/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/101115.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 Monday, November 15, 2010, Vol. 11, No. 225 Headlines A R G E N T I N A E-TAO: Creditors' Proofs of Debt Due February 11 MANASO SRL: Creditors' Proofs of Debt Due December 2 PELOSO SRL: Creditors' Proofs of Debt Due December 10 B E R M U D A CLAREVILLE CAPITAL: Creditors' Proofs of Debt Due November 17 CLAREVILLE CAPITAL: Members' Final Meeting Set for December 8 GLOBAL CROSSING: Moody's Assigns 'Caa2' Rating to Senior Notes LEHIGH ENTERPRISES: Creditors' Proofs of Debt Due November 18 LEHIGH ENTERPRISES: Member to Receive Wind-Up Report on Dec. 3 C A Y M A N I S L A N D S ALLIANCE: Shareholders' Final Meeting Set for November 30 ALPHA MEZZ: Shareholders' Final Meeting Set for November 30 AS FOUR: Creditors' Proofs of Debt Due December 8 AS PORTSQUARE: Creditors' Proofs of Debt Due December 8 BANK VONTOBEL: Shareholders' Final Meeting Set for November 16 BENSON ELLIOT: Members' Final Meeting Set for November 23 BUKHATIR INVESTMENTS: Creditors' Proofs of Debt Due December 8 CORAL BAY: Members' Final Meeting Set for November 26 DELFINO 15: Creditors' Proofs of Debt Due November 19 GREAT OAKS: Shareholder to Hear Wind-Up Report on November 16 HALMORE OVERSEAS: Commences Liquidation Proceedings JADE GLOBAL: Creditors' Proofs of Debt Due December 10 PSO TRADING: Creditors' Proofs of Debt Due December 9 PSO TRADING: Creditors' Proofs of Debt Due December 9 PSO TRADING: Creditors' Proofs of Debt Due December 9 REVEILLE CAPITAL: Shareholders' Final Meeting Set for November 25 VIVID BLUE: Creditors' Proofs of Debt Due November 19 VTC DIRECTOR: Shareholders' Final Meeting Set for November 16 VONTOBEL TRUST: Shareholders' Final Meeting Set for November 16 ZAIS MATRIX: Creditors' Proofs of Debt Due November 29 M E X I C O MEXICANA AIRLINE: PC Capital Is Best Hope for Resuscitation MEXICANA AIRLINE: American Air Picks Up Former Flights MEXICANA AIRLINES: Not Returning to Fresno X X X X X X X X * BOND PRICING: For the Week November 8 to November 12, 2010 - - - - - ================= A R G E N T I N A ================= E-TAO: Creditors' Proofs of Debt Due February 11 ------------------------------------------------ Susana Mabel Costa, the court-appointed trustee for E-TAO SA's bankruptcy proceedings, will be verifying creditors' proofs of claim until February 11, 2010. Ms. Costa 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. MANASO SRL: Creditors' Proofs of Debt Due December 2 ---------------------------------------------------- Hugo D'Ubaldo, the court-appointed trustee for Manaso SRL's bankruptcy proceedings, will be verifying creditors' proofs of claim until December 2, 2010. Mr. D'Ubaldo will present the validated claims in court as individual reports. The National Commercial Court of First Instance No. 10 in Buenos Aires, with the assistance of Clerk No. 19, 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: Hugo D'Ubaldo Tucuman 1577 Argentina PELOSO SRL: Creditors' Proofs of Debt Due December 10 ----------------------------------------------------- Eduardo Hugo Caggiano, the court-appointed trustee for Peloso SRL's bankruptcy proceedings, will be verifying creditors' proofs of claim until December 10, 2010. Mr. Caggiano will present the validated claims in court as individual reports. The National Commercial Court of First Instance No. 26 in Buenos Aires, with the assistance of Clerk No. 52, 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: Eduardo Hugo Caggiano San Martin 66 Argentina ============= B E R M U D A ============= CLAREVILLE CAPITAL: Creditors' Proofs of Debt Due November 17 ------------------------------------------------------------- The creditors of Clareville Capital Shackleton Fund Limited are required to file their proofs of debt by November 17, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 29, 2010. The company's liquidator is: Robin J. Mayor Clarendon House 2 Church Street, Hamilton HM 11 Bermuda CLAREVILLE CAPITAL: Members' Final Meeting Set for December 8 ------------------------------------------------------------- The members of Clareville Capital Shackleton Fund Limited will hold their final meeting on December 8, 2010, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company commenced wind-up proceedings on October 29, 2010. The company's liquidator is: Robin J. Mayor Clarendon House 2 Church Street, Hamilton HM 11 Bermuda GLOBAL CROSSING: Moody's Assigns 