/raid1/www/Hosts/bankrupt/TCRLA_Public/100629.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
Tuesday, June 29, 2010, Vol. 11, No. 126
Headlines
A R G E N T I N A
AGRO LAMB: Creditors' Proofs of Debt Due on November 22
ALL SOFTWARE: Creditors' Proofs of Debt Due on September 20
ASERRADERO SAN: Creditors' Proofs of Debt Due on September 3
CONTROL AND: Creditors' Proofs of Debt Due on August 3
CURATOLA Y ASOCIADOS: Creditors' Proofs of Debt Due on Sept. 10
ERGASON SA: Creditors' Proofs of Debt Due on August 23
NEYPAR SA: Creditors' Proofs of Debt Due on August 24
PHOTO DEPOT: Asks for Preventive Contest
B R A Z I L
COMPANHIA SIDERURGICA: Set to Gain From Renminbi's Appreciation
COMPANHIA SIDERURGICA: To Spin Off Businesses to Increase Assets
FIBRIA CELULOSE: Cut to "Underperform" at Itau
MARFRIG ALIMENTOS: Sees No More Acquisitions; To Expand Operations
MARFRIG ALIMENTOS: Aims to Rebuild Seara's Local Market Share
TAM SA: Expands Codeshare Agreement With SWISS
C A Y M A N I S L A N D S
AMP CDO: Creditors' Proofs of Debt Due on July 21
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
CAYCO I: Creditors' Proofs of Debt Due on July 23
CAYCO II: Creditors' Proofs of Debt Due on July 23
CURETON INVESTMENTS: Creditors' Proofs of Debt Due on July 21
DANA PETROLEUM: Creditors' Proofs of Debt Due on July 21
DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
GANDHARA CAPITAL: Creditors' Proofs of Debt Due on August 6
IBIS INTERNATIONAL: Creditors' Proofs of Debt Due on July 12
ING LEASE: Creditors' Proofs of Debt Due on July 21
ING LEASE: Creditors' Proofs of Debt Due on July 21
ING LEASE: Creditors' Proofs of Debt Due on July 21
JLOC THREE: Creditors' Proofs of Debt Due on July 21
MOCHA INTERNATIONAL: Creditors' Proofs of Debt Due on July 21
RANGER FAMILY: Creditors' Proofs of Debt Due on July 30
SEAFIELD RESOURCES: Creditors' Proofs of Debt Due on July 21
SCOUT CAPITAL: Creditors' Proofs of Debt Due on July 12
SWR INVESTMENTS: Creditors' Proofs of Debt Due on July 21
VECTORS RESEARCH: Creditors' Proofs of Debt Due on July 13
C O L O M B I A
ECOPETROL SA: President-Elect Won't Sell Gov't Stake
ISAGEN SA: President-Elect Won't Sell Gov't Stake
E C U A D O R
* ECUADOR: Would Get 25% of Oil Revenue Under Proposed Law
J A M A I C A
DIGICEL GROUP: Has Unfair Pricing Strategy, Says FTC
SUGAR COMPANY OF JAMAICA: Talks Underway With Factory Bidders
M E X I C O
BANCO INTERACCIONES: Moody's Assigns 'B1' Senior Debt Ratings
CORPORACION GEO: S&P Affirms 'BB-' Corporate Credit Rating
EMPRESAS ICA: Raised to "Outperform" at Scotia Capital
GRUPO KUO: S&P Affirms 'BB-' Global Corporate Credit Ratings
HIPOTECARIA SU: Moody's Downgrades Ratings on Certs. to 'Ba2'
V E N E Z U E L A
PETROLEOS DE VENEZUELA: Unit to Provide Technical Aid to JVs
X X X X X X X X
* Large Companies With Insolvent Balance Sheets
- - - - -
=================
A R G E N T I N A
=================
AGRO LAMB: Creditors' Proofs of Debt Due on November 22
-------------------------------------------------------
Alfredo Legnazzi, the court-appointed trustee for Agro Lamb SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until November 22, 2010.
Mr. Legnazzi will present the validated claims in court as
individual reports. The National Commercial Court of First
Instance No. 18 in Buenos Aires, with the assistance of Clerk
No. 36, 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 the company and its creditors.
The Trustee can be reached at:
Alfredo Legnazzi
Cerrito 1136
Argentina
ALL SOFTWARE: Creditors' Proofs of Debt Due on September 20
-----------------------------------------------------------
The court-appointed trustee for All Software S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
September 20, 2010.
The trustee will present the validated claims in court as
individual reports on November 2, 2010. 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
the company and its creditors.
Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.
A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 15, 2010.
ASERRADERO SAN: Creditors' Proofs of Debt Due on September 3
------------------------------------------------------------
The court-appointed trustee for Aserradero San Vicente S.A.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until September 3, 2010.
The trustee will present the validated claims in court as
individual reports on October 20, 2010. 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
the company and its creditors.
Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.
A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 27, 2010.
CONTROL AND: Creditors' Proofs of Debt Due on August 3
------------------------------------------------------
Carlos Erasmo Moreno, the court-appointed trustee for Control and
Security in the World SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until August 3, 2010.
Mr. Moreno will present the validated claims in court as
individual reports. The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 33, 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 the company and its creditors.
The Trustee can be reached at:
Carlos Erasmo Moreno
Tucuman 1506
Argentina
CURATOLA Y ASOCIADOS: Creditors' Proofs of Debt Due on Sept. 10
---------------------------------------------------------------
Ricardo Adrogue, the court-appointed trustee for Curatola y
Asociados SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until September 10, 2010.
Mr. Adrogue will present the validated claims in court as
individual reports. The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of Clerk
No. 7, 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 the company and its creditors.
The Trustee can be reached at:
Ricardo Adrogue
Bouchard 468
Argentina
ERGASON SA: Creditors' Proofs of Debt Due on August 23
------------------------------------------------------
The court-appointed trustee for Ergason S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
August 23, 2010.
The trustee will present the validated claims in court as
individual reports on October 4, 2010. 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
the company and its creditors.
Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.
A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
November 15, 2010.
NEYPAR SA: Creditors' Proofs of Debt Due on August 24
-----------------------------------------------------
Marta Irene Nicoletti, the court-appointed trustee for Neypar SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until August 24, 2010.
Mr. Nicoletti will present the validated claims in court as
individual reports. The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 37, 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 the company and its creditors.
PHOTO DEPOT: Asks for Preventive Contest
----------------------------------------
Photo Depot Argentina SRL asked for preventive contest.
The company stopped making payments last January 30, 2010.
===========
B R A Z I L
===========
COMPANHIA SIDERURGICA: Set to Gain From Renminbi's Appreciation
---------------------------------------------------------------
Barclays Capital Plc said that Companhia Siderurgica Nacional is
set to gain from an appreciation of China's renminbi, Dow Jones
Newswires reports. The report relates that Barclays analysts said
that an expected 5% revaluation of the renminbi against the U.S.
dollar over the next year, after China's announcement of a more
flexible exchange rate policy, will make Chinese steel and metals
producers less globally competitive.
According to the report, Barclays Capital said that China's
domestic iron ore production costs will grow in dollar terms,
which could boost spot market iron ore prices by 5% to around
US$60 per tonne in the long term, from a previous estimate of
US$55. The report relates that this could allow gains CSN share
values by as much as 6% in the long term.
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+.
COMPANHIA SIDERURGICA: To Spin Off Businesses to Increase Assets
----------------------------------------------------------------
Companhia Siderurgica Nacional S.A. will start to gradually spin
off parts of its business in a bid to increase assets, Steel Guru
News reports, citing Investor's Business Daily.
