/raid1/www/Hosts/bankrupt/TCRLA_Public/101116.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, November 16, 2010, Vol. 11, No. 226
Headlines
A R G E N T I N A
COSQUEV SRL: Creditors' Proofs of Debt Due December 7
DMG SA: Creditors' Proofs of Debt Due April 18
EQUITY TRUST: Moody's Rates Debt Securities and Certificates
ESTABLECIMIENTO: Creditors' Proofs of Debt Due February 25
B E R M U D A
F-TWO DERIVATIVES: Creditors' Proofs of Debt Due November 19
F-TWO DERIVATIVES: Members' Final Meeting Set for December 10
FUSION CAPITAL: Creditors' Proofs of Debt Due November 23
FUSION CAPITAL: Members' Final Meeting Set for December 7
INTERNATIONAL ASSURANCE: Creditors' Proofs of Debt Due November 19
INTERNATIONAL ASSURANCE: Members' Final Meeting Set for December 7
KAM2 FINANCE: Creditors' Proofs of Debt Due November 19
KAM2 FINANCE: Members' Final Meeting Set for December 10
MG MARINE: Creditors' Proofs of Debt Due November 19
MG MARINE: Members' Final Meeting Set for December 10
PALMETTO PROPERTIES: Creditors' Proofs of Debt Due November 19
PALMETTO PROPERTIES: Members' Final Meeting Set for December 6
B R A Z I L
MINERVA SA: S&P Raises Corporate Credit Rating to 'B'
C A Y M A N I S L A N D S
ALTIMA ASIA: Creditors' Proofs of Debt Due November 30
ALTIMA ASIA: Creditors' Proofs of Debt Due November 30
ALTIMA GLOBAL: Creditors' Proofs of Debt Due November 30
BERNARD L. MADOFF: Trustee Plans to Sue Insolvent Cayman Fund
COOPER MULTI-STRATEGY: Creditors' Proofs of Debt Due November 29
DELTA US: Creditors' Proofs of Debt Due December 1
HFH RANGER: Creditors' Proofs of Debt Due December 8
HFH RANGER: Creditors' Proofs of Debt Due December 8
HSBC ALPHA: Creditors' Proofs of Debt Due November 29
K SQUARED CAPITAL: Creditors' Proofs of Debt Due December 8
MERIDIAN ABSOLUTE: Creditors' Proofs of Debt Due December 8
MERIDIAN ABSOLUTE: Creditors' Proofs of Debt Due December 8
MERIDIAN PERFORMANCE: Creditors' Proofs of Debt Due December 8
MINERVA CAPITAL: Creditors' Proofs of Debt Due December 8
MINERVA MACRO: Creditors' Proofs of Debt Due December 8
MINERVA MACRO: Creditors' Proofs of Debt Due December 8
SOTRADA (CAYMAN): Creditors' Proofs of Debt Due December 8
TRAFELET CAYMAN: Creditors' Proofs of Debt Due December 1
WCIP CAYMAN: Creditors' Proofs of Debt Due December 8
WIJO CAYMAN: Creditors' Proofs of Debt Due December 8
ZAIS CL: Creditors' Proofs of Debt Due November 29
M E X I C O
GRUPO POSADAS: S&P Downgrades Corporate Credit Rating to 'B-'
P U E R T O R I C O
EMPRESAS CORDERO: Files for Chapter 11 Protection
X X X X X X X X
* Large Companies With Insolvent Balance Sheets
- - - - -
=================
A R G E N T I N A
=================
COSQUEV SRL: Creditors' Proofs of Debt Due December 7
-----------------------------------------------------
The court-appointed trustee for Cosquev S.R.L.'s reorganization
proceedings will be verifying creditors' proofs of claim until
December 7, 2010.
The trustee will present the validated claims in court as
individual reports on February 17, 2011. 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
March 31, 2011.
Creditors will vote to ratify the completed settlement plan
during the assembly on August 11, 2011.
DMG SA: Creditors' Proofs of Debt Due April 18
----------------------------------------------
The court-appointed trustee for D.M.G. S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
April 18, 2011.
The trustee will present the validated claims in court as
individual reports on May 31, 2011. 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
July 12, 2011.
EQUITY TRUST: Moody's Rates Debt Securities and Certificates
------------------------------------------------------------
Moody's Latin America has rated the debt securities and
certificates of Fideicomiso Financiero Pvcred IV issued by Equity
Trust Company (Argentina) S.A.- acting solely in its capacity as
issuer and trustee.
-- ARS14,397,943 in Class A Fixed Rate Debt Securities of
"Fideicomiso Financiero Pvcred Serie IV", rated Aaa.ar (sf)
(Argentine National Scale) and Ba2 (sf) (Global Scale, Local
Currency)
-- ARS35,394,944 in Class A Floating Rate Debt Securities of
"Fideicomiso Financiero Pvcred Serie IV", rated Aaa.ar (sf)
(Argentine National Scale) and Ba2 (sf) (Global Scale, Local
Currency)
-- ARS8,998,714 in Class B Debt Securities of "Fideicomiso
Financiero Pvcred Serie IV", rated Ba2.ar (sf) (Argentine
National Scale) and Caa1 (sf) (Global Scale, Local Currency)
-- ARS1,199,829 in Certificates of "Fideicomiso Financiero
Pvcred Serie IV", rated Ca.ar (sf) (Argentine National Scale)
and Ca (sf) (Global Scale, Local Currency).
Ratings Rationale
The rated securities are payable from the cashflow coming from the
assets of the trust, which is an amortizing pool of approximately
9,558 eligible personal loans denominated in Argentine pesos,
bearing fixed interest rate, originated by Pvcred, a financial
company owned by Comafi's Group in Argentina.
These personal loans were originated through Pvcred branches
(using the trade mark "Provencred") and were granted to pensioners
and low/middle income employees.
The Class A Fixed Rate Debt Securities will bear a fixed interest
rate of 11%. The Class A Floating Rate Debt Securities will bear
a BADLAR interest rate plus 295 basis points. The Floating Rate
Debt Securities' interest rate will never be higher than 20% or
lower than 13%. The Class B Fixed Rate Securities will bear a
fixed interest rate of 21%.
