/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/060222.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Wednesday, February 22, 2006, Vol. 7, No. 38 Headlines C Z E C H R E P U B L I C LG.PHILIPS: State Financial Aid Unnecessary, Trade Minister Says G E R M A N Y C. MEUSER: Registration of Claims Ends Feb. 22 DEVA TROCKENBAU: Charlottenburg Court Calls In Administrator DR. SCHENK: Court Sets Feb. 24 Claims Bar Date FRANZ BISPING: Muenster Court Begins Bankruptcy Process GEBRUEDER KRALISCH: Taps Andre Loffler to Administer Assets GEBRUEDER HEMPEL: Succumbs to Bankruptcy Proceedings GBR DORSCH: Claims Verification Slated for April 5 HAHN & FRIEDRICH: Creditors' Meeting Set on March 30 HELMUT JOHANNSEN: Names Dr. Jorg Nerlich as Administrator H. K. PROFILER: Court Opens Bankruptcy Process in Arnsberg SCHLOSSEREI & METALLBAU: Court Rules on Bankruptcy SG INDUSTRIE: Insolvency Report Out March SMYREK MUELLER: Dresden Court Stays All Pending Suits SOWI FENSTER: Court to Verify Claims on April SPEZIALITATEN-KASEREI: Bankruptcy Proceedings Begin K A Z A K H S T A N CENTERCREDIT INTERNATIONAL: Moody's Rates New Notes at Ba3 KAMELOT-2030: Declared Bankrupt PETREN-K: Succumbs to Bankruptcy Proceedings in Kostanai SAN & K: Last Day for Filing Proofs of Claims Set TAIM-2005: Court Sets March 6 Claims Bar Date TEMP-II: Creditors' Claim Due Next Month N E T H E R L A N D S ROYAL SHELL: Cancels 375,000 A Shares in Buyback R U S S I A ASTRAKHANSKIY DISTILLERY: Claims Filing Period Ends Next Week BALAKOVSKAYA: Company Falls Into Bankruptcy CHASTOOZERSKOYE: Kurgan Court Opens Bankruptcy Proceedings CREDIT-INVEST-SERVICE: Insolvency Manager Takes Over Helm KIROVSKOYE: Bankruptcy Supervision Procedure Begins MEKON: Bankruptcy Hearing Set April 13 MOROZKO: Chelyabinsk Court Rules on Bankruptcy NORD-WOOD: Declared Insolvent by Arkhangelsk Court URAL-MASH-STROY: Court Names A. Bannykh as Insolvency Manager VOLGOGRADSKIY: Selling RUB14 Million Assets Via Public Auction S W I T Z E R L A N D GATE GOURMET: S&P Ups Rating to B- from D with Stable Outlook U K R A I N E BAHCHISARAJ' REINFORCED: Goes Into Liquidation BEREZANSKA AGROPROMTEHNIKA: Bankruptcy Supervision Begins FINANCIAL INITIATIVE: S. Ptushko Named Insolvency Manager HLIBOROB: Under Bankruptcy Supervision in Hmelnitskij SHIROKIVSKIJ AGROTEHSERVICE: Succumbs to Bankruptcy TALISMAN: Declared Insolvent by Odessa Court UKRNAFTOSERVISKOMPLEKT: Insolvency Manager Takes Over Helm UKRSOTSBANK: Moody's Reviews Low-B Ratings for Upgrade U N I T E D K I N G D O M 4 SITE: Brings In Vantis Numerica as Joint Administrators BROOKLANDS NO.1: Appoints Bridgestones Administrator CANE OF KENDAL: Taps Timothy Hargreaves to Liquidate Assets CORRUPAD PACKAGING: Hires Begbies Traynor to Administer Assets CRUSADER DISPLAYS: Manufacturer Calls In Administrator D KILLEN: Building Contractors Hire Joint Administrators ERINQUAY LIMITED: Liquidates Assets in Hampshire EUROTUNNEL S.A.: Creditors Grant Second Waiver Through March EXPRESSWORKS LIMITED: Joint Administrators Enter Firm F HACKNEY: Haulage Contractor Hires Liquidator FKI PLC: Moody's Revises Outlook on Ba1 Ratings to Negative FORTRESS SECURITY: Calls In Joint Liquidators GREENWICH ENERGY: Electricity Supplier Hires Administrator J.L. FRENCH: U.K. Subsidiary Goes Into Administration KINDER 2000: Nursery School Surrenders to Bankruptcy L.I.G. SUPPLIES: Joint Administrators from Baker Tilly Move In LTR (LIFTS): Taps Joint Administrators from BDO Stoy Hayward MACWORTH TOOLS: Administrator from Till Morris Takes Over Helm MICROS4U LIMITED: Registration of Claims Ends March 14 MPM FABRICATIONS: Starts Winding Up Process PAN-DYNAMICS: Food Manufacturer Starts Winding Up Process PROFESSIONAL INDEMNITY: Insurance Broker Calls In Administrator PROJECT DESIGN: Names Rothman Pantall & Co. to Administer Assets RAPID WINDOW: Begins Bankruptcy Proceedings REALM INTERIORS: Hires Administrators from Sanderlings LLP REDLINE PERFORMANCE: Yields to Voluntary Liquidation TARGET UNDERWRITING: Hires David Rubin & Partners Administrator T-COMPUTERS PLC: Joint Administrators from PKF Enter Firm TRADEHOUSE RETAIL: Taps Administrators from Elwell Watchorn WALTHAM CONTRACTORS: Calls In Middleton Partners Administrator WORLD CLASS: Courier Company Names Piper Thompson Administrator ZENITH BUILDERS: Names Tait Walker to Administer Assets ZEST4 ELECTRICITY: Appoints David Rubin & Partners Administrator * DLA Piper Introduces 59 New Partners Worldwide ********** =========================== C Z E C H R E P U B L I C =========================== LG.PHILIPS: State Financial Aid Unnecessary, Trade Minister Says ---------------------------------------------------------------- The Czech LG.Philips Displays plant in Hranice, North Moravia, does not need financial help from the state, CTK cited Industry and Trade Minister Milan Urban as saying. The Hranice plant previously suspended its cathode ray tube production following the insolvency proceedings of its parent company but eventually resumed operations early February. "Philips is running at normal output and is financially self- sufficient, so at the moment an export loan is not necessary," Mr. Urban told CTK. The Trade Ministry previously thought that the plant would need some CZK300 million from the Czech Export Bank, or financial support from the state-controlled company, Osinek, CTK continues. Creditor talks with the company's bankruptcy administrator are ongoing. A creditor source revealed that the bankruptcy would likely result in a liquidation, not a recovery, and banks owed over $600 million could claim on global assets including land, Reuters reports. Philips to Pay Job-cut Costs According to the Troubled Company Reporter-Asia Pacific on Feb. 7, Philips Electronics will pay for severance and job- assistance programs for the employees of failed units at LG.Philips Displays, half of which is owned by the Dutch Company. Philips, which owns a 50% stake in LG.Philips, had agreed to provide a social plan for 202 employees in the Netherlands and 639 staff in a French plant in Dreux. Philips declined to say how much the social plan would cost. A social plan involves a payout and assistance in finding a new job. LG.Philips Displays Holding B.V. is the European holding company for LG.Philips Displays. The firm disclosed that it will not be able to provide further financial support to certain loss-making subsidiaries because it has been unable to obtain sustainable new or additional funding. The holding company filed for insolvency protection on Jan. 27, along with its Dutch subsidiary, LG.Philips Displays Netherlands B.V., and its German subsidiary in Aachen. Given the holding company's inability to further fund the subsidiaries, its operations in France, Czech Republic, Slovakia, Mexico and the U.S. are also reviewing their financial position. About LG.Philips Displays Headquartered in Hong Kong, LG.Philips Displays -- http://www.lgphilips-displays.com/-- manufactures cathode ray tubes for use in televisions and computer monitors. The company produces one in every four television and computer monitor tubes sold. Making use of its global manufacturing infrastructure, it provides regional supplies to top TV and monitor brands worldwide. LG.Philips Displays continues to be committed to the CRT industry and will maintain a strong profile based on its competitive operations and innovative, high-quality products. ============= G E R M A N Y ============= C. MEUSER: Registration of Claims Ends Feb. 22 ---------------------------------------------- The District Court of Hagen opened bankruptcy proceedings against C. Meuser Gesellschaft mit beschrankter Haftung - Schrauben- und Eisenwarenfabrik on Jan. 31. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 22, 2006, to register their claims with court-appointed provisional administrator Andreas Grund. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Hagen, Heinitzstrasse 42, 58097 Hagen, Etage 2, Raum 283, at 10:15 a.m. on March 15, 2006, at which time the administrator will present his first report on 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: C. MEUSER GESELLSCHAFT MIT BESCHRANKTER HAFTUNG - SCHRAUBEN- UND EISENWARENFABRIK Industriestr. 5, 58840 Plettenberg Contact: Richard Walle, Manager Ratscheller Weg 13, 58840 Plettenberg Christian Walle, Manager Kaiserstr. 20, 58840 Plettenberg Andreas Grund, Administrator Grabenstr. 28, 58095 Hagen Tel: 02331-397656 Fax: +4923313976570 DEVA TROCKENBAU: Charlottenburg Court Calls In Administrator ------------------------------------------------------------ The District Court of Charlottenburg opened bankruptcy proceedings against DEVA Trockenbau GmbH on Jan. 26. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until April 27, 2006, to register their claims with court-appointed provisional administrator Ruediger Wienberg. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Charlottenburg, Amtsgerichtsplatz 1, 14057 Berlin, II. Stock Saal 218, at 10:00 a.m., on March 16, 2006, at which time the administrator will present his first report on the insolvency proceedings. The court will also verify the claims set out in the administrator's report at 10:00 a.m., on June 22, 2006, at the same venue. CONTACT: DEVA TROCKENBAU GmbH Buchenstr.11,12623 Berlin Ruediger Wienberg, Administrator Giesebrechtstr. 1, 10629 Berlin DR. SCHENK: Court Sets Feb. 24 Claims Bar Date ---------------------------------------------- The District Court of Hagen opened bankruptcy proceedings against DR. SCHENK Neue Hagfa GmbH on Jan. 31. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 24, 2006, to register their claims with court-appointed provisional administrator Ernst Wiesner. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Hagen, Heinitzstrasse 42, 58097 Hagen, Etage 2, Raum 283, at 9:00 a.m. on March 17, 2006, at which time the administrator will present his first report on 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: DR. SCHENK NEUE HAGFA GmbH Brinkstr. 76, 58097 Hagen Contact: Marek Gurak, Manager Ernst Wiesner, Administrator Kirchender Dorfweg 14, 58313 Herdecke Tel: 02330-80880 Fax: +492330808888 FRANZ BISPING: Muenster Court Begins Bankruptcy Process ------------------------------------------------------- The District Court of Muenster opened bankruptcy proceedings against Franz Bisping GmbH & Co. on Feb. 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 Dr. Norbert Kuepper. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Muenster, Gerichtsstr 2-6, 48149 Muenster, Sitzungssaal Saal 13 B, at 11:45 a.m. on March 23, 2006, at which time the administrator will present his first report on 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: FRANZ BISPING GmbH & Co. Weseler Str. 565, 48163 Muenster Contact: Franz and Gabriele Bisping, Managers Weseler Str. 565, 48163 Muenster Dr. Norbert Kuepper, Administrator Paderborner Str. 11, 33415 Verl GEBRUEDER KRALISCH: Taps Andre Loffler to Administer Assets ----------------------------------------------------------- The District Court of Magdeburg opened bankruptcy proceedings against Gebrueder Kralisch GbR on Jan. 25. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 24, 2006, to register their claims with court-appointed provisional administrator Andre Loffler. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Magdeburg, Saal D, Insolvenzabteilung, Liebknechtstrasse 65-91, 39110 Magdeburg, at 9:30 a.m. on March 28, 2006, at which time the administrator will present his first report on 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: GEBRUEDER KRALISCH GbR Weizengrund 9, 39130 Magdeburg Contact: Nicky Kralisch, Manager Weizengrund 9, 39130 Magdeburg Marco Kralisch, Manager Wolfenbuetteler Str. 21, 39112 Magdeburg Andre Loffler, Administrator Klewitzstr. 15, 39112 Magdeburg Tel: 0391/7324630 Fax: 0391/7324633 GEBRUEDER HEMPEL: Succumbs to Bankruptcy Proceedings ---------------------------------------------------- The District Court of Essen opened bankruptcy proceedings against Gebrueder Hempel GmbH & Co. KG on Feb. 1. 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 Rolf Otto Neukirchen. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Essen, Zweigertstr. 52, 45130 Essen, I.OG, gelber Bereich, Saal 185, at 9:20 a.m. on March 24, 2006, at which time the administrator will present his first report on 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: GEBRUEDER HEMPEL GmbH & Co. KG Noggerathstr. 8 A, 45144 Essen Rolf Otto Neukirchen, Administrator Zweigertstr. 28-30, 45130 Essen Tel: (0201) 438740 Fax: +492014387479 GBR DORSCH: Claims Verification Slated for April 5 -------------------------------------------------- The District Court of Hamburg opened bankruptcy proceedings against GbR Dorsch/Espinoza -- Grafik/Design on Jan. 25. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 3, 2006, to register their claims with court-appointed provisional administrator Dr. Gideon Bohm. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Hamburg, Sievekingplatz 1, 20355 Hamburg, 4. Etage, Anbau, Saal B 405, at 1:05 p.m. on April 5, 2006, at which time the administrator will present his first report on 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: GBR DORSCH/ESPINOZA -- GRAFIK/DESIGN Schaferstrasse 26, 20357 Hamburg Attn: Claus Dorsch, Manager Schaferstrasse 26, 20357 Hamburg Arne Espinoza, Manager Tangstedter Landstrasse 158, 22417 Hamburg Dr. Gideon Bohm, Manager Bachstrasse 85a, 22083 Hamburg Tel: 040/3208360 Fax: 040/32083636 HAHN & FRIEDRICH: Creditors' Meeting Set on March 30 ---------------------------------------------------- The District Court of Detmold opened bankruptcy proceedings against Hahn & Friedrich GmbH on Feb. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 10, 2006, to register their claims with court-appointed provisional administrator Raimund Schafmeister. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Detmold, Gerichtsstr. 6, 32756 Detmold, EG, Saal 12, at 11:15 a.m. on March 30, 2006, at which time the administrator will present his first report on 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: HAHN & FRIEDRICH GmbH Luetzowstr. 2, 32756 Detmold Attn: Sandra Hahn, Manager Nicole Friedrich, Manager Raimund Schafmeister, Administrator Moltkestr. 12, 32756 Detmold Tel: 05231/9210-0 Fax: 05231/9210-50 HELMUT JOHANNSEN: Names Dr. Jorg Nerlich as Administrator --------------------------------------------------------- The District Court of Duesseldorf opened bankruptcy proceedings against Helmut Johannsen GmbH on Feb. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 10, 2006, to register their claims with court-appointed provisional administrator Dr. Jorg Nerlich. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Duesseldorf, M�hlenstrasse 34, 40213 Duesseldorf, 4. OG. Altbau, A 409, at 8:30 a.m. on April 4, 2006, at which time the administrator will present his first report on 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: HELMUT JOHANNSEN GmbH Langerstr. 9, 40233 Duesseldorf Contact: Hertha Johannsen, Manager Reichenbacher Weg 36, 40627 Duesseldorf Dr. Jorg Nerlich, Administrator Louise-Dumont-Str. 25, 40211 Duesseldorf H. K. PROFILER: Court Opens Bankruptcy Process in Arnsberg ---------------------------------------------------------- The District Court of Arnsberg opened bankruptcy proceedings against H. K. Profiler GmbH on Jan. 30. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 28, 2006, to register their claims with court-appointed provisional administrator Dr. Axel Kampmann. Creditors and other interested parties are encouraged to attend the meeting at the District Court of Arnsberg, Eichholzstrasse 4, 59821 Arnsberg, EG, 328, at 10:30 a.m. on April 3, 2006, at which time the administrator will present his first report on 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: H. K. PROFILER GmbH Dolberger Str. 15, 59510 Lippetal Contact: Holger Kuettner, Manager Rossbach 11, 59510 Lippetal - Lippborg Dr. Axel Kampmann, Administrator Bronnerstrasse 7, 44141 Dortmund Tel: 0231/5411-0 Fax: 0231/5411-220 SCHLOSSEREI & METALLBAU: Court Rules on Bankruptcy -------------------------------------------------- The District Court of Dresden opened bankruptcy proceedings against Schlosserei & Metallbau Made GmbH on Jan. 25, 2006. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 9 to register their claims with court-appointed provisional administrator Hermann Kulzer. Creditors and other interested parties are encouraged to attend the meeting on April 20, 9:30 a.m. at the District Court of Dresden, Olbrichtplatz 1, 01099 Dresden at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and/or opt to appoint a new insolvency manager. CONTACT: SCHLOSSEREI & METALLBAU MADE GmbH Stuttgarter Str. 21 01189 Dresden Hermann Kulzer, Administrator Konigstrasse 25 01097 Dresden SG INDUSTRIE: Insolvency Report Out March ----------------------------------------- The District Court of Hagen opened bankruptcy proceedings against SG Industrie-Automation GmbH & Co. KG on Jan. 31, 2006. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 27 to register their claims with court-appointed provisional administrator Rolf Rattunde. Creditors and other interested parties are encouraged to attend the meeting on March 23, 8:52 a.m. at the District Court of Hagen, - Haupthaus (Neubau) -, Heinitzstrasse 42, 58097 Hagen, Etage 2, Raum 283 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: SG INDUSTRIE-AUTOMATION GmbH & Co. KG Luetkehofstr. 6 58091 Hagen Rolf Rattunde, Administrator Neumarktstr. 2c 58095 Hagen Phone: 02331-7887160 Fax: +4923317887162 SMYREK MUELLER: Dresden Court Stays All Pending Suits ----------------------------------------------------- The District Court of Dresden opened bankruptcy proceedings against Smyrek und Mueller GbR on Jan. 20, 2006. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Feb. 24 to register their claims with court-appointed provisional administrator Jorg Spies. Creditors and other interested parties are encouraged to attend the meeting on April 4, 9:30 a.m. at the District Court of Dresden, Olbrichtplatz 1, 01099 Dresden at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and/or opt to appoint a new insolvency manager. CONTACT: SMYREK UND MUELLER GbR Alte Schulstrasse 2 02964 Neudorf Jorg Spies, Administrator Glashuetter Strasse 104 01277 Dresden SOWI FENSTER: Court to Verify Claims on April --------------------------------------------- The District Court of Muenster opened bankruptcy proceedings against SOWI Fenster Sommer GmbH u. Co. KG on Feb. 1, 2006. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until March 17 to register their claims with court-appointed provisional administrator Stefan Meyer. Creditors and other interested parties are encouraged to attend the meeting on April 7, 9:45 a.m. at the District Court of Muenster, Gerichtsstr. 2-6, 48149 Muenster 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: SOWI FENSTER SOMMER GMBH U. CO. KG Iburger Strasse 7 49525 Lengerich Contact: Norbert Siering, Manager Stefan Meyer, Administrator Ostertorstr. 7, 32312 Luebbecke SPEZIALITATEN-KASEREI: Bankruptcy Proceedings Begin --------------------------------------------------- The District Court of Muenster opened bankruptcy proceedings against Spezialitaten-Kaserei De Lucia GmbH on Feb. 1, 2006. Consequently, all pending proceedings against the company have been automatically stayed. Creditors had until Feb. 20 to register their claims with court-appointed provisional administrator Horst Piepenburg. Creditors and other interested parties are encouraged to attend the meeting on March 13, 10:00 a.m. at the District Court of Muenster, Gerichtsstr. 