/raid1/www/Hosts/bankrupt/TCRLA_Public/120221.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, February 21, 2012, Vol. 13, No. 036



                            Headlines



B E L I Z E

PICKWICK CLUB: Atlantic Bank Sends Firm Into Receivership
MENA GROUP: Wood Depot Goes Into Receivership


B R A Z I L

* BRAZIL: IDB OKs US$131MM Loan for Distribution System


C A Y M A N   I S L A N D S

ASIACREST CLEARWATER: Placed Under Voluntary Wind-Up
ASIACREST DEEPWATER: Placed Under Voluntary Wind-Up
BARIATRIC LIFESTYLE: Commences Liquidation Proceedings
BLUEPIN FUND: Placed Under Voluntary Wind-Up
CHEYNE GLOBAL: Commences Liquidation Proceedings

COCCHINO INVESTMENT: Placed Under Voluntary Wind-Up
DIMENSION CAPITAL: Commences Liquidation Proceedings
DVT HOLDINGS: Commences Liquidation Proceedings
GRANITE FUND: Placed Under Voluntary Wind-Up
GREY K OFFSHORE: Commences Liquidation Proceedings

MEASUREMENT CAPITAL: Commences Liquidation Proceedings
PINKOPALLINO LTD: Placed Under Voluntary Wind-Up
RAGSTONE LTD: Commences Liquidation Proceedings
REFLEXION INVESTMENTS: Commences Liquidation Proceedings
SAL 99A: Placed Under Voluntary Wind-Up

SC US TT: Placed Under Voluntary Wind-Up
SEIRYU ASSET: Commences Liquidation Proceedings
SPECIFICATION CAPITAL: Commences Liquidation Proceedings
SURANYA GLOBAL: Placed Under Voluntary Wind-Up
SURANYA GLOBAL MASTER: Placed Under Voluntary Wind-Up

SV UNSECURED: Commences Liquidation Proceedings
TAG CAYMAN: Placed Under Voluntary Wind-Up
TAG FUSION: Placed Under Voluntary Wind-Up
TOLERANCE CAPITAL: Commences Liquidation Proceedings
ZOOM HOLDINGS: Commences Liquidation Proceedings


J A M A I C A

LIME JAMAICA: Denies Reaching Deal With Competitors


X X X X X X X X

* Large Companies With Insolvent Balance Sheets


                            - - - - -


===========
B E L I Z E
===========


PICKWICK CLUB: Atlantic Bank Sends Firm Into Receivership
---------------------------------------------------------
7 News Belize reports that one of Pickwick Club Limited's
principal investors Billy Musa Sr., said that the firm has very
suddenly been sent into receivership by the Atlantic Bank.

Mr. Musa said that there was no prior notice given and he just
found out that Bob Garcia has been appointed as receiver,
according to 7 News Belize.

The report notes that Mr. Musa admitted that the firm was behind
on payments on its renovations to add a casino and hotel to the
vicinity, and Atlantic Bank had given them until the end of March
to pay off the full indebtedness which is eight million plus
dollars.

Mr. Musa, 7 News Belize discloses, said they were getting their
finances in order to pay the full indebtedness by that time, but
very suddenly, and without notice, the company was sent into
receivership.

Mr. Musa said he is confident that they'll be able to buy its
debts, the report adds.

Pickwick Club Limited owns Belize's oldest and most exclusive
private sports club.


MENA GROUP: Wood Depot Goes Into Receivership
---------------------------------------------
7 News Belize reports that Mena Group's Wood Depot in Belmopan
has also been sent into receivership.

The owners were locked out of the compound because the receiver
Craig Waterman had moved in and locked them out, according 7 News
Belize.

The report notes that the owner's pleaded with authorities to
allow them to get into the compound but they were told they have
to deal with the court.

The company's property will be auctioned on February 20, 7 News
Belize says.


===========
B R A Z I L
===========


* BRAZIL: IDB OKs US$131MM Loan for Distribution System
-------------------------------------------------------
The Inter-American Development Bank has approved a US$131 million
loan to improve electricity distribution in Brazil's Rio Grande
do Sul State.  The financing will be provided to Companhia
Estadual de Distribuicao de Energia Eletrica (CEEE-D), which
distributes one-third of the energy consumed in the state.

