TCREUR_Public/060104.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

            Wednesday, January 4, 2006, Vol. 7, No. 3

                            Headlines

F R A N C E

NEOVIA ELECTRONICS: Loses Price War; Files for Administration
PAPETERIES DE MARESQUEL: Century-old Paper mill Closing down


G E R M A N Y

ALLGEMEINE HYPOTHEKENBANK: Sees EUR1.3 Bln Full-year Loss
BITTER GMBH: Appoints Administrator from Lueders
BRESNICK GMBH: Sets Creditors Meeting March
ELEKTRO-MEISTERBETRIEB: Proofs of Claim Due Later this Month
ERGIN BAU: Under Bankruptcy Administration

GEA GROUP: Closes Sale of Dynamit Nobel
HAUS- UND GRUNDSTUECKSVERWALTUNG: Falls into Bankruptcy
HEINZ KLARHORST: Bielefeld Company Goes Bust
HOLZEMANN MALERBETRIEB: Court to Verify Claims February
IWKA AG: Ex-Cell-O Disposal to Cut Full-year Loss by EUR40 Mln

PAULUSSEN STRASSENBAU: Aachen Court Appoints Administrator
PHP GLASTEC: Names Pluta Provisional Administrator
RENTARA AG: Succumbs to Bankruptcy
RHI AG: Receives US$20 Mln from Honeywell International
SIGHT INFORMATIONSSYSTEME: Claims Filing Period Ends Feb. 7

VITA-PARK: Hamburg Court to Verify Claims March
VOLKSWAGEN AG: Europcar Unit Attracts Six Bidders
VOLKSWAGEN AG: To Produce Minivans with Chrysler


H U N G A R Y

NABI RT: Seeks Extension of Debt Waiver


I T A L Y

ALITALIA SPA: U.K. Group Acquires 8% Stake
FIAT SPA: Closes Option Rights Offering
FIAT SPA: Sells Rubattino Interest for EUR3.3 Million
PARMALAT SPA: Parma Prosecutors Ready to Try Tanzi, 63 Others
PARMALAT SPA: Preliminary Injunction in U.S. Extended to Feb. 7
PARMALAT U.S.A.: Farmland Dairies Gets New Jersey Tax Refund
VOLARE GROUP: Alitalia Dangles EUR40 Million


K A Z A K H S T A N

EDUCATIONAL CENTER: Folds up
GOLDEN EAGLE: Succumbs to Insolvency
INSTITUTE OF PHARMACEUTICAL: Declared Insolvent
KENES: Gives Creditors Until January 7 to File Claims
KYZMET LTD.: Creditors' Claims Due Weekend
MANAS LTD.: Court Declares Firm Insolvent
TEHNOPARK NPO: Goes into Liquidation


K Y R G Y Z S T A N

AK-BALYK: Sets Proofs of Claim Deadline
KYZYR-ARTA: Creditors' Claims Due Next Month
TRANCOM: Gives Creditors Until February to File Claims


N E T H E R L A N D S

ROYAL NUMICO: Seals Acquisition of EAC Nutrition
ROYAL SHELL: Completes Construction of Guangdong Facility


R U S S I A

ABRAMOVSKOYE: Voronezh Court Opens Bankruptcy Proceedings
BELORETSK-STROY: Succumbs to Bankruptcy
BIRSKIY ELEVATOR: Declared Insolvent
BREWERY VODOLEY: Bankruptcy Hearing Set Next Month
GLAZOVSKAYA: Files for Bankruptcy

REINFORCED CONCRETE: Kemerovo Court Appoints Insolvency Manager
RUS': Bankruptcy Hearing Resumes March
STEEL-CONSTRUCTION-2: Declared Insolvent
STROY-INDUSTRY: Proofs of Claim Deadline January 8
WIRING ENTERPRISE: Claims Filing Period Ends Sunday
YUKOS OIL: Rosneft Settles Yukos Debt to Western Banks


S W I T Z E R L A N D

SWISSAIR: Luxembourg Shareholders to Acquire Shares in Cargolux


U K R A I N E

ALMAZ: Insolvency Manager Takes over Operations
ATLAS-MASTER: Goes into Liquidation
ENERGETIK: Under Bankruptcy Supervision
OSIRIS: Insolvency Manager Enters Firm
P0ODILSKE: Declared Insolvent
UKRTATNAFTA-HERSON: Court Appoints Insolvency Manager


U N I T E D   K I N G D O M

A.C.S. BUSINESS: Calls in Liquidator
AEGIS INSURANCE: Appoints Joint Liquidators
ALLEN CHARLTON: Hires Tenon Recovery to Liquidate Business
BJM TRADING: Furniture Firm Folds up
BLAKES OF MONTPELLIER: Files for Liquidation

CLARPO MANUFACTURERS: Cheap Imports Kill Local Shirt Maker
D K STONE: Liquidators from Begbies Traynor Take over Firm
GREAVE AND THORNTON: Names Kakouris & Michaelides Liquidator
GREEN TREES: Tenon Recovery Liquidator Enters Firm
HI-TECH (SOUTH): Calls in Chantrey Vellacott Liquidator

HUNTS PATIO: Opts for Liquidation
IN CAR: Calls in David Rubin & Partners
JOINERS LIVE: Hires HJS Recovery as Liquidator
KEY GUARDING: Names Jackson Jolliffe Cork Liquidator
KINGSTON TILE: Appoints Liquidator from Gibson Hewitt & Co.

KODICOM EUROPE: DVR Maker Files for Liquidation
LE DOVE: Liquidator Takes over Firm
MILDMANOR LIMITED: Begbies Traynor to Liquidate Assets
M & M SECURITY: Hires Wilson Pitts Liquidator
NEW CONCEPT: Appoints Joint Liquidators from Tenon Recovery

ORANGE SCAFFOLDING: Begbies Traynor Liquidators Move in
PRESTIGE HOMES: Goes into Liquidation
SOUTH BUCKS: Files for Liquidation
SYNAPSE CREATIVE: Creditors Okay Appointment of Liquidator
TALKING HEADS: In Liquidation
UNWINS WINE: Selling 150 More Outlets


                            *********


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


NEOVIA ELECTRONICS: Loses Price War; Files for Administration
-------------------------------------------------------------
The Commercial Court of Meaux has placed Franco-Korean flat-
screen television maker Neovia Electronics in compulsory
administration, Le Monde says.

The court likewise placed the company under observation for six
months.  The stock market has also suspended its shares, only 18
months after it floated.

The company says the price war in the TV sector has cut into its
margins, precipitating its fall.  In the fiscal year 2004-05,
its net loss nearly tripled to EUR2.67 million, despite turnover
of EUR70.1 million.

Set up in 2002, Neovia Electronics specializes in the assembly
of high-tech products -- flat screen televisions and monitors in
both LCD and plasma.  An investor is reportedly interested in
the group, the paper says.

CONTACT:  NEOVIA ELECTRONICS
          19 Avenue James de Rotschild
          77164 Ferrires en brie
          Phone: 01 64 76 56 00
          E-mail: neovia@neovia.biz
          Web site: http://www.neovia.biz


PAPETERIES DE MARESQUEL: Century-old Paper mill Closing down
------------------------------------------------------------
Loss-making Les Papeteries de Maresquel will close its Pas-de-
Calais site this April after it failed to find a buyer, Les
Echos says.  The group may also vacate the site this autumn.

More than a hundred potential buyers had expressed interest in
the paper maker, according to local authorities involved in the
sale process.  Swedish group Klippan came close to an agreement
with International Paper, the U.S. parent of Papeteries.  Talks
broke down when it became apparent that Klippan was also
struggling financially.

TCR-Europe reported in May 2005 that International Paper had
three options for Papeteries: sell it, assume its maintenance,
or close it.

Papeteries de Maresquel is expected to post another full-year
loss this year, its third in as many years.  These consecutive
losses are the main reason why its parent has decided to put it
on the market.  The Pas-de-Calais site, which dates back to the
19th century, employs 230 people.

CONTACT:  INTERNATIONAL PAPER
          Global Headquarters
          400 Atlantic Street
          Stamford, CT 06921
          Phone: 203-541-8000
          Web site: http://www.internationalpaper.com

          INTERNATIONAL PAPER S.A. - MARESQUEL MILL
          Place des Tilleuls
          Maresquel, 62990
          Phone: +33 (0) 3 21 06 7511
          Fax: +33 (0) 3 21 86 4194


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


ALLGEMEINE HYPOTHEKENBANK: Sees EUR1.3 Bln Full-year Loss
---------------------------------------------------------
Allgemeine HypothekenBank Rheinboden AG (AHBR) is expecting a
net loss for the year 2005.  The bank estimates the deficit to
be as high as EUR1.3 billion.

These results are attributable to the complete realization of
losses on charged interest rate positions and the revaluation of
the loan portfolio in the course of comprehensive restructuring
and repositioning following the bank's takeover by U.S.
financial investor Lone Star.

In view of the expected deficit, significant claims will be made
on the liable equity capital provided by creditors holding
profit participation certificates and silent partnership
investors.  Those holding subordinated and senior unsecured
bonds are not affected.

Lone Star will support the repositioning of the bank by
providing an appropriate injection of equity capital at the
beginning of the 2006 financial year.

                        About the Company

AHBR incurred huge debt due to poor interest rate management
four years ago.  For a while it teetered on the verge of
breaking the record set by Herstatt Bank when it collapsed in
1974.  It owns assets worth more than EUR80 billion.  It is
owned directly and indirectly -- through BHW -- by the trade
union private equity holding group BGAG.  BGAG has provided it
EUR1.2 billion in financing, and guaranteed it under a EUR1.2
billion risk protection scheme.  It recently sold the company to
U.S. investment group Lone Star for EUR400 million.

                            Ratings

Following the sale, Standard & Poor's Ratings Services removed
its 'BB+' counterparty credit ratings on AHBR from CreditWatch,
where they were first placed on Oct. 25, 2005.  In addition,
Standard & Poor's affirmed its 'BB+/B' counterparty credit and
senior unsecured ratings on AHBR, and raised the ratings on
subordinated debt issued by AHBR to 'BB-' from 'B'.  The outlook
is negative.  At the same time, the 'AAA' ratings on senior
secured Offentliche Pfandbriefe and Hypothekenpfandbriefe issued
by AHBR were affirmed.

Fitch Ratings, on the other hand, downgraded AHBR to Long-term
'BBB-' from 'BBB' and removed it from Rating Watch Evolving
(RWE).  It assigned a Negative Outlook on the bank.  The Long-
term rating applies to all AHBR's senior unsecured obligations.
The rating agency has affirmed its Short-term rating at 'F3' and
Support at '2', and removed them from RWE.  AHBR's Individual
rating of 'E' has been placed on Rating Watch Positive (RWP).
In addition, Fitch has affirmed AHBR's outstanding public sector
Pfandbriefe at 'AAA' and the mortgage Pfandbriefe at 'AA+'.  At
the same time, the bank's subordinated obligations have been
upgraded to 'BB+' from 'BB-' and removed from Rating Watch
Negative (RWN).  The agency has downgraded AHBR's participation
rights (Genussscheine) to 'CC' from 'B+' and keeps them on RWN.

The company's ratings from Moody's are: financial strength: E;
unsecured long-term: Baa3, outlook negative; short-term: P-3,
outlook negative; and subordinated debt: 'Ba1', under review for
possible downgrade.

