TCREUR_Public/060317.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

             Friday, March 17, 2006, Vol. 7, No. 55

                            Headlines


G E R M A N Y

A+D GMBH: Claims Registration Ends March 31
F. L. ENTERTAINMENT: Claims Registration Ends April 3
FREIZEITPARK MOTODROM: Claims Registration Ends April 6
HGM HAMBURGER: Claims Registration Ends March 29
INFAM BIBA: Registration of Claims Ends March 22

J. GASTRO: Claims Registration Ends March 27
PTS LOGISTICS: Registration of Claims Ends March 31
SARAY PASTANESI: Claims Registration Ends March 24
TABACERIA EINZELHANDELS: Claims Registration Ends March 30
UBS SOFTWARE: Claims Registration Ends April 4


H U N G A R Y

GLOBUS HOLDING: Authorities Launch Probe on Stake Offer


I T A L Y

IMPREGILO SPA: Astaldi Mulls Possible Merger Deal
LUCCHINI S.P.A.: Moody's Assigns Ba3 Corporate Family Rating


K A Z A K H S T A N

AMIR: Pavlodar Court Opens Bankruptcy Proceedings
BRATHER: Creditors Must File Proofs of Claim by March 24
BROKER PLUS: Creditors Must File Proofs of Claim by March 20
FIRMA EVROAZIA: Pavlodar Court Opens Bankruptcy Proceedings
KADAM: Kostanai Court Opens Bankruptcy Proceedings

MO-2: Creditors Must File Proofs of Claim by March 31
TEMIR CAPITAL: Moody's Rates New Senior Notes at B1


R U S S I A

AGRO-SIB: Deadline for Proofs of Claim Set April 4
BELORECHENSK-STROY: Bankruptcy Hearing Set for June 28
BEREG: Claims Filing Period Ends April 4
BIYSKAYA: Altay Court Begins Bankruptcy Supervision Procedure
BREWERY STAVROPOLYE: Stavropol Court Begins Bankruptcy Process

CHISTYE PRUDY: Insolvency Manager Takes Over Helm
KADYJSKAYA: Claims Filing Period Ends April 4
OAO ROSNEFT: Plans to Launch $15-Billion IPO in Third Quarter
PENZENSKIY FACTORY: Bankruptcy Hearing Set for April 27
TASHTAGOLSKOYE: Bankruptcy Hearing Set for June 19

WORSTED-CLOTH COMPANY: Chita Court Begins Bankruptcy Process
YUKOS OIL: Rosneft Buys US$482 Million Debt From Bank Lenders
YUKOS OIL: Lithuania May Buy Majority Stake in Mazeikiu Nafta


U K R A I N E

ART TEKST: Kyiv Court Opens Bankruptcy Proceedings
IRSHAVA' FURNITURE: Court Names Rakushinets Insolvency Manager
LADA SERVICE: Vinnitsya Region Begins Bankruptcy Supervision
LIZERT: Kyiv Court Opens Bankruptcy Proceedings
NIKOLAOS: Mikolaiv Court Opens Bankruptcy Proceedings

SILGOSPHIMIYA: Court Appoints Bigun Roman as Liquidator
SOUTH-EASTERN RESOURSES: Lugansk Court Opens Bankruptcy Process
UKRSLAVNAFTA: Poltava Court Opens Bankruptcy Proceedings
YAKIMIVKA' STANDART: Court Names Insolvency Manager


U N I T E D   K I N G D O M

A.T.H. FABRICATIONS: Creditors Confirm Voluntary Liquidation
AMBASSADOR FOOD: Joint Liquidators Set March 31 Claims Bar Date
AQUABEAU LIMITED: Appoints Geoffrey Martin & Co. Administrator
BUS & MOTORS: Appoints Tenon Recovery Administrator
CAIRNGORM LIMITED: Fitch Affirms GBP9-Mln Class D Notes at BB

CANNOCK COURIERS: Members Agree on Voluntary Liquidation
CAR SAFETY: Creditors Have Until March 31 to Register Claims
CASWELL PARTS: Meeting of Creditors Set for March 23
CELSIUS FIRST: Appoints PwC to Administer Assets
CHEMICAL BLACKING: Creditors Have Until May 8 to Register Claims

COMPLETE MOTOR: Creditors Have Until March 31 to Register Claims
CORUS GROUP: Selling Aluminum Unit to Aleris for EUR826 Million
D.A.F. ELECTRICAL: Appoints Grant Thornton to Administer Assets
DREAM EASY: Members Agree on Voluntary Liquidation
ELANTIC LIMITED: Appoints Leonard Curtis as Administrator

EPSOM BUSINESS: Appoints Michael Sutcliffe as Liquidator
ESSENCE OF BUSINESS: Members Pass Winding Up Resolution
FOLDING SOLUTIONS: Members Pass Winding Up Resolution
GLOBE GROUP: Appoints Joint Administrators from Robson Rhodes
HPJ UK: Meeting of Creditors Set for March 20

KDG UK: Taps Geoffrey Martin to Administer Assets
KEMP STORAGE: Creditors' Meeting Set for March 20
LIVERPOOL FUEL: Appoints Begbies Traynor to Administer Assets
MAT GROUP: Appoints Administrators from KPMG
MERILAB LIMITED: Appoints Joint Administrators from Mazars

META COMPUTER: Creditors' Meeting Set for March 20
NEWGATE FUNDING: Fitch Puts BB Rating to GBP5.45MM Class Q Notes
PEAK ENTERTAINMENT: Appoints Wilson Field Administrator
RANK GROUP: Repurchases 1.4 Million Shares for Cancellation
V T TECHNOLOGY: Appoints Administrators from KPMG

* Hunton & Williams Launches Corp Recovery & Insolvency Practice

                             *********

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


A+D GMBH: Claims Registration Ends March 31
-------------------------------------------
Creditors of A+D GmbH Abdichtungen, Dachbegruenung, Terrassen
have until March 31, to register their claims with court-
appointed provisional administrator Thomas Illy.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on April 20, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hanau
         Raum E03
         Engelhardstrasse 21
         63450 Hanau

The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Hanau opened bankruptcy proceedings
against A+D GmbH Abdichtungen, Dachbegruenung, Terrassen on
Feb. 3.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         A+D GmbH Abdichtungen, Dachbegruenung, Terrassen
         Attn: Hannelore Wagner, Manager
         Rathausstr. 10
         63454 Hanau         
                 
The administrator can be contacted at:

         Thomas Illy
         Welle 5
         60322 Frankfurt/Main
         Tel: 069/9799530
         Fax: 069/97995399
         E-mail: thomas.illy@thierhoffilly.com


F. L. ENTERTAINMENT: Claims Registration Ends April 3
-----------------------------------------------------
Creditors of F. L. Entertainment GmbH have until April 3, to
register their claims with court-appointed provisional
administrator Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 a.m. on April 26, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Flensburg
         Saal A 220
         24937 Flensburg
         
The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Flensburg opened bankruptcy proceedings
against F. L. Entertainment GmbH on Feb. 16.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         F. L. Entertainment GmbH
         Grosse Strasse 87
         24937 Flensburg
         Attn: Robert Fabig, Manager
         Danische Strasse 18
         24103 Kiel

The administrator can be contacted at:

         Jan H. Wilhelm
         Albert-Einstein-Ring 11
         22761 Hamburg
         Tel: 040-89956-0


FREIZEITPARK MOTODROM: Claims Registration Ends April 6
-------------------------------------------------------
Creditors of Freizeitpark Motodrom Hoope GmbH have until
April 6, to register their claims with court-appointed
provisional administrator Jan H. Wilhelm.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on May 4, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Cuxhaven
         Saal 112
         Deichstr. 12a
         27472 Cuxhaven

The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Cuxhaven opened bankruptcy proceedings
against Freizeitpark Motodrom Hoope GmbH on Feb. 9.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Freizeitpark Motodrom Hoope GmbH
         Wulsbuettler Str. 2
         27628 Wulsbuettel
         Attn: Christian Hahn, Manager
         Elbchaussee 440
         22609 Hamburg
                 
The administrator can be contacted at:

         Jan H. Wilhelm
         Markt 1
         28195 Bremen
         Tel: 0421/178765
         Fax: 0421/1787665


HGM HAMBURGER: Claims Registration Ends March 29
------------------------------------------------
Creditors of HGM Hamburger Gartenmobelgesellschaft mbH have
until March 29, to register their claims with court-appointed
provisional administrator Herbert Duerkop.