According to the report, it is believed that the company could
also sell stakes in its cement, steel making, energy and logistics
units. The report relates that if all goes well, the moves could
help CSN fetch a better value for its business, in turn fueling
possible acquisitions.
The report notes that Brazil is facing some inflation issues,
partly due to a run up in prices on iron ore and wholesale goods.
As a result, the report says, the country may cut the import duty
on steel. The report relates that this is partly a response to
CSN and other Brazilian steel makers raising prices by more than
10% a month due to higher iron ore costs.
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+.
FIBRIA CELULOSE: Cut to "Underperform" at Itau
----------------------------------------------
Eric Martin at Bloomberg News reports that Fibria Celulose SA was
cut to "underperform" at Itau Unibanco Holding SA on June 25,
2010.
According to the report, Itau Unibanco cited the outlook for pulp
prices and the stocks' valuations as the cause of the downgrade.
Fibria Celulose S.A. is the largest producer of market pulp in the
world, and also produces specialty paper, such as coated, thermal,
and carbonless paper. In 2009 Fibria reported consolidated net
revenues of BRL 6 billion (US$3 billion converted by the average
foreign exchange rate for the period).
* * *
As of June 28, 2010, the company continues to carry Moody's "Ba1"
issuer rating with stable outlook. The company also continues to
carry Standard and Poor's "BB" issuer credit ratings with positive
outlook.
MARFRIG ALIMENTOS: Sees No More Acquisitions; To Expand Operations
------------------------------------------------------------------
Marfrig Alimentos SA Chief Executive Officer Marcos Molina said
that the company isn't planning any more acquisitions after buying
Keystone Foods LLC and will focus on expanding its own operations,
Jessica Brice at Bloomberg News reports, citing O Estado de S.
Paulo newspaper.
As reported in the Troubled Company Reporter-Latin America on
June 16, 2010, Bloomberg News said that Marfrig Alimentos SA
agreed to pay US$1.26 billion for chicken nugget maker Keystone
Foods LLC. The report related that Marfrig Alimentos signed an
agreement with Lindsay Goldberg LCC to buy all the shares in
closely held West Conshohocken, Pennsylvania-based Keystone.
According to the report, Marfrig Alimentos said that buying
Keystone gives the company access to a supplier to international
food and restaurant companies such as McDonald's Corp. and
Campbell Soup Co. Marfrig has sought to expand production through
acquisitions in the past three years.
About Marfrig Alimentos
Brazil-based Marfrig Alimentos SA (formerly known as Marfrig
Frigoroficos e Comercio de Alimentos) processes beef, pork, lamb,
and poultry; and produces frozen vegetables, canned meats, fish,
ready meals, and pasta. The company operates in Southern America,
the united states, and Europe.
* * *
As of June 28, 2010, the company continues to carry Moody's "B1"
long term rating and LT corp family rating. The company also
continues to carry Fitch Rating's "B+" LT issuer default ratings.
MARFRIG ALIMENTOS: Aims to Rebuild Seara's Local Market Share
-------------------------------------------------------------
Marfrig Alimentos SA Chief Executive Officer Marcos Molina said
that the company aims to recover the 16% market share that Seara
products used to have in Brazil, Maria Luiza Rabello at Bloomberg
News reports, citing Folha de S.Paulo.
According to the report, Mr. Molina told the newspaper in an
interview that Seara Alimentos SA's market share had slipped to
about 4% by the time Marfrig Alimetos concluded its takeover of
the poultry and pork processor.
As reported in the Troubled Company Reporter-Latin America on
January 7, 2010, Dow Jones Newswires said that Marfrig Alimentos
has completed the acquisition of Seara Alimentos Ltd., a local
poultry, pork and consumer food company controlled by U.S. food
giant Cargill. According to the report, Marfrig said that the
total value of the acquisition was US$899 million, including
US$705.2 million in cash and US$193.8 million through the
assumption of Seara's debts. The report related that the company
financed the acquisition with a primary share offer on the
Brazilian Stock Exchange (BMFBovespa), at the end of 2009,
totaling BRL1.5 billion (US$872 million).
About Marfrig Alimentos
Brazil-based Marfrig Alimentos SA (formerly known as Marfrig
Frigoroficos e Comercio de Alimentos) processes beef, pork, lamb,
and poultry; and produces frozen vegetables, canned meats, fish,
ready meals, and pasta. The company operates in Southern America,
the united states, and Europe.
* * *
As of June 28, 2010, the company continues to carry Moody's "B1"
long term rating and LT corp family rating. The company also
continues to carry Fitch Rating's "B+" LT issuer default ratings.
TAM SA: Expands Codeshare Agreement With SWISS
----------------------------------------------
TAM SA and SWISS started on June 28, codeshare on two flights
operated by SWISS: Paris - Zurich and Zurich - Paris.
The companies' codeshare agreement started in May 2009, offering
more convenience and benefits to customers.
"Our partnership with SWISS now takes a new dimension. We hope
this agreement can further stimulate international passenger
traffic between Brazil and Switzerland", said TAM's Commercial and
Planning Vice President, Paulo Castello Branco. "Moreover, we
hold FFP (Frequent Flyer Program) agreement with SWISS, which
enables TAM Loyalty Program members to accrual and redeem points
on any flight operated by SWISS. Likewise, members of Miles &
More (program used by SWISS) can accrual and redeem miles on all
our domestic and international flights."
About TAM SA
Based in Sao Paulo, Brazil, TAM S.A. -- http://www.tam.com.br/--
has business agreements with the regional airlines Pantanal,
Passaredo, Total and Trip. As of Jan. 14, the daily flight on the
Corumba -- Campo Grande route in Mato Grosso do Sul began to be
operated by a partnership with Trip. With the expansion of the
agreement with NHT, TAM will now be serving 82 destinations in
Brazil, 45 of which with its own flights. In addition, the
company is strengthening its presence in Rio Grande do Sul and
Santa Catarina.
* * *
As of June 28, 2010, the company continues to carry Standard and
Poor's "B+" LT Issuer credit ratings. The company also continues
to carry Fitch rating's "BB-" LT Issuer default ratings.
==========================
C A Y M A N I S L A N D S
==========================
AMP CDO: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------
The creditors of AMP CDO 2006-1 are required to file their proofs
of debt by July 21, 2010, to be included in the company's dividend
distribution.
The company commenced wind-up proceedings on June 11, 2010.
The company's liquidator is:
Walkers SPV Limited
c/o Anthony Johnson
Telephone: (345) 914-6314
Walker House, 87 Mary Street, George Town
Grand Cayman KY1-9002, Cayman Islands
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------------
The creditors of The Asian Infrastructure Fund are required to
file their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on May 31, 2010.
The company's liquidator is:
Stuart Sybersma
c/o Jennifer Chailler
Deloitte & Touche
P.O. Box 1787, Grand Cayman KY1-1109
Cayman Islands
Telephone: (345) 949 7500
Facsimile: (345) 949 8258
e-mail: jchailler@deloitte.com
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------------
The creditors of Asian Infrastructure Fund Management Company
Limited LDC are required to file their proofs of debt by July 21,
2010, to be included in the company's dividend distribution.
The company commenced liquidation proceedings on May 31, 2010.
