/raid1/www/Hosts/bankrupt/TCRLA_Public/111122.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
L A T I N A M E R I C A
Tuesday, November 22, 2011, Vol. 12, No. 231
Headlines
B A H A M A S
CLICO (BAHAMAS): Liquidator Demands TT$365-Mil. From CL Financial
B E R M U D A
CONTINENTAL ALLOYS: Creditors' Proofs of Debt Due Nov. 23
CONTINENTAL ALLOYS: Members' Final Meeting Set for Dec. 14
EQUATORIAL GUINEA: Creditors' Proofs of Debt Due Nov. 23
EQUATORIAL GUINEA: Members' Final Meeting Set for Dec. 14
ETRUSCAN DIAMONDS: Creditors' Proofs of Debt Due Nov. 23
ETRUSCAN DIAMONDS: Member to Receive Wind-Up Report on Dec. 19
RENAISSANCERE RISK: Creditors' Proofs of Debt Due Nov. 23
RENAISSANCERE RISK: Members' Final Meeting Set for Dec. 14
RISPONDE REINSURANCE: Creditors' Proofs of Debt Due Nov. 23
RISPONDE REINSURANCE: Members' Final Meeting Set for Dec. 14
STENA PONTUS: Creditors' Proofs of Debt Due Nov. 23
STENA PONTUS: Members' Final Meeting Set for Dec. 13
TIMICUAN REINSURANCE II: Creditors' Proofs of Debt Due Nov. 23
TIMICUAN REINSURANCE II: Members' Final Meeting Set for Dec. 14
TIMICUAN REINSURANCE III: Creditors' Proofs of Debt Due Nov. 23
TIMICUAN REINSURANCE III: Members' Final Meeting Set for Dec. 14
C A Y M A N I S L A N D S
ANDROS AVIATION: Shareholders' Final Meeting Set for Nov. 25
APEX SILVER: Shareholders' Final Meeting Set for Nov. 25
CASOP BUNKER: Shareholder to Receive Wind-Up Report on Dec. 1
GLOBAL WARMING: Shareholder to Receive Wind-Up Report on Nov. 25
MAPLEWOOD (CAYMAN): Shareholders' Final Meeting Set for Nov. 25
MILLENIA SPRING: Shareholder to Receive Wind-Up Report on Dec. 1
NOVELL FINANCE: Shareholders Receive Wind-Up Report
PATRICK HENRY: Shareholder to Receive Wind-Up Report on Nov. 25
SCP ATLANTIC: Shareholder Receives Wind-Up Report
SCP OCEAN: Shareholder Receives Wind-Up Report
SCP SAKONNET: Shareholder Receives Wind-Up Report
STONE-POINT LTD: Shareholder Receives Wind-Up Report
STORMHARBOUR ALTERNATIVE: Shareholders Receive Wind-Up Report
TOLLY INVESTMENTS: Shareholders' Final Meeting Set for Nov. 28
TOYOSU PROPERTY: Shareholders' Final Meeting Set for Nov. 25
M E X I C O
CREDIT SUISSE: Moody's Says D+ BSFR Not Affected by Rating Review
P A R A G U A Y
* PARAGUAY: To Receive US$51.75 Million Loan for Yguazu Cementos
P U E R T O R I C O
R & J MOTORS: Involuntary Case Converted to Voluntary Ch. 11 Case
R & J MOTORS: Files Schedules of Assets and Liabilities
T R I N I D A D & T O B A G O
HINDU CREDIT: Investigation on Collapse to Take Back Seat
X X X X X X X X
* S&P's 2011 Global Corporate Default Tally Now 41
* Large Companies With Insolvent Balance Sheets
- - - - -
=============
B A H A M A S
=============
CLICO (BAHAMAS): Liquidator Demands TT$365-Mil. From CL Financial
-----------------------------------------------------------------
Andre Bagoo Monday at Trinidad and Tobago Newsday reports that
Clico (Bahamas) Limited liquidator Craig Gomez confirmed that
lawyers have served a statutory demand on CL Financial Limited for
a TT$365 million guarantee as a precursor to a debt recovery
action. Clico (Bahamas) Limited is a subsidiary of Cl Financial
Limited.
The liquidator can be reached at:
Craig A. (Tony) Gomez
Leadenhall Bank & Trust
No.1 Cumberland Hill Street
Nassau, Bahamas
Tel: (242) 323-0640
Fax: (242) 323-0641
Email: cgomez@batelnet.bs
Money retained by Clico (Bahamas) is expected to be used in the
ongoing process of paying policyholders and creditors at the
Bahamas branch, according to Trinidad and Tobago Newsday.
The report notes that CL Financial Limited Chairman Gerald Yetming
said he could not give details of the demand off hand.
Mr. Gomez, Trinidad and Tobago Newsday relates, said that talks to
see the transfer of policies of Clico (Bahamas) to a new insurance
company continue. The tracking of assets considered to be the
property of Clico (Bahamas) also continues to be a challenge, Mr.
Gomez added, the report relays.
Trinidad and Tobago Newsday says that Mr. Gomez confirmed that
records have been subpoenaed from First Citizens Bank (FCB) and a
U.S. bank in relation to the question of payments, which totaled
TT$332 million (US$52.7 million), made to an account held in Clico
(Bahamas)'s name in Trinidad and Tobago.
"I have received documents from Clico Guyana and Clico Suriname
representing claims amounting to US$34 million and US$18.7 million
respectively. . . . My preliminary review of the documentation
suggests that valid insurance policies were never issued by the
Clico (Bahamas). . . . the purported premiums received from both
Guyana and Suriname were remitted directly to a bank account held
in the name of the company at Ocean Bank, Miami, Florida, United
States and to another account held by the company in Trinidad at
First Citizens Bank Limited," Trinidad and Tobago Newsday quoted
Mr. Gomez as saying.
In 2009, the report recalls that Clico (Bahamas) experienced cash
flow problems.
As reported in the Troubled Company Reporter on April 1, 2009,
Mr. Gomez noted that the company had a "considerable amount of
critical claims", which were being reviewed, including death
benefits, emergency surgeries, cancer patient treatments and HIV
patient treatments. In addition, Trinidad and Tobago Express
notes, Mr. Gomez said CLICO Bahamas can't recover the US$73
million it loaned to CLICO Enterprises Ltd as part of a Florida
real estate deal because of the downturn in the US real estate
market. Meanwhile, Trinidad and Tobago Express says CLICO Guyana
and CLICO Suriname are claiming policy packages of US$34 million
and US$15.5 million respectively with CLICO Bahamas.
