/raid1/www/Hosts/bankrupt/TCRLA_Public/100630.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

              Wednesday, June 30, 2010, Vol. 11, No. 127

                            Headlines



A R G E N T I N A

CENTRO SUDAMERICANO: Creditors' Proofs of Debt Due on August 2
DAYANNE SA: Creditors' Proofs of Debt Due on August 26
ELASTIKA SRL: Creditors' Proofs of Debt Due on September 6
GARBARINO SA: Moody's Affirms Corporate Family Rating at 'B2'
INSTITUTO PRIVADO: Creditors' Proofs of Debt Due on July 15

LE GROUPE: Creditors' Proofs of Debt Due on September 21
NANDERS SA: Creditors' Proofs of Debt Due on August 12
PRESS GROUP: Creditors' Proofs of Debt Due on August 9


B R A Z I L

BANCO MODAL: Makes 1st Oil and Gas Private Equity Fund Investment
BANCO SOFISA: Discloses Results of Share Offering
CAIXA ECONOMICA: May Buy Stake in Credit-Card Company
COMPANHIA SIDERURGICA: Hires Banks to Arrange Investor Meetings
JBS SA: Australia's Watchdog Comments on Rockdale Beef Acquisition

TAM SA: Signs Codeshare Agreement With Continental Airlines


C A Y M A N  I S L A N D S

AABAR SUKUK: Creditors' Proofs of Debt Due on July 21
ALADDIN TALF: Shareholder to Receive Wind-Up Report on July 13
ALLIED FUND: Shareholder to Receive Wind-Up Report on July 11
BACCHUS & ALKES: Shareholders to Hear Wind-Up Report on July 23
DEBAFU DEAL: Shareholders to Receive Wind-Up Report on July 23

DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
DRAKE LONG: Shareholders to Hear Wind-Up Report on July 23
EXPRESSWAY PARTNERS: Members to Hear Wind-Up Report on July 23
KITE IAM: Shareholders to Hear Wind-Up Report on July 28
OVERSEAS IAM: Shareholders to Hear Wind-Up Report on July 28

PEQUOT EVENT: Shareholders to Receive Wind-Up Report on July 23
PEQUOT EVENT: Shareholders to Receive Wind-Up Report on July 23
PEQUOT NEW: Shareholders to Receive Wind-Up Report on July 23
PEQUOT NEW: Shareholders to Receive Wind-Up Report on July 23
PEQUOT SPINNAKER: Shareholders to Hear Wind-Up Report on July 23

PEQUOT SPINNAKER: Shareholders to Hear Wind-Up Report on July 23
PRUDENCE IAM: Shareholders to Hear Wind-Up Report on July 28
SOUNDBITE DENTAL: Shareholders to Hear Wind-Up Report on July 26
SUNRISE CAPITAL: Shareholder Receives Wind-Up Report


J A M A I C A

FORUM HOTEL: UDC Makes Another Attempt to Sell Hotel


P U E R T O  R I C O

FIRST BANCORP: Fitch Puts Issuer Default Rating on Negative Watch
HERIBERTO SANTIAGO: Case Summary & 6 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Cabinet to Receive Restructuring Report Soon


T U R K S  &  C A I C O S  I S L A N D S

OLINT CORP: TCI Supreme Court Begins Fraud Case Hearing


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Venezuela Issues More Arrest Warrants
PETROLEOS DE VENEZUELA: To Renegotiate Contracts to Reduce Costs


V I R G I N  I S L A N D S

CABLE & WIRELESS: LIME BVI Taps Sean Auguste as General Manager




                         - - - - -


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


CENTRO SUDAMERICANO: Creditors' Proofs of Debt Due on August 2
--------------------------------------------------------------
The court-appointed trustee for Centro Sudamericano de Informatica
S.A.'s bankruptcy proceedings, will be verifying creditors' proofs
of claim until August 2, 2010.

The trustee will present the validated claims in court as
individual reports on October 8, 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 12, 2010.


DAYANNE SA: Creditors' Proofs of Debt Due on August 26
------------------------------------------------------
The court-appointed trustee for Dayanne S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
August 26, 2010.

The trustee will present the validated claims in court as
individual reports on October 7, 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 19, 2010.


ELASTIKA SRL: Creditors' Proofs of Debt Due on September 6
----------------------------------------------------------
The court-appointed trustee for Elastika S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
September 6, 2010.

The trustee will present the validated claims in court as
individual reports on October 18, 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 29, 2010.


GARBARINO SA: Moody's Affirms Corporate Family Rating at 'B2'
-------------------------------------------------------------
Moody's Latin America has affirmed Garbarino SA's B2 local
currency corporate family rating and upgraded its Argentina
national scale rating to Aa3.ar from A1.ar.  At the same time,
Moody's has affirmed its B2 local currency rating and upgraded the
National Scale Rating to Aa3.ar from A1.ar to Garbarino's ARS30
million bonds issued in domestic market in Argentina and the ARS15
million loan with Banco de la Nacion Argentina (BNA, not rated).
Moody's revised the outlook on all ratings to positive from
stable.

