/raid1/www/Hosts/bankrupt/TCRLA_Public/100416.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

              Friday, April 16, 2010, Vol. 11, No. 074

                            Headlines



A R G E N T I N A

* ARGENTINA: Meat Workers March to Protest Job Cuts
* ARGENTINA: New ATFA Ad Sets the Facts Straight on Debt Repayment


B E R M U D A

ALLOY AIRCRAFT: Court Enters Wind-Up Order
DIVISION SEVEN: Members and Creditors to Meet on May 11
H & R SERVICES: Creditors' Proofs of Debt Due on April 14
H & R SERVICES: Members to Receive Wind-Up Report on May 5
MANHATTAN INVESTMENT: Creditors' Proofs of Debt Due on April 30

XL CAPITAL: May be an Acquisition Target
XL CAPITAL: XL Insurance Reveals Program for Small A/E Firms


B R A Z I L

BANCO SOFISA: Moody's Affirms 'D+' Bank Financial Strength Rating
COMPANHIA SIDERURGICA: Will Raise Brazil Steel Prices by 7.5%
TRANSAX INT'L: Delays Filing of 2009 Annual Report on Form 10-K


C A Y M A N  I S L A N D S

AL-FURSA RUSSIA: Commences Wind-Up Proceedings
ANDISA CAPITAL: Commences Liquidation Proceedings
BELMONT ASSET: Commences Wind-Up Proceedings
BLACKHAWK REINSURANCE: Commences Wind-Up Proceedings
CENTENNIAL ABSOLUTE: Shareholders Receive Wind-Up Report

CENTENNIAL OPPORTUNITIES: Shareholders Receive Wind-Up Report
GENUS 15: Shareholders Receive Wind-Up Report
HERITAGE HEDGED: Shareholders Receive Wind-Up Report
HSBC GEM: Commences Wind-Up Proceedings
HSBC GEM: Commences Wind-Up Proceedings

IAM BRIC: Commences Liquidation Proceedings
LEHMAN BROTHERS: Wins Nod to Pay Fees of Cayman-Based SPVs
LEHMAN BROTHERS: Commences Wind-Up Proceedings
MORUMBI CAPITAL: Shareholders Receive Wind-Up Report
MUTUAL FUND: Shareholders Receive Wind-Up Report

MUTUAL FUND: Shareholders Receive Wind-Up Report
MUTUAL FUND: Shareholders Receive Wind-Up Report
NISSAY FUND: Shareholders Receive Wind-Up Report
NOUS 1: Shareholders Receive Wind-Up Report
OAKWOOD PARTNERS: Shareholders Receive Wind-Up Report

OFFSHORE ENERGY: Shareholders Receive Wind-Up Report
SECTOR COGNIMETRICA: Shareholders Receive Wind-Up Report
SHACKLETON RE: Commences Wind-Up Proceedings
SPI INVESTMENTS: Commences Wind-Up Proceedings
STATS T1: Shareholders Receive Wind-Up Report

TARGA FUND: Shareholders Receive Wind-Up Report
THAMES RIVER: Commences Liquidation Proceedings
THAMES RIVER: Commences Liquidation Proceedings
TRIAN SPV: Commences Wind-Up Proceedings
TRIAN SPV: Commences Wind-Up Proceedings

VESTRY CAPITAL: Shareholders Receive Wind-Up Report


C O L O M B I A

CHIQUITA BRAND: Faces New Claims Over Colombia Terrorism


D O M I N I C A N  R E P U B L I C

* DOMINICAN REUBLIC: Exports to Europe Climb to EUR595.8 Million


J A M A I C A

CIBONEY GROUP: Reports JM$2.9MM Loss for 9 Mos. Ended Feb. 2009
* JAMAICA: Tourism Workers to Get Pension Scheme


P E R U

* PERU: Spanish Fund Provides US$72MM Grant for IDB-Backed Project





                         - - - - -


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


* ARGENTINA: Meat Workers March to Protest Job Cuts
---------------------------------------------------
Rodrigo Orihuela at Bloomberg News reports that Argentine meat
workers marched to the labor ministry, disrupting traffic in
downtown Buenos Aires, to protest expected job cuts amid fears
that falling beef production will lead to plant closures.

"Some 10,000 workers risk losing their jobs," Alberto Fantini,
secretary general of the Meat Industry Workers Union, who led the
protest in the Argentine capital, told the news agency in an
interview.

"Lots of plants are not working and while the government assures
we get paid for the equivalent to 140 hours work a month, we want
jobs not subsidies," he added.

According to the report, citing the Agriculture Ministry,
Argentines may cut consumption by 8 kilos in 2010 because of
declining supplies and rising prices.  The report relates a median
estimate in a monthly survey by Torcuato Di Tella University
revealed that Argentines see prices overall rising 30% over the
next year.

Argentina, Bloomberg News notes, is expected to have 4 million
fewer cattle head this year after a drought and above-average
slaughtering rates in 2008 and 2009 reduced herd sizes.  Farm
groups such as the Argentine Rural Society have said slaughter
rates increased because the government regulated prices and
exports eroded profit margins for cattle breeders, the report
says.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 9, 2009, Standard & Poor's Ratings Services said that it
lowered to 'B-' from 'B' its local currency long-term issuer
credit rating on the City of Buenos Aires.  At the same time,
Standard & Poor's affirmed its 'B-' foreign currency long-term
issuer credit rating.  The outlook on the local and foreign
currency long-term issuer credit ratings is stable.