CONTACT:  ALLGEMEINE HYPOTHEKENBANK RHEINBODEN AG
          Betreff
          Bockenheimer Landstrasse 25
          D-60325 Frankfurt/Main
          Phone: (0 69) 71 79-0
          Fax: (0 69) 71 79-100
          Web site: http://www.ahbr.de


BITTER GMBH: Appoints Administrator from Lueders
------------------------------------------------
The district court of Braunschweig opened bankruptcy proceedings
against Bitter GmbH on December 9.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until January 1, 2006 to register their claims
with court-appointed provisional administrator Torsten Gutmann.

Creditors and other interested parties are encouraged to attend
the meeting on March 1, 2006, 10:50 a.m. at the district court
of Braunschweig, E 01, An der Martinikirche 8, 38100
Braunschweig, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  BITTER GmbH
          Dibag Gewerbepark Hall 1
          Steinriedendamm 15, 38108 Braunschweig
          Contact:
          Erich Bitter, Manager

          Torsten Gutmann, Administrator
          Lueders Partnergesellschaft
          Zum Blauen See 5, D-31275 Lehrte
          Phone: (05132) 826838
          Fax: (05132) 826896


BRESNICK GMBH: Sets Creditors Meeting March
-------------------------------------------
The district court of Cottbus opened bankruptcy proceedings
against Bresnick GmbH & Co. KG on December 19.  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 Dr. Dirk Wittkowski.

Creditors and other interested parties are encouraged to attend
the meeting on March 8, 2006, 10:00 a.m. at the district court
of Cottbus, Gerichtsplatz 02, 03046 Cottbus, Saal 210, 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:  BRESNICK GmbH & Co. KG
          Forster Strasse 15, 03159 Neisse-Malxetal
          Contact:
          Juergen Bresnick, Manager
          Muskauer Strasse 04 a, 03159 Neisse-Malxetal

          Dr. Dirk Wittkowski, Administrator
          Kirchblick 11, 14129 Berlin


ELEKTRO-MEISTERBETRIEB: Proofs of Claim Due Later this Month
------------------------------------------------------------
The district court of Braunschweig opened bankruptcy proceedings
against Elektro-Meisterbetrieb Andreas Altschaffel/Carsten
Watzlawik GbR 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 Joachim Hausherr.

Creditors and other interested parties are encouraged to attend
the meeting on February 22, 2006, 8:45 a.m. at the district
court of Braunschweig, E 01, An der Martinikirche 8, 38100
Braunschweig, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  ELEKTRO-MEISTERBETRIEB ANDREAS ALTSCHAFFEL
          /CARSTEN WATZLAWIK GbR
          Im Sommerfeld 9, 38304 Wolfenbuettel
          Contact:
          Andreas Altschaffel, Manager
          Paul-Francke-Strasse 10, 38302 Wolfenbuettel
          Carsten Watzlawik, Manager
          Campestrasse 35, 38302 Wolfenbuettel

          Joachim Hausherr, Administrator
          Bruchtorwall 6, 38100 Braunschweig
          Phone: 0531/2448020
          Fax: 0531/2448080


ERGIN BAU: Under Bankruptcy Administration
------------------------------------------
The district court of Koln opened bankruptcy proceedings against
Ergin Bau GmbH on December 14.  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 Dr. Ruediger
Werres.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 11:15 a.m. at the district
court of Koln, Hauptstelle, Luxemburger Strasse 101, 50939 Koln,
Erdgeschoss, Saal 14, 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:  ERGIN BAU GmbH
          Zur Ville 15, 50129 Bergheim
          Contact:
          Ibrahim Ergin, Manager
          Glessener Weg 6, 50129 Bergheim

          Dr. Ruediger Werres, Administrator
          Friesenplatz 17 a, 50672 Koln
          Phone: 0221/95 14 46 - 20
          Fax: +4922195144690


GEA GROUP: Closes Sale of Dynamit Nobel
---------------------------------------
GEA Group Aktiengesellschaft (formerly MG Technologies) has
completed the sale of Dynamit Nobel Kunststoff (DNK), a supplier
of the automotive industry with headquarters in Weissenburg,
Germany, to the Swedish Plastal Group, effective December 30,
2005.  The European Commission had already approved the
transaction on December 22, 2005.

                            *   *   *

As reported by TCR-Europe on Nov. 9, 2005, GEA Group
Aktiengesellschaft sold Dynamit Nobel Kunststoff to the Swedish
Plastal Group.  The sale assumes an enterprise value of EUR350
million.  In 2004, DNK, a profitable organization with
approximately 5,000 employees, reported sales of roughly EUR915
million.

"The disposal of our plastics business finalizes our strategic
realignment initiated in 2003, which has focused our operations
on mechanical engineering and plant engineering.  In the Plastal
Group, DNK enjoys excellent prospects," said GEA Group's Chief
Executive Officer Jurg Oleas.

In the GEA Group's consolidated financial statements (according
to IFRS) at December 31, 2005, this transaction will give rise
to an overall loss on discontinued operations, probably in the
order of between -EUR165 million and -EUR175 million, taking
into account the expected net profit of DNK.  A loss of -EUR169
million will be reported for DNK in the consolidated financial
statements at September 30, 2005.  In the annual financial
statements of GEA Group AG, prepared in accordance with German
generally accepted accounting principles (HGB), this loss will
probably be restricted to between -EUR35 million and -EUR45
million.  The financial leeway of the Group will improve with
the closing of the transaction by around EUR190 million, giving
support to the organization's growth strategy.

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

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


HAUS- UND GRUNDSTUECKSVERWALTUNG: Falls into Bankruptcy
-------------------------------------------------------
The district court of Leipzig opened bankruptcy proceedings
against Haus- und Grundstuecksverwaltung-GmbH Westsachsen on
December 16.  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 Dr. Winfried Andres.

Creditors and other interested parties are encouraged to attend
the meeting on March 7, 2006, 4:30 p.m. at the district court of
Leipzig, Kathe-Kollwitz-Str. 54, 04109 Leipzig, 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:  HAUS- UND GRUNDSTUECKSVERWALTUNG-GmbH WESTSACHSEN
          Lange Str. 22-24, 04103 Leipzig
          Contact:
          Richard and Dirk Schworer, Managers

          Dr. Winfried Andres, Administrator
          Kathe-Kollwitz-Str. 54, 04109 Leipzig


HEINZ KLARHORST: Bielefeld Company Goes Bust
--------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against Heinz Klarhorst Hartchrom und chemisch Nickel GmbH on
December 20.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
February 2, 2006 to register their claims with court-appointed
provisional administrator Cornelia Monert.

Creditors and other interested parties are encouraged to attend
the meeting on February 23, 2006, 9:00 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, at which time the administrator will present his
first report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  HEINZ KLARHORST HARTCHROM UND CHEMISCH NICKEL GmbH
          Kornkamp 20, 33699 Bielefeld
          Contact:
          Heinz Klarhorst, Manager
          Jagerstr. 1 b, 33813 Oerlinghausen

          Cornelia Monert, Administrator
          Lise-Meitner-Str. 13, 33605 Bielefeld


HOLZEMANN MALERBETRIEB: Court to Verify Claims February
-------------------------------------------------------
The district court of Wuppertal opened bankruptcy proceedings
against Holzemann Malerbetrieb GmbH on December 21.
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 Henner Klein.

Creditors and other interested parties are encouraged to attend
the meeting on February 8, 2006, 9:10 a.m. at the district court
of Wuppertal, Hauptstelle, Eiland 2, 42103 Wuppertal, 2. Etage,
Saal 234, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also
verify the claims set out in the administrator's report during
this meeting, while creditors may constitute a creditors
committee and or opt to appoint a new insolvency manager.

CONTACT:  HOLZEMANN MALERBETRIEB GmbH
          Steegerstrasse 9, 42551 Velbert
          Contact:
          Hans Peter Salewski, Manager

          Henner Klein, Administrator
          Werlestrasse 38, 42289 Wuppertal
          Phone: 0202/26 26 40
                 or 01722061011
          Fax: 0202/6 34 08


IWKA AG: Ex-Cell-O Disposal to Cut Full-year Loss by EUR40 Mln
--------------------------------------------------------------
The sale of Ex-Cell-O to Maxtor will result in a EUR55 million
book loss for IWKA AG, according to Borsen Zeitung, but on the
plus side, full-year loss will be EUR40 million less.

The EUR40 million represents the expected operating loss of Ex-
Cell-O in the current fiscal year, according to the paper.  The
business, which employs 650, contributes EUR160 million in
turnover to the group.

The sale is part of a restructuring effort to ease the fall in
investments from carmakers.  The group closed the first nine
months of 2005 with a EUR24.5 million net loss, compared to a
EUR27 million profit last year.  Nine-month turnover dropped
from EUR1.34 billion to EUR1.32 billion, while EBIT dived from
EUR56.6 million to EUR14.6 million.

The group also sold recently IWKA Balg- und
Kompensatorentechnologie and Flexible Solutions Group to local
private equity firm Odewald & Compagnie Gesellschaft fur
Beteiligungen.  IWKA is counting on this sale to cut
substantially its net debt this year.  The deal still awaits
anti-trust approval.

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


PAULUSSEN STRASSENBAU: Aachen Court Appoints Administrator
----------------------------------------------------------
The district court of Aachen opened bankruptcy proceedings
against Paulussen Strassenbau GmbH on December 16.
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 Carsten Lange.

Creditors and other interested parties are encouraged to attend
the meeting on February 20, 2006, 9:15 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:  PAULUSSEN STRASSENBAU GmbH
          Johann-Plum-Platz 4, 52511 Geilenkirchen
          Contact:
          Judith Paulussen, Manager

          Carsten Lange, Administrator
          Laurentiusstrasse 16-20, 52072 Aachen


PHP GLASTEC: Names Pluta Provisional Administrator
--------------------------------------------------
The district court of Augsburg opened bankruptcy proceedings
against php glastec Systeme GmbH on December 5.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until February 6, 2006 to
register their claims with court-appointed provisional
administrator Dr. Martin Prager.

Creditors and other interested parties are encouraged to attend
the meeting on February 27, 2006, 10:15 a.m. at the district
court of Augsburg, Justizgebaude, Sitzungssaal 162, Am Alten
Einlass 1, 86150 Augsburg, 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:  PHP GLASTEC SYSTEME GmbH
          Vordere Muehlgasse 1989, 86899 Landsberg
          Contact:
          Schlossbauer Paul and Sprotofski Helmut, Managers

          Dr. Martin Prager
          Pluta Rechtsanwalts GmbH
          Barthstr. 16, 80339 Muenchen
          Web site: http://www.pluta.net


RENTARA AG: Succumbs to Bankruptcy
----------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Rentara AG on December 15.  Consequently, all pending
proceedings against the company have been automatically stayed.
Creditors have until January 26, 2006 to register their claims
with court-appointed provisional administrator Joachim Buettner.

Creditors and other interested parties are encouraged to attend
the meeting on February 20, 2006, 11:05 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:  RENTARA AG
          Nordkanalstrasse 46, 20097 Hamburg
          Contact:
          Sandra Liebig, Liquidator
          Ferdinand-Beit-Str. 9, 22099 Hamburg

          Joachim Buettner, Administrator
          Osdorfer Landstrasse 230, 22549 Hamburg
          Phone: 8078810
          Fax: 807881-20


RHI AG: Receives US$20 Mln from Honeywell International
-------------------------------------------------------
Honeywell International Inc. has paid US$20 million to RHI
Refractories Holding as agreed by contract, after NARCO, a
company currently operating under U.S. Chapter 11 bankruptcy and
deconsolidated by RHI at the end of 2001, submitted an adjusted
plan of reorganization, which was accepted by Honeywell, to the
court in Pittsburgh.

