/raid1/www/Hosts/bankrupt/TCRLA_Public/130115.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, January 15, 2013, Vol. 14, No. 10


                            Headlines



B E R M U D A

ELDORADO RESOURCES: Commences Liquidation Proceedings
GOLD CUBE: Members Receive Wind-Up Report
GOLDEN CHINA: Commences Liquidation Proceedings
IDDF ADVISORS: Members Receive Wind-Up Report
PANORAMIX LEASING: Member Receives Wind-Up Report


C A Y M A N  I S L A N D S

BAREN LIMITED: Placed Under Voluntary Wind-Up
CAPULA SPECIAL: Commences Liquidation Proceedings
CAPULA SPECIAL MASTER: Commences Liquidation Proceedings
CHATHAM ASSET: Placed Under Voluntary Wind-Up
DORICO FUND: Commences Liquidation Proceedings

F.L.A.C.E.S. MANAGEMENT: Commences Liquidation Proceedings
FEM HOLDINGS: Commences Liquidation Proceedings
FONDELEC C.E.E.: Commences Liquidation Proceedings
GCC/HOYTS BRAZIL: Commences Liquidation Proceedings
HUME ASIA: Placed Under Voluntary Wind-Up

HUME ASIA MASTER: Placed Under Voluntary Wind-Up
MARATHON SPECIAL: Placed Under Voluntary Wind-Up
MARATHON SPECIAL (OFFSHORE): Placed Under Voluntary Wind-Up
MERIT POINT: Commences Liquidation Proceedings
NF AURORA INVESTORS: Commences Liquidation Proceedings

OCTAVIA HOLDING: Commences Liquidation Proceedings
RAMESSES OFFSHORE: Commences Liquidation Proceedings
SPANISH PHARMA: Commences Liquidation Proceedings
THEME IAM: Commences Liquidation Proceedings
TMS HOLDINGS: Commences Liquidation Proceedings


J A M A I C A

JAMALCO: Alcoa Posts US$242 Million Profit for 4th Quarter


T R I N I D A D  &  T O B A G O

WATER TAXI: Big Losses Spark Fear of Closure


X X X X X X X X

* Large Companies With Insolvent Balance Sheets


                            - - - - -


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


ELDORADO RESOURCES: Commences Liquidation Proceedings
-----------------------------------------------------
Eldorado Resources (B.V.I.) Ltd. commenced liquidation proceedings
on Nov. 29, 2012.

Jennifer M. Kelly of 14 Par la Ville Road, Hamilton HM08, Bermuda
is the company's liquidator.


GOLD CUBE: Members Receive Wind-Up Report
-----------------------------------------
The members of Gold Cube Insurance Limited received on Jan. 9,
2013, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company commenced wind-up proceedings on Dec. 6, 2012.

The company's liquidator is:

         Ian Stone
         Victoria Place, 31 Victoria Street
         Hamilton
         Bermuda


GOLDEN CHINA: Commences Liquidation Proceedings
-----------------------------------------------
Golden China Nibao Gold Corporation commenced liquidation
proceedings on Nov. 29, 2012.

Jennifer M. Kelly of 14 Par la Ville Road, Hamilton HM08, Bermuda
is the company's liquidator.


IDDF ADVISORS: Members Receive Wind-Up Report
---------------------------------------------
The members of IDDF Advisors Limited received on Jan. 9, 2013, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on Dec. 5, 2012.

The company's liquidator is:

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


PANORAMIX LEASING: Member Receives Wind-Up Report
-------------------------------------------------
The member of Panoramix Leasing Limited received on Jan. 11, 2013,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on Dec. 5, 2012.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House, Church Street
         Hamilton
         Bermuda



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


BAREN LIMITED: Placed Under Voluntary Wind-Up
---------------------------------------------
On Oct. 25, 2012, the sole shareholder of Baren Limited resolved
to voluntarily wind up the company's operations.

