TCREUR_Public/060309.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                           E U R O P E

             Thursday, March 9, 2006, Vol. 7, No. 49

                            Headlines

F R A N C E

ATLANCIM: Sheds More Jobs
DURPOIX ET FOND: Insolvency Threat Looms Following Order Cuts


G E R M A N Y

AERTOS TECHNIK: Frankfurt Court Begins Bankruptcy Proceedings
ATOS GMBH: Creditors' Meeting Slated for April 19
BECKER SPORTSURFACES: Court Appoints Provisional Administrator
BUEHNER DACH: Claims Registration Ends Tomorrow
CAPRI 2100: Insolvency Report Out by May 11

CONDOR BETEILIGUNGSGESELLSCHAFT: Bankruptcy Process Begins
DAIMLERCHYSLER AG: Internal Probe Reveals "Improper Payments"
DEILMANN-HANIEL: Insufficient Orders Might Cause Insolvency
FISCHER & SCHOBERT: Brings In Klause Wrede to Administer Assets
GEHESPITZ-BUEROHAUS: Submits to Bankruptcy Process in Frankfurt

GIB GESELLSCHAFT: Creditors Must Register Claims by March 17
H.-P. MOHR: Lueneburg Court Halts Proceedings Due to Bankruptcy
HANS OLDAG: Claims Filing Period Ends Tomorrow
HELD GMBH: Aurich Court Orders Bankruptcy Proceedings
HOFBAUER IMMOBILIEN: Court Appoints Provisional Administrator

HOHENLEITNER GMBH: Court to Verify Claims on May 15
JOKUSCH GLASEREI: Hamburg Court Rules on Bankruptcy


I R E L A N D

ELAN CORPORATION: Breakout Session Set Today
ELAN CORPORATION: U.S. & European Authorities Review TYSABRI(R)
IWP INTERNATIONAL: Wants Shareholders to OK Restructuring Plan


K A Z A K H S T A N

FIRMA KAISAR: Creditors' Claims Due Next Week
JANA-IRTYSH: Bankruptcy Proceedings Begin
KAMKOR: Succumbs to Bankruptcy Process in West Kazakhstan
KAPREMSTROI: Submits to Bankruptcy Process
MARS-2000: Creditors Have Until Mar. 17 to File Proofs of Claim

NIKA: Almaty Court Sends Group Into Bankruptcy


K Y R G Y Z S T A N

GUMUS: Assets Sale Set End of the Month
SELBI: Proofs of Claims Filing Deadline Due April 20
VENS TRAVEL: Creditors' Claims Due April


N E T H E R L A N D S

CHIQUITA BRANDS: Earns US$131.4 Million in Fiscal Year 2005
CHIQUITA BRANDS: Annual Stockholders' Meeting Set on May 25
GETRONICS N.V.: Clarifies Dividend Report
GETRONICS N.V.: S&P Cuts Rating to B on Weak Profits
ROYAL SHELL: Cancels 1.25 Million A Shares in Buyback Program


R U S S I A

BAYMAKSKIY: Claims Filing Period Ends April 4
CHEKHOVSKIY: Bankruptcy Supervision Procedure Begins
ENERGO-INVEST-FINANCE: Insolvency Manager Takes Helm
IMPORT-HOLDING: Declared Insolvent by Smolensk Court
PBB LPN: Fitch Puts B- to USD9 Million & EUR16 Million Notes

POLYMER-MONTAGE: Undergoes Bankruptcy Supervision Procedure
SEL-KHOZ-KHIMIYA: Bryansk Court Brings In Insolvency Manager
SIB-SALT: Bankruptcy Hearing Set April 26
TRIACETATE: Saratov Court Opens Bankruptcy Proceedings
ULYANOVSK-METALL-SNAB: Court Sets April 4 Claims Bar Date

YARTSEVSKIY COTTON: Firm Falls Into Bankruptcy


S L O V E N I A

ISKRAEMECO: Mounting Debts Trigger Bankruptcy Filing


U K R A I N E

AGAT: Ludmila Orletska Takes Over Operations
APEDMAK: Declared Insolvent by Harkiv Court
DELYATIN' WOOD: Bankruptcy Chops Group
MAYAK-1: Court Appoints O. Tishenko to Liquidate Assets  
NOVOFASTIVSKE: Vinnitsya Court Opens Bankruptcy Proceedings

PROGRES: Goes Into Liquidation in Vinnitsya Region
REGION-KRYM: Insolvency Manager Comes In
SOVETSKIJ BUTTER: Submits to Bankruptcy Procedure
ZAHIDIMPROMMONTAZH: Under Bankruptcy Supervision


U N I T E D   K I N G D O M

ARBORICULTURAL AGENCY: Closes Operations & Liquidates Assets
ARTCARE (UK): Administrators Take Over Helm
CANDY SHOT: Taps Elizabeth Arakapiotis to Liquidate Assets
CECCO'S RESTAURANT: Cresswall Associates Leads Administration
CENTURION BATHS: Administrator From DCM Insolvency Moves In

CMH CONSTRUCTION: Creditors Confirm Voluntary Liquidation
COLT TELECOM: Stockholders to Vote on Article Revision at EGM
GARTMORE HIGH: Expects ZPDs Payment in Voluntary Liquidation
GOLDEN DYNASTY: Meeting of Creditors Set March 15
HARVEST KITCHENS: Kitchen Manufacturer Yields to Bankruptcy

JW OFFSET: Financial Woes Prod Liquidation
KINGSVALE HOMES: Creditors' Meeting Set Next Week
LOGICAL MECHANICAL: Joint Liquidators Take Helm
POLESTAR FLOORING: Building Specialist Liquidates Assets
RANK GROUP: Buys Back 831,246 Shares for Cancellation

RESOURCE NINE: Northern Financial Appoints Receiver
SCRAPBOOKHOUSE LIMITED: Appoints Begbies Traynor Administrator
SHINING STAR: Members Agree to Voluntary Liquidation
SR REALISATIONS: Appoints Tenon Recovery Administrator
STOCKPROTECT LIMITED: Closes Operations & Liquidates Assets

STRELLEY ENTERPRISES: Members Pass Winding Up Resolution
URBAN DETAIL: Clothing Retailer Taps BDO Stoy as Administrator
UTANCO SERVICES: Joint Administrators Lead Liquidation Process

     **********

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


ATLANCIM: Sheds More Jobs
-------------------------
Atlancim has cut 85 workers from its plant in Clisson in the
Loire-Atlantique department of France after plans of moving its
production to China, Les Echos says.

The Commercial Court of Nantes placed the Company into
receivership on Jan. 25.  The Company shut down its plant in
Carquefou in June last year leaving 51 workers jobless.  


DURPOIX ET FOND: Insolvency Threat Looms Following Order Cuts
-------------------------------------------------------------
Durpoix et Fond might be forced to file for insolvency by
Belgian parent Omco after its major customer slashed volume
orders, Les Echos reports.

The glass manufacturer has been very dependent on its number one
client, U.S.-based Owens-Illinois, which apparently cut down
orders since the end of January.  The order slash forced the
French manufacturer to lay off some of its staff.  According to
reports, Durpoix et Fond has recorded a drop in turnover from
EUR6 million in 2000 to EUR3.9 million last year.

Reports have it that the Company was unable to meet Owens
Illinois' demand to manufacture its products at the same price
as the U.S. group's low-cost suppliers.


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


AERTOS TECHNIK: Frankfurt Court Begins Bankruptcy Proceedings
-------------------------------------------------------------
The District Court of Frankfurt am Main opened bankruptcy
proceedings against AERTOS Technik GmbH on Feb. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until April 10, 2006,
to register their claims with court-appointed provisional
administrator Dr. Rainer Eckert.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Frankfurt am Main, Saal 1,
Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, at 10:00
a.m. on May 22, 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:  AERTOS TECHNIK GmbH
          P.O. Box 750154, Cargo City Sued
          Gebaude 507, 60531 Frankfurt am Main
          Attn: Thomas Franz D'Avis, Manager
          Bergstr. 20, 56869 Mastershausen

          Dr. Rainer Eckert, Administrator
          Schumannstrasse 34b, 60325 Frankfurt/Main
          Tel: 069/74748980
          Fax: 069/747489810
          E-mail: eckert-frankfurt@rae-eckert.de.


ATOS GMBH: Creditors' Meeting Slated for April 19
-------------------------------------------------
The District Court of Darmstadt opened bankruptcy proceedings
against ATOS GmbH on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.  

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Darmstadt, Saal 14,
Mathildenplatz 15, 64283 Darmstadt, at 9:45 a.m. on April 19,
2006, at which time the court-appointed provisional
administrator Bardo M. Sigwart 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:  ATOS GmbH
          Robert-Bosch-Strasse 14, 64319 Pfungstadt
          Attn: Artur Wojt, Manager

          Bardo M. Sigwart, Administrator
          Ostend 14, 64347 Griesheim
          Tel: 06155/60930
          Fax: 06155/66297


BECKER SPORTSURFACES: Court Appoints Provisional Administrator
--------------------------------------------------------------
The District Court of Charlottenburg opened bankruptcy
proceedings against Becker SportSurfaces GmbH on Feb. 7.  
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until May 10, 2006,
to register their claims with court-appointed provisional
administrator Hartwig Albers.     

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 9:35
a.m., on March 14, 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 9:30 a.m., on July 11, 2006, at the same venue.

CONTACT:  BECKER SPORTSURFACES GmbH
          Sperenberger Strasse 5 a, 12277 Berlin

          Hartwig Albers, Administrator
          Luetzowstr. 100, 10785 Berlin


BUEHNER DACH: Claims Registration Ends Tomorrow
-----------------------------------------------
The District Court of Magdeburg opened bankruptcy proceedings
against Buehner Dach- und Ausbau GmbH on Feb. 6.  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 Ruediger Bauch.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Magdeburg, Saal D,
Liebknechtstrasse 65-91, 39110 Magdeburg, at 9:20 a.m. on
April 10, 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:  BUEHNER DACH- UND AUSBAU GmbH
          Hoppenstedter Str. 10, 38835 Buehne
          Attn: Angelika Bruechner, Manager

          Ruediger Bauch, Administrator
          Schleinufer 11, 39104 Magdeburg
          Tel: 0391/53540
          Fax: 0391/5354-100


CAPRI 2100: Insolvency Report Out by May 11
-------------------------------------------
The District Court of Frankfurt am Main opened bankruptcy
proceedings against Capri 2100 Schnellgaststatten GmbH on
Jan. 25.  Consequently, all pending proceedings against the
company have been automatically stayed.  