"The change in the ratings outlook to positive and the upgrade of
the national scale ratings to Aa3.ar are prompted by Garbarino's
strong revenue growth and Moody's expectation that Garbarino's
sales and funds from operations will continue to benefit from the
government sponsored installment payment scheme for consumer
electronics products as well as from the 2010 World Cup Soccer
event," said Moody's AVP Analyst, Veronica Amendola.
"Additionally, the outlook reflects Garbarino's strong credit
metrics, adequate liquidity profile and low leased-adjusted debt
leverage."

The B2 and Aa3.ar ratings are underpinned by Garbarino's brand
strength, dominant position in the Argentinean retailer market,
solid credit metrics and the diversification of its product line,
which has allowed Garbarino to increase its market share.  Also
positive for the ratings is the high proportion of credit card
sales where the delinquency risk is borne by the credit card
issuers.  Credit card sales often allow customers to pay in
several monthly installments.

Credit negatives partly offsetting these strengths include
Garbarino's low geographic diversity, relatively small scale when
compared against its global peers and its reliance on continually
renewing uncommitted bank credit.  Also constraining the ratings
is Moody's expectation that Garbarino's margins are subject to
potential pressure, given the country's high inflation rates.

Garbarino's B2 local currency rating reflects its global default
and loss expectation, while the Aa3.ar national scale rating
reflects the standing of Garbarino's credit quality relative to
its domestic peers.  Moody's National Scale Ratings are intended
as relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks.  NSRs in Argentina are designated by
the ".ar" suffix.  Issuers or issues rated Aa3.ar present above-
average creditworthiness relative to other domestic issuers.  NSRs
differ from global scale ratings in that they are not globally
comparable to the full universe of Moody's rated entities, but
only with other rated entities within the same country

The positive outlook reflects Moody's expectation that Garbarino
will be able to increase revenues and earnings over the near term
based on its efficiency and commercial initiatives.  The rating
outlook also reflects Moody's expectation that Garbarino will
continue to successfully implement its business model, thus
allowing the retailer to preserve adequate access to external
financing sources to meet its short-term debt obligations while
maintaining adequate levels of cash generation in relation to
debt.

An upgrade of the ratings could result from a continued
strengthening of Garbarino's revenues after the 2010 World Cup
event while maintaining its operating margins and low leverage.
In addition, the extension period of the current credit cards
installment payment scheme could bring upward pressure on the
ratings.  Quantitatively, upward momentum could result if
Garbarino's total adjusted debt to EBITDA is sustainable below 2.5
times (3.2 times as of the last twelve months ended in January 31,
2010) and EBITDA margin above 9% (7.8% as of the last twelve
months ended in January 31, 2010).  Additionally, a more
predictable outlook for economic activity in Argentina would be
important for upward pressure.

The rating outlook is most likely to return to stable if there is
reduced availability of consumer loans in 2011 or if weaker than
expected performance leads to a deterioration in operating
margins.  Quantitatively, a downgrade could result from a drop in
Garbarino's EBIT margin to below 3.0% on a three-year average
basis or a significant increase in leverage, with total adjusted
debt to EBITDA of above 6 times.  Indications of a weakening
market share in the domestic retail market could also drive
negative pressure.

Headquartered in Buenos Aires, Argentina, Garbarino is one of the
largest home appliance retailers in Argentina.  With total
revenues of ARS3.5 billion (US$920 millions) and 4.300 employees
as of the last twelve months ended in January 31, 2010, Garbarino
was founded in 1951 by an Argentinean family and has developed
into a widely and well-known brand name in the local retail
market.


INSTITUTO PRIVADO: Creditors' Proofs of Debt Due on July 15
-----------------------------------------------------------
The court-appointed trustee for Instituto Privado de Radiologia y
Fisioterapia San Lucas S.R.L.'s bankruptcy proceedings, will be
verifying creditors' proofs of claim until July 15, 2010.

The trustee will present the validated claims in court as
individual reports on September 15, 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 5, 2010.


LE GROUPE: Creditors' Proofs of Debt Due on September 21
--------------------------------------------------------
The court-appointed trustee for Le Groupe Servicios S.R.L.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until September 21, 2010.

The trustee will present the validated claims in court as
individual reports on November 5, 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 20, 2010.


NANDERS SA: Creditors' Proofs of Debt Due on August 12
------------------------------------------------------
The court-appointed trustee for Nanders S.A.'s reorganization
proceedings, will be verifying creditors' proofs of claim until
August 12, 2010.

The trustee will present the validated claims in court as
individual reports on September 24, 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 [company]'s
accounting and banking records will be submitted in court on
November 8, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on May 5, 2011.


PRESS GROUP: Creditors' Proofs of Debt Due on August 9
------------------------------------------------------
The court-appointed trustee for Press Group S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
August 9, 2010.