Honeywell contractually agreed in early 2002 to pay a total of
US$60 million to RHI once certain requirements related to
NARCO's Chapter 11 proceedings were met.  The remaining US$40
million are due when the Chapter 11 proceedings of
NARCO are completed successfully.  From the current perspective,
this is expected for 2006.

The US$20 million payment, which corresponds to nearly EUR17
million, will be accounted for in RHI's earnings before interest
and taxes (EBIT) 2005.

Overall, the RHI Group's EBIT 2005 including this payment is
currently expected to be slightly below the prior-year figure of
EUR135.6 million.  EBIT of the Refractories division (RHI
Refractories) 2005 will decline on the previous year due to
increased energy and raw material costs; EBIT from the
Insulating division (Heraklith) will exceed the figure of the
previous year significantly.  Thus, RHI's profit after income
taxes is expected to be slightly below the figure of the
previous year.

Following a temporary decline in the third quarter of 2005, the
level of incoming refractories orders has substantially improved
again.  Based on the successful implementation of price
increases to cover further increased raw material and energy
costs, RHI now sees a two-digit EBIT margin in 2006.

CONTACT:  RHI AG
          Wienerbergstrasse 11
          A-1100 Wien
          Phone: +43 0 50213-0
          Fax: +43 0 50213-6213
          E-mail: rhi@rhi-ag.com
          Web site: http://www.rhi-ag.com

          Investor Relations
          Dkfm. Markus Richter
          Phone: +43-1-50213-6123
          E-mail: markus.richter@rhi-ag.com


SIGHT INFORMATIONSSYSTEME: Claims Filing Period Ends Feb. 7
-----------------------------------------------------------
The district court of Essen opened bankruptcy proceedings
against SIGHT Informationssysteme GmbH i. L. on December 22.
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until February 7,
2006 to register their claims with court-appointed provisional
administrator Dr. Jens M. Schmittmann.

Creditors and other interested parties are encouraged to attend
the meeting on February 22, 2006, 9:10 a.m. at the district
court of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, I.OG,
gelber Bereich, Saal 185, 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:  SIGHT INFORMATIONSSYSTEME GmbH i. L.
          Kyffhauser Str. 8, 45141 Essen
          Contact:
          Gabriele Hoppe, Liquidator

          Dr. Jens M. Schmittmann, Administrator
          Zweigertstrasse 28-30, 45130 Essen
          Phone: 0201 438740


VITA-PARK: Hamburg Court to Verify Claims March
-----------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against VITA-Park GmbH & Co. KG on December 14.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until February 9, 2006 to
register their claims with court-appointed provisional
administrator Dr. Gideon Bohm.

Creditors and other interested parties are encouraged to attend
the meeting on March 9, 2006, 9:00 a.m. at the district court of
Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4.
Etage, Anbau, Saal B 424, 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:  VITA-PARK GmbH & Co. KG
          Uwestrasse 3, 22525 Hamburg

          Dr. Gideon Bohm, Administrator
          Bachstrasse 85a, 22083 Hamburg
          Phone: 040/3208360
          Fax: 040/32083636


VOLKSWAGEN AG: Europcar Unit Attracts Six Bidders
-------------------------------------------------
Volkswagen AG's Europcar International unit has drawn six
potential buyers, the Financial Times says.

Among the bidders is German automotive rental business Sixt AG,
which earlier denied interest in the France-based car rental
venture.  Volkswagen is understood to have put Europcar on sale
to raise funds to cover restructuring costs.  It follows the
disposal of Volkswagen's IT services arm Gedas to Deutsche
Telekom.  Europcar is expected to pull in bids of up to EUR2.5
billion, including debt.

Joining Sixt are U.S.-based Enterprise Rent-a-Car and four
private equity firms Cerberus Capital, Cinven Group, Carlyle
Group and Merrill Lynch Global.  All were either unavailable for
comment or refused to do so.

Volkswagen faces a tough start in 2006 with plans of job
reductions involving more than 100,000 German workers, and
reviews of several manufacturing sites.  A boardroom row also
looms over Porsche AG's plans to nominate its chief executive
and finance director to the Volkswagen supervisory board after
it acquired an 18.6% stake in the company.

In 2004, Europcar posted pre-tax profits of EUR84 million, up
16% from a year earlier, while sales increased 6% to EUR1.17
billion.  Sixt, which is understood to have called in private
equity group Apax Partners, could operate Europcar as a "low-
cost" provider.

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

          EUROPCAR INTERNATIONAL
          3 avenue du Centre
          Immeuble Les Quadrants
          78881 St. Quentin en Yvelines
          France
          Phone: (33) 1 30 44 90 00
          Fax: (33) 1 30 44 94 45

          SIXT AG
          Zugspitzstrabe 1
          82049 Pullach, Germany
          Phone: +49-89-74444-4260
          Fax: +49-89-744448-4260
          Web site: http://ag.sixt.com

          APAX PARTNERS, INC.
          445 Park Ave., 11th Fl.
          New York, NY 10022
          Phone: 212-753-6300
          Fax: 212-319-6155
          Web site: http://www.apax.com

          ENTERPRISE RENT-A-CAR
          Web site: http://www.enterprise.com

          CERBERUS CAPITAL MANAGEMENT, L.P.
          299 Park Ave.
          New York, NY 10171
          Phone: 212-891-2100
          Fax: 212-891-1540

          CINVEN GROUP LTD.
          Warwick Ct., Paternoster Sq.
          London EC4M 7AG
          United Kingdom
          Phone: +44-20-7661-3333
          Fax: +44-20-7661-3888
          Web site: http://www.cinven.com

          THE CARLYLE GROUP
          1001 Pennsylvania Ave. NW
          Washington, DC 20004-2505
          Phone: 202-729-5626
          Fax: 202-347-1818
          Web site: http://www.thecarlylegroup.com

          MERRILL LYNCH & CO., INC.
          4 World Financial Center
          New York, NY 10080
          Phone: 212-449-1000
          Fax: 212-449-7357
          Toll Free: 800-637-7455
          Web site: http://www.merrilllynch.com


VOLKSWAGEN AG: To Produce Minivans with Chrysler
------------------------------------------------
Volkswagen AG and DaimlerChrysler AG's Chrysler unit have
reportedly agreed to manufacture small vans for the U.S. market.

The deal, set to be inked on January 8 at the auto show in
Detroit, will see both carmakers work on a mini-van model in the
Chrysler production facility and release it under the Volkswagen
brand in the U.S. next year or in 2008.  At present, Volkswagen
has no minivans available in the American market.  The joint
venture is expected to produce between 35,000 and 45,000
minivans for the U.S. annually.

Deutsche Presse-Agentur said the move was part of Volkswagen's
measures to avoid further decline in sales amid tough
competition in the U.S.  The carmaker's sales in the U.S. fell
15.5% to 198,000 units from January to November 2005.  A
spokesman for the firm refused to comment.

Chief Executive Bernd Pischetsrieder has warned of continued
poor performance in the American market this year following an
estimated loss of around EUR1 billion in the U.S. in 2005.

In October, Mr. Pischetsrieder confirmed the two car
manufacturers have been discussing about a basic agreement on
cooperation projects since 2001.  He said: "We have been talking
about it since 2001.  Now the strategy teams from both sides are
talking about a list of different projects."

DaimlerChrysler has ruled out taking a stake in Volkswagen.

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

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


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


NABI RT: Seeks Extension of Debt Waiver
---------------------------------------
Loss-making bus maker Nabi Rt. revealed Monday it is seeking
another extension to the Master Support Agreement (MSA).

According to Budapest Business Journal, the agreement expired on
December 31 after creditors extended it in November.  Signed in
May last year, the MSA waived temporarily certain events of
default contained in financing indentures, allowing the company
to continue its restructuring.

"The Financiers have indicated their consent to the extension
and NABI expects formal approval shortly," the paper quoted a
Nabi statement.

Shareholders will be informed once Nabi receives written
approval of the extension, it said.

CONTACT:  NABI RT
          Ujszasz utca 45
          Budapest 1165 Hungary
          Phone: +36.1.401.7100
          Fax: +36.1.407.2931
          E-mail: corporate.office@nabi.hu
          Contact:
          Andras Bodor, Corporate Affairs Director


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


ALITALIA SPA: U.K. Group Acquires 8% Stake
------------------------------------------
U.K. investment group Walter Capital Management LLP (WCM) is now
the largest private shareholder of ailing national carrier
Alitalia S.p.A., Reuters says.

As of Dec. 21, WCM's stake was 8.187%.  It acquired the stake by
participating in the carrier's EUR1 billion capital hike late
last year.  Italy still owns a large chunk of Alitalia 49.9%,
down from 62%.  This reduction is one of the conditions set by
the European Commission when it approved a government-guaranteed
bridging loan for Alitalia in July last year.

                        About the Company

Headquartered in Viale A. Marchetti 111, 00148 Rome, Italy,
Alitalia S.p.A. -- http://www.alitalia.it-- generates more than
EUR4 billion in annual revenue and employs more than 20,000
people.  As of December 2004, its net debt stood at EUR1.76
billion in 2004.  Alitalia flies to about 80 destinations in
more than 60 countries from hubs in Rome and Milan and operates
a fleet of about 185 aircraft.  Despite a EUR1.4 billion state-
backed restructuring in 1997 and a EUR1.4 billion capital
injection two years ago, it remains financially troubled.  It
has posted a profit only four times in the past 16 years.

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

          WALTER CAPITAL MANAGEMENT LLP
          Boston House
          63-64 New Broad Street
          London EC2M 1JJ


FIAT SPA: Closes Option Rights Offering
---------------------------------------
The offering of unexercised option rights related to the capital
increase to service the Mandatory Convertible Loan has been
completed.  No option right was purchased and, therefore, as
already disclosed on Dec. 16, 1,009,773 Fiat Ordinary Shares
have been subscribed by stockholders out of the 291,828,718 Fiat
Ordinary Shares offered in option to them.  The shares were
previously subscribed by the lending banks on Sept. 20, 2005 at
a price of EUR10.28 each.

Notice is hereby given that the exercise price of the Fiat
Ordinary Share Warrants 2007, equal to EUR29.448, is adjusted
pursuant to the relevant regulation, for an amount equal to the
difference between the arithmetic average of the last five "cum
rights" official prices and the arithmetic average of the first
five "ex rights" official prices of Fiat ordinary shares.

The adjusted exercise price is equal to EUR29.364.

                        About the Company

Fiat S.p.A., headquartered in Turin, is one of the largest
industrial groups in Italy and the fourth largest European-based
automobile manufacturer, with revenues of EUR33.4 billion in the
first nine months of 2005.  Fiat's creditors include Banca
Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del
Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano.

                           Status to date

The company recently converted EUR3 billion bank debt into
shares, halving net industrial debt to EUR4.7 billion.  The
founding Agnelli family controls 30% of the company.

In August, S&P revised its outlook on Fiat to stable from
negative.  At the same time, it affirmed its 'BB-' long-term and
'B' short-term corporate credit ratings on the group.