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Frankfurt am Main, Saal 1,
Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, at 8:45
a.m. on May 11, 2006, at which time the court-appointed
provisional administrator Manfred Burghardt 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:  CAPRI 2100 SCHNELLGASTSTATTEN GmbH
          Eckenheimer Landstrasse 188, 60320 Frankfurt/Main
          Attn: Nisim Nian Levi, Manager
          Gaussstrasse 17, 60316 Frankfurt/Main

          Manfred Burghardt, Administrator
          Theobald-Christ-Strasse 24, D-60316 Frankfurt/Main
          Tel: 069/94414770
          Fax: 069/94414780


CONDOR BETEILIGUNGSGESELLSCHAFT: Bankruptcy Process Begins
----------------------------------------------------------
The District Court of Frankfurt am Main opened bankruptcy
proceedings against Condor Beteiligungsgesellschaft mbH on
Jan. 24.  Consequently, all pending proceedings against the
company have been automatically stayed.  Creditors have until
March 22, 2006, to register their claims with court-appointed
provisional administrator Ulrike Hoge-Peters.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Frankfurt am Main, Saal 1,
Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, at 9:10
a.m. on May 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:  CONDOR BETEILIGUNGSGESELLSCHAFT mbH
          Nibelungenplatz 3, 60318 Frankfurt am Main
          Attn: Matthias Bolz, Manager
          Zehnthofstrasse 2, 55271 Stadecken-Ilfheim

          Ulrike Hoge-Peters, Administrator
          447, Cronstettenstrasse 30, D-60322 Frankfurt/Main
          Tel: 069/9591100
          Fax: 069/959110-12


DAIMLERCHYSLER AG: Internal Probe Reveals "Improper Payments"
-------------------------------------------------------------
An internal bribery probe found that DaimlerChrysler AG made
"improper payments" in Africa, Asia and Eastern Europe resulting
in the dismissal and suspension of several employees, Stephen
Power writes for The Wall Street Journal.

The U.S. Securities and Exchange Commission opened a formal
investigation in August 2004 looking into possible violations by
DaimlerChrysler of the anti bribery, record keeping and internal
control provisions of the U.S. Foreign Corrupt Practices Act.  

The internal investigation revealed that, among others:

   -- the Company identified and self-reported potential tax
      liabilities to tax authorities in several jurisdictions.  
      These tax liabilities of DaimlerChrysler AG and certain
      foreign affiliates result from misclassifications of, or
      the failure to record, commissions and other payments and
      expenses; and

   -- certain payable accounts related to consolidated
      subsidiaries were not eliminated during consolidation.

"We are taking action to address and resolve the issues
identified in the course of our investigation to safeguard
against the recurrence of improper conduct," the Company
disclosed in its Annual Report.  "This includes evaluating and
revising our governance policies and our internal control
procedures."

                   Financial Adjustments

In connection with these issues, the Company recognized charges
in its 2005 consolidated statement of income to correct
misstatements relating to the years 2003 and 2004 which had the
effect of reducing 2005 operating profit by EUR16 million and
reducing 2005 net income by EUR64 million.  

In addition, it has adjusted stockholders' equity as at Jan. 1,
2003, to correct accumulated misstatements in the periods 1994
through 2002 which had the effect of reducing the Jan. 1, 2003,
balance of stockholders' equity by EUR222 million.  As
previously reported, the Company recognized a charge of EUR125
million in the third quarter of 2005 with respect to tax
liabilities that had been identified in the course of the
internal investigation by the date the unaudited interim
financial statements for the third quarter 2005 were issued.  

Following its continued investigation of the misstatements
discussed above, it subsequently determined that any adjustments
for pre-2003 periods should be reflected in the Jan. 1, 2003
balance of stockholders' equity.  Accordingly, Daimler reversed
EUR100 million of the EUR125 million charge originally
recognized in the third quarter 2005.  This amount is reflected
in the EUR222 million reduction of the Jan. 1, 2003 balance of
stockholders' equity.

                        About the Company

Headquartered in Stuttgart, Germany, DaimlerChrysler AG --
http://www.daimlerchrysler.com/-- produces cars and trucks   
under the brands Chrysler, Dodge, Jeep, Mercedes-Benz, Smart,
and Maybach, among others.

A merger of equals between U.S.-based Chrysler Corporation and
Germany's Daimler-Benz was announced in 1998.  In 2003, Detroit
News revealed that the transaction was, in fact, a buyout of
Chrysler by the German firm.  The alleged deception set off
several lawsuits, one of which by billionaire Kirk Kerkorian was
dismissed by the court in April.

In 2000, DaimlerChrysler's U.S. finance arm was accused of
discriminating against African Americans and Hispanics.  A
settlement required the carmaker to offer several billion
dollars in loans.

The carmaker is also a subject to several investigations.
German financial services regulator BaFin has started a formal
probe on alleged illegal trades involving Daimler stocks, which
went up prior to the announcement of Juergen Schrempp's
resignation as chief executive.  It is also being investigated
by the U.S. Justice Department over bribery claims at the
Mercedes Car Group.

While its Chrysler unit is slowly recuperating, the market share
of Mercedes Benz continues to slip.  Mercedes has been described
a "tarnished" brand in the wake of slipups in design and
engineering.  Losses incurred by Mercedes were also blamed for
the 30% drop in DaimlerChrysler's first-quarter earnings.  The
poor result was mostly due to the EUR512 million spent to revamp
its losing Smart venture, which has yet to post a profit.

DaimlerChrysler projects 2004's EUR5.75 billion operating profit
to double by 2008, with Mercedes booking operating profit of
EUR4.7 billion in four years.  Chrysler group aims to book
EUR2.3 billion in profit on top of the EUR2 billion and EUR2.2
billion from the commercial vehicles business and services
operations.


DEILMANN-HANIEL: Insufficient Orders Might Cause Insolvency
-----------------------------------------------------------
The supervisory board of Deilmann-Haniel warned that the mining
division of German construction group Heitkamp-Deilmann-Haniel
could be facing insolvency, Suddeutsche Zeitung reports.

Deilmann's sole customer, German coke mining company Deutsche
Steinkohle, did not have enough orders for the Company to
continue operations threatening the jobs of about 1,500
employees.

Headquartered in Dortmund, Germany Deilmann-Haniel --
http://www.dh-ms.com/en/-- is the mining division of German  
construction group Heitkamp-Deilmann-Haniel (HDH).  It
specializes in the construction of machinery and equipment for
mining, tunneling and civil engineering applications.  


FISCHER & SCHOBERT: Brings In Klause Wrede to Administer Assets
---------------------------------------------------------------
The District Court of Magdeburg opened bankruptcy proceedings
against Fischer & Schobert Handels GmbH on Feb. 4.  
Consequently, all pending proceedings against the company have
been automatically stayed.  

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Magdeburg, Saal E,
Liebknechtstrasse 65-91, 39110 Magdeburg, at 11:20 a.m. on
April 3, 2006, at which time court-appointed provisional
administrator Klaus Wrede 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:  FISCHER & SCHOBERT HANDELS GmbH
          Stadtweg 2, 38855 Reddeber
          Attn: Andre Assmann, Manager
          Raten 2, 34399 Oberweser

          Klaus Wrede, Administrator
          Lennestrasse 10, 39112 Magdeburg
          Tel: 0391/5973315
          Fax: 0391/5973333


GEHESPITZ-BUEROHAUS: Submits to Bankruptcy Process in Frankfurt
---------------------------------------------------------------
The District Court of Frankfurt am Main opened bankruptcy
proceedings against Gehespitz-Buerohaus GmbH & Co. KG on Feb. 2.  
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until May 26, 2006,
to register their claims with court-appointed provisional
administrator Michael C. Frege.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Frankfurt am Main, Saal 2,
Gebaude F, Klingerstrasse 20, 60313 Frankfurt am Main, at 9:00
a.m. on June 20, 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:  GEHESPITZ-BUEROHAUS GmbH & Co. KG
          Hahnstr. 49, 60528 Frankfurt am Main

          Michael C. Frege, Administrator
          Barckhausstrasse 12-16, 60325 Frankfurt/Main
          Tel: 069/71701-300
          Fax: 069/71701-40-410


GIB GESELLSCHAFT: Creditors Must Register Claims by March 17
------------------------------------------------------------
The District Court of Duesseldorf opened bankruptcy proceedings
against GiB Gesellschaft fuer individuelles Bauen mbH on Feb. 7.  
Consequently, all pending proceedings against the company have
been automatically stayed.  Creditors have until March 17, 2006,
to register their claims with court-appointed provisional
administrator Dr. Winfrid Andres.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Duesseldorf, Muehlenstrasse
34, 40213 Duesseldorf, 3. OG Altbau, A 341, at 10:00 a.m. on
April 7, 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: GIB GESELLSCHAFT FUER INDIVIDUELLES BAUEN mbH
         Preussenstr. 26, 41464 Neuss
         Attn: Doris Marmulla, Manager
         
         Dr. Winfrid Andres, Administrator
         Neuer Zollhof 3, 40221 Duesseldorf


H.-P. MOHR: Lueneburg Court Halts Proceedings Due to Bankruptcy
---------------------------------------------------------------
The District Court of Lueneburg opened bankruptcy proceedings
against H.-P. Mohr GmbH on Feb. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.  

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Lueneburg, Saal 302,
Ochsenmarkt 3, 21335 Lueneburg, at 10:15 a.m. on March 24, 2006,
at which time the court-appointed provisional administrator
Hinnerk-J. Mueller 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.-P. MOHR GmbH
          Hassel 6c, 21438 Brackel
          Attn: Hans-Peter Mohr, Manager

          Hinnerk-J. Mueller, Administrator
          Speersort 4-6, 20095 Hamburg
          Tel: 040/303010
          Fax: 040/30301111


HANS OLDAG: Claims Filing Period Ends Tomorrow
----------------------------------------------
The District Court of Hamburg opened bankruptcy proceedings
against Hans Oldag Schweisstechnik GmbH on Feb. 2.  
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 Christoph Henningsmeier.     

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 10:25 a.m. on
April 12, 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:  HANS OLDAG SCHWEISSTECHNIK GmbH
          Billhorner Deich 128, 20539 Hamburg
          Attn: Nils Oldag, Manager
          Weiher 14, 20255 Hamburg

          Christoph Henningsmeier, Administrator
          Osdorfer Landstrasse 230, 22549 Hamburg
          Tel: 8078810


HELD GMBH: Aurich Court Orders Bankruptcy Proceedings
-----------------------------------------------------
The District Court of Aurich opened bankruptcy proceedings
against Held GmbH & Co. KG on Feb. 1.  Consequently, all pending
proceedings against the company have been automatically stayed.  

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Aurich, Saal 115,
Schlossplatz 2, 26603 Aurich, at 10:45 a.m. on April 6, 2006, at
which time the court-appointed provisional administrator Heiko
Janssen 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:  HELD GmbH & Co. KG
          Moor 4-10, 26605 Aurich
          Attn: Guenther Held, Manager
          Hermann-Tempel-Strasse 21, 26603 Aurich

          Heiko Janssen, Administrator
          Julianenburger Str. 19, D-26603 Aurich
          Tel: 04941/97440
          Fax: 04941/9744137


HOFBAUER IMMOBILIEN: Court Appoints Provisional Administrator
-------------------------------------------------------------
The District Court of Pforzheim opened bankruptcy proceedings
against Hofbauer Immobilien GmbH + Co. KG on Feb. 6.  
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 Marc Schmidt-Thieme.     

Creditors and other interested parties are encouraged to attend
the meeting at the District Court of Pforzheim, Mannheimer
Str. 17, 75179 Pforzheim, 3. Stockwerk/Raum 310, at 10:30 a.m.
on April 7, 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:  HOFBAUER IMMOBILIEN GmbH + Co. KG
          Attn: Kurt Hofbauer, Manager
          Mannheimer Strasse 14, 75179 Pforzheim
       
          Marc Schmidt-Thieme, Administrator
          Soldnerstr. 2, 68219 Mannheim


HOHENLEITNER GMBH: Court to Verify Claims on May 15
---------------------------------------------------
The District Court of Fuerth opened bankruptcy proceedings
against Hohenleitner GmbH on Feb. 6.  Consequently, all pending
proceedings against the company have been automatically stayed.  
Creditors have until April 20, 2006, to register their claims
with court-appointed provisional administrator Susanne Fichna.     

