TCREUR_Public/051230.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 30, 2005, Vol. 6, No. 259

                            Headlines

F R A N C E

ALSTOM SA: Shares Deutsche Bahn Supply Contract with Bombardier
FRANCE SOIR: Parent Under Investigation
SNCM: Makes Redundancy Voluntary Under New Rehab Plan


G E R M A N Y

BOHMER BAUUNTERNEHMUNG: Aachen Court to Verify Claims March
CARL SCHNEIDER: Under Bankruptcy Administration
CWK COMPUTERSYSTEME: Creditors' Claims Due Next Month
DOWN UNDER: Hamburg Company Goes Bust
FLEISCHMANN GMBH: Claims Filing Period Ends February 14

FRAZER COFFEE: Creditors to Meet April
IMMOKONTOR GMBH: Proofs of Claim Due January
INTERTAINMENT AG: Board Tries Negotiation to Avert Bankruptcy
IWKA AG: Sells Remnant of Process Technologies Unit
JEFRA BAUSERVICE: Charlottenburg Court to Verify Claims May

MCD ART: Nuernberg Business Succumbs to Bankruptcy
MTB MISBURGER: Files for Bankruptcy
PROSIEBENSAT.1 MEDIA: Media Watchdog Sets Takeover Conditions
TARAK ENTWICKLUNGS: Chemnitz Court Names Pluta Administrator
TK-TRANS: Wolff-Rapp Administrator Takes over Helm
TOCHTENHAGEN NATURSTEINE: Appoints White & Case Administrator
TPL TENNISPARK: Falls into Bankruptcy


I T A L Y

MV AGUSTA: PROTON Sells 57% Stake to GEVI
VOLARE GROUP: Miro Radici Offers to Relaunch Airline


K Y R G Y Z S T A N

INTERMOBI: Creditors' Claims Due Mid-February
LGF TEX: Sets Proofs of Claim Deadline
TESH-MIR SYSTEMS: Gives Creditors Until February to File Claims


P O L A N D

MOSTOSTAL ZABRZE: Fails to Reach Deal with Major Creditor


R U S S I A

BEMOL: Insolvency Manager Takes over Firm
BOGORDSKAYA: Sewing Company Succumbs to Bankruptcy
ISTRINSKOYE: Moscow Court Opens Bankruptcy Proceedings
KRASNYJ GIGANT: Bankruptcy Hearing Set Feb. 16
ONEZHSKIY: Bankruptcy Supervision Procedure Begins

PRISTENSKIY: Bankruptcy Hearing Resumes February
ROAD BUILDING: Saratov Court Brings in Insolvency Manager
SIBERIAN MUSHROOMS: Deadline for Proofs of Claim Jan. 8
TIM-UNIVERSAL-MILK: Declared Insolvent
UTYASHEVO-AGRO-KHIM: Claims Filing Period Ends Jan. 8


U K R A I N E

DONBASOBROBBUD: Under Bankruptcy Supervision
ELEKTROPIVDENMONTAZH-10: Sanction Proceedings Begin
FINANCIAL ALLIANCE: Creditors' Claims Due January 1
INDUSTRY SYSTEMS: Declared Insolvent
MOLODA GVARDIYA: Goes into Liquidation


U N I T E D   K I N G D O M

AGENTS' NETWORK: Hires Administrator from J M Marriott & Co.
BEAUMONT CAPITAL: Liquidator from PKF Enters Firm
BOXWOOD GROUP: Calls in Administrators from Kroll Limited
CADWALLADER HEATING: Creditors Meeting Next Week
CHS BUILDING: Engineering Group Up for Sale

CONTEXT GB: J M Marriott Administrator Enters Firm
DAWSON INTERNATIONAL: Redeeming GBP656,708 of Loan Stock
FOX PARRACK: Advertising Agency Hires Administrator
GENEVE INTERNATIONAL: Appoints Tait Walker Administrator
HCE LIMITED: Business for Sale

HOBBS & SONS: Names Harrisons Liquidator
IT ACCOUNTING: Appoints Menzies Administrator
JACKSONS (PROPERTY AGENTS): Files for Administration
LAKESIDE DOMESTIC: Appliance Retailer Folds up
LONDON CITYLINK: Goes into Liquidation

MARSOM PAVING: Calls in Tenon Recovery Liquidator
MONTANA TEXTILES: Court Okays Petition to Wind up Firm
PROCESSED POLYMERS: Appoints Liquidator from PKF
RANK GROUP: Sells Deluxe Film to DX III Holdings
RANK GROUP: Calls EGM to Tackle Deluxe Film Disposal

RANK GROUP: On Rating Watch Negative
SILVER LADY: Hires Begbies Traynor as Administrator
TOWNSEND QUINN: Appoints Begbies Traynor Administrator
YORKSHIRE COLOURS: Manufacturer Files for Administration


                            *********


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


ALSTOM SA: Shares Deutsche Bahn Supply Contract with Bombardier
---------------------------------------------------------------
Troubled engineering giant Alstom S.A., along with Bombardier,
won a multi-million-euro contract to supply trains to railway
operator Deutsche Bahn AG, AFX News says.

Alstom Transportation LHB and Bombardier Transportation will
supply 78 commuter trains to Deutsche Bahn for EUR343 million
between March 2008 and October 2010.  Alstom's share of the
contract is EUR119 million.

                            *   *   *

Headquartered in 25 Avenue Kleber, 75795 Paris Cedex 16, Alstom
S.A. -- http://www.alstom.com-- is a leading maker of power-
generation systems and constructs power plants, rail equipment,
luxury passenger ships, naval vessels, and natural gas tankers.
Other businesses include electrical drives, motors, and
generators.  The group generates around EUR13 billion in annual
revenue and employs more than 70,000 people worldwide.  As of
March 2005, the group had EUR865 million in net loss and EUR1.4
billion in net debt.

CONTACT:  ALSTOM S.A.
          25 Avenue Kleber
          75795 Paris Cedex 16
          Phone: +33-1-47-55-20-00
          Fax: +33-1-47-55-25-99
          Web site: http://www.alstom.com

          Press relations
          G. Tourvieille/ S. Gagneraud
          Phone: +33 1 41 49 27 13 / 27 40
          E-mail: press@chq.alstom.com

          Investor relations
          E. Chatelain
          Phone: +33 1 41 49 37 38
          E-mail: Investor.relations@chq.alstom.com


FRANCE SOIR: Parent Under Investigation
---------------------------------------
Prosecutors in Paris have launched a preliminary inquiry into
Presse Alliance, parent of bankrupt daily France Soir, Le Figaro
says citing legal sources.

The probe will focus on the 12-month period after 70% owner
Raymond Lakah took over Press Alliance in October 2004.  Reached
for comment, Mr. Lakah said he was not aware of any inquiry.

France Soir declared bankruptcy on Oct. 27 after failing to pay
a EUR6 million debt.  Prior to this, it asked the court to
freeze debt payments, citing insufficient resources, and to
continue publishing.  At the time, the company's assets had
dwindled to EUR350,000.  A few days later, the Commercial Court
in Bobigny placed France Soir in compulsory administration and
imposed a six-month observation period.

Chief Executive Jacques Lefranc hopes to present a rehab plan
before the end of the observation period.  He said management is
also working on ways to secure the future of Presse Alliance.
France Soir posted EUR4 million in losses in the first half and
expects it to double by year's end.  It forecasts EUR20 million
in turnover this year.

CONTACT:  PRESSE ALLIANCE
          45 Avenue Victor Hugo
          93300 Aubervilliers

          FRANCE-SOIR
          45 Avenue Victor Hugo
          93300 Aubervilliers
          Web site: http://www.francesoir.fr


SNCM: Makes Redundancy Voluntary Under New Rehab Plan
-----------------------------------------------------
No employee will be dismissed under the restructuring plan of
ferry operator Societe Nationale Corse Mediterranee (SNCM), Le
Figaro says.

Veolia Transport, SNCM's 28% stakeholder, met Tuesday with union
representatives to discuss the plan.  One union representative
said he did not see any job cuts, but around 400 employees will
be encouraged to retire early or apply for voluntary redundancy.
Temporary contracts will not be renewed, he said, adding the
ferry operator aims to cut payroll by 20%.  Incoming CEO Gerard
Couturier confirmed this.

The government announced tenders for the recapitalization of
SNCM in January of this year after SNCM posted a deficit of
EUR29.7 million in 2004.  It said it could no longer provide the
company direct financial aid because of E.U. competition rules.
In September, it revealed a plan to sell a majority stake in
SNCM without consulting the unions.  The plan, which entails
axing 400 of SNCM's 2,400 employees, triggered a walkout by
workers and sympathy strikes in key ports on France's
Mediterranean coast.  Management had warned it would file for
bankruptcy if a deal was not reached.

