TCREUR_Public/060112.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

            Thursday, January 12, 2006, Vol. 7, No. 9

                            Headlines

C Z E C H   R E P U B L I C

MORAVAN-AEROPLANES: Irish Firm Lodges Lone Bid
VSEOBECNA ZDRAVOTNI: Health Workers Mull Strike over Delayed Pay


F R A N C E

BURGESS NORTON: Management Declares Insolvency
METALEUROP S.A.: Staging Market Comeback Next Week


G E R M A N Y

AEG HAUSGERATE: Union Scores Indifference to Workers' Welfare
A. KOLKHORST: Bielefeld Court Appoints Administrator
ALLGEMEINE HYPOTHEKENBANK: Minority Owners Balk at Rehab Plan
ALTRACO GMBH: Proofs of Claim Due Later this Month
CARE TECHNOLOGY: Creditors to Meet Next Month

CDK-CREATIVE: Under Bankruptcy Administration
DAIMLERCHRYSLER AG: Chrysler Stepping up Capacity
HEHO WOHNBAU: Duesseldorf Court Calls in Administrator
K&Z LOGISTIK: Essen Business Goes Bankrupt
MBS MASCHINEN: Court to Verify Claims March

PROSIEBENSAT.1 MEDIA: Media Regulator Blocks Axel Takeover
SELBSTKLEBETECHNIK GMBH: Aalen Court Names Pluta Administrator
SK HOTELBETRIEBSGESELLSCHAFT: Falls into Bankruptcy
TC TRUSTCENTER: IT Security Biz Sold to U.S. Firm
VEREINS DEUTSCHES: Claims Filing Period Ends February 22


I R E L A N D

ELAN CORPORATION: EntreMed Gets Rights to NanoCrystal Technology


I T A L Y

ALITALIA SPA: Denies Changes to Merger Timetable
AVIO S.P.A.: B+ Rating Affirmed After Senior Debt Refinancing
TISCALI S.P.A.: Claiming CZK44 Million Against Cesky Telecom


K Y R G Y Z S T A N

AIREK: Under Bankruptcy Supervision
EKOSVET: Sets Proofs of Claim Deadline
OMEGA-BUSINESS: Gives Creditors Until Next Month to File Claims
REMAXA-SOUTH: Creditors' Claims Due February
TECHNO-TRANZIT: Proofs of Claim Deadline Set


N E T H E R L A N D S

GETRONICS N.V.: Takes over Mercator's IT Contracts
ROYAL SHELL: Share Buyback Program Continues


P O L A N D

STOCZNIA GDYNIA: Prepares to Sell Subsidiary


R U S S I A

AGRYZ-AGRO-PROM-STROY: Succumbs to Bankruptcy
ENERGY-MONTAGE: Bankruptcy Hearing Set Next Week
KEMEROVSKIY: Claims Filing Period Ends Today
MOTORIST: Insolvency Manager Takes over Firm
OREL-GAS-STROY: Orel Court Opens Bankruptcy Proceedings

PASHINSKIY COMBINE: Declared Insolvent
SIEMENS: Insolvency Manager Enters Firm
TUKANSKOYE MINE: Undergoes Bankruptcy Supervision Procedure
TYUMEN-OIL-GAS-MASH: Bankruptcy Hearing Set Today
VILYUYSKOYE ENTERPRISE: Bankruptcy Supervision Begins


S W I T Z E R L A N D

SWISS INTERNATIONAL: Seat Load Factor Improves Significantly


U K R A I N E

AGROPROMTEHNIKA: Declared Insolvent
ENERGETIC-NKZ: Bankruptcy Supervision Starts
KOMETEKS LTD.: Creditors' Claims Due Weekend
LUGRESURS: Appoints Insolvency Manager
RIVNE' BREAD: Declares Bankruptcy
ZOLOTE RUNO: Under Bankruptcy Supervision


U N I T E D   K I N G D O M

ALEXON GROUP: Christmas Trading Fails to Lift 2nd-half Results
AMBERLEE UK: Administrator from Bond Partners Moves in
APP AUTOMOTIVE: Meeting of Creditors Set Today
BELIMO LTD.: Liquidator from Begbies Traynor Moves in
BEST BLOOMS: Creditors Meeting Set Next Week

CHARACTER GROUP: Trading Upturn Carries on into the New Year
CLYDESDALE BANK: Branch Closures Continue
CONTROL ENGINEERING: Calls in Administrator
INTERTEK GROUP: Unit Signs PSI Deal Extension with Mozambique
INTERTEK GROUP: To Unveil Preliminary Results March

J. A. MARSHALL: Names Begbies Traynor Administrator
JOHN LAING: Blames Cash-flow Troubles for Insolvency
LANGBAR INTERNATIONAL: Shareholders Suspect Short-selling
LEWIS & MANLEY: Metal Parts Maker Winds up
MARKS & SPENCER: U.K. Sales Up 4.8%

MARLOW ROPES: FKI Buys Marine, Offshore Ropes Business
MERIDIAN WINDOWS: Files for Liquidation
MG ROVER: Nanjing in Final Talks over Investment
M L T PITTS: Non-life Insurance Firm Liquidates
MYRIAD TRADE: Calls in Administrators from Begbies Traynor

NIX TECHNOLOGIES: Names Mercer & Hole Administrator
NOUVELLE ENGINEERING: Calls in Liquidator
PAN PRESENTATIONS: Event Organizer Liquidates
PREMIER OFFICE: Supplier Calls in Administrator
READYBAKE (UK): Appoints Sanderlings Administrator

RED HOT: Publishing Firm Contacts Administrator
RED ROSE: Names Begbies Traynor Liquidator
SANCTUARY GROUP: Bankers Agree to Raise Facilities
SEA CONTAINERS: Names Robert Mackenzie President
SECOND CITY: Appoints Liquidators from Begbies Traynor

SPA NATION: Administrators from DTE Leonard Curtis Enter Firm
STORM DESIGN: Goes into Liquidation
SUPERCLEAN (EAST ANGLIA): In Liquidation
TMC INNOVATIONS: Appoints Joint Liquidators
TOO CO: Administrator from Bond Partners Moves in

UK CIRCUITS: Enters Administration
WADEBAY LIMITED: Travel Agent Hires Administrator
WM MORRISON: Closure of Two Depots Affects 1,600 Workers
YEOMANS DEVELOPMENTS: Names Middleton Partners Administrator


                            *********


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


MORAVAN-AEROPLANES: Irish Firm Lodges Lone Bid
----------------------------------------------
Only one bidder had submitted an offer for bankrupt aircraft
maker Moravan-Aeroplanes a.s. when the deadline expired on
Monday.  Receiver Petr Hajtmar identified the bidder as
QucomHaps, an Irish firm, according to Czech Happenings.

QucomHaps will be asked to submit a final offer once it meets all
formal requirements.  The bidder had previously failed to meet
the sale criteria.

The report said aspiring bidder for Moravan-Aeroplanes are
required to buy all assets of the firm and its former parent,
Moravan, to be able to operate the company as a functioning unit.
Both companies were controlled by entrepreneur Libor Soska.

Moravan-Aeroplanes produces the all-metal ZLIN aircraft ZLIN Z
142C, Z 242L, Z 143L and Z 143Lsi, including spare parts.  It
also operates a service center, which is also included in the
sale.  The company has 200 staff.

The Regional Court in Brno declared the company bankrupt on June
18, 2004 at the request of management and employees.  The company
owes employees wages worth CZK12 million, over CZK60 million in
social security premiums and CZK11 million in taxes.

CONTACT:  MORAVAN-AEROPLANES a.s.
          Letiste 1578
          765 81 Otrokovice
          Phone: +420 576 083 901
          Fax: +420 576 083 929
          E-mail: m.aeroplanes@moravan.cz\


VSEOBECNA ZDRAVOTNI: Health Workers Mull Strike over Delayed Pay
----------------------------------------------------------------
Health Minister David Rath is seeking the speedy release of the
insurance premium the government pays to Vseobecna zdravotni
Pojistovna Ceske Republiky (VZP) for a selected group of people.

He has reportedly approached Finance Minister Bohuslave Sobotka
about the CZK3 billion annual premium for children, pensioners,
and the unemployed.  Finance Ministry spokesman Jaroslav Ruzek
says VZP must request its release like it usually does every
year.  The company has not done so yet, he said.

The sum, used to pay doctors and hospitals, is already delayed by
more than a month, according to the report.  Health workers have
threatened to go on strike.

The Health Ministry placed VZP under forced administration on
Nov. 10 and appointed Antonin Pecenka administrator.  Its
director Jirina Musilkova was supposed to resign by Jan. 1, but
she decided against it pending her dismissal and the election of
a new director.

CONTACT:  VSEOBECNA ZDRAVOTNI POJISTOVNA CESKE REPUBLIKY
          Orlicka 4/2020
          130 00 Praha 3
          Phone: 221 751 111
          E-mail: info@vzp.cz
          Web site: http://www.vzp.cz


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


BURGESS NORTON: Management Declares Insolvency
----------------------------------------------
U.S. automotive component manufacturer Burgess Norton is
insolvent, according to Les Echos.

According to the paper, management has informed workers that the
company, based in Vieux-Charmont, will apply for liquidation or
composition proceedings to continue operating under a
court-appointed administrator.

Workers have been on strike since mid-November after learning of
management's plan to remove machines from the site.  The company
employs 70 people.

CONTACT:  BURGESS NORTON MANUFACTURING CO.
          Web site: http://www.burgessnorton.com


METALEUROP S.A.: Staging Market Comeback Next Week
--------------------------------------------------
Non-ferrous metals group Metaleurop S.A. is preparing to return
to the stock market, following the confirmation of its
continuation plan.

Metaleurop went into administration in January 2003, citing
financial difficulties at its Metaleurop Nord unit.  The
confirmation of the continuation plan two months ago followed a
favorable decision by the Paris Court of Appeals, which refused
to extend the liquidation of Metaleurop Nord.

Shares of the company traded at EUR0.54 when suspended, which
makes its market capitalization just EUR13 million.  It plans to
resume trading next week.

Metaleurop is one of the top refiners of zinc and lead for the
auto and construction industries.  In 2004, it posted US$9.5
million in profit on US$274.2 million sales.   The company had
turnover of EUR225 million last year.

CONTACT:  METALEUROP S.A.
          6 place de la Madeleine
          75008 Paris
          Phone: +33-1-42-99-48-48
          Fax: +33-1-42-99-48-99
          Web site: http://www.metaleurop.fr


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


AEG HAUSGERATE: Union Scores Indifference to Workers' Welfare
-------------------------------------------------------------
Talks between AEG Hausgerate and trade union IG Metall over
measures to soften the blow for workers at its Nuremberg site are
nearing an end, Frankfurter Allgemeine Zeitung says.

The negotiations have been ongoing since Swedish parent
Electrolux decided with finality in December to abandon the site
by 2007.  IG Metall, while lamenting the company's lack of
options for employees, said it will try to get the best
redundancy package for members.

Electrolux claims the plant is no longer competitive.  In
December, Johan Bygge, head of Electrolux's European and
Asian business, said: "There is no way to bridge the large cost
gap that would make production in Nuremberg competitive."

Germany's manufacturing wages, according to Bloomberg News, is
the second highest in the world, prompting multinational
companies like Electrolux to consider relocating jobs elsewhere.
Siemens, Samsung Electronics, and even Deutsche Telekom plan to
cut jobs, the latter targeting 32,000 over three years.

The closure will affect around 1,700 employees.  AEG hopes to
reach a deal with IG Metall before spring.  Part of Electrolux
since 1994, AEG is one of the leading brands in Germany.  In
2004, its turnover dropped by 3% to EUR13 billion and operating
profit by 13% to EUR712 million.

CONTACT:  AEG HAUSGERATE GMBH
          Muggenhofer Strasse 135
          D-90429 Nuremberg
          Phone: (0911) 323-0
          Fax: (0911) 323-1770
          Web site: http://www.aeg-electrolux.co.uk


A. KOLKHORST: Bielefeld Court Appoints Administrator
----------------------------------------------------
The district court of Bielefeld opened bankruptcy proceedings
against A. Kolkhorst, Baugeschaft mbH on December 28.
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 Stefan Meyer.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 10:00 a.m. at the district
court of Bielefeld, Gerichtstrasse 6, 33602 Bielefeld, 4. Ebene,
Saal 4065, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report during this
meeting, while creditors may constitute a creditors committee and
or opt to appoint a new insolvency manager.