The court will verify the claims set out in the administrator's
report at 10:00 a.m., on May 15, 2006 at the District Court of
Fuerth, Zi 216/II, Dienstgebaude, Baumenstrasse 28.

CONTACT:  HOHENLEITNER GmbH
          Jordanstr. 10 in 90513 Zirndorf
           
          Susanne Fichna, Administrator
          Merckstr. 5, 91522 Ansbach
          Tel: 0981/9531960
          Fax: 0981/9531969


JOKUSCH GLASEREI: Hamburg Court Rules on Bankruptcy
---------------------------------------------------
The District Court of Hamburg opened bankruptcy proceedings
against Jokusch Glaserei Fensterbau GmbH on Feb. 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.  

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 10:00 a.m. on
April 4, 2006, at which time court-appointed provisional
administrator Jens-Soren Schroder 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:  JOKUSCH GLASEREI FENSTERBAU GmbH
          Grossmoorbogen 22, 21079 Hamburg
          Attn: Albert Jokusch, Manager
          Egon and Stefan Tiedke, Managers

          Jens-Soren Schroder, Administrator
          Raboisen 38, 20095 Hamburg
          Tel: 334460
          Fax: 33446111


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


ELAN CORPORATION: Breakout Session Set Today
--------------------------------------------
Elan Corporation, plc said on March 1 that its presentation and
breakout session at the SG Cowen 26th Annual Healthcare
Conference in Boston will be web cast live via the Internet
today, March 9, 2006.  

The presentation will be Web cast at 11:20 a.m. Eastern Time,
4:20 p.m. Greenwich Mean Time.  The breakout session will be web
cast at 12:10 p.m. Eastern Time, 5:10 p.m. Greenwich Mean Time.
Interested parties may access a live audio web cast of the
presentation by visiting Elan's Web site at http://www.elan.com/
-- and clicking on the Investor Relations section, then on the
event icon.

                           About Elan

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

                        *     *     *

Moody's Investors Service rates Elan's long-term corporate
family rating at Ba3.  The company's long-term foreign issuer
credit rating and long-term local issuer credit rating carry
Standard & Poor's single-B rating.

As reported by TCR-Europe on May 2, 2005, the company's net loss
for the first quarter of 2005 amounted to US$115.6 million, an
increase of 86% over the US$62.2 million reported in the same
quarter of 2004.  Of the US$74.7 million net operating loss for
the first quarter of 2005, US$58.6 million related to
Tysabri(TM).  Total revenue decreased 31% to US$102.7 million in
the first quarter of 2005 from US$148.3 million in the first
quarter of 2004.


ELAN CORPORATION: U.S. & European Authorities Review TYSABRI(R)
---------------------------------------------------------------
Biogen Idec (NASDAQ: BIIB) and Elan Corporation, plc (NYSE: ELN)
disclosed on March 1 that two-year results from the two Phase
III clinical trials evaluating TYSABRI(R) (natalizumab) for
patients with relapsing forms of multiple sclerosis (MS), as
well as data from the comprehensive safety evaluation of the
product were published for the first time in this week's issue
of The New England Journal of Medicine.  The two-year data from
the Phase III MS trials were previously presented at U.S. and
international medical meetings during 2005.

Data from the Phase III AFFIRM monotherapy trial, the Phase III
SENTINEL trial in which TYSABRI was added to AVONEX(R)
(Interferon beta-1a) therapy, and the safety evaluation were
submitted to the U.S. Food and Drug Administration (FDA) in a
supplemental Biologics License Application in September 2005.  
The sBLA is under Priority Review, and the companies anticipate
action from FDA in late March.  Similar data have been submitted
to European regulatory authorities.

Two-year AFFIRM Phase III monotherapy data published last week
showed that treatment with TYSABRI reduced the risk of
disability progression by 42% (p<0.001), the primary endpoint of
the study, and led to a 68% reduction (p<0.001) in the
annualized relapse rate compared to placebo.  TYSABRI treatment
also resulted in sustained and statistically significant
reductions in brain lesion activity as measured by MRI.  The
two-year SENTINEL Phase III data also demonstrated that
treatment with TYSABRI in addition to AVONEX had a significant
effect on disability progression, relapse rate and brain MRI
disease activity compared to AVONEX alone.

Biogen Idec and Elan collaborated with leading experts in MS and
progressive multifocal leukoencephalopathy to complete a safety
evaluation of more than 3,000 patients who had received TYSABRI.  
An Independent Adjudication Committee, established as part of
the safety evaluation, published its findings that concluded
there were no new confirmed cases of PML in patients treated
with TYSABRI beyond the three previously reported by the
companies.

"Data from AFFIRM and SENTINEL, among the largest ever Phase III
MS trials, provide compelling evidence of the benefit of
TYSABRI.  Currently available MS therapies often do not
adequately control the disease for many patients, creating a
significant unmet need that TYSABRI may help address.  It is
encouraging to see that regulatory agencies are reviewing data
from the clinical trials and the comprehensive safety evaluation
to clarify the risk-benefit profile of TYSABRI in MS," said
Chris Polman, MD, PhD, lead investigator of the AFFIRM study,
professor of Neurology at Vrije Universiteit Medical Centre, and
clinical and scientific director of the Multiple Sclerosis
Centre at the VU Medical Centre, Amsterdam.

                     IAC Safety Evaluation

As part of the safety evaluation, the IAC was established to
review any suspected cases of PML.  The IAC was chaired by
Eugene Major, PhD, Chief of the Laboratory of Molecular Medicine
and Neuroscience at the National Institute of Neurological
Disorders and Stroke at the National Institutes of Health.  
Highlights of the IAC's findings include:

   -- The safety review was designed to evaluate TYSABRI
      clinical trial patients and any reports of suspected PML
      in patients receiving TYSABRI in the commercial setting.  
      Of the 3,826 MS, Crohn's disease (CD) and rheumatoid
      arthritis (RA) clinical trial patients eligible for the
      evaluation, 3,389 (89%) participated (2,046 MS patients,
      1,343 CD and RA patients).

   -- Of the participating MS patients, 97% were examined with
      MRI or neurological exam within three months of the last
      dose, while 91% of CD and RA patients were examined within
      6 months of the last dose.

   -- A total of 44 patients were referred to IAC for
      evaluation, which determined that none of the referred
      cases met the diagnostic criteria for PML.

                    About AFFIRM and SENTINEL

Both AFFIRM and SENTINEL were designed to evaluate the effect of
TYSABRI on the progression of disability as measured by at least
a one-point worsening on the Expanded Disability Status Scale
(EDSS) sustained for three months, and on the rate of clinical
relapses.  AFFIRM was a two-year, randomized, multi-center,
placebo-controlled, double blind study of 942 patients conducted
in 99 sites worldwide.  Patients in the AFFIRM monotherapy trial
were randomized to receive either a 300 mg IV infusion dose of
TYSABRI (n=627) or placebo (n=315) every four weeks.  SENTINEL
was a two-year, randomized, multi-center, placebo-controlled,
double blind study of 1,171 AVONEX-treated patients in 124
clinical trial sites worldwide.  AVONEX-treated patients who
continued to experience disease activity were randomized to add
TYSABRI (n=589) or placebo (n=582) to their regimen of AVONEX.

                    TYSABRI Phase III Safety

The adverse events most strongly associated with TYSABRI therapy
compared to placebo in AFFIRM were fatigue and allergic
reaction.  Adverse events in SENTINEL associated with add-on
therapy compared to AVONEX alone were anxiety, pharyngitis,
sinus congestion and peripheral edema.  The incidence of serious
adverse events was not significantly different between the two
treatment groups in each trial, and in each trial the most
common serious adverse event was MS relapse.  In SENTINEL, one
of the serious adverse events reported was PML, a rare and
potentially fatal, demyelinating disease of the central nervous
system.  A second patient was diagnosed with PML, and
subsequently died during the extension phase of the study.  Both
cases of PML were observed in TYSABRI plus AVONEX-treated
patients.  In both AFFIRM and SENTINEL, the proportion of
patients with non-serious and serious infections, and the rate
of these infections were similar in the two groups.

                     About Biogen Idec

Biogen Idec (NASDAQ: BIIB) -- http://www.biogenidec.com/--  
creates new standards of care in oncology, neurology and
immunology.   As a global leader in the development,
manufacturing, and commercialization of novel therapies, Biogen
Idec transforms scientific discoveries into advances in human
healthcare.   

                           About Elan

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

                        *     *     *

Moody's Investors Service rates Elan's long-term corporate
family rating at Ba3.  The company's long-term foreign issuer
credit rating and long-term local issuer credit rating carry
Standard & Poor's single-B rating.

As reported by TCR-Europe on May 2, 2005, the company's net loss
for the first quarter of 2005 amounted to US$115.6 million, an
increase of 86% over the US$62.2 million reported in the same
quarter of 2004.  Of the US$74.7 million net operating loss for
the first quarter of 2005, US$58.6 million related to
Tysabri(TM).  Total revenue decreased 31% to US$102.7 million in
the first quarter of 2005 from US$148.3 million in the first
quarter of 2004.


IWP INTERNATIONAL: Wants Shareholders to OK Restructuring Plan
--------------------------------------------------------------
IWP International PLC will ask shareholders to approve the
Company's financial restructuring and delisting from the Irish
Stock Exchange at an extraordinary general meeting on March 30,
2006.

The Company signed the restructuring and financing agreements on
Friday, March 3, 2006, conditional on the approval of the
resolutions by shareholders at the EGM.

                        Restructuring Plan

In December 2005, the company concluded a non-binding indicative
heads of terms with principal secured creditors, which sets out
the principles for the financial restructuring of IWP and its
subsidiaries.  As part of this agreement, the Group also
announced its intention to seek approval from shareholders to
delist from the Irish Stock Exchange.

IWP has been granted a waiver from all of the secured creditors
of any existing covenant breaches to March 31, 2006.  The
continuation of this waiver is subject to one of the secured
creditors, representing approximately 3% of the secured
indebtedness, being acquired by another existing secured
creditor or a person who becomes a secured creditor and supports
the Restructuring within 20 days from this date.

