/raid1/www/Hosts/bankrupt/TCRLA_Public/110426.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, April 26, 2011, Vol. 12, No. 81

                            Headlines



A R G E N T I N A

BAIFOR SRL: Creditors' Proofs of Debt Due August 10
TRIUMPH INT. ARGENTINA: Creditors' Proofs of Debt Due May 27


B E R M U D A

DDJ OCTOBER: Creditors' Proofs of Debt Due April 29
DDJ OCTOBER: Members' Final Meeting Set for May 20
OCTOBER OS: Creditors' Proofs of Debt Due April 29
OCTOBER OS: Members' Final Meeting Set for May 20
SEACO SHIPMANAGEMENT: Creditors' Proofs of Debt Due May 13

SEACO SHIPMANAGEMENT: Member to Receive Wind-Up Report on May 20


C A Y M A N   I S L A N D S

ALPHA WISDOM: Shareholders' Final Meeting Set for May 23
BOREAS INVESTMENTS: Shareholders' Final Meeting Set for May 13
CAI ASIAN: Members' Final Meeting Set for May 18
EI REAL: Shareholders' Final Meeting Set for May 16
LONDON RIVER: Shareholder to Receive Wind-Up Report on May 3

PRIMUS CREDIT: Members' Final Meeting Set for May 12
SOFTWARE LEASING: Members' Final Meeting Set for May 12


J A M A I C A

* JAMAICA: National Debt Falls in March 2010/2011 Fiscal Year


X X X X X X X X

* S&P's 2011 Global Corporate Defaults Now Total 13
* Large Companies With Insolvent Balance Sheets




                            - - - - -


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


BAIFOR SRL: Creditors' Proofs of Debt Due August 10
---------------------------------------------------
Maria Cristina Osso, the court-appointed trustee for Baifor SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until August 10, 2011.

Ms. Osso will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 7 in
Buenos Aires, with the assistance of Clerk No. 14, will determine
if the verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will be
raised by the company and its creditors.

The Trustee can be reached at:

         Maria Cristina Osso
         Av. Corrientes 1675
         Argentina


TRIUMPH INT. ARGENTINA: Creditors' Proofs of Debt Due May 27
------------------------------------------------------------
Jorge Osvaldo Stanislavsky, the court-appointed trustee for
Triumph Int. Argentina SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until May 27, 2011.

Mr. Stanislavsky will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 34, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Jorge Osvaldo Stanislavsky
         Talcahuano 768
         Argentina


=============
B E R M U D A
=============


DDJ OCTOBER: Creditors' Proofs of Debt Due April 29
---------------------------------------------------
The creditors of DDJ October Fund-Offshore, Ltd. are required to
file their proofs of debt by April 29, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on April 14, 2011.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House, 2 Church Street
         Hamilton HM 11
         Bermuda


DDJ OCTOBER: Members' Final Meeting Set for May 20
--------------------------------------------------
The members of DDJ October Fund-Offshore, Ltd. will hold their
final meeting on May 20, 2011, 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 April 14, 2011.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House, 2 Church Street
         Hamilton HM 11
         Bermuda


OCTOBER OS: Creditors' Proofs of Debt Due April 29
--------------------------------------------------
The creditors of October OS Investment Sub II, Ltd. are required
to file their proofs of debt by April 29, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on April 14, 2011.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House, 2 Church Street
         Hamilton HM 11
         Bermuda


OCTOBER OS: Members' Final Meeting Set for May 20
-------------------------------------------------
The members of October OS Investment Sub II, Ltd. will hold their
final meeting on May 20, 2011, 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 April 14, 2011.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House, 2 Church Street
         Hamilton HM 11
         Bermuda


SEACO SHIPMANAGEMENT: Creditors' Proofs of Debt Due May 13
----------------------------------------------------------
The creditors of SEACO Shipmanagement Services Ltd. are required
to file their proofs of debt by May 13, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on April 15, 2011.