The trustee will present the validated claims in court as
individual reports on September 23, 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 8, 2010.


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


BANCO MODAL: Makes 1st Oil and Gas Private Equity Fund Investment
-----------------------------------------------------------------
Banco Modal disclosed that its FIP Oil and Gas, Private Equity
Fund managed by Modal and administrated by Caixa Economica
Federal, made its first investment.  The corporation benefited is
ENESA Engenharia that operates in gas, energy, steel and
metallurgy among others.  The investment will be a minority stake
in the amount of BRL90 million, approximately 20% of the total
BRL500 million FIP captured amount.

The objective of the fund is to inject capital into companies in
the oil and gas sector, promoting their structured and sustainable
growth and eventually turning them into potential candidates for
public listing over the next years.

The fund, which has the support of Petrobras and Prominp, is the
first Private Equity Fund aimed at companies in the oil and gas
supply chain, i.e. present or potential Petrobras suppliers.  The
fund start-up is aligned with the announcement of Petrobras'
strategy to promote and stimulate funding alternatives to its
supply chain.  Prominp also contributes to the fund participating
in the process of identifying target companies for investment
through its ongoing analysis of the oil and gas supply chain.

The placement was completed by Modal Bank in the expected amount
of BRL500 million.  Among the nine Fund shareholders are Banco
Nacional de Desenvolvimento Economico (BNDES), represented by
BNDESPAR; (PETROS), the Petrobras pension fund; FUNCEF, the
pension of Caixa Economica and CEEE, the pension fund of Companhia
Estadual de Energia Eletrica do Rio Grande do Sul.  It is
noteworthy that the choice of BNDES was made in a competitive
process and that the investment in MODAL Private Equity Fund was
the only investment in the oil and gas sector in the selection
process.

The Fund will invest primarily in minority equity stakes,
preferably through issuance of new shares, in other words, capital
injection in the target companies.  This way the fund managers
will promote a total alignment with the interests of the original
shareholders. Over the next four years, FIP Oil and Gas plans to
invest BRL50 million to 100 million per company.

The investments of the Fund will allow each invested company to
improve its business development through: (i) acquisition of
financial expertise; (ii) oil and gas industry relationships;
(iii) implementation of best governance practices; and (iv)
business continuity approach.

The ultimate goal of the Fund, acting as a partner, is to prepare
the associated company to engage in an IPO four and five years
later, in a solid and structured way.  The promotion of incentives
to structure other FIPs is part of Petrobras' strategy to promote
and stimulate funding alternatives for its supply chain is
understood as the main challenge for the growth of its business
and the oil and gas sector as a whole.

            Track Record in Oil and Gas Supply Chain

Since 2001, Modal has been allocating resources trough credit
operations to oil and gas sector companies.  Modal has already
granted more than BRL7.4 billion in loans and has completed more
than 1,000 visits.  The idea is to use its expertise to identify
the most capacitated companies to take advantage of investments in
the sector.

The team of the Private Equity arm of Banco Modal, currently
managing nearly BRL2.0 billion, has a long history of
participation in private equity and M&A ventures with a wide
experience in board participation.  This business has proven very
successful and its development constitutes one of Banco Modal's
top priorities.

                       About Banco Modal

Banco Modal was founded in 1996 and has more than 400 corporate
clients located in 11 Brazilian states.  As of December 2009,
Modal had BRL 957 million in assets, BRL203 million in equity, a
capital base of BRL255 million and a net income of BRL18 million.

                          *     *     *

As of June 29, 2010, the company continues to carry Moody's "Ba3"
long term rating and LT bank deposit ratings


BANCO SOFISA: Discloses Results of Share Offering
-------------------------------------------------
Banco Sofisa S.A. informed its Shareholders and the market of the
current situation of its rights offering, as approved by the
Annual and Extraordinary Shareholders' Meeting held on April 30,
2010.

                    Shares Offered: 12,381,590
                 Shares Subscribed: 3,702
                   Shares Reserved: 1,919
   Apportioned Unsubscribed Shares: 12,375,969

In accordance with CVM Orientation Report no. 8 issued by the
Securities and Exchange Commission of Brazil on August 4, 1981,
the entire process will be re-ratified by a new resolution taken
by a meeting of shareholders, which means a period of fifteen (15)
days as of June 21, 2010, will be granted to Shareholders that
have subscribed shares in which they must confirm their
subscriptions.

The confirmation made by Shareholders must be made in writing and
mailed to the Investor Relations Department at Alameda Santos n§
1496, Sao Paulo/SP or emailed to ri@sofisa.com.br.

If Shareholders do not confirm their subscription within the term
established above, the full amounts they have deposited for the
subscription of shares will be fully reimbursed on July 8, 2010.

                       About Banco Sofisa

Banco Sofisa SA is a full service commercial bank.  The bank
specializes in credit for small to medium companies,
Banco operates branches throughout Brazil.