The company's liquidator is:
Stuart Sybersma
c/o Jennifer Chailler
Deloitte & Touche
P.O. Box 1787, Grand Cayman KY1-1109
Cayman Islands
Telephone: (345) 949 7500
Facsimile: (345) 949 8258
e-mail: jchailler@deloitte.com
CAYCO I: Creditors' Proofs of Debt Due on July 23
-------------------------------------------------
The creditors of CAYCO I are required to file their proofs of debt
by July 23, 2010, to be included in the company's dividend
distribution.
The company commenced liquidation proceedings on June 10, 2010.
The company's liquidator is:
Marc Randall
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
CAYCO II: Creditors' Proofs of Debt Due on July 23
--------------------------------------------------
The creditors of CAYCO II are required to file their proofs of
debt by July 23, 2010, to be included in the company's dividend
distribution.
The company commenced liquidation proceedings on June 10, 2010.
The company's liquidator is:
Marc Randall
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
CURETON INVESTMENTS: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------------
The creditors of Cureton Investments No. 2 Limited are required to
file their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on June 8, 2010.
The company's liquidator is:
Jess Shakespeare
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
DANA PETROLEUM: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------
The creditors of Dana Petroleum (WA) LLC are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on June 7, 2010.
The company's liquidator is:
Victor Murray
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------
The creditors of Diageo Funding Company No. 1 Limited are required
to file their proofs of debt by July 21, 2010, to be included in
the company's dividend distribution.
The company commenced liquidation proceedings on June 8, 2010.
The company's liquidator is:
Marc Randall
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
GANDHARA CAPITAL: Creditors' Proofs of Debt Due on August 6
-----------------------------------------------------------
The creditors of Gandhara Capital Management Limited are required
to file their proofs of debt by August 6, 2010, to be included in
the company's dividend distribution.
The company commenced liquidation proceedings on June 10, 2010.
The company's liquidator is:
Jeff Levy
c/o Marc Randall
Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
IBIS INTERNATIONAL: Creditors' Proofs of Debt Due on July 12
------------------------------------------------------------
The creditors of Ibis International, Ltd. are required to file
their proofs of debt by July 12, 2010, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on June 7, 2010.
The company's liquidator is:
Ogier
c/o Susan Taylor
Telephone: (345) 949-9876
Facsimile: (345) 949-9877
89 Nexus Way, Camana Bay
Grand Cayman KY1-9007, Cayman Islands
ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Epsilon are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on May 25, 2010.
The company's liquidator is:
Victor Murray
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Sigma are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on May 25, 2010.
The company's liquidator is:
Victor Murray
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Steven are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on May 25, 2010.
The company's liquidator is:
Victor Murray
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
JLOC THREE: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of JLOC Three Limited are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.
The company commenced wind-up proceedings on June 10, 2010.
The company's liquidator is:
Walkers SPV Limited
c/o Anthony Johnson
Telephone: (345) 914-6314
Walker House, 87 Mary Street, George Town
Grand Cayman KY1-9002, Cayman Islands
MOCHA INTERNATIONAL: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------------
The creditors of Mocha International Limited are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on June 8, 2010.
The company's liquidator is:
Jess Shakespeare
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
RANGER FAMILY: Creditors' Proofs of Debt Due on July 30
-------------------------------------------------------
The creditors of Ranger Family IDF, LLC are required to file their
proofs of debt by July 30, 2010, to be included in the company's
dividend distribution.
The company commenced wind-up proceedings on June 10, 2010.
The company's liquidator is:
Graham Robinson
Telephone: (345) 949-7576
Facsimile: (345) 949-8295
P.O. Box 897, Windward 1, Regatta Park
West Bay Road, Grand Cayman KY1-1103
Cayman Islands
SEAFIELD RESOURCES: Creditors' Proofs of Debt Due on July 21
------------------------------------------------------------
The creditors of Seafield Resources (Ghana) LLC are required to
file their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on June 7, 2010.
The company's liquidator is:
Victor Murray
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
SCOUT CAPITAL: Creditors' Proofs of Debt Due on July 12
-------------------------------------------------------
The creditors of Scout Capital Concentrated Fund, Ltd. are
required to file their proofs of debt by July 12, 2010, to be
included in the company's dividend distribution.
The company commenced wind-up proceedings on June 1, 2010.
The company's liquidator is:
Ogier
c/o Joel Reid
Telephone: (345) 815-1828
Facsimile: (345) 949-9877
89 Nexus Way, Camana Bay
Grand Cayman KY1-9007, Cayman Islands
SWR INVESTMENTS: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------------
The creditors of SWR Investments Limited are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on June 1, 2010.
The company's liquidator is:
Jess Shakespeare
c/o Maples Finance Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102, Cayman Islands
VECTORS RESEARCH: Creditors' Proofs of Debt Due on July 13
----------------------------------------------------------
The creditors of Vectors Research Opportunities Offshore Fund,
Ltd. are required to file their proofs of debt by July 13, 2010,
to be included in the company's dividend distribution.
The company commenced wind-up proceedings on June 8, 2010.
The company's liquidator is:
Ogier
c/o Jonathan McLean
Telephone: (345) 815-1805
Facsimile: (345) 949-9877
89 Nexus Way, Camana Bay
Grand Cayman KY1-9007, Cayman Islands
===============
C O L O M B I A
===============
ECOPETROL SA: President-Elect Won't Sell Gov't Stake
----------------------------------------------------
Future Finance Minister Juan Carlos Echeverry said that Colombian
President-elect Juan Manuel Santos won't sell government stakes in
Isagen SA or Ecopetrol SA to finance spending, Heather Walsh at
Bloomberg News reports, citing El Portafolio.
According to the report, the newspaper said that Mr. Echeverry
also doesn't plan to change regulations for the oil and mining
industries.
Mr. Santos, a former defense minister, won the election on
June 20, 2010, with 69% of the vote. He appointed Mr. Echeverry
on June 21.
As reported in the Troubled Company Reporter-Latin America on
May 18, 2010, Bloomberg News said that Colombia won't sell Isagen
SA while President Alvaro Uribe is in office, allowing the next
government to decide whether to sell its majority share in the
company after taking power in August. The report related that the
government was seeking at least COP3 trillion (US$1.5 billion) for
its 57% stake in Isagen. Colombia will have its presidential
election in May, and the new president will take power on
August 7. Dow Jones Newswires said that since the process to
approve new borrowing takes several weeks, the next administration
might have run into trouble if it had to tap the capital markets.
About Ecopetrol S.A.
Ecopetrol S.A. -- http://www.ecopetrol.com.co.-- is the largest
company in Colombia as measured by revenue, profit, assets and
shareholders' equity. The company is Colombia's only vertically
integrated crude oil and natural gas Company with operations in
Colombia and overseas. Ecopetrol is one of the 40 largest
petroleum companies in the world and one of the four principal
petroleum companies in Latin America. It is majority owned by the
Republic of Colombia and its shares trade on the Bolsa de Valores
de Colombia S.A. under the symbol ECOPETROL. Colombia owns 90% of
Ecopetrol. The company divides its operations into four business
segments that include exploration and production; transportation;
refining; and marketing of crude oil, natural gas and refined
products.
* * *
As of May 20, 2010, the company continues to carry Standard and
Poor's "BB+" LT Issuer Credit ratings. The company also continues
to carry Fitch Ratings' "BB+" LT FC Issuer Default ratings and
"BB+" Senior Unsecured Debt rating.
About Isagen SA
Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks. The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro. The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso. Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.
* * *
As of May 20, 2010, the company continues to carry Moody's "BB+"
LT Issuer Default ratings.