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

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487 Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-7128


CAPULA SPECIAL: Commences Liquidation Proceedings
-------------------------------------------------
On Oct. 31, 2012, the sole shareholder of Capula Special
Opportunities Fund resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Keiran Hutchison
         Robin Lee McMahon
         c/o Barry MacManus
         Telephone: (345) 814 8997
         Facsimile: (345) 814 8529
         Ernst & Young Ltd, 62 Forum Lane
         Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


CAPULA SPECIAL MASTER: Commences Liquidation Proceedings
--------------------------------------------------------
On Oct. 31, 2012, the sole shareholder of Capula Special
Opportunities Master Fund resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Keiran Hutchison
         Robin Lee McMahon
         c/o Barry MacManus
         Telephone: (345) 814 8997
         Facsimile: (345) 814 8529
         Ernst & Young Ltd, 62 Forum Lane
         Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


CHATHAM ASSET: Placed Under Voluntary Wind-Up
---------------------------------------------
On Oct. 23, 2012, the sole shareholder of Chatham Asset Partners
Special Situations Offshore Fund, Ltd. resolved to voluntarily
wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 10, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jennifer Parsons
         Telephone: (345) 815-1820
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


DORICO FUND: Commences Liquidation Proceedings
----------------------------------------------
On Nov. 1, 2012, the sole shareholder of Dorico Fund resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 31, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Edel Andersen
         Roger Priaulx
         Telephone: (345) 945 3466
         Facsimile: (345) 945 3470
         c/o Genesis Trust & Corporate Services Ltd.
         P.O. Box 448 Midtown Plaza, Elgin Avenue, George Town
         Grand Cayman KY1-1106
         Cayman Islands


F.L.A.C.E.S. MANAGEMENT: Commences Liquidation Proceedings
----------------------------------------------------------
On Oct. 26, 2012, the sole shareholder of F.L.A.C.E.S. Management
Corp. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


FEM HOLDINGS: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 1, 2012, the sole shareholder of FEM Holdings Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


FONDELEC C.E.E.: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 26, 2012, the sole shareholder of Fondelec C.E.E.
Management Corp. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


GCC/HOYTS BRAZIL: Commences Liquidation Proceedings
---------------------------------------------------
On Nov. 6, 2012, the sole shareholder of GCC/Hoyts Brazil
Holdings, Inc. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 18, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Valmir Fernandes
         3900 Dallas Parkway,
         Suite 500, Plano, TX 75093
         USA
         Telephone: +1 972.665.1024
         Facsimile: +1 972.665.1003


HUME ASIA: Placed Under Voluntary Wind-Up
-----------------------------------------
On Oct. 30, 2012, the sole shareholder of Hume Asia Fund resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 10, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


HUME ASIA MASTER: Placed Under Voluntary Wind-Up
------------------------------------------------
On Oct. 30, 2012, the sole shareholder of Hume Asia Master Fund
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 10, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


MARATHON SPECIAL: Placed Under Voluntary Wind-Up
------------------------------------------------
On Oct. 30, 2012, the sole shareholder of Marathon Special
Opportunity Liquidating Fund, Ltd. resolved to voluntarily wind up
the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 12, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Michael Lubin
         Telephone: (345) 815 1793
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


MARATHON SPECIAL (OFFSHORE): Placed Under Voluntary Wind-Up
-----------------------------------------------------------
On Oct. 30, 2012, the sole shareholder of Marathon Special
Opportunity Liquidating (Offshore) Fund, Ltd. resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 12, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Michael Lubin
         Telephone: (345) 815 1793
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


MERIT POINT: Commences Liquidation Proceedings
----------------------------------------------
On Nov. 6, 2012, the shareholders of Merit Point Limited resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

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


NF AURORA INVESTORS: Commences Liquidation Proceedings
------------------------------------------------------
On Nov. 1, 2012, the sole shareholder of NF Aurora Investors
Limited resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


OCTAVIA HOLDING: Commences Liquidation Proceedings
--------------------------------------------------
On Nov. 5, 2012, the sole shareholder of Octavia Holding Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 18, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Rebecca Hume
         Telephone: (345) 949.4544
         Facsimile: (345) 949.8460
         Charles Adams Ritchie & Duckworth
         PO Box 709 122 Mary Street
         Grand Cayman KY1-1107
         Cayman Islands


RAMESSES OFFSHORE: Commences Liquidation Proceedings
----------------------------------------------------
On Nov. 1, 2012, the sole shareholder of Ramesses Offshore
Investments Limited resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


SPANISH PHARMA: Commences Liquidation Proceedings
-------------------------------------------------
On Nov. 1, 2012, the sole shareholder of Spanish Pharma Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


THEME IAM: Commences Liquidation Proceedings
--------------------------------------------
On Nov. 5, 2012, the members of Theme IAM Limited resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 10, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Westport Services Ltd.
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


TMS HOLDINGS: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 2, 2012, the sole shareholder of TMS Holdings, Inc.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 19, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler



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


JAMALCO: Alcoa Posts US$242 Million Profit for 4th Quarter
----------------------------------------------------------
RJR News reports that the majority owner of the Jamalco plant in
Clarendon has posted fourth quarter profit in line with estimates
and expressed cautious optimism that demand will continue to grow
this year.