Creditors and other interested parties are encouraged to attend
the meeting at 9:25 a.m. on April 26, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Saal B 405
         4. Etage
         Sievekingplatz 1
         20355 Hamburg
         
The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Hamburg opened bankruptcy proceedings
against HGM Hamburger Gartenmobelgesellschaft mbH on Feb. 9.
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         HGM Hamburger Gartenmobelgesellschaft mbH
         Stenzelring 23
         21107 Hamburg
         Attn: Rainer Lorenz, Manager
         Erlenweg 19
         22880 Wedel

The administrator can be contacted at:

         Herbert Duerkop
         Neuer Wall 86
         20354 Hamburg
         Tel: 040/3613070
         Fax: 040/37644625


INFAM BIBA: Registration of Claims Ends March 22
------------------------------------------------
Creditors of INFAM Biba Fashion Textilhandels GmbH have until
March 22, to register their claims with court-appointed
provisional administrator Wolfgang Hoppe.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on May 3, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt am Main
         Saal 2
         Gebaude F
         Klingerstrasse 20
         60313 Frankfurt am Main

The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Frankfurt am Main opened bankruptcy
proceedings against INFAM Biba Fashion Textilhandels GmbH on
Jan. 31.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:

         INFAM Biba Fashion Textilhandels GmbH
         Attn: Michael Schrot, Manager         
         Sudetenstrasse 33
         63920 Grossheubach
                 
The administrator can be contacted at:

         Wolfgang Hoppe
         Mergenthalerallee 45-47
         65760 Eschborn
         Tel: 06196/481969
         Fax: 06196/482494


J. GASTRO: Claims Registration Ends March 27
--------------------------------------------
Creditors of J. Gastro GmbH have until March 27, to register
their claims with court-appointed provisional administrator
Thomas Lauterfeld.

Creditors and other interested parties are encouraged to attend
the meeting at 9:20 a.m. on April 11, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Frankfurt am Main
         Saal 2
         Gebaude F
         Klingerstrasse 20
         60313 Frankfurt am Main

The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Frankfurt am Main opened bankruptcy
proceedings against J. Gastro GmbH on Feb. 16.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         J. Gastro GmbH
         Rellinghauser Str. 16
         45128 Essen
         Attn: Juergen Genser, Manager         
               Wilhelm-Anlahr-Str. 54
               47447 Moers
               Winfried Kentenich, Manager
               Franz-Liszt-Str. 78
               47239 Duisburg
                 
The administrator can be contacted at:

         Thomas Lauterfeld
         Muehlenberg 10
         45479 Muelheim/Ruhr
         Tel: 0208/591761/63
         Fax: 0208/591702


PTS LOGISTICS: Registration of Claims Ends March 31
---------------------------------------------------
Creditors of PTS Logistics Beteiligungs GmbH have until
March 31, to register their claims with court-appointed
provisional administrator Dr. Christian Frystatzki.

Creditors and other interested parties are encouraged to attend
the meeting at 10:10 a.m. on May 5, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Bonn
         Saal W126
         1. Stock
         Wilhelmstrasse 21
         53111 Bonn

The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Bonn opened bankruptcy proceedings against
PTS Logistics Beteiligungs GmbH on Feb. 9.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         PTS Logistics Beteiligungs GmbH
         Lohestr. 19
         53773 Hennef
         Attn: Marc Petersen, Manager         
         Heidgeshof 8
         53773 Hennef
         Web: http://www.pts-logistics.de/
                 
The administrator can be contacted at:

         Dr. Christian Frystatzki
         Sankt Augustiner Strasse 94 a
         53225 Bonn
         Tel: 0228/ 40 09 40
         Fax: 0228/ 40 09 479


SARAY PASTANESI: Claims Registration Ends March 24
--------------------------------------------------
Creditors of Saray Pastanesi GmbH have until March 24, to
register their claims with court-appointed provisional
administrator Karl H. Jahn.

Creditors and other interested parties are encouraged to attend
the meeting at 9:40 a.m. on April 11, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hanau
         Raum E03
         Engelhardstrasse 21
         63450 Hanau
         
The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Hanau opened bankruptcy proceedings
against Saray Pastanesi GmbH on Jan. 30.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Saray Pastanesi GmbH
         Stresemannstr. 8
         63450 Hanau
         Attn: Ibrahim Kizilay, Manager         
         Boppstr. 35
         63739 Aschaffenburg
                 
The administrator can be contacted at:

         Karl H. Jahn
         Gerichtsfach 45
         Sandeldamm 24 a
         63450 Hanau
         Tel: 916460
         Fax: 9164640


TABACERIA EINZELHANDELS: Claims Registration Ends March 30
----------------------------------------------------------
Creditors of Tabaceria Einzelhandels-GmbH have until March 30,
to register their claims with court-appointed provisional
administrator Markus Schneckener.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 a.m. on April 20, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Bielefeld
         Saal 4065
         4. Ebene
         Gerichtstrasse 6
         33602 Bielefeld
         
The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Bielefeld opened bankruptcy proceedings
against Tabaceria Einzelhandels-GmbH on Feb. 14.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Tabaceria Einzelhandels-GmbH
         Attn: Marcus Krichel, Manager         
         Furth 8
         32423 Minden
     
The administrator can be contacted at:

         Markus Schneckener
         Ruegenweg 14
         32427 Minden
         E-mail: m.schneckener@kanzlei-am-dom.de.kw


UBS SOFTWARE: Claims Registration Ends April 4
----------------------------------------------
Creditors of UBS Software-Service GmbH have until April 4, to
register their claims with court-appointed provisional
administrator Stefan Hinrichs.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 4, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Saal B 405
         4. Etage
         Sievekingplatz 1
         20355 Hamburg
         
The court will also verify the claims set out in the
administrator's report during the meeting, while creditors may
constitute a creditors committee or opt to appoint a new
insolvency manager.

The District Court of Hamburg opened bankruptcy proceedings
against UBS Software-Service GmbH on Feb. 9.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         UBS Software-Service GmbH
         Herbert-Weichmann-Strasse 24
         22085 Hamburg
         Attn: Boris Drenker, Manager
         Muessenweg 33
         21521 Dassendorf
     
The administrator can be contacted at:

         Stefan Hinrichs
         Kaiser-Wilhelm-Strasse 93
         20355 Hamburg
         Tel: 040/41004040
         Fax: 040/41004059


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

GLOBUS HOLDING: Authorities Launch Probe on Stake Offer
-------------------------------------------------------
The State Financial Supervisory Authority suspended the shares
buyout of canning group Globus Konzervipari Rt., pending the
results of a probe on the matter, Budapest Business Journal
reports.

Union Fermiere Morbihannaise and Centrale Cooperative Agricole
Bretonne's local unit, offered to acquire a 51% stake in Globus.  
The groups offered to buy the shares at HUF460 for each HUF250
face value share.

PSzAF is currently trying to find out whether there is any
irregularity since the HUF460 offer price is 31% higher than the
minimum price set by the Budapest Stock Exchange.  PSzAF
spokesman IstvAn Binder declined to comment whether the probe
also focuses on fluctuations in Globus' share price preceding
the bid.  Mr. Binder noted that a probe that not automatically
mean PszAF have found something wrong.  PszAF has 90 days to
complete the investigation.

Globus' majority owners, DEG of Germany (25.45%), Chairman
Istv n Temesfoi (16.67%), Tebimpex GmbH (11.61%) and Deputy
Chairman Jozsef Jehn (3.62%) signed the acquisition offer.

Headquartered in Budapest, Hungary, Globus Konzervipari Rt. --
http://www.globus.hu/-- is the largest canning and cooling  
company in the country.  Globus posted HUF4.3 billion in net
losses in 2005, HUF2 billion of which were operating losses.  
The group also registered -HUF2.9 billion in one-time effect.  
Globus blames its dismal performance to rising fuel prices,
entry of new market rivals and the strong Forint.  


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


IMPREGILO SPA: Astaldi Mulls Possible Merger Deal
-------------------------------------------------
Astaldi S.p.A. is mulling a possible merger with larger
construction rival Impregilo S.p.A., Il Sole 24 Ore says.

According to the report, Astaldi executive deputy chairman
Vittorio Di Paola revealed Wednesday that the group is persuaded
by the fact that "Impregilo shareholders have clearly said it
would be a good thing."

Meanwhile, Impregilo board member Piergiorgio Romiti, in an
interview with the same daily, said that, "mergers in the
construction sector are a duty."

Mr. Romiti, however, said that while "all possibilities should
be taken into consideration," the parties have yet to enter into
official talks."

Impregilo and Astaldi, in separate statements, recently rejected
reports that both companies are in preliminary merger talks.  A
merger would create a larger company with EUR4 billion in sales.  
In March 2005, Astaldi withdrew its bid to acquire a majority
stake in Impregilo.  

Headquartered in Milan, Italy Impregilo S.p.A. --
http://www.impregilo.it/-- is a leading engineering group in  
Italy that has existed since 1906.  It generates more than
EUR2.96 billion in annual revenue and employs more than 11,703
people.  As of December 2004, group net result and net financial
position stood at -EUR1.76 billion and -EUR499 million
respectively.

Impregilo is optimistic it could achieve its profit forecast and
debt-to-equity ratio of 0.5 in 2007.  In September, the board
approved a EUR345 million provision to meet consolidated loss of
EUR328.5 million.  Corporate restructuring specialist Lazard
Freres & Co. LLC is advising Impregilo.


