TCREUR_Public/060331.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 31, 2006, Vol. 7, No. 65

                            Headlines


G E R M A N Y

DIETRICH JENSS: Claims Registration Ends April 4
FJH AG: Dec. 31 Shareholders' Equity Returns to Positive
GUSTAV KRAUSSLICH: Claims Registration Ends April 3
HAASE TIEFBAU: Creditors' Meeting Slated for April 24
HGA HOTELBETRIEBSGESELLSCHAFT: Claims Registration Ends April 3

HOFFNER GMBH: Claims Registration Ends April 3
INGE GRAF: Creditors' Meeting Slated for May 15
KARSTADTQUELLE AG: Sells Real Estate Asset for EUR3.7-Bln Cash
KONIG GMBH: Creditors' Meeting Slated for April 3
KOURA RESTAURANT: Claims Registration Ends April 3

KRAUSSLICH MODE: Claims Registration Ends April 3
LEAR CORP: Refinancing Debt & Restructuring European Unit
MAIK GROSSHANDEL: Claims Registration Ends April 3
NAUMANN-WIEBACH: Claims Registration Ends April 3
OHO -- DAS: Claims Registration Ends April 3

PACHLER GMBH: Creditors' Meeting Slated for May 19
PHOENIX KAPITALDIENST: Parties Reach Basic Agreement on Plan
RHEUMA-KURKLINIK: Claims Registration Ends April 4
SMW VERMOGENSTREUHAND: Claims Registration Ends April 3
TH. PETERS: Creditors' Meeting Slated for April 25


I R E L A N D

EIRJET: Airport Drops Windup Petition After Full Payment Receipt
ELAN CORPORATION: Re-Initiates Trial Dosing of TYSABRI(R)


I T A L Y

IMPREGILO SPA: Hikes Net Loss & Cuts Total Debt in 2005
IMPREGILO SPA: Signs EUR4 Billion Messina Bridge Deal
ITALTRACTOR: S&P Withdraws Junk Ratings at Company's Request


K A Z A K H S T A N

AIGERIM: Akmola Court Opens Bankruptcy Proceedings
AR-DOS: Creditors Must File Claims by April 7
KAZSERVICESTROI: Pavlodar Court Opens Bankruptcy Proceedings
MAVR & K: Karaganda Court Opens Bankruptcy Proceedings
NAKYP-ASTANA: Creditors Must File Claims by April 7

STALTREID-PAVLODAR: Pavlodar Court Opens Bankruptcy Proceedings
TRANSLUKS: Karaganda Court Opens Bankruptcy Proceedings


P O L A N D

NETIA SA: Transfers Netia Ventures' Stake to P4 Sp. z o. o.
NETIA SA: Adopts Dividend Payout & Restructures Board


R U S S I A

AGRO-KHIM: Bankruptcy Hearing Set for May 4
BELEV-AGRO-SERVICE: Claims Filing Period Ends April 18
KALININSKOYE: Proofs of Claim Deadline Set April 18
KHABAROVSKIY: Undergoes Bankruptcy Supervision Procedure
SOVIETSKO-GAVANSKAYA: V. Rybyakov Named Insolvency Manager

SUKHOVSKOYE: Bankruptcy Hearing Set for May 12
SYCHEVKA: Deadline for Proofs of Claim Set for April 18
TRANSIT: Appoints S. Korzhov Insolvency Manager
URALTRANSBANK: Fitch Puts B- on Issuer Default Rating
YUKOS OIL: Court Bans Asset Sale Absent Manager's Permission

ZALESSKIY: Cheese Factory Under Bankruptcy Supervision
ZYRYANSKAYA: Bankruptcy Hearing Set April 14


U K R A I N E

BK EVROGRAD: Kyiv Court Opens Bankruptcy Proceedings
DAKO-SERVICE: Kyiv Court Opens Bankruptcy Proceedings
KORAL: Kyiv Court Opens Bankruptcy Proceedings
NADIYA: Ivano-Frankivsk Court Opens Bankruptcy Proceedings
OTAVA: Harkiv Court Opens Bankruptcy Proceedings

TEHNOBUD SERVICE: Kyiv Court Starts Bankruptcy Supervision
TPK ZETTA: Kyiv Court Opens Bankruptcy Proceedings
VITA-NOVA: Kyiv Court Opens Bankruptcy Proceedings


U N I T E D   K I N G D O M

A1M STUDIOS: Hires Chantrey Vellacott to Administer Assets
BARON JON: Names Martin Henry Linton as Administrator
BARRY ROSE: Joint Administrators from Buchanans Enter Firm
BUSINESS MACHINE: BPT IP Appoints Deloitte & Touche Receiver
CLEAN GLO: Taps Joint Administrators from Vantis Numerica

CORUS GROUP: Brandes Investment Eyes 5.9% Equity Stake
HIGHSTYLE DEVELOPMENTS: Creditors' Meeting Set Today
H R WINSTON: Calls In Liquidator from Begbies Traynor
KIDDERMINSTER ENGINEERING: Members Pass Winding Up Resolution
KIKI HI: Members Resolve to Voluntary Liquidation

KINGSTREET MEDIA: Names Menzies Corporate Administrator
LEISURE LINE: Claims Registration Ends April 20
LIFE SCIENCES: Equity Deficit Widens to $14.5 Million at Dec. 31
LUXFORD LIMITED: Claims Filing Period Ends April 7
MEAD FINANCIAL: Administrator Takes Over Helm

MENTOR TECHNOLOGY: Hires Begbies Traynor to Administer Assets
MOBTAK LIMITED: Creditors Confirm Voluntary Liquidation
NICOLAS (NORTHERN): Appoints Unity Corporate Administrator
NIMROD ENGINEERING: Hires Joint Liquidators from Insol House
NORTHUMBRIAN COUNTRY: Mounting Debts Trigger Liquidation

NRG FENCHURCH: Wants High Court to Approve Scheme of Transfer
PUBLIC BUILDING: Appoints PwC as Administrator
R.O.G. LEISURE: Taps DTE Leonard Curtis to Administer Assets
SIGNATURE GIFTS: Members Agree to Liquidation

SMITHSTEEL LEICESTER: Wholesaler Appoints CBA Administrator
SPIRIT INTEGRATED: Begins Liquidation Procedure
STAFFORD REPROGRAPHICS: Liquidator Takes Over Operations
TIMBER BUILDINGS: Winds Up Operations & Appoints Liquidator
WESTFIELD STAMPINGS: Meeting of Creditors Set for April 4

                           *********

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


DIETRICH JENSS: Claims Registration Ends April 4
------------------------------------------------
Creditors of Dietrich Jenss, Holzhandels- und Verarbeitungs GmbH
Sanitz have until April 4, to register their claims with court-
appointed provisional administrator Thorsten Schnoor.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 17, 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 Rostock
         Saal 330
         Zochstrasse
         18057 Rostock

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

The District Court of Rostock opened bankruptcy proceedings
against Dietrich Jenss, Holzhandels- und Verarbeitungs GmbH
Sanitz on Feb. 21.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be contacted at:
         
         Dietrich Jenss, Holzhandels- und
         Verarbeitungs GmbH Sanitz
         Attn: Dietrich Jenss, Manager
         Tessiner Strasse 5
         18190 Sanitz

The administrator can be contacted at:

         Thorsten Schnoor
         Wendenstrasse 4
         20097 Hamburg


FJH AG: Dec. 31 Shareholders' Equity Returns to Positive
--------------------------------------------------------
The Supervisory Board of Prime Standard-listed consulting and
software house FJH AG (ISIN DE0005130108) approved the audited
consolidated financial statements for the year ended Dec. 31,
2005.  According to the financial report, the Group successfully
completed most of the restructuring process commenced in summer
2005 and restored a stable equity base.  

In 2005, the Company reported EUR51.1 million in turnover, with
approximately EUR51.6 million in total operating performance.

Earnings before interest and taxes (EBIT) improved significantly
to -EUR3.7 million from -EUR123.3 million in 2004.  The
Company's consolidated loss was reduced to -EUR2.0 million, from
-EUR122.7 million in 2004.

The capital increases implemented during the last fiscal year
have put the company back on a sound financial footing.  At
Dec. 31, 2005, the FJH Group's balance sheet showed EUR4.4
million in stockholders' equity, compared to a EUR9.7 million
deficit at Dec. 31, 2004.  The capital increase implemented in
March 2006 increased shareholders' equity by a further EUR14.5
million.

For 2006, the company expects turnover to increase to around
EUR56 million with positive EBIT of around EUR3 million.  The
annual net income should be around EUR2 million.  The company
expects to return to a positive free cash flow from Q2 and for
the year as a whole.

Headquartered in Munich, Germany, FJH AG -- http://www.fjh.com/
-- is a leading consultancy and software house for the insurance
and pensions market.  Under its brand name FJA the FJH Group
offers a broad portfolio of software solutions to support
insurance companies and pension providers in all key areas and
issues.  Products include policy administration systems, process
and document management software and point-of-service solutions
through to systems for asset liability management and corporate
control.  The Company was founded in 1980 and has been listed on
the Frankfurt Stock Exchange since February 2000.  FJH AG was
included in the Prime Standard index in January 2003.


GUSTAV KRAUSSLICH: Claims Registration Ends April 3
---------------------------------------------------
Creditors of Gustav Krausslich KG have until April 3, to
register their claims with court-appointed provisional
administrator Dr. Helmut Eisner.

Creditors and other interested parties are encouraged to attend
the meeting at 10:15 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 Ansbach
         Sitzungssaal 1
         Promenade 8
         91522 Ansbach

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

The District Court of Ansbach opened bankruptcy proceedings
against Gustav Krausslich KG on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:
         
         Gustav Krausslich KG
         Crailsheimer Str. 25
         91625 Schnelldorf

The administrator can be contacted at:

         Dr. Helmut Eisner
         Josef-Schmitt-Str, 10
         97922 Lauda-Konigshofen
         Tel: 09343/2065
         Fax: 09343/3833


HAASE TIEFBAU: Creditors' Meeting Slated for April 24
-----------------------------------------------------
Court-appointed provisional administrator for Haase Tiefbau KG,
Michael Bremen, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:15 a.m., on
April 24.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Duesseldorf
         Sitzungssaal A 388
         3. Etage
         Muehlenstrasse 34
         40213 Duesseldorf

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

Creditors have until April 3, to register their claims with the
court-appointed provisional administrator.