US aluminum giant Alcoa earned net profit of US$242 million for
the last three months of 2012, compared with a US$191 million
dollar loss during the corresponding period in 2011, according to
RJR News.

The report relates that sales fell 1.5% to US$5.9 billion, but
still beat analysts' expectations.  The report notes that Alcoa
expects global aluminum demand to grow 7% in 2013.

This would be a slight rise on the 6% growth seen in 2012, the
report relays.

The report notes that the company believes demand for aluminum
this year will be driven by the aviation and construction industry
and it continues to forecast a doubling in global aluminum demand
between 2010 and 2020.

Alcoa owns 55% of Jamalco while the Government holds the remaining
45%, the report adds.

                          About JAMALCO

JAMALCO (Alcoa Minerals of Jamaica) is a wholly owned subsidiary
of Alcoa.  JAMALCO mines bauxite and refines it into alumina
before exporting the alumina from its port at Rocky Point,
Clarendon.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 19, 2012, RJR News said that U.S. aluminum giant Alcoa, which
is part owner of the Alcoa Minerals of Jamaica (Jamalco) plant in
Jamaica, has posted a US$2 million second quarter loss after
aluminum prices slumped to near two-year lows.  Alcoa said revenue
declined 9% to US$6 billion as aluminum prices fell 18% from last
year, according to RJR News.

A TCRLA report on April 13, 2009, Radio Jamaica News said Alcoa
plans to cut 13,500 jobs or 13% of the work force in Jamaica,
because of the global slowdown.  Alcoa is also selling four
business units and reducing output to save money, the report
noted.  Caribbean Net News said the government is holding talks
with potential purchasers for its 45% stake in the Jamalco
refinery in south-central parish of Clarendon.  Aluminum giant
Alcoa holds 55% of the company, which has a production capacity of
1.4 million tons of alumina.



===============================
T R I N I D A D  &  T O B A G O
===============================


WATER TAXI: Big Losses Spark Fear of Closure
--------------------------------------------
Julien Neaves at Trinidad Express reports that Joint Committee
(JSC) member Senator Lyndira Oudit has expressed concern that a
report on the financial losses of the water taxi service sounded
like a "pre-exit strategy".

"I am really fearful that was to happen. And I speak on behalf
again of the southern people who use (it), many of them who
commute and work in Port of Spain," the report quoted Ms. Oudit as
saying.

Earlier in the meeting, JSC member Fitzgerald Jeffrey noted in the
report that annual expenditure on the water taxi service was $47
million but the revenue was only $7 million, according to the
report.

Mr. Jeffrey, Trinidad Express notes, said that the report
"frightens" him because it gave the indication that the service
may be discontinued.

Trinidad Express relays that Mr. Jeffrey said cost and revenue
were not the only factors to take into consideration but also the
cost to the Treasury for all the man hours and productivity lost
by commuters on the roads.

Trinidad Express discloses that Mr. Jeffrey also suggested that
the service be linked with his constituency of La Brea.

Ms. Oudit said the ministry has hired a consultant to work with it
to see if it should be continued or expanded, the report notes.

Ms. Oudit said the service was losing money because it was not
utilized enough but there were people willing to use the service
if parking is addressed, 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
-----------

SNIAFA SA-B          SDAGF US          11229696.22   -2670544.88
CENTRAL COSTAN-B     CRCBF US            410955501     -20459083
ENDESA COSTAN-A      CECO1 AR            410955501     -20459083
ENDESA COSTAN-       CECO2 AR            410955501     -20459083
CENTRAL COST-BLK     CECOB AR            410955501     -20459083
ENDESA COSTAN-       CECOD AR            410955501     -20459083
ENDESA COSTAN-       CECOC AR            410955501     -20459083
ENDESA COSTAN-       EDCFF US            410955501     -20459083
CENTRAL COSTAN-C     CECO3 AR            410955501     -20459083
CENTRAL COST-ADR     CCSA LI             410955501     -20459083
ENDESA COST-ADR      CRCNY US            410955501     -20459083
CENTRAL COSTAN-B     CNRBF US            410955501     -20459083
SNIAFA SA            SNIA AR           11229696.22   -2670544.88
SNIAFA SA-B          SNIA5 AR          11229696.22   -2670544.88
IMPSAT FIBER NET     IMPTQ US            535007008     -17164978
IMPSAT FIBER NET     330902Q GR          535007008     -17164978
IMPSAT FIBER NET     XIMPT SM            535007008     -17164978
IMPSAT FIBER-CED     IMPT AR             535007008     -17164978
IMPSAT FIBER-C/E     IMPTC AR            535007008     -17164978
IMPSAT FIBER-$US     IMPTD AR            535007008     -17164978
IMPSAT FIBER-BLK     IMPTB AR            535007008     -17164978

