/raid1/www/Hosts/bankrupt/TCRLA_Public/130730.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, July 30, 2013, Vol. 14, No. 149
Headlines
B R A Z I L
JBS SA: Vigor Shareholders May Return to JBS Shareholders Status
SMU SA: Weak Performance Prompts Moody's to Cut CFR to B3
C A Y M A N I S L A N D S
AFS CAYMAN: Creditors' Proofs of Debt Due Aug. 19
AFS CAYMAN: Members to Hold Final Meeting on Aug. 22
AFS CAYMAN II: Creditors' Proofs of Debt Due Aug. 19
AFS CAYMAN II: Members to Hold Final Meeting on Aug. 22
CARGILL GLOBAL: Creditors' Proofs of Debt Due Aug. 19
CARGILL GLOBAL: Members to Hold Final Meeting on Aug. 20
EBANK CAPITAL: Creditors' Proofs of Debt Due Aug. 19
ML HEDGE: Creditors' Proofs of Debt Due Aug. 19
ML HEDGE: Members to Hold Final Meeting on Aug. 20
PRADO CDO: Creditors' Proofs of Debt Due Aug. 19
PRADO CDO: Members to Hold Final Meeting on Aug. 22
THORIUM INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 19
THORIUM INTERNATIONAL: Members to Hold Final Meeting on Aug. 22
TOKAI TOKYO: Creditors' Proofs of Debt Due Aug. 19
TOKAI TOKYO MASTER: Creditors' Proofs of Debt Due Aug. 19
C O S T A R I C A
BANCO DE COSTA RICA: Fitch to Rate $500MM Unsec. Bond at 'BB+'
D O M I N I C A N R E P U B L I C
* DOMINICAN REP: 3% Growth in 2013 On Par With Latam, Caribbean
J A M A I C A
GSC LTD: To Cease Operations Due to Economic Downturn
M E X I C O
GRUPO GAYOSSO: Fitch Withdraws 'B' Rating on $150MM Debt Issuance
X X X X X X X X
Large Companies With Insolvent Balance Sheets
- - - - -
===========
B R A Z I L
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JBS SA: Vigor Shareholders May Return to JBS Shareholders Status
----------------------------------------------------------------
JBS S.A. and Vigor Alimentos S.A., in accordance with Law no.
6,404, dated Dec. 15, 1976 and Brazilian Securities and Exchange
Commission requirements set forth in CVM Instruction no. 358,
dated Jan. 3, 2002, as amended, inform their shareholders and the
market in general the following:
As a result of a transaction occurred in June 2012, which aimed at
adding value to all the shareholders of JBS through the separation
of its dairy segment, and which made Vigor an entity independent
from JBS, Vigor obtained its publicly-held company registration
and had its ordinary shares admitted to and traded on the Novo
Mercado listing segment of BM&FBOVESPA. Such transaction was
implemented through a voluntary public tender offer which
guaranteed to all shareholders of JBS the opportunity to, at their
discretion, migrate their investment in JBS to Vigor, subject to
certain conditions provided at that time.
Since the beginning of trading on the Novo Mercado listing segment
until the present time, Vigor's shares have not yet reached the
expected level of liquidity, at the expense of a better pricing
for such shares. Therefore, FB Participacoes S.A., in its
capacity as Vigor's controlling shareholder, undertook an
irreversible and irrevocable commitment with shareholder BNDES
Participacoes S.A. -- to implement a transaction, on a voluntary
basis, that ensures the opportunity to all shareholders of Vigor
to return to their status as shareholders of JBS, and receive the
economic rights that they would be entitled to receive had they
remained JBS' shareholders since June 2012.
Thus, subject to legal and regulatory terms and deadlines, FB has
undertaken to conduct a Voluntary Public Tender Offer for the
Acquisition of Common Shares Issued by Vigor in Exchange for
Common Shares Issued by JBS, aimed at one hundred percent (100%)
of the outstanding shares of Vigor, with mixed liquidation, being
one (1) common share issued by Vigor exchanged by one (1) common
share issued by JBS, plus R$0.010812573 per share, an amount
equivalent to the difference between the dividends declared by JBS
and Vigor in the period. Such amount shall be adjusted by the CDI
variation from its payment date to the date of the Auction. In
addition, FB has committed not to transfer, sell, assign or
otherwise dispose of, pledge or encumber fifty-one million, two
hundred and eighty-one thousand, four hundred and thirty-two
(51,281,432) shares issued by JBS that it holds until the date of
the auction of the
Exchange Offer
Such commitment of FB intends to ensure the possibility to all
shareholders of Vigor to equally and voluntary choose to hold
shares with more liquidity. BNDESPAR has made a firm commitment
to fully adhere to the Exchange Offer.