Clico (Bahamas) Limited (previously known as British Fidelity
Assurance Limited) operates branches in the Bahamas, Belize and
the Turks and Caicos. Its parent company is Clico Holdings
(Barbados) Limited, though the ultimate parent company is CL
Financial Limited.
=============
B E R M U D A
=============
CONTINENTAL ALLOYS: Creditors' Proofs of Debt Due Nov. 23
---------------------------------------------------------
The creditors of Continental Alloys & Services International
Holdings, Ltd. are required to file their proofs of debt by
Nov. 23, 2011, to be included in the company's dividend
distribution.
The company commenced wind-up proceedings on Nov. 7, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
CONTINENTAL ALLOYS: Members' Final Meeting Set for Dec. 14
----------------------------------------------------------
The members of Continental Alloys & Services International
Holdings, Ltd. will hold their final meeting on Dec. 14, 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 Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
EQUATORIAL GUINEA: Creditors' Proofs of Debt Due Nov. 23
--------------------------------------------------------
The creditors of Equatorial Guinea Ltd. are required to file their
proofs of debt by Nov. 23, 2011, to be included in the company's
dividend distribution.
The company commenced wind-up proceedings on Oct. 25, 2011.
The company's liquidator is:
Gary R. Pitman
Chevron House
11 Church Street
Hamilton
Bermuda
EQUATORIAL GUINEA: Members' Final Meeting Set for Dec. 14
---------------------------------------------------------
The members of Equatorial Guinea Ltd. will hold their final
meeting on Dec. 14, 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 Oct. 25, 2011.
The company's liquidator is:
Gary R. Pitman
Chevron House
11 Church Street
Hamilton
Bermuda
ETRUSCAN DIAMONDS: Creditors' Proofs of Debt Due Nov. 23
--------------------------------------------------------
The creditors of Etruscan Diamonds Bermuda Ltd. are required to
file their proofs of debt by Nov. 23, 2011, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 7, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
ETRUSCAN DIAMONDS: Member to Receive Wind-Up Report on Dec. 19
--------------------------------------------------------------
The member of Etruscan Diamonds Bermuda Ltd. will receive on
Dec. 19, 2011, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.
The company commenced wind-up proceedings on Nov. 7, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
RENAISSANCERE RISK: Creditors' Proofs of Debt Due Nov. 23
---------------------------------------------------------
The creditors of RenaissanceRe Risk Advisors Ltd. are required to
file their proofs of debt by Nov. 23, 2011, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
RENAISSANCERE RISK: Members' Final Meeting Set for Dec. 14
----------------------------------------------------------
The members of RenaissanceRe Risk Advisors Ltd. will hold their
final meeting on Dec. 14, 2011, at 11:30 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 Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
RISPONDE REINSURANCE: Creditors' Proofs of Debt Due Nov. 23
-----------------------------------------------------------
The creditors of Risponde Reinsurance Ltd. are required to file
their proofs of debt by Nov. 23, 2011, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
RISPONDE REINSURANCE: Members' Final Meeting Set for Dec. 14
------------------------------------------------------------
The members of Risponde Reinsurance Ltd. will hold their final
meeting on Dec. 14, 2011, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
STENA PONTUS: Creditors' Proofs of Debt Due Nov. 23
---------------------------------------------------
The creditors of Stena Pontus Ltd. are required to file their
proofs of debt by Nov. 23, 2011, to be included in the company's
dividend distribution.
The company commenced wind-up proceedings on Nov. 7, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
STENA PONTUS: Members' Final Meeting Set for Dec. 13
----------------------------------------------------
The members of Stena Pontus Ltd. will hold their final meeting on
Dec. 13, 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 Nov. 7, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
TIMICUAN REINSURANCE II: Creditors' Proofs of Debt Due Nov. 23
--------------------------------------------------------------
The creditors of Timicuan Reinsurance II Ltd. are required to file
their proofs of debt by Nov. 23, 2011, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
TIMICUAN REINSURANCE II: Members' Final Meeting Set for Dec. 14
---------------------------------------------------------------
The members of Timicuan Reinsurance II Ltd. will hold their final
meeting on Dec. 14, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
TIMICUAN REINSURANCE III: Creditors' Proofs of Debt Due Nov. 23
---------------------------------------------------------------
The creditors of Timicuan Reinsurance III Ltd. are required to
file their proofs of debt by Nov. 23, 2011, to be included in the
company's dividend distribution.
The company commenced wind-up proceedings on Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
TIMICUAN REINSURANCE III: Members' Final Meeting Set for Dec. 14
----------------------------------------------------------------
The members of Timicuan Reinsurance III Ltd. will hold their final
meeting on Dec. 14, 2011, at 10:30 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 Nov. 3, 2011.
The company's liquidator is:
Robin J. Mayor
Clarendon House
2 Church Street, Hamilton HM 11
Bermuda
===========================
C A Y M A N I S L A N D S
===========================
ANDROS AVIATION: Shareholders' Final Meeting Set for Nov. 25
------------------------------------------------------------
The shareholders of Andros Aviation Limited will hold their final
meeting on Nov. 25, 2011, at 11:15 a.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
c/o Jennifer Chailler
Telephone: (345) 814 6847
APEX SILVER: Shareholders' Final Meeting Set for Nov. 25
--------------------------------------------------------
The shareholders of Apex Silver Mines will hold their final
meeting on Nov. 25, 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:
Walkers Corporate Services Limited
Walker House, 87 Mary Street, George Town
Grand Cayman KY1-9002
Cayman Islands
c/o Jennifer Chailler
Telephone: (345) 814 6847
CASOP BUNKER: Shareholder to Receive Wind-Up Report on Dec. 1
-------------------------------------------------------------
The shareholder of Casop Bunker Ltd. will receive on Dec. 1, 2011,
at 9:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.
