/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/110919.mbx T R O U B L E D C O M P A N Y R E P O R T E R L A T I N A M E R I C A Monday, September 19, 2011, Vol. 12, No. 185 Headlines C A Y M A N I S L A N D S AMI GP: Creditors' Proofs of Debt Due Sept. 23 AMI GP: Members' Final Meeting Set for Sept. 26 AMI IV-Q: Creditors' Proofs of Debt Due Sept. 23 AMI IV-Q: Members' Final Meeting Set for Sept. 26 AMI IV-P: Creditors' Proofs of Debt Due Sept. 23 AMI IV-P: Members' Final Meeting Set for Sept. 26 AVIATION ONE: Commences Liquidation Proceedings CAPITAL GUIDE: Creditors' Proofs of Debt Due Sept. 28 CLEAR RIVER: Creditors' Proofs of Debt Due September 30 DUNCAN HOLDINGS: Creditors' Proofs of Debt Due Sept. 29 HAMON LIFE: Commences Liquidation Proceedings HMTF-LA I: Creditors' Proofs of Debt Due Sept. 23 HMTF-LA I: Members' Final Meeting Set for Sept. 26 INGDICK CORPORATION: Creditors' Proofs of Debt Due Sept. 28 IOA GP: Creditors' Proofs of Debt Due Sept. 23 IOA GP: Members' Final Meeting Set for Sept. 26 IOA LP: Creditors' Proofs of Debt Due Sept. 23 IOA LP: Members' Final Meeting Set for Sept. 26 IOA PRIVATE: Creditors' Proofs of Debt Due Sept. 23 IOA PRIVATE: Members' Final Meeting Set for September 26 MADB INVESTMENTS: Commences Liquidation Proceedings NBS ADVISORS: Creditors' Proofs of Debt Due Sept. 28 OTEMACHI INVESTMENTS: Commences Liquidation Proceedings PANAM SPORTS GP: Creditors' Proofs of Debt Due Sept. 23 PANAM SPORTS GP: Members' Final Meeting Set for Sept. 26 PANAM SPORTS FUND: Creditors' Proofs of Debt Due Sept. 23 PANAM SPORTS FUND: Members' Final Meeting Set for Sept. 26 PEQUOT HEALTHCARE: Creditors' Proofs of Debt Due Sept. 28 TAIWAN SPECIAL: Creditors' Proofs of Debt Due Sept. 28 E L S A L V A D O R * EL SALVADOR: Gets US$45MM IDB Loan for Public Transport System T R I N I D A D & T O B A G O CL FIN'L: Finance Minister Unveils Plan to Solve CLICO Demise CL FIN'L: Clico Policyholders Sets Court Suit Against Deloitte X X X X X X X X * BOND PRICING: For the Week September 12, to September 16, 2011 - - - - - =========================== C A Y M A N I S L A N D S =========================== AMI GP: Creditors' Proofs of Debt Due Sept. 23 ---------------------------------------------- The creditors of AMI GP, Ltd. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AMI GP: Members' Final Meeting Set for Sept. 26 ----------------------------------------------- The members of AMI GP, Ltd. will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AMI IV-Q: Creditors' Proofs of Debt Due Sept. 23 ------------------------------------------------ The creditors of AMI IV-Q Ltd. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AMI IV-Q: Members' Final Meeting Set for Sept. 26 ------------------------------------------------- The members of AMI IV-Q Ltd. will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AMI IV-P: Creditors' Proofs of Debt Due Sept. 23 ------------------------------------------------ The creditors of AMI IV-P Ltd. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AMI IV-P: Members' Final Meeting Set for Sept. 26 ------------------------------------------------- The members of AMI IV-P Ltd. will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands AVIATION ONE: Commences Liquidation Proceedings ----------------------------------------------- At an extraordinary meeting held on August 10, 2011, the members of Aviation One Holding Company resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by September 13, 2011, will be included in the company's dividend distribution. The company's liquidator is: Essa Zainal c/o Patricia Tricarico Telephone: (345) 949 5122 Facsimile: (345) 949 7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands CAPITAL GUIDE: Creditors' Proofs of Debt Due Sept. 28 ----------------------------------------------------- The creditors of Capital Guide Fund, Limited are required to file their proofs of debt by September 28, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on July 18, 2011. The