The government now plans to create a semi-public company as a
compromise to workers' demand that the state remain majority
owner of SNCM.  According to Les Echos, the government will own
51% of the new company; private ferry operator STEF-TFE will own
the rest.  This company will then acquire 51% of SNCM, along
with other investors under the previous plan.

SNCM operates ex-Corsica ferry services to mainland France and
other Mediterranean destinations.

CONTACT:  SOCIETE NATIONALE MARITIME CORSE-MEDITERRANEE
          Boulevard des Dames 61
          Cedex 02, 13226 Marseilles
          Phone: +33 (4) 91 56 33 63
          Fax: +33 (4) 91 56 34 05
          E-mail: jfrossignol@sncm.fr
          Web site: http://www.sncm.fr


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


BOHMER BAUUNTERNEHMUNG: Aachen Court to Verify Claims March
-----------------------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against Bohmer Bauunternehmung GmbH on December 15.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until January 27,
2006 to register their claims with court-appointed provisional
administrator Johannes Klefisch.

Creditors and other interested parties are encouraged to attend
the meeting on March 7, 2006, 10:30 a.m. at the district court
of Aachen, Augustastrasse 78-80, 52070 Aachen, 2. Etage,
Sitzungssaal 21, 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:  BOHMER BAUUNTERNEHMUNG GmbH
          Lamersdorfer Str. 69, 52159 Roetgen
          Contact:
          Dirk Bohmer, Manager
          Lamersdorfer Str. 69, 52159 Roetgen

          Johannes Klefisch, Administrator
          Rotter Bruch 6, 52068 Aachen


CARL SCHNEIDER: Under Bankruptcy Administration
-----------------------------------------------
The district court of Hof opened bankruptcy proceedings against
Carl Schneider KG on December 9.  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 Petra Wiche-
Wendler.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 2:00 p.m. at the district
court of Hof, Sitzungssaal 012, Erdgeschoss, Berliner Platz 1,
95030 Hof, 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:  CARL SCHNEIDER KG
          Kulmbacher Str. 21 in 95030 Hof

          Petra Wiche-Wendler, Administrator
          Pfarr 1, 95028 Hof
          Phone: 09281/880610
          Fax: 09281/880620


CWK COMPUTERSYSTEME: Creditors' Claims Due Next Month
-----------------------------------------------------
The district court of Mannheim opened bankruptcy proceedings
against CWK Computersysteme & Dienstleistungen GmbH on December
9.  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 Thorsten Konrad.

Creditors and other interested parties are encouraged to attend
the meeting on March 6, 2006, 8:30 a.m. at the district court of
Mannheim, 68149 Mannheim, Schloss, Westfluegel, 2. Stockwerk,
Raum 232, 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:  CWK COMPUTERSYSTEME & DIENSTLEISTUNGEN GmbH
          Contact:
          Martin Denk, Manager
          Lembacher Str. 16-18, 68229 Mannheim

          Thorsten Konrad, Administrator
          Saarburger Ring 10-12, 68229 Mannheim
          Phone: 0621/483240


DOWN UNDER: Hamburg Company Goes Bust
-------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Down Under Tauchsport GmbH on December 8.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until January 20, 2006 to
register their claims with court-appointed provisional
administrator Michael W. Kuleisa.

Creditors and other interested parties are encouraged to attend
the meeting on February 22, 2006, 10:35 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:  DOWN UNDER TAUCHSPORT GmbH
          Weidenallee 6, 20357 Hamburg
          Contact:
          Tomas Piechowaik, Manager

          Michael W. Kuleisa, Administrator
          Speersort 4-6, 20095 Hamburg
          Phone: ss040/303010


FLEISCHMANN GMBH: Claims Filing Period Ends February 14
-------------------------------------------------------
The district court of Coburg opened bankruptcy proceedings
against Fleischmann GmbH on December 15.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until February 14, 2006 to register
their claims with court-appointed provisional administrator
Juergen Wittmann.

Creditors and other interested parties are encouraged to attend
the meeting on March 7, 2006, 8:00 a.m. at the district court of
Coburg, Sitzungssaal I, I. Stock, Nebengebaude, 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:  FLEISCHMANN GmbH
          Am Klostergut 16 a in 96272 Hochstadt a. Main
          Contact:
          Matthias Fleischmann, Manager

          Juergen Wittmann, Administrator
          Adolf-Kolping-Str. 1, 96317 Kronach
          Phone: 09261/62200
          Fax: 09261/622020


FRAZER COFFEE: Creditors to Meet April
--------------------------------------
The district court of Frankfurt am Main opened bankruptcy
proceedings against FRAZER COFFEE GmbH on December 1.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until February 22,
2006 to register their claims with court-appointed provisional
administrator Dr. Holger Lessing.

Creditors and other interested parties are encouraged to attend
the meeting on April 5, 2006, 9:10 a.m. at the district court of
Frankfurt am Main, Saal 2, Gebaude F, Klingerstrasse 20, 60313
Frankfurt am Main, at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report
during this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  FRAZER COFFEE GmbH
          Seegewann 4, 60489 Frankfurt am Main
          Contact:
          Alla Joos, Manager

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


IMMOKONTOR GMBH: Proofs of Claim Due January
--------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against Immokontor GmbH on December 19.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until January 20, 2006 to register their
claims with court-appointed provisional administrator Johannes
Klefisch.

Creditors and other interested parties are encouraged to attend
the meeting on February 14, 2006, 11:00 a.m. at the district
court of Aachen, Augustastrasse 78-80, 52070 Aachen, 2. Etage,
Sitzungssaal 21, 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:  IMMOKONTOR GmbH
          Marienstr. 11, 52249 Eschweiler
          Contact:
          Wilhelm Lehnen, Manager

          Johannes Klefisch, Administrator
          Rotter Bruch 6, 52068 Aachen


INTERTAINMENT AG: Board Tries Negotiation to Avert Bankruptcy
-------------------------------------------------------------
The Supervisory Board and the Board of Management of
Intertainment AG, Munich, failed to reach a decision on whether
to put Intertainment AG into bankruptcy at their joint meeting
on December 23, 2005.  The Supervisory Board carried out
intensive discussions with the Board of Management on the
difficult situation and the imminent threat of insolvency.  The
Supervisory Board recommended that the Board of Management hold
constructive negotiations with all parties immediately in order
to avert insolvency and secure the future of the company as a
going concern.

                        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
          Phone: +49 (0) 89 21699-0
          Fax: +49 (0) 89 21699-11
          E-mail: investor@intertainment.de
          Web site: http://www.intertainment.de


IWKA AG: Sells Remnant of Process Technologies Unit
---------------------------------------------------
Troubled engineering group IWKA has found a buyer for IWKA Balg-
und Kompensatorentechnologie and Flexible Solutions Group,
Borsen Zeitung says.

The two subsidiaries, part of IWKA's former process technologies
division, will be acquired by local private equity firm Odewald
& Compagnie Gesellschaft fur Beteiligungen on January 1, 2006.
The sale is still subject to approval by anti-trust authorities.
IWKA said the sale will cut its net debt significantly next
year.

IWKA closed the first nine months of 2005 with a EUR24.5 million
net loss, in sharp contrast to last year's EUR27 million profit.
Nine-month turnover dropped from EUR1.34 billion to EUR1.32
billion as did EBIT, which dived to EUR14.6 million from EUR56.6
million.

The group attributed the losses to its restructuring program.
Its Ex-Cell-O unit posted EUR20.5 million in losses, forcing
IWKA to carry out write-downs, expecting to sell it below book
value.  IWKA sees net losses for 2005.

CONTACT:  IWKA AKTIENGESELLSCHAFT
          Postfach 3409
          76020 Karlsruhe
          Phone: +49 721 143-330
          Fax: +49 721 143-331
          E-mail: pr@iwka.de
          Web site: http://www.iwka.de

          ODEWALD & COMPAGNIE GESELLSCHAFT FUR BETEILIGUNGEN mbH
          Franzosische Strasse 8
          D-10117 Berlin (Mitte)
          Phone: +49 (0) 30 20 17 23-0
          Fax: +49 (0) 30 20 17 23-60
          E-mail: info@ocie.de
          Web site: http://www.ocie.de


JEFRA BAUSERVICE: Charlottenburg Court to Verify Claims May
-----------------------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against JEFRA Bauservice GmbH on December 14.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 13, 2006
to register their claims with court-appointed provisional
administrator Christoph Rosenmueller.

Creditors and other interested parties are encouraged to attend
the meeting on February 1, 2006, 9:20 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
10, 2006, 9:00 a.m. at the same venue.

