/raid1/www/Hosts/bankrupt/TCRLA_Public/070822.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                    L A T I N   A M E R I C A

          Wednesday, August 22, 2007, Vol. 8, Issue 166

                          Headlines

A R G E N T I N A

ANTARES SA: Trustee Filing Individual Reports in Court Today
ARCANGEL GABRIEL: Trustee Filing General Report in Court Today
BANG SEUNG: Creditors Voting on Settlement Plan Today
CABANA DON: Proofs of Claim Verification Ends Today
CIRCULO DE SUBOFICIALES: Claims Verification Is Until Tomorrow

COMUNICACION DE ALTO: Proofs of Claim Verification Ends Today
EL PASO: Fitch Says Ratings Unaffected by Peoples Energy Deal
EL PASO: Peoples Energy Purchase Cues Moody's to Affirm Ratings
EL PASO: Credit Suisse Reaffirms Outperform Rating on Shares
FORNITURE STYLE: Proofs of Claim Verification Deadline Is Today

HUNTSMAN CORP: Board Declares US$0.10 Per Share Cash Dividend
JOTA K SRL: Proofs of Claim Verification Ends Tomorrow
KOLMER SA: Proofs of Claim Verification Deadline Is Today
LAVALLE 714: Trustee Filing General Report in Court Today
METAL MASTER: Trustee Filing Individual Reports in Court Today

PINNACLE ENTERTAINMENT: Morgan Joseph Reaffirms Buy Rating
PLAPEL SA: Trustee Filing General Report in Court Today
REMISES EL RESERO: Trustee Filing Individual Reports Today
ROGGIE SA: Trustee Filing Individual Reports in Court Tomorrow
TENNECO INC: Buying Combustion Components Business for US$16 Mln

ZUG SA: Proofs of Claim Verification Deadline Is Today


B E R M U D A

GENERAL MILLS: Proofs of Claim Filing Deadline Is Today
GENERAL MILLS: Sets Final General Meeting for Sept. 10
MAN MAC: Proofs of Claim Filing Ends Today
MAN MAC: Sets Final General Meeting for Sept. 28
MAN MAC JACKOBSHORN: Proofs of Claim Filing Deadline Is Today

MAN MAC JACKOBSHORN 8: Sets Final General Meeting for Sept. 28
MAN MAC NORDEND: Proofs of Claim Filing Deadline Is Aug. 22
MAN MAC NORDEND: Will Hold Final General Meeting for Sept. 28
MAN MAC VORAB: Proofs of Claim Filing Ends on Aug. 22
MAN MAC VORAB: Sets Final General Meeting for Sept. 28


B O L I V I A

GOLDEN EAGLE: June 30 Balance Sheet Upside-Down by US$4.6 Mil.

* BOLIVIA: State Miner Mulling Treating Tailings


B R A Z I L

DELPHI CORP: Disclosure Statement Hearing Scheduled on Oct. 3
DELPHI CORP: Wants to Establish Adversary Proceeding Procedures
HAYES LEMMERZ: Promotes James Yost as Executive Vice Pres. & CFO
HEXCEL CORP: Agrees to Provide Carbon Fiber for USEC Plant
LAZARD LTD: Unit Closes US$600-Mln Exchange Offer of 6.85% Notes

SOLECTRON CORP: Inks Service Contract with LSI Corporation
VOTORANTIM GROUP: Moody's Puts Ba1 Rating on US$300-Mil. Notes
ZIM CORP: Incurs US$97,397 Net Loss in Quarter Ended June 30

* BRAZIL: J. Bueno Urges Petrobras to Lessen Domestic Presence
* BRAZIL: State Firm Concludes Offloading Operation with Sevan
* BRAZIL: State Firm OKs Regulation Changes in Pension Plan Fund


C A Y M A N   I S L A N D S

ADROIT PRIVATE: Sets Final Shareholders Meeting for Sept. 7
BAILEY COATES: Will Hold Final Shareholders Meeting on Sept. 7
BNS MASTER: Proofs of Claim Filing Is Until Sept. 6
CHINA INVESTMENT: Sets Final Shareholders Meeting for Sept. 7
CV GROWTH: Proofs of Claim Filing Is Until Sept. 6

FRONTIER IV: Will Hold Final Shareholders Meeting on Sept. 7
IVY PARTNERS: Sets Final Shareholders Meeting for Sept. 7
JAPAN ADVISORY: Will Hold Final Shareholders Meeting on Sept. 7
NEST FUNDING: Proofs of Claim Must be Filed by Sept. 7
PARMALAT SPA: Judge Drain Issues Permanent Injunction Order

PURE IP: Proofs of Claim Filing Ends on Sept. 6
PURE IP: Will Hold Final Shareholders Meeting on Sept. 7
RHICON 4XIM: Proofs of Claim Filing Is Until Sept. 6
SA NOSTRA: Proofs of Claim Must be Filed by Sept. 6
SYSTEIA ALTERNATIVE: Sets Final Shareholders Meeting for Sept. 7

VEGA GLOBAL: Proofs of Claim Filing Is Until Sept. 6
VEGA GLOBAL 3X: Proofs of Claim Filing Deadline Is Sept. 6
VEGA INVESTMENT: Proofs of Claim Filing Ends on Sept. 6
VEGA LIQUIDITY: Proofs of Claim Filing Deadline Is Sept. 6
VEGA LIQUIDITY FUND: Proofs of Claim Must be Filed by Sept. 6

VEGA MAG: Proofs of Claim Filing Ends on Sept. 6


C O L O M B I A

HANOVER COMPRESSOR: Completes Universal Compression Merger


C O S T A   R I C A

ALCATEL-LUCENT: Dresdner Kleinwort Keeps Hold Rating on Shares


D O M I N I C A N   R E P U B L I C

AES CORP: Fitch Affirms B+ Issuer Default Rating


E C U A D O R

PETROECUADOR: May Launch Int’l Tenders for Pie de Monte Blocks
UNIVERSAL COMPRESSION: Changes Company Name to Exterran Partners
UNIVERSAL COMPRESSION: Closes Hanover Merger of Equals


E L   S A L V A D O R

PERRY ELLIS: Reports US$267,000 Net Income in Qtr. Ended July 31


G U A T E M A L A

BANCO INDUSTRIAL: Eyes Up to 25% Increase in Lending This Year
SPECTRUM BRANDS: Names John Bowlin as Board Chairman


H O N D U R A S

* HONDURAS: To Probe Alleged Illegal Use of Hondutel’s Networks


J A M A I C A

NATIONAL WATER: Conducting Extensive Trucking Operation


M E X I C O

BALLY TOTAL: Ends Interim Executive Services Pacts with Tatum
GRUPO MEXICO: To Award Generation Project to Third Party
SANMINA: Moody's Puts Ratings Under Review for Possible Cut


P A R A G U A Y

EXIDE TECHNOLOGIES: Wants Until October 31 to Object to Claims
EXIDE TECHNOLOGIES: Posts US$35.7 Mil. Net Loss in First Quarter


P E R U

* PERU: Obtains US$400,000 Donation from World Bank


P U E R T O   R I C O

DORAL FINANCIAL: Reverse Stock Split Takes Effect Aug. 17
JEFF RUIZ: Case Summary & 18 Largest Unsecured Creditors


U R U G U A Y

* URUGUAY: Minister Denies State Firms’ Privatization


V E N E Z U E L A

NORTHWEST AIRLINES: Court Approves M&T & MAC Settlement Pact
PETROLEOS DE VENEZUELA: Drilling First Offshore Well
PETROLEOS DE VENEZUELA: Reporter Presents Drug Traffic Proof

* Upcoming Meetings, Conferences & Seminars


                         - - - - -


=================
A R G E N T I N A
=================


ANTARES SA: Trustee Filing Individual Reports in Court Today
------------------------------------------------------------
Juan Emilio Cavalieri, the court-appointed trustee for Antares S.A.'s
bankruptcy proceeding, will present the validated claims as individual
reports in the National Commercial Court of First Instance in Quilmes,
Buenos Aires, on Aug. 22, 2007.

Mr. Cavalieri verified creditors' proofs of claim until
June 25, 2007.

A general report that contains an audit of Antares' accounting and banking
records will be submitted in court on Oct. 3, 2007.

Mr. Cavalieri is also in charge of administering Antares' assets under
court supervision and will take part in their disposal to the extent
established by law.

The debtor can be reached at:

          Antares S.A.
          Calchaqui 567, Quilmes Oeste
          Buenos Aires, Argentina

The trustee can be reached at:

          Juan Emilio Cavalieri
          San Martin 528, Quilmes
          Buenos Aires, Argentina


ARCANGEL GABRIEL: Trustee Filing General Report in Court Today
--------------------------------------------------------------
Luis Pedro Pereyra, the court-appointed trustee for Arcangel
Gabriel Vezzato S.A.'s bankruptcy proceeding, presented a general report
containing an audit of the firm's accounting and banking records in the
National Commercial Court of First Instance in Buenos Aires on Aug. 22,
2007.

Mr. Pereyra verified creditors' proofs of claim until
May 14, 2007.  He presented the validated claims in court as individual
reports on June 26, 2007.

Mr. Pereyra is also in charge of administering Arcangel
Gabriel's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

          Arcangel Gabriel Vezzato S.A.
          Tucuman 1545
          Buenos Aires, Argentina

The trustee can be reached at:

          Luis Pedro Pereyra
          Avenida Roque Saenz Pena 651
          Buenos Aires, Argentina


BANG SEUNG: Creditors Voting on Settlement Plan Today
-----------------------------------------------------
Bang Seung Ok's creditors will vote on a settlement plan that the company
will lay on the table on Aug. 22, 2007.

Hector Juan Kaiser, the court-appointed trustee for Bang Seung's
reorganization proceeding, verified creditors' proofs of claim until Nov.
3, 2006.  He presented the validated claims in court as individual reports
on Dec. 18, 2006.

A general report containing an audit of Bang Seung's accounting and
banking records was submitted in court on March 16, 2007.

The debtor can be reached at:

         Bang Seung Ok
         Chivilcoy 1925
         Buenos Aires, Argentina

The trustee can be reached at:

         Hector Juan Kaiser
         Montevideo 666
         Buenos Aires, Argentina


CABANA DON: Proofs of Claim Verification Ends Today
---------------------------------------------------
Alberto Javier Samsolo, the court-appointed trustee for Cabana
Don Joaquin S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim until Aug. 22, 2007.

Mr. Samsolo will present the validated claims in court as
individual reports on Oct. 3, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Cabana Don and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Cabana Don's
accounting and banking records will be submitted in court on
Nov. 14, 2007.

Mr. Samsolo is also in charge of administering Cabana Don's
assets under court supervision and will take part in their
disposal to the extent established by law.

Mr. Samsolo is also in charge of administering Cabana Don's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

        Alberto Javier Samsolo
        Paraguay 1225
        Buenos Aires, Argentina


CIRCULO DE SUBOFICIALES: Claims Verification Is Until Tomorrow
--------------------------------------------------------------
Estudio Cajido y Asociados, the court-appointed trustee for Circulo de
Suboficiales del Servicio Penitenciario Federal Argentino's reorganization
proceeding, is verifying creditors' proofs of claim until Aug. 23, 2007.

The National Commercial Court of First Instance No. 3 in Buenos Aires,
with the assistance of Clerk No. 6, approved a petition for reorganization
filed by Circulo de Suboficiales, according to a report from Argentine
daily La Nacion.

Estudio Cajido will present the validated claims in court as individual
reports.  The court will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by Circulo de Suboficiales and its
creditors.

Inadmissible claims may be subject for appeal in a separate proceeding
known as an appeal for reversal.

A general report that contains an audit of Circulo de Suboficiales'
accounting and banking records will be submitted in court.

La Nacion did not state the reports submission deadlines.

The informative assembly will be held on June 11, 2008.  Creditors will
vote to ratify the completed settlement plan
during the assembly.

The debtor can be reached at:

         Circulo de Suboficiales del Servicio
         Penitenciario Federal Argentino
         Emilio Lamarca 790/72
         Buenos Aires, Argentina

The trustee can be reached at:

         Estudio Cajido y Asociados
         Avenida Corrientes 1515
         Buenos Aires, Argentina


COMUNICACION DE ALTO: Proofs of Claim Verification Ends Today
-------------------------------------------------------------
Luis Maria Remanteria, the court-appointed trustee for
Comunicacion de Alto Standing SA's bankruptcy proceeding,
verifies creditors' proofs of claim until Aug. 22, 2007.

Mr. Remanteria will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 51, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Comunicacion de Alto and
its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Comunicacion de
Alto's accounting and banking records will be submitted in
court.

La Nacion didn't state the reports submission dates.

Mr. Remanteria is also in charge of administering Comunicacion
de Alto's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

         Comunicacion de Alto Standing SA
         Mendoza 236
         Buenos Aires, Argentina

The trustee can be reached at:

         Luis Maria Remanteria
         Piedras 1319
         Buenos Aires, Argentina


EL PASO: Fitch Says Ratings Unaffected by Peoples Energy Deal
-------------------------------------------------------------
Fitch ratings has said, El Paso Corporation's announcement that it has
entered into an agreement to acquire Integrys Energy Group's subsidiary
Peoples Energy Production Company, for US$875 million in cash will not
affect the ratings of El Paso or its subsidiaries.  El Paso plans to
permanently finance the transaction primarily through proceeds from its
ongoing divestiture program of non-core upstream assets.  The rating
outlook for El Paso and its subsidiaries is stable.  A complete list of
the ratings is included at the end of this release.

Through the acquisition of Peoples Production, El Paso will add
approximately 305 billion cubic feet equivalent of proven reserves,
approximately 42% of which are developed and 94% natural gas. The
transaction values the reserves at approximately 2.87 per thousand cubic
feet equivalent of reserves.  The reserves are primarily located in the
ArkLaTex and Texas Gulf Coast region, with significant overlap of El
Paso's existing reserve base. Production from the reserves is currently 72
million cubic feet equivalent per day for an estimated proven reserve life
of 11.6 years.

While Fitch typically views a proven developed percentage of between 60
and 80 percent as an indication of a balanced portfolio of upstream
assets, the Peoples Production reserves will provide immediate production
to El Paso as well as a significant source of future exploration and
development opportunities with more than 600 probable and possible
drilling locations.  The reserve life of El Paso's assets should also
improve with the acquisition.  El Paso estimates that the investment
required to develop the proven undeveloped reserves will total
approximately US$300 million.  Overall production expenses should improve
marginally as El Paso estimates the lifting costs of the acquired reserves
at 0.60 per mcfe as compared with its existing portfolio at 0.80 per mcfe.
The transaction is expected to close in the third quarter of 2007.

On Aug. 7, 2007, El Paso announced plans to divest of between 220 and 270
bcfe of proven reserves as part of an effort to upgrade its oil and gas
portfolio with divestments expected to be completed by the first quarter
of 2008.  The divestiture program represents up to 10% of the company's
estimated year-end 2006 reserves and 15% of production.  As a result of
the Peoples Production acquisition, El Paso also expects to benefit from
like kind exchange tax treatment for its divestment program.  Given the
net minimal near-term impact on overall leverage, production, operating
costs and total reserves as a result of the acquisition and divestiture
program, the transactions will not result in an immediate impact on El
Paso's credit quality.

El Paso Corporation:

  -- Issuer Default Rating 'BB+';
  -- US$500 million secured letter of credit facility (2011)
     'BBB-';
  -- US$1.25 billion senior secured revolving credit facility
     (2009) 'BBB-';
  -- US$500 million senior unsecured credit facility (2011)
     'BB+';
  -- Senior unsecured notes and debentures 'BB+';
  -- Perpetual preferred stock 'BB-'.

El Paso Energy Capital Trust I:

  -- Trust convertible preferred securities 'BB-'.

Colorado Interstate Gas Company:

  -- Issuer Default Rating 'BBB-';
  -- Senior unsecured debt 'BBB-'.

El Paso Natural Gas Company:

  -- Issuer Default Rating 'BBB-';
  -- Senior unsecured debt 'BBB-'.

El Paso Exploration & Production Company:

  -- Issuer Default Rating 'BB+';
  -- Senior secured revolving credit facility (2011) 'BBB-';
  -- Senior unsecured debt 'BB+'.

Southern Natural Gas Company:

  -- Issuer Default Rating 'BBB-';
  -- Senior unsecured debt 'BBB-'.

Tennessee Gas Pipeline Company:

  -- Issuer Default Rating 'BBB-';
  -- Senior unsecured debt 'BBB-'.

El Paso owns North America's largest interstate natural gas pipeline
network comprised of approximately 43,000 miles of pipe, 220 billion cubic
feet of storage capacity, and a liquefied natural gas import facility with
1.2 Bcf per day of send-out capacity.  The company's upstream operations
included year-end 2006 estimated reserves of approximately 2.4 billion
cubic feet equivalent of consolidated proven reserves and 222 bcfe of
proven reserves for El Paso's interest in Four Star.

Headquartered in Houston, Texas, El Paso Corp. (NYSE:EP) --
http://www.elpaso.com/-- provides natural gas and related energy products
in a safe, efficient, and dependable manner.
The company owns North America's largest natural gas pipeline system and
one of North America's largest independent natural gas producers.  The
company has operations in Argentina.


EL PASO: Peoples Energy Purchase Cues Moody's to Affirm Ratings
---------------------------------------------------------------
Moody's investors service has affirmed the debt ratings of El Paso
Corporation (Ba3 Corporate Family Rating) and its rated subsidiaries and
kept their rating outlook positive.  The rating action follows El Paso's
announcement of an US$875 million cash acquisition of Peoples Energy
Production Company, the E&P subsidiary of Integrys Energy Group, Inc.
When the acquisition closes this quarter, El Paso plans to finance it with
a combination of bank borrowings and available cash.  The rating
affirmation with the positive outlook is subject to El Paso paying down
the acquisition debt with proceeds from E&P asset sales over the next
couple of quarters, so that the net effect is leverage neutral.
Otherwise, the outlook could revert to stable.

"The leveraged acquisition will slow the positive momentum in El Paso's
credit, but this should be temporary if the company executes on its asset
sales and MLP IPO," says Moody's vice president Mihoko Manabe.

The company had US$1.3 billion in available liquidity at
June 30, 2007.  Without any additional capacity, the acquisition would
leave El Paso with adequate, though less than robust, liquidity for the
coming quarters.

El Paso expects to take public a new pipeline master limited partnership
in the fourth quarter of this year.  It plans to raise US$500 million in
the initial public offering.  Moody's positive outlook is subject to El
Paso using the proceeds to reduce debt.

The Peoples acquisition comprises 305 bcfe of proved reserves and 72
MMcfe/d of production, representing a roughly 10% increase from El Paso's
reserves and daily sales volumes.  This increase will be offset by 220 to
270 bcfe of reserves and up to 130 MMcfe/d of associated production that
El Paso plans to sell.  The intended net effect of the acquisition and
sale is to reduce exposure to the Offshore and certain Texas Gulf Coast
areas where decline rates and finding costs have been high.  As with El
Paso, the Texas Gulf Coast is central to the Peoples' assets and overall
operating performance, and Peoples' drillbit finding costs historically
have not been better than El Paso's.  It remains to be seen how successful
El Paso will be in improving its weak reserve replacement and full-cycle
cost metrics after the asset swaps.

Moody's notes that El Paso's base businesses continued to make progress in
2Q07, in line with expectations incorporated in the positive outlook.  E&P
production volumes rose 9% over the same quarter last year.  The pipelines
are showing incremental earnings from expansions, and interest expense is
down as a result of US$2.8 billion of net debt reductions in the first
half of this year, leaving total debt at US$11.9 billion at
June 30, 2007.

Headquartered in Houston, Texas, El Paso Corp. (NYSE:EP) --
http://www.elpaso.com/-- provides natural gas and related energy products
in a safe, efficient, and dependable manner.
The company owns North America's largest natural gas pipeline system and
one of North America's largest independent natural gas producers.  The
company has operations in Argentina.


EL PASO: Credit Suisse Reaffirms Outperform Rating on Shares
------------------------------------------------------------
Credit Suisse analysts have reaffirmed their "outperform" rating on El
Paso Corp.’s shares, Newratings.com reports.

Newratings.com relates that the target price for El Paso’s shares was set
at US$20.