The District Court of Duesseldorf opened bankruptcy proceedings
against Haase Tiefbau KG on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Haase Tiefbau KG
         Ernst-Tellering-Str. 22
         40764 Langenfeld
         Attn: Elisabeth Haase, Manager
         Wasserburg 21
         40764 Langenfeld

The administrator can be contacted at:

         Michael Bremen
         Sternstr. 58
         40479 Duesseldorf


HGA HOTELBETRIEBSGESELLSCHAFT: Claims Registration Ends April 3
---------------------------------------------------------------
Creditors of HGA Hotelbetriebsgesellschaft mbH have until
April 3, to register their claims with court-appointed
provisional administrator Matthias Ernst.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Bamberg
         Sitzungssaal 031
         Synagogenplatz 1
         96047 Bamberg

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

The District Court of Bamberg opened bankruptcy proceedings
against HGA Hotelbetriebsgesellschaft mbH on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:
         
         HGA Hotelbetriebsgesellschaft mbH
         Attn: Reinhard F. Martin, Manager
         Lichtenfelser Str. 35
         96103 Hallstadt

The administrator can be contacted at:

         Matthias Ernst
         Geisfelder Str. 14
         96050 Bamberg
         Tel: 0951/917870
         Fax: 0951/9178729


HOFFNER GMBH: Claims Registration Ends April 3
----------------------------------------------
Creditors of Hoffner GmbH have until April 3, to register their
claims with court-appointed provisional administrator Patric
Naumann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 22, 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 Mannheim
         Raum 232
         2. Stockwerk
         68149 Mannheim

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

The District Court of Mannheim opened bankruptcy proceedings
against Hoffner GmbH on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:
         
         Hoffner GmbH
         Attn: Reiner Hoffner, Manager
         Rheinhauser Str. 71
         68804 Altlussheim

The administrator can be contacted at:

         Patric Naumann
         N 7, 11
         68161 Mannheim
         Tel: 0621/4802640


INGE GRAF: Creditors' Meeting Slated for May 15
-----------------------------------------------
Court-appointed provisional administrator for Inge Graf GmbH,
Tobias Hoefer, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 9:30 a.m., on
May 16.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Darmstadt
         Saal 14
         1. OG
         Gebaude D
         Mathildenplatz 15
         64283 Darmstadt

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

Creditors have until April 4, to register their claims with the
court-appointed provisional administrator.

The District Court of Darmstadt opened bankruptcy proceedings
against Haase Tiefbau KG on March 1.  Consequently, all pending
proceedings against the company have been automatically stayed.

The Debtor can be contacted at:

         Haase Tiefbau KG
         Attn: Ingeborg Anna Gertrude Graf, Manager
         Robert-Schumann-Strasse 1
         68519 Viernheim
         
The administrator can be contacted at:

         Tobias Hoefer
         Soldnerstr. 2
         68219 Mannheim
         Tel: 0621/877080
         Fax: 0621/8770820


KARSTADTQUELLE AG: Sells Real Estate Asset for EUR3.7-Bln Cash
--------------------------------------------------------------
KarstadtQuelle AG, Essen, sold a real estate package valued at
EUR4.5 billion to a joint company of Whitehall Fund (51%) and
KarstadtQuelle (49%).  

Whitehall Fund is owned by investment bank Goldman Sachs.  
KarstadtQuelle (including CTA program) receives an immediate
cash payment of EUR3.7 billion.  The company expects an
additional EUR800 million from the participation in the
appreciation of these real estate assets as agreed with
Whitehall.

"We believe that the value of the department store real estate
assets will increase substantially over the coming years.  For
this reason, we opted for a strategic model that allows us to
completely redeem Group debt, while at the same time enabling us
to participate in the appreciation of the real estate," said
Thomas Middelhoff, chief executive officer of KarstadtQuelle AG,
at the Annual Press Conference.  "With this, the Management
Board achieved an optimum result for all shareholders."

Investment bank Rothschild supported the assessment of the
various options for commercializing the real estate.  As the
tenant with long-term leasing agreements, Karstadt Warenhaus
GmbH will continue to operate the department and sports stores
at the same leasing conditions as previously.

"We reduce Group debt to zero, and this gives us new flexibility
for further development and growth on the basis of a less
capital-intensive business model," said Mr. Middelhoff.  "We are
strengthening our equity ratio directly to approximately 20
percent.  As a result of this transaction, our Group earnings
before tax (EBT) will improve by more than EUR100m a year on a
sustainable basis.  In addition, we will realize an
extraordinary income of almost EUR2 billion before tax this
year."  

Mr. Middelhoff also disclosed that in 2006 the Group would
commercialize further real estate assets with a value of EUR600
million in a separate transaction to that just concluded.  This
would bring the total value of real estate transactions to
EUR5.1 billion.

"For the first time in many years, KarstadtQuelle Group's
planning is back under control," said Mr. Middelhoff at the
Annual Press Conference.  

                      Full-Year Report

In a challenging year of restructuring and realignment in a
continuously difficult retail environment, the Group achieved
and even exceeded its targets for the 2005 financial year.  
Group sales, adjusted for the strong impact of the realignment,
were EUR15.45 billion, compared to EUR16.14 billion in the
previous year, down 4.2 percent.  Adjusted EBITDA improved by
5.1 percent to EUR544m, compared to EUR518m in the previous
year.  With these results, the company clearly achieved its
targets for the year.

In 2005, net financial liabilities were reduced by a third to
EUR3.0billion (including Thomas Cook), down from EUR4.5billion
in the previous year.  This reduction was much stronger than
planned.  Key contributors were the successful implementation of
the disinvestment program and the sale of receivables (ABS) in
Mail Order.  Working capital was almost halved.  End of 2005, it
totaled EUR1.2 billion, down from EUR2.3billion in the previous
year.  On an operating level, an improvement of 11 percent was
achieved.

"It remains our paramount objective to make the company fit for
the future", said Mr. Middelhoff.  "The core business areas are
department stores, home shopping and tourism.  In all these
areas we must achieve even better operating success, with a
clear customer focus, service and care.  We have set an overall
EBITDA margin target of 6 to 7 percent for the Group."

The Department Store portfolio of the group will be realigned
and clearly positioned.  Five stores, including the Alsterhaus
in Hamburg and the KaDeWe in Berlin, are to be combined into the
Premium Group.  Eight further stores will follow successively.  
All the stores are in top locations and will offer an
international buying ambience with leading brands and high
service level.  The other department stores will be combined in
the Boulevard and Boulevard Plus segments.  "With this strategy
we will create considerable additional value in our department
store portfolio over the next few years.  This is already
evident is the sales figures our modernized stores are
generating", said Mr. Middelhoff.

In Mail Order, the objective is to conclude the initiated
restructuring by the end of 2007.  In the process neckermann.de
and Quelle are to be more strongly separated than in the past,
but will benefit from stronger usage of joint services in the
back office.  In the future neckermann.de will be more
rigorously focused on e-commerce, while Quelle will continue to
expand its position as Europe's largest mail order business.  
"The principle of home shopping is not only alive but has a
great future, given the clear advantages of being able to choose
what one wants, when and where one wants, to obtain financing
service, supply and assembly and all this at a fair price," said
Mr. Middelhoff.

Thomas Cook has returned to profitability after a comprehensive
two-year restructuring program.  The company in which
KarstadtQuelle holds a 50 percent stake is consolidated pro rata
in the annual financial statements 2005 for the first time.  The
realignment of the second-largest tourism group in Europe is to
be vigorously continued, in particular by extending internet
sales.

"We are on track to becoming an absolutely normal company
again," summarized the CEO.  "In 2004, the company fought for
survival.  Over the past year, we considerably increased the
pace for restructuring.  We completed our disinvestment program
rapidly and with great success.  Now, we are taking the next
step of creating a retail and tourism group that is successful
on a long-term basis."

In the future, KarstadtQuelle will strengthen its design
expertise; offer more collections in its mail order companies
and the department stores per year as well as strengthening its
own brands.  To do this, a new Group Management Board function
is to be created for purchasing and procurement.  "We will
considerably extend our procurement volume in Asia, and plan to
reduce our working capital by EUR500 million," said Mr.
Middelhoff.  Initially Prof. Helmut Merkel who is also
responsible for Department Stores will hold the new Management
Board position.  KarstadtQuelle is currently examining whether
the company can establish cooperation with a strong
international partner for procurement.

For the current financial year, the Group expects a slight
increase of sales (on a comparable basis) and an improvement of
adjusted EBITDA by approximately 20 percent.  Supported by the
profitable expansion of the leading market position in the core
business areas, the company plans sales of between EUR17billion
and EUR18billion after the completion of its restructuring.  
Then, EBITDA is expected to be at the level of approximately
EUR1.1billion, equivalent to an EBITDA margin of 6 percent to 7
percent.

A copy of KarstadtQuelle AG's 2005 full-year report is available
at http://bankrupt.com/misc/karstadtquelle_2005.pdf

Headquartered in Essen, Germany, KarstadtQuelle AG --
http://www.karstadtquelle.com/-- is the country's largest  
department store and mail order group.  It has annual sales of
EUR13.5 billion and employs around 90,000.  The retailer has
been suffering from sluggish consumption and high unemployment
rate in Germany.  KarstadtQuelle posted an EBITDA of -EUR428
million in 2004.  The group is currently restructuring
operations by selling off non-core assets and implementing cost-
saving measures.


KONIG GMBH: Creditors' Meeting Slated for April 3
-------------------------------------------------
Court-appointed provisional administrator for Konig GmbH
Metallverarbeitung, Ruediger Wienberg, will present his first
report on the Company's insolvency proceedings at a creditors'
meeting at 9:20 a.m., on April 3.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Charlottenburg
         Saal 218
         II. Stock
         Amtsgerichtsplatz 1
         14057 Berlin

Creditors have until May 19, to register their claims with the
court-appointed provisional administrator.

The Court will also verify the claims set out in the
administrator's report at 9:15 a.m., on July 17, at the same
venue.

The District Court of Charlottenburg opened bankruptcy
proceedings against Konig GmbH Metallverarbeitung on March 1.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Konig GmbH Metallverarbeitung
         Lagerweg 27-29
         13599 Berlin

The administrator can be contacted at:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin


KOURA RESTAURANT: Claims Registration Ends April 3
--------------------------------------------------
Creditors of Koura Restaurant GmbH have until April 3, to
register their claims with court-appointed provisional
administrator Georg Kreplin.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on April 24, 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 Duesseldorf
         Sitzungssaal A 388
         3. Etage
         Muehlenstrasse 34
         40213 Duesseldorf

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

The District Court of Duesseldorf opened bankruptcy proceedings
against Koura Restaurant GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:
         
         Koura Restaurant GmbH
         Oberstr. 93
         41460 Neuss
         Attn: Sherien Hassan Fahmy Koura, Manager
         Clara-Viebig-Str. 17
         41352 Korschenbroich

The administrator can be contacted at:

         Georg Kreplin
         Berliner Allee 21
         40212 Duesseldorf


KRAUSSLICH MODE: Claims Registration Ends April 3
-------------------------------------------------
Creditors of Krausslich Mode GmbH have until April 3, to
register their claims with court-appointed provisional
administrator Dr. Helmut Eisner.

Creditors and other interested parties are encouraged to attend
the meeting at 9:45 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 Ansbach
         Sitzungssaal 1
         Promenade 8
         91522 Ansbach

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

The District Court of Ansbach opened bankruptcy proceedings
against Krausslich Mode GmbH on March 1.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:
         
         Krausslich Mode GmbH
         Crailsheimer Str. 25
         91625 Schnelldorf

The administrator can be contacted at:

         Dr. Helmut Eisner
         Josef-Schmitt-Str. 10
         97922 Lauda-Konigshofen
         Tel: 09343/2065
         Fax: 09343/3833


LEAR CORP: Refinancing Debt & Restructuring European Unit
---------------------------------------------------------
The Board of Directors of Lear Corporation (NYSE: LEA) approved
several significant actions to strengthen the company's
financial flexibility and reposition the company's operational
focus.