CONTACT:  A. KOLKHORST, BAUGESCHAFT mbH
          Eichendamm 12, 32369 Rahden
          Contact:
          Alfred Kolkhorst, Manager

          Stefan Meyer, Administrator
          Ostertorstr. 7, 32312 Luebbecke


ALLGEMEINE HYPOTHEKENBANK: Minority Owners Balk at Rehab Plan
-------------------------------------------------------------
Dormant shareholders are challenging the recovery plan of
Allgemeine Hypothekenbank Rheinboden (AHBR), Handelsblatt says.

The shareholders, which include insurers DEVK and Volksfursorge
and cooperative bank DZ Bank, are unwilling to bear the cost of
the restructuring.  They are also raising questions regarding the
whereabouts of a EUR584 million trust fund put up by former
owners and have hired auditors to review the bank's interim,
2004, and 2005 accounts.

Trade union BGAG, the bank's majority owner, sold its stake to
Lone Star late last month.  The investment firm has promised to
inject sufficient capital to support the bank's repositioning
beginning FY2006.

                        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 trade union 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
bank 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


ALTRACO GMBH: Proofs of Claim Due Later this Month
--------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Altraco GmbH Ingenieurdienstleistungen on December 23.
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 Joachim Buettner.

Creditors and other interested parties are encouraged to attend
the meeting on February 24, 2006, 10:30 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:  ALTRACO GmbH INGENIEURDIENSTLEISTUNGEN
          Grossmoorring 4, 21079 Hamburg
          Contact:
          Dietmar Barainsky, Manager

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


CARE TECHNOLOGY: Creditors to Meet Next Month
---------------------------------------------
The district court of Charlottenburg opened bankruptcy
proceedings against Care technology Nova Plast GmbH on December
12.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until March 9,
2006 to register their claims with court-appointed provisional
administrator Knut Rebholz.

Creditors and other interested parties are encouraged to attend
the meeting on February 9, 2006, 9:35 a.m. at the district court
of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock
Saal 218, at which time the administrator will present his first
report of the insolvency proceedings.  The court will also verify
the claims set out in the administrator's report on April 6,
2006, 9:50 a.m. at the same venue.

CONTACT:  CARE TECHNOLOGY NOVA PLAST GmbH
          Schonhauser Allee 51,10437 Berlin

          Knut Rebholz, Administrator
          Cicerostr. 22, 10709 Berlin


CDK-CREATIVE: Under Bankruptcy Administration
---------------------------------------------
The district court of Essen opened bankruptcy proceedings against
CDK-Creative-Deko-Kozlowski GmbH on January 1.  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 Werner F.
Muehlenbrock.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 9:00 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 291, 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:  CDK-CREATIVE-DEKO-KOZLOWSKI GmbH
          Middelicher Str. 305, 45892 Gelsenkirchen
          Contact:
          Achim Kozlowski, Manager

          Werner F. Muehlenbrock, Administrator
          Bahnhofstr. 46, 45879 Gelsenkirchen
          Phone: 0209/1779520
          Fax: 0209-1779529


DAIMLERCHRYSLER AG: Chrysler Stepping up Capacity
-------------------------------------------------
Daimler's Chrysler division is eyeing to raise its annual
capacity by up to 43% in 2007, the Associated Press says.

The strategy comes just as rivals GM and Ford are reducing
production capacity in the U.S.  Unlike the two, whose figures
were down 4%, Chrysler's sales last year was up 5%.

Spokesman David Elshoff said Chrysler will not build new
production sites or hire more workers.  Instead, it will upgrade
existing facilities to boost production.  The company expects to
produce 3.5 million to 4 million units next year, from last
year's total output of 2.8 million.  Mr. Elshoff noted market
demand will have a great impact on actual production.

According to Harbour Report, which measures plant productivity,
Chrysler's 13 North American sites ran at 90% capacity in 2004,
in contrast to GM and Ford's 85%.

Chrysler Group's global vehicle sales increased to 2,826,131
units last year (2004: 2,697,280 units), 4.7%.  Sales were up
across Chrysler's global regions (U.S., Canada, Mexico and
International).  Global sales were boosted by the worldwide
appeal of products in key segments such as minivans, sport
utility vehicles and passenger sedans.

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


HEHO WOHNBAU: Duesseldorf Court Calls in Administrator
------------------------------------------------------
The district court of Duesseldorf opened bankruptcy proceedings
against HeHo Wohnbau GmbH on January 1.  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 Friedrich
Wilhelm Metzeler.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 9:00 a.m. at the district court
of Duesseldorf, Hauptstelle, Muehlenstrasse 34, 40213
Duesseldorf, 4. OG. Altbau, A 409, 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:  HEHO WOHNBAU GmbH
          Benrather Schlossallee 111, 40597 Duesseldorf
          Contact:
          Reinhold Hoffmann, Manager
          Arnold-Schonberg-Strasse 2, 40593 Duesseldorf

          Friedrich Wilhelm Metzeler, Administrator
          Rheinort 1, 40213 Duesseldorf


K&Z LOGISTIK: Essen Business Goes Bankrupt
------------------------------------------
The district court of Essen opened bankruptcy proceedings against
K&Z Logistik GmbH on January 1.  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 Rolf Weidmann.

Creditors and other interested parties are encouraged to attend
the meeting on February 21, 2006, 9:35 a.m. at the district court
of Essen, Hauptstelle, Zweigertstr. 52, 45130 Essen, 2. OG,
gelber Bereich, Saal 291, 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:  K&Z LOGISTIK GmbH
          Karl-Legien-Str. 3, 45356 Essen
          Contact:
          Walter van Acken, Manager
          Am Schiefers Grund 38 B, 40764 Langenfeld

          Rolf Weidmann, Administrator
          Alfredstr. 279, 45133 Essen
          Phone: 0201/437760
          Fax: 02014377620


MBS MASCHINEN: Court to Verify Claims March
-------------------------------------------
The district court of Bochum opened bankruptcy proceedings
against MBS Maschinen-Bagger-Schiffsbauelemente GmbH on December
31.  Consequently, all pending proceedings against the company
have been automatically stayed.  Creditors have until February
10, 2006 to register their claims with court-appointed
provisional administrator Bernd Depping.

Creditors and other interested parties are encouraged to attend
the meeting on March 16, 2006, 9:35 a.m. at the district court of
Bochum, Hauptstelle, Viktoriastrasse 14, 44787 Bochum,
Erdgeschoss, Saal A29, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  MBS MASCHINEN-BAGGER-SCHIFFSBAUELEMENTE GmbH
          Grenzweg 98, 44623 Herne
          Contact:
          Michael Murche, Manager
          Castroper Hellweg 469, 44805 Bochum

          Bernd Depping, Administrator
          Kunibertistrasse 9, 45657 Recklinghausen
          Phone: 02361/58208-88
          Fax: 02361/5821591


PROSIEBENSAT.1 MEDIA: Media Regulator Blocks Axel Takeover
----------------------------------------------------------
In its meeting on Jan. 10, 2006 the Commission for Determining
Concentration in the Media Sector (KEK) decided that, in relation
to the intended takeover of ProSiebenSat.1 Media AG by Axel
Springer AG, the prerequisites for the confirmation of
non-objection under applicable media-supervisory laws are not
given.  Reasons for the denial have not been given yet.

The State Media Institutions, which are competent to grant and
deny, respectively, such confirmation of non-objection vis-a-vis
the TV stations of the ProSiebenSat.1 Group, are bound by this
decision of KEK unless, upon application of one of the State
Media Institutions, the Conference of the Directors of the State
Media Institutions (KDLM) renders a deviating decision.  Such
resolution of KDLM would require a majority of three quarters of
its members.  In this way, a clearance of the transaction under
applicable media-supervisory laws could still be achieved
irrespective of the negative decision of KEK.

In the parallel proceedings regarding the approval of the
transaction by the Federal Cartel Office, Axel Springer AG will
have to react by January 12, 2006 to the second preliminary
ruling from the Federal Cartel Office dated January 6, 2006
regarding an intended denial of such approval.

On August 5, 2005 Axel Springer AG had entered into a share
purchase agreement with the current majority shareholder of
ProSiebenSat.1 Media AG, P7S1 Holding L.P., regarding the
acquisition of all common and preferred stock in ProSiebenSat.1
Media AG held directly or indirectly by P7S1 Holding L.P. By
virtue of this acquisition, Axel Springer AG would increase its
existing indirect shareholding in ProSiebenSat.1 Media AG from
around 12% to 100% of the voting common stock and 25% of the
nonvoting preferred stock.

The consummation of the share purchase agreement is, however,
still subject to approval of the transaction by the antitrust
authorities and media regulators.  The same is true for the publi
c tender offer submitted by Axel Springer AG, which lapsed on
November 3, 2005.  In case of a definitive denial of the required
antitrust and regulatory approval, the transaction including the
tender offer would therefore not be consummated.

CONTACT:  PROSIEBENSAT.1 MEDIA AG
          PSM Medienallee 7 Deutschland DE-85774
          Unterfohring +49 (89) 9507-10 Television
          Katja Pichler Corporate Spokesperson
          Phone: +49 (0) 895907 1180
          E-mail: Katja.Pichler@ProSiebenSat1.com
          Web site: http://www.ProSiebenSat1.com


SELBSTKLEBETECHNIK GMBH: Aalen Court Names Pluta Administrator
--------------------------------------------------------------
The district court of Aalen opened bankruptcy proceedings against
Selbstklebetechnik GmbH Kieninger on December 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.  Creditors have until February 3, 2006 to
register their claims with court-appointed provisional
administrator Michael Pluta.

Creditors and other interested parties are encouraged to attend
the meeting on March 6, 2006, 9:00 a.m. at the district court of
Aalen, Saal 0.11, Stuttgarter Strasse 7, 73430 Aalen, 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:  SELBSTKLEBETECHNIK GmbH KIENINGER
          Lindenhofstr. 1, 73529 Schwabisch Gmuend
          Contact:
          Xaver and Gertrud Kieninger, Managers
          Wagnerweg 15, 73547 Lorch

          Michael Pluta, Administrator
          Pluta Rechtsanwalts GmbH
          Karlstr. 33, 89073 Ulm
          Phone: 0731/96880-0
          Fax: 0731/96880-50
          E-mail: ulm@pluta.net


SK HOTELBETRIEBSGESELLSCHAFT: Falls into Bankruptcy
---------------------------------------------------
The district court of Kiel opened bankruptcy proceedings against
SK Hotelbetriebsgesellschaft mbH on January 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.  Creditors have until March 2, 2006 to register their
claims with court-appointed provisional administrator Jens-Soren
Schroder.

Creditors and other interested parties are encouraged to attend
the meeting on March 23, 2006, 9:00 a.m. at the district court of
Kiel, Saal 4, 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:  SK HOTELBETRIEBSGESELLSCHAFT mbH
          Hindenburgufer 70, 24105 Kiel
          Contact:
          Stephan Kamiski, Manager

          Jens-Soren Schroder, Administrator
          Raboisen 38, 20095 Hamburg


TC TRUSTCENTER: IT Security Biz Sold to U.S. Firm
-------------------------------------------------
U.S. Internet security firm GeoTrust Inc. has acquired the entire
assets of insolvent IT security solutions company TC TrustCenter
AG for an undisclosed sum.

TC TrustCenter was founded in 1997 and was run by Germany's four
leading banks: Commerzbank AG, Deutsche Bank AG, Dresdner Bank AG
and Bayerische Hypo-und Vereinsbank AG.

The company counts among its 3,500 clients HBOS (Halifax Bank of
Scotland), Siemens, SAP, Airbus and many government agencies.  It
filed for insolvency in September and is now being run by a
German administrator pending its sale.  TC TrustCenter's 50
employees will bring GeoTrust's total workforce to 135.

CONTACT:  GEOTRUST, INC.
          Joan Lockhart
          Phone: 781-292-4153
          E-mail: joanl@geotrust.com

          TC TRUSTCENTER
          Phone: +49 40 808026-410
          E-mail: gunilla.pendt@trustcenter.de

          SCHWARTZ COMMUNICATIONS, INC.
          Liz Serotte
          Phone: 781-684-0770
          E-mail: geotrust@schwartz-pr.com
          Web site: http://www.trustcenter.de/set_de.htm


VEREINS DEUTSCHES: Claims Filing Period Ends February 22
--------------------------------------------------------
The district court of Hamburg opened bankruptcy proceedings
against Vereins Deutsches Rotes Kreuz Kreisverband Hamburg Mitte
e.V. on December 23.  Consequently, all pending proceedings
against the company have been automatically stayed.  Creditors
have until February 22, 2006 to register their claims with
court-appointed provisional administrator Burckhardt Reimer.