The company's liquidator is:
Linburgh Martin
Intertrust (Cayman) Limited
Harbour Place, Fourth Floor
P.O. Box 1034 Grand Cayman KYI-1102
Cayman Islands
GLOBAL WARMING: Shareholder to Receive Wind-Up Report on Nov. 25
----------------------------------------------------------------
The shareholder of Global Warming Fund will receive on Nov. 25,
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:
Ogier
c/o Michael Lubin
Telephone: (345) 815-1793
Facsimile: (345) 949-9876
MAPLEWOOD (CAYMAN): Shareholders' Final Meeting Set for Nov. 25
---------------------------------------------------------------
The shareholders of Maplewood (Cayman) Limited will hold their
final meeting on Nov. 25, 2011, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.
The company's liquidator is:
David Dyer
Telephone: (345)949-8244
Facsimile: (345)949-5223
P.O. Box 1984 Grand Cayman KY1-1104
Cayman Islands
MILLENIA SPRING: Shareholder to Receive Wind-Up Report on Dec. 1
----------------------------------------------------------------
The shareholder of Millenia Spring Ltd. will receive on Dec. 1,
2011, at 9:00 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.
The company's liquidator is:
Linburgh Martin
Intertrust (Cayman) Limited
Harbour Place, Fourth Floor
P.O. Box 1034 Grand Cayman KYI-1102
Cayman Islands
NOVELL FINANCE: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Novell Finance Limited received on Nov. 17,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.
The company's liquidator is:
Avalon Management Limited
Landmark Square, 1st Floor
64 Earth Close, West Bay Beach
P.O. Box 715 Grand Cayman KY1-1107
Cayman Islands
Facsimile: 1 345 769-9351
PATRICK HENRY: Shareholder to Receive Wind-Up Report on Nov. 25
---------------------------------------------------------------
The shareholder of Patrick Henry Limited will receive on Nov. 25,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.
The company's liquidator is:
Commerce Corporate Services Limited
Telephone: 949 8666
Facsimile: 949 0626
PO Box 694 Grand Cayman
Cayman Islands
Telephone: 949 8666
Facsimile: 949 0626
SCP ATLANTIC: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of SCP Atlantic Fund Ltd received on Nov. 21,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.
The company's liquidator is:
Mr. Robin Lee Mcmahon
c/o Lynden John
Telephone: (345) 814 8915
Facsimile: (345) 814 8529
Ernst & Young Ltd.
62 Forum Lane
Camana Bay
PO Box 510 Grand Cayman KY1-1106
Cayman Islands
SCP OCEAN: Shareholder Receives Wind-Up Report
----------------------------------------------
The shareholder of SCP Ocean Fund Ltd received on Nov. 21, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Mr. Robin Lee Mcmahon
c/o Lynden John
Telephone: (345) 814 8915
Facsimile: (345) 814 8529
Ernst & Young Ltd.
62 Forum Lane
Camana Bay
PO Box 510 Grand Cayman KY1-1106
Cayman Islands
SCP SAKONNET: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of SCP Sakonnet Fund Ltd received on Nov. 21,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.
The company's liquidator is:
Mr. Robin Lee Mcmahon
c/o Lynden John
Telephone: (345) 814 8915
Facsimile: (345) 814 8529
Ernst & Young Ltd.
62 Forum Lane
Camana Bay
PO Box 510 Grand Cayman KY1-1106
Cayman Islands
STONE-POINT LTD: Shareholder Receives Wind-Up Report
----------------------------------------------------
The shareholder of Stone-Point, Ltd. received on Nov. 11, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Commerce Corporate Services Limited
Telephone: 949 8666
Facsimile: 949 0626
PO Box 694 Grand Cayman
Cayman Islands
STORMHARBOUR ALTERNATIVE: Shareholders Receive Wind-Up Report
-------------------------------------------------------------
The shareholders of Stormharbour Alternative Investments Convexity
Fund Ltd. received on Nov. 17, 2011, the liquidator's report on
the company's wind-up proceedings and property disposal.
The company's liquidator is:
Avalon Management Limited
Landmark Square, 1st Floor
64 Earth Close, West Bay Beach
P.O. Box 715 Grand Cayman KY1-1107
Cayman Islands
Facsimile: 1 345 769-9351
TOLLY INVESTMENTS: Shareholders' Final Meeting Set for Nov. 28
--------------------------------------------------------------
The shareholders of Tolly Investments Limited will hold their
final meeting on Nov. 28, 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:
Graham Robinson
c/o Omar Grant
Telephone: (345) 949-7576
Facsimile: (345) 949-8295
P.O. Box 897 Windward 1
Regatta Office Park
Grand Cayman KY1-1103
Cayman Islands
TOYOSU PROPERTY: Shareholders' Final Meeting Set for Nov. 25
------------------------------------------------------------
The shareholders of Toyosu Property Cayman Limited will hold their
final meeting on Nov. 25, 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:
Walkers SPV Limited
Walker House, 87 Mary Street, George Town
Grand Cayman, KY1-9002
Cayman Islands
c/o Jennifer Chailler
Telephone: (345) 814 6847
===========
M E X I C O
===========
CREDIT SUISSE: Moody's Says D+ BSFR Not Affected by Rating Review
-----------------------------------------------------------------
Moody's Investors Service placed on review for possible downgrade
Banco Credit Suisse Mexico, S.A.'s A2 global local currency (GLC)
long term deposit rating. The bank's D+ bank financial strength
rating and the long- and short-term foreign currency deposit
ratings of Baa1/Prime-2 as well as the short-term GLC deposit
ratings are not affected by the review. The Mexican National
Scale ratings of Aaa.mx and MX-1 are also not subject to the
review.
Ratings Rationale
Moody's also placed on review for possible downgrade the A2 long-
term global local currency issuer rating assigned to Casa de Bolsa
Credit Suisse Mexico, S.A. (CB Credit Suisse). The Mexican
National Scale ratings of this entity are not subject to the
review.
The rating actions on Credit Suisse Mexico and CB Credit Suisse
follow Moody's decision to place on review for downgrade the long-
term ratings of Credit Suisse AG (CS, deposits and senior debt at
Aa1, BFSR at B).
Moody's said that Credit Suisse Mexico's GLC deposit rating
incorporates Moody's assessment of the very high probability of
support that could be received from its parent company CS.
Moody's notes that the assumption of parental support is based on
the transfer of a significant portion of the risks inherent to the
Mexican subsidiary to other entities of the Credit Suisse network.