CONTACT:  FIAT S.p.A.
          via Nizza, 250 - 10126 Torino
          Phone: +39 011 00 63088
          Fax: +39 011 00 63798
          E-mail: mediarelations@fiatgroup.com
          Web site: http://www.fiatgroup.com


FIAT SPA: Sells Rubattino Interest for EUR3.3 Million
-----------------------------------------------------
The Fiat Group sells its interest in Rubattino 87 S.r.l., a
company dealing with real estate development of the formerly
Innocenti/Maserati area in Milan.

Fiat Partecipazioni sold its interest in the capital stock of
Rubattino 87 S.r.l., equal to 30.59%, to the Aedes Group, being
this investment no longer strategic to it.  The sale price was
set at approximately EUR3.3 million, in line with the pro-quota
value of the company's equity.  Simultaneously, Fiat
Partecipazioni sold receivables from Rubattino 87 S.r.l.,
amounting to approximately EUR40.2 million to the Aedes Group.

                        About the Company

Fiat S.p.A., headquartered in Turin, is one of the largest
industrial groups in Italy and the fourth largest European-based
automobile manufacturer, with revenues of EUR33.4 billion in the
first nine months of 2005.  Fiat's creditors include Banca
Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del
Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano.

                           Status to date

The company recently converted EUR3 billion bank debt into
shares, halving net industrial debt to EUR4.7 billion.  The
founding Agnelli family controls 30% of the company.

In August, S&P revised its outlook on Fiat to stable from
negative.  At the same time, it affirmed its 'BB-' long-term and
'B' short-term corporate credit ratings on the group.

CONTACT:  FIAT S.p.A.
          via Nizza, 250 - 10126 Torino
          Phone: +39 011 00 63088
          Fax: +39 011 00 63798
          E-mail: mediarelations@fiatgroup.com
          Web site: http://www.fiatgroup.com


PARMALAT SPA: Parma Prosecutors Ready to Try Tanzi, 63 Others
-------------------------------------------------------------
Another trial awaits those involved in Parmalat's multi-billion-
euro collapse more than two years ago, ANSA says.

Parma prosecutors are now preparing fraud charges against
founder Calisto Tanzi and 63 others.  Six people have been
dropped from the list of accused.  Chief prosecutor Gerardo
Laguardia, who is currently reviewing the charges, will forward
the papers to a preliminary hearing judge shortly.

A Milan court is also trying Mr. Tanzi and 15 others on charges
of market rigging, false auditing, misleading investors and
hindering the regulatory activities of Consob.  While the Milan
trial focuses on charges involving the stock market, the Parma
trial will deal with the more serious crimes of fraudulent
bankruptcy and accounting fraud.

Parmalat collapsed in December 2003 after revealing a EUR14
billion hole in its accounts.  Its collapse left around 150,000
investors scurrying for their money and hoping that current
legal actions would bring some investments back.  It recently
returned to the stock market following a EUR20 billion debt-to-
equity swap.

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

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


PARMALAT SPA: Preliminary Injunction in U.S. Extended to Feb. 7
---------------------------------------------------------------
The Honorable Robert D. Drain of the U.S. Bankruptcy Court for
the Southern District of New York enjoins and restrains all
persons subject to the jurisdiction of the U.S. court from
commencing or continuing any action to collect a prepetition
debt against Parmalat S.p.A. and its affiliates and
subsidiaries, on an interim basis, without obtaining permission
from the Bankruptcy Court.

The Preliminary Injunction, however, does not apply to:

   -- the furtherance or prosecution of claims of creditors
      against these subsidiaries or affiliates of the Foreign
      Debtors:

         (i) Subsidiaries or affiliates of the Foreign Debtors
             covered by currently pending liquidation,
             insolvency, administration or reorganization cases
             or proceedings, including those based in Brazil,
             the Cayman Islands, Chile, Germany, Hungary,
             Ireland and the United States;

        (ii) Subsidiaries or affiliates conducting business
             operations in Spain, Canada, Nicaragua, Venezuela,
             South Africa, Australia, Mexico, Costa Rica,
             Mauritius, Uruguay (only Parmalat Uruguay S.A.),
             Argentina, the Dominican Republic and the United
             States, including, but not limited to, BF Holdings,
             USA, Inc., Mother's Cake & Cookie Co., and Archway
             Cookies, LLC;

       (iii) Wishaw Trading S.A.; and

        (iv) former officers and directors as of December 23,
             2003, of the Foreign Debtors,

      but only to the extent that the prosecution or furtherance
      of claims does not impact upon, obtain possession of or
      seek control over assets, claims or property of the
      Foreign Debtors; and

   -- discovery against the Foreign Debtors by defendants in
      these pending actions:

         (i) Bondi v. Grant Thornton International, et al.,
             No. 04-Civ.-9711 (LAK) (S.D.N.Y.); and

        (ii) Bondi v. Bank of America Corporation, et al.,
             No. 1:04cv215 (W.D.N.C.); and

   -- any other matter to which the injunction does not apply as
      determined by the U.S. District Court for the Southern
      District of New York.

Judge Drain will convene another hearing on February 7, 2006, at
10:00 a.m. to consider whether to continue the terms of the
Preliminary Injunction.  The Preliminary Injunction Order will
remain in effect through February 8, 2006.

Headquartered in Wallington, New Jersey, Parmalat U.S.A.
Corporation -- http://www.parmalatusa.com/-- generates more
than EUR7 billion in annual revenue.  The Parmalat Group's 40-
some brand product line includes milk, yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.  The company employs over 36,000
workers in 139 plants located in 31 countries on six continents.
It filed for chapter 11 protection on February 24, 2004 (Bankr.
S.D.N.Y. Case No. 04-11139).  Gary Holtzer, Esq., and Marcia L.
Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the
Debtors.  When the U.S. Debtors filed for bankruptcy protection,
they reported more than $200 million in assets and debts.  The
U.S. Debtors emerged from bankruptcy on April 13, 2005.
(Parmalat Bankruptcy News, Issue No. 67; Bankruptcy Creditors'
Service, Inc., 215/945-7000)

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

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


PARMALAT U.S.A.: Farmland Dairies Gets New Jersey Tax Refund
------------------------------------------------------------
In its Schedules of Assets and Liabilities filed with the U.S.
Bankruptcy Court for the Southern District of New York, Farmland
Dairies LLC, a Parmalat U.S.A. Corporation debtor-affiliate,
listed a contingent and unliquidated sales and use tax liability
owing to the State of New Jersey.

On August 6, 2004, the New Jersey Department of Treasury,
Division of Taxation, filed Claim No. 876 against Farmland and
Parmalat U.S.A. Corp. for $1,746,730.  The New Jersey Treasury
Department asserted a priority claim pursuant to Section
507(a)(8) of the Bankruptcy Code for various tax liabilities.

Subsequently, on March 7, 2005, New Jersey filed Claim No. 1003
for US$458,079 against Parmalat U.S.A. and Farmland, thus, (i)
amending and superseding Claim No. 876 and (ii) asserting a
priority claim for:

   * underpayment of corporation business taxes for 2002;

   * audits of sales and use tax for January 2000 through
     December 2003; and

   * underpayment of liter tax for 2003.

The U.S. Debtors sought to:

   (a) expunge Claim No. 876 since it was amended and
       superseded by Claim No. 1003;

   (b) reduce the First Amended Claim to $421,723, because it
       was inconsistent with the Debtors' books and records;
       and

   (c) expunge and disallow the Original Claim as to Parmalat
       USA, and transfer the First Amended Claim in its
       entirety to Farmland.

In response, New Jersey disagreed with the Debtors' proposed
reduction of the First Amended Claim.  However, New Jersey
consented to the expungement of the Original Claim as against
both Parmalat U.S.A. and Farmland, and the First Amended Claim
solely as against Parmalat U.S.A.

The Court approved the consented expungement on May 18, 2005.

Moreover, on June 1, 2005, New Jersey filed Claim No. 1035
against Parmalat U.S.A. and Farmland for US$373,707, which
superseded the First Amended Claim.  On June 6, New Jersey
amended Claim No. 1035 by filing Claim No. 1034 against Parmalat
USA and Farmland for $429,341.

Recently, Farmland received a refund from New Jersey in
connection with an overpayment of federal income taxes in 2002
and 2003.  For income tax purposes, Parmalat U.S.A. files a
separate federal income tax return that takes into account
Farmland's operations.

Accordingly, the Refund is directed to Parmalat U.S.A.
Nonetheless, because Farmland is responsible for any and all
liabilities related to the Amended Claims, the Refund is agreed
to belong to Farmland.

Against this backdrop, Farmland and Parmalat U.S.A. agree that
the Refund will be deemed Farmland's property.  Parmalat U.S.A.
and Farmland are authorized to take all necessary actions to
ensure the Refund is deposited in a Farmland bank account.  Any
and all liabilities related to the New Jersey Amended Claims or
any other tax claims will be deemed Farmland's sole obligation.

Headquartered in Wallington, New Jersey, Parmalat U.S.A.
Corporation -- http://www.parmalatusa.com/-- generates more
than EUR7 billion in annual revenue.  The Parmalat Group's 40-
some brand product line includes milk, yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.  The company employs over 36,000
workers in 139 plants located in 31 countries on six continents.
It filed for chapter 11 protection on February 24, 2004 (Bankr.
S.D.N.Y. Case No. 04-11139).  Gary Holtzer, Esq., and Marcia L.
Goldstein, Esq., at Weil Gotshal & Manges LLP, represent the
Debtors.  When the U.S. Debtors filed for bankruptcy protection,
they reported more than $200 million in assets and debts.  The
U.S. Debtors emerged from bankruptcy on April 13, 2005.
(Parmalat Bankruptcy News, Issue No. 67; Bankruptcy Creditors'
Service, Inc., 215/945-7000) (Parmalat Bankruptcy News, Issue
No. 66; Bankruptcy Creditors' Service, Inc., 215/945-7000)

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

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


VOLARE GROUP: Alitalia Dangles EUR40 Million
--------------------------------------------
Alitalia is setting aside EUR40 million for the acquisition of
ailing smaller rival Volare Group, AFX News says.

In another report, daily MF said Alitalia has offered EUR27-
EUR30 million to buy Volare and invest a further EUR10-EUR13
million.

Also interested in Volare are AirOne, Eurofly-Meridiana, WindJet
and the Miro Radici Textile & Energy (MRTE).  MRTE has offered
to inject EUR33 million into Volare over 12 to 18 months to
relaunch the airline.  It also offered to maintain Volare's
current employment level of more than 200 people and rehire
personnel.  Volare administrator Carlo Rinaldini will announce
the winning bidder Saturday.

Volare declared insolvency on Nov. 22, 2004, citing huge debt
and heavy losses.  The group then filed for 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.  Volare needs fresh capital
to expand its fleet.  It plans to forge a strategic partnership
with another airline to ensure it has enough planes to cover its
flight slots.

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

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

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


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


EDUCATIONAL CENTER: Folds up
----------------------------
The Liquidation Commission has declared OJSC Educational Center
of Biotechnology insolvent.  Appeals must be filed at Astana,
Valihanova Str. 43, National Center of Biotechnology of the
Republic of Kazakhstan.  Call 8 (3172) 21-46-33 or 21-40-20 for
more information.


GOLDEN EAGLE: Succumbs to Insolvency
------------------------------------
Golden Eagle Partners C.A.P.L has declared insolvency.
Creditors may submit their proofs of claim to Almata, Abylai-
Hana Ave. 105.