* ARGENTINA: New ATFA Ad Sets the Facts Straight on Debt Repayment
------------------------------------------------------------------
American Task Force Argentina, a coalition seeking a fair
resolution of the Argentine 2001 sovereign debt default and 2005
debt restructuring, issued a full-page print advertisement in the
Wall Street Journal contrasting the facts about Argentina's debt
repayment with the recent claims by the Argentine government. As
Argentine President Cristina Kirchner leaves Washington, D.C.
following the Nuclear Security Summit, the group called on her to
"Tell the truth.  Honor your debts."

In addition to the advertisement, ATFA welcomed President Kirchner
to Washington, D.C., by distributing postcards: outside places
where President Kirchner was scheduled to appear, including the
U.S. Chamber of Commerce, the Smithsonian Institution, the
Hirshhorn Museum and Sculpture Garden and the National Museum of
the American Indian.

The postcards presented President Kirchner with a "collection
notice," calling attention to the $3.8 billion that Argentina owes
its U.S. creditors, and the associated costs to U.S. investors and
taxpayers.  The postcards allowed individuals to send the message
to their Members of Congress that Argentine debt repayment should
be a priority.

"Argentina must negotiate in good faith with all of her creditors
and resolve the scores of lawsuits against the country, before she
can return to international capital markets," ATFA co-chair Robert
Shapiro said.  "These bonds have been in default for far too long,
and it is time for Argentina to offer its lenders a reasonable
proposal for a debt swap.  ATFA hopes that Argentina will finally
follow this course and provide its bondholders with a fair offer."

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 9, 2009, Standard & Poor's Ratings Services said that it
lowered to 'B-' from 'B' its local currency long-term issuer
credit rating on the City of Buenos Aires.  At the same time,
Standard & Poor's affirmed its 'B-' foreign currency long-term
issuer credit rating.  The outlook on the local and foreign
currency long-term issuer credit ratings is stable.


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


ALLOY AIRCRAFT: Court Enters Wind-Up Order
------------------------------------------
On March 25, 2010, the Supreme Court of Bermuda entered an order
that voluntarily winds up the operations of Alloy Aircraft Company
Limited.


DIVISION SEVEN: Members and Creditors to Meet on May 11
-------------------------------------------------------
The creditors and members of Division Seven Insurance Ltd. will
hold their meeting on May 11, 2010, at 10:00 a.m. and 10:30 a.m.
respectively, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

Mark W.R. Smith is the company's liquidator.


H & R SERVICES: Creditors' Proofs of Debt Due on April 14
---------------------------------------------------------
The creditors of H & R Services Limited are required to file their
proofs of debt by April 14, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on March 24, 2010.

The company's liquidator is:

         Michelle L. Wolfe
         2 Harbour Road
         No. 7, Paget, PG 01
         Bermuda


H & R SERVICES: Members to Receive Wind-Up Report on May 5
----------------------------------------------------------
The members of H & R Services Limited will receive, on May 5,
2010, at 9:30 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company commenced wind-up proceedings on March 24, 2010.

The company's liquidator is:

         Michelle L. Wolfe
         2 Harbour Road
         No. 7, Paget, PG 01
         Bermuda


MANHATTAN INVESTMENT: Creditors' Proofs of Debt Due on April 30
---------------------------------------------------------------
The creditors of Manhattan Investment Fund Ltd. are required to
file their proofs of debt by April 30, 2010, to be included in the
company's dividend distribution.

Malcolm L. Butterfield and Anthony McMahon are the company's joint
liquidators.


XL CAPITAL: May be an Acquisition Target
----------------------------------------
XL Capital Limited may be an acquisition target as weak prices in
the business fuel more mergers and takeovers, The Royal Gazette
reports, citing Marketwatch.com.  The report relates Marketwatch
reported that analysts and investors singled out Munich Re as a
possible acquirer of XL as it looks to expand more in the US and
put excess capital to work.

"Munich Re has done well and has lots of money to make
acquisitions, but the reinsurance market is soft and the company
isn't growing, so their strategy may be to grow by acquisition,"
the report quoted Andy Barile, an independent insurance industry
consultant, as saying.  "The operating subsidiaries of XL Capital
would fit in very nicely with Munich Re," he added.

According to the report, reinsurers have spare capital as premiums
have softened, creating what's known as a soft market and
pressuring companies to consolidate.

XL Capital, the report says, is recovering from the opposite
problem, as huge losses from the financial crisis increased
investor concern that the reinsurer did not have enough capital to
take on lots of new risks and pay claims.

                         About XL Capital

Headquartered in Hamilton, Bermuda, XL Capital Ltd provides
insurance and reinsurance coverages through its operating
subsidiaries to industrial, commercial and professional
service firms, insurance companies and other enterprises on a
worldwide basis.  As of December 31, 2008, XL Capital Ltd reported
total invested assets of US$34.3 billion and shareholders' equity
of US$6.6 billion.

                           *     *     *

As reported by the Troubled Company Reporter-Latin America on
April 15, 2010, Moody's Investors Service affirmed XL Capital
Ltd's "Ba1" preferred stock rating.


XL CAPITAL: XL Insurance Reveals Program for Small A/E Firms
------------------------------------------------------------
XL Insurance, the global insurance operations of XL Capital Ltd,
unveiled XLsmartADVANTAGE, a specialized professional liability
insurance program specifically designed for small architectural
and engineering firms.