Overall credit enhancement is comprised of subordination, various
reserve funds and excess spread.
The transaction has initial subordination levels of 76% and 17%
for the VRDA TF and the VRDA TV respectively. The subordination
levels will increase overtime due to the turbo sequential payment
structure.
The transaction also benefits from an estimated 40.55% annual
excess spread, before considering losses or prepayments and
calculated at the cap of 20% for Class A floating rate securities.
Moody's considered the credit enhancement provided in this
transaction through the initial subordination levels for each
rated class, as well as the historical performance of Pvcred
portfolio. In addition, Moody's considered factors common to
consumer loans securitizations such as delinquencies, prepayments
and losses; as well as specific factors related to the Argentine
market, such as the probability of an increase in losses if there
are changes in the macroeconomic scenario in Argentina.
These factors were incorporated in a cash flow model that takes
into account all the relevant features of the transaction's assets
and liabilities. Monte Carlo simulations were run, which
determines the expected loss for the rated securities.
Moody's analyzed the historical performance data of previous
transactions and similar receivables originated by Pvcred, ranging
from January 2007 to June 2010. In assigning the rating to this
transaction, Moody's assumed a triangular distribution for losses
centered around the most likely scenario of 20%, with a minimum of
10% and a maximum of 30%. Also, Moody's assumed a triangular
distribution for prepayments centered around a most likely
scenario of 40%, with a minimum of 30% and a maximum of 50%.
The model results showed 0.00% expected loss for Class A Fixed
Rate Debt Securities and Floating Rate Debt Securities, 14.92%
expected loss for Class B Fixed Rate Debt Securities and 67.23%
for the Certificates.
Moody's ran several stress scenarios, including increases in the
default rate assumptions. If default rates were increased 10%
from the base case scenario for the pool (i.e., most likely
scenario of 30%, a minimum of 20% and a maximum of 40%), the
ratings of the Class A Fixed Rate would be unchanged. The ratings
of the Class A Floating Rate, the Class B and the Certificates
would be likely downgraded to Ba2 (sf), Ca (sf) and to C (sf),
respectively.
Finally, Moody's also evaluated the back-up servicing arrangements
in the transaction. If Pvcred is removed as collection agent,
Banco Comafi (Ba3/Aa2.ar) will be appointed as the back-up
collection agent.
The main source of uncertainty for this transaction is the default
level of the securitized pool. Although Moody's analyzed the
historical performance data of previous transactions and similar
receivables originated by Pvcred, the actual performance of the
securitized pool may be affected, among others, by the economic
activity and the unemployment rate in Argentina.
Moody's did not receive or take into account a third party due
diligence report on the underlying assets or financial instruments
in this transaction.
ESTABLECIMIENTO: Creditors' Proofs of Debt Due February 25
----------------------------------------------------------
The court-appointed trustee for Establecimiento Frigorifico Azul
S.A.'s reorganization proceedings will be verifying creditors'
proofs of claim until February 25, 2011.
Creditors will vote to ratify the completed settlement plan
during the assembly on November 10, 2011.
=============
B E R M U D A
=============
F-TWO DERIVATIVES: Creditors' Proofs of Debt Due November 19
------------------------------------------------------------
The creditors of F-Two Derivatives, 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 November 2, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
F-TWO DERIVATIVES: Members' Final Meeting Set for December 10
-------------------------------------------------------------
The members of F-Two Derivatives, Ltd. will hold their final
meeting on December 10, 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 November 2, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
FUSION CAPITAL: Creditors' Proofs of Debt Due November 23
---------------------------------------------------------
The creditors of Fusion Capital Ltd. are required to file their
proofs of debt by November 23, 2010, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on October 29, 2010.
The company's liquidators are:
Mike Morrison
Charles Thresh
KPMG Advisory Limited
Crown House, 4 Par-La-Ville Road
Hamilton
Bermuda
FUSION CAPITAL: Members' Final Meeting Set for December 7
---------------------------------------------------------
The members of Fusion Capital Ltd. will hold their final meeting
on December 7, 2010, at 10:00 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 liquidators are:
Mike Morrison
Charles Thresh
KPMG Advisory Limited
Crown House, 4 Par-La-Ville Road
Hamilton
Bermuda
INTERNATIONAL ASSURANCE: Creditors' Proofs of Debt Due November 19
------------------------------------------------------------------
The creditors of International Assurance Company 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 November 1, 2010.
The company's liquidator is:
Steven J. B. Trumper
Sofia House, 1st Floor
48 Church Street
Hamilton
Bermuda
INTERNATIONAL ASSURANCE: Members' Final Meeting Set for December 7
------------------------------------------------------------------
The members of International Assurance Company Ltd. will hold
their final meeting on December 7, 2010, at 11:00 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 November 1, 2010.
The company's liquidator is:
Steven J. B. Trumper
Sofia House, 1st Floor
48 Church Street
Hamilton
Bermuda
KAM2 FINANCE: Creditors' Proofs of Debt Due November 19
-------------------------------------------------------
The creditors of KAM2 Finance Company, 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 November 2, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
KAM2 FINANCE: Members' Final Meeting Set for December 10
--------------------------------------------------------
The members of KAM2 Finance Company, Ltd. will hold their final
meeting on December 10, 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 November 2, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
MG MARINE: Creditors' Proofs of Debt Due November 19
----------------------------------------------------
The creditors of MG Marine Limited 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 November 3, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
MG MARINE: Members' Final Meeting Set for December 10
-----------------------------------------------------
The members of MG Marine Limited will hold their final meeting on
December 10, 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 November 3, 2010.
The company's liquidator is:
Robin J. Mayor
Clarendon House, Church Street
Hamilton
Bermuda
PALMETTO PROPERTIES: Creditors' Proofs of Debt Due November 19
--------------------------------------------------------------
The creditors of Palmetto Properties 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 20, 2010.