The company's liquidator is:

         John O'Kelly-Lynch
         Covenant House, 85 Reid Street
         Hamilton HM 12
         Bermuda


SEACO SHIPMANAGEMENT: Member to Receive Wind-Up Report on May 20
----------------------------------------------------------------
The sole Member of SEACO Shipmanagement Services Ltd. will receive
on May 20, 2011, at 1:00 p.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on April 15, 2011.

The company's liquidator is:

         John O'Kelly-Lynch
         Covenant House, 85 Reid Street
         Hamilton HM 12
         Bermuda


===========================
C A Y M A N   I S L A N D S
===========================


ALPHA WISDOM: Shareholders' Final Meeting Set for May 23
--------------------------------------------------------
The shareholders of Alpha Wisdom Limited will hold their final
meeting on May 23, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         United Microelectronics Corporation
         Telephone:  886-2-26589168
         Facsimile: 886-2-26575299
         8th Floor., No. 68, Sec. 1
         Neihu Rd., Neihu Dist.
         Taipei City 114,
         Taiwan (R.O.C.)


BOREAS INVESTMENTS: Shareholders' Final Meeting Set for May 13
--------------------------------------------------------------
The shareholders of Boreas Investments (Cayman) Limited will hold
their final meeting on May 13, 2011, at 1:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


CAI ASIAN: Members' Final Meeting Set for May 18
------------------------------------------------
The members of Cai Asian Credit Ltd. will hold their final meeting
on May 18, 2011, at 11:30 a.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

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


EI REAL: Shareholders' Final Meeting Set for May 16
---------------------------------------------------
The shareholders of EI Real Estate, Inc. will hold their final
meeting on May 16, 2011, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         George Devertzis
         30, Navarchou Nikodimou str.
         Plaka 105 56
         Athens
         Greece
         Telephone: 0030.210.37.24.967
         Facsimile: 0030.210.37.24.909


LONDON RIVER: Shareholder to Receive Wind-Up Report on May 3
------------------------------------------------------------
The shareholder of London River Limited will receive on May 3,
2011, at 10:30 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Salomao Consulting S.A.
         Trident Chambers
         P.O. Box 146, Road Town
         Tortola
         British Virgin Islands


PRIMUS CREDIT: Members' Final Meeting Set for May 12
----------------------------------------------------
The members of Primus Credit Strategies Master Fund Limited will
hold their final meeting on May 12, 2011, at 10:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

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


SOFTWARE LEASING: Members' Final Meeting Set for May 12
-------------------------------------------------------
The members of Software Leasing International Limited will hold
their final meeting on May 12, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Bernard McGrath
         69 Dr. Roy's Drive, George Town
         P.O. Box 1043 Grand Cayman
         Cayman Islands


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


* JAMAICA: National Debt Falls in March 2010/2011 Fiscal Year
-------------------------------------------------------------
RJR News reports that Jamaica's national debt fell in the last
month of the 2010/2011 fiscal year even though it climbed
significantly over the entire fiscal year.

Data from the Ministry of Finance show that the national debt
declined by JM$628 million over the February to March period,
according to RJR News.

However, RJR News relates, when the debt is analyzed over the
March 2010 to March 2011 period, it showed an increase.

During the one year period, the debt rose by more than JM$136
billion in the 2010/2011 fiscal year, RJR News says.

                           *     *     *

As of February 16, 2011, Jamaica continues to carry Standard and
Poor's "B-" currency long-term debt ratings and "C" currency
short-term debt ratings.  The country continues to carry Moody's
"B3" country ceiling foreign bank deposit rating and "Ba3" country
ceiling long-term foreign currency debt rating.


===============
X X X X X X X X
===============


* S&P's 2011 Global Corporate Defaults Now Total 13
---------------------------------------------------
One Russian bank and two U.S.-based utilities defaulted last week,
raising the 2011 global corporate default tally to 13, said an
article published Friday by Standard & Poor's Global Fixed Income
Research, titled "Global Corporate Default Update
(April 15 - 21, 2011) (Premium)."