The key points of the Restructuring are:

   -- The secured creditors will convert about EUR56 million of
      their existing debt to equity resulting in them owning 90%
      of the enlarged ordinary share capital of the Company;

   -- The Restructuring will significantly reduce IWP's gross
      secured indebtedness (including swaps close out cost,
      make whole due under the notes and all deferred interest)
      from approximately EUR121 million to EUR65 million;

   -- 10% of the enlarged ordinary share capital of the Company
      will be retained by the existing ordinary shareholders;

   -- A Cash-Out Alternative will be offered to existing
      ordinary shareholders at a price of 3.5 cent per existing
      ordinary share;

   -- Ordinary shareholders who wish to retain their shares in
      the Company may elect to do so.  The secured creditors
      will waive any rights they may have to compulsorily
      acquire shares held by existing ordinary shareholders if
      the shareholder elects not to take the Cash-Out
      Alternative;

   -- Preference shareholders will have the opportunity to
      obtain cash for their shares at nominal value plus
      accumulated unpaid dividend, amounting in aggregate to
      EUR82,423;

   -- The Company will apply for its shares to be delisted from
      the Irish and London Stock Exchanges as part of the
      Restructuring;

   -- The claims of all general unsecured creditors of the Group
      will not be involved in and will not be compromised by the
      Restructuring;

   -- Post the Restructuring, the EUR65 million debt remaining
      within the Group will be consolidated into two tranches of
      EUR35,000,000 ('Tranche A') and EUR30,000,000 ('Tranche
      B'), Respectively;

      * Tranche A will be repayable 5 years following completion
        of the Restructuring and Tranche B will be repayable on
        the same date as Tranche A provided that such date shall
        be automatically extended by successive 60 day periods
        in the event that the Group still holds all or any
        portion of its investment in Jeyes Holdings Limited or
        Jeyes Group Limited.  Tranche B will be repayable only
        out of amounts received by the Group from the Jeyes
        Investment,

      * Tranche A will carry an interest rate of LIBOR + 2.25%
        p.a., payable quarterly in arrears and Tranche B will
        carry an interest rate of 12.00% p.a. payable in kind
        and rolled up quarterly;

   -- An executive chief restructuring officer is to be
      appointed as soon as reasonably practicable;

   -- A new Board of directors of the Company satisfactory to
      the secured creditors, which will include the current
      finance director, Paul O'Brien, is to be appointed.  The
      Company will enter into termination arrangements with all
      directors who resign upon completion of the Restructuring
      on terms and conditions satisfactory to the secured
      creditors;

   -- A compromise agreement has been reached in relation to the
      termination of the lease at 19 Fitzwilliam Square (the
      Company's head office) so that it is capable of being
      terminated with three months notice and a final
      termination and dilapidation settlement of EUR240,000;

   -- All outstanding share options are to be cancelled. Post
      the Restructuring the Company will implement an executive
      incentive plan based on successful implementation of the
      Company's business plan;

   -- The Restructuring will be subject to customary business
      and market material adverse change clauses;

   -- The completion of the Restructuring will be conditional
      on:

      * the completion of further legal and financial due
        diligence by the secured creditors,

      * securing adequate working capital facilities from April
        2006,

      * the receipt of all necessary Board and secured creditors
        committee approvals,

      * the receipt of all necessary applicable regulatory
        approvals (including approvals from the Irish Takeover
        Panel, any listing authorities, competition authorities,
        pension regulators or any other relevant authority or
        regulator),

      * the receipt of all necessary shareholder approvals, and

      * the negotiation, execution and delivery of definitive
        documentation.

The Restructuring is targeted to complete in the first quarter
of 2006.

Following approval of the restructuring, the Group intends to
prepare its year end accounts to March 31, 2006, under Irish
GAAP and therefore it is appropriate to adopt consistent
accounting standards for interim reporting in line with the
Stock Exchange listing rules; therefore the Group is announcing
its interim results under Irish GAAP.

Headquartered in Dublin, Ireland, IWP International plc --
http://www.iwp.ie/iwphome.html-- manufactures, distributes and  
markets household and personal care products, labels precision
components and color cosmetics.  It is divided into four main
divisions: cosmetics, household products, personal care, and
distribution.  Its businesses are located in the Netherlands,
the United Kingdom, France, Poland, the United States and
Ireland.

At Sept. 30, 2005, the Company's balance sheet showed EUR6.68
million in stockholders' deficit, compared with a EUR1.36
million stockholders' deficit at Sept. 30, 2004.


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


FIRMA KAISAR: Creditors' Claims Due Next Week
---------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola region
declared LLP Firma Kaisar bankrupt on January 6, 2006.  Proofs
of claim will be accepted at Akmola region, Kokshetau, K. Marks
Str. 134a-3 on or before March 17, 2006.

CONTACT:  THE SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF
          AKMOLA REGION
          Akmola region, Kokshetau, K. Marks Str. 134a-3  


JANA-IRTYSH: Bankruptcy Proceedings Begin
----------------------------------------
The Taxation Committee and the Specialized Inter-Regional
Economic Court of Pavlodar region commenced bankruptcy
proceedings against LLP Jana-Irtysh on January 16, 2006.


KAMKOR: Succumbs to Bankruptcy Process in West Kazakhstan
---------------------------------------------------------
The Specialized Inter-Regional Economic Court of West Kazakhstan
region commenced bankruptcy proceedings against OJSC Kamkor on
Jan. 12, 2006.


KAPREMSTROI: Submits to Bankruptcy Process
------------------------------------------
The Taxation Committee by Pavlodar and decision of the
Specialized Inter-Regional Economic Court of Pavlodar region
commenced bankruptcy proceedings against LLP KAPREMSTROI on
January 16, 2006.


MARS-2000: Creditors Have Until Mar. 17 to File Proofs of Claim
---------------------------------------------------------------
The Court of Aktobe has declared LLP MARS-2000 bankrupt.  Proofs
of claim will be accepted at Aktobe, Altynsarina Str. 31 on or
before March 17, 2006.

CONTACT:  THE COURT OF AKTOBE
          Aktobe, Altynsarina Str. 31


NIKA: Almaty Court Sends Group Into Bankruptcy
----------------------------------------------
The Specialized Inter-Regional Economic Court of Almaty declared
LLP Nika bankrupt on December 22, 2005.  Proofs of claim will be
accepted at Almaty, Prokofieva Str. 41-3 on or before March 17,
2006.

CONTACT:  THE SPECIALIZED INTER-REGIONAL ECONOMIC COURT OF
          ALMATY
          Phone: 8 3272 95-85-86
                 8 300 756 42-06


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


GUMUS: Assets Sale Set End of the Month
---------------------------------------
The Subdivision Service of the Court Officers of Panfilov
district of Chui region will sell the properties of LLC
Agricultural Industrial Company Gumus on March 30, 2006.

Lot 1: (1:00 p.m.)

   -- House (118.59 sq. m.)

   -- Land area (1023 sq. m.)

   -- Chui region, Panfilov district, Chaldovar,
      Pervomaiskaya Str. 4.

   -- Starting price is KGS190,000

Lot 2: (9:00 a.m.)

   -- Mill (415.3 sq. m.)

   -- Land area (6,200 sq. m.)

   -- Chui region, Panfilov district, Chaldovar,
      Verhnaya Str. 228.

   -- Starting price is KGS900,000


Lot 3: (10:00 a.m.)

   -- Production building (712 sq. m.)

   -- Land area (6,200 sq. m.)

   -- Chui region, Panfilov district, Chaldovar,
      Verhnaya Str. 228.

   -- Starting price is KGS800,000

Lot 4: (11:00 a.m.)

   -- 16-unit apartment house (535 sq. m.)

   -- Chui region, Panfilov district, Chaldovar, Verhnaya Str.
      228

   -- Starting price is KGS800,000


Lot 5:  (2:00 p.m.)

   -- Cafe Morojenoye (241 sq. m.)

   -- Land area (420 sq. m.)

   -- Chui region, Panfilov district, Chaldovar, Lenina Str.
      409
   -- Starting price is KGS900,000

Lot 6: (3:00 p.m.)

   -- Production building and tool workshop (241 sq. m.)

   -- land area (420 sq. m.)

   -- Chui region, Panfilov district, Chaldovar, Lenina Str.
      409

   -- Starting price is KGS250,000

Lot 7: (4:00 p.m.)

   -- Production building (560.7 sq. m.)

   -- Land area (1740 sq. m.)

   -- Chui region, Panfilov district, Chaldovar, Lenina Str.
      409

   -- Starting price is KGS300,000

Lot 8: (12:00 noon)

   -- Technical equipment

   -- Chui region, Panfilov district, Chaldovar, Verhnaya Str.
      228.

   -- Starting price is KGS410,000

Participants must deposit an amount equivalent to 5% of the
starting price on or before March 29, 2006 to:

   -- settlement account of the Panfilov district Court,
      Panfilov Regional Treasure Department (8054172080101001);

   -- personal account of the Panfilov district Court
      (306802501); or

   -- Kainda Settlement and Saving Company (129008)

CONTACT:  N.D. Kocherbayev, Court Officer
          Phone: (+996 31 37) 41-5-82


SELBI: Proofs of Claims Filing Deadline Due April 20
----------------------------------------------------
LLC Selbi has declared insolvency.  Proofs of claim will be
accepted on or before April 20, 2006

The company can be contacted at (+996 312) 68-00-63.


VENS TRAVEL: Creditors' Claims Due April
----------------------------------------
LLC VENS TRAVEL has declared insolvency.  Proofs of claim will
be accepted at Bishkek, Chui ave. 128/10 on or before April 20,
2006

CONTACT:  VENS TRAVEL
          Bishkek, Chui Ave. 128/10


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


CHIQUITA BRANDS: Earns US$131.4 Million in Fiscal Year 2005
-----------------------------------------------------------
Chiquita Brands International, Inc. (NYSE: CQB) delivered its
financial results for the fourth quarter and fiscal year ended
Dec. 31, 2005, to the Securities and Exchange Commission on
Feb. 22, 2006.

For the fourth quarter 2005, the company reported $19 million in
net loss, compared with a $25.1 million net loss for the same
period in 2004.  The quarterly result includes $23 million of
costs from previously announced flooding in Honduras caused by
Tropical Storm Gamma in November and the consolidation of fresh-
cut fruit facilities in the Midwestern United States.

Net income for the full-year 2005 was $131.4 million compared to
a $55.4 million of net income for the full-year 2004, which
included expenses of $19 million that primarily represented the
premium to refinance the company's 10.56% senior notes and $9
million relating to restructuring at Atlanta AG and to
severance.

"We had a terrific year in 2005," said Fernando Aguirre,
Chiquita's chairman and chief executive officer.  "In fact, we
realized the best annual financial results in more than a decade
in spite of fourth quarter challenges of flooding in Honduras,
the impact of a lower year-over-year euro-dollar exchange rate
and continuing high costs for fuel and ship charters."

Mr. Aguirre continued, "The European Commission's decision to
more than double its tariff on Latin American banana imports on
Jan. 1, 2006, will result in higher costs and market
uncertainty.  However, we are committed to overcoming these
challenges and winning in the European market in the long-term
with our clear brand leadership and excellent customer
relationships.  During the fourth quarter, we invested an
additional $20 million in consumer marketing and innovation
spending in Europe to reinforce Chiquita's brand premium in
advance of the tariff change.  Consumers can continue to expect
Chiquita to offer better bananas, and our retail partners can
continue to count on us to deliver consistently high quality
products, superior service and innovation."

             Fourth Quarter 2005 Financial Highlights

Net sales were $999 million, up 30 percent from $768 million in
the fourth quarter 2004.  The increase resulted primarily from
the acquisition of Fresh Express and higher banana pricing in
Europe and North America, partly offset by lower banana volume.

The company incurred an operating loss of $1 million, compared
to income of $35 million in the year-ago period. Operating
results for 2005 included:
   
   * $17 million impact from flooding in Honduras caused by
     Tropical Storm Gamma in November, comprised of a $12
     million mostly noncash charge primarily for asset
     writedowns, $3 million impact from lower volume in North
     America, and $2 million of increased costs for replacement
     fruit and transportation.  These flood-related costs are
     within the company's estimate of $13-18 million announced
     in late November.