company's liquidator is: Toufic Chahine Majdalani Building, 6th Floor Maamari Street Wardieh-Clemenceau, Beirut 2039-6509 Lebanon Telephone: 011 9611 487542 Cellular Phone: 011 9613 711411 Block E, 4th Floor Gold Souks, Beirut Central District Beirut, Lebanon Telephone: 011 9611 487542 Cellular Phone: 011 9613 711411 CLEAR RIVER: Creditors' Proofs of Debt Due September 30 ------------------------------------------------------- The creditors of Clear River Capital (Cayman) Limited are required to file their proofs of debt by September 30, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on August 15, 2011. The company's liquidator is: DMS Corporate Services Ltd. c/o Bernadette Bailey-Lewis Telephone: (345) 946 7665 Facsimile: (345) 946 7666 dms House, 2nd Floor P.O. Box 1344 Grand Cayman KY1-1108 Cayman Islands DUNCAN HOLDINGS: Creditors' Proofs of Debt Due Sept. 29 ------------------------------------------------------- The creditors of Duncan Holdings Limited are required to file their proofs of debt by September 29, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 15, 2011. The company's liquidator is: Buchanan Limited c/o Rose Ferguson Telephone: (345) 949-0355 Facsimile: (345) 949-0360 P.O. Box 1170 Grand Cayman KY1-1102 Cayman Islands HAMON LIFE: Commences Liquidation Proceedings --------------------------------------------- On August 10, 2011, the members of Hamon Life Management Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by September 12, 2011, will be included in the company's dividend distribution. The company's liquidator is: Perfect Versino Holdings Limited c/o John Trehey Maples and Calder, Attorneys-at-law The Center, 53rd Floor 99 Queen's Road Central Hong Kong HMTF-LA I: Creditors' Proofs of Debt Due Sept. 23 ------------------------------------------------- The creditors of HMTF-LA I Cable G.P. L.L.C. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands HMTF-LA I: Members' Final Meeting Set for Sept. 26 -------------------------------------------------- The members of HMTF-LA I Cable G.P. L.L.C. will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands INGDICK CORPORATION: Creditors' Proofs of Debt Due Sept. 28 ----------------------------------------------------------- The creditors of Ingdick Corporation Ltd are required to file their proofs of debt by September 28, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 12, 2011. The company's liquidator is: Commerce Corporate Services Limited P.O. Box 694 Grand Cayman Cayman Islands Telephone: 949 8666 Facsimile: 949 0626 IOA GP: Creditors' Proofs of Debt Due Sept. 23 ---------------------------------------------- The creditors of IOA GP LLC are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands IOA GP: Members' Final Meeting Set for Sept. 26 ----------------------------------------------- The members of IOA GP LLC will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands IOA LP: Creditors' Proofs of Debt Due Sept. 23 ---------------------------------------------- The creditors of IOA LP, LLC, are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands IOA LP: Members' Final Meeting Set for Sept. 26 ----------------------------------------------- The members of IOA LP, LLC, will hold their final meeting on September 26, 2011, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands IOA PRIVATE: Creditors' Proofs of Debt Due Sept. 23 --------------------------------------------------- The creditors of IOA Private LP, L.L.C. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands IOA PRIVATE: Members' Final Meeting Set for September 26 -------------------------------------------------------- The members of IOA Private LP, L.L.C. will hold their final meeting on September 26, 2011, to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands MADB INVESTMENTS: Commences Liquidation Proceedings --------------------------------------------------- At an extraordinary meeting held on August 9, 2011, the members of MADB Investments Limited resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by September 12, 2011, will be included in the company's dividend distribution. The company's liquidator is: Essa Zainal c/o Patricia Tricarico Telephone: (345) 949 5122 Facsimile: (345) 949 7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands NBS ADVISORS: Creditors' Proofs of Debt Due Sept. 28 ---------------------------------------------------- The creditors of NBS Advisors Limited are required to file their proofs of debt by September 28, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on July 18, 2011. The company's liquidator is: Toufic Chahine Majdalani Building, 6th Floor Maamari Street Wardieh-Clemenceau, Beirut 2039-6509 Lebanon Telephone: 011 9611 487542 Cellular Phone: 011 9613 711411 Block E, 4th Floor Gold Souks, Beirut Central District Beirut, Lebanon Telephone: 011 9611 487542 Cellular Phone: 011 9613 711411 OTEMACHI INVESTMENTS: Commences Liquidation Proceedings ------------------------------------------------------- On August 10, 2011, the members of Otemachi Investments resolved to voluntarily liquidate the company's business. Only creditors who were able to file their proofs of debt by September 12, 2011, will be included in the company's dividend distribution. The company's liquidator is: Perfect Versino Holdings Limited c/o John Trehey Maples and Calder, Attorneys-at-law The Center, 53rd Floor 99 Queen's Road Central Hong Kong PANAM SPORTS GP: Creditors' Proofs of Debt Due Sept. 23 ------------------------------------------------------- The creditors of Panam Sports G.P. L.L.C. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands PANAM SPORTS GP: Members' Final Meeting Set for Sept. 26 -------------------------------------------------------- The members of Panam Sports G.P. L.L.C. will hold their final meeting on September 26, 2011, to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands PANAM SPORTS FUND: Creditors' Proofs of Debt Due Sept. 23 --------------------------------------------------------- The creditors of Panam Sports Fund IV G.P. L.L.C. are required to file their proofs of debt by September 23, 2011, to be included in the company's dividend distribution. The company commenced wind-up proceedings on August 16, 2011. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands PANAM SPORTS FUND: Members' Final Meeting Set for Sept. 26 ---------------------------------------------------------- The members of Panam Sports Fund IV G.P. L.L.C. will hold their final meeting on September 26, 2011, to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: E. Andrew Hersant Christopher Humphries Stuarts Walker Hersant Telephone: (345) 949 3344 Facsimile: (345) 949 2888 P.O. Box 2510 Grand Cayman KY1-1104 Cayman Islands PEQUOT HEALTHCARE: Creditors' Proofs of Debt Due Sept. 28 --------------------------------------------------------- The creditors of Pequot Healthcare Emerging Markets Fund, Ltd. are required to file their proofs of debt by September 28, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on August 15, 2011. The company's liquidator is: Walkers Corporate Services Limited Walker House, 87 Mary Street, George Town Grand Cayman KY1-9005 Cayman Islands c/o Jennifer Chailler Telephone: (345) 814 6847 TAIWAN SPECIAL: Creditors' Proofs of Debt Due Sept. 28 ------------------------------------------------------ The creditors of Taiwan Special Opportunities Fund III are required to file their proofs of debt by September 28, 2011, to be included in the company's dividend distribution. The company commenced liquidation proceedings on December 9, 2009. The company's liquidator is: Russell Smith BDO CRI (Cayman) Ltd. Floor 2 Building 3 Governors Square 23 Lime Tree Bay Ave PO Box 31229 Grand Cayman KY1 1205 Cayman Islands Telephone: (345) 769-8820 e-mail: rsmith@bdo.ky ====================== E L S A L V A D O R ====================== * EL SALVADOR: Gets US$45MM IDB Loan for Public Transport System ---------------------------------------------------------------- The Inter-American