The analysts said in a research note that El Paso’s acquisition of Peoples
Energy Production “is a positive development.”  It would accelerate El
Paso's high-grade initiative.

“The deal might not be immediately NAV accretive,” Newratings.com says,
citing the analysts.  However, the transaction “strengthens El Paso’s
foundation.”

El Paso’s “high-graded exploration and production portfolio” would “lend
increased optimism among the investors regarding the company's drilling
backlogs and ability to post organic production growth” of up to 6%,
following the proposed asset sales in early-2008, Credit Suisse told
Newratings.com.

Headquartered in Houston, Texas, El Paso Corp. (NYSE:EP)
-- http://www.elpaso.com/-- provides natural gas and related
energy products in a safe, efficient, and dependable manner.
The company owns North America's largest natural gas pipeline
system and one of North America's largest independent natural
gas producers.  The company has operations in Argentina.

As reported in the Troubled Company Reporter-Latin America on Fitch
Ratings has affirmed the ratings of El Paso Corporation and its core
pipeline subsidiaries, and assigned a senior unsecured rating of 'BB+' to
the company's proposed offering of US$1.275 billion of senior unsecured
notes due in 2014 and 2017. Proceeds from the note offering would be used
to refinance the US$1.2 billion of 7-3/4% senior unsecured notes at the
company's wholly owned upstream subsidiary, El Paso Exploration &
Production Company.  El Paso announced a cash tender offer and consent
solicitation for EEPC's notes on May 29, 2007.  Fitch also upgraded EEPC's
ratings, which are now the same as the parent company's ratings.  The
Rating Outlook for all ratings was Stable.


FORNITURE STYLE: Proofs of Claim Verification Deadline Is Today
---------------------------------------------------------------
Alfonso Raul Badaracco, the court-appointed trustee for Forniture Style
S.A.'s bankruptcy proceeding, verifies creditors' proofs of claim until
Aug. 22, 2007.

Mr. Badaracco will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 2 in Buenos
Aires, with the assistance of Clerk
No. 4, will determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges that will
be raised by Forniture Style and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding
known as an appeal for reversal.

A general report that contains an audit of Forniture Style's accounting
and banking records will be submitted in court.

La Nacion did not state the date for the submission of the reports.

Mr. Badaracco is also in charge of administering Forniture Style's assets
under court supervision and will take part in their disposal to the extent
established by law.

The debtor can be reached at:

          Forniture Style S.A.
          Avenida Cordoba 5799
          Buenos Aires, Argentina

The trustee can be reached at:

          Alfonso Raul Badaracco
          Esmeralda 980
          Buenos Aires, Argentina


HUNTSMAN CORP: Board Declares US$0.10 Per Share Cash Dividend
-------------------------------------------------------------
Huntsman Corporation's board of directors has declared a US$0.10 per share
cash dividend on its common stock.

The dividend is payable on Sept. 28, 2007, to stockholders of record as of
Sept. 15, 2007.

                       About Huntsman

Huntsman Corp. -- http://www.huntsman.com/-- manufactures and
markets differentiated and commodity chemicals.  Its operating
companies manufacture products for a variety of global
industries including chemicals, plastics, automotive, aviation,
textiles, footwear, paints and coatings, construction,
technology, agriculture, health care,  detergent, personal care,
furniture, appliances and packaging.  Originally known for
pioneering innovations in packaging and, later for rapid and
integrated growth in petrochemicals, Huntsman today has
operations in 24 countries, including Argentina, Belarus,
Japan, Luxembourg, Malaysia, Spain and teh United Kingdom, among
others.  The company had 2006 revenues from all operations of
over US$13 billion.

                        *     *     *

As reported in the Troubled Company Reporter on June 28, 2007,
Moody's Investors Service placed the debt ratings and the
corporate family ratings (CFR -- Ba3) for Huntsman Corporation
and Huntsman International LLC, a subsidiary of Huntsman under
review for possible downgrade.


JOTA K SRL: Proofs of Claim Verification Ends Tomorrow
------------------------------------------------------
Susana Teresa Cormons, the court-appointed trustee for Jota K
S.R.L.'s bankruptcy proceeding, verifies creditors' proofs of claim until
Aug. 23, 2007.

Ms. Cormons will present the validated claims in court as
individual reports on Sept. 10, 2007.  The National Commercial
Court of First Instance in Rafaela, Santa Fe, will determine if
the verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Jota K and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Jota K's accounting
and banking records will be submitted in court on Oct. 8, 2007.

Ms. Cormons is also in charge of administering Jota K's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

          Jota K S.R.L.
          Octavio Zobboli 1370, Rafaela
          Santa Fe, Argentina

The trustee can be reached at:

          Susana Teresa Cormons
          Santa Fe 742, Rafaela
          Santa Fe, Argentina


KOLMER SA: Proofs of Claim Verification Deadline Is Today
---------------------------------------------------------
Norma Elida Fistzen, the court-appointed trustee for Kolmer S.A.'s
bankruptcy proceeding, verifies creditors' proofs of claim Aug. 22, 2007.

Ms. Fistzen will present the validated claims in court as individual
reports on Oct. 3, 2007.  The National Commercial Court of First Instance
in Buenos Aires will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by Kolmer and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding
known as an appeal for reversal.

A general report that contains an audit of Kolmer's accounting and banking
records will be submitted in court on Nov. 15, 2007.

Ms. Fistzen is also in charge of administering Kolmer's assets under court
supervision and will take part in their disposal to the extent established
by law.

The trustee can be reached at:

          Norma Elida Fistzen
          Viamonte 1446
          Buenos Aires, Argentina


LAVALLE 714: Trustee Filing General Report in Court Today
---------------------------------------------------------
Carlos Alberto Menendez, the court-appointed trustee for
Lavalle 714 S.A.'s bankruptcy proceeding, will present a general report
that contains an audit of the firm's accounting and banking records in the
National Commercial Court of First Instance in Buenos Aires on Aug. 22,
2007.

Mr. Menendez verified creditors' proofs of claim until
May 29, 2007.  He presented the validated claims in court as individual
reports on July 11, 2007.

Mr. Menendez is also in charge of administering Lavalle's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

         Carlos Alberto Menendez
         Ventura Bosch 7098
         Buenos Aires, Argentina


METAL MASTER: Trustee Filing Individual Reports in Court Today
--------------------------------------------------------------
Orlando Juan Prebianca, the court-appointed trustee for Metal
Master S.A.'s bankruptcy proceeding, will present the validated claims as
individual reports in the National Commercial Court of First Instance in
Buenos Aires on Aug. 22, 2007.

Mr. Prebianca verified creditors' proofs of claim until
June 25, 2007.

A general report that contains an audit of Metal Master's
accounting and banking records will be submitted in court on
Oct. 3, 2007.

Mr. Prebianca is also in charge of administering Metal Master's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

          Orlando Juan Prebianca
          Uriburu 578
          Buenos Aires, Argentina


PINNACLE ENTERTAINMENT: Morgan Joseph Reaffirms Buy Rating
----------------------------------------------------------
Morgan Joseph analyst Adam Steinberg has reaffirmed his "buy" rating on
Pinnacle Entertainment Inc.’s shares, Newratings.com reports.

According to Newratings.com, the target price for Pinnacle Entertainment
was set at US$36.

Mr. Steinberg said in a research note that due to debt-related concerns,
Pinnacle Entertainment’s share price depreciated by 26% since Feb. 26,
2007.

Mr. Steinberg told Newratings.com that strength in Pinnacle
Entertainment’s “three core properties lends optimism regarding the
existing operations, along with upside from new initiatives.”

Pinnacle Entertainment’s Lumiere Place property could surpass
expectations, Newratings.com says, citing Morgan Joseph.

Headquartered in Las Vegas, Nevada, Pinnacle Entertainment Inc.
(NYSE: PNK) -- http://www.pnkinc.com/-- owns and operates
casinos in Nevada, Louisiana, Indiana and Argentina, owns a
hotel in Missouri, receives lease income from two card club
casinos in The Los Angeles metropolitan area, has been licensed
to operate a small casino in the Bahamas, and owns a casino site
and has significant insurance claims related to a hurricane-
damaged casino previously operated in Biloxi, Mississippi.
Pinnacle opened a major casino resort in Lake Charles, Louisiana
in May 2005 and a new replacement casino in Neuquen, Argentina
in July 2005.

                        *     *     *

As reported in the Troubled Company Reporter on June 4, 2007,
Standard & Poor's Ratings Services assigned its 'B-' rating to
Pinnacle Entertainment Inc.'s proposed US$350 million senior
subordinated notes due 2015.

On June 1, 2007, the Troubled Company Reporter related that
Fitch Ratings assigned a rating of 'B-/(Recovery Rating) RR5' to
the company's US$350 million senior subordinated notes due 2015.
The company's credit ratings were: (i) Issuer Default Rating of
'B'; (ii) Bank facility at 'BB/RR1'; (iii) Senior Subordinated
notes at 'B-/RR5'.  Fitch said the rating outlook is stable.


PLAPEL SA: Trustee Filing General Report in Court Today
-------------------------------------------------------
Miriam Gladys Colmegna, the court-appointed trustee for Plapel
S.A.'s bankruptcy proceeding, will present a general report containing an
audit of the firm's accounting and banking records in the National
Commercial Court of First Instance No. 22 in Buenos Aires on Aug. 22,
2007.

Ms. Colmegna verified creditors' proofs of claim until
May 10, 2007.  She presented the validated claims in court as individual
reports June 26, 2007.

Ms. Colmegna is also in charge of administering Plapel's assets
under court supervision and will take part in their disposal to
the extent established by law.

Clerk No. 43 assists the court on this case.

The trustee can be reached at:

          Miriam Gladys Colmegna
          Sarmiento 1179
          Buenos Aires, Argentina


REMISES EL RESERO: Trustee Filing Individual Reports Today
----------------------------------------------------------
Ricardo Jose Lisio, the court-appointed trustee for Remises El
Resero S.A.'s bankruptcy proceeding, will present the validated claims as
individual reports in the National Commercial Court of First Instance in
Buenos Aires on Aug. 22, 2007.

Mr. Lisio verified creditors' proofs of claim until
June 27, 2007.

A general report that contains an audit of Remises El Resero's
accounting and banking records will be submitted in court on
Oct. 3, 2007.

Mr. Lisio is also in charge of administering Remises El Resero's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

          Ricardo Jose Lisio
          Viamonte 1592
          Buenos Aires, Argentina


ROGGIE SA: Trustee Filing Individual Reports in Court Tomorrow
--------------------------------------------------------------
Jorge Alberto Arias, the court-appointed trustee for Roggie
S.A.'s bankruptcy proceeding, will present the validated claims as
individual reports in the National Commercial Court of First Instance in
Buenos Aires on Aug. 23, 2007.

Mr. Arias verified creditors' proofs of claim until
June 26, 2007.

A general report that contains an audit of Roggie's accounting
and banking records will be submitted in court on Oct. 4, 2007.

Mr. Arias is also in charge of administering Roggie's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

          Roggie S.A.
          Parana 426
          Buenos Aires, Argentina

The trustee can be reached at:

          Jorge Alberto Arias
          Avenida Corrientes 1312
          Buenos Aires, Argentina


TENNECO INC: Buying Combustion Components Business for US$16 Mln
----------------------------------------------------------------
Tenneco Inc. has signed an agreement to acquire for US$16 million the
mobile emissions business of Combustion Components Associates, Inc., a
manufacturer of air pollution control technologies.  The acquisition
enhances Tenneco's complete system integration capabilities for selective
catalyst reduction emissions control technologies designed to meet future
more stringent diesel emissions regulations for passenger cars and trucks.

CCA develops emissions control solutions for customers in the
transportation and power generation industries.  The company has designed
and manufactured a Nitrogen Oxides emission reduction system called
ELIM-NOx(TM), which is designed to reduce NOx emissions by 70 to 90
percent using SCR technology.  SCR is the process of removing NOx through
a chemical reaction and is considered the leading technology for helping
diesel engines meet the NOx emissions standards.  Customer demands for
this new technology, driven by regulations, will increase in the U.S.,
Europe and China starting in 2010 to 2012.

"This acquisition strengthens our advanced technology offering.
ELIM-NOx(TM) is one of the few proven high-performance systems for urea
and hydrocarbon injection.  Combined with the SCR technology we produce
today, Tenneco can offer our customers a fully-integrated emission control
system to meet stringent diesel emissions regulations for NOx reduction,"
said Gregg Sherrill, Tenneco Chairman and CEO.  "This technology allows us
to optimize both the performance and cost of a total aftertreatment
system, providing greater value for our customers globally."

The ELIM-NOx(TM) injector system and "self-learn" monitoring device are
unique.  The injector system is capable of providing rapid, uniform
dispersion of urea without the use of steam or compressed air, reducing
overall system lifecycle cost.  Tenneco believes that, with this
technology, it will be the only complete emissions control system
manufacturer with the capability to manufacture and integrate its own
injector systems into a diesel emissions control system.

The "self-learn" monitoring device -- which uses sensors to measure NOx,
exhaust temperature, and other engine parameters
-- significantly reduces vehicle development time and cost.  It is
temporarily mounted on a development vehicle as it operates in normal
driving conditions.  This helps minimize off-line vehicle testing and
calibration.

"The CCA self-learning capability is truly unique, allowing for very quick
prototyping of development vehicles.  We believe it will offer an
extremely attractive system integration alternative for our customers,
saving both time and money compared to traditional dynamometer calibration
techniques," said Tim Jackson, Tenneco Chief Technology Officer.

In addition to providing this innovative solution to original equipment
manufacturers, Tenneco will also sell retrofit versions of the
ELIM-NOx(TM) system for commercial vehicles.  Later this year, the company
expects to complete final validation testing for the system to be added to
the EPA list of verified retrofit technologies.

Tenneco will purchase CCA's mobile emission business for approximately
US$16 million.  The transaction is subject to customary closing
conditions, including receipt of various third party approvals.  Tenneco
expects the transaction to close in September.

Based in Lake Forest, Illinois, Tenneco Inc., (NYSE: TEN) --
http://www.tenneco.com/-- manufactures automotive ride and
emissions control products and systems for both the original
equipment market and aftermarket.  Brands include Monroe(R),
Rancho(R), and Fric Rot ride control products and Walker(R) and
Gillet emission control products.  The company has operations in
Argentina, Japan, and Germany.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on Aug. 17,
2007, Fitch Ratings has affirmed these ratings of Tenneco, Inc:

  -- Issuer Default Rating at 'BB-';
  -- Senior secured revolver at 'BB+';
  -- Senior secured term loan A at 'BB+';
  -- Senior secured tranche B-1 LC/revolver 'BB+';
  -- Senior secured second lien notes 'BB';
  -- Senior subordinated notes at 'B'.

Fitch said the rating outlook remains Positive.


ZUG SA: Proofs of Claim Verification Deadline Is Today
------------------------------------------------------
Norberto Bonesi, the court-appointed trustee for Zug S.A.'s bankruptcy
proceeding, verifies creditors' proofs of claim until
Aug. 22, 2007.

Mr. Bonesi will present the validated claims in court as individual
reports on Oct. 5, 2007.  The National Commercial Court of First Instance
in Buenos Aires will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by Zug and its creditors.

Inadmissible claims may be subject for appeal in a separate proceeding
known as an appeal for reversal.

A general report that contains an audit of Zug’s accounting and banking
records will be submitted in court on Nov. 16, 2007.

Mr. Vulej is also in charge of administering Zug's assets under court
supervision and will take part in their disposal to the extent established
by law.

The trustee can be reached at:

          Norberto Bonesi
          Avenida Juan B. Justo 5096
          Buenos Aires, Argentina




=============
B E R M U D A
=============


GENERAL MILLS: Proofs of Claim Filing Deadline Is Today
-------------------------------------------------------
General Mills Global Holdings Two Ltd.'s creditors are given until Aug.
22, 2007, to prove their claims to Ernest A. Morrison, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names
and addresses of their lawyers, if any.

General Mills shareholders agreed on Aug. 1, 2007, to place the company
into voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Ernest A. Morrison
         Milner House, 18 Parliament Street
         Hamilton, Bermuda


GENERAL MILLS: Sets Final General Meeting for Sept. 10
------------------------------------------------------
General Mills Global Holdings Two Ltd.'s final general meeting is
scheduled on Sept. 10, 2007, at 10:00 a.m., at:

       Clarendon House, Church Street
       Hamilton, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC: Proofs of Claim Filing Ends Today
------------------------------------------
Man Mac Hawkwing 17A Ltd.'s creditors are given until
Aug. 22, 2007, to prove their claims to Beverly Mathias, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names
and addresses of their lawyers, if any.

Man Mac's shareholders agreed on Aug. 6, 2007, to place the company into
voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9, Bermuda


MAN MAC: Sets Final General Meeting for Sept. 28
------------------------------------------------
Man Mac Hawkwing 17A Ltd.'s final general meeting is scheduled on Sept.
28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC JACKOBSHORN: Proofs of Claim Filing Deadline Is Today
-------------------------------------------------------------
Man Mac Jackobshorn 8B Ltd.'s creditors are given until
Aug. 22, 2007, to prove their claims to Beverly Mathias, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names
and addresses of their lawyers, if any.

Man Mac's shareholders agreed on Aug. 6, 2007, to place the company into
voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9, Bermuda


MAN MAC JACKOBSHORN 8: Sets Final General Meeting for Sept. 28
--------------------------------------------------------------
Man Mac Jackobshorn 8B Ltd.'s final general meeting is scheduled on Sept.
28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC NORDEND: Proofs of Claim Filing Deadline Is Aug. 22
-----------------------------------------------------------
Man Mac Nordend 4A Ltd.'s creditors are given until
Aug. 22, 2007, to prove their claims to Beverly Mathias, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names
and addresses of their lawyers, if any.

Man Mac's shareholders agreed on Aug. 6, 2007, to place the company into
voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9, Bermuda


MAN MAC NORDEND: Will Hold Final General Meeting for Sept. 28
-------------------------------------------------------------
Man Mac Nordend 4A Ltd.'s final general meeting is scheduled on
Sept. 28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC VORAB: Proofs of Claim Filing Ends on Aug. 22
-----------------------------------------------------
Man Mac Vorab 6B Ltd.'s creditors are given until Aug. 22, 2007, to prove
their claims to Beverly Mathias, the company's liquidator, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full names,
addresses, the full particulars of their debts or claims, and the names
and addresses of their lawyers, if any.

Man Mac's shareholders agreed on Aug. 6, 2007, to place the company into
voluntary liquidation under Bermuda's Companies Act 1981.

The liquidator can be reached at:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9, Bermuda


MAN MAC VORAB: Sets Final General Meeting for Sept. 28
------------------------------------------------------
Man Mac Vorab 6B Ltd.'s final general meeting is scheduled on
Sept. 28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.




=============
B O L I V I A
=============


GOLDEN EAGLE: June 30 Balance Sheet Upside-Down by US$4.6 Mil.
--------------------------------------------------------------
Golden Eagle International Inc.'s consolidated balance sheet at June 30,
2007, showed US$6.2 million in total assets and
US$10.8 million in total liabilities, resulting in a US$4.6 million total
stockholders' deficit.

The company's consolidated balance sheet at June 30, 2007, also showed
strained liquidity with US$555,262 in total current assets available to
pay US$709,999 in total current liabilities.

Golden Eagle International Inc. reported a net loss of
US$3.8 million for the second quarter ended June 30, 2007, compared with a
net loss of US$613,070 for the same period in 2006.  During the three
months ended June 30, 2007, and
June 30, 2006, the company had revenues of US$0.

The increase in net loss was due to non-cash financing costs of US$3.4
million related to the issuance of Series B Convertible Preferred stock.
Without the inclusion of financing costs, net loss would have decreased by
US$248,338 or 40.1% to US$364,732 during the three-month period ended June
30, 2007, from US$613,070 during the same period in 2006.

Operating losses decreased by US$229,356 or 40% to US$345,229 for the
three months ended June 30, 2007, from US$574,585 for the three months
ended June 30, 2006.  The decreased loss was primarily due to decrease in
general and administrative expenses.