   * $6 million mostly noncash charge resulting from the
     previously announced consolidation of fresh-cut fruit
     facilities in the Midwestern United States.

Operating cash flow was $11 million, compared to $2 million in
the year ago period.  Interest expense was $23 million, compared
to $9 million in the year ago period, as a result of financing
for the Fresh Express acquisition.

At Dec. 31, 2005, total debt was $997 million, a reduction of
$84 million since Sept. 30, 2005, including $75 million of
voluntary prepayments, and cash was $89 million.

Chiquita Brands International, Inc. -- http://www.chiquita.com/
-- is a leading international marketer and distributor of high-
quality fresh and value-added produce, which is sold under the
Chiquita(R) premium brand, Fresh Express(R) and other related
trademarks.  The company is one of the largest banana producers
in the world and a major supplier of bananas in Europe and North
America.  In June 2005, Chiquita acquired Fresh Express, the
U.S. market leader in value-added salads, a fast-growing food
category for grocery retailers, foodservice providers and quick-
service restaurants.

                        *     *     *

Chiquita Brands' $250 million 7-1/2 notes due Nov. 1, 2014,
carry Moody's Investors Service's and Standard & Poor's single-B
ratings.


CHIQUITA BRANDS: Annual Stockholders' Meeting Set on May 25
-----------------------------------------------------------
Chiquita Brands International, Inc. (NYSE: CQB) will hold its
Annual Meeting of Shareholders on May 25, 2006, at the Hilton
Cincinnati Netherland Plaza.

The record date for determining shareholders entitled to vote at
the meeting will be April 3, 2006.  The company will mail to
shareholders of record in mid-April a notice of the meeting and
related proxy materials.

Chiquita Brands International, Inc. -- http://www.chiquita.com/
-- is a leading international marketer and distributor of high-
quality fresh and value-added produce, which is sold under the
Chiquita(R) premium brand, Fresh Express(R) and other related
trademarks.  The company is one of the largest banana producers
in the world and a major supplier of bananas in Europe and North
America.  In June 2005, Chiquita acquired Fresh Express, the
U.S. market leader in value-added salads, a fast-growing food
category for grocery retailers, foodservice providers and quick-
service restaurants.

                        *     *     *

Chiquita Brands' $250 million 7-1/2 notes due Nov. 1, 2014,
carry Moody's Investors Service's and Standard & Poor's single-B
ratings.


GETRONICS N.V.: Clarifies Dividend Report
-----------------------------------------
Media Coverage on March 2 correctly reports that applying the
dividend policy based on a net result of EUR4 million would
result in dividend payment that was not meaningful.  This has
led to the incorrect conclusion that Getronics will not pay a
dividend in 2005.

The Board of Management, after approval of the Supervisory
Board, would like to clarify that it is intending to propose to
the forthcoming shareholders meeting a discretionary dividend to
ordinary shareholders equal to the dividend paid over 2004
(EUR0.07 per share).  The ex-dividend date is April 25, 2006.

                      About the Company

Headquartered in Amsterdam, Netherlands, Getronics N.V. --
http://www.getronics.com/-- designs, integrates and manages ICT  
infrastructures and business solutions for many of the world's
largest global and local companies and organizations, helping
them maximize the value of their information technology
investments.  Getronics has some 27,000 employees in over 30
countries and approximate revenues of EUR3 billion.  The company
has regional offices in Boston, Madrid and Singapore.  Its
shares are traded on Euronext Amsterdam.   

                        *     *     *

As reported in the Troubled Company Reporter-Europe on Jan. 23,
2006, Standard & Poor's Ratings Services placed its 'B+' long-
term corporate credit rating on Dutch IT services group
Getronics N.V. on CreditWatch with negative implications,
following a profit warning from the group.  

At the same time, Standard & Poor's placed on CreditWatch
negative its 'B-' senior unsecured debt rating on the group's
convertible bonds and its 'B+' long-term and '3' recovery
ratings on Getronics' EUR300 million ($363 million) senior
secured bank loan.  The '3' recovery rating indicates Standard &
Poor's expectation of meaningful (50%-80%) recovery of principal
for secured lenders in the event of a payment default.

Furthermore, Standard & Poor's withdrew its 'B+' long-term and
'3' recovery rating on the EUR75 million first tranche of the
bank loan, which has been repaid in full.

At Sept. 30, 2005, Getronics had gross debt of EUR518 million,
including EUR135 million in cumulative preference shares.  


GETRONICS N.V.: S&P Cuts Rating to B on Weak Profits
----------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term
corporate credit rating on Dutch IT services group Getronics
N.V. to 'B' from 'B+'.

At the same time, Standard & Poor's lowered its ratings on
Getronics' senior unsecured notes to 'CCC+' from 'B-', still two
notches below the corporate credit rating.  Standard & Poor's
also lowered its ratings on Getronics' EUR300 million senior
secured bank loan to 'B' from 'B+', the same as the corporate
credit rating.  The loan has a '3' recovery rating, indicating
our expectation of meaningful (50%-80%) recovery of principal in
the event of a payment default.

All ratings remain on CreditWatch with negative implications
where they were placed on Jan. 19, 2006, following a profit
warning.

"The downgrade follows Getronics' announcement of significant
cash burn in 2005, particularly at its Italian subsidiary," said
Standard & Poor's credit analyst Patrice Cochelin.

At Dec. 31, 2005, Getronics had gross debt of EUR437 million
($517 million).

Getronics focuses primarily on the highly competitive and low-
margin managed-services segment of the IT services market. The
company has a solid foothold in its core Dutch market (53% of
gross profit) and runs midsize global contracts for
international firms, particularly in the financial services
sector.

In 2005, Getronics incurred an unexpected EUR53 million loss at
its Italian operations, where a large outsourcing contract was
postponed and evidence of intentional misrepresentation by local
management was found. Revenues from Italy fell by 19% to EUR222
million in 2005, while operating losses grew to EUR71 million,
from EUR20 million in 2004. Getronics' management wants to sell
its Italian unit.

"We expect to resolve the CreditWatch placement after the timing
and conditions of an exit from Italy are announced," said Mr.
Cochelin.  "In the meantime, cash losses in Italy continue to
pressure the ratings on Getronics: Management has said that the
EUR53 million net loss in Italy could be repeated in 2006."


ROYAL SHELL: Cancels 1.25 Million A Shares in Buyback Program
-------------------------------------------------------------
Royal Dutch Shell plc purchased on March 7, 2006, 950,000 'A'
Shares for cancellation at a price of EUR25.55 per share.  

In addition, it purchased 300,000 'A' Shares for cancellation at
a price of 1,751.53 pence per share.

Following the cancellation of these shares, the remaining number
of 'A' Shares of Royal Dutch Shell plc will be 3,909,075,000.

As of that date, 2006 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.

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.

                  Overstatement of Reserves

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
===========


BAYMAKSKIY: Claims Filing Period Ends April 4
---------------------------------------------
The Arbitration Court of Bashkortostan republic commenced
bankruptcy proceedings against Baymakskiy after finding the open
joint stock company insolvent.  The case is docketed as A07-
13521/02-A-PAV.  Creditors have until April 4, 2006, to submit
their proofs of claim to 453631, Russia, Bashkortostan republic,
Baymak, Lenina Str. 62.

CONTACT:  BAYMAKSKIY
          453631, Russia, Bashkortostan republic,
          Baymak, Lenina Str. 62


CHEKHOVSKIY: Bankruptcy Supervision Procedure Begins
----------------------------------------------------
The Arbitration Court of Sakhalin region has commenced
bankruptcy supervision on open joint stock company Chekhovskiy.  
The case is docketed as A59-6069/05-S16.  Mr. Ya. Sednev has
been appointed temporary insolvency manager.  

CONTACT:  CHEKHOVSKIY
          694970, Russia, Sakhalin region,
          Kholmskiy region, Chekhov, Lenina Str. 19

          YA. SEDNEV
          Temporary Insolvency Manager
          694620, Russia, Sakhalin region,
          Kholmsk, Pobedy Str. 2, Apartment 33


ENERGO-INVEST-FINANCE: Insolvency Manager Takes Helm
----------------------------------------------------
The Arbitration Court of Bryansk region commenced bankruptcy
proceedings against Energo-Invest-Finance after finding the
close joint stock company insolvent.  The case is docketed as
A09-7356/05-27.  Mr. A. Sherbak has been appointed insolvency
manager.  Creditors have until April 4, 2006, to submit their
proofs of claim to 241050, Russia, Bryansk region, Post User Box
156.

CONTACT:  ENERGO-INVEST-FINANCE
          241035, Russia, Bryansk region,
          Kuybysheva Str. 17

          A. SHERBAK
          Insolvency Manager
          241050, Russia, Bryansk region,
          Post User Box 156
          Tel: (0832) 72-21-03


IMPORT-HOLDING: Declared Insolvent by Smolensk Court
----------------------------------------------------
The Arbitration Court of Smolensk region commenced bankruptcy
proceedings against Import-Holding after finding the limited
liability company insolvent.  The case is docketed as A62-671-
N/05.  Ms. N. Pisarenkova has been appointed insolvency manager.
  
CONTACT:  IMPORT-HOLDING
          Russia, Smolensk region,
          Pechersk, Smolenskaya Str. 9A

          N. PISARENKOVA
          Insolvency Manager
          214000, Russia, Smolensk region,
          Post User Box 309


PBB LPN: Fitch Puts B- to USD9 Million & EUR16 Million Notes
------------------------------------------------------------
Fitch Ratings assigned PBB LPN Issuance Limited's 8.25% USD9
million and 7.25% EUR16 million notes, both due in August 2007 a
final Recovery rating of RR4 and final Long-term rating of B-.

The notes are issued under a USD100 million loan participation
program established in July 2005, and the proceeds from the
notes are to be used solely for financing a loan to JSC
Probusinessbank.  

The notes are limited recourse obligations of the issuer and
note holders will be relying solely on PBB meeting its
obligations under the loan agreement.

PBB ranks within the top 100 banks in Russia, with consolidated
assets of USD622 million at end-H105, and provides corporate and
retail services primarily in Moscow and through recently
acquired regional banks in the Volga region and Yekaterinburg.

Starting in 2003, PBB has implemented an ambitious strategy
focusing on the regional development of its franchise, both
through organic growth and acquisitions.


POLYMER-MONTAGE: Undergoes Bankruptcy Supervision Procedure
-----------------------------------------------------------
The Arbitration Court of Orenburg region has commenced
bankruptcy supervision on close joint stock company Polymer-
Montage.  The case is docketed as A47-10329/2005-14GK.  Ms. O.
Shevtsova has been appointed temporary insolvency manager.  

A hearing will take place on April 5, 2006, 11:00 a.m. at the
Arbitration Court of Orenburg region at 460000, Russia,
Orenburg, 9th January Str. 64.