These include:

   -- the approval of bank commitments for $800 million in
      secured term loans;

   -- an agreement in principle to contribute substantially all
      of Lear's European Interior Products business to the joint
      venture with WL Ross & Co. LLC; and

   -- the suspension of the company's dividend program.

"The senior leadership of Lear understands that near-term
challenges within the automotive sector are weighing heavily on
investors' minds," said Bob Rossiter, Lear's chairman and chief
executive officer.  "By refinancing our 2007 debt maturities
early, investors can be assured that the company is financially
sound and focused on improving our longer-term operating
performance."

                       Bank Commitments

Lear has received commitments from four of its largest global
lenders, JPMorgan Chase Bank, N.A., Bank of America, N.A.,
Citibank, N.A. and Deutsche Bank, to provide Lear with an
aggregate $800 million of secured term loans.  The term loans
will mature no earlier than March 2012 and are expected to be
made on market terms.  A portion of the proceeds will be used to
refinance the company's $400 million term loan scheduled to
mature in February 2007.  The remaining proceeds are expected to
fund the retirement of Lear's outstanding convertible senior
notes and for general corporate purposes.  The financing
commitments are subject to customary terms and conditions.

In connection with the new term loan facilities, the company's
primary credit facility would be amended and restated to, among
other things, provide additional collateral for both the
company's existing revolving credit facility and the new term
loans, increase the interest rates applicable to the revolving
credit facility and provide additional flexibility under the
facility's existing financial covenants through 2007.

The amendment and restatement of the company's primary credit
facility will require the consent of lenders holding a majority
of the outstanding commitments.  The banks that provided the
financing commitments for the term loans have agreed to support
the proposed amendment.  The amendment and restatement of the
credit facility and the new term loan facility are expected to
be completed in the second quarter.

                     European Restructuring

Additionally, Lear's Board of Directors approved an agreement in
principle to contribute substantially all of the company's
European Interior Products operations to International
Automotive Components Group, Lear's joint venture with WL Ross &
Co. LLC and Franklin Mutual Advisers LLC.  The transaction is
consistent with the framework agreement the parties entered into
last fall to explore strategic opportunities in the automotive
interior components sector.

IAC was recently formed to acquire the principal businesses of
Collins & Aikman Corporation in Europe.  In exchange for its
European Interiors business, Lear expects to receive a 34%
equity stake in the joint venture.  The transaction is subject
to negotiation of definitive documentation as well as customary
conditions, including the receipt of all required regulatory
approvals, and is expected to close before June 30, 2006.

Lear's European Interior operations that are being contributed
to the joint venture include nine manufacturing locations
generating about $750 million in annual sales, as well as
certain management and operational support functions.  The
combined European Interior operations of Lear and Collins &
Aikman would represent the largest enterprise of its kind in
Europe, and provide a solid platform for improving ongoing
operating performance.

                    Quarterly Dividend Program

The Board also suspended Lear's quarterly cash dividend program
to provide an additional measure of liquidity cushion given
current industry conditions.  "While we regret having to suspend
the dividend program, management is focused on preserving the
company's financial flexibility in a very challenging industry
environment," Rossiter continued.  "At the same time, the entire
Lear team is working to improve our ongoing financial results,
with an emphasis on improving cash flow and taking further
aggressive actions to address our under-performing Interior
Products business globally."

                       About the Company

Headquartered in Southfield, Michigan, Lear Corporation --
http://www.lear.com/-- is one of the world's largest suppliers  
of automotive interior systems and components.  Lear provides
complete seat systems, electronic products and electrical
distribution systems and other interior products.  With annual
net sales of $17.1 billion, Lear ranks #127 among the Fortune
500.  The company's world-class products are designed,
engineered and manufactured by a diverse team of 115,000
employees at 282 locations in 34 countries.  Lear's and Lear is
traded on the New York Stock Exchange under the symbol [LEA].

                          *     *     *

As reported in the Troubled Company Reporter on March 22,
Moody's Investors Service lowered Lear's Corporate Family and
Senior Unsecured Debt ratings to B2 from Ba2.  The actions
reflected deterioration in Lear's operating performance and
prospects below previous expectations.  Leverage is anticipated
to remain elevated over the intermediate term.

As reported in the Troubled Company Reporter on March 20, Fitch
downgraded Lear's Issuer Default Rating to 'B' from 'BB+', and
the company's senior unsecured debt and secured bank agreement
to 'B+' from 'BB+.  Approximately 53% of Lear's 2005 revenues
were to Ford and GM, which face capacity reductions and
declining production over the next several years.  A Recovery
Rating of 'RR3' has been assigned, indicating that in the event
of further deterioration in financial and operating results to
the point where the company sought Chapter 11 protection,
recovery values on secured bank facilities and senior unsecured
debt are projected to be between 50%-70%.  Fitch said the Rating
Outlook remains Negative.


MAIK GROSSHANDEL: Claims Registration Ends April 3
--------------------------------------------------
Creditors of MAIK Grosshandel GmbH have until April 3, to
register their claims with court-appointed provisional
administrator Dr. Frank Kebekus.

Creditors and other interested parties are encouraged to attend
the meeting at 9:50 a.m. on April 24, 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 Duesseldorf
         Sitzungssaal A 388
         Muehlenstrasse 34
         40213 Duesseldorf

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

The District Court of Duesseldorf opened bankruptcy proceedings
against MAIK Grosshandel GmbH on March 2.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:
         
         MAIK Grosshandel GmbH
         Attn: Claudia Temme, Manager         
         Konigsberger Str. 234
         40231 Duesseldorf

The administrator can be contacted at:

         Dr. Frank Kebekus
         Scheibenstrasse 45
         40479 Duesseldorf


NAUMANN-WIEBACH: Claims Registration Ends April 3
-------------------------------------------------
Creditors of Naumann-Wiebach Beteiligungsgesellschaft mbH have
until April 3, to register their claims with court-appointed
provisional administrator Oliver Rosler.

Creditors and other interested parties are encouraged to attend
the meeting at 11:30 a.m. on April 18, 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 Saarbruecken
         Saal 13    
         1. Etage     
         Vopeliusstrasse 2
         66280 Sulzbach

The Court will also verify the claims set out in the
administrator's report at 9:25 a.m., on May 2, at the same
venue.

The District Court of Saarbruecken opened bankruptcy proceedings
against Naumann-Wiebach Beteiligungsgesellschaft mbH on March 6.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:
         
         Naumann-Wiebach Beteiligungsgesellschaft mbH
         Attn: Thomas Schenk, Manager         
         Saarbruecker Strasse 209
         66679 Losheim am See

The administrator can be contacted at:

         Oliver Rosler
         Kaiserstrasse 56
         66424 Homburg
         Tel: (06841) 696-118
         Fax: (06841) 696-204


OHO -- DAS: Claims Registration Ends April 3
--------------------------------------------
Creditors of OHO -- Das herzliche Einrichtungshaus GmbH have
until April 3, to register their claims with court-appointed
provisional administrator Frank Ruediger Scheffler.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on May 16, 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 Dresden
         Saal D131
         Olbrichtplatz 1
         01099 Dresden

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

The District Court of Dresden opened bankruptcy proceedings
against OHO -- Das herzliche Einrichtungshaus GmbH on Feb. 28.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:
         
         OHO -- Das herzliche Einrichtungshaus GmbH
         Aussere Bautzener Str. 16
         02708 Lobau

The administrator can be contacted at:

         Frank Ruediger Scheffler
         C.-D.-Friedrich-Str. 6
         01219 Dresden
         Web: http://www.tiefenbacher.de/


PACHLER GMBH: Creditors' Meeting Slated for May 19
--------------------------------------------------
Court-appointed provisional administrator for Pachler GmbH,
Volker Dick, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 8:50 a.m., on
May 19.

The meeting of creditors and other interested parties will be
held at:

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

Creditors have until April 4, to register their claims with the
court-appointed provisional administrator.

The Court will also verify the claims set out in the
administrator's report during this 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
Pachler GmbH on March 1.  Consequently, all pending proceedings
against the company have been automatically stayed.

The Debtor can be contacted at:

         Pachler GmbH
         Lohestr. 45
         53773 Hennef
         Attn: Robert Herbert Pachler, Manager
         Feldgarten 11b
         53757 St. Augustin

The administrator can be contacted at:

         Volker Dick
         Kolnstrasse 135
         53757 Sankt Augustin
         Tel: 02241/90600 and 21041
         Fax: 0224121048


PHOENIX KAPITALDIENST: Parties Reach Basic Agreement on Plan
------------------------------------------------------------
Investors of Phoenix Kapitaldienst could receive compensation
from the insolvent security-trading bank before the end of this
year, Reinhard Honighaus writes for the Financial Times
Deutschland.

According to the report, Frank Schmitt, in his capacity as the
bank's insolvency administrator, reached a basic agreement
regarding an insolvency proposal with the creditors' committee
and the investors' representatives on Tuesday.  Mr. Schmitt
expects to present a detailed plan by the end of July.

Phoenix Kapitaldienst is a German security-trading bank, which
owed up to EUR230 million in debts.  Following approval of the
plan, Mr. Honighaus suggests that the bank's 30,000 investors,
who were victims of the fraud scandal, could receive their first
payments within the year.


RHEUMA-KURKLINIK: Claims Registration Ends April 4
--------------------------------------------------
Creditors of Rheuma-Kurklinik Schaumburg GmbH & Co.
Betriebsgesellschaft Bad Nenndorf KG have until April 4, to
register their claims with court-appointed provisional
administrator Matthias Lehmann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:40 a.m. on May 9, 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 Bueckeburg
         Saal 504
         Schulstr. 2
         31675 Bueckeburg

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

The District Court of Bueckeburg opened bankruptcy proceedings
against Rheuma-Kurklinik Schaumburg GmbH & Co.
Betriebsgesellschaft Bad Nenndorf KG on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:
         
         Rheuma-Kurklinik Schaumburg GmbH & Co.
         Betriebsgesellschaft Bad Nenndorf KG
         Horster Str. 17
         31542 Bad Nenndorf
         Attn: Bernhard Seng, Manager
         Wasserturm 9
         31303 Burgdorf

The administrator can be contacted at:

         Matthias Lehmann
         Mindener Str. 6
         31675 Bueckeburg
         Tel: 05722/1016
         Fax: 05722/1018


SMW VERMOGENSTREUHAND: Claims Registration Ends April 3
-------------------------------------------------------
Creditors of SMW Vermogenstreuhand GmbH & Co. Schloss
Sonnenstein KG have until April 3, to register their claims with
court-appointed provisional administrator Dr. Hans von
Gleichencstein.