The last rating action on Credit Suisse Mexico was on June 29,
2009, when Moody's assigned A2 and Aaa.mx to Banco Credit Suisse
Mexico's senior debt program. The last rating action on CB Credit
Suisse was on August 28, 2009, when Moody's assigned first time
ratings to the company.
Credit Suisse Mexico is headquartered in Mexico City. As of
September 2011, the bank reported around US$1.3 billion in assets.
===============
P A R A G U A Y
===============
* PARAGUAY: To Receive US$51.75 Million Loan for Yguazu Cementos
----------------------------------------------------------------
The Inter-American Development Bank (IDB) approved a loan of up to
US$51.75 million for part government-owned Yguazu Cementos S.A. of
Paraguay to finance the construction of a cement plant and the
quarrying infrastructure necessary for extracting and crushing
limestone, the basic raw material of cement.
The quarrying infrastructure, as well as a harbor for loading raw
material, will be located in Itapucumi, a highly favorable
economic venture to the north of Asuncion on the Paraguay River.
The plant -- which will have a clinker kiln, a mill and packing
facilities -- will be built in Villa Hayes, located 25 miles from
Asuncion, also on the Paraguay River, in order to facilitate
transportation of the raw materials and cement.
The plant will have an annual production capacity of 400,000 tons
of cement and will make Yguazu Paraguay's largest private
producer, capable of meeting 40% of the national demand, and
eliminating a large part of the existing need for imports. In
2010, Paraguay imported close to 25% of its cement consumption.
"The project is extremely important for making Paraguay more
competitive and increasing private investment in such a key sector
like cement. This project is allowing us to support the effort
the country has been making in developing its infrastructure and
the construction industry," said Martin Duhart, Project Team
Leader of the IDB's Structured and Corporate Finance Department.
"The project will improve the supply and the reliability of local
cement production at a time demand is growing very strongly, and
it will replace imports, thus boosting local employment and
private investment."
Yguazu is controlled by InterCement Brasil S.A., the cement
division of Brazil's Camargo Correa Group; Votorantim Cimentos
S.A., Brazil's largest cement producer, and the Paraguayan
construction company Concret-Mix S.A.
* * *
As of Nov. 21, 2011, the country continues to carry Moody's 'B2'
country ceiling long-term foreign bank deposit rating and 'Ba3'
country ceiling short-term foreign bank deposit rating. The
country also continues to carry Moody's 'B1' issuer currency
issuer ratings. As of Nov. 21, 2011, the country continues to
carry Standard and Poor's 'BB-' long-term debt ratings and 'B'
short-term debt ratings.
=====================
P U E R T O R I C O
=====================
R & J MOTORS: Involuntary Case Converted to Voluntary Ch. 11 Case
-----------------------------------------------------------------
The Hon. Brian K. Tester of the U.S. Bankruptcy Court for the
District of Puerto Rico noted R & J Motors Corp.'s motion for
conversion of its involuntary Chapter 11 case to a voluntary
Chapter 11 of the Bankruptcy Code. In an Oct. 5 order, the Court
stated that it will enter the order for relief accordingly.
On Sept. 18, 2011, petitioning creditors, Angel R. Marzan
Santiago, Impact Extermination, Inc., and Walter Martinez filed an
involuntary petition against the Debtor.
The Debtor wished to convert the instant proceedings into a
voluntary Chapter 11 petition and proceed in accordance to the
provisions of Chapter 11.
About R & J Motors, Corp.
San Juan, Puerto Rico-based R & J Motors, Corp.'s main business is
a car dealership with several locations across the island. The
Company operates the dealerships under the business name of Autos
del Caribe. The Company has dealerships in Rio Piedras, Ave.,
Kennedy, Canovanas and Fajardo.
Angel R. Marzan Santiago, Impact Extermination, Inc., and Walter
Martinez filed an involuntary Chapter 11 petition for R & J Motors
Corp. (Bankr. D. P.R. Case No. Case Number 11-07952) on Sept. 18,
2011. The petitioners are represented by Alexis Fuentes
Hernandez, Esq., at Fuentes Law Offices (E-mail: alex@fuentes-
law.com).
The Debtor disclosed US$9,462,035 in assets and US$28,639,761 in
liabilities as of the Chapter 11 filing.
R & J MOTORS: Files Schedules of Assets and Liabilities
-------------------------------------------------------
R & J Motors Corp. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico its schedules of assets and liabilities,
disclosing:
Name of Schedule Assets Liabilities
---------------- ----------- -----------
A. Real Property US$3,183,000
B. Personal Property $6,279,035
C. Property Claimed as
Exempt
D. Creditors Holding
Secured Claims US$18,027,530
E. Creditors Holding
Unsecured Priority
Claims $513,804
F. Creditors Holding
Unsecured Non-priority
Claims $10,098,427
----------- -----------
TOTAL US$9,462,035 US$28,639,761
About R & J Motors, Corp.
San Juan, Puerto Rico-based R & J Motors, Corp.'s main business is
a car dealership with several locations across the island. The
Company operates the dealerships under the business name of Autos
del Caribe. The Company has dealerships in Rio Piedras, Ave.,
Kennedy, Canovanas and Fajardo.
Angel R. Marzan Santiago, Impact Extermination, Inc., and Walter
Martinez filed an involuntary Chapter 11 petition for R & J Motors
Corp. (Bankr. D. P.R. Case No. Case Number 11-07952) on Sept. 18,
2011. The petitioners are represented by Alexis Fuentes
Hernandez, Esq., at Fuentes Law Offices (E-mail: alex@fuentes-
law.com).
===============================
T R I N I D A D & T O B A G O
===============================
HINDU CREDIT: Investigation on Collapse to Take Back Seat
---------------------------------------------------------
Trinidad Express reports that Sir Anthony Colman, lone
commissioner in the Commission of Enquiry, said the investigation
into the failure of the Hindu Credit Union has to be put on the
back burner of the Commission of Enquiry into the collapse of CL
Financial Limited.
Mr. Colman said that he hoped to run the Commission's
investigations into the HCU parallel with its investigations into
CL Financial but the amount of evidence and documents relating to
CL Financial were "so vast that the Commission simply does not
have the legal or administrative resources to run both
investigations simultaneously. . . . I have decided to complete
the taking of evidence in CLICO before hearing any more evidence
in the Hindu Credit Union," according to Trinidad Express.