CONTACT:  POLYMER-MONTAGE
          462406, Russia, Orenburg region,
          Orsk, Dorozhnaya Str. 4

          O. SHEVTSOVA
          Temporary Insolvency Manager
          460006, Russia, Orenburg region,
          Komsomolskaya Str. 126-51
          Tel: (3532) 73-23-01
          Fax: (3532) 36-13-37


SEL-KHOZ-KHIMIYA: Bryansk Court Brings In Insolvency Manager
------------------------------------------------------------
The Arbitration Court of Bryansk region commenced bankruptcy
proceedings against Sel-Khoz-Khimiya after finding the open
joint stock company insolvent.  The case is docketed as A09-
4854/05-26.  Mr. V. Guslyakov has been appointed insolvency
manager.  

Creditors have until April 4, 2006, to submit their proofs of
claim to Russia, Bryansk region, Timonovskaya Str. 35.

CONTACT:  SEL-KHOZ-KHIMIYA
          243179, Russia, Bryansk region, Krasnogorskiy region,
          Lyubovsho, Sovetskaya Str. 46

          V. GUSLYAKOV
          Insolvency Manager
          Russia, Bryansk region,
          Timonovskaya Str. 35
          Tel: 92-01-53


SIB-SALT: Bankruptcy Hearing Set April 26
-----------------------------------------
The Arbitration Court of Irkutsk region has commenced bankruptcy
supervision on SIB-SALT (TIN 3819002398/381901001).  The case is
docketed as A19-39900/05-37.  Mr. V. Vologzhin has been
appointed temporary insolvency manager.  A hearing will take
place on April 26, 2006, 10:00 a.m.

CONTACT:  SIB-SALT
          665453, Russia, Irkutsk region,
          Usolye-Sibirskoye, Krupskoj Str. 60

          V. VOLOGZHIN
          Temporary Insolvency Manager
          664025, Russia, Irkutsk region,
          S. Razina Str. 23, Post User Box 3311


TRIACETATE: Saratov Court Opens Bankruptcy Proceedings
------------------------------------------------------
The Arbitration Court of Saratov region commenced bankruptcy
proceedings against Triacetate after finding the close joint
stock company insolvent.  The case is docketed as A57-253B/05-
32.  Ms. T. Perfilova has been appointed insolvency manager.

Creditors have until April 4, 2006, to submit their proofs of
claim to:

   (a) TRIACETATE
       413116, Russia, Saratov region,
       Engels, Khimikov Pr. 1

   (b) T. PERFILOVA
       Insolvency Manager
       410029, Russia, Saratov region,
       Sakko i Vantsett Str. 54/60, Office 201

   (c) ARBITRATION COURT OF SARATOV REGION
       Russia, Saratov region,
       Babushkin Vvoz Str. 1, 14th floor
   

ULYANOVSK-METALL-SNAB: Court Sets April 4 Claims Bar Date
---------------------------------------------------------
The Arbitration Court of Ulyanovsk region has commenced
bankruptcy proceedings against Ulyanovsk-Metall-Snab after
finding the open joint stock company insolvent.  The case is
docketed as A72-11797/05-20/16-B.  Mr. V. Nikishkin has been
appointed insolvency manager.  

Creditors have until April 4, 2006, to submit their proofs of
claim to 433870, Russia, Ulyanovsk region, Novospasskoye, Post
User Box 46.

CONTACT:  ULYANOVSK-METALL-SNAB
          432029, Russia, Ulyanovsk region,
          Ulyanovskoye Shosse, 2A

          V. NIKISHKIN
          Insolvency Manager
          433870, Russia, Ulyanovsk region,
          Novospasskoye, Post User Box 46


YARTSEVSKIY COTTON: Firm Falls Into Bankruptcy
----------------------------------------------
The Arbitration Court of Smolensk region commenced bankruptcy
proceedings against Yartsevskiy Cotton Combine after finding the
open joint stock company insolvent.  The case is docketed as
A62-646-N/2005.  Mr. A. Grimovskiy has been appointed insolvency
manager.

Creditors have until April 4, 2006, to submit their proofs of
claim to:

   (a) YARTSEVSKIY COTTON COMBINE
       215800, Russia, Smolensk region,
       Yartsevo, Leninskaya Str. 16

   (b) A. GRIMOVSKIY
       Insolvency Manager
       214000, Russia, Smolensk region,
       Dzerzhinskogo Str. 18, Building 2, Apartment 7

   (c) ARBITRATION COURT OF SMOLENSK REGION
       214018, Russia, Smolensk region,
       Gagarina Pr. 46


===============
S L O V E N I A
===============


ISKRAEMECO: Mounting Debts Trigger Bankruptcy Filing
----------------------------------------------------
The Board of Iskraemeco filed for bankruptcy pursuant to a
compulsory settlement proposal on Feb. 16, 2006, in order to
reorganize its finances, Finance Business Daily reports.

The European utility metering manufacturer laid off 500 workers
in 2005 due to high raw material costs and is in talks to
further decrease its workforce.  The paper reveals that the
Company reportedly had up to EUR70 million in debt, twice as
much as its worth, the paper reports.

Chairman Karl Rozman disclosed EUR5.8 million in losses last
year, while revenues amounted to EUR107 million.  It covered a
potential EUR8 million net loss in 2004 with the sale of
approximately EUR6.7 million in Gorenjska banka shares.

Joze Mencinger, chairman of the supervisory board, hopes the
settlement won't jeopardize their large operations in
Scandinavia, the paper relates.  

Headquartered in Kranj, Slovenia, Iskraemeco --
http://www.iskraemeco.si/-- is the third largest manufacturer  
of electricity meters in Europe and the fifth largest in the
world.  It produces an increasing number of devices and systems
for the measurement and management of energy in industrial and
electric energy distribution systems.


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


AGAT: Ludmila Orletska Takes Over Operations
--------------------------------------------
The Economic Court of Zhitomir region commenced bankruptcy
proceedings against Private Enterprise Agat (code EDRPOU
22064443) on January 19, 2006 after finding the company
insolvent.  The case is docketed as 5/18 B.  Ms. Ludmila
Orletska has been appointed liquidator/insolvency manager.

CONTACT:  AGAT
          10000, Ukraine, Zhitomir region,
          Hlibna Str. 21-a

          Ms. Ludmila Orletska
          Liquidator/Insolvency Manager
          Ukraine, Zhitomir region,
          Pershij Maryanivskij Lane, 68

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


APEDMAK: Declared Insolvent by Harkiv Court
-------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against LLC Apedmak (code EDRPOU 33605965) on
January 25, 2006 after finding the company insolvent.  The case
is docketed as B-39/157-05.  LLC Shamshu has been appointed
liquidator.

CONTACT:  APEDMAK
          61033, Ukraine, Harkiv region,
          Shevchenko Str. 235

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



DELYATIN' WOOD: Bankruptcy Chops Group
--------------------------------------
The Economic Court of Ivano-Frankivsk region commenced
bankruptcy supervision procedure on OJSC Delyatin' Wood Combine
(code EDRPOU 00274275) on Dec. 29, 2005.  The case is docketed
as B-13/130.  Mr. Oleg Yashishin has been appointed temporary
insolvency manager.

CONTACT:  OJSC DELYATIN' WOOD COMBINE
          Ukraine, Ivano-Frankivsk region,
          Nadvirnyanskij district,
          Delyatin, 16 lipnya Str. 11

          Mr. Oleg Yashishin,
          Temporary Insolvency Manager
          76000, Ukraine, Ivano-Frankivsk region,
          G. Mazepa Str. 17 B/7
  
          ECONOMIC COURT OF IVANO-FRANKIVSK REGION
          76000, Ukraine, Ivano-Frankivsk region,
          Shevchenko Str. 16a


MAYAK-1: Court Appoints O. Tishenko to Liquidate Assets  
-------------------------------------------------------
The Economic Court of Harkiv region commenced bankruptcy
proceedings against Agricultural LLC Agrofirm Mayak-1 (code
EDRPOU 00707952) after finding the company insolvent.  The case
is docketed as B-31/43-06.  Mr. O. Tishenko has been appointed
liquidator/insolvency manager.

CONTACT:  MAYAK-1
          Ukraine, Harkiv region,
          Kegichivskij district, Paraskoviya

          Mr. O. Tishenko
          Liquidator/Insolvency Manager
          61002, Ukraine, Harkiv region,
          Petrovskij Str. 6/8-15
  
          ECONOMIC COURT OF HARKIV REGION
          61022, Ukraine, Harkiv region,
          Svobodi Square 5, Derzhprom 8th Entrance


NOVOFASTIVSKE: Vinnitsya Court Opens Bankruptcy Proceedings
-----------------------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Agricultural LLC Novofastivske (code EDRPOU
03729888) on after finding the company insolvent.  The case is
docketed as 5/258-05.  Mr. T. Kucher has been appointed
liquidator/insolvency manager.

CONTACT:  NOVOFASTIVSKE
          22200, Ukraine, Vinnitsya region,
          Pogrebishenskij district, Novofastiv,
          Centralna Str. 6

          Mr. T. Kucher
          Liquidator/Insolvency Manager
          22500, Ukraine, Vinnitsya region,
          Lipovets, Lenin Str. 94

          ECONOMIC COURT OF VINNITSYA REGION
          21036, Ukraine, Vinnitsya region,
          Hmelnitske Shose 7


PROGRES: Goes Into Liquidation in Vinnitsya Region
--------------------------------------------------
The Economic Court of Vinnitsya region commenced bankruptcy
proceedings against Agricultural LLC Progres (code EDRPOU
05525227) after finding the company insolvent.  The case is
docketed as 10/179-05.  Mr. T. Kucher has been appointed
liquidator/insolvency manager.

CONTACT:  PROGRES
          22254, Ukraine, Vinnitsya region,
          Pogrebishenskij district, Dovzhok,
          Centralna Str. 37

          Mr. T. Kucher
          Liquidator/Insolvency Manager
          22500, Ukraine, Vinnitsya region,
          Lipovets, Lenin Str. 94

          ECONOMIC COURT OF VINNITSYA REGION
          21036, Ukraine, Vinnitsya region,
          Hmelnitske Shose 7


REGION-KRYM: Insolvency Manager Comes In
----------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
proceedings against CJSC REGION-KRYM (code EDRPOU 30646108) on
January 10, 2006 after finding the company insolvent.  The case
is docketed as 2-26/2869-2006.  Mr. Andrij Sviridenko has been
appointed liquidator/insolvency manager.

CONTACT:  REGION-KRYM
          Ukraine, AR Krym region,
          Simferopol, Chervonoznamenna Str. 61

          Mr. Andrij Sviridenko
          Liquidator/Insolvency Manager
          98612, Ukraine, AR Krym region,
          Yalta, Mishorska Str. 1/9

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


SOVETSKIJ BUTTER: Submits to Bankruptcy Procedure
-------------------------------------------------
The Economic Court of AR Krym region commenced bankruptcy
supervision procedure on OJSC Sovetskij' Butter Plant (code
EDRPOU 00446300) on Nov. 24, 2005.  The case is docketed as 2-
29/163912-2005.  Mr. Kuht Vasil has been appointed temporary
insolvency manager.

CONTACT:  SOVETSKIJ BUTTER PLANT
          97200, Ukraine, AR Krym region,
          Sovetskij, Severnij lane, 6

          Mr. Kuht Vasil
          Temporary Insolvency Manager
          95048, Ukraine, AR Krym region,
          Simferopol, a/b 2745

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


ZAHIDIMPROMMONTAZH: Under Bankruptcy Supervision
------------------------------------------------
The Economic Court of Ivano-Frankivsk region commenced
bankruptcy supervision procedure on CJSC Zahidimprommontazh
(code EDRPOU 01415751) on December 20, 2005.  The case is
docketed as B-7/227.  Mr. Vasil Martinuk has been appointed
temporary insolvency manager.