Creditors and other interested parties are encouraged to attend
the meeting at 10:00 a.m. on May 2, 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 Muenchen
         Sitzungssaal 102
         Infanteriestr. 5

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

The District Court of Muenchen opened bankruptcy proceedings
against SMW Vermogenstreuhand GmbH & Co. Schloss Sonnenstein KG
on Feb. 20.  Consequently, all pending proceedings against the
company have been automatically stayed.

The Debtor can be contacted at:
         
         SMW Vermogenstreuhand GmbH & Co. Schloss Sonnenstein KG
         Ismaninger Str. 17-19
         81675 Muenchen

The administrator can be contacted at:

         Dr. Hans von Gleichenstein
         Rottmannstr. 11a
         80333 Muenchen
         Tel: 089/5427300
         Fax: 089/54273015


TH. PETERS: Creditors' Meeting Slated for April 25
--------------------------------------------------
Court-appointed provisional administrator for Th. Peters
Dachtechnik und Holzbau GmbH, Dr. Gerrit Holzle, will present
his first report on the Company's insolvency proceedings at a
creditors' meeting at 10:00 a.m., on April 25.

The meeting of creditors and other interested parties will be
held at:

         The District Court of Kleve
         Sitzungssaal C 58
         Schlossberg 1
         47533 Kleve

Creditors have until April 4, to register their claims with the
court-appointed provisional administrator.

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

The District Court of Kleve opened bankruptcy proceedings
against Th. Peters Dachtechnik und Holzbau GmbH on March 7.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Th. Peters Dachtechnik und Holzbau GmbH
         Zuelpicher Strasse 6
         40549 Duesseldorf
         Attn: Theo Peters jun., Manager
         Gewerbering 38 a
         47623 Kevelaer

The administrator can be contacted at:

         Dr. Gerrit Holzle
         Rheinstrasse 75
         47623 Kevelaer


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


EIRJET: Airport Drops Windup Petition After Full Payment Receipt
----------------------------------------------------------------
Shannon-based Eirjet narrowly avoided a possible liquidation
after the Durham Tees Valley Airport withdrew its petition to
have the charter airline wound up, Businessworld says.

The High Court in Shannon was scheduled to hear the petition on
Monday, March 27.  Durham Tees withdrew the petition following
its receipt of Eirjet's payment of an undisclosed debt in full.  

According to the report, the airline's co-founder Paul Schutz
told the Sunday Tribune that the dispute was "a hiccup" over a
debt, which had "got further than it should have".

Headquartered in Shannon, Ireland, Eirjet --
http://www.eirjet.com/-- was founded by ex-Ryanair accountant  
Paul Schutz and a number of former directors from the Irish
airline Skynet, which went into examinership last year.


ELAN CORPORATION: Re-Initiates Trial Dosing of TYSABRI(R)
---------------------------------------------------------
Biogen Idec and Elan Corporation, Plc enrolled and dosed the
first patients in the TYSABRI(R) (natalizumab) monotherapy
safety extension study program in multiple sclerosis (MS).  

Patients who previously participated in the Phase III MS trials
and subsequent safety evaluation are eligible to be screened for
entry in this open label multi-center study.  Sites throughout
Europe, the United States, Canada, Australia, New Zealand and
Israel are expected to enroll patients.  This safety extension
study is being conducted under a U.S. Food and Drug
Administration (FDA) Investigational New Drug application in the
U.S. and similar investigational approvals internationally.

Biogen Idec and Elan had previously voluntarily suspended
TYSABRI from the U.S. market and dosing in all ongoing clinical
trials based on reports of progressive multifocal
leukoencephalopathy, a rare and potentially fatal, demyelinating
disease of the central nervous system.  Biogen Idec and Elan
completed a comprehensive safety evaluation of more than 3,000
TYSABRI patients in collaboration with leading experts in PML
and MS.  The results of the safety evaluation yielded no new
confirmed cases of PML beyond the three previously reported.

On March 8, the Peripheral and Central Nervous System Drugs
Advisory Committee of the FDA voted unanimously to recommend
reintroduction of TYSABRI as a treatment for relapsing forms of
MS.  The companies anticipate action by the FDA regarding the
reintroduction of TYSABRI in the U.S. on or before June 28,
2006.  The companies' application for approval of TYSABRI as a
treatment for MS is also under review with the European
Medicines Agency.

                      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 the Company

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.


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


IMPREGILO SPA: Hikes Net Loss & Cuts Total Debt in 2005
-------------------------------------------------------
The Board of Directors approved the Impregilo S.p.A. and Group
2005 consolidated financial statements to be presented to the
Shareholders' Meeting convened for April 28, 2006 (first call)
and May 3, 2006 (second call).   

Consolidated net sales totaled EUR2.4 billion, compared to
EUR2.9 billion in 2004.  The decrease from the earlier year
arose from a general downturn in sales volumes, the de-
consolidation of some operations and the absence of
extraordinary items recognized in 2004.  The result is not seen
as a cause for concern given the acquisition of important new
projects currently being formalized in the Construction
business.  
  
The Group posted a consolidated operating loss of EUR254.4
million.  A significant factor in the result was the aggregate
operating loss (EUR260 million) of the non-core businesses
(Building & Services, Campania MSW Project, Imprepar in
liquidation), which are being sold/retired or are in
liquidation.  

There was a significant improvement in financial income and
expense as a result of the financial restructuring, which
reduced financial expense in respect of banks, bondholders and
other providers of finance by approximately EUR32.4 million.  

Impregilo posted a consolidated net loss of EUR358.2 million, of
which EUR295 million related to losses on the non-core
businesses and EUR125 million to restructuring projects
involving provisions and write-downs in the core businesses:
Construction (major infrastructures, headed by Impregilo
S.p.A.), Plant (desalination, smoke treatment, waste to energy
conversion, environmental reclamation, headed by the
subsidiaries Fisia Italimpianti and Fisia Babcock) and
Concessions (headed by the subsidiary Impregilo International
Infrastructure N.V.).  

The consolidated loss does not include the gain, for an
estimated EUR100 million, expected from the sale of the
Costanera Norte motorway concession in Chile, on which a binding
agreement was reached in December 2005 with the buyers
(Autostrade S.p.A. and SIAS).  The final contracts were signed
on March 15 last, although they are still subject to a number of
conditions, which are expected to be fulfilled shortly.  

Net debt at Dec. 31, 2005 was EUR489.3 million (not including
net debt on discontinued operations), and was down by EUR672
million from Dec. 31 2004.  During the year, share capital was
increased by EUR651.9 million.  

Shareholders' equity at Dec. 31, 2005 amounted to EUR516.7
million, an increase of EUR305 million from Dec. 31, 2004.

A copy of Impregilo's 2005 Results can be viewed at:
http://bankrupt.com/misc/Impregilo_2005.pdf

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.


IMPREGILO SPA: Signs EUR4 Billion Messina Bridge Deal
-----------------------------------------------------
The Stretto di Messina company and Impregilo, the lead company
and agent for the temporary group of companies, has signed the
contract assigning final and executive project planning and
construction of the bridge over the Straits of Messina, and
related rail and road links, to the General Contractor.

The contract is worth EUR3.9 billion.  It envisages ten months
of work on the final and executive projects and five years of
construction work.  

The other members of the temporary group of companies led by
Impregilo S.p.A. with a 45% share are:

   -- Spain's Sacyr S.A. (18.70%),

   -- the Italian companies Societ. Italiana per Condotte
      D'Acqua S.p.A. (15%) and Cooperativa Muratori &
      Cementisti-C.M.C. of Ravenna (13%),

   -- Japan's Ishikawajima-Harima Heavy Industries Co. Ltd.
      (6.30%),

   -- Consorzio Stabile A.C.I. S.c.p.a (2%).  

The General Contractor will also be assisted by the Danish and
Canadian companies Cowi A/S, Sund & Baelt A/S and Buckland &
Taylor Ltd., who will be handling project engineering.

"The signature of the contract is the logical conclusion of the
bid procedure after the final award decided by the Board of
Directors of Stretto di Messina and the recent ruling of the
regional administrative tribunal of Lazio rejecting the request
for suspension," commented Pietro Ciucci, Chief Executive
Officer of Stretto di Messina.

"In view of the value of the contract -- more than EUR4 billion
-- and the unique nature of the project, this was an extremely
complex operation and involved countless national and
international players."

"The first task for the General Contractor is to draw up the
final project," Mr. Ciucci added.  "I am certain they will work
closely with Stretto di Messina and the local authorities to
take account of requirements and indications.  At the same time,
plans will also be drawn up for the ancillary works to be built
in the area in which the bridge will be constructed, in order to
optimize the social and economic effects of the bridge project
for the local community.  In parallel, the General Contractor
will have to set up a local team and, as provided by the
contract, organize the necessary professional training for local
personnel.  Completion of the final project, approval by
Stretto di Messina and the start-up of the procedure prescribed
under Italian law for final approval by the inter-ministerial
economic planning committee should all take place by the end of
2006."

"We are delighted that with the closing of the contract we can
begin work on project development," said Alberto Lina, Impregilo
Chief Executive Officer.  

"On one hand this is an important opportunity for infrastructure
development and job creation in Sicily and Calabria; on the
other, it provides Italian engineering and research with a
unique showcase, here in Italy, for their expertise in the
planning and construction of complex and technologically
advanced infrastructures like the Straits of Messina Bridge."

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.


ITALTRACTOR: S&P Withdraws Junk Ratings at Company's Request
--------------------------------------------------------------
Standard & Poor's Ratings Services has withdrawn its 'CCC' long-
term corporate credit rating on Italy-based machinery component
maker Italtractor ITM SpA at the company's request.  

At the same time, the 'CC' debt rating was withdrawn on the
EUR100 million senior unsecured notes due Jan. 22, 2008, issued
by Italtractor ITM S.A. and guaranteed by Italtractor ITM SpA.
Italtractor has been entirely acquired by U.K.-based Titan
Europe PLC (not rated).  The ratings had been on CreditWatch
with developing implications since Dec. 13, 2005, when Titan
announced its takeover bid.


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


AIGERIM: Akmola Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Specialized Inter-Regional Economic Court of Akmola Region
commenced bankruptcy proceedings against LLP AIGERIM on Jan. 9.  

CONTACT:  Specialized Inter-Regional
          Economic Court of Akmola Region
          Akolskei District, Bogenbai
          Akmola Region


AR-DOS: Creditors Must File Claims by April 7
---------------------------------------------
LLP Ar-Dos has declared insolvency.  Creditors have until
April 7, to submit written proofs of claim to:

          Auezova Str. 52b
          Atyrau


KAZSERVICESTROI: Pavlodar Court Opens Bankruptcy Proceedings
----------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar Region
commenced bankruptcy proceedings against LLP KAZSERVICESTROI on
Jan. 31.


MAVR & K: Karaganda Court Opens Bankruptcy Proceedings
------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region commenced bankruptcy proceedings against LLP Mavr & K.


NAKYP-ASTANA: Creditors Must File Claims by April 7
---------------------------------------------------
LLP Nakyp-Astana has declared insolvency.  Creditors have until
April 7, to submit written proofs of claim to:

          Micro District 1, 4-32
          Astana


STALTREID-PAVLODAR: Pavlodar Court Opens Bankruptcy Proceedings
---------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Pavlodar Region
commenced bankruptcy proceedings against LLP Staltreid-Pavlodar
on Jan. 31, 2006.