The company's liquidator is:
Christopher Dye
Sofia House, 1st Floor
48 Church Street
Hamilton
Bermuda
PALMETTO PROPERTIES: Members' Final Meeting Set for December 6
--------------------------------------------------------------
The members of Palmetto Properties Ltd. will hold their final
meeting on December 6, 2010, at 10:00 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 20, 2010.
The company's liquidator is:
Christopher Dye
Sofia House, 1st Floor
48 Church Street
Hamilton
Bermuda
===========
B R A Z I L
===========
MINERVA SA: S&P Raises Corporate Credit Rating to 'B'
-----------------------------------------------------
Standard & Poor's Ratings Services said that it raised its global
scale ratings on Brazil-based meat processor Minerva S.A.,
including the corporate credit rating, to 'B' from 'B-'. The
outlook is stable.
"The rating action reflects the positive trend in Minerva's credit
metrics," said Standard & Poor's credit analyst Piero Parolin.
"The company has achieved this on stronger operating cash
generation from its concluded greenfield projects, its improved
debt profile after a successful bond exchange offer, the benefits
to Brazilian beef exporters of lower subsidies for local producers
in the European Union, and Minerva's ability to sustain adequate
liquidity over economic cycles.
The ratings on Minerva reflect its leveraged financial profile and
still significant interest burden, which, despite efforts to
reduce interest costs, will likely keep free operating cash flow
negative. They incorporate Minerva's dependence on the successful
ramp-up of expansions and greenfield projects, including Minerva
Dawn Farms, to keep increasing its cash flows.
S&P also factor in the company's exposure to the highly
competitive global beef industry and volatile cattle prices,
highly leveraged financial profile, and still weak, though
improving, credit metrics.
An increasingly geographically diverse asset base, high plant
utilization, and debt structure improvements following Minerva's
exchange offer partially mitigate these risks. Stronger local and
export demand for beef, a higher expected contribution from MDF,
cash flow recovery, and operating flexibility from a higher
capacity for deboning than for slaughtering are also positives for
the issuer.
The stable outlook reflects S&P's expectation that Minerva's
credit metrics will continue benefiting from favorable market
conditions and expanded capacity, making its credit metrics more
adequate for its rating category. At the same time, S&P believes
it will keep refinancing risks moderate.
==========================
C A Y M A N I S L A N D S
==========================
ALTIMA ASIA: Creditors' Proofs of Debt Due November 30
------------------------------------------------------
The creditors of Altima Asia Fund Limited are required to file
their proofs of debt by November 30, 2010, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on October 18, 2010.
The company's liquidator is:
Ogier
c/o Jonathan McLean
Telephone: (345) 815 1805
Facsimile: (345) 949-9877
Ogier 89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
ALTIMA ASIA: Creditors' Proofs of Debt Due November 30
------------------------------------------------------
The creditors of Altima Asia Master Fund Limited are required to
file their proofs of debt by November 30, 2010, to be included in
the company's dividend distribution.
The company commenced wind-up proceedings on October 18, 2010.
The company's liquidator is:
Ogier
c/o Jonathan McLean
Telephone: (345) 815 1805
Facsimile: (345) 949-9877
Ogier 89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
ALTIMA GLOBAL: Creditors' Proofs of Debt Due November 30
--------------------------------------------------------
The creditors of Altima Global Emerging Markets Fund Limited are
required to file their proofs of debt by November 30, 2010, to be
included in the company's dividend distribution.
The company commenced wind-up proceedings on October 14, 2010.
The company's liquidator is:
Ogier
c/o Jonathan McLean
Telephone: (345) 815 1805
Facsimile: (345) 949-9877
Ogier 89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
BERNARD L. MADOFF: Trustee Plans to Sue Insolvent Cayman Fund
-------------------------------------------------------------
Bob Van Voris at Bloomberg News reports that Harley International
(Cayman) Ltd., an insolvent Cayman Islands-based fund that
allegedly funneled money to Bernard Madoff, was ordered to pay
US$1.07 billion to creditors of the convicted con man.
According to Bloomberg, Irving Picard, the trustee overseeing the
liquidation of Mr. Madoff's former firm, Bernard L. Madoff
Investment Securities LLC, sued Harley in May 2009, seeking to
recover phony profits paid to Harley in the six years before the
Madoff bankruptcy was filed.
The report notes that U.S. Bankruptcy Judge Bernard Lifland in New
York entered a judgment against Harley, which is being liquidated
in the Cayman Islands, after ruling the fund had failed to contest
the suit within the deadline for doing so.
In an October 29 report to Judge Lifland detailing his efforts
over the past six months, Mr. Picard said he plans to sue Harley
in a Cayman Islands court, Bloomberg relates.
"We will take such action as we deem appropriate to seek to
recover on the judgment," Kevin McCue, a spokesman for Mr. Picard,
said in an e-mail obtained by the news agency.
About Bernard L. Madoff
Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.
On December 15, 2008, the Honorable Louis A. Stanton of the U.S.
District Court for the Southern District of New York granted the
application of the Securities Investor Protection Corporation for
a decree adjudicating that the customers of BLMIS are in need of
the protection afforded by the Securities Investor Protection Act
of 1970. The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.). Mr.
Picard has retained AlixPartners LLP as claims agent.
On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893). The case is before Hon. Burton Lifland. The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.
On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).
The Chapter 15 case was later transferred to Manhattan. In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.
Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)
As of October 29, 2010, a total of US$5.69 billion in claims by
investors has been allowed, with US$741.2 million to be paid by
the Securities Investor Protection Corp. Investors are expected
to receive additional distributions from money recovered by Mr.
Picard.
COOPER MULTI-STRATEGY: Creditors' Proofs of Debt Due November 29
----------------------------------------------------------------
The creditors of Cooper Multi-Strategy Fund 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 January 28, 2010.
The company's liquidator is:
Ogier
Michelle Richie
Telephone: (345) 815 1755
Facsimile: (345) 949-9877
c/o Ogier 89 Nexus Way
Camana Bay Grand Cayman KY1-9007
Cayman Islands
DELTA US: Creditors' Proofs of Debt Due December 1
--------------------------------------------------
The creditors of Delta U.S. Partners, Ltd. are required to file
their proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on October 4, 2010.