"The BM$11 billion Design Professional industry is largely driven
by small firms nationwide with approximately 87% of all A/E firms
generating BM$1 million or less in annual revenue," according to
Alex Blanco, Chief Underwriting Officer of XL Insurance's Design
Professional group.  "For these firms, XLsmartADVANTAGE offers
quick and easy access to more than 30 years of professional
liability underwriting expertise as well as the claims management
services and loss prevention programs that have already helped
protect profitability and drive growth for many of the nation's
largest design firms."

Guy LeVan, XL Insurance's Vice President, said: "Small firms are
looking to capitalize on new opportunities as they emerge in our
recovering economy.  To do so, they need to be well prepared with
strong professional liability protection.  Strong protection means
much more than a competitively priced insurance policy.  That's
why with limited time and resources, small firms gain so much from
the claims support and loss prevention education programs that the
XLsmartADVANTAGE program offers."

The XLsmartADVANTAGE professional liability program offers one or
two year policy terms with limits up to BM$1 million.  The program
also includes:

   -- Dollar One Defense;

   -- Full prior acts coverage beginning the third consecutive
year of coverage;

   -- One time aggregate deductible at no additional cost;

   -- Up to a 10% premium credit with loss prevention education
program completion

   -- Ongoing education opportunities including receipt of
Communique, a risk management e-newsletter and online access to
loss prevention education programs such as Contract Basics for
Design Professionals for continuing education credits.

XLsmartADVANTAGE also offers online access to The XL Insurance
Contract Guide for Design Professionals: A Risk Management
Handbook for Architects and Engineers, a resource book which
covers more than 100 topics of issue-driven discussions, claims
scenarios, problem-solving strategies and contract language
solutions and offers considerable management guidance on topics
ranging from financial management to hiring and training project
managers.

Architectural and engineering firms can access XLsmartADVANTAGE by
contacting a local agent or through an online form to receive a
no-obligation quote.

                       About XL Insurance

XL Insurance's Design Professional group offers comprehensive
professional liability risk management programs including
insurance, claims management services, and loss prevention
education programs specifically designed for architects and
engineers.  Coverage is provided by XL Specialty Insurance
Company.

                         About XL Capital

Headquartered in Hamilton, Bermuda, XL Capital Ltd --
http://www.xlcapital.com/-- provides insurance and reinsurance
coverages through its operating subsidiaries to industrial,
commercial and professional service firms, insurance companies and
other enterprises on a worldwide basis.

                           *     *     *

As reported by the Troubled Company Reporter-Latin America on
April 15, 2010, Moody's Investors Service affirmed XL Capital
Ltd's "Ba1" preferred stock rating.


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


BANCO SOFISA: Moody's Affirms 'D+' Bank Financial Strength Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed the D+ bank financial strength
rating of Banco Sofisa S.A., as well as its long- and short-term
deposit ratings of Ba1 and Not Prime, and the Brazilian national
scale deposit ratings of Aa2.br and BR-1, long- and short-term,
respectively.  Sofisa's long-term foreign currency senior debt
rating of Ba1 was also affirmed.  Moody's also changed to negative
from stable the outlook on all these ratings.

In affirming Sofisa's ratings, Moody's acknowledged that the bank'
specialized franchise in middle-market lending, its overall
adequate credit and risk management, and well defined corporate
governance practices all continue to support the bank's D+ BFSR.

The negative outlook on the ratings, however, reflects the
anticipated changes in Sofisa's revenue mix as a result of the
sale of its consumer finance arm, Sofcred.  The prospect of lesser
revenues diversification, coupled with the challenges of replacing
such earnings with revenues from middle-market lending, add
negative pressure to the ratings, particularly in light of
increasingly competitive lending dynamics.  Moreover, the
strategic repositioning of the bank's activities implies a
transition period that is likely to bring volatility to earnings.

Moody's recognizes that the sale of Sofcred offers the opportunity
for management to focus on a market where it has proven
experience.  In fact, during 2009, Sofisa's consumer finance
portfolio contributed to above-normal asset quality deterioration
and increase in credit costs, which, ultimately, caused
profitability to decline by hefty 88%.  Moody's note that the
bank's robust capital levels and loan reserves would adequately
cushion potential losses to its operation, as observed in the
rating agency's scenario analysis.

Moody's last rating action on Sofisa was taken on September 22nd,
2009, when Moody's Investors Service upgraded the bank's long-term
foreign-currency deposit rating to Ba1 from Ba2, with a stable
outlook.  The rating action followed the conclusion of the review
for possible upgrade of Brazil's country ceilings for foreign
currency bonds and deposits that had been announced on July 6,
2009.

Banco Sofisa S.A. is headquartered in Sao Paulo, Brazil.  As of
December 2009, the bank had total assets of approximately
BRL4.7 billion (US$2.6 billion) and equity of BRL763 million
(US$429 million).

These ratings of Banco Sofisa were affirmed:

  -- Bank financial strength rating: D+, outlook changed to
     negative from stable

  -- Long-term global local-currency deposit rating: Ba1, outlook
     changed to negative from stable

  -- Short-term global local-currency deposit rating: Not Prime

  -- Long-term foreign-currency deposit rating: Ba1, outlook
     changed to negative from stable

  -- Short-term foreign-currency deposit rating: Not Prime

  -- Long-term foreign-currency debt rating: Ba1, outlook changed
     to negative from stable

  -- Long-term Brazilian national scale deposit ratings: Aa2.br,
     outlook changed to negative from stable

  -- Short-term Brazilian national scale deposit ratings: BR-1


COMPANHIA SIDERURGICA: Will Raise Brazil Steel Prices by 7.5%
-------------------------------------------------------------
Companhia Siderurgica Nacional S.A. will raise domestic prices by
as much as 7.5% in the second quarter to counter a recent doubling
of the cost of iron ore on international markets, Alberto Alerigi
Jr. at Reuters reports, citing Chief Executive Benjamin
Steinbruch.