2-6, 48149 Muenster 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: SPEZIALITATEN-KASEREI DE LUCIA GmbH Raiffeisenstrasse 3 46359 Heiden Contact: Guiseppe De Lucia, Manager Horst Piepenburg, Administrator Heinrich-Heine-Allee 20 40213 Duesseldorf =================== K A Z A K H S T A N =================== CENTERCREDIT INTERNATIONAL: Moody's Rates New Notes at Ba3 ---------------------------------------------------------- Moody's Investors Service assigned a long-term rating of Ba3 to the Tier I securities to be issued on a limited recourse basis by CenterCredit International B.V. for the sole purpose of funding a subordinated loan to Kazakhstan's JSC Bank CenterCredit. These notes and the underlying subordinated loan will qualify as junior subordinated debt as per Moody's classification. The Tier I securities will be undated perpetual, but will be callable by the issuer commencing from the tenth anniversary of the date of the issue (subject to regulatory approval). The amount of the issue has yet to be determined. The outlook for the rating is positive. Moody's notes that the rating is based on: (a) BCC's fundamental credit quality, as reflected in its unpublished global local currency rating; (b) the extent of the instrument's subordination against various classes of debt and equity; as well as (c) the predictability of ongoing payments. The level of the rating reflects the important role played by the bank in the Kazakh economy. Moody's considers that the likelihood of BCC receiving support from the government in case of distress is high, a key driver of the rating. The rating also takes account of the relative ranking of the Tier I securities, which will stand senior to equity and preferred stock holders, on a par with unsecured, perpetual, non-cumulative, subordinated obligations, but behind most of the senior unsecured and dated non-perpetual subordinated obligations, in case of liquidation. Moody's also notes that the rating factors the bank's mandatory obligation to suspend non-cumulative interest payments (in full or in part) on the underlying loan and on the notes, if it were in breach of the local prudential capital adequacy and liquidity requirements or if the payment were to result in such a breach. Historically, BCC has comfortably complied with the liquidity requirements while its prudential capital adequacy ratios have been notably tight. Headquartered in Almaty, Kazakhstan, BCC reported (unaudited) total consolidated assets of KZT258 billion (US$1.9 billion) under IFRS as at Sept. 30, 2005. Domiciled in the Netherlands, CenterCredit International B.V. is the special purpose vehicle of BCC. KAMELOT-2030: Declared Bankrupt ------------------------------- The Specialized Inter-Regional Economic Court of Kostanai region declared LLC Kamelot-2030 bankrupt. Proofs of claim will be accepted at Kostanai, Baitursynova Str. 70 on or before March 6, 2006. CONTACT: SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF KOSTANAI REGION Kostanai, Baitursynova Str. 70 PETREN-K: Succumbs to Bankruptcy Proceedings in Kostanai -------------------------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai region declared LLC PETREN-K bankrupt. Proofs of claim will be accepted at Kostanai, Baitursynova Str. 70 on or before March 6, 2006. CONTACT: SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF KOSTANAI REGION Kostanai, Baitursynova Str. 70 SAN & K: Last Day for Filing Proofs of Claims Set ------------------------------------------------- The Specialized Inter-Regional Economic Court of Aktobe region declared LLC San & K bankrupt. Proofs of claim will be accepted at Aktobe, Altynsarina Str. 31 on or before March 6, 2006 CONTACT: SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF AKTOBE REGION Aktobe, Altynsarina Str. 31 TAIM-2005: Court Sets March 6 Claims Bar Date --------------------------------------------- The Specialized Inter-Regional Economic Court of Kostanai region declared LLC TAIM-2005 bankrupt. Proofs of claim will be accepted at Kostanai, Baitursynova Str. 70 on or before March 6, 2006. CONTACT: SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF KOSTANAI REGION Kostanai, Baitursynova Str. 70 TEMP-II: Creditors' Claim Due Next Month ---------------------------------------- The Specialized Inter-Regional Economic Court of South Kazakhstan region declared LLC Temp-II bankrupt. Proofs of claim will be accepted on or before March 6, 2006 The company can be contacted at 8 (3252) 56-05-22. ===================== N E T H E R L A N D S ===================== ROYAL SHELL: Cancels 375,000 A Shares in Buyback ------------------------------------------------ Royal Dutch Shell plc purchased 375,000 'A' Shares for cancellation at a price of 26.38 euros per share on Feb. 20, 2006. In addition, it purchased 100,000 'A' Shares for cancellation at a price of 1,807.10 pence per share. Following the cancellation of these shares, the remaining number of 'A' Shares of Royal Dutch Shell plc will be 3,918,325,000. 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 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$500 million. The Company expected to continue its buyback program in 2006 and planned to provide an update on the 2006 buyback program with the full year results announcement on Feb. 2, 2006. Shell's buyback scheme was aimed at reviving shareholders' and investors' confidence. The buyback program followed last year's damaging reserves overestimation scandal. About the Company Headquartered in The Hague and incorporated in England and Wales, Royal Dutch Shell PLC -- http://www.shell.com/-- has 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 company is listed on the London, Amsterdam, and New York stock exchanges. 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. =========== R U S S I A =========== ASTRAKHANSKIY DISTILLERY: Claims Filing Period Ends Next Week ------------------------------------------------------------- The Arbitration Court of Astrakhan region has commenced bankruptcy supervision on open joint stock company Astrakhanskiy Distillery. The case is docketed as A06-6460-B/3-11/05. Mr. O. Nekrasov has been appointed temporary insolvency manager. Creditors have until Feb. 28, 2006, to submit their proofs of claim to 115191, Russia, Moscow region, Bolshaya Tulskaya Str. 2. A hearing will take place on May 18, 2006. CONTACT: ASTRAKHANSKIY DISTILLERY Russia, Astrakhan region, Energeticheskaya Str. 5 O. NEKRASOV Temporary Insolvency Manager 115191, Russia, Moscow region, Bolshaya Tulskaya Str. 2 BALAKOVSKAYA: Company Falls Into Bankruptcy ------------------------------------------- The Arbitration Court of Saratov region commenced bankruptcy proceedings against Balakovskaya after finding the open joint stock company insolvent. The case is docketed as A-57-478B/02- 15-32. Mr. A. Gurchenko has been appointed insolvency manager. Creditors may submit their proofs of claim to 410012, Russia, Saratov region, Bolshaya Kazachya Str. 23/27. CONTACT: BALAKOVSKAYA Russia, Saratov region, Balakovskiy region A. GURCHENKO Insolvency Manager 410012, Russia, Saratov region, Bolshaya Kazachya Str. 23/27 CHASTOOZERSKOYE: Kurgan Court Opens Bankruptcy Proceedings ---------------------------------------------------------- The Arbitration Court of Kurgan region commenced bankruptcy proceedings against Chastoozerskoye after finding the open joint stock company insolvent. The case is docketed as A34-5087/05. Mr. A. Slobodchikov has been appointed insolvency manager. Creditors have until March 21, 2006, to submit their proofs of claim to Russia, Kurgan region, Pichugina Str. 15, Office 301. CONTACT: CHASTOOZERSKOYE 641570, Russia, Kurgan region, Chastoozerye, Beregovaya Str. 1 A. SLOBODCHIKOV Insolvency Manager Russia, Kurgan region, Pichugina Str. 15, Office 301 CREDIT-INVEST-SERVICE: Insolvency Manager Takes Over Helm --------------------------------------------------------- The Arbitration Court of Sverdlovsk region commenced bankruptcy proceedings against Credit-Invest-Service after finding the limited liability company insolvent. The case is docketed as A60-39494/2005-S11. Mr. A. Bannykh has been appointed insolvency manager. CONTACT: CREDIT-INVEST-SERVICE 622016, Russia, Sverdlovsk region, Nizhniy Tagil, Lebyazhinskaya Str. 3 A. BANNYKH Insolvency Manager 620017, Russia, Ekaterinburg, St. Bolshevikov Str. 2a, Building 2, Office 209 KIROVSKOYE: Bankruptcy Supervision Procedure Begins --------------------------------------------------- The Arbitration Court of Khakasiya republic has commenced bankruptcy supervision on close joint stock company Kirovskoye. The case is docketed as A74-5481/2005. Mr. E. Sablin has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 660017, Russia, Krasnoyarsk, Post User Box 20647. A hearing will take place on March 15, 2006, 1:00 p.m. CONTACT: KIROVSKOYE 655672, Russia, Khakasiya republic, Altay region, Kirovo, Kirova Str. 54 E. SABLIN Temporary Insolvency Manager 655160, Russia, Khakasiya republic, Chernogorsk, Sovetskoy Armii Str. 32 MEKON: Bankruptcy Hearing Set April 13 -------------------------------------- The Arbitration Court of Irkutsk region has commenced bankruptcy supervision on close joint stock company Mekon. The case is docketed as A19-42055/05-8. Ms. V. Oblomkova has been appointed temporary insolvency manager. Creditors have until Feb. 28, 2006, to submit their proofs of claim to 665719, Russia, Irkutsk region, Bryansk, Post User Box 1033. A hearing will take place on April 13, 2006, 10:30 a.m. CONTACT: MEKON 665703, Russia, Irkutsk region, Bryatsk, Gidrostroitel V. OBLOMKOVA Temporary Insolvency Manager 665719, Russia, Irkutsk region, Bryansk, Post User Box 1033 MOROZKO: Chelyabinsk Court Rules on Bankruptcy ---------------------------------------------- The Arbitration Court of Chelyabinsk region