The company's liquidator is:
Ogier
c/o Danielle Walker
Telephone: (345) 815-1880
Facsimile: (345) 949-9877
Ogier 89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
HFH RANGER: Creditors' Proofs of Debt Due December 8
----------------------------------------------------
The creditors of HFH Ranger Master Fund Ltd. 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 13, 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
HFH RANGER: Creditors' Proofs of Debt Due December 8
----------------------------------------------------
The creditors of HFH Ranger Fund, Ltd. 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 13, 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
HSBC ALPHA: Creditors' Proofs of Debt Due November 29
-----------------------------------------------------
The creditors of HSBC Alpha Investments (UK) Limited 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 September 30, 2010.
The company's liquidators are:
David Preston
Beverly Bernard
P.O. Box 1109, Grand Cayman KY1-1102
Cayman Islands
c/o Isabel Mason
Telephone: 949-7755
Facsimile: 949-7634
K SQUARED CAPITAL: Creditors' Proofs of Debt Due December 8
-----------------------------------------------------------
The creditors of K Squared Capital (Offshore), Ltd. 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 13, 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
MERIDIAN ABSOLUTE: Creditors' Proofs of Debt Due December 8
-----------------------------------------------------------
The creditors of Meridian Absolute Return Erisa SPC, Ltd., 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 5, 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
MERIDIAN ABSOLUTE: Creditors' Proofs of Debt Due December 8
-----------------------------------------------------------
The creditors of Meridian Absolute Return Erisa Fund, Ltd. 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 5, 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
MERIDIAN PERFORMANCE: Creditors' Proofs of Debt Due December 8
--------------------------------------------------------------
The creditors of Meridian Performance Partners Erisa Fund, Ltd.
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 5, 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
MINERVA CAPITAL: Creditors' Proofs of Debt Due December 8
---------------------------------------------------------
The creditors of Minerva Capital Management (Cayman) 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 wind-up proceedings on October 15, 2010.
The company's liquidator is:
Avalon Management Limited
Reference: GL
Telephone: (+1) 345 769 4422
Facsimile: (+1) 345 769 9351
Landmark Square, 1st Floor
64 Earth Close West Bay Beach
PO Box 715, George Town
Grand Cayman KY1-1107
Cayman Islands
MINERVA MACRO: Creditors' Proofs of Debt Due December 8
-------------------------------------------------------
The creditors of Minerva Macro Master Fund 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 wind-up proceedings on October 25, 2010.
The company's liquidator is:
Avalon Management Limited
Reference: GL
Telephone: (+1) 345 769 4422
Facsimile: (+1) 345 769 9351
Landmark Square, 1st Floor
64 Earth Close West Bay Beach
PO Box 715, George Town
Grand Cayman KY1-1107
Cayman Islands
MINERVA MACRO: Creditors' Proofs of Debt Due December 8
-------------------------------------------------------
The creditors of Minerva Macro Fund 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 wind-up proceedings on October 25, 2010.
The company's liquidator is:
Avalon Management Limited
Reference: GL
Telephone: (+1) 345 769 4422
Facsimile: (+1) 345 769 9351
Landmark Square, 1st Floor
64 Earth Close West Bay Beach
PO Box 715, George Town
Grand Cayman KY1-1107
Cayman Islands
SOTRADA (CAYMAN): Creditors' Proofs of Debt Due December 8
----------------------------------------------------------
The creditors of Sotrada (Cayman) 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 September 23,
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
TRAFELET CAYMAN: Creditors' Proofs of Debt Due December 1
---------------------------------------------------------
The creditors of Trafelet Cayman Ltd. are required to file their
proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on October 4, 2010.
The company's liquidator is:
Ogier
c/o Danielle Walker
Telephone: (345) 815-1880
Facsimile: (345) 949-9877
Ogier 89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
WCIP CAYMAN: Creditors' Proofs of Debt Due December 8
-----------------------------------------------------
The creditors of WCIP Cayman, Ltd. 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 20, 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
WIJO CAYMAN: Creditors' Proofs of Debt Due December 8
-----------------------------------------------------
The creditors of Wijo Cayman 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 September 22,
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
ZAIS CL: Creditors' Proofs of Debt Due November 29
--------------------------------------------------
The creditors of Zais CL, 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
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
===========
GRUPO POSADAS: S&P Downgrades Corporate Credit Rating to 'B-'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its ratings on
Mexican hotel operator Grupo Posadas S.A.B. de C.V., including
cutting the global scale corporate credit rating to 'B-' from 'B+'
and the national scale corporate credit rating to 'mxBB-' from
'mxBBB'. S&P also placed the ratings on CreditWatch with negative
implications.
The rating action reflects the company's higher debt leverage, its
more aggressive financial policy, as well as its weakening
liquidity position. The CreditWatch placement reflects the
uncertainty regarding the successful negotiation of Posadas'
covenants under its bank loan agreements while facing the high
possibility of a breach by year end. S&P will resolve the
CreditWatch after S&P receives information on the renegotiation of
the covenants.
"S&P could lower the ratings if the company fails to renegotiate
the covenants' thresholds during the grace period contemplated
under the loan agreement and the bank accelerates the debt," said
Standard & Poor's credit analyst Monica Ponce.
The company's debt levels are high, resulting in a highly
leveraged financial profile. For the 12 months ended Sept. 30,
2010, adjusted total debt to EBITDA and funds from operations to
total debt ratios stood at 6.7x and 5.3%, respectively, which
compare negatively with the 5.1x and 14.4% reported for the same
period of the previous year. The increased leverage is mainly due
to the company's lower EBITDA generation, reflecting the slower-
than-expected recovery in its operations and the negative impact
that the holding company of the airline Mexicana, Nuevo Grupo
Aeronautico's bankruptcy had on Posadas' results. Also, the
company distributed a Mexican peso MXN224 million dividend to its
shareholders in 2010, and in the third quarter of 2010 Posadas'
management granted a MXN49 million loan to NGA on its last day of
operation, further proving the company's aggressiveness.