According to the report, Mr. Steinbruch said that CSN will adopt a
quarterly pricing system to mimic pricing movements in global ore
markets, Steinbruch told reporters at an industry event.  "We are
too far away from recouping some of the discounts that we all
awarded last year.  What we are doing now is basically catching up
with the iron ore companies," he added.

Reuters notes that the company's action comes as Vale SA and
rivals including BHP Billiton will price the metal quarterly from
April 1.  The report relates that a new round of price increases
by rival steel companies is likely as supply of the metal remains
tight and the cost of coal rises globally.

Analysts, the report adds, have said steel companies are more
likely to charge higher prices for distributors first.

                             About CSN

Headquartered Sao Paolo, Brazil, Companhia Siderurgica Nacional
S.A. (NYSE: SID) -- http://www.csn.com.br/-- produces, sells,
exports and distributes steel products, like hot-dip galvanized
sheets, tin mill products and tinplate.  The company also runs its
own iron ore, manganese, limestone and dolomite mines and has
strategic investments in railroad companies and power supply
projects.  The group also operates in Brazil, Portugal, and the
U.S.

                           *     *     *

As of January 12, 2010, the company continues to carry Moody's
Currency LT Debt ratings at Ba1.  The company also continues to
carry Standard and Poor's Issuer credit ratings at BB+.


TRANSAX INT'L: Delays Filing of 2009 Annual Report on Form 10-K
---------------------------------------------------------------
Transax International Limited has delayed the filing of its annual
report on Form 10-K for the year ended December 31, 2009.  Transax
said it has not timely received financial information from its
operating subsidiary pertaining to business operations in Brazil.
Therefore, management of the Company cannot fully complete the
Company's consolidated financial statements.  Management deems it
necessary that additional time be provided to ensure that
complete, thorough and accurate disclosure of all material
information is made in its Annual Report on Form 10-K.  Management
anticipates the filing of its Annual Report on Form 10-K within
the extension period.

                           Going Concern

Since inception, the Company has incurred cumulative net losses of
US$16,350,071, and has a stockholders' deficit of US$6,298,104 and
a working capital deficit of US$6,837,573 at September 30, 2009.
Since inception, the Company has funded operations through short-
term borrowings and the proceeds from equity sales to meet its
strategic objectives.  The Company's future operations are
dependent upon external funding and its ability to increase
revenues and reduce expenses.

Management believes that sufficient funding will be available from
additional related party borrowings and private placements to meet
its business objectives, including anticipated cash needs for
working capital, for a reasonable period of time.  However, there
can be no assurance that the Company will be able to obtain
sufficient funds to continue the development of its software
products and distribution networks. Further, since fiscal 2000,
the Company has been deficient in the payment of Brazilian payroll
taxes and Social Security taxes.  At September 30, 2009, and
December 31, 2008, the deficiencies (including interest and
penalties) amounted to US$2,588,000 and US$1,180,000,
respectively.

This payroll liability is included as part of the accounts payable
and accrued expenses (short-term and long-term) within the
consolidated balance sheets.

On March 26, 2008, the Company executed a stock purchase and
option agreement with Engetech, Inc., a Turks & Caicos corporation
controlled and owned 20% by Americo de Castro, director and
President of Medlink Conectividade, and 80% by Flavio Gonzalez
Duarte or assignees.  In accordance with the terms and provisions
of the Agreement, the Company sold to the Buyer 45% of the total
issued and outstanding stock of its wholly owned subsidiary,
Transax Limited, which owns 100% of the total issued and
outstanding shares of (i) Medlink Conectividade, and (ii) Medlink
Technologies, Inc., a Mauritius corporation.  The Buyer had an
option to acquire the remaining 55%.  However, the Buyer has
defaulted on payments and the Company is renegotiating with the
Buyer and its assignee to restructure the contract.  At
September 30, 2009, the Company cannot determine the outcome of
these negotiations.  If the negotiations are successful, the
Company may sell the remaining 55% of its operating subsidiary, at
which point the Company will have no continuing operations.  As a
result, there exists substantial doubt about the Company's ability
to continue as a going concern.

                   About Transax International

Transax International Limited, primarily through its 55% owned
subsidiary, Medlink Conectividade em Saude Ltda, is an
international provider of information network solutions
specifically designed for healthcare providers and health
insurance companies.  The Company's MedLink Solution enables the
real time automation of routine patient eligibility, verification,
authorizations, claims processing and payment functions.  The
Company has offices located in Plantation, Florida, and Rio de
Janeiro, Brazil.

At September 30, 2009, the Company had $1,675,224 in total assets
against $7,973,328 in total liabilities, resulting in a $6,298,104
stockholders' deficit.


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


AL-FURSA RUSSIA: Commences Wind-Up Proceedings
----------------------------------------------
Al-Fursa Russia & Cis Islamic Fund SPC commenced wind-up
proceedings on February 15, 2010.

Only creditors who were able to file their proofs of debt by
March 5, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         c/o Mourant du Feu & Jeune
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647;

or

         Mourant Cayman Liquidators, Ltd.
         c/o PG
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647
         Harbour Centre, 42 North Church Street
         P.O. Box 1348, George Town
         Grand Cayman KY1-1108, Cayman Islands


ANDISA CAPITAL: Commences Liquidation Proceedings
-------------------------------------------------
Andisa Capital Management commenced liquidation proceedings on
January 18, 2010.