Creditors and other interested parties are encouraged to attend
the meeting on March 22, 2006, 9:35 a.m. at the district court of
Hamburg, Insolvenzgericht, Sievekingplatz 1, 20355 Hamburg, 4.
Etage, Anbau, Saal B 405, at which time the administrator will
present his first report of the insolvency proceedings.  The
court will also verify the claims set out in the administrator's
report during this meeting, while creditors may constitute a
creditors committee and or opt to appoint a new insolvency
manager.

CONTACT:  VEREINS DEUTSCHES ROTES KREUZ KREISVERBAND HAMBURG
          MITTE e.V.
          Wendenstrasse 254, 20537 Hamburg
          Contact:
          Claus Petersen
          Wuhlenburg 20, 21435 Stelle-Rosenweide
          Oliver Heggblum
          Dr. Holger Christier
          Hans Guenter Andrae

          Burckhardt Reimer, Administrator
          Domstrasse 15, 20095 Hamburg
          Phone: 41522416
          Fax: 41522-411


=============
I R E L A N D
=============


ELAN CORPORATION: EntreMed Gets Rights to NanoCrystal Technology
----------------------------------------------------------------
Elan Corporation, plc (NYSE: ELN) and EntreMed, Inc.  (Nasdaq:
ENMD) entered into a License Agreement in which EntreMed has been
granted rights to utilize Elan's proprietary NanoCrystal
Technology to develop the oncology product candidate, Panzem(R)
NCD (2ME2 or 2-methoxyestradiol).  Under the terms of the License
Agreement, Elan is eligible to receive payments upon the
achievement of certain clinical, manufacturing, and regulatory
milestones.  Additionally, Elan will receive royalty payments
based on sales of Panzem(R) NCD.

Under the License Agreement and corresponding Services Agreement,
Elan will manufacture EntreMed's Panzem(R) NCD, a NanoCrystal
Technology formulation with improved bioavailability and
absorption.  Other marketed pharmaceutical products in the United
States utilizing Elan's NanoCrystal Technology include TriCor(R)
(marketed by Abbott), Megace(R) ES (marketed by Par
Pharmaceuticals), and Rapamune(R) (marketed by Wyeth).  In 2004,
the parties signed a Clinical Supply Agreement covering the
supply of Panzem(R) NCD for Phase 1 trials.  These Agreements
extend the Panzem(R) NCD supply arrangement to Phase 2 and later
trials.  Panzem(R) NCD is currently in Phase 1b clinical studies
in patients with advanced cancer.  EntreMed expects to announce
the commencement of multiple Phase 2 trials in early 2006.

Paul V.  Breen, Executive Vice President, Elan Drug Technologies,
said, "We are pleased to extend our relationship with EntreMed.
We hope that these agreements will lead to the launch of a new
product with unique benefits to cancer patients."

EntreMed President and Chief Executive Officer, James S.  Burns
commented, "These agreements continue our relationship with Elan
for further development and manufacturing of Panzem(R) NCD, our
lead clinical drug candidate.  Interim results from our Phase 1b
studies demonstrated that daily dosing with the Elan formulation
maintains blood levels of 2ME2 within the desired therapeutic
range, allowing us to move forward with Phase 2 clinical trials."

Mr. Burns further commented, "Expanding the Elan relationship is
a logical next step for EntreMed that provides us with access to
process improvements and continuity of supply for further
scale-up and clinical development.  We look forward to working
closely with Elan to meet our development goals and move
Panzem(R) NCD towards commercialization."

About Elan's NanoCrystal(R) Technology

Elan's NanoCrystal Technology is a novel drug delivery technology
that offers superior results when coupled with poorly
water-soluble compounds.  An increasing number of the drug
candidates synthesized each year by pharmaceutical companies are
poorly water-soluble.  Many of these potentially innovative drug
candidates are often abandoned because of poor pharmacokinetic
properties including absorption, distribution, metabolism, and
excretion.  NanoCrystal Technology has the potential to rescue a
significant percentage of these chemical compounds.

Elan's NanoCrystal Technology is part of a suite of technologies,
which Elan's Drug Technologies business offers to third party
clients.  Elan Drug Technologies offers its technology-based
solutions to the global pharmaceutical industry.  With over 30
products launched in 40 countries, it has a proven track record
of delivering success to third party clients.  Visit
http://www.elan.com/EDTfor more information about Elan Drug
Technologies' broad range of technologies, patent estate and
range of services.

About Elan

Elan Corporation plc (NYSE: ELN) -- http://www.elan.com-- is a
neuroscience-based biotechnology company.   Elan shares trade on
the New York, London and Dublin Stock Exchanges.

About Panzem(R) NCD

2ME2 is an orally active small molecule that attacks tumor cells
through multiple mechanisms of action and blocks the development
of new blood vessels that feed tumor cells.  Panzem(R)
Nanocrystal Colloidal Dispersion (Panzem(R) NCD), an oral liquid
formulation, has been shown in pre-clinical studies to
significantly increase the drug's bioavailability, which is
expected to result in enhanced drug levels of 2ME2 in patients.

About EntreMed

EntreMed, Inc. (Nasdaq: ENMD) is a clinical-stage pharmaceutical
company developing therapeutic candidates primarily for the
treatment of cancer and inflammation.  Panzem(R)
(2-methoxyestradiol or 2ME2), the Company's lead drug candidate,
is currently in clinical trials for cancer, as well as in
preclinical development for non-oncology indications.  EntreMed
recently announced that it will acquire Miikana Therapeutics,
Inc., a clinical-stage oncology company headquartered in Fremont,
California.  EntreMed's goal is to develop and commercialize new
compounds based on the Company's expertise in angiogenesis, cell
cycle regulation and inflammation -- processes vital to the
treatment of cancer and other diseases, such as rheumatoid
arthritis.  Additional information about EntreMed is available at
http://www.entremed.comand in various filings with the
Securities and Exchange Commission.

NanoCrystal(R) Technology is a registered trademark owned by Elan
Pharma International Limited Corporation, Ireland.

Panzem(R) is a registered trademark owned by EntreMed, Inc.

TriCor(R) is a registered trademark owned by Abbott Laboratories
Corporation.

Megace(R) is a registered trademark of Bristol-Myers Squibb
Company licensed to Par Pharmaceutical, Inc.

Rapamune(R) is a registered trademark owned by Wyeth
Pharmaceuticals.

CONTACT:  ELAN CORPORATION PLC
          Lincoln House
          Lincoln Place
          Dublin2
          Ireland
          Phone: +353 1 709 4000
          Fax: +353 1 709 4108
          Web site: http://www.elan.com

          ENTREMED, INC.
          Communications/IR:
          Ginny Dunn
          Phone: 240-864-2643
          Web site: http://www.entremed.com


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


ALITALIA SPA: Denies Changes to Merger Timetable
------------------------------------------------
Troubled national carrier Alitalia denied reports it is merging
with Air France-KLM ahead of schedule, Reuters reports.

The airline says the timeframe has not changed and that it is
only continuing its cooperation with Air France through the
SkyTeam Alliance.

"We reiterate that the two airline companies are continuing their
merger plan according to the framework already set out within the
context of the SkyTeam alliance and there is no plan being looked
at for a short term merger of Alitalia and Air France as reported
in the press," Reuters quoted an unnamed Alitalia spokesman.

Air France recently shelled out EUR20 million to participate in
Alitalia's EUR1 billion capital hike to maintain its 2% stake.
There are speculations foreign shareholders will sell their
stake, representing 20-25%, to Air France to hasten their merger.

                        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


AVIO S.P.A.: B+ Rating Affirmed After Senior Debt Refinancing
-------------------------------------------------------------
Fitch Ratings has affirmed Italy-based Avio S.p.A.'s (Avio)
ratings at Senior Unsecured 'B+' with Stable Outlook and Short
term 'B'.  Its senior secured debt is affirmed at 'BB'.

The agency has also affirmed ASPropulsion Capital B.V.'s EUR200
million 9.625% senior notes due 2013 at 'B', and Aero Invest 1
S.A.'s EUR375 million floating-rate senior payment-in-kind (PIK)
notes due 2015 at 'B-'.  The rating action follows Avio's
announcement to refinance its EUR445 million senior secured bank
facilities.

Although the refinancing leaves Avio's total drawn debt position
largely unchanged, it reduces its undrawn liquidity to EUR94
million from EUR150 million and shortens the senior secured
debt's final maturity to five years.  This is balanced by Avio's
historical ability to reduce debt and deliver a solid operating
performance despite difficult conditions in some of its key
markets.

The Senior Unsecured 'B+' rating reflects Avio's established
market position within the European aerospace industry, globally
recognized technical expertise, long-standing client
relationships, strategic importance to the Italian government and
the long-term nature of the projects in which it participates.
These are offset by the company's relatively modest size,
leveraged capital structure, high exposure to the cyclical civil
aerospace industry, heavy customer concentration and the risk of
major contract reductions or delays.

Reported trailing 12 month EBITDA was EUR180 million at Q305, and
Fitch-adjusted LTM EBITDA was EUR189 million, after allowing for
add-back of exceptional costs.  Avio was free cash flow positive
for the nine months to September 2005 and had generated
sufficient cash to reduce senior debt to EUR445 million at Q305
from EUR575 million at YE04.  The new facilities total EUR456
million in drawn funds, leaving pro-forma senior cash-pay
leverage at 2.5x at Q305 (3.2x at YE04), and pro-forma total
cash-pay leverage at 3.5x (4.2x at YE04).  Pro-forma total
leverage at Q305, after accounting for the PIK notes, was 5.6x
(6.2x pro-forma at YE04).  In view of this reduction in leverage,
Fitch expects to review the current ratings following the
publication of Avio's year-end results for 2005.  Furthermore,
Fitch expects to publish recovery ratings for Avio's debt
instruments in Q106.

Avio is one of the largest Italian groups in the aerospace and
defense industry and one of Europe's leading producers of
components for aircraft engines and propulsion systems for space
launch vehicles.  Avio was bought from Fiat S.p.A. in July 2003
by the Carlyle Group and Finmeccanica S.p.A.

CONTACT:  AVIO S.p.A.
          c/o The Carlyle Group
          Milan
          Via Borgonuovo 12
          20121 Milano
          Italy
          Phone: 39 02 6200461
          Fax: 39 02 2901 3559

          FITCH RATINGS
          Michelle De Angelis, London
          Phone: +44 (0) 20 7417 3499
          Stefano Podesta
          Phone: +44 (0) 20 7417 4316
          Elisabetta Zorzi, Milan
          Phone: +39 02 87 90 87 213

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


TISCALI S.P.A.: Claiming CZK44 Million Against Cesky Telecom
------------------------------------------------------------
Tiscali S.p.A. has reportedly sued Cesky Telecom over CZK44
million in unpaid invoices.  According to a CTK report, the
amount represents payments for Internet services due April to
September last year.

Cesky brushed aside the claim.  Spokesman Martin Zabka said the
fixed line operator proceeded in line with the price guidelines
of Czech Telecoms Office (CTU) and the contract with Tiscali.

Prague Daily Monitor, in another report, said that in April,
Cesky began paying alternative operators interconnection fees for
dial-up Internet access based on the price set by CTU, but
Tiscali allegedly demanded a higher fee.  Tiscali then sued Cesky
before the anti-monopoly office UOHS, which in December fined
Cesky CZK205 million (US$8.4 million) for abusing its dominant
position in the market.  The amount was seven times more than
previous fines on any company and the largest ever against a
single firm.

According to UOHS, Cesky prevented clients from choosing other
operators by closely bundling free phone minutes with its
ordinary service packages.  As a result customers could not
easily accurately compare prices and differentiate free and paid
minutes, discouraging them from using alternative services.

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

          CESKY TELECOM
          Olsanska 5, Praha 3, 130 34
          Phone: +420 271 411 111
                 +420 271 461 111
                      840 114 114
          Web site: http://www.telecom.cz


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


AIREK: Under Bankruptcy Supervision
-----------------------------------
The Inter-Regional Court of Bishkek on Economic Issues commenced
bankruptcy supervision procedure on LLC Airek on November 25,
2005.  The case is docketed as ED-876/05MBc1.  Mr. Avtandil
Dolbayev has been appointed temporary insolvency manager.

CONTACT:  AVTANDIL DOLBAYEV
          Temporary Insolvency Manager
          Phone: (+996 312) 66-13-23, 66-69-48


EKOSVET: Sets Proofs of Claim Deadline
--------------------------------------
LLC Ekosvet, which recently became insolvent, will accept proofs
of claim until February 27, 2006.

CONTACT:  EKOSVET
          Bishkek, Ibraimova Str. 105


OMEGA-BUSINESS: Gives Creditors Until Next Month to File Claims
---------------------------------------------------------------
LLC Omega-Business, which recently became insolvent, will accept
proofs of claim until February 27, 2006.