BRAZIL
------

FABRICA TECID-RT     FTRX1 BZ          71426302.46   -70883547.3
TEKA-ADR             TEKAY US          341291511.1    -388484677
BOMBRIL              BMBBF US          344846084.5   -16082109.1
TEKA                 TKTQF US          341291511.1    -388484677
TEKA-PREF            TKTPF US          341291511.1    -388484677
BATTISTELLA-RIGH     BTTL1 BZ          246036232.2   -51251360.7
BATTISTELLA-RI P     BTTL2 BZ          246036232.2   -51251360.7
BATTISTELLA-RECE     BTTL9 BZ          246036232.2   -51251360.7
BATTISTELLA-RECP     BTTL10 BZ         246036232.2   -51251360.7
AGRENCO LTD-BDR      AGEN11 BZ         640440282.3    -323456366
REII INC             REIC US              14423532      -3506007
PET MANG-RIGHTS      3678565Q BZ       246810936.7    -224879124
PET MANG-RIGHTS      3678569Q BZ       246810936.7    -224879124
PET MANG-RECEIPT     0229292Q BZ       246810936.7    -224879124
PET MANG-RECEIPT     0229296Q BZ       246810936.7    -224879124
BOMBRIL HOLDING      FPXE3 BZ          19416015.78    -489914902
BOMBRIL              FPXE4 BZ          19416015.78    -489914902
SANESALTO            SNST3 BZ           31802628.1   -2924062.87
B&D FOOD CORP        BDFCE US             14423532      -3506007
BOMBRIL-RGTS PRE     BOBR2 BZ          344846084.5   -16082109.1
BOMBRIL-RIGHTS       BOBR1 BZ          344846084.5   -16082109.1
AGRENCO LTD          AGRE LX           640440282.3    -323456366
CELGPAR              GPAR3 BZ           2657428496    -817505840
RECRUSUL - RT        4529781Q BZ       41094940.32   -21379158.8
RECRUSUL - RT        4529785Q BZ       41094940.32   -21379158.8
RECRUSUL - RCT       4529789Q BZ       41094940.32   -21379158.8
RECRUSUL - RCT       4529793Q BZ       41094940.32   -21379158.8
RECRUSUL-BON RT      RCSL11 BZ         41094940.32   -21379158.8
RECRUSUL-BON RT      RCSL12 BZ         41094940.32   -21379158.8
BALADARE             BLDR3 BZ          159454015.9   -52992212.8
TEXTEIS RENAU-RT     TXRX1 BZ          118475706.5   -73851057.6
TEXTEIS RENAU-RT     TXRX2 BZ          118475706.5   -73851057.6
TEXTEIS RENA-RCT     TXRX9 BZ          118475706.5   -73851057.6
TEXTEIS RENA-RCT     TXRX10 BZ         118475706.5   -73851057.6
CIA PETROLIF-PRF     MRLM4 BZ          377602195.2   -3014291.72
CIA PETROLIFERA      MRLM3 BZ          377602195.2   -3014291.72
CONST BETER SA       COBE3 BZ          31374373.74   -1555470.16
NOVA AMERICA SA      NOVA3 BZ             21287489    -183535527
NOVA AMERICA-PRF     NOVA4 BZ             21287489    -183535527
ALL ORE MINERACA     AORE3 BZ          21657457.41   -7184940.82
B&D FOOD CORP        BDFC US              14423532      -3506007
PET MANG-RT          4115360Q BZ       246810936.7    -224879124
PET MANG-RT          4115364Q BZ       246810936.7    -224879124
BI CIA SECURITIZ     BICS BZ           99573939.68   -140405.614
STEEL - RT           STLB1 BZ          21657457.41   -7184940.82
STEEL - RCT ORD      STLB9 BZ          21657457.41   -7184940.82
MINUPAR-RT           9314542Q BZ       153054387.9   -2037402.69
MINUPAR-RCT          9314634Q BZ       153054387.9   -2037402.69
CONST LINDEN RT      CALI1 BZ          12894010.61   -2805191.16
CONST LINDEN RT      CALI2 BZ          12894010.61   -2805191.16
PET MANG-RT          0229249Q BZ       246810936.7    -224879124
PET MANG-RT          0229268Q BZ       246810936.7    -224879124
RECRUSUL - RT        0163579D BZ       41094940.32   -21379158.8
RECRUSUL - RT        0163580D BZ       41094940.32   -21379158.8