General and administrative expense decreased by US$221,841 or 40.9% to
US$302,218 for the three months ended June 30, 2007, from US$524,059
during the three months ended June 30, 2006.  The decrease in general
administrative expense is primarily attributable to a US$98,076 decrease
in legal expenses, a US$30,000 in accrued salary forgiveness by the
company's chief executive officer, and certain costs that have been
capitalized as part of the construction of the company's C Zone production
plant.

Full-text copies of the company's consolidated financial statements for
the quarter ended June 30, 2007, are available for free at
http://researcharchives.com/t/s?22b3

             No Revenues from Bolivian Operations

The company has had no revenues from its Bolivian operations since June
2004.  The company was forced to cease production from its Cangalli
prospect because of a local farmer's strike and legal issues not
associated with operations that resulted from the failure to comply with
Bolivian labor law.

The company has yet to produce revenues from its Precambrian properties in
eastern Bolivia or its Buen Futuro prospect found in those properties.  On
Oct. 31, 2006, the company began preliminary pilot operations on its C
Zone gold deposit on its Precambrian claims in eastern Bolivia.

                     Going Concern Doubt

Chisholm, Bierwolf & Nilson LLC, in Bountiful, Utah, expressed substantial
doubt about Golden Eagle International Inc.'s ability to continue as a
going concern after auditing the company's consolidated financial
statements for the years ended Dec. 31, 2006, and 2005.  The auditing firm
reported that the company has negative working capital and has incurred
substantial losses since its inception.  The company currently has no
mineral production and requires significant additional financing to
satisfy its outstanding obligations and resume and expand mining
production.  In addition, the company's ability to conduct operations
remains subject to other risks, including operating in isolated regions of
Bolivia and the concentration of operations in a single undeveloped area.

                      About Golden Eagle

Headquartered in Salt Lake City, Golden Eagle International Inc. (OTC BB:
MYNG.OB) -- http://www.geii.com/-- is a gold and copper exploration and
mining company with offices also in Santa Cruz, Bolivia.  The company is
concentrating its efforts on expanding its pilot operations into
production operations on its gold project on the C Zone within its 136,500
acres (213 square miles) in eastern Bolivia's Precambrian Shield.  In
addition, the company is working with its international engineering
consulting firm on a due diligence study on the company's A Zone Buen
Futuro gold and copper project.


* BOLIVIA: State Miner Mulling Treating Tailings
------------------------------------------------
Bolivia’s state-owned mining company Comibol is considering treating
tailings containing tin, silver and copper in the Oruro department,
Business News Americas reports.

BNamericas notes that Comibol is eyeing the San Miguel tailings in Oruro
that contain high amounts of tin, silver and gold.

Comibol is also considering processing the strippings from San Jose and
Itos that contain silver, lead and tin, BNamericas  says, citing former
Comibol mining and metallurgical products director Saul Cabrera.

Mr. Cabrera commented to BNamericas, "The idea is to clean up
environmental liabilities that could be used in production if they are
processed with new technologies and not with the same techniques used
previously."

Minerals are trading at higher prices on global markets, BNamericas says,
citing Mr. Cabrera.

"It is interesting to process those liabilities now and take advantage of
prices really quickly," Mr. Cabrera told BNamericas.

                        *     *     *

Fitch Ratings assigned these ratings on Bolivia:

                     Rating     Rating Date
                     ------     -----------
   Country Ceiling    B-       Jun. 17, 2004
   Long Term IDR      B-       Dec. 14, 2005
   Local Currency
   Long Term Issuer
   Default Rating     B-       Dec. 14, 2005




===========
B R A Z I L
===========


DELPHI CORP: Disclosure Statement Hearing Scheduled on Oct. 3
-------------------------------------------------------------
Upon Delphi Corporation and its debtor-affiliates’ oral request and their
delivery, by Sept. 6, 2007, of a:

  (1) disclosure statement for a plan of reorganization; and

  (2) request for approval of that disclosure statement and
      the procedures for the solicitation of plan votes;

The HO. Robert Drain of the U.S. Bankruptcy Court for the Southern
District of New York sets:

  (a) Sept. 28, 2007, at 4:00 p.m., prevailing Eastern time,
      as the deadline for parties-in-interest to file objections
      to the Disclosure Statement and the Solicitation
      Procedures;

  (b) Oct. 2, 2007, at 4:00 p.m., prevailing Eastern time, as
      the deadline to reply to those objections; and

  (c) Oct. 3, 2007, at 10:00 a.m., prevailing Eastern time,
      as the date on which the Court will consider approval of
      the Disclosure Statement and the Solicitation Procedures.

Judge Drain directs all objecting parties-in-interest to:

  (i) make a good faith effort to include language in their
      objections that will satisfy the objections; and

(ii) meet and confer with the Debtors at the offices of
      Skadden, Arps, Slate, Meagher & Flom LLP, at Four Times
      Square, in New York, on Oct. 1, 2007, at 8:30 a.m.,
      prevailing Eastern time, to discuss a possible resolution
      of the objections.

Headquartered in Troy, Mich., Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional headquarters in
Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
Mar. 31, 2007, the Debtors' balance sheet showed US$11,446,000,000 in
total assets and US$23,851,000,000 in total debts.  The Debtors' exclusive
plan-filing period expires on Dec. 31, 2007.  (Delphi Bankruptcy News,
Issue No. 80 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


DELPHI CORP: Wants to Establish Adversary Proceeding Procedures
---------------------------------------------------------------
Pursuant to Sections 102(1)(A), 105(a), 107, 108(a)(2), and
546(a) of the Bankruptcy Code and Rules 7004, 9006(c), and 9018
of the Federal Rules of Bankruptcy Procedure, the Delphi Corp. and its
debtor-affiliates seek the U.S. Bankruptcy Court for the Southern District
of New York's authority to:

  (a) enter into stipulations tolling the statute of limitations
      with respect to certain claims;

  (b) establish procedures for the identification of causes of
      action that should be preserved and the abandonment of
      certain causes of action; and

  (c) establish procedures for certain adversary proceedings.

John Wm. Butler, Jr., Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP, in Chicago, Illinois, notes that the Court-approved New Equity
Purchase and Commitment Agreement between Delphi Corp. and a group of
investors led by Appaloosa Management L.P. attaches a proposed framework
for a reorganization plan that generally provides for the payment and full
satisfaction of all claims through distributions of cash, common stock, or
both.
Accordingly, avoiding preferential transfers would provide no
benefit to the Debtors' estates because any party returning a
transfer would be entitled to a claim for the same amount, to be
paid in full under the plan, Mr. Butler tells the Court.  In
addition, avoiding statutory liens or prepetition setoffs would
provide little to no benefit to the Debtors' estates.
Consequently, the Debtors contemplate that their reorganization
plan will waive or release most if not all avoidance causes of
action.

The Debtors estimate that they may have more than 11,000
potential preference claims arising from transfers totaling
US$5,800,000,000 without taking into account potential defenses.
According to Mr. Butler, the constructively fraudulent transfer
reach-back period, made applicable by Section 544(b) of the
Bankruptcy Code and state law, is generally six years under the
law of Michigan and New York.  With a company of Delphi's size,
there are literally hundreds of thousands of transactions that
occurred during those constructively fraudulent transfer reach-
back periods, Mr. Butler points out.

Under the Bankruptcy Code, each Debtor only has until two years
after the entry of the order for relief to commence adversary
proceedings asserting avoidance causes of action, as well as
certain causes of action where the applicable statute of
limitations has been tolled by the Bankruptcy Code during the
initial two years of these chapter 11 cases, Mr. Butler
continues.  Although the Debtors do not intend to pursue
avoidance actions in light of their anticipated reorganization,
as a precautionary measure they must preserve the actions in some manner.

The Debtors therefore ask the Court to approve procedures
applicable to adversary proceedings that will permit all parties
to preserve the status quo as they finalize preparations for
confirming a reorganization plan by the end of the year.

                      Tolling Agreement

The Debtors ask the Court to approve a form of stipulation that,
without further Court order, tolls the applicable statute of
limitations on claims against participating parties.

The Debtors anticipate entering into stipulations with, among
others, General Motors Corporation, retained professional firms,
and insiders who received transfers.

                Avoidance Evaluation Procedures

The Debtors also ask the Court to approve criteria for reviewing,
evaluating, and selecting potential causes of action that should be
preserved.

In particular, the Debtors seek the Court's authority not to
pursue any preference action against an entity if the aggregate
value of transfers to, or for the benefit of, that entity is less than
US$250,000 in value.  If the preference action is against an insider or
involves a person or transaction associated with the U.S. Securities and
Exchange Commission investigation of the Debtors, then the Debtors will be
authorized to abandon the actions after notice to the Statutory
Committees.  If a Statutory Committee objects within 10 days after service
of the notice, the Debtors propose to bring the matter before the Court
for a ruling on whether the proposed abandonment satisfies Section 554(a)
of the Bankruptcy Code.

The Debtors seek to abandon these categories of preference
actions:

  * payments to parties with a secured or priority interest in
    the payments;

  * union dues;

  * pension plan contributions;

  * payments required under the terms of collective bargaining
    agreements;

  * payments to reimburse employee business expenses;

  * ordinary course wages, salaries, and employee benefits;

  * payments required by a garnishment to satisfy third-party
    judgments and obligations;

  * contributions to charitable organizations; and

  * payments to foreign suppliers, shippers, insurance
    providers, and utilities.

For purposes of identifying and preserving potential fraudulent
transfer claims, the Debtors will only review merger and
acquisition deals at or exceeding US$20,000,000; transfers to
Delphi's board of directors or strategy board members other than
for compensation or ordinary-course expense reimbursements;
unusual securities transactions; dividend distributions to 5%
shareholders; and Delphi's financially troubled supplier program.

The Debtors anticipate that during their review they may identify
additional causes of action, which, in the exercise of their reasonable
business judgment, should not be pursued.  The Debtors thus seek the
Court's permission to abandon, after notice to the Statutory Committees,
and without further Court order or notice under Bankruptcy Rule 6007,
claims (i) with insignificant value; (ii) where litigation costs would
likely exceed expected recovery; (iii) where the potential harm to
businesses outweighs expected recovery; or (iv) where valid defenses
exist.

If a Statutory Committee objects within 10 days after service of
the notice, the Debtors propose to bring the matter before the
Court for a ruling on whether the proposed abandonment satisfies
Section 554(a).

Mr. Butler asserts that the criteria strike a sensible balance
between the Debtors' duty to preserve valuable estate assets and
the extraordinary costs to preserve them, especially when there
is little chance that the Debtors will prosecute any of the
thousands of actions they will be commencing.

          Adversary Proceeding Commencement Procedures

The Debtors propose these procedures concerning the commencement
of adversary proceedings and service of process:

  * The Bankrupt Court Clerk will defer issuing a summons after
    the filing of a complaint, unless and until the Debtors
    intend to pursue the claims in the complaint;

  * The time within which the Debtors must serve summons and
    complaints in compliance with Rule 7004(a)(1) of the Federal
    Rules of Civil Procedure is extended to March 31, 2008,
    without prejudice to their right to seek further extensions.

The Debtors, Mr. Butler explains, seek the extension to preserve
the status quo and to avoid having to force all potential
defendants to retain counsel to defend against adversary
proceedings when most of them likely will be resolved by a
reorganization plan and never pursued.

                Stay of Adversary Proceedings

Moreover, the Debtors ask the Court to temporarily stay adversary
proceedings, as appropriate.  The stay will continue until the earlier of
service of process and further Court order.  During the stay, the Debtors
may amend their complaint, and after notice to the Statutory Committees,
dismiss it.  The Debtors intend to file under seal paper copies of the
complaints in the adversary proceedings and to have the docket for the
proceedings likewise sealed.

The Debtors believe that implementing the Proposed Procedures will help
them fulfill their fiduciary responsibility to preserve valuable estate
assets in a manner that would not unnecessarily disrupt the plan process
or their existing business relationships with potential defendants.

The Procedures, Mr. Butler avers, will reduce the administrative
and economic burdens of the adversary proceedings on the Debtors, the
Court, and potential defendants.  He maintains that most, if not all, of
the avoidance actions will likely remain unnecessary in light of the terms
of the Debtors' prospective reorganization plan.

Causes of action will remain dormant and become relevant only in
the unlikely event that the Debtors do not timely emerge from
Chapter 11, Mr. Butler clarifies.

                   About Delphi Corporation

Headquartered in Troy, Mich., Delphi Corporation (OTC: DPHIQ) --
http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional headquarters in
Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
Mar. 31, 2007, the Debtors' balance sheet showed $11,446,000,000
in total assets and $23,851,000,000 in total debts.  The Debtors'
exclusive plan-filing period expires on Dec. 31, 2007.  (Delphi Bankruptcy
News, Issue No. 80 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


HAYES LEMMERZ: Promotes James Yost as Executive Vice Pres. & CFO
----------------------------------------------------------------
Hayes Lemmerz International Inc. has promoted James A. Yost to the new
position of Executive Vice President and Chief Financial Officer.  Mr.
Yost previously served the company as Vice President, Finance and Chief
Financial Officer.  Mr. Yost is responsible for the global finance and
information technology functions.  Mr. Yost will continue to report to
Curtis J. Clawson, President, Chief Executive Officer and Chairman of the
Board.

Mr. Yost has strengthened the finance team and enhanced internal
accounting controls across the company.  Mr. Yost was also instrumental in
the success of the recent equity rights offering and debt refinancing,
which raised new equity, retired high cost debt, and strengthened the
balance sheet.

"Jim is a key member of the Hayes Lemmerz leadership team and has had
significant influence on the strategic and financial direction of the
Company.  He also led the recent share rights offering and debt
refinancing which bolstered our financial position," stated Mr. Clawson.
"We are very pleased to announce his promotion to Executive Vice President
and CFO, and will continue to rely on his expertise and leadership as we
guide our Company into its next phase of growth."

Mr. Yost joined Hayes Lemmerz in July 2002.  Mr. Yost retired from Ford
Motor Company in 2001, where he most recently served as Vice President of
Corporate Strategy.  He also held positions as Vice President and Chief
Information Officer, Executive Director of Corporate Finance, General
Auditor and Executive Director of Finance Process and Systems Development,
Finance Director of Ford Europe and Controller of Autolatina (South
America) during his 27-year career.  Mr. Yost graduated with a Bachelor of
Engineering Science degree in Computer Science from the Johns Hopkins
University in Baltimore, Maryland.  He also received a Masters of Business
Administration degree in Finance from the University of Chicago.

Headquartered in Northville, Michigan, Hayes Lemmerz
International Inc. (Nasdaq: HAYZ) -- http://www.hayes-
lemmerz.com/ -- global  supplier of automotive and commercial
highway wheels, brakes and powertrain components.  The company
has 30 facilities and approximately 8,500 employees worldwide.

The company has operations in India, Brazil and Germany, among
others.

                        *     *     *

As reported in the Troubled Company Reporter on May 4, 2007,
Moody's Investors Service raised to B3 from Caa1 the corporate
family and probability of default ratings of HLI Operating
Company, Inc., a wholly owned subsidiary of Hayes Lemmerz
International, and changed the rating outlook to stable from
negative.


HEXCEL CORP: Agrees to Provide Carbon Fiber for USEC Plant
----------------------------------------------------------
Hexcel Corporation had entered into an agreement with USEC Inc. and
Alliant Techsystems Inc. to supply carbon fiber required for USEC’s
planned American Centrifuge Plant for the enrichment of uranium for
commercial nuclear power reactors.  The centrifuge method of enrichment
will use over 11,500 rotor tubes and is more cost effective than the
alternative gas diffusion enrichment process.  Traditionally the rotors
were made of aluminum alloy, steel or fiberglass, but switching to
stronger and lighter weight carbon fiber allows for increased efficiency.

In September 2006 ATK announced that it had started demonstration and
qualification work on composite rotor tubes for the ACP.  USEC received a
Nuclear Regulatory Commission license to construct the ACP in April 2007.
Hexcel currently estimates that carbon fiber sales for the initial 3.8
million separative work units plant will be approximately US$100 million
starting in late 2008, with the majority of deliveries likely to be in the
2010 and 2011 depending on USEC and ATK’s manufacturing schedule.  The
agreement contemplates that USEC also may purchase significant quantities
of additional carbon fiber product needed for the ACP.

Mr. David E. Berges, Hexcel’s Chairman and Chief Executive Officer, said
“Hexcel is very pleased to be part of the USEC project which has the
potential for additional production to follow.  We also welcome this
opportunity to reinforce our long standing relationship as a supplier to
ATK.  We previously announced that we are targeting increasing the
penetration of our carbon fiber into high-end industrial applications, and
the USEC application complements this strategy.  Our capacity additions
for carbon fiber will be capable of supporting both aerospace and this
segment of the industrial market interchangeably.”

Headquartered in Stamford, Connecticut, Hexcel Corporation
(NYSE: HXL) -- http://www.hexcel.com/-- is an advanced
structural materials company.  It develops, manufactures and
markets lightweight, high-performance structural materials,
including carbon fibers, reinforcements, prepregs, honeycomb,
matrix systems, adhesives and composite structures, used in
commercial aerospace, space and defense and industrial
applications.

The company has operations in Australia, Brazil, China, France
and Japan, among others.

                        *     *     *

As reported in the Troubled Company Reporter on April 5, 2007,
Moody's Investors Service has raised the ratings of Hexcel
Corporation, Corporate Family Rating to Ba3 from B1.  The
ratings on Hexcel's senior secured credit facility have been
upgraded to Ba1 from Ba2, while the subordinated notes ratings
were upgraded to B1 from B3.  The ratings outlook was Stable.


LAZARD LTD: Unit Closes US$600-Mln Exchange Offer of 6.85% Notes
----------------------------------------------------------------
Lazard Ltd.'s subsidiary Lazard Group LLC, has completed its offer to
exchange an aggregate principal amount of up to US$600 million of its
outstanding 6.85% Senior Notes due 2017, for an equal aggregate principal
amount of its 6.85% Senior Notes due 2017, registered under the Securities
Act of 1933, as amended.

The Old Notes were originally issued on June 21, 2007, in a private
placement pursuant to Rule 144A under the Securities Act of 1933, as
amended.

The exchange offer expired at 5:00 p.m., New York time, on
Aug. 16, 2007.  Over 99% of Lazard Group's Old Notes were tendered and
accepted in the exchange offer.

The Exchange Notes are substantially identical to the Old Notes, except
that the Exchange Notes have been registered under the Securities Act and,
as a result, the transfer restrictions and registration rights provisions
applicable to the Old Notes do not apply to the Exchange Notes.

Lazard Ltd. (NYSE:LAZ) -- http://www.lazard.com/-- is a preeminent
financial advisory and asset management firms, that operates from 32
cities across 16 countries in North America, Europe, Asia, Australia and
South America.  With origins dating back to 1848, the firm provides advice
on mergers and acquisitions, restructuring and capital raising, well as
asset management services to corporations, partnerships, institutions,
governments, and individuals.  The company has locations in Australia,
Brazil, China, France, Germany, India, Japan, Korea and Singapore.

The company reported total assets of US$2.6 billion, total
liabilities of US$2.8 billion, and minority interest at
US$55.7 million, resulting in a total stockholders' deficit of
US$206.8 million as of March 31, 2007.


SOLECTRON CORP: Inks Service Contract with LSI Corporation
----------------------------------------------------------
Solectron Corporation has entered into a multi-year contract with LSI
Corporation (NYSE:LSI) for manufacturing services of the company’s
Engenio(TM) storage systems.  LSI will complete the transfer of operations
to Solectron by the first half of 2008.  Terms of the deal were not
disclosed.

“LSI is a premier provider of silicon-to-systems data storage, and we
believe our expertise in managing complex supply chains in collaboration
with LSI will help the company achieve its goals of greater efficiencies
and allow it to scale its business without increasing capital
investments,” said Doug Britt, executive vice president, Sales and Account
Management, Solectron.

Solectron will provide manufacturing services for the LSI Engenio™ storage
systems.  Solectron has a long history serving global brands in the data
storage segment.  Solectron’s award-winning Lean Six Sigma processes, the
Solectron Production System(TM), will play a central role in helping LSI
achieve time-to-market goals and cost benefits.