commenced bankruptcy proceedings against Morozko (TIN 7429000071, OGRN 1027401562870) after finding the limited liability company insolvent. The case is docketed as A76-3322/05-52-5. Mr. R. Akhmetov has been appointed insolvency manager. Creditors have until March 21, 2006, to submit their proofs of claim to 607510455051, Russia, Chelyabinsk region, Magnitogorsk, Post User Box 126. CONTACT: MOROZKO 457670, Russia, Chelyabinsk region, Verkhneuralsk, Engelsa Str. 2a R. AKHMETOV Insolvency Manager 455051, Russia, Chelyabinsk region, Magnitogorsk, Post User Box 126 NORD-WOOD: Declared Insolvent by Arkhangelsk Court -------------------------------------------------- The Arbitration Court of Arkhangelsk region commenced bankruptcy proceedings against Nord-Wood after finding the close joint stock company insolvent. The case is docketed as A05-10838/05- 21. Mr. A. Maksimenko has been appointed insolvency manager. Creditors have until March 21, 2006, to submit their proofs of claim to 165300, Russia, Arkhangelsk region, Kotlas, Main Post Office, Post User Box 42. CONTACT: NORD-WOOD 165651, Russia, Arkhangelsk region, Koryazhma, Lenina Per. 75 A. MAKSIMENKO Insolvency Manager 165300, Russia, Arkhangelsk region, Kotlas, Main Post Office, Post User Box 42 URAL-MASH-STROY: Court Names A. Bannykh as Insolvency Manager ------------------------------------------------------------- The Arbitration Court of Sverdlovsk region commenced bankruptcy proceedings against Ural-Mash-Stroy after finding the close joint stock company insolvent. The case is docketed as A60- 36137/2005-S11. Mr. A. Bannykh has been appointed insolvency manager. CONTACT: URAL-MASH-STROY 620039, Russia, Ekaterinburg, Festivalnaya Str. 25a A. BANNYKH Insolvency Manager 620017, Russia, Ekaterinburg, St. Bolshevikov Str. 2a, Building 2, Office 209 VOLGOGRADSKIY: Selling RUB14 Million Assets Via Public Auction -------------------------------------------------------------- The bidding organizer of Volgogradskiy Steel-Wire-Rope Factory will sell its property on March 1, 2006, 9 a.m., at a public auction at Russia, Volgograd, Khirosimy Str. 1-194. The assets for sale include: Lot 1: A dormitory for a starting price of RUB3,451,500 inclusive of VAT Lot 2: A building complex for a starting price RUB13,837,860 inclusive of VAT. The list of documentary requirements is available free of charge at 400050, Russia, Volgograd region, Khirosimy Str. 1-194 on or before Feb. 28, 2006. To participate, bidders must deposit an amount equivalent to 20% of the starting price to the settlement account 40702810101200020132 at branch OJSC MDM-BANK in Volzhskiy, Volgograd, BIC 041856862, correspondent account 30101810100000000862, TIN/KPP 3448006434/344801001 on or Feb. 28, 2006. CONTACT: VOLGOGRADSKIY STEEL-WIRE-ROPE FACTORY: 400050, Russia, Volgograd region, Khirosimy Str. 1-194 Insolvency Manager/Bidding Organizer 400050, Russia, Volgograd region, Khirosimy Str. 1-194 Tel: (8442) -32-89-19 ===================== S W I T Z E R L A N D ===================== GATE GOURMET: S&P Ups Rating to B- from D with Stable Outlook ------------------------------------------------------------- Standard & Poor's Ratings Services raised its long-term corporate credit ratings on Switzerland-based airline catering group Gate Gourmet Luxembourg II S.C.A. (Gate Gourmet), and on 100%-owned subsidiary Gate Gourmet LLC, to 'B-' from 'D'. The outlook on both entities is stable. "The ratings reflect the group's vulnerable business risk profile and leveraged financial risk profile," said Standard & Poor's credit analyst Helene Magny. At the same time, Standard & Poor's assigned its 'B' long-term rating--one notch above the corporate credit rating--and '1' recovery rating to Gate Gourmet LLC's new Swiss franc (SFr) 475 million senior secured first lien facilities. The '1' recovery rating indicates our expectation of full recovery of principal for senior secured lenders in the event of a payment default. Furthermore, Standard & Poor's assigned its 'CCC+' rating -- one notch below the corporate credit rating -- to Gate Gourmet LLC's new SFr125 million equivalent senior secured second lien loan, with a recovery rating of '3', indicating our expectation of meaningful (50%-80%) recovery of principal for second lien lenders in the event of a payment default. The ratings are subject to final documentation. At the same time, Standard & Poor's raised its recovery rating on Gate Gourmet LLC's existing SFr498 million facilities to '1' from '2', and removed it from CreditWatch with negative implications, where it had been placed on Aug. 23, 2005. The 'D' rating on the facilities is likely to be withdrawn, along with the recovery rating, as full repayment of the loan is expected in the short term. Gate Gourmet's business risk profile is exposed to the cyclicality of the airline industry and customers' weak financial health. Deflationary trends in the sector are leading to pricing pressure, forcing the group to adopt cost cutting initiatives to maintain profitability. Management's ability to weather the current tough trading conditions is still unproven, although significant measures have already been undertaken to reduce costs. Standard & Poor's expects a marked improvement in free cash flows from 2007. We also expect Gate Gourmet's operating margins to show resilience, due to the highly contracted nature of the company's revenues and to the success of cost cutting initiatives. "If market downturns are greater than anticipated and/or Gate Gourmet fails to adequately adapt its cost structure to the negative pricing trends prevailing in the airline catering industry, the ratings will be jeopardized," said Ms. Magny. "Conversely, we may contemplate an upgrade if Gate Gourmet manages to demonstrate a steady track record of positive free cash flows." ============= U K R A I N E ============= BAHCHISARAJ' REINFORCED: Goes Into Liquidation ---------------------------------------------- The Economic Court of AR Krym region commenced bankruptcy proceedings LLC Bahchisaraj' Reinforced Metal Products (code EDRPOU 03379649) after finding the limited liability company insolvent. The case is docketed as 2-20/3677.1-2005. Mr. Garri Vudud has been appointed liquidator/insolvency manager. CONTACT: BAHCHISARAJ' REINFORCED METAL PRODUCTS 98400, Ukraine, AR Krym region, Bahchisaraj, Promislova Str. 2 THE ECONOMIC COURT OF AR KRYM REGION 95000, Ukraine, AR Krym region, Simferopol, Karl Marks Str. 18 BEREZANSKA AGROPROMTEHNIKA: Bankruptcy Supervision Begins --------------------------------------------------------- The Economic Court of Mikolaiv region commenced bankruptcy supervision procedure on OJSC Berezanska Agropromtehnika (code EDRPOU 03753409). The case is docketed as 2/260/05. Ms. Vira Fomenko has been appointed temporary insolvency manager. CONTACT: BEREZANSKA AGROPROMTEHNIKA 57400, Ukraine, Mikolaiv region, Berezanskij district, Krasne, Engels Str. 27 Ms. Vira Fomenko Temporary Insolvency Manager 54008, Ukraine, Mikolaiv region, Zhovtnevij Avenue 1/37 Phone: 24-91-58, 24-54-88 ECONOMIC COURT OF MIKOLAIV REGION 54009, Ukraine, Mikolaiv region, Admiralska Str. 22 FINANCIAL INITIATIVE: S. Ptushko Named Insolvency Manager --------------------------------------------------------- The Economic Court of Lugansk region commenced bankruptcy proceedings against Financial Initiative (code EDRPOU 30481950) on Dec. 26, 2005, after finding the limited liability company insolvent. The case is docketed as 22/18 b. Mr. S. Ptushko has been appointed liquidator/insolvency manager. CONTACT: FINANCIAL INITIATIVE 94021, Ukraine, Lugansk region, Stahanov, Vodoprovodna Str. 21 Mr. S. Ptushko Liquidator/Insolvency Manager Ukraine, Lugansk region, Leninskogo Komsomolu quarter, 4/109 ECONOMIC COURT OF LUGANSK REGION 91000, Ukraine, Lugansk region, Geroiv VVV Square 3a HLIBOROB: Under Bankruptcy Supervision in Hmelnitskij ----------------------------------------------------- The Economic Court of Hmelnitskij region commenced bankruptcy supervision procedure on Agricultural LLC Hliborob (code EDRPOU 037892206) on Nov. 10, 2005. The case is docketed as 17/307-B. Mr. Vitalij Opanasenko has been appointed temporary insolvency manager. CONTACT: HLIBOROB 30544, Ukraine, Hmelnitskij region, Polonne district, Onaskivtsi Mr. Vitalij Opanasenko, Temporary Insolvency Manager 30900, Ukraine, Hmelnitskij region, Parkova Str. 6/2-25 ECONOMIC COURT OF HMELNITSKIJ REGION 29000, Ukraine, Hmelnitskij region, Nezalezhnosti Square 1 SHIROKIVSKIJ AGROTEHSERVICE: Succumbs to Bankruptcy --------------------------------------------------- The Economic Court of Dnipropetrovsk region commenced bankruptcy supervision procedure on LLC Shirokivskij Agrotehservice (code EDRPOU 30824910). Mr. A. Sorokovikov has been appointed temporary insolvency manager. CONTACT: SHIROKIVSKIJ AGROTEHSERVICE 53730, Ukraine, Dnipropetrovsk region, Shirokivskij district, Karpivka, Centralna Str. 179 Mr. A. Sorokovikov Temporary Insolvency Manager 50069, Ukraine, Dnipropetrovsk region, Krivij Rig, Volgogradska Str. 9 Phone: (0564) 71-66-24 ECONOMIC COURT OF DNIPROPETROVSK REGION 49600, Ukraine, Dnipropetrovsk region, Kujbishev Str. 1a TALISMAN: Declared Insolvent by Odessa Court -------------------------------------------- The Economic Court of Odessa region commenced bankruptcy proceedings against Talisman (code EDRPOU 32334193) on Dec. 19, 2005, after finding the limited liability company insolvent. The case is docketed as 32/187-05-9927. Mr. Y. Kozlovskij has been appointed liquidator/insolvency manager. CONTACT: TALISMAN 68001, Ukraine, Odessa REGION, Illichivsk, 1 Travnya Str. 3 Mr. Y. Kozlovskij Liquidator/Insolvency Manager Phone: 8 (067) 487-53-20 ECONOMIC COURT OF ODESSA REGION 65032, Ukraine, Odessa region, Shevchenko Avenue 4 UKRNAFTOSERVISKOMPLEKT: Insolvency Manager Takes Over