CONTACT:  ZAHIDIMPROMMONTAZH
          Ukraine, Ivano-Frankivsk region,
          Botanichna Str. 8

          Mr. Vasil Martinuk
          Temporary Insolvency Manager
          Ukraine, Ivano-Frankivsk region,
          Pivdennij bulvar Str. 42/9

          ECONOMIC COURT OF IVANO-FRANKIVSK REGION
          76000, Ukraine, Ivano-Frankivsk region,
          Shevchenko Str. 16a


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


ARBORICULTURAL AGENCY: Closes Operations & Liquidates Assets
------------------------------------------------------------
Members of Arboricultural Agency Limited passed a resolution to
wind up the company's operations on Feb. 13, 2006.

Jeremiah Anthony O'Sullivan, of Bishop Fleming, was appointed
Liquidator.

CONTACT:  ARBORICULTURAL AGENCY LIMITED
          Dainton House Farm
          Dainton Newton Abbot Devon
          TQ125TZ
          Tel: 01803 813 286
          Fax: 01803 813 286
          Web: http://www.arboricultural-agency.com/


ARTCARE (UK): Administrators Take Over Helm
-------------------------------------------
Roger Tulloch and Robert Horton of Smith & Williamson Limited
were appointed administrators of Artcare (UK) Ltd (Company
Number 00883805) on Feb. 17.  

Smith & Williamson -- http://www.smith.williamson.co.uk/-- is  
an independent professional and financial services group
employing over 1,200 people.  It is the leading provider of
investment management, financial advisory and accountancy
services to private clients, professional practices, mid to
large corporates and non-profit organizations.

Headquartered in London, Artcare UK Ltd --
http://www.artcare.co.uk/-- supplies presentation portfolios  
and carrying cases for the education industry for more than 30
years in the UK, as well as countries as far as Australia,
Germany and Holland.  


CANDY SHOT: Taps Elizabeth Arakapiotis to Liquidate Assets
----------------------------------------------------------
The Candy Shot Company Limited appointed Elizabeth Arakapiotis,
to liquidate its assets after members passed a resolution to
wind up the company's operations on Feb. 9, 2006.

Company Director, W.J. Turnage revealed that the company could
not continue its business after being slumped in debt.

CONTACT:  THE CANDY SHOT COMPANY LIMITED
          Denham House
          Ewen Cirencester Gloucestershire
          GL7 6BY
          Tel: 01284 770 014


CECCO'S RESTAURANT: Cresswall Associates Leads Administration
-------------------------------------------------------------
Gordon Craig and Daniel Paul Hennessy of Cresswall Associates
Limited were appointed joint administrators of Cecco's
Restaurant Limited (Company Number 04977801) on Feb. 15.

CONTACT:  CRESSWALL ASSOCIATES LIMITED
          Maple View,
          White Moss Business Park,
          Skelmersdale WN8 9TG


CENTURION BATHS: Administrator From DCM Insolvency Moves In
-----------------------------------------------------------
Mark S. Goldstein of DCM Insolvency Service Limited was
appointed administrator of Centurion Baths Limited (Company
Number 04265932) on Feb. 21.

Centurion Baths Ltd manufactures baths and showers.  Its office
is at Yonder Hill, Chard Junction, Chard, Somerset TA20 4QR.  

CONTACT:  DCM INSOLVENCY SERVICE LIMITED
          Kingswood Court
          1 Hemlock Close
          Kingswood
          Surrey KT20 6QW
          Tel: 01737 830763
          Fax: 01737 83081
          E-mail: markmga@aol.com  


CMH CONSTRUCTION: Creditors Confirm Voluntary Liquidation
---------------------------------------------------------
Creditors of CMH Construction Limited confirmed the company's
voluntary liquidation after members passed a resolution to wind
up the company's operations on Feb. 14, 2006.

Creditors also ratified the appointment of Malcolm Edward
Fergusson, as Liquidator.

CONTACT:  CMH CONSTRUCTION LIMITED
          14 Trafalgar Terrace
          Darlington County Durham
          DL3 6QQ
          Tel: 01325 250 172


COLT TELECOM: Stockholders to Vote on Article Revision at EGM
-------------------------------------------------------------
COLT Telecom Group plc will ask shareholders to approve a
resolution authorizing the Company to change its articles of
association during an extraordinary general meeting at 11:00
a.m., on March 30, 2006, at 23 Great Winchester Street in London
EC2P 2AX.

The revised articles of association will provide the Company the
power to require sufficient U.S. shareholders to sell their
shares so that it can suspend or terminate its US Registration,
as it meets the Securities and Exchange Commission's
requirements for suspension and termination.  The Company
intends to exercise its compulsory transfer powers as soon as
possible subject to approval of the amendments to its articles
of association at the EGM.  

Colt Telecom -- http://www.colt.net/-- offers business  
communication services across Europe.  Through its fiber optic
network, the Company offers voice, bandwidth, e-business and
managed network services to finance, industry and service sector
customers and governments.

                        *     *     *

On March 1, 2006, Standard & Poor's Ratings Services placed its
'B-' long-term corporate credit rating on European business
telecommunications provider COLT Telecom Group PLC on
CreditWatch with positive implications.  This follows the
group's announcement that it is to create a new European holding
company, raise GBP300 million in equity, and undergo debt
reduction.


GARTMORE HIGH: Expects ZPDs Payment in Voluntary Liquidation
------------------------------------------------------------
Gartmore High Income Securities PLC, a wholly owned subsidiary
of Gartmore High Income Trust PLC, will begin voluntary
liquidation proceedings on March 31, 2006, in accordance with
its Articles of Association.  

The Company's Board of Directors expects that all holders of the
Zero Dividend Preference Shares issued by GHIS will be repaid
their final capital entitlement of 173.36 pence in full.  The
Board will shortly be writing separately to holders of the ZDPs
with further details of the member's voluntary winding-up and to
give notice of an Extraordinary General Meeting to be held on
March 31, 2006, to approve the winding-up procedure.  

The repayment of the ZDPs will be funded by Gartmore High Income
Trust PLC in accordance with loan notes and subscription
agreements between the Company and GHIS dated March 16, 1999,
and Jan. 8, 2001.  GHIT is also due to repay its GBP19.5 million
bank loan on March 30, 2006.  GHIT says it has adequate
resources to repay in full the ZDPs and the Bank Loan.  
Following the repayment of the ZDPs, GHIT will cease to be a
split capital trust.

Based on the position as at Feb. 22, the Directors of GHIT
estimate that, following the repayment of the ZDPs and the Bank
Loan and taking account of estimated charges to capital to
March 31, 2006, and estimated costs of liquidating GHIS, the net
assets of the Company will be approximately GBP14.6 million.

The Directors believe that an investment trust of this size is
not a viable long-term investment vehicle as the costs of
running it are excessive in relation to its size.  Recognizing
this, and in anticipation of the repayments described above, the
Directors and their advisers, Intelli Corporate Finance Limited,
considered various options for the future of the Company,
including proposals under which:

   -- the investment objective of the Company would have been
      revised;
   
   -- a fundraising for the Company to increase substantially
      its size would have been carried out; and
   
   -- a cash exit facility at a level competitive with
      liquidation would have been made available to those
      shareholders who did not want to continue as investors in
      the trust with its revised investment objective.

The Directors believe the proposals would have provided an
equitable choice to those shareholders wishing to continue and
to those wishing to realize cash for their investment.

The revised investment policy was test marketed with a number of
institutional investors and private client fund managers in
October 2005 and was well received.

                     Unlikely Fundraising

However, as has been referred to in the press, Nationwide
Mutual, the parent of Gartmore Investment Management plc is
currently considering its options for the future of Gartmore
which may include its sale.  Due to the uncertainty regarding
Gartmore's future, the Directors have been advised that a
fundraising at this time was unlikely to be successful until
Gartmore's future ownership was known.

The Directors believe that the proposals represented an
attractive way forward for the Company as they would have
provided an ongoing investment vehicle for those who wished to
continue as investors, whilst allowing those who did not want to
do so to dispose of their holdings at a price competitive to
that which they might have received in a liquidation.  As it may
be possible to implement these proposals once Gartmore's
ownership and the future of those working for it becomes certain
the Directors have consulted the Company's major shareholders to
seek their views on continuing the Company in its present form
for a limited period to allow time for Gartmore's future
ownership to be resolved and the proposals outlined above to be
implemented.

                  Possible Parent Liquidation

On the basis of the strong support indicated in these
consultations, the Directors plan to manage the affairs of the
Company for a limited period.  If by Sept. 30, 2006, the
Directors have not been able to implement proposals that will:

   -- have the support of shareholders;
   
   -- substantially increase the size of the Company; and
   
   -- allow those shareholders who want to exit to do so at a
      price competitive with liquidation;
   
the Directors will put forward proposals to put the Company into
liquidation by the end of October 2006.

During this period of some six months, GHIT will continue with
its existing investment objective and policy, which are
respectively:

   -- to provide shareholders with a high level of income
      together with the potential for capital growth; and
   
   -- investment predominantly in securities of UK companies and
      fixed income securities with the majority of the portfolio
      being invested in equities.

The Directors intend to use flexible short-term borrowings of up
to 25% of net assets with a view to enhancing shareholder
returns and a new overdraft facility will be put in place to
permit this.  The Manager will also continue to use the
Company's dealing subsidiary with the objective of generating
positive absolute returns which may be distributed to the
Company as income.  As indicated above, the Directors believe
that the costs of running an investment trust of this size can
be excessive and in order to avoid this being the case for the
period to the intended fund raising or winding-up of the
Company, Gartmore has agreed to waive all management and
secretarial fees effective April 1, 2006.  The Directors will
also waive their fees for this period.

Against this background and on the basis of current asset values
the Directors have set a target gross dividend yield of 4.0%
(3.6% net) for the six months to Sept. 30.  This is equivalent
to an annual gross yield of 8% (7.2% net).  This target yield
does not constitute a forecast of profits or return from
investment in the Company and there is no guarantee of any
particular level of profits or return being achieved.

Should the Directors be able to bring forward proposals in the
next six months to continue the Company with a revised
investment objective, to raise further money, and allow those
who wish to exit to do so, it is intended that the costs of such
an exercise would be mitigated though a premium on the new money
raised and an exit charge on those shareholders disposing of
shares in line with the costs they would have expected to bear
had the Company been liquidated.  In addition, Gartmore have
confirmed to the Board that they would either contribute up to
GBP100,000 to support a cap on costs in the event of a
successful fundraising or contribute the same amount towards any
costs incurred in relation to a fundraising if such fundraising
is unsuccessful.

The decision of Gartmore's parent to put Gartmore up for sale
has, temporarily at least, meant that the Directors have not
been able to put forward proposals that would both allow the
shareholders of GHIT who want to continue in a trust managed by
Gartmore to do so and at the same time allow those who would
want to realize their investment at a level competitive with
liquidation to do so.

The Directors have consulted with major shareholders and have
received strong support for the Company continuing for some six
months with the existing investment objective and policy (and a
lower level of gearing) to allow time for suitable proposals to
be brought forward.  If proposals are not announced by the end
of September 2006, the Directors will put forward proposals to
wind up GHIT shortly thereafter.