Development Bank approved a US$45 million loan to help El Salvador design, organize and implement an integrated public transportation system that will cut travel time, transportation costs and traffic accidents across the San Salvador Metropolitan Area. The project aims to improve public transit and general traffic in the San Salvador Metropolitan Area. It will help structure the city's public transport sector, providing sustainable mobility opportunities and safe transportation for the population as well as enhancing economic and social development. The project calls for 5.3 km of preferential lanes dedicated to a high-capacity bus service, which aims to cut travel time by 20 percent along the Soyapango-Metrocentro corridor. Boosting accessibility and overall attractiveness of the service, the new transportation system is expected to transport 200,000 passengers per day in 2014, compared to 160,000 in 2011. In addition to the segregated bus lanes, a mixed traffic corridor of approximately 2.5 km will be implemented. Sidewalks leading to the integration terminals and stops along the corridor will facilitate access by pedestrians. Feeder routes from outlying neighborhoods and peripheral towns will connect with the trunk route at the newly-built Soyapango terminal, increasing passenger volume and effectiveness of the service. An integrated fare system covering both the trunk corridor as well as the feeder system will make the service affordable for poorer segments of the population, increasing their access to the job market. Fares will be collected on the basis of prepaid cards, rendering cash redundant and making public transport safer for both citizens and bus drivers. The four-year project includes training activities for current bus operators, who will be granted operation of the high-capacity buses on a concessional basis. An operations control center will schedule and control the buses, regulating the supply provided by bus operators. The IDB loan has an amortization period of 25 years with a grace period of 4 years and a LIBOR-based interest rate. =============================== T R I N I D A D & T O B A G O =============================== CL FIN'L: Finance Minister Unveils Plan to Solve CLICO Demise ------------------------------------------------------------- Guardian Media reports that Trinidad & Tobago Finance Minister Winston Dookeran unveiled an enhanced plan for settlement of the Colonial Life Insurance Company (Trinidad) Limited (CLICO) issue. CLICO is a subsidiary of CL Financial Limited. Minister Dookeran presented the Purchase of Certain Rights and validation Bill 2011, which is intended to bring government closer to resolution of the Clico financial bailout issue, to the House of Representatives for debate, according to Guardian Media. The report notes that Minister Dookeran said the government was seeking to put back certain legal provisions to ensure the company could be restructured without the threat of legal challenges. Minister Dookeran, Guardian Media relates, said the plan provided for the issuance of bonds to be used to retire the remaining indebtedness of policyholders. The report relays that Minister Dookeran said the bonds to be issued possess several features to facilitate their easy administration and minimize the hardships already experienced by investors. Guardian Media notes Minister Dookeran said the bonds were to be issued in electronic form because it was a more efficient system of managing bonds. Guardian Media discloses that the bill provides for the minister to make payment in any form, provides for the bonds to bear the same issue date, despite the date of acceptance by holders, and mutual fund investors. The plan also provides for: * The bonds to issued in denominations of TT$1,000 to facilitate the eventual trading of the bonds on the secondary market; * Bonds shall not be listed on the stock exchange for a period of six months from the date of issue in an effort to make them more attractive for the holders and