TCREUR_Public/060421.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, April 21, 2006, Vol. 7, No. 79

                            Headlines


D E N M A R K

NORDIC TELEPHONE: Fitch Puts B+ Rating on EUR2.0 Billion Notes
NORDIC TELEPHONE: S&P Rates New EUR2 Billion Senior Bond at B
NORDIC TELEPHONE: Moody's Rates EUR2.0 Billion Notes at (P)B2
TDC A/S: Secures US SEC's Approval to Delist Shares from NYSE

F R A N C E

FRANCE SOIR: New Owners Take Over Helm on April 15

G E R M A N Y

AGFAPHOTO GMBH: Investor Cries Foul Over Sale
EUROVILLE GMBH: Claims Registration Ends April 24
FORGER BAUGESELLSCHAFT: Claims Registration Ends April 24
GROSSENWAHN GASTRO: Claims Registration Ends April 24
KELLER-LOGISTIK: Creditors' Meeting Slated for April 24

LIGRO LIEBL: Claims Registration Ends April 24
NAGEL GMBH: Claims Registration Ends April 22
OSKAR D. BIFFAR: Creditors' Meeting Slated for May 24
PETEX GMBH: Creditors' Meeting Slated for May 15
R. SIMON: Claims Registration Ends April 24

RUMELNER TRANSPORT: Claims Registration Ends April 22

I R E L A N D

VALENTIA TELECOMMUNICATIONS: S&P Places BB+ Rating on Watch Neg.

I T A L Y

PARMALAT SPA: Deloitte Files Damage Suit in United States
SAFILO SPA: Capital Increase Cues S&P to Upgrade Low B Ratings

K A Z A K H S T A N

AKSAI: Creditors Must File Proofs of Claim by April 28
ATF BANK: Fitch Assigns BB- Rating to Upcoming Eurobond
ATF BANK: Moody's Assigns Ba1 Rating on Proposed Currency Notes
GOLD LTD: Court Places Company Under Compulsory Liquidation
KAIGAR: Creditors Must File Proofs of Claim by June 1

NUR: Creditors Must File Proofs of Claim by April 28
OPTIMUS: Creditors Must File Proofs of Claim by April 28
PROTEHTRANS: Creditors Must File Proofs of Claim by April 28
SIGMA B: Court Puts Company Under Mandatory Liquidation
TOMAS: Creditors Must File Proofs of Claim by June 1

ULMAN & RYSIEV: Karaganda Court Puts Company Under Liquidation

P O L A N D

GETIN BANK: Moody's Gives EUR1 Billion Note Program Ba2 Rating

R U S S I A

BICYCLE FACTORY: Creditors Must Submit Proofs of Claim on May 4
B.I.N. CAPITAL: Fitch Puts Long-Term B- Rating on US$100M Issue
BUZDYAK-RAY-SEL-KHOZ-TEKHNIKA: Under Bankruptcy Supervision
CHUFAROVSKIY: Auctioning 21 Assets Today at Ulyanovsk Region
CRYSTAL: Bankruptcy Hearing Set for April 26

FERTILITY: Bankruptcy Hearing Set for May 4
GOROBLAGODATSKOYE: Receivership Dismissed, Faces Liquidation
INTER-TRADE: Appoints V. Vinogorov as Insolvency Manager
KOLCHUGTSVETMET: Declared Bankrupt by Vladimir Court
KRASNOSELSKAYA - 2: Under External Management Bankr. Procedure

SHATSKIY LIQUEUR-VODKA: Proofs of Claim Filing Period Ends May 4
STAROMINSKIY: Under External Management Bankruptcy Procedure
VORONTSOVSKOYE: Bankruptcy Hearing Slated for July 24

U K R A I N E

FOREZ: Kyiv Court Begins Bankruptcy Proceedings
HIMPROM: Vinnitsya Court Names Temporary Insolvency Manager
INTERTEHINVEST: Zhitomir Court Commences Bankruptcy Proceedings
MEHANIZATOR: Dnipropetrovsk Court Starts Bankruptcy Supervision
MT SERVICE: Zaporizhya Court Opens Bankruptcy Proceedings

NADIYA: Odessa Court Opens Bankruptcy Proceedings
OTAVA: Lugansk Court Begins Bankruptcy Proceedings
ROZHISHE' RAJAGROPOSTACH: Court Starts Bankruptcy Supervision
SOKILSKE: Poltava Court Begins Bankruptcy Proceedings

U N I T E D   K I N G D O M

BRAND ADVANTAGE: Appoints Moore Stephens as Administrator
CERTAINTY GROUP: Bank of Scotland Names Kroll Ltd as Receivers
CONCEPT SCREEN: Tenon Recovery Appointed as Administrator
DESIGNER TILES: Hires Administrators from Piper Thompson
DIAMOND SEAL: Joint Administrators from Stoy Hayward Appointed

ECHOPRINT LIMITED: Peter Nottingham Appointed Administrator
ENGLISH STRING: Names N. F. Hickling to Administer Assets
EXPRESS METRIX: Names Joint Administrators from Begbies Traynor
GAYTON GRAHAM: Names Joint Administrators from F A Simms
GHOST COMPUTERS: Members Pass Winding Up Resolution

GOLD 2001: Joint Administrators from Jeremy Knight Enter Helm
GREENLINE LOGISTIC: Creditors Must Register Claims by June 3
GUY-TEC LIMITED: Mounting Debts Result to Liquidation
HAWTHORNE ENGINEERING: Creditors Confirm Voluntary Liquidation
HILL FOOT: Hires Jonathan Timmis as Liquidator

IDEAL CAR: Appoints Liquidator from Bond Partners LLP
KENTFORD CONSTRUCTION: Members Agree to Liquidate Assets
LINTELS LIMITED: Claims Filing Period Ends May 5
MWP RECRUITMENT: Joint Liquidators Take Over Operations
NORTHERN SHOP: Members Resolve to Voluntary Liquidation

WATERFORD WEDGWOOD: Sheds 300 Jobs Due to Plant Closure

                            *********


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D E N M A R K
=============


NORDIC TELEPHONE: Fitch Puts B+ Rating on EUR2.0 Billion Notes
--------------------------------------------------------------
Fitch Ratings gave Nordic Telephone Company Holding ApS's
upcoming issue of EUR2.0 billion senior notes an expected rating
of B+.  At the same time, it has affirmed subsidiary TDC A/S's
Issuer Default Rating at BB- with Stable Outlook and senior
secured bank facilities at BB+.  The various notes issued under
TDC's EMTN program are affirmed at BB-.

Director in Fitch's Leveraged Finance team, Michelle De Angelis
disclosed, "The expected B+ rating on the proposed NTC Holding
senior notes reflects the more limited recoveries expected for
this subordinated instrument in a distress scenario, given the
current levels of secured and unsecured debt ranking senior to
this instrument."

"The proposed senior notes will be dependent on dividends from
TDC or, until 2008, drawings under TDC's revolving credit
facility to fund interest and debt repayment," De Angelis added.

The final rating is contingent on receipt of final documents
conforming to information already received.

The proceeds from the proposed senior notes will be used to
repay the EUR2.03 billion bridge facility.  The notes will be
senior obligations of NTC Holding and will benefit from second-
ranking security over NTC Holding's shares in Nordic Telephone
Company ApS.  

The notes will not be guaranteed by TDC or NTC, are not on lent
to NTC or TDC, and are structurally subordinated to the existing
debt at TDC.

TDC's BB- IDR reflects its position as the incumbent national
fixed-line telecoms operator in its domestic market, the leading
Danish mobile operator and Danish cable TV operator.  

The BB+ rating for the senior secured facilities reflects the
nature of the security granted to this instrument and the strong
recoveries anticipated in a distress scenario.  

The BB- rating for the eurobonds reflects the average expected
recoveries in a distress scenario, given the level of senior
secured debt currently ranking ahead of this instrument. The
bridge facilities are not rated.

EMTN bonds rated BB-:
DEM 5.0% notes due 2008
JPY 1.28% notes due 2008
EUR 5.625% notes due 2009
EUR 6.5% notes due 2012


NORDIC TELEPHONE: S&P Rates New EUR2 Billion Senior Bond at B
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' long-term
corporate credit rating to Denmark-based telecommunications
operator Nordic Telephone Co. Holding ApS (NTCH), the 100% owner
of Nordic Telephone Co. ApS (NTC), itself the 88.2% owner of
Danish telecoms operator TDC A/S (BB-/Stable/B).  The outlook is
stable.