The report relays that Mr. Coleman said he knows the importance of
the commission's investigation and the production a report means
to the Hindu Credit Union investors, but he just cannot disrupt
the CLICO work now well underway.
"As for the Hindu Credit Union it is too early to say how long the
relevant evidence will take or when work on preparation of the
report will commence, as I have said I am reluctantly satisfied
that such work will not commence until at least the CLICO evidence
have been completed," Mr. Colman added, Trinidad Express notes.
Hindu Credit Union Co-Operative Society Limited (HCU)
-- http://www.ourhcu.com/-- is headquartered in Borough,
Chaguanas, in Trinidad and Tobago.
* * *
As reported in the Troubled Company Reporter-Latin America on
July 28, 2008, the High Court of Trinidad and Tobago granted the
government full control of Hindu Credit as the company faces
financial difficulties, leaving depositors in limbo despite
requests from lawyers. In June 2008, chartered accountants Ernst
and Young inspected Hindu Credit's books, accounts, and records
after a public outcry and calls for an internal audit. Charles
Mitchell, the Commissioner for Co-Operative Development,
represents Hindu Credit's depositors.
===============
X X X X X X X X
===============
* S&P's 2011 Global Corporate Default Tally Now 41
--------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on U.S.-
based freight service company Trailer Bridge Inc. to 'D' after the
company failed to make principal and interest payments on its
$82.5 million senior secured notes that matured Nov. 15, 2011.
This raises the tally of global corporate defaults in 2011 to 41,
said an article published Nov. 17 by Standard & Poor's Global
Fixed Income Research, titled "Global Corporate Default Update
(Nov. 10 - 16, 2011)." Trailer Bridge is the third company to
default twice this year--the other two are Real Mex Restaurants
Inc. and William Lyon Homes.
Of the total defaulters this year, 30 are based in the U.S., three
are based in New Zealand, two are in Canada, and one each is in
the Czech Republic, Greece, France, Israel, Italy, and Russia. Of
the defaulters by this time in 2010, 55 were U.S.-based issuers,
nine were from the other developed region (Australia, Canada,
Japan, and New Zealand), eight were from the emerging markets, and
two were European issuers.
Seventeen of this year's defaults were due to missed interest or
principal payments and eight were due to distressed exchanges--
both of which were among the top reasons for defaults in 2010.
Bankruptcy filings followed with seven defaults, and regulatory
actions accounted for three. Of the remaining defaults, one
issuer failed to finalize refinancing on its bank loan, one had
its banking license revoked by its country's central bank, another
was appointed a receiver, and three were confidential. By
comparison, in 2010, 28 defaults resulted from missed interest or
principal payments, 25 from Chapter 11 and foreign bankruptcy
filings, 23 from distressed exchanges, three from receiverships,
one from a regulatory directive, and one from administration.
"We expect the U.S. corporate trailing 12-month speculative-grade
default rate to rise to 3.1% by September 2012 from 1.94% as of
September 2011. The baseline projection is still lower than the
long-term average of 4.59%," said Diane Vazza, head of Standard &
Poor's Global Fixed Income Research. "A total of 48 issuers would
need to default in the 12 months from October 2011 to September
2012 to reach this projection. By comparison, 28 speculative-grade
issuers defaulted from October 2010 to September 2011."
In addition to its baseline projection, S&P forecasts the default
rate in its 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 1.6% by September 2012 (25
defaults in the next 12 months). On the other hand, if the
economic recovery stalls and the financial markets deteriorate --
which is its pessimistic scenario -- S&P expects the default rate
to be 5.1% (79 defaults in the next 12 months).
* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
Total
Total Shareholders
Assets Equity
Company Ticker (US$MM) (US$MM)
------- ------ --------- ------------
ARGENTINA
IMPSAT FIBER NET IMPTQ US 535007008 -17164978
IMPSAT FIBER NET 330902Q GR 535007008 -17164978