RECRUSUL - RCT       0163582D BZ       41094940.32   -21379158.8
RECRUSUL - RCT       0163583D BZ       41094940.32   -21379158.8
PORTX OPERA-GDR      PXTPY US          976769402.8   -9407990.35
PORTX OPERACOES      PRTX3 BZ          976769402.8   -9407990.35
ALL ORE MINERACA     STLB3 BZ          21657457.41   -7184940.82
MINUPAR-RT           0599562D BZ       153054387.9   -2037402.69
MINUPAR-RCT          0599564D BZ       153054387.9   -2037402.69
CONST LINDEN RCT     CALI9 BZ          12894010.61   -2805191.16
CONST LINDEN RCT     CALI10 BZ         12894010.61   -2805191.16
CONST BETER-PFA      COBE5B BZ         31374373.74   -1555470.16
CONST BETER-PF B     COBE6B BZ         31374373.74   -1555470.16
PET MANG-RT          RPMG2 BZ          246810936.7    -224879124
PET MANG-RT          RPMG1 BZ          246810936.7    -224879124
PET MANG-RECEIPT     RPMG9 BZ          246810936.7    -224879124
PET MANG-RECEIPT     RPMG10 BZ         246810936.7    -224879124
RECRUSUL - RT        0614673D BZ       41094940.32   -21379158.8
RECRUSUL - RT        0614674D BZ       41094940.32   -21379158.8
RECRUSUL - RCT       0614675D BZ       41094940.32   -21379158.8
RECRUSUL - RCT       0614676D BZ       41094940.32   -21379158.8
TEKA-RTS             TEKA1 BZ          341291511.1    -388484677
TEKA-RTS             TEKA2 BZ          341291511.1    -388484677
TEKA-RCT             TEKA9 BZ          341291511.1    -388484677
TEKA-RCT             TEKA10 BZ         341291511.1    -388484677
MINUPAR-RTS          MNPR1 BZ          153054387.9   -2037402.69
MINUPAR-RCT          MNPR9 BZ          153054387.9   -2037402.69
RECRUSUL SA-RTS      RCSL1 BZ          41094940.32   -21379158.8
RECRUSUL SA-RTS      RCSL2 BZ          41094940.32   -21379158.8
RECRUSUL SA-RCT      RCSL9 BZ          41094940.32   -21379158.8
RECRUSUL - RCT       RCSL10 BZ         41094940.32   -21379158.8
ARTHUR LANGE         ARLA3 BZ          11642255.92   -17154461.9
ARTHUR LANGE SA      ALICON BZ         11642255.92   -17154461.9
ARTHUR LANGE-PRF     ARLA4 BZ          11642255.92   -17154461.9
ARTHUR LANGE-PRF     ALICPN BZ         11642255.92   -17154461.9
ARTHUR LANG-RT C     ARLA1 BZ          11642255.92   -17154461.9
ARTHUR LANG-RT P     ARLA2 BZ          11642255.92   -17154461.9
ARTHUR LANG-RC C     ARLA9 BZ          11642255.92   -17154461.9
ARTHUR LANG-RC P     ARLA10 BZ         11642255.92   -17154461.9
ARTHUR LAN-DVD C     ARLA11 BZ         11642255.92   -17154461.9
ARTHUR LAN-DVD P     ARLA12 BZ         11642255.92   -17154461.9
BOMBRIL              BOBR3 BZ          344846084.5   -16082109.1
BOMBRIL CIRIO SA     BOBRON BZ         344846084.5   -16082109.1
BOMBRIL-PREF         BOBR4 BZ          344846084.5   -16082109.1
BOMBRIL CIRIO-PF     BOBRPN BZ         344846084.5   -16082109.1
BOMBRIL SA-ADR       BMBPY US          344846084.5   -16082109.1
BOMBRIL SA-ADR       BMBBY US          344846084.5   -16082109.1
BUETTNER             BUET3 BZ          106502171.9   -24836079.6
BUETTNER SA          BUETON BZ         106502171.9   -24836079.6
BUETTNER-PREF        BUET4 BZ          106502171.9   -24836079.6
BUETTNER SA-PRF      BUETPN BZ         106502171.9   -24836079.6
BUETTNER SA-RTS      BUET1 BZ          106502171.9   -24836079.6
BUETTNER SA-RT P     BUET2 BZ          106502171.9   -24836079.6
CAF BRASILIA         CAFE3 BZ          160938139.9    -149281089
CAFE BRASILIA SA     CSBRON BZ         160938139.9    -149281089