At the same time, Standard & Poor's assigned its 'B' long-term
debt rating to NTCH's new EUR2,031 million senior unsecured
notes offering, which will refinance an existing EUR2,031
million bridge facility at the NTCH level and help finance the
LBO of TDC.  The new notes will mature in 2016 and will be
secured by a second-ranking pledge of all of the shares of NTC.

"The corporate credit rating on NTCH reflects its indirect
majority ownership of TDC, and therefore the ratings on the two
companies are equalized at the 'BB-' level," said Standard &
Poor's credit analyst Leandro De Torres Zabala.  "The rating on
the new notes issued by NTCH reflects their legal and structural
subordination to TDC's EUR7.456 billion senior secured loan, as
well as their structural subordination to TDC's existing notes,"
he added.
   
The ratings on TDC are constrained by the group's very high
financial leverage and tight debt-amortization schedule in 2008
and 2009.  The ratings are supported by the group's position as
the leading operator in the competitive Danish telecoms market,
satisfactory operating performance, good control of the Danish
access and broadband markets, and meaningful free cash flow
generation.  The ratings further reflect TDC's significant
disposable noncore assets, which provide financial flexibility
and deleveraging potential.

The stable outlook on NTCH and TDC reflects Standard & Poor's
expectations that TDC will be able to defend its satisfactory
core Danish fixed-line and mobile market positions against tough
competitive, regulatory, and technological pressures.  It is
critical that the group significantly raises its free cash flow
generation profile within the next two years and devotes organic
and unorganic free cash flow primarily to reducing its high
leverage.


NORDIC TELEPHONE: Moody's Rates EUR2.0 Billion Notes at (P)B2
-------------------------------------------------------------
Moody's Investors Service has assigned a (P)B2 rating to the
proposed issuance of EUR2,031 million in senior notes and
floating rate notes (split between the two tranche to be
determined) by Nordic Telephone Company Holding ApS, (NTC) the
88.2% majority owner of the Danish diversified
telecommunications operator TDC A/S (TDC) with leading market
positions in the fixed, mobile, data and cable sectors in its
core market in Denmark, strong market positions in various other
mobile markets including Switzerland, Poland and select Baltic
countries, relatively weaker market positions in other fixed and
data segments in Switzerland, other Nordic markets and Hungary
along with a reseller business in the highly competitive German
mobile market.  The outlook on the rating is stable.

The issuance is in line with the expectations factored into the
rating action of April 13, 2006, when Moody's downgraded TDC's
corporate family rating to Ba3 from Ba1 and re-assigned it to
NTC, downgraded the ratings on the remaining EMTN's not redeemed
under a tender offer to Ba3 and assigned a Ba2 senior secured
rating to the approximate EUR7.46 billion in senior secured
credit facilities.  

The notes are being issued by a holding company, which owns
88.2% of TDC.  The B2 rating on the notes therefore reflects
their structurally subordinated position to over EUR8.4 billion
of debt at TDC, EUR7.46 billion of which is secured.

The stable outlook reflects Moody's expectation given the
group's strong and diverse business profile that the company
will be able to strengthen free cash flow generation
supplemented possibly by non-core asset sales to meet medium
term debt amortization, reduce overall debt levels and
strengthen its credit metrics.  It also takes into account
Moody's expectations that the group's business and financial
profile could evolve over time and recognizes Moody's
expectation that the group is likely to continue to be managed
toward a leveraged financial profile over time.

Moody's notes that the rating on the bonds could be upgraded in
line with changes in the group's profile as a result of
improvements in credit metrics such as Total Debt to EBITDA
improving to below 5.0x concurrent with the group demonstrating
the ability to generate sufficient cash either from free cash
flow or asset disposals to meet debt amortizations through 2009.

The ratings would be lowered if:

   -- the group's cash flow weakens concurrent with not having
      successfully completed non-core asset sales, as a result
      of deterioration in operating margins or increased
      investments, such that credit metrics weaken; or

   -- as a result of concerns developing over the ability of TDC
      to meet currently scheduled debt amortization.

Nordic Telephone Company Holding ApS is a holding company of TDC
A/S, the Danish diversified telecommunications operator with
operations in Switzerland and in selected Northern and Central
European markets.  In 2005, TDC generated revenue of DKK46,588
million (EUR6,245 million) and EBITDA before special items of
DKK13,003 million (EUR1,743).  


TDC A/S: Secures US SEC's Approval to Delist Shares from NYSE
-------------------------------------------------------------
TDC A/S received an order from the U.S. Securities and Exchange
Commission, granting its application to withdraw its American
Depository Shares and its ordinary shares from listing and
registration on the New York Stock Exchange effective
April 19.   With regard to the application by TDC, reference is
made to TDC's stock exchange announcement no. 16 on
March 3, 2006.

TDC had in its application referred to a.o. the decrease of the
number of holders of ADS in the U.S. and of the trading of the
ADS on the New York Stock Exchange in connection with the
completion of the tender offer for all securities by Nordic
Telephone Company APS by the end of January 2006.

Following TDC's filing of the application on March 13, the SEC
on March 23, published in the Federal Register a notice of the
application requesting comments no later than on April 12.  No
comments were received by the end of the commenting period.

The SEC states that the basis for the granting of the
application is a consideration of the facts stated in the
application and with due regard for the public interest and
protection of investors.

Headquartered in Copenhagen, Denmark, TDC A/S --
http://www.tdc.com/-- provides communications solutions in   
Denmark and is the second-largest telecommunications provider on
the Swiss market.  It has a presence in a number of select
markets in Northern and Central Europe due to its shareholdings
in major companies.

                        *     *     *

As reported in the Troubled Company Reporter on April 17, 2006,
Fitch Ratings assigned TDC A/S an Issuer Default Rating of BB-
with Stable Outlook and a B Short-term rating following the
acquisition by Nordic Telephone Company ApS.  At the same time,
Fitch assigned a BB+ rating to TDC's senior secured facilities
and BB- rating to the outstanding bond under TDC's EMTN program.


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


FRANCE SOIR: New Owners Take Over Helm on April 15
--------------------------------------------------
The Commercial Court of Lille selected on April 12 a buyer for
ailing newspaper France Soir, the Associated Press says.

The Court selected the recovery plans presented by Brunois
sports journalist Olivier Ray and the property developer Jean-
Pierre Brunois.  

Under Messrs. Ray and Brunois' plan, France Soir will focus on
light news, celebrities and football but will scrap news on
politics and culture.  The plan also entails cutting the daily's
workforce to 51 from 112.  The duo will officially become France
Soir's new owners Saturday midnight.

France Soir's employees, however, assailed the Court's decision
and launched protest actions.  The employees said they worry
France Soir would become a tabloid focused on celebrity gossip.  

Mr. Brunois said his plan was the only way to rescue the group
from collapse.  He also promised to increase the newspaper's
workforce once the business picks up.

"[The employees] accuse me of firing, but my takeover plan will
allow us to save 51 jobs," Mr. Brunois told Liberation newspaper
adding that a prolonged conflict might lead to the company's
liquidation.

Headquartered in Aubervilliers, France, France Soir --
http://www.francesoir.fr/declared bankruptcy on Oct. 27, 2005,  
after failing to pay a EUR6 million debt.  Prior to this, it
asked the court to freeze debt payments, citing insufficient
resources.  At the time, the company's assets had dwindled to
EUR350,000.  A few days later, the court placed France Soir in
compulsory administration and imposed a six-month observation
period.


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


AGFAPHOTO GMBH: Investor Cries Foul Over Sale
---------------------------------------------
AgfaPhoto GmbH majority owner Hartmut Emans accused former
parent Agfa-Gevaert N.V. of fudging the group's figures to
attract buyers, Suddeutsche Zeitung reports.

According to Mr. Emans, Agfa-Gevaert rigged AgfaPhoto's turnover
forecasts and showed unrealistic targets.  He noted that the
former parent also failed to provide loss forecast.  Agfa-
Gevaert sold the firm to a group of financial investors led by
Mr. Emans for final price of EUR112 million in November 2004.  
Mr. Emans said the sale allowed Agfa-Gevaert to avoid EUR480
million in shutdown costs.