'Caa2' Rating to Senior Notes -------------------------------------------------------------- Moody's Investors Service assigned a Caa2 rating to Global Crossing Limited's new $150 million 8-year senior unsecured notes due 2019. Since the new notes effectively replace $144 million of convertible notes due in early 2011, the transaction is neutral to Global Crossing's credit profile. Accordingly, the company's B3 corporate family and probability of default ratings were affirmed. Further, since the new notes replace the loss absorption capacity ranking behind the company's $750 million of senior secured notes (currently provided by the convertible notes), the senior secured notes' B2 ratings were also affirmed. As well, since the transaction allows the company's substantial cash position to be maintained, the existing SGL-2 speculative grade liquidity rating (indicating good liquidity arrangements) was also affirmed. Ratings Rationale Moody's rates another entity in the Global Crossing family, Global Crossing (UK) Finance plc (GCUK; B3 Stable). The transactions have no ratings impact on GCUK. Global Crossing's B3 ratings are influenced primarily by the company's participation in a highly competitive telecommunications arena, its relatively poor EBITDA margins, limited free cash generating capacity, and significant debt load. The combination implies relatively weak interest coverage and debt repayment capacity. The rating also accounts for the company's unique network footprint and solid internet protocol (IP) product offering together with the expectation that demand for IP-based broadband capacity will continue to grow and cause the company's cash flow stream to expand. However, while Moody's expect the cash flow stream to expand, Moody's also expect that various growth initiatives -- organic and inorganic -- will likely limit free cash generation and debt repayment capacity. The rating also anticipates that the company will continue to maintain good liquidity via a large cash balance to assure its ability to weather short term shocks and minimize refinance risk. In this regard, Moody's view the new senior unsecured notes issue as maintaining the company's cash pool and resulting financial flexibility. While the cash may be used to ultimately initiate the refinance of GCUK's debt at the Global Crossing level -- something Moody's would view as a positive action -- there is also the potential of the cash being used to fund acquisitions or returns to shareholders. With the company having only a tentative ability to be free cash flow positive, Moody's would view a return of capital as adversely affecting Moody's ratings assessment. And since Global Crossing has limited experience making material acquisitions and telecommunications acquisitions are notoriously difficult to successfully integrate, Moody's would take a very cautious perspective on material acquisition activity. This summarizes Global Crossing's ratings and the rating actions: Assignments: Issuer: Global Crossing Limited -- Senior Unsecured Regular Bond/Debenture, Assigned Caa2 (LGD5, 84%) Other Rating/Outlook Actions: -- Corporarte Family Rating, Affirmed at B3 -- Probability of Default Rating, Affirmed at B3 -- Speculative Grade Liquidity Rating, Affirmed at SGL-2 -- Senior Secured Regular Bond/Debenture, Affirmed at B2 with the loss given default assessment revised to (LGD3, 33%) from (LGD3, 35%) -- Outlook, Unchanged at Stable Moody's most recent rating action for GCL was December 16, 2009, when, among other things, the company's CFR and PDR were upgraded to B3 from Caa1. Rating Outlook Upwards rating migration is likely to be most influenced by margin expansion that, in turn, could fuel free cash flow, while downwards ratings migration would most likely result from adverse liquidity developments. Since Moody's do not expect either of these parameters to change significantly over the ratings horizon, the ratings outlook is stable. What Could Change the Rating -- Up Together with favorable macroeconomic conditions, stable or positive developments at GCUK and GC Impsat, and with the support of good liquidity arrangements, positive ratings pressure could develop with margin expansion and continued cash flow self- sustainability progress. This would be reflected in FCF/TD migrating towards 5% and (EBITDA-CapEx)/IntExp migrating towards 1.5x (in both cases, on a sustained basis measured with Moody's standard adjustments). What Could Change the Rating -- Down