In addition to the IDB loan, CEEE-D will provide US$87 million,
bringing the total investment in a program known as Pro-Energia
RS Distribuicao to US$218 million.

According to data from the Brazilian National System Operator
(ONS), the demand for electricity in the area served by CEEE-D
increased approximately 3.2% annually in the recent years, a
trend that is set to continue.

The project will help Rio Grande do Sul state expand and
modernize its distribution system to meet a demand that is
expected to peak during the 2014 World Cup as Porto Alegre, the
state's capital, is one of the hosting-cities.  The resources
will also be employed by CEEE-D to implement an information
technology (IT) system supporting business management.

To address the region's needs, the Program Pro-Energia RS
Distribuicao involves the construction and expansion of
substations, the upgrade of equipments used in these substations,
the construction and expansion of sub-transmission lines, and the
renewal of IT management and business systems.

"Electricity demand has been increasing due to the region's
economic growth, which is expected to peak during the 2014 World
Cup, and investments in the electricity distribution system are
critical to provide reliable and quality services," said Sylvia
Larrea, IDB's project team-leader.

The loan has a 24-year term with a four-year grace period.  The
interest rate is variable and based on LIBOR.


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


ASIACREST CLEARWATER: Placed Under Voluntary Wind-Up
----------------------------------------------------
On Dec. 23, 2011, the sole shareholder of Asiacrest Clearwater
Fund Limited resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Paolo L. Picazo
         Telephone: 852 9088 1000
         Facsimile: 852 3014 0820
         c/o Ogier
         89 Nexus Way Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ASIACREST DEEPWATER: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Dec. 23, 2011, the sole shareholder of Asiacrest Deepwater
Fund Limited resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Paolo L. Picazo
         Telephone: 852 9088 1000
         Facsimile: 852 3014 0820
         c/o Ogier
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


BARIATRIC LIFESTYLE: Commences Liquidation Proceedings
------------------------------------------------------
On Dec. 19, 2011, the directors of Bariatric Lifestyle Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 15, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Baker Tilly (Cayman) Limited
         P.O. Box 888 Governor's Square, West Bay
         Grand Cayman KY1-1103
         Cayman Islands


BLUEPIN FUND: Placed Under Voluntary Wind-Up
--------------------------------------------
On Dec. 12, 2011, the shareholders of Bluepin Fund Ltd. resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Pieter-Jan Van Der Pols
         Telephone: +31 (0) 33 467 3880
         Facsimile: +31 (0) 33 467 3890
         Utrechtseweg 31D
         3811 NA Amersfoort
         The Netherlands


CHEYNE GLOBAL: Commences Liquidation Proceedings
------------------------------------------------
On Dec. 30, 2011, the sole shareholder of Cheyne Global Emerging
Markets Fund Inc. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Feb. 15, 2012, will be included in the company's dividend
distribution.

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


COCCHINO INVESTMENT: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Dec. 28, 2011, the sole shareholder of Cocchino Investment
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 27, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         P.O. Box 30622 Grand Cayman KY1-1203
         Cayman Islands


DIMENSION CAPITAL: Commences Liquidation Proceedings
----------------------------------------------------
On Jan. 4, 2012, the shareholders of Dimension Capital LDC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 8, 2012, 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


DVT HOLDINGS: Commences Liquidation Proceedings
-----------------------------------------------
On Jan. 3, 2012, the shareholders of DVT Holdings Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 7, 2012, 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


GRANITE FUND: Placed Under Voluntary Wind-Up
--------------------------------------------
On Dec. 22, 2011, the shareholders of Granite Fund Limited
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 15, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Xu Yu Felix Lo
         c/o Granite Fund Advisors Limited
         Central Building, Level 9
         1-3 Pedder Street, Hong Kong
         Telephone: +1 852 3975 2782
         Fax: +1 646 248 7688248 283 2524


GREY K OFFSHORE: Commences Liquidation Proceedings
--------------------------------------------------
On Dec. 29, 2011, the sole shareholder of Grey K Offshore Fund,
Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 1, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Mourant Ozannes Cayman Liquidators Limited
         Reference: NDL
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647; or