LUCCHINI S.P.A.: Moody's Assigns Ba3 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service has assigned a corporate family rating
of Ba3 to the Italian steel producer Lucchini S.p.A.  This is
the first time that Moody's has rated this company.  The outlook
for the rating is stable.

The corporate family rating is an opinion of an issuer's ability
to honor its financial obligations as if it had a single class
of debt and a single consolidated capital structure.

The Ba3 Corporate Family Rating reflects:

   -- Lucchini's established position in the European steel
      market, in particular with respect to higher value-added
      long steel products, notably for the rail sector and wire
      rod;

   -- the company's improving geographic focus, including
      product supplies to North American and Russian markets, as
      well as its existing broad customer base;

   -- the recent EUR450 million re-capitalization which
      substantially improved the capital structure and restored
      credit metrics to more comfortable levels;

   -- the continued good industry environment which has further
      contributed to Lucchini's restored profitability after a
      period of losses;

   -- well invested asset base providing flexibility for capital
      expenditure going forward;

   -- strategic location of core assets close to good logistics,
      including access to two industrial sea ports; and

   -- a committed and resourceful majority shareholder, Russian
      Severstal Group.

The Ba3 Corporate Family Rating also takes into account:

   -- the cyclical nature of the steel industry and the
      sensitivity of financial results to rising raw material
      prices;

   -- Lucchini's modest market strength in steel sectors, except
      in the production of rails and wire rod;

   -- high exposure to fluctuations in iron ore and coal prices
      as well as being exposed to the vulnerabilities associated
      with securing long term raw material supplies;

   -- the company's reliance on various forms of short term
      banking lines, which are, however, demonstrated to be
      continuously renewed;

   -- the need to achieve efficient integration between
      Severstal Group and Lucchini businesses to ensure that
      operational synergies are realized; and

   -- concentration of ultimate control with one individual
      holding majority control over the company via its parent
      Severstal Group.

Despite good prospects for improved profitability and cash
flows, Lucchini's historical performance has been weak.  During
2001-2003, the company was unable to efficiently manage a number
of large investments, which severely impaired the overall
financial position and liquidity profile.  Simultaneously the
overall sector experienced a weak operating and price
environment.  Moreover, although, current improved debt metrics
are underpinned by sound operating performance, the
recapitalized business has yet to experience stress in a
downside scenario.

The company is well positioned within its rating category and
Moody's stable outlook reflects the expectation that Lucchini's
cash flow profile would, in a downturn, evidence better
resilience pending the company's future raw material
arrangements and sales contracts related to the wider Severstal
Group as well as the efficiency gains being derived from the
implementation of a broader business strategy.

A rating upgrade could be prompted if:

   -- the implementation of business strategy proves successful
      and leads to less volatile results over time supporting
      free cash flow generation, or

   -- the company's sourcing of raw materials will improve going
      forward based on expected future contractual arrangements.

A downgrade of the rating would be considered in the event that
the company substantially increased its indebtedness such that,
coupled with lower cash flows, its cash flow-to-debt metrics
deteriorated below 3%.

Lucchini is Italy's second and Europe's 12th largest steelmaker,
with a 2005 output of 3.2 mt and has a production capacity of 4
mt p.a.  The company is a leading European producer of special
quality steel long products.  For the year ending 31 December
2004, the company's revenues and EBITDA of EUR 2,351 million and
EUR 246 million, respectively, while in the first 6 months 2005,
Lucchini generated revenues of EUR 1,372 million and EBITDA of
EUR 189 million.


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


AMIR: Pavlodar Court Opens Bankruptcy Proceedings
-------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar Region
has commenced a civil case against LLP Amir on Jan. 23, to
declare the group bankrupt.


BRATHER: Creditors Must File Proofs of Claim by March 24
--------------------------------------------------------
LLP Brather has declared insolvency.  Creditors have March 24
until to submit their written proofs of claim to:

          Brather
          Auezova Str. 142
          Bolshaya Vladimirovka
          Beksaragaiskei district
          East Kazakhstan Region


BROKER PLUS: Creditors Must File Proofs of Claim by March 20
------------------------------------------------------------
Kyzylorda Branch of the LLP Broker Plus has declared insolvency.  
Creditors have until March 20 to submit their written proofs of
claim to:

          LLP Broker Plus
          Suinbayeva Ave.  16-32
          Almaty


FIRMA EVROAZIA: Pavlodar Court Opens Bankruptcy Proceedings
-----------------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar has
commenced has commenced a civil case against LLP Firma Evroazia
on Jan. 23, to declare the group bankrupt.


KADAM: Kostanai Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Kostanai Region
has commenced bankruptcy proceedings against LLP Kadam on
Jan. 17, 2006.

CONTACT:  The Specialized Inter-Regional
          Economic Court of Kostanai Region
          Baitursynova Str. 70
          Kostanai


MO-2: Creditors Must File Proofs of Claim by March 31
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of Aktube Region
has declared LLP MO-2 bankrupt.  

Creditors have until March 31 to submit their written proofs of
claim to:

          MO-2
          Altynsarina Str. 31
          Aktube


TEMIR CAPITAL: Moody's Rates New Senior Notes at B1
---------------------------------------------------
Moody's Investors Service has assigned a rating of B1 to the
Senior Notes to be issued by a Dutch-based funding vehicle Temir
Capital B.V., unconditionally and irrevocably guaranteed by
Temirbank (Kazakhstan).  The amount of the notes has yet to be
determined, but their tenor will not exceed three years.  The
outlook for the rating is stable.

Moody's notes that the B1 rating assigned to Temir Capital is
based on the fundamental credit quality of the guarantor,
Temirbank (Kazakhstan) rated B1/NP/E+ (stable), which does not
factor any support from the bank's shareholders and Kazakh
financial authorities.  The bank's obligations under the
guarantee will rank at least pari passu in right of payment with
all other present and future unsecured obligations -- as may be
preferred by mandatory provisions of applicable law of general
application.

According to the terms and conditions of the notes, Temirbank
must maintain on a consolidated basis (reported under IFRS)
capital adequacy ratio of at least 10 % as well as comply with a
number of other covenants such as negative pledge, limitations
on mergers and consolidation, and restrictions on distribution
of dividends.  The rating agency notes that, while the
likelihood of any of the above-mentioned covenants being
triggered is relatively low, any such occurrence could
potentially have adverse liquidity implications for the bank and
might exert additional downward pressure on its ratings.

Headquartered in Almaty, Kazakhstan, Temirbank reported total
consolidated assets of US$487.4 million -- in accordance with
IFRS -- as at Nov. 30, 2005.  


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


AGRO-SIB: Deadline for Proofs of Claim Set April 4
--------------------------------------------------
Creditors of Agro-Sib have until April 4, 2006, to submit proofs
of claims to:

   (a) Krasnyj Pr. 184
       Novosibirsk Region
       630049, Russia

   (b) A. Rusanov
       Insolvency Manager
       Kostycheva Str. 40/2
       Post User Box 210
       Novosibirsk Region
       630077, Russia

The Arbitration Court of Novosibirsk Region commenced bankruptcy
proceedings against Agro-Sib after finding the open joint stock
company insolvent.  The case is docketed as A45-7455/05-4/72.

Mr. A. Rusanov has been appointed insolvency manager.


BELORECHENSK-STROY: Bankruptcy Hearing Set for June 28
------------------------------------------------------
The Arbitration Court of Krasnodar Region will convene on
June 28, to hear the bankruptcy supervision procedure on
Belorechensk-Story OJSC.  The case is docketed as A-32-
66404/2005-38/671-B.

Mr. L. Lavrinenko has been appointed temporary insolvency
manager and can be reached at:

         Belorechensk, Lenina Str. 64/1
         Krasnodar Region
         Russia


BEREG: Claims Filing Period Ends April 4
----------------------------------------
Creditors of Bereg (TIN 7722138522, KPP 77220100) have until
April 4, to submit their proofs of claim to:

     (a) Bereg
         Leblyanskaya Str. 5, Building 4
         Moscow Region
         109518, Russia

     (b) E. Kondratsikovskiy
         Insolvency Manager
         Sovetskaya Str. 33, Apartment 19
         Saransk Region
         430000, Russia

     (c) Arbitration Court of Moscow
         N. Basmannaya Str. 10
         Moscow Region
         107802, Russia

The Arbitration Court of Moscow Region commenced bankruptcy
proceedings against Bereg (TIN 7722138522, KPP 77220100) after
finding the close joint stock company insolvent.  The case is
docketed as A40-75688/05-78-218 B.

Mr. E. Kondratsikovskiy has been appointed insolvency manager.


BIYSKAYA: Altay Court Begins Bankruptcy Supervision Procedure
-------------------------------------------------------------
The Arbitration Court of Altay Region will convene on June 21,
to hear the bankruptcy supervision on open joint stock company
Biyskaya.  The case is docketed as A03-22132/05-B.

