/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/120228.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 28, 2012, Vol. 13, No. 040 Headlines A N T I G U A & B A R B U D A STANFORD INT'L: Judge Denies Mistrial Request on Erased Drives A R G E N T I N A CATERPILLAR FINANCIAL: Moody's Gives 'Ba1' Debt Rating B E R M U D A SUN & STAR: Creditors' Proofs of Debt Due March 14 SUN & STAR: Sole Member to Receive Wind-Up Report on March 29 C A Y M A N I S L A N D S ARIA CDO I: Creditors' Proofs of Debt Due Feb. 29 BSCP CAYMAN: Sole Member to Hear Wind-Up Report on March 1 CHIRIN ASIA: Shareholders' Final Meeting Set for March 2 COCO LOCO: Shareholder to Hear Wind-Up Report on March 6 CT OPPORTUNITY: Placed Under Voluntary Wind-Up DMR TALF: Shareholders' Final Meeting Set for March 2 GATWICK (FREEHOLD): Creditors' Proofs of Debt Due Feb. 29 GLORY IAM: Shareholders' Final Meeting Set for March 13 GREENBAY EUROPEAN: Members' Final Meeting Set for March 1 HCP CHONGQING: Shareholders' Final Meeting Set for March 2 IMPACTOR CREDIT: Creditors' Proofs of Debt Due Feb. 29 IP ASIAN: Commences Liquidation Proceedings IVY GLOBAL: Creditors' Proofs of Debt Due Feb. 29 IVY GLOBAL: Shareholders' Final Meeting Set for March 2 LA ATORIAH: Creditors' Proofs of Debt Due Feb. 29 MIOKI FUND: Shareholders' Final Meeting Set for March 5 NORTH WIND: Members Receive Wind-Up Report ORSA VENTURES: Commences Liquidation Proceedings PLAYPOWER HOLDINGS: Shareholders' Final Meeting Set for March 28 RAY IAM: Shareholders' Final Meeting Set for March 13 M E X I C O BANCO NACIONAL: Moody's Affirms 'Baa1' Issuer and Debt Ratings VITRO SAB: Units Face US Bank US$311MM Breach of Contract Suit P U E R T O R I C O AUTOS VEGA: Euroclass Plan Disclosures Hearing Set for March 29 T R I N I D A D & T O B A G O TRINIDAD CEMENT: Union to Serve Strike Notice in Deal Breakdown WELTHECON INVESTMENT: T&T SEC Gets Nod to Appoint Receiver X X X X X X X X * Large Companies With Insolvent Balance Sheets - - - - - =============================== A N T I G U A & B A R B U D A =============================== STANFORD INT'L: Judge Denies Mistrial Request on Erased Drives -------------------------------------------------------------- Juan Lozano at The Associated Press reports that a prosecutor said computer hard drives belonging to the outside auditor of Stanford International Bank Limited apparently erased after the auditor's death. The information prompted a failed mistrial request by Robert Allen Stanford attorneys who said they couldn't verify the claim and that the implication of criminal activity could irreparably harm their case, according to Associated Press. The report notes that U.S. District Judge David Hittner denied the motion for a mistrial but instructed jurors that questions from attorneys are not evidence. Associated Press notes that Morris Hollander, a forensic accountant hired by Mr. Stanford's defense team, said he had not seen any of the bank's actual accounting books and records and his conclusions were based only on prepared annual reports and other documents authorities allege were fabricated by Mr. Stanford. As reported in the Troubled Company Reporter - Latin America on Feb. 27, 2012, Reuters said that Morris Hollander testified that that his review of financial statements and other documents seemed to show the bank was being properly audited by the businessman's outside auditor, CAS Hewlett, and the bank was adhering to international accounting rules. About Stanford International Bank Domiciled in Antigua, Stanford International Bank Limited -- http://www.stanfordinternationalbank.com/-- is a member of Stanford Private Wealth Management, a global financial services network with US$51 billion in deposits and assets under management or advisement. Stanford Private Wealth Management serves more than 70,000 clients in 140 countries. On Feb. 16, 2009, the United States District Court for the Northern District of Texas, Dallas Division, signed an order appointing Ralph Janvey as receiver for all the assets and records of Stanford International Bank, Ltd., Stanford Group Company, Stanford Capital Management, LLC, Robert Allen Stanford, James M. Davis and Laura Pendergest-Holt and of all entities they own or control. The February 16 order, as amended March 12, 2009, directs the Receiver to, among other things, take control and possession of and to operate the Receivership Estate, and to perform all acts necessary to conserve, hold, manage and preserve the value of the Receivership Estate. The U.S. Securities and Exchange