         Mourant Ozannes Cayman Liquidators Limited
         Reference: Peter Goulden
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647
         Harbour Centre 42 North Church Street
         P.O. Box 1348, George Town
         Grand Cayman KY1-1108
         Cayman Islands


MEASUREMENT CAPITAL: Commences Liquidation Proceedings
------------------------------------------------------
On Jan. 4, 2012, the shareholders of Measurement Capital LDC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 8, 2012, 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


PINKOPALLINO LTD: Placed Under Voluntary Wind-Up
------------------------------------------------
On Dec. 28, 2011, the sole shareholder of Pinkopallino Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 27, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         P.O. Box 30622 Grand Cayman, KY1-1203
         Cayman Islands


RAGSTONE LTD: Commences Liquidation Proceedings
-----------------------------------------------
On Dec. 30, 2011, the sole shareholder of Ragstone Ltd. resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 28, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Stuart Brankin
         Desmond Campbell
         Telephone: (345) 949 5586
         c/o Aston Corporate Managers, Ltd.
         P.O. Box 1981 Grand Cayman KY1-1104
         Cayman Islands


REFLEXION INVESTMENTS: Commences Liquidation Proceedings
--------------------------------------------------------
On Jan. 3, 2012, the shareholders of Reflexion Investments (CI)
SPC resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 15, 2012, will be included in the company's dividend
distribution.

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


SAL 99A: Placed Under Voluntary Wind-Up
---------------------------------------
On Jan. 4, 2012, the shareholders of SAL 99A Limited resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Trident Liquidators (Cayman) Ltd
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949 0880
         Facsimile: (345) 949 0881
         P.O. Box 847 One Capital Place
         Shedden Road, George Town
         Grand Cayman KY1-1103
         Cayman Islands


SC US TT: Placed Under Voluntary Wind-Up
----------------------------------------
On Dec. 30, 2011, the members of SC US TT GP, Ltd resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 16, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Richard Finlay
         c/o Maree Martin
         Telephone: (345) 814 7376
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


SEIRYU ASSET: Commences Liquidation Proceedings
-----------------------------------------------
On Dec. 29, 2011, the sole shareholder of Seiryu Asset Management
(Cayman) Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Jan. 15, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Summit Management Limited
         c/o John Cullinane
         Telephone: (345) 916 6001
         Suite # 3-213, Governors Square
         P.O. Box 32311 Grand Cayman KY1-1209
         Cayman Islands


SPECIFICATION CAPITAL: Commences Liquidation Proceedings
--------------------------------------------------------
On Jan. 4, 2012, the shareholders of Specification Capital LDC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 8, 2012, 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


SURANYA GLOBAL: Placed Under Voluntary Wind-Up
----------------------------------------------
On Dec. 9, 2011, the sole shareholder of Suranya Global
Opportunities Offshore Fund, Ltd. resolved to voluntarily wind up
the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Shameer Jasani
         Telephone: (345) 815-1802
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


SURANYA GLOBAL MASTER: Placed Under Voluntary Wind-Up
-----------------------------------------------------
On Dec. 9, 2011, the sole shareholder of Suranya Global
Opportunities Master Fund, Ltd. resolved to voluntarily wind up
the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Shameer Jasani
         Telephone: (345) 815-1802
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


SV UNSECURED: Commences Liquidation Proceedings
-----------------------------------------------
On Dec. 29, 2011, the sole shareholder of SV Unsecured Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 15, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Summit Management Limited
         c/o John Cullinane
         Telephone: (345) 916 6001
         Suite # 3-213, Governors Square
         P.O. Box 32311 Grand Cayman KY1-1209
         Cayman Islands


TAG CAYMAN: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 20, 2011, the shareholders of Tag Cayman Fusion Fund,
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         James F. Peters Jr.
         139 S. Old Woodward
         Birmingham, Michigan 48009
         Telephone: +1 248 282 2530
         Facsimile: +1 248 283 2524


TAG FUSION: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 20, 2011, the shareholders of Tag Fusion Master Fund, LLC
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Feb. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         James F. Peters Jr.
         139 S. Old Woodward
         Birmingham, Michigan 48009
         Telephone: +1 248 282 2530
         Facsimile: +1 248 283 2524


TOLERANCE CAPITAL: Commences Liquidation Proceedings
----------------------------------------------------
On Jan. 4, 2012, the shareholders of Tolerance Capital LDC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 8, 2012, 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


ZOOM HOLDINGS: Commences Liquidation Proceedings
------------------------------------------------
On Jan. 5, 2012, the shareholders of Zoom Holdings Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Feb. 9, 2012, 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


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


LIME JAMAICA: Denies Reaching Deal With Competitors
---------------------------------------------------
RJR News reports that LIME (formerly Cable & Wireless Jamaica
Limited) denied Jamaica Ministry of Technology's disclosure that
an agreement has been reached among players in the industry.