“As a contract manufacturing and services partner, Solectron is expected
to play a core part of our business strategy to realize operational
efficiencies that will better serve our customers and improve our
competitive position,” said Phil Bullinger, senior vice president and
General Manager, Engenio Storage Group, LSI Corporation.  “Solectron’s
long history in data storage systems, its leadership in build-to-order and
configure-to-order manufacturing, and its end-to-end Lean supply chain
solutions made Solectron the right partner.”

Headquartered in Milpitas, California, Solectron Corp.
(NYSE: SLR) -- http://www.solectron.com/-- provides a full
range of worldwide manufacturing and integrated supply chain
services to the world's premier high-tech electronics companies.
Solectron's offerings include new-product design and
introduction services, materials management, product
manufacturing, and product warranty and end-of-life support.
The company operates in more than 20 countries on five
continents including France, Malaysia, and Brazil, among others.
It had sales from continuing operations of US$10.6 billion in
fiscal 2006.

                        *     *     *

As reported in the Troubled Company Reporter on Dec. 14, 2006,
Standard & Poor's Ratings Services raised its corporate credit
and senior unsecured ratings on Milpitas, California-based
Solectron Corp. to 'BB-' from 'B+', and its subordinated debt
rating to 'B' from 'B-'.  S&P said the outlook is stable.

On May 9, 2007, Fitch Ratings affirmed Solectron Corporation's
ratings as:

    -- Issuer Default Rating at 'BB-';
    -- Senior secured bank facility at 'BB+';
    -- Senior unsecured debt at 'BB-'; and
    -- Subordinated debt at 'B+'.


VOTORANTIM GROUP: Moody's Puts Ba1 Rating on US$300-Mil. Notes
--------------------------------------------------------------
Moody's investors service has placed under review for possible upgrade the
Ba1 foreign currency rating on Votorantim Overseas Trading Operations --
Voto III's US$300 million guaranteed senior unsecured notes due 2014.  The
notes are jointly, severally, unconditionally and irrevocably guaranteed
by Votorantim Participacoes S.A. (100% guarantee liability; Votorantim),
Votorantim Celulose e Papel S.A. (guarantee liability limited to 15% of
the outstanding amount of the notes), Votorantim Cimento Brasil Ltda.
(guarantee liability limited to 45%), and Votorantim Metais Zinco Ltda.
(guarantee liability limited to 40%).

While the group's diversified portfolio, cost-efficient operations, strong
debt protection metrics and liquidity have been supportive of an
investment grade rating, its level of transparency and complex
organizational structure have been major constraining factors.  The rating
action of placing the notes rating under review for possible upgrade
recognizes both the operating improvements of Votorantim as well as the
efforts to improve transparency and simplify its corporate structure.

The review will focus on the sustainability of the group's operating
performance and its ongoing commitment to improve transparency to a level
that Moody's would consider to be more appropriate for an investment grade
issuer.  Some of the issues that Moody's is concerned about are the lack
of audited quarterly cash flow statements, better business segment
disclosure and a still complex organizational structure, even after recent
progress in this area.

Votorantim is a privately held conglomerate with a diverse business
portfolio that includes banking, metals and mining, pulp and paper,
cement, agribusiness, and chemicals.  Votorantim reported consolidated net
revenues of BRL28,978 million (US$13,293 million) in 2006.

Headquartered in Sao Paulo, Brazil, the Votorantim group is one of the
largest private industrial conglomerates in Latin America, with
large-scale production in cement, pulp and paper,
and metals and mining industries.  The group is also actively engaged in
the production of chemicals, frozen concentrated orange juice, energy,
financial services and venture capital
investments.


ZIM CORP: Incurs US$97,397 Net Loss in Quarter Ended June 30
------------------------------------------------------------
ZIM Corporation reported on Aug. 15, 2007, its financial results for the
first quarter ended June 30, 2007.

Net loss for the quarter ended June 30, 2007, was US$97,397.  The net loss
for the quarter ended June 30, 2006, was US$567,725.

Revenue for the quarter ended June 30, 2007, was US$538,027, a decrease
from US$705,797 for the quarter ended June 30, 2006.   ZIM's decrease in
revenue is primarily attributable to the decline in revenue from the
company's SMS aggregation services caused by the continued saturation of
the aggregation market.

"Consistent with previous announcements, ZIM continued to experience a
decrease in SMS aggregation revenues however, we continue to pursue
opportunities related to our Internet TV and Mobile Content platforms"
said Dr. Michael Cowpland, president and chief executive officer of ZIM.

ZIM had cash of US$319,561 as at June 30, 2007, as compared to US$772,015
for the period ending June 30, 2006, and US$441,637 at March 31, 2007.  As
at June 30, 2007, ZIM also had an amount due to the chief executive
officer, who is also a shareholder of US$46,930 with no amounts due to
financial institutions.

At June 30, 2007, the company's consolidated balance sheet showed US$1.2
million in total assets, US$986,519 in total liabilities, and US$200,308
in total stockholders' equity.

Full-text copies of the company's consolidated financial statements for
the quarter ended June 30, 2007, are available for free at
http://researcharchives.com/t/s?22ae

                      Going Concern Doubt

Raymond Chabot Grant Thornton LLP, in Ottawa, Canada, expressed
substantial doubt about ZIM Corporation's ability to continue as a going
concern aftr auditing the company's consolidated financial statements for
the years ended March 31, 2007, and 2006.  The auditing firm reported the
company has incurred a net loss of US$1,936,187 and provided US$198,143 of
cash from operations, during the year ended March 31, 2007.  The company
also has generated negative cash flows from operations during each of the
previous five years.

                        About ZIM Corp.

Ottawa, Canada-based ZIM Corporation (OTCBB: ZIMCF) --
http://www.zim.biz/-- is a mobile entertainment and Internet TV
service provider.  Through its global infrastructure, ZIM provides
publishing and licensing services for market-leading mobile content and
for peer to peer (P2P) Internet TV broadcasting.  The company has offices
in Brazil and London.


* BRAZIL: J. Bueno Urges Petrobras to Lessen Domestic Presence
--------------------------------------------------------------
Brazilian state-owned oil company Petroleo Brasileiro SA must lessen its
presence in the domestic oil and gas market, published reports say, citing
Rio de Janeiro state energy secretary Julio Bueno.

Petroleo Brasileiro dominates the oil and gas market in Brazil, Mr. Bueno
told BNamericas.

Mr. Bueno commented to Business News Americas, "The government should
actively look to increase the number of competitive players in the oil and
gas market in Brazil."

Petroleo Brasileiro must stop increasing its refining business, BNamericas
cites Mr. Bueno as saying.

Mr. Bueno told BNamericas, "For example, Petrobras [Petroleo Brasileiro]
is building the Abreu e Lima refinery in Pernambuco state with [Venezuelan
state oil company] PDVSA.  I don't personally agree with this investment.
Petrobras could leave it to other players."

Petroleo Brasileiro wants to become one of the world’s top oil and gas
firms, BNamericas relates.  However, Mr. Buenos said that no company could
reach the position by depending primarily on the Brazilian market.

"I wish Petrobras could boost its presence worldwide and at the same time
rely less on Brazil's market," Mr. Bueno commented to BNamericas.

BNamericas states that the reduction of Petroleo Brasileiro's presence in
the Brazilian oil and gas market “could come through the congress or
antimonopoly agencies.”

Mr. Bueno told BNamericas, "The government is Petrobras' controlling
shareholder."

Meanwhile, Mr. Bueno admitted to BNamericas that he supports Petroleo
Brasileiro’s plans to develop the Comperj petrochemical complex in Rio de
Janeiro.  He explained, "Comperj will be a petrochemical project, which is
a different business area.  The market trend in petrochemicals is still
not clear."

                       About Petrobras

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp-
- was founded in 1953.  The company explores, produces,
refines, transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

   -- 'BB' for long-term foreign currency credit rating,
   -- 'BB+' for long-term local currency credit rating, and
   -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook was stable.


* BRAZIL: State Firm Concludes Offloading Operation with Sevan
--------------------------------------------------------------
Brazilian state-owned oil firm Petroleo Brasileiro SA and Norwegian
services company Sevan Marine have concluded the world’s first offloading
operation with a mono-column Floating Production, Storage and Offloading,
according to a statement by Sevan Marine.

An FPSO is a moored ship-shaped facility that can produce oil from subsea
wells and store and offload the oil into shuttle tankers.

Business News Americas relates that these were used in the operation:

          -- Sevan Piranema FPSO vessel, and
          -- the Navion Bergen shuttle tanker.

Sevan Marine told BNamericas that the operation involved a “simulated
offloading operation.”  The operation tested and ratified all systems and
procedures in the offloading operation.

The FPSO will is in the Piranema field.  It will produce its first oil
next month, BNamericas states.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp-
- was founded in 1953.  The company explores, produces, refines,
transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil. Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.


* BRAZIL: State Firm OKs Regulation Changes in Pension Plan Fund
----------------------------------------------------------------
Brazilian state-owned oil company Petroleo Brasileiro SA said in a
statement that its executive board has ratified the changes in regulations
for its Petros pension plan fund.

Business News Americas relates that the changes are aimed at protecting
Petroleo Brasileiro against legal claims from employees and unions who
might not be satisfied with the Petros restructuring.

BNamericas notes that Petros’ restructuring involves the readjustment of
benefits.

Petroleo Brasileiro told BNamericas that the plan needs the pension plan
department of the social security ministry’s authorization.  It would cost
BRL700 million in 2007.

The BRL700 million is part of the BRL4.77 billion Petroleo Brasileiro
“will spend in the next 20 years to settle legal claims related to the
pension plans,” BNamericas states.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces, refines,
transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil.  Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.




===========================
C A Y M A N   I S L A N D S
===========================


ADROIT PRIVATE: Sets Final Shareholders Meeting for Sept. 7
-----------------------------------------------------------
Adroit Private Equity (Offshore) Ltd. will hold its final shareholders
meeting on Sept. 7, 2007, at 11:00 a.m., at:

         Fourth Floor, One Capital Place
         P.O. Box 847
         George Town, Grand Cayman
         Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Trident Directors (Cayman) Ltd.
         Attention: Kimbert Solomon
         P.O. Box 847
         George Town, Grand Cayman KY1-1103
         Cayman Islands
         Tel: (345) 949 0880
         Fax: (345) 949 0881


BAILEY COATES: Will Hold Final Shareholders Meeting on Sept. 7
--------------------------------------------------------------
Bailey Coates (Cayman) Ltd. will hold its final shareholders meeting on
Sept. 7, 2007, at 10:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         Gordon I. Macrae
         Attention: Korie Drummond
         Kroll (Cayman) Limited
         4th Floor
         Bermuda House, Dr. Roy’s Drive
         Grand Cayman, Cayman Islands
         Tel: (345) 946-0081
         Fax: (345) 946-0082


BNS MASTER: Proofs of Claim Filing Is Until Sept. 6
---------------------------------------------------
BNS Master Fund Ltd.'s creditors are given until Sept. 6, 2007, to prove
their claims to dms Corporate Services Ltd., the company's liquidator, or
be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

BNS Master's shareholders agreed on May 18, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Dms Corporate Services Ltd
       Attention: Jenny Suto
       Ansbacher House
       P.O. Box 1344
       Grand Cayman, KY1-1208
       Cayman Islands
       Tel: (345) 946 7665
       Fax: (345) 946 7666


CHINA INVESTMENT: Sets Final Shareholders Meeting for Sept. 7
-------------------------------------------------------------
The China Investment Company will hold its final shareholders meeting on
Sept. 7, 2007, at 10:30 a.m., at:

         450 Park Avenue, Suite 3201
         New York, New York

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Jack N Mayer
         The China Investment Company Limited
         Attention: Jerome M Balsam
         3rd Floor, 36C Bermuda House
         Dr Roy's Drive, George Town
         Grand Cayman, Cayman Islands
         Telephone: 1 212 838 7200


CV GROWTH: Proofs of Claim Filing Is Until Sept. 6
--------------------------------------------------
CV Growth Fund's creditors are given until Sept. 6, 2007, to prove their
claims to S.L.C. Whicker and K.D. Blake, the company's liquidators, or be
excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

CV Growth's shareholders agreed on July 18, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

          K.D. Blake
          Attention: Dube, Bekilizwe
          P.O. Box 493
          Grand Cayman KY1-1106
          Cayman Islands
          Tel: 345-949-4800
          Fax: 345-949-7164


FRONTIER IV: Will Hold Final Shareholders Meeting on Sept. 7
------------------------------------------------------------
Frontier IV Ltd. will hold its final shareholders meeting on Sept. 7,
2007, at 11:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         John Cullinane
         Derrie Boggess
         c/o Walkers SPV Limited
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands


IVY PARTNERS: Sets Final Shareholders Meeting for Sept. 7
---------------------------------------------------------
Ivy Partners Fund CI I will hold its final shareholders meeting on Sept.
7, 2007, at 11:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

         John Cullinane
         Derrie Boggess
         c/o Walkers SPV Limited
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9002
         Cayman Islands


JAPAN ADVISORY: Will Hold Final Shareholders Meeting on Sept. 7
---------------------------------------------------------------
Japan Advisory Ltd. will hold its final shareholders meeting on Sept. 7,
2007, at 11:00 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         Lawrence Edwards
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237


NEST FUNDING: Proofs of Claim Must be Filed by Sept. 7
------------------------------------------------------
Nest Funding Corp.’s creditors are given until Sept. 7, 2007, to prove
their claims to Shinji Arakawa, the company's liquidator, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Nest Funding's shareholders agreed on July 15, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Shinji Arakawa
       Kokusai BLDG, 9F1-1 Marunouchi 3-chome
       Chiyoda-ku, Tokyo


PARMALAT SPA: Judge Drain Issues Permanent Injunction Order
-----------------------------------------------------------
The Hon. Robert Drain of the U.S. Bankruptcy Court for the Southern
District of New York has granted permanent injunction as requested in the
Section 304 Petition filed by Dr. Enrico Bondi, as Extraordinary
Administrator of:

  (i) the Composition Debtors, composed of Parmalat Finanziaria
      S.p.A.; Parmalat S.p.A.; Parmalat Netherlands B.V.;
      Parmalat Finance Corporation B.V.; Parmalat Capital
      Netherlands B.V.; Dairies Holding International B.V.;
      Parmalat Soparfi S.A.; Olex S.A.; Eurolat S.p.A.; Lactis
      S.p.A.; Contal S.r.l.; Geslat S.r.l.; Newco S.r.l.;
      Centro Latte Centallo S.r.l.; Panna Elena S.r.l. and
      Parmengineering S.r.l.; and

(ii) the Liquidating Debtors, composed of Parma Food
      Corporation B.V.; Coloniale S.p.A., Parmatour S.p.A.; Hit
      S.p.A.; Hit International S.p.A.; Nuova Holding, S.p.A.
      and Eliair S.r.l.

Judge Drain ruled that the composition is given full force and
effect in the United States, and is binding on and enforceable
against all holders of claims against the Composition Debtors and their
successor, Reorganized Parmalat.

Judge Drain determined that all the creditors of the Composition
Debtors and Reorganized Parmalat, and all creditors of the
Liquidating Debtors, as applicable, with respect to any actions
that have been or may be taken in the United States, are further
enjoined from:

  (a) commencing or continuing any action or legal proceeding

      (x) against the Composition Debtors, the Liquidating
      Debtors, or any of their property or proceeds, and from
      seeking discovery of any nature against the Composition
      Debtors, the Liquidating Debtors, or any of their
      subsidiaries, insofar as the action asserts a claim that
      is subject to the Composition or otherwise subject to the
      Foreign Debtors' insolvency proceedings in Italy, or (y)
      to create, perfect or enforce any lien, setoff, or other
      claim against the Foreign Debtors;

  (b) enforcing any judicial, quasi-judicial, administrative or
      regulatory judgment or arbitration award obtained against
      the Composition Debtors, the Liquidating Debtors, or
      any of their affiliates, or any of their property or
      proceeds if the enforcement is based on a claim that is
      subject to the Composition or otherwise subject to the
      Italian Proceedings;

  (c) withdrawing from, setting off against, or otherwise
      applying property that is the subject of any trust or
      escrow agreement or similar arrangement in which any of
      the Composition Debtors or the Liquidating Debtors have
      interest in excess of certain allowed amounts; and

  (d) commencing or continuing any action or legal proceeding,
      including by way of counterclaim, against the Composition
      Debtors or any of their affiliates or any of their
      property or proceeds.

In his modified bench ruling on permanent injunction request,
Judge Drain said Section 304 allows a bankruptcy court to enjoin
any proceeding or action against a foreign debtor with respect to the
debtor itself and property involved in that foreign
proceeding.

Judge Drain further noted that Section 304 is "consistent with
the general policy of U.S. law to recognize the importance of
centralizing the administration of bankruptcy cases and estates
in the home jurisdiction and assisting, consistent with
appropriately protecting the rights of U.S. creditors against
unfair treatment or unfair discrimination, the home court to
conduct the debtor's reorganization, and also assisting the home
court, as is requested here, to implement the debtor's
reorganization."

In addition, Judge Drain finds that the foreign proceedings in
Parma provide for a comprehensive procedure for the orderly and
equitable distribution of the Foreign Debtors'assets and the just
treatment of creditors.  Generally, he adds, U.S. claimholders are not
discriminated against or unduly prejudiced or inconvenienced in the
Italian proceedings.

Judge Drain stated that while there are statements that the
Bankruptcy Court must consider whether the foreign proceeding is
being conducted in good faith, the primary focus of the
Bankruptcy Court's inquiry should be on the foreign court's
conduct of that proceeding and the underlying law governing that
proceeding.

"There's been no showing to me that the Italian courts lack the
ability to sanction such assertedly frivolous conduct, and I am
fairly confident that they do have the ability to control the
lawyers who are appearing before them from asserting frivolous or
obviously unfounded positions, and that they have the ability
ultimately to control Dr. Bondi, if that is indeed what he is
doing," Judge Drain stated in the ruling.

"Let me say that the proposed injunction does permit all of the
creditors affected by the injunction to return to the Bankruptcy
Court, in appropriate circumstances, for relief from the
injunction," Judge Drain continued.  "So that although I am
prepared to defer to the Italian Courts' determination of the
data certa issue, if, in fact, something occurs which would merit relief
from the injunction, the creditors have the right to come back [to the
Bankruptcy Court] to the extent that I have the reference from the
District Court."

Nothing in the Permanent Injunction Order will impair the effect
of certain judgment of permanent injunction against defendant
Parmalat Finanziaria, S.p.A., entered by the District Court on
July 29, 2004, including any and all obligations of the Foreign
Debtors, Reorganized Parmalat and their subsidiaries and
affiliates under the Consent and Undertakings of Defendant
Parmalat Finanziaria, S.p.A., dated July 28, 2004, as
incorporated by reference in the SEC Judgment, in connection with the
action styled Securities and Exchange Commission v. Parmalat Finanziaria,
S.p.A., Civ. No. 03 CV 10266 (PKC).

Moreover, Judge Drain ruled that nothing in the Order is intended to:

  -- limit the effect of that stipulation between Citibank,
     N.A., Citibank, N.A. International Banking Facility, Dr.
     Bondi, Reorganized Parmalat and the Foreign Debtors
     regarding Parmalat Paraguay S.A., dated November 30, 2006;
     and

  -- limit the jurisdiction of the Civil and Criminal Court of
     Parma or any other Italian court of competent jurisdiction
     with respect to the adjudication of claims brought by
     parties against the Foreign Debtors or any other person or
     entity, provided that any entity seeking to assert a claim
     arising under or relating to certain private placement
     notes and guaranty claims, is enjoined from commencing or
     continuing any action against the Foreign Debtors or
     Reorganized Parmalat with respect to the Noteholders'
     Notes.

To the extent the District Court has withdrawn the reference to
the Bankruptcy Court or otherwise asserted jurisdiction over the
Section 304 Petition, the Permanent Injunction will not apply to
Grant Thornton LLP and Grant Thornton International in any manner with
respect to their assertion of defenses, counterclaims, or any other
actions taken in connection with the conduct of these litigations:

  * Dr. Enrico Bondi v. Grant Thornton International, el al.,
    04 Civ. 9771 (LAK);

  * In re Parmalat Securities Litigation, 04 Civ. 0030 (LAK);

  * Gerald K. Smith, etc. v. Grant Thornton International, et
    al., 06 Civ. 00383 (LAK);

  * Food Holdings Limited and Dairy Holdings Limited, etc. v.
    Grant Thornton International, et al., 05 Civ. 9934 (LAK);

  * Parmalat Capital Finance Limited, etc. v. Grant Thornton
    International, et al., 06 Civ. 02991 (LAK);

  * G. Peter Pappas, etc. v. Bank of America Corporation, et
    al., 06 Civ. 3109 (LAK); or

with respect to any other actions which may be commenced by
Parmalat representatives, affiliates, successors or related
entities.