mutual funds investors to sell their bonds over the counter thereby maximizing their potential recovery; and * The bonds shall be deemed securities in respect of which registration with the Securities and Exchange Commission is not required so as to circumvent any administrative delays associated with having the bonds registered at securities. The bill will ease the hardships faced by approximately 16,000 persons who hold deposits and mutual funds with Clico and British American (Trinidad) Insurance Company to the value of more than TT$75,000, Guardian Media says. Minister Dookeran said the bill provided for government to buy the relevant rights, by making payments in any form, including through the issue of bonds, on assumption that 100% of the investors would offer the Government's offer of payments, Guardian Media notes. Minister Dookeran added that the bonds would not exceed, as the aggregate, the sum of TT$10.7 billion and would result of an annual cost of TT$500 million, Guardian Media discloses. He said after prolonged discussion, involving the Government, the Central Bank and the representatives of the financial sector "we have now enhanced the payout regime that results in the substantial increase in the returns to the investor." "While this new proposal retains a discounting mechanism for the Government bonds of one to ten years maturity, it introduces a new mechanism for the longer maturity bonds, designed to significantly increase the return to investors in the over $75,000 category. . . . This new mechanism utilises the RBL (Republic Bank) shares currently held by Clico in a trust earmarked to benefit the Clico investors and we call it NEL 2," Guardian Media quoted Minister Dookeran as saying. About CL Financial CL Financial Group Limited is a privately held conglomerate in Trinidad and Tobago. Founded as an insurance company by Cyril Duprey, Colonial Life Insurance Company was expanded into a diversified company by his nephew, Lawrence Duprey. CL Financial is now one of the largest local conglomerates in the region, encompassing over 65 companies in 32 countries worldwide with total assets standing at roughly US$100 billion. * * * As reported in the Troubled Company Reporter-Latin America on August 10, 2009, A.M. Best Co. downgraded the financial strength rating to C (Weak) from B (Fair) and issuer credit rating to "ccc" from "bb" of Colonial Life Insurance Company (Trinidad) Limited (CLICO) (Trinidad & Tobago). The ratings remain under review with negative implications. CLICO is an insurance member company of CL Financial Limited (CL Financial), a diversified holding company based in Trinidad & Tobago. According to a TCR-LA report on Feb. 20, 2009, citing Trinidad and Tobago Express, Tobago President George Maxwell Richards signed bailout bills for CL Financial, giving the government the authority to control the company's unit, Colonial Life Insurance Company, and giving the central bank extensive powers to treat with CL Financial's collapse and the consequent systemic crisis. CL FIN'L: Clico Policyholders Sets Court Suit Against Deloitte -------------------------------------------------------------- NationNews.com reports that policyholders in the Colonial Life Insurance Company (Trinidad) Limited (CLICO)/ British American Insurance Co. (BAICO) debacle have set for a court suit to be lodged against judicial manager Deloitte Consulting Limited for its withholding of information on CLICO's current operations. The deadline for the suit is set no later than September 30, according to NationNews.com. CLICO and BAICO are subsidiaries of CL Financial Limited. "There are no more ifs and buts," June Fowler, head of the Barbados Investors and Policyholders Alliance Inc. (BIPA), told the SUNDAY SUN in an interview, NationNews.com relates. NationNews.com relays that Ms. Fowler noted that members were currently "data-gathering" and collecting other information to be submitted to the group's attorney Tarqi Khan. "We are pushing ahead with our plan," she