Technology Minister Phillip Paulwell said he had reached a pact
with the country's three main telecoms provider, Lime, Digicel
Group Limited and Flow Jamaica; to improve the current regulatory
environment, according to RJR News.  The report relates that Mr.
Paulwell said the discussions which took place over the last
three weeks ended with an agreement for the betterment of the
industry and the nation as a whole.

RJR News notes that LIME said while there is no agreement in
place it's encouraged by Mr. Paulwell comments that he's seeking
to move quickly to reform Jamaica's telecoms legislation.

This will reportedly be done by enacting emergency legislation
and implementing the rates recommended by the Office of Utilities
Regulation, RJR News relays.

RJR News discloses that LIME has called on the Government to
address the unfair regulation as a matter of urgency, to ensure
that consumers receive a better deal in a competitive market.


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


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
                                                       Total
                                   Total            Shareholders
                                   Assets             Equity
Company                Ticker     (US$MM)             (US$MM)
-------                ------    ---------        ------------

ARGENTINA
---------
IMPSAT FIBER-$US      IMPTD AR         535007008       -17164978
IMPSAT FIBER-CED      IMPT AR          535007008       -17164978
IMPSAT FIBER NET      XIMPT SM         535007008       -17164978
IMPSAT FIBER-C/E      IMPTC AR         535007008       -17164978
IMPSAT FIBER NET      IMPTQ US         535007008       -17164978
IMPSAT FIBER NET      330902Q GR       535007008       -17164978
IMPSAT FIBER-BLK      IMPTB AR         535007008       -17164978
SOC COMERCIAL PL      COMEC AR         167911092      -342440147
SOC COMERCIAL PL      CADN EU          167911092      -342440147
SOC COMERCIAL PL      COME AR          167911092      -342440147
SOC COMERCIAL PL      SCDPF US         167911092      -342440147
SOC COMERCIAL PL      CADN EO          167911092      -342440147
SOC COMERCIAL PL      CADN SW          167911092      -342440147
SOC COMERCIAL PL      CVVIF US         167911092      -342440147
SOC COMERCIAL PL      CAD IX           167911092      -342440147
SOC COMERCIAL PL      COMED AR         167911092      -342440147
COMERCIAL PL-ADR      SCPDS LI         167911092      -342440147
COMERCIAL PLA-BL      COMEB AR         167911092      -342440147
SNIAFA SA-B           SNIA5 AR          11229696     -2670544.88
SNIAFA SA-B           SDAGF US          11229696     -2670544.88
SNIAFA SA             SNIA AR           11229696     -2670544.88