Commission, on Feb. 17, charged before the U.S. District Court in Dallas, Texas, Mr. Stanford and three of his companies for orchestrating a fraudulent, multi- billion dollar investment scheme centering on an US$8 billion Certificate of Deposit program. A criminal case was pursued against him in June before the U.S. District Court in Houston, Texas. Mr. Stanford pleaded not guilty to 21 charges of multi-billion dollar fraud, money- laundering and obstruction of justice. Assistant Attorney General Lanny Breuer, as cited by Agence France-Presse News, said in a 57-page indictment that Mr. Stanford could face up to 250 years in prison if convicted on all charges. Mr. Stanford surrendered to U.S. authorities after a warrant was issued for his arrest on the criminal charges. The criminal case is U.S. v. Stanford, H-09-342, U.S. District Court, Southern District of Texas (Houston). The civil case is SEC v. Stanford International Bank, 3:09-cv-00298-N, U.S. District Court, Northern District of Texas (Dallas). ================= A R G E N T I N A ================= CATERPILLAR FINANCIAL: Moody's Gives 'Ba1' Debt Rating ------------------------------------------------------ Moody's Investors Service assigned a Ba1 global local-currency debt rating to the expected fifth issuance of Caterpillar Financial Services Argentina S.A (CFSA) up to the amount of ARS$100 million, which will be due in 24 months. At the same time, Moody's Latin America assigned Aaa.ar national scale local currency debt rating to CFSA's issuance. The ratings were based on the full, unconditional and irrevocable guarantee, given by its parent Caterpillar Financial Services Corporation rated A2 globally. The outlook for the ratings is stable. The following ratings were assigned to Caterpillar Financial Services Argentina S.A.: ARS$100 million senior unsecured debt issuance: Ba1 Global Local Currency Debt Rating, with stable outlook Aaa.ar Argentina National Scale Local Currency Debt Rating Caterpillar Financial Services Argentina S.A is headquartered in Buenos Aires, Argentina, and reported ARS$91.6 million of total assets and ARS$10.6 million of shareholders' equity as of Sept. 30, 2011. ============= B E R M U D A ============= SUN & STAR: Creditors' Proofs of Debt Due March 14 -------------------------------------------------- The creditors of Sun & Star Insurance Company, Limited are required to file their proofs of debt by March 14, 2012, to be included in the company's dividend distribution. The company commenced wind-up proceedings on Feb. 21, 2012. The company's liquidator is: Robin J. Mayor Clarendon House, 2 Church Street Hamilton HM 11 Bermuda SUN & STAR: Sole Member to Receive Wind-Up Report on March 29 ------------------------------------------------------------- The sole member of Sun & Star Insurance Company Limited will receive on March 29, 2012, at 9:30 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. 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 =========================== ARIA CDO I: Creditors' Proofs of Debt Due Feb. 29 ------------------------------------------------- The creditors of Aria CDO I (Cayman Islands) Ltd are required to file their proofs of debt by Feb. 29, 2012, to be included in the company's dividend distribution. The company commenced liquidation proceedings on Jan. 20, 2012. The company's liquidator is: David Dyer Deutsche Bank (Cayman) Limited PO Box 1984, Boundary Hall Cricket Square, 171 Elgin Avenue Grand Cayman KY1-1104 Cayman Islands BSCP CAYMAN: Sole Member to Hear Wind-Up Report on March 1 ---------------------------------------------------------- The sole member of BSCP Cayman, Inc. will receive on March 1, 2012, at 10:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Timothy J. Smith c/o JPMorgan Chase & Co. 270 Park Avenue New York, New York 10005 U.S.A. CHIRIN ASIA: Shareholders' Final Meeting Set for March 2 -------------------------------------------------------- The shareholders of Chirin Asia Pacific Fund Limited will hold their final meeting on March 2, 2012, at 8:30 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 COCO LOCO: Shareholder to Hear Wind-Up Report on March 6 -------------------------------------------------------- The shareholder of Coco Loco Charters, Inc. will receive on March 6, 2012, at 10:00 a.m., the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: David Ginsberg Telephone: +1 954 384 1219 Facsimile: + 1345 949 8613 2489 Poinciana Drive Weston, FL. 33327 USA CT OPPORTUNITY: Placed Under Voluntary Wind-Up ---------------------------------------------- On Jan. 9, 2012, the sole shareholder of CT Opportunity Investment Company passed a resolution that voluntarily winds up the company's operations. Only creditors who were able to file their proofs of debt by Feb. 27, 2012, will be included in the company's dividend distribution. The company's liquidator is: Cheng, Tai-Keh No. 3 Sung Shou Road, 8th Floor Taipei 110 Taiwan Telephone: +886227222002 Facsimile: +886287809960 DMR TALF: Shareholders' Final Meeting Set for March 2 ----------------------------------------------------- The shareholders of DMR TALF and ABS Fund Ltd. will hold their final meeting on March 2, 2012, at 4:00 p.