ISAGEN SA: President-Elect Won't Sell Gov't Stake
-------------------------------------------------
Future Finance Minister Juan Carlos Echeverry said that Colombian
President-elect Juan Manuel Santos won't sell government stakes in
Isagen SA or Ecopetrol SA to finance spending, Heather Walsh at
Bloomberg News reports, citing El Portafolio.
According to the report, the newspaper said that Mr. Echeverry
also doesn't plan to change regulations for the oil and mining
industries.
Mr. Santos, a former defense minister, won the election on
June 20, 2010, with 69% of the vote. He appointed Mr. Echeverry
on June 21.
As reported in the Troubled Company Reporter-Latin America on
May 18, 2010, Bloomberg News said that Colombia won't sell Isagen
SA while President Alvaro Uribe is in office, allowing the next
government to decide whether to sell its majority share in the
company after taking power in August. The report related that the
government was seeking at least COP3 trillion (US$1.5 billion) for
its 57% stake in Isagen. Colombia will have its presidential
election in May, and the new president will take power on
August 7. Dow Jones Newswires said that since the process to
approve new borrowing takes several weeks, the next administration
might have run into trouble if it had to tap the capital markets.
About Ecopetrol S.A.
Ecopetrol S.A. -- http://www.ecopetrol.com.co.-- is the largest
company in Colombia as measured by revenue, profit, assets and
shareholders' equity. The company is Colombia's only vertically
integrated crude oil and natural gas Company with operations in
Colombia and overseas. Ecopetrol is one of the 40 largest
petroleum companies in the world and one of the four principal
petroleum companies in Latin America. It is majority owned by the
Republic of Colombia and its shares trade on the Bolsa de Valores
de Colombia S.A. under the symbol ECOPETROL. Colombia owns 90% of
Ecopetrol. The company divides its operations into four business
segments that include exploration and production; transportation;
refining; and marketing of crude oil, natural gas and refined
products.
* * *
As of May 20, 2010, the company continues to carry Standard and
Poor's "BB+" LT Issuer Credit ratings. The company also continues
to carry Fitch Ratings' "BB+" LT FC Issuer Default ratings and
"BB+" Senior Unsecured Debt rating.
About Isagen SA
Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks. The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro. The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso. Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.
* * *
As of May 20, 2010, the company continues to carry Moody's "BB+"
LT Issuer Default ratings.
=============
E C U A D O R
=============
* ECUADOR: Would Get 25% of Oil Revenue Under Proposed Law
----------------------------------------------------------
Ecuador wants 25% of gross income from the country's key oil
sector to go to the state, Reuters reports, citing a law proposed
by the government aimed at increasing revenue from natural
resources.
According to the report, the bill is marked urgent, meaning it
must be acted on by the legislature within a month or it
automatically becomes law. The report relates that Ecuador has
been trying to renegotiate contracts with private oil companies
for two years in a bid to boost state control over the oil sector.
"The state will reserve 25% of gross income," the text of the
measure said, the report notes.
The report notes Ecuador President Rafael Correa has warned that
companies that do not sign contracts governed by the new law will
be paid for the investments they have made in the country and
their operations will be taken over.
Ecuador produces 470,000 barrels of oil per day, 44% of which is
pumped by private companies, the report adds.
* * *
As of June 28, 2010, the country continues to carry Moody's "Caa2"
CC LT foreign bank deposit ratings, and "Caa3" FC currency issuer
rating and foreign currency LT debt rating.
=============
J A M A I C A
=============
DIGICEL GROUP: Has Unfair Pricing Strategy, Says FTC
----------------------------------------------------
The Fair Trading Commission has issued a report that charges
Digicel Group of having an unfair pricing strategy, harmful to
competition and consumers, the Jamaica Observer reports.
According to the Observer, the FTC report follows investigations
into complaints by Cable & Wireless Jamaica that Digicel Group was
acting anti-competitively by charging LIME a wholesale rate for
calls from LIME landlines to Digicel Group mobiles that was as
much as 62% higher than the retail rate Digicel Group charges its
own landline customers to call the same phones. The report
relates that Cable & Wireless' LIME alleged that the "price
squeezing" by Digicel Group made it impossible for LIME to lower
its landline to mobile retail rates to compete fairly against
Digicel.
Digicel Group, the report notes, has not yet stated whether it
will act on the Fair Trading Commission's recommendations.
The FTC in its report said the most effective corrective action
would be to alter the regulatory environment in the industry "to
remove Digicel Group's undue influence over the price of its
rival's voice services", but because this may take considerable
time, also recommended Digicel take the initiative to change its
pricing, the report adds.
About Digicel Group
Digicel Group -- http://www.digicelgroup.com-- is renowned for
competitive rates, unbeatable coverage, superior customer care, a
wide variety of products and services and state-of-the-art
handsets. By offering innovative wireless services and community
support, Digicel has become a leading brand across its 31 markets
worldwide.
Digicel is incorporated in Bermuda and now has operations in 31
markets worldwide. Its Caribbean and Central American markets
comprise Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda,
Bonaire, the British Virgin Islands, the Cayman Islands, Curacao,
Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana,
Haiti, Honduras, Jamaica, Martinique, Panama, St Kitts & Nevis,
St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad &
Tobago and Turks & Caicos. The Caribbean company also has coverage
in St. Martin and St. Barths. Digicel Pacific comprises Fiji,
Papua New Guinea, Samoa, Tonga and Vanuatu.
* * *
As of January 14, 2010, the company continues to carry these low
ratings from Moody's:
-- LT Corp Family Rating at B2
-- Senior Undecured Debt Rating at Caa1
-- probability of Default at B2
SUGAR COMPANY OF JAMAICA: Talks Underway With Factory Bidders
-------------------------------------------------------------
Agriculture Minister Dr. Christopher Tufton said that negotiations
are progressing with the bidders for the remaining state-run sugar
factories owned by Sugar Company of Jamaica Holdings Limited,
RadioJamaica reports.
According to the report, a number of local and overseas firms have
expressed an interest in acquiring the three entities still on the
auction block. The report relates that last month was the
deadline for the presentation of expressions of interest to the
Development Bank of Jamaica.
Dr. Tufton, the report notes, said that the negotiating team is
now meeting with the interested stakeholders. "Discussions and
negations are taking place now towards trying to identify the best
options for the remaining government owned estates," the report
quoted Dr. Tufton as saying.
The factories still on the auction block are Monymusk, Bernard
Lodge and Frome, the report adds.
About SCJ
The Sugar Company of Jamaica Holdings Limited, a.k.a. SCJ, was
formed in November 1993 by a consortium made up of J. Wray &
Nephew Limited, Manufacturers Investments Limited and Booker Tate
Limited. The three companies each held 17% equity in SCJ, with
the remaining 49% being held by the government of Jamaica. In
1998, the government became the sole shareholder of SCJ by
acquiring the interests of the members of the consortium. Its
stated goal was to maximize efficiency, productivity and
profitability of the three sugar factories, within three years.
The principal activities of the company are the cultivation of
cane and the manufacture and sale of sugar and molasses.
* * *
As reported in the Troubled Company Reporter-Latin America on
June 22, 2009, the Jamaica Gleaner reported that Agriculture and
Fisheries Minister Christopher Tufton said that if a new deal is
not inked soon for the divestment of SCJ's factories, the public
will be called on again to plug a projected US$4.2 billion hole --
representing a US$2 billion operational loss, and bank penalties
-- apparently from continuous hefty overdrafts. The loss was
incurred by the SCJ's four factories during the 2008/2009 season.
The Gleaner related the enterprise has a US$21-billion debt and
losses totaling more than US$14 billion since 2005.