Helm ---------------------------------------------------------- The Economic Court of Kyiv region commenced bankruptcy proceedings against Ukrnaftoserviskomplekt (code EDRPOU 22860476) on after finding the limited liability company insolvent. The case is docketed as 43/702. Mr. V. Zaharchuk has been appointed liquidator/insolvency manager. CONTACT: UKRNAFTOSERVISKOMPLEKT 04053, Ukraine, Kyiv region, Nestorivskij Lane 3/5 Mr. V. Zaharchuk, Liquidator/Insolvency Manager 03146, Ukraine, Kyiv region, a/b 100 Phone/Fax: (044) 407-16-31 Phone: 8 (067) 966-34-50 or 8 (050) 358-25-22 ECONOMIC COURT OF KYIV REGION 01030, Ukraine, Kyiv region, B. Hmelnitskij Boulevard 44-B UKRSOTSBANK: Moody's Reviews Low-B Ratings for Upgrade ------------------------------------------------------ Moody's Investors Service placed on review for possible upgrade the Ba1 local currency long-term debt rating of Ukrsotsbank and the Ba3 long-term debt rating of the loan participation notes due 2008 issued by Ukrsots Finance B.V., the bank's issuing vehicle. The bank's financial strength rating has been upgraded to D- (positive outlook) from E+ (positive outlook). Moody's said that the bank's B2 long-term foreign currency deposit rating was affirmed, with stable outlook, as it remains constrained by Ukraine's B2 country ceiling for such deposits. Moody's noted that the review for possible upgrade has been prompted by the recent announcement that Banca Intesa, the second largest bank in Italy by total assets (rated A1/P-1/B-), has signed a share purchase agreement to acquire 85.42% of Ukrsotsbank. The transaction will be completed in two closings due to the pending capital increase completion. The first closing is expected to be completed in May following the receipt of all regulatory approvals, while the second closing is expected to be completed not later than September once the capital increase formalities are completed. Moody's understands that Ukrsotsbank will continue to focus on developing as a universal bank providing a full range of services to both individuals and corporates. The bank will continue to place an increased emphasis on consumer lending and development of the distribution network, but will also begin to offer more sophisticated products to its corporate clients and SMEs. Moody's said that its rating review will focus on the implicit commitment and support from Banca Intesa as well as on the legal completion of the transaction and the obtaining of all the necessary approvals from Ukrainian and Italian authorities. According to Moody's, the upgrade of the bank's FSR to D- was prompted by the meaningful improvement in the bank's financial fundamentals in 2005 -- in the form of increased recurring earning power, enhanced efficiency and improved asset quality -- as well as by the expected strengthening of Ukrsotsbank's capital base as the bank has announced the issuance of US$60 million of new shares in 2006. The positive outlook on the FSR reflects the expected benefits of the bank's integration with Banca Intesa, especially in the areas of credit and market risk management, and also the expected increase in revenue generation from the new products developed by Ukrsotsbank in co-operation with Banca Intesa. Rating upgraded: -- FSR from E+ (positive outlook) to D- (positive outlook) Ratings on review: -- Ba1 local currency long-term debt rating for UAH denominated bonds due 2009; and -- Ba3 foreign currency long-term debt ratings of loan participation notes issued by Ukrots Finance B.V. due 2008 Ratings affirmed: -- B2 long-term foreign currency deposit rating (stable outlook); and -- Non-Prime short-term debt rating. Ukrsotsbank is headquartered in Kyiv, Ukraine, and as of Dec. 31, 2005 reported total assets of UAH10.8 billion (US$2.14 billion) under UAS. =========================== U N I T E D K I N G D O M =========================== 4 SITE: Brings In Vantis Numerica as Joint Administrators --------------------------------------------------------- Nicholas Hugh O'Reilly and Colin Ian Vickers of Vantis Numerica were appointed joint administrators of 4 Site Recruitment Limited (Company No 04887040) on Feb. 3. CONTACT: 4 SITE RECRUITMENT LTD 233 Holdenhurst Road Bournemouth Dorset BH8 8DD Tel: 01202 302444 Headquartered in West Sussex, Vantis Numerica (nka Vantis plc) -- http://www.vantisplc.com/-- provides accounting, business and tax advisory services in the United Kingdom. BROOKLANDS NO.1: Appoints Bridgestones Administrator ---------------------------------------------------- Jonathan Lord and Robert Cooksey of Bridgestones were appointed joint administrators of Brooklands No.1 Limited (Company No 02944513) on Feb. 3. CONTACT: BRIDGESTONES 125-127 Union Street Oldham Lancashire OL1 1TE Tel: 0161 785 3700 Fax: 0161 785 3701 E-mail: rlc@bridgestones.co.uk CANE OF KENDAL: Taps Timothy Hargreaves to Liquidate Assets ----------------------------------------------------------- Cane of Kendal Limited is liquidating its assets after members found out that the company cannot continue its operations due to its liabilities. Timothy Hargreaves, of T.H. Associates Insolvency Practitioners, was appointed Liquidator. CONTACT: CANE OF KENDAL LIMITED St. Georges Quay Lancaster LA1 5QJ Tel: 01524 468 322 CORRUPAD PACKAGING: Hires Begbies Traynor to Administer Assets -------------------------------------------------------------- John Wynn Davies and David Hill of Begbies Traynor were appointed joint administrators of Corrupad Packaging Limited (Company No 04336264) on Jan. 31. Its registered office is at Merthyr Industrial Estate, Dowlais, Merthyr Tydfil CF48 2SR. Headquartered in Manchester, Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Headquartered in Birmingham, Corrupad Packaging Ltd. -- http://www.corrupad.com/-- produces & supplies totally environmentally responsible transit cushioning materials. Its products are constructed from multiple layers of corrugated paper, which is 100% recycled, recyclable & biodegradable, which also serves as a cost effective alternative to EPS, PE, PP & other expanded foam cushioning products CRUSADER DISPLAYS: Manufacturer Calls In Administrator ------------------------------------------------------ David Acland and Steven Williams of Begbies Traynor were appointed joint administrators of Crusader Displays Limited (Company No 01101823) on Feb. 8. Headquartered in Manchester, Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Headquartered in Manchester, Crusader Displays Limited -- http://www.crusader-ltd.co.uk/-- was established in 1964. It manufactures shop displays. D KILLEN: Building Contractors Hire Joint Administrators -------------------------------------------------------- Ian Michael Rose and Robert Michael Young of Begbies Traynor were appointed joint administrators of building contractors D Killen Limited (Company No 04304059) on Feb. 6. Its registered office is at Maycot Oaks, Woodland Way, Kingswood, Surrey KT20 6NX. CONTACT: THE P&A PARTNERSHIP The Old Barn, Caverswall Park, Caverswall Lane Stoke on Trent ST3 6HP Tel: (0114) 275 5033 Fax: (0114) 276 8556 E-mail: info@poppletonappleby.co.uk Web site: http://www.thepandapartnership.com/ ERINQUAY LIMITED: Liquidates Assets in Hampshire ------------------------------------------------ Members of Erinquay Limited passed a resolution to wind up the company during an extraordinary general meeting on Feb.3, 2006, in London. Director M. J. Osman expressed that the company could no longer continue its operations due to financial liabilities. Jeffrey Mark Benner, of B & C Associates, was voted Liquidator. CONTACT: ERINQUAY LIMITED 229 West Street Fareham Hampshire PO160HZ Tel: 01489 899 182 Fax: 01489 899 182 EUROTUNNEL S.A.: Creditors Grant Second Waiver Through March ------------------------------------------------------------ Eurotunnel S.A. received a new waiver to its credit agreements from: -- 100% from the senior creditors; and -- 91.32% from the co-financiers. The new waiver period will last until the end of March 2006. It will allow Eurotunnel to present the financial restructuring framework, agreed by the Group and the Ad Hoc Committee on Jan. 31, 2006, to the other creditors, provided that they sign a confidentiality agreement to preclude them from any trading in the debt or equity of Eurotunnel. Going Concern The creditors must weigh the interest of taking this plan into consideration, given the often underlined significance of the Group's contractual commitments in early 2007, when the first major repayments of the debt principal become due. This prospect, in the 12 months to come, has led the Group's auditors to initiate, as they are obliged by law, the first stage of the process of issuing a warning regarding Eurotunnel's viability as a going concern. Eurotunnel stated that, in the absence of a consensual debt restructuring, the Group would, in accordance with the legislation in force, invoke the provisions of the Credit Agreements and the Concession. Eurotunnel considers that having recourse to these would not be more favorable for the subordinated debt holders than the proposed restructuring. About the Company Headquartered in Folkestone, United Kingdom and Calais, France, Eurotunnel S.A. -- http://www.eurotunnel.co.uk/-- operates a fleet of 25 shuttle trains which carry cars, coaches and trucks. It manages the infrastructure of the Channel Tunnel and receives toll revenues from train operating companies whose trains pass through the Tunnel. The British and French governments have granted Eurotunnel a concession to operate the Channel Tunnel until 2086. * * * As reported in the Troubled Company Reporter-Europe on Feb. 6, 2006, Fitch Ratings said that ratings of the unwrapped notes of Eurotunnel-related debt repackaging vehicles, Fixed-Link Finance B.V. (FLF1) and Fixed-Link Finance 2 B.V. (FLF 