The company's higher debt and the lower-than-expected EBITDA have
tightened the company's covenants under some of its bank loans.
S&P believes that by year-end 2010, its unadjusted net debt to
EBITDA ratio will be around 4.75x, above the 4.5x ratio that is
allowed as a maximum under Posadas' covenants. If the company
does not negotiate the current covenants, the debt under the loan
agreements could be accelerated.
Offsetting factors on the corporate credit rating on Posadas are
the company's position as the largest hotel operator in Mexico,
and its diversified hotel portfolio, including well-recognized
brands.
=====================
P U E R T O R I C O
=====================
EMPRESAS CORDERO: Files for Chapter 11 Protection
-------------------------------------------------
caribbeanbusinesspr.com reports that Empresas Cordero Badillo
filed for Chapter 11 bankruptcy as founder Atilano Cordero Badillo
works to sell off the pieces of his once-mighty Supermercados
Grande grocery store chain.
According to the report, the US$32 million restructuring filing
reportedly lists more than US$21 million in debts to suppliers and
an $11 million debt to Citibank.
Cordero Badillo announced the dismantling of Supermercados Grande
this summer after starting to sell of pieces of the 31-store chain
that rang up sales of US$400 million annually, the report notes.
Empresas Cordero Badillo is located in Guaynabo, Puerto Rico.
===============
X X X X X X X X
===============
* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
Total
Total Shareholders
Assets Equity
Company Ticker (US$MM) (US$MM)
------- ------ ------------ -------
ARGENTINA
IMPSAT FIBER-$US IMPTD AR 535007008 -17165000
IMPSAT FIBER NET IMPTQ US 535007008 -17165000
IMPSAT FIBER-CED IMPT AR 535007008 -17165000
IMPSAT FIBER-BLK IMPTB AR 535007008 -17165000
IMPSAT FIBER-C/E IMPTC AR 535007008 -17165000
IMPSAT FIBER NET XIMPT SM 535007008 -17165000
IMPSAT FIBER NET 330902Q GR 535007008 -17165000
AUTOPISTAS SOL AUSO AR 364771500 -6265989.027
AUTOPISTAS SOL APDSF US 364771500 -6265989.027
SOC COMERCIAL PL CVVIF US 135685132 -249657809.9
COMERCIAL PLAT-$ COMED AR 135685132 -249657809.9
SOC COMERCIAL PL SCDPF US 135685132 -249657809.9
SOC COMERCIAL PL CAD IX 135685132 -249657809.9
SOC COMERCIAL PL COME AR 135685132 -249657809.9
COMERCIAL PL-C/E COMEC AR 135685132 -249657809.9
COMERCIAL PLA-BL COMEB AR 135685132 -249657809.9
SOC COMERCIAL PL CADN SW 135685132 -249657809.9
SOC COMERCIAL PL CADN EO 135685132 -249657809.9
COMERCIAL PL-ADR SCPDS LI 135685132 -249657809.9
SNIAFA SA-B SNIA5 AR 11229696 -2670544.877
SNIAFA SA-B SDAGF US 11229696 -2670544.877
SNIAFA SA SNIA AR 11229696 -2670544.877
BRAZIL
VARIG SA-PREF VARGPN BZ 966298026 -4695211316
VARIG SA-PREF VAGV4 BZ 966298026 -4695211316
VARIG SA VAGV3 BZ 966298026 -4695211316
VARIG SA VARGON BZ 966298026 -4695211316
AGRENCO LTD AGRE LX 542862484 -297848370.7
AGRENCO LTD-BDR AGEN11 BZ 542862484 -297848370.7
LAEP-BDR MILK11 BZ 432349610 -161351898.4
LAEP INVESTMENTS LEAP LX 432349610 -161351898.4
PARMALAT LCSA3 BZ 388720052 -213641143.9
PARMALAT-PREF LCSA4 BZ 388720052 -213641143.9
PARMALAT BRASIL LCSAON BZ 388720052 -213641143.9
PARMALAT BRAS-PF LCSAPN BZ 388720052 -213641143.9
PARMALAT BR-RT C LCSA5 BZ 388720052 -213641143.9
PARMALAT BR-RT P LCSA6 BZ 388720052 -213641143.9
CIA PETROLIFERA MRLM3B BZ 377602195 -3014291.724
CIA PETROLIF-PRF MRLM4 BZ 377602195 -3014291.724
CIA PETROLIFERA 1CPMON BZ 377602195 -3014291.724
CIA PETROLIFERA MRLM3 BZ 377602195 -3014291.724
CIA PETROLIF-PRF MRLM4B BZ 377602195 -3014291.724
CIA PETROLIF-PRF 1CPMPN BZ 377602195 -3014291.724
DOCA INVESTIMENT DOCA3 BZ 343189539 -89982750
DOCAS SA-RTS PRF DOCA2 BZ 343189539 -89982750
DOCAS SA-PREF DOCAPN BZ 343189539 -89982750
DOCAS SA DOCAON BZ 343189539 -89982750
DOCA INVESTI-PFD DOCA4 BZ 343189539 -89982750