The company's liquidator is:

         Richard Negele
         c/o Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


BELMONT ASSET: Commences Wind-Up Proceedings
--------------------------------------------
Belmont Asset Based Lending Ltd. commenced wind-up proceedings on
January 19, 2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Stuart Sybersma
         c/o Mervin Solas
         Deloitte & Touche, P.O. Box 1787
         Grand Cayman KY1-1109, Cayman Islands
         Telephone: (345) 949 7500
         Facsimile: (345) 949 8258
         e-mail: msolas@deloitte.com


BLACKHAWK REINSURANCE: Commences Wind-Up Proceedings
----------------------------------------------------
Blackhawk Reinsurance SPC commenced wind-up proceedings on
January 15, 2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         Damien Austin
         Audrey Dixon
         P.O. Box 1109
         HSBC House, 68 West Bay Road
         Grand Cayman, Cayman Islands
         Telephone: 949-7580
         Facsimile: 949-6021
         P.O. Box 1109
         HSBC House, 68 West Bay Road
         Grand Cayman, Cayman Islands
         Telephone: 949-7755
         Facsimile: 949-6021


CENTENNIAL ABSOLUTE: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Centennial Absolute Return Master Fund Ltd.
received, on March 3, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street, George Town
         P.O. Box 1348, Grand Cayman KY1-1108
         Cayman Islands


CENTENNIAL OPPORTUNITIES: Shareholders Receive Wind-Up Report
-------------------------------------------------------------
The shareholders of Centennial Opportunities Master Fund Ltd.
received, on March 3, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street, George Town
         P.O. Box 1348, Grand Cayman KY1-1108
         Cayman Islands


GENUS 15: Shareholders Receive Wind-Up Report
---------------------------------------------
The shareholders of Genus 15 Master Fund Limited received, on
March 8, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


HERITAGE HEDGED: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Heritage Hedged Equity Master Fund, Ltd.
received, on March 3, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street, George Town
         P.O. Box 1348, Grand Cayman KY1-1108
         Cayman Islands


HSBC GEM: Commences Wind-Up Proceedings
---------------------------------------
HSBC Gem Opportunities, Ltd. commenced wind-up proceedings on
January 25, 2010.

Only creditors who were able to file their proofs of debt by
March 12, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         E. Andrew Hersant
         Christopher Humphries
         Stuarts Walker Hersant
         Telephone: (345) 949 3344
         Facsimile: (345) 949 2888
         P.O. Box 2510, Grand Cayman KY1-1104
         Cayman Islands


HSBC GEM: Commences Wind-Up Proceedings
---------------------------------------
HSBC Gem Common Fund commenced wind-up proceedings on January 25,
2010.

Only creditors who were able to file their proofs of debt by
March 12, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         E. Andrew Hersant
         Christopher Humphries
         Stuarts Walker Hersant
         Telephone: (345) 949 3344
         Facsimile: (345) 949 2888
         P.O. Box 2510, Grand Cayman KY1-1104
         Cayman Islands


IAM BRIC: Commences Liquidation Proceedings
-------------------------------------------
IAM Bric Fund Ltd. commenced liquidation proceedings on
January 21, 2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         Mourant Cayman Liquidators, Ltd.
         c/o Mourant du Feu & Jeune
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647;

or

         Mourant Cayman Liquidators, Ltd.
         c/o PG
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647
         Harbour Centre, 42 North Church Street
         P.O. Box 1348, George Town
         Grand Cayman KY1-1108, Cayman Islands


LEHMAN BROTHERS: Wins Nod to Pay Fees of Cayman-Based SPVs
----------------------------------------------------------
Lehman Brothers Special Financing Inc. obtained the U.S.
Bankruptcy Court's approval to pay the fees and expenses of
Cayman-based special purpose vehicles to avoid their possible
dissolution.

The SPVs are at risk of being dissolved by the Registrar of
Companies in the Cayman Islands because of their failure to pay
off their annual fees as well as other charges, according to
LBSF's attorney, Jacqueline Marcus, Esq., at Weil Gotshal &
Manges LLP, in New York.  About $690,162 in fees is due to the
Registrar, Ms. Marcus says.

Lehman Brothers Inc., the broker-dealer unit of Lehman Brothers
Holdings Inc., is actually the one obligated to pay the fees and
expenses pursuant to its agreements with each of the SPVs.  LBI,
however, has not paid those fees since 2008.

"If the Cayman SPVs are dissolved, LBSF's ability to realize a
return on the transactions will be put in serious jeopardy," says
Ms. Marcus, referring to the numerous swap transactions LBSF
reached with the SPVs in which about $900 million is at stake.

"The outstanding fees of the Cayman SPVs must be paid to ensure
that the Cayman SPVs are returned to good standing," Ms. Marcus
says in court papers.

                       About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was the
fourth largest investment bank in the United States.  For more
than 150 years, Lehman Brothers has been a leader in the global
financial markets by serving the financial needs of corporations,
governmental units, institutional clients and individuals
worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy September 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy petition
listed US$639 billion in assets and US$613 billion in debts,
effectively making the firm's bankruptcy filing the largest in
U.S. history.  Several other affiliates followed thereafter.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at Weil,
Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

On September 19, 2008, the Honorable Gerard E. Lynch, Judge of the
U.S. District Court for the Southern District of New York, entered
an order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI

The Bankruptcy Court has approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for
US$1.75 billion.  Nomura Holdings Inc., the largest brokerage
house in Japan, purchased LBHI's operations in Europe for US$2
plus the retention of most of employees.  Nomura also
bought Lehman's operations in the Asia Pacific for US$225 million.