                        About Parmalat

Based 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 about 40 brand product lines, which include yogurt,
cheese, butter, cakes and cookies, breads, pizza, snack foods and
vegetable sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
or bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy
on April 13, 2005.

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 Dec. 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.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue No. 90;
http://bankrupt.com/newsstand/or 215/945-7000)


PURE IP: Proofs of Claim Filing Ends on Sept. 6
-----------------------------------------------
Pure IP Holdings creditors are given until Sept. 6, 2007, to prove their
claims to Brynley Davies, the company's liquidator, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Pure IP's shareholders agreed on July 13, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

          Brynley Davies
          P.O. Box 10310
          Alamander Way, Grand Pavilion
          West Bay Road, George Town
          Grand Cayman KY1-1003
          Cayman Islands
          Tel: (345) 945 3737
          Fax: (345) 945 3782


PURE IP: Will Hold Final Shareholders Meeting on Sept. 7
--------------------------------------------------------
Pure IP Holdings will hold its final shareholders meeting on Sept. 7,
2007, at:

         First Floor, Alamander Way
         Grand Pavilion, West Bay Road
         Grand Cayman, Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         David A.K. Walker
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237


RHICON 4XIM: Proofs of Claim Filing Is Until Sept. 6
----------------------------------------------------
The Rhicon 4XiM CMP Fund Ltd.’s creditors are given until
Sept. 6, 2007, to prove their claims to Linburgh Martin and John Sutlic,
the company's liquidators, or be excluded from receiving any distribution
or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Rhicon's shareholders agreed on June 26, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Linburgh Martin
       Attention: Kim Charaman
       Close Brothers (Cayman) Limited
       Fourth Floor, Harbour Place
       P.O. Box 1034
       Grand Cayman, KY1-1102
       Tel: (345) 949 8455
       Fax: (345) 949 8499


SA NOSTRA: Proofs of Claim Must be Filed by Sept. 6
---------------------------------------------------
SA Nostra International Finance Ltd.’s creditors are given until
Sept. 6, 2007, to prove their claims to K.D. Blake, the company's
liquidator, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

SA Nostra's shareholders agreed on July 18, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       K.D. BLAKE
       Attention: Camele Burke
       P.O. Box 493
       Grand Cayman KY1-1106
       Cayman Islands
       Tel: 345-949-4800
       Fax: 345-949-7164


SYSTEIA ALTERNATIVE: Sets Final Shareholders Meeting for Sept. 7
----------------------------------------------------------------
Systeia Alternative Risk Trading Fund will hold its final shareholders
meeting on Sept. 7, 2007, at 11:30 a.m., at the office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

         David A.K. Walker
         Attention: Jodi Jones
         P.O. Box 258
         Grand Cayman KY1-1104
         Cayman Islands
         Tel: (345) 914 8694
         Fax: (345) 945 4237


VEGA GLOBAL: Proofs of Claim Filing Is Until Sept. 6
----------------------------------------------------
Vega Global 3x Feeder Ltd.'s creditors are given until
Sept. 6, 2007, to prove their claims to Stuart K. Sybersma and Ian A. N.
Wight, the company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Global's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258


VEGA GLOBAL 3X: Proofs of Claim Filing Deadline Is Sept. 6
----------------------------------------------------------
Vega Global 3x Master Ltd.'s creditors are given until
Sept. 6, 2007, to prove their claims to Stuart K. Sybersma and Ian A. N.
Wight, the company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Global's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258


VEGA INVESTMENT: Proofs of Claim Filing Ends on Sept. 6
-------------------------------------------------------
Vega Investment Platform Funds Ltd.'s creditors are given until
Sept. 6, 2007, to prove their claims to Stuart K. Sybersma and Ian A. N.
Wight, the company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Investment's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258


VEGA LIQUIDITY: Proofs of Claim Filing Deadline Is Sept. 6
----------------------------------------------------------
Vega Liquidity Non-US Feeder Fund Ltd.'s creditors are given until Sept.
6, 2007, to prove their claims to Stuart K. Sybersma and Ian A. N. Wight,
the company's liquidators, or be excluded from receiving any distribution
or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Liquidity's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258


VEGA LIQUIDITY FUND: Proofs of Claim Must be Filed by Sept. 6
-------------------------------------------------------------
Vega Liquidity Fund Ltd.'s creditors are given until
Sept. 6, 2007, to prove their claims to Stuart K. Sybersma and Ian A. N.
Wight, the company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Liquidity's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258


VEGA MAG: Proofs of Claim Filing Ends on Sept. 6
------------------------------------------------
Vega Mag Ltd.'s creditors are given until Sept. 6, 2007, to prove their
claims to Stuart K. Sybersma and Ian A. N. Wight, the company's
liquidators, or be excluded from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Vega Mag's shareholders agreed on July 12, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Stuart Sybersma
       Attention: Mervin Solas
       Deloitte
       P.O. Box 1787
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 7500
       Fax: (345) 949 8258




===============
C O L O M B I A
===============


HANOVER COMPRESSOR: Completes Universal Compression Merger
----------------------------------------------------------
Hanover Compressor Company and Universal Compression Holdings Inc.
completed their merger of equals, originally announced in February 2007.
Effective Aug. 21, 2007, the common stock of the new combined company,
Exterran, will trade under the symbol “EXH” on the New York Stock
Exchange, and the common stock of Hanover and Universal will no longer be
traded.  Each common share of Hanover will be converted to 0.325 shares of
Exterran, and each common share of Universal will be converted to one
common share of Exterran.

“This combination of two great companies creates a leader in compression
and surface production solutions for the worldwide oil and gas industry,”
said Exterran’s President and Chief Executive Officer, Stephen A. Snider.
“The merger positions Exterran with a broad range of products and
services, a wide geographic presence and the financial strength necessary
to meet the full compression services and production and processing
equipment requirements of our customers around the globe.  Our terrific
team of employees has worked hard to reach this important milestone, and
we look forward to seizing the growth opportunities that our enhanced size
and scope provide.”

                   About Universal Compression

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. nka Exterran Holdings Inc. -- http://www.exterran.com/-- provides
natural gas compression equipment and services, primarily to the energy
industry in the United States, Argentina, Australia, Bolivia, Brazil,
Canada, China, Colombia, Ecuador, Indonesia, Mexico, Nigeria, Peru,
Russia, Switzerland, Thailand, Tunisia and Venezuela.  Its primary
fabrication facilities are located in Houston, Texas, and Calgary,
Alberta.

                    About Hanover Compressor

Headquartered in Houston, Texas, Hanover Compressor Company
(NYSE:HC) -- http://www.hanover-co.com/-- is in full service
natural gas compression and provider of service, fabrication and
equipment for oil and natural gas production, processing and
transportation applications.  Hanover sells and rents this
equipment and provides complete operation and maintenance
services, including run-time guarantees for both customer-owned
equipment and its fleet of rental equipment.  Founded in 1990
and a public company since 1997, Hanover's customers include
both major and independent oil and gas producers and
distributors as well as national oil and gas companies.  It has
locations in Argentina, Bolivia, Brazil, Colombia, Mexico, Peru,
Venezuela, India, China, Indonesia, Japan, Korea, Taiwan, the
United Kingdom, and Vietnam, among others.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 8, 2007,
Standard & Poor's Ratings Services placed the 'BB-' corporate
credit ratings on oilfield service company Hanover Compressor
Co. and its related entity Hanover Compression L.P. on
CreditWatch with positive implications.




===================
C O S T A   R I C A
===================


ALCATEL-LUCENT: Dresdner Kleinwort Keeps Hold Rating on Shares
--------------------------------------------------------------
Dresdner Kleinwort analyst Per Lindberg has kept his "hold" rating on
Alcatel-Lucent's shares, Newratings.com reports.

Mr. Lindberg said in a research note that the pre-merger restructuring
plan’s implementation was stopped due to the resistance from the labor
representatives in France.

Alcatel-Lucent may reach a compromise deal with the French union in the
coming weeks, Bloomberg News relates, citing Mr. Lindberg.  It would
involve substantial concessions from the firm’s pre-merger plans

Alcatel-Lucent would face more challenges in convincing the unions in
Germany, Italy, Belgium and Iberia to agree to “headcount reductions,”
Newratings.com states, citing Dresdner Kleinwort.

Headquartered in Paris, France, Alcatel-Lucent --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.  Alcatel-Lucent maintains operations in 130 countries,
including, Austria, Germany, Hungary, Italy, Netherlands,
Ireland, Canada, United States, Costa Rica, Dominican Republic,
El Salvador, Guatemala, Peru, Venezuela, Indonesia, Australia,
Brunei and Cambodia.  On Nov. 30, 2006, Alcatel and Lucent
Technologies Inc. completed their merger transaction, and began
operations as a communication solutions provider under the name
Alcatel-Lucent on Dec. 1, 2006.

                        *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.




===================================
D O M I N I C A N   R E P U B L I C
===================================


AES CORP: Fitch Affirms B+ Issuer Default Rating
------------------------------------------------
Fitch ratings has affirmed AES Corporation's Issuer Default Rating at
'B+', and assigned a short-term IDR of 'B'.

Fitch has also taken these rating actions:

AES:

  -- Senior unsecured to 'BB/RR1' from 'BB/RR2'

AES Trust III:

  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

AES Trust VII:

  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

In addition, Fitch affirmed these ratings:

AES:

  -- Senior secured credit facility at 'BB+/RR1';
  -- Junior secured notes at 'BB+/RR1'.

The positive rating actions reflect improvement in asset values based on
Fitch's updated recovery analysis.  Fitch uses a stressed valuation for
AES' assets, most of which are valued on a discounted cash flow basis
using a discount rate and terminal multiple specific to each asset's
operating and financial risks.  The stressed valuation is not reflective
of AES' current value as a going concern, and Fitch notes the estimated
asset values may be below current market levels. The trust preferred
securities also benefited from the company's redemption in 2006 of senior
subordinated notes, which reduced the structural subordination of the
trust preferred securities.

AES's ratings reflect the high level of parent-company recourse debt, the
structural subordination of that debt to project level debt, the reliance
on distributions from its subsidiaries for parent-company debt service,
and the shift in management's focus to growth from improving credit
quality. The ratings also reflect the company's large base of cash flows
from utility operations and contracted generation as well as the
diversification of cash flow sources.  The stable rating outlook reflects
Fitch's expectation that credit metrics will stay within parameters for
the current rating as the company focuses its cash on investing rather
than debt reduction for the next several years.

One area of concern is the company's continued problems with its financial
reporting.  AES has restated its financials five times during the last
three years, and delayed filing its 10-K twice. Resolving the remaining
Sarbanes-Oxley issues may result in further restatements and delays.
Although the restatements have been relatively minor and non-cash in
nature, the delays caused technical defaults under the company's bank
covenants.  While AES received waivers from its lenders in the past, the
current credit conditions may increase the difficulty of obtaining future
waivers and cause lenders to demand terms less favorable to the company.
The financial reporting problems also highlight the challenges of managing
operations spread across the world.

The current rating action does not affect the ratings of other AES
affiliates rated by Fitch.  In general, these rated entities are
bankruptcy remote from AES by virtue of their legal structure or by virtue
of their country of location.

AES is a leading global power company, with 2006 sales of US$12.3 billion.
AES operates in 28 countries, with generating capacity of 42,000
megawatts of electricity.

AES Corp.'s Latin America business group is comprised of generation plants
and electric utilities in Argentina, Brazil, Chile, Colombia, Dominican
Republic, El Salvador, Panama and Venezuela.  Fuels include biomass,
diesel, coal, gas and hydro.  The group also pursues business development
activities in the region.  AES has been in the region since May 1993, when
it acquired the CTSN power plant in Argentina.




=============
E C U A D O R
=============


PETROECUADOR: May Launch Int’l Tenders for Pie de Monte Blocks
--------------------------------------------------------------
Ecuadorian state-owned oil firm Petroecuador could launch international
tenders in September 2007 for the exploration of two coastal blocks and
three blocks in Pie de Monte Oriental, Business News Americas reports,
citing the nation’s hydrocarbons industry association head Rene
Ortiz-Duran.

Mr. Ortiz-Duran told BNamericas that Petroecuador president Carlos Pareja
Yannuzzelli said the international tenders are possible.

If a firm presents a letter expressing interest in the “ITT area,” an
international tender will be launched, BNamericas says, citing Mr.
Yannuzzelli.

Ecuadorian mines and oil minister Galo Chiriboga is open to negotiations
with international oil companies one by one, Mr. Ortiz-Duran told
BNamericas.  Minister Chiriboga understands the crisis Petroecuador is
experiencing as he comes from the previous administration of President
Alfredo Palacio and was the firm’s president.

Petroecuador produces 170,000 barrels per day of oil this year, compared
to 220,000 barrels per day of oil in January 2003, BNamericas says, citing
Mr. Ortiz-Duran.

"Our meeting with the minister was similar to the one we had with the
president of Petroecuador, who said the sector needs US$5.5-billion
investment in the next four to five years and that there is room for all,"
Mr. Ortiz-Duran commented to BNamericas.

Petroecuador, according to published reports, is faced with
cash-problems.  The state-oil firm has no funds for maintenance,
has no funds to repair pumps in diesel, gasoline and natural gas
refineries, and has no capacity to pay suppliers and vendors.
The government refused to give the much-needed cash alleging
inefficiency and non-transparency in Petroecuador's dealings.


UNIVERSAL COMPRESSION: Changes Company Name to Exterran Partners
----------------------------------------------------------------
Universal Compression Partners L.P. has changed its name to Exterran
Partners, L.P. concurrent with the closing of the merger of Hanover
Compressor Company and Universal Compression Holdings, Inc. into Exterran
Holdings, Inc.  Effective Aug. 21, 2007, Exterran Partners’ common units
will trade on the NASDAQ Global Select Market under the symbol “EXLP.”

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. -- http://www.universalcompression.com/-- provides natural
gas compression equipment and services, primarily to the energy
industry in the United States, Argentina, Australia, Bolivia,
Brazil, Canada, China, Colombia, Ecuador, Indonesia, Mexico,
Nigeria, Peru, Russia, Switzerland, Thailand, Tunisia and
Venezuela.  Its primary fabrication facilities are located in
Houston, Texas, and Calgary, Alberta.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 23, 2006,
Standard & Poor's Ratings Services raises its corporate credit
rating on Universal Compression Holdings Inc. to 'BB' from
'BB-'.  At the same time, assigns its 'BB' rating and '3'
recovery rating to Universal Compression's US$500 million
revolving credit facility.  The Houston, Texas-based oilfield
services company had approximately US$807 million in debt
outstanding following the IPO of its subsidiary Universal
Compression Partners L.P.


UNIVERSAL COMPRESSION: Closes Hanover Merger of Equals
------------------------------------------------------
Universal Compression Holdings Inc. and Hanover Compressor Company
completed their merger of equals, originally announced in February 2007.
Effective Aug. 21, 2007, the common stock of the new combined company,
Exterran, will trade under the symbol “EXH” on the New York Stock
Exchange, and the common stock of Hanover and Universal will no longer be
traded.  Each common share of Hanover will be converted to 0.325 shares of
Exterran, and each common share of Universal will be converted to one
common share of Exterran.

“This combination of two great companies creates a leader in compression
and surface production solutions for the worldwide oil and gas industry,”
said Exterran’s President and Chief Executive Officer, Stephen A. Snider.
“The merger positions Exterran with a broad range of products and
services, a wide geographic presence and the financial strength necessary
to meet the full compression services and production and processing
equipment requirements of our customers around the globe.  Our terrific
team of employees has worked hard to reach this important milestone, and
we look forward to seizing the growth opportunities that our enhanced size
and scope provide.”

                    About Hanover Compressor

Headquartered in Houston, Texas, Hanover Compressor Company
(NYSE:HC) -- http://www.hanover-co.com/-- is in full service
natural gas compression and provider of service, fabrication and
equipment for oil and natural gas production, processing and
transportation applications.  Hanover sells and rents this
equipment and provides complete operation and maintenance
services, including run-time guarantees for both customer-owned
equipment and its fleet of rental equipment.  Founded in 1990
and a public company since 1997, Hanover's customers include
both major and independent oil and gas producers and
distributors as well as national oil and gas companies.  It has
locations in Argentina, Bolivia, Brazil, Colombia, Mexico, Peru,
Venezuela, India, China, Indonesia, Japan, Korea, Taiwan, the
United Kingdom, and Vietnam, among others.

                   About Universal Compression

Headquartered in Houston, Texas, Universal Compression Holdings,
Inc. nka Exterran Holdings Inc. -- http://www.exterran.com/-- provides
natural gas compression equipment and services, primarily to the energy
industry in the United States, Argentina, Australia, Bolivia, Brazil,
Canada, China, Colombia, Ecuador, Indonesia, Mexico, Nigeria, Peru,
Russia, Switzerland, Thailand, Tunisia and Venezuela.  Its primary
fabrication facilities are located in Houston, Texas, and Calgary,
Alberta.

                        *    *    *

As reported in the Troubled Company Reporter on Nov. 23, 2006,
Standard & Poor's Ratings Services raises its corporate credit
rating on Universal Compression Holdings Inc. to 'BB' from
'BB-'.  At the same time, assigns its 'BB' rating and '3'
recovery rating to Universal Compression's US$500 million
revolving credit facility.  The Houston, Texas-based oilfield
services company had approximately US$807 million in debt
outstanding following the IPO of its subsidiary Universal
Compression Partners L.P.




=====================
E L   S A L V A D O R
=====================


PERRY ELLIS: Reports US$267,000 Net Income in Qtr. Ended July 31
----------------------------------------------------------------
Perry Ellis International Inc. reported results for the second quarter
ended July 31, 2007.  For the second quarter of fiscal 2008, total
revenues grew to US$195.3 million, a 14.2% increase compared to US$171.0
million in the second quarter ended
July 31, 2006.  Revenue increases were driven by several of the company’s
growth platforms -- Perry Ellis, golf and Hispanic lifestyles, direct
retail and international.  As anticipated, the shift in the retail
calendar moved some of the shipments from April into May, thus positively
impacting revenue growth during the second quarter of fiscal 2008.
Additionally, the company experienced a favorable shift in sales from
August into July.

EBITDA for the second quarter of fiscal 2008 grew 113% to US$8.3 million,
a US$4.4 million increase over the same period last year.  Net income was
US$267,000 compared to a net loss of US$2.5 million for the same period
last year.

“We are very satisfied with the 14% organic growth achieved this quarter.
The power of our brands and the validity of our multi-brand,
multi-channel, multi-product strategy, are clearly evidenced in our record
second quarter and first half results.  During the first half of fiscal
2008, we achieved solid growth across all platforms and excellent
sell-throughs,” Oscar Feldenkreis, President and Chief Operating Officer
commented.  “Our unique ability to interpret different lifestyles and
position them in specific channels is a core competency of Perry Ellis
International.”

Strong revenue growth along with gross profit margin expansion and a 185
basis point reduction in operating expenses as a percent of sales fueled a
significant increase in operating income to US$5.1 million compared to
US$1.1 million for the same period last year.

The company ended the quarter with a strong balance sheet. Strong cash
flow allowed the Company to significantly reduce its debt level.  As of
July 31, 2007, overall long term debt decreased to US$175.6 million, a
reduction of US$61.4 million compared to the beginning of fiscal 2008.  As
a result, long term debt declined to 32% of total assets as compared to
40% on Jan. 31, 2007.