CAF BRASILIA-PRF     CAFE4 BZ          160938139.9    -149281089
CAFE BRASILIA-PR     CSBRPN BZ         160938139.9    -149281089
CHIARELLI SA         CCHI3 BZ          11165368.88   -88048393.7
CHIARELLI SA         CCHON BZ          11165368.88   -88048393.7
CHIARELLI SA-PRF     CCHI4 BZ          11165368.88   -88048393.7
CHIARELLI SA-PRF     CCHPN BZ          11165368.88   -88048393.7
IGUACU CAFE          IGUA3 BZ          290414420.7   -57976224.4
IGUACU CAFE          IGCSON BZ         290414420.7   -57976224.4
IGUACU CAFE          IGUCF US          290414420.7   -57976224.4
IGUACU CAFE-PR A     IGUA5 BZ          290414420.7   -57976224.4
IGUACU CAFE-PR A     IGCSAN BZ         290414420.7   -57976224.4
IGUACU CAFE-PR A     IGUAF US          290414420.7   -57976224.4
IGUACU CAFE-PR B     IGUA6 BZ          290414420.7   -57976224.4
IGUACU CAFE-PR B     IGCSBN BZ         290414420.7   -57976224.4
COBRASMA             CBMA3 BZ          85057466.09   -2098881762
COBRASMA SA          COBRON BZ         85057466.09   -2098881762
COBRASMA-PREF        CBMA4 BZ          85057466.09   -2098881762
COBRASMA SA-PREF     COBRPN BZ         85057466.09   -2098881762
CONST A LINDEN       CALI3 BZ          12894010.61   -2805191.16
CONST A LINDEN       LINDON BZ         12894010.61   -2805191.16
CONST A LIND-PRF     CALI4 BZ          12894010.61   -2805191.16
CONST A LIND-PRF     LINDPN BZ         12894010.61   -2805191.16
CONST BETER SA       1007Q BZ          31374373.74   -1555470.16
CONST BETER SA       COBEON BZ         31374373.74   -1555470.16
CONST BETER SA       COBE3B BZ         31374373.74   -1555470.16
CONST BETER-PR A     1008Q BZ          31374373.74   -1555470.16
CONST BETER-PR A     COBEAN BZ         31374373.74   -1555470.16
CONST BETER-PF A     COBE5 BZ          31374373.74   -1555470.16
CONST BETER-PR B     1009Q BZ          31374373.74   -1555470.16
CONST BETER-PR B     COBEBN BZ         31374373.74   -1555470.16
CONST BETER-PF B     COBE6 BZ          31374373.74   -1555470.16
CONST BETER-PF A     1COBAN BZ         31374373.74   -1555470.16
CONST BETER-PF B     1COBBN BZ         31374373.74   -1555470.16
CONST BETER SA       1COBON BZ         31374373.74   -1555470.16
D H B                DHBI3 BZ          138254321.9    -115344519
DHB IND E COM        DHBON BZ          138254321.9    -115344519
D H B-PREF           DHBI4 BZ          138254321.9    -115344519
DHB IND E COM-PR     DHBPN BZ          138254321.9    -115344519
DOCA INVESTIMENT     DOCA3 BZ          272567786.7    -202595760
DOCAS SA             DOCAON BZ         272567786.7    -202595760
DOCA INVESTI-PFD     DOCA4 BZ          272567786.7    -202595760
DOCAS SA-PREF        DOCAPN BZ         272567786.7    -202595760
DOCAS SA-RTS PRF     DOCA2 BZ          272567786.7    -202595760
FABRICA RENAUX       FTRX3 BZ          71426302.46   -70883547.3
FABRICA RENAUX       FRNXON BZ         71426302.46   -70883547.3
FABRICA RENAUX-P     FTRX4 BZ          71426302.46   -70883547.3
FABRICA RENAUX-P     FRNXPN BZ         71426302.46   -70883547.3
HAGA                 HAGA3 BZ          20081896.26   -49045924.8
FERRAGENS HAGA       HAGAON BZ         20081896.26   -49045924.8
FER HAGA-PREF        HAGA4 BZ          20081896.26   -49045924.8
FERRAGENS HAGA-P     HAGAPN BZ         20081896.26   -49045924.8
CIMOB PARTIC SA      GAFP3 BZ           44047411.7   -45669963.6
CIMOB PARTIC SA      GAFON BZ           44047411.7   -45669963.6
CIMOB PART-PREF      GAFP4 BZ           44047411.7   -45669963.6