Ms. L. Prikhodko has been appointed temporary insolvency manager
and can be reached at:

         Barnaul
         Post User Box 3077
         Altay Region
         656015, Russia


BREWERY STAVROPOLYE: Stavropol Court Begins Bankruptcy Process
--------------------------------------------------------------
The Arbitration Court of Stavropol Region commenced bankruptcy
proceedings against Brewery Stavropolye (TIN 2623015760) after
finding the limited liability company insolvent.  The case is
docketed as A63-2405/2005-S5.

The Debtor can be reached at:

         Zavodskaya Str. 11
         Stavropol Region
         355000, Russia

Mr. A. Khalizov has been appointed temporary insolvency manager
and can be reached at:

         Lenina Str. 120, Apartment 4
         Stavropol Region
         355012, Russia


CHISTYE PRUDY: Insolvency Manager Takes Over Helm
-------------------------------------------------
The Arbitration Court of Novosibirsk Region appointed V. Makarov
as temporary insolvency manager for Chistye Prudy.

The Court commenced bankruptcy proceedings against the open
joint stock company after finding it insolvent.  The case is
docketed as A45-29417/05-4/364.  

The Debtor can be reached at:

         Zavyalovo, Tsentralnaya Str. 10
         Novosibirsk Region
         Toguchinskiy Region
         633478, Russia

The temporary insolvency manager can be reached at:

         Krasnoobsk, Post User Box 325
         Novosibirsk Region
         630501, Russia


KADYJSKAYA: Claims Filing Period Ends April 4
---------------------------------------------
Creditors of Kadyjskaya have until April 4, to submit their
proofs of claims to:

     (a) Kadyjskaya
         Kadyj, Novovselskaya Str. 34
         Russia, Kostroma Region

     (b) M. Sorokin
         Insolvency Manager
         M. Ekaterininskaya Str. 17/21
         Moscow Region
         129110, Russia

The Arbitration Court of Kostroma Region commenced bankruptcy
proceedings against Kadyjskaya after finding the close joint
stock company insolvent.  The case is docketed as A31-5503/
2005-18.

Mr. M. Sorokin has been appointed insolvency manager.


OAO ROSNEFT: Plans to Launch $15-Billion IPO in Third Quarter
-------------------------------------------------------------
Russia's state-owned oil company, OAO Rosneft, hopes to raise
US$15 billion from what could be the world's biggest initial
public offering in October.

The planned IPO may be carried out in stages or all at once,
Bloomberg News cited Economy Minister German Gref.  "There are
some technical difficulties and we are now working to solve
them," he said.

Rosneft intends to consolidate OAO Yuganskneftegaz, once Yukos's
biggest production unit, possibly before the IPO.  Russia, which
owns 100% of Rosneft through Rosneftegaz, plans to retain at
least a majority stake in the Company.

Rosneft is preparing to recruit American investment banker Peter
O'Brien, as a senior executive to head the initial public
offering.

Mr. O'Brien, Morgan Stanley vice president in Moscow in charge
of energy projects in the former Soviet Union, is in talks with
Rosneft about the position, Bloomberg cited the Vedomosti
newspaper.

The move comes a month after Rosneft's Sergei Alexeev
relinquished his post as the Company's chief financial officer.  

The approach also comes less than three months after Russian
President Vladimir Putin offered the role of Rosneft chairman to
Donald Evans, the former US commerce secretary, which Mr. Evans
declined citing other commitments, Neil Buckley in Moscow and
Arkady Ostrovsky write for the Financial Times.

Headquartered in Moscow, OAO Rosneft -- http://www.rosneft.ru/
-- produces and markets petroleum products.  The Company
explores for, extracts, refines and markets oil and natural gas.  
Rosneft produces oil in Western Siberia, Sakhalin, the North
Caucasus and the Arctic regions of Russia.

                        *     *     *

Standard & Poor's assigned B+ ratings to Rosneft's long-term and
local foreign issuer credit, while Fitch assigned BB+ ratings to
the Company's foreign currency and local currency long-term debt
in 2005.


PENZENSKIY FACTORY: Bankruptcy Hearing Set for April 27
-------------------------------------------------------
The Arbitration Court of Penza Region will convene on April 27,
at 3:00 p.m., to hear the bankruptcy supervision procedure on
open joint stock company Penzenskiy Factory.  The case is
docketed as A49-12883/2005-227b/10.

Mr. A. Felinskiy has been appointed temporary insolvency manager
and can be reached at:

         Okruzhnaya Str. 3
         Penza Region
         440031, Russia


TASHTAGOLSKOYE: Bankruptcy Hearing Set for June 19
--------------------------------------------------
The Arbitration Court of Kemerovo Region will convene on
June 19, to hear the bankruptcy supervision on limited liability
company Tashtagolskoye.  The case is docketed as A27-42234/
2005-4.

Mr. S. Bychkov has been appointed temporary insolvency manager
and can be reached at:

         Novokuznetsk, Post User Box 7/25
         Kemerovo Region
         654007, Russia


WORSTED-CLOTH COMPANY: Chita Court Begins Bankruptcy Process
------------------------------------------------------------
The Arbitration Court of Chita Region has commenced bankruptcy
supervision on open joint stock company Worsted-Cloth Company
(TIN 7537009498).  The case is docketed as #A-78-13165/
2005-B-99.

Mr. S. Filippov has been appointed temporary insolvency manager.

A hearing will take place at 2:30 p.m., June 14, 2006.

The Debtor can be reached at:

         Kosmonavtov Str. 1
         Chita Region
         672030, Russia

The insolvency manager can be reached at:

         9th January Str. 37, Office 212
         Chita Region
         Russia


YUKOS OIL: Rosneft Buys US$482 Million Debt From Bank Lenders
-------------------------------------------------------------
A consortium of 14 foreign bank lenders sold the remainder of a
US$1 billion loan owed by Yukos Oil Company to the Russian
Federation state-owned oil company, Rosneft.

Moscow-based Rosneft acquired US$482 million of Yukos' debts
from the bank syndicate, which comprised of Societe Generale,
Citigroup Inc., Commerzbank, Credit Lyonnais, Deutsche Bank,
HSBC and ING, among others.  

"It appears, from information secured today by Yukos Oil Company
that the agreement between the banks and Rosneft was undertaken
on Dec. 13, 2005," Yukos said Wednesday in an emailed statement.

According to reports, the debt buyout sparked speculation that
Rosneft, which took over Yukos' biggest oil fields in December
2004, is poised to take over what's left of Yukos' foreign
assets, including its Mazeikiu refinery.  

"Rosneft is using the cover of the Kremlin to try and seize the
maximum amount of assets," Yukos' former first vice president,
Alexander Temerko told The Moscow Times.  "If there is no
announcement on the winner of Mazeikiu, it can file to freeze
[the refinery]."

Through its ownership of OAO Yuganskneftegaz, Rosneft already
held the guarantee for the US$1 billion loan, Catherine Belton
of The Moscow Times reveals.

The banks asked the Moscow Arbitration Court on March 10 to
declare Yukos bankrupt in an attempt to recover the remainder of
the US$1 billion debt under outstanding loan agreements.  The
Court will convene on March 28 to hear the involuntary
bankruptcy petition.

Headquartered in Moscow, Russia, Yukos Oil Company --
http://yukos.com/-- is an open joint stock company existing  
under the laws of the Russian Federation.  Yukos is involved in
the energy industry substantially through its ownership of its
various subsidiaries, which own or are otherwise entitled to
enjoy certain rights to oil and gas production, refining and
marketing assets.

The Company filed for Chapter 11 protection Dec. 14, 2004
(Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed
on Feb. 24, 2005, by the Hon. Letitia Z. Clark.  A few days
after, its main production unit Yugansk, was sold by the
government to a little-known firm Baikalfinansgroup for US$9.35
billion, as payment for US$27.5 billion in tax arrears for 2000-
2003.  Yugansk eventually was bought by state-owned Rosneft,
which is now claiming more than US$12 billion from Yukos.


YUKOS OIL: Lithuania May Buy Majority Stake in Mazeikiu Nafta
-------------------------------------------------------------
The Lithuanian government offered to buy a majority stake in
Mazeikiu Nafta AB from OAO Yukos Oil Co., Lucian Kim and Milda
Seputyte write for Bloomberg News.

Economy Ministry spokeswoman in Vilnius, Orijana Jakimauskiene,
told Bloomberg that the government is in exclusive talks with
Yukos over the purchase of the oil refinery in Butinge, which is
estimated to be worth up to US$1 billion.  Lithuanian daily
Lietuvos Rytas disclosed that the state may pay US$1.4 billion
for the 54% stake.

"Is Yukos going to get anything out of it?  Not a sausage,"
Chris Weafer, chief strategist for Moscow-based Alfa Bank, told
Bloomberg.  "It's the safest option for Lithuania.  They'll
continue to depend on Russia for oil in the future."

According to the report, other parties that have made offers to
Yukos include:

   -- Poland's PKN Orlen SA;
   -- Kazakhstan's state-owned oil company KazMunaiGaz;
   -- BP Plc's Russian venture TNK-BP; and
   -- Russia's OAO Lukoil in cooperation with U.S.
      ConocoPhillips.