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. 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 GATWICK (FREEHOLD): Creditors' Proofs of Debt Due Feb. 29 --------------------------------------------------------- The creditors of Gatwick (Freehold) Limited are required to file their proofs of debt by Feb. 29, 2012, to be included in the company's dividend distribution. The company's liquidator is: K.D. Blake P.O. Box 493 Grand Cayman KY1-1106 Cayman Islands Telephone: +1-345-949-4800 Facsimile: +1-345-949-7164 GLORY IAM: Shareholders' Final Meeting Set for March 13 ------------------------------------------------------- The shareholders of Glory Iam Limited will hold their final meeting on March 13, 2012, at 10:30 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Westport Services Ltd. c/o Bonnie Willkom Telephone: (345) 949 5122 Facsimile: (345) 949 7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands GREENBAY EUROPEAN: Members' Final Meeting Set for March 1 --------------------------------------------------------- The members of Greenbay European Long/Short Fund will hold their final meeting on March 1, 2012, at 4:00 p.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: DMS Corporate Services Ltd. c/o Bernadette Bailey-Lewis Telephone: (345) 946 7665 Facsimile: (345) 946 7666 dms Corporate Services Ltd. dms House, 2nd Floor P.O. Box 1344 Grand Cayman KY1-1108 Cayman Islands HCP CHONGQING: Shareholders' Final Meeting Set for March 2 ---------------------------------------------------------- The shareholders of HCP Chongqing Since Holding Co Ltd will hold their final meeting on March 2, 2012, at 8:45 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 IMPACTOR CREDIT: Creditors' Proofs of Debt Due Feb. 29 ------------------------------------------------------ The creditors of Impactor Credit Fund Limited are required to file their proofs of debt by Feb. 29, 2012, to be included in the company's dividend distribution. The company commenced liquidation proceedings on Jan. 20, 2012. The company's liquidator is: David Dyer Deutsche Bank (Cayman) Limited PO Box 1984, Boundary Hall Cricket Square, 171 Elgin Avenue Grand Cayman KY1-1104 Cayman Islands IP ASIAN: Commences Liquidation Proceedings ------------------------------------------- On Jan. 10, 2012, the members of IP Asian Equity Long-Short Fund passed a resolution that voluntarily liquidates the company's business. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Jiffriy Chandra 3311-3313 Two IFC, 8 Finance Street Central Hong Kong IVY GLOBAL: Creditors' Proofs of Debt Due Feb. 29 ------------------------------------------------- The creditors of Ivy Global Equity Opportunities SPV, Ltd. are required to file their proofs of debt by Feb. 29, 2012, to be included in the company's dividend distribution. The company commenced liquidation proceedings on Jan. 11, 2012. 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 IVY GLOBAL: Shareholders' Final Meeting Set for March 2 ------------------------------------------------------- The shareholders of Ivy Global Equity Opportunities SPV, Ltd. will hold their final meeting on March 2, 2012, at 9:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Walkers Corporate Services Limited Walker House, 87 Mary Street, George Town Grand Cayman KY1-9002 Cayman Islands c/o Jennifer Chailler Telephone: (345) 814 6847 LA ATORIAH: Creditors' Proofs of Debt Due Feb. 29 ------------------------------------------------- The creditors of La Atoriah Leasing Limited are required to file their proofs of debt by Feb. 29, 2012, to be included in the company's dividend distribution. The company commenced liquidation proceedings on Jan. 19, 2012. The company's liquidator is: Walkers SPV Limited Walker House 87 Mary Street George Town Grand Cayman, KY1-9005 Cayman Islands c/o Jennifer Chailler Telephone: (345) 814 6847 MIOKI FUND: Shareholders' Final Meeting Set for March 5 ------------------------------------------------------- The shareholders of Mioki Fund Limited will hold their final meeting on March 5, 2012, at 2:00 p.