As of April 14, 2010, the bank continues to carry Moody's Ba1 Long
Term rating, LT Bank Deposits ratings, and Senior Unsecured Debt
rating.  The bank also carries Moody's D+ Bank Financial Rating.


CAIXA ECONOMICA: May Buy Stake in Credit-Card Company
-----------------------------------------------------
Caixa Economica Federal may buy a stake in a private credit-card
company to enter the business and sell to low-income consumers,
Laura Price at Bloomberg News reports, citing O Estado de S.
Paulo.  According to the report, the newspaper said that Caixa
Federal Chief Executive Officer Maria Fernanda Coelho said that
the Brazilian lender plans to announce a deal by the end of the
year.

The report, citing Estado, relates that Caixa Federal wants to
offer a credit card to compete with the Visa and MasterCard
brands.  According to the newspaper, the report says, one of Caixa
Federal options is Hipercard, the brand owned by Itau Unibanco
Holding SA.  The report relates Ms. Coelho also said that credit-
card interest rates are unlikely to fall "abruptly" in Brazil.

                         About Caixa Economica

Headquartered in Brasilia, Caixa Economica Federal --
http://www.caixa.gov.br/-- is a Brazilian bank and one of the
largest government-owned financial institutions in Latin America.
Founded in Jan. 12, 1861, Caixa Economica is the second biggest
Brazilian bank, second only to Banco do Brasil, and offers
services in thousands of Brazilian towns, ranking third in Brazil
in number of branches.  The company has more than 32 million
accounts and controls more than US$170 billion.  It is responsible
for executing policies in the areas of housing and basic
sanitation, the administration of social funds and programs and
federal lotteries.

                           *     *     *

As of June 29, 2010, the bank continues to carry Moody's "D+" bank
financial strength rating.


COMPANHIA SIDERURGICA: Hires Banks to Arrange Investor Meetings
---------------------------------------------------------------
Companhia Siderurgica Nacional S.A. hired Banco do Brasil SA,
HSBC Holdings Plc, Itau Unibanco Holding SA, Morgan Stanley and
Banco Santander SA to arrange meetings with bond investors,
Gabrielle Coppola at Bloomberg News reports, citing an unnamed
source.

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+.


JBS SA: Australia's Watchdog Comments on Rockdale Beef Acquisition
------------------------------------------------------------------
Australia's anti-trust regulator, ACCC, has outlined a number of
competition issues likely to arise should the proposed purchase of
Rockdale Beef Pty Ltd. by a unit of Brazil's JBS S.A. from its
Japanese owners proceed, Meat Trade News Daily reports.

According to the report, ACCC said in a statement that the
proposed purchase may raise concerns about competition to buy
different grades of cattle in a region from central New South
Wales into Victoria and could lead to increased market
concentration, and that barriers to entry to the feedlot business
are high.

JBS SA is one of the world's largest beef producers with
operations in Brazil, the United States, Argentina, Australia and
Italy.  The company is the largest producer and exporter of fresh
meat and meat by-products in Brazil, Argentina and Australian and
the third largest in the USA.

                           *     *     *

As of April 28, 2010, the company continues to carry Moody's "B1"
long term rating, long-term corporate family rating, and senior
unsecured debt rating.  The company also continues to carry
Standard and Poor's B+ issuer credit ratings.


TAM SA: Signs Codeshare Agreement With Continental Airlines
-----------------------------------------------------------
TAM SA and Continental Airlines will start on July 1, 2010, a
codeshare agreement on several routes within the United States,
Brazil and between the two countries.

"We are expanding our international network through this new
partnership with Continental Airlines.  With this, we can offer
more convenience and better services to our customers", says Paulo
Castello Branco, TAM Commercial and Planning Vice President.

"The codeshare agreement between Continental Airlines and TAM will
strengthen the relationship we established between the two
companies, when TAM came into the Star Alliance", said John
Slater, Continental Airlines vice president for Latin America and
the Caribbean.  "We expect to further consolidate our partnership
with TAM in the near future".

Since April 6, 2010, the airline holds a FFP (Frequent Flyer
Program) agreement with Continental Airlines.  This partnership
allows TAM Loyalty Program members to earn and redeem points on
any flight operated by the North-American company.  Likewise,
members of the Continental Airlines' OnePass program can earn 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 May 20, 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
==========================


AABAR SUKUK: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------
The creditors of AABAR Sukuk 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 9, 2010.