BELIZE
------

CELGPAR               GPAR3 BZ         3.959E+09      -418654757
VARIG SA-PREF         VAGV4 BZ         966298026     -4695211316
VARIG SA-PREF         VARGPN BZ        966298026     -4695211316
VARIG SA              VAGV3 BZ         966298026     -4695211316
VARIG SA              VARGON BZ        966298026     -4695211316
PORTX OPERA-GDR       PXTPY US         734596799     -5675399.32
PORTX OPERACOES       PRTX3 BZ         734596799     -5675399.32
AGRENCO LTD-BDR       AGEN11 BZ        637647275      -312199404
AGRENCO LTD           AGRE LX          637647275      -312199404
BOMBRIL-PREF          BOBR4 BZ         451055441       -71738547
BOMBRIL SA-ADR        BMBBY US         451055441       -71738547
BOMBRIL               BMBBF US         451055441       -71738547
BOMBRIL               BOBR3 BZ         451055441       -71738547
BOMBRIL SA-ADR        BMBPY US         451055441       -71738547
BOMBRIL-RGTS PRE      BOBR2 BZ         451055441       -71738547
BOMBRIL-RIGHTS        BOBR1 BZ         451055441       -71738547
BOMBRIL CIRIO SA      BOBRON BZ        451055441       -71738547
BOMBRIL CIRIO-PF      BOBRPN BZ        451055441       -71738547
PETRO MANGUINHOS      RPMG3 BZ         418867615       -98663724
PET MANG-RT           RPMG1 BZ         418867615       -98663724
PETRO MANGUINHOS      MANGON BZ        418867615       -98663724
PET MANG-RECEIPT      RPMG10 BZ        418867615       -98663724
PET MANG-RT           0229249Q BZ      418867615       -98663724
PET MANG-RECEIPT      0229292Q BZ      418867615       -98663724
PET MANGUINH-PRF      RPMG4 BZ         418867615       -98663724
PET MANG-RT           RPMG2 BZ         418867615       -98663724
PET MANG-RECEIPT      0229296Q BZ      418867615       -98663724
PET MANG-RIGHTS       3678565Q BZ      418867615       -98663724
PET MANG-RECEIPT      RPMG9 BZ         418867615       -98663724
PET MANG-RIGHTS       3678569Q BZ      418867615       -98663724
PETRO MANGUIN-PF      MANGPN BZ        418867615       -98663724
PET MANG-RT           0229268Q BZ      418867615       -98663724
PET MANG-RT           4115364Q BZ      418867615       -98663724
PET MANG-RT           4115360Q BZ      418867615       -98663724
CIA PETROLIFERA       MRLM3B BZ        377602195     -3014291.72
CIA PETROLIF-PRF      MRLM4 BZ         377602195     -3014291.72
CIA PETROLIF-PRF      1CPMPN BZ        377602195     -3014291.72
CIA PETROLIFERA       MRLM3 BZ         377602195     -3014291.72
CIA PETROLIFERA       1CPMON BZ        377602195     -3014291.72
CIA PETROLIF-PRF      MRLM4B BZ        377602195     -3014291.72
BATTISTELLA           BTTL3 BZ         313830220     -5623755.88
BATTISTELLA-RECP      BTTL10 BZ        313830220     -5623755.88
BATTISTELLA-RECE      BTTL9 BZ         313830220     -5623755.88
BATTISTELLA-RIGH      BTTL1 BZ         313830220     -5623755.88
BATTISTELLA-PREF      BTTL4 BZ         313830220     -5623755.88
BATTISTELLA-RI P      BTTL2 BZ         313830220     -5623755.88
HOTEIS OTHON-PRF      HOTHPN BZ        309799346       -23928667
HOTEIS OTHON SA       HOTHON BZ        309799346       -23928667
HOTEIS OTHON SA       HOOT3 BZ         309799346       -23928667
HOTEIS OTHON-PRF      HOOT4 BZ         309799346       -23928667
TEKA                  TEKAON BZ        278124701      -447124084
TEKA-ADR              TKTPY US         278124701      -447124084
TEKA-ADR              TKTQY US         278124701      -447124084
TEKA                  TKTQF US         278124701      -447124084
TEKA                  TEKA3 BZ         278124701      -447124084
TEKA-PREF             TEKA4 BZ         278124701      -447124084
TEKA-PREF             TKTPF US         278124701      -447124084
TEKA-PREF             TEKAPN BZ        278124701      -447124084
TEKA-ADR              TEKAY US         278124701      -447124084