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidators are: Peadar De Barra Claire Cawley Fleming Court, Fleming's Place, Mespil Road Dublin 4, Ireland NORTH WIND: Members Receive Wind-Up Report ------------------------------------------ The members of North Wind GF Fund received on Feb. 23, 2012, the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Michael Pearson c/o Russell Gleisner Deloitte & Touche Citrus Grove Building, 4th Floor Goring Avenue, George Town KY1-1109 Telephone: +1(345) 814 2330 ORSA VENTURES: Commences Liquidation Proceedings ------------------------------------------------ At an extraordinary meeting held on Jan. 3, 2012, the members of Orsa Ventures (Cayman) Corporation passed a resolution that voluntarily liquidates the company's business. The company's liquidator is: Brian Flower 2620 Chesterfield Avenue North Vancouver, British Columbia V7N 3M2, Canada Telephone: (604) 408-2333 e-mail: bflower@triointl.com PLAYPOWER HOLDINGS: Shareholders' Final Meeting Set for March 28 ---------------------------------------------------------------- The shareholders of Playpower Holdings Limited will hold their final meeting on March 28, 2012, at 10:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Paget-Brown Trust Company Ltd. c/o Bonnie Willkom Telephone: (345)-949-5122 Facsimile: (345)-949-7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands RAY IAM: Shareholders' Final Meeting Set for March 13 ----------------------------------------------------- The shareholders of Ray IAM Limited will hold their final meeting on March 13, 2012, at 10:00 a.m., to receive the liquidator's report on the company's wind-up proceedings and property disposal. The company's liquidator is: Westport Services Ltd. c/o Bonnie Willkom Telephone: (345) 949 5122 Facsimile: (345) 949 7920 P.O. Box 1111 Grand Cayman KY1-1102 Cayman Islands =========== M E X I C O =========== BANCO NACIONAL: Moody's Affirms 'Baa1' Issuer and Debt Ratings -------------------------------------------------------------- Moody's Investors Service affirmed Banco Nacional de Comercio Exterior, Sociedad Nacional de Credito, Institucion de Banca de Desarrollo's (Bancomext) long and short term local and foreign currency issuer ratings of Baa1 and Prime-2, its local currency long term debt rating of Baa1, and its foreign currency short term debt rating of Prime-2. At the same time, Moody's raised Bancomext's stand-alone baseline credit assessment (BCA) to Ba3, from B1. Moody's de Mexico affirmed Bancomext's National Scale long and short term issuer ratings of Aaa.mx and MX-1, and its National Scale long term debt rating of Aaa.mx. Ratings Rationale Moody's noted that Bancomext's Baa1 issuer and debt ratings reflect the Mexican government's irrevocable and enforceable guarantee of all the development bank's obligations with third parties as established under its Organic Law. This guarantee is indicative of Bancomext's role as an instrument of government- directed policy, and its debt obligations are included in the calculation of Mexico's public debt. The issuer and debt ratings incorporate five notches of uplift from the bank's Ba3 BCA based on the government's full guarantee. Bancomext's BCA was raised to Ba3 reflecting the bank's much improved profitability as demonstrated by three years of consistently positive returns aided by much lower operating costs. As Bancomext is no longer mandated to promote Mexican exports through training, advisory services, and trade-show hosting, those operating costs are now absorbed by a trust called ProMexico with no relation to Bancomext. The higher BCA also incorporates reductions in the bank's non- performing loan levels as a result of loan restructurings and successful adjudication of problem loans, as well as the transfer of problem loans off-balance sheet. Bancomext's BCA is also supported by strong loss reserve coverage and an adequate Basle capital ratio of 13.8% as of September 2011 which is mainly composed of Tier 1 capital. Moody's also said it expects the bank's expanded focus towards medium sized companies to help lower Bancomext's large single borrower concentrations going forward. Moody's nevertheless acknowledged that asset quality and profitability may continue to be at risk given the bank's still high single borrower concentrations with large Mexican corporations and the bank's mandate