CONTACT:  JEFRA BAUSERVICE GmbH
          Streitstr. 86, Block 2,13587 Berlin

          Christoph Rosenmueller, Administrator
          Berliner Str. 117, 10713 Berlin


MCD ART: Nuernberg Business Succumbs to Bankruptcy
--------------------------------------------------
The district court of Nuernberg opened bankruptcy proceedings
against MCD Art Gallery GmbH i.L. on December 12.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until January 18, 2006 to
register their claims with court-appointed provisional
administrator Dr. Helmut Lederer.

Creditors and other interested parties are encouraged to attend
the meeting on February 22, 2006, 9:30 a.m. at the district
court of Nuernberg, Flaschenhofstr. 35, Sitzungssaal 152/I, 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:  MCD ART GALLERY GmbH i.L.
          Contact:
          Teti Selenica, Manager
          Boschring 13, 91161 Hilpoltstein

          Dr. Helmut Lederer, Administrator
          Ostendstr. 100, 90482 Nuernberg
          Phone: 0911/5444880
          Fax: 0911/54448810


MTB MISBURGER: Files for Bankruptcy
-----------------------------------
The district court of Hannover opened bankruptcy proceedings
against MTB Misburger Erd-, Garten- und Landschaftsbau GmbH on
December 9.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
January 31, 2006 to register their claims with court-appointed
provisional administrator Udo Mueller.

Creditors and other interested parties are encouraged to attend
the meeting on February 28, 2006, 9:40 a.m. at the district
court of Hannover, Saal 226, 2. Obergeschoss, Dienstgebaude
Hamburger Allee 26, 30161 Hannover, 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:  MTB MISBURGER ERD-, GARTEN- UND LANDSCHAFTSBAU GmbH
          Zeppelinstr. 4, 30916 Isernhagen
          Contact:
          Peter Kolloczek, Liquidator
          Ludwig-Erhard-Ring 8, 31157 Sarstedt

          Udo Mueller, Administrator
          Georgstr. 50, 30159 Hannover
          Phone: 0511/36698-0
          Fax: 0511/36698-33


PROSIEBENSAT.1 MEDIA: Media Watchdog Sets Takeover Conditions
-------------------------------------------------------------
Media authority Kommission zur Ermittlung der Konzentration im
Medienbereich (KEK) has set several conditions for Axel Springer
Verlag's takeover of ProSiebenSat.1 Media, Borsen Zeitung says.

KEK wants Springer to provide the financial means needed to
ensure plurality of ProSiebenSat.1's program content, regardless
of profitability requirements and market interests.  The
regulator also wants the publishing group to create an advisory
committee representing various sectors of society.

Springer is not happy with the decision and hopes regional media
offices will reject KEK's "stringent conditions."  The group
recently said it will seek approval from Economic Affairs
Minister Michael Glos, if the Cartel Office bars its offer.
Cartel Office chief Ulf Boege, earlier this month, admitted he
is unconvinced of Springer's arguments that the takeover will
not fortify its dominance in the market.

Springer already controls a majority stake in ProsiebenSat.1,
which it acquired for EUR3.5 billion from a group of investors
led by Haim Saban. ProSiebenSat.1 was formed in 2000 with the
merger of Germany's leading broadcasters ProSieben Media AG and
Sat.1.  It is the largest and most successful television
corporation in Germany with four stations -- Sat.1, ProSieben,
kabel eins and N24.

CONTACT:  PROSIEBENSAT.1 MEDIA AG
          Medienallee 7
          85774 Unterfohring
          Phone: +49 (89) 95 07-11 80
          Fax: +49 (89) 95 07-11 84

          AXEL SPRINGER VERLAG AG
          Axel-Springer-Str. 65
          10888 Berlin, Germany
          Phone: +49-30-2591-0
          Web site: http://www.asv.de

          KOMMISSION ZUR ERMITTLUNG DER KONZENTRATION IM
          MEDIENBEREICH (KEK)
          Helene-Lange-Strasse 18 a
          14469 Potsdam
          Phone: +49 (331) 2 00 63 60
          Fax: +49 (331) 2 00 63 70
          E-mail: info@kek-online.de
          Web site: http://www.kek-online.de


TARAK ENTWICKLUNGS: Chemnitz Court Names Pluta Administrator
------------------------------------------------------------
The district court of Chemnitz opened bankruptcy proceedings
against TARAK Entwicklungs-GmbH on December 1.  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 Dr. Stephan Thiemann.

Creditors and other interested parties are encouraged to attend
the meeting on February 28, 2006, 11:15 a.m. at the district
court of Chemnitz, Saal 24, im Gerichtsgebaude Fuerstenstrasse
21, in Chemnitz, at which time the administrator will present
his first report of the insolvency proceedings.  The court will
also verify the claims set out in the administrator's report
during this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  TARAK ENTWICKLUNGS-GmbH
          Contact:
          Reiner Schreier, Manager
          Wildenauer Weg 4, 08340 Schwarzenberg

          Dr. Stephan Thiemann, Administrator
          Pluta Rechtsanwalts GmbH
          Leipziger Str. 62, 09113 Chemnitz
          Web site: http://www.pluta.net


TK-TRANS: Wolff-Rapp Administrator Takes over Helm
--------------------------------------------------
The district court of Dresden opened bankruptcy proceedings
against TK-Trans GmbH on December 1.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors had until December 27, 2005 to register their claims
with court-appointed provisional administrator Olaf Seidel.

Creditors and other interested parties are encouraged to attend
the meeting on January 26, 2006, 11:00 a.m. at the district
court of Dresden, Saal D132, Olbrichtplatz 1, 01099 Dresden, at
which time the administrator will present his first report of
the insolvency proceedings.  The court will also verify the
claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  TK-TRANS GmbH
          Jeschuetzer Strasse 40
          in 02694 Grossdubrau/OT Quatitz

          Olaf Seidel, Administrator
          Wolff-Rapp Rechtsanwalte
          Weisseritzstrasse 3, 01067 Dresden
          Web site: http://www.WORAKO.de


TOCHTENHAGEN NATURSTEINE: Appoints White & Case Administrator
-------------------------------------------------------------
The district court of Dresden opened bankruptcy proceedings
against Tochtenhagen Natursteine GmbH on December 1.
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 Bettina Schmudde.

Creditors and other interested parties are encouraged to attend
the meeting on February 14, 2006, 10:30 a.m. at the district
court of Dresden, Saal D132, Olbrichtplatz 1, 01099 Dresden, at
which time the administrator will present his first report of
the insolvency proceedings.  The court will also verify the
claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee
and or opt to appoint a new insolvency manager.

CONTACT:  TOCHTENHAGEN NATURSTEINE GmbH
          Talstrasse 10 in 01705 Freital

          Bettina Schmudde, Administrator
          White & Case Insolvenz GbR
          Konigstrasse 1, 01097 Dresden
          Web site: http://www.whitecaseinso.de


TPL TENNISPARK: Falls into Bankruptcy
-------------------------------------
The district court of Coburg opened bankruptcy proceedings
against TPL Tennispark Betriebsgesellschaft mbH on December 16.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until January 23,
2006 to register their claims with court-appointed provisional
administrator Rudolf Mark.

Creditors and other interested parties are encouraged to attend
the meeting on February 13, 2006, 2:00 p.m. at the district
court of Coburg, Sitzungssaal I, I. Stock, Nebengebaude, 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:  TPL TENNISPARK BETRIEBSGESELLSCHAFT mbH
          An der Friedenslinde 1 in 96215 Lichtenfels
          Contact:
          Heinrich Fleischmann, Manager
          An der Friedenslinde 1, 96215 Lichtenfels

          Rudolf Mark, Administrator
          Stohrstrasse 17, 96317 Kronach
          Phone: 09261/5080
          Fax: 09261/50830


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


MV AGUSTA: PROTON Sells 57% Stake to GEVI
-----------------------------------------
The Board of Directors of PROTON Holdings Berhad disclosed
Tuesday that its Proton Capital Sdn Bhd (PCSB) unit has agreed
to sell its 57,750,000 Class A shares, representing 57.57% of
the corporate capital of MV Agusta S.p.A., to GEVI S.p.A. for
EUR1.00 only.

The Proposed Disposal was arrived at on a "willing buyer,
willing seller" basis after taking into consideration, the six-
month unaudited financial results for period ended 30 September
2005.  It is consistent with PROTON's strategy of divesting non-
core assets.

MV Agusta is a company organized and existing under the laws of
Italy, with registered office in Schiranna (Varese), Via G.
Macchi n. 144, enrolled with the Register of Enterprises of
Varese, Fiscal Code 02324 190129.  The principal activity of MVA
is the manufacturing and marketing of motorcycles and related
products.

GEVI is an investment holding company organized and existing
under the laws of Italy and having its registered office at Via
Corsica 216, 16128, Genova, Fiscal Code 01600410995.