DOCAS SA              DOCAON BZ        265185849      -158092426
DOCA INVESTI-PFD      DOCA4 BZ         265185849      -158092426
DOCAS SA-RTS PRF      DOCA2 BZ         265185849      -158092426
DOCA INVESTIMENT      DOCA3 BZ         265185849      -158092426
DOCAS SA-PREF         DOCAPN BZ        265185849      -158092426
SANSUY SA             SNSYON BZ        180443812      -114112111
SANSUY SA-PREF B      SNSYBN BZ        180443812      -114112111
SANSUY SA-PREF A      SNSYAN BZ        180443812      -114112111
SANSUY-PREF B         SNSY6 BZ         180443812      -114112111
SANSUY                SNSY3 BZ         180443812      -114112111
SANSUY-PREF A         SNSY5 BZ         180443812      -114112111
DHB IND E COM         DHBON BZ         155020175      -122349774
D H B-PREF            DHBI4 BZ         155020175      -122349774
D H B                 DHBI3 BZ         155020175      -122349774
DHB IND E COM-PR      DHBPN BZ         155020175      -122349774
TEXTEIS RENA-RCT      TXRX10 BZ        133619338     -68177415.4
RENAUXVIEW SA         TXRX3 BZ         133619338     -68177415.4
RENAUXVIEW SA-PF      TXRX4 BZ         133619338     -68177415.4
TEXTEIS RENAU-RT      TXRX1 BZ         133619338     -68177415.4
TEXTEIS RENAUX        RENXPN BZ        133619338     -68177415.4
TEXTEIS RENA-RCT      TXRX9 BZ         133619338     -68177415.4
TEXTEIS RENAU-RT      TXRX2 BZ         133619338     -68177415.4
TEXTEIS RENAUX        RENXON BZ        133619338     -68177415.4
MINUPAR               MNPR3 BZ         130265489     -6044124.99
MINUPAR-RCT           9314634Q BZ      130265489     -6044124.99
MINUPAR SA-PREF       MNPRPN BZ        130265489     -6044124.99
MINUPAR-PREF          MNPR4 BZ         130265489     -6044124.99
MINUPAR-RT            9314542Q BZ      130265489     -6044124.99
MINUPAR-RCT           MNPR9 BZ         130265489     -6044124.99
MINUPAR-RT            MNPR1 BZ         130265489     -6044124.99
MINUPAR SA            MNPRON BZ        130265489     -6044124.99
BUETTNER SA-PRF       BUETPN BZ         97195114     -13140028.8
BUETTNER              BUET3 BZ          97195114     -13140028.8
BUETTNER SA-RT P      BUET2 BZ          97195114     -13140028.8
BUETTNER SA-RTS       BUET1 BZ          97195114     -13140028.8
BUETTNER SA           BUETON BZ         97195114     -13140028.8
BUETTNER-PREF         BUET4 BZ          97195114     -13140028.8
FABRICA RENAUX-P      FRNXPN BZ         95282688       -59034912
FABRICA RENAUX        FTRX3 BZ          95282688       -59034912
FABRICA TECID-RT      FTRX1 BZ          95282688       -59034912
FABRICA RENAUX-P      FTRX4 BZ          95282688       -59034912
FABRICA RENAUX        FRNXON BZ         95282688       -59034912
COBRASMA SA           COBRON BZ         93053413     -2050908520
COBRASMA-PREF         CBMA4 BZ          93053413     -2050908520
COBRASMA              CBMA3 BZ          93053413     -2050908520
COBRASMA SA-PREF      COBRPN BZ         93053413     -2050908520
ESTRELA SA-PREF       ESTR4 BZ          92218510     -92769915.9
ESTRELA SA            ESTRON BZ         92218510     -92769915.9
ESTRELA SA            ESTR3 BZ          92218510     -92769915.9
ESTRELA SA-PREF       ESTRPN BZ         92218510     -92769915.9
GRADIENTE-PREF A      IGBR5 BZ          69132281      -253174445
IGB ELETRONICA        IGBR3 BZ          69132281      -253174445
GRADIENTE-PREF C      IGBR7 BZ          69132281      -253174445
GRADIENTE EL-PRA      IGBAN BZ          69132281      -253174445
GRADIENTE ELETR       IGBON BZ          69132281      -253174445
GRADIENTE EL-PRC      IGBCN BZ          69132281      -253174445
GRADIENTE EL-PRB      IGBBN BZ          69132281      -253174445
GRADIENTE-PREF B      IGBR6 BZ          69132281      -253174445