Notwithstanding the above, FB and the management of Vigor are
still committed to the execution of Vigor's strategic plan,
focusing on higher added value products and geographic expansion,
as the acquisition of fifty percent (50%) of the common shares
issued by Itambe Alimentos S.A., for example, a transaction that
was submitted and approved without any restrictions by the
Brazilian Antitrust Authorities - CADE. Both recent and future
strategic movements of Vigor will be funded through ongoing access
to the Brazilian capital markets in short and medium terms.
Aware of the obligation set forth in item 3.1 (vi) of the
Regulations of the Novo Mercado listing segment of BM&FBOVESPA, FB
and Vigor will apply for an authorization to be granted by
BM&FBOVESPA to maintain a Minimal Free Float Percentage, as
defined therein, at a level below twenty five percent (25%) after
the liquidation of the Exchange Offer and for a period to be
established by BM&FBOVESPA.
In this sense, FB will timely submit the request of registration
of the Exchange Offer to CVM and BM&FBOVESPA.
JBS and Vigor will keep their shareholders and the market in
general informed regarding the progress of the Exchange Offer.
* * *
As reported in the Troubled Company Reporter-Latin America on
June 14, 2013, Fitch Ratings has placed JBS S.A.'s (JBS) ratings
on Negative Watch following the announcement that it will acquire
certain assets from Marfrig Alimentos S.A.'s (Marfrig), including
Marfrig's Seara Brazil (Seara) business through the assumption of
BRL5.85 billion (USD2.9 billion) of Marfrig's bank debt with
maturities between 2013 and 2017. The completion of the
transaction would require the approval of CADE, the Brazilian
antitrust authority.
SMU SA: Weak Performance Prompts Moody's to Cut CFR to B3
---------------------------------------------------------
Moody's Investors Service downgraded SMU S.A.'s Corporate Family
Rating and its $300 million senior unsecured notes due in 2023 to
B3 from B2 and placed all ratings on review for further downgrade.
Ratings Rationale:
"The rating downgrade of SMU is driven by the company's weaker
than expected operating results since September 2012 that led to
higher than expected leverage and weaker overall credit metrics
that are no longer commensurate with the B2 rating category,"
explained Soummo Mukherjee, Moody's Vice President. "The ratings
review for further downgrade reflects the company's recent changes
in management and consequently a review of its financial and
operating strategy going forward that is likely to focus on an
overall downsizing of operations when compared to its previous
plan and a planned capital increase of up to $ 500 million."
Moody's review for downgrade will focus on the company's ability
to raise equity and solve its liquidity concerns by addressing the
breached covenants under some of its loan documents. At the same
time, Moody's will assess the company's revised business plans and
resulting capital structure to determine the appropriate rating
level.
On July 11, 2013, SMU announced that, due to reporting errors
impacting about 40% of its store lease contracts, the company's
financial liabilities and EBITDA were misstated according to IFRS
standards, causing the company to be in violation of some of its
bond covenants. In order to mitigate this credit negative event,
the company unveiled plans to raise up to $ 500 million of equity,
that will be subject to an extraordinary shareholder meeting on
August 8, where its controlling shareholder, CorpGroup (unrated),
owned by Mr. Alvaro Saieh, is expected to commit between $250 to
300 million to support SMU's future plans. Moody's notes that,
given the company's difficult financial situation and lackluster
market environment, SMU's capital raising plans face a moderate
degree of execution uncertainty.
SMU's 1st quarter results ended in March 31, 2013 reported weaker
than expected cash flow generation and EBITDA margins due to
supplier-related problems in the last two quarters. The company
has made changes to its management team in the recent months and
is now considering a new business plan that includes a number of
store closings, an optimization in workforce and focus on lowering
costs.
On July 23 and 24, SMU obtained waivers from its banks the
covenant breached, resulting from a ratings trigger of its local
ratings in its bank contracts. The company is still under its cure
period within the indenture of its local bonds for the breach of
the two financial covenants. This period will expire at the
earliest on August 27, 2013.