CONTACT:  GOLDEN EAGLE PARTNERS C.AP.L
          Almaty Igisheva Str. 82
          Phone: 8 (3272) 53-15-40
                          53-13-91


INSTITUTE OF PHARMACEUTICAL: Declared Insolvent
-----------------------------------------------
The Liquidation Commission has declared OJSC Institute of
Pharmaceutical (Industry) Biotechnology insolvent.  Appeals must
be filed at Astana, Valihanova Str. 43, National Center of
Biotechnology of the Republic of Kazakhstan.  Call 8 (3172) 21-
46-33 or 21-40-20 for more information.


KENES: Gives Creditors Until January 7 to File Claims
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Astana has
declared LLC Company Kenes insolvent.  Creditors may submit
their proofs of claim to Astana, 9 May Str. 71a/102 until
January 7, 2006.  Call 8 (3172) 39-73-00 for more information.


KYZMET LTD.: Creditors' Claims Due Weekend
------------------------------------------
The Specialized Inter-Regional Economic Court of Astana has
declared LLC Kyzmet Ltd. insolvent.  Creditors may submit their
proofs of claim to Astana, 9 May Str. 71a/102 until January 7,
2006.  Call 8 (3172) 39-73-00 for more information.


MANAS LTD.: Court Declares Firm Insolvent
-----------------------------------------
The Specialized Inter-Regional Economic Court of Astana has
declared LLC Manas Ltd. insolvent.  Creditors may submit their
proofs of claim to Astana, 9 May Str. 71a/102 on or before
January 7, 2006.  Call 8 (3172) 39-73-00 for more information.


TEHNOPARK NPO: Goes into Liquidation
------------------------------------
The Liquidation Commission has declared OJSC Tehnopark Npo
Progress insolvent.  Appeals must be filed at Astana, Valihanova
Str. 43, National Center of Biotechnology of the Republic of
Kazakhstan.  Call 8 (3172) 21-46-33 or 21-40-20 for more
information.


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


AK-BALYK: Sets Proofs of Claim Deadline
---------------------------------------
LLC Ak-Balyk, which recently became insolvent, will accept
proofs of claim at Naryn, Boogachy Str. 1. until February 23,
2006


KYZYR-ARTA: Creditors' Claims Due Next Month
--------------------------------------------
LLC Kyzyr-Arta, which recently became insolvent, will accept
proofs of claim at Bishkek, Srednaya Str. 19 until February 20,
2006.


TRANCOM: Gives Creditors Until February to File Claims
------------------------------------------------------
LLC Trancom, which recently became insolvent, will accept proofs
of claim at Bishkek, Tolstoy Str. 59/23 until February 20, 2006.


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


ROYAL NUMICO: Seals Acquisition of EAC Nutrition
------------------------------------------------
Royal Numico N.V. said it has completed the acquisition of EAC
Nutrition, a leading Asian Baby Food Company.  The acquisition
is expected to be earnings neutral by the end of 2006 and
accretive from there onwards.

EAC Nutrition provides Numico with leading market positions
through the highly recognized Dumex brand in the fast growing
Asian Infant Nutrition market, most notably in China, Malaysia
and Thailand.  The Asian Infant Nutrition market forms a
significant and sustainable opportunity characterized by a very
low per capita consumption, a high number of births and
increasing GDP per capita, offering ample growth opportunities.
EAC Nutrition is an excellent strategic and geographical fit
with Numico's existing business in Indonesia, Australia and New
Zealand and provides Numico with a strong platform to benefit
from the long-term growth potential of the Asia Pacific market.

EAC Nutrition will be managed as a separate division within
Numico and will be led by Mark Wilson, the former CEO of EAC,
who will be proposed for appointment as member of Numico's
Executive Board at Numico's AGM of 3 May 2006.

The total consideration for the acquisition of EUR1,200 million
has been financed through i) the equity offering that took place
on 14 November 2005 raising EUR550 million, ii) a US private
placement amounting to EUR168 million that was completed on 22
December 2005 and iii) the EUR1.25 billion new bank loan
facility that was completed on 16 December 2005, which will
finance the remainder (EUR482 million) of the acquisition.

EAC Nutrition is primarily focused on the development,
manufacturing and marketing of infant nutrition products under
the Dumex family of brands, which include Mamex, Mamil, Dupro
and Dugro in Asia.  Next to its leading market positions in
China, Thailand and Malaysia, EAC Nutrition has additional
presences in the Philippines and India, as well as a growing
export business to other markets in Asia and - to a lesser
extent - the Middle East.  EAC Nutrition currently employs
approx. 2,250 people including more than 475 Nutrition Advisors
working with local Health Care Professionals to provide
education and information on Baby Nutrition.

Royal Numico is a high-growth, high-margin, specialist baby food
and clinical nutrition company.  Acknowledged as the European
market leader in infant nutrition and medical nutrition, its
products range from infant milk formula to specialized nutrition
for babies with specific needs and for breastfeeding mothers.
For people with specific nutritional requirements, Numico offers
a complete range of enteral clinical nutrition, diet products
and disease-specific nutrition.

CONTACT:  ROYAL NUMICO N.V.
          Web site: http://www.numico.com
          Corporate Communications
          Phone: +31 20 456 9077

          Investor Relations
          Phone: +31 20 456 9003


ROYAL SHELL: Completes Construction of Guangdong Facility
---------------------------------------------------------
Royal Dutch Shell plc has welcomed the announcement by the Board
of CNOOC and Shell Petrochemicals Company Limited (CSPC) that
construction of its world-scale petrochemicals complex at Daya
Bay, Guangdong (China) is complete and final preparations are
being made for start-up.  The construction of the world-class
facility has been completed within the expected schedule and
budget.

The Daya Bay project is fundamental to the Shell strategic
objective to grow a significant presence in China, where demand
for plastics and packaging is expected to make up 30% of world
consumption by 2010.  The investment is consistent with the
Shell strategy of "more upstream, profitable downstream."

Completion of construction is a key milestone since work started
in November 2002 on the world-scale petrochemicals project,
which is a joint investment by China National Offshore Oil
Corporation (CNOOC), Royal Dutch Shell (Shell) and Guangdong.
The petrochemicals complex, so far the largest joint venture
project in China with a total investment of US$4.3 billion will
after start-up manufacture 2.3 million tonnes of petrochemicals
products which will be supplied to markets in Guangdong Province
and Southeast Coastal China where demands for petrochemicals
products are strong.

Luo Han, chairman of the board of CSPC, said: "This world-class
petrochemicals complex encountered great challenges and overcame
various obstacles during the course of construction.  We are
glad to see that the complex, with the endeavors of all parties,
is completed within the expected schedule and budget and has met
the world-class standards in general.  It compares well with the
projects of similar scale and complexity in the world.  We would
like to congratulate the Chinese and foreign construction
personnel and thank all the parties who have given attention and
support to the construction of the project."

Tan Ek Kia, vice chairman of the board of CSPC, said: "We are
indeed very pleased with the progress of the project and are
proud of the construction personnel who have worked very hard to
deliver this project as planned despite the significant
challenges they faced during the course of the construction.  In
particular, we note with pride that CSPC has led the way as a
role model for sustainable development in the petrochemical
industry for China."

Simon Lam, General Manager of CSPC, said: "Every employee of
CSPC is very excited about what we have accomplished to date.
Most of the utilities units and general facilities have already
been on operation for several months.  The cracker and
downstream units are being progressively phased in as part of an
integrated start up plan with full complex product in tank
expected in the next few weeks."

                        About the Company

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

                           The Trouble

Shell admitted overstating proved reserves by almost 6 billion
barrels between January 2004 and February last year.  This led
to the ouster of three top executives, including former Chairman
Philip Watts.  The company was fined EUR150 million in total
after investigations launched by U.S. and British regulators.
Shell has since revised the method by which it calculates
reserves to comply with U.S. regulations.  Shell's proved
reserves stood at 10.2 billion barrels at the end of
2004.

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


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


ABRAMOVSKOYE: Voronezh Court Opens Bankruptcy Proceedings
---------------------------------------------------------
The Arbitration Court of Voronezh region commenced bankruptcy
proceedings against Abramovskoye after finding the open joint
stock company insolvent.  The case is docketed as A14-7502-
2005/65/20b.  Mr. E. Shur has been appointed insolvency manager.

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

(a) ABRAMOVSKOYE
    Russia, Voronezh region, Talovskiy region,
    Abramovka, Zheleznodorozhnaya Str. 1

(b) E. SHUR
    Insolvency Manager
    397490, Russia, Voronezh region, Talovskiy region,
    Abramovka, Zheleznodorozhnaya Str. 1

(c) ARBITRATION COURT OF VORONEZH REGION
    394030, Russia, Voronezh region,
    Srednemoskovskaya Str. 77


BELORETSK-STROY: Succumbs to Bankruptcy
---------------------------------------
The Arbitration Court of Bashkortostan republic commenced
bankruptcy proceedings against Beloretsk-Stroy (TIN 0256005505)
after finding the open joint stock company insolvent.  The case
is docketed as A07-4764/03-A-RSA/KhRM.  Mr. M. Rakhimov has been
appointed insolvency manager.  Creditors have until January 8,
2006 to submit their proofs of claim to 450071, Russia,
Bashkortostan republic, Ufa, 50 Let SSSR, 29, Apartment 17.

CONTACT:  BELORETSK-STROY
          453500, Russia, Bashkortostan republic,
          Beloretsk, Blyukhera Str. 137

          M. RAKHIMOV
          Insolvency Manager
          450071, Russia, Bashkortostan republic, Ufa,
          50 Let SSSR, 29, Apartment 17


BIRSKIY ELEVATOR: Declared Insolvent
------------------------------------
The Arbitration Court of Bashkortostan republic commenced
bankruptcy proceedings against Birskiy Elevator after finding
the company insolvent.  The case is docketed as A07-12389/05-G-
ADM.  Mr. V. Palaksov has been appointed insolvency manager.
Creditors have until January 8, 2006 to submit their proofs of
claim to 452453, Russia, Bashkortostan republic, Birsk,
Krasnoarmeyskaya Str. 5a.

CONTACT:  BIRSKIY ELEVATOR
          452453, Russia, Bashkortostan republic,
          Birsk, Krasnoarmeyskaya Str. 5a

          V. PALAKSOV
          Insolvency Manager
          452453, Russia, Bashkortostan republic,
          Birsk, Krasnoarmeyskaya Str. 5a


BREWERY VODOLEY: Bankruptcy Hearing Set Next Month
--------------------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on limited liability company
Brewery Vodoley.  The case is docketed as A32-30042/2005-2/416-
B.  Mr. O. Luchkov has been appointed temporary insolvency
manager.  Creditors may submit their proofs of claim to 452913,
Russia, Krasnodar region, Armavir, Post User Box 957.  A hearing
will take place on February 16, 2006, 2:30 p.m.

CONTACT:  BREWERY VODOLEY
          Russia, Krasnodar region,
          Armavir, Uritskogo Str. 1

          O. LUCHKOV
          Temporary Insolvency Manager
          452913, Russia, Krasnodar region,
          Armavir, Post User Box 957


GLAZOVSKAYA: Files for Bankruptcy
---------------------------------
The Arbitration Court of Udmurtiya republic commenced bankruptcy
proceedings against Glazovskaya after finding the agro
industrial company insolvent.  The case is docketed as A71-
20/2005-G2.  Mr. A. Galushko has been appointed insolvency
manager.