"Eight of this year's defaulters are based in the U.S., two are
based in New Zealand, one in Canada, one in the Czech Republic,
and one in Russia," said Diane Vazza, head of Standard & Poor's
Global Fixed Income Research.  "By comparison, 32 global corporate
issuers had defaulted by this time in 2010."

Of these defaulters, 23 were from the U.S., one was from Europe,
two issuers were from the emerging markets, and six were in the
other developed region (Australia, Canada, Japan, and New
Zealand).

S&P noted that it revised the 2011 figures as part of our
quarterly data reconciliation process to account for two issuers
that had ratings withdrawn several months prior to default.  Also,
it added two New Zealand-based issuers that defaulted earlier this
month -- one as a result of regulatory action, and the other
because of a distressed exchange.

"Five of this year's defaults were due to missed interest or
principal payments, and another five were due to distressed
exchange offers -- both among the top reasons for default in
2010," said Ms. Vazza.  Of the remaining three, one issuer
defaulted after it filed for bankruptcy, another had its banking
license revoked by its country's central bank, and the third was
forced into liquidation as a result of regulatory action.

Of the defaults in 2010, 28 defaults resulted from missed interest
or principal payments, 25 defaults resulted from Chapter 11 and
foreign bankruptcy filings, 23 from distressed exchanges, three
from receiverships, one from regulatory directives, and one from
administration.

Standard & Poor's baseline projection for the U.S. corporate
trailing 12-month speculative-grade default rate for March 2012 is
1.6%.  A total of 24 issuers would need to default from April 2011
to March 2012 to reach the forecast.

The projection of 1.6% is another 0.86-percentage-point (or
another 35%) decline from the 2.46% default rate in March 2011.
This rate of decline would be sharp, but slower than the decline
over the past 16 months.  Improved lending conditions and a lower
cost of capital are keeping our default expectations relatively
upbeat in the next 12 months.  S&P is seeing stronger credit
quality, as reflected in fewer downgrades and lower negative bias.
In addition to its baseline projection, S&P forecasts the default
rate in our optimistic and pessimistic scenarios.  In its
optimistic default rate forecast scenario, the economy and the
financial markets improve more than expected.  As a result, S&P
would expect the default rate to be 1.2% (18 defaults in the next
12 months).

On the other hand, if the economic recovery stalls and the
financial markets deteriorate -- which is our pessimistic scenario
-- S&P expects the default rate to be 3.3% (50 defaults) by March
2012.  S&P bases its forecasts on quantitative and qualitative
factors that we consider, including, but not
limited to, Standard & Poor's proprietary default model for the
U.S. corporate speculative-grade bond market.  S&P updates its
outlook for the U.S. issuer-based corporate speculative-grade
default rate each quarter after analyzing the latest economic data
and expectations.


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                         Total
                                         Total    Shareholders
                                         Assets         Equity
Company               Ticker            (US$MM)         (US$MM)
-------               ------          ------------      -------


ARGENTINA

IMPSAT FIBER-$US       IMPTD AR         535007008        -17164978
IMPSAT FIBER NET       330902Q GR       535007008        -17164978
IMPSAT FIBER NET       XIMPT SM         535007008        -17164978
IMPSAT FIBER-BLK       IMPTB AR         535007008        -17164978
IMPSAT FIBER-C/E       IMPTC AR         535007008        -17164978
IMPSAT FIBER-CED       IMPT AR          535007008        -17164978
SOC COMERCIAL PL       CADN EU          143096734       -251846058
SOC COMERCIAL PL       CVVIF US         143096734       -251846058
SOC COMERCIAL PL       COME AR          143096734       -251846058
COMERCIAL PLA-BL       COMEB AR         143096734       -251846058
SOC COMERCIAL PL       SCDPF US         143096734       -251846058
SOC COMERCIAL PL       CADN EO          143096734       -251846058
SOC COMERCIAL PL       CAD IX           143096734       -251846058
COMERCIAL PL-C/E       COMEC AR         143096734       -251846058
SOC COMERCIAL PL       CADN SW          143096734       -251846058
COMERCIAL PLAT-$       COMED AR         143096734       -251846058
COMERCIAL PL-ADR       SCPDS LI         143096734       -251846058
SNIAFA SA              SNIA AR           11229696      -2670544.88
SNIAFA SA-B            SNIA5 AR          11229696      -2670544.88
SNIAFA SA-B            SDAGF US          11229696      -2670544.88