Yukos is facing bankruptcy proceedings in Russia after a
consortium of 14 bank lenders filed on March 10 an involuntary
bankruptcy petition in the Moscow Arbitration Court.  The bank
syndicate, which includes Societe Generale, Citibank,
Commerzbank, Credit Lyonnais, Deutsche Bank, HSBC and ING, are
seeking to recover US$482 million as repayment of the remainder
of a $1 billion syndicated loan that Yukos secured in September
2003.  The group reportedly sold the debt to state-owned oil
company Rosneft in December 2005.

Headquartered in Moscow, Russia, Yukos Oil Company --
http://yukos.com/-- is an open joint stock company existing  
under the laws of the Russian Federation.  Yukos is involved in
the energy industry substantially through its ownership of its
various subsidiaries, which own or are otherwise entitled to
enjoy certain rights to oil and gas production, refining and
marketing assets.

The Company filed for Chapter 11 protection Dec. 14, 2004
(Bankr. S.D. Tex. Case No. 04-47742), but the case was dismissed
on Feb. 24, 2005, by the Hon. Letitia Z. Clark.  A few days
after, its main production unit Yugansk, was sold by the
government to a little-known firm Baikalfinansgroup for US$9.35
billion, as payment for US$27.5 billion in tax arrears for 2000-
2003.  Yugansk eventually was bought by state-owned Rosneft,
which is now claiming more than US$12 billion from Yukos.


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


ART TEKST: Kyiv Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC Art Tekst (code EDRPOU 31779508) on
Jan. 27, after finding the company insolvent.  The case is
docketed as 43/11.  

Mr. Letskan Vyacheslav has been appointed liquidator/insolvency
manager.

CONTACT:  Art Tekst
          Zhmerinska Str. 24-a
          03148, Kyiv Region, Ukraine

          Mr. Letskan Vyacheslav
          Liquidator/Insolvency Manager
          Dovzhenko Str. 16-v/42
          03057, Kyiv Region, Ukraine

          Economic Court of Kyiv Region
          B. Hmelnitskij Boulevard 44-B
          01030, Kyiv Region, Ukraine


IRSHAVA' FURNITURE: Court Names Rakushinets Insolvency Manager
--------------------------------------------------------------
The Economic Court of Zakarpatska Region appointed Andrij
Rakushinets as temporary insolvency manager for CJSC Irshava'
Furniture Factory (code EDRPOU 05516033).

The Court commenced bankruptcy supervision procedure on the
close joint stock company on Jan. 3, 2006.  The case is docketed
as 6/1.  

CONTACT:  CJSC Irshava' Furniture Factory
          Irshava, Fedorov Str. 20
          90100, Zakarpatska Region, Ukraine

          Mr. Andrij Rakushinets
          Temporary Insolvency Manager
          Uzhgorod, Bogomoltsya Str. 12/59
          Zakarpatska Region, Ukraine

          Economic Court of Zakarpatska Region
          Uzhgorod, Kotsubinski Str.2a
          88000, Zakarpatska Region, Ukraine


LADA SERVICE: Vinnitsya Region Begins Bankruptcy Supervision
------------------------------------------------------------
The Economic Court of Vinnitsya Region commenced bankruptcy
supervision procedure on CJSC Lada Service (code EDRPOU
05795197) on Jan. 3.  The case is docketed as 10/1-06.  

Mr. Bolhovitin Vitalij has been appointed temporary insolvency
manager.

CONTACT:  Lada Service
          Mechnikov Str. 4
          21100, Vinnitsya Region, Ukraine

          Mr. Bolhovitin Vitalij
          Temporary Insolvency Manager
          Hmelnitske Shose 2a/602
          21036, Vinnitsya Region, Ukraine
          Phone: 8 (0432) 52-03-41

          Economic Court of Vinnitsya Region
          Hmelnitske Shose 7
          21036, Vinnitsya Region, Ukraine


LIZERT: Kyiv Court Opens Bankruptcy Proceedings
-----------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC LIZERT (code EDRPOU 33240028) on
Jan. 27, after finding the company insolvent.  The case is
docketed as 43/10.

Mr. Letskan Vyacheslav has been appointed liquidator/insolvency
manager.

CONTACT:  Lizert
          Kotovskij Str. 11
          04060, Kyiv Region, Ukraine

          Mr. Letskan Vyacheslav
          Liquidator/Insolvency Manager
          Dovzhenko Str. 16-v/42
          03057, Kyiv Region, Ukraine

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


NIKOLAOS: Mikolaiv Court Opens Bankruptcy Proceedings
-----------------------------------------------------
The Economic Court of Mikolaiv Region commenced bankruptcy
proceedings against LLC Nikolaos (code EDRPOU 33188534) on
Jan. 24, after finding the company insolvent.  The case is
docketed as 5/343/05.

Mr. Tsurika Mihajlo has been appointed liquidator/insolvency
manager.

CONTACT:  Economic Court of Mikolaiv Region
          Admiralska Str. 22
          54009, Mikolaiv Region, Ukraine


SILGOSPHIMIYA: Court Appoints Bigun Roman as Liquidator
-------------------------------------------------------
The Economic Court of Ivano-Frankivsk Region appointed Bigun
Roman liquidator/insolvency manager of OJSC Silgosphimiya (code
EDRPOU 05489112).

The Court commenced bankruptcy proceedings against the company
on Nov. 21, 2005, after finding the company insolvent.  The case
is docketed as B-7/198.

CONTACT:  Silgosphimiya
          Rogatin, I. Muha Str. 2
          7700, Ivano-Frankivsk Region, Ukraine

          Mr. Bigun Roman
          Liquidator/Insolvency Manager
          Mikolajchuk Str. 17A/44
          76006, Ivano-Frankivsk Region, Ukraine

          Economic Court of Ivano-Frankivsk Region
          Shevchenko Str. 16a
          76000, Ivano-Frankivsk Region, Ukraine


SOUTH-EASTERN RESOURSES: Lugansk Court Opens Bankruptcy Process
---------------------------------------------------------------
The Economic Court of Lugansk Region commenced bankruptcy
supervision procedure on LLC SOUTH-EASTERN RESOURSES (code
EDRPOU 20168368) on January 17, 2006 and ordered a moratorium on
satisfaction of creditors' claims.  The case is docketed as
21/123 b.  

Ms. Nataliya Ivanova has been appointed temporary insolvency
manager.

CONTACT:  South-Eastern Resourses
          Krasnodon, Malometrazhna Str. 3
          Lugansk Region, Ukraine

          Ms. Nataliya Ivanova,
          Temporary Insolvency Manager
          Klubna Str. 55/3
          Lugansk Region, Ukraine
          Tel: 8 (0642) 42-03-09

          Economic Court of Lugansk Region
          Geroiv VVV Square 3a 91000,
          Lugansk Region, Ukraine


UKRSLAVNAFTA: Poltava Court Opens Bankruptcy Proceedings
--------------------------------------------------------
The Economic Court of Poltava Region commenced bankruptcy
proceedings against CJSC Ukrslavnafta (code EDRPOU 31574490) on
Jan. 24, after finding the company insolvent.  The case is
docketed as 7/11.

Mr. Oleksandr Tereshenko has been appointed
liquidator/insolvency manager.

CONTACT:  Ukrslavnafta
          Kremenchuk, Svishtovska Str. 11
          39610, Poltava Region, Ukraine

          Mr. Oleksandr Tereshenko
          Liquidator/Insolvency Manager
          Nezalezhnosti Square 1-B, Room 11
          Poltava Region, Ukraine
          Phone: (0532) 50-80-67

          Economic Court of Poltava Region
          Zigina Str. 1
          36000, Poltava Region, Ukraine


YAKIMIVKA' STANDART: Court Names Insolvency Manager
--------------------------------------------------------------
The Economic Court of Zaporizhya Region appointed Sergij Bagmet
as liquidator/insolvency manager for OJSC Yakimivka' Foundry-
Mechanical Plant Standart (code EDRPOU 03327718).

The Court commenced bankruptcy proceedings against the open
joint stock company after finding it insolvent.  The case is
docketed as 25/146.  

CONTACT:  OJSC Yakimivka' Foundry-Mechanical Plant Standart
          Yakimivka, Zavodska Str. 1
          72500, Zaporizhya Region, Ukraine

          Mr. Sergij Bagmet
          Liquidator/Insolvency Manager
          69104, Zaporizhya Region, Ukraine a/b 1064
          Phone: (0612) 17-33-40, 17-66-17

          Economic Court of Zaporizhya Region
          Shaumyana Str. 4
          69001, Zaporizhya Region, Ukraine


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


A.T.H. FABRICATIONS: Creditors Confirm Voluntary Liquidation
------------------------------------------------------------
Creditors of A.T.H. Fabrications Ltd confirmed the company's
voluntary liquidation after members passed a resolution to wind
up the company's operations on Feb. 7.

Creditors ratified the appointment of Alex Kachani of Crawfords,
as Liquidator.