The company's liquidator is:

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


ALADDIN TALF: Shareholder to Receive Wind-Up Report on July 13
--------------------------------------------------------------
The shareholder of Aladdin Talf Offshore Fund Limited will
receive, on July 13, 2010, at 10:00 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Patrick Rosenfeld
         Telephone: (345) 815-1851
         Facsimile: (345) 949-9876


ALLIED FUND: Shareholder to Receive Wind-Up Report on July 11
-------------------------------------------------------------
The shareholder of Allied Fund Managers Limited will receive, on
July 11, 2010, at 12:00 noon, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815-1755
         Facsimile: (345) 949-9876


BACCHUS & ALKES: Shareholders to Hear Wind-Up Report on July 23
---------------------------------------------------------------
The shareholders of Bacchus & Alkes Holdings Inc. will receive, on
July 23, 2010, at 10:15 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


DEBAFU DEAL: Shareholders to Receive Wind-Up Report on July 23
--------------------------------------------------------------
The shareholders of Debafu Deal Limited will receive, on July 23,
2010, at 10:00 a.m., 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


DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------
The creditors of Diageo Funding Company 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:

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


DRAKE LONG: Shareholders to Hear Wind-Up Report on July 23
----------------------------------------------------------
The shareholders of The Drake Long Volatility Master Fund, Ltd.
will receive, on July 23, 2010, at 10:45 a.m., 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


EXPRESSWAY PARTNERS: Members to Hear Wind-Up Report on July 23
--------------------------------------------------------------
The shareholders of Expressway Partners, Ltd. will receive, on
July 23, 2010, at 10:30 a.m., 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


KITE IAM: Shareholders to Hear Wind-Up Report on July 28
--------------------------------------------------------
The shareholders of Kite IAM Limited will receive, on July 28,
2010, at 9:15 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         P.O. Box 1111, Grand Cayman KY1-1102
         Cayman Islands


OVERSEAS IAM: Shareholders to Hear Wind-Up Report on July 28
------------------------------------------------------------
The shareholders of Overseas IAM Limited will receive, on July 28,
2010, at 9:00 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         P.O. Box 1111, Grand Cayman KY1-1102
         Cayman Islands


PEQUOT EVENT: Shareholders to Receive Wind-Up Report on July 23
---------------------------------------------------------------
The shareholders of Pequot Event Driven Offshore Fund, Ltd. will
receive, on July 23, 2010, at 8:45 a.m., 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


PEQUOT EVENT: Shareholders to Receive Wind-Up Report on July 23
---------------------------------------------------------------
The shareholders of Pequot Event Driven Master Fund, Ltd. will
receive, on July 23, 2010, at 9:15 a.m., 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


PEQUOT NEW: Shareholders to Receive Wind-Up Report on July 23
-------------------------------------------------------------
The shareholders of Pequot New Vista Offshore Fund, Ltd. will
receive, on July 23, 2010, at 8:30 a.m., 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


PEQUOT NEW: Shareholders to Receive Wind-Up Report on July 23
-------------------------------------------------------------
The shareholders of Pequot New Vista Master Fund, Ltd. will
receive, on July 23, 2010, at 9:00 a.m., 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


PEQUOT SPINNAKER: Shareholders to Hear Wind-Up Report on July 23
----------------------------------------------------------------
The shareholders of Pequot Spinnaker Master Fund, Ltd. will
receive, on July 23, 2010, at 9:30 a.m., 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


PEQUOT SPINNAKER: Shareholders to Hear Wind-Up Report on July 23
----------------------------------------------------------------
The shareholders of Pequot Spinnaker Offshore Fund, Ltd. will
receive, on July 23, 2010, at 9:45 a.m., 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


PRUDENCE IAM: Shareholders to Hear Wind-Up Report on July 28
------------------------------------------------------------
The shareholders of Prudence IAM Limited will receive, on July 28,
2010, at 9:45 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         P.O. Box 1111, Grand Cayman KY1-1102
         Cayman Islands


SOUNDBITE DENTAL: Shareholders to Hear Wind-Up Report on July 26
----------------------------------------------------------------
The shareholders of Soundbite Dental Inc. will receive, on
July 26, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Jeffrey Noles
         c/o Maples and Calder, Attorneys-at-law
         PO Box 309, Ugland House
         Grand Cayman KY1-1104, Cayman Islands


SUNRISE CAPITAL: Shareholder Receives Wind-Up Report
----------------------------------------------------
The shareholder of Sunrise Capital Corporation received on
May 31, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

         David Preston
         Beverly Bernard
         c/o Isabel Mason
         Telephone: 345 949-7755
         Facsimile: 345 949-7634


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


FORUM HOTEL: UDC Makes Another Attempt to Sell Hotel
-----------------------------------------------------
The Urban Development Corporation has made another attempt to sell
Forum Hotel complex, RadioJamaica reports.  The report relates
that UDC has again advertised the property for sale.

According to the report, starting June 28, 2010, interested
parties can collect information packages on the property from the
UDC.  The report relates that September 30 is the deadline for the
submission of proposals.

RadioJamaica notes that the old Forum complex has been in a state
of disrepair since it ceased operating as a hotel more than 30
years ago.  The report recalls that an attempt was made a few
years ago to lease it for use as a health and education facility.

However, after seven years with no improvements to the property,
the UDC have decided to sell it, the report adds.

Forum Hotel complex is located in Portmore, St. Catherine.