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

(a) GLAZOVSKAYA
    Russia, Udmurtiya republic,
    Izhevsk, Severnyj, 61-915

(b) A. GALUSHKO
    Insolvency Manager
    426034, Russia, Udmurtiya republic,
    Izhevsk, 50 Let Oktyabrya Square, 2

(c) ARBITRATION COURT OF UDMURTIYA REPUBLIC
    426004, Russia, Udmurtiya republic,
    Izhevsk region, Lomonosova Str. 5


REINFORCED CONCRETE: Kemerovo Court Appoints Insolvency Manager
---------------------------------------------------------------
The Arbitration Court of Kemerovo region commenced bankruptcy
proceedings against Reinforced Concrete Goods (TIN 4208003304)
after finding the factory insolvent.  The case is docketed as
A27-9405/2005-4.  Mr. G. Kuptsov has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 650021, Russia, Kemerovo region,
Petrozavodskaya Str. 1B.

CONTACT:  REINFORCED CONCRETE GOODS
          650044, Russia, Kemerovo region,
          Shakhterskaya Str. 9

          G. KUPTSOV
          Insolvency Manager
          650021, Russia, Kemerovo region,
          Petrozavodskaya Str. 1B


RUS': Bankruptcy Hearing Resumes March
--------------------------------------
The Arbitration Court of Krasnodar region has commenced
bankruptcy supervision procedure on close joint stock company
Rus' (TIN/KPP 2320029877/232001001).  The case is docketed as
A32-18256/2005-44/251-B.  Ms. I. Zhmurko has been appointed
temporary insolvency manager.

Creditors may submit their proofs of claim to 354024, Russia,
Sochi, Kurortnyj Pr. 108.  A hearing will take place on March
13, 2006, 11 a.m. at the Arbitration Court of Krasnodar region
at Russia, Krasnodar region, Krasnaya Str. 6.

CONTACT:  I. ZHMURKO
          Temporary Insolvency Manager
          354024, Russia,
          Sochi, Kurortnyj Pr. 108


STEEL-CONSTRUCTION-2: Declared Insolvent
----------------------------------------
The Arbitration Court of Kemerovo region commenced bankruptcy
proceedings against Steel-Construction-2 after finding the
limited liability company insolvent.  The case is docketed as
A27-29437/2005-4.  Mr. A. Zakharov has been appointed insolvency
manager.  Creditors may submit their proofs of claim to 653052,
Russia, Kemerovo region, Prokopyevsk, 10th Location, 13,
Apartment 16.

CONTACT:  STEEL-CONSTRUCTION-2
          Russia, Kemerovo region, Novokuznetsk,
          Territory of OJSC ZSMK

          A. ZAKHAROV
          Insolvency Manager
          653052, Russia, Kemerovo region, Prokopyevsk,
          10th Location, 13, Apartment 16


STROY-INDUSTRY: Proofs of Claim Deadline January 8
--------------------------------------------------
The Arbitration Court of Krasnoyarsk region commenced bankruptcy
proceedings against Stroy-Industry after finding the open joint
stock company insolvent.  The case is docketed as A33-16484/03-
s4.  Mr. N. Rasskazov has been appointed insolvency manager.
Creditors have until January 8, 2006 to submit their proofs of
claim to 662150, Russia, Krasnoyarsk region, Achinsk, Yuzhnaya
Prom.Zone, Block 1, Building 10.

CONTACT:  STROY-INDUSTRY
          662150, Russia, Krasnoyarsk region,
          Yuzhnaya Prom.Zone, Block 1, Building 10

          N. RASSKAZOV
          Insolvency Manager
          662150, Russia, Krasnoyarsk region, Achinsk,
          Yuzhnaya Prom.Zone, Block 1, Building 10


WIRING ENTERPRISE: Claims Filing Period Ends Sunday
---------------------------------------------------
The Arbitration Court of Voronezh region commenced bankruptcy
proceedings against Wiring Enterprise after finding the open
joint stock company insolvent.  The case is docketed as A14-
4001/2005/18/16b.  Mr. A. Ivanov has been appointed insolvency
manager.  Creditors have until January 8, 2006 to submit their
proofs of claim to 394026, Russia, Voronezh region, Moskovskiy
Pr. 7, Office TsPOSN.

CONTACT:  WIRING ENTERPRISE
          Russia, Voronezh region,
          Montazhnyj Per. 3

          A. IVANOV
          Insolvency Manager
          394026, Russia, Voronezh region,
          Moskovskiy Pr. 7, Office TsPOSN


YUKOS OIL: Rosneft Settles Yukos Debt to Western Banks
------------------------------------------------------
State-owned Rosneft Oil Company has finally decided to pay back
the US$473 million outstanding debt of Yukos to a group of
Western banks, local daily Vedomosti says.

Rosneft is the new owner of former Yukos core production unit
Yuganskneftegaz, which guaranteed the debt with deliveries of
crude oil.  The debt is what remains of a US$1 billion loan
granted in 2003 by the banks led by France's Societe Generale,
Citigroup Inc., Deutsche Bank AG, Commerzbank AG, BNP Paribas
S.A., ING Bank N.V., Credit Lyonnais, and HSBC.

Yukos availed of the loan to pre-finance sale of oil and for
general corporate purposes.  It includes a three-year US$500
million loan facility and a five- year US$500 million loan
facility.  According to MosNews, Yukos stopped paying the banks
in December 2004 after Yugansk was sold.  The lenders claim
Yukos missed interest payments due in March and April 2005.  In
July, Yukos admitted receiving a notification of default.

Rosneft agreed to settle the loan before the end of the year
after the banks threatened to sue and warned of cross-default on
its own loans.  According to Western bankers and Rosneft
managers, Rosneft agreed to pay the remaining part of Yukos'
debt, but refused to fulfill guarantees for the second credit of
US$1.6 billion that was also taken out by Yukos.

Yukos is an oil-and-gas company headquartered in Moscow, Russia.
It filed for chapter 11 protection in December 2004 (Bankr. S.D.
Tex. Case No. 04-47742), but the case was dismissed in February.

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

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


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


SWISSAIR: Luxembourg Shareholders to Acquire Shares in Cargolux
---------------------------------------------------------------
On Dec. 19, 2005, M. Karl Wuethrich, co-liquidator of SAirLines
and the Luxembourgish shareholders of Cargolux, under the
coordination of M. Marc Hoffmann, chairman of the board of
Luxair, have jointly announced their agreement on a transaction
providing for the acquisition of the 33.7% of Cargolux shares
currently held by SAirLines.  The transaction will be executed
by Luxair on behalf of all the Luxembourgish shareholders
(Luxair - 34.9%; BGL Investment Partners - 11.5%; BCEE - 8.8%;
SNCI - 8.6%; Lux-AVANTAGE - 2.2%).

                        About the Company

Swissair collapsed in 2001 after accumulating debt in relation
to significant investments in a number of European airlines
including Sabena, Air Liberte of France and Turkish Airlines.
It defaulted on the debt during the slump that followed the
September 11 terrorist attacks in the U.S.

CONTACT:  WENGER PLATTNER
          Web site: http://www.liquidator-swissair.ch
          Filippo Th. Beck, Liquidator
          Phone: 043 222 38 00
          Fax: 043 222 38 01


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


ALMAZ: Insolvency Manager Takes over Operations
-----------------------------------------------
The Economic Court of Lviv region commenced bankruptcy
proceedings against Almaz (code EDRPOU 22350077) on August 29,
2005 after finding the limited liability company insolvent.  The
case is docketed as 6/158-29/171.  Mr. Vitalij Vinnikov (License
Number AA 779141) has been appointed liquidator/insolvency
manager.  The company holds account number 26005000628001 at JSC
Ukrinbank, MFO 385826.

CONTACT:  ALMAZ
          79063, Ukraine, Lviv region,
          Volodimir Velikij Str. 52

          VITALIJ VINNIKOV
          Liquidator/Insolvency Manager
          Ukraine, Lviv region,
          Pustomiti, Sportivna Str. 2/9

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


ATLAS-MASTER: Goes into Liquidation
-----------------------------------
The Economic Court of Kyiv region commenced bankruptcy
proceedings against LLC Atlas-Master (code EDRPOU 32769251) on
November 17, 2005 after finding the limited liability company
insolvent.  The case is docketed as 43/878.  Ms. Svitlana Babich
has been appointed liquidator/insolvency manager.  The company
holds account number 2600700890099 at JSCB Pravex-Bank, Kyiv
branch, MFO 321983.

CONTACT:  ATLAS-MASTER
          02093, Ukraine, Kyiv region,
          Borispilska Str. 19

          SVITLANA BABICH
          Liquidator/Insolvency Manager
          04053, Ukraine, Kyiv region,
          Artema Str. 1/5, office 701

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


ENERGETIK: Under Bankruptcy Supervision
---------------------------------------
The Economic Court of Sumi region commenced bankruptcy
supervision procedure on Energetik on November 21, 2005.  The
case is docketed as 12/107-05.  Mr. Yevgen Chuprun (License
Number AB 176263) has been appointed temporary insolvency
manager.

CONTACT:  ENERGETIK
          41200, Ukraine, Sumi region,
          Yampil

          YEVGEN CHUPRUN
          Temporary Insolvency Manager
          Ukraine, Sumi region,
          Petropavlivska Str. 74, Room 49-A

          ECONOMIC COURT OF SUMI REGION
          40030, Ukraine, Sumi region,
          Shevchenko Avenue 18/1


OSIRIS: Insolvency Manager Enters Firm
--------------------------------------
The Economic Court of Donetsk region commenced bankruptcy
proceedings against Osiris (code EDRPOU 32389059) on November
21, 2005 after finding the limited liability company insolvent.
The case is docketed as 42/200 B.  Ruteks-Export has been
appointed Liquidator.  The company holds account number
2005010110800 at CB Yuzgkombank, Donetsk branch, MFO 335946.

CONTACT:  OSIRIS
          83052, Ukraine, Donetsk region,
          Shahtobudivnikiv Boulevard 19

          LIQUIDATOR/INSOLVENCY MANAGER
          83052, Ukraine, Donetsk region,
          Illicha Avenue 80

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


P0ODILSKE: Declared Insolvent
-----------------------------
The Economic Court of Cherkassy region commenced bankruptcy
proceedings against Podilske (code EDRPOU 00851382) on November
15, 2005 after finding the limited liability company insolvent.
The case is docketed as 14/1447.  Mr. Sergij Nazarenko has been
appointed liquidator/insolvency manager.

CONTACT:  PODILSKE
          Ukraine, Cherkassy region,
          Zolotonosha district, Podilske

          SERGIJ NAZARENKO
          Liquidator/Insolvency Manager
          18000, Ukraine, Cherkassy region,
          Dobrovolskij Str. 3/1-25
          Phone: 8 (0472) 43-22-93
                 8 (050) 464-03-04

          ECONOMIC COURT OF CHERKASSY REGION
          18005, Ukraine, Cherkassy region,
          Shevchenko Avenue 307


UKRTATNAFTA-HERSON: Court Appoints Insolvency Manager
-----------------------------------------------------
The Economic Court of Herson region commenced bankruptcy
proceedings against Ukrtatnafta-Herson (code EDRPOU 30329919) on
October 21, 2005 after finding the limited liability company
insolvent.  The case is docketed as 6/105-B-05.  Ms. Tetyana
Paseka (License Number AA 783241) has been appointed
liquidator/insolvency manager.