CIMOB PART-PREF      GAFPN BZ           44047411.7   -45669963.6
IGB ELETRONICA       IGBR3 BZ          412300918.9    -112050649
GRADIENTE ELETR      IGBON BZ          412300918.9    -112050649
GRADIENTE-PREF A     IGBR5 BZ          412300918.9    -112050649
GRADIENTE EL-PRA     IGBAN BZ          412300918.9    -112050649
GRADIENTE-PREF B     IGBR6 BZ          412300918.9    -112050649
GRADIENTE EL-PRB     IGBBN BZ          412300918.9    -112050649
GRADIENTE-PREF C     IGBR7 BZ          412300918.9    -112050649
GRADIENTE EL-PRC     IGBCN BZ          412300918.9    -112050649
HOTEIS OTHON SA      HOOT3 BZ          260899978.4   -73596837.4
HOTEIS OTHON SA      HOTHON BZ         260899978.4   -73596837.4
HOTEIS OTHON-PRF     HOOT4 BZ          260899978.4   -73596837.4
HOTEIS OTHON-PRF     HOTHPN BZ         260899978.4   -73596837.4
RENAUXVIEW SA        TXRX3 BZ          118475706.5   -73851057.6
TEXTEIS RENAUX       RENXON BZ         118475706.5   -73851057.6
RENAUXVIEW SA-PF     TXRX4 BZ          118475706.5   -73851057.6
TEXTEIS RENAUX       RENXPN BZ         118475706.5   -73851057.6
PARMALAT             LCSA3 BZ            388720096    -213641152
PARMALAT BRASIL      LCSAON BZ           388720096    -213641152
PARMALAT-PREF        LCSA4 BZ            388720096    -213641152
PARMALAT BRAS-PF     LCSAPN BZ           388720096    -213641152
PARMALAT BR-RT C     LCSA5 BZ            388720096    -213641152
PARMALAT BR-RT P     LCSA6 BZ            388720096    -213641152
ESTRELA SA           ESTR3 BZ          83538938.27    -102223933
ESTRELA SA           ESTRON BZ         83538938.27    -102223933
ESTRELA SA-PREF      ESTR4 BZ          83538938.27    -102223933
ESTRELA SA-PREF      ESTRPN BZ         83538938.27    -102223933
WETZEL SA            MWET3 BZ          93591243.36   -7959637.41
WETZEL SA            MWELON BZ         93591243.36   -7959637.41
WETZEL SA-PREF       MWET4 BZ          93591243.36   -7959637.41
WETZEL SA-PREF       MWELPN BZ         93591243.36   -7959637.41
MINUPAR              MNPR3 BZ          153054387.9   -2037402.69
MINUPAR SA           MNPRON BZ         153054387.9   -2037402.69
MINUPAR-PREF         MNPR4 BZ          153054387.9   -2037402.69
MINUPAR SA-PREF      MNPRPN BZ         153054387.9   -2037402.69
NORDON MET           NORD3 BZ          12234778.35   -30283728.6
NORDON METAL         NORDON BZ         12234778.35   -30283728.6
NORDON MET-RTS       NORD1 BZ          12234778.35   -30283728.6
NOVA AMERICA SA      NOVA3B BZ            21287489    -183535527
NOVA AMERICA SA      NOVAON BZ            21287489    -183535527
NOVA AMERICA-PRF     NOVA4B BZ            21287489    -183535527
NOVA AMERICA-PRF     NOVAPN BZ            21287489    -183535527
NOVA AMERICA-PRF     1NOVPN BZ            21287489    -183535527
NOVA AMERICA SA      1NOVON BZ            21287489    -183535527
RECRUSUL             RCSL3 BZ          41094940.32   -21379158.8
RECRUSUL SA          RESLON BZ         41094940.32   -21379158.8
RECRUSUL-PREF        RCSL4 BZ          41094940.32   -21379158.8
RECRUSUL SA-PREF     RESLPN BZ         41094940.32   -21379158.8
PETRO MANGUINHOS     RPMG3 BZ          246810936.7    -224879124
PETRO MANGUINHOS     MANGON BZ         246810936.7    -224879124
PET MANGUINH-PRF     RPMG4 BZ          246810936.7    -224879124
PETRO MANGUIN-PF     MANGPN BZ         246810936.7    -224879124
RIMET                REEM3 BZ          103098360.9    -185417655
RIMET                REEMON BZ         103098360.9    -185417655