Agfa-Gevaert, however, firmly denied Mr. Emans' accusations,
saying that it sufficiently informed the investors and had
enjoyed close contact with management long before striking the
sale deal.

Headquartered in Cologne, Germany, AgfaPhoto GmbH --
http://www.agfaphoto.com/-- manufactures photographic film,  
papers, chemicals and disposable cameras.  It also offers online
print service, on-site processing, kiosk systems and wholesale
finishing.  The company has 1,800 employees.

Six months after it was sold to its management and a group of
investors, the company filed for insolvency at the district
court of Cologne and appointed Andreas Ringstmeier provisional
administrator.  The company blamed the growing popularity of
digital photography for its demise.  It has 32 subsidiaries
outside Germany that are not affected by the insolvency.  The
company owes money to suppliers and pension security body
Pensionssicherungsverein.


EUROVILLE GMBH: Claims Registration Ends April 24
-------------------------------------------------
Creditors of euroVille GmbH have until April 24, to register
their claims with court-appointed provisional administrator Dr.
Stephan Thiemann.

Creditors and other interested parties are encouraged to attend
the meeting at 10:30 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 Halle-Saalkreis
         Saal 1.043
         Justizzentrum
         Thueringer Str. 16
         06112 Halle, Germany

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 Halle-Saalkreis opened bankruptcy
proceedings against euroVille GmbH on Feb. 23.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         euroVille GmbH
         Attn: Gabriele Kayser and Kerstin Lange, Managers
         Michaelisholz 115
         06618 Naumburg, Germany
         
The administrator can be contacted at:

         Dr. Stephan Thiemann
         Schorlemmerstrasse 2
         04155 Leipzig, Germany
         Tel: 0341/4903650
         Fax: 0341/4903699


FORGER BAUGESELLSCHAFT: Claims Registration Ends April 24
---------------------------------------------------------
Creditors of Forger Baugesellschaft mbH have until April 24, to
register their claims with court-appointed provisional
administrator Dr. Peter G. Theile.

Creditors and other interested parties are encouraged to attend
the meeting at 9:35 a.m. on May 10, 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 Limburg
         Zimmer D 221
         Amtsgerichtsgebaude
         Walderdorffstrasse 12
         65549 Limburg, Germany
         
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 Limburg opened bankruptcy proceedings
against Forger Baugesellschaft mbH on March 1.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         Forger Baugesellschaft mbH
         Glashuettenweg 1
         65549 Limburg
         Attn: Heinz-Albrecht Neumann, Manager
         Greinstrasse 7c
         64291 Darmstadt, Germany
         
The administrator can be contacted at:

         Dr. Peter G. Theile
         Kapellenstr. 7
         65555 Limburg-Offheim, Germany
         Tel: 06431/77990-0
         Fax: 06431/77990-35
         E-mail: limburg@ts-Insolvenzanwaelte.de


GROSSENWAHN GASTRO: Claims Registration Ends April 24
-----------------------------------------------------
Creditors of Grossenwahn Gastro-GmbH have until April 24, to
register their claims with court-appointed provisional
administrator Axel Geese.

Creditors and other interested parties are encouraged to attend
the meeting at 9:00 a.m. on May 15, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Bielefeld
         Saal 4065
         4. Ebene
         Gerichtstrasse 6
         33602 Bielefeld Germany

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 Bielefeld opened bankruptcy proceedings
against Grossenwahn Gastro-GmbH on Feb. 23.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Grossenwahn Gastro-GmbH
         Ritterstr. 22
         33602 Bielefeld, Germany
         Attn: Mike Konig, Manager
         Prinzenstr. 5
         33602 Bielefeld, Germany
         
The administrator can be contacted at:

         Axel Geese
         Adenauerplatz 4
         33602 Bielefeld, Germany


KELLER-LOGISTIK: Creditors' Meeting Slated for April 24
-------------------------------------------------------
Court-appointed provisional administrator for Keller-Logistik
Ltd. & Co. KG, Ruediger Wienberg, will present his first report
on the Company's insolvency proceedings at a creditors' meeting
at 9:00 a.m., on April 24.

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

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

The Court will also verify the claims set out in the
administrator's report at 9:10 a.m., on July 17, at the same
venue.

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

The District Court of Charlottenburg opened bankruptcy
proceedings against Keller-Logistik Ltd. & Co. KG on Feb. 27.  
Consequently, all pending proceedings against the company have
been automatically stayed

The Debtor can be reached at:

         Keller-Logistik Ltd. & Co. KG
         Grossbeerenstrasse 2 - 10
         12107 Berlin, Germany
         
The administrator can be reached at:

         Ruediger Wienberg
         Giesebrechtstr. 1
         10629 Berlin, Germany


LIGRO LIEBL: Claims Registration Ends April 24
----------------------------------------------
Creditors of Ligro Liebl und Grotschulte GbR have until
April 24, to register their claims with court-appointed
provisional administrator Dr. Jens M. Schmittmann.

Creditors and other interested parties are encouraged to attend
the meeting at 9:25 a.m. on May 15, 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 Essen
         Saal 293
         2. OG
         Zweigertstr. 52
         45130 Essen, Germany

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 Essen opened bankruptcy proceedings
against Ligro Liebl und Grotschulte GbR on March 13.  
Consequently, all pending proceedings against the company have
been automatically stayed.

The Debtor can be contacted at:

         Ligro Liebl und Grotschulte GbR
         Lahnbeckestr. 97 A
         45307 Essen, Germany
         
The administrator can be contacted at:

         Dr. Jens M. Schmittmann
         Zweigertstrasse 28-30
         45130 Essen, Germany
         Tel: 0201 438740


NAGEL GMBH: Claims Registration Ends April 22
---------------------------------------------
Creditors of Nagel GmbH & Co. KG have until April 22, to
register their claims with court-appointed provisional
administrator Martin Buchheister.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 15, 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 Arnsberg
         EG, 328
         Eichholzstrasse 4
         59821 Arnsberg Germany

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 Arnsberg opened bankruptcy proceedings
against Nagel GmbH & Co. KG on March 8.  Consequently, all
pending proceedings against the company have been automatically
stayed.

The Debtor can be contacted at:

         Nagel GmbH & Co. KG
         Wiesenweg 18
         59457 Werl, Germany
         Attn: Olaf Volkmar Gustav Schulze, Manager
         Auf dem Felde 1 a
         59067 Hamm, Germany
         
The administrator can be contacted at:

         Martin Buchheister
         Rathausplatz 21-23
         58507 Luedenscheid, Germany
         Tel: 02351-36530


OSKAR D. BIFFAR: Creditors' Meeting Slated for May 24
-----------------------------------------------------
Court-appointed provisional administrator for Oskar D. Biffar
GmbH & Co KG, Markus Ernestus, will present his first report on
the Company's insolvency proceedings at a creditors' meeting at
10:00 a.m., on May 24.

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

         The District Court of Landau in der Pfalz
         Saal 221
         Marienring 13
         76829 Landau in der Pfalz, Germany

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 24, to register their claims with the
court-appointed provisional administrator.

The District Court of Landau in der Pfalz opened bankruptcy
proceedings against Oskar D. Biffar GmbH & Co KG on Feb. 28.  
Consequently, all pending proceedings against the company have
been automatically stayed

The Debtor can be reached at:

         Oskar D. Biffar GmbH & Co KG
         Attn: Albrecht Johannes Biffar, Manager
         Patrik Bernstein, Manager
         Seewiesen
         67480 Edenkoben, Germany
         
The administrator can be reached at:

         Markus Ernestus
         Kanzlei feb Rechtsanwalte
         O 3, 11+12
         68161 Mannheim, Germany
         Tel: 0621/16680


PETEX GMBH: Creditors' Meeting Slated for May 15
------------------------------------------------
Court-appointed provisional administrator for Petex GmbH,
Ruediger Schmidt, will present his first report on the Company's
insolvency proceedings at a creditors' meeting at 10:00 a.m., on
May 15.

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

         The District Court of Goppingen
         Saal 0.24
         Erdgeschoss
         14057 Berlin, Germany

The Court will also verify the claims set out in the
administrator's report at 9:50 a.m., on July 6, at the same
venue.

Creditors have until April 24, to register their claims with the
court-appointed provisional administrator.