GEVI will assume these liabilities:

(a) Restructured Frozen Debts amounting to EUR106.94 million,
    and

(b) Working Capital requirements amounting to EUR32.50 million

The Proposed Disposal is not expected to have any effect on the
earnings, net assets, share capital nor shareholdings of PROTON.

Inter alia, the salient terms of the agreement are:

(a) The Purchaser is to open an escrow account with
    Banca Carige S.p.A, Genova, Italy for the sum of
    EUR500,000.00 to secure:

    (i) the timely opening and funding of the Second Escrow
        Account; and

   (ii) subject to the fulfillment of the Conditions Precedents
        and to the performance of the actions set out in the
        agreement, the occurrence of Repayment on the Closing
        Date.

        Should the actions mentioned above are not timely
        complied with by the Purchaser, Proton Capital Sdn Bhd
        shall be entitled to withdraw the money from the First
        Escrow Account and terminate the Agreement.

(b) On or before 18 January 2006, the Purchaser is to open a
    Second Escrow Account with Banca Carige S.p.A. for the sum
    of EUR15.0 million to secure the obligation of the Purchaser
    to subscribe and pay the capital increase in MVA.

The agreement is subject to conditions precedents to be obtained
not later than 15 February 2006.

Inter alia:

(a) adoption by the shareholders at an extraordinary general
    meeting of MVA with the unanimous vote of all shareholders'
    of a resolution allowing the Purchaser to purchase the said
    shares from Proton Capital Sdn Bhd and further subscribe for
    the capital increase in MVA.  And subsequent thereat,
    to approve the amendment to the articles of association of
    MVA;

(b) waiver in writing by other shareholders of MVA of their pre-
    emptive rights in connection with the transfer of shares
    from Proton Capital Sdn Bhd to the Purchaser;

(c) termination of the shareholders' agreement executed on 26
    November 2004;

(d) termination of the shareholders agreement executed on 25
    November 2004;

(e) termination of the service agreement executed on 26 November
    2004;

(f) Husqvarna AB to release Proton Capital Sdn Bhd from all
    obligations as contained in the Husqvarna Augusta Agreement
    executed on 29 October 2004;

(g) delivery to MVA of a letter to be executed by several banks
    (as identified in the Agreement) whereby the Banks declare
    that they fully agree with the exercise of the voting rights
    by Claudio Castiglioni for adoption of the resolution and
    the waiver by Claudio Castiglioni of the pre-emptive rights
    mentioned above;

(h) execution by Proton Capital Sdn Bhd and each of the
    shareholders of MVA and the Banks of an agreement whereby
    they settle and waive their eventual claims vis-a-vis Proton
    Capital Sdn Bhd and they declare to the maximum possible
    extent not to have any claim at any title vis-a-vis Proton
    Capital Sdn Bhd any other entity of Proton Group and the
    directors and statutory auditors of MVA appointed by Proton
    Capital Sdn Bhd and they waive their rights to sue them, for
    any title whatsoever; and

(i) obtaining of antitrust authorization from competent Italian
    authorities.

The original cost of investment for the MVA Shares was EUR70
million for the 57.75% at a pro forma equity value at the date
of investment of EUR121.0 million, pro forma enterprise value at
the date of investment of EUR281.0 million at Sales multiples of
1.6 times.  The Investment Agreement in respect of the
acquisition of MVA Shares by Proton Capital Sdn Bhd was signed
on 7 July 2004 and the Shareholders Agreement was signed on 26
November 2004.

None of the Directors or substantial shareholders or persons
connected to them has any interest, direct or indirect in the
Proposed Disposal.

The Directors of PHB, having considered all aspects of the
Proposed Disposal, and are of the opinion that the Proposed
Disposal is in the best interest of PROTON and its shareholders.

CONTACT:  MV AGUSTA S.p.A.
          Via G. Macchi, 144  (Schiranna)
          21100 Varese, Italy
          E-mail: info@mvagusta.it

          PROTON HOLDINGS BERHAD
          Batu Tiga, 40000 Shah Alam
          Selangor Darul Ehsan
          Malaysia
          Phone: +60 3 5191 1055
          Fax: +60 3 5191 1252


VOLARE GROUP: Miro Radici Offers to Relaunch Airline
----------------------------------------------------
Ailing low-cost carrier Volare Group has received a takeover
offer from Miro Radici Textile & Energy (MRTE), Agenzia
Giornalistica Italia says.

MRTE offered to inject EUR33 million into Volare over 12 to 18
months, with an aim to relaunch the troubled carrier.  MRTE also
offered to keep Volare's workforce of more than 200 people and
rehire laid off personnel over the next 18 months.

The textile and energy group also plans to open 12 slots at
Milan Linate Airport for local flights to the south and
international flights to Barcelona and Paris Orly.  MRTE also
plans to refurbish Volare's terminal at Milan Malpensa Airport
to accommodate European and intercontinental flights.  MRTE also
intends to launch exclusive routes to Mauritius, Havana and the
Seychelles.

MRTE aims to increase Volare's load factor by 65% in the first
year under the supervision of Antonello Isabella, Air Europe's
founder and managing director; and Andrea Molinari.

TCR-Europe said in August 10, 2005 that Volare is looking for a
possible buyer to improve its operational capacity.  Volare
needs fresh capital to expand its fleet.  The group is also
aiming for a strategic partnership with another airline to
ensure it has enough planes to cover all flight slots.

Volare declared insolvency on Nov. 22, 2004, citing huge debt
and heavy losses.  The group then underwent extraordinary
administration, which allowed it to be protected from creditors
while resuming daily operations.  Volare emerged from
administration in spring, after beating its EUR7 million revenue
forecast by around EUR3.8 million.

CONTACT:  VOLARE GROUP S.p.A.
          Via Pirelli, 20
          20124 Milan
          Phone: (+39) 02 673 631
          Fax: (+39) 02 673 630 90
          Web site: http://www.volare-group.it

          MIRO RADICI TEXTILE & ENERGY
          Rovetta (BG)
          Localita Vogno
          Web site: http://www.miroradicitextileenergy.com


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


INTERMOBI: Creditors' Claims Due Mid-February
---------------------------------------------
LLC Intermobi, which recently became insolvent, will accept
proofs of claim at Bishkek, Srednaya Str. 185 until February 16,
2006.  Call (0-312) 69-77-10 for more information.


LGF TEX: Sets Proofs of Claim Deadline
--------------------------------------
LLC LGF Tex Fabric, which recently became insolvent, will accept
proofs of claim at Bishkek, Kokchetavskaya Str. 148 until
February 16, 2006.


TESH-MIR SYSTEMS: Gives Creditors Until February to File Claims
---------------------------------------------------------------
LLC Tesh-Mir Systems, which recently became insolvent, will
accept proofs of claim at Bishkek, Fere Str. 112 until February
16, 2006.


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


MOSTOSTAL ZABRZE: Fails to Reach Deal with Major Creditor
---------------------------------------------------------
Ateliers Vlassenroot B.V., one of Mostostal Zabrze Holding's
major creditors, has filed a complaint against the company after
failing to seal an agreement with it, Polish News Bulletin says.

The Belgian firm had given Mostostal to accept its offer to
write off PLN30 million of Mostostal's debt in exchange for the
latter's steel-element subsidiary ZPK.  The offer included a
PLN7.5 million cash payment for ZPK, real properties in Gliwice
and Zabre, and manufacturing equipment.  It had also offered to
inject the company with PLN5 million in fresh capital.

The report did not indicate the nature of the complaint and
where it is pending.

CONTACT:  MOSTOSTAL ZABRZE HOLDING S.A.
          41-800 Zabrze,
          ul. Wolnos'ci 191
          Phone: +48 (0 32) 271 32 21
                 +48 (0 32) 373 44 44
          Fax: +48 (0 32) 271 50 47
               +48 (0 32) 271 19 21
               +48 (0 32) 271 26 49
               +48 (0 32) 271 80 01
          E-mail: post@mz.pl
          Web site: http://www.mostostal.zabrze.pl

          ATELIERS VLASSENROOT B.V.
          Noordkustlaan 14 1702 Groot-Bijgaarden
          Belgium
          Phone: +32 24 67 62 11
          Fax: +32 24 66 19 26


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


BEMOL: Insolvency Manager Takes over Firm
-----------------------------------------
The Arbitration Court of Perm region has commenced bankruptcy
supervision procedure on close joint stock company Bemol.  The
case is docketed as A50-36437/2005-B.  Mr. A. Boltrushevich has
been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 618400, Russia,
Perm region, Berezniki, UFPS, Post User Box 1628.  A hearing
will take place on March 3, 2006.