IMPSAT FIBER-$US IMPTD AR 535007008 -17164978
IMPSAT FIBER NET XIMPT SM 535007008 -17164978
IMPSAT FIBER-BLK IMPTB AR 535007008 -17164978
IMPSAT FIBER-CED IMPT AR 535007008 -17164978
IMPSAT FIBER-C/E IMPTC AR 535007008 -17164978
SOC COMERCIAL PL CAD IX 177502185 -343324574
SOC COMERCIAL PL SCDPF US 177502185 -343324574
SOC COMERCIAL PL CVVIF US 177502185 -343324574
SOC COMERCIAL PL COME AR 177502185 -343324574
SOC COMERCIAL PL COMEC AR 177502185 -343324574
COMERCIAL PL-ADR SCPDS LI 177502185 -343324574
SOC COMERCIAL PL CADN EU 177502185 -343324574
SOC COMERCIAL PL CADN EO 177502185 -343324574
SOC COMERCIAL PL COMED AR 177502185 -343324574
COMERCIAL PLA-BL COMEB AR 177502185 -343324574
SOC COMERCIAL PL CADN SW 177502185 -343324574
SOCOTHERM-SP ADR SOCOY US 103531720 -80758824
SOCOTHERM-5 VT-A STHE5 AR 103531720 -80758824
SOCOTHERM SA-B STHE AR 103531720 -80758824
SNIAFA SA-B SDAGF US 11229696 -26705448
SNIAFA SA SNIA AR 11229696 -26705448
SNIAFA SA-B SNIA5 AR 11229696 -26705448
BELIZE
VARIG SA VAGV3 BZ 966298025 -4695211316
VARIG SA VARGON BZ 966298025 -4695211316
VARIG SA-PREF VAGV4 BZ 966298025 -4695211316
VARIG SA-PREF VARGPN BZ 966298025 -4695211316
AGRENCO LTD AGRE LX 637647275 -312199404
AGRENCO LTD-BDR AGEN11 BZ 637647275 -312199404
BOMBRIL-RIGHTS BOBR1 BZ 451055441 -71738547
BOMBRIL BMBBF US 451055441 -71738547
BOMBRIL-RGTS PRE BOBR2 BZ 451055441 -71738547
BOMBRIL BOBR3 BZ 451055441 -71738547
BOMBRIL SA-ADR BMBPY US 451055441 -71738547
BOMBRIL CIRIO-PF BOBRPN BZ 451055441 -71738547
BOMBRIL SA-ADR BMBBY US 451055441 -71738547
BOMBRIL CIRIO SA BOBRON BZ 451055441 -71738547
BOMBRIL-PREF BOBR4 BZ 451055441 -71738547
CIA PETROLIF-PRF 1CPMPN BZ 377602195 -3014291
CIA PETROLIFERA 1CPMON BZ 377602195 -3014291
CIA PETROLIF-PRF MRLM4B BZ 377602195 -3014291
CIA PETROLIFERA MRLM3 BZ 377602195 -3014291
CIA PETROLIF-PRF MRLM4 BZ 377602195 -3014291
CIA PETROLIFERA MRLM3B BZ 377602195 -3014291
BATTISTELLA BTTL3 BZ 355816098 -2564562
BATTISTELLA-RECE BTTL9 BZ 355816098 -2564562
BATTISTELLA-PREF BTTL4 BZ 355816098 -2564562
BATTISTELLA-RI P BTTL2 BZ 355816098 -2564562
BATTISTELLA-RECP BTTL10 BZ 355816098 -2564562
BATTISTELLA-RIGH BTTL1 BZ 355816098 -2564562
DOCA INVESTI-PFD DOCA4 BZ 354715604 -119368960
DOCAS SA-PREF DOCAPN BZ 354715604 -119368960
DOCA INVESTIMENT DOCA3 BZ 354715604 -119368960
DOCAS SA DOCAON BZ 354715604 -119368960
DOCAS SA-RTS PRF DOCA2 BZ 354715604 -119368960
TELECOMUNICA-ADR 81370Z BZ 296917661 -42804871
TELEBRAS-CEDE BL RCT4B AR 296917661 -42804871
TELEBRAS-PF RCPT CBRZF US 296917661 -42804871
TELEBRAS-CEDEA $ TEL4D AR 296917661 -42804871
TELEBRAS-ADR TBAPY US 296917661 -42804871
TELEBRAS-CEDE PF RCT4C AR 296917661 -42804871
TELEBRAS-ADR TBASY US 296917661 -42804871
TELEBRAS-RECEIPT TLBRUO BZ 296917661 -42804871
TELEBRAS-CM RCPT TELE31 BZ 296917661 -42804871
TELEBRAS-CM RCPT TBRTF US 296917661 -42804871
TELEBRAS-PF RCPT RCTB40 BZ 296917661 -42804871
TELEBRAS SA-PREF TLBRPN BZ 296917661 -42804871
TELEBRAS SA TELB3 BZ 296917661 -42804871
TELEBRAS-RCT PRF TELB10 BZ 296917661 -42804871
TELEBRAS SA-PREF TELB4 BZ 296917661 -42804871
TELEBRAS/W-I-ADR TBH-W US 296917661 -42804871
TELEBRAS-CEDE PF RCT4D AR 296917661 -42804871
TELEBRAS-RTS CMN TCLP1 BZ 296917661 -42804871
TELEBRAS-PF BLCK TELB40 BZ 296917661 -42804871
TELEBRAS-RTS PRF RCTB2 BZ 296917661 -42804871
TELEBRAS-CED C/E TEL4C AR 296917661 -42804871
TELEBRAS-PF RCPT TELE41 BZ 296917661 -42804871
TELEBRAS-PF RCPT TBAPF US 296917661 -42804871
TELEBRAS-CEDE PF RCTB4 AR 296917661 -42804871
TELEBRAS SA-RT TELB9 BZ 296917661 -42804871
TELEBRAS-ADR TBH US 296917661 -42804871
TELEBRAS-RTS CMN RCTB1 BZ 296917661 -42804871
TELEBRAS-ADR RTB US 296917661 -42804871
TELEBRAS-COM RT TELB1 BZ 296917661 -42804871
TELEBRAS SA TBASF US 296917661 -42804871
TELEBRAS-CEDE PF TELB4 AR 296917661 -42804871
TELEBRAS-CM RCPT RCTB31 BZ 296917661 -42804871
TELEBRAS-ADR TBRAY GR 296917661 -42804871
TELEBRAS-RTS PRF TLCP2 BZ 296917661 -42804871
TELEBRAS-PF RCPT RCTB41 BZ 296917661 -42804871
TELEBRAS-PF RCPT RCTB42 BZ 296917661 -42804871
TELEBRAS-RCT RCTB33 BZ 296917661 -42804871
TELEBRAS-CM RCPT RCTB32 BZ 296917661 -42804871
TELEBRAS-ADR TBX GR 296917661 -42804871
TELEBRAS SA TLBRON BZ 296917661 -42804871
TELEBRAS-CM RCPT RCTB30 BZ 296917661 -42804871
TELEBRAS-BLOCK TELB30 BZ 296917661 -42804871
TELEBRAS-PF RCPT TLBRUP BZ 296917661 -42804871