CONTACT:  UKRTATNAFTA-HERSON
          Ukraine, Herson region,
          Tiraspiska Str. 60-a

          TETYANA PASEKA
          Liquidator/Insolvency Manager
          Ukraine, Herson region,
          9 Sichnya Str. 15, Office 53
          Phone/Fax: 8 (0552) 54-76-82

          ECONOMIC COURT OF HERSON REGION
          73000, Ukraine, Herson region,
          Gorkij Str. 18


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


A.C.S. BUSINESS: Calls in Liquidator
------------------------------------
K. A. Allen, director of A.C.S. Business Consultants Limited,
informs that the extraordinary and ordinary resolutions to wind
up the firm were passed at an EGM held on Nov. 23 at the offices
of Parkin S. Booth & Co, Abbeydale, 24 Trinity Square, Llandudno
LL30 2RH.  Robert M. Rutherford of Parkin S Booth & Co,
Abbeydale, 24 Trinity Square, Llandudno LL30 2RH was appointed
liquidator.

CONTACT:  PARKIN S. BOOTH & CO.
          Abbeydale
          24 Trinity Square
          Llandudno
          Gwynedd LL30 2RH
          Phone: 01492 871474
          Fax: 01492 871475
          E-mail: rmr@parkinsbooth.co.uk


AEGIS INSURANCE: Appoints Joint Liquidators
-------------------------------------------
G. J. Lancaster, chairman of Aegis Insurance Brokers Limited,
informs that resolutions to wind up the company were passed at
an EGM held on Nov. 17 at Devonshire House, 60 Goswell Road,
London EC1M 7AD.

Nicholas John Miller and Ian Robert of Kingston Smith & Partners
LLP, Devonshire House, 60 Goswell Road, London EC1M 7AD were
appointed Joint Liquidators.

CONTACT:  AEGIS INSURANCE BROKERS LIMITED
          Icknield House, Eastcheap
          Letchworth
          Hertfordshire
          SG6 3DF
          Phone: 01462 480367
          Fax: 01462 482507
          E-mail: letchworth@aegispolicies.co.uk
          Web site: http://www.aegispolicies.co.uk

          KINGSTON SMITH AND PARTNERS LLP
          Devonshire House, 60 Goswell Road,
          London EC1M 7AD
          Phone: 020 7566 4000
          Fax:   020 7566 4010
          Web site: http://www.kingstonsmith.co.uk


ALLEN CHARLTON: Hires Tenon Recovery to Liquidate Business
----------------------------------------------------------
T. C. Jones, director of Allen Charlton Associates Limited,
informs that resolutions to wind up the company were passed at
an EGM held no Nov. 23 at Lyndean House, 43-46 Queens Road,
Brighton BN1 3XB.

Ian Cadlock and A. J. Pear of Tenon Recovery, Lyndean House, 43-
46 Queens Road, Brighton BN1 3XB were appointed Joint
Liquidators.  The appointment was confirmed at a creditors
meeting held the same day.

CONTACT:  ALLEN CHARLTON ASSOCIATES LIMITED
          133 High Street, Hurstpierpoint
          Hassocks, West Sussex BN6 9PU
          Phone: 01273834837

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


BJM TRADING: Furniture Firm Folds up
------------------------------------
Mark Bean, chairman of BJM Trading Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Nov. 17 at 48 Langham Street, London W1W 7AY.

S. P. J. Wadsted of Middleton Partners, 48 Langham Street,
London W1W 7AY was appointed liquidator.

BJM Trading in Northern England makes leather sofas, dining
furniture, bedroom furniture, beds and mattresses.  Its products
are distributed as Interline Italia.

CONTACT:  BJM TRADING LIMITED
          Unit 3B, Airedale Ind. Est.,
          Kitson Road, Hunslet, Leeds
          LS10 1NT
          Phone: 01132 444450
          Fax: 01132 444440
          Web Site: http://www.wholesale-furniture.co.uk/
          Contact:
          Mark Bean, Managing Director, CEO

          MEDDLETON PARTNERS
          48 Langham Street
          London W1W 7AY
          Phone:  0845 061 6000
                  020 7908 6190
          Fax: 020 7908 6111
          E-mail: enquiries@middletonpartners.co.uk
          Web site: http://www.middletonpartners.co.uk


BLAKES OF MONTPELLIER: Files for Liquidation
--------------------------------------------
S. Brown, Director of Blakes of Montpellier Limited, informs
that the extraordinary resolutions to wind up the firm was
passed at an EGM held on Nov. 22 at Hepworth Joyce Associates
Ltd., 29 Brunswick Road, Gloucester GL1 1JE.  M. C. Hepworth of
Hepworth Joyce Associates Ltd, Unit 2, Clarke Hall Farm,
Aberford Road, Wakefield WF1 4AL was appointed liquidator.

CONTACT:  HEPWORTH JOYCE ASSOCIATES LTD.
          Unit 2, Clarke Hall Farm,
          Aberford Road, Wakefield WF1 4AL


CLARPO MANUFACTURERS: Cheap Imports Kill Local Shirt Maker
----------------------------------------------------------
Cheap imports from China have claimed another victim.  Clarpo
Manufacturers Limited blamed the deluge of Chinese shirts and
blouses in the market for its decision to halt operations just
before Christmas, The Daily Post reported on December 30.

The family-run company, which has been operating in Bagillt,
North Wales since 1946, said there is no way it can "trade out
of its difficulties."  The closure leaves 22 jobless.

Liquidator Begbies Traynor, following a meeting with creditors
recently, issued this statement: "Clarpo Manufacturers has
decided to close its doors after almost 60 years of trading due
to the fact that goods can now be produced in China and Africa
far cheaper than can be produced in the U.K.

"In addition to the problem, the minimum wage which has gone up
over the last two years from GBP3.85 to its current level of
GBP5.05 has increased the company's overhead base and has
reduced margins considerably.  The directors are extremely sad
at the closure of the business."

The company, which can make up to 1,200 shirts and blouses a
week, used to supply the London and Kent Fire Brigades, the
Welsh Ambulance Service and Sharp Manufacturing.

CONTACT:  CLARPO MANUFACTURERS LTD.
          Unit 13
          Manor Industrial Estate
          Flint, Flintshire CH6 5UY
          Phone: 01352 712183
          Fax: 01352 713193
          E-mail: clarpoltd@btconnect.com
          Web site: http://www.clarpo.com


D K STONE: Liquidators from Begbies Traynor Take over Firm
----------------------------------------------------------
K. Stalholt, chairman of D K Stone Limited, informs that the
extraordinary and ordinary resolutions to wind up the firm were
passed at an EGM held on Nov. 22 at Chiltern House, 24-30 King
Street, Watford WD18 0BP.  Richard Andrew Segal and Paul Michael
Davis of Begbies Traynor (South) LLP, Chiltern House, 24-30 King
Street WD18 0BP were appointed joint liquidators.

CONTACT:  BEGBIES TRAYNOR
          Chiltern House,
          24-30 King Street,
          Watford WD18 0BP
          Phone: 01923 812900
          Fax:   01923 812999
          Web site: http://www.begbies.com


GREAVE AND THORNTON: Names Kakouris & Michaelides Liquidator
------------------------------------------------------------
A. Iqbal, chairman of Greave And Thornton Investments Ltd.,
informs that the extraordinary resolutions to wind up the
company were passed at an EGM held on Nov. 24 at 43 Blackstock
Road, London N4 2JF.  Andreas Georgiou Kakouris of 43 Blackstock
Road, London N4 2JF was nominated liquidator.

CONTACT:  KAKOURIS & MICHAELIDES
          43 Blackstock Road
          London N4 2JF
          Phone: 020 7226 6196
          Fax: 020 7704 6500
          E-mail: info@agkakouris.co.uk


GREEN TREES: Tenon Recovery Liquidator Enters Firm
--------------------------------------------------
D. Hart, chairman of Green Trees Trading Limited (formerly Hart
Worldwide Limited), informs that the subjoined extraordinary
resolution to wind up the company was passed at an EGM held on
Nov. 17 at 73 Baker Street, London W1U 6RD.  D. R. Beat of Tenon
Recovery, 6th Floor, Salisbury House, 31 Finsbury Circus, London
EC2M 5SQ was appointed liquidator.

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


HI-TECH (SOUTH): Calls in Chantrey Vellacott Liquidator
-------------------------------------------------------
R. Acland, chairman of Hi-Tech (South) Limited, informs that the
subjoined extraordinary resolution to wind up the firm was
passed at an EGM held on Nov. 17 at Town Wall House, Balkerne
Hill, Colchester, Essex CO3 3AD.  J. C. Heath of Chantrey
Vellacott DFK, Town Wall House, Balkerne Hill, Colchester, Essex
CO3 3AD, and K. W. Touhey of Chantrey Vellacott DFK, 16-17
Boundary Road, Hove, East Sussex BN3 4AN were appointed joint
liquidators.

Hi Tech -- http://www.hi-tech-south.co.uk/-- provides a unique
blend of IT services to a diverse range of customers.

CONTACT:  HI TECH SUPPORT LTD.
          The Black Barn
          The Folley
          Layer-de-la-Haye
          Colchester
          Essex CO2 0HZ
          Phone: +44(0) 1206 235 000
          Fax: +44(0) 1206 235 001
          E-mail: info@htssupport.com

          CHANTREY VELLACOTT DFK
          Town Wall House
          Balkerne Hill
          Colchester CO3 3AD
          Phone: 01206 578 004
          Fax: 01206 763 386
          E-mail: jheath@cvdfk.com

          CHANTREY VELLACOTT DFK
          16-17 Boundary Road,
          Hove, East Sussex BN3 4AN
          Phone: 01273 421200
          E-mail: info_hove@chantrey-vellacott.com
          Web site: http://www.cvdfk.com


HUNTS PATIO: Opts for Liquidation
---------------------------------
S. Farrington, director of Hunts Patio World Limited, informs
that the extraordinary and ordinary resolutions to wind up the
firm were passed at an EGM held on Nov. 15 at Novotel Coventry,
Wilsons Lane, Longford, Coventry CV6 6HL.  Peter Anthony Jackson
was appointed liquidator.

CONTACT:  JACKSON GREGORY & CO.
          14 Wood Street
          Bolton BL1 1DZ
          Phone: 01204 397973
          Fax: 01204 387833
          E-mail: mail@jacksongregory.co.uk


IN CAR: Calls in David Rubin & Partners
---------------------------------------
R. Dattani, chairman of In Car Entertainment (UK) Limited,
informs that the extraordinary resolution to wind up the firm
was passed at an EGM held on Nov. 18 at David Rubin & Partners,
1st Floor, 26-28 Bedford Row, London WC1R 4HE.  Paul Appleton of
David Rubin & Partners, 1st Floor, 26-28 Bedford Row, London
WC1R 4HE was appointed liquidator.

CONTACT:  IN CAR ENTERTAINMENT UK LTD.
          The Vale London W3 7RD
          Phone: 020 87435533
          Fax: 020 8742944

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


JOINERS LIVE: Hires HJS Recovery as Liquidator
----------------------------------------------
M. Chapman, chairman of Joiners Live Limited, informs that the
extraordinary and ordinary resolutions to wind up the firm were
passed at an EGM held on Nov. 22 at Jurys Inn Southampton, 1
Charlotte Place, Southampton, Hampshire SO14 0TB.  Gordon
Johnston of hjs Recovery, 12-14 Carlton Place, Southampton,
Hampshire SO15 2EA was appointed liquidator.