The District Court of Goppingen opened bankruptcy proceedings
against Petex GmbH on Feb. 21.  Consequently, all pending
proceedings against the company have been automatically stayed

The Debtor can be reached at:

         Petex GmbH
         Roscherstr. 5
         Pfarrstrasse 25
         73033 Goppingen, Germany
         
The administrator can be reached at:

         Ruediger Schmidt
         Muehlesgassle 2
         73054 Eislingen, Germany
         Tel: 07161/82018
         Fax: 07161/817976


R. SIMON: Claims Registration Ends April 24
-------------------------------------------
Creditors of R. Simon Innenausbauten GmbH have until April 24,
to register their claims with court-appointed provisional
administrator Peter-Alexander Borchardt.

Creditors and other interested parties are encouraged to attend
the meeting at 9:15 a.m. on May 29, at which time the
administrator will present his first report on the insolvency
proceedings.

The meeting of creditors will be held at:

         The District Court of Hamburg
         Saal B 405
         4. Etage
         Sievekingplatz 1
         20355 Hamburg, Germany

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 Hamburg opened bankruptcy proceedings
against R. Simon Innenausbauten GmbH on Feb. 28.  Consequently,
all pending proceedings against the company have been
automatically stayed.

The Debtor can be contacted at:

         R. Simon Innenausbauten GmbH
         Attn: Romano Simon, Manager
         Krautgraben 7
         22159 Hamburg, Germany
         
The administrator can be contacted at:

         Peter-Alexander Borchardt
         Deichstrasse 1
         20459 Hamburg, Germany
         Tel: 040/80903047


RUMELNER TRANSPORT: Claims Registration Ends April 22
-----------------------------------------------------
Creditors of Rumelner Transport GmbH have until April 22, to
register their claims with court-appointed provisional
administrator Dr. Helmut Schmitz.

Creditors and other interested parties are encouraged to attend
the meeting at 9:30 a.m. on May 8, 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 Duisburg
         Raum Saal 407
         IV. Etage
         Kardinal-Galen-Strasse 124-130
         47058 Duisburg, Germany

The Court will also verify the claims set out in the
administrator's report at 9:00 a.m., on May 22, at the same
venue.

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

The Debtor can be contacted at:

         Rumelner Transport GmbH
         Borgschenweg 40
         47239 Duisburg, Germany
         Attn: Manfred Schmitz, Manager
         Pastor-Hahnen-Str. 29
         47638 Straelen, Germany
         
The administrator can be contacted at:

         Dr. Helmut Schmitz
         Flohbusch 1
         47802 Krefeld, Germany


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


VALENTIA TELECOMMUNICATIONS: S&P Places BB+ Rating on Watch Neg.
----------------------------------------------------------------
Standard & Poor's Ratings Services said its 'BB+' long-term
corporate credit rating on Valentia Telecommunications upc
remained on CreditWatch with negative implications, where it was
originally placed on Feb. 22, 2006.  This follows an
announcement by Valentia's owner, Ireland-based fixed and mobile
telecommunications operator eircom Group PLC, confirming that it
has received a joint proposal from Babcock & Brown Capital Ltd.
and eircom ESOP Trustee Ltd. (the trustee of eircom's employee
share ownership trust), which could lead to an offer being made
for the group.

"The CreditWatch placement continues to reflect our expectation
that Valentia's credit quality would be weakened by the
potential takeover if the transaction is substantially debt
financed and results in higher leverage for the group," said
Standard & Poor's credit analyst Michael O'Brien.

If Babcock & Brown were to hold a controlling stake in eircom,
the corporate credit rating on Valentia would likely be lowered,
with the extent of the downgrade depending on the capital
structure put in place.  Given the nature of the potential
acquirer, we expect that a substantial portion of the
acquisition price could be debt funded and pushed down at the
operating company level, which might result in a multi-notch
downgrade.  In addition, we would have to assess the business
implications for the company, which could include significant
changes in terms of operating structure.  In the event that a
transaction does not materialize, we would still have to assess
the impact of this development on the group's financial
strategies and alternatives in the future, which could lead
either to an affirmation or a downgrade.

Standard & Poor's expects to resolve the CreditWatch either when
there is more clarity on the funding structure of any bid or on
the completion of a potential transaction following an offer.


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


PARMALAT SPA: Deloitte Files Damage Suit in United States
---------------------------------------------------------
Dairy giant Parmalat SpA is facing an action for damages filed
by its former auditors Deloitte & Touche S.p.A. in the United
States, AFX News reports.

Deloitte alleged that Parmalat committed fraud by not fulfilling
its contractual obligations.  It claimed that Parmalat had
destroyed documents proving such a fraud, which it said had
started in the 1990s, AFX News says.

"The legal action explains how Parmalat's management
systematically deceived Deloitte to hide the fraud, during the
period in which Deloitte was its main auditor," Deloitte said in
a statement.

AFX did not say in its report how much Deloitte is asking
Parmalat to pay.  

Meanwhile, Parmalat has pending suits in Italy and the United
States seeking damages from banks and its auditors -- including
Deloitte -- for the collapse of the dairy firm in Dec. 2003.

Headquartered in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that  
can be stored at room temperature for months.  It also has 40-
some brand product line includes yogurt, cheese, butter, cakes
and cookies, breads, pizza, snack foods and vegetable sauces,
soups and juices.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on December 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.


SAFILO SPA: Capital Increase Cues S&P to Upgrade Low B Ratings
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its long-term
corporate credit rating on Italy-based eyewear manufacturer
Safilo SpA to 'BB-' from 'B'.

At the same time, Standard & Poor's raised its senior secured
bank loan ratings on the group to 'BB-' from 'B'.  The recovery
rating on the group's senior secured facilities was raised to
'2' from '3'.  A recovery rating of '2' reflects our expectation
of substantial (80%-100%) recovery of principal for senior
lenders in the case of a payment default.

Standard & Poor's also removed all its ratings on the group from
CreditWatch, where they had been placed with positive
implications on Nov. 18, 2005.  The outlook is stable.

"The upgrade and CreditWatch removal reflect Safilo's much
enhanced financial profile following a EUR295 capital increase,
as well as expectations that the loss of the Polo Ralph Lauren
license will be compensated by robust organic growth," said
Standard & Poor's credit analyst Nicolas Baudouin.

Standard & Poor's expects Safilo to restore and maintain
adequate financial measures, notably adjusted FFO to net debt of
about 20%.

"There is currently little possibility of an upgrade because of
the threat of license nonrenewal and limited future free cash
flow generation," said Mr. Baudouin.

Despite the very sharp decrease in interest payments, free cash
flow will be constrained by an increase in both working capital
and capital expenditures.  Furthermore, any problems with
renewing the Dior and Gucci licenses in 2008 would clearly put
pressure on the ratings.


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


AKSAI: Creditors Must File Proofs of Claim by April 28
------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region declared LLP Aksai insolvent.  

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


ATF BANK: Fitch Assigns BB- Rating to Upcoming Eurobond
-------------------------------------------------------
Fitch Ratings assigned Kazakhstan-based ATF Bank's upcoming
eurobond an expected Long-term BB- rating.  ATF is rated Issuer
Default BB- with a Stable Outlook, Short-term B, Individual D,
and Support 3.

The final rating is contingent upon receipt of final
documentation conforming materially to information already
received.

The notes are to rank at least pari passu with the claims of
other unsecured creditors of ATF, save those preferred by
relevant legislation.  Under Kazakhstani law, the claims of
retail depositors rank above those of other senior unsecured
creditors.  At end-2005, retail deposits accounted for 8% of
ATF's total liabilities, according to the bank's unaudited IFRS
accounts.

Covenants prevent ATF from entering into transactions of USD3
million or more on other than market terms, restrict dividend
payments on common stock to 50% of net income, and oblige the
bank to maintain a total capital ratio of at least 10%, as
calculated in accordance with the Basel recommendations.

ATF is the fourth-largest commercial bank in Kazakhstan by
assets with a market share of 8% of assets at end-2005.  It
provides a broad range of banking services to large companies
and SMEs, and is also expanding its retail business, with a
focus on higher- and middle-income individuals.