               International Operations Collapse

Lehman Brothers International (Europe), the principal UK trading
company in the Lehman group, was placed into administration,
together with Lehman Brothers Ltd, LB Holdings PLC and LB UK RE
Holdings Ltd.  Tony Lomas, Steven Pearson, Dan Schwarzmann and
Mike Jervis, partners at PricewaterhouseCoopers LLP, have been
appointed as joint administrators to Lehman Brothers International
(Europe) on September 15, 2008.  The joint administrators have
been appointed to wind down the business.

Lehman Brothers Japan Inc. and Lehman Brothers Holdings Japan Inc.
filed for bankruptcy in the Tokyo District Court on September 16.
Lehman Brothers Japan Inc. reported about JPY3.4 trillion
(US$33 billion) in liabilities in its petition.

Bankruptcy Creditors' Service, Inc., publishes Lehman Brothers
Bankruptcy News.  The newsletter tracks the Chapter 11 proceeding
undertaken by Lehman Brothers Holdings, Inc., and other insolvency
and bankruptcy proceedings undertaken by its affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


LEHMAN BROTHERS: Commences Wind-Up Proceedings
----------------------------------------------
Lehman Brothers Global Bond Fund, (Offshore) Ltd commenced wind-up
proceedings on November 27, 2009.

Only creditors who were able to file their proofs of debt by
March 8, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         Phil Hughes
         Telephone: (345) 815 1402
         Facsimile: (345) 949-1986
         c/o Ogier Fiduciary Services (Cayman) Limited
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


MORUMBI CAPITAL: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Morumbi Capital Fund received, on March 4,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


MUTUAL FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Mutual Fund Basket Reference Fund (1-Q)
Limited received, on March 10, 2010, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Graham Robinson
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P. O. Box 897, One Capital Place
         George Town, Grand Cayman KY1-1103


MUTUAL FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Mutual Fund Basket Reference Fund (6-C)
Limited received, on March 10, 2010, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Graham Robinson
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P. O. Box 897, One Capital Place
         George Town, Grand Cayman KY1-1103


MUTUAL FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Mutual Fund Basket Reference Fund (8-D) Global
Focus Limited received, on March 10, 2010, the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Graham Robinson
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P. O. Box 897, One Capital Place
         George Town, Grand Cayman KY1-1103


NISSAY FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Nissay Fund (Cayman) Inc. received, on
March 3, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


NOUS 1: Shareholders Receive Wind-Up Report
-------------------------------------------
The shareholders of Nous 1, Ltd. received, on March 1, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Darren Riley
         c/o Ellen J. Christian
         Telephone: 345 945-9208
         Facsimile: 345 945-9210
         BNP Paribas Bank & Trust Cayman Limited
         3rd Floor Royal Bank House, Shedden Road
         George Town, Grand Cayman


OAKWOOD PARTNERS: Shareholders Receive Wind-Up Report
-----------------------------------------------------
The shareholders of Oakwood Partners Master Fund Ltd. received, on
March 3, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street, George Town
         P.O. Box 1348, Grand Cayman KY1-1108
         Cayman Islands


OFFSHORE ENERGY: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Offshore Energy Invest I received, on March 3,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


SECTOR COGNIMETRICA: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Sector Cognimetrica Ltd. received, on March 3,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


SHACKLETON RE: Commences Wind-Up Proceedings
--------------------------------------------
Shackleton Re Limited commenced wind-up proceedings on January 15,
2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         Damien Austin
         Audrey Dixon
         P.O. Box 1109
         HSBC House, 68 West Bay Road
         Grand Cayman, Cayman Islands
         Telephone: 949-7580
         Facsimile: 949-6021
         P.O. Box 1109
         HSBC House, 68 West Bay Road
         Grand Cayman, Cayman Islands
         Telephone: 949-7755
         Facsimile: 949-6021


SPI INVESTMENTS: Commences Wind-Up Proceedings
----------------------------------------------
SPI Investments Ltd. commenced wind-up proceedings.

Only creditors who were able to file their proofs of debt by
March 12, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         Philip Walter
         Bernard McGrath
         David Walker
         c/o PO Box 1043
         Grand Cayman KY1-1102, Cayman Islands
         Telephone: 949-0050
         Facsimile: 949-8062


STATS T1: Shareholders Receive Wind-Up Report
---------------------------------------------
The shareholders of Stats T1 Master Fund received, on March 1,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


TARGA FUND: Shareholders Receive Wind-Up Report
-----------------------------------------------
The shareholders of The Targa Fund of Funds SPC received, on
March 8, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102, Cayman Islands


THAMES RIVER: Commences Liquidation Proceedings
-----------------------------------------------
Thames River 1X Currency Alpha Fund Limited commenced liquidation
proceedings on January 25, 2010.

Only creditors who were able to file their proofs of debt by
March 18, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


THAMES RIVER: Commences Liquidation Proceedings
-----------------------------------------------
Thames River 2X Currency Alpha Fund Limited commenced liquidation
proceedings on January 25, 2010.

Only creditors who were able to file their proofs of debt by
March 18, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


TRIAN SPV: Commences Wind-Up Proceedings
----------------------------------------
Trian SPV II, Ltd. commenced wind-up proceedings on January 26,
2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


TRIAN SPV: Commences Wind-Up Proceedings
----------------------------------------
Trian SPV III, Ltd. commenced wind-up proceedings on January 26,
2010.