added, NationNews.com discloses. Ms. Fowler complained that there had been no response to BIPA's demands submitted through 300 plus signed members' letters more than three weeks ago, the report adds. About CL Financial CL Financial Group Limited is a privately held conglomerate in Trinidad and Tobago. Founded as an insurance company by Cyril Duprey, Colonial Life Insurance Company was expanded into a diversified company by his nephew, Lawrence Duprey. CL Financial is now one of the largest local conglomerates in the region, encompassing over 65 companies in 32 countries worldwide with total assets standing at roughly US$100 billion. * * * As reported in the Troubled Company Reporter-Latin America on August 10, 2009, A.M. Best Co. downgraded the financial strength rating to C (Weak) from B (Fair) and issuer credit rating to "ccc" from "bb" of Colonial Life Insurance Company (Trinidad) Limited (CLICO) (Trinidad & Tobago). The ratings remain under review with negative implications. CLICO is an insurance member company of CL Financial Limited (CL Financial), a diversified holding company based in Trinidad & Tobago. According to a TCR-LA report on Feb. 20, 2009, citing Trinidad and Tobago Express, Tobago President George Maxwell Richards signed bailout bills for CL Financial, giving the government the authority to control the company's unit, Colonial Life Insurance Company, and giving the central bank extensive powers to treat with CL Financial's collapse and the consequent systemic crisis. =============== X X X X X X X X =============== * BOND PRICING: For the Week September 12, to September 16, 2011 ---------------------------------------------------------------- Issuer Coupon Maturity Currency Price ------ ------ -------- -------- ----- ARGENTINA --------- ARGENT-$DIS 8.28 12/31/2033 USD 73.73 ARGENT-PAR 1.18 12/31/2038 ARS 53.67 ARGENT- DIS 7.82 12/31/2033 EUR 66 ARGENT- DIS 7.82 12/31/2033 EUR 67.75 ARGENT- DIS 4.33 12/31/2033 JPY 42 ARGENT- PAR&GDP 0.45 12/31/2038 JPY 8 BODEN 2014 2 9/30/2014 ARS 33 BOGAR 2018 2 2/4/2018 ARS 30.8 CAYMAN ISLAND ------------- BANCO BPI (CI) 4.15 11/14/2035 EUR 31.4 BCP FINANCE BANK 5.01 3/31/2024 EUR 74.5 BCP FINANCE CO 5.54 EUR 36.18 BCP FINANCE CO 4.23 EUR 36.41 BES FINANCE LTD 5.58 EUR 36.43 BES FINANCE LTD 4.5 EUR 40.08 BES FINANCE LTD 5.77 2/7/2035 EUR 46.13 CHAODA MOD AGRI 3.7 9/1/2015 USD 76 CHINA FORESTRY 10.25 11/17/2015 USD 80 CHINA FORESTRY 10.25 11/17/2015 USD 74 CHINA MED TECH 6.25 12/15/2016 USD 64.45 CHINA MED TECH 4 8/15/2013 USD 69.5 CHINA SUNERGY 4.75 6/15/2013 USD 53 EFG ORA FUNDING 1.7 10/29/2014 EUR 50.43 ESFG INTERNATION 5.75 EUR 38 IMCOPA INTL CAYM 5 12/19/2014 USD 33 JINKOSOLAR HOLD 4 5/15/2016 USD 69.34 SOLARFUN POWER H 3.5 1/15/2018 USD 69.75 SOLARFUN POWER H 3.5 1/15/2018 USD 69.67 SUNTECH POWER 3 3/15/2013 USD 66.66 SUNTECH POWER 3 3/15/2013 USD 68 CHILE ----- AGUAS NUEVAS 3.4 5/15/2012 CLP 1.154 CGE DISTRIBUCION 3.25 12/1/2012 CLP 29.73 ESVAL S.A. 3.8 7/15/2012 CLP 24.87 LA POLAR SA 3.8 10/10/2017 CLP 51.34 MASISA 4.25 10/15/2012 CLP 29.77 QUINENCO SA 3.5 7/21/2013 CLP 24.73 PUERTO RICO ----------- PUERTO RICO CONS 6.2 5/1/2017 USD 59.56 PUERTO RICO CONS 6.5 4/1/2016 USD 60.73 VENEZUELA --------- PETROLEOS DE VEN 5.5 4/12/2037 USD 45.17 PETROLEOS DE VEN 5.37 4/12/2027 USD 48.36 PETROLEOS DE VEN 5.25 4/12/2017 USD 59.79 PETROLEOS DE VEN 5.12 10/28/2016 USD 60.74 PETROLEOS DE VEN 5 10/28/2015 USD 65.18 PETROLEOS DE VEN 8.5 11/2/2017 USD 71.11 PETROLEOS DE VEN 8.5 11/2/2017 USD 71.41 PETROLEOS DE VEN 4.9 10/28/2014 USD 73.49 VENEZUELA 7 3/31/2038 USD 55.88 VENEZUELA 7 3/31/2038 USD 55.75 VENEZUELA 6 12/9/2020 USD 59 VENEZUELA 7.65 4/21/2025 USD 60.25 VENEZUELA 8.25 10/13/2024 USD 64.25 VENEZUELA 9.25 5/7/2028 USD 67 VENEZUELA 7.75 10/13/2019 USD 68 VENEZUELA 9 5/7/2023 USD 68 VENEZUELA 7 12/1/2018 USD 70 VENEZUELA 9.25 9/15/2027 USD 69.35 VENEZUELA 9.25 9/15/2027 USD 67.50 *********** 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, 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 * * *