CONTACT:  OMEGA-BUSINESS
          Osh, Nikitina Str.  25
          Phone: (0502) 44-72-06


REMAXA-SOUTH: Creditors' Claims Due February
--------------------------------------------
LLC Remaxa-South, which recently became insolvent, will accept
proofs of claim until February 27, 2006.

CONTACT:  REMAXA-SOUTH
          Osh, Geologicheskaya Str. 162/5
          Phone: (03222) 7-08-76


TECHNO-TRANZIT: Proofs of Claim Deadline Set
--------------------------------------------
LLC Techno-Tranzit, which recently became insolvent, will accept
proofs of claim until February 27, 2006

CONTACT:  TECHNO-TRANZIT
          Bishkek, Frunze Str. 429b,
          Office 101


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


GETRONICS N.V.: Takes over Mercator's IT Contracts
--------------------------------------------------
Mercator Verzekeringen and ICT service provider Getronics have
finalized a deal in which Getronics takes over the majority of
Mercator Verzekeringen's computer infrastructure and existing ICT
contracts.  The deal is worth more than EUR10 million, spread
over a period of five years.

As a result of the agreement, some ten IT staff members are
moving from Mercator Verzekeringen to work at the Getronics
regional office in Kontich.  Mercator is keeping its own IT
department, which is responsible for software development and use
of the company's mainframe computer.

This outsourcing agreement means that Mercator will save 15
percent on the planned IT budget.  Through standardization and
innovation of the infrastructure, costs will be reduced further
to an estimated 20 percent by 2010.

Mercator will also be able to lower the operational risks
associated with its IT management.  Among other things, Getronics
will host a backup site where a second IT system will
automatically take over production should problems occur in the
main infrastructure.

"Our operational ICT department became too small to guarantee a
sound balance between high quality service, manageable
operational risks and an acceptable cost level.  The aim of this
outsourcing deal is to achieve this equilibrium and to maintain
it.  Finding a good solution for our staff was by far the most
important boundary condition.  We are convinced that we can
fulfill these goals through partnership with Getronics," says
Gert De Winter, CIO of Mercator Verzekeringen.

Mercator's choice of Getronics was partly inspired by the cost of
the multi-annual project, the working methods and the proven
quality and services, the opportunity of improving risk-control
incisively quickly and the smooth transfer of personnel from
Mercator to Getronics.

"Throughout the negotiation process, Getronics always
demonstrated flexibility so that it could respond quickly to our
specific needs," adds Gert De Winter.

Services

Getronics provides Mercator with the following services from its
standard offering: Workspace Management Services, for on-the-spot
and remote management of the entire staff's working environment;
Security Services, for the continual monitoring and management of
the security of the whole computer infrastructure; Communication
Services, with management of the telephony network, switchboards
and telephones; and Technology Transformation Services, for the
management of servers, networks (WAN/LAN) and storage networks
(SAN).

To further save on costs and ensure an even more stable computer
infrastructure, Getronics has, among other things, started up a
consolidation project for the servers, centralization of the
helpdesk and security monitoring, and the installation of
distribution software to keep Mercator's PC pool as up-to-date as
possible remotely.

"Mercator has chosen outsourcing services from our core offering,
and I am delighted that Getronics has been granted this contract.
Apart from the technology and the services that we will be
offering Mercator, the compatible corporate culture of our two
organisations was an important element in closing this deal, and
ensuring it runs smoothly in the future," says Jean-Claude
Vandenbosch, General Manager of Getronics Belgium and Luxembourg.

Consultancy Morgan Chambers guided Mercator Verzekeringen through
the whole outsourcing project.

About Getronics

With some 27,000 employees in over 30 countries and approximate
revenues of EUR3 billion, Getronics is one of the world's leading
providers of vendor independent Information and Communication
Technology (ICT) solutions and services.

Getronics designs, integrates and manages ICT infrastructures and
business solutions for many of the world's largest global and
local companies and organizations, helping them maximize the
value of their information technology investments.  Getronics
headquarters are in Amsterdam, with regional offices in Boston,
Madrid and Singapore.  Getronics' shares are traded on Euronext
Amsterdam ("GTN").  Visit http://www.getronics.comfor further
information about Getronics.

About Mercator

Mercator Verzekeringen offers a wide range of insurance solutions
for private persons and SMEs.  An insurer who is just as much at
home with life insurance as with non-life insurance.  Non-life
insurance includes the following products: car, fire, civil
liability, liability, accident, and industrial accident
insurance.  Mercator also has an extensive range of life
insurances, more specifically investments and branch 21 products.
Mercator works with a network of independent insurance brokers
and targets its domestic market Flanders.  Mercator's majority
shareholder is the Swiss Baloise-Group, which is also active in
Austria, Germany and Luxembourg.

                            *   *   *

In May, Standard & Poor's Ratings Services revised its outlook on
Getronics N.V. to stable from positive.  At the same time,
Standard & Poor's affirmed its 'B+' long-term corporate credit
and 'B-' senior unsecured debt ratings on the group; and assigned
its 'B+' rating and '3' recovery rating to Getronics' EUR300
million (US$388 million) senior secured bank loan, indicating
Standard & Poor's expectation of meaningful (50%-80%) recovery of
principal in the event of a default.

"The outlook revision follows our review of the group's business
and financial profiles," said Standard & Poor's credit analyst
Patrice Cochelin.  "We expect Getronics to again generate weak
free cash flow in 2005 after a negative figure in 2004."

An upgrade to the 'BB-' category is consequently unlikely in the
coming months.  Getronics' disappointing revenues in recent
months, coupled with gross margins capped at less than 20%,
attest to fierce competition in the company's main markets.

"Getronics' balance-sheet and liquidity positions are
nevertheless expected to continue to merit a slightly higher
rating," added Mr. Cochelin.

Over the past two months, Getronics completed the acquisition of
Dutch competitor Pinkroccade N.V., refinanced its EUR175 million
credit facility with a new EUR300 million secured facility
(excluding a EUR200 bridge loan), and closed a EUR400 million
equity offering to finance the cash component of the acquisition
and refinance part of its preferred stock.  Pro forma for these
transactions, the company's debt will essentially comprise its
EUR100 million bond maturing in 2008, a new EUR150 million
revolving credit facility due in March 2008, and a EUR75 million
acquisition tranche due in March 2008, which will be reduced by
EUR25 million in March 2006.

"The stable outlook reflects our expectation that restructuring
costs will continue to impair Getronics' free cash flow
generation in 2005, albeit without threatening its liquidity
position.  We may change the outlook to positive if Getronics'
free operating cash flow generation improves to a sustainable
positive figure after restructuring costs.  Conversely, if
service revenues continue to fall or liquidity weakens
materially, we may revise our outlook to negative.  Small
acquisitions in the company's core business should be
accommodated within the current rating," Mr. Cochelin said.

CONTACT:  GETRONICS N.V.
          Media Relations
          Phone: +31 6 22196721
          Fax: +31 30 274 7650
          E-mail: media@getronics.com

          Investor Relations
          Phone: +31 20 586 1982
          Fax: +31 20 586 1455
          E-mail: investor.relations@getronics.com


ROYAL SHELL: Share Buyback Program Continues
--------------------------------------------
On 10 January 2006, Royal Dutch Shell plc purchased for
cancellation 500,000 'A' Shares at a price of EUR26.88 per share.
It further purchased for cancellation 150,000 'A' Shares at a
price of 1,838.14 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 3,936,677,974.

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

                            *   *   *

In 2005, Shell returned US$5 billion to shareholders in 2005 via
market purchases of shares.  This target included shares
purchased for cancellation by The Shell Transport and Trading
Company plc and Royal Dutch Petroleum Company prior to the Group
unification of US$0.5 billion.  The Company expects to continue
its buyback program in 2006 and will provide an update on the
2006 buy back program with the full year results announcement on
February 2, 2006.

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

                        About the Company

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

                           The Trouble

Shell admitted overstating proved reserves by almost 6 billion
barrels between January 2004 and February 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


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


STOCZNIA GDYNIA: Prepares to Sell Subsidiary
--------------------------------------------
Stocznia Gdynia is planning to sell its subsidiary Stocznia
Gdanska, according to Puls Biznesu.

Krzysztof Grabowski, Stocznia Gdynia's spokesman, said the two
have already signed an agreement regarding their separation.  The
sale is likely to take at least six months.

According to the report, the two still needs to settle, among
others, their production cooperation.  They also have to lay down
plans to the European Commission, which had declared a PLN400
million state aid for Stocznia Gdynia illegal.

The Stocznia Gdynia Group has 34 ships orders in the years
2005-2009 worth US$1.53 billion.  Stocznia Gdanska is to produce
eight of them -- three this year, and another three next year.
Stocznia Gdynia has a quota of 12 in 2006, and seven next year.

Potential investors in Stocznia Gdanska include German ship owner
Stefan Patjens, which is planning to buy harbor equipment for
Stocznia Gdanska; a local firm Centromor; and Norwegian
shipbuilder Aker.

Stocznia Gdynia had net losses of PLN65.1 million in the first
half of 2005, while Stocznia Gdanska had PLN18.2 million of net
income.

CONTACT:  GDYNIA SHIPYARD
          (Stocznia Gdynia S.A.)
          ul. Czechoslowacka 3
          81-969 Gdynia
          POLAND
          Phone: (058) 627 77 10
                or (058) 627 73 13
          Web site: http://www.stocznia.gdynia.pl/


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


AGRYZ-AGRO-PROM-STROY: Succumbs to Bankruptcy
---------------------------------------------
The Arbitration Court of Tatarstan republic commenced bankruptcy
proceedings against Agryz-Agro-Prom-Stroy after finding the close
joints stock company insolvent.  The case is docketed as
A65-9179/2005-SG4-16.  Mr. I. Zakirov has been appointed
insolvency manager.  Creditors may submit their proofs of claim
to 422540, Russia, Tatarstan republic, Zelenodolsk, Post User Box
566.

CONTACT:  AGRYZ-AGRO-PROM-STROY
          422230, Russia, Tatarstan republic,
          Agryz, Lesopilnaya Str. 27

          I. ZAKIROV
          Insolvency Manager
          422540, Russia, Tatarstan republic,
          Zelenodolsk, Post User Box 566


ENERGY-MONTAGE: Bankruptcy Hearing Set Next Week
------------------------------------------------
The Arbitration Court of Belgorod region has commenced bankruptcy
supervision procedure on limited liability company
Energy-Montage.  The case is docketed as A08-9135/05-2 "b".  Mr.
F. Vinnikov has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to Russia, Belgorod
region, Vezelskaya Str. 156.  A hearing will take place on
January 17, 2006.

CONTACT:  ENERGY-MONTAGE
          Russia, Belgorod region, Streletskoye,
          Krasnooktyabrskaya Str. 222a

          F. VINNIKOV
          Temporary Insolvency Manager
          Russia, Belgorod region,
          Vezelskaya Str. 156


KEMEROVSKIY: Claims Filing Period Ends Today
--------------------------------------------
The Arbitration Court of Kemerovo region commenced bankruptcy
proceedings against Kemerovskiy (TIN 4234000758) after finding
the car repair factory insolvent.  The case is docketed as
A27-9856/2005-4.  Mr. A. Kachula has been appointed insolvency
manager.  Creditors have until January 12, 2006 to submit their
proofs of claim to 650501, Russia, Kemerovo region, Muromtseva
Str. 1.

CONTACT:  KEMEROVSKIY
          650501, Russia, Kemerovo region,
          Muromtseva Str. 1

          A. KACHULA
          Insolvency Manager
          650501, Russia, Kemerovo region,
          Muromtseva Str. 1


MOTORIST: Insolvency Manager Takes over Firm
--------------------------------------------
The Arbitration Court of Karachaevo-Cherkessiya republic has
commenced bankruptcy supervision procedure on open joint stock
company Motorist.  The case is docketed as 25-2329.  Mr. E.
Valyuzhinich has been appointed temporary insolvency manager.
Creditors may submit their proofs of claim to Russia, Stavropol,
Lermontova Str. 343.

CONTACT:  MOTORIST
          Russia, Karachaevo-Cherkessiya republic,
          Ust-Dzheguta

          E. VALYUZHINICH
          Temporary Insolvency Manager
          Russia, Stavropol region,
          Lermontova Str. 343


OREL-GAS-STROY: Orel Court Opens Bankruptcy Proceedings
-------------------------------------------------------
The Arbitration Court of Orel region commenced bankruptcy
proceedings against Orel-Gas-Stroy after finding the open joint
stock company insolvent.  The case is docketed as
A48-1041/05-16b.  Mr. A. Kostyunina has been appointed insolvency
manager.
Creditors have until January 12, 2006 to submit their proofs of
claim to 127550, Russia, Moscow, Dmitovskoye Shosse, 33, Building
4, Apartment 10.