Conversely, should the company's progress falter, or should liquidity be eroded or should potential support/value from subsidiary operations deteriorate, the ratings could come under downwards pressure. Failure to demonstrate cash flow self- sustainability with FCF/TD > 0% and (EBITDA-CapEx)/IntExp > 1.0x would be quantitative evidence of this (in both cases, on a sustained basis measured with Moody's standard adjustments). Headquartered in Hamilton, Bermuda and with administrative offices in Florham Park, New Jersey, Global Crossing Limited offers Internet Protocol and legacy telecommunications services in most major business centers in the world. LEHIGH ENTERPRISES: Creditors' Proofs of Debt Due November 18 ------------------------------------------------------------- The creditors of Lehigh Enterprises Limited are required to file their proofs of debt by November 18, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on November 2, 2010. Ernest Morrison of Cox Hallett Wilkinson is the company's liquidator. LEHIGH ENTERPRISES: Member to Receive Wind-Up Report on Dec. 3 -------------------------------------------------------------- The sole member of Lehigh Enterprises Limited will receive on December 3, 2010, at 10:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company commenced wind-up proceedings on November 2, 2010. Ernest Morrison of Cox Hallett Wilkinson is the company's liquidator. ========================== C A Y M A N I S L A N D S ========================== ALLIANCE: Shareholders' Final Meeting Set for November 30 --------------------------------------------------------- The shareholders of Alliance Collateralized Holdings Ltd. will hold their final meeting on November 30, 2010, at 11:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Jess Shakespeare c/o Maples Finance Limited PO Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands ALPHA MEZZ: Shareholders' Final Meeting Set for November 30 ----------------------------------------------------------- The shareholders of Alpha Mezz CDO 2007-1, Ltd. will hold their final meeting on November 30, 2010, at 10:40 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Jess Shakespeare c/o Maples Finance Limited PO Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands AS FOUR: Creditors' Proofs of Debt Due December 8 ------------------------------------------------- The creditors of AS Four Holdings Inc. are required to file their proofs of debt by December 8, 2010, to be included in the company's dividend distribution. The company commenced liquidation proceedings on October 18, 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 AS PORTSQUARE: Creditors' Proofs of Debt Due December 8 ------------------------------------------------------- The creditors of AS Portsquare Holdings Inc. are required to file their proofs of debt by December 8, 2010, to be included in the company's dividend distribution. The company commenced liquidation proceedings on October 18, 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 BANK VONTOBEL: Shareholders' Final Meeting Set for November 16 -------------------------------------------------------------- The shareholders of Bank Vontobel Cayman will hold their final meeting on November 16, 2010, at 11:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. Russell Smith is the company's liquidator. BENSON ELLIOT: Members' Final Meeting Set for November 23 --------------------------------------------------------- The members of Benson Elliot Real Estate Finance II Ltd will hold their final meeting on November 23, 2010, to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: CDL Company Ltd. P.O. Box 31106, Grand Cayman KY1-1205 Cayman Islands BUKHATIR INVESTMENTS: Creditors' Proofs of Debt Due December 8 -------------------------------------------------------------- The creditors of Bukhatir Investments Sukuk Company Limited are required to file their proofs of debt by December 8, 2010, to be included in the company's dividend distribution. The company commenced liquidation proceedings on October 18, 2010. The company's liquidator is: Walkers Corporate Services Limited c/o Anthony Johnson Telephone: (345) 914-6314 Walker House, 87 Mary Street George Town Grand Cayman, KY1-9005 Cayman Islands CORAL BAY: Members' Final Meeting Set for November 26 ----------------------------------------------------- The members of Coral Bay Leasing & Finance Limited will hold their final meeting on November 26, 2010, at 12:00 