A.T.H. Fabrications Ltd can be reached at:

         Unit 1
         68 Northfield Road
         Dudley West Midlands
         DY2 9JQ
         Tel: 01384 240 325
         Fax: 01384 240 325


AMBASSADOR FOOD: Joint Liquidators Set March 31 Claims Bar Date
---------------------------------------------------------------
Members of Ambassador Food Services Limited resolved to
liquidate the company's assets during an extraordinary general
meeting on Feb. 15.

Appointed Joint Liquidators, Kenneth Stephen Chalk and Simon
Robert Haskew, required creditors to send in their full names,
addresses and descriptions, full particulars of debts or claims,
and the names and addresses of Solicitors (if any) on or before,
March 31.

Ambassador Food Services Limited can be contacted at:

         29 Watleys End Road
         Winterbourne Bristol
         BS361PH
         Tel: 01454 854 749


AQUABEAU LIMITED: Appoints Geoffrey Martin & Co. Administrator
--------------------------------------------------------------
John Twizell and Geoffrey Martin of Geoffrey Martin & Co were
appointed joint administrators of Aquabeau Limited (Company
Number 01532787) on Feb. 28.

The joint administrators can be reached at:

        Geoffrey Martin & Co.
        St. James's House
        28 Park Place
        Leeds
        West Yorkshire LS1 2SP
        Tel: 0113 244 5141
        Fax: 0113 242 3851
        E-mail: geoffrey.martin@geoffreymartin.co.uk

Aquabeau Limited -- http://www.aquabeau.com/-- specializes in  
the design and manufacture of high quality baths and bathing
accessories.


BUS & MOTORS: Appoints Tenon Recovery Administrator
---------------------------------------------------
Richard A. B. Saville and Peter A. Blair of Begbies Traynor were
appointed joint administrators of Bus & Motors Commercial
Limited (Company Number 04234641) on Feb. 24.  

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.  

Bus & Motors Commercial Limited sells motor vehicles and can be
reached at:

        26 Redwood Glade,
        Leighton Buzzard, Bedfordshire LU7 3JT
        Tel: 01525-854451   


CAIRNGORM LIMITED: Fitch Affirms GBP9-Mln Class D Notes at BB
-------------------------------------------------------------
Fitch Ratings affirmed Cairngorm Limited's GBP56.4 million notes
as follows:

  a) GBP28,100,000 Class A at AAA;
  b) GBP9,800,000 Class B at A;
  c) GBP9,500,000 Class C at BBB; and
  d) GBP9,000,000 Class D at BB.

The transaction constitutes a synthetic securitization of senior
and mezzanine leveraged loans originated in the UK, France and
Germany.

This deal has remained stable.  There have been no defaults and
the credit quality of the underlying loans, at a Fitch factor of
55.53, has declined only marginally since closing in 2001 when
it was 54.05.  This migration is not sufficient to merit a
downgrade.  

The current portfolio is well inside the worst case Fitch factor
of 58 and is in accordance with all other portfolio covenants.  
Of the current notional balance outstanding 1.87% is rated CCC
with no names seen as close to default or further downgrade.

All Classes of credit-linked notes are backed by a cash deposit
or AAA-rated sterling denominated government bonds and by a
credit default swap between the Cairngorm and The Royal Bank of
Scotland PLC, in which the issuer receives a premium from the
swap counterparty in exchange for writing loss protection on the
reference portfolio.

Cairngorm, a special purpose vehicle incorporated with limited
liability in Jersey, issued GBP87 million of various class
notes.  The notes assumed the economic risk of the total
reference portfolio of a maximum of GBP300 million as of full
ramp-up, 12 months after the closing date in December 2001.

Substitution, replacement or addition of reference entities is
allowed, in accordance with certain criteria, for five years
after closing.


CANNOCK COURIERS: Members Agree on Voluntary Liquidation
--------------------------------------------------------
Cannock Couriers Limited is liquidating its assets after members
found out that the company could not continue its business due
to mounting debts.

Nigel Price and Mark Elijah Thomas Bowen, both of Moore Stephens
LLP, were appointed Joint Liquidators.

Cannock Couriers Limited can be contacted at:
         
         Unit 18 Longford Ind Est
         Longford Road
         Cannock Staffordshire
         WS110DG
         Tel: 01543 570 030
         Fax: 01543 572 003


CAR SAFETY: Creditors Have Until March 31 to Register Claims
------------------------------------------------------------
Creditors of Car Safety Products Limited have until March 31, to
send in their full names, addresses and descriptions, full
particulars of debt or claims, and the names and addresses of
Solicitors (if any) to appointed Joint Liquidators, Matthew
Colin Bowker and David Antony Willis.

Car Safety Products Limited can be contacted at:
         
         17 Marina Court
         Castle Street
         Hull
         HU1 1TJ
         Tel: 01482 606 655


CASWELL PARTS: Meeting of Creditors Set for March 23
----------------------------------------------------
Creditors of Caswell Parts Centre-A Partnership will meet at
11 a.m., on March 23 at:

         Wilkins Kennedy
         Bridge House, London Bridge,
         London SE1 9QR

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims by 12 p.m., on March 22, to the Joint
Administrators:

         Simon James Underwood
         Colin George Wiseman
         Wilkins Kennedy
         Bridge House,
         London Bridge,
         London SE1 9QR
         Tel: 020 7403 1877
         Fax: 020 7403 1605
         E-mail: colin.wiseman@wilkinskennedy.com  


CELSIUS FIRST: Appoints PwC to Administer Assets
------------------------------------------------
Stephen Mark Oldfield and David Christian Chubb of
PricewaterhouseCoopers were appointed joint administrators of
Celsius First Holdings Limited (Company Number 04961867) and
Celsius First Limited (Company Number 00693558) on March 2.  Its
registered office is at Scania House, Amwell Street, Hoddesdon,
Hertfordshire EN11 8TT.

PricewaterhouseCoopers LLP -- http://www.pwcglobal.com/--  
provides, among others, auditing services, accounting advice,
tax compliance and consulting, financial consulting and advisory
services to clients in a variety of industries.  

Celsius First Holdings Limited -- http://www.celsiusfirst.com/
-- operates with 30% market share of the U.K. frozen food
primary distribution business and has a proven track record for
delivering innovative and cost effective logistics solutions on
behalf of some of the U.K. and Eire's leading food
manufacturers.  The company also supports regional food
manufacturers and providers through each of its 6 temperature
controlled storage facilities strategically located throughout
the U.K.


CHEMICAL BLACKING: Creditors Have Until May 8 to Register Claims
----------------------------------------------------------------
Members of Chemical Blacking Limited decided to liquidate the
company's assets during an extraordinary general meeting on
Feb. 8.

Appointed Joint Liquidator, Daniel Paul Hennessy, required
creditors to send in their full names, addresses and
descriptions, full particulars of debts or claims, and the names
and addresses of Solicitors (if any) on or before, May 8.

Chemical Blacking Limited can be reached at:
         
         1/11 Grantham Street
         Blackburn Lancashire
         BB2 4BZ
         Tel: 01254 583 086
         Fax: 01254 583 086


COMPLETE MOTOR: Creditors Have Until March 31 to Register Claims
----------------------------------------------------------------
Creditors of Complete Motor Services Limited have until
March 31, to send in their full names, addresses and
descriptions, full particulars of debt or claims, and the names
and addresses of Solicitors (if any) to appointed Joint
Liquidator, Ronald Stanley Harding.

Complete Motor Services Limited can be contacted at:         

         Kempton Park Close
         Derby Derbyshire
         DE248QB
         Tel: 01332 378 824
         Fax: 01332 292 704
         Web: http://www.cmsderby.co.uk/


CORUS GROUP: Selling Aluminum Unit to Aleris for EUR826 Million
---------------------------------------------------------------
Corus Group plc and Aleris International Inc. signed a Letter of
Intent for the proposed acquisition by Aleris of Corus'
downstream aluminum rolled products and extrusions businesses
for a gross consideration of EUR826 million (GBP570 million).

Corus' equity stakes in its Canadian and Chinese joint ventures
are also included within the proposed transaction.  Corus'
smelting operations would remain within Corus and would supply
Aleris under a long-term agreement.  Corus and Aleris would also
enter into an agreement related to research, development
and technology.

Internal consultation and advice processes related to the
transaction have commenced.  It is intended that a Sale and
Purchase Agreement would be entered into once these processes
are completed.  The proposed transaction would be subject to
certain external regulatory clearances.

The net disposal proceeds, after deducting pension liabilities
but excluding minority interests and net debt, would be
approximately EUR728 million (GBP502 million).  These proceeds
would be used to further strengthen both the Group's balance
sheet and the development of the carbon steel business.

"The proposed sale of the downstream aluminum operations to
Aleris secures a strong future for these businesses, represents
good value for Corus and is an important step in the Group's
strategy," Philippe Varin, Chief Executive of Corus said.