The principal methodology used in this rating was the Global
Retail Industry Methodology published in June 2011.
Headquartered in Santiago, Chile, SMU is one of the largest
Chilean food retail companies with a network of stores that
includes a total of 339 supermarkets, 148 wholesale stores, 84
convenient stores, 34 construction material wholesale stores and
an online grocer.
==========================
C A Y M A N I S L A N D S
==========================
AFS CAYMAN: Creditors' Proofs of Debt Due Aug. 19
-------------------------------------------------
The creditors of AFS Cayman Limited are required to file their
proofs of debt by Aug. 19, 2013, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on July 16, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
AFS CAYMAN: Members to Hold Final Meeting on Aug. 22
----------------------------------------------------
The members of AFS Cayman Limited will hold their final meeting on
Aug. 22, 2013, at 10:10 a.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
AFS CAYMAN II: Creditors' Proofs of Debt Due Aug. 19
----------------------------------------------------
The creditors of AFS Cayman II Limited are required to file their
proofs of debt by Aug. 19, 2013, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on July 16, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
AFS CAYMAN II: Members to Hold Final Meeting on Aug. 22
-------------------------------------------------------
The members of AFS Cayman II Limited will hold their final meeting
on Aug. 22, 2013, at 10:20 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
CARGILL GLOBAL: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------------
The creditors of Cargill Global Trading are required to file their
proofs of debt by Aug. 19, 2013, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on July 9, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
CARGILL GLOBAL: Members to Hold Final Meeting on Aug. 20
--------------------------------------------------------
The members of Cargill Global Trading will hold their final
meeting on Aug. 20, 2013, at 9:20 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
EBANK CAPITAL: Creditors' Proofs of Debt Due Aug. 19
----------------------------------------------------
The creditors of Ebank Capital Management (Cayman) Ltd. are
required to file their proofs of debt by Aug. 19, 2013, to be
included in the company's dividend distribution.
The company commenced liquidation proceedings on July 12, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
ML HEDGE: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------
The creditors of ML Hedge Fund Ventures II are required to file
their proofs of debt by Aug. 19, 2013, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on July 16, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
ML HEDGE: Members to Hold Final Meeting on Aug. 20
--------------------------------------------------
The members of ML Hedge Fund Ventures II will hold their final
meeting on Aug. 20, 2013, at 9:15 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
PRADO CDO: Creditors' Proofs of Debt Due Aug. 19
------------------------------------------------
The creditors of Prado CDO Ltd. are required to file their proofs
of debt by Aug. 19, 2013, to be included in the company's dividend
distribution.
The company commenced liquidation proceedings on July 15, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
PRADO CDO: Members to Hold Final Meeting on Aug. 22
---------------------------------------------------
The members of Prado CDO Ltd. will hold their final meeting on
Aug. 22, 2013, 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:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
THORIUM INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 19
------------------------------------------------------------
The creditors of Thorium International Commodities Fund Ltd. are
required to file their proofs of debt by Aug. 19, 2013, to be
included in the company's dividend distribution.
The company commenced liquidation proceedings on July 18, 2013.
The company's liquidator is:
Mervin Solas
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
THORIUM INTERNATIONAL: Members to Hold Final Meeting on Aug. 22
---------------------------------------------------------------
The members of Thorium International Commodities Fund Ltd. will
hold their final meeting on Aug. 22, 2013, at 1:30 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.
The company's liquidator is:
Mervin Solas
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
TOKAI TOKYO: Creditors' Proofs of Debt Due Aug. 19
--------------------------------------------------
The creditors of Tokai Tokyo Asia Renaissance Fund Limited are
required to file their proofs of debt by Aug. 19, 2013, to be
included in the company's dividend distribution.
The company commenced liquidation proceedings on July 12, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
TOKAI TOKYO MASTER: Creditors' Proofs of Debt Due Aug. 19
---------------------------------------------------------
The creditors of Tokai Tokyo Asia Renaissance Master Fund Limited
are required to file their proofs of debt by Aug. 19, 2013, to be
included in the company's dividend distribution.
The company commenced liquidation proceedings on July 12, 2013.