noon, to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Bernard McGrath 69 Dr. Roy's Drive PO Box 1043, George Town Grand Cayman KY1-1102 Cayman Islands DELFINO 15: Creditors' Proofs of Debt Due November 19 ----------------------------------------------------- The creditors of Delfino 15 International Ltd. are required to file their proofs of debt by November 19, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 19, 2010. The company's liquidator is: MBT Trustees Ltd. Telephone: 945-8859 Facsimile: 949-9793/4 P.O. Box 30622, Grand Cayman KY1-1203 Cayman Islands GREAT OAKS: Shareholder to Hear Wind-Up Report on November 16 ------------------------------------------------------------- The sole shareholder of Great Oaks Indemnity, Ltd. will hear on November 16, 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: Steve C. Taylor c/o Global Captive Management Ltd. Governor's Square Building 3, 2nd Floor 23 Lime Tree Bay Avenue PO Box 1363 Grand Cayman KY1-1108 Cayman Islands Telephone: (345) 949 7966 HALMORE OVERSEAS: Commences Liquidation Proceedings --------------------------------------------------- On October 18, 2010, the sole shareholder of Halmore Overseas Holding Ltd. resolved to voluntarily liquidate the company's business. The company's liquidator is: Andreas Gilgen c/o Stephen R. Nelson Telephone: 949-4544 Facsimile: 949-8460 Charles Adams Ritchie & Duckworth Zephyr House, 122 Mary Street PO Box 709, Grand Cayman KY1-1107 Cayman Islands JADE GLOBAL: Creditors' Proofs of Debt Due December 10 ------------------------------------------------------ The creditors of Jade Global Investments Limited are required to file their proofs of debt by December 10, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 11, 2010. The company's liquidator is: Antony Christopher Hind c/o Monika Mielczarek Telephone: +44 (0) 1534 672543 Facsimile: +44 (0) 1534 672425 1 Grenville Street, St Helier Jersey, JE2 3QP Channel Islands PSO TRADING: Creditors' Proofs of Debt Due December 9 ----------------------------------------------------- The creditors of PSO Trading I, Ltd. are required to file their proofs of debt by December 9, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 7, 2010. The company's liquidators are: Abraham Pfeiffer Daniel Priestley Telephone: (345) 946 1577 Facsimile: (345) 947 0826 c/o PA Corporate Services Limited PO Box 30310, Grand Cayman KY1-1102 Cayman Islands PSO TRADING: Creditors' Proofs of Debt Due December 9 ----------------------------------------------------- The creditors of PSO Trading II, Ltd. are required to file their proofs of debt by December 9, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 7, 2010. The company's liquidators are: Abraham Pfeiffer Daniel Priestley Telephone: (345) 946 1577 Facsimile: (345) 947 0826 c/o PA Corporate Services Limited PO Box 30310, Grand Cayman KY1-1102 Cayman Islands PSO TRADING: Creditors' Proofs of Debt Due December 9 ----------------------------------------------------- The creditors of PSO Trading III, Ltd. are required to file their proofs of debt by December 9, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 7, 2010. The company's liquidators are: Abraham Pfeiffer Daniel Priestley Telephone: (345) 946 1577 Facsimile: (345) 947 0826 c/o PA Corporate Services Limited PO Box 30310, Grand Cayman KY1-1102 Cayman Islands REVEILLE CAPITAL: Shareholders' Final Meeting Set for November 25 ----------------------------------------------------------------- The shareholders of Reveille Capital Fund, Ltd. will hold their final meeting on November 25, 2010, at 10:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Reid Services Limited Clifton House 75 Fort Street PO Box 1350, Grand Cayman KY1-1108 Cayman Islands VIVID BLUE: Creditors' Proofs of Debt Due November 19 ----------------------------------------------------- The creditors of Vivid Blue Ltd. are required to file their proofs of debt by November 19, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 19, 2010. The company's liquidator is: MBT Trustees Ltd. Telephone: 945-8859 Facsimile: 949-9793/4 P.O. Box 30622, Grand Cayman KY1-1203 Cayman Islands VTC DIRECTOR: Shareholders' Final Meeting Set for November 16 ------------------------------------------------------------- The shareholders of VTC Director Services will hold their final meeting on November 16, 2010, at 10:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. Russell Smith is the company's liquidator. VONTOBEL TRUST: Shareholders' Final Meeting Set for November 16 --------------------------------------------------------------- The shareholders of Vontobel Trust Company Cayman will hold their final meeting on November 16, 2010, at 10:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. Russell Smith is the company's liquidator. ZAIS MATRIX: Creditors' Proofs of Debt Due November 29 ------------------------------------------------------ The creditors of Zais Matrix VI-D Ltd. are required to file their proofs of debt by November 29, 2010, to be included in the company's dividend distribution. The company commenced wind-up proceedings on October 15, 2010. The company's liquidator is: Ogier c/o Danielle Walker Telephone: (345) 815-1880 Facsimile: (345) 949-9877 c/o Ogier 89 Nexus Way Camana Bay Grand Cayman KY1-9007 Cayman Islands =========== M E X I C O =========== MEXICANA AIRLINE: PC Capital Is Best Hope for Resuscitation ----------------------------------------------------------- PC Capital is the best bet to refloat Compania Mexicana de Aviacion or Mexicana Airlines, once a top national air carrier and now in bankruptcy protection, Agence France Presse reports, citing the airline. "The restructuring deal that gives the greatest viability, stability and sustainability in the long, medium and short terms is PC Capital's," the report quoted Mexicana Administrator Javier Christlieb and government mediator Gerardo Badin in a statement. PC Capital, an investment firm, did not immediately respond to AFP's request for details on the deal. Compania Mexicana de Aviacion or Mexicana Airlines -- http://www.mexicana.com/-- is a privately held airline and a subsidiary of Nuevo Grupo Aeronautico. Founded in 1921, Mexicana is the oldest commercial carrier in North America. Charles Lindbergh piloted the first trip for Mexicana between Brownsville, Texas, and Mexico City. Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and Mexicana Inter S.A. de C.V. (Mexicana Link). Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's largest airline, filed for bankruptcy in the U.S. and Mexico on August 2, 2010. In the U.S., the company filed in the U.S. Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection (case no. 10-14182), and in Mexico, it filed for the equivalent of Chapter 11. Maru E. Johansen, foreign representative of Compania Mexicana, estimated in the Chapter 15 petition that the company has assets of US$500 million to US$1 billion and debts of more than US$1 billion. William C. Heuer, Esq., at Duane Morris LLP, serves as counsel to Ms. Johansen. Mexicana de Aviacion stated that despite its bankruptcy filing, it expects to continue to operate normally, and that such filings Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines Bankruptcy News. The newsletter tracks the chapter 11 proceedings and the ancillary proceedings undertaken by Compania Mexicana de Aviacion and its units. (http://bankrupt.com/newsstand/or 215/945-7000). MEXICANA AIRLINE: American Air Picks Up Former Flights ------------------------------------------------------ The Log reports that American Airlines has taken over most of the flights that Compania Mexicana de Aviacion or Mexicana Airlines dropped last month. According to the report, American flies out of Los Angeles International Airport -- and eight other West Coast cities, plus four airports in Arizona. Compania Mexicana de Aviacion or Mexicana Airlines -- http://www.mexicana.com/-- is a privately held airline and a subsidiary of Nuevo Grupo Aeronautico. Founded in 1921, Mexicana is the oldest commercial carrier in North America. Charles Lindbergh piloted the first trip for Mexicana between Brownsville, Texas, and Mexico City. Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and Mexicana Inter S.A. de C.V. (Mexicana Link). Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's largest airline, filed for bankruptcy in the U.S. and Mexico on August 2, 2010. In the U.S., the company filed in the U.S. Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection (case no. 10-14182), and in Mexico, it filed for the equivalent of Chapter 11. Maru E. Johansen, foreign representative of Compania Mexicana, estimated in the Chapter 15 petition that the company has assets of US$500 million to US$1 billion and debts of more than US$1 billion. William C. Heuer, Esq., at Duane Morris LLP, serves as counsel to Ms. Johansen. Mexicana de Aviacion stated that despite its bankruptcy filing, it expects to continue to operate normally, and that such filings Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines Bankruptcy News. The newsletter tracks the chapter 11 proceedings and the ancillary proceedings undertaken by Compania Mexicana de Aviacion and its units. (http://bankrupt.com/newsstand/or 215/945-7000). MEXICANA AIRLINES: Not Returning to Fresno ------------------------------------------ KFSN reports that Compania Mexicana de Aviacion or Mexicana Airlines will not be coming back to Fresno after all. According to the report, Fresno Yosemite International Airport officials confirmed that the bankrupt carrier does not intend to make Fresno one of its stops. Mexicana Airline, the report notes, earlier this week said that it's working on a financial plan that would reinstate 30 flights. The report relates that's about a quarter of its prior fleet. Even though Mexicana won't be returning, airport officials are still actively working on bringing in other Mexican carriers, the report adds. Compania Mexicana de Aviacion or Mexicana Airlines -- http://www.mexicana.com/-- is a privately held airline and a subsidiary of Nuevo Grupo Aeronautico. Founded in 1921, Mexicana is the oldest commercial carrier in North America. Charles Lindbergh piloted the first trip for Mexicana between Brownsville, Texas, and Mexico City. Grupo Mexicana de Aviacion is the parent of Compania Mexicana. Two other units are Aerovias Caribe S.A. de C.V. (Mexicana Click) and Mexicana Inter S.A. de C.V. (Mexicana Link). Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's largest airline, filed for bankruptcy in the U.S. and Mexico on August 2, 2010. In the U.S., the company filed in the U.S. Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection (case no. 10-14182), and in Mexico, it filed for the equivalent of Chapter 11. Maru E. Johansen, foreign representative of Compania Mexicana, estimated in the Chapter 15 petition that the company has assets of US$500 million to US$1 billion and debts of more than US$1 billion. William C. Heuer, Esq., at Duane Morris LLP, serves as counsel to Ms. Johansen. Mexicana de Aviacion stated that despite its bankruptcy filing, it expects to continue to operate normally, and that such filings Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines Bankruptcy News. The newsletter tracks the chapter 11 proceedings and the ancillary proceedings undertaken by Compania Mexicana de Aviacion and its units. (http://bankrupt.com/newsstand/or 215/945-7000). =============== X X X X X X X X =============== * BOND PRICING: For the Week November 8 to November 12, 2010 ------------------------------------------------------------ Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- ARGENTINA --------- ARGENT- DIS 5.83 12/31/2033 ARS 44.75 ARGENT-PAR 1.18 12/31/2038 ARS 92.5 ARGENT-?DIS 4.33 12/31/2033 JPY 42 ARGENT-?PAR&GDP 0.45 12/31/2038 JPY 8 BOGAR 2018 2 2/4/2018 ARS 38.5 PRO12 2 1/3/2016 ARS 128 CAYMAN ISLAND ------------- BANCO BPI (CI) 4.15 11/14/2035 EUR 64.438 BANIF FIN LTD 3 12/31/2019 EUR 62.625 BCP FINANCE CO 4.239 EUR 70.03409 BCP FINANCE CO 5.543 EUR 73.9 BES FINANCE LTD 5.58 EUR 70.97254 BES FINANCE LTD 6.984 2/7/2035 EUR 63.42565 DUBAI HLDNG COMM 6 2/1/2017 GBP 72.76823 EFG ORA FUNDING 1.7 10/29/2014 EUR 69.19499 ESFG INTERNATION 5.753 EUR 72.95357 PUBMASTER FIN 6.962 6/30/2028 GBP 66.3868 SHINSEI FIN CAYM 6.418 USD 70.96576 SHINSEI FINANCE 7.16 USD 69 CHILE ----- AGUAS NUEVAS 3.4 5/15/2012 CLP 1.6304 ESVAL S.A. 3.8 7/15/2012 CLP 49.87821 MASISA 4.25 10/15/2012 CLP 38.11955 PUERTO RICO ----------- PUERTO RICO CONS 6.5 4/1/2016 USD 42.625 VENEZUELA --------- PETROLEOS DE VEN 4.9 10/28/2014 USD 64.07045 PETROLEOS DE VEN 5 10/28/2015 USD 59.16499 PETROLEOS DE VEN 5.125 10/28/2016 USD 56.62819 PETROLEOS DE VEN 5.25 4/12/2017 USD 58.64957 PETROLEOS DE VEN 5.375 4/12/2027 USD 48.34653 PETROLEOS DE VEN 5.5 4/12/2037 USD 46.57195 PETROLEOS DE VEN 8.5 11/2/2017 USD 70.08081 VENEZUELA 5.75 2/26/2016 USD 70.25 VENEZUELA 6 12/9/2020 USD 59.5 VENEZUELA 7 12/1/2018 USD 67 VENEZUELA 7 3/31/2038 USD 56.5 VENEZUELA 7 3/31/2038 USD 55.85 VENEZUELA 7.65 4/21/2025 USD 60.25 VENEZUELA 7.75 10/13/2019 USD 67 VENEZUELA 8.25 10/13/2024 USD 64.5 VENEZUELA 9 5/7/2023 USD 68.25 VENEZUELA 9.25 9/15/2027 USD 72.875 VENEZUELA 9.25 5/7/2028 USD 67.25 VENEZUELA 9.25 9/15/2027 USD 72.85 VENZOD - 189000 9.375 1/13/2034 USD 67.25 *********** 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. Agravante, 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 * * *