===========
M E X I C O
===========
BANCO INTERACCIONES: Moody's Assigns 'B1' Senior Debt Ratings
-------------------------------------------------------------
Moody's Investors Service assigned long and short term global
local currency senior debt ratings of Ba1/Not Prime to Banco
Interacciones, S.A.'s Senior Debt Program of up to Mx$10 billion.
On its Mexican National Scale, Moody's de Mexico assigned its
A1.mx long term and MX-2 short term senior debt ratings to the
program. The outlook on all these ratings is stable. Under this
program, Interacciones may issue certificados burs tiles
bancarios, certificados de depĒsito bancario de dinero and pagares
con rendimiento liquidable al vencimiento.
Moody's also assigned Ba1 global local currency and A1.mx Mexican
National Scale long term senior debt ratings to the first issuance
of certificados de depĒsito bancario de dinero for up to Mx$1
billion, issued under the Program. The notes rank pari passu with
the bank's other senior obligations.
The last rating action on Interacciones was on October 9, 2009,
when Moody's assigned first-time ratings to Interacciones Casa de
Bolsa, S.A. de C.V. Grupo Financiero Interacciones.
The long-term Mexican National Scale rating of A1.mx indicates
issuers or issues with the above average creditworthiness relative
to other domestic issuers. The short-term Mexican National Scale
ratings of MX-2 indicate that the issuer has the above average
ability to repay short-term senior unsecured debt obligations
relative to other domestic issuers.
Interacciones is headquartered in Mexico City. As of March 2010,
the bank had around Mx$74 billion in assets.
These senior debt ratings were assigned to Banco Interacciones,
S.A.'s Mx$10 billion Senior Debt Program:
-- Long and short term global local currency senior debt
ratings: Ba1/Not Prime, stable
-- Mexican National Scale senior debt ratings: A1.mx/MX-2,
stable
These long term senior debt ratings were assigned to Banco
Interacciones, S.A.'s first issuance of Mx$1 billion of
certificados de depĒsito bancario de dinero, issued under the
Program:
-- Global local currency senior debt rating: Ba1
-- Mexican National Scale senior debt rating: A1.mx
CORPORACION GEO: S&P Affirms 'BB-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'BB-' long-term corporate credit rating and its 'mxBBB+' national
scale rating on Corporacion Geo S.A.B. de C.V. with a negative
outlook. At the same time, S&P assigned its 'BB-' senior
unsecured long-term debt rating to Geo's proposed up to
$250 million fixed-rate notes, to which S&P has also assigned a
recovery rating of '4', indicating S&P's expectation of average
(30%-50%) recovery in the event of a payment default. Geo will
use proceeds of the issuance mainly to refinance short-term notes.
"S&P's ratings on Geo are limited by the company's aggressive
financial profile, as evidenced by its intense working capital
requirements needed to sustain its growth targets, which have
required increased external financing," said Standard & Poor's
credit analyst Laura Martinez. "Geo's position as one of the
leading homebuilders in Mexico, its geographic diversification and
scale, and its diverse product line are positive ratings factors."
The negative outlook reflects S&P's concerns regarding Geo's high
levels of short-term debt and significant expected working capital
needs for the rest of the year. "Once the completion of the
proposed bond issuance is reached and the company refinances its
short-term debt, S&P could change the outlook to stable. However,
S&P could lower the rating if its negative FOCF generation is
greater than S&P's expectations, leading to deterioration in its
liquidity, or if additional external financing is required," Ms.
Martinez added.
EMPRESAS ICA: Raised to "Outperform" at Scotia Capital
------------------------------------------------------
Empresas ICA SAB de CV was raised to "Outperform" from "Sector
Perform" at Scotia Capital by equity Duran Y Casahonda on June 23,
2010, Bloomberg News reports. The report relates that the target
price is US$12.70 per share.
Empresas ICA S.A.B. de C.V. offers engineering and construction
services. The company builds dams, highways, airports, office
buildings, shopping centers, manufacturing facilities, and housing
projects, operates water distribution and treatment systems,
highways, and parking facilities, mines aggregates, operates
ports, and builds grain storage systems.
* * *
As of June 28, 2010, the company continues to carry Standard and
Poor's "BB-" issuer credit ratings.
GRUPO KUO: S&P Affirms 'BB-' Global Corporate Credit Ratings
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings on Grupo KUO S.A.B. de C.V., including the 'BB-' global
scale and 'mxBBB+' national scale corporate credit ratings.
The outlook is stable.
"The ratings affirmation was prompted by the Mexico-based
conglomerate's reporting of 2009 and first-quarter 2010 financial
performance in line with S&P's expectations," said Standard &
Poor's credit analyst Laura Martinez.
The ratings on Kuo are limited by the low and volatile
profitability inherent to some of the core businesses in which it
operates and its relatively high financial leverage indicators, in
S&P's view.
However, the ratings are supported by the company's focus on
maintaining only profitable and value-added operations within its
business portfolio, its relatively comfortable debt maturity
schedule, and the continued implementation of cost reduction and
efficiency programs.
The stable outlook reflects S&P's expectation that Kuo will
continue to implement cost reduction and efficiency programs,
while focusing on value-added and profitable businesses, leading
to further improvements in its operating and financial profiles.
HIPOTECARIA SU: Moody's Downgrades Ratings on Certs. to 'Ba2'
-------------------------------------------------------------
Moody's de Mexico has downgraded Hipotecaria Su Casita, S.A. de
C.V. Sociedad Financiera de Objeto Multiple E.N.R.'s HSCCB 08
Senior Certificates to Ba2.mx from Baa3.mx (Mexican National
Scale). At the same time, Moody's Investors Service downgraded
the certificates' Global Scale, Local Currency rating to B2 from
B1. Moody's notes that the HSCCB 08 transaction is still
revolving and Su Casita can continue to assign new construction
loans to the trust.
The rating action is primarily based on Moody's recent downgrade
of Hipotecaria Su Casita's ratings coupled with the revolving
nature of the transaction. On June 21, 2010, Moody's downgraded
Su Casita's global scale local currency issuer rating to B2 from
B1 and its national scale issuer rating to Baa3.mx from Baa1.mx.
The rating outlook on Su Casita's issuer ratings remains negative.
Under Moody's rating approach (updated in august 2009), and absent
certain structural protections detailed in Moody's new rating
methodology, Moody's considers the rating of revolving
construction loan securitizations to be highly linked to the
rating of the originator and servicer of the assets. This is due
to the revolving nature of the transactions and the intensive
servicing efforts associated with construction loans.
The transaction has a slow pace of homes sales, pool amortization
and construction across certain projects. As a result, many of
the loans included in the transaction are likely to require
extensions to their original maturity date, which increases the
risk that the loans may not fully amortize by the transaction's
final maturity date. In addition, the transaction has a high
concentration of loans outside the low-income housing sector,
which may contribute to a slower pace of home sales as compared to
the low-income housing sector.
Moody's notes that the transaction's legal final maturity is in
March 2014, and that the revolving period ends 18 months prior to
the maturity date, at which point the certificates begin to
amortize. Any additional loans added during the remaining
revolving period may also need extensions to their maturity dates,
given the current slowdown in sales and construction completion
rates. As of June 2010, the senior certificates' had gross credit
enhancement of 20% in the form of overcollateralization and cash
holdings to protect against extension and default risk.
The B1 and Baa1.mx ratings of Su Casita's HSCCB 06 transaction
remain unchanged and were not impacted by the rating action.