ATF BANK: Moody's Assigns Ba1 Rating on Proposed Currency Notes
---------------------------------------------------------------
Moody's Investors Service has assigned a Ba1 rating to the
senior unsecured foreign currency notes to be issued by ATF Bank
(Kazakhstan) in April 2006.  The amount and the tenor are not
yet known.  The outlook for the rating is stable.

The Ba1 rating is based on Moody's assessment of ATF Bank's
fundamental credit quality which incorporates, apart from the
bank's intrinsic financial strength, potential support from the
Kazakhstani authorities in the event of need, in reflection of
ATF Bank's importance to the national banking system as the
country's fourth-largest bank with a significant 8% market share
in terms of banking assets as at Dec. 31 2005.

Under the terms of the bond issue, ATF Bank must comply with
certain covenants, one of which requires the bank to maintain a
minimum consolidated BIS Capital Adequacy Ratio of 10%.  The
notes are also subject to a cross-default clause.

ATF Bank is headquartered in Almaty, Kazakhstan and reported
total consolidated assets of KZT359.1 billion (US$2.7 billion)
and total shareholders' equity of KZT27.5 billion (US$206
million) under IFRS as at year-end 2005.  


GOLD LTD: Court Places Company Under Compulsory Liquidation
-----------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region placed LLP Gold Ltd. under compulsory liquidation.

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


KAIGAR: Creditors Must File Proofs of Claim by June 1
-----------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region declared LLP Kaigar insolvent on November 18,
2005.  

Creditors have until June 1 to submit written proofs of claim
to:

          Shymkent, Ilyaeva Str. 24
          South Kazakhstan Region

NUR: Creditors Must File Proofs of Claim by April 28
----------------------------------------------------
The Specialized Inter-Regional Economic Court of Jambyl Region
declared OJSC NUR insolvent on December 26, 2005.  

Creditors have until April 28 to submit written proofs of claim
to:

          Koigeldy K. Str. 178-16
          Taraz
          Tel: 8 (326(22,2) 45-32-66


OPTIMUS: Creditors Must File Proofs of Claim by April 28
--------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region declared LLP Optimus insolvent.  

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


PROTEHTRANS: Creditors Must File Proofs of Claim by April 28
------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region declared LLP Protehtrans insolvent.  

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


SIGMA B: Court Puts Company Under Mandatory Liquidation
-------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region placed LLP Sigma B under compulsory liquidation.

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


TOMAS: Creditors Must File Proofs of Claim by June 1
----------------------------------------------------
The Specialized Inter-Regional Economic Court of South
Kazakhstan Region declared LLP TOMAS insolvent on November 18,
2005.  

Creditors have until June 1 to submit written proofs of claim
to:

          Shymkent, Ilyaeva Str. 24
          South Kazakhstan Region          


ULMAN & RYSIEV: Karaganda Court Puts Company Under Liquidation
--------------------------------------------------------------
The Specialized Inter-Regional Economic Court of Karaganda
Region placed LLP Kazakh-German Joint Venture Ulman & Rysiev
under compulsory liquidation.

Creditors have until April 28 to submit written proofs of claim
to:

          Jambyl Str. 9
          Karaganda, Kazahkstan


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


GETIN BANK: Moody's Gives EUR1 Billion Note Program Ba2 Rating
--------------------------------------------------------------
Moody's assigned a Ba2 rating to the EUR1 billion Senior
Unsecured Medium Term Note Program of Getin Finance PLC, an
issuing vehicle controlled by Getin Bank SA (rated Ba2/NP/D).  
The first issue under the Program, in the amount of EUR150
million, is also rated Ba2.

The Senior Unsecured Medium Term Note Program of Getin Finance
PLC has been rated at the same level as Getin Bank S.A.'s senior
unsecured debt rating as it befit from unconditional and
irrevocable guarantee of Getin Bank SA.

Headquartered in Katowice, Getin Bank SA reported consolidated
assets of PLN7.13 billion (EUR1.85 billion) under Polish
Accounting Standards (PAS) and net profit of PLN81.1 million
(EUR21 million) at year-end 2005.  


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


BICYCLE FACTORY: Creditors Must Submit Proofs of Claim on May 4
---------------------------------------------------------------
Creditors of Bicycle Factory have until May 4, to submit their
proofs of claim to court-appointed insolvency manager Mr. V.
Torgashev at:

        Dzerzhinsk, Pobedy Avenue, 17B
        606025, Nizhniy Novgorod Region, Russia

The Arbitration Court of Nizhniy Novgorod Region commenced
bankruptcy proceedings against the open joint stock company with
the case docketed as A43-16066/2005,18-306.

The Debtor can be reached at:

        Bicycle Factory
        Molodyezhnyj Pr. 93
        Nizhniy Novgorod Region, Russia


B.I.N. CAPITAL: Fitch Puts Long-Term B- Rating on US$100M Issue
---------------------------------------------------------------
Fitch Ratings placed B.I.N. Capital S.A's forthcoming US$100
million issue of limited recourse three-year loan participation
notes an expected RR4 Recovery Rating and expected Long-term B-
rating.

The notes are to be used solely for financing a loan to Russia's
Joint-Stock Bank "B.I.N.".  B.I.N. Capital S.A will only pay
noteholders amounts received from BIN under the loan agreement.
The final rating is contingent upon receipt of final
documentation conforming materially to information already
received.

The loan agreement states that the claims of the noteholders
will rank at least the same with the claims of other unsecured
creditors, save those preferred by relevant laws.  Under Russian
law, the claims of retail depositors rank above those of
unsecured creditors.  

At end-2005, retail deposits accounted for some 43% of BIN's
non-equity funding, according to the bank's International
Financial Reporting Standards accounts.  However, in Fitch's
view, there would still be average recovery prospects for
noteholders, as reflected in the RR4 rating.

Covenants under the loan agreement stipulate a minimum Tier 1
capital adequacy ratio of 10% and a minimum total capital
adequacy ratio of 12%, as calculated in accordance with BIS
guidelines.  They also limit restructurings, mergers and
disposals by BIN.

Covenants also specify that the terms of all transactions with
affiliated entities must be no less favorable for BIN than those
of transactions with non-related parties.  In addition, a
written opinion from an independent appraiser is required for
transactions with affiliated entities equal to more than US$10
million.

The loan agreement contains a negative pledge clause in relation
to the creation of liens, although it allows for a degree of
securitization by BIN.  In the event of such securitization,
Fitch notes that the nature and extent of any over-
collateralization would be assessed by the agency for any
potential impact on unsecured creditors.

BIN was established in 1993 and is majority-owned by one family,
which also controls the BIN group of companies.  BIN's business
remains focused on large corporates, notably in the oil and
commercial real estate sectors, although the bank has also been
diversifying into small- and medium-sized enterprise and retail
banking.  At end-2005 BIN's tier 1 and total capital adequacy
ratios in accordance with BIS guidelines were 23.5%.


BUZDYAK-RAY-SEL-KHOZ-TEKHNIKA: Under Bankruptcy Supervision
-----------------------------------------------------------
The Arbitration Court of Bashkortostan Republic will convene to
hear the bankruptcy supervision procedure on open joint stock
company Buzdyak-Ray-Sel-Khoz-Tekhnika (TIN 0216002642) at:

        The Arbitration Court of Bashkortostan Republic
        Oktyabrskoy Revolyutsii Str. 63
        450057, Bashkortostan Republic, Ufa, Russia

The case is docketed as A07-53226/05-G-PAV.

Creditors are requested to submit their proofs of claim to
court-appointed insolvency manager Mr. E. Ivanov at:

        Apartment 9, Oktyabrya Pr. 89/3,
        450057, Bashkortostan Republic, Ufa, Russia

The Debtor can be reached at:

        Buzdyak-Ray-Sel-Khoz-Tekhnika
        Buzdyak, Gagarina Str. 10
        452710, Bashkortostan Republic,
        Buzdyakskiy Region, Russia


CHUFAROVSKIY: Auctioning 21 Assets Today at Ulyanovsk Region
------------------------------------------------------------
The bidding organizer of open joint stock company Chufarovskiy
will sell its 21 different properties at a public auction at 10
a.m., today, April 21 at:

        Engelsa Str. 19
        432063, Ulyanovsk Region, Russia
        Tel: 8-8422-41-09-74

The Debtor can be reached at:

        Chufarovskiy
        Veshkaymskiy Region, Chufarovo
        Ulyanovsk Region, Russia


CRYSTAL: Bankruptcy Hearing Set for April 26
--------------------------------------------
The Arbitration Court of Kursk Region will convene on April 26,
to hear the bankruptcy supervision procedure on open joint stock
company Crystal.  The case is docketed as A35-5214/05 "g".