TRANSLUKS: Karaganda Court Opens Bankruptcy Proceedings
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region commenced bankruptcy proceedings against LLP Transluks.


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


NETIA SA: Transfers Netia Ventures' Stake to P4 Sp. z o. o.
-----------------------------------------------------------
Netia SA (WSE: NET) transferred to P4 Sp. z o.o., with its seat
in Warsaw, ownership of 100 shares of Netia Ventures Sp. z o.o.,
with its seat in Warsaw, with total nominal value PLN50,000,
representing 100% of the share capital and authorizing their
holder to exercise 100 of votes at the shareholders' meeting of
Netia Ventures.

The shares have been sold based on a share sale agreement dated
March 24, for the total price of PLN75,000.  According to the
provisions of the Agreement, the ownership of the shares was
transferred to P4 upon receipt of the purchase price payment.  
Currently, Netia Ventures does not run and has never been
running any commercial activity.  

Netia holds 30% of the share capital of P4 through Netia Mobile
Sp. z o.o., its 100% subsidiary.  The remaining 70% of P4's
share capital is held by Novator Telecom Poland S.a.r.l., which,
similarly to Novator Telecom Poland II S.a.r.l., Netia's
shareholder, is 100% subsidiary of Novator One L.P.  The
position of the Chairman of the Supervisory Board of P4 is held
by Wojciech Madalski, President of Netia's Management Board.

Headquartered in Warsaw, Poland, Netia SA (B+/Stable/--) --
http://netia.pl/-- is the leading alternative fixed-line  
telecommunications operator in Poland.  It operates on the basis
of its own, state-of-the-art fiber-optic backbone network that
connects the largest Polish cities as well as its local access
networks.  Netia provides a broad range of telecommunications
services, including voice, data and network wholesale services.


NETIA SA: Adopts Dividend Payout & Restructures Board
-----------------------------------------------------
Netia SA (WSE: NET) disclosed that its Ordinary Shareholders'
Meeting held on March 29, adopted resolutions concerning, among
others:

   -- the dividend payout of PLN0.13 per share;

   -- changes within the composition of Netia's Supervisory
      Board; and

   -- redemption of 28,162,110 treasury shares.

The AGM dismissed Hubert Janiszewski as Chairman and member of
Netia's Supervisory Board and thanked him for his personal
involvement and contribution towards the Company's development.

The AGM appointed Raimondo Eggink, Constantine Gonticas, Bruce
McInroy and Pantelis Tzortzakis to Netia's Supervisory Board.

As a result of these changes, Netia's Supervisory Board
currently consists of seven members:

   -- Raimondo Eggink,
   -- Constantine Gonticas,
   -- Boguslaw Kasprzyk,
   -- Alicja Kornasiewicz,
   -- Bruce McInroy,
   -- Andrzej Radziminski, and
   -- Pantelis Tzortzakis.

                  About the New Board Members

Raimondo Eggink has been acting as an independent consultant and
trainer for financial market players since 2002.  He is a member
of the Warsaw Stock Exchange's Supervisory Board and a member of
the Supervisory Boards of Mostostal Plock SA, PKN Orlen SA and
HOOP SA.  He used to serve on the Supervisory Boards of Stomil
Olsztyn SA, Wilbo SA, Swarzedz Meble SA and Perla-Browary
Lubelskie SA.

Previously, Raimondo Eggink was a Management Board member,
Investment Director, President of the Management Board, and,
recently, a Liquidator at ABN AMRO Asset Management (Polska) SA,
a company that managed the assets of Polish institutional
investors and affluent individuals, which ceased operations in
2001.  He started his career in 1995 in the Warsaw branch of ING
Bank N.V., where he played a significant role in the
establishment of Poland's first asset management fund.  
During 1995-1997 Raimondo Eggink was Vice-President of the
Brokers' and Advisors' Council.  He graduated from the
Jagiellonian University in Cracow with a degree in Theoretical
Mathematics in 1994.  He obtained an investment advisor's
license in March 1995.  In 2000, the Association for Investment
Management and Research (currently: the CFA Institute) awarded
him with the title of Chartered Financial Analyst (CFA) and,
since 2004, Raimondo Eggink has served as a member of the
Management Board of the CFA Society of Poland.  He has published
a number of articles on the development of the Polish capital
market, in particular, on the protection of minority
shareholders.

Raimondo Eggink is a Dutch citizen permanently domiciled in
Poland.  He does not conduct directly or through legal entities
any activities that would compete with the activities of Netia.  
He is not a partner in civil law company or any partnership, nor
a member of any authorities of any corporation or any other
competitive legal entity.  He has not been registered in the
Non-Solvent Debtors Register kept pursuant to the National Court
Register Act.

Bruce McInroy serves currently as a Partner of Novator LLP, the
London based investment manager which specialises in telecoms,
financial services and generic pharmaceuticals.  Novator has a
particular focus on Emerging Europe.  Bruce McInroy is also a
member of the Supervisory Board of P4, the fourth mobile
operator in Poland; Director of Forthnet, the Greek alternative
telecoms operator; Non-executive Director of QXL plc, the
internet auction company, and of Be Unlimited, the high-speed UK
broadband operator.

He started his professional career as an engineer with British
Telecom, followed by equities research in London in UK and
European electronics and telecoms sectors, followed by
investment banking with Deutsche Bank and Merrill Lynch,
specialising in the telecoms sector.  Bruce McInroy graduated
from Cambridge University, England, with MA, Honours, in
Computer Science.

He does not conduct directly or through legal entities any
activities that would compete with the activities of Netia.  He
is not a partner in civil law company or any partnership, nor a
member of any authorities of any corporation or any other
competitive legal entity.  He has not been registered in the
Non-Solvent Debtors Register kept pursuant to the National Court
Register Act.

Constantine Gonticas holds the position of Managing Partner of
Novator Partners LLP.  He serves also as Deputy Chairman of
Forthnet SA (Greece), Board Member of Be Unlimited (UK) and
Millwall Holdings Plc (UK) and Supervisory Board Member of P4
Sp. z o.o. (Poland) and Ceske Radiokomunikace (Czech Republic).  
During 1988-2000 he was employed at Credit Suisse First Boston,
London.  Between 2000 and 2004 he worked for Merrill Lynch,
London.  Since 2004 he has been employed at Novator Partners
LLP, London.  Constantine Gonticas graduated in Law from Oxford
University in 1988.

He does not conduct directly or through legal entities any
activities that would compete with the activities of Netia.  He
is not a partner in civil law company or any partnership, nor a
member of any authorities of any corporation or any other
competitive legal entity.  He has not been registered in the
Non-Solvent Debtors Register kept pursuant to the National Court
Register Act.

Pantelis Tzortzakis serves as CEO of FORTHnet S.A., one of the
leading telecom companies in Greece.  He is the founder of the
company, starting from FORTH IT Institute in 1987, where he
undertook to transform FORTHnet from a research activity to a
company, attracting investment capital from the private sector.  
In parallel he was working for the Computer Science department
of the University of Crete.

From 1987 to 1995, he was an active member of the "EBONE",
"RIPE" and "EARN/BITNET" International Network Committees.  
He was also employed as Assistant IT Professor at Heraklion TEI
- Technological & Profession Institute (1988 - 1994).

He has been the company's Managing Director since its
establishment.  He is also member of the Board of Directors of
MINOAN LINES and I.N.A. S.A.

Pantelis Tzortzakis has been Vice-Chairman of the Board of
Directors of SEPE (Federation of Hellenic Information Technology
Communications Enterprises) since 2003, responsible for
Telecommunications and Internet, and currently represents SEPE
as a member of the Board of Directors of KETEP (Centre for
Communication and Information Technology applications).

He studied Business Administration at the University of Piraeus
and Computer Science at a post-graduate level at Brooklyn
College, The City University of New York.

He does not conduct directly or through legal entities any
activities that would compete with the activities of Netia.  He
is not a partner in civil law company or any partnership, nor a
member of any authorities of any corporation or any other
competitive legal entity.  He has not been registered in the
Non-Solvent Debtors Register kept pursuant to the National Court
Register Act.

                     Dividend Payment

In addition, Netia disclosed, in connection with the adopted
resolution on the dividend payment, that subscriptions for
Netia's series J shares authorized from the three-year
subscription warrants will not be accepted during seven
consecutive days from April 13, to April 20, (inclusive), i.e.,
in accordance with par. 24.3.2 chapter III of the Polish
prospectus of Netia's notes and shares dated April 17, 2002.  

Headquartered in Warsaw, Poland, Netia SA (B+/Stable/--) --
http://netia.pl/-- is the leading alternative fixed-line  
telecommunications operator in Poland.  It operates on the basis
of its own, state-of-the-art fiber-optic backbone network that
connects the largest Polish cities as well as its local access
networks.  Netia provides a broad range of telecommunications
services, including voice, data and network wholesale services.


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


AGRO-KHIM: Bankruptcy Hearing Set for May 4
-------------------------------------------
The Arbitration Court of Kostroma Region will convene on May 4,
to hear the bankruptcy supervision procedure on open joint stock
company Agro-Khim.  The case is docketed as A31-643/2006-12.

Mr. V. Krasnov has been appointed temporary insolvency manager.

The Debtor can be reached at:

         Agro-Khim
         Buyskiy Region
         Kostroma Region, Russia

The insolvency manager can be reached at:

         V. Krasnov
         Kostroma-14
         Post User Box 24, Russia


BELEV-AGRO-SERVICE: Claims Filing Period Ends April 18
------------------------------------------------------
Creditors of Belev-Agro-Service have until April 18, to submit
their proofs of claim to court-appointed insolvency manager, Mr.
Y. Laptev at:

         Room 326, Turgenevskaya Str. 69
         300041, Tula Region, Russia
         Tel: 8-4872-38-06-74

The Arbitration Court of Tula Region commenced bankruptcy
proceedings against the open joint stock company with the case
docketed as A68-101/B-05.

The Debtor can be reached at:

         Belev-Agro-Service
         Belev, Rabochaya Str. 105
         301530, Tula Region, Russia  


KALININSKOYE: Proofs of Claim Deadline Set April 18
---------------------------------------------------
Creditors of Kalininskoye have until April 18, to submit their
proofs of claim to court-appointed insolvency manager, Mr. V.
Vinogradov at:

         50 Let Profsoyuzov Str. 61
         644065, Omsk Region, Russia

The Arbitration Court of Omsk Region commenced bankruptcy
proceedings against the close joint stock company with the case
docketed as K/E-104/05.

The Debtor can be reached at:

         Kalininskoye
         Russko-Polyanskiy Region, Kalinino
         646792, Omsk Region, Russia


KHABAROVSKIY: Undergoes Bankruptcy Supervision Procedure
--------------------------------------------------------
The Arbitration Court of Khabarovsk Region has commenced
bankruptcy supervision procedure on open joint stock company
Khabarovskiy.  The case is docketed as A73-19107/05-38.