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


KEY GUARDING: Names Jackson Jolliffe Cork Liquidator
----------------------------------------------------
M. Hayward, chairman of Key Guarding Services Limited, informs
that the extraordinary and ordinary resolutions to wind up the
firm were passed at an EGM held on Nov. 16 at Campanile Hotel,
Beverley Road, Freetown Way, Hull HU2 9AN.  Matthew Colin Bowker
and David Antony Willis of Jacksons Jolliffe Cork, Lowgate
House, Lowgate, Hull HU1 1EL were appointed joint liquidators.

CONTACT:  KEY GUARDING SERVICES LTD.
          Suite 10 Dunston House,
          Livingstone Rd., Hessle HU13 0EG
          Phone: 01482 642255
          Fax: 01482 640926

          JACKSON JOLLIFFE CORK
          Lowgate House,
          Lowgate, Hull HU1 1EL
          Web site: http://www.jjcork.co.uk


KINGSTON TILE: Appoints Liquidator from Gibson Hewitt & Co.
-----------------------------------------------------------
A. Halsey, chairman of Kingston Tile Company Limited, informs
that the extraordinary resolution to wind up the firm was passed
at an EGM held on Nov. 22 at 5 Park Court, Pyrford Road, West
Byfleet, Surrey.  Lynn Gibson and Robert David Hewitt of Gibson
Hewitt, 5 Park Court, Pyrford Road, West Byfleet, Surrey were
appointed joint liquidators.

CONTACT:  KINGSTON TILE CO. LTD
          The Tile Shop
          41 London Road
          Kingston Upon Thames
          Surrey KT2 6ND
          Phone: (020) 8546 3394
          Fax: (020) 8546 3507
          Web site: http://www.kingstonmosaic.com

          GIBSON HEWITT & CO
          5 Park Court
          Pyrford Road
          West Byfleet
          Surrey KT14 6SD
          Phone: 01932 336149
          Fax: 01932 336150
          E-mail: robert@gibsonhewitt.co.uk


KODICOM EUROPE: DVR Maker Files for Liquidation
-----------------------------------------------
K. S. Kim, chairman of Kodicom Europe Limited, informs that the
subjoined extraordinary resolution to wind up the firm was
passed at an EGM held on Nov. 15 at BDO Stoy Hayward LLP, 8
Baker Street, London W1U 3LL.  Malcolm Cohen and Antony David
Nygate of BDO Stoy Hayward LLP, 8 Baker Street, London W1U 3LL
were appointed joint liquidators.

Kodicom Europe Ltd. -- http://www.kodicomeu.com/-- manufactures
digital video recorders.

CONTACT:  KODICOM EUROPE LTD.
          Unit 5 Kingsmill Business Park
          Chapel Mill Road, Off Villiers Road
          KT1 3AP Kinston-Upon
          United Kingdom
          Phone: +44 20 85-46-9111
          Fax: +44 20 85-46-1872

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


LE DOVE: Liquidator Takes over Firm
-----------------------------------
C. Boreham, director of Le Dove Limited, informs that the
extraordinary and ordinary resolutions to wind up the firm were
passed at an EGM held on Nov. 16 at Sheraton House, Castle Park,
Cambridge CB3 0AX.  Andrew McTear of McTear Williams & Wood, 90
St Faiths Lane, Norwich NR1 1NE was appointed liquidator.

CONTACT:  MCTEAR WILLIAMS & WOOD
          90 St Faiths Lane,
          Norwich NR1 1NE
          Phone: 01603 877540
          Fax: 01603 877549
          E-mail: mail@mw-w.com
          Web site: http://www.mw-w.com


MILDMANOR LIMITED: Begbies Traynor to Liquidate Assets
------------------------------------------------------
N. Hector, chairman of Mildmanor Limited, informs that the
extraordinary and ordinary resolutions to wind up the firm were
passed at an EGM held on Nov. 15 at 1 Winckley Court, Chapel
Street, Preston PR1 8BU.  David P. Appleby of Begbies Traynor, 1
Winckley Court, Chapel Street, Preston, Lancashire PR1 8BU was
appointed liquidator.

CONTACT:  MILDMANOR LTD.
          4th Floor
          Gainsborough House
          109 Portland Street
          Manchester M1 6DN

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


M & M SECURITY: Hires Wilson Pitts Liquidator
---------------------------------------------
M. Wilson, director of M & M Security Services Ltd., informs
that the extraordinary and ordinary resolutions to wind up the
firm were passed at an EGM held on Nov. 16 at Premier Travel
Inn, Northern Perimeter Road, Bootle L30 7PT.  D. F. Wilson and
J. N. R. Pitts were appointed joint liquidators.

CONTACT:  M & M SECURITY SERVICES (MANCHESTER) LTD.
          25 Manchester Road,
          Bury, Lancashire BL9 9HL
          Phone: 01617631202

          WILSON PITTS
          Glendevon House
          Hawthorn Park
          Coal Road
          Leeds
          West Yorkshire LS14 1PQ
          Phone: 0113 237 5560
          Fax: 0113 237 5561


NEW CONCEPT: Appoints Joint Liquidators from Tenon Recovery
-----------------------------------------------------------
S. Bray, chairman of New Concept Creative Limited, informs that
a resolution to wind up the company was passed at an EGM held on
Nov. 16 at Highfield Court, Tollgate, Chandlers Ford, Eastleigh
SO53 3TZ.

Nigel Ian Fox and Carl Stuart Jackson of Tenon Recovery,
Highfield Court, Tollgate, Chandlers Ford, Eastleigh, Hampshire
SO53 3TZ were appointed Joint Liquidators.  The appointment was
confirmed at a creditors meeting held the same day.

CONTACT:  NEW CONCEPT CREATIVE LTD.
          Unit 2 Upr Norwich Road
          Bournemouth, Dorset BH2 2RA
          Phone: 01202587872

          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


ORANGE SCAFFOLDING: Begbies Traynor Liquidators Move in
-------------------------------------------------------
J. J. Horrigan, chairman of Orange Scaffolding Cardiff Limited,
informs that resolutions to wind up the company were passed at
an EGM held on Nov. 18 at 5th Floor, Riverside House, 31
Cathedral Road, Cardiff.

John W. Davies and David Hill of Begbies Traynor, 5th Floor,
Riverside House, 31 Cathedral Road, Cardiff CF11 9HB were
appointed Joint Liquidators.

CONTACT:  ORANGE SCAFFOLDING CARDIFF LTD.
          372 Cowbridge Rd East
          Cardiff
          CF5 1HE
          Phone: 029 2022 8423

          BEGBIES TRAYNOR
          4th Floor, Riverside House,
          31 Cathedral Road, Cardiff CF11 9HB
          Phone: 029 2022 5022
          Fax: 029 2022 4523
          E-mail: cardiff@begbies-traynor.com
          Web site: http://www.begbies.com


PRESTIGE HOMES: Goes into Liquidation
-------------------------------------
B. Taylor, chairman of Prestige Homes (Southern) Limited,
informs that a resolution to wind up the company was passed at
an EGM held on Nov. 18 at David Rubin & Partners, Pearl
Assurance House, 319 Ballards Lane, London N12 8LY.  Henry Lan
of David Rubin & Partners, Pearl Assurance House, 319 Ballards
Lane, London N12 8LY was appointed liquidator.

CONTACT:  PRESTIGE HOMES (SOUTHERN) LIMITED
          Symal House
          Edgware Road
          London
          NW9 0HU
          Phone: 020 89058855

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


SOUTH BUCKS: Files for Liquidation
----------------------------------
R. Alabaster, director of South Bucks Tools Ltd., informs that a
resolution to wind up the company was passed at an EGM held on
Nov. 22 at 21-23 Station Road, Gerrards Cross, Buckinghamshire
SL9 8ES.  Helen Timothe Phillips of 21-23 Station Road, Gerrards
Cross, Buckinghamshire SL9 8ES was appointed liquidator.

CONTACT:  SOUTH BUCKS TOOLS LTD.
          6 Britannia Industrial Park
          Dashwood Avenue, High Wycombe
          Buckinghamshire HP12 3ES
          Phone: 01494449959

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


SYNAPSE CREATIVE: Creditors Okay Appointment of Liquidator
----------------------------------------------------------
R. E. G. Walker, chairman of Synapse Creative Limited, informs
that resolutions to wind up the company were passed at an EGM
held on Nov. 22 at MWB Business Exchange, 77 Oxford Street,
London W1D 2ES.

A. Graham of Hamilton Insolvency Practitioners Limited, Omega
Court, 368 Cemetery Road, Sheffield S11 8FT was appointed
liquidator.  The appointment was confirmed at a creditors
meeting held the same day.

CONTACT:  SYNAPSE CREATIVE LTD.
          18 Paramount Ind. Estate
          Sandown Road
          Watford
          WD24 7XG
          Phone: 44 (0) 1923 239 444
          Fax: 44 (0) 1923 237 003
          Web site: http://www.synapse-creative.com/


TALKING HEADS: In Liquidation
-----------------------------
L. Power, director of Talking Heads Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Nov. 18 at 20 Winmarleigh Street, Warrington, Cheshire WA1 1JY.
Robert W. Keating of R. W. Keating & Co, 20 Winmarleigh Street,
Warrington, Cheshire WA1 1JY was appointed liquidator.

CONTACT:  TALKING HEADS LTD.
          15 Market Pl, Selby, YO8 4PB
          Phone: 01757 702934

          R. W. KEATING & CO.
          2nd Floor
          20 Winmarleigh Street
          Warrington
          Cheshire WA1 1JY
          Phone: 01925 245004
          Fax: 01925 245357
          E-mail: robert@rwkeating.fsnet.co.uk


UNWINS WINE: Selling 150 More Outlets
-------------------------------------
Submission of bids for the remaining 150 off-licenses owned by
The Unwins Wine Group Ltd. ended 5 p.m. yesterday.  A number of
local retail traders and property companies, including rivals
Whittalls Wines and Oddbins, were expected to be among those
that submitted offers for individual outlets.

Threshers, owned by Terra Firma Capital Partners, recently
bought 200 Unwins outlets for less than GBP10 million from KPMG,
the company's administrator.  It opened around 70 outlets in
time for the New Year.  The 162-year-old Unwins Wine Group
operates 380 shops and wholesale drinks outlets.  It employs
2,000 mostly part-time staff; Threshers hopes to save 1,200 of
them.

Unwins was sold by controlling Wetz family to Australian
businessman Philipp Cook's DM Private Equity for GBP32 million
in March.  In December, its banker HBOS appointed Myles Halley
of KPMG as administrator.  Recent accounts of Unwins filed at
the Companies House, showed debt of GBP35.5 million, including
GBP9.5 million in bank loans and overdrafts and GBP19.5 million
to trade creditors.

According to The Telegraph, Phillip Cook, chairman of Unwins and
DM Equity, confirmed before Christmas that he intended to file a
claim against former Unwins shareholders, directors and
auditors.  According to him, Unwins had a deficit of GBP3.7
million instead of a net asset value of GBP9.5 million.

CONTACT:  THE UNWINS WINE GROUP LTD.
          Birchwood House
          Victoria Road
          Dartford
          Kent
          DA1 5AJ
          Phone: 013 2227 2711
          E-mail: jturner@unwins.co.uk
          Web site: http://www.unwins.co.uk

          KPMG
          Aquis Court,
          31 Fishpool Street,
          St Albans, AL3 4RF
          Phone: 0500 644665
          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 2006.  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
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