Gerhard Buddenbaum, Divisional Director Aluminium said, "This is
good news for our employees and customers.  The two businesses
complement each other and share the same strategic vision."

                      About the Company

Corus Group PLC -- http://www.corusgroup.com/-- is one of the   
world's largest metal producers with a turnover of over
GBP9 billion and major operating facilities in the U.K., the
Netherlands, Germany, France, Norway, Belgium and Canada.

Operating through four divisions -- Strip Products, Long
Products, Aluminium and Distribution & Building Systems -- Corus
has over 48,000 employees in over 40 countries and sales offices
and service centers worldwide.

Corus was created through the merger of British Steel plc and
Koninklijke Hoogovens N.V.  It suffered six years ago from the
crisis in British manufacturing, which prompted it to shake up
management, close plants, cut jobs, and sell assets to lower
debt.  Its debt was thought to stand at GBP1.6 billion in 2002.

After posting a net loss of GBP458 million in 2003, it embarked
on a restructuring program, signed a new EUR1.2 billion banking
facility, and issued GBP307 million worth of shares.  It
returned to operating profit in the first quarter of 2004.  The
recent recovery of steel prices and the strength of the euro are
expected to help it achieve relatively strong earnings.

                        *     *     *

As reported in TCR-Europe on March 8, Fitch Ratings has affirmed
Corus' Long-term Issuer
Default rating at BB- with Stable Outlook.  The ratings of
Corus' other debt instruments are also affirmed as follows:

  a) Corus Group PLC EUR800 million 7.5% senior notes B+;

  b) Corus Group PLC EUR307 million 3.0% convertible bonds B+;

  c) Corus Finance PLC GBP200 million 6.75% guaranteed bonds B+;   
     and
  
  d) Corus Finance PLC EUR20 million 5.375% guaranteed bonds B+.

The ratings reflect Corus' leading market position as the third
largest steel producer in Europe by volume, and the continued
turnaround in the company's financial performance since 2003.


D.A.F. ELECTRICAL: Appoints Grant Thornton to Administer Assets
---------------------------------------------------------------
Nigel Morrison and Richard Haws of Grant Thornton were appointed
joint administrators of D.A.F. Electrical Contractors Limited
(Company Number 03964501) on March 2.

Headquartered in London, Grant Thornton UK LLP --
http://www.grant-thornton.co.uk/-- is the UK member of Grant  
Thornton International, one of the world's leading international
organizations of independently owned and managed accounting and
consulting firms.  These firms provide a comprehensive range of
business advisory services from around 540 offices in over 110
countries worldwide.  

DAF Electrical Contractors Ltd offers electrical services.  Its
office is at 153A Bath Road, Cheltenham, Gloucestershire
GL537LU.  


DREAM EASY: Members Agree on Voluntary Liquidation
--------------------------------------------------
Members of Dream Easy Limited resolved to liquidate the
company's assets during an extraordinary general meeting on
Feb. 16.

Subsequently, they appointed Robert Adamson and Paul Charlton,
of Mazars LLP, to jointly administer the winding up proceedings.

Dream Easy Limited can be contacted at:

         Dewsbury West Yorkshire
         WF133WY
         Tel: 01924 469 964
         Fax: 01924 467 964
         Web: http://www.dream-easy.co.uk/


ELANTIC LIMITED: Appoints Leonard Curtis as Administrator
---------------------------------------------------------
J. M. Titley and A. Poxon of DTE Leornard Curtis Elantic Limited
(Company Number 01299104) were appointed joint administrators of
Elantic Limited on March 6.

DTE Leonard Curtis -- http://www.dtegroup.com/-- offers tax  
consultancy, company secretarial services, corporate finance,
corporate recovery, turnaround, forensic accounting, financial
services and insurance & risk management.

Elantic Limited -- http://www.elantic.co.uk/-- manufactures  
lift and handling equipment.


EPSOM BUSINESS: Appoints Michael Sutcliffe as Liquidator
--------------------------------------------------------
Michael Sutcliffe, of Sutcliffe & Co, was appointed Liquidator
after members of Epson Business Centre Limited passed a
resolution to wind up the company on Feb. 17.

Director J. Seymour disclosed the company could no longer
continue its business due to financial liabilities.

Epson Business Centre Limited can be reached at:
         
         St. Andrews house
         22-28 High Street
         Epsom Surrey
         KT198AH
         Tel: 01372 846 400


ESSENCE OF BUSINESS: Members Pass Winding Up Resolution
-------------------------------------------------------
Essence of Business Ltd is liquidating its assets after members
passed a resolution to wind up the company on Feb. 17.

Director J. Rubel revealed that the company could not continue
its business due to mounting debts.

Essence Of Business Ltd can be contacted at:

         4 The Beach
         Clevedon Avon
         BS217QU
         Tel: 01275 343 313
         Fax: 01275 343 313
         Web: http://www.essenceofbusiness.co.uk/


FOLDING SOLUTIONS: Members Pass Winding Up Resolution
-----------------------------------------------------
Members of Folding Solutions Limited passed a resolution to wind
up the company during an extraordinary general meeting on
Feb. 16.

They authorized Mark Stephen Goldstein, of DCM Insolvency
Service Limited, to lead the winding up proceedings.

Folding Solutions Limited can be reached at:

         Warsop Trading Estate
         Hever Road
         Edenbridge Kent
         TN8 5LD
         Tel: 01732 868 009


GLOBE GROUP: Appoints Joint Administrators from Robson Rhodes
-------------------------------------------------------------
Simon Peter Bower and Kevin John Hellard of RSM Robson Rhodes
LLP were appointed joint administrators of Globe Group Limited
(Company Number 02581554) on March 2.  Its registered office is
at 17 Station Road, Finchley Central, London N3 2SB.

RSM Robson Rhodes LLP -- http://www.robsonrhodes.co.uk/-- is a  
UK partnership of chartered accountants and management
consultants, providing a wide range of auditing, assurance,
advisory and compliance services for both private and public
sectors.  The firm is a member of the RSM International, the
world's sixth largest international organization of accountants
and business advisers.

Globe Group Ltd -- http://www.globe-group.co.uk/-- is the  
European arm of the RGS Group, one of the Gulf's leading
building materials trading, manufacturing and services
organizations.


HPJ UK: Meeting of Creditors Set for March 20
---------------------------------------------
Creditors of HPJ UK Limited (Company Number 02913342) will meet
at 10 a.m., on March 20 at:

        The Chimney House Hotel,
        Congleton Road,
        Sandbach, Cheshire CW11 4ST

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims by 12 p.m. on March 17, to:

        C. K. Rayment
        Joint Administrator
        BDO Stoy Hayward
        7th Floor
        125 Colmore Row
        Birmingham
        West Midlands B3 3SD

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.


KDG UK: Taps Geoffrey Martin to Administer Assets
-------------------------------------------------
Stephen Goderski and Geoffrey Martin of Geoffrey Martin & Co.
were appointed joint administrators of KDG UK Limited (Company
Number 04782755) on March 6.

The joint administrators can be reached at:

        Geoffrey Martin & Co.
        7-8 Conduit Street
        London W1S 2XF
        Tel: 020 7495 1100
        Fax: 020 7495 1144
        E-mail: stephen.goderski@geoffreymartin.co.uk

KDG UK Limited -- http://www.tib.co.uk-- manufactures  
electronic components.


KEMP STORAGE: Creditors' Meeting Set for March 20
-------------------------------------------------
Creditors of Kemp Storage Equipment Limited (Company Number
04763463) will meet at 12 p.m., on March 20, at:

        The Courtyard by Marriott Northampton West Hotel,
        High Street, Flore,
        near Daventry, Northampton NN7 4LP

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims by 12 p.m. on March 17, 2006, to:

        Simon Paterson
        Administrator
        Moore Stephens LLP
        Victory House, Admiralty Place,
        Chatham Maritime, Kent ME4 4QU

Moore Stephens -- http://www.moorestephens.co.uk/-- offers  
audit, business support, corporate finance, corporate recovery,
dispute analysis, financial services, insurance broking, IT
consultancy, pensions audit, risk advisory services, tax and
trusts & estates services.  Its UK network comprises over 1,400
partners and staff.

Kemp Storage Equipment Limited -- http://www.kemp-storage.com/
-- office is at 4 Faraday Close, Drayton Fields Industrial
Estate, Daventry, Northants NN11 5RD.


LIVERPOOL FUEL: Appoints Begbies Traynor to Administer Assets
-------------------------------------------------------------
David Moore and Donald Bailey of Begbies Traynor were appointed
joint administrators of Liverpool Fuel Oil Company Ltd (Company
Number 3268182) on March 1.  Its registered office is at King
Park Business Centre, 97 Stanley Road, Bootle, Merseyside L20
7DA.

Begbies Traynor -- http://www.begbies.com/-- assists companies,  
creditors, financial institutions and individuals on all aspects
of financial restructuring and corporate recovery.  

