Stripped BB shell repair?

Hey guys and girls!

I think I have a problem.
The threads on the drive side of my steel frame BB shell
are completely stripped. Can anything be done here
or this is the frame's end?

Thanks in advance,
Serge in Odessa, Ukraine

 

This might help:
http://www.bikepro.com/products/bottom_brackets/mavic.html

It's a BB that doesn't use the shell threads (matter of fact, ya need to re-face the shells and remove the threads).

 

One of our suppliers here sells a YST Self tightening bottom bracket axle in 110mm, 113mm & 118mm . Never actually used this one but I'm pretty sure that is what you need as long as you don't have an old Colnago or Sannino from the Soviet era with ITA thread.
Maybe? somebody in Ukraine supplies them they cost about 45Australian dollars. I can send you a picture if you want.