CONTACT:  OREL-GAS-STROY
          302016, Russia, Orel region,
          Skulpturnaya Str. 2

          A. KOSTYUNINA
          Insolvency Manager
          127550, Russia, Moscow region,
          Dmitovskoye Shosse 33, Building 4, Apartment 10


PASHINSKIY COMBINE: Declared Insolvent
--------------------------------------
The Arbitration Court of Novosibirsk region commenced bankruptcy
proceedings against Pashinskiy Combine after finding the building
construction company insolvent.  The case is docketed as
A45-8563/05-4/162.  Mr. S. Zhukov has been appointed insolvency
manager.  Creditors have until January 12, 2006 to submit their
proofs of claim to 630087, Russia, Novosibirsk, Post User Box
116.

CONTACT:  PASHINSKIY COMBINE
          630086, Russia, Novosibirsk region,
          Selenginskaya Str. 1-A

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


SIEMENS: Insolvency Manager Enters Firm
---------------------------------------
The Arbitration Court of Saint-Petersburg and the Leningrad
region commenced bankruptcy proceedings against Siemens after
finding the close joint stock company insolvent.  The case is
docketed as A56-38409/2005.  Mr. V. Chibirev has been appointed
insolvency manager.

CONTACT:  SIEMENS
          194292, Russia, Saint-Petersburg,
          Promzone Parnas, Domostroitelnaya Str. 10

          V. CHIBIREV
          Insolvency Manager
          199226, Russia, Saint-Petersburg,
          Post User Box 32


TUKANSKOYE MINE: Undergoes Bankruptcy Supervision Procedure
-----------------------------------------------------------
The Arbitration Court of Bashkortostan republic has commenced
bankruptcy supervision procedure on limited liability company
Tukanskoye Mine Management (TIN 0256007936).  The case is
docketed as A07-11915/05-G-KhRM/FLE.  Mr. D. Karavaev has been
appointed temporary insolvency manager.

CONTACT:  TUKANSKOYE MINE MANAGEMENT
          453500, Russia, Bashkortostan republic,
          Beloretskiy region, Tukan, Matrosova Str. 1

          D. KARAVAEV
          Temporary Insolvency Manager
          450057, Russia, Bashkortostan republic, Ufa,
          Oktyabrskoy Revolyutsii Str. 65, Room 14


TYUMEN-OIL-GAS-MASH: Bankruptcy Hearing Set Today
-------------------------------------------------
The Arbitration Court of Tyumen region has commenced bankruptcy
supervision procedure on limited liability company
Tyumen-Oil-Gas-Mash.  The case is docketed as A-70-8586/3-05.
Ms. T. Isaeva has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to 625046, Russia,
Tyumen region, Motostroiteley Str. 14, Building 1, Office 1.  A
hearing will take place on January 12, 2006, 10:30 a.m. at
Russia, Tyumen region, Khokhryakova Str. 77.

CONTACT:  T. ISAEVA
          Temporary Insolvency Manager
          625046, Russia, Tyumen region,
          Motostroiteley Str. 14, Building 1, Office 1


VILYUYSKOYE ENTERPRISE: Bankruptcy Supervision Begins
-----------------------------------------------------
The Arbitration Court of Sakha republic - Yakutiya has commenced
bankruptcy supervision procedure on open joint stock company
Vilyuyskoye Enterprise #1.  The case is docketed as A58-5815/05.
Mr. A. Lebedev has been appointed temporary insolvency manager.

Creditors may submit their proofs of claim to:

(a) VILYUYSKOYE ENTERPRISE #1
    Russia, Sakha republic - Yakutiya,
    Vilyuysk, Amosova Str. 14

(b) A. LEBEDEV
    Temporary Insolvency Manager
    677015, Russia, Sakha republic - Yakutiya,
    Yakutsk, 8th March Str. 65

A hearing will take place on January 27, 2006 at 10:15 a.m.


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


SWISS INTERNATIONAL: Seat Load Factor Improves Significantly
------------------------------------------------------------
Swiss International achieved an annual seat load factor for 2005
of 78.1%, a substantial 3.2-percentage-point improvement on the
74.9% recorded for the previous year.  The increase was due to
higher annual seat load factors on both intercontinental services
(up 2.7 percentage points to 84.0%) and European routes (up 5.1
percentage points to 65.9%).  Total passenger volume for 2005
stood at around 9.6 million, a 4.1% increase on the previous
year.  System-wide seat load factor for December 2005 amounted to
74.9%, a 1.4-percentage-point improvement on the prior-year
period.

The modifications to the route network, the schedule enhancements
effected and the changes made to the aircraft fleet structure all
had a positive impact on SWISS' seat load factors for 2005.  The
company's flights posted an average seat load factor of 78.1% for
the year, a 3.2-percentage-point improvement on the prior-year
result.  Around 9.6 million passengers traveled with SWISS in
2005, a 4.1% increase on the previous year.  While the company
offered 4.7% less capacity year-on-year in available seat
kilometer (ASK) terms, total traffic volume in revenue passenger
kilometer (RPK) terms declined by only 0.6% over the same period.
Annual seat load factor improved accordingly.  Seat load factor
for December 2005 amounted to 74.9%, up 1.4 percentage points on
the same month in 2004.

SWISS' 2005 annual seat load factor on intercontinental services
totaled 84.0%, 2.7 percentage points up on the previous year.
While ASK capacity was down 6.8% from its prior-year-level, total
RPK traffic volume declined by 3.6% - far less than the ASK
reduction.

Intercontinental seat load factors showed positive trends for
most of 2005.  Slight declines were sustained with the start of
the winter schedules in the fourth-quarter period, as a result of
intensified competitive pressure on various routes.  Seat load
factor for December also slipped one percentage point to 80.8%.
December Far East services saw a 1.1-percentage-point seat load
factor improvement to 85.4%.  North Atlantic services for the
month generated a seat load factor of 82.4%, a
1.9-percentage-point decline on December 2004.  Monthly seat load
factor for African services sustained a 5.2-percentage-point
decline to 72.2%.  Flights to the Middle East posted a
2.2-percentage-point improvement in seat load factor for the
month, which stood at 71.6%.  December services to South America
reported a seat load factor of 84.5%, 0.7 percentage points down
on their prior-year level.

Seat load factor on SWISS' European services recorded a
5.1-percentage-point year-on-year increase for 2005 and stood at
65.9%.  With ASK capacity virtually unchanged (0.1% down) from
2004, the company generated a substantial 8.3% increase in RPK
traffic volume.

SWISS' business drive in Europe also had a positive effect on
seat load factor trends.  While 8.2% fewer flights were operated
than the previous year, total ASK capacity for 2005 was only 0.1%
below its prior-year level.  The use of larger-capacity aircraft
and the corresponding reduction in unit costs per available seat
kilometer provided SWISS with vital scope for responding to its
intra-European competitors.  These endeavors were reflected in
seat load factor for December 2005, which, at 62.2%, was a
6.7-percentage-point improvement on the prior-year period.

SWISS' cargo business continued to develop favorably overall in
2005, despite a tangible toughening of the competitive
environment.  Cargo load factor (by volume) remained stable at a
high 86.5% (down 0.1 percentage points on 2004).  The total cargo
volume handled by Swiss World Cargo amounted to around 1.14
billion cargo tonne-kilometers, an 0.5% improvement on the
previous year.

Key SWISS scheduled services results for January to December 2005

Total passengers carried             9,564,506
Total flights performed                133,717

Available seat-kilometers (million)     26,193
Revenue passenger-kilometers (million)  20,469

Seat load factor                         78.1%

CONTACT:  SWISS INTERNATIONAL
          Corporate Communications
          P.O. Box, CH-4002 Basel
          Phone: +41 (0) 848 773 773
          Fax: +41 (0) 61 582 3554
          E-mail: communications@swiss.com
          Web site: http://www.swiss.com


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


AGROPROMTEHNIKA: Declared Insolvent
-----------------------------------
The Economic Court of Zhitomir region commenced bankruptcy
proceedings against Agropromtehnika (code EDRPOU 00903363) on
November 8, 2005 after finding the open joint stock company
insolvent.  The case is docketed as 4/118 B.  Mr. Mikola
Malishonok (License Number AA 783069) has been appointed
liquidator/insolvency manager.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) AGROPROMTEHNIKA
    13200, Ukraine, Zhitomir region,
    Chudnivskij district, Krasnopil,
    Molodizhna Str. 6

(b) MIKOLA MALISHONOK
    Liquidator/Insolvency Manager
    Phone: 8 (067) 968-64-06

(c) ECONOMIC COURT OF ZHITOMIR REGION
    10002, Ukraine, Zhitomir region,
    Putyatinski Square 3/65


ENERGETIC-NKZ: Bankruptcy Supervision Starts
--------------------------------------------
The Economic Court of Dnipropetrovsk region has commenced
bankruptcy supervision procedure on CJSC Energetic-NKZ (code
EDRPOU 31384510).  The case is docketed as B15/149/05.  Mr.
Dmitro Komarnitskij (License Number AB 116109) has been appointed
temporary insolvency manager.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) ENERGETIC-NKZ
    Ukraine, Dnipropetrovsk region,
    Nikopol, Karl Libkneht Str. 169

(b) DMITRO KOMARNITSKIJ
    Temporary Insolvency Manager
    49099, Ukraine, Dnipropetrovsk region,
    Korobov Str.1/56
    Phone: 8 (067) 562-24-00

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


KOMETEKS LTD.: Creditors' Claims Due Weekend
--------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Kometeks Ltd. (code EDRPOU 22635199) on
December 1, 2005 after finding the limited liability company
insolvent.  The case is docketed as B-48/89-05.  Mr. V. Vakulenko
(License Number AA 176218) has been appointed
liquidator/insolvency manager.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) KOMETEKS LTD.
    Ukraine, Harkiv region,
    Peremogi Avenue 72-B/137

(b) V. VAKULENKO
    Liquidator/Insolvency Manager
    61045, Ukraine, Harkiv region,
    Sheakspere Str. 12-A/5-A
    Phone: 773-01-30

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


LUGRESURS: Appoints Insolvency Manager
--------------------------------------
The Economic Court of Lugansk region commenced bankruptcy
proceedings against Lugresurs (code EDRPOU 23490863) on November
29, 2005 after finding the limited liability company insolvent.
The case is docketed as 20/170b(19/93b).  Mr. Andrij Golosov
(License Number AA 216813) has been appointed
liquidator/insolvency manager.  The company holds account number
26002010180420 at JSB Brokbiznesbank, Lugansk branch, MFO 304632.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) LUGRESURS
    91000, Ukraine, Lugansk region,
    Sosyura Str. 137

(b) ANDRIJ GOLOSOV
    Liquidator/Insolvency Manager
    91019, Ukraine, Lugansk region,
    Kirov Str. 18/12
    Phone: 8 (0642) 52-74-93

(c) ECONOMIC COURT OF LUGANSK REGION
    91000, Ukraine, Lugansk region,
    Geroiv VVV Square 3a


RIVNE' BREAD: Declares Bankruptcy
---------------------------------
The Economic Court of Rivne region commenced bankruptcy
supervision procedure on OJSC Rivne' Bread Combine (code EDRPOU
0551521) on November 15, 2005.  The case is docketed as 4/45.
Ms. Irina Dragun (License Number AA 719819) has been appointed
temporary insolvency manager.  The company holds account number
26005962480869 at CJSC First Ukrainian International Bank, Kyiv
branch, MFO 322755.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) RIVNE' BREAD COMBINE
    33011, Ukraine, Rivne region,
    Kikvidze Str. 66

(b) IRINA DRAGUN
    Temporary Insolvency Manager
    Ukraine, Rivne region,
    Soborna Str. 34/14

(c) ECONOMIC COURT OF RIVNE REGION
    33001, Ukraine, Rivne region,
    Yavornitski Str. 59


ZOLOTE RUNO: Under Bankruptcy Supervision
-----------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
supervision procedure on OJSC Zolote Runo (code EDRPOU 00412783)
on November 28, 2005.  The case is docketed as 2-29/6678.2-2005.
Mr. R. Trubo (License Number AB 116202) has been appointed
temporary insolvency manager.  The company holds account number
260026482 at JSPPB Aval, Krim regional branch, MFO 324021.

Creditors have until January 14, 2006 to submit their proofs of
claim to:

(a) ZOLOTE RUNO
    Ukraine, AR Krym region,
    Kirovskij district, Zolote Runo,
    Tsentralna Str. 16

(b) R. TRUBO
    Temporary Insolvency Manager
    Ukraine, AR Krym region,
    Feodosiya, Garnayev Str. 9

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


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


ALEXON GROUP: Christmas Trading Fails to Lift 2nd-half Results
--------------------------------------------------------------
Alexon Group plc has disclosed that like-for-like sales for the
23 weeks ended 7 January 2006 were 2.1% down on the previous
year.