Mr. A. Mikhaylovskiy has been appointed temporary insolvency
manager.

The Debtor can be reached at:

         Khabarovskiy
         Voronezhskiy Pr. 12
         Khabarovsk Region, Russia

The insolvency manager can be reached at:

         A. Mikhaylovskiy
         Office 318
         Leningradskaya Str. 28, ABK #8
         680013, Khabarovsk Region, Russia


SOVIETSKO-GAVANSKAYA: V. Rybyakov Named Insolvency Manager
----------------------------------------------------------
The Arbitration Court of Khabarovsk Region appointed Mr. V.
Rybyakov as temporary insolvency manager for Sovietsko-
Gavanskaya Shipyard.

The Court has commenced bankruptcy supervision procedure on
limited liability company.  The case is docketed as A73-
18563/2005-38.

The Debtor can be reached at:

         Sovietsko-Gavanskaya Shipyard
         Sovetskaya Gavan, Korabelnaya Str. 6
         682880, Khabarovsk Region, Russia

The insolvency manager can be reached at:

         V. Rybyakov
         Post User Box 75/17
         680030, Khabarovsk Region, Russia


SUKHOVSKOYE: Bankruptcy Hearing Set for May 12
----------------------------------------------
The Arbitration Court of Krasnoyarsk Region will convene on
May 12, to hear the commenced bankruptcy supervision procedure
on close joint stock company Sukhovskoye.  The case is docketed
as A33-28830/2005.

Mr. D. Makhov has been appointed temporary insolvency manager.

The Debtor can be reached at:

         Sukhovskoye
         Taseevskiy Region, Sukhovo
         Krasnoyarsk Region, Russia

The insolvency manager can be reached at:

         D. Makhov
         Post User Box 910
         660043, Krasnoyarsk Region, Russia


SYCHEVKA: Deadline for Proofs of Claim Set for April 18
-------------------------------------------------------
Creditors of Sychevka have until April 18, to submit their
proofs of claim to the court-appointed insolvency manager, Mr.
A. Mamnev at:

         Main Post Office, Post User Box 281
         214000, Smolensk Region, Russia

The Arbitration Court of Smolensk Region commenced bankruptcy
proceedings against the open joint stock company with the case
docketed as A62-1802/2005 (645-N/05).

The Debtor can be reached at:

         Sychevka
         Sychevskiy Region, Maltsevo
         215258, Smolensk Region, Russia


TRANSIT: Appoints S. Korzhov Insolvency Manager
-----------------------------------------------
The Arbitration Court of Saratov Region appointed Mr. S. Korzhov
insolvency manager for Transit.

The Court commenced bankruptcy proceedings against the limited
liability company with the case docketed as A57-188B/05-31.

The Debtor can be reached at:

         Transit
         Pugachev, Lesozashitnaya Str. 1
         413720, Saratov Region, Russia

The insolvency manager can be reached at:

         S. Korzhov
         Saratov-12, Post User Box 902
         410012, Russia


URALTRANSBANK: Fitch Puts B- on Issuer Default Rating
-----------------------------------------------------
Fitch placed Russia-based Uraltransbank's ratings at Issuer
Default B-, National Long-term BB+, Short-term B, Individual D
and Support 5.  The Outlooks on both Issuer Default and National
Long-term ratings are Stable.

The affirmation follows the recent criminal charges brought
against the bank's Chairman and majority owner- Valery Zavodov -
concerning alleged granting of loans on non-market terms, and
resultant negative publicity for the bank in the local
Ekaterinburg and national media.  

Fitch comments that, notwithstanding these events, the bank's
liquidity has held up relatively well, with outflows limited to
approximately 6% of customer funds during the first two weeks of
March, and the situation stabilizing since then.  Fitch also
notes that the bank's Chairman, management and supervisory board
have vigorously challenged the charges brought.

Fitch notes that should any escalation of the current situation
result in further negative publicity and pressure on the bank's
liquidity, the ratings could see a negative impact.  Although
liquidity risk management is relatively prudent at UTB, with a
minimum 25% of assets held in cash equivalents, and granting of
larger corporate loans has been temporarily suspended in order
to support liquidity, the bank is ultimately dependent on
customers' loyalty and lacks immediate refinancing sources.

Furthermore, the bank's decision-making processes are currently
heavily dependent on the Chairman and could be significantly
disrupted should his participation temporarily not be possible.

More generally, UTB's ratings reflect its moderate core
earnings, tightening capital ratios and relatively small size,
while also considering its well-developed retail and SME
franchises in its local region.  Asset quality has been
acceptable to date, but deteriorated to some extent in 2005.

Loan concentrations, although significant, are moderate for the
Russian market.  Fitch will complete a full review of UTB's
ratings following the publication of the 2005 IFRS financial
statements and meetings with the bank's management.

Uraltransbank is a small bank, well recognized in its home
region and focused on retail and SME customers.  Further
penetration of the broader Urals Federal District of Russia is
planned for 2006.  The bank is ultimately controlled by Mr.
Zavodov, who is also the Chairman of the management board, while
the EBRD has owned a blocking stake of 25% + 1 share since Q404.


YUKOS OIL: Court Bans Asset Sale Absent Manager's Permission
------------------------------------------------------------
The Moscow Arbitration Court has banned Yukos Oil Company from
selling its assets worth more than RUB30 million without
permission from court-appointed external manager Eduard Rebgun.

Mr. Rebgun sought the additional measure to ensure security of
the company's property, RosBusinessConsulting says.

As reported in TCR Europe on March 17, the Hon. Pavel Markov
placed OAO Yukos Oil Co. under temporary outside supervision
until June 27, when he will consider whether to liquidate the
company.

Yukos lawyer Drew Holiner said March 28 that temporary managers
will be able to disallow sales exceeding 5% of the company's
worth without giving a monetary figure, Bloomberg News relates.

The court ruling came in light of Yukos' attempts to sell its
53.7% stake in AB Mazeikiu Nafta to the Lithuanian government
for not less than US$1 billion, proceeds from which will be used
to pay off parts of its outstanding debts.

               State Eyes Nationalization for Yukos Unit

Lithuania Prime Minister Algirdas Brazauskas told radio Ziniu
Radijas that the government could nationalize Yukos' unit absent
any other alternative.

"If matters don't improve, the government will submit to the
parliament a bill on Mazeikiu's nationalization," Mr. Brazauskas
said.

The prime minister expects Yukos to sign the sale agreement by
early next week.  Yukos' chief executive officer Steven Theede
will meet with Lithuanian representatives in Vilnius today,
March 31, Economy Ministry spokeswoman Orijana Jakimauskiene
told Bloomberg.  The ministry is running the sale.

According to Bloomberg, Juodeikiai-based Mazeikiu accounts for
about 20% of the economy in Lithuania, which joined the European
Union in 2004, and is the only oil refinery in the Baltic
region.

Lithuania owns 41% in the refinery and, following the proposed
purchase of Yukos' stake, plans to sell 75% to another foreign
investor, according to published reports.  Russia's two biggest
oil companies, Lukoil (with ConocoPhillips) and TNK-BP, Poland's
PKN-BP and Kazakhstan's KazMunaiGas have participated in the
bidding race.

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.

Roughly a year after the U.S. Bankruptcy Court dismissal, a
consortium of 14 bank lenders led by Societe Generale SA, filed a
new bankruptcy suit in the Moscow Arbitration Court on March 10
in an attempt to recover the remainder of a US$1 billion debt under
outstanding loan agreements.


ZALESSKIY: Cheese Factory Under Bankruptcy Supervision
------------------------------------------------------
The Arbitration Court of Kaliningrad Region has commenced
bankruptcy supervision procedure on cheese factory Zalesskiy.  
The case is docketed as A21-10162/05.  

Mr. V. Babkov has been appointed temporary insolvency manager.

The Debtor can be reached at:

         Zalesskiy
         Polesskiy Region, Zalesye
         Kaliningrad Region, Russia

The insolvency manager can be reached at:

        V. Babkov
        Post Office, Post User Box 381
        170100, Tver Region, Russia
        Tel: (4822) 349643


ZYRYANSKAYA: Bankruptcy Hearing Set April 14
--------------------------------------------
The Arbitration Court of Sakha republic  - Yakutiya will convene
at 10 a.m., on April 14, to hear the bankruptcy supervision
procedure on Zyryanskaya.  The case is docketed as A58-7694/05.

Mr. A. Arbatskiy has been appointed temporary insolvency
manager.

The Debtor can be reached at:

        Zyryanskaya
        Verkhnekolymskiyulus, Zyryanka, Naberezhnaya, 34
        Sakha republic  - Yakutiya, Russia

The insolvency manager can be reached at:

        A. Arbatskiy
        Room 25, Petrovskogo 21/2
        677008, Yakutiya Region, Russia


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


BK EVROGRAD: Kyiv Court Opens Bankruptcy Proceedings
----------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC BK Evrograd (code EDRPOU 32830507) on
Feb. 15, after finding the company insolvent.  The case is
docketed as 43/94.

Mr. I. Trudnenko has been appointed Liquidator/Insolvency
Manager.

CONTACT:  BK Evrograd
          Tankova Str. 4
          Ukraine, Kyiv Region

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


DAKO-SERVICE: Kyiv Court Opens Bankruptcy Proceedings
-----------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC Dako-Service (code EDRPOU 33229287) on
Feb. 3, after finding the company insolvent.  The case is
docketed as 43/27.

Mr. O. Slobodenyuk has been appointed Liquidator/Insolvency
Manager.

CONTACT:  DAKO-SERVICE
          Kioto Str. 25
          Ukraine, Kyiv Region

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


KORAL: Kyiv Court Opens Bankruptcy Proceedings
----------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC Trade Group Koral (code EDRPOU 32984753)
on Feb. 15, after finding the company insolvent.  The case is
docketed as 43/93.  

Mr. Leshenko O. has been appointed Liquidator/Insolvency
Manager.

CONTACT:  Koral
          Pilipivskij Lane 4
          Ukraine, Kyiv Region

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


NADIYA: Ivano-Frankivsk Court Opens Bankruptcy Proceedings
----------------------------------------------------------
The Economic Court of Ivano-Frankivsk Region commenced
bankruptcy proceedings against Agricultural LLC Nadiya (code
EDRPOU 31290020) on Jan. 13, after finding the company
insolvent.  The case is docketed as B-7/235.

Mr. Kostyuk Volodimir has been appointed Liquidator.

CONTACT:  NADIYA
          Tismenitskij district,
          Roshiv, Zarizhna Str. 33
          Ukraine, Herson Region

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


OTAVA: Harkiv Court Opens Bankruptcy Proceedings
------------------------------------------------
The Economic Court of Harkiv Region commenced bankruptcy
proceedings against Agricultural LLC Otava (code EDRPOU
30758618) on Feb. 6, after finding the company insolvent.  The
case is docketed as B-48/06-06.

Mr. Oleksandr Dusik has been appointed Liquidator/Insolvency
Manager.