SCHLOSSER-PREF        SCLO4 BZ          61819354     -42308353.6
SCHLOSSER             SCLO3 BZ          61819354     -42308353.6
SCHLOSSER SA-PRF      SCHPN BZ          61819354     -42308353.6
SCHLOSSER SA          SCHON BZ          61819354     -42308353.6
CAF BRASILIA-PRF      CAFE4 BZ          49512076      -999279159
CAF BRASILIA          CAFE3 BZ          49512076      -999279159
CAFE BRASILIA-PR      CSBRPN BZ         49512076      -999279159
CAFE BRASILIA SA      CSBRON BZ         49512076      -999279159
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
RECRUSUL - RT         RCSL1 BZ          42802194     -19134971.9
RECRUSUL SA-PREF      RESLPN BZ         42802194     -19134971.9
RECRUSUL - RCT        4529793Q BZ       42802194     -19134971.9
RECRUSUL - RT         4529781Q BZ       42802194     -19134971.9
RECRUSUL SA           RESLON BZ         42802194     -19134971.9
RECRUSUL - RCT        0163583D BZ       42802194     -19134971.9
RECRUSUL-BON RT       RCSL12 BZ         42802194     -19134971.9
RECRUSUL - RCT        RCSL10 BZ         42802194     -19134971.9
RECRUSUL - RCT        4529789Q BZ       42802194     -19134971.9
RECRUSUL-BON RT       RCSL11 BZ         42802194     -19134971.9
RECRUSUL - RT         0163580D BZ       42802194     -19134971.9
RECRUSUL - RT         RCSL2 BZ          42802194     -19134971.9
RECRUSUL - RT         0163579D BZ       42802194     -19134971.9
RECRUSUL-PREF         RCSL4 BZ          42802194     -19134971.9
RECRUSUL              RCSL3 BZ          42802194     -19134971.9
RECRUSUL - RCT        0163582D BZ       42802194     -19134971.9
RECRUSUL - RCT        RCSL9 BZ          42802194     -19134971.9
RECRUSUL - RT         4529785Q BZ       42802194     -19134971.9
WIEST-PREF            WISA4 BZ          34108201      -126997429
WIEST SA-PREF         WISAPN BZ         34108201      -126997429
WIEST                 WISA3 BZ          34108201      -126997429
WIEST SA              WISAON BZ         34108201      -126997429
SANESALTO             SNST3 BZ          31802628     -2924062.87
CONST BETER SA        1007Q BZ          31374374     -1555470.16
CONST BETER-PFA       COBE5B BZ         31374374     -1555470.16
CONST BETER-PR B      COBEBN BZ         31374374     -1555470.16
CONST BETER SA        COBEON BZ         31374374     -1555470.16
CONST BETER-PF A      COBE5 BZ          31374374     -1555470.16
CONST BETER-PF B      COBE6 BZ          31374374     -1555470.16
CONST BETER SA        COBE3B BZ         31374374     -1555470.16
CONST BETER-PR B      1009Q BZ          31374374     -1555470.16
CONST BETER-PF A      1COBAN BZ         31374374     -1555470.16
CONST BETER-PR A      COBEAN BZ         31374374     -1555470.16
CONST BETER SA        COBE3 BZ          31374374     -1555470.16
CONST BETER SA        1COBON BZ         31374374     -1555470.16
CONST BETER-PR A      1008Q BZ          31374374     -1555470.16
CONST BETER-PF B      1COBBN BZ         31374374     -1555470.16
CONST BETER-PF B      COBE6B BZ         31374374     -1555470.16
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
FERRAGENS HAGA-P      HAGAPN BZ         21992326     -56631998.5
FER HAGA-PREF         HAGA4 BZ          21992326     -56631998.5
HAGA                  HAGA3 BZ          21992326     -56631998.5
FERRAGENS HAGA        HAGAON BZ         21992326     -56631998.5
NOVA AMERICA-PRF      NOVA4B BZ         21287489      -183535527
NOVA AMERICA-PRF      NOVA4 BZ          21287489      -183535527
NOVA AMERICA SA       NOVAON BZ         21287489      -183535527
NOVA AMERICA SA       NOVA3 BZ          21287489      -183535527
NOVA AMERICA-PRF      NOVAPN BZ         21287489      -183535527
NOVA AMERICA SA       1NOVON BZ         21287489      -183535527
NOVA AMERICA SA       NOVA3B BZ         21287489      -183535527