Only creditors who were able to file their proofs of debt by
March 15, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


VESTRY CAPITAL: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Vestry Capital Partners Offshore, Ltd.
received, on March 5, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002, Cayman Islands


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


CHIQUITA BRAND: Faces New Claims Over Colombia Terrorism
--------------------------------------------------------
William McQuillen at Bloomberg News reports that Chiquita Brands
International Inc., was sued by hundreds of families who claim
relatives were kidnapped and murdered after the company helped
Marxist rebels in Colombia.

According to the report, the complaint filed in federal court in
West Palm Beach, Florida, represents more than 240 people who were
victims of violence.  The report relates that the plaintiffs,
using a 1992 law allowing Americans to sue U.S. firms over
terrorism-related deaths abroad, claim that the company aided and
abetted in the murders and provided material support and resources
to terrorists.

The company, the report recalls, was fined US$25 million after
pleading guilty in March 2007 to engaging in transactions with a
terrorist group for paying Colombian paramilitary militias $1.7
million from 1997 to 2004.  The plaintiffs are seeking unspecified
damages, the report says.

"Chiquita has already admitted to engaging in criminal conduct
that violated federal law by making systematic financial payments
to a foreign terrorist organization," the report quoted Lee
Wolosky, a Boies Schiller & Flexner LLP attorney for the
plaintiffs, as saying.  "Yet it has refused to provide
compensation to the victims of terrorist atrocities made possible
by its regular, repeated and knowing financial support," he added.

Bloomberg News notes that at least seven other suits have been
filed since the guilty plea.  The company reached a settlement
with shareholders in January, the report relates.

The case is Angela Maria Henao Montes v. Chiquita Brands
International Inc., 10cv60573, U.S. District Court, Southern
District of Florida (West Palm Beach).

                       About Chiquita Brands

Chiquita Brands International, Inc. -- http://www.chiquita.com/--
is markets and distributes fresh and value-added food products --
from bananas and other fruits to nutritious blends of green
salads.  The company markets its products under the Chiquita(R)
and Fresh Express(R) premium brands and other related trademarks.
The company has annual revenues of nearly US$4 billion, and
employs roughly 23,000 people.

The company's principal subsidiaries are: Chiquita Brands, Inc.;
Chiquita Brands Company, North America; Chiquita Citrus Packers,
Inc. (80%); Chiquita Frupac Inc.; Solar Aquafarms, Inc.; Compania
Mundimar, S.A. (Costa Rica); Dunand et Compagnie des Bananas, S.A.
(France; 94%); United Brands Japan, Ltd. (95%); Chiquita Banana
Company B.V. (Netherlands).

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
Mar 22, 2010, Moody's Investors Service has upgraded the corporate
family rating of Chiquita Brands International, Inc., to B2 from
B3.   At the same time, Moody's upgraded the ratings on Chiquita's
senior unsecured notes to Caa1 from Caa2 and the ratings on the
senior secured credit facility of Chiquita Brands LLC, a wholly
owned operating subsidiary of Chiquita, to Ba2 from Ba3.  The
ratings outlook is stable.


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


* DOMINICAN REUBLIC: Exports to Europe Climb to EUR595.8 Million
----------------------------------------------------------------
The Dominican Republic's exports to Europe rose to EUR53.7 million
last year from 2008, Dominican Today reports.  The report notes
that the country's exports fell 23% last year as a result of the
global economic crisis.

According to the report, the increased in European exports
resulted from the tariff facilities within the Economic
Partnership Agreement, signed with the European Union.  The report
relates the Dominican Exporters Association (Adoexpo), the
country's exports fell around US$1.7 billion in 2009.

The report notes that exports to Europe in 2008 fell by EUR264.4
million, going from EUR806.5 million in 2007 to EUR542.1 million a
year later.  Last year, however, exports rose slightly, by EUR53.7
million, to total EUR595.8 million, the report says.


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


CIBONEY GROUP: Reports JM$2.9MM Loss for 9 Mos. Ended Feb. 2009
---------------------------------------------------------------
The Ciboney Group, which operates the Ciboney Hotel, suffered a
JM$2.9 million loss for the nine months ended February 28,
RadioJamaica reports.  The report relates that the result was a
reversal from the JM$4.7 million profit reported in the previous
financial year.  The report says that during the period the
company benefited significantly from foreign exchange gains which
resulted from the then sliding Jamaican dollar

According to a company's financial statement, as of February 2010,
the company's balance sheet shows current assets of JM$102.349
million and current liabilities of JM$127.249 million.  The
company posted a net current liabilities of JM$24.9 million.

A copy of the company's balance sheet is available free at:

     http://ResearchArchives.com/t/s?6016

                      About Ciboney Group

Ciboney Group Limited is a Jamaica-based primarily engaged in the
hospitality industry.  Through its subsidiaries the Company is
engaged in the business of acquiring, developing and letting
resort properties.  The Company's wholly owned subsidiaries
include Ciboney Hotels Limited, Leisure Operators Limited, and
Luxury Resorts Enterprises Limited and its wholly owned
subsidiary, Number Sixty Limited.  Ciboney Group Limited is a
subsidiary of Crown Eagle Life Insurance Company Limited and its
ultimate parent is Finsac Limited.


* JAMAICA: Tourism Workers to Get Pension Scheme
-------------------------------------------------
Workers in the tourism sector will soon have their own pension
schemes, RadioJamaica reports.