First half results for fiscal 2008 were in line with management’s
expectations, increasing revenues by 10.2% to US$424.1 million from
US$385.0 million during first half of fiscal 2007 while improving gross
profit margin by 62 basis points for the same period last year.  The
company also improved EBITDA margin by 106 basis points compared to first
half of fiscal 2007.  Net income increased to US$9.8 million from reported
net income of US$3.5 million and pro forma net income of US$5.4 million
during the same period last year.  Last year’s pro forma results exclude
the impact of US$3.0 million in debt extinguishment costs (US$1.9 million
net of taxes or US$0.13 per fully diluted share) incurred as a result of
the March 2006 repayment of the company's US$57 million senior secured
notes.  Pro forma results are presented solely as a supplemental
disclosure because management believes it is useful to compare the
company's current results to the prior year results without the charge
incurred during fiscal 2007.

George Feldenkreis, Chairman and Chief Executive Officer, commented, “We
feel confident about the second half of the year.  Strong results across
all our business platforms during the first half of fiscal 2008 have
positioned our Company in the best financial shape in its history and
confirmed our view of a record year for Perry Ellis International.”

The company increased its previously announced fiscal 2008 earnings
guidance from the range of US$1.81 to US$1.84 per fully diluted share, to
US$1.87 to US$1.91 per fully diluted share and confirmed its previously
announced fiscal 2008 revenue guidance with total revenues expected to be
in the range of approximately US$900 to US$910 million.

"We are pleased to increase our earnings guidance.  We feel that for the
second half of the year we will continue to do well according to plan,"
Mr. Feldenkreis concluded.

Perry Ellis International Inc., based in Miami, Florida,
designs, sources, markets and licenses a portfolio of brands
including Perry Ellis, Jantzen, John Henry, Cubavera,
Munsingwear, Original Penguin and Farah.  The company also
operates 38 retail locations including 3 Original Penguin
locations.  The company has sourcing offices in Indonesia,
India, Korea, Thailand, Peru, Nicaragua, and El Salvador.

                        *     *     *

In October 2006, Moody's Investors Service's confirmed its B1
Corporate Family Rating for Perry Ellis International, Inc., and
its B3 rating on the company's USUS$150 million senior
subordinated notes.

Additionally, Moody's assigned an LGD5 rating to those bonds,
suggesting noteholders will experience a 78% loss in the event
of a default.




=================
G U A T E M A L A
=================


BANCO INDUSTRIAL: Eyes Up to 25% Increase in Lending This Year
--------------------------------------------------------------
Banco Industrial Chief Executive Officer Luis Lara told Business News
Americas that the company expects lending to increase in nominal terms of
up to 25% in 2007, from 2006.

BNamericas relates that Banco Industrial’s expected loan growth would
raise its loan book to up to GTQ14.9 billion by year-end.  It would be
below the 30% expected yearly growth rate of credit in the banking system
for 2007.

Mr. Lara commented to BNamericas, "We will be growing below the system's
average because our credit risk policies are more conservative."

Once Banco Industrial reaches big deals with some corporate customers, its
loan portfolio could increase in line with the overall market, ending 2007
with GTQ15.5 billion in loans, BNamericas says.

Banco Industrial’s loan book rose 52% in nominal terms to GTQ12.0 billion
in 2006, compared to 2005, reflecting the absorption of former number six
Banco de Occidente in the fourth quarter 2006, BNamericas states.

Banco Industrial S.A. is the largest bank in Guatemala with
consolidated assets of approximately US$3.86 billion and equity
of US$327.4 million as of June 30, 2007.  Banco del Quetzal S.A.
reported US$232 million in assets and US$18 million in equity as
of June 30, 2007.  Grupo Financiero Banquetzal reported US$250
million in assets and US$21 million in equity as of June 30,
2007.

As reported in the Troubled Company Reporter-Latin America on Aug. 10,
2007, Moody's Investors Service affirmed the ratings of Banco Industrial
S.A. following the Guatemalan bank's announcement that its shareholders
have agreed to merge with Banco del Quetzal (Grupo Financiero Banquetzal),
the thirteenth largest bank in Guatemala.  The transaction is still
pending approval from the Guatemalan banking regulator.

These ratings were affirmed for Banco Industrial S.A.:

  -- Bank Financial Strength Rating: D, with stable outlook

  -- Global Local Currency Ratings: Baa3 long term local
     currency deposit rating and Prime-3 short term local
     currency deposit rating, with stable outlook

  -- Foreign Currency Deposit Ratings: Ba3, long term foreign
     currency deposit rating and Not Prime short term foreign
     currency deposit rating, with positive outlook


SPECTRUM BRANDS: Names John Bowlin as Board Chairman
----------------------------------------------------
Spectrum Brands Inc. has appointed John D. Bowlin as Chairman of the
Board.  Mr. Bowlin replaces David A. Jones, who is resigning his position
as a director after serving as Chairman of the Board since 1996, and as
Chief Executive Officer from 1996 until May 23, 2007.  Mr. Bowlin has been
a director of Spectrum Brands since May 2004 and is a member of the Audit
Committee and the Nominating and Corporate Governance Committee.

“The other Board members and I congratulate John on his appointment,” said
Kent Hussey, chief executive officer of Spectrum Brands.  “We appreciate
his continued service to the company and believe Spectrum will benefit
significantly from his leadership and extensive experience at some of the
world’s largest consumer products companies as we continue to make
progress on our strategy to improve operational performance while reducing
our leverage and interest burden.  I look forward to working closely with
him as Spectrum addresses the challenges and opportunities ahead.”

Mr. Hussey continued, “Dave Jones’ entrepreneurial leadership and guidance
over the past eleven years have been a driving force behind the growth of
Spectrum Brands into the world-class consumer products company that it is
today.  On behalf of the entire Board and the employees and customers at
Spectrum, we thank him for his leadership and contributions as chairman
and CEO and wish him well in his future endeavors.”

Mr. Bowlin has over 30 years of managerial and operational experience in
the consumer products industry.  Most recently, he was president and chief
executive officer of SABMiller PLC from 2002 to 2003.  Prior to that, he
held several senior executive positions at Phillip Morris Companies, Inc.,
including serving as chief executive officer of Miller Brewing Company
from 1999 to 2002, president and chief executive officer of Kraft Foods
International from 1996 to 1999 and as Kraft North America’s president and
chief operating officer from 1994 to 1996, and president of Oscar Meyer
Food Corporation from 1991 to 1993.  Previously, he held various positions
at General Foods Corporation.  In addition to his role at Spectrum Brands,
Mr. Bowlin currently serves as a board member at a number of
privately-held companies.

Headquartered in Atlanta, Georgia, Spectrum Brands (NYSE: SPC)
-- http://www.spectrumbrands.com/-- is a consumer products
company and a supplier of batteries and portable lighting, lawn
and garden care products, specialty pet supplies, shaving and
grooming and personal care products, and household insecticides.
Spectrum Brands' products are sold by the world's top 25
retailers and are available in more than one million stores in
120 countries around the world.  The company has manufacturing
and distribution facilities in China, Australia and New Zealand,
and sales offices in Melbourne, Shanghai, and Singapore.

The company operates in 13 Latin American nations including El
Salvador, Guatemala, Costa Rica, Colombia and Nicaragua.

                        *     *     *

As reported in the Troubled Company Reporter on April 30, 2007,
Fitch Ratings affirmed the ratings of Spectrum Brands Inc.,
including its CCC issuer default rating, its CCC- rating of the
company's US$700 million 7-3/8% senior subordinated note due 2015 and its
CCC- rating of the company's US$350 million 11.25%
Variable Rate Toggle Interest pay-in-kind Senior Subordinated
Note due 2013.  Fitch said the outlook remains negative.




===============
H O N D U R A S
===============


* HONDURAS: To Probe Alleged Illegal Use of Hondutel’s Networks
---------------------------------------------------------------
The Honduran government will launch an international auction to find a
firm to conduct a probe on the alleged illegal use of state telecom
Hondutel’s networks, news daily La Tribuna reports, citing congressional
president Roberto Micheletti.

Mr. Micheletti told Business News Americas that the hiring of an
international firm to conduct the investigation isn’t “open to
negotiation.”

BNamericas relates that the probe is under a plan to eradicate corruption
in Hondutel.

According to BNamericas, Honduran President Manuel Zelaya and Mr.
Micheletti decided to create a joint technical commission with members of
the legislative and executive branches to investigate corruption and
analyze a bill to reform the nation’s telecommunications sector.

BNamericas notes that the commission will set a time frame for the auction.

Illegal traffic is mainly due to the lack of competition in the long
distance market and high rates, BNamericas says, citing telecoms regulator
Conatel’s former head Dante Mossi.

In December 2005, the Honduran government partially “liberalized” the
nation’s long-distance telephony market, letting private firms become
sub-operators and purchase franchises to resell Hondutel services,
BNamericas states.

                        *     *     *

Moody's Investor Service assigned these ratings on Honduras:

                     Rating     Rating Date

   Senior Unsecured    B2       Sept. 29, 1998
   Long Term IDR       B2       Sept. 29, 1998




=============
J A M A I C A
=============


NATIONAL WATER: Conducting Extensive Trucking Operation
-------------------------------------------------------
The National Water Commission’s communications manager Charles Buchanan
told the Jamaica Information Service that the company will conduct an
extensive trucking operation to provide water to consumers across Jamaica
in response to Hurricane Dean.

Mr. Buchanan commented to Business News Americas that the trucking
operations may be complicated.  Many roads won’t be passable due to the
hurricane.

BNamericas notes that Mr. Buchanan asked all consumers to start storing
their water before facilities are shut down.

"Large sections of the water infrastructure exist in water courses, in
particular flood plains that may be affected," Mr. Buchanan told
BNamericas.

National Water head E.G. Hunter said in a statement that many wells and
intakes in Jamaica's 460 water supply systems are in low-lying areas that
are vulnerable to flooding during a hurricane.

Most systems’ operations heavily depend on electric supply, BNamericas
states, citing Mr. Hunter.  As of 2006 over 5,000 kilometers of pipeline
was at risk of:

          -- land slippage,
          -- pipeline dislocation, and
          -- breaking in the event of a hurricane.

                        *     *     *

As reported in the Troubled Company Reporter on Feb. 7, 2006,
the National Water Commission of Jamaica had been criticized for
failing to act promptly in cutting its losses.  For the fiscal
years 2002 and 2003, the water commission accumulated a net loss
of US$2.11 billion.  The deficit fell to US$1.86 billion the
following year, and to US$670 million in 2004 and 2005.




===========
M E X I C O
===========


BALLY TOTAL: Ends Interim Executive Services Pacts with Tatum
-------------------------------------------------------------
Bally Total Fitness Holding Corp. told Reuters that it has ended its
interim executive services accords with Tatum LLC.

Bally Total said in a regulatory filing that services of its interim Chief
Financial Officer Ronald Eidell and interim Corporate Controller Michael
Goldberg were terminated, effective Aug. 15.

Bally Total told Reuters that it failed to negotiate the retention of
Tatum, Eidell and Goldberg “on terms satisfactory to the U.S. trustee
appointed by a bankruptcy court.”

Based in Chicago, Illinois, Bally Total Fitness Holding Corp.
(Pink Sheets: BFTH.PK) -- http://www.ballyfitness.com/-- operates fitness
centers in the U.S., with over 375 facilities located in 26 states,
Mexico, Canada, Korea, China and the Caribbean under the Bally Total
Fitness(R), Bally Sports Clubs(R) and Sports Clubs of Canada (R) brands.

Bally Total and its affiliates filed for chapter 11 protection
on July 31, 2007 (Bankr. S.D.N.Y. Case No. 07-12396) after
obtaining requisite number of votes in favor of their pre-packaged chapter
11 plan.  Joseph Furst, III, Esq. at Latham & Watkins, L.L.P. represents
the Debtors in their restructuring efforts.  As of June 30, 2007, the
Debtors had US$408,546,205 in total assets and US$1,825,941,54627 in total
liabilities.

No schedule has been set to date for an organizational meeting
that would create an Official Committee of Unsecured Creditors.
The Court recently held that the meeting of creditors pursuant to Section
341(a) of the Bankruptcy Code will not be convened, and is canceled, if
the Debtors' Plan of Reorganization is confirmed on or prior to Oct. 16,
2007.


GRUPO MEXICO: To Award Generation Project to Third Party
--------------------------------------------------------
Grupo Mexico SA, de CV’s international relations vice president Juan
Rebolledo told Business News Americas that the firm will select a company
to build its 450-megawatt coal-fired generation project by the end of
2007.

Several companies presented offers to Grupo Mexico, BNamericas says,
citing Mr. Rebolledo.  The firm is nearing completion of the engineering
and basic economic studies.

BNamericas relates that Grupo Mexico made "important advances" in securing
authorization from energy regulator.  It is working with state power
company Comision Federal de Electricidad for the approval of the project’s
planned connection to the transmission network.

Mr. Rebolledo commented to BNamericas, "We hope all this will make it
possible to start the construction part of the project next year."

The project would take four years to build, BNamericas notes, citing Mr.
Rebolledo.

BNamericas says that the project would be situated in Sonora.  Grupo
Mexico will use the project to lessen power costs at its operations.

Grupo Mexico would consume 90% of the plant's “offtake,” BNamericas
states, citing Mr. Rebolledo.

Grupo Mexico SA de C.V. -- http://www.grupomexico.com/--
through its ownership of Asarco and the Southern Peru Copper
Company, Grupo Mexico is the world's third largest copper
producer, fourth largest silver producer and fifth largest
producer of zinc and molybdenum.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 29, 2006, Fitch upgraded the local and foreign currency
Issuer Default Rating assigned to Grupo Mexico, S.A. de C. V. to
'BB+' from 'BB'.  Fitch said the rating outlook was stable.


SANMINA: Moody's Puts Ratings Under Review for Possible Cut
-----------------------------------------------------------
Moody's Investors Service has placed the ratings of Sanmina-SCI
Corporation on review for possible downgrade based on the company's
continued poor operating results, which reflect weak demand from OEMs and
operational inefficiencies in the components business.

The electronic manufacturing services sector continues to be plagued by
excess capacity, competitive pricing pressures and ongoing business
restructurings.  Moody's review will focus on Sanmina's ability to grow
revenue across all of its end-market verticals, stabilize its operating
margins, effectively manage its working capital, rationalize its asset
base and generate proceeds from divestitures, namely the low margin PC
business.

Sanmina's leverage has increased from 5.4 (Moody's adjusted debt/EBITDA)
at the end of fiscal year 2006 to 7.2 as a result of weak EBIT levels
during the last three quarters.  The company's operating margin has
declined from 2.0% in fiscal year 2006 to 1.4% on a Moody's adjusted
basis.

Approximately US$1.6 billion of rated debt affected.

  Ratings under review for possible downgrade include:

  -- Ba3 Corporate Family Rating;

  -- Ba3 rating on US$300 million floating rate notes due 2010;

  -- Ba3 rating on US$300 million floating rate notes due 2014;

  -- B2 rating on US$400 million senior subordinated notes due
     2013;

  -- B2 rating on US$600 million senior subordinated notes due
     2016;

  -- SGL-2 Speculative Grade Liquidity Rating.

Headquartered in San Jose, California, Sanmina-SCI Corporation (NasdaqGS:
SANM) -- http://www.sanmina-sci.com/-- is a Electronics Manufacturing
Services (EMS) provider focused on
delivering complete end-to-end manufacturing solutions to technology
companies around the world.  Service offerings include product design and
engineering, test solutions, manufacturing, logistics and
post-manufacturing repair/warranty services.

The company has locations in Brazil, China, Ireland, Finland, Malaysia,
Mexico and Singapore, among others.




===============
P A R A G U A Y
===============


EXIDE TECHNOLOGIES: Wants Until October 31 to Object to Claims
--------------------------------------------------------------
Exide Technologies asks the U.S. Bankruptcy Court for the District of
Delaware to extend the time by which it may object to certain claims for
approximately 90 days, through and including Oct. 31, 2007.

Pursuant to the confirmed Joint Plan of Reorganization, the
Debtors, as reorganized, may object to claims filed against them
on or before the later of:

  (a) 90 days after the effective date of the Plan; or

  (b) within additional period of time as the Court may allow
      the Reorganized Debtor's further request.

Exide Technologies has previously obtained six extensions of the
Claims Objection Bar Date.

Matthew N. Kleiman, Esq., at Matthew N. Kleiman, P.C., in
Chicago, Illinois, relates that more than 6,100 proofs of claim,
seeking an aggregate of US$4,400,000,000, were filed in the
Chapter 11 cases.  Exide Technologies has filed 45 omnibus claims
objections, two individual objections to claims, and has
consensually resolved numerous other claims.

Through Exide Technologies', the Postconfirmation Committee of
Unsecured Creditors' and each of their professionals' efforts,
approximately 5,970 claims have been reviewed, reconciled and
resolved, reducing the total amount of outstanding claims by over
US$3,200,000,000.

Further, Mr. Kleiman narrates, Exide Technologies has completed
13 quarterly distributions to creditors under the Plan,
consisting of distributions on 2,508 claims in the aggregate
amount of US$1,660,000,000.

Moreover, the progress made through the claims reconciliation
process since the previous request for an extension has been
substantial, Mr. Kleiman says.  Since April 2007, Exide has filed five
claims objections, covering approximately 172 Claims.  It has also
resolved numerous additional Claims, including several top 100 claims,
effectuated a quarterly distribution, and further reduced the amount of
Claims to review and resolve by US$78,100,000.

However, despite the substantial progress, the Reorganized Debtor requires
additional time to review and resolve approximately 125 remaining Claims,
Mr. Kleiman avers.

Accordingly, the Reorganized Debtor asks the Court to grant the
proposed extension to the Claims Objection Bar Date.

Mr. Kleiman asserts that the requested extension will provide
Exide Technologies and the Committee with necessary time to
continue to evaluate the remaining claims filed against the
estate,  prepare and file additional objections to claims and,
where possible, consensually resolve claims.

Exide Technologies requests that the entry of an extension be
without prejudice to its right to seek further extensions of the
time within which to object to the claims.

By application of Del.Bankr.LR 9006-2, the Reorganized Debtor's
deadline to object to Claims has been automatically extended
through and including August 23, 2007, when the Court holds a
hearing to consider the merits of the Debtor's request.

                   About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The company has operations in 89 countries, including, Argentina, Belize,
Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador,
Guatemala, Panama, Paraguay, Peru, Uruguay and Venezuela

The company filed for chapter 11 protection on Apr. 14, 2002 (Bankr. Del.
Case No. 02-11125).  Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq.,
at Kirkland & Ellis, represented the Debtors in their successful
restructuring.  The Court confirmed Exide’s Amended Joint Chapter 11 Plan
on April 20, 2004.  The plan took effect on May 5, 2004.  (Exide
Bankruptcy News, Issue No. 99 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

                        *     *     *

Standard & Poor's Ratings Services, on April 2007, placed its 'CCC'
corporate credit rating on Exide Technologies and all related debt issue
ratings on CreditWatch with positive implications.  The CreditWatch
listing reflects Exide's gradually improving financial results,
strengthened liquidity, and prospects for further modest improvements in
financial metrics due in part to a better pricing environment.


EXIDE TECHNOLOGIES: Posts US$35.7 Mil. Net Loss in First Quarter
----------------------------------------------------------------
Exide Technologies filed a Form 10-Q with the U.S. Securities and Exchange
Commission on Aug. 7, 2007, reporting its financial results for its fiscal
2008 first quarter ended June 30, 2007.

The company said that its consolidated net sales for the fiscal
2008 first quarter aggregated US$762,400,000, an increase of
US$79,200,000 or 11.6% over the comparable prior year period.  It said
that a weaker dollar against the Euro, Pound Sterling and the Australian
Dollar favorably impacted net sales by
approximately US$31,700,000.  Excluding the impact of exchange
rates, strengthening unit volume in Transportation Americas and
favorable year-over-year pricing in all businesses were the
drivers of net sales growth.

The company, however, disclosed in a news release that it had a
net loss of US$35,700,000 for the fiscal 2008 period as compared with a
net loss of US$37,900,000 for the 2007 first quarter.  Exide said that
included in the current year's result is a non-recurring after tax loss on
early extinguishment of debt of US$21,300,000 relating to the company's
May 2007 refinancing of its Senior Secured Bank Credit Facility.  "This
charge was more than offset by higher gross profit, continued reductions
in selling, general and administrative expenses, a lower tax provision,
reduced interest expense and a US$6,800,000 reduction in restructuring
expenses, which were significantly higher in the prior year due to the
shutdown of the Shreveport, Louisiana transportation battery plant."