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


FIRST BANCORP: Fitch Puts Issuer Default Rating on Negative Watch
-----------------------------------------------------------------
Fitch Ratings has placed the long-term Issuer Default Ratings of
First BanCorp on Rating Watch Negative and concurrently,
downgraded the ratings of its subsidiary, Firstbank Puerto Rico
and placed those ratings on Rating Watch Negative.

On June 4, 2010, FBP entered into a consent order with the Federal
Deposit Insurance Corporation and the Office of Commissioner of
Financial Institutions of Puerto Rico, as well as a written
agreement with the Federal Reserve Bank of New York based on its
finding during FBP's June 30, 2009 examination.  The order
specifies the need for changes in the company's credit risk and
administration area as well as liquidity and capital enhancements.
Regulators also increased the required minimum ratios in order to
be considered 'well-capitalized' to be implemented sometime in the
future and FBP must submit a capital plan to address its new
capital targets.  The new minimums were: Leverage of 8%, a Tier 1
Risk Based Capital of 10%, and Total RBC of 12%.  At June 30, 2009
and March 31, 2010, FBP was within the new required minimum
targets.

The Negative Watch incorporates Fitch's view that FBP will likely
require external capital support in the near-term given the high
level of credit costs that continue to erode its existing weak
level of tangible common equity which stood at just 2.74% at
March 31, 2010.  Although Fitch recognizes that FBP is in
compliance with the consent order's minimum capital requirements,
Fitch believes FBP needs to address the modest component of common
equity within its capital structure in order to provide cushion
for future losses.  At March 31, 2010, FBP's capital consists of
mainly hybrid instruments, including preferred stock totaling
$923 million (of which $400 million is related to commercial paper
program issuance) and $232 million in trust preferred securities.

The bank level downgrade reflects the continued weak operating
performance given the credit quality performance that has been
severely weakened due to real estate conditions in Puerto Rico and
the South Florida.  Although Firstbank's exposure to commercial
real estate and construction loans is reasonable when measured to
equity and total gross loans (202% and 22%, respectively, at
March 31, 2010), any problematic loans largely stem from these two
loan portfolios.  Additionally, the CRE and construction book
contains some relatively large relationships.  The bank continues
to operate with a high level of non-performing loans (NPLs/Total
Gross Loans was 14.90% at March 31, 2010, compared to 7.22% at
March 31, 2009).  Given these trends, Fitch expects further
provisioning will be required and believes net charge-offs will
continue to rise.  FBP's Texas Ratio defined as NPL/Tangible
Equity plus Loan loss reserves hit a high of 98.5% for March 31/10
compared to 43.72% same period a year ago.

The negative rating actions reflect the company's significant
operating challenges.  If FBP is unable to raise capital to cover
losses from its loan portfolio, the rating would like be
downgraded.  Resolution of the Rating Watch would hinge on
successful execution of the capital strategies that FBP is
exploring to improve its common equity: the issuance of
$500 million in equity, a rights offering to existing
shareholders, an exchange offer for its preferred stock to common
(relating to $550 million of outstanding preferred stock), and/or
an exchange offer to the U.S. Treasury for the preferred stock
($400 million outstanding) issued under CPP for common stock.

Additionally, if FBP's capital strategies include a form of
government support above or beyond the widely used government
programs and Fitch determines, in its view, that these actions
were necessary to continue to operate, Fitch could possibly
downgrade the Individual Rating to 'F', which would indicate a
bank that has either defaulted or, in Fitch's opinion, would have
defaulted if it had not received external support.

Fitch's rating actions are the result of a focused review of
Fitch's 'Master Global Financial Institutions Criteria' dated
Dec. 29, 2009.  This review concentrated in particular on credit
risk, capitalization, liquidity, and stress testing.  In
performing its analysis of Recovery Ratings, Fitch employed some
assumptions that were more conservative than those outlined in its
criteria 'Recovery Ratings for Financial Institutions' dated
Dec. 30, 2009.  Some of the recovery rates for certain loan
categories were assumed to be lower to reflect the current
distressed credit environment.

These ratings were placed on Rating Watch Negative

First BanCorp

  -- Long-term IDR at 'B-';
  -- Individual at 'D/E'.

FirstBank Puerto Rico

  -- Short-term IDR at 'B';
  -- Short-term Deposits at 'B'.

These ratings were downgraded and placed on Rating Watch Negative:

FirstBank Puerto Rico

  -- Long-term IDR to 'B-' from 'B';
  -- Long-term deposit obligations to 'B+/RR2 from 'BB-/RR2';
  -- Individual to 'D/E' from 'D';

These ratings remain unchanged:

First BanCorp

  -- Short-term IDR 'C';
  -- Support '5'
  -- Support floor 'NF'.

FirstBank Puerto Rico

  -- Support '5'.
  -- Support floor 'NF'.


