/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/110120.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 Thursday, January 20, 2011, Vol. 12, No. 14 Headlines B E R M U D A CELESTIAL NUTRIFOODS: Appoints Yit Chee Wah as Liquidator FAM HOLDINGS: Creditors' Proofs of Debt Due January 28 FAM HOLDINGS: Members' Final Meeting Set for February 18 KCP (BERMUDA): Creditors' Proofs of Debt Due January 28 KCP (BERMUDA): Members' Final Meeting Set for February 17 SARGASSO CONSULTANTS: Creditors' Proofs of Debt Due February 16 SARGASSO CONSULTANTS: Members' Final Meeting Set for February 28 STOCKTON REINSURANCE: Creditors' Proofs of Debt Due February 4 STOCKTON REINSURANCE: Members' Final Meeting Set for February 24 UNOCAL AMERICAS: Creditors' Proofs of Debt Due January 28 UNOCAL AMERICAS: Members' Final Meeting Set for February 18 UNOCAL AMERICAS: Creditors' Proofs of Debt Due January 28 UNOCAL AMERICAS: Members' Final Meeting Set for February 18 UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 UNOCAL BRAZIL: Members' Final Meeting Set for February 18 UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 UNOCAL BRAZIL: Members' Final Meeting Set for February 18 UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 UNOCAL BRAZIL: Members' Final Meeting Set for February 18 UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 UNOCAL BRAZIL: Members' Final Meeting Set for February 18 B R A Z I L * BRAZIL: May Refinance Debt of Banks Under Liquidation C A Y M A N I S L A N D S ADIC MULTI-STRATEGY: Creditors' Proofs of Debt Due February 14 BAER US: Creditors' Proofs of Debt Due January 21 BRANZINO LIMITED: Placed Under Voluntary Wind-Up BT AZURE: Commences Liquidation Proceedings CAPELLA HOLDING: Commences Liquidation Proceedings CDW HOLDINGS: Placed Under Voluntary Wind-Up FUSHIMI ESTATE: Creditors' Proofs of Debt Due January 20 GLENWOOD OFFSHORE: Commences Liquidation Proceedings GLENWOOD OFFSHORE: Shareholders Receive Wind-Up Report HARBOUR CITY: Creditors' Proofs of Debt Due January 20 HIGHBRIDGE INVESTMENTS: Commences Liquidation Proceedings J.L.S NO.2: Commences Liquidation Proceedings KOKORRO LIMITED: Placed Under Voluntary Wind-Up LAKEVILLE FUND: Commences Liquidation Proceedings LAZARD CONVERTIBLE: Placed Under Voluntary Wind-Up MCKINLEY II: Creditors' Proofs of Debt Due January 20 MKP GLOBAL: Commences Liquidation Proceedings MKP GLOBAL: Commences Liquidation Proceedings NEWSMITH OPPORTUNITIES: Creditors' Proofs of Debt Due January 20 NINE GRADE: Creditors' Proofs of Debt Due January 20 NINE GRADE: Creditors' Proofs of Debt Due January 20 NINE GRADE: Creditors' Proofs of Debt Due January 20 NOEMA ADVISORY: Placed Under Voluntary Wind-Up PANAX EAST: Commences Liquidation Proceedings PANAX WEST: Commences Liquidation Proceedings POND INVESTMENTS: Placed Under Voluntary Wind-Up RISING SUN: Creditors' Proofs of Debt Due January 20 SEQUOIA LIMITED: Placed Under Voluntary Wind-Up SR COMO: Commences Liquidation Proceedings STONEWALL LTD: Placed Under Voluntary Wind-Up TIERRA ALTA: Creditors' Proofs of Debt Due January 20 P U E R T O R I C O * PUERTO RICO: Bankruptcies Filed Up 10% in 2010 X X X X X X X X * Upcoming Meetings, Conferences and Seminars - - - - - ============= B E R M U D A ============= CELESTIAL NUTRIFOODS: Appoints Yit Chee Wah as Liquidator --------------------------------------------------------- On December 24, 2010, the Honourable Justice Lai Siu Chiu appointed Yit Chee Wah as provisional liquidator of Celestial Nutrifoods Limited. The Liquidator can be reached at: Yit Chee Wah FTI Consulting (Singapore) Pte Ltd 8 Shenton Way #17-02A Singapore 068811 FAM HOLDINGS: Creditors' Proofs of Debt Due January 28 ------------------------------------------------------ The creditors of FAM Holdings Company Limited are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on December 31, 2010. The company's liquidator is: Robin J. Mayor Clarendon House, 2 Church Street Hamilton HM 11 Bermuda FAM HOLDINGS: Members' Final Meeting Set for February 18 -------------------------------------------------------- The members of FAM Holdings Company Limited will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company was placed under voluntary wind-up on December 31, 2010. The