NOVA AMERICA-PRF      1NOVPN BZ         21287489      -183535527
TECEL S JOSE          SJOS3 BZ          18420379     -64108300.1
TECEL S JOSE-PRF      FTSJPN BZ         18420379     -64108300.1
TECEL S JOSE          FTSJON BZ         18420379     -64108300.1
TECEL S JOSE-PRF      SJOS4 BZ          18420379     -64108300.1
NORDON MET            NORD3 BZ          15971163     -28156360.8
NORDON MET-RTS        NORD1 BZ          15971163     -28156360.8
NORDON METAL          NORDON BZ         15971163     -28156360.8
LARK MAQS-PREF        LARK4 BZ          15298294     -2072193.19
LARK SA MAQU-RTS      LARK1 BZ          15298294     -2072193.19
LARK MAQUINAS-PR      LARPN BZ          15298294     -2072193.19
LARK MAQUINAS         LARON BZ          15298294     -2072193.19
LARK MAQS             LARK3 BZ          15298294     -2072193.19
LARK SA MAQU-RTS      LARK2 BZ          15298294     -2072193.19
CHIARELLI SA          CCHON BZ          14960467     -43105640.5
CHIARELLI SA-PRF      CCHPN BZ          14960467     -43105640.5
CHIARELLI SA          CCHI3 BZ          14960467     -43105640.5
CHIARELLI SA-PRF      CCHI4 BZ          14960467     -43105640.5
B&D FOOD CORP         BDFCE US          14423532        -3506007
B&D FOOD CORP         BDFC US           14423532        -3506007
LATTENO FOOD COR      LATF US           14423532        -3506007
REII INC              REIC US           14423532        -3506007
CONST A LINDEN        LINDON BZ         14398838     -3020065.57
CONST A LIND-PRF      CALI4 BZ          14398838     -3020065.57
CONST A LIND-PRF      LINDPN BZ         14398838     -3020065.57
CONST LINDEN RCT      CALI9 BZ          14398838     -3020065.57
CONST LINDEN RCT      CALI10 BZ         14398838     -3020065.57
CONST LINDEN RT       CALI2 BZ          14398838     -3020065.57
CONST A LINDEN        CALI3 BZ          14398838     -3020065.57
CONST LINDEN RT       CALI1 BZ          14398838     -3020065.57
ARTHUR LAN-DVD C      ARLA11 BZ         11642256     -17154461.9
ARTHUR LANG-RC C      ARLA9 BZ          11642256     -17154461.9
ARTHUR LANGE-PRF      ARLA4 BZ          11642256     -17154461.9
ARTHUR LANG-RT P      ARLA2 BZ          11642256     -17154461.9
ARTHUR LAN-DVD P      ARLA12 BZ         11642256     -17154461.9
ARTHUR LANGE-PRF      ALICPN BZ         11642256     -17154461.9
ARTHUR LANG-RT C      ARLA1 BZ          11642256     -17154461.9
ARTHUR LANG-RC P      ARLA10 BZ         11642256     -17154461.9
ARTHUR LANGE          ARLA3 BZ          11642256     -17154461.9
ARTHUR LANGE SA       ALICON BZ         11642256     -17154461.9
FERREIRA GUIM-PR      FGUIPN BZ         11016542      -151840377
F GUIMARAES-PREF      FGUI4 BZ          11016542      -151840377
FERREIRA GUIMARA      FGUION BZ         11016542      -151840377
F GUIMARAES           FGUI3 BZ          11016542      -151840377


CHILE
-----

EMPRESA DE LOS F      2940894Z CI      1.934E+09       -50416404
CHILESAT CORP SA      TELEX CI         1.157E+09      -122555290
TELEX-RTS             TELEXO CI        1.157E+09      -122555290
CHILESAT CO-ADR       TL US            1.157E+09      -122555290
CLARO COM SA          CHILESAT CI      1.157E+09      -122555290
CHILESAT CO-RTS       CHISATOS CI      1.157E+09      -122555290
TELMEX CORP-ADR       CSAOY US         1.157E+09      -122555290
TELEX-A               TELEXA CI        1.157E+09      -122555290
PUYEHUE RIGHT         PUYEHUOS CI       24447502     -1250905.47
PUYEHUE               PUYEH CI          24447502     -1250905.47



                            ***********


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, Ivy B. Magdadaro, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2012.  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 Peter Chapman at 240/629-3300.


                   * * * End of Transmission * * *