HERIBERTO SANTIAGO: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Heriberto Nunez Santiago
        dba HN Construction
        805 Ave Munoz Rivera
        PMB 1521
        Penuelas, PR 00624

Bankruptcy Case No.: 10-05551

Chapter 11 Petition Date: June 23, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Modesto Bigas Mendez, Esq.
                  Bigas & Bigas
                  P.O. Box 7462
                  Ponce, PR 00732
                  Tel: (787) 844-1444
                  E-mail: modesto@coqui.net

Scheduled Assets: $768,100

Scheduled Debts: $1,849,085

A list of the Company's 6 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb10-05551.pdf

The petition was signed by Heriberto Nunez Santiago.


===============================
T R I N I D A D  &  T O B A G O
===============================


CL FINANCIAL: Cabinet to Receive Restructuring Report Soon
----------------------------------------------------------
Trinidad and Tobago Finance Minister Winston Dookeran said that
reports on CL Financial Limited and its subsidiary insurance
company CLICO will be submitted to the Cabinet soon, Trinidad
Express reports.  The Express relates the report outlines plans to
save CLICO.

According to the report, Mr. Dookeran appointed a team to look
into CL Financial's accounts.  The Express relates that the team
comprises former CL financial Chief Executive Steve Bideshi,
former finance minister Wendell Mottley and executive chairman of
Ernst and Young Colin Soo Ping Chow.

Mr. Dookeran, the Express notes, said that the report will be
examined as the Finance Ministry makes preparations for national
budget.  "We have stated the process for budget preparation, and
we have invited all of the relevant ministries to submit their
proposals and that is being done at the moment.  We will shortly
have some public sessions, what we call an interactive session,
with the interest groups in the country and individuals to seek
their input into the process," the Express quoted Mr. Dookeran as
saying.

                       About CL Financial

CL Financial Limited is the largest privately held conglomerate in
Trinidad and Tobago and one of the largest privately held
corporations in the entire Caribbean.  Founded as an insurance
company, Colonial Life Insurance Company (CLICO) by Cyril Duprey,
it was expanded into a diversified company by his nephew, Lawrence
Duprey.  CL Financial is now one of the largest local
conglomerates in the region, encompassing over 65 companies in 32
countries worldwide with total assets standing at roughly US$100
billion.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Central Bank
Governor Ewart Williams disclosed that an examination of insurance
company CLICO, dissolved finance house CLICO Investment Bank and
other CL Financial companies showed a deficit between US$6
billion and US$8 billion.  Tobago President George Maxwell
Richards, The Express related, signed bailout bills for CL
Financial, giving the government the authority to control the
company's unit, Colonial Life Insurance Company, and giving the
central bank extensive powers to treat with CL Financial's
collapse and the consequent systemic crisis.


========================================
T U R K S  &  C A I C O S  I S L A N D S
========================================


OLINT CORP: TCI Supreme Court Begins Fraud Case Hearing
-------------------------------------------------------
The Supreme Court in the Turks and Caicos Islands began hearing
the fraud case involving former Olint Corp. Limited boss David
Smith starting June 28, 2010.  The report relates that the case
was transferred last month from a Turks and Caicos Resident
Magistrate's Court.

According to the report, Mr. Smith's attorney, Oliver Smith told
the Financial Report that his client will answer to the charges
brought against him.

As reported in the Troubled Company Reporter-Latin America on
October 16, 2009, RadioJamaica said that Mr. Smith was put to jail
in the Turks and Caicos Islands, after being arrested on
September 28 in the neighboring Caribbean territory.  According to
a TCRLA report on June 16, 2009, citing Caribbean Net News, said
Florida resident Christopher Walker sued the several parties for
their involvement in (OLINT)'s operations.  The report related Mr.
Walker, who is claiming that he was defrauded in the company's
"get-rich-quick scheme", is seeking US$2.4 million in damages.

                       About Olint Corp.

Olint Corp. Limited is an investment scheme based in Jamaica.
It has operations in Turks & Caicos and the U.S.  It has been
facing legal problems since 2006 when the Financial Services
Commission served a cease-and-desist order on the firm.  On
Dec. 24, 2007, the court ruled that the operations of Olint
breached provisions of the Securities Act.  The firm had been
dealing in securities and engaging in the participation of a
profit-sharing agreement, issuing investment contracts, and
providing advice to potential investors without licenses and
registration.  Olint appealed the ruling and was granted a stay of
execution of the cease-and-desist order until the appeal was heard
in February 2008.  In May 2008, the National Commercial Bank
Jamaica Limited attempted to close three Olint accounts in the
bank.  However, Olint secured an injunction from the court barring
the National Commercial from closing the accounts.  Olint has
suspended payments to its members since early this year.


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


PETROLEOS DE VENEZUELA: Venezuela Issues More Arrest Warrants
-------------------------------------------------------------
Venezuelan Attorney General Luisa Ortega said that two more arrest
warrants have been issued in a month-old scandal over at least
70,000 tons of rotten food discovered abandoned at government-run
warehouses, Dan Molinski at Dow Jones Newswires reports.  The
report relates that three people have already been arrested and
jailed in the case.