company's liquidator is: Robin J. Mayor Clarendon House, 2 Church Street Hamilton HM 11 Bermuda KCP (BERMUDA): Creditors' Proofs of Debt Due January 28 ------------------------------------------------------- The creditors of KCP (Bermuda) Ltd. are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 13, 2011. The company's liquidator is: Jonathan C. Clipper Suite 1531, 48 Par La Ville Road Hamilton HM11 Bermuda KCP (BERMUDA): Members' Final Meeting Set for February 17 --------------------------------------------------------- The members of KCP (Bermuda) Ltd. will hold their final meeting on February 17, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Jonathan C. Clipper Suite 1531, 48 Par La Ville Road Hamilton HM11 Bermuda SARGASSO CONSULTANTS: Creditors' Proofs of Debt Due February 16 --------------------------------------------------------------- The creditors of Sargasso Consultants Ltd. are required to file their proofs of debt by February 16, 2011, to be included in the company's dividend distribution. The company's liquidator is: Kenneth L. Hammond c/o Mello Jones & Martin Thistle House, 4 Burnaby Street Hamilton Bermuda SARGASSO CONSULTANTS: Members' Final Meeting Set for February 28 ---------------------------------------------------------------- The members of Sargasso Consultants Ltd. will hold their final meeting on February 28, 2011, at 3:00 p.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Kenneth L. Hammond c/o Mello Jones & Martin Thistle House, 4 Burnaby Street Hamilton Bermuda STOCKTON REINSURANCE: Creditors' Proofs of Debt Due February 4 -------------------------------------------------------------- The creditors of Stockton Reinsurance Investments Limited are required to file their proofs of debt by February 4, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on December 31, 2010. The company's liquidator is: Robert G. Easton Cumberland House, 1 Victoria Street Hamilton Bermuda STOCKTON REINSURANCE: Members' Final Meeting Set for February 24 ---------------------------------------------------------------- The members of Stockton Reinsurance Investments Limited will hold their final meeting on February 24, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company was placed under voluntary wind-up on December 31, 2010. The company's liquidator is: Robert G. Easton Cumberland House, 1 Victoria Street Hamilton Bermuda UNOCAL AMERICAS: Creditors' Proofs of Debt Due January 28 --------------------------------------------------------- The creditors of Unocal Americas II, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL AMERICAS: Members' Final Meeting Set for February 18 ----------------------------------------------------------- The members of Unocal Americas II, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL AMERICAS: Creditors' Proofs of Debt Due January 28 --------------------------------------------------------- The creditors of Unocal Americas III, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL AMERICAS: Members' Final Meeting Set for February 18 ----------------------------------------------------------- The members of Unocal Americas III, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 ------------------------------------------------------- The creditors of Unocal Brazil V, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Members' Final Meeting Set for February 18 --------------------------------------------------------- The members of Unocal Brazil V, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 ------------------------------------------------------- The creditors of Unocal Brazil III, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Members' Final Meeting Set for February 18 --------------------------------------------------------- The members of Unocal Brazil III, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 ------------------------------------------------------- The creditors of Unocal Brazil IV, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Members' Final Meeting Set for February 18 --------------------------------------------------------- The members of Unocal Brazil IV, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Creditors' Proofs of Debt Due January 28 ------------------------------------------------------- The creditors of Unocal Brazil VI, Ltd., are required to file their proofs of debt by January 28, 2011, to be included in the company's dividend distribution. The company was placed under voluntary wind-up on January 10, 2010. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda UNOCAL BRAZIL: Members' Final Meeting Set for February 18 --------------------------------------------------------- The members of Unocal Brazil VI, Ltd., will hold their final meeting on February 18, 2011, at 9:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Gary R. Pitman Chevron House, 11 Church Street Hamilton Bermuda =========== B R A Z I L =========== * BRAZIL: May Refinance Debt of Banks Under Liquidation ------------------------------------------------------- Iuri Dantas at Bloomberg News reports that Valor Economico newspaper said Brazil's central bank may refinance debt owed by banks that are being liquidated, according to a law approved in June. The newspaper reported that banks under liquidation owe BRL57 billion (US$34 billion) to the central bank, according to Bloomberg. Valor Economico newspaper, Bloomberg discloses, said Banco Nacional SA, which owes BRL28.4 billion, Banco Economico SA with a BRL23.4 billion liability, and Banco Bamerindus SA, filed proposals with the central bank last year to refinance their debt. =========================== C A Y M A N I S L A N D S =========================== ADIC MULTI-STRATEGY: Creditors' Proofs of Debt Due February 14 -------------------------------------------------------------- The creditors of ADIC Multi-Strategy Hedge Fund are required to file their proofs of debt by February 14, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 7, 2010. The company's liquidator is: K.D. Blake P.O. Box 493, Grand Cayman KY1-1106 Cayman Islands Robert Arthur Telephone: 345-815-2637 Facsimile: 345-949-7164 Cayman Islands Telephone: 345-949-4800 Facsimile: 345-949-7164 BAER US: Creditors' Proofs of Debt Due January 21 ------------------------------------------------- The creditors of Baer US Venture Equities Ltd. are required to file their proofs of debt by January 21, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Ian D. Stokoe c/o Prue Lawson Telephone: (345) 914 8662 Facsimile: (345) 945 4237 P.O. Box 258, Grand Cayman KY1-1104 Cayman Islands BRANZINO LIMITED: Placed Under Voluntary Wind-Up ------------------------------------------------ On December 10, 2010, the sole shareholder of Branzino Limited resolved to voluntarily wind up the company's operations. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Eagle Holdings Ltd. c/o Barclays Private Bank & Trust (Cayman) Limited FirstCaribbean House, 4th Floor P.O. Box 487, Grand Cayman KY1-1106 Cayman Islands Telephone: 345 949-7128 BT AZURE: Commences Liquidation Proceedings ------------------------------------------- At an extraordinary meeting held on December 9, 2010, the members of BT Azure No.1 Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: David Dyer Deutsche Bank (Cayman) Limited P.O. Box 1984, Boundary Hall Cricket Square, 171 Elgin Avenue Grand Cayman KY1-1104 Cayman Islands CAPELLA HOLDING: Commences Liquidation Proceedings -------------------------------------------------- At an extraordinary meeting held on December 8, 2010, the members of Capella Holding resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: David Dyer Deutsche Bank (Cayman) Limited P.O. Box 1984, Boundary Hall Cricket Square, 171 Elgin Avenue Grand Cayman KY1-1104 Cayman Islands CDW HOLDINGS: Placed Under Voluntary Wind-Up -------------------------------------------- On December 10, 2010, the shareholders of CDW Holdings Limited resolved to voluntarily wind up the company's operations. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Wong Shui Fan Jessie Telephone: (852) 2522-6141 Facsimile: (852) 2845-9135 3708 Jardine House Central, Hong Kong FUSHIMI ESTATE: Creditors' Proofs of Debt Due January 20 -------------------------------------------------------- The creditors of Fushimi Estate Holdings are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Victor Murray c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands GLENWOOD OFFSHORE: Commences Liquidation Proceedings ---------------------------------------------------- On November 22, 2010, the sole shareholder of Glenwood Offshore Multistrategy Fund Ltd. resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Admiral Administration Ltd. Admiral Financial Center 90 Fort Street PO Box 32021, Grand Cayman KY1-1208 Cayman Islands GLENWOOD OFFSHORE: Shareholders Receive Wind-Up Report ------------------------------------------------------ On January 14, 2011, the shareholders of Glenwood Offshore Multistrategy Fund Ltd. received the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Admiral Administration Ltd. Admiral Financial Center 90 Fort Street P.O. Box 32021, Grand Cayman KY1-1208 Cayman Islands HARBOUR CITY: Creditors' Proofs of Debt Due January 20 ------------------------------------------------------ The creditors of Harbour City Funding (1) Limited are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 7, 2010. The company's liquidator is: Jess Shakespeare c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands HIGHBRIDGE INVESTMENTS: Commences Liquidation Proceedings --------------------------------------------------------- On December 8, 2010, the sole shareholder of Highbridge Investments Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Swiss Re Services Limited 30 St Mary's Axe London J.L.S NO.2: Commences Liquidation Proceedings --------------------------------------------- At an extraordinary meeting held on December 9, 2010, the members of J.L.S No.2 Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: David Dyer Deutsche Bank (Cayman) Limited P.O. Box 1984, Boundary Hall Cricket Square, 171 Elgin Avenue Grand Cayman KY1-1104 Cayman Islands KOKORRO LIMITED: Placed Under Voluntary Wind-Up ----------------------------------------------- At an extraordinary general meeting held on December 10, 2010, the shareholder of Kokorro Limited resolved to voluntarily wind-up the company's operations. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694, Grand Cayman Telephone: 949 8666 Facsimile: 949 0626 Cayman Islands LAKEVILLE FUND: Commences Liquidation Proceedings ------------------------------------------------- On December 10, 2010, the sole shareholder of Lakeville Fund Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: Walkers Corporate Services Limited c/o Anthony Johnson Telephone: (345) 914-6314 Walker House 87 Mary Street, George Town Grand Cayman KY1-9005 Cayman Islands LAZARD CONVERTIBLE: Placed Under Voluntary Wind-Up -------------------------------------------------- On December 10, 2010, the sole member of Lazard Convertible Opportunities SPC resolved to voluntarily wind up the company's operations. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Richard Finlay c/o Krysten Lumsden Telephone: (345) 814 7366 Facsimile: (345) 945 3902 P.O. Box 2681, Grand Cayman KY1-1111 Cayman Islands MCKINLEY II: Creditors' Proofs of Debt Due January 20 ----------------------------------------------------- The creditors of Mckinley II Funding, Ltd. are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands MKP GLOBAL: Commences Liquidation Proceedings --------------------------------------------- At an extraordinary meeting held on December 10, 2010, the members of MKP Global Futures Fund Offshore Ltd. resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: Graham Robinson Telephone: (345) 949 7576 Facsimile: (345) 949 8295 P.O. Box 897, Windward 1 Regatta Office Park Grand Cayman KY1-1103 Cayman Islands MKP GLOBAL: Commences Liquidation Proceedings --------------------------------------------- At an extraordinary meeting held on December 10, 2010, the members of MKP Global Futures Master Fund, Ltd. resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: Graham Robinson Telephone: (345) 949 7576 Facsimile: (345) 949 8295 P.O. Box 897, Windward 1 Regatta Office Park Grand Cayman KY1-1103 Cayman Islands NEWSMITH OPPORTUNITIES: Creditors' Proofs of Debt Due January 20 ---------------------------------------------------------------- The creditors of Newsmith Opportunities Hedge Investments II Limited are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 8, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands NINE GRADE: Creditors' Proofs of Debt Due January 20 ---------------------------------------------------- The creditors of Nine Grade Funding II, Ltd. are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands NINE GRADE: Creditors' Proofs of Debt Due January 20 ---------------------------------------------------- The creditors of Nine Grade Funding, Ltd. are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P..O Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands NINE GRADE: Creditors' Proofs of Debt Due January 20 ---------------------------------------------------- The creditors of Nine Grade Funding III, Ltd. are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands NOEMA ADVISORY: Placed Under Voluntary Wind-Up ---------------------------------------------- At an extraordinary general meeting held on December 9, 2010, the shareholder of Noema Advisory Limited resolved to voluntarily wind-up the company's operations. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694, Grand Cayman Telephone: 949 8666 Facsimile: 949 0626 Cayman Islands PANAX EAST: Commences Liquidation Proceedings --------------------------------------------- On November 17, 2010, the sole shareholder of Panax East Fund resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: Walkers Corporate Services Limited c/o Anthony Johnson Telephone: (345) 914-6314 Walker House 87 Mary Street, George Town Grand Cayman KY1-9005 Cayman Islands PANAX WEST: Commences Liquidation Proceedings --------------------------------------------- On November 17, 2010, the sole shareholder of Panax West Fund resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 19, 2011, will be included in the company's dividend distribution. The company's liquidator is: Walkers Corporate Services Limited c/o Anthony Johnson Telephone: (345) 914-6314 Walker House 87 Mary Street, George Town Grand Cayman KY1-9005 Cayman Islands POND INVESTMENTS: Placed Under Voluntary Wind-Up ------------------------------------------------ At an extraordinary general meeting held on December 9, 2010, the shareholder of Pond Investments Ltd. resolved to voluntarily wind- up the company's operations. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694, Grand Cayman Telephone: 949 8666 Facsimile: 949 0626 Cayman Islands RISING SUN: Creditors' Proofs of Debt Due January 20 ---------------------------------------------------- The creditors of Rising Sun Trading Limited are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands SEQUOIA LIMITED: Placed Under Voluntary Wind-Up ----------------------------------------------- At an extraordinary general meeting held on December 10, 2010, the shareholder of Sequoia Limited resolved to voluntarily wind-up the company's operations. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694, Grand Cayman Telephone: 949 8666 Facsimile: 949 0626 Cayman Islands SR COMO: Commences Liquidation Proceedings ------------------------------------------ On December 8, 2010, the sole shareholder of SR Como Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by January 11, 2011, will be included in the company's dividend distribution. The company's liquidator is: Swiss Re Services Limited 30 St Mary's Axe London STONEWALL LTD: Placed Under Voluntary Wind-Up --------------------------------------------- At an extraordinary general meeting held on December 8, 2010, the shareholder of Stonewall Ltd. resolved to voluntarily wind-up the company's operations. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694, Grand Cayman Telephone: 949 8666 Facsimile: 949 0626 Cayman Islands TIERRA ALTA: Creditors' Proofs of Debt Due January 20 ----------------------------------------------------- The creditors of Tierra Alta Funding I, Ltd. are required to file their proofs of debt by January 20, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2010. The company's liquidator is: Marc Randall c/o Maples Liquidation Services (Cayman) Limited P.O. Box 1093, Boundary Hall Grand Cayman KY1-1102 Cayman Islands ===================== P U E R T O R I C O ===================== * PUERTO RICO: Bankruptcies Filed Up 10% in 2010 ------------------------------------------------ Kevin Mead at Caribbean Business reports that a total of 12,380 bankruptcies were filed in Puerto Rico in 2010, a 10% increase over the previous