CONTACT:  BEMOL
          618400, Russia, Perm region,
          Berezniki, Metallistov Str. 10

          A. BOLTRUSHEVICH
          Temporary Insolvency Manager
          618400, Russia, Perm region,
          Berezniki, UFPS, Post User Box 1628


BOGORDSKAYA: Sewing Company Succumbs to Bankruptcy
--------------------------------------------------
The Arbitration Court of Nizhniy Novgorod region commenced
bankruptcy proceedings against Bogordskaya after finding the
sewing company insolvent.  The case is docketed as A43-9810/03-
33-100.  Ms. E. Korostyleva has been appointed insolvency
manager.

Creditors have until January 8, 2006 to submit their proofs of
claim to:

(a) BOGORDSKAYA SEWING FACTORY #8
    607600, Russia, Nizhniy Novgorod region,
     Bogorodsk, Pravdy Str. 10

(b) INSOLVENCY MANAGER
    603086, Russia, Nizhniy Novgorod region,
    Sovnarkomovskaya Str. 36-10

(c) ARBITRATION COURT OF NIZHNIY NOVGOROD REGION
    603082, Russia, Nizhniy Novgorod region,
    Kremlin, Building 9


ISTRINSKOYE: Moscow Court Opens Bankruptcy Proceedings
------------------------------------------------------
The Arbitration Court of Moscow region commenced bankruptcy
proceedings against Istrinskoye (TIN 5018053345) after finding
the construction company insolvent.  The case is docketed as
A41-K-2-6880/05.  Mr. E. Vrubel has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 105037, Russia, Moscow, 2nd Pryadilnaya Str.
3, Building 1, Apartment 6.

CONTACT:  ISTRINSKOYE
          Russia, Moscow region,
          Istra, Severnyj

          E. VRUBEL
          Insolvency Manager
          105037, Russia, Moscow region,
          2nd Pryadilnaya Str. 3, Building 1, Apartment 6


KRASNYJ GIGANT: Bankruptcy Hearing Set Feb. 16
----------------------------------------------
The Arbitration Court of Penza region has commenced bankruptcy
supervision procedure on federal state unitary enterprise
Krasnyj Gigant.  The case is docketed as A49-6422/2005-114b/10.
Mr. O. Probeygolov has been appointed temporary insolvency
manager.

Creditors may submit their proofs of claim to 442680, Russia,
Penza region, Nikolsk, Komsomolskaya Str. 27.  A hearing will
take place on February 16, 2006, 11:30 a.m. at the Arbitration
Court of Penza region.

CONTACT:  KRASNYJ GIGANT
          442680, Russia, Penza region,
          Nikolsk, Komsomolskaya Str. 27

          O. PROBEYGOLOV
          Temporary Insolvency Manager
          442680, Russia, Penza region,
          Nikolsk, Komsomolskaya Str. 27


ONEZHSKIY: Bankruptcy Supervision Procedure Begins
--------------------------------------------------
The Arbitration Court of Kareliya republic has commenced
bankruptcy supervision procedure on open joint stock company
Onezhskiy.  The case is docketed as A26-7111/2005-183.  Mr. V.
Krepyakov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 190103, Russia, St
Petersburg, Obvodnogo Kanala Quay, 181.  A hearing will take
place on February 22, 2006, 2:10 p.m. at Russia, Petrozavodsk,
Krasnoarmeyskaya Str. 24a, Hall #1.

CONTACT:  ONEZHSKIY
          185000, Russia, Kareliya republic,
          Petrozavodsk, Kalinina Str. 1

          V. KREPYAKOV
          Temporary Insolvency Manager
          190103, Russia, St-Petersburg,
          Obvodnogo Kanala Quay, 181


PRISTENSKIY: Bankruptcy Hearing Resumes February
------------------------------------------------
The Arbitration Court of Kursk region has commenced bankruptcy
supervision procedure on butter factory Pristenskiy.  The case
is docketed as A-35-5322/05 "g".  Mr. N. Krasilnikov has been
appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 305000, Russia,
Kursk region, Main Post Office.  A hearing will take place on
February 1, 2006, 11:40 a.m.

CONTACT:  PRISTENSKIY
          Russia, Kursk region, Pristenskiy region,
          Pristen, Vostochnaya Str. 38

          N. KRASILNIKOV
          Temporary Insolvency Manager
          305000, Russia, Kursk region,
          Main Post Office


ROAD BUILDING: Saratov Court Brings in Insolvency Manager
---------------------------------------------------------
The Arbitration Court of Saratov region has commenced bankruptcy
supervision procedure on limited liability company Road Building
Enterprise 100.  The case is docketed as A57-59B/05-23.  Mr. T.
Yalynycheva has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to 410076, Russia,
Saratov, Post User Box 2493.

CONTACT:  ROAD BUILDING ENTERPRISE 100
          410000, Russia, Saratov region,
          Kutyakova Str. 20

          T. YALYNYCHEVA
          Temporary Insolvency Manager
          410076, Russia, Saratov region,
          Post User Box 2493


SIBERIAN MUSHROOMS: Deadline for Proofs of Claim Jan. 8
-------------------------------------------------------
The Arbitration Court of Krasnoyarsk region commenced bankruptcy
proceedings against Siberian Mushrooms after finding the limited
liability company insolvent.  The case is docketed as A33-
21715/2005.  Mr. V. Shmanay has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 660017, Russia, Krasnoyarsk, Post User Box
20647.

CONTACT:  SIBERIAN MUSHROOMS
          660049, Russia, Krasnoyarsk region,
          Lebedevoy-Oborony Str. 101/5

          V. SHMANAY
          Insolvency Manager
          660017, Russia, Krasnoyarsk region,
          Post User Box 20647


TIM-UNIVERSAL-MILK: Declared Insolvent
--------------------------------------
The Arbitration Court of Kursk region commenced bankruptcy
proceedings against Tim-Universal-Milk after finding the open
joint stock company insolvent.  The case is docketed as A35-
8887/05 "g".  Mr. A. Zabornyj has been appointed insolvency
manager.

CONTACT:  A. ZABORNYJ
          Insolvency Manager
          305000, Russia, Kursk region,
          Stepana Razina Str. 9B


UTYASHEVO-AGRO-KHIM: Claims Filing Period Ends Jan. 8
-----------------------------------------------------
The Arbitration Court of Tyumen region commenced bankruptcy
proceedings against Utyashevo-Agro-Khim after finding the open
joint stock company insolvent.  The case is docketed as A70-
1883/3-2005.  Mr. V. Vinogradov has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 644065, Russia, Omsk region, 50 Let
Profsoyuzov Str. 61.

CONTACT:  UTYASHEVO-AGRO-KHIM
          625017, Russia, Tyumen region,
          Avtoremontnaya Str. 47

          V. VINOGRADOV
          Insolvency Manager
          644065, Russia, Omsk region,
          50 Let Profsoyuzov Str. 61


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


DONBASOBROBBUD: Under Bankruptcy Supervision
--------------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
supervision procedure on State Enterprise Specialized Building
Department Donbasobrobbud (code EDRPOU 01236621) on July 15,
2005.  The case is docketed as 15/130 B.  Mr. Vyacheslav
Solovyov (License Number 216800) has been appointed temporary
insolvency manager.

Creditors have until January 1, 2006 to submit their proofs of
claim to:

(a) DONBASOBROBBUD
    83086, Ukraine, Donetsk region,
    Artema Str. 45

(b) VYACHESLAV SOLOVYOV
    Temporary Insolvency Manager
    84333, Ukraine, Donetsk region,
    Kramatorsk, Kramatorskij Boulevard 15/393

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


ELEKTROPIVDENMONTAZH-10: Sanction Proceedings Begin
---------------------------------------------------
The Economic Court of Zaporizhya region has launched sanction
proceedings against JSCCT Elektropivdenmontazh-10 (code EDRPOU
00121844).  The case is docketed as 25/234.  Mr. Burnos Igor has
been appointed sanction manager.  The company holds account
number 260010017 at OJSC Bank Big-Energy, Energodar branch, MFO
313764.

Creditors have until January 1, 2006 to submit their proofs of
claim to:

(a) ELEKTROPIVDENMONTAZH-10
    71530, Ukraine, Zaporizhya region,
    Energodar, Promislova Str. 46-E, a/b 7

(b) BURNOS IGOR
    Sanction Manager
    71503, Ukraine, Zaporizhya region,
    Energodar, Promislova Str. 46-E, a/b 7

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


FINANCIAL ALLIANCE: Creditors' Claims Due January 1
---------------------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Financial Alliance (code EDRPOU 32384726) on
October 19, 2005 after finding the limited liability company
insolvent.  The case is docketed as 15/727-b.  Private
enterprise Skver (code EDRPOU 24721106) has been appointed
liquidator.