The company's liquidator is:
Marc Randall
c/o Maples Liquidation Services (Cayman) Limited
PO Box 1093, Boundary Hall
Grand Cayman KY1-1102
Cayman Islands
==================
C O S T A R I C A
==================
BANCO DE COSTA RICA: Fitch to Rate $500MM Unsec. Bond at 'BB+'
--------------------------------------------------------------
Fitch Ratings expects to assign a 'BB+(EXP)' rating to Banco de
Costa Rica's (BCR) proposed senior unsecured bond issuance of up
to USD 500 million due in 2023. Proceeds are expected to be used
for debt repayment and asset liability management improvement. The
final rating of the issuance is contingent upon the receipt of
final documents and legal opinions conforming to the information
already received.
KEY RATING DRIVERS
BCR's IDR and the expected issuance rating are aligned with Costa
Rica's sovereign ratings. The ratings are driven by the sovereign
guarantees for all of the bank's liabilities. According to Costa
Rica's banking law (Ley Organica del Sistema Bancario Nacional),
all state-owned banks have the guarantee and full collaboration of
the state.
BCR is one of the strongest banks in Costa Rica. Its solid
franchise benefits from sovereign guarantee, consistent
performance, and an extensive branch network. BCR is the second
largest bank in Costa Rica in terms of assets and deposits, and
enjoys a well-diversified loan portfolio. The bank complements its
services with four wholly owned subsidiaries in regulated non-
credit activities in Costa Rica and a 51% participation in the
Panamanian general licence bank Banco Internacional de Costa Rica
(BICSA, rated 'BB+' with a Stable Outlook by Fitch), which allows
it to extend its business abroad.
BCR's profitability is modest but sufficient to support asset
growth and maintain and adequate capital position. ROAA has
remained consistently around 1%, below its international peers'
average. High operating expenses will continue to limit
profitability. Similar to other state-owned institutions, BCR's
efficiency indicators compare below its international peers'
average.
The bank's risk appetite is moderate, and asset growth remains
modest. A restriction placed by the Central Bank in February has
limited the asset growth of the Costa Rican financial system.
However, BCR maintains its loan portfolio growth close to its
historic average, as the limit established by the Central Bank is
well above BCR's loan portfolio growth historic average.
Asset quality remains adequate and compares favorably with
international peers' average. BCR's growth toward a more balanced
portfolio has improved loan portfolio diversification while
keeping loan portfolio dollarization, a concern to most Costa
Rican banks, at a moderate level.
BCR's deposit base remains as its main funding source. Further
diversification has been achieved by local bond and notes
issuances, ample credit lines from international banks and a
subordinated debt agreement for USD30 million with the Inter-
American Investment Corporation. Asset liability management
presents some challenges related to tenure mismatches, partly
offset by deposit's stability and adequate liquidity coverage.
Fitch expects the proposed long-term issuance be used for short-
term debt repayment.
RATINGS SENSITIVITIES
Changes in the bank's IDRs and issuance ratings are contingent on
sovereign rating actions for Costa Rica (rated 'BB+'; Stable
Outlook).
Fitch has assigned the following rating to BCR's proposed USD500
milion issuance:
-- Long-term senior unsecured bonds 'BB+(EXP)'
Fitch currently rates BCR as follows:
International ratings
-- Long-term IDR 'BB+', Outlook Stable;
-- Short-term IDR 'B';
-- Long-term local currency IDR 'BB+', Outlook Stable;
-- Short-term local currency IDR 'B';
-- Viability Rating 'bb+';
-- Support Rating '3';
-- Support Rating Floor 'BB+'.
National ratings:
-- Long-term national rating 'AA+(cri)', Outlook Stable;
-- Short-term national rating 'F1+(cri)';
-- Long-term senior unsecured bonds 'AA+(cri)';
-- Commercial paper 'F1+(cri)'.
===================================
D O M I N I C A N R E P U B L I C
===================================
* DOMINICAN REP: 3% Growth in 2013 On Par With Latam, Caribbean
---------------------------------------------------------------
Dominican Today reports that the Dominican economy will grow 3%
this year, the same as the forecast for Latin America and
Caribbean, and similar to last year rate, says a new report from
Economic Commission for Latin America (ECLA), released in
Santiago, Chile.
According to the report, in its Economic Survey of Latin America
and the Caribbean 2013, ECLAC notes that the decline in growth
compared with the last estimate (3.5% in April) is due in part to
deceleration in Brazil and Mexico.
The report notes that at a press conference, ECLAC also said
several countries which had boasted high growth rates, such as
Chile, Panama and Peru, show a slowdown in economic activity in
recent months.