year, despite a modest drop in commercial filings. According to the report, Puerto Rico Boletin, a local bankruptcy data-gathering service, revealed that 1,056 bankruptcies were filed in December, a 10% hike over the same month the previous year. The December bankruptcy total was slightly higher than the 991 cases filed in November, the report relates. Caribbean Business notes that the total accumulated debt associated with the bankruptcies filed through December reached nearly $2.5 billion, a 10% increase over the $2.26 billion owed at the end of 2009. The report says that of the overall debt, $1 billion was secured, $1.3 billion unsecured and $38.1 million was priority debt. Individual bankruptcies accounted for $1.15 billion of the debt, 8% more than last year, Caribbean Business discloses. The report relates that commercial bankruptcies accounted for $1.34 billion of the debt, a 13 percent hike over 2009. However, the report notes, the debt tally for the year is somewhat skewed by the massive bankruptcy filings of Caribbean Petroleum Corp. ($104.4 million) and R&G Financial Corp. ($358.1 million). Excluding those two commercial bankruptcies, total accumulated date associated with bankruptcies in 2010 would be roughly $2 billion, compared with $2.2 billion in 2009, the report says. Caribbean Business states that Chapter 13 (repayment plan) accounted for 8,022 cases through December, which was flat from 2009; Chapter 7 (liquidation) accounted for 4,169 cases, a 36% increase; and Chapter 11 (reorganization), with 158 cases filed through December, up 3% over the 2009 total. The bankruptcy numbers show that the island's agriculture industry was hit hard in 2010, with dairy farms in particular facing financial woes, the report notes. Caribbean Business relates that Chapter 12 (reorganization for farmers) accounted for 31 cases last year, a 63% surge over the 2009 total. Of the 31 farms filing for Chapter 12 reorganization, 13 were dairy farms, the report notes. Commercial bankruptcies totaled 850 through December, 4% less than the 888 lodged in 2009, Caribbean Business says. The report discloses that among the hardest-hit commercial areas through December were: * restaurants (63), * construction contractors (49), * mechanics (30), * cafeterias (27), * beauty parlors (24), * grocers/colmados (20), * medical doctors (18), * gas stations (16), * developers (15), * farmers (15), * supermarkets (14), and * dairies (13). Caribbean Business notes that the 10 largest commercial bankruptcy filings in 2010 were: * R&G Financial Corp. ($358.1 million), * Caribbean Petroleum Corp. ($104.4 million), * Palmas Country Club Inc. ($41.4 million), * Dollar y Algo Extra ($22.7 million), * Damas Hospital ($21.4 million), * Vaqueria Oscar Torres ($13.3 million), * Supermercados Grande ($13.1 million), * Garaje Colon Hijo ($12.4 million), * Western Holding Group ($11.7 million), and * Clendo Reference Lab Clendo Reference Lab ($10.9 million). Other notable bankruptcies included The Bankers Club of Puerto Rico ($8.1 million), the report adds. Caribbean Business says that the 10 municipalities with the highest number of bankruptcy filings in 2010 were: * San Juan (1,272, +9%); * Bayamon (787, +6%); * Ponce (775, +10%); * Carolina (675, +11%); * Caguas (497, -4%); * Mayaguez (358, +83%); * Toa Baja (303, -1%); * Guaynabo (278, +21%); * Arecibo (275, +13%); and * Toa Alta (2642, +10%). The report adds that the 10 municipalities with the most commercial bankruptcy filings through December were: * San Juan (129, +3%); * Caguas (51, -69%); * Guaynabo (48, +23%); * Bayamon (44, +27%); * Ponce (42, +5%); * Carolina (34, -35%); * Arecibo (24, +84%); * Humacao (21, +110%); * Mayaguez (19, unchanged); and * Dorado (13, +44%). =============== X X X X X X X X =============== * Upcoming Meetings, Conferences and Seminars --------------------------------------------- January 26-28, 2011 TURNAROUND MANAGEMENT ASSOCIATION TMA Distressed Investing Conference Aria Las Vegas Contact: http://www.turnaround.org/ Jan. 27-28, 2011 AMERICAN BANKRUPTCY INSTITUTE Rocky Mountain Bankruptcy Conference Westin Tabor Center, Denver, Colo. Contact: 1-703-739-0800; http://www.abiworld.org/ Feb. 3-5, 2011 AMERICAN BANKRUPTCY INSTITUTE Caribbean Insolvency Symposium Westin Casuarina Resort & Spa, Grand Cayman Island Contact: 1-703-739-0800; http://www.abiworld.org/ Feb. 24-25, 2011 AMERICAN BANKRUPTCY INSTITUTE Valcon Four Seasons Las Vegas, Las Vegas, Nev. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 4, 2011 AMERICAN BANKRUPTCY INSTITUTE Bankruptcy Battleground West Hyatt Regency Century Plaza, Los Angeles, Calif. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 7-9, 2011 AMERICAN BANKRUPTCY INSTITUTE Conrad Duberstein Moot Court Competition Duberstein U.S. Courthouse, New York, N.Y. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 10, 2011 AMERICAN BANKRUPTCY INSTITUTE Nuts and Bolts - Florida Tampa, Fla. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 10-12, 2011 AMERICAN BANKRUPTCY INSTITUTE SUCL/ Alexander L. Paskay Seminar on Bankruptcy Law and Practice Marriott Tampa Waterside, Tampa, Fla. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 17-19, 2011 AMERICAN BANKRUPTCY INSTITUTE Byrne Judicial Clerkship Institute Pepperdine University School of Law, Malibu, Calif. Contact: 1-703-739-0800; http://www.abiworld.org/ Mar. 31-Apr. 3, 2011 AMERICAN BANKRUPTCY INSTITUTE Annual Spring Meeting Gaylord National Resort & Convention Center, National Harbor, Md. Contact: 1-703-739-0800; http://www.abiworld.org/ April 27-29, 2011 TURNAROUND MANAGEMENT ASSOCIATION TMA Spring Conference JW Marriott, Chicago, IL Contact: http://www.turnaround.org/ May 5, 2011 AMERICAN BANKRUPTCY INSTITUTE Nuts and Bolts - New York City Association of the Bar of the City of New York, New York, N.Y. Contact: 1-703-739-0800; http://www.abiworld.org/ May 6, 2011 AMERICAN BANKRUPTCY INSTITUTE New York City Bankruptcy Conference Hilton New York, New York, N.Y. Contact: 1-703-739-0800; http://www.abiworld.org/ June 6, 2011 AMERICAN BANKRUPTCY INSTITUTE Canadian-American Cross-Border Insolvency Symposium Fairmont Royal York, Toronto, Ont. Contact: 1-703-739-0800; http://www.abiworld.org/ June 9-12, 2011 AMERICAN BANKRUPTCY INSTITUTE Central States Bankruptcy Workshop Grand Traverse Resort and Spa, Traverse City, Mich. Contact: http://www.abiworld.org/ July 21-24, 2011 AMERICAN BANKRUPTCY INSTITUTE Northeast Bankruptcy Conference Hyatt Regency Newport, Newport, R.I. Contact: 1-703-739-0800; http://www.abiworld.org/ July 27-30, 2011 AMERICAN BANKRUPTCY INSTITUTE Southeast Bankruptcy Workshop The Sanctuary at Kiawah Island, Kiawah Island, S.C. Contact: 1-703-739-0800; http://www.abiworld.org/ Aug. 4-6, 2011 AMERICAN BANKRUPTCY INSTITUTE Mid-Atlantic Bankruptcy Workshop Hotel Hershey, Hershey, Pa. Contact: 1-703-739-0800; http://www.abiworld.org/ Oct. 14, 2011 AMERICAN BANKRUPTCY INSTITUTE NCBJ/ABI Educational Program Tampa Convention Center, Tampa, Fla. Contact: 1-703-739-0800; http://www.abiworld.org/ Oct. __, 2011 AMERICAN BANKRUPTCY INSTITUTE International Insolvency Symposium Dublin, Ireland Contact: 1-703-739-0800; http://www.abiworld.org/ Oct. 25-27, 2011 TURNAROUND MANAGEMENT ASSOCIATION Hilton San Diego Bayfront, San Diego, CA Contact: http://www.turnaround.org/ Dec. 1-3, 2011 AMERICAN BANKRUPTCY INSTITUTE 23rd Annual Winter Leadership Conference La Quinta Resort & Spa, La Quinta, Calif. Contact: 1-703-739-0800; http://www.abiworld.org/ Apr. 19-22, 2012 AMERICAN BANKRUPTCY INSTITUTE Annual Spring Meeting Gaylord National Resort & Convention Center, National Harbor, Md. Contact: 1-703-739-0800; http://www.abiworld.org/ July 14-17, 2012 AMERICAN BANKRUPTCY INSTITUTE Southeast Bankruptcy Workshop The Ritz-Carlton Amelia Island, Amelia Island, Fla. Contact: 1-703-739-0800; http://www.abiworld.org/ Aug. 2-4, 2012 AMERICAN BANKRUPTCY INSTITUTE Mid-Atlantic Bankruptcy Workshop Hyatt Regency Chesapeake Bay, Cambridge, Md. Contact: 1-703-739-0800; http://www.abiworld.org/ Nov. 29 - Dec. 2, 2012 AMERICAN BANKRUPTCY INSTITUTE Winter Leadership Conference JW Marriott Starr Pass Resort & Spa, Tucson, Ariz. Contact: 1-703-739-0800; http://www.abiworld.org/ *********** 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 T. Fernandez, Valerie U. Pascual, Psyche A. Castillon, Julie Anne G. Lopez, Ivy B. Magdadaro, Frauline S. Abangan, and Peter A. Chapman, Editors. Copyright 2011. 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 * * *