HOTEIS OTHON-PRF HOTHPN BZ 255036149 -42606769
HOTEIS OTHON-PRF HOOT4 BZ 255036149 -42606769
HOTEIS OTHON SA HOTHON BZ 255036149 -42606769
HOTEIS OTHON SA HOOT3 BZ 255036149 -42606769
TEKA TKTQF US 246866965 -392777063
TEKA-PREF TEKAPN BZ 246866965 392777063
TEKA TEKA3 BZ 246866965 -392777063
TEKA-ADR TKTPY US 246866965 -392777063
TEKA TEKAON BZ 246866965 -392777063
TEKA-PREF TEKA4 BZ 246866965 -392777063
TEKA-PREF TKTPF US 246866965 -392777063
TEKA-ADR TKTQY US 246866965 -392777063
TEKA-ADR TEKAY US 246866965 -392777063
PET MANG-RECEIPT 0229296Q BZ 231024467 -184606117
PET MANG-RIGHTS 3678569Q BZ 231024467 -184606117
PET MANG-RT RPMG2 BZ 231024467 -184606117
PETRO MANGUINHOS RPMG3 BZ 231024467 -184606117
PET MANG-RT RPMG1 BZ 231024467 -184606117
PET MANG-RT 0229249Q BZ 231024467 -184606117
PET MANG-RT 4115360Q BZ 231024467 -184606117
PET MANG-RECEIPT 0229292Q BZ 231024467 -184606117
PET MANG-RECEIPT RPMG9 BZ 231024467 -184606117
PET MANG-RIGHTS 3678565Q BZ 231024467 -184606117
PET MANG-RT 0229268Q BZ 231024467 -184606117
PET MANG-RT 4115364Q BZ 231024467 -184606117
PETRO MANGUINHOS MANGON BZ 231024467 -184606117
PETRO MANGUIN-PF MANGPN BZ 231024467 -184606117
PET MANGUINH-PRF RPMG4 BZ 231024467 -184606117
PET MANG-RECEIPT RPMG10 BZ 231024467 -184606117
SANSUY SA SNSYON BZ 200809364 -115213257
SANSUY-PREF A SNSY5 BZ 200809364 -115213257
SANSUY-PREF B SNSY6 BZ 200809364 -115213257
SANSUY SA-PREF A SNSYAN BZ 200809364 -115213257
SANSUY SA-PREF B SNSYBN BZ 200809364 -115213257
SANSUY SNSY3 BZ 200809364 -115213257
DHB IND E COM DHBON BZ 185992309 -151323933
D H B-PREF DHBI4 BZ 185992309 -151323933
D H B DHBI3 BZ 185992309 -151323933
DHB IND E COM-PR DHBPN BZ 185992309 -151323933
BALADARE BLDR3 BZ 159454015 -52992212
FABRICA RENAUX-P FTRX4 BZ 109683743 -48836146
FABRICA RENAUX FTRX3 BZ 109683743 -48836146
FABRICA RENAUX-P FRNXPN BZ 109683743 -48836146
FABRICA TECID-RT FTRX1 BZ 109683743 -48836146
FABRICA RENAUX FRNXON BZ 109683743 -48836146
WETZEL SA MWELON BZ 100017711 -5359345
WETZEL SA-PREF MWELPN BZ 100017711 -5359345
WETZEL SA-PREF MWET4 BZ 100017711 -5359345
WETZEL SA MWET3 BZ 100017711 -5359345
ESTRELA SA ESTR3 BZ 89585906 -80761486
ESTRELA SA ESTRON BZ 89585906 -80761486
ESTRELA SA-PREF ESTR4 BZ 89585906 -80761486
ESTRELA SA-PREF ESTRPN BZ 89585906 -80761486
ACO ALTONA EALT3 BZ 89152030 -98485877
ACO ALTONA SA EAAON BZ 89152030 -98485877
ACO ALTONA-PREF EAAPN BZ 89152030 -98485877
ACO ALTONA-PREF EALT4 BZ 89152030 -98485877
VARIG PART EM-PR VPSC4 BZ 830178286 -495721700
VARIG PART EM SE VPSC3 BZ 830178286 -495721700
TEXTEIS RENAU-RT TXRX2 BZ 730958339 -103943206
TEXTEIS RENAU-RT TXRX1 BZ 730958339 -103943206
TEXTEIS RENAUX RENXPN BZ 730958339 -103943206
TEXTEIS RENA-RCT TXRX9 BZ 730958339 -103943206
TEXTEIS RENA-RCT TXRX10 BZ 730958339 -103943206
TEXTEIS RENAUX RENXON BZ 730958339 -103943206
RENAUXVIEW SA TXRX3 BZ 730958339 -103943206
RENAUXVIEW SA-PF TXRX4 BZ 730958339 -103943206
SCHLOSSER SA SCHON BZ 730367499 -34357832
SCHLOSSER SCLO3 BZ 730367499 -34357832
SCHLOSSER-PREF SCLO4 BZ 730367499 -34357832
SCHLOSSER SA-PRF SCHPN BZ 730367499 -34357832
MINUPAR SA MNPRON BZ 631445339 -60655823
MINUPAR MNPR3 BZ 631445339 -60655823
MINUPAR-RT MNPR1 BZ 631445339 -60655823
MINUPAR-PREF MNPR4 BZ 631445339 -60655823
MINUPAR SA-PREF MNPRPN BZ 631445339 -60655823
MINUPAR-RCT MNPR9 BZ 631445339 -60655823
MINUPAR-RT 9314542Q BZ 631445339 -60655823
MINUPAR-RCT 9314634Q BZ 631445339 -60655823
GRADIENTE EL-PRC IGBCN BZ 610889775 -282692297
GRADIENTE EL-PRB IGBBN BZ 610889775 -282692297
GRADIENTE ELETR IGBON BZ 610889775 -282692297
GRADIENTE-PREF B IGBR6 BZ 610889775 -282692297
GRADIENTE-PREF A IGBR5 BZ 610889775 -282692297
GRADIENTE-PREF C IGBR7 BZ 610889775 -282692297
IGB ELETRONICA IGBR3 BZ 610889775 -282692297
GRADIENTE EL-PRA IGBAN BZ 610889775 -282692297
VARIG PART EM-PR VPTA4 BZ 49432124 -399290396
VARIG PART EM TR VPTA3 BZ 49432124 -399290396
CIMOB PART-PREF GAFP4 BZ 44047411 -45669963
CIMOB PART-PREF GAFPN BZ 44047411 -45669963
CIMOB PARTIC SA GAFON BZ 44047411 -45669963
CIMOB PARTIC SA GAFP3 BZ 44047411 -45669963
WIEST SA WISAON BZ 341082013 -126997429
WIEST SA-PREF WISAPN BZ 341082013 -126997429
WIEST-PREF WISA4 BZ 341082013 -126997429
WIEST WISA3 BZ 341082013 -126997429
RECRUSUL-BON RT RCSL12 BZ 31427766 -30307605
RECRUSUL SA RESLON BZ 31427766 -30307605