There was a mixed performance across the Group's divisions.  Bay
Trading continued its recovery achieving strong margin and sales
growth.  Alexon Brands was satisfactory overall although the
launch of the new Mandolin brand has proved disappointing.
Dolcis and Menswear both underperformed in the key Christmas
period, resulting from a weak product offer and a difficult
trading environment.

While the anticipated gross margin for the year will be level
with last year, stock levels are slightly higher than planned and
appropriate action is being taken.  We anticipate that operating
profit before interest for the year ending 28 January 2006 will
be between GBP19.5 million and GBP20.5 million.  This compares
with GBP31.6 million in the prior year (before exceptional costs
of GBP2.2 million), and is within the range of current market
forecasts.

The preliminary results for the year ending 28 January 2006 will
be announced on 27 March 2006.

CONTACT:  ALEXON GROUP PLC
          40-48 Guildford Street
          Luton
          Bedfordshire
          England
          LU1 2PB
          Phone: +44 1582 723131
          Fax: +44 1582 399864


AMBERLEE UK: Administrator from Bond Partners Moves in
------------------------------------------------------
T. Papanicola (IP No 005496) of Bond Partners LLP was appointed
administrator of Amberlee UK Ltd. (Company No 04367054) on Dec.
19.  Amberlee Bus and Coach Services --
http://www.amberlee.co.uk/-- is based in Kent and is currently
serving the southeast routes.

CONTACT:  AMBERLEE UK
          Unit 1, Manor Way Lower Road Northfleet,
          Kent DA11 9BB
          Phone: (01474) 356000

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


APP AUTOMOTIVE: Meeting of Creditors Set Today
----------------------------------------------
Creditors of APP Automotive Limited (Company No 05303614) will
meet on January 12, 2006, 11 a.m. at UHY Hacker Young, St Alphage
House, 2 Fore Street, London EC2Y 5DH.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to A. Andronikou, joint administrator of UHY Hacker
Young, St Alphage House, 2 Fore Street, London EC2Y 5DH.

APP Automotive Limited formerly traded as St Georges Cars
Limited.

CONTACT:  ST GEORGES CARS LTD.
          2 Berrys La, Byfleet,
          West Byfleet, KT14 7AU
          Phone: 01932 350111

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


BELIMO LTD.: Liquidator from Begbies Traynor Moves in
-----------------------------------------------------
Belimo Limited informs that a resolution to wind up the company
was passed at an EGM held on Nov. 30 at The Old Exchange, 234
Southchurch Road, Southend-on-Sea, Essex SS1 2EG.  Lloyd Biscoe
of Begbies Traynor, The Old Exchange, 234 Southchurch Road,
Southend-on-Sea, Essex SS1 2EG was appointed liquidator.

CONTACT:  BELIMO LIMITED
          12 Boss Hall Road,
          Ipswich
          Suffolk IP1 5BN
          Phone: 01473 462716
          Fax: 01473 462718

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


BEST BLOOMS: Creditors Meeting Set Next Week
--------------------------------------------
Creditors of Best Blooms Wholesale Flowers & Plants Ltd. (Company
No 02933548) will meet on January 17, 2006, 2 p.m. at UHY Hacker
Young, St Alphage House, 2 Fore Street, London EC2Y 5DH.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to A. Andronikou, joint administrator of UHY Hacker
Young, St Alphage House, 2 Fore Street, London EC2Y 5DH not later
than 12 noon, January 16, 2006.

CONTACT:  BEST BLOOMS WHOLESALE FLOWERS & PLANTS LTD.
          Western International Market,
          Hayes Road, Southall, Middlesex UB2 5XF
          Phone: 02085693454

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


CHARACTER GROUP: Trading Upturn Carries on into the New Year
------------------------------------------------------------
The Character Group plc has revealed that the improvement in
trading witnessed at the end of last year continued into this new
financial year.

Overall, Group sales for the first four months of the current
financial year ending 31 August 2006, which includes the
important Christmas trading period, have exceeded expectations,
with like-for-like sales nearly 60% ahead of the same period last
year.

Although the Group has been operating in a difficult and very
competitive trading environment for some considerable time, the
business has made substantial progress both operationally and in
terms of sales.

Based on the Group's performance in the first four months of this
financial year, coupled with the current strong portfolio of
products in the Toys, Games and Gifts division, the Directors are
confident that further progress will be achieved throughout the
year as a whole.

Shareholders will be kept up-to-date with developments.

CONTACT:  CHARACTER GROUP PLC
          2nd Floor
          86-88 Coombe Road
          New Malden
          Surrey, KT3 4QS
          Registered No: 3033333
          Phone: 44 (0) 20 8949 5898
          Fax: 44 (0) 20 8336 2585
          Web site: http://www.charactergroup.plc.uk


CLYDESDALE BANK: Branch Closures Continue
-----------------------------------------
Clydesdale bank closed its Whitehaven branch on Tuesday as part
of a commitment to decrease its high street presence.

Owner National Australia Bank is cutting the number of its
branches from 217 to 153 as people abandons traditional banking
to Internet and telephone method of transacting business.  It is
closing 30 branches in Scotland, and 17 in England.

The Whitehaven branch's three full-time staff and accounts will
be transferred to the Workington branch.  NAB has previously
assured Clydesdale Bank employees there would be no compulsory
redundancies.

ONTACT:  CLYDESDALE BANK
         Banking Hall
         30 St. Vincent Place
         Glasgow G1 2HL
         Phone: 0141 951 7000
         Web site: http://www.cbonline.co.uk


CONTROL ENGINEERING: Calls in Administrator
-------------------------------------------
T. Papanicola (IP No 005496) of Bond Partners LLP was appointed
administrator of Control Engineering (Derby) Limited (Company No
01970101) on Dec. 21.  Control Engineering --
http://www.controlderby.com/-- makes process control equipment.

CONTACT:  CONTROL ENGINEERING (DERBY) LTD.
          Unit 4
          Centurion Way Business Park
          Alfreton Road, Derby DE21 4AY
          United Kingdom
          Phone: (01332) 341953
          Fax: (01332) 291873

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


INTERTEK GROUP: Unit Signs PSI Deal Extension with Mozambique
-------------------------------------------------------------
Intertek Foreign Trade Standards, a division of Intertek Group
plc, has signed an 18-month extension to its inspection contract
with the Government of Mozambique.

The comprehensive contract covers the provision of Preshipment
Inspection (PSI), training support, and the operation of seven
customs support teams based throughout the country.

Intertek Foreign Trade Standards Chief Executive Rob Dilworth
said: "We are delighted to have been asked to continue our
provision of services by the Government.  The Intertek service
contains a wide range of technical and service innovations, such
as customs support teams.  For 10 years we have provided a first
class service to the Mozambique Government and have played a
significant part in the development of Mozambique Customs and
revenue collections."

Intertek has operated over 25 PSI programs around the world.
This includes programs in 10 different African countries.

                        About the Group

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

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

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


INTERTEK GROUP: To Unveil Preliminary Results March
---------------------------------------------------
Intertek Group plc has now entered its closed period and will
announce preliminary results for the year ended 31 December 2005
on 6 March 2006.

Annual General Meeting will be held on 12 May 2006, while Interim
Results 2005 announced on 4 September 2006.

                        About the Group

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

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

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


J. A. MARSHALL: Names Begbies Traynor Administrator
---------------------------------------------------
G. N. Lee and S. L. Conn (IP Nos 009204, 001762) of Begbies
Traynor were appointed joint administrators of J. A. Marshall &
Co. (Brushes) Limited (Company No 00519718) on Dec. 23.  Its
registered office is at Blackfriars House, Parsonage, Manchester
M3 2JA.

CONTACT:  J A MARSHALL & CO BRUSHES LTD.
          Parkside House, 21-23 Bent Lane,
          Manchester, Lancashire M25 1DL
          Phone: 01617987273

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


JOHN LAING: Blames Cash-flow Troubles for Insolvency
----------------------------------------------------
Blair Nimmo and Tony Friar of KPMG Corporate Recovery were
appointed as joint receivers of John Laing of Hawick Limited on
Monday, 9 January 2006, following a request by the Company's
directors.

The company, which manufactures high quality cashmere garments,
had been experiencing difficulties for some time.  Established in
1831, the business employs 95 staff at their premises in Hawick
and has an annual turnover of cGBP3.5 million.

                    Statement of Blair Nimmo
           Head of KPMG Corporate Recovery in Scotland

The business had been incurring significant losses over the last
few years, largely due to some bad debts and increased foreign
competition.  Recent cash flow difficulties left the Directors
with no choice but to the request the appointment of receivers.
Regrettably the joint receivers have had to make 52 staff
redundant with immediate effect.

The company will continue to trade under the control of the joint
receivers whilst we pursue a sale of the business as a going
concern.

John Laing of Hawick is a long established business with an
excellent reputation, and we are hopeful that with the support of
customers, suppliers and the remaining staff (43), we can
preserve the business as a going concern and quickly find a
buyer, therefore safeguarding as many of the remaining jobs as
possible.

Anyone with any interest in acquiring the business should contact
Tony Friar.

CONTACT:  JOHN LAING OF HAWICK LIMITED
          Slitrig House, 8-9 Slitrig Crescent
          Hawick TD9 0EN
          Phone: 01450 372909
          Fax: 01450 378744
          Web site: http://www.laingcashmere.com

          Allan Barr
          PR Manager, Scotland, KPMG
          Phone: 0141 300 5896
          Mobile: 07796 181 043
          E-mail: allan.barr@kpmg.co.uk

          KPMG Press Office
          Phone: 0207 694 8773

          Blair Nimmo
          Corporate Recovery Partner, KMPG Scotland
          Phone: 0131 527 6672
          Mobile: 07774 617582

          Tony Friar
          Phone: 0141 226 5511


LANGBAR INTERNATIONAL: Shareholders Suspect Short-selling
---------------------------------------------------------
Investors in Langbar International plans to sue the firm's
brokers if they fail to achieve a settlement for past share
trades, according to Accounting Age.  They suspect short-selling,
and wants to recoup millions of pounds they lost when Langbar was
suspended pending a fraud investigation.

Langbar transactions have not been settled on time, and some
shareholders think it might be because the shares have been
traded by market makers who actually did not posses the shares
physically, or had not received them.  Brokers and market makers
blamed the suspension of Langbar for the problem, but Nigel
Smith, who is advising private shareholder body the Langbar
Action Group, does not believe so.

"The suspension of a share is not a barrier to settlement, and
according to stock exchange rules market makers brokers should
use any and all means to settle on time...By failing to deliver
shares they are in breach of contract," Mr. Smith said.

Langbar's largest shareholder is Gartmore, followed by retail
investors who hold a total of about 8.5 million shares, and by
institutional investor Merrill Lynch.

                        About the Company

Langbar International -- http://www.langbar.com/-- is an
independent management and investment firm.  Formerly Crown
Corporation, it was renamed Langbar after Stuart Pearson became
chief executive in June.  Headquartered in Bermuda, Langbar
International operates internationally, and is listed in London
on the Alternative Investment Market of the London Stock
Exchange.  It has investments in Argentina, Canada, Russia,
Eastern Europe, Spain and Portugal.

The company is under investigation for fraud in relation to the
disappearance of the firm's GBP365 million cash deposits in Banco
do Brazil in Sao Paulo.  It has replaced Spanish firm Gironella
Velasco with Deloitte as auditor.

CONTACT:  LANGBAR INTERNATIONAL LIMITED
          Head Office
          Reed House
          31 Church Street
          Hamilton HM12
          Bermuda
          Phone: +1 (441) 295-3631
          E-mail: info@langbar.com

          KROLL EUROPE, MIDDLE EAST & AFRICA
          10 Fleet Place
          London EC4M 7RB
          United Kingdom
          Phone: 44 (0) 207 029 5000
          Fax: 44 (0) 207 029 5001

          GLOBAL MARINE ENERGY PLC
          Phone: 01274 531 862
          Philip Wood, Chairman

          NOBLE & COMPANY LIMITED
          Phone: 0131 225 9677
          Adam Westcott

          BANKSIDE CONSULTANTS
          Phone: 0207 367 8888
          Michael Padley/Susan Scott


LEWIS & MANLEY: Metal Parts Maker Winds up
------------------------------------------
C. D. Manley, chairman of Lewis & Manley (Engineering) Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Nov. 30, 2005 at Dewey & Co, 17 St Andrews Crescent,
Cardiff CF10 3DB.  P. R. Dewey of Dewey & Co., 17 St Andrews
Crescent, Cardiff CF10 3DB was appointed liquidator.