Dominican Today discloses that the report adds that the region
shows some weaknesses with short and long term affects on the
current negative backdrop abroad, a high dependence on exports to
Europe and China and a growing current account deficit among them.
=============
J A M A I C A
=============
GSC LTD: To Cease Operations Due to Economic Downturn
-----------------------------------------------------
Marina Mello at Royal Gazette reports that GSC Ltd, one of the
Island's largest air conditioning and mechanical companies, has
shut down operations -- a victim of the economic downturn and
severe construction slowdown.
The company, which has operated for 15 years and once employed as
many as 63 people, said its workers at the new KEMH site were
expected to continue on there with another employer, which it
declined to name, according to Royal Gazette. The report relates
that Airserv, the service and installation arm will continue.
The report notes that a GSC spokesman said the company has faced a
slew of challenges that came on together, including increased
competition in the HVAC sector and a massive theft of what he said
was more than $400,000 in Mitsubishi equipment. The spokesman
said the insurers declined GSC's claim due to lack of forced
entry, the report says.
The report relates that after that, the company, acquired from the
previous owner in late 2008, said major construction work started
to dry up and its Cayman operation was impacted by budget
challenges in the islands and GSC had to withdraw from the
venture.
"It is with great regret that we provide notice that GSC Limited
will be reducing its operations effective immediately. . . . GSC
Limited has existed for the past 15 years and has seen both
upticks and downturns in the economy. Over the past three years
we have experienced a continued decline in major construction. We
have also experienced challenges in collecting amounts due from
residential and commercial customers following the provision of
service to them. This has had a negative impact on our cash flows
and has impacted our ability to settle accounts as they have
become due. We have therefore made the decision to reduce
operations in the interest on stemming the continued deterioration
of GSC Limited. GSC Limited has employed a number of persons in
various trades. We have made arrangements for most of our
employees to secure employment with alternate organizations. The
majority of staff inclusive of Bermudians and non Bermudians were
employed at the KEMH site," GSC said in a statement obtained by
the news agency.
"Those employees are expected to continue their employment on that
site with another employer. That employer has been actively
involved since the projects inception and has a solid
understanding of the project. They also have the firm ability to
ensure no delays or disruptions will occur as a result of this
occurrence. In all these efforts will see the vast majority of
staff accommodated as we seek to ensure continuity for their
households and families. . . . We would like to thank the Bermuda
public for its support over the past many years and are saddened
by this turn of events," the reported GSC spokesperson as saying.
The report notes that the petition was presented by GSC creditor
Keen Ltd, a major high lift rental and electrical services
company.
Royal Gazette adds that GSC earlier this month laid off 22
employees at the KEMH site.
===========
M E X I C O
===========
GRUPO GAYOSSO: Fitch Withdraws 'B' Rating on $150MM Debt Issuance
-----------------------------------------------------------------
Fitch Ratings has withdrawn the 'B(exp)/RR4' rating on Grupo
Gayosso S.A. de C.V.'s (Gayosso) proposed USD$150 million debt
issuance.
Proceeds were intended to pay down existing debt, as well as for
general corporate uses. As there is no set time frame for resuming
the issuance process, no rating is required at this time.
Fitch currently rates Gayosso as follows:
-- Foreign currency Issuer Default Rating (IDR) 'B';
-- Local currency IDR 'B';
The Rating Outlook is Stable.