Consolidated Adjusted EBITDA improved by about 43% to US$39,000,000 in
fiscal 2008 as compared with US$27,200,000 in fiscal 2007.

Exide's president and chief executive officer, Gordon A. Ulsh,
stated, "We are clearly pleased with this, our fifth consecutive
quarter of strong year-over-year earnings improvement as measured by
Adjusted EBITDA.  However, we are also very cognizant of the continuing
challenges posed by the unprecedented rise in lead costs, which have
increased by 75% since the end of March 2007, based on the LME price of
US$3,389 per metric ton on Aug. 3, 2007."

At June 30, 2007, the company’s balance sheet showed total assets of
US$2,165,504,000, total liabilities of US$1,848,454,000 and total
stockholders' equity of US$301,913,000.

                  Transportation Segments

Exide added that net sales of its combined Transportation
segments grew by 17% (13% excluding the impact of favorable
foreign exchange) in the current year first quarter to
US$463,700,000 from US$397,300,000 in the fiscal 2007 period.  While the
increase is essentially price driven, the Transportation Americas business
also enjoyed an approximate 5% increase in unit sales, which offset more
modest unit sales reductions in Europe and Rest of World.

Adjusted EBITDA for the combined Transportation businesses
aggregated US$31,300,000 in the current year period versus
US$16,500,000 in fiscal 2007.  The Americas business accounted for
US$13,200,000 of the year-over-year increase.

Mr. Ulsh commented, "E.J. O'Leary and his team continue to drive
performance in all areas of their business from pricing actions
to plant productivity to greater customer satisfaction.  These
results are now being further rewarded with increased unit volume from our
largest aftermarket accounts and through our branch network."

                 Industrial Energy Segments

Combined net sales in the company's Industrial Energy segments
were US$298,700,000 as compared with US$285,900,000 in the fiscal 2007
period.  Excluding the favorable impact of favorable foreign exchange, net
sales declined in these segments by approximately US$3,800,000 in the
aggregate.  In both Industrial Energy segments the company continues to
see soft network power demand and more recently a pull back in motive
power demand.  However, the company has continued to respond with global
pricing initiatives, which have served to offset most volume declines.

From an Adjusted EBITDA perspective, the combined Industrial
Energy businesses experienced a reduction from US$24,400,000 in the fiscal
2007 period to US$16,900,000 in the current year period.  Most of the
reduction was experienced in the European and Rest of World segment.  In
addition to the volume reduction, thisbusiness continued to face headwinds
in the first quarter in its attempt to obtain sufficient pricing to cover
increased lead
costs.

                Unallocated Corporate Costs

Unallocated corporate expenses included in Adjusted EBITDA
amounted to US$9,200,000n in the fiscal 2008 period, a reduction of
US$4,500,000 from US$13,700,000 in the first quarter of fiscal 2007.  The
prior year's costs included approximately US$3,500,000 associated with the
subsequently withdrawn potential sale of the Industrial Energy Europe
business.

A copy of the Form 10-Q filed with the SEC is available at:

             http://ResearchArchives.com/t/s?22be

                  About Exide Technologies

Headquartered in Princeton, New Jersey, Exide Technologies
(NASDAQ: XIDE) -- http://www.exide.com/-- manufactures and
distributes lead acid batteries and other related electrical
energy storage products.

The company has operations in 89 countries, including, Argentina, Belize,
Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador,
Guatemala, Panama, Paraguay, Peru, Uruguay and Venezuela, among others.

The company filed for chapter 11 protection on Apr. 14, 2002 (Bankr. Del.
Case No. 02-11125).  Matthew N. Kleiman, Esq., and Kirk A. Kennedy, Esq.,
at Kirkland & Ellis, represented the Debtors in their successful
restructuring.  The Court confirmed Exide’s Amended Joint Chapter 11 Plan
on April 20, 2004.  The plan took effect on May 5, 2004.  (Exide
Bankruptcy News, Issue No. 99 Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)

                        *     *     *

Standard & Poor's Ratings Services, on April 2007, placed its 'CCC'
corporate credit rating on Exide Technologies and all related debt issue
ratings on CreditWatch with positive implications.  The CreditWatch
listing reflects Exide's gradually improving financial results,
strengthened liquidity, and prospects for further modest improvements in
financial metrics due in part to a better pricing environment.




=======
P E R U
=======


* PERU: Obtains US$400,000 Donation from World Bank
---------------------------------------------------
The World Bank has granted a US$400,000 through the Global Facility for
Disaster Reduction and Recovery (GFDR) to assist the Government of Peru in
responding to the aftermath of the earthquake that shook the south of Peru
on Aug. 15.

The grant from the World Bank will help the Government to finance
reconstruction planning for the most severely damaged areas.

At least 503 people have lost their lives and there are fears the number
could increase once the rubble is removed from the biggest buildings.
More than 35,000 homes have been destroyed and many people have been left
without water and sanitation.  The flow of electricity has also been
interrupted.

The current efforts also aim to re-establish basic services and quickly
study how to redirect funds from projects that are currently under
implementation, such as road construction, water and sanitation systems,
education and electrification, to help rebuild the affected areas.

At the same time, World Bank officials in Lima will continue to meet with
the highest Government and United Nations authorities to coordinate
reconstruction activities.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 2, 2007, Standard & Poor's Ratings Services assigned its
'BB+' foreign currency credit rating to the Republic of Peru's
(BB+/Stable/B foreign, BBB-/Stable/A-3 local currency sovereign
credit ratings) US$1.24 billion global bond due in 2037 issued
as part of a new liability management operation.




=====================
P U E R T O   R I C O
=====================


DORAL FINANCIAL: Reverse Stock Split Takes Effect Aug. 17
---------------------------------------------------------
Doral Financial Corporation's previously announced 1-for-20 reverse split
of its common stock became effective as of 5:00 p.m. Eastern Time on Aug.
17, 2007.  Doral's common stock began trading on a split-adjusted basis at
the market opening on
Aug. 20, 2007.

In connection with the reverse split, the total number of common shares
authorized under Doral's Restated Certificate of Incorporation will be
reduced from 1,950,000,000 to 97,500,000 shares.  The reverse split will
not change the number of shares of Doral's serial preferred stock
authorized, which will remain at 40,000,000 shares.

Treatment of Stock Options, Restricted Stock Units and Convertible
Preferred Stock

The number of common shares into which Doral's outstanding stock options
and convertible preferred stock, as well as their relevant exercise or
conversion price per share, and any outstanding restricted stock units
have been proportionally adjusted to reflect the reverse split.  The
number of shares authorized for issuance under Doral's Omnibus Incentive
Plan has also been proportionally reduced to reflect the reverse split.

                        Fractional Shares

Doral will not issue any fractional shares of its common stock as a result
of the reverse split.  Instead, Doral's transfer agent, Mellon Investor
Services LLC, will aggregate all fractional shares held by Doral
shareholders into whole shares and arrange for them to be sold on the open
market at prevailing prices.  In lieu of fractional shares, shareholders
will receive a cash payment equal to their allocable share of the total
proceeds of these sales.

Shareholders will not be entitled to receive interest for the period of
time between the effective date of the reverse split and the date the
shareholder receives his or her cash payment.

Shareholders holding fewer than twenty shares of Doral common stock will
receive only cash for all their shares held before the reverse split and
will no longer hold any shares of Doral common stock as of the effective
date of the split.

                      New Common Shares

Shareholders of record will receive a letter of transmittal providing
instructions for the exchange of their old certificates as soon as
practicable following the effectiveness of the reverse split.  Mellon
Investor Services has been retained to manage the exchange of stock
certificates. The new common shares may be maintained in direct
registration.  Direct registration allows shareholders to have their
common shares registered in their name in an electronic, book-entry
account maintained by Mellon, without the need for a physical certificate
to serve as evidence of ownership.  Shareholders who wish to hold their
shares in direct registration will not receive a stock certificate.
However, they will receive a statement of ownership acknowledging their
direct registration book-entry position.

Shareholders should not send in their old stock certificates until they
receive a letter of transmittal from Mellon Investor Services.
Shareholders who hold their shares in "street name" will be contacted by
their banks or brokers with any instructions.

                    About Doral Financial

Based in New York City, Doral Financial Corp. (NYSE: DRL) --
http://www.doralfinancial.com/-- is a diversified financial
services company engaged in mortgage banking, banking,
investment banking activities, institutional securities and
insurance agency operations.  Its activities are principally
conducted in Puerto Rico and in the New York City metropolitan
area.  Doral is the parent company of Doral Bank, a Puerto Rico
based commercial bank, Doral Securities, a Puerto Rico based
investment banking and institutional brokerage firm, Doral
Insurance Agency Inc. and Doral Bank FSB, a federal savings bank
based in New York City.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 2, 2007,
Fitch Ratings has placed Doral Financial Corporation's ratings
on Positive Outlook:

Doral Financial Corporation

  -- Long-term Issuer Default Rating 'CCC';
  -- Senior debt to 'CCC/RR4'';
  -- Preferred stock to 'C/RR6';
  -- Short-term Issuer Default Rating 'C';
  -- Support '5';
  -- Support Floor 'NF';
  -- Individual 'E'.

Doral Bank

  -- Long-term Issuer Default Rating 'B';
  -- Long-term deposits B+;
  -- Support '5';
  -- Support Floor 'NF';
  -- Individual 'D';
  -- Short-term Issuer 'B';
  -- Short-term deposit obligations 'B'.

As reported in the Troubled Company Reporter-Latin America on
July 23, 2007, Moody's Investors Service confirmed the B2 senior
debt rating of Doral Financial Corporation.  The rating had been
on review for possible downgrade since Jan. 5, 2007.  Following
the rating confirmation, Moody's changed the rating outlook to
stable.


JEFF RUIZ: Case Summary & 18 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Jeff Renoir Font Ruiz
        Calle Eider, Suite 988
        Country Club
        San Juan, PR 00924
        Tel: (787) 568-8305

Bankruptcy Case No.: 07-04648

Chapter 11 Petition Date: August 17, 2007

Court: District of Puerto Rico (Old San Juan)

Judge: Enrique S. Lamoutte Inclan

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  P.O. Box 7571
                  Caguas, PR 00726
                  Tel: (787) 746-4772
                  Fax: (787) 746-3633

Estimated Assets: US$1 Million to US$100 Million

Estimated Debts:  US$1 Million to US$100 Million

Debtor's List of its 18 Largest Unsecured Creditors:

   Entity                      Nature of Claim    Claim Amount
   ------                      ---------------    ------------
Doral Financial                1st Mortgage on        US$249,000
P.O. Box 13988                 Property
San Juan, PR 00908-3988

Banco Popular                  Credit Card Debt        US$38,000
P.O. Box 71375
San Juan, PR 00936-7077

Ferreteria Crespo              Credit Card Debt        US$30,000
Calle 538 Esq. El Comandante
4TA Ext. Countyr Club
Carolina, PR 00982

Carlos Noriega, Esq.           Attorney Fee            US$30,000

First Bank                     Credit Card Debt        US$19,400

                               2nd Mortgage on         US$18,000
                               Property

Luis Juarbe                    Personal Loan Debt      US$15,000

Popular Auto                   Lease Contract on       US$50,000
                               Vehicle                  Secured:
                                                       US$40,000
                                                      Unsecured:
                                                       US$10,000

American Express               Credit Card Debt        US$10,000

Arturo Diaz Mendez             Personal Debt           US$10,000

Maritza Diaz                   Personal Debt           US$10,000

Ladimila Delima                Personal Debt            US$9,000

Hector Santiago, Esq.          Professional Fees        US$7,200

Popular Auto                   Lease Contract          US$32,000
                               on Vehicle               Secured:
                                                       US$25,000
                                                      Unsecured:
                                                        US$7,000

Oriel Ramirez                  Personal Debt            US$6,500

Francisco Vazquez              Personal Debt            US$6,500

Internal Revenue Service       Tax Debt                 US$6,500

Arnaldo Lopez                  Personal Debt            US$6,000

Angel Negron                   Personal Debt            US$5,000




=============
U R U G U A Y
=============


* URUGUAY: Minister Denies State Firms’ Privatization
-----------------------------------------------------
Uruguayan industry minister Jorge Lepra has denied in a statement posted
on the presidential Web site press reports saying that state telecoms firm
Antel, state-run oil company Ancap and state-owned power firm UTE are
being considered for privatization.

Minister Lepra told Business News Americas that no plans are being
considered to change the companies’ ownership structure.  However, doesn’t
rule out changes to the companies in the future.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 31, 2007, Fitch Ratings upgraded Uruguay's foreign currency
sovereign Issuer Default Rating to 'BB-' from 'B+', the local
currency IDR to 'BB' from 'BB-', and its country ceiling to
'BB+' from 'BB'.  The Rating Outlook was Stable.  Fitch affirmed the
short-term IDR at 'B'.




=================
V E N E Z U E L A
=================


NORTHWEST AIRLINES: Court Approves M&T & MAC Settlement Pact
------------------------------------------------------------
Pursuant to Rule 9019(a) of the Federal Rules of Bankruptcy
Procedure, the Northwest Airlines Corp. and its affiliates obtained from
the U.S. Bankruptcy Court for the Southern District of New York an
approval for a settlement agreement dated July 19, 2007, relating to the
special facilities revenue bonds series 2001A and series 2005A.

The Settlement Agreement is among the Debtors; Manufacturers and
Traders Trust Company, solely in its capacity as successor
trustee to the original trustee, Wells Fargo Bank, National
Association, for the Bonds; and the Minneapolis-St. Paul
Metropolitan Airports Commission.

Mark C. Ellenberg, Esq., at Cadwalader, Wickersham & Taft LLP, in
Washington, D.C., tells the Court that the Settlement Agreement is a
comprehensive, integrated resolution of disputes among the Parties with
respect to their corresponding obligations related to:

  * the Minneapolis-St. Paul Metropolitan Airports Commission
    Special Facilities Revenue Bonds Series 2001A; and

  * the Minneapolis-St. Paul Metropolitan Airports Commission
    Special Facilities Revenue Refunding Bonds Series 2005A and
    the leases and other agreements related thereto.

According to Mr. Ellenberg, the Minneapolis-St. Paul
International Airport is one of Northwest's largest domestic hub
airports, wherein Northwest's operations represent an important
part of the Reorganized Debtor's operations and are a key
component of the Reorganized Debtor's reorganization.

Northwest and the MAC entered into an airline operating agreement and
terminal building lease Minneapolis-St. Paul International Airport, under
which Northwest leases property, including terminal space, aircraft
parking positions and baggage claim areas from the MAC at the Airport.
The Terminal Lease was
assumed pursuant to the the Debtors' Plan of Reorganization.

Mr. Ellenberg relates that pursuant to a Trust Indenture dated
June 1, 2001, between the MAC and Wells Fargo, the MAC issued, on June 26,
2001:

  -- the Series 2001A Bonds for the aggregate original principal
     amount of US$111,355,000 and bearing interest at 7.00%; and

  -- the Minneapolis-St. Paul Metropolitan Airports Commission
     Special Facilities Revenue Bonds Series 2001B for the
     aggregate original principal amount of US$25,000,000,
     bearing interest at 6.5%.

The Series 2001B Bonds were defeased through the issuance of the
Series 2005A Bonds for the aggregate original principal amount of
US$26,500,000, bearing interest at 7.375%, in January 2005.

Northwest unconditionally guaranteed the payment of the principal of,
premium, if any, and interest on the Bonds as they became due and payable
under the Indentures, pursuant to two Guaranty Agreements with the
Original Trustee, dated
June 1, 2001 and Jan. 1, 2005.

A portion of the proceeds of the Bonds was deposited into a
"Construction Fund" maintained by M&T; and, certain payments made by
Northwest under the Special Facilities Lease were deposited by the Trustee
or the Original Trustee into a "Revenue Fund" maintained also by M&T.

                   Adversary Proceeeding

After filing for bankruptcy, Northwest filed an adversary proceeding
against M&T and the MAC, asserting that the Special Facilities Lease is
not a "true lease" and that it should be treated as a disguised financing
for purposes of the Bankruptcy Code.

Northwest further sought a declaration that any claim against
Northwest in respect of the Special Facilities Lease or the other Bond
Agreements should be treated as "a pre-petition unsecured claim, to the
extent allowed."

Northwest also sought judgment avoiding a postpetition payment
made by Northwest under the Facilities Lease and ordering that
the payment be returned to Northwest.

M&T disputed Northwest's assertion, contending that Northwest
must comply with Section 365 of the Bankruptcy Code and pay its
postpetition lease obligations until the Bonds have been repaid
in full.

M&T asserted that, to the extent the Special Facilities Lease is
treated as a disguised financing for purposes of the Bankruptcy
Code, M&T's claims in respect of the Bonds would be secured based upon the
governing documents and upon a theory of equitable liens or mortgages, and
M&T requested adequate protection of its security interests.

After filing the Complaint, Northwest made timely payment of all
Bond Payment Obligations.  The balance, together with interest,
through July 13, 2007, totals US$15,752,566.

Consequently, M&T filed Claim Nos. 7497 and 11244 against the
Debtors with respect to the Bonds, each for US$142,275,839.  M&T
asserted that the Claims were secured Claims.

Pending resolution of the Adversary Proceeding, M&T and Northwest
stipulated on the modification of the automatic stay to enable M&T to
withdraw and disburse in accordance with the Indenture all amounts in the
Revenue Fund and all amounts in the Construction Fund in excess of
US$5,382,770, with each party otherwise reserving all rights with respect
to interests in and disbursement of the funds to be maintained in the
Construction Fund.

Upon the withdrawal and disbursement of the Excess Amounts, any
obligation of Northwest in respect of the Agreement or the Bonds
was reduced by the Excess Amounts.

M&T would maintain at least US$5,382,770 in the Construction Fund, and
refrain from seeking to withdraw and disburse the Retained Amount until
the Court has adjudicated or dismissed Northwest's cause of action for a
declaratory judgment.

The Stipulation also provided for the satisfaction of the accrued fees and
expenses of M&T and Wells Fargo, and creation of a reserve for future fees
and expenses of M&T.

As of March 1, 2007, the balance of the Construction Fund was
US$6,837,500 and the balance of the Revenue Fund was approximately
US$125,000.

In light of the associated risks of pursuing the Adversary
Proceeding and the need to continue uninterrupted operations at
the Airport, Northwest, the MAC, M&T, and holders of more than
97% of the outstanding principal amount of the Bonds have
determined that it is in their best interests as well as the best
interests of all of the holders of the Bonds to resolve the
Adversary Proceeding and other outstanding issues between the
Parties at this time pursuant to the terms of the Settlement
Agreement.

                    Settlement Agreement

To resolve all claims filed by M&T in Northwest's bankruptcy
case, as well as all amounts owed by Northwest on account of the
Bonds and the Bond Agreements, M&T will be granted:

  (a) an allowed general unsecured claim against Northwest for
      US$163,736,423, which is irrevocable and not subject to
      setoff;

  (b) US$15,752,566 from a segregated account, which Northwest
      will wire transfer to M&T on the first business day after
      the Court's Settlement Order becomes final, to be applied
      by the Trustee in accordance with the Indentures; and

  (c) authorization to immediately disburse the balance of
      the Construction Fund and the Revenue Fund, if any, in
      accordance with the Indentures.

Moreover, MAC will be allowed a US$71,598 General Unsecured Claim against
Northwest, which is not subject to setoff.

Upon release to M&T of the balance of each of the Accounts
pursuant to the Settlement Agreement, Northwest and the MAC will
have no further rights to the Accounts and the amounts deposited
therein.

The allowance of the M&T Allowed Claim and the MAC Allowed Claim
will be deemed (i) a prepayment in full of all of the Bond
Payment Obligations, and (ii) a full satisfaction of the MAC's
reletting obligations under the Bond Agreements.

Northwest will be relieved of all monetary obligations under the
Special Facilities Lease, other than certain obligations to MAC.

                 About Northwest Airlines

Northwest Airlines Corp. (NYSE: NWA) -- http://www.nwa.com/
-- is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and about
1,400 daily departures.  Northwest is a member of SkyTeam, an
airline alliance that offers customers one of the world's most
extensive global networks.  Northwest and its travel partners
serve more than 1000 cities in excess of 160 countries on six
continents.  Northwest and its travel partners serve more than 1000 cities
in excess of 160 countries on six continents, including Italy, Spain,
Japan, China, Venezuela and Argentina.