Headquartered in London, Gartmore offers a wide range of
investment products and services, tailored to meet the varying
needs of both institutional and retail investors, and has
GBP48.4 billion assets as of Dec. 31, 2005, under management.

Gartmore has offices in the United Kingdom, USA, Germany, Spain
and Japan, with 180 highly skilled investment professionals.


GOLDEN DYNASTY: Meeting of Creditors Set March 15
-------------------------------------------------
Creditors of Golden Dynasty Restaurant Limited (Company Number
04585090) will meet on March 15, 2006, 2 p.m. at New Connaught
Rooms, Great Queen Street, London WC2B 5DA.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to G. M. Krasner, administrator of Bartfields (UK)
Limited, Burley House, 12 Clarendon Road, Leeds LS2 9NF not
later than 12 noon, March 14, 2006.

CONTACT:  BARTFIELDS (UK) LIMITED
          Burley House
          12 Clarendon Road
          Leeds
          West Yorkshire LS2 9NF
          Tel: 0113 244 9051
          Fax: 0113 234 3208
          E-mail: gerald.krasner@bartfield.co.uk


HARVEST KITCHENS: Kitchen Manufacturer Yields to Bankruptcy
-----------------------------------------------------------
Peter Maurice Levy, of Levy & Partners, was appointed liquidator
of Harvest Kitchens Limited after members decided to liquidate
the company's asset on Feb. 7, 2006.

Chairman D. Sutton informed the company is unable to continue
its business due to its mounting debts.

CONTACT:  HARVEST KITCHENS LIMITED
          Company House
          Stock Road
          Southend-On-Sea Essex
          SS2 5QF
          Tel: 01702 300 308
          Fax: 01702 602 620


JW OFFSET: Financial Woes Prod Liquidation
------------------------------------------
Members of JW Offset Limited passed a resolution to wind up the
company during an extraordinary general meeting on
Feb. 13, 2006.

Chairman I. Jones expressed that the company could no longer
continue its operations due to financial liabilities.

Richard William James Long, of Richard Long & Co, was voted
Liquidator.

CONTACT:  J W OFFSET LIMITED
          9 Mead Lane
          Merchant Drive
          Hertford Hertfordshire
          SG137BH
          Tel: 01992 534 373
          Fax: 01992 534 374


KINGSVALE HOMES: Creditors' Meeting Set Next Week
-------------------------------------------------
Creditors of Kingsvale Homes Limited (Company Number 04878447)
and Kingsvale Homes (Saintbury) Limited (Company Number 4878517)
will meet on March 14, 2006, 10 a.m. and 11:30 a.m. respectively
at KPMG LLP, 2 Cornwall Street, Birmingham B3 2DL.

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims to A. W. Graham, joint administrator of KPMG LLP, St
Nicholas House, Park Row, Nottingham NG1 6FQ not later than 12
noon, March 13, 2006.

                           About KPMG

KPMG -- http://www.kpmg.co.uk/-- in the UK is part of a strong  
global network of member firms with 9,500 partners and staff
working in 22 offices across the UK providing audit, tax and
advisory services.


LOGICAL MECHANICAL: Joint Liquidators Take Helm
-----------------------------------------------
Members of Logical Mechanical Limited resolved to liquidate the
company's assets during an extraordinary general meeting on
Feb. 7, 2006.

They authorized Kevin James Wilson Weir and Gregory Andrew, to
jointly administer the winding up process.

CONTACT:  LOGICAL MECHANICAL LIMITED
          Abbey Enterprise Centre
          Premier Way
          Romsey Hampshire
          SO519DF
          Tel: 01794 523 308


POLESTAR FLOORING: Building Specialist Liquidates Assets
--------------------------------------------------------
Tim Alexander Clunie, of S. G. Banister & Co, was appointed
Liquidator after members of Polestar Flooring & Design Limited
decided to liquidate the company's assets on Feb. 10, 2006.

Director S. D. M. Poland disclosed that the company could no
longer continue its business due to mounting debts.

CONTACT:  POLESTAR FLOORING & DESIGN LIMITED
          9 Marylands Road
          London
          W9 2DU
          Tel: 020 7266 2966
          Fax: 020 7266 2984
          Web: http://www.polestar4floors.co.uk/


RANK GROUP: Buys Back 831,246 Shares for Cancellation
-----------------------------------------------------
The Rank Group Plc purchased 831,246 Ordinary shares of 10 pence
in the Company for cancellation at an average price of 241.29
pence per share.

Headquartered in London, Rank Group plc -- http://www.rank.com/
-- is an international leisure and entertainment company.  The
Group provides services to the film industry, including film
processing, video duplication and cinema exhibition.  The
Group's leisure and entertainment activities entail gambling
services, encompassing Mecca Bingo Clubs and Grosvenor Casinos,
and owned and franchises Hard Rock cafes.

                        *     *     *

As reported in the Troubled Company-Europe yesterday, Moody's
Investors Service assigned a Ba2 corporate family rating
to The Rank Group Plc (Rank) and concurrently downgraded the
senior unsecured long-term debt ratings of Rank Group Finance
Plc (guaranteed by The Rank Group Plc) to Ba2 (from Baa3).  

The rating action is prompted by Rank's announcement that it
will distribute GBP200 million to shareholders, following the
completion of the Deluxe Film's disposal as well as by the
group's weak operating performance in 2005.  The downgrade
reflects Moody's expectation that Rank's more limited business
scope and less diversified business profile combined with its
increased leverage will result in a considerably weakened
financial profile.  The rating action concludes a review
initiated on Dec. 7 2005.

At the same time, Fitch Ratings downgraded The Rank Group PLC's
Long-term Issuer Default rating and Senior Unsecured ratings to
BB- from BB+ and removed them from Rating Watch Negative.  A
Negative Outlook is assigned.  The Short-term rating is affirmed
at B.  The downgrade follows the disposal of its film processing
business, Deluxe Film, and confirmation of a return of capital
to
shareholders announced in conjunction with its 2005 preliminary
results.

In addition, Standard & Poor's Ratings Services lowered its
long- and short-term corporate credit ratings on U.K.-based
diversified leisure and entertainment company The Rank Group PLC
to 'BB-/B' from 'BBB-/A-3'.  The outlook is stable.


RESOURCE NINE: Northern Financial Appoints Receiver
---------------------------------------------------
Northern Financial Services Ltd appointed Melvyn L. Rose of
Elliot, Woolfe & Rose administrative receivers of Resource Nine
Ltd (Company Number 03921299) on Feb. 21.

The company was formerly named Piggybank Corporation Ltd and
Resource One Ltd.

CONTACT:  ELLIOT WOOLFE & ROSE
          1st Floor
          Equity House
          128/136 High Street
          Edgware
          Middlesex HA8 7TT
          Tel: 020 8952 0707
          Fax: 020 8952 2332
          E-mail: mlr@ewr.co.uk


SCRAPBOOKHOUSE LIMITED: Appoints Begbies Traynor Administrator
--------------------------------------------------------------
G. N. Lee and D. Bailey of Begbies Traynor were appointed joint
administrators of The Scrapbookhouse Limited (Company Number
04319984) on Feb. 24.  Its registered office is at Unit 9,
Astley House, Cromwell Business Park, Chipping Norton,
Oxfordshire OX5 7SR.

                       About Begbies Traynor

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.  

                        About the Company

The Scrapbookhouse Ltd sells household goods.  Its shop is at
Unit 9 Cromwell Business Park, Chipping. Norton, Oxon OX7 5SR.  


SHINING STAR: Members Agree to Voluntary Liquidation
----------------------------------------------------
Members of Shining Star (UK) Limited passed a resolution to wind
up the company during an extraordinary general meeting on
Feb. 10, 2006.

The voluntary liquidation came as a result of the Debtor's
inability to continue its operations due to its liabilities.

John D Cullen, of Harris Lipman, was appointed Liquidator to
wind up the company's business.

CONTACT:  SHINING STAR (UK) LIMITED
          Unit 10 & 11
          Station Terrace
          Ely Brewery Workshops
          Ely Cardiff South Glamorgan
          CF5 4AR
          Tel: 029 2056 0200
          Fax: 029 2056 0300
          Web: http://www.shiningstargroup.com/


SR REALISATIONS: Appoints Tenon Recovery Administrator
------------------------------------------------------
Martin A. Shaw and Charles M. Brook of Tenon Recovery were
appointed joint administrators of international scenic theming
and fit-out specialist SR Realisations Limited (formerly Scenic
Route Limited - Company Number 02727837) on Feb. 24.

Tenon Recovery -- http://www.tenongroup.com/-- provides  
accounting and business advice to owner-managed and private
business.


STOCKPROTECT LIMITED: Closes Operations & Liquidates Assets
-----------------------------------------------------------
Stockprotect Limited is liquidating its assets after members
passed a resolution to wind up the company's operations on
Feb. 8, 2006.

Matthew Colin Bowker and David Anthony Willis, of Jacksons
Jolliffe Cork, were appointed Joint Liquidators.

CONTACT:  STOCKPROTECT LIMITED
          1 Canal Street
          Huddersfield West Yorkshire
          HD1 6NY
          Tel: 01484 423 073
          Fax: 01484 435 757
          Web: http://www.stockprotect.co.uk/


STRELLEY ENTERPRISES: Members Pass Winding Up Resolution
--------------------------------------------------------
Strelley Enterprises Limited is liquidating its assets after
members elected to wind up the company's operations during an
extraordinary general meeting held on Feb. 13, 2006.

Company Chairman H. Morton disclosed that the members found out
that the company could not continue its business due to mounting
debts.  S Wilson and D J Whitehouse, of Kroll, were appointed
Joint Liquidators.

CONTACT:  STRELLEY ENTERPRISES LIMITED
          Unit 1
          Mansfield Road
          Temple Normanton Business Park
          Corbriggs Chesterfield Derbyshire
          S41 0JS
          Tel: 01246 229 922
          Fax: 01246 297 030
          Web: http://www.strelleyenterprises.com/


URBAN DETAIL: Clothing Retailer Taps BDO Stoy as Administrator
--------------------------------------------------------------
Matthew Dunham and Toby Underwood of BDO Stoy Hayward LLP were
appointed joint administrators of Urban Detail Limited (Company
Number 05398740) on Feb. 22.  The company sells clothing.

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.


UTANCO SERVICES: Joint Administrators Lead Liquidation Process
--------------------------------------------------------------
Gareth W. Roberts and Paul W. Ellison of Hurst Morrison Thomson
were appointed joint administrators of CR LLP Utanco Services
Limited (Company Number 01546466) on Feb. 21.  

The company offers air conditioning and heating services.  Its
office is at Morlane Crossing, Tolpits Lane, Watford,
Hertfordshire WD18 9TJ.  

CONTACT:  HURST MORRISON THOMSON CORPORATE RECOVERY LLP
          5 Fairmile, Henley on Thames,
          Oxfordshire RG9 2JR
          Tel: +44 (0) 1491 579866
          Fax:   +44 (0) 1491 573397
          E-mail: hmt@hmtgroup.co.uk


                            *********                            


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter -- Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Jazel Laureno, Liv Arcipe, Julybien Atadero, and
Carmel Paderog, 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 * * *