BOMBRIL-RGTS PRE BOBR2 BZ 289427238 -121390489.3
BOMBRIL CIRIO-PF BOBRPN BZ 289427238 -121390489.3
BOMBRIL BOBR3 BZ 289427238 -121390489.3
BOMBRIL-PREF BOBR4 BZ 289427238 -121390489.3
BOMBRIL SA-ADR BMBBY US 289427238 -121390489.3
BOMBRIL CIRIO SA BOBRON BZ 289427238 -121390489.3
BOMBRIL SA-ADR BMBPY US 289427238 -121390489.3
BOMBRIL-RIGHTS BOBR1 BZ 289427238 -121390489.3
BOMBRIL BMBBF US 289427238 -121390489.3
TELEBRAS SA TBASF US 244716404 -14836627.73
TELEBRAS-ADR RTB US 244716404 -14836627.73
TELEBRAS SA-RT TELB9 BZ 244716404 -14836627.73
TELEBRAS-ADR TBX GR 244716404 -14836627.73
TELEBRAS-CM RCPT RCTB32 BZ 244716404 -14836627.73
TELEBRAS-RECEIPT TLBRUO BZ 244716404 -14836627.73
TELEBRAS-CM RCPT TELE31 BZ 244716404 -14836627.73
TELEBRAS-ADR TBASY US 244716404 -14836627.73
TELEBRAS-PF RCPT RCTB40 BZ 244716404 -14836627.73
TELEBRAS-CEDEA $ TEL4D AR 244716404 -14836627.73
TELEBRAS-PF RCPT RCTB42 BZ 244716404 -14836627.73
TELEBRAS-ADR TBAPY US 244716404 -14836627.73
TELEBRAS/W-I-ADR TBH-W US 244716404 -14836627.73
TELEBRAS-PF RCPT TELE41 BZ 244716404 -14836627.73
TELEBRAS-RTS CMN TCLP1 BZ 244716404 -14836627.73
TELEBRAS-COM RT TELB1 BZ 244716404 -14836627.73
TELEBRAS SA TELB3 BZ 244716404 -14836627.73
TELEBRAS SA-PREF TELB4 BZ 244716404 -14836627.73
TELEBRAS-PF RCPT TBAPF US 244716404 -14836627.73
TELEBRAS-PF BLCK TELB40 BZ 244716404 -14836627.73
TELEBRAS-RTS PRF RCTB2 BZ 244716404 -14836627.73
TELEBRAS-RTS PRF TLCP2 BZ 244716404 -14836627.73
TELEBRAS-RTS CMN RCTB1 BZ 244716404 -14836627.73
TELEBRAS-ADR TBH US 244716404 -14836627.73
TELEBRAS-PF RCPT RCTB41 BZ 244716404 -14836627.73
TELEBRAS-CEDE PF RCTB4 AR 244716404 -14836627.73
TELEBRAS-CM RCPT TBRTF US 244716404 -14836627.73
TELEBRAS-CEDEA $ RCT4D AR 244716404 -14836627.73
TELEBRAS-CED C/E RCT4C AR 244716404 -14836627.73
TELEBRAS-PF RCPT CBRZF US 244716404 -14836627.73
TELECOMUNICA-ADR 81370Z BZ 244716404 -14836627.73
TELEBRAS-BLOCK TELB30 BZ 244716404 -14836627.73
TELEBRAS-RCT RCTB33 BZ 244716404 -14836627.73
TELEBRAS-CEDE BL RCT4B AR 244716404 -14836627.73
TELEBRAS-ADR TBRAY GR 244716404 -14836627.73
TELEBRAS SA-PREF TLBRPN BZ 244716404 -14836627.73
TELEBRAS-RCT PRF TELB10 BZ 244716404 -14836627.73
TELEBRAS-CEDE PF TELB4 AR 244716404 -14836627.73
TELEBRAS-CED C/E TEL4C AR 244716404 -14836627.73
TELEBRAS SA TLBRON BZ 244716404 -14836627.73
TELEBRAS-CM RCPT RCTB30 BZ 244716404 -14836627.73
TELEBRAS-CM RCPT RCTB31 BZ 244716404 -14836627.73
TELEBRAS-PF RCPT TLBRUP BZ 244716404 -14836627.73
HOTEIS OTHON SA HOOT3 BZ 239702780 -38730311.42
HOTEIS OTHON SA HOTHON BZ 239702780 -38730311.42
HOTEIS OTHON-PRF HOOT4 BZ 239702780 -38730311.42
HOTEIS OTHON-PRF HOTHPN BZ 239702780 -38730311.42
TEKA TKTQF US 229977754 -351007550.5
TEKA-ADR TEKAY US 229977754 -351007550.5
TEKA TEKAON BZ 229977754 -351007550.5
TEKA-ADR TKTQY US 229977754 -351007550.5
TEKA-PREF TEKAPN BZ 229977754 -351007550.5
TEKA TEKA3 BZ 229977754 -351007550.5
TEKA-PREF TEKA4 BZ 229977754 -351007550.5
TEKA-PREF TKTPF US 229977754 -351007550.5
TEKA-ADR TKTPY US 229977754 -351007550.5
BALADARE BLDR3 BZ 159454016 -52992212.81
SANSUY-PREF B SNSY6 BZ 147187163 -86606310.78
SANSUY SNSY3 BZ 147187163 -86606310.78
SANSUY SA-PREF A SNSYAN BZ 147187163 -86606310.78
SANSUY SA-PREF B SNSYBN BZ 147187163 -86606310.78
SANSUY SA SNSYON BZ 147187163 -86606310.78
SANSUY-PREF A SNSY5 BZ 147187163 -86606310.78
GRADIENTE-PREF A IGBR5 BZ 145256033 -273857291.8
GRADIENTE EL-PRB IGBBN BZ 145256033 -273857291.8
GRADIENTE-PREF B IGBR6 BZ 145256033 -273857291.8
IGB ELETRONICA IGBR3 BZ 145256033 -273857291.8
GRADIENTE-PREF C IGBR7 BZ 145256033 -273857291.8
GRADIENTE ELETR IGBON BZ 145256033 -273857291.8
GRADIENTE EL-PRC IGBCN BZ 145256033 -273857291.8
GRADIENTE EL-PRA IGBAN BZ 145256033 -273857291.8
PET MANG-RT RPMG2 BZ 140673541 -164925695
PET MANG-RT 4115360Q BZ 140673541 -164925695
PET MANG-RT 4115364Q BZ 140673541 -164925695