According to the report, the rotten food, including milk, meat and
sugar, was found by investigators inside at least 2,300 shipping
containers at several warehouses run by PDVAL, a firm created two
years ago by state oil firm Petroleos de Venezuela, to import and
distribute discounted food.  The report notes that the highest-
ranking official to have been arrested is Luis Pulido, a former
president of PDVAL and current board member of PDVSA.

Dow Jones Newswires notes that Ms. Ortega refused to identify the
two people with new arrest warrants against them, saying the
government wants to capture them first.  The investigation into
the case remains ongoing, she added.

PDVSA President Rafael Ramirez, the report relates, suggested that
in 2008, fearing nationwide food shortages, PDVAL began purchasing
far more imported food than it could possibly receive and
distribute in a timely fashion.  The report says that some have
called for Mr. Ramirez to be fired over the scandal as PDVAL is a
subsidiary of PDVSA.  Venezuela President Chavez quickly defended
Ramirez, but on June 6 announced PDVAL was being taken away from
PDVSA, and would now be controlled by the vice president's office,
the report adds.

                            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.


PETROLEOS DE VENEZUELA: To Renegotiate Contracts to Reduce Costs
----------------------------------------------------------------
Petroleos de Venezuela plans both to continue supporting the first
socialist plan, which ends in 2013, and make some adjustments in
core activities, Mayela Armas H. at El Universal News reports.

According to the report, in its 2009 Annual Report and Accounts,
PDVSA provides the guidelines for 2010.  The report relates that
among the company's priorities this year is "the renegotiation of
contracts related to core activities and the reduction of
operating costs."  PDVSA's report, EL Universal notes, said that
in order to adjust production costs, the organizational structures
will be reviewed and adapted to the current situation facing both
the company and the country and the environment.

PDVSA, El Universal states, expects to renegotiate the contracts
of core activities such as drilling, well services and
construction of production lines.

El Universal notes that according to the guidelines, another
PDVSA's goal this year is to implement legal proceedings through
actions seeking protection of constitutional rights, and with the
support of current legislation "to ensure access to funds required
for the operational continuity of oil rigs."  One of the key
aspects PDVSA intends to address throughout this period is
electricity supply, EL Universal adds.

                           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.


==========================
V I R G I N  I S L A N D S
==========================


CABLE & WIRELESS: LIME BVI Taps Sean Auguste as General Manager
---------------------------------------------------------------
Cable & Wireless plc's LIME in British Virgin Islands has
appointed Sean Auguste as its new general manager effective
July 1, 2010, Virgin Islands Platinum News reports.  The report
relates that Mr. Auguste is the current General Manager for LIME
St. Lucia.

According to the report, Mr. Auguste brings a vast wealth of
experience to his new role, having been with Cable & Wireless/LIME
for the past 22 years.  The report notes that in his new role as
General Manager of the LIME BVI business Mr. Auguste is charged
with the development and execution of business strategies geared
towards the continued growth of the company, the fostering of
greater efficiencies and the enhancement the overall customer
experience.  "I feel proud and gratified that I have been given
this opportunity to join the LIME BVI team and look forward to
working with my colleagues to serve the needs of our customers,"
the report quoted Mr. Auguste as saying.  "It's another great
opportunity to broaden my professional experience and share my
knowledge and skills with other members of the LIME family and
also to learn from them," he added.

                            About LIME

LIME (Landline, Internet, Mobile, Entertainment), is a
communications provider owned by the British based Cable &
Wireless Communications plc operating in Anguilla, Antigua &
Barbuda, Barbados, British Virgin Islands, Cayman Islands,
Dominica, Grenada, Jamaica, Montserrat, St. Kitts & Nevis, St.
Lucia, St. Vincent & the Grenadines and Turks & Caicos in the
Caribbean.

                     About Cable & Wireless

Headquartered in London, England, Cable & Wireless plc --
http://www.cw.com/-- is an international telecommunications
company.  The Company offers mobile, broadband and domestic and
international fixed line services to homes, small and medium-sized
enterprises, corporate customers and governments.  It operates in
39 countries through four major operations in the Caribbean,
Panama, Macau and Monaco & Islands.  It operates through two
businesses: International and Europe, Asia & US.  Its
International business operates full service telecommunications
companies through four major operations in the Caribbean, Panama,
Macau and Monaco and Islands.  Its Europe, Asia & US provides
enterprise and carrier solutions to the largest users of telecom
services across the United Kingdom, continental Europe, Asia and
the United States.  Its subsidiaries include Cable & Wireless UK,
Cable & Wireless Jamaica Ltd, Cable & Wireless Panama, SA, Cable &
Wireless (Barbados) Ltd and Monaco Telecom SAM.

According to Bloomberg data, Cable & Wireless plc continues to
carry Moody's "Ba3"long-term corporate family rating, "B1" senior
unsecured debt rating and "Ba3"probability of default rating with
a stable outlook.  The company continues to Standard & Poor's "BB-
"long-term foreign and local issuer credit ratings and "B" short-
term foreign and local issuer credit ratings.


                            ***********

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 * * *