===============
X X X X X X X X
===============
Large Companies With Insolvent Balance Sheets
---------------------------------------------
Total
Total Shareholders
Assets Equity
Company Ticker (US$MM) (US$MM)
------- ------ --------- ------------
ARGENTINA
---------
SNIAFA SA-B SDAGF US 11229696.2 -2670544.88
CENTRAL COSTAN-B CRCBF US 355868838 -87473853.3
EDENOR-B DNOR AR 1394532232 -3893195.32
EMP DISTRIB-ADR EDN US 1394532232 -3893195.32
EMP DISTRIB-ADR PWD1 GR 1394532232 -3893195.32
EDENOR-B US$ DNORD AR 1394532232 -3893195.32
EDENOR-B C/E DNORC AR 1394532232 -3893195.32
EMPRESA DISTRI-A 0122196D AR 1394532232 -3893195.32
EMPRESA DISTRI-C 0122368D AR 1394532232 -3893195.32
ENDESA COSTAN-A CECO1 AR 355868838 -87473853.3
ENDESA COSTAN- CECO2 AR 355868838 -87473853.3
CENTRAL COST-BLK CECOB AR 355868838 -87473853.3
ENDESA COSTAN- CECOD AR 355868838 -87473853.3
ENDESA COSTAN- CECOC AR 355868838 -87473853.3
ENDESA COSTAN- EDCFF US 355868838 -87473853.3
CENTRAL COSTAN-C CECO3 AR 355868838 -87473853.3
CENTRAL COST-ADR CCSA LI 355868838 -87473853.3
ENDESA COST-ADR CRCNY US 355868838 -87473853.3
CENTRAL COSTAN-B CNRBF US 355868838 -87473853.3
SNIAFA SA SNIA AR 11229696.2 -2670544.88
SNIAFA SA-B SNIA5 AR 11229696.2 -2670544.88
EDENOR-B EDN AR 1394532232 -3893195.32
EDENOR-B EDNC AR 1394532232 -3893195.32
EDENOR-B EDND AR 1394532232 -3893195.32
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
PETROLERA DEL CO PSUR AR 64304553.9 -1269120.56
BRAZIL
------
FABRICA TECID-RT FTRX1 BZ 66603693.6 -76419244.2
TEKA-ADR TEKAY US 407967021 -392649052
BOMBRIL BMBBF US 359985634 -12154088.6
TEKA TKTQF US 407967021 -392649052
TEKA-PREF TKTPF US 407967021 -392649052
VULCABRAS-RIGHT VULC1 BZ 656823700 -17327661.6
VULCABRAS-RIGHT VULC2 BZ 656823700 -17327661.6
VULCABRAS-RECEIP VULC9 BZ 656823700 -17327661.6
VULCABRAS-REC PR VULC10 BZ 656823700 -17327661.6
BATTISTELLA-RIGH BTTL1 BZ 158330518 -36518145.6
BATTISTELLA-RI P BTTL2 BZ 158330518 -36518145.6
BATTISTELLA-RECE BTTL9 BZ 158330518 -36518145.6
BATTISTELLA-RECP BTTL10 BZ 158330518 -36518145.6
AGRENCO LTD-BDR AGEN11 BZ 339244079 -561405855
REII INC REIC US 14423532 -3506007
PET MANG-RIGHTS 3678565Q BZ 246810937 -224879124
PET MANG-RIGHTS 3678569Q BZ 246810937 -224879124
PET MANG-RECEIPT 0229292Q BZ 246810937 -224879124
PET MANG-RECEIPT 0229296Q BZ 246810937 -224879124
LUPATECH SA LUPA3 BZ 754879275 -127862714
REDE EMP ENE ELE ELCA4 BZ 1175265498 -62202546.7
REDE EMP ENE ELE ELCA3 BZ 1175265498 -62202546.7
BOMBRIL HOLDING FPXE3 BZ 19416015.8 -489914902
BOMBRIL FPXE4 BZ 19416015.8 -489914902
SANESALTO SNST3 BZ 24630103.9 -10366431.8
B&D FOOD CORP BDFCE US 14423532 -3506007
BOMBRIL-RGTS PRE BOBR2 BZ 359985634 -12154088.6
BOMBRIL-RIGHTS BOBR1 BZ 359985634 -12154088.6
LAEP-BDR MILK11 BZ 222902263 -255311019
AGRENCO LTD AGRE LX 339244079 -561405855
LAEP INVESTMENTS LEAP LX 222902263 -255311019
LUPATECH SA LUPAF US 754879275 -127862714
REDE ENERG-UNIT REDE11 BZ 1175265498 -62202546.7
CELGPAR GPAR3 BZ 224346590 -1034483191
RECRUSUL - RT 4529781Q BZ 48003655.5 -18502124.9
RECRUSUL - RT 4529785Q BZ 48003655.5 -18502124.9
RECRUSUL - RCT 4529789Q BZ 48003655.5 -18502124.9
RECRUSUL - RCT 4529793Q BZ 48003655.5 -18502124.9
REDE ENER-RT 3907727Q BZ 1175265498 -62202546.7
REDE ENER-RCT 3907731Q BZ 1175265498 -62202546.7
RECRUSUL-BON RT RCSL11 BZ 48003655.5 -18502124.9
RECRUSUL-BON RT RCSL12 BZ 48003655.5 -18502124.9
BALADARE BLDR3 BZ 159454016 -52992212.8
TEXTEIS RENAU-RT TXRX1 BZ 97868