Creditors are requested to submit their proofs of claim to
court-appointed insolvency manager Mr. P. Gudzyak at:

        Post User Box 223
        305000, Kursk Region, Russia

The Debtor can be reached at:

        Zheleznogorsk, Entuziastov Str. 10
        Kursk Region, Russia


FERTILITY: Bankruptcy Hearing Set for May 4
-------------------------------------------
The Arbitration Court of Lipetsk Region will convene on May 4,
to hear the bankruptcy supervision procedure on open joint stock
company Fertility.  The case is docketed as A36-5149/2005.

Creditors are requested to submit their proofs of claim to
court-appointed insolvency manager Mr. A. Klokov at:

        Eletskiy Region, Klyuch Zhizni, Listyeva Str. 5
        Lipetsk Region, Russia

The Debtor can be reached at:

        Fertility
        Izmalkovskiy Region, Izmalkovo
        Lipetsk Region, Russia


GOROBLAGODATSKOYE: Receivership Dismissed, Faces Liquidation
------------------------------------------------------------
The Arbitration Court of Sverdlovsk Region rules to close the
receivership proceedings of Goroblagodatskoye Mine
Administration, Interfax reports.  The company will now be
liquidated.

The company was placed into receivership in March 2003 and was
bought buy Vysokogorsky GOK, an iron ore producer in August 2003
keeping its 870 employees.

Goroblagodatskoye Mine Administration is a mining subsidiary of
The Evraz Group's Nizhny Tagil Iron & Steel Plant.


INTER-TRADE: Appoints V. Vinogorov as Insolvency Manager
--------------------------------------------------------
The Arbitration Court of Moscow Region appointed Mr. V.
Vinogorov as insolvency manager of Inter-Trade (TIN 7718105411).  

The Court commenced bankruptcy proceedings against the close
joint stock company with the case docketed as A40-70421/05-73-
159 "B".

The Debtor can be reached at:

        Inter-Trade
        Rusakovskaya Str. 25
        107113, Moscow Region, Russia

The insolvency manager can be reached at:

        2nd Dubrovskaya Str. 1, Post User Box 96
        109044, Moscow Region, Russia


KOLCHUGTSVETMET: Declared Bankrupt by Vladimir Court
----------------------------------------------------
The Arbitration Court of Vladimir Region declared JSC
Kolchugtsvetmet bankrupt, Interfax reports.

According to published reports, the ruling was made following
the petition from the creditors to place the company into
receivership.  

Andrei Bersenev of the Moscow Self-Regulating Organization of
Arbitration Managers was appointed receiver for the company.

In February 2005, the company was placed under external
supervision after accumulating RUB1.6 million in debts.  Two
months later, the court imposed an external management after its
debt reached over RUB1.9 million.  

Kolchugtsvetmet manufactures flat and round rolled products from
copper, brass, bronze, nickel and copper-nickel alloys,
including pipes of various diameter.  The state owns 48% of the
plant, and employees hold about 20% of its stock.  The company
is the principal employer in the town of Kolchugino.


KRASNOSELSKAYA - 2: Under External Management Bankr. Procedure
--------------------------------------------------------------
The Arbitration Court of Krasnodar Region has commenced external
management bankruptcy procedure on close joint stock company
Krasnoselskaya - 2.  The case is docketed as A-32-16233/2005-
38/224 B.

Mr. N. Kurochkin has been appointed external insolvency manager.

The Debtor can be reached at:

        Krasnoselskaya - 2
        Timashevskiy Region, Sovetskiy, Lenina Str. 4a
        352731, Krasnodar Region, Russia

The insolvency manager can be reached at:

        N. Kurochkin
        Kozhevennaya Str. 18
        350004, Krasnodar Region, Russia


SHATSKIY LIQUEUR-VODKA: Proofs of Claim Filing Period Ends May 4
----------------------------------------------------------------
Creditors of Shatskiy Liqueur-Vodka Distillery (TIN 6224001308)
have until May 4, to file their proofs of claim to court-
appointed insolvency manager Mr. S. Poryadin at:

        Main Post Office, Post User Box 159
        390000, Ryazan Region, Russia

The Arbitration Court of Ryazan Region commenced bankruptcy
proceedings against the open joint stock company with the case
docketed as A54-3874/2005-S1.

The Debtor can be reached at:

        Shatskiy Liqueur-Vodka Distillery
        Shatsk, Gorkogo Str. 38
        391550, Ryazan Region, Russia


STAROMINSKIY: Under External Management Bankruptcy Procedure
------------------------------------------------------------
The Arbitration Court of Krasnodar Region has commenced external
management bankruptcy procedure on open joint stock company
Starominskiy (TIN 2350000508).  The case is docketed as
A-32-14335/2005-1/192 B.

Mr. P. Moskalenko has been appointed external insolvency
manager.

The Debtor can be reached at:

        Starominskiy
        Starominskiy Region, Starominskaya St.,
        Kalinina Str. 175
        Krasnodar Region, Russia

The external insolvency manager can be reached at:

        P. Moskalenko
        Room 307, Kolkhoznaya Str. 3
        350042, Krasnodar Region, Russia


VORONTSOVSKOYE: Bankruptcy Hearing Slated for July 24
-----------------------------------------------------
The Arbitration Court of Krasnodar Region will convene on July
24, to hear the bankruptcy supervision procedure on close joint
stock company Vorontsovskoye.  The case is docketed as
A-32-3723/2006-37/31 B.

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

The Debtor can be reached at:

        Vorontsovskoye
        Vorontsovskaya St., Pushkina Str. 20
        353213, Krasnodar Region, Russia

The insolvency manager can be reached at:

        O. Gurov
        Post User Box 4065
        350080, Krasnodar Region, Russia


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


FOREZ: Kyiv Court Begins Bankruptcy Proceedings
-----------------------------------------------
The Economic Court of Kyiv Region commenced bankruptcy
proceedings against LLC Scientific-Production Company Forez
(code EDRPOU 21462526) on Feb. 16, 2006, after finding it
insolvent.  The case is docketed as 15/691-b.

Mr. Viktor Sunitsya has been appointed Liquidator/Insolvency
Manager.

CONTACT:  Forez
          M. Raskova Str. 11
          Ukraine, Kyiv Region
          Mr. Viktor Sunitsya

          Liquidator/Insolvency Manager
          03039, Ukraine, Kyiv Region
          Golosiyivskij Avenue 8

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


HIMPROM: Vinnitsya Court Names Temporary Insolvency Manager
-----------------------------------------------------------
The Economic Court of Vinnitsya Region has appointed Mr. I.
Pogribnij temporary insolvency manager of State Enterprise
Production Association Himprom (code EDRPOU 05766379)

The Court commenced liquidation procedure on Feb. 9, 2006.  

Mr. I. Pogribnij has been appointed temporary insolvency
manager.

CONTACT:  Himprom
          Frunze Str. 4
          Ukraine, Vinnitsya Region

          Mr. I. Pogribnij
          Temporary Insolvency Manager
          Hmelnitske Shose Str. 7/1303
          Ukraine, Vinnitsya Region
  
          Economic Court Of Vinnitsya Region
          Hmelnitske Shose 7
          21100, Ukraine, Vinnitsya Region


INTERTEHINVEST: Zhitomir Court Commences Bankruptcy Proceedings
---------------------------------------------------------------
The Economic Court of Zhitomir Region appointed Mr. Rogovchenko
Volodimir Liquidator/Insolvency Manager of LLC Intertehinvest
(code EDRPOU 32277319)

The Court commenced bankruptcy proceedings against the company
on Feb. 9, 2006 after finding it insolvent.  The case is
docketed as 7/8 B.

