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.

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