to exporters and industries that generate foreign currency. A newly formed workout area and early warning studies of the industries the bank is mandated to support should help to mitigate the bank's relatively high risk portfolio. The last rating action on Bancomext occurred on 7 March 2011, when Moody's assigned a long term local currency debt rating of Baa1 and a long term National Scale debt rating of Aaa.mx to the bank's MXN5 billion five year issuance of certificados bursatiles bancarios. Bancomext is headquartered in Mexico City, Mexico and is 100% owned by the Mexican government. As of 30 September 2011, Bancomext reported MXN182,911 million in assets and MXN90,071 million in tangible common equity. VITRO SAB: Units Face US Bank US$311MM Breach of Contract Suit -------------------------------------------------------------- Martin Bricketto at Bankruptcy Law360 reports that U.S. Bank NA on Wednesday hit subsidiaries of Vitro SAB de CV with a breach of contract suit in New York, seeking to recover more than US$311 million in unpaid principal and interest on notes the company issued. U.S. Bank, the indenture trustee for the notes, also wants the court to block the defendants from shirking their alleged obligations over the debt through Vitro's insolvency proceedings in Mexico, Law360 relates. About Vitro SAB Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV: VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global glass producer, serving the construction and automotive glass markets and glass containers needs of the food, beverage, wine, liquor, cosmetics and pharmaceutical industries. Vitro is the largest manufacturer of glass containers and flat glass in Mexico, with consolidated net sales in 2009 of MXN23,991 million (US$1.837 billion). Vitro defaulted on its debt in 2009, and sought to restructure around US$1.5 billion in debt, including US$1.2 billion in notes. Vitro launched an offer to buy back or swap US$1.2 billion in debt from bondholders. The tender offer would be consummated with a bankruptcy filing in Mexico and Chapter 15 filing in the United States. Vitro said noteholders would recover as much as 73% by exchanging existing debt for cash, new debt or convertible bonds. Concurso Mercantil & Chapter 15 Proceedings Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a pre-packaged Concurso Plan in the Federal District Court for Civil and Labor Matters for the State of Nuevo Leon, commencing its voluntary concurso mercantil proceedings -- the Mexican equivalent of a prepackaged Chapter 11 reorganization. Vitro SAB also commenced parallel proceedings under Chapter 15 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan on Dec. 13, 2010, to seek U.S. recognition and deference to its bankruptcy proceedings in Mexico. Early in January 2011, the Mexican Court dismissed the Concurso Mercantil proceedings. The judge said Vitro couldn't push through a plan to buy back or swap US$1.2 billion in debt from bondholders based on the vote of US$1.9 billion of intercompany debt when third-party creditors were opposed. Vitro as a result dismissed the first Chapter 15 petition following the ruling by the Mexican court. On April 12, 2011, an appellate court in Mexico reinstated the reorganization. Accordingly, Vitro SAB on April 14 re-filed a petition for recognition of its Mexican reorganization in U.S. Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11- 11754). The Vitro parent told the Mexico stock exchange that it received sufficient acceptances of its reorganization pending in a court in Monterrey. The approval vote was evidently obtained using claims of affiliates. The bondholders are opposing the Mexican reorganization plan because shareholders could retain ownership while bondholders aren't being paid in full. Bondholders previously cited an "independent analyst" who estimated the Mexican plan was worth 49% to 54% of creditors' claims. In the present Chapter 15 case, the Debtor seeks to block any creditor suits in the U.S. pending the reorganization in Mexico. Chapter 11 Proceedings A group of noteholders opposed the exchange -- namely Knighthead Master Fund, L.P., Lord Abbett Bond-Debenture Fund, Inc., Davidson Kempner Distressed Opportunities Fund LP, and Brookville Horizons Fund, L.P. Together, they held US$75 million, or approximately 6% of the outstanding bond debt. The Noteholder group commenced involuntary bankruptcy cases under Chapter 11 of the U.S. Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D. Tex. Case No. 10-47470) and 15 other affiliates on Nov. 17, 2010. Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation counsel to analyze the potential rights that Vitro may exercise in the United States against the ad hoc group of dissident bondholders and its advisors. A larger group of noteholders, known as the Ad Hoc Group of Vitro Noteholders -- comprised of holders, or investment advisors to holders, which represent approximately US$650 million of the Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not among the Chapter 11 petitioners, although the group has expressed concerns over the exchange offer. The group says the exchange offer exposes Noteholders who consent to potential adverse consequences that have not been disclosed by Vitro. The group is represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at White & Case LLP. The U.S. affiliates subject to the involuntary petitions are Vitro Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No.10-47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10- 47473); Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10- 47474); Super Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10- 47475); Super Sky International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP Holdings, LLC (Bankr. N.D. Tex. Case No. 0-47477); Amsilco Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O. Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass, Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC (Bankr. N.D. Tex. Case No. 10-47485). A bankruptcy judge in Fort Worth, Texas, denied involuntary Chapter 11 petitions filed against four U.S. subsidiaries. On April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro America LLC and three other U.S. subsidiaries -- that were subject to the involuntary petitions into voluntary Chapter 11. The Texas Court on April 21 denied involuntary petitions against the eight U.S. subsidiaries that didn't consent to being in Chapter 11. Kurtzman Carson Consultants is the claims and notice agent to Vitro America, et al. Alvarez & Marsal North America LLC, is the Debtors' operations and financial advisor. The official committee of unsecured creditors appointed in the Chapter 11 cases of Vitro America, et al., has selected Sarah Link Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in Dallas, Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq., and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP, in New York, as counsel. Blackstone Advisory Partners L.P. serves as financial advisor to the Committee. The U.S. Vitro companies sold their assets to American Glass Enterprises LLC, an affiliate of Sun Capital Partners Inc., for US$55 million. U.S. subsidiaries of Vitro SAB are having their cases converted to liquidations in Chapter 7, court records in January 2012 show. In December, the U.S. Trustee in Dallas filed a motion to convert the subsidiaries' cases to liquidations in Chapter 7. The Justice Department's bankruptcy watchdog said $5.1 million in bills were run up in bankruptcy and hadn't been paid. Mexico Court Approves Plan Mexican glassmaker Vitro SAB de CV won approval of its reorganization plan by a judge in Monterrey, Mexico, the company said in a statement Feb. 7, 2012. The reorganization was being fought by holders of some of the $1.2 billion in defaulted bonds. Bondholders were in opposition based on an argument that the company created $1.9 billion in debt owing by the parent to subsidiaries and used the affiliates' debt to vote down opposition from bondholders. Bondholders also opposed the plan would retain ownership. Vitro characterized the ad hoc bondholder group as "vulture investors" who have "an established pattern of highly litigious behavior." ===================== P U E R T O R I C O ===================== AUTOS VEGA: Euroclass Plan Disclosures Hearing Set for March 29 --------------------------------------------------------------- The U.S. Bankruptcy Court for the District of Puerto Rico has set a hearing on March 29, 2012, at 9:00 a.m., to consider approval of the disclosure statement for the Chapter 11 plan of Euroclass Motors, Inc., a debtor-affiliate of Autos Vega, Inc. Objections to the adequacy of the information in the Disclosure Statement should be filed no later that March 15, 2012. The proposed Chapter 11 Plan dated Jan. 30, 2012, provides for the full payment of the secured claim of the Debtor's lender, Reliable Finance Holding Company, estimated at $1.67 million. Holders of general unsecured claims, estimated at $1.49 million, are expected to have a 13% recovery. Equity interests in the Debtor will be