HSCCB 06's securitized pool is static (no new loans can be added
to the transaction) and its legal final maturity date is in
September 2016. However, Moody's will continue to closely monitor
the performance of the HSCCB 06 certificates given a noticeable
increase in delinquencies over the past six months.
Rating Methodology
Rating Action
The complete rating action is:
Originator and Servicer: Hipotecaria Su Casita, S.A. de C.V.
Sociedad Financiera de Objeto Multiple E.N.R.
Issuer: The Bank of New York Mellon, S.A., acting solely as
trustee.
-- HSCCB 08 Series A Certificates: downgraded to Ba2.mx from
Baa3.mx (Mexican National Scale) and to B2 from B1 (Global
Scale, Local Currency). The last rating action occurred on
January 5, 2010 when the ratings were downgraded to Baa3.mx
from Aaa.mx and to B1 from Baa1.
=================
V E N E Z U E L A
=================
PETROLEOS DE VENEZUELA: Unit to Provide Technical Aid to JVs
------------------------------------------------------------
With the purpose of assisting in the extraction of medium and
light crude oil from the joint ventures located in the East of the
country, PDVSA Intevep, technical and scientific subsidiary of
Petroleos de Venezuela SA, will provide specialized technical
assistance and the necessary technology according to the oil
business value chain in order to meet the production quota that
each one has established.
This agreement was consolidated during the First Technical Meeting
between the state oil technological branch and joint ventures of
the East, an event held recently in the city of Maturin, Monagas
state.
Some of the Intevep technical processes that will contribute to
the joint ventures of the East will include: seismic
interpretation, artificial lift, exploitation schemes,
geomechanics, integrated studies, corrosion assessment, water
management, and joint evaluation with CVP for the certification of
companies services, among others.
For their part, representatives from the joint ventures of the
East presented to the Intevep's delegation the technical
requirements, in addition to the exposure of the El Salto Project,
Petrodelta; the Growth Plan Petroindovenezolana and the Adjourned
Production Petroritupano, intending to seek joint solutions with
the capacity and technological facilities of the oil subsidiary.
About PDVSA
Petroleos de Venezuela -- http://www.pdvsa.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.
* * *
As of March 8, 2010, the company continues to carry Moody's "Ba1"
local currency issuer rating. The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.
===============
X X X X X X X X
===============
* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
Total
Total Shareholders
Assets Equity
Company Ticker (US$MM) (US$MM)
------- ------ ------------ -------
ARGENTINA
SOC COMERCIAL PL SCDPF US 135360486 -251112324
SNIAFA SA-B SDAGF US 11229696 -2670544.88
AUTOPISTAS SOL APDSF US 358937631 -3636032.25
SOC COMERCIAL PL CAD IX 135360486 -251112324
SOC COMERCIAL PL CVVIF US 135360486 -251112324
SOC COMERCIAL PL CADN EO 135360486 -251112324
COMERCIAL PL-ADR SCPDS LI 135360486 -251112324
SOC COMERCIAL PL COME AR 135360486 -251112324
SOC COMERCIAL PL CADN SW 135360486 -251112324
COMERCIAL PLA-BL COMEB AR 135360486 -251112324
COMERCIAL PL-C/E COMEC AR 135360486 -251112324
COMERCIAL PLAT-$ COMED AR 135360486 -251112324
SNIAFA SA SNIA AR 11229696 -2670544.88
SNIAFA SA-B SNIA5 AR 11229696 -2670544.88
AUTOPISTAS SOL AUSO AR 358937631 -3636032.25
IMPSAT FIBER NET IMPTQ US 535007008 -17165000
IMPSAT FIBER NET 330902Q GR 535007008 -17165000
IMPSAT FIBER NET XIMPT SM 535007008 -17165000
IMPSAT FIBER-CED IMPT AR 535007008 -17165000
IMPSAT FIBER-C/E IMPTC AR 535007008 -17165000
IMPSAT FIBER-$US IMPTD AR 535007008 -17165000
IMPSAT FIBER-BLK IMPTB AR 535007008 -17165000
BRAZIL
DOC IMBITUBA-RTC IMBI1 BZ 94039192 -39398915.1
DOC IMBITUBA-RTP IMBI2 BZ 94039192 -39398915.1
TELECOMUNICA-ADR 81370Z BZ 244857050 -14105541.5
FABRICA TECID-RT FTRX1 BZ 63036915 -59781833
PROMAN PRMN3B BZ 13088926 -87154.5455
TEKA-ADR TEKAY US 237346006 -337859942
BOMBRIL BMBBF US 292257859 -115839632
TELEBRAS-PF RCPT CBRZF US 244857050 -14105541.5
TEKA TKTQF US 237346006 -337859942
TEKA-PREF TKTPF US 237346006 -337859942
PET MANG-RIGHTS RPMG1 BZ 111979912 -134952358
PET MANG-RIGHTS RPMG2 BZ 111979912 -134952358
PET MANG-RECEIPT RPMG9 BZ 111979912 -134952358
PET MANG-RECEIPT RPMG10 BZ 111979912 -134952358
SANESALTO SNST3 BZ 28244078 -875835.818
BOMBRIL-RGTS PRE BOBR2 BZ 292257859 -115839632
BOMBRIL-RIGHTS BOBR1 BZ 292257859 -115839632
TELEBRAS/W-I-ADR TBH-W US 244857050 -14105541.5
LAEP-BDR MILK11 BZ 446499199 -70952298.9
LAEP INVESTMENTS LEAP LX 446499199 -70952298.9
BALADARE BLDR3 BZ 157282424 -54153845.9
TEXTEIS RENAU-RT TXRX1 BZ 63634626 -91597740.4
TEXTEIS RENAU-RT TXRX2 BZ 63634626 -91597740.4
TEXTEIS RENA-RCT TXRX9 BZ 63634626 -91597740.4
TEXTEIS RENA-RCT TXRX10 BZ 63634626 -91597740.4
TELEBRAS SA-RT TELB9 BZ 244857050 -14105541.5