Liverpool Fuel Oil Company Ltd supplies fuel and oils and can be
reached at:

        Unit 13, Love Lane
        Liverpool, L3 7DD


MAT GROUP: Appoints Administrators from KPMG
--------------------------------------------
Allan Watson Graham and James Douglas Ernie Money of KPMG were
appointed administrators of Mat Group Limited (Company Number
00212649) on March 6.

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.

Machinery and Technical Transport Limited -- http://www.mat-
group.com/ -- originally concentrated on the rail-based
transporting of heavy machinery, motor- cars and bullion, with
its very first business being the shipment of silver bullion
from London to Budapest.  The company was founded in 1926.


MERILAB LIMITED: Appoints Joint Administrators from Mazars
----------------------------------------------------------
T. C. H. Ball and R. J. Weston of Mazars LLP were appointed
joint administrators of Merilab Limited (Company Number
01736165) on Feb. 24.

Mazars -- http://www.mazars.com/-- is an international,  
integrated and independent organization, specialized in audit,
accounting, tax and advisory services.

Merilab Limited -- http://www.merilab.com/-- is the oldest  
continual manufacturer of production alignment equipment in the
world.  The company was established in the mid-1920s.


META COMPUTER: Creditors' Meeting Set for March 20
--------------------------------------------------
Creditors of Meta Computer Systems Ltd (Company Number 03125121)
will meet at 2 p.m., on March 20, at:

        Bond Partners LLP
        The Grange,
        100 High Street,
        London N14 6TG

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims by 12 p.m., on March 17 to:

        T. Papanicola
        Administrator
        Bond Partners LLP
        The Grange,
        100 High Street,
        London N14 6TG
        Tel: 020 8444 2000
        Fax: 020 8444 3400


NEWGATE FUNDING: Fitch Puts BB Rating to GBP5.45MM Class Q Notes
----------------------------------------------------------------
Fitch Ratings assigned expected ratings to Newgate Funding PLC's
Series 2006-1 GBP575 million-equivalent multi-currency mortgage-
backed medium term notes due 2050 as follows:

  a) GBP-equivalent 186.90 million Class A1: AAA;
  b) GBP-equivalent 100.00 million Class A2: AAA;
  c) GBP-equivalent 69.15 million Class A3: AAA;
  d) GBP-equivalent 135.00 million Class A4: AAA;
  e) GBP-equivalent 14.40 million Class M: AAA;
  f) GBP-equivalent 33.80 million Class B: AA;
  g) GBP-equivalent 16.95 million Class C: A+;
  h) GBP-equivalent 16.20 million Class D: BBB+;
  i) GBP-equivalent 2.60 million Class E: BBB+;
  j) GBP-equivalent 4.60 million Class T: BBB; and
  k) GBP-equivalent 5.45 million Class Q: BB.

The final ratings are contingent upon receipt of documents
conforming to information already received.

This transaction is a securitization of sub-prime residential
mortgages originated and located in the UK.  The ratings are
based on the quality of the collateral, available credit
enhancement, the underwriting criteria and the servicing
capabilities of Mortgages PLC, and the back-up servicing of
capabilities of Homeloan Management Limited and the
transaction's sound legal structure.

Credit enhancement for the Class A notes is initially 13.25%,
provided by the subordination of the Class B notes, the Class C
notes, the Class D notes and the Class E notes and an initial
and target reserve fund of 1.15%.

The Class T notes will receive interest pari passu and pro rata
with the Class D notes and the Class T notes will receive
principal after any necessary payments into the reserve fund.
The Class Q notes will receive interest and principal after
Class T principal.

To determine appropriate credit enhancement levels, Fitch
analyzed the collateral using its UK Residential Mortgage
Default Model III.  The agency also modeled cash flows using the
results of the default model, with structural stresses including
various prepayment and interest rate scenarios.  

The cash flow tests showed that each Class of notes could
withstand loan losses at a level corresponding to the related
stress scenario without incurring any principal loss or interest
shortfall and can retire principal by legal final maturity.


PEAK ENTERTAINMENT: Appoints Wilson Field Administrator
-------------------------------------------------------
Lisa Hogg of Wilson Field was appointed administrator of
multimedia company Peak Entertainment Limited (Company Number
04325429) on March 2.

The administrator can be reached at:

         Wilson Field
         The Annexe
         The Manor House
         260 Ecclesall Road South
         Sheffield
         South Yorkshire S11 9UZ
         Tel: 0114 235 6780
         Fax: 0114 262 0661


RANK GROUP: Repurchases 1.4 Million Shares for Cancellation
-----------------------------------------------------------
The Rank Group Plc purchased on March 15, 1,366,600 ordinary
shares of 10 pence in the Company for cancellation at an average
price of 245.74p per share.

                     Directors Buy Shares

At the same time, ordinary shares were purchased by five
directors at the price of 246 pence per share, in accordance
with the Company's quarterly share purchase programme for non-
executive directors:

                   No. of Ordinary shares    Total holding of
  Director                      purchased    Ordinary shares                   
  --------         ----------------------    ----------------
John Sunderland            1,233                5,584
Oliver Stocken             1,124               45,290
Brendan O'Neill            1,332                3,648
Richard Greenhalgh         1,379                4,185
John Warren                  320               10,320

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 on March 8, 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'.  S&P said the outlook is stable.


V T TECHNOLOGY: Appoints Administrators from KPMG
-------------------------------------------------
Allan Watson Graham and Richard James Philpott of KPMG were
appointed administrators of V T Technology Limited (Company
Number 04955830) on March 7.

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.

Vt Technology Ltd manufactures vehicle trim and can be reached
at Park Road, Holmewood Industrial Park, Chesterfield,
Derbyshire, S42 5UY.  For more details, call 01246-850828.


* Hunton & Williams Launches Corp Recovery & Insolvency Practice
----------------------------------------------------------------
The London office of Hunton & Williams is launching a Corporate
Recovery and Insolvency Practice.  

To launch the practice, the firm has recruited Mark Fennessy,
39, who joins the London office, along with his team.  Formerly
Head of Corporate Recovery with Clyde & Co in London, Mr.
Fennessy is a UK-qualified solicitor and Licensed Practitioner
and practices corporate advisory and restructuring.

"The addition of Mark follows Hunton & Williams' growth plans
for London and its international offices," said Thurston R.
Moore, the firm's chairman.  "His arrival strengthens both our
ability to serve our clients' business strategies in US outbound
cross-border transactions and to grow our domestic, London-based
corporate and finance practices."

Benjamin C. Ackerly, co-head of Hunton & Williams' Bankruptcy
Practice Group, said, "We are very excited to have Mark and his
team join us.  It will be a perfect supplement to our existing
practice in New York, Washington DC, Richmond, Atlanta, Miami,
and Dallas."

"The London office offers a range of legal services under both
UK and US law," added Martin Thomas, office managing partner.  
"Our lawyers practice as a global group, forming integrated
teams that mesh well with the corresponding practices in the
United States and our offices in Asia.  Mark has a strong
reputation in London and will add further depth to the firm's
international capabilities."

Mark Fennessy is the latest in a series of European additions to
the firm.  Over the past twelve months the firm has hired:

   -- John Deacon, Energy and Project Finance partner from
      Hammonds;

   -- Jonathan Marsh, Financial Markets Law and Regulation
      partner from Hammonds;

   -- Paul Tetlow, Corporate Finance partner from Clyde and Co;
      and

   -- Matthew Williams, Energy and Project Finance partner
      from Cadwalader, Wickersham & Taft LLP.

Concentrating in the core areas of corporate recovery and
insolvency, Mr. Fennessy plans to establish a transatlantic
practice, building on the existing strengths of the 25-lawyer
business restructuring, bankruptcy, workout, and creditors'
rights practice the firm already boasts in the US market.

"I joined Clyde & Co five and one-half years ago from Herbert
Smith with a brief to establish and develop a leading corporate
recovery and insolvency practice.  This has been achieved from a
standing start.  I am now looking to take my practice and
develop it many stages further into a leading international
offering with strong US business lines both in terms of clients
and resource.  Quite simply, this is what the CR marketplace has
been asking for and the move to Hunton is a natural progression
for our team and will be welcomed by our clients," he says.  
"Hunton & Williams provides the perfect environment to build a
leading international offering and we look forward to working
with our US and UK colleagues to achieve this.  Working for the
Steering Banks on the restructuring of North American Bus
Industries demonstrated to me that if we were to continue to
provide a quality service to our clients a US presence was an
absolute must."

In the last 12 months, Hunton & Williams' London office has
added 12 lateral lawyers to its energy, capital markets, project
finance, financial services and employment practices.  This move
reflects Hunton & Williams' global expansion presence and local
growth strategy, and its plan to further increase the London
office headcount during 2006.

                  About Hunton & Williams

Founded in 1901, Hunton & Williams is a US law firm with a
significant international presence.  More than 850 attorneys
serve clients in 100 countries from 17 offices around the world.  
The London office, which was established in 1999 and comprises
UK-qualified solicitors and US lawyers, plays a leading role in
the firm's global financing and energy practices.

                            *********                            


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 * * *