2) remain on Rating Watch Negative, after the company agreed on a Memorandum of Understanding (MoU) with the Ad-Hoc committee. The ratings involved are: FLF 1: (a) GBP200 million Class A1 notes due 2025: 'BB+'; (b) EUR103 million Class A2 notes due 2025: 'BB+'; (c) GBP0.05 million Class B1 notes due 2025: 'B+'; (d) EUR135 million Class B2 notes due 2025: 'B+'; and (e) EUR142 million Class C2 notes due 2025: 'B-'. FLF1's GBP232 million Class G1 notes due 2025 and EUR365 million Class G2 notes due 2025 (both wrapped by MBIA) are rated 'AAA'. FLF 2: GBP120 million Class A notes due 2026 are rated 'BBB-' and remain on Rating Watch Negative, and the GBP620 million guaranteed notes due 2027/28 (wrapped by MBIA) are rated 'AAA'. Eurotunnel's Tier 1A debt forms the collateral for the FLF2 notes. As reported in TCR-Europe on Feb. 3, Standard & Poor's Ratings Services said that its 'BBB' senior secured bank loan rating on U.K. and France-based Eurotunnel S.A. remained on CreditWatch with negative implications, following the expiry on Jan. 31, 2006, of a waiver that allowed Eurotunnel to negotiate a debt restructuring. The following ratings on the nonguaranteed debt issued by related Fixed-Link Finance B.V.'s Class A, B, and C notes also remain on CreditWatch with negative implications: (a) Senior secured debt: 'BB-', (b) Subordinated debt: 'CCC+', and (c) Junior subordinated: 'CCC-'. The 'B' senior secured rating on Fixed-Link Finance 2 B.V.'s nonguaranteed notes also remains on CreditWatch with negative implications. EXPRESSWORKS LIMITED: Joint Administrators Enter Firm ----------------------------------------------------- John Wynn Davies and David Hill of Begbies Traynor were appointed joint administrators of Expressworks Limited (Company Number 4381011) on Feb. 1. Its registered office is at 10-14 Museum Place, Cardiff CF10 3NZ. Headquartered in Manchester, Begbies Traynor -- http://www.begbies.com/-- assists companies, creditors, financial institutions and individuals on all aspects of financial restructuring and corporate recovery. Headquartered in Blackwood, Expressworks Limited -- http://www.expressworks.co.uk/-- manufactures injection-molded products. Their blue chip clients include the Ministry of Defense, Woolworths, Wilkinsons, Poundstretcher, also Raytheon Electronic Systems. F HACKNEY: Haulage Contractor Hires Liquidator ---------------------------------------------- Leslie Ross, of Grant Thornton UK LLP, was appointed liquidator of F. Hackney (Sandbach) Limited after members decided to liquidate the company's asset on Feb. 2, 2006. Chairman S. M. Rigby disclosed the company is unable to continue its business due to its mounting debts. CONTACT: F HACKNEY (SANDBACH) LIMITED Tower Garage 13 Congleton Road Sandbach Cheshire CW111HG Tel: 01270 762 651 FKI PLC: Moody's Revises Outlook on Ba1 Ratings to Negative ----------------------------------------------------------- Moody's Investors Service has changed the outlook on the FKI plc's Ba1 ratings to negative from stable. The rating action was prompted by FKI's continued weak retained cash flow relative to the absolute level of adjusted net indebtedness. Moody's last downward rating action dated March 11, 2005, incorporating a stable outlook, anticipated that FKI's performance against this metric would result in an improvement over 10%. As at Sept. 30, 2005 this ratio was at low single digit levels; full year ending March 2006 is expected to show modest improvement but remain below the targeted ratio 10% level. FKI's cash flow continues to be impacted by a weak US Dollar and rising interest rates, exceptional high steel prices, adverse timing of working capital movements and high dividend payments. Moody's acknowledges the operating improvements resulting from internal restructuring and reorganization, which has underpinned some encouraging performance trends during the first six months of their financial year 2005/06, notably the good progress relating to order intake. Turnover from continuing operations increased by 9.5%, net profit post exceptional items reached GBP26.3 million, a level that hasn't been seen during the last three years. These improvements, however, have not been fully mirrored in higher cash flows. Gross cash flow (operating cash flow as adjusted by Moody's before working capital) reached GBP47.4 million on a rolling 12- month basis compared to GBP61.5 million as of Sept. 30, 2004. Although some of this decline was attributable to the weakening of the US$/GBP exchange rate, gross cash flow has consistently declined on a rolling 12-months basis from a level of GBP193 million at fiscal year-end 2001. Consequently, adjusted retained cash flow to net adjusted debt coverage ratios have also declined over the same period and remained at low single- digit levels at Sept. 30, 2005. Moody's notes that the group -- having nearly completed all of its restructuring program -- will remain challenged to substantially improve the performance of the five major remaining business lines of operation, and to subsequently reduce net debt to levels more appropriate for the current rating category. The sizeable long dated instrument in the capital structure also hampers an absolute reduction in gross indebtedness through free cash flows and asset disposals. FKI's traditional businesses have solid market positions and have shown resilience to economic downturn, providing the group with a backbone of stable turnover and profits through the cycle. Risk remains with FKI Logistex, which accounts for a sizeable amount of goodwill on the balance sheet. Moody's notes that still further cost savings, particularly in the Logistex business, may be required to improve margins and/or reduce its vulnerability to any potential prolonged order weakness. Such additional measures may result in additional cash restructuring charges and asset write-offs. FKI's credit profile is underpinned by a good liquidity position, given its long dated maturity profile, cash balances, the expectation for future free cash flow generation and liquidity support from its syndicated credit facility, although covenant headroom for the facility remains limited and final maturity is July 2007 Over the period of the next 12 months, Moody's will still need to see operating and cash flow progress if adjusted retained cash flow to net adjusted debt is to shift above 10%. Should there be indications that this recovery level will not be achieved, Moody's is likely to lower the ratings. Headquartered in Loughborough, England, FKI is an international engineering group active in the four specialized business areas: FKI Logistex, Lifting Products & Services, Hardware and Energy Technology. The group recorded revenues from continuing operations of GBP1,221 million on a last twelve months basis at Sept. 30, 2005. FORTRESS SECURITY: Calls In Joint Liquidators --------------------------------------------- Creditors of Fortress Security Services Limited confirmed the company's voluntary liquidation after members passed a resolution to wind up the company's operations on Feb. 7, 2006. Creditors also ratified the appointment of John Sallabank and Paul Boyle, both of Harrisons, as Joint Liquidators. CONTACT: FORTRESS SECURITY SYSTEMS LIMITED First Floor 37-39 Turners Hill Cheshunt Waltham Cross Hertfordshire EN8 8NP Tel: 0800 542 4838 Fax: 01992 641 328 GREENWICH ENERGY: Electricity Supplier Hires Administrator ---------------------------------------------------------- Lisa Jane Hogg and David James Elliot of Wilson Field were appointed joint administrators of Greenwich Energy Trading Limited (Company Number 03953127) on Feb. 7. Greenwich Energy Trading Limited -- http://www.greenwichenergy.co.uk/-- supplies electricity. CONTACT: GREENWICH ENERGY TRADING LTD 16 Winchester Walk, London, SE1 9AQ Tel: 0870-242 7133 Fax: 02075370653 WILSON FIELD The Annexe The Manor House 260 Ecclesall Road South Sheffield South Yorkshire S11 9UZ Tel: 0114 235 6780 Fax: 0114 262 0661 J.L. FRENCH: U.K. Subsidiary Goes Into Administration ----------------------------------------------------- The British unit of J.L. French Automotive Castings went into administration after the U.S. parent company filed a prepackaged chapter 11 petition in the U.S. Bankruptcy Court for the District of Delaware on Feb. 10, 2006. The joint administrators working with the company will determine the future of the Witham, England and Presteigne, Wales locations, which together are structured as one legal entity. Management in each location is working closely with local agencies to ensure a smooth transition, which is expected to take several months to meet the needs of existing customers. Those operations collectively employ approximately 700 people. The company also plans to close its underperforming operations in Benton Harbor, Michigan and Saltillo, Mexico. The parent company plans to continue business as usual at its facilities in: -- Sheboygan, Wisconsin; -- Glasgow, Kentucky; and -- Etxebarria, Vizcaya, Spain. The Spanish operations, which employ 340 personnel, serve customers in Europe and are not included in the U.S. bankruptcy filing. The U.S. bankruptcy petition was filed to effectuate a balance sheet restructuring pursuant to a chapter 11 plan of reorganization. Majority of the company's second lien debtholders agreed on a restructuring that will bring up to $130 million in new equity investment into the company. The agreement, which includes the repayment in full of approximately $295 million in first lien debt and the conversion of $170 million in second lien debt into equity and warrants, will allow J.L. French to reduce debt levels by approximately $300 million, as well as remove $200 million in preferred securities from its balance sheet. In so doing, J.L. French will be positioned to increase investment in its core business