CONTACT:  Intertehinvest
          Gorodkivka, Shkilna Str. 27
          Ukraine, Zhitomir Region
          Andrushivka District

          Mr. Rogovchenko Volodimir
          Liquidator/Insolvency Manager
          13401, Ukraine, Zhitomir Region
          Andrushivka, Pershogo Travnya Str. 8
          Phone: 8 (04136) 2-12-89

          Economic Court Of Zhitomir Region
          Putyatinski Square 3/65
          10002, Ukraine, Zhitomir Region


MEHANIZATOR: Dnipropetrovsk Court Starts Bankruptcy Supervision
---------------------------------------------------------------
The Economic Court of Dnipropetrovsk Region commenced bankruptcy
supervision procedure on LLC Mehanizator (code EDRPOU 19441540).  
The case is docketed as B 29/150/05.

Mr. Kosyanchuk Kostyantin has been appointed temporary
insolvency manager.

CONTACT:  Mehanizator
          Komunarivska Str. 16/362
          49128, Ukraine, Dnipropetrovsk Region

          Mr. Kosyanchuk Kostyantin
          Temporary Insolvency Manager
          49034, Ukraine, Dnipropetrovsk Region a/b 2184

          Economic Court Of Dnipropetrovsk Region
          Kujbishev Str. 1a
          49600, Ukraine, Dnipropetrovsk Region


MT SERVICE: Zaporizhya Court Opens Bankruptcy Proceedings
---------------------------------------------------------
The Economic Court of Zaporizhya Region appointed Mr. Sergij
Chalapluk Liquidator/Insolvency Manager of LLC MT Service (code
EDRPOU 32889744).

The Court commenced bankruptcy proceedings against the company
on Feb. 23, 2006, after finding it insolvent.  The case is
docketed as 25/27/06.  

CONTACT:  MT Service
          Mayakovskij Avenue 11
          69035, Ukraine, Zaporizhya Region

          Mr. Sergij Chalapluk
          Liquidator/Insolvency Manager
          Pravdi Str. 63/28
          69000, Ukraine, Zaporizhya Region
  
          Economic Court Of Zaporizhya Region
          Shaumyana Str. 4
          69001, Ukraine, Zaporizhya Region


NADIYA: Odessa Court Opens Bankruptcy Proceedings
-------------------------------------------------
The Economic Court of Odessa Region commenced bankruptcy
proceedings against Agricultural LLC Nadiya (code EDRPOU
30820003) on Feb. 14, 2006, after finding it insolvent.  The
case is docketed as 2/276-05-11812.  

Mr. Liseyev Kirilo has been appointed Liquidator/Insolvency
Manager.

CONTACT:  Nadiya
          66032, Ukraine, Odessa Region
          Kodimskij District, Kotovtsi

          Mr. Liseyev Kirilo
          Liquidator/Insolvency Manager
          65111, Ukraine, Odessa Region a/b 81
  
          Economic Court Of Odessa Region
          Shevchenko Avenue 4
          65032, Ukraine, Odessa Region


OTAVA: Lugansk Court Begins Bankruptcy Proceedings
--------------------------------------------------
The Economic Court of Lugansk Region appointed Ms. Chugunova
Vira Liquidator/Insolvency Manager of LLC Otava (code EDRPOU
30824769).

The Court commenced bankruptcy proceedings against the company
on Feb. 16, 2006, after finding it insolvent.  The case is
docketed as 11/8 B.

CONTACT:  Otava
          Lisichansk, Krasna Str. 1
          93150, Ukraine, Lugansk Region,

          Ms. Chugunova Vira
          Liquidator/Insolvency Manager
          Lutuginska Str. 123/6
          91020, Ukraine, Lugansk Region

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


ROZHISHE' RAJAGROPOSTACH: Court Starts Bankruptcy Supervision
-------------------------------------------------------------
The Economic Court of Volinska Region commenced bankruptcy
supervision procedure on OJSC Rozhishe' Rajagropostach (code
EDRPOU 00902671).  The case is docketed as 4/31-B.

Mr. Volodimir Temchishin has been appointed temporary insolvency
manager.

CONTACT:  Rozhishe' Rajagropostach
          Rozhishe, Pershogo Travnya Str. 1/G
          45100, Ukraine, Volinska Region

          Economic Court Of Volinska Region
          Lutsk, Voli Avenue 54-a
          43010, Ukraine, Volinska Region


SOKILSKE: Poltava Court Begins Bankruptcy Proceedings
-----------------------------------------------------
The Economic Court of Poltava Region commenced bankruptcy
proceedings against OJSC Sokilske (code EDRPOU 00845817) on Aug.
11, 2006, after finding it insolvent.  The case is docketed as
7/92.

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

CONTACT:  Sokilske
          Kobelyatskij District, Luchki
          Ukraine, Poltava Region

          Mr. V. Nesvit
          Liquidator/Insolvency Manager
          Nezalezhnosti Square 1 B, Room 18
          36003, Ukraine, Poltava Region
          Phone/Fax: 50-80-66

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


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


BRAND ADVANTAGE: Appoints Moore Stephens as Administrator
---------------------------------------------------------
Mark Elijah Thomas Bowen and Nigel Price at Moore Stephens LLP
were appointed on April 4 joint administrators of Brand
Advantage Group Limited (Company Number 04623471).

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

The company can be reached at:

        Tel: +44 (0) 1454 854415


CERTAINTY GROUP: Bank of Scotland Names Kroll Ltd as Receivers
--------------------------------------------------------------
The Governor and Company of the Bank of Scotland appointed
Robert Alexander Maxwell and Charles Peter Holder at Kroll
Limited administrative receivers of Certainty Group Security
Services Limited (Company Number 3068057) on April 6.

Kroll Limited -- http://www.krollworldwide.com/-- offers risk  
consulting services worldwide.  The firm is an operating unit of
Marsh & McLennan Companies, Inc., the global professional
services firm.  Kroll's services include corporate advisory and
restructuring, financial accounting, valuation and litigation,
electronic evidence and data recovery, business intelligence and
investigations, background screening, and security services.

Certainty Group Security Services Limited installs CCTV
equipment.


CONCEPT SCREEN: Tenon Recovery Appointed as Administrator
---------------------------------------------------------
S. R. Thomas and S. D. Burkett-Coltman at Tenon Recovery were
appointed joint administrators of Concept Screen Printing
Company Limited (Company Number 02213663) on April 5.

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


DESIGNER TILES: Hires Administrators from Piper Thompson
--------------------------------------------------------
Tony James Thompson at Piper Thompson was appointed
administrator of Designer Tiles Limited (Company Number 3354010)
on April 3.  Its registered office is at 174-176 Oatlands Drive,
Weybridge, Surrey KT13 9ET.

The administrator can be reached at:

        Piper Thompson
        Mulberry House,
        53 Church Street, Weybridge,
        Surrey KT13 8DJ
        Tel: 01932855515

Designer Tiles Limited sells tiles and ceramic products.  

The company can be reached at:

        174-176 Oatlands Drive,
        Weybridge, Surrey KT13 9ET
        Tel: 01932852747   


DIAMOND SEAL: Joint Administrators from Stoy Hayward Appointed
--------------------------------------------------------------
Toby Underwood and Charles MacMillan at BDO Stoy Hayward LLP
were appointed joint administrators of Diamond Seal Limited
(Company Number 03834972) on March 30.

BDO Stoy Hayward -- http://www.bdo.co.uk/-- is the UK member  
firm of BDO International, the world's fifth largest accountancy
network with more than 600 offices in 100 countries.  Its
services include: audit and assurance, business restructuring,
corporate finance, disputes and investigations, investment
management, risk assurance services, tax services, and
valuations.

Diamond Seal Limited manufactures PVC windows and doors.  The
company can be reached at:

        Bradford, West Yorks
        Tel: 01274 303400


ECHOPRINT LIMITED: Peter Nottingham Appointed Administrator
-----------------------------------------------------------
Peter Nottingham at Nottingham Watson Ltd was appointed
administrator of Echoprint Limited (Company Number 04301962) on
March 31.

The administrator can be reached at:

        Nottingham Watson Ltd
        15 Highfield Road,
        Hall Green, Birmingham B28 0EL

Echoprint Ltd manufactures paper and offers printing and
publishing services and can be reached at:

          9a Narrowboat Way,
          Dudley DY2 0XQ
          Tel: 01384 257891


ENGLISH STRING: Names N. F. Hickling to Administer Assets
---------------------------------------------------------
Neil Francis Hickling at Smith & Williamson Limited was
appointed administrator of English String Orchestra Limited
(Company Number 1850234) on April 5.