CIA PETROLIF-PRF MRLM4 BZ 377602195 -3014291.72
CIA PETROLIFERA MRLM3 BZ 377602195 -3014291.72
NOVA AMERICA SA NOVA3 BZ 21287489 -183535527
NOVA AMERICA-PRF NOVA4 BZ 21287489 -183535527
PROMAN PRMN3 BZ 13088926 -87154.5455
STEEL DO BRASIL STLB3 BZ 24189041 -2271641.06
TELEBRAS SA TELB3 BZ 244857050 -14105541.5
TELEBRAS SA TLBRON BZ 244857050 -14105541.5
TELEBRAS SA TBASF US 244857050 -14105541.5
TELEBRAS SA-PREF TELB4 BZ 244857050 -14105541.5
TELEBRAS SA-PREF TLBRPN BZ 244857050 -14105541.5
TELEBRAS-ADR TBAPY US 244857050 -14105541.5
TELEBRAS-ADR TBRAY GR 244857050 -14105541.5
TELEBRAS-CEDE PF RCTB4 AR 244857050 -14105541.5
TELEBRAS-CED C/E RCT4C AR 244857050 -14105541.5
TELEBRAS-CEDEA $ RCT4D AR 244857050 -14105541.5
TELEBRAS-CEDE BL RCT4B AR 244857050 -14105541.5
TELEBRAS-ADR TBH US 244857050 -14105541.5
TELEBRAS-ADR TBX GR 244857050 -14105541.5
TELEBRAS-ADR RTB US 244857050 -14105541.5
TELEBRAS-ADR TBASY US 244857050 -14105541.5
TELEBRAS-RCT PRF TELB10 BZ 244857050 -14105541.5
TELEBRAS-RTS CMN RCTB1 BZ 244857050 -14105541.5
TELEBRAS-RTS PRF RCTB2 BZ 244857050 -14105541.5
TELEBRAS-RTS CMN TCLP1 BZ 244857050 -14105541.5
TELEBRAS-RTS PRF TLCP2 BZ 244857050 -14105541.5
TELEBRAS-COM RT TELB1 BZ 244857050 -14105541.5
TELEBRAS-CM RCPT RCTB31 BZ 244857050 -14105541.5
TELEBRAS-CM RCPT TELE31 BZ 244857050 -14105541.5
TELEBRAS-RCT RCTB33 BZ 244857050 -14105541.5
TELEBRAS-CM RCPT TBRTF US 244857050 -14105541.5
TELEBRAS-CM RCPT RCTB32 BZ 244857050 -14105541.5
TELEBRAS-PF RCPT RCTB41 BZ 244857050 -14105541.5
TELEBRAS-PF RCPT TELE41 BZ 244857050 -14105541.5
TELEBRAS-PF RCPT RCTB42 BZ 244857050 -14105541.5
TELEBRAS-CEDE PF TELB4 AR 244857050 -14105541.5
TELEBRAS-CED C/E TEL4C AR 244857050 -14105541.5
TELEBRAS-CM RCPT RCTB30 BZ 244857050 -14105541.5
TELEBRAS-PF RCPT RCTB40 BZ 244857050 -14105541.5
TELEBRAS-PF RCPT TBAPF US 244857050 -14105541.5
TELEBRAS-RECEIPT TLBRUO BZ 244857050 -14105541.5
TELEBRAS-PF RCPT TLBRUP BZ 244857050 -14105541.5
TELEBRAS-BLOCK TELB30 BZ 244857050 -14105541.5
TELEBRAS-PF BLCK TELB40 BZ 244857050 -14105541.5
TELEBRAS-CEDEA $ TEL4D AR 244857050 -14105541.5
ARTHUR LANGE ARLA3 BZ 11642256 -17154461.9
ARTHUR LANGE SA ALICON BZ 11642256 -17154461.9
ARTHUR LANGE-PRF ARLA4 BZ 11642256 -17154461.9
ARTHUR LANGE-PRF ALICPN BZ 11642256 -17154461.9
ARTHUR LANG-RT C ARLA1 BZ 11642256 -17154461.9
ARTHUR LANG-RT P ARLA2 BZ 11642256 -17154461.9
ARTHUR LANG-RC C ARLA9 BZ 11642256 -17154461.9
ARTHUR LANG-RC P ARLA10 BZ 11642256 -17154461.9
ARTHUR LAN-DVD C ARLA11 BZ 11642256 -17154461.9
ARTHUR LAN-DVD P ARLA12 BZ 11642256 -17154461.9
BOMBRIL BOBR3 BZ 292257859 -115839632
BOMBRIL CIRIO SA BOBRON BZ 292257859 -115839632
BOMBRIL-PREF BOBR4 BZ 292257859 -115839632
BOMBRIL CIRIO-PF BOBRPN BZ 292257859 -115839632
BOMBRIL SA-ADR BMBPY US 292257859 -115839632
BOMBRIL SA-ADR BMBBY US 292257859 -115839632
CAF BRASILIA CAFE3 BZ 18540302 -790303366
CAFE BRASILIA SA CSBRON BZ 18540302 -790303366
CAF BRASILIA-PRF CAFE4 BZ 18540302 -790303366
CAFE BRASILIA-PR CSBRPN BZ 18540302 -790303366
CHIARELLI SA CCHI3 BZ 22274027 -44537138.2
CHIARELLI SA CCHON BZ 22274027 -44537138.2
CHIARELLI SA-PRF CCHI4 BZ 22274027 -44537138.2
CHIARELLI SA-PRF CCHPN BZ 22274027 -44537138.2
DOC IMBITUBA IMBI3 BZ 94039192 -39398915.1
DOCAS IMBITUBA IMBION BZ 94039192 -39398915.1
DOC IMBITUB-PREF IMBI4 BZ 94039192 -39398915.1
DOCAS IMBITUB-PR IMBIPN BZ 94039192 -39398915.1
SCHLOSSER SCLO3 BZ 13140656 -56631899.1
SCHLOSSER SA SCHON BZ 13140656 -56631899.1
SCHLOSSER-PREF SCLO4 BZ 13140656 -56631899.1
SCHLOSSER SA-PRF SCHPN BZ 13140656 -56631899.1
D H B DHBI3 BZ 133817651 -443044246
DHB IND E COM DHBON BZ 133817651 -443044246
D H B-PREF DHBI4 BZ 133817651 -443044246
DHB IND E COM-PR DHBPN BZ 133817651 -443044246
DOCA INVESTIMENT DOCA3 BZ 319046939 -119089653
DOCAS SA DOCAON BZ 319046939 -119089653
DOCA INVESTI-PFD DOCA4 BZ 319046939 -119089653
DOCAS SA-PREF DOCAPN BZ 319046939 -119089653
DOCAS SA-RTS PRF DOCA2 BZ 319046939 -119089653
ACO ALTONA EALT3 BZ 80346370 -11622480.4
ACO ALTONA SA EAAON BZ 80346370 -11622480.4
ACO ALTONA-PREF EALT4 BZ 80346370 -11622480.4
ACO ALTONA-PREF EAAPN BZ 80346370 -11622480.4
FABRICA RENAUX FTRX3 BZ 63036915 -59781833
FABRICA RENAUX FRNXON BZ 63036915 -59781833
FABRICA RENAUX-P FTRX4 BZ 63036915 -59781833
FABRICA RENAUX-P FRNXPN BZ 63036915 -59781833
HAGA HAGA3 BZ 17657785 -62285757.3
FERRAGENS HAGA HAGAON BZ 17657785 -62285757.3
FER HAGA-PREF HAGA4 BZ 17657785 -62285757.3
FERRAGENS HAGA-P HAGAPN BZ 17657785 -62285757.3
TECEL S JOSE SJOS3 BZ 17924946 -18569451.2
TECEL S JOSE FTSJON BZ 17924946 -18569451.2
TECEL S JOSE-PRF SJOS4 BZ 17924946 -18569451.2
TECEL S JOSE-PRF FTSJPN BZ 17924946 -18569451.2
CIMOB PARTIC SA GAFP3 BZ 36817395 -33083086.5
CIMOB PARTIC SA GAFON BZ 36817395 -33083086.5
CIMOB PART-PREF GAFP4 BZ 36817395 -33083086.5
CIMOB PART-PREF GAFPN BZ 36817395 -33083086.5
GAZOLA GAZO3 BZ 12452143 -40298506.3
GAZOLA SA GAZON BZ 12452143 -40298506.3
GAZOLA-PREF GAZO4 BZ 12452143 -40298506.3