and to expand its already strong competitive position. As of Dec. 31, 2005, J.L. French had approximately $465 million in first and second lien senior secured debt and $28.9 million in 11.5% senior subordinated unsecured notes due 2009. The company incurred the majority of this debt as a result of an expansion and acquisition program in the late 1990s. The company's 2005 revenues were approximately $500 million, most of which the company generated in its continuing operations in Wisconsin and Kentucky in the U.S. and in Spain. J.L. French is being advised by its investment banker, Miller Buckfire & Co., LLC, its financial advisor, Conway MacKenzie & Dunleavy, and its bankruptcy counsel, Kirkland & Ellis. The second lien lenders are being advised by Houlihan Lokey Howard & Zukin and Latham & Watkins. Founded in 1968, J.L. French Automotive Castings, Inc., based in Sheboygan, Wisconsin, designs and manufactures highly-engineered aluminum die cast automotive parts including oil pans, engine front covers, engine blocks and transmission cases. The company employs more than 1800 people in its ongoing operations worldwide. KINDER 2000: Nursery School Surrenders to Bankruptcy ---------------------------------------------------- Kinder 2000 Private Day Nursery Limited is liquidating its assets after members passed a resolution to wind up the company's operations on Jan. 30, 2006. Gagen Dulari Sharma was appointed Liquidator. CONTACT: KINDER 2000 PRIVATE DAY NURSERY LIMITED 318 Hamstead Road Handsworth Birmingham B20 2RA Tel: 0121 236 5959 L.I.G. SUPPLIES: Joint Administrators from Baker Tilly Move In -------------------------------------------------------------- Adrian David Allen and Nigel Millar of Begbies Traynor were appointed joint administrators of L.I.G. Supplies Limited (Company Number 02529581) on Jan. 27. Its registered office is at Westry Avenue, March Trading Park, March, Cambridgeshire PE15 0BN. Headquartered in Birmingham, Baker Tilly -- http://www.bakertilly.co.uk/-- is a leading independent firm of chartered accountants and business advisers in the United Kingdom. The firm's annual fee income is over GBP168 million and is part of a global network which has 122 member firms in 85 countries as an independent member of Baker Tilly International. Headquartered in Cambridgeshire, L.I.G. Supplies Limited -- http://www.lig-supplies.co.uk/-- supplies some 30,000 different laboratory apparatus, chemical and instrument products either of its own manufacture or from its supplier base of over 800 quality manufacturers. LTR (LIFTS): Taps Joint Administrators from BDO Stoy Hayward ------------------------------------------------------------ Christopher Kim Rayment and Dermot Justin Power of BDO Stoy Hayward LLP were appointed joint administrators of LTR (Lifts) Limited (Company Number 1541034) on Feb. 6. BDO Stoy Hayward -- http://www.bdo.co.uk/-- is the UK member firm of BDO International, the world's fifth largest accountancy network with more than 600 offices in 100 countries. Its services include: audit and assurance, business restructuring, corporate finance, disputes and investigations, investment management, risk assurance services, tax services, and valuations. Headquartered in Stone, LTR -- http://www.ltr-lifts.co.uk/-- specializes in providing a complete design, supply, installation, and on-going service capability for lifts, escalators and moving walkways in the UK. The company was established in 1981, is privately owned, and is an active member of the LEIA (The Lift & Escalator Industry Association). MACWORTH TOOLS: Administrator from Till Morris Takes Over Helm -------------------------------------------------------------- Duncan Roderick Morris of The Till Morris Partnership was appointed administrator of Macworth Tools Limited (Company Number 01587731) on Feb. 2. Macworth Tools Ltd -- http://www.macworthtools.com/-- was formed in the early 1980s. It has built an enviable reputation for supplying customers with top quality press tools, progressive dies and multi-axis transfer tooling that are not just, right-first-time, but right-on-time as well. CONTACT: MACWORTH TOOLS LTD Unit 5, Wattville Road Smethwick B66 2NU West Midlands Tel: 0121 565 1783 Fax: 0121 5555579 THE TILL MORRIS PARTNERSHIP 2 Church Street, Warwick CV34 4AB Tel: 01926 497 722 Fax: 01926 497 733 E-mail: duncan.morris@tillmorris.co.uk MICROS4U LIMITED: Registration of Claims Ends March 14 ------------------------------------------------------ Creditors of Micros4u Limited are given until March 14, 2006, to send in their full names, addresses and descriptions, full particulars of debts or claims, and the names and addresses of Solicitors (if any) to appointed Liquidator, Tania Clark. CONTACT: MICROS4U LIMITED 33 Bridge Street Walton-On-Thames Surrey KT121AF Tel: 01932 259 990 MPM FABRICATIONS: Starts Winding Up Process ------------------------------------------- Members of MPM Fabrications Limited resolved to liquidate the company's assets during an Extraordinary General Meeting on Feb. 3, 2006. They authorized David Birne and Stephen Katz, of Fisher Partners, to jointly administer the winding up process. CONTACT: MPM FABRICATIONS LIMITED Unit 6-9 Edison Road Elm Farm Ind Est Bedford Bedfordshire MK410HU Tel: 01234 328 678 Fax: 01234 342 449 PAN-DYNAMICS: Food Manufacturer Starts Winding Up Process --------------------------------------------------------- Members of Pan-Dynamics Limited voted to liquidate the company's assets during an Extraordinary General Meeting on Feb. 7. Appointed Joint Liquidator, Lynn Gibson of Gibson Hewitt, required creditors to send in their full names, addresses and descriptions, full particulars of debts or claims, and the names and addresses of Solicitors (if any) on or before May 7, 2006. CONTACT: PAN-DYNAMICS LIMITED Unit 6 Betam Road Aberglen Industrial Estate Hayes Middlesex UB3 1SS Tel: 020 8573 1770 Fax: 020 8573 1772 PROFESSIONAL INDEMNITY: Insurance Broker Calls In Administrator --------------------------------------------------------------- Asher Miller and David Rubin of David Rubin & Partners were appointed administrators of insurance broker Professional Indemnity Select Limited (Company Number 03254412) on Feb. 2. Its registered office is at Risborough House, 38-40 Sycamore Road, Amersham, Buckinghamshire HP7 9AU. David Rubin & Partners -- http://www.drpartners.com/-- specializes in corporate and personal insolvency, recovery, forensic accounting and litigation support. CONTACT: PROFESSIONAL INDEMNITY SELECT LTD Nicholas Ho/River Front, Enfield, Middlesex, EN1 3TF Tel: 020 8366 5595 PROJECT DESIGN: Names Rothman Pantall & Co. to Administer Assets ---------------------------------------------------------------- Robert Derek Smailes and Stephen B. Ryman of Rothman Pantall & Co were appointed administrators of Project Design & Build Limited (Company Number 04540568) on Jan. 31. The company offers small to medium build construction service. CONTACT: PROJECT DESIGN & BUILD LIMITED 28, Marlborough Rd, St. Albans, Hertfordshire, AL1 3XQ Tel: 01727 810239 ROTHMAN PANTALL & CO Clareville House, 26-27 Oxendon Street, London SW1Y 4EP Tel: +44 (0) 20 7930 7272 Fax: +44 (0) 20 7930 9849 E-mail: london@rothman-pantall.co.uk Web site: http://www.rothman-pantall.co.uk/ RAPID WINDOW: Begins Bankruptcy Proceedings ------------------------------------------- Darren Brookes, of Milner Boardman & Partners, was appointed Liquidator after members of Rapid Window Centre Limited decided to liquidate the company's assets on Feb. 3, 2006. Director R. Grocott disclosed that the company could no longer continue its business due to mounting debts. CONTACT: RAPID WINDOW CENTRE LIMITED One Stop Halton View Rd Widnes Cheshire WA8 6LG Tel: 0151 420 4240 REALM INTERIORS: Hires Administrators from Sanderlings LLP ---------------------------------------------------------- Andrew Fender of Sanderlings LLP was appointed administrator of Realm Interiors Limited (Company Number 03574555) on Jan. 31. Its registered office is at Royal House, Market Place, Redditch, Worcestershire B98 8AA. CONTACT: REALM INTERIORS LTD 75 Barr Street, Birmingham, West Midlands B19 3DS Tel: 01215519949 SANDERLINGS LLP Sanderling House, 1071 Warwick Road, Acocks Green, Birmingham B27 6QT REDLINE PERFORMANCE: Yields to Voluntary Liquidation ---------------------------------------------------- Members of Redline Performance Engineering Limited passed a resolution to wind up the company during an extraordinary general meeting on Feb. 1, 2006. The voluntary liquidation came as a result of the Debtor's inability to continue its operations due to its liabilities. Alan H Tomlinson, of Tomlinsons, was appointed Liquidator to wind up the company's business. CONTACT: REDLINE PERFORMANCE ENGINEERING LIMITED 6 Willow Way West Byfleet Surrey KT146PS Tel: 01932 355 508 TARGET UNDERWRITING: Hires David Rubin & Partners Administrator --------------------------------------------------------------- Asher Miller and David Rubin of David Rubin & Partners were appointed joint administrators of insurance broker Target Underwriting Limited (Company Number 03252336) on Feb. 2. Its registered office is at Risborough House, 38-40 Sycamore Road, Amersham, Buckinghamshire HP7 9AU. David Rubin & Partners -- http://www.drpartners.com/-- specializes in corporate and personal insolvency, recovery, forensic accounting and litigation support. CONTACT: TARGET UNDERWRITING LTD Nicholas House, River Front Enfield, Middlesex EN1 3TF Tel: 0208366 5595 E-mail: office@targetunderwirting.com T-COMPUTERS PLC: Joint Administrators from PKF Enter Firm --------------------------------------------------------- P. J. Long and S. P. Holgate of PKF were appointed joint administrators of T-Computers Plc (Company Number 02133500) on Feb. 3. The company was formerly named Tulip Computers