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

English String Orchestra Limited can be reached at:

        Rockliffe House,
        40 Church Street,
        Malvern WR14 2AZ
        Tel: 01684560696


EXPRESS METRIX: Names Joint Administrators from Begbies Traynor
---------------------------------------------------------------
Paul Stanley and Stephen L. Conn at Begbies Traynor were
appointed joint administrators of Express Metrix Limited
(Company Number 04805240) on April 4.

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.  

Express Metrix Limited offers computer software license
monitoring service.  The company can be reached at:

        Surrey Technology Centre
        40 Oc, M Road,
        Guildford, Surrey GU2 7YG
        Tel: 01483685170   


GAYTON GRAHAM: Names Joint Administrators from F A Simms
--------------------------------------------------------
Richard Frank Simms and Martin Richard Buttriss at F A Simms &
Partners Plc were appointed joint administrators of Gayton
Graham Limited (Company Number 2077377) on April 3.  Its
registered office is at 94 London Road, Leicester LE2 0QS.

The joint administrators can be reached at:

        F A Simms & Partners Plc
        Insol House
        39 Station Road
        Lutterworth
        Leicestershire LE17 4AP
        Tel: 01455 557111
        Fax: 01455 552572
        E-mail: rsimms@fasimms.com

Gayton Graham Ltd can be reached at:

        94 London Rd
        Leicester LE2 0QS
        Tel: 0116 233 7711
        Fax: 0116 233 6833


GHOST COMPUTERS: Members Pass Winding Up Resolution
---------------------------------------------------
Members of Ghost Computers Limited passed a resolution to wind
up the company on Feb. 14.

Subsequently, they appointed T. Papanicola, of Bond Partners
LLP, as Liquidator.

The company can be reached at:

         Ghost Computers Limited
         84 Thetford Way
         Swindon Wiltshire
         SN25 1WJ
         Tel: 01793 729 777
         Web: http://www.ghost.uk.com/


GOLD 2001: Joint Administrators from Jeremy Knight Enter Helm
-------------------------------------------------------------
William Jonathan Jeremy Knight and Richard Eaglesfield Floyd at
Jeremy Knight & Co were appointed joint administrators of Gold
2001 Limited (Company Number 3486357) on April 3.

The joint administrators can be reached at:

        Jeremy Knight & Co
        68 Ship Street
        Brighton
        Sussex BN1 1AE
        Tel: 01273 203654
        Fax: 01273 206056
        E-mail: jknight@mistral.co.uk

Gold 2001 Ltd can be reached at:

        The Dairy House, Money Row Grn,
        Maidenhead, Berkshire SL6 2ND
        Tel: 01753-686844   


GREENLINE LOGISTIC: Creditors Must Register Claims by June 3
------------------------------------------------------------
Members of Greenline Logistic Solutions Ltd resolved to
voluntarily liquidate the company's assets during an
extraordinary general meeting on March 3.

Appointed Joint Liquidator, D.F. Wilson, 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 June 3.

The company can be reached at:

         Greenline Logistic Solutions Limited
         1 Beckwith Head Road
         Cardale Park
         Harrogate North Yorkshire
         HG3 1RZ
         Tel: 01423 505 011
         Fax: 01423 505 016


GUY-TEC LIMITED: Mounting Debts Result to Liquidation
-----------------------------------------------------
Guy-Tec Limited is liquidating its assets after members proved
the company could no longer continue its operations due to
mounting debts.

Neil Francis Hickling was appointed Liquidator.

The company can be reached at:

         Guy-Tec Limited
         Unit 9 Maylite Trading Est
         Berrow Green Road
         Martley Worcester Worcestershire
         WR6 6PQ
         Tel: 01886 889 298
         Fax: 01886 889 299
         Web: http://www.guy-tec.com/


HAWTHORNE ENGINEERING: Creditors Confirm Voluntary Liquidation
--------------------------------------------------------------
Creditors of Hawthorne Engineering (Doncaster) Limited confirmed
the company's voluntary liquidation after members passed a
resolution to wind up the company on March 3.

Creditors also ratified the appointment of David Anthony Horner
as Liquidator.

The company can be reached at:

         Hawthorne Engineering (Doncaster) Limited
         Unit 5
         Hexthorpe Business Park
         Doncaster South Yorkshire
         DN4 0EJ
         Tel: 01302 321 990
         Fax: 01302 349 939


HILL FOOT: Hires Jonathan Timmis as Liquidator
----------------------------------------------
Hill Foot Hotels Limited is liquidating its assets after members
passed a resolution to wind up the company's operations on
March 7.

Jonathan M. Timmis was appointed Liquidator.

The company can be reached at:

         Hill Foot Hotels Limited
         LA12 7SE
         Tel: 01229 580 300
         Fax: 01229 580 528
         Web: http://www.hillfoothotel.co.uk/


IDEAL CAR: Appoints Liquidator from Bond Partners LLP
-----------------------------------------------------
T. Papanicola, of Bond Partners LLP, was appointed Liquidator of
Ideal Car Supermarket Limited after members decided to liquidate
the company's assets on Feb. 9.

Chairman S. Moffatt revealed the company could no longer
continue its operations due to financial liabilities.

The company can be reached at:

         Ideal Car Supermarket Limited
         Southport Road
         Eccleston Chorley Lancashire
         PR7 6ES
         Tel: 01257 450 088


KENTFORD CONSTRUCTION: Members Agree to Liquidate Assets
--------------------------------------------------------
Members of Kentford Construction Limited agreed to liquidate the
company's assets after proving that the company could no longer
continue its operations due to mounting debts.

Stephen M. Rout was chosen to liquidate the company's assets.

The company can be reached at:

         Kentford Construction Limited
         1 Herringswell Road
         Kentford Newmarket Suffolk
         CB8 7QS
         Tel: 01638 552 244


LINTELS LIMITED: Claims Filing Period Ends May 5
------------------------------------------------
Creditors of Lintels Limited have until May 5, 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 Liquidators Stewart Trevor Bennett and
James Preston Bradney.

The company can be reached at:

         Lintels Limited
         18 Queen Street
         Southminster Essex
         CM0 7BB
         Tel: 01621 774 388
         Fax: 01621 774 660


MWP RECRUITMENT: Joint Liquidators Take Over Operations
-------------------------------------------------------
MWP Recruitment Limited is winding up its operations after
members resolved to voluntarily liquidate the company's assets
on March 6.

Richard Frank Simms and Martin Richard Buttriss will jointly
liquidate the company's assets.

The company can be reached at:

         MWP Recruitment Limited
         37-39 Market Street
         Leicester
         LE1 6DN
         Tel: 01530 560 007


NORTHERN SHOP: Members Resolve to Voluntary Liquidation
-------------------------------------------------------
Members of Northern Shop and Bar Fitters Limited resolved to
voluntarily liquidate the company's assets on March 1.

The members authorized Roderick Michael Withinshaw and Peter
Jones to jointly liquidate the company's assets.

The company can be reached at:

         Northern Shop & Bar Fitters Limited
         Cocker Street
         Cocker Trading Estate
         Blackpool Lancashire
         FY1 2EP
         Tel: 01253 317 326
         Fax: 01253 470 480


WATERFORD WEDGWOOD: Sheds 300 Jobs Due to Plant Closure
-------------------------------------------------------
Up to 300 workers will be jobless this June after luxury goods
firm Waterford Wedgwood shuts down its china goods plant in
Staffordshire, Business World says.

According to reports, the company blames its closure on its weak
demand in the area.

The said move comes just a month after the firm announced that
240 jobs were to go at its Stoke-on-Trent factory.

Waterford Wedgwood chief executive Peter Cameron said it is
trying to return the group to profit this year after
accumulating losses of nearly EUR150 million in March last year.

Right now, the company is planning to transfer its production to
Indonesia if more plant closure will happen in the future, the
paper said.

Headquartered in Staffordshire, United Kingdom, Waterford
Wedgwood -- http://www.waterfordwedgwood.com/-- is the world's  
leading luxury lifestyle group with four world-class brands -
Waterford Crystal, Wedgwood, Rosenthal and Royal Doulton.

                        *    *    *

As reported on Feb. 9, 2006, Fitch Ratings assigned a 'CCC'
Issuer Default rating to Waterford Wedgwood PLC.  Fitch said the
Outlook is Negative.

                           *********


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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