The company and 12 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).  Bruce R.
Zirinsky, Esq., and Gregory M. Petrick, Esq., at Cadwalader,
Wickersham & Taft LLP in New York, and Mark C. Ellenberg, Esq., at
Cadwalader, Wickersham & Taft LLP in Washington represent the
Debtors in their restructuring efforts.  The Official Committee of
Unsecured Creditors has retained Akin Gump Strauss Hauer & Feld LLP as its
bankruptcy counsel in the Debtors' chapter 11 cases.  When the Debtors
filed for bankruptcy, they listed US$14.4 billion in total assets and
US$17.9 billion in total debts.  On Jan. 12, 2007 the Debtors filed with
the Court their Chapter 11 Plan.  On Feb. 15, 2007, they Debtors filed an
Amended Plan & Disclosure Statement.  The Court approved the adequacy of
the Debtors' Disclosure Statement on March 26, 2007.  On May 21, 2007, the
Court confirmed the Debtors' Plan.  The Plan took effect May 31, 2007.

(Northwest Airlines Bankruptcy News, Issue No. 77; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)

                        *     *     *

As reported in the Troubled Company Reporter on June 4, 2007,
Standard & Poor's Ratings Services raised its ratings on Northwest
Airlines Corp. and its Northwest Airlines Inc. subsidiary, including
raising the long-term corporate credit ratings on both entities to 'B+'
from 'D', following their emergence from Chapter 11 bankruptcy
proceedings.  S&P said the rating outlook is stable.

In addition, S&P assigned a 'BB-' bank loan rating, one notch
above the corporate credit rating, with a '1' recovery rating, to
Northwest Airlines Inc.'s US$1.225 billion bankruptcy exit
financing, based on S&P's expectation of a full recovery of
principal in the event of a second Northwest bankruptcy.   That
bank facility converted from a debtor-in-possession credit
facility; S&P withdrew the 'BBB-' rating on the DIP facility.


PETROLEOS DE VENEZUELA: Drilling First Offshore Well
----------------------------------------------------
Venezuelan state-owned oil firm Petroleos de Venezuela SA will drill its
first offshore well before 2007 ends, President Hugo Chavez told weekend
talk show Alo Presidente.

State news agency Agencia Bolivariana de Noticias relates that the well
will be drilled off the coast of Delta Amacuro.

President Chavez commented to Business News Americas, "PDVSA [Petroleos de
Venezuela], not knowing the sea, has never drilled a well offshore.  This
will be the country's first offshore well in 100 years of oil
exploration."

Venezuela’s 760,000-square kilometer maritime territory could hold
"infinite" hydrocarbons reserves, Agencia Bolivariana states, citing
President Chavez.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


PETROLEOS DE VENEZUELA: Reporter Presents Drug Traffic Proof
------------------------------------------------------------
News daily Reporte de la Economia director and editor-in-chief Jose Palmar
presented to the Venezuelan Attorney General Office evidence of drug
traffic in oil tankers to support his allegations against state-owned oil
firm Petroleos de Venezuela SA, news Web site EFE reports.

Mr. Palmar commented to television news channel Globovision, "I am
bringing to the Attorney General Office precise evidence of drug traffic
in oil tankers, surcharges in purchase of drills and hiring of killers
inside Pdvsa [Petroleos de Venezuela]."

El Universal relates that Mr. Palmar was summoned to the Attorney General
Office and the National Assembly Comptroller Committee due to Reporte de
la Economia’s publishing of corruption allegations against Petroleos de
Venezuela.

According to El Universal, Mr. Palmar had submitted a set of documents at
the National Assembly on 63 alleged cases.

Mr. Palmar said that he was a follower of Venezuelan President Hugo Chavez
and that if Reporte de la Economia were to publish all news of corruption
in Petroleos de Venezuela, the Venezuelan leader would have “rolled a long
time ago,” El Universal states.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


* Upcoming Meetings, Conferences & Seminars
-------------------------------------------

July 5, 2007
TURNAROUND MANAGEMENT ASSOCIATION
  SummerFest
     Milwaukee's Lake Front, Milwaukee, Wisconsin
        Contact: 815-469-2935 or www.turnaround.org

July 5, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA-SA Exco Meeting
        Deloitte Place, Sandton, South Africa
           Contact: www.turnaround.org

July 12, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Bankruptcy Judges Panel
        University Club, Jacksonville, Florida
           Contact: http://www.turnaround.org/

July 12, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Young Professionals Billiards Night
        TBD, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

July 12-15, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Marriott, Newport, Rhode Island
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Body of Knowledge - CTP Review Class
        Chicago, Illinois
           Contact: http://www.turnaround.org/

July 17, 2007
  BEARD AUDIO CONFERENCES
     China’s New Enterprise Bankruptcy Law
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

July 17, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast & TMA Executive Board Meeting
        Cornell Club, New York, New York
           Contact: 646-932-5532 or www.turnaround.org

July 17, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Florida / Secured Lenders Marlins Baseball Game
        Dolphin Stadium, Florida
           Contact: 561-882-1331 or www.turnaround.org

July 18, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     South Florida Dinner
        TBA, South Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

July 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Mystic Blue Boat Cruise
        Navy Pier, Chicago, Illinois
           Contact: 815-469-2935 or www.turnaround.org

July 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     5th Annual Night of Excellence
        Petersen Automotive Museum, Los Angeles, California
           Contact: 310-458-2081 or www.turnaround.org

July 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Mystic Blue Boat Cruise
        Navy Pier, Chicago, Illinois
           Contact: 815-469-2935 or www.turnaround.org

July 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Young Professionals Networking Event
        Location TBA, Philadelphia, Pennsylvania
           Contact: 215-657-5551 or www.turnaround.org

July 23, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Charity Networking Event
        Loews Hotel, Philadelphia, Pennsylvania
           Contact: 215-657-5551 or www.turnaround.org

July 23, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Event Fundraiser
        Loews Hotel, Philadelphia, Pennsylvania
           Contact: 215-657-5551 or www.turnaround.org

July 23-24, 2007
  FINANCIAL RESEARCH ASSOCIATES
     Financial Restructuring 101 & 102
        The Flatotel, New York, New York
           Contact: http://www.frallc.com/

July 25, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Brown Bag Lunch
        Reid & Riege, New Haven, Connecticut
           Contact: www.iwirc.org

July 25-28, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     12th Annual Southeast Bankruptcy Workshop
        The Sanctuary, Kiawah Island, South Carolina
           Contact: http://www.abiworld.org/

July 26, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        TBA, Arizona
           Contact: http://www.turnaround.org/

July 26, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Golf Social Event
        Crystal Lake Golf Club, Lakeville, Minnesota
           Contact: 612-708-0258 or www.turnaround.org

July 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Colorado Chapter Annual Golf Tournament
        Kings Deer Golf Club, Monument, Colorado
           Contact: 303-847-5026 or www.turnaround.org

July 28, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Lake Tahoe Cruise: Getting to Know Your Nevada Associations
        Zephyr Cove, Lake Tahoe, Nevada
           Contact: 702-952-2480 or www.turnaround.org

July 31, 2007
  BEARD AUDIO CONFERENCES
     Non-Traditional Lenders and the Impact of
        Loan-to-Own Strategies on the
           Restructuring Process
              Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

July 31, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Enterprise Florida: Improving Florida's
        Business Climate and Helping Florida Companies
           Market Overseas
              Citrus Club, Orlando, Florida
                 Contact: http://www.turnaround.org/

Aug. 2, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA-SA Board Meeting
        Deloitte Place, Sandton, South Africa
           Contact: http://www.turnaround.org/

Aug. 3, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Women's Spa Event
        Short Hills Hilton, Livingston, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Aug. 9, 2007
  BEARD AUDIO CONFERENCES
     Technology as a Competitive Advantage For Today’s Legal Processes
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

Aug. 9-11, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     3rd Annual Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay
           Cambridge, Maryland
              Contact: http://www.abiworld.org/

Aug. 9, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Brown Bag Lunch
        Blum Shapiro & Co., West Hartford, Connecticut
           Contact: www.iwirc.org

Aug. 10, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Olympics Sportsman's Lunch
        Sofitel, Brisbane, Queensland, Australia
        Contact: 1300 303 863 or www.turnaround.org

Aug. 10, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Body of Knowledge - CTP Review Class
        Chicago, Illinois
           Contact: http://www.turnaround.org/

Aug. 16, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Colorado Chapter Annual Brew Pub & Pool Social
        Wynkoop Brewing Company, Denver, Colorado
           Contact: 303-847-5026 or www.turnaround.org

Aug. 16, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Young Professionals Networking Event
        TBA, Philadelphia, Pennsylvania
           Contact: 215-657-5551 or www.turnaround.org

Aug. 17, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Fishing Trip
        Point Pleasant, New Jersey
           Contact: 908-575-7333 or www.turnaround.org

Aug. 23-26, 2007
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Convention
        Drake Hotel, Chicago, Illinois
           Contact: http://www.nabt.com/

Aug. 24, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Fishing Trip
        Point Pleasant, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Aug. 28, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Healthcare Panel
        Centre Club, Tampa, Florida
           Contact: http://www.turnaround.org/

Aug. 29-30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     3rd Annual Northeast Regional Conference
        Gideon Putnam Resort and Spa, Saratoga Springs,
           New York
              Contact: http://www.turnaround.org/

Sept. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or www.turnaround.org

Sept. 6-7, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Complex Financial Restructuring Program
        Four Seasons, Las Vegas, Nevada
           Contact: http://www.turnaround.org/

Sept. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Southwest Bankruptcy Conference
        Four Seasons, Las Vegas, Nevada
              Contact: http://www.abiworld.org/

Sept. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Annual Networking at the Yards
        Oriole Park at Camden Yards, Baltimore, Maryland
           Contact: 215-657-5551 or www.turnaround.org

Sept. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Body of Knowledge - CTP Review Class
        Chicago, Illinois
           Contact: http://www.turnaround.org/

Sept. 18, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     14th Annual Connecticut Children's Medical Center
        Fundraiser Golf Outing
           Woodbridge Country Club, Woodbridge, Connecticut
              Contact: 203-265-2048 or www.turnaround.org

Sept. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Buying and Selling Troubled Companies
        Marriott North, Fort Lauderdale, Florida
           Contact: http://www.turnaround.org/

Sept. 20, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Lean Transformation at Current and Other Case Studies
        Denver Athletic Club, Denver, Colorado
           Contact: http://www.turnaround.org/

Sept. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Retail Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Sept. 26, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Joint Educational & Networking Reception
        TBD, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Sept. 26-27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Florida Annual Golf Tournament
        Tampa, Florida
           Contact: 561-882-1331 or www.turnaround.org

Sept. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        TBA, Arizona
           Contact: http://www.turnaround.org/

Sept. 27-30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     8th Annual Cross Border Business
        Restructuring & Turnaround Conference
           Contact: http://www.turnaround.org/

Oct. 2, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Bridgewater, New Jersey
           Contact: 908-575-7333 or http://www.turnaround.org/

Oct. 4, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or www.turnaround.org

Oct. 5, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/GULC "Views from the Bench"
        Georgetown University Law Center
           Washington, District of Columbia

Oct. 9-10, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING
     CONFEDERATION
        IWIRC Annual Fall Conference
           Orlando, Florida
              Contact: http://www.iwirc.org/

Oct. 10-13, 2007
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     81st Annual National Conference of Bankruptcy Judges
        Contact: http://www.ncbj.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 11, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Winn Dixie Bankruptcy
        University Club, Jacksonville, Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Oct. 12, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Presentation by George F. Will: The Political Argument Today
        Orlando, Florida
           Contact: www.ardent-services.com

Oct. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     ABI Educational Program at NCBJ
        Orlando World Marriott, Orlando, Florida
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 16-19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Copley Place
           Boston, Massachussets
              Contact: 312-578-6900; http://www.turnaround.org/

Oct. 23, 2007
  BEARD AUDIO CONFERENCES
     Partnerships in Bankruptcy
        Contact: 240-629-3300; http://www.beardaudioconferences.com/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Capital Markets Case Study
        Seattle, Washington
           Contact: http://www.turnaround.org/

Oct. 25, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Oct. 26, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Hotel Adlon Kempinski, Berlin, Germany
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        Centre Club, Tampa, Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Oct. 30, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Crisis Communications With Employees, Vendors and Media
        Centre Club, Tampa, Florida
           Contact: http://www.turnaround.org/

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or www.turnaround.org

Nov. 1, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Breakfast
        TBD, Hackensack, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 12, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Consumer Bankruptcy Conference
        Marriott, Troy, Michigan
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Mixer
        McCormick & Schmick's, Las Vegas, Nevada
           Contact: 702-952-2480 or www.turnaround.org

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Aloha Airlines Story
        Bankers Club, Miami, Florida
           Contact: www.turnaround.org

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Australia 4th Annual Conference and Gala Dinner
         Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 14, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Dinner
        TBA, South Florida
           Contact: 561-882-1331 or http://www.turnaround.org/

Nov. 15, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Portland Holiday Party
        University Club, Portland, Oregon
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 22, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Networking Mixer
        TBA, Vancouver, British Columbia
           Contact: 206-223-5495; http://www.turnaround.org/

Nov. 27, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon - Real Estate Panel
        Citrus Club, Orlando, Florida
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  INTERNATIONAL WOMEN'S INSOLVENCY & RESTRUCTURING CONFEDERATION
     Holiday Gala
        Yale Club, New York, New York
           Contact: www.iwirc.org

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        TBD, New Jersey
           Contact: 908-575-7333; http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Special Speaker
        Hilton, Sydney, Australia
           Contact: http://www.turnaround.org/

Nov. 29, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Arizona Chapter Meeting
        Contact: http://www.turnaround.org/

Dec. 6, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Seattle Holiday Party
        Athletic Club, Seattle, Washington
           Contact: 206-223-5495; http://www.turnaround.org/

Dec. 6-8, 2007
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Westin Mission Hills Resort, Rancho Mirage, California
           Contact: 1-703-739-0800; http://www.abiworld.org/

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or www.turnaround.org

Dec. 13, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     Holiday Extravaganza - TMA & CFA
        Georgia Aquarium, Atlanta, Georgia
           Contact: 678-795-8103 or www.turnaround.org

Dec. 19, 2007
  TURNAROUND MANAGEMENT ASSOCIATION
     South Florida Dinner
        TBA, South Florida
           Contact: 561-882-1331; http://www.turnaround.org/

Jan. 10, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Luncheon
        University Club, Jacksonville, Florida

Feb. 7, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     Breakfast Event
        Carnelian Room, San Francisco, California
           Contact: 510-346-6000 ext 226 or www.turnaround.org

Mar. 25-29, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Ritz Carlton Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

Apr. 3-6, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     26th Annual Spring Meeting
        The Renaissance, Washington, District of Columbia
           Contact: http://www.abiworld.org/

Apr. 25-27, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Spring Seminar
        Eldorado Hotel & Spa, Santa Fe, New Mexico
           Contact: http://www.nabt.com/

May 1-2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     Debt Symposium
        Hilton Garden Inn, Champagne/Urbana, Illinois
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 4-7, 2008
  ASSOCIATION OF INSOLVENCY & RESTRUCTURING ADVISORS
     24th Annual Bankruptcy & Restructuring Conference
        J.W. Marriott Spa and Resort, Las Vegas, Nevada
           Contact: http://www.airacira.org/

June 12-14, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     15th Annual Central States Bankruptcy Workshop
        Grand Traverse Resort and Spa, Traverse City, Michigan
           Contact: http://www.abiworld.org/

July 10-13, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     16th Annual Northeast Bankruptcy Conference
        Ocean Edge Resort
           Brewster, Massachussets
              Contact: http://www.turnaround.org/

July 31 - Aug. 2, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     4th Annual Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay
           Cambridge, Maryland
              Contact: http://www.abiworld.org/

Aug. 16-19, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     13th Annual Southeast Bankruptcy Workshop
        Ritz-Carlton, Amelia Island, Florida
           Contact: http://www.abiworld.org/

Aug. 20-24, 2008
  NATIONAL ASSOCIATION OF BANKRUPTCY JUDGES
     NABT Convention
        Captain Cook, Anchorage, Alaska
           Contact: http://www.nabt.com/

Sept. 24-27, 2008
  NATIONAL CONFERENCE OF BANKRUPTCY JUDGES
     National Conference of Bankruptcy Judges
        Scottsdale, Arizona
           Contact: http://www.ncbj.org/

Oct. 28-31, 2008
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott New Orleans, Louisiana
           Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2008
  AMERICAN BANKRUPTCY INSTITUTE
     20th Annual Winter Leadership Conference
        Westin La Paloma Resort & Spa
           Tucson, Arizona
              Contact: http://www.abiworld.org/

May 7-10, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     27th Annual Spring Meeting
        Gaylord National Resort & Convention Center
           National Harbor, Maryland
              Contact: http://www.abiworld.org/

June 21-24, 2009
  INTERNATIONAL ASSOCIATION OF RESTRUCTURING, INSOLVENCY &
     BANKRUPTCY PROFESSIONALS
        8th International World Congress
           TBA
              Contact: http://www.insol.org/

Sept. 10-12, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     17th Annual Southwest Bankruptcy Conference
        Hyatt Regency Lake Tahoe, Incline Village, Nevada
           Contact: http://www.abiworld.org/

Oct. 5-9, 2009
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Desert Ridge, Phoenix, Arizona
           Contact: 312-578-6900; http://www.turnaround.org/

Dec. 3-5, 2009
  AMERICAN BANKRUPTCY INSTITUTE
     21st Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, California
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 4-8, 2010
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        JW Marriott Grande Lakes, Orlando, Florida
           Contact: http://www.turnaround.org/

BEARD AUDIO CONFERENCES
  2006 BACPA Library
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com;
              http://researcharchives.com/t/s?20fa

BEARD AUDIO CONFERENCES
  BAPCPA One Year On: Lessons Learned and Outlook
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Calpine's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changes to Cross-Border Insolvencies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Changing Roles & Responsibilities of Creditors' Committees
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Clash of the Titans -- Bankruptcy vs. IP Rights
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Coming Changes in Small Business Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Dana's Chapter 11 Filing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Deepening Insolvency – Widening Controversy: Current Risks,
     Latest Decisions
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Diagnosing Problems in Troubled Companies
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Claims Trading
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Market Opportunities
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Distressed Real Estate under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Employee Benefits and Executive Compensation under the New
     Code
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Equitable Subordination and Recharacterization
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Fundamentals of Corporate Bankruptcy and Restructuring
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Handling Complex Chapter 11
     Restructuring Issues
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Healthcare Bankruptcy Reforms
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  High-Yield Opportunities in Distressed Investing
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Homestead Exemptions under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Hospitals in Crisis: The Insolvency Crisis Plaguing
     Hospitals Across the U.S.
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  IP Rights In Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  KERPs and Bonuses under BAPCPA
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Partnerships in Bankruptcy: Unwinding The Deal
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Privacy Rights, Protections & Pitfalls in Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Real Estate Bankruptcy
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Reverse Mergers—the New IPO?
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Second Lien Financings and Intercreditor Agreements
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Surviving the Digital Deluge: Best Practices in E-Discovery
     and Records Management for Bankruptcy Practitioners
        and Litigators
           Audio Conference Recording
              Contact: 240-629-3300;
                 http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Technology as a Competitive Advantage For Today’s Legal Processes
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Twenty-Day Claims
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  Validating Distressed Security Portfolios: Year-End Price
     Validation and Risk Assessment
        Audio Conference Recording
           Contact: 240-629-3300;
              http://www.beardaudioconferences.com/

BEARD AUDIO CONFERENCES
  When Tenants File -- A Landlord's BAPCPA Survival Guide
     Audio Conference Recording
        Contact: 240-629-3300;
           http://www.beardaudioconferences.com/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday. Submissions via e-mail
to conferences@bankrupt.com are encouraged.


                         ***********


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 - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA.
Marjorie C. Sabijon, Sheryl Joy P. Olano, Rizande de los Santos, and
Christian Toledo, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2746.

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 Latin America subscription rate is US$625 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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