BRAZIL

VARIG SA-PREF          VAGV4 BZ         966298026      -4695211316
VARIG SA-PREF          VARGPN BZ        966298026      -4695211316
VARIG SA               VARGON BZ        966298026      -4695211316
VARIG SA               VAGV3 BZ         966298026      -4695211316
AGRENCO LTD            AGRE LX          637647275       -312199404
AGRENCO LTD-BDR        AGEN11 BZ        637647275       -312199404
LAEP-BDR               MILK11 BZ        439175082        -60172005
LAEP INVESTMENTS       LEAP LX          439175082        -60172005
CIA PETROLIFERA        MRLM3 BZ         377602195      -3014291.72
CIA PETROLIFERA        1CPMON BZ        377602195      -3014291.72
CIA PETROLIF-PRF       MRLM4 BZ         377602195      -3014291.72
CIA PETROLIF-PRF       1CPMPN BZ        377602195      -3014291.72
BOMBRIL SA-ADR         BMBBY US         316331265       -123554206
BOMBRIL-RGTS PRE       BOBR2 BZ         316331265       -123554206
BOMBRIL SA-ADR         BMBPY US         316331265       -123554206
BOMBRIL                BOBR3 BZ         316331265       -123554206
BOMBRIL CIRIO-PF       BOBRPN BZ        316331265       -123554206
BOMBRIL-PREF           BOBR4 BZ         316331265       -123554206
BOMBRIL CIRIO SA       BOBRON BZ        316331265       -123554206
BOMBRIL-RIGHTS         BOBR1 BZ         316331265       -123554206
BOMBRIL                BMBBF US         316331265       -123554206
TELEBRAS-CM RCPT       RCTB32 BZ        269372906      -13465060.7
TELEBRAS-ADR           TBX GR           269372906      -13465060.7
TELEBRAS-CEDE PF       RCT4D AR         269372906      -13465060.7
TELEBRAS-PF RCPT       TLBRUP BZ        269372906      -13465060.7
TELEBRAS-RECEIPT       TLBRUO BZ        269372906      -13465060.7
TELEBRAS-CEDEA $       TEL4D AR         269372906      -13465060.7
TELEBRAS-ADR           RTB US           269372906      -13465060.7
TELEBRAS-ADR           TBRAY GR         269372906      -13465060.7
TELEBRAS-RCT           RCTB33 BZ        269372906      -13465060.7
TELEBRAS/W-I-ADR       TBH-W US         269372906      -13465060.7
TELEBRAS-ADR           TBAPY US         269372906      -13465060.7
TELEBRAS-RTS CMN       TCLP1 BZ         269372906      -13465060.7
TELEBRAS-PF RCPT       TBAPF US         269372906      -13465060.7
TELEBRAS-CM RCPT       TBRTF US         269372906      -13465060.7
TELEBRAS SA-RT         TELB9 BZ         269372906      -13465060.7
TELEBRAS-BLOCK         TELB30 BZ        269372906      -13465060.7
TELECOMUNICA-ADR       81370Z BZ        269372906      -13465060.7
TELEBRAS SA-PREF       TELB4 BZ         269372906      -13465060.7
TELEBRAS-PF BLCK       TELB40 BZ        269372906      -13465060.7
TELEBRAS-RTS PRF       RCTB2 BZ         269372906      -13465060.7
TELEBRAS-CEDE PF       RCT4C AR         269372906      -13465060.7
TELEBRAS SA            TBASF US         269372906      -13465060.7
TELEBRAS-CEDE PF       RCTB4 AR         269372906      -13465060.7
TELEBRAS-ADR           TBH US           269372906      -13465060.7
TELEBRAS-RTS CMN       RCTB1 BZ         269372906      -13465060.7
TELEBRAS-COM RT        TELB1 BZ         269372906      -13465060.7
TELEBRAS-CEDE BL       RCT4B AR         269372906      -13465060.7