CONTACT:  LEWIS & MANLEY (ENGINEERING) LIMITED
          East Bank Road, Felnex Industrial Estate
          Newport, Gwent NP19 4PP
          Phone: 01633 276800
                 01633 271301


MARKS & SPENCER: U.K. Sales Up 4.8%
-----------------------------------
Marks & Spencer Group plc has released a trading statement for
the 13 weeks to 31 December 2005.

U.K. sales for the 13 weeks to 31 December 2005 were +4.8% in
total with General Merchandise +2.1% and Food +7.9%.  Within this
Clothing was +1.9% and Home +3.8%.  Full price sales of General
Merchandise were up 5.3% compared with 0.4% last quarter.

This was an encouraging performance against comparatives, which
included two "mega-days" last year.  The trend improved as the
quarter progressed with sales in the Christmas period being
particularly strong.

We have made progress across all areas of the business through
better buying, better values and tight control of inventory, with
around 35% less stock going into our post-Christmas clearance
than last year.  Our Food business had a strong Christmas
reflecting the quality and innovation of our ranges.

Stuart Rose, chief executive, said: "This has been an encouraging
quarter.  Looking ahead, we expect the market to remain
challenging.  Moreover, we are facing increasing cost pressures.
Costs of fuel, utilities, rent and rates have risen sharply and
will have an impact next year.

"We remain focused on product, service and environment.  We are
undertaking a substantial program of store development and expect
to have over 30% of our store portfolio in the new format by the
end of 2006.  We are on track against our plan although there
remains much to do."

The Board has also appointed David Michels as a non-executive
director with effect from 1 March 2006.  Mr. Michels has held a
number of senior positions in the leisure industry most recently
as Group Chief Executive of Hilton Group plc.  He is a
non-executive Director of British Land plc.

Marks and Spencer Group plc's Q4 trading statement for the 13
weeks to 1 April 2006 will be announced on 11 April 2006.

CONTACT:  MARKS & SPENCER GROUP PLC
          Michael House
          47-67 Baker Street
          London
          England
          W1U 8EP
          Phone: +44 20 7935 4422
          Fax: +44 20 7487 2679
          Web site: http://www.marksandspencer.com


MARLOW ROPES: FKI Buys Marine, Offshore Ropes Business
------------------------------------------------------
FKI plc has acquired the Marine and Offshore Ropes business of
Marlow Ropes Ltd. from the Administrative Receivers for a
consideration of GBP1.1 million payable at completion.

The Business is a market leader in high performance fiber ropes
for Offshore and Single Point Mooring applications.  The
acquisition will be highly complementary for FKI's steel-wire
rope manufacturer, Bridon and will extend Bridon's product
offering in specialized mooring systems, to include both steel
wire rope and fiber rope solutions.  Bridon and the Business
share many similar customers who will be better served by the
combined business.

In the ten months to September 2005, the Business had sales of
GBP10.3 million and was loss-making, but is expected to be
approximately breakeven in FKI's first year of ownership.

                            *   *   *

The Governor and Company of the Bank of Scotland appointed Fraser
James Gray (Office Holder No 008905) and Peter Mark Saville
(Office Holder No 009029) joint administrative receiver of Marlow
Ropes Limited (Reg No 00304545) on Nov. 10.

Marlow Ropes -- http://www.marlow-ropes.com-- is a manufacturing
company servicing the global marine and offshore markets with a
diverse range of light-weight synthetic fiber ropes, fender and
buoyancy products, for towage, mooring, sub- sea installation and
recovery operations.  The company employs
320 staff.

CONTACT:  MARLOW ROPES LTD.
          South Road
          Diplocks Way Industrial Estate
          Hailsham BN27 3JS
          East Sussex
          Phone: 01323 847234
          Fax: 01323 440093

          KROLL GLASGOW
          Afton House 26 West Nile Street
          Glasgow, Scotland G1 2PF
          United Kingdom
          Phone: 44 (0) 141 248 1250
          Fax: 44 (0) 141 248 1262
          Web site: http://www.krollworldwide.com

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

          FKI PLC
          Falcon Works
          P.O. Box 7713
          Meadow Lane
          Loughborough
          Leicestershire LE11 1ZF
          Phone: +44 (0) 20 7832 0000
          Fax: +44 (0) 20 7832 0001
          Web site: http://www.fki.co.uk


MERIDIAN WINDOWS: Files for Liquidation
---------------------------------------
J. R. Weaver, director of Meridian Windows & Doors Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Nov. 25, 2005 at Irwin & Company, Station House,
Midland Drive, Sutton Coldfield, West Midlands B72 1TU.

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

CONTACT:  MERIDIAN WINDOWS & DOORS LIMITED
          Unit 1
          Birmingham Road
          Millisons Wood
          Coventry
          West Midlands
          CV5 9AZ
          United Kingdom
          Phone: +44 01676 522904
          Fax: +44 01676 521559
          Web site: http://www.meridianwindows.com

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


MG ROVER: Nanjing in Final Talks over Investment
------------------------------------------------
The future of MG Rover may be decided next week, as talks between
Chinese owner Nanjing Automobile (Group) Corp. and its British
partner are almost completed.

The deal between Nanjing and GB Sports Car Company will see the
production of MG Cars at Rover's Longbridge site.  However,
whether GB Sports' financial backers will support the agreement
remains uncertain, according to the Financial Times.

The paper quoted a person close to the negotiations as saying:
"Everything in principle is agreed.  It is now up to the
investors to actually put their cheques on the table."

GB Sports Head Fraser Welford-Winton, who has been in touch with
British investors this week, will meet U.S.-based financial
backers early next week.

Meanwhile, Auto Industry said Nanjing moving ahead with plans to
manufacture cars based on MG Rover 75 and TF designs despite its
ongoing row with Shanghai Automotive Industry Corp. over
intellectual property rights.

Nanjing is said to be eyeing to produce 13,000 cars based on the
Rover 75/MG ZT and 7,000 MG TF convertibles by 2007 both in China
and at Longbridge.

Automotive News, in another report, said by 2011, Nanjing plans
to assemble 85,000 MG 7s annually and 25,000 MG TFs.  It also
eyes obtaining as many components as possible in China to save on
production cost.

Nanjing and SAIC will eventually be forced to work together on
Rover-based cars, according to industry insiders.  Sources have
disclosed the Chinese government has already told to the two
firms to cooperate.

In April of last year, the Longbridge plant was shut down
following the collapse of MG Rover due to financial troubles.
Nanjing acquired the carmaker's assets in July for GBP54 million.

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

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


M L T PITTS: Non-life Insurance Firm Liquidates
-----------------------------------------------
R. J. G. Sutcliffe, director of M L T Pitts (Worcester) Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Nov. 30 at Ward & Co, Bank House, 7 Shaw Street,
Worcester WR1 3QQ.

B. J. Ward of Ward & Co. Bank House, 7 Shaw Street, Worcester WR1
3QQ was appointed liquidator, and his remuneration was set at up
to GBP3,000 plus disbursements and VAT, which can be drawn as
appropriate.  The liquidator's disbursements will consist of (i)
advertising, (ii) bonding.

CONTACT:  M L T PITTS (WORCESTER) LIMITED
          95a High Street, Worcester
          Worcestershire WR1 2HL
          Phone: 01905612873

          WARD & CO.
          Bank House
          Shaw Street
          Worcester
          Worcestershire WR1 3DT
          Phone: 01905 25000
          Fax: 01905 26555
          E-mail: aws@ward-co.co.uk


MYRIAD TRADE: Calls in Administrators from Begbies Traynor
----------------------------------------------------------
Paul Stanley and Stephen Conn (IP Nos 8123, 1772) of Begbies
Traynor were appointed administrators of Myriad Trade Sales
Limited (Company No 04806620) on Dec. 22.  The company sells
books and newspapers.

CONTACT:  MYRIAD TRADE SALES LIMITED
          Bank House
          Market Street
          Whaley Bridge
          High Peak SK23 7AA

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


NIX TECHNOLOGIES: Names Mercer & Hole Administrator
---------------------------------------------------
Steven Leslie Smith and John Anthony Dickinson (IP Nos 6424,
9342) of Mercer & Hole Nix Technologies Ltd. (Company No
04217059) on Dec. 19.

NIX Technologies Limited -- http://www.nixtechnologies.com/-- is
a telecommunication company in United Kingdom that provides Voice
and Data services to potential telecommunications operators in
Middle East, Eastern Europe and Asia.  It owns operational nodes
in Germany, Sweden, United Kingdom, United States and Iran, it
aims to provide high level of services and flexibility to
customers using dedicated Satellite/direct links.

CONTACT:  NIX TECHNOLOGIES LTD.
          Unit two, The Courtyard
          Eastern Road,
          Bracknell - Berkshire RG12 2XB
          United Kingdom
          Phone: +44 1344 301555
          Fax: +44 1344 301300

          MERCER & HOLE
          International Press Centre,
          76 Shoe Lane, London EC4A 3JB
          Phone: +44 (0) 20 7353 1597
          Fax: +44 (0) 20 7353 1748
          DX: 469 London/Chancery Lane
          E-mail: london@mercerhole.co.uk
          Web site: http://www.mercerhole.co.uk


NOUVELLE ENGINEERING: Calls in Liquidator
-----------------------------------------
Nouvelle Engineering Ltd. informs that resolutions to wind up the
company were passed at an EGM held on Sept. 27 at 8 High Street,
Yarm, Stockton on Tees TS15 9AE.

J. Harvey Madden, Taylor Rowlands, 8 High Street, Yarm,
Stockton-on-Tees TS15 9AE was appointed liquidator.

Nouvelle Engineering offers single and twin, conical or parallel,
jacketed or vented barrels and feed housings.

CONTACT:  NOUVELLE ENGINEERING LTD.
          Unit 11, York Way
          Mandale Industrial Estate
          Thornaby-On-Tees, TS17 6BX
          U.K.
          Phone: +44 (0) 1642 673435
          Fax: +44(0) 1642 612636


PAN PRESENTATIONS: Event Organizer Liquidates
---------------------------------------------
P. G. Webster, director of Pan Presentations Limited, informs
that a resolution to wind up the company was passed at an EGM
held on Nov. 28 at Hilton Cobham, Seven Hills Road South, Cobham,
Surrey KT11 1EW.

Tony James Thompson of Piper Thompson, Mulberry House, 53 Church
Street, Weybridge, Surrey KT13 8DJ was appointed liquidator.

CONTACT:  PAN PRESENTATIONS LIMITED
          Lansbury Estate, 102 Lower Guildford Road
          Woking, Surrey GU21 2EP
          Phone: 01483799141

          PIPER THOMPSON
          Mulberry House,
          53 Church Street, Weybridge,
          Surrey KT13 8DJ
          Phone: 01932855515


PREMIER OFFICE: Supplier Calls in Administrator
-----------------------------------------------
T. F. Corfield (IP No 1071) of Griffin & King was appointed
administrator of Premier Office Supplies (Midlands) Limited
(Company No 4736377) on Dec. 23.

Premier Office -- http://www.premier-office-supplies.co.uk/--  
offers the widest choice of office and computer supplies.

CONTACT:  PREMIER OFFICE SUPPLIES
          42 Portman Road
          Reading, Berks RG30 1EA
          Phone: 0118 951 2000
          Fax: 0118 951 3000
          E-mail: sales@premier-office-supplies.co.uk

          GRIFFIN & KING
          26-28 Goodall Street,
          Walsall, West Midlands WS1 1QL
          Phone: 01922 722205
          Fax: 01922 639480


READYBAKE (UK): Appoints Sanderlings Administrator
--------------------------------------------------
Andrew Fender (IP No 6898) of Sanderlings was appointed
administrator of Readybake (UK) Limited (Company No 05421681) on
Dec. 22.  Its registered office is at Unit B16, Moss Industrial
Estate, St Helen's Road, Leigh, Lancashire WN7 3PT.

CONTACT:  SANDERLINGS LLP
          Sanderling House,
          1071 Warwick Road,
          Acocks Green, Birmingham B27 6QT


RED HOT: Publishing Firm Contacts Administrator
-----------------------------------------------
S. R. Thomas and T. J. Binyon (IP Nos 8920, 9285) of Tenon
Recovery were appointed joint administrator of Red Hot Publishing
Limited (Company No 4263028) on Dec. 22.  The company is
publishes magazines and designs Web sites.