Creditors have until January 1, 2006 to submit their proofs of
claim to:

(a) FINANCIAL ALLIANCE
    04128, Ukraine, Kyiv region,
    Tupolyev Str. 17

(b) SKVER
    Liquidator/Insolvency Manager
    03115, Ukraine, Kyiv region,
    Svyatoshinska Str. 20

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


INDUSTRY SYSTEMS: Declared Insolvent
------------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against Industry Systems (code EDRPOU 32374744) on
October 19, 2005 after finding the limited liability company
insolvent.  The case is docketed as 15/725-b.  Private
enterprise Skver (code EDRPOU 24721106) has been appointed
liquidator.

Creditors have until January 1, 2006 to submit their proofs of
claim to:

(a) INDUSTRY SYSTEMS
    03187, Ukraine, Kyiv region,
    Zabolotnij Str. 2

(b) SKVER
    Liquidator/Insolvency Manager
    03115, Ukraine, Kyiv region,
    Svyatoshinska Str. 20

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


MOLODA GVARDIYA: Goes into Liquidation
--------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
proceedings against Moloda Gvardiya (code EDRPOU 00854096) on
November 2, 2005 after finding the limited liability company
insolvent.  The case is docketed as 2-8/5039-2005.  Mr.
Oleksandr Zolotavin has been appointed liquidator/insolvency
manager.

Creditors have until January 1, 2006 to submit their proofs of
claim to:

(a) MOLODA GVARDIYA
    Ukraine, AR Krym region,
    Dzhankoj district, Svitle, Lenin Str. 22

(b) OLEKSANDR ZOLOTAVIN
    Liquidator/Insolvency Manager
    95023, Ukraine, AR Krym region,
    Simferopol, L. Shevtsova Str. 33

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


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


AGENTS' NETWORK: Hires Administrator from J M Marriott & Co.
------------------------------------------------------------
Jonathan M. Timmis (IP No 8933) of J. M. Marriott & Co. was
appointed administrator of The Agents' Network Limited (Company
No 04833706) on Dec. 16.  The company specializes in corporate
promotions.

CONTACT:  J M MARRIOTT & CO.
          12 Sun Street
          Lancaster
          Lancashire LA1 1EW
          Phone: 01524 845611
          Fax: 01524 845612
          E-mail: jmt@jmmarriott.co.uk


BEAUMONT CAPITAL: Liquidator from PKF Enters Firm
-------------------------------------------------
M. Templeman, director of Beaumont Capital Management Limited,
informs that the special resolution to wind up the company was
passed at an EGM held on Dec. 12 at 31 Gresham Street, London
EC2V 7QA.  David S. Merrygold and Brian J. Hamblin of PKF (UK)
LLP were appointed liquidator.

Creditors are required on or before January 31, 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 David S. Merrygold of PKF (UK) LLP,
16 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.

CONTACT:  PKF
          16 The Havens
          Ransomes Europark
          Ipswich, Suffolk IP3 9SJ
          Phone: 01473 320700
          Fax: 01473 320800
          E-mail: david.merrygold@uk.pkf.com


BOXWOOD GROUP: Calls in Administrators from Kroll Limited
---------------------------------------------------------
Robert Edward Hendry Maxwell and Stuart Charles Edward Mackellar
(IP Nos 1357 and 6883) of Kroll Limited were appointed
administrators of Boxwood Group Limited (Company No 03568965) on
Dec. 15.  Its registered office is at Boston House, 214 High
Street, Boston Spa, West Yorkshire LS23 6AB.

Boxwood Group Limited -- http://www.boxwoodgroup.com/-- offers
business improvement solutions.

CONTACT:  BOXWOOD GROUP LTD.
          1200 Century Way
          Thorpe Park
          Leeds LS15 8ZB
          West Yorkshire
          Phone: 0113 251 5111
          Fax: 0113 251 5555
          E-mail: info@boxwoodgroup.com

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


CADWALLADER HEATING: Creditors Meeting Next Week
------------------------------------------------
Creditors of Cadwallader Heating And Plumbing Limited (Company
No 3903577) will meet on January 4, 2006, 11:30 a.m. at Begbies
Traynor, No 1 Old Hall Street.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to D. Moore, joint administrator of Begbies Traynor,
No 1 Old Hall Street, Liverpool L3 9HF not later than 12:00
noon, January 3, 2006.

CONTACT:  CADWALLADER HEATING & PLUMBING LTD.
          39 Seaforth Rd
          Liverpool L21 3TX
          Phone: 0151-286 2100

          BEGBIES TRAYNOR
          No. 1 Old Hall Street,
          Liverpool L3 9HF
          Phone: 0151 227 4010
          Fax:   0151 227 4009
          Web site: http://www.begbies.com


CHS BUILDING: Engineering Group Up for Sale
-------------------------------------------
The Leicester County Court issued a winding-up order against CHS
Building Services Limited on Dec. 13, 2005.  The winding-up
petition was filed Oct. 20.

Founded in 1978, CHS specializes in the design and installation
of mechanical engineering services and has active clients from
private industry, public entities, defense and military
installations, hotels, commercial and recreational facilities.

CHS also provides design and build services to the semiconductor
industry, pharmaceutical and specialty food products industries
across the U.K. and Europe.

CONTACT:  CHS BUILDING SERVICES LIMITED
          Clumber House
          Newark Road
          Lincoln LN5 8PY
          Phone: + 44 (0) 1522 535753
          Fax: + 44 (0) 1522 536370
          E-mail: headoffice@chs-limited.com
          Web site: http://www.chs-limited.com


CONTEXT GB: J M Marriott Administrator Enters Firm
--------------------------------------------------
Jonathan M. Timmis (IP No 8933) of J M Marriott & Co was
appointed administrator of Context GB Limited (Company No
03513315) on Dec. 16.

CONTACT:  CONTEXT G B LTD.
          Lin Crag Barn,
          Ulverston, Cumbria LA12 8EH
          Phone: 01229-885343

          J M MARRIOTT & CO.
          12 Sun Street
          Lancaster
          Lancashire LA1 1EW
          Phone: 01524 845611
          Fax: 01524 845612
          E-mail: jmt@jmmarriott.co.uk


DAWSON INTERNATIONAL: Redeeming GBP656,708 of Loan Stock
--------------------------------------------------------
Following Dawson International plc's announcement on 8 December
2005 of its intention to redeem the outstanding balance of its
zero coupon, convertible, secured, redeemable loan stock 2009,
the Company will be redeeming GBP656,708 of Loan Stock plus
premium.

On 28 December 2005, the Company resolved to allot 41,601,400
Ordinary Shares of one pence each in the share capital of the
Company to holders of the Loan Stock.  The allotment of Ordinary
Shares was pursuant to notices of conversion received from the
holders of Loan Stock exercising their right under the
conditions of the Loan Stock to convert each GBP0.05 of Loan
Stock into one Ordinary Share rather than accept redemption.
Application has been made to the London Stock Exchange for these
shares to be quoted on AIM and it is expected that dealings will
commence on 4 January 2006.

As a result of the conversion and redemption, GBP2,736,778 units
of Loan Stock will be cancelled.

Chairman and Chief Executive Mike Hartley said: "The issue of
the Loan Stock was an important step in the refinancing of the
business.  The Board appreciates the confidence shown in the
Group by the investors at that time and is delighted to have
vindicated this confidence by redeeming the final tranche of the
loan stock at the earliest possible opportunity.  I regard the
high level of conversion by Loan Stock holders into ordinary
equity as an indication of their belief in the long-term value
of Dawson shares.

"The Group is now much better resourced to continue development
of its existing businesses whilst seeking additional acquisition
opportunities.  Thus Dawson International enters a new phase of
building shareholder value.  At this key transitional moment, I
would like to recognize the efforts of all the management and
staff in the Group whose endeavors made this turnaround
possible."

CONTACT:  DAWSON INTERNATIONAL PLC
          Lochleven Mills
          Kinross
          KY13 8GL, United Kingdom
          Phone: +44-1577-867000
          Fax: +44-1577-867010
          Web site: http://www.dawson-international.co.uk


FOX PARRACK: Advertising Agency Hires Administrator
---------------------------------------------------
Filippa Connor (IP No 9188) of B & C Associates was appointed
administrator of advertising agency Fox Parrack Hirsch Limited
(Company No 01640981) on Dec. 12.  Its registered office is at
the 2nd Floor, 167-169 Great Portland Street, London W1W 5PF.