TELEBRAS-RTS PRF       TLCP2 BZ         269372906      -13465060.7
TELEBRAS-RCT PRF       TELB10 BZ        269372906      -13465060.7
TELEBRAS-CEDE PF       TELB4 AR         269372906      -13465060.7
TELEBRAS-PF RCPT       RCTB42 BZ        269372906      -13465060.7
TELEBRAS-CED C/E       TEL4C AR         269372906      -13465060.7
TELEBRAS-CM RCPT       RCTB31 BZ        269372906      -13465060.7
TELEBRAS SA            TELB3 BZ         269372906      -13465060.7
TELEBRAS-ADR           TBASY US         269372906      -13465060.7
TELEBRAS-PF RCPT       CBRZF US         269372906      -13465060.7
TELEBRAS SA            TLBRON BZ        269372906      -13465060.7
TELEBRAS-PF RCPT       RCTB41 BZ        269372906      -13465060.7
HOTEIS OTHON SA        HOOT3 BZ         255036150      -42606769.7
HOTEIS OTHON-PRF       HOOT4 BZ         255036150      -42606769.7
HOTEIS OTHON-PRF       HOTHPN BZ        255036150      -42606769.7
HOTEIS OTHON SA        HOTHON BZ        255036150      -42606769.7
TEKA-PREF              TKTPF US         246866965       -392777063
TEKA-ADR               TEKAY US         246866965       -392777063
TEKA-PREF              TEKA4 BZ         246866965       -392777063
TEKA-ADR               TKTPY US         246866965       -392777063
TEKA                   TEKA3 BZ         246866965       -392777063
TEKA-PREF              TEKAPN BZ        246866965       -392777063
TEKA                   TEKAON BZ        246866965       -392777063
TEKA                   TKTQF US         246866965       -392777063
TEKA-ADR               TKTQY US         246866965       -392777063
PET MANG-RECEIPT       RPMG10 BZ        231024467       -184606117
PET MANGUINH-PRF       RPMG4 BZ         231024467       -184606117
PET MANG-RT            4115360Q BZ      231024467       -184606117
PET MANG-RT            RPMG1 BZ         231024467       -184606117
PET MANG-RIGHTS        3678565Q BZ      231024467       -184606117
PET MANG-RECEIPT       RPMG9 BZ         231024467       -184606117
PETRO MANGUINHOS       RPMG3 BZ         231024467       -184606117
PET MANG-RIGHTS        3678569Q BZ      231024467       -184606117
PET MANG-RT            RPMG2 BZ         231024467       -184606117
PET MANG-RT            4115364Q BZ      231024467       -184606117
PETRO MANGUINHOS       MANGON BZ        231024467       -184606117
PETRO MANGUIN-PF       MANGPN BZ        231024467       -184606117
SANSUY-PREF A          SNSY5 BZ         172563384      -94849032.9
SANSUY SA-PREF A       SNSYAN BZ        172563384      -94849032.9
SANSUY                 SNSY3 BZ         172563384      -94849032.9
SANSUY-PREF B          SNSY6 BZ         172563384      -94849032.9
SANSUY SA              SNSYON BZ        172563384      -94849032.9
SANSUY SA-PREF B       SNSYBN BZ        172563384      -94849032.9
DOC IMBITUBA           IMBI3 BZ          96977064      -42592602.5
DOCAS IMBITUB-PR       IMBIPN BZ         96977064      -42592602.5
DOCAS IMBITUBA         IMBION BZ         96977064      -42592602.5
DOC IMBITUB-PREF       IMBI4 BZ          96977064      -42592602.5
DOC IMBITUBA-RTC       8174503Q BZ       96977064      -42592602.5
DOC IMBITUBA-RT        8218594Q BZ       96977064      -42592602.5