GAZOLA SA-PREF GAZPN BZ 12452143 -40298506.3
GAZOLA-RCPTS CMN GAZO9 BZ 12452143 -40298506.3
GAZOLA-RCPT PREF GAZO10 BZ 12452143 -40298506.3
GAZOLA SA-DVD CM GAZO11 BZ 12452143 -40298506.3
GAZOLA SA-DVD PF GAZO12 BZ 12452143 -40298506.3
IGB ELETRONICA IGBR3 BZ 145256033 -273857292
GRADIENTE ELETR IGBON BZ 145256033 -273857292
GRADIENTE-PREF A IGBR5 BZ 145256033 -273857292
GRADIENTE EL-PRA IGBAN BZ 145256033 -273857292
GRADIENTE-PREF B IGBR6 BZ 145256033 -273857292
GRADIENTE EL-PRB IGBBN BZ 145256033 -273857292
GRADIENTE-PREF C IGBR7 BZ 145256033 -273857292
GRADIENTE EL-PRC IGBCN BZ 145256033 -273857292
HERCULES HETA3 BZ 10710103 -164239944
HERCULES SA HERTON BZ 10710103 -164239944
HERCULES-PREF HETA4 BZ 10710103 -164239944
HERCULES SA-PREF HERTPN BZ 10710103 -164239944
HOTEIS OTHON SA HOOT3 BZ 238707299 -35774972.9
HOTEIS OTHON SA HOTHON BZ 238707299 -35774972.9
HOTEIS OTHON-PRF HOOT4 BZ 238707299 -35774972.9
HOTEIS OTHON-PRF HOTHPN BZ 238707299 -35774972.9
RENAUXVIEW SA TXRX3 BZ 63634626 -91597740.4
TEXTEIS RENAUX RENXON BZ 63634626 -91597740.4
RENAUXVIEW SA-PF TXRX4 BZ 63634626 -91597740.4
TEXTEIS RENAUX RENXPN BZ 63634626 -91597740.4
PARMALAT LCSA3 BZ 388720052 -213641144
PARMALAT BRASIL LCSAON BZ 388720052 -213641144
PARMALAT-PREF LCSA4 BZ 388720052 -213641144
PARMALAT BRAS-PF LCSAPN BZ 388720052 -213641144
PARMALAT BR-RT C LCSA5 BZ 388720052 -213641144
PARMALAT BR-RT P LCSA6 BZ 388720052 -213641144
ESTRELA SA ESTR3 BZ 61011894 -54580283.6
ESTRELA SA ESTRON BZ 61011894 -54580283.6
ESTRELA SA-PREF ESTR4 BZ 61011894 -54580283.6
ESTRELA SA-PREF ESTRPN BZ 61011894 -54580283.6
RIOSULENSE SA RSUL3 BZ 68368524 -9647727.04
RIOSULENSE SA RSULON BZ 68368524 -9647727.04
RIOSULENSE SA-PR RSUL4 BZ 68368524 -9647727.04
RIOSULENSE SA-PR RSULPN BZ 68368524 -9647727.04
WETZEL SA MWET3 BZ 84310496 -7570637.42
WETZEL SA MWELON BZ 84310496 -7570637.42
WETZEL SA-PREF MWET4 BZ 84310496 -7570637.42
WETZEL SA-PREF MWELPN BZ 84310496 -7570637.42
MINUPAR MNPR3 BZ 63223032 -58260845.7
MINUPAR SA MNPRON BZ 63223032 -58260845.7
MINUPAR-PREF MNPR4 BZ 63223032 -58260845.7
MINUPAR SA-PREF MNPRPN BZ 63223032 -58260845.7
NORDON MET NORD3 BZ 15427479 -20563974.4
NORDON METAL NORDON BZ 15427479 -20563974.4
NORDON MET-RTS NORD1 BZ 15427479 -20563974.4
NOVA AMERICA SA NOVA3B BZ 21287489 -183535527
NOVA AMERICA SA NOVAON BZ 21287489 -183535527
NOVA AMERICA-PRF NOVA4B BZ 21287489 -183535527
NOVA AMERICA-PRF NOVAPN BZ 21287489 -183535527
NOVA AMERICA-PRF 1NOVPN BZ 21287489 -183535527
NOVA AMERICA SA 1NOVON BZ 21287489 -183535527
PETRO MANGUINHOS RPMG3 BZ 111979912 -134952358
PETRO MANGUINHOS MANGON BZ 111979912 -134952358
PET MANGUINH-PRF RPMG4 BZ 111979912 -134952358
PETRO MANGUIN-PF MANGPN BZ 111979912 -134952358
RIMET REEM3 BZ 63757622 -107162240
RIMET REEMON BZ 63757622 -107162240
RIMET-PREF REEM4 BZ 63757622 -107162240
RIMET-PREF REEMPN BZ 63757622 -107162240
SANSUY SNSY3 BZ 147187163 -86606310.8
SANSUY SA SNSYON BZ 147187163 -86606310.8
SANSUY-PREF A SNSY5 BZ 147187163 -86606310.8
SANSUY SA-PREF A SNSYAN BZ 147187163 -86606310.8
SANSUY-PREF B SNSY6 BZ 147187163 -86606310.8
SANSUY SA-PREF B SNSYBN BZ 147187163 -86606310.8
BOTUCATU TEXTIL STRP3 BZ 35101567 -13482713.5
STAROUP SA STARON BZ 35101567 -13482713.5
BOTUCATU-PREF STRP4 BZ 35101567 -13482713.5
STAROUP SA-PREF STARPN BZ 35101567 -13482713.5
TEKA TEKA3 BZ 237346006 -337859942
TEKA TEKAON BZ 237346006 -337859942
TEKA-PREF TEKA4 BZ 237346006 -337859942
TEKA-PREF TEKAPN BZ 237346006 -337859942
TEKA-ADR TKTPY US 237346006 -337859942
TEKA-ADR TKTQY US 237346006 -337859942
VARIG SA VAGV3 BZ 966298026 -4695211316
VARIG SA VARGON BZ 966298026 -4695211316
VARIG SA-PREF VAGV4 BZ 966298026 -4695211316
VARIG SA-PREF VARGPN BZ 966298026 -4695211316
WIEST WISA3 BZ 39838114 -93371563.1
WIEST SA WISAON BZ 39838114 -93371563.1
WIEST-PREF WISA4 BZ 39838114 -93371563.1
WIEST SA-PREF WISAPN BZ 39838114 -93371563.1
FER C ATLANT VSPT3 BZ 1.185E+09 -50468104.7
FER C ATLANT-PRF VSPT4 BZ 1.185E+09 -50468104.7
FERROVIA CEN-DVD VSPT11 BZ 1.185E+09 -50468104.7
FERROVIA CEN-DVD VSPT12 BZ 1.185E+09 -50468104.7
FER C ATL-RCT CM VSPT9 BZ 1.185E+09 -50468104.7
FER C ATL-RCT PF VSPT10 BZ 1.185E+09 -50468104.7
CIA PETROLIFERA MRLM3B BZ 377602195 -3014291.72
CIA PETROLIF-PRF MRLM4B BZ 377602195 -3014291.72
CIA PETROLIFERA 1CPMON BZ 377602195 -3014291.72
CIA PETROLIF-PRF 1CPMPN BZ 377602195 -3014291.72
VARIG PART EM TR VPTA3 BZ 49432124 -399290426
VARIG PART EM-PR VPTA4 BZ 49432124 -399290426
VARIG PART EM SE VPSC3 BZ 96617351 -460274609
VARIG PART EM-PR VPSC4 BZ 96617351 -460274609
CHILE
CHILESAT CO-ADR TL US 649980376 -82003656.5
CHILESAT CORP SA TELEX CI 649980376 -82003656.5
CHILESAT CO-RTS CHISATOS CI 649980376 -82003656.5
TELMEX CORP SA CHILESAT CI 649980376 -82003656.5
TELEX-A TELEXA CI 649980376 -82003656.5
TELMEX CORP-ADR CSAOY US 649980376 -82003656.5
TELEX-RTS TELEXO CI 649980376 -82003656.5
***********
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 * * *