RIMET-PREF           REEM4 BZ          103098360.9    -185417655
RIMET-PREF           REEMPN BZ         103098360.9    -185417655
SANSUY               SNSY3 BZ          183826187.4    -133218258
SANSUY SA            SNSYON BZ         183826187.4    -133218258
SANSUY-PREF A        SNSY5 BZ          183826187.4    -133218258
SANSUY SA-PREF A     SNSYAN BZ         183826187.4    -133218258
SANSUY-PREF B        SNSY6 BZ          183826187.4    -133218258
SANSUY SA-PREF B     SNSYBN BZ         183826187.4    -133218258
BOTUCATU TEXTIL      STRP3 BZ          27663604.95   -7174512.03
STAROUP SA           STARON BZ         27663604.95   -7174512.03
BOTUCATU-PREF        STRP4 BZ          27663604.95   -7174512.03
STAROUP SA-PREF      STARPN BZ         27663604.95   -7174512.03
TEKA                 TEKA3 BZ          341291511.1    -388484677
TEKA                 TEKAON BZ         341291511.1    -388484677
TEKA-PREF            TEKA4 BZ          341291511.1    -388484677
TEKA-PREF            TEKAPN BZ         341291511.1    -388484677
TEKA-ADR             TKTPY US          341291511.1    -388484677
TEKA-ADR             TKTQY US          341291511.1    -388484677
F GUIMARAES          FGUI3 BZ          11016542.14    -151840377
FERREIRA GUIMARA     FGUION BZ         11016542.14    -151840377
F GUIMARAES-PREF     FGUI4 BZ          11016542.14    -151840377
FERREIRA GUIM-PR     FGUIPN BZ         11016542.14    -151840377
VARIG SA             VAGV3 BZ            966298048   -4695211008
VARIG SA             VARGON BZ           966298048   -4695211008
VARIG SA-PREF        VAGV4 BZ            966298048   -4695211008
VARIG SA-PREF        VARGPN BZ           966298048   -4695211008
BATTISTELLA          BTTL3 BZ          246036232.2   -51251360.7
BATTISTELLA-PREF     BTTL4 BZ          246036232.2   -51251360.7
SAUIPE SA            PSEGON BZ         18005034.37   -5223527.47
SAUIPE               PSEG3 BZ          18005034.37   -5223527.47
SAUIPE SA-PREF       PSEGPN BZ         18005034.37   -5223527.47
SAUIPE-PREF          PSEG4 BZ          18005034.37   -5223527.47
CIA PETROLIFERA      MRLM3B BZ         377602195.2   -3014291.72
CIA PETROLIF-PRF     MRLM4B BZ         377602195.2   -3014291.72
CIA PETROLIFERA      1CPMON BZ         377602195.2   -3014291.72
CIA PETROLIF-PRF     1CPMPN BZ         377602195.2   -3014291.72
LATTENO FOOD COR     LATF US              14423532      -3506007
VARIG PART EM TR     VPTA3 BZ          49432124.18    -399290396
VARIG PART EM-PR     VPTA4 BZ          49432124.18    -399290396
VARIG PART EM SE     VPSC3 BZ          83017828.56    -495721700
VARIG PART EM-PR     VPSC4 BZ          83017828.56    -495721700


COLOMBIA
---------

LA POLAR SA          NUEVAPOL CI         623197996    -605184456
PUYEHUE RIGHT        PUYEHUOS CI       24251713.88   -3390038.99
LA POLAR-RT          LAPOLARO CI         623197996    -605184456
LA POLAR-RT          LAPOLAOS CI         623197996    -605184456
LA POLAR SA          LAPOLAR CI          623197996    -605184456
PUYEHUE              PUYEH CI          24251713.88   -3390038.99



                            ***********


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., Washington, D.C.,
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 2013.  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$775 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 A. Chapman at 215-945-7000 or Nina Novak at
202-241-8200.


                   * * * End of Transmission * * *