PET MANGUINH-PRF RPMG4 BZ 140673541 -164925695
PET MANG-RT RPMG1 BZ 140673541 -164925695
PETRO MANGUINHOS RPMG3 BZ 140673541 -164925695
PETRO MANGUIN-PF MANGPN BZ 140673541 -164925695
PET MANG-RIGHTS 3678569Q BZ 140673541 -164925695
PET MANG-RECEIPT RPMG9 BZ 140673541 -164925695
PETRO MANGUINHOS MANGON BZ 140673541 -164925695
PET MANG-RIGHTS 3678565Q BZ 140673541 -164925695
PET MANG-RECEIPT RPMG10 BZ 140673541 -164925695
D H B DHBI3 BZ 139112728 -464095219.3
D H B-PREF DHBI4 BZ 139112728 -464095219.3
DHB IND E COM-PR DHBPN BZ 139112728 -464095219.3
DHB IND E COM DHBON BZ 139112728 -464095219.3
RIMET-PREF REEM4 BZ 98343507 -133499963.5
RIMET-PREF REEMPN BZ 98343507 -133499963.5
RIMET REEM3 BZ 98343507 -133499963.5
RIMET REEMON BZ 98343507 -133499963.5
VARIG PART EM-PR VPSC4 BZ 96617351 -460274609.3
VARIG PART EM SE VPSC3 BZ 96617351 -460274609.3
DOC IMBITUB-PREF IMBI4 BZ 93031452 -40080158.43
DOC IMBITUBA-RTC IMBI1 BZ 93031452 -40080158.43
DOCAS IMBITUBA IMBION BZ 93031452 -40080158.43
DOCAS IMBITUB-PR IMBIPN BZ 93031452 -40080158.43
DOC IMBITUBA IMBI3 BZ 93031452 -40080158.43
DOC IMBITUBA-RTP IMBI2 BZ 93031452 -40080158.43
WETZEL SA MWELON BZ 87767331 -7143891.358
WETZEL SA-PREF MWELPN BZ 87767331 -7143891.358
WETZEL SA MWET3 BZ 87767331 -7143891.358
WETZEL SA-PREF MWET4 BZ 87767331 -7143891.358
ACO ALTONA EALT3 BZ 81612029 -10647927.21
ACO ALTONA SA EAAON BZ 81612029 -10647927.21
ACO ALTONA-PREF EALT4 BZ 81612029 -10647927.21
ACO ALTONA-PREF EAAPN BZ 81612029 -10647927.21
ESTRELA SA-PREF ESTRPN BZ 76255458 -69760619.71
ESTRELA SA ESTRON BZ 76255458 -69760619.71
ESTRELA SA-PREF ESTR4 BZ 76255458 -69760619.71
ESTRELA SA ESTR3 BZ 76255458 -69760619.71
RIOSULENSE SA RSULON BZ 68368524 -9647727.042
RIOSULENSE SA-PR RSULPN BZ 68368524 -9647727.042
RIOSULENSE SA-PR RSUL4 BZ 68368524 -9647727.042
RIOSULENSE SA RSUL3 BZ 68368524 -9647727.042
RENAUXVIEW SA TXRX3 BZ 63668805 -94477605.85
TEXTEIS RENAUX RENXON BZ 63668805 -94477605.85
RENAUXVIEW SA-PF TXRX4 BZ 63668805 -94477605.85
TEXTEIS RENA-RCT TXRX10 BZ 63668805 -94477605.85
TEXTEIS RENAU-RT TXRX1 BZ 63668805 -94477605.85
TEXTEIS RENAU-RT TXRX2 BZ 63668805 -94477605.85
TEXTEIS RENAUX RENXPN BZ 63668805 -94477605.85
TEXTEIS RENA-RCT TXRX9 BZ 63668805 -94477605.85
FABRICA RENAUX-P FTRX4 BZ 63036915 -59781833.04
FABRICA RENAUX FRNXON BZ 63036915 -59781833.04
FABRICA TECID-RT FTRX1 BZ 63036915 -59781833.04
FABRICA RENAUX FTRX3 BZ 63036915 -59781833.04
FABRICA RENAUX-P FRNXPN BZ 63036915 -59781833.04
MINUPAR SA-PREF MNPRPN BZ 60015033 -53107712.85
MINUPAR MNPR3 BZ 60015033 -53107712.85
MINUPAR-RT MNPR1 BZ 60015033 -53107712.85
MINUPAR-RCT MNPR9 BZ 60015033 -53107712.85
MINUPAR SA MNPRON BZ 60015033 -53107712.85
MINUPAR-PREF MNPR4 BZ 60015033 -53107712.85
VARIG PART EM TR VPTA3 BZ 49432124 -399290425.8
VARIG PART EM-PR VPTA4 BZ 49432124 -399290425.8
CIMOB PART-PREF GAFPN BZ 39881387 -41560336.89
CIMOB PART-PREF GAFP4 BZ 39881387 -41560336.89
CIMOB PARTIC SA GAFON BZ 39881387 -41560336.89
CIMOB PARTIC SA GAFP3 BZ 39881387 -41560336.89
WIEST SA-PREF WISAPN BZ 39838114 -93371563.06
WIEST-PREF WISA4 BZ 39838114 -93371563.06
WIEST SA WISAON BZ 39838114 -93371563.06
WIEST WISA3 BZ 39838114 -93371563.06
SANESALTO SNST3 BZ 31044051 -1843297.832
STAROUP SA-PREF STARPN BZ 27663605 -7174512.028
BOTUCATU TEXTIL STRP3 BZ 27663605 -7174512.028
STAROUP SA STARON BZ 27663605 -7174512.028
BOTUCATU-PREF STRP4 BZ 27663605 -7174512.028
CONST BETER SA 1007Q BZ 23747401 -4784798.526
CONST BETER SA COBE3B BZ 23747401 -4784798.526
CONST BETER-PF A 1COBAN BZ 23747401 -4784798.526
CONST BETER SA 1COBON BZ 23747401 -4784798.526
CONST BETER SA COBEON BZ 23747401 -4784798.526
CONST BETER-PR A COBEAN BZ 23747401 -4784798.526
CONST BETER-PF A COBE5 BZ 23747401 -4784798.526
CONST BETER SA COBE3 BZ 23747401 -4784798.526
CONST BETER-PR A 1008Q BZ 23747401 -4784798.526