CONTACT:  FOX PARRACK HIRSCH COMMUNICATIONS
          Threeways House,
          40/44 Clipstone Street,
          London W1W 5DW
          Phone: +44 (0) 20 7436 4336
          E-mail: tparrack@fphcom.com
          Web site: http://www.foxps.com/

          B & C ASSOCIATES
          Trafalgar House
          Grenville Place
          Mill Hill
          London NW7 3SA
          Phone: 0208 906 7730
          Fax: 0208 906 7731
          E-mail: filippa@bcassociates.uk.com


GENEVE INTERNATIONAL: Appoints Tait Walker Administrator
--------------------------------------------------------
Allan David Kelly and Gordon Smythe Goldie (IP Nos 9156, 5799)
of Tait Walker were appointed administrators of Geneve
International Limited (Company No 02026988) on Dec. 1.

CONTACT:  GENEVE INTERNATIONAL LTD.
          Unit 9a,
          North Tyne Industrial Estate,
          Newcastle Upon Tyne,
          Tyne & Wear NE12 9SZ
          Phone: 01912159911

          TAIT WALKER
          Bulman House,
          Regent Centre, Gosforth,
          Newcastle upon Tyne NE3 3LS
          Phone: 0191 285 0321
          Fax:   0191 284 9117
          E-mail: advice@taitwalker.co.uk
          Web site: http://www.taitwalker.co.uk


HCE LIMITED: Business for Sale
------------------------------
The Joint Administrators, Robert Birchall and Mike Jervis, offer
for sale the business and assets of HCE Limited, a leading non-
food supplier to the catering industry.

Features:

(a) Strong brand name and reputation;

(b) "One-stop-shop" for design, installation and service;

(c) Established for over 20 years;

(d) Holds a number of prestige contracts; and

(e) Owns a 4,500 sq. ft. showroom

CONTACT:  PRICEWATERHOUSECOOPERS LLP
          9 Greyfriars Road
          Reading RG1 1JG
          Phone: [44] (118) 959 7111
          Fax: [44] (118) 960 7700
          Web site: http://www.pwcglobal.com
          Contact:
          David Bennett
          Phone: 07971 645 939
          E-mail: david.j.bennett@uk.pwc.com


HOBBS & SONS: Names Harrisons Liquidator
----------------------------------------
W. Hobbs, chairman of Hobbs & Sons Limited, informs that the
special resolution to wind up the company was passed at an EGM
held on Dec. 1 at Station Road, Henley on Thames, Oxfordshire.
Douglas Paul Glenn Walker 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


IT ACCOUNTING: Appoints Menzies Administrator
---------------------------------------------
Jason James Godefroy and Paul John Clark (IP Nos 9097, 8570) of
Menzies Corporate Restructuring were appointed administrators of
IT Accounting Online Limited (Company No 03441161) on Dec. 13.

CONTACT:  MENZIES CORPORATE RESTRUCTURING
          43/45 Portman Square
          London W1H 6LY
          Phone: 020 7487 7240


JACKSONS (PROPERTY AGENTS): Files for Administration
----------------------------------------------------
R. D. Smailes and S. B. Ryman (IP Nos 8975, 4731) of Rothman
Pantall & Co. were appointed administrators of Jacksons
(Property Agents) Limited (Company No 04344013) on Dec. 6.  Its
registered office is at Carlton House, 101 New London Road,
Chelmsford, Essex CM2 0PP.

CONTACT:  JACKSONS PROPERTY AGENTS LTD.
          115 Balham High Road
          Balham
          Greater London SW12 9AP
          Phone: 0208 675 6565

          ROTHMAN PANTALL & CO
          Clareville House,
          26-27 Oxendon Street,
          London SW1Y 4EP
          Phone: +44 (0) 20 7930 7272
          Fax: +44 (0) 20 7930 9849
          E-mail: london@rothman-pantall.co.uk
          Web site: http://www.rothman-pantall.co.uk


LAKESIDE DOMESTIC: Appliance Retailer Folds up
----------------------------------------------
The High Court of Justice issued a winding-up order against
Lakeside Domestic Appliances Limited on Dec. 14, 2005.  The
winding-up petition was filed Oct. 25.

CONTACT:  LAKESIDE DOMESTIC APPLIANCES LIMITED
          120 Greyhound Lane
          London SW16 5RN
          Phone: 020 83554938

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


LONDON CITYLINK: Goes into Liquidation
--------------------------------------
The High Court of Justice issued a winding-up order against
London Citylink Limited and London Citylink Secretaries Limited
on Dec. 13, 2005.  The winding-up petition was filed Aug. 3.

CONTACT:  LONDON CITYLINK LIMITED/
          LONDON CITYLINK SECRETARIES LIMITED
          Thrale House, 2nd Floor West
          44-46 Southwark Street
          London SE1 1UN
          Phone: +44 (20) 7234 5920
          Fax: +44 (20) 7015 9160
          E-mail: tw@londoncitylink.com

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


MARSOM PAVING: Calls in Tenon Recovery Liquidator
-------------------------------------------------
Carl Stuart Jackson and Duncan Robert Beat (IP Nos 8860, 8161)
of Tenon Recovery were appointed administrators of Marsom Paving
& Landscapes Limited (Company No 3596178) on Dec. 12.

CONTACT:  MARSOM PAVING & LANDSCAPES LTD.
          Unit 10 Charfleets Est,
          Runwood Road, Canvey Island,
          Essex SS8 0PL
          Phone: 01268682600

          TENON RECOVERY
          Highfield Court, Tollgate, Chandlers Ford,
          Eastleigh, Hampshire SO53 3TZ
          Phone: 023 8064 6464
          Fax: 023 8064 6666
          E-mail: southampton@tenongroup.com
          Web site: http://www.tenongroup.com


MONTANA TEXTILES: Court Okays Petition to Wind up Firm
------------------------------------------------------
The High Court of Justice issued a winding-up order against
Montana Textiles Ltd. on Dec. 14, 2005.  The winding-up petition
was filed Oct. 21.

CONTACT:  MONTANA TEXTILES LTD.
          Unit 10 Omega Wks,
          Hermitage Rd.
          London N4 1NA
          Phone: 02088096600

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


PROCESSED POLYMERS: Appoints Liquidator from PKF
------------------------------------------------
Anne Buchanan (IP No 1458) of PKF (UK) LLP was appointed
administrator of Processed Polymers Limited (Company No
04712795) on Dec. 16.  Its registered office is at First Floor,
59-61 High Street West, Glossop, Derbyshire SK13 8AZ.

CONTACT:  PROCESSED POLYMERS LTD.
          First Floor
          59-61 High Street West
          Glossop
          Derbyshire SK13 8AZ
          United Kingdom
          Phone: +44 (0) 1457 857576
          Fax: +44 (0) 1457 862207
          E-mail: sales@processedpolymers.com
          Web site: http://www.processedpolymers.com/

          PKF
          78 Carlton Place
          Glasgow G5 9TH
          Phone: 0141 4295900
          Fax: 0141 4295901
          E-mail: info.glasgow@uk.pkf.com
          Web site: http://www.pkf.co.uk


RANK GROUP: Sells Deluxe Film to DX III Holdings
------------------------------------------------
The Rank Group Plc has reached agreement to sell Deluxe Film,
the film processing and creative services business to DX III
Holdings Corporation, a subsidiary of MacAndrews & Forbes
Holdings Inc.   Proceeds will be used initially to reduce
general corporate borrowings.  It is expected that no material
tax cost will arise from the Disposal.

Highlights:

(a) aggregate consideration of US$750 million (equivalent to
    approximately GBP430 million) payable in cash, on a debt and
    cash free basis;

(b) the Company's capital structure and dividend policy are
    currently under review.  The outcome of that review will
    accompany Rank's 2005 preliminary results announcement on 3
    March 2006 at which time Rank expects to announce a return
    of capital to shareholders;

(c) there is no change to the expected level of the final
    dividend for the financial year to 31 December 2005;

(d) the Disposal is conditional upon obtaining clearances from
    U.S., Canadian and Spanish anti-trust authorities and the
    approval of Rank shareholders at an Extraordinary General
    Meeting to be held on Monday, 16 January 2006; and

(e) the Disposal is expected to complete in early 2006.

Mike Smith, chief executive of Rank, said: "The announcement of
the sale of Deluxe Film represents an important stage in the
strategic evolution of The Rank Group.  Rank will now
concentrate on the growth opportunities in its gaming businesses
and in Hard Rock.  Our immediate priorities are the disposal of
Deluxe Media Services and the completion of a review to
establish an appropriate capital structure and dividend policy
for the continuing group.  We expect that this process will
result in a return of capital to shareholders.  We will announce
the outcome of the review on 3 March 2006 when we present Rank's
2005 preliminary results."

Goldman Sachs International is acting as exclusive financial
adviser to Rank on the disposal of Deluxe Film.

Background to and Reasons for the Disposal

The Deluxe businesses, Deluxe Film and Deluxe Media Services,
have been important parts of Rank, but in recent years the
Company has acknowledged that they were the "least best fit."
Against the background of the anticipated deregulation of U.K.
gaming laws and further opportunities for the Hard Rock brand,
the Board decided in September 2004 that, in principle, it was
an opportune time to separate both Deluxe Film and Deluxe Media
from the rest of Rank.