RECRUSUL RCSL3 BZ 31427766 -30307605
RECRUSUL - RT 4529781Q BZ 31427766 -30307605
RECRUSUL - RCT RCSL10 BZ 31427766 -30307605
RECRUSUL - RT RCSL1 BZ 31427766 -30307605
RECRUSUL - RCT 4529789Q BZ 31427766 -30307605
RECRUSUL - RT 4529785Q BZ 31427766 -30307605
RECRUSUL - RT RCSL2 BZ 31427766 -30307605
RECRUSUL-BON RT RCSL11 BZ 31427766 -30307605
RECRUSUL - RCT 4529793Q BZ 31427766 -30307605
RECRUSUL-PREF RCSL4 BZ 31427766 -30307605
RECRUSUL SA-PREF RESLPN BZ 31427766 -30307605
RECRUSUL - RCT RCSL9 BZ 31427766 -30307605
SANESALTO SNST3 BZ 310440535 -18432973
BOTUCATU TEXTIL STRP3 BZ 276636045 -7174512
STAROUP SA-PREF STARPN BZ 276636045 -7174512
BOTUCATU-PREF STRP4 BZ 276636045 -7174512
STAROUP SA STARON BZ 276636045 -7174512
CONST BETER-PF B 1COBBN BZ 25469474 -4918659
CONST BETER SA 1007Q BZ 25469474 -4918659
CONST BETER-PR A COBEAN BZ 25469474 -4918659
CONST BETER-PF A 1COBAN BZ 25469474 -4918659
CONST BETER SA COBEON BZ 25469474 -4918659
CONST BETER SA COBE3 BZ 25469474 -4918659
CONST BETER-PR B 1009Q BZ 25469474 -4918659
CONST BETER-PR B COBEBN BZ 25469474 -4918659
CONST BETER-PF B COBE6 BZ 25469474 -4918659
CONST BETER-PFA COBE5B BZ 25469474 -4918659
CONST BETER SA COBE3B BZ 25469474 -4918659
CONST BETER-PF A COBE5 BZ 25469474 -4918659
CONST BETER SA 1COBON BZ 25469474 -4918659
CONST BETER-PR A 1008Q BZ 25469474 -4918659
CONST BETER-PF B COBE6B BZ 25469474 -4918659
FERRAGENS HAGA-P HAGAPN BZ 23732827 -65883555
FER HAGA-PREF HAGA4 BZ 23732827 -65883555
HAGA HAGA3 BZ 23732827 -65883555
FERRAGENS HAGA HAGAON BZ 23732827 -65883555
ALL ORE MINERACA AORE3 BZ 23040051 -8699861
STEEL - RT STLB1 BZ 23040051 -8699861
ALL ORE MINERACA STLB3 BZ 23040051 -8699861
STEEL - RCT ORD STLB9 BZ 23040051 -8699861
NOVA AMERICA-PRF NOVAPN BZ 21287489 -183535527
NOVA AMERICA SA 1NOVON BZ 21287489 -183535527
NOVA AMERICA SA NOVAON BZ 21287489 -183535527
NOVA AMERICA SA NOVA3B BZ 21287489 -183535527
NOVA AMERICA-PRF 1NOVPN BZ 21287489 -183535527
NOVA AMERICA SA NOVA3 BZ 21287489 -183535527
NOVA AMERICA-PRF NOVA4B BZ 21287489 -183535527
NOVA AMERICA-PRF NOVA4 BZ 21287489 -183535527
CAFE BRASILIA-PR CSBRPN BZ 210973691 -903951461
CAF BRASILIA-PRF CAFE4 BZ 210973691 -903951461
CAF BRASILIA CAFE3 BZ 210973691 -903951461
CAFE BRASILIA SA CSBRON BZ 210973691 -903951461
TECEL S JOSE-PRF FTSJPN BZ 190673232 -52580501
TECEL S JOSE SJOS3 BZ 190673232 -52580501
TECEL S JOSE FTSJON BZ 190673232 -52580501
TECEL S JOSE-PRF SJOS4 BZ 190673232 -52580501
NORDON METAL NORDON BZ 153545974 -26859636
NORDON MET NORD3 BZ 153545974 -26859636
NORDON MET-RTS NORD1 BZ 153545974 -26859636
CHIARELLI SA-PRF CCHPN BZ 14960467 -43105640
CHIARELLI SA-PRF CCHI4 BZ 14960467 -43105640
CHIARELLI SA CCHI3 BZ 14960467 -43105640
CHIARELLI SA CCHON BZ 14960467 -43105640
REII INC REIC US 14423532 -3506007
B&D FOOD CORP BDFC US 14423532 -3506007
LATTENO FOOD COR LATF US 14423532 -3506007
B&D FOOD CORP BDFCE US 14423532 -3506007
HERCULES HETA3 BZ 126891179 -170680899
HERCULES SA-PREF HERTPN BZ 126891179 -170680899
HERCULES-PREF HETA4 BZ 126891179 -170680899
HERCULES SA HERTON BZ 126891179 -170680899
ARTHUR LANGE ARLA3 BZ 116422552 -17154461
ARTHUR LANGE SA ALICON BZ 116422552 -17154461
ARTHUR LANG-RC P ARLA10 BZ 116422552 -17154461
ARTHUR LANG-RC C ARLA9 BZ 116422552 -17154461
ARTHUR LAN-DVD P ARLA12 BZ 116422552 -17154461
ARTHUR LAN-DVD C ARLA11 BZ 116422552 -17154461
ARTHUR LANG-RT P ARLA2 BZ 116422552 -17154461
ARTHUR LANGE-PRF ALICPN BZ 116422552 -17154461
ARTHUR LANGE-PRF ARLA4 BZ 116422552 -17154461
ARTHUR LANG-RT C ARLA1 BZ 116422552 -17154461
F GUIMARAES FGUI3 BZ 110165424 -151840377
F GUIMARAES-PREF FGUI4 BZ 110165424 -151840377
FERREIRA GUIM-PR FGUIPN BZ 110165424 -151840377
FERREIRA GUIMARA FGUION BZ 110165424 -151840377
CHILE
EMPRESA DE LOS F 2940894Z CI 1933599104 -50416404
CHILESAT CORP SA TELEX CI 1156945109 -122555290
CLARO COM SA CHILESAT CI 1156945109 -122555290
CHILESAT CO-ADR TL US 1156945109 -122555290
CHILESAT CO-RTS CHISATOS CI 1156945109 -122555290
TELEX-A TELEXA CI 1156945109 -122555290
TELMEX CORP-ADR CSAOY US 1156945109 -122555290
TELEX-RTS TELEXO CI 1156945109 -122555290
PUYEHUE PUYEH CI 27670046 -407979
PUYEHUE RIGHT PUYEHUOS CI 27670046 -407979
***********
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.
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