CONST BETER-PR B 1009Q BZ 23747401 -4784798.526
CONST BETER-PF B 1COBBN BZ 23747401 -4784798.526
CONST BETER-PR B COBEBN BZ 23747401 -4784798.526
CONST BETER-PF B COBE6 BZ 23747401 -4784798.526
STEEL - RCT ORD STLB9 BZ 22548846 -4346785.695
STEEL DO BRASIL STLB3 BZ 22548846 -4346785.695
STEEL - RT STLB1 BZ 22548846 -4346785.695
CHIARELLI SA-PRF CCHPN BZ 22274027 -44537138.21
CHIARELLI SA CCHI3 BZ 22274027 -44537138.21
CHIARELLI SA-PRF CCHI4 BZ 22274027 -44537138.21
CHIARELLI SA CCHON BZ 22274027 -44537138.21
NOVA AMERICA SA 1NOVON BZ 21287489 -183535527.2
NOVA AMERICA-PRF NOVAPN BZ 21287489 -183535527.2
NOVA AMERICA SA NOVA3B BZ 21287489 -183535527.2
NOVA AMERICA SA NOVAON BZ 21287489 -183535527.2
NOVA AMERICA-PRF NOVA4 BZ 21287489 -183535527.2
NOVA AMERICA-PRF 1NOVPN BZ 21287489 -183535527.2
NOVA AMERICA-PRF NOVA4B BZ 21287489 -183535527.2
NOVA AMERICA SA NOVA3 BZ 21287489 -183535527.2
CAF BRASILIA CAFE3 BZ 20327861 -810559464.2
CAF BRASILIA-PRF CAFE4 BZ 20327861 -810559464.2
CAFE BRASILIA-PR CSBRPN BZ 20327861 -810559464.2
CAFE BRASILIA SA CSBRON BZ 20327861 -810559464.2
TECEL S JOSE-PRF SJOS4 BZ 19067322 -52580501.1
TECEL S JOSE FTSJON BZ 19067322 -52580501.1
TECEL S JOSE SJOS3 BZ 19067322 -52580501.1
TECEL S JOSE-PRF FTSJPN BZ 19067322 -52580501.1
FERRAGENS HAGA-P HAGAPN BZ 18770787 -60946123.59
FERRAGENS HAGA HAGAON BZ 18770787 -60946123.59
FER HAGA-PREF HAGA4 BZ 18770787 -60946123.59
HAGA HAGA3 BZ 18770787 -60946123.59
UNI CIDADE UNCI3 BZ 15460621 -5200646.591
NORDON MET-RTS NORD1 BZ 15209019 -20936822.94
NORDON METAL NORDON BZ 15209019 -20936822.94
NORDON MET NORD3 BZ 15209019 -20936822.94
PROMAN PRMN3B BZ 12878932 -38408.01805
PROMAN PRMN3 BZ 12878932 -38408.01805
GAZOLA-RCPTS CMN GAZO9 BZ 12452143 -40298506.25
GAZOLA SA-DVD CM GAZO11 BZ 12452143 -40298506.25
GAZOLA-RCPT PREF GAZO10 BZ 12452143 -40298506.25
GAZOLA GAZO3 BZ 12452143 -40298506.25
GAZOLA-PREF GAZO4 BZ 12452143 -40298506.25
GAZOLA SA-DVD PF GAZO12 BZ 12452143 -40298506.25
GAZOLA SA GAZON BZ 12452143 -40298506.25
GAZOLA SA-PREF GAZPN BZ 12452143 -40298506.25
SAUIPE PSEG3 BZ 11690510 -5076538.038
SAUIPE SA-PREF PSEGPN BZ 11690510 -5076538.038
SAUIPE-PREF PSEG4 BZ 11690510 -5076538.038
SAUIPE SA PSEGON BZ 11690510 -5076538.038
ARTHUR LAN-DVD P ARLA12 BZ 11642256 -17154461.86
ARTHUR LANGE SA ALICON BZ 11642256 -17154461.86
ARTHUR LANG-RT C ARLA1 BZ 11642256 -17154461.86
ARTHUR LAN-DVD C ARLA11 BZ 11642256 -17154461.86
ARTHUR LANGE ARLA3 BZ 11642256 -17154461.86
ARTHUR LANG-RC C ARLA9 BZ 11642256 -17154461.86
ARTHUR LANG-RC P ARLA10 BZ 11642256 -17154461.86
ARTHUR LANGE-PRF ARLA4 BZ 11642256 -17154461.86
ARTHUR LANGE-PRF ALICPN BZ 11642256 -17154461.86
ARTHUR LANG-RT P ARLA2 BZ 11642256 -17154461.86
SCHLOSSER-PREF SCLO4 BZ 11513499 -58660176.33
SCHLOSSER SCLO3 BZ 11513499 -58660176.33
SCHLOSSER SA-PRF SCHPN BZ 11513499 -58660176.33
SCHLOSSER SA SCHON BZ 11513499 -58660176.33
FERREIRA GUIM-PR FGUIPN BZ 11016542 -151840377.4
FERREIRA GUIMARA FGUION BZ 11016542 -151840377.4
F GUIMARAES-PREF FGUI4 BZ 11016542 -151840377.4
F GUIMARAES FGUI3 BZ 11016542 -151840377.4
HERCULES HETA3 BZ 10710103 -164239944.3
HERCULES-PREF HETA4 BZ 10710103 -164239944.3
HERCULES SA-PREF HERTPN BZ 10710103 -164239944.3
HERCULES SA HERTON BZ 10710103 -164239944.3
CHILE
CHILESAT CO-ADR TL US 670035499 -88041020.22
CHILESAT CORP SA TELEX CI 670035499 -88041020.22
TELEX-A TELEXA CI 670035499 -88041020.22
TELMEX CORP-ADR CSAOY US 670035499 -88041020.22
TELMEX CORP SA CHILESAT CI 670035499 -88041020.22
CHILESAT CO-RTS CHISATOS CI 670035499 -88041020.22
TELEX-RTS TELEXO CI 670035499 -88041020.22
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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
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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.
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