DOC IMBITUBA-RTP       8174507Q BZ       96977064      -42592602.5
DOC IMBITUBA-RT        IMBI1 BZ          96977064      -42592602.5
VARIG PART EM-PR       VPSC4 BZ          83017829       -495721700
VARIG PART EM SE       VPSC3 BZ          83017829       -495721700
TEXTEIS RENAU-RT       TXRX2 BZ          73095834       -103943206
TEXTEIS RENAUX         RENXON BZ         73095834       -103943206
TEXTEIS RENA-RCT       TXRX10 BZ         73095834       -103943206
TEXTEIS RENAU-RT       TXRX1 BZ          73095834       -103943206
TEXTEIS RENAUX         RENXPN BZ         73095834       -103943206
TEXTEIS RENA-RCT       TXRX9 BZ          73095834       -103943206
RENAUXVIEW SA-PF       TXRX4 BZ          73095834       -103943206
RENAUXVIEW SA          TXRX3 BZ          73095834       -103943206
FABRICA RENAUX-P       FTRX4 BZ          63865882      -73255215.1
FABRICA RENAUX         FRNXON BZ         63865882      -73255215.1
FABRICA TECID-RT       FTRX1 BZ          63865882      -73255215.1
FABRICA RENAUX-P       FRNXPN BZ         63865882      -73255215.1
FABRICA RENAUX         FTRX3 BZ          63865882      -73255215.1
MINUPAR-RT             MNPR1 BZ          63144534      -60655823.4
MINUPAR SA             MNPRON BZ         63144534      -60655823.4
MINUPAR                MNPR3 BZ          63144534      -60655823.4
MINUPAR SA-PREF        MNPRPN BZ         63144534      -60655823.4
MINUPAR-RCT            MNPR9 BZ          63144534      -60655823.4
VARIG PART EM TR       VPTA3 BZ          49432124       -399290396
VARIG PART EM-PR       VPTA4 BZ          49432124       -399290396
CIMOB PARTIC SA        GAFON BZ          44047412      -45669963.6
CIMOB PART-PREF        GAFP4 BZ          44047412      -45669963.6
CIMOB PART-PREF        GAFPN BZ          44047412      -45669963.6
CIMOB PARTIC SA        GAFP3 BZ          44047412      -45669963.6
BOTUCATU-PREF          STRP4 BZ          27663605      -7174512.03
STAROUP SA             STARON BZ         27663605      -7174512.03
BOTUCATU TEXTIL        STRP3 BZ          27663605      -7174512.03
STAROUP SA-PREF        STARPN BZ         27663605      -7174512.03
CONST BETER-PF B       COBE6 BZ          25469474       -4918659.9
CONST BETER SA         1COBON BZ         25469474       -4918659.9
CONST BETER-PF A       1COBAN BZ         25469474       -4918659.9
CONST BETER-PR A       COBEAN BZ         25469474       -4918659.9
CONST BETER SA         COBEON BZ         25469474       -4918659.9
CONST BETER-PR B       COBEBN BZ         25469474       -4918659.9
CONST BETER-PF A       COBE5 BZ          25469474       -4918659.9
CONST BETER SA         1007Q BZ          25469474       -4918659.9
CONST BETER SA         COBE3B BZ         25469474       -4918659.9
CONST BETER-PF B       1COBBN BZ         25469474       -4918659.9
CONST BETER SA         COBE3 BZ          25469474       -4918659.9
STEEL - RCT ORD        STLB9 BZ          23040051      -8699861.07
STEEL - RT             STLB1 BZ          23040051      -8699861.07
STEEL DO BRASIL        STLB3 BZ          23040051      -8699861.07
FERRAGENS HAGA         HAGAON BZ         21299043      -62858780.7
HAGA                   HAGA3 BZ          21299043      -62858780.7