The announcement of the Disposal follows an exhaustive sale
process.

The Board remains convinced that the sale of Deluxe Film is in
the best long-term interests of the Company, although the
Disposal is expected to dilute Rank's future earnings per share.
The sale of Deluxe Media remains a priority for the Company.

Capital Structure and Dividend Policy

Rank is conducting a review of its capital structure and
dividend policy with a view to putting in place an efficient
capital structure for the ongoing group.   Key factors in
concluding this review are: the finalization of the net proceeds
of the sale of Deluxe Film (principally in relation to any
working capital adjustment); the costs of restructuring the
Company's borrowings; the conclusion of discussions with Rank's
Pension Trustee and the Pension Regulator; progress in relation
to the sale of Deluxe Media; and the determination of the
financial capacity needed to support the Company's future
growth.  Rank intends to present the results of this review,
including an expected return of capital to shareholders, at the
time of its preliminary results announcement on 3 March
2006.

There is no change to the expected level of the final dividend
for the financial year to 31 December 2005.

Information on Deluxe Film

Deluxe Film is one of the world's leading suppliers of products
and services to the motion picture industry.  Deluxe Film's
activities are organized into two complementary activities, film
processing and creative services.

For the year ended 31 December 2004, the financial statements of
Deluxe Film were prepared under U.K. GAAP.  In this year, Deluxe
Film generated profits before interest and taxation of GBP52.9
million on sales of GBP366.0 million.  As at 31 December 2004,
Deluxe Film had net assets of GBP277.3 million, net of
intercompany payables of GBP111.6 million and gross assets of
GBP571.5 million.  The unaudited results of Deluxe Film for the
six months ended 30 June 2005 were prepared under IFRS.  In this
period, Deluxe Film generated profits before financing costs and
taxation of GBP30.2 million on sales of GBP201.7 million.  As at
30 June 2005, Deluxe Film had net assets of GBP348.2 million,
net of intercompany payables of GBP145.3 million and gross
assets of GBP605.3 million.

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

          MACANDREWS & FORBES HOLDINGS INC.
          35 E. 62nd St.
          New York, NY 10021
          Phone: 212-688-9000
          Fax: 212-572-8400

          GOLDMAN SACHS INTERNATIONAL
          Phone: +44(0) 20 7774 1000
          Nick Reid
          Nick Harper

          MAITLAND (Press Enquiries)
          Phone: +44(0) 20 7379 5151
          Angus Maitland
          Phone: +44(0) 7785 268283
          Annabel Tuck
          Phone: +44(0) 7932 774335


RANK GROUP: Calls EGM to Tackle Deluxe Film Disposal
----------------------------------------------------
Rank Group plc has posted to its shareholders a circular
regarding the proposed disposal of Deluxe Film to DX III
Holdings Corporation, a subsidiary of MacAndrews & Forbes
Holdings Inc., announced on 23 December 2005.

The circular contains a notice convening an Extraordinary
General Meeting of shareholders at 10:00 a.m. on Monday, 16
January 2006 at which approval for the proposed disposal will be
sought.

Copies of the circular have been submitted to the U.K. Listing
Authority and will shortly be available for inspection at the
U.K. Listing Authority's Document Viewing Facility, which is
situated at The Financial Services Authority, 25 The North
Colonnade, Canary Wharf, London E14 5HS (telephone number 020
7676 1000), during normal business hours on any weekday (public
holidays excepted).

                            *   *   *

Rank Group has revealed that since the half-year, the company's
trading performance has followed similar trends to those
witnessed in the first half.  Revenues are up year-on-year, but
operating costs are higher and sportsbook margins remain weak.
As a consequence, the company expects adjusted profit before tax
for continuing operations to be slightly lower than in 2004.

In October, Standard & Poor's Ratings Services placed its 'BBB-'
long-term and 'A-3' short-term corporate credit ratings on Rank
Group on CreditWatch with negative implications.  The
CreditWatch placement reflects Rank's continued intention to
sell its Deluxe film processing and media services unit.  It
follows weak first-half 2005 results, a situation that increases
the probability of a more aggressive financial profile if Deluxe
is sold, and Standard & Poor's expectation that the company will
return funds to shareholders if the sale is completed.

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


RANK GROUP: On Rating Watch Negative
------------------------------------
Fitch Ratings has placed The Rank Group plc's (Rank) Senior
Unsecured 'BB+' rating on Rating Watch Negative.  The Short-term
rating is affirmed at 'B'.

Fitch's rating action follows the announcement of the disposal
of its film processing business, Deluxe Film, subject to
regulatory and shareholder approval, for GBP430 million and a
potential return of capital to shareholders to be announced in
conjunction with its 2005 preliminary results in March 2006.

Olivier de Combarieu, director within Fitch's corporate team,
said: "If the transaction is completed, Rank will not only lose
an element of cash flow diversification but could also move
towards a more leveraged capital structure."

Fitch expects to resolve the Rating Watch status once the
disposal is completed and the return of cash to shareholders is
announced. The magnitude of the rating downgrade, if any, could
vary according to the resulting capital structure.

Although Rank may opt for a more leveraged capital structure
akin to U.K. pure gaming players, Fitch believes its ability to
increase its debt is currently constrained by the financial
covenants included in its bank facilities as well as its U.S.
private placement.

With a divisional operating profit of GBP52.9 million in FY04,
Deluxe Film accounts for approximately 25% of Rank's FY04
operating profit before exceptionals.  If the disposal is
completed, Rank will refocus on the U.K. gaming business that
account for the majority of its ongoing operations.  Rank also
retains the Hard Rock Cafe restaurants, but with the intent of
developing gaming operations under the Hard Rock Casino brand.
The video & DVD replication business, Deluxe Media, is in the
process of being sold and is treated as discontinued operation
in the H105 interim accounts.

Although U.K. gaming deregulation may attract new customers to
Rank's Grosvenor casinos, it will also increase competitive
pressure in the industry.  Rank's U.K. gaming operations are
still heavily reliant on Mecca Bingo, which has suffered a 6%
fall in admission in the year to date, while operating margins
remain under pressure from labor and energy-related cost
inflation.

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

          FITCH RATINGS
          Olivier de Combarieu, Paris
          Phone: +33 1 44 29 91 26
          Frederic Gits
          Phone: +33 1 44 29 91 34

          Media Relations
          Francoise Alos, Paris
          Phone: +33 1 44 29 91 22
          Jon Laycock, London
          Phone: +44 20 7417 4327
          Web site: http://www.fitchratings.com


SILVER LADY: Hires Begbies Traynor as Administrator
---------------------------------------------------
Mark Robert Fry and David Paul Hudson (IP Nos 008588, 008977) of
Begbies Traynor were appointed administrators of Silver Lady
Motor Services Limited (Company No 3091292) on Dec. 12.  Its
registered office is at 151 High Road, Loughton, Essex IG10 4LG.
The company repairs motor vehicles.

CONTACT:  SILVER LADY MOTOR SERVICES LTD.
          Unit 4,
          Hainault Works,
          Romford, Essex RM6 5NE
          Phone: 02085994905

          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


TOWNSEND QUINN: Appoints Begbies Traynor Administrator
------------------------------------------------------
G. N. Lee and P. Stanley (IP Nos 009204, 008123) of Begbies
Traynor were appointed administrators of Townsend Quinn & Harper
Limited (Company No 03971775) on Dec. 15.

Townsend Quinn & Harper -- http://www.tqandh.com/-- offers the
highest levels of service by award-winning stylists whose
experience reflects both a national and international
background.  Our leading-edge approach positions us at the
forefront of premier hairdressing.

CONTACT:  TOWNSEND QUINN & HARPER LIMITED
          55 Alderley Road
          Wilmslow
          Cheshire SK9 1NZ
          Phone: 01625 549900

          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


YORKSHIRE COLOURS: Manufacturer Files for Administration
--------------------------------------------------------
Myles Antony Halley (IP No 6658) and Richard Dixon Fleming (IP
No 8370) of KPMG were appointed administrators of Yorkshire
Colours Limited (Company No 05172287) on Dec. 13.  The company
manufactures dyed textiles.

CONTACT:  KPMG LLP
          1 The Embankment
          Neville Street
          Leeds
          West Yorkshire LS1 4DW
          Phone: 0113 231 3332
          Fax: 0113 231 3183
          E-mail: richard.fleming@kpmg.co.uk

          KPMG LLP
          P.O. Box 695,
          8 Salisbury Square,
          London EC4Y 8BB
          Phone: (020) 7311 1000
          Fax: (020) 7311 3311
          Web site: http://www.kpmg.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 * * *