chairman of these companies, informs that the special
resolution to wind up the firms were passed at an EGM held on
Nov. 30 at 99 Gresham Street, London EC2V 7NG.  P. R. Boyle of
Harrisons, 4 St Giles Court, Southampton Street, Reading RG1 2QL
was appointed liquidator.

CONTACT:  HARRISONS
          4 St Giles Court, Southampton Street,
          Reading RG1 2QL
          Phone: 0118 951 0798
          Fax:   0118 939 4409
          E-mail: info@harrisons.uk.com
          Web site: http://www.harrisons.uk.com


LOCKWOOD & CARLISLE: KPMG Liquidators Take over Helm
----------------------------------------------------
Company Names: LOCKWOOD & CARLISLE LIMITED
               MERISTEM LAND LIMITED
               REDGLOBE LIMITED
               ROYTEC LIMITED

These firms inform that the special, ordinary and extraordinary
resolutions to wind up their operations were passed at a general
meeting held on Dec. 1.  John Paul Bateman and Brian Green of
KPMG LLP, 8 Princes Parade, Liverpool L3 1QH were appointed
joint liquidators.

CONTACT:  KPMG LLP
          8 Princes Parade,
          Liverpool L3 1QH
          Phone: (0151) 473 5100
          Fax:   (0151) 473 5200
          Web site: http://www.kpmg.co.uk


PLANTATION STUD: Claims Filing Period Ends January 9
----------------------------------------------------
M. Musgrave, chairman of Plantation Stud Limited, informs that
the subjoined special resolution to wind up the firm was passed
at an EGM held on Dec. 5 at Speechly Bircham, 6 St Andrew
Street, London EC4A 3LX.  Anthony Murphy and Roger Tulloch (both
licensed by the Institute of Chartered Accountants in England
and Wales) of Smith & Williamson Limited were appointed joint
liquidators.

Creditors are required on or before January 9, 2006 to send in
their full forenames and surnames, addresses and descriptions,
full particulars of debts or claims and the names and addresses
of Solicitors (if any) to Anthony Murphy.

CONTACT:  SMITH & WILLIAMSON LIMITED
          No 1 Bishops Wharf
          Walnut Tree Close
          Guildford GU1 4RA
          Phone: 01483 407 100
          Fax: 01483 301 232
          Web site: http://www.smith.williamson.co.uk


SNYDER FINANCE: Liquidators from Vantis Numerica Enter Firm
-----------------------------------------------------------
At the extraordinary general meeting of Snyder Finance (Europe),
the special resolution to wind up the company was passed.  Frank
Wessely and Peter Hughes-Holland of Vantis Numerica, 81 Station
Road, Marlow, Buckinghamshire SL7 1SX were appointed joint
liquidators.

CONTACT:  VANTIS NUMERICA
          81 Station Road, Marlow,
          Buckinghamshire SL7 1SX
          Phone: 01628 478100
          Fax:   01628 472629
          Web site: http://www.vantisnumerica.com


SPIELOTHEK (U.K.): Files for Liquidation
----------------------------------------
Members of Spielothek (U.K.) Limited inform that the special and
ordinary resolutions to wind up the company were passed at an
EGM held on Nov. 30 at Merkur Allee 1-15, 32339 Espelkamp,
Germany.  Keith R. Morgan of PKF (U.K.) LLP was appointed
liquidator.

Creditors are required on or before February 25, 2006 to send in
their full forenames and surnames, addresses and descriptions,
full particulars of debts or claims, and the names and addresses
of Solicitors (if any), to Keith R. Morgan of 18 Park Place,
Cardiff CF10 3PD.

CONTACT:  PKF (U.K.) LLP
          18 Park Place,
          Cardiff CF10 3PB
          Web site: http://www.pkf.co.uk


THOMAS STODDART: Folds up after 100 Years in Business
-----------------------------------------------------
About 30 workers lost their jobs after Thomas Stoddart went into
receivership on Dec. 22, the Evening Times says.

The news came as a shock to workers.  One staff, at the Glasgow
factory, said: "This is some Christmas present. It came totally
out of the blue."

According to reports, the company, which turned 100 years old
this year, cited unpaid VAT worth GBP500,000 in its petition.
Managing director Robert Marshall explains: "The company had
been dragging debt for 10 to 15 years but this has come out of
the blue.  We were trying to keep it going until we could move
to a new factory in London Road next year."

Liquidator Charles Moore said the staff have received all wages
and could apply through the Department of Trade and Industry for
holiday or redundancy money.  He added outstanding orders will
be honored.

Thomas Stoddart is a family-run business with one hundred years
experience in the bed industry.  Its expertise and traditional
values makes it one of Scotland's leading bed specialists.

CONTACT:  THOMAS STODDART
          544 Baltic Street
          Dalmarnock
          Glasgow G40 4SF
          Phone: 0800 0921 456 (for U.K. residents only)
          E-mail: customerservice@thomas-stoddart.co.uk
          Web site: http://www.thomas-stoddart.co.uk/


                            *********


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

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

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

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

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

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


                 * * * End of Transmission * * *