FERRAGENS HAGA-P       HAGAPN BZ         21299043      -62858780.7
FER HAGA-PREF          HAGA4 BZ          21299043      -62858780.7
CAFE BRASILIA SA       CSBRON BZ         21097370       -903951461
CAFE BRASILIA-PR       CSBRPN BZ         21097370       -903951461
CAF BRASILIA-PRF       CAFE4 BZ          21097370       -903951461
CAF BRASILIA           CAFE3 BZ          21097370       -903951461
TECEL S JOSE-PRF       SJOS4 BZ          19067323      -52580501.1
TECEL S JOSE           SJOS3 BZ          19067323      -52580501.1
TECEL S JOSE-PRF       FTSJPN BZ         19067323      -52580501.1
TECEL S JOSE           FTSJON BZ         19067323      -52580501.1
NORDON MET             NORD3 BZ          16108143      -22352940.6
NORDON METAL           NORDON BZ         16108143      -22352940.6
NORDON MET-RTS         NORD1 BZ          16108143      -22352940.6
REII INC               REIC US           14423532         -3506007
B&D FOOD CORP          BDFCE US          14423532         -3506007
LATTENO FOOD COR       LATF US           14423532         -3506007
B&D FOOD CORP          BDFC US           14423532         -3506007
CHIARELLI SA-PRF       CCHI4 BZ          14300741      -46729432.5
CHIARELLI SA           CCHI3 BZ          14300741      -46729432.5
CHIARELLI SA-PRF       CCHPN BZ          14300741      -46729432.5
CHIARELLI SA           CCHON BZ          14300741      -46729432.5
GAZOLA-RCPT PREF       GAZO10 BZ         12452144      -40298531.2
GAZOLA SA              GAZON BZ          12452144      -40298531.2
GAZOLA SA-DVD PF       GAZO12 BZ         12452144      -40298531.2
GAZOLA SA-PREF         GAZPN BZ          12452144      -40298531.2
GAZOLA-RCPTS CMN       GAZO9 BZ          12452144      -40298531.2
GAZOLA-PREF            GAZO4 BZ          12452144      -40298531.2
GAZOLA                 GAZO3 BZ          12452144      -40298531.2
GAZOLA SA-DVD CM       GAZO11 BZ         12452144      -40298531.2
ARTHUR LANG-RT P       ARLA2 BZ          11642256      -17154461.9
ARTHUR LAN-DVD P       ARLA12 BZ         11642256      -17154461.9
ARTHUR LANG-RT C       ARLA1 BZ          11642256      -17154461.9
ARTHUR LANG-RC C       ARLA9 BZ          11642256      -17154461.9
ARTHUR LANG-RC P       ARLA10 BZ         11642256      -17154461.9
ARTHUR LAN-DVD C       ARLA11 BZ         11642256      -17154461.9
ARTHUR LANGE-PRF       ALICPN BZ         11642256      -17154461.9
ARTHUR LANGE SA        ALICON BZ         11642256      -17154461.9
FERREIRA GUIM-PR       FGUIPN BZ         11016542       -151840377
FERREIRA GUIMARA       FGUION BZ         11016542       -151840377


CHILE

CHILESAT CORP SA       TELEX CI         1.075E+09      -61844614.3
CHILESAT CO-ADR        TL US            1.075E+09      -61844614.3
TELMEX CORP SA         CHILESAT CI      1.075E+09      -61844614.3
CHILESAT CO-RTS        CHISATOS CI      1.075E+09      -61844614.3
TELEX-A                TELEXA CI        1.075E+09      -61844614.3
TELMEX CORP-ADR        CSAOY US         1.075E+09      -61844614.3
TELEX-RTS              TELEXO CI        1.075E+09      -61844614.3


                            ***********

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.


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