retained. Holders of administrative expense claims, estimated at $114,500, and allowed priority tax claims, estimated at $16,000, are unimpaired under the Plan. A full-text copy of the Disclosure Statement is available for free at http://bankrupt.com/misc/EUROCLASS_DSJan30.PDF About Autos Vega Autos Vega, Inc., is a car dealership engaged in the sales of new and used cars and trucks car parts, accessories and providing vehicle repair and maintenance, based in San Juan, Puerto Rico. The Company filed for Chapter 11 bankruptcy protection (Bankr. D. P.R. Case No. 11-05773) on July 6, 2011. The Debtor disclosed US$22,959,296 in assets and US$34,224,323 in liabilities. Charles Alfred Cuprill, Esq., at Charles A Curpill, PSC Law Office, in San Juan, Puerto Rico, serves as counsel to the Debtor. Luis R. Carrasquillo Ruiz, CPA, is the Debtor's accountant. Affiliate Euroclass Motors, Inc. filed for Chapter 11 protection (Bankr. D. P.R. Case No. 11-05772) on July 6, 2011. Autos Vega disclosed US$22,959,296 in assets and US$34,224,323 in liabilities as of the Chapter 11 filing. =============================== T R I N I D A D & T O B A G O =============================== TRINIDAD CEMENT: Union to Serve Strike Notice in Deal Breakdown --------------------------------------------------------------- Laurel Williams at Trinidad and Tobago Newsday reports that the Oilfields Workers' Trade Union is expected to serve strike notice on Trinidad Cement Limited in light of a breakdown in wage negotiations. Feb. 23 marked the end of the conciliatory period and according to President General of the union, Ancel Roget, they did not want any more extensions for conciliation talks, according to T&T Newsday. The report discloses that the company said it had made a request for an extension of time to bring amicable resolution to the negotiations. However, T&T Newsday notes that this request was denied by the union, which has since signaled its intention to serve strike notice. T&T Newsday says that the union is demanding wages be increased by 16%, a figure which TCL has publicly rejected, proposing instead 6.5%. Trinidad Cement Limited is a cement company and is the parent company of Caribbean Cement Company Limited. * * * As reported in the Troubled Company Reporter-Latin America on Oct. 5, 2011, RJR News reports that Trinidad Cement Limited has now reached an agreement with its debtors on the terms and conditions attached to the repayment of its debt. The agreement will convert most of the company's debt into an 8-year facility, to be paid, quarterly, from March 2013, according to RJR News. The report related that deal also includes certain performance criteria for repaying the debt and if those are not met, the company will be penalized. WELTHECON INVESTMENT: T&T SEC Gets Nod to Appoint Receiver ---------------------------------------------------------- Trinidad Express reports that the Trinidad and Tobago Securities and Exchange Commission has obtained an order from High Court Justice Peter Rajkumar appointing a receiver-manager over the affairs of Port of Spain-based Welthecon Investment Managers Ltd and Pierre Finance Investments Ltd. On July 28 2011, the T&T SEC initiated an action in the High Court against Welthecon, Pierre Finance Investments and Peter De Gannes pursuant to its powers under the Securities Industry Act, according to Trinidad Express. The report relates that the next day, the Commission obtained an Order of the High Court directing that the defendants had been restrained from disposing of, transferring or diminishing the value of their assets pending the hearing and determination of the Commission's claim against them. The defendants and their servants and/or agents were also restrained from conducting any business with respect to any investment in any securities or the purchase or sale of any securities, the SEC said in a statement obtained by the news agency on Feb. 23, 2012. Trinidad Express discloses that the SEC said that on February 10 the court ordered the first and second defendants to make restitution; the disgorgement of profits obtained by reason of their non-compliance with the Securities Industry Act; the appointment of Brian Hackett of PricewaterhouseCoopers Advisory Services Ltd as receiver-manager over the assets of the defendants. The matter has been adjourned to July 5 for a report, the report adds. =============== 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 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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 * * *