UK PLC. CONTACT: PKF Farringdon Place, 20 Farringdon Road, London EC1M 3AP Tel: 020 7065 0000 Fax: 020 7065 0650 E-mail: info.london@uk.pkf.com Web site: http://www.pkf.co.uk/ TRADEHOUSE RETAIL: Taps Administrators from Elwell Watchorn ----------------------------------------------------------- John Michael Munn and Joseph Gordon Maurice Sadler of Elwell Watchorn & Saxton LLP were appointed administrators of Tradehouse Retail Limited (Company Number 4730068) on Feb. 2. The company sells furniture. Elwell Watchorn & Saxton -- http://www.ews-insolvency.co.uk/-- provides insolvency and recovery services. The firm's partners have considerable expertise in all formal areas of insolvency, both corporate and personal and have been offering turnaround advice without the need for formal insolvency. CONTACT: TRADEHOUSE RETAIL LTD 62 Dockside Outlet Centre Chatham Maritime Chatham, Kent ME4 3ED Tel: 01634 893336 WALTHAM CONTRACTORS: Calls In Middleton Partners Administrator -------------------------------------------------------------- Michael Francis Stevenson and Julie Anne Palmer of Middleton Partners were appointed administrators of Waltham Contractors Limited (Company Number 01661209) on Feb. 3. Its registered office is at Oak House, New Road, Swanmore, Southampton SO32 2PF. The company offers general construction and civil engineering services. Middleton Partners -- http://www.middletonpartners.co.uk/-- are licensed insolvency practitioners and business consultants, the partners and staff of which have many years experience in dealing with business rescue and insolvency. CONTACT: WALTHAM CONTRACTORS LTD Oak Farm, New Road, Southampton, Hampshire SO32 2PF Tel: 01489896294 WORLD CLASS: Courier Company Names Piper Thompson Administrator --------------------------------------------------------------- Tony James Thompson of Piper Thompson was appointed administrator of courier company World Class Logistics Limited (Company Number 4020714) on Feb. 7. Its registered office is at Unit L4, Renshaw Estate, Mill Lane, Staines, Middlesex TW18 4UH. CONTACT: WORLD CLASS LOGISTICS LTD Unit L3 & L4 Renshaw Estate Staines, Middlesex TW18 4UQ United Kingdom Tel: (01784) 454001 Fax: (01784) 454002 PIPER THOMPSON Mulberry House, 53 Church Street, Weybridge, Surrey KT13 8DJ Tel: 01932855515 ZENITH BUILDERS: Names Tait Walker to Administer Assets ------------------------------------------------------- Gordon S. Goldie and Allan David Kelly of Tait Walker were appointed administrators of Zenith Builders Limited (Company Number 02594098) on Feb. 2. CONTACT: ZENITH BUILDERS LTD Unit 14, Weller Drive, Hogwood Lane Industrial Estate, Finchampstead, Wokingham, Berkshire RG40 4QZ Tel: 0118 973 6153 TAIT WALKER Bulman House, Regent Centre, Gosforth, Newcastle upon Tyne NE3 3LS Tel: 0191 285 0321 Fax: 0191 284 9117 E-mail: advice@taitwalker.co.uk Web site: http://www.taitwalker.co.uk/ ZEST4 ELECTRICITY: Appoints David Rubin & Partners Administrator ---------------------------------------------------------------- Paul Appleton and Asher Miller of David Rubin & Partners were appointed administrators of Zest4 Electricity Limited (Company Number 03849595), Zest4 Group Limited (Company Number 04492141) and Zest4 Limited (Company Number 0453236) on Feb. 3. David Rubin & Partners -- http://www.drpartners.com/-- specializes in corporate and personal insolvency, recovery, forensic accounting and litigation support. Zest4 Limited -- http://www.zest4.co.uk/-- operates a call center while Zest4 Group Limited is its holding company. On the other hand, Zest4 Electricity Limited is in charge of supplying electricity. * DLA Piper Introduces 59 New Partners Worldwide ------------------------------------------------ DLA Piper Rudnick Gray Cary promoted 59 lawyers to partnership worldwide. Across the UK, Continental Europe and Asia, 24 lawyers were newly elected, whilst in the US there were 35 newly elected partners. Both the Manchester and London offices of DLA Piper have four new partners; of the remaining newly elected partners, two are based in Leeds, two in Liverpool, two in Sheffield, two in Hong Kong and a further two in Milan. The Amsterdam, Bangkok, Brussels, Edinburgh, Moscow and Singapore offices have each promoted one partner. The new partners operate across a range of specialist areas including Banking, Corporate, Commercial & Projects, Litigation, Human Resources, Real Estate, Regulatory, Technology, Media & Communications (TMC) and Tax. DLA Piper has also strengthened its associate level by promoting 66 lawyers to associateship with immediate effect. This boosts the number of associates in the UK, Europe and Asia to 568. The bulk of associates are based in London (26) whilst the Corporate practice sees the biggest number of promotions with 15 new associates; the TMC practice follows with nine new associates. Other specialist areas to have new associates include Banking, BS&R, Commercial & Projects, Corporate, Human Resources, Litigation and Regulatory. "We have had an incredible 18 months of unprecedented growth and DLA Piper's success is due entirely to its people," Nigel Knowles, DLA Piper Managing Partner, said. "I am therefore pleased to be able to announce the newly elected partners and associates who have demonstrated their capabilities and commitment to the organization. "We want to build on our considerable success and will be gearing up for the next phase in our development." Across the UK, Continental Europe and Asia the newly elected partners are: * Banking: Matthew Christmas (Manchester) * Commercial & Projects: Norair Babadjanian (Moscow) * Corporate: -- Dusadee Jittasaiyapan (Bangkok) -- Jon Kenworthy (Sheffield) -- Paul Rimmer (Manchester) -- Sean Scanlon (London) -- Rudy Lim (Singapore) * Corporate Tax: Daniel Chan (Hong Kong) * Human Resources: Yvette van Gemerden (Amsterdam) * Litigation: Steven Dewhurst (Hong Kong) * Litigation/Insurance: Cameron McNaught (Edinburgh) * Real Estate: -- Chris Bowes (Manchester) -- Daniel Jude (Liverpool) -- Jo Owen (London) -- Elisabetta Poltronieri (Milan) -- Sarah Sweeney (Liverpool) * Regulatory: -- Hartley Foster (London) -- Gary Gallen (Sheffield) -- Duncan Gillespie (London) * Tax: Nicola Zeni (Milan) * TMC: Kristof De Vulder (Brussels) -- Andrew Dyson (Leeds) -- Stewart James (Leeds) -- Steve Wright (Manchester) Across the UK, Continental Europe and Asia the newly elected associates are: * Banking: -- Jolyon Ellwood-Russell (London) -- Leo Fattorini (London) -- Christian Francis (London) -- Shri Maski (Birmingham) -- Maria Romera (Madrid) -- Floor van Dijk (Amsterdam) -- Michael Yau (Hong Kong) * BS&R: -- Szu-Hui Goh (Singapore) -- Stewart Perry (London) * Commercial: -- Alberti Messi (Milan) -- Francesca Sutti (Milan) * Commercial & Projects: -- Matthew Allen (London) -- Paul Angell (London) -- Emily Dean (Leeds) -- Natasha Luther-Jones (Leeds) -- Paul Mansouri (London) -- Francesco Sanna (Milan) * Corporate: -- Sarra Adams (London) -- Eugene Choi (Hong Kong) -- Paul Feenan (Leeds) -- David Gerber (London) -- Zura Kiliptari (Tbilisi) -- Alexei Kolesnikov (Moscow) -- Jeff Langlands (London) -- Luanne Lu (Shanghai) -- Amber Matthews (London) -- Vladislav Mazur (Moscow) -- Joyce Mok (Hong Kong) -- Juan Perez (London) -- Will Van Tongelen (Antwerp) -- Andrew Wardrop (Glasgow) -- Richard Wilkey (Birmingham) * Human Resources: -- Jonathan Cracknell (Leeds) -- Cathelijne Derks (Amsterdam) -- Charlotte Fruytier (Amsterdam) -- Ian O'Toole (Leeds) * Litigation: -- Kelly Fox (London) -- Nicola Higgins (Manchester) -- Kate Knox (London) -- Wei Yaw Lam (Singapore) -- Nick Marsh (London) -- James McBurney (Leeds) -- Paul Smith (Sheffield) -- Andrew Whalley (Sheffield) * Litigation - Aviation: Kathryn Ward (London) * Litigation - Insurance: -- Peter Demick (Edinburgh) -- Jon Dutton (Manchester) -- Simon Matthews (Sheffield) * Real Estate: -- Sarah Crewe (Leeds) -- Simon Graham (London) -- Jane Hammersley (Leeds) -- Mark Keeling (Sheffield) -- Silvia Lopez (Madrid) -- Clare Quinn (Manchester) -- Michelle Ryan (Birmingham) -- Sally Whitney (London) * Regulatory: Rachel Lyne (Birmingham) * TMC: Emma Armitage (London) -- Zoe Ham (London) -- Paul Jordan (London) -- Lee McGuirk (London) -- Simon Parry (London) -- Hinal Patel (London) -- Hazel Randall (London) -- Morven Shaw (London) -- Callum Sinclair (Glasgow) In the US, the newly elected partners are: * Corporate and Securities: -- Karl M Ahlm (Chicago) -- William H Bromfield (Seattle) -- Sulee J Clay (Washington DC) -- Bradley J Gersich (East Palo Alto) -- Keli B Isaacson (Baltimore) -- Peter G Lawrence (Chicago) -- Bradford R Lenox (Raleigh) -- Marty B Lorenzo (San Diego) -- David E Weiss (New York) * Labour and Employment: -- Brooks R Amiot (Baltimore) -- Rodney B Sorensen (East Palo Alto) * Government Affairs: -- Alisa Bergman (Washington DC) -- Stuart Ingis (Washington DC) -- Paolo Morante (Baltimore) * Litigation: -- Holly Drumheller Butler (Baltimore) -- William P Donovan Jr (Los Angeles) -- Palmina M Fava (New York) -- Eliot R Hudson (San Francisco) -- Caryn Mazin Schechtman (New York) -- Joshua S Sohn (New York) * Finance: -- Diana M Chafey (Chicago) -- William Choslovsky (Chicago) -- Amy L Shane (New York) -- Michael C Standlee (East Palo Alto) * Franchise and Distribution: Amy Cheng (Chicago) * Real Estate: -- Timothy B Evans (Los Angeles) -- Michael S Gershowitz (Chicago) -- Joshua M Glazov (Chicago) -- Christine C Lehr (Raleigh) -- Grace Y Poe (Chicago) -- Bruce Wickersham (Boston) * Intellectual Property: -- Linda Rabin Judge (San Francisco) -- Ray Mort III (Austin) -- Michael G Schwartz (East Palo Alto) * Employee Benefits and Executive Compensation: -- Kelli A Toronyi (Chicago) ********* 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. Jazel Laureno, 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 * * *