CONTACT:  OTAVA
          Bliznyukivskij district, Sofiyivka-1
          64871, Ukraine, Harkiv Region

          Mr. Oleksandr Dusik
          Liquidator/Insolvency Manager
          Lozova, m-n 6, 2a/56
          64604, Ukraine, Harkiv Region
          Tel: 8 (0574) 52-60-07

          Economic Court Of Harkiv Region
          Svobodi Square 5, Derzhprom 8th Entrance
          61022, Ukraine, Harkiv Region


TEHNOBUD SERVICE: Kyiv Court Starts Bankruptcy Supervision
----------------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
supervision procedure on LLC TEHNOBUD SERVICE (code EDRPOU
32982473).  The case is docketed as 43/931.

Mr. O. Sherban has been appointed temporary insolvency manager.

CONTACT:  Tehnobud Service
          Sichnevogo Povstannya Str. 34
          01015, Ukraine, Kyiv Region

          Mr. O. Sherban
          Temporary Insolvency Manager
          01030, Ukraine, Kyiv Region, a/b 157

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


TPK ZETTA: Kyiv Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC TPK Zetta (code EDRPOU 33350169) on
Feb. 15, 2006 after finding the company insolvent.  The case is
docketed as 43/92.

Mr. I. Movchan has been appointed Liquidator/Insolvency Manager.

CONTACT:  TPK ZETTA
          Bluher Str. 11
          Ukraine, Kyiv Region

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


VITA-NOVA: Kyiv Court Opens Bankruptcy Proceedings
--------------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC Vita-Nova (code EDRPOU 33297928) on
Feb. 3, 2006 after finding the company insolvent.  The case is
docketed as 43/26.

Mr. V. Kohan has been appointed Liquidator/Insolvency Manager.

CONTACT:  Vita-Nova
          Elektrotehnichna Str. 4-A
          Ukraine, Kyiv Region

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


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


A1M STUDIOS: Hires Chantrey Vellacott to Administer Assets
----------------------------------------------------------
William John Turner and Kevin Anthony Murphy of Chantrey
Vellacott DFK LLP were appointed joint administrators of A1M
Studios Limited (Company Number 02570227) on March 10.  

Headquartered in Hove, East Sussex, Chantrey Vellacott DFK --
http://www.cvdfk.com/-- is one of the oldest firms of chartered  
accountants in the United Kingdom.  It provides accounting,
taxation and related advisory services.  

A1M Studios -- http://www.a1m.co.uk/-- operates a photographic  
studio.  It is one of the first photographic companies in the
U.K. to invest in Lambda Digital Printing.


BARON JON: Names Martin Henry Linton as Administrator
-----------------------------------------------------
Martin Henry Linton was appointed administrator of Baron Jon
Menswear Limited (Company Number 01383379) on Feb. 28.  

The administrator can be reached at:

         Brentmead House
         Britannia Road, London
         N12 9RU

Baron Jon Menswear Limited -- http://www.baronjon.com/-- sells  
business and leisurewear clothing for men.


BARRY ROSE: Joint Administrators from Buchanans Enter Firm
----------------------------------------------------------
Peter Anthony Hall and Alan Peter Whalley of Buchanans Plc was
appointed joint administrator of Barry Rose Law Publishers
Limited (Company Number 1204463) on March 8.

The joint administrators can be reached at:

         Buchanans Plc
         Latimer House
         5 Cumberland Place
         Southampton SO15 2BH
         Tel: 023 8022 1222

Headquartered in Chichester, Barry Rose Law Publishers Limited -
- http://www.barry-rose-law.co.uk/-- is an independent  
publishing house.  The firm's main interest is to publish legal
textbooks, which are of practical everyday worth as well as of
good academic quality.


BUSINESS MACHINE: BPT IP Appoints Deloitte & Touche Receiver
------------------------------------------------------------
BPT IP LLC appointed L. A. Manning and A. P. Peters of Deloitte
& Touche LLP joint administrative receivers of Business Machine
Realisations Limited (Company Number 1965650) on Feb. 21.

Headquartered in London, Deloitte & Touche LLP --
http://www.deloitte.com/-- is the United Kingdom member firm of  
Deloitte Touche Tohmatsu, a Swiss Verein whose member firms are
separate and independent legal entities.  It provides audit,
tax, consulting and corporate finance services through more than
9,000 people in 21 locations.  

Business Machine Realisations Ltd was previously named
Bridgeport Machines Limited.  The company manufactures machine
tools and can be reached at:

         P.O. Box 22
         Leicester
         LE5 0FJ
         Tel: +44 (116) 253 11 22


CLEAN GLO: Taps Joint Administrators from Vantis Numerica
---------------------------------------------------------
Colin Ian Vickers and Nicholas Hugh O'Reilly of Vantis Numerica
were appointed joint administrators of Clean Glo Limited
(Company Number 03030620) on March 16.

Headquartered in West Sussex, Vantis Numerica (nka Vantis plc) -
- http://www.vantisplc.com/-- provides accounting, business and  
tax advisory services in the United Kingdom.

Clean Glo Ltd can be reached at:

         Capel Lane Gossops Green
         Crawley RH11 8HL
         Tel: 01293 419085


CORUS GROUP: Brandes Investment Eyes 5.9% Equity Stake
------------------------------------------------------
Brandes Investment Partners, L.P., notified Corus Group plc on
March 27, that:

     (i) at the close of business on March 24, Brandes was
         interested for purposes of the Act in 5.9% of Corus
         Group plc ordinary shares and American Depository
         Receipts, each comprised in the relevant share capital,
         as defined in section 198(2) of the Act, of Corus Group
         plc;

    (ii) at the close of business on March 24, Brandes was
         interested for purposes of the Act in 198,808,088
         ordinary shares and in 6,449,132 American Depository
         Receipts, each comprised in the relevant share capital,
         as defined in section 198(2) of the Act, of Corus Group
         plc;

   (iii) the registered holders of all of the Relevant Shares in
         which Brandes has an interest for purposes of the Act
         are approximately 230 custodian banks unaffiliated with
         Brandes;

    (iv) none of the shares referred to in sub-paragraphs:

         (i) or (ii) are shares in which Brandes is interested
         by virtue of section 208(5) of the Act.

                        About Corus Group

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 the Troubled Company Reporter-Europe on March 23,
Fitch Ratings changed Corus Group PLC's Outlook to Positive from
Stable and affirmed the Issuer Default Rating at BB- following
the company's announcement of its 2005 results and plan to
dispose its aluminium business for EUR826 million.  Corus' debt
instruments are also affirmed as listed below.

  a) Corus Group PLC EUR800 mln 7.5% senior notes B+;
  b) Corus Group PLC EUR307 mln 3.0% convertible bonds B+;
  c) Corus Finance PLC GBP200 mln 6.75% guaranteed bonds B+; and
  d) Corus Finance PLC EUR20 mln 5.375% guaranteed bonds B+.


HIGHSTYLE DEVELOPMENTS: Creditors' Meeting Set Today
----------------------------------------------------
Creditors of Highstyle Developments Ltd (Company Number
04796967) will meet at 11 a.m., on March 31, at:

         Express Holiday Inn
         St Andrews Drive
         Glasgow Airport, Paisley
         PA3 2TJ

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted to the administrator T.
Papanicola at:

         Bond Partners LLP
         The Grange
         100 High Street
         London N14 6TG
         Tel: 020 8444 2000
         Fax: 020 8444 3400


H R WINSTON: Calls In Liquidator from Begbies Traynor
-----------------------------------------------------
Jamie Taylor, of Begbies Traynor, was appointed Liquidator after
members of H.R. Winston Limited decided to liquidate the
company's assets on Feb. 27.

H. Winston disclosed the company could no longer continue its
operations due to mounting debts.

H.R. Winston Limited can be contacted at:

          Gable House
          1 Balfour Road
          Ilford Essex
          IG1 4HP
          Tel: 020 8478 5947
          Fax: 020 8478 5434


KIDDERMINSTER ENGINEERING: Members Pass Winding Up Resolution
-------------------------------------------------------------
Members of Kidderminster Engineering Services Ltd passed a
resolution to wind up the company during an extraordinary
general meeting on Feb. 24.

They authorized Neil Charles Money and Geoff Robbins, of CBA, to
jointly administer the winding up proceedings.

Kidderminster Engineering Services Ltd can be reached at:

         Worcester Road
         Hoo Farm Industrial Estate
         Kidderminster Worcestershire
         DY11 7RA
         Tel: 01562 746 629
         Fax: 01562 515 043
         Web: http://www.kesltd.co.uk/


KIKI HI: Members Resolve to Voluntary Liquidation
-------------------------------------------------
Kiki Hi-Tek Limited is liquidating its assets after members
found out that the company could no longer continue its
operations due to financial liabilities.

Paul Appleton, of David Rubin & Partners, was appointed
Liquidator.

Kiki Hi-Tek Limited can be reached at:

         49 Downage
         London
         NW4 1HR
         Tel: 020 8203 4753


KINGSTREET MEDIA: Names Menzies Corporate Administrator
-------------------------------------------------------
Paul David Williams and Andrew Gordon Stoneman of Menzies
Corporate Restructuring were appointed joint administrators of
Kingstreet Media Group Limited (Company Number 05010445) on
March 16.

Headquartered in London, Menzies Corporate Restructuring --
http://www.menzies.co.uk/-- is a member of Moores Rowland  
International, an association of independent accounting firms
throughout the world with some 20,800 partners and staff,
operating from 628 offices in 92 countries. MRI, which is ranked
8th amongst the leading international accounting associations,
achieved global revenues of US$1,800 million in 2003.

Kingstreet Media Group Limited --
http://www.kingstreetmedia.com/-- is engaged in publishing  
sound recordings.


LEISURE LINE: Claims Registration Ends April 20
-----------------------------------------------
Leisure Line Contracts Limited is winding up its operations
after members decided to liquidate the company's assets on
Feb. 22.

Appointed Joint Liquidator, Jason James Godefroy, of Menzies
Corporate Restructuring, 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 April 20.

Leisure Line Contracts Limited can be contacted at:

         Moons Park
         Burnt Meadow Road
         Moons Moat North Ind Est Redditch Worcestershire
         B98 9PA
         Tel: 01527 594 800
         Fax: 01527 594 801
         Web: http://www.leisureline.co.uk/


LIFE SCIENCES: Equity Deficit Widens to $14.5 Million at Dec. 31
----------------------------------------------------------------
Life Sciences Research, Inc. (Other OTC: LSRI) reported its
financial results for the year ended Dec. 31, 2005.

The company reported US$1,491,000 of net income on
US$172,013,000 of revenues for the year ended Dec. 31, 2005.

At Dec. 31, 2005, the company's balance sheet showed
US$184,369,000 in total assets and US$198,937,000 in total
liabilities, resulting in a US$14,568,000 stockholders' deficit.

The company's Dec. 31 balance sheet also showed strained
liquidity with $63,265,000 in total current assets available to
pay $119,760,000 in liabilities coming due within the next 12
months.

"2005 was another great year of progress in improving our
financial performance with operating income up by one third on
2004, and now representing 12% of revenues," Brian Cass, LSR's
President said.