According to the report, Tourism Minister Ed Bartlett said that
his Ministry is in discussion regarding the development of a
pension scheme policy for tourism workers.  The report relates Mr.
Barlett said since last year, talks have been held on improving
financial security for the employees.

Mr. Bartlett, the report notes, disclosed that the Tourism
Ministry in partnership with the private sector will implement an
intensive campaign to promote participation of tourism employers
and employees in a range of pension and retirement schemes.
RadioJamaica says Mr. Bartlett explained that the plan is aimed at
ensuring that a larger number of employees, including the self-
employed, is given coverage under a retirement plan.

                        *     *     *

According to the TCRLA on January 18, 2010, Fitch Ratings
downgraded Jamaica's long-term local currency rating
to 'C' from 'CCC'.  In addition, Fitch has affirmed Jamaica's
long-term and short-term foreign currency ratings at 'CCC' and 'C'
respectively, and affirmed the Country Ceiling at 'B-'.  Jamaica's
sovereign ratings Outlook remains Negative.


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


* PERU: Spanish Fund Provides US$72MM Grant for IDB-Backed Project
------------------------------------------------------------------
Peru will increase the coverage of drinking water and basic
sanitation services for some 380 rural communities and small towns
in the regions of Apurimac, Ayacucho, Cusco, Huancavelica, and
Puno-the country's poorest-improving the lot of some 206,000
people who currently either lack or receive substandard services.

The project, which requires a US$90 million investment, will
receive an unprecedented grant from the Spanish Cooperation Fund
for Water and Sanitation in Latin America and the Caribbean.  The
Inter-American Development Bank, which provided technical
assistance for the project's preparation, will develop it together
with the Peruvian government and the Spanish cooperation over a
five-year period.  The government of Peru will provide an
additional US$18 to the project.

The program will finance mostly infrastructure and other works
needed to expand and improve drinking water and sanitation
networks in small towns of between 2,000 and 15,000 people and
rural localities of fewer than 2,000 inhabitants.

The project will promote a model that integrates water and
sanitation solutions with community development activities and
strengthening of service providers in order to ensure that
drinking water supply and wastewater disposal treatment services
are delivered in an efficient, sustainable fashion.  The program
will promote gender equity, a key feature that should help boost
the efficiency and sustainability of investments.

The funds will also help strengthen the sector's management
capacity in the areas of technical assistance, development of
technical standards, sector planning and research.

Additionally, the program will promote the strengthening of new
forms of partnering with local governments, for integrated,
sustainable management of water resources in the framework of
watersheds.

The program will focus on 20 districts, covering district
capitals, their peri-urban areas, and their neediest rural
communities. Area selection will be based on service access
criteria, poverty level, and the intervention of other government
social programs.  This methodology will increase the impact in
each region and provide economies of scale in the use and
allocation of resources, increasing efficiency gains.

The US$72 million grant is the fifth drinking water and sanitation
coverage expansion and improvement project by the IDB and the
Spanish Fund.  The Fund was launched in 2008 by initiative of
Spanish President Jos‚ Luis Rodriguez Zapatero.

The IDB and the government of Spain signed in July 2009 an
agreement to partner on water and sanitation projects in the
region to be co-financed by Spanish Fund grants.  This partnership
brings together the IDB's ample water and sanitation projects
portfolio and its network of sector specialists in its country
offices, and the vision and experience of Spanish cooperation.
This has paved the way for the quick and efficient implementation
of projects assigned top priority by the IDB's 26 borrowing
members in Latin America and the Caribbean.

"This historic Spanish Fund grant is a sign of solidarity from the
people of Spain," IDB's President Luis Alberto Moreno said.  "This
is the Fund's fifth grant in less than one year.  Once again, the
project being financed aims to improve the health and quality of
life of hundreds of thousands of people living in some of the
hemisphere's poorest communities."

Besides the project approved for Peru, the IDB and Spain are
expanding and improving drinking water and sanitation services
through projects either approved or already under way in countries
such as Haiti, Bolivia, and Guatemala.  Both institutions are also
preparing projects focusing on rural and peri-urban areas of
Brazil, Costa Rica, Ecuador, El Salvador, Honduras, Uruguay, Haiti
(Port-au-Prince) and Panama.

With this US$72 million grant, Spain's contributions to the sector
have reached US$252 million in less than one year.  Within the
framework of its partnership with the IDB, Spain will make
contributions totaling some US$450 million in grants for water and
sanitation projects, while the IDB will provide about US$300
million in grants and loans, besides financing a large part of the
projects' preparation and execution costs.  Nearly 4 million
people living in the region's low-income peri-urban and rural
communities are expected to benefit from these projects.

The government of Peru will provide an additional US$18 million to
the newly approved program, which will be initially executed by
the Vice Ministry of Construction and Sanitation through the
"Water for All" program.


                            ***********

Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual
trades.  Prices for actual trades are probably different.  Our
objective is to share information, not make markets in publicly
traded securities.  Nothing in the TCR-LA constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-LA editor holds
some position in the issuers' public debt and equity securities
about which we report.

Tuesday's edition of the TCR-LA features a list of companies
with insolvent balance sheets obtained by our editors based on
the latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

                            ***********


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, Marites O. Claro, Joy A. Agravente, Rousel Elaine C.
Tumanda, Valerie C. Udtuhan, Frauline S. Abangan, and Peter A.
Chapman, Editors.


Copyright 2010.  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.


           * * * End of Transmission * * *