CONTACT:  RED HOT PUBLISHING
          Unit 108-113 Building B,
          Faircharm Trading Estate
          8-12 Creekside, London SE8 3DX
          Phone: 020 8691 2990

          TENON RECOVERY
          Sherlock House
          73 Baker Street
          London W1U 6RD
          Phone: 020 7935 5566
          Fax: 020 7935 3512
          E-mail: bakerstreet@tenongroup.com
          Web site: http://www.tenongroup.com


RED ROSE: Names Begbies Traynor Liquidator
------------------------------------------
G. Thompson, chairman of Red Rose Slippers Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Nov. 24 at Begbies Traynor, 1 Winckley Court, Chapel St, Preston
PR1 8BU.

David R. Acland of Begbies Traynor, 1 Winckley Court, Chapel
Street, Preston, Lancashire PR1 8BU was appointed liquidator.

CONTACT:  RED ROSE SLIPPERS LIMITED
          Union Mill, Bacup Road, Rossendale
          Lancashire BB4 7JN
          Phone: 01706210022

          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


SANCTUARY GROUP: Bankers Agree to Raise Facilities
--------------------------------------------------
On 5 December 2005, The Sanctuary Group plc, responding to press
speculation, said that while the Board is confident that the
actions taken to cut costs and focus on the core activities of
the Company will allow the Company to continue to trade over the
medium term, the Company will remain dependent on the support of
its bankers in the near term and is likely to require further
funding in the near term.

To ensure sufficient funding to continue to meet some of the
exceptional costs associated with the Company's restructuring and
for working capital purposes, it has agreed with its principal
bankers to increase its facilities to GBP134.125 million.

In addition, as previously announced, the Company has a further
GBP5.25 million of current bank facilities.  The Company has
amended the appropriate terms of its outstanding GBP30 million
Convertible Loan Notes to take account of these changes.

The Board continues to enjoy the support of its bankers.

Possible Fund Raising

The Board recognizes that the level of debt in the Group is too
high and is actively exploring a number of options for the medium
and long term financing of the Group.  As outlined on 5 December,
one of these options is a significant equity fund raising through
Evolution Securities, the proceeds of which would be used to
reduce debt levels.  The details of any such equity issue are
still being considered and an announcement will be made if and as
appropriate.

CONTACT:  THE SANCTUARY GROUP PLC
          Sanctuary House
          45 - 53 Sinclair Road
          London W14 0NS
          Phone: +44 (0) 20 7602 6351
          Fax: +44 (0) 20 7603 5941
          E-mail: info@sanctuarygroup.com
          Web site: http://www.sanctuarygroup.com


SEA CONTAINERS: Names Robert Mackenzie President
------------------------------------------------
Sea Containers Ltd. appointed Robert MacKenzie President and
Chief Executive Officer of the company effective Jan. 4, 2006.

James B. Sherwood, the founder of the company, remains Chairman
in a non-executive capacity and Ian C. Durant, Chief Financial
Officer and Interim Chief Executive has reverted to the purely
Chief Financial Officer role.  Mr. Sherwood underwent surgery in
November and handed over his Chief Executive duties on a
temporary basis to Mr. Durant.  Mr. Sherwood has now recovered.

Mr. MacKenzie is 53, a British national with an education in
accounting and finance after which he qualified as a Chartered
Accountant.  His recent career has encompassed being Group
Financial Director of BET plc 1991-1994, Chief Executive and then
Chairman of National Parking Corporation 1995-1999, Chairman of
PHS Group plc 2000-2005 and most recently he was a senior advisor
to the Texas Pacific Group.

Mr. Sherwood said: "We are delighted to welcome Bob MacKenzie to
the company.  The company needs a leader with Bob's wide
experience to tackle the current challenges in each of our
operating divisions."

Mr. MacKenzie will be nominated for election to the company's
board of directors along with Michael Ingham, a highly
experienced sea transport executive, at the 2006 annual meeting
of shareholders, which will be held at the beginning of June
2006.

Mr. MacKenzie has signed a three-year contract with extension
possible by mutual consent.

Sea Containers -- http://www.seacontainers.com-- (NYSE: SCRA and
SCRB) is a marine container lessor, railways and ferries
operator.

                          Restructuring Plan

Sea Containers is restructuring its loss-making ferries division,
which consists of Finnish-based Silja Oy Ab (the largest), a
car-carrying ferries business with 9 ships, and New York-based
commuter ferry service SeaStreak.  It has hired Societe Generale
to sell Silja.  Further, it is selling cruise ship MV Walrus,
Swedish flag cruise ship MV Silja Opera, and MV Finnjet.  It is
also taking out one of its three SuperSeaCat fast ferries, and
investing US$12 million to upgrade its flagship vessels Silja
Serenade and Silja Symphony.  The funding for the modernization
will be raised through asset sales.  It is reducing staff and
offices in Finland, Sweden and Germany to save up to US$18
million.

The company reported a third-quarter net loss of US$34.4 million
on revenue of US$456 million, and a nine-month net loss of
US$58.5 million on revenue of US$1.3 billion.

CONTACT:  SEA CONTAINERS LTD.
          Media and general enquiries:
          Lisa Barnard, Director of Communications
          Phone: +44 20 7805 5850
          E-mail: lisa.barnard@seacontainers.com

          Investor Relations enquiries:
          William W. Galvin III, The Galvin Partnership
          Phone: +1 (203) 618-9800
          E-mail: wwg@galvinpartners.com


SECOND CITY: Appoints Liquidators from Begbies Traynor
------------------------------------------------------
N. A. Benster, chairman of Second City Shopfitters Limited,
informs that resolutions to wind up the company were passed at an
EGM held on Nov. 24 at Elliot House, 151 Deansgate, Manchester M3
3BP.

D. Bailey and G. N. Lee of Begbies Traynor, Elliot House, 151
Deansgate, Manchester M3 3BP were appointed joint liquidators.

CONTACT:  SECOND CITY SHOPFITTERS LTD.
          Maxron House
          Green Lane
          Romiley
          Stockport
          Cheshire
          SK6 3JQ
          Phone: 0161 406 6666
          Fax: 0161 406 6144

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


SPA NATION: Administrators from DTE Leonard Curtis Enter Firm
-------------------------------------------------------------
P. D. Masters and A. Clifton (IP Nos 8262, 8766) of DTE Leonard
Curtis were appointed administrator of Spa Nation Limited
(Company No 5143965) on Dec. 20.  Its registered office is at 34
Waterloo Road, Wolverhampton WV1 4DG.

CONTACT:  SPA NATION LTD.
          177 Birmingham Rd.,
          Wolverhampton, West Midlands WV2 3LU
          Phone: 01902 459424

          DTE LEONARD CURTIS
          85-89 Colmore Row
          Birmingham
          West Midlands B3 2BB
          Phone: 0121 200 2111
          Fax: 0121 200 2122
          E-mail: AClifton@dte-leonardcurtis.com


STORM DESIGN: Goes into Liquidation
-----------------------------------
G. Buckley, chairman of Storm Design Limited, informs that
resolutions to wind up the company were passed at an EGM held on
Nov. 25, 2005 at Valentine & Co., 4 Dancastle Court, 14 Arcadia
Avenue, London N3 2HS.

Robert Valentine and Mark Reynolds of Valentine & Co, 4 Dancastle
Court, 14 Arcadia Avenue, London N3 2HS were appointed joint
liquidators.

CONTACT:  STORM DESIGN LIMITED
          Web site: http://ww.storm-uk.net

          VALENTINE & CO.
          4 Dancastle Court
          14 Arcadia Avenue, London N3 2HS
          Phone: 020 8343 3710
          Fax: 020 9343 4486
          Web site: http://www.valentine-co.com


SUPERCLEAN (EAST ANGLIA): In Liquidation
----------------------------------------
J. Largey, director and chairman of Superclean (East Anglia)
Limited, informs that a resolution to wind up the company was
passed at an EGM held on Nov. 28 at King Street House, 15 Upper
King Street, Norwich NR3 1RB.

Matthew Robert Howard and Robert Geoffrey Rose of Larking Gowen,
King Street House, 15 Upper King Street, Norwich NR3 1RB were
appointed joint liquidators.

CONTACT:  SUPERCLEAN EAST ANGLIA LTD.
          Capstan House
          Dock Tavern Lane
          Great Yarmouth
          NR31 6PY
          Phone: 07771 556869
          Web site: http://www.superclean-eastanglia.co.uk


TMC INNOVATIONS: Appoints Joint Liquidators
-------------------------------------------
R. Bure, director of TMC Innovations Limited, informs that a
resolution to wind up the company was passed at an EGM held on
Nov. 24, 2005 at Martins Bank Chambers, 25 High Street, Banbury,
Oxfordshire OX16 5EG.

Peter John Windatt and Gary Steven Pettit of BRI Business
Recovery and Insolvency, 100-102 St James Road, Northampton NN5
5LF were appointed joint liquidators.

CONTACT:  TMC INNOVATIONS LIMITED
          Web site: http://www.tmc-innovations.com/

          BRI BUSINESS RECOVERY AND INSOLVENCY
          100-102 St James Road,
          Northampton NN5 5LF
          Phone: 01604 754352
          Fax: 01604 751660
          E-mail: pwindatt@briuk.co.uk


TOO CO: Administrator from Bond Partners Moves in
-------------------------------------------------
T. Papanicola (IP No 005496) of Bond Partners LLP was appointed
administrator of Too Co Limited (Company No 03883838) on Dec. 21.
The company offers entertainment activities.

CONTACT:  TOO CO LTD.
          Sandy Lane, Oxford,
          Oxfordshire OX4 6LL
          Phone: 01865778970

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


UK CIRCUITS: Enters Administration
----------------------------------
Jonathan Lord and Robert Cooksey (IP Nos 9041, 9040) of
Bridgestones were appointed administrators of UK Circuits Limited
(Company No 03052170) on Dec. 21.

UK Circuits Ltd. -- http://www.ukcircuits.co.uk/-- manufactures
electronic components.

CONTACT:  UK CIRCUITS LTD.
          Stockfield Road
          Chadderton, Oldham OL9 9LG
          Lancashire
          Phone: 0161 627 4050
          Fax: 0161 633 4077

          BRIDGESTONES
          125-127 Union Street
          Oldham
          Lancashire OL1 1TE
          Phone: 0161 785 3700
          Fax: 0161 785 3701
          E-mail: rlc@bridgestones.co.uk


WADEBAY LIMITED: Travel Agent Hires Administrator
-------------------------------------------------
Christakis Michael Iacovides (IP No 005428) of Jeffreys Henry
Jacobs was appointed administrator of travel agent Wadebay
Limited (Company No 04257319) on Dec. 22.

CONTACT:  WADEBAY LTD.
          Phone: 0208 920 9431

          JEFFREYS HENRY JACOBS
          124-128 City Road, London EC1V 2NJ
          Phone: 020 7670 9010
          Fax: 020 7670 9011
          Web site: http://www.jhj.co.uk


WM MORRISON: Closure of Two Depots Affects 1,600 Workers
--------------------------------------------------------
Wm Morrison Supermarkets plc is to shut down two of its
distribution depots, affecting 1,600 jobs.

The Guardian quoted the company, which was set to issue an update
on its Christmas performance yesterday, as saying:  "(We are)
aiming to minimize redundancies as far as possible and will be
talking about alternative roles within Morrisons."

The closures come as a result of a review of Morrison's
distribution network following its GBP3 billion acquisition of
the Safeway supermarket chain in March 2004, according to
Reuters, in another report.  The Safeway takeover has resulted in
increasing costs, a string of profit warnings, and the disposal
of over 200 stores.

A spokesman for the company said: "We announced in September that
the depots were being reviewed following the Safeway takeover and
the planned closure of some stores and we can confirm now that
the Aylesford and Bristol centers are to shut.  The figure of
1,600 job cuts is about right."

Meanwhile, Morrison revealed it has more depots than it needs to
supply its stores, according to Sharecast.  ABCMoney, on the
other hand, said the company, which employs around 150,000 people
and operates a network of 360 stores and five distribution
centers, will try to find jobs for the affected.

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


YEOMANS DEVELOPMENTS: Names Middleton Partners Administrator
------------------------------------------------------------
Julie Anne Palmer and Michael Francis Stevenson (IP Nos 8154,
8835) of Middleton Partners were appointed administrators of
Yeomans Developments Limited (Company No 05054071) on Dec. 19.
The company develops property.

CONTACT:  YEOMANS DEVELOPMENTS LIMITED
          Unit 7, Norton Enterprise Park
          Whittle Road
          Churchfields
          Salisbury SP2 7YS

          MIDDLETON PARTNERS
          65 St Edmunds Church Street,
          Salisbury, Wiltshire SP1 1EF
          Phone: 01722 435 192
          Fax: 01722 421102
          E-mail: julie@middletonpartnerssalisbury.co.uk
          Web site: http://www.middletonpartners.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 to
be reliable, but is not guaranteed.

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


                 * * * End of Transmission * * *