"Net orders for the year set a new record and we had a book to
bill ratio of 1.06.  This would have been even more but some
customers faced difficulties in the development of their
compounds so cancellations were unusually high this year."

"However such variations which impact quarterly results are a
feature of our business.  We approach 2006 with confidence and
optimism.  Order levels on fourth quarter were solid with a book
to bill of 1.13 and these will flow through to revenues later
this year."

"As always my thanks go to our employees and other stakeholders
who have shown commitment and determination in supporting our
company through another excellent year."

Full-text copies of Life Sciences Research, Inc.'s financial
statements for the year ended Dec. 31, 2005, are available at no
charge at http://ResearchArchives.com/t/s?737

Life Sciences Research, Inc. -- http://www.lsrinc.net/-- is a  
global contract research organization providing product
development services to the pharmaceutical, agrochemical and
biotechnology industries.  LSR identifies risks to humans,
animals or the environment resulting from the use or manufacture
of a wide range of chemicals that are essential components of
LSR's clients' products.  The Company's services are designed to
meet the regulatory requirements of governments around the
world.  LSR operates research facilities in the United States
(the Princeton Research Center, New Jersey) and the United
Kingdom (Huntingdon and Eye, England).

At Dec. 31, 2005, the company's stockholders' equity deficit
widened to $14,568,000, compared to a $2,064,000 deficit at
Dec. 31, 2004.


LUXFORD LIMITED: Claims Filing Period Ends April 7
--------------------------------------------------
Creditors of Luxford Limited have until April 7, to send in
their full names, addresses and descriptions, full particulars
of debts or claims, and the names and addresses of Solicitors
(if any) to appointed Joint Liquidator Peter Kubik.

Luxford Limited can be contacted at:

         Barclays Bank PLC
         High Street
         Yeadon Leeds
         LS19 7PR
         Tel: 0113 296 3000


MEAD FINANCIAL: Administrator Takes Over Helm
---------------------------------------------
Anthony Harry Hyams was appointed administrator of Mead
Financial Investments Limited (Company Number 05168241) on
Feb. 27.  Its registered office is at Adam House, 1 Fitzroy
Square, London W1T 5HE.

The administrator can be reached at:

         Allan House
         10 John Princes Street
         London
         W1G 0AH

Mead Financial Investments Limited operates restaurants.


MENTOR TECHNOLOGY: Hires Begbies Traynor to Administer Assets
-------------------------------------------------------------
Kenneth Stephen Chalk and Simon Robert Haskew of Begbies Traynor
were appointed joint administrators of Mentor Technology
International Limited (Company Number 02553644) and Mentor
Technology Limited (Company Number 04121880) on March 15.

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.  

Mentor Technology Ltd and its affiliate offer business and
management consultancy service and can be reached at:

         Moorbridge Court
         Maidenhead
         SL6 8LT
         Tel: 01628 782522


MOBTAK LIMITED: Creditors Confirm Voluntary Liquidation
-------------------------------------------------------
Creditors of Mobtak Limited confirmed the company's voluntary
liquidation after members passed a resolution to wind up the
company on Feb. 17.

Creditors also ratified the appointment of Gagen Dulari Sharma
as Liquidator.

Mobtak Limited can be reached at:

         707 High Road
         London
         N12 0BT
         Tel: 020 8591 469


NICOLAS (NORTHERN): Appoints Unity Corporate Administrator
----------------------------------------------------------
Matthew Colin Bowker and Suzanne Payne of Unity Corporate
Recovery and Insolvency were appointed joint administrators of
Nicolas (Northern) Ltd (Company Number 02570280) on March 17.

The joint administrators can be reached at:

         Unity Corporate Recovery And Insolvency
         Clive House
         Clive Street
         Bolton
         Lancashire
         BL1 1ET
         Tel: 01204 395000
         Fax: 01204 383999
         E-mail: matthewbowker@ubsg.co.uk

Nicolas (Northern) Ltd operates a recruitment agency and can be
reached at:

         Church St, Eccles
         Manchester
         M30 0DF
         Tel: 0161 789 4255
         Fax: 0161 789 4903


NIMROD ENGINEERING: Hires Joint Liquidators from Insol House
------------------------------------------------------------
Members of Nimrod Engineering Limited resolved to liquidate the
company's assets during an extraordinary general meeting on
Feb. 23.

Richard Frank Simms and Martin Richard Buttriss, of Insol House,
were appointed Joint Liquidators.

Nimrod Engineering Limited can be contacted at:

         33 Powke Lane
         Sapcote Trading Centre
         Cradley Heath West Midlands
         B64 5QR
         Tel: 01384 637 232
         Fax: 01384 411 191


NORTHUMBRIAN COUNTRY: Mounting Debts Trigger Liquidation
--------------------------------------------------------
Gordon Smythe Goldie and Allan David Kelly, of Tait Walker, were
appointed Joint Liquidators of Northumbrian Country Kitchens
Ltd. after members decided to liquidate the company's assets on
Feb. 17.

Chairman B.V. Russel disclosed that the company could no longer
continue its operations due to mounting debts.

Northumbrian Country Kitchens Ltd can be contacted at:

         4 Beatties Buildings
         Pegswood Village
         Pegswood Morpeth Northumberland
         NE61 6TU
         Tel: 01665 711 117


NRG FENCHURCH: Wants High Court to Approve Scheme of Transfer
-------------------------------------------------------------
NRG Fenchurch Insurance Company Limited and NRG London
Reinsurance Company Limited asked the High Court of England and
Wales to:

  (1) sanction the scheme for the transfer of NRG London of the
      direct and facultative reinsurance business effected or
      carried out by NRG Fenchurch in the United Kingdom
      pursuant to section 111 of the Financial Services and
      Markets Act 2000; and

  (2) make ancillary provisions to implement the scheme pursuant
      to section 112 of the FSMA.

A full-text copy of the report prepared by an independent
expert, David Slater of Watson Wyatt, Fellow of the Institute of
Actuaries, is available, upon request, at:

         NRG Fenchurch
         Attn: Pat Henley
         5th Floor West
         Charter House
         Park Street
         Ashford, Kent
         TN24 8EQ
         Tel: +44 (0) 1233 722600
         E-mail: part7.transfer@nrgv.co.uk

The Judge of Chancery Division will consider the companies'
request at a hearing on May 22, at:

         Royal Court of Justice
         The Strand
         London
         WC2A 2LL

Any person who claimed to be adversely affected by the carrying
out of the Scheme may appear at the time of the hearing in
person or by counsel.  

Anyone who dissents from the Scheme but does not intend to
appear, must give at least two days prior notice in writing of
such intention or dissent and their reasons therefore, to the
solicitors of NRG Fenchurch Insurance Company Limited and NRG
London Reinsurance Company Limited at:

         Clifford Chance Limited Liability Partnership
         10 Upper Bank Street
         London E14 5JJ


PUBLIC BUILDING: Appoints PwC as Administrator
----------------------------------------------
Ian Christopher Oakley Smith and Robert Jonathan Hunt of
PricewaterhouseCoopers were appointed joint administrators of
The Public Building Limited (Company Number 03528734) and The
Public Limited (Company Number 01289465) on March 15.  Its
registered office is at 1A Overend Street, West Bromwich, West
Midlands B70 6EY.

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.  

The Public Building Limited and its affiliate offers provision
of arts activities for the community.


R.O.G. LEISURE: Taps DTE Leonard Curtis to Administer Assets
------------------------------------------------------------
A. Poxon and J. M. Titley of DTE Leonard Curtis were appointed
joint administrators of R.O.G. Leisure Limited (Company Number
04427310) on March 10.  

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.

R O G Leisure Ltd manufactures office machinery and can be
reached at:

         15-19 Marsh Parade
         Newcastle, Staffordshire
         ST5 1BT


SIGNATURE GIFTS: Members Agree to Liquidation
---------------------------------------------
Signature Gifts Limited is liquidating its assets after members
found out that the company could no longer continue its
operations due to mounting debts.

Kikis Kallis, of Kallis & Co., was appointed Liquidator.

Signature Gifts Limited can be reached at:

         117 Albert Street
         London
         NW1 7NB
         Tel: 020 7284 4922


SMITHSTEEL LEICESTER: Wholesaler Appoints CBA Administrator
-----------------------------------------------------------
Mark Grahame Talliby and Neil Charles Money of CBA were
appointed joint administrators of Smithsteel Leicester Limited
(Company Number 03618269) on March 15.  

CBA -- http://www.cba-insolvency.co.uk/-- is a small compact  
group of experts specializing only in the fields of corporate
and personal insolvency.

Smithsteel Leicester Limited -- http://www.smithsteelleics.com/
-- sells mild steel sheets and plates.


SPIRIT INTEGRATED: Begins Liquidation Procedure
-----------------------------------------------
Spirit Intergrated Communications Limited is liquidating its
assets after members passed a resolution to wind up the company
on Feb. 20.

Paul Clark and Jason Godefroy, of Menzies Corporate
Restructuring, will jointly administer the liquidation
procedure.

Spirit Integrated Communications Limited can be reached at:

         2 Dryden Street
         London
         WC2 E9NA
         Tel: 020 7378 0000
         Fax: 020 7836 7744


STAFFORD REPROGRAPHICS: Liquidator Takes Over Operations
--------------------------------------------------------
C.H.I. Moore, of K. J. Watkin & Co, was appointed Liquidator of
Stafford Reprographics Limited after members decided to wind up
the company on Feb. 20.

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

Stafford Reprographics Limited can be contacted at:

         Bailey Street
         Stafford Staffordshire
         ST17 4BG
         Tel: 01785 213 770
         Fax: 01785 246 965


TIMBER BUILDINGS: Winds Up Operations & Appoints Liquidator
-----------------------------------------------------------
Timber Buildings (UK) Limited is winding up its operations after
members decided to liquidate the company's assets on Feb. 22.

Andrew Rosler, of Ideal Corporate Solutions Limited, was
appointed Liquidator.

Timber Buildings (UK) Limited can be reached at:

         Blackhorse Street
         Bolton Lancashire
         BL1 1SY
         Tel: 01204 526 345
         Fax: 01204 399 942


WESTFIELD STAMPINGS: Meeting of Creditors Set for April 4
---------------------------------------------------------
Creditors of Westfield Stampings Limited (Company Number 735362)
will meet at 11 a.m., on April 4, at:

         The Burlington Hotel
         Burlington Arcade
         126 New Street
         Birmingham, West Midlands
         B2 4JQ

Creditors who want to be represented at the meeting may appoint
proxies.  Proxy forms must be submitted together with written
debt claims at 12 p.m., on April 3, to the joint administrators,
Geoff Rowley and Nicholas Hugh O'Reilly at:

         Vantis
         P.O. Box 2653
         66 Wigmore Street
         London
         W1A 3RT

Headquartered in West Sussex, Vantis Numerica (nka Vantis plc) -
- http://www.vantisplc.com/-- provides accounting, business and  
tax advisory services in the United Kingdom.

Westfield Stampings Limited can be reached at:

        School Street,
        Dudley, West Midlands DY1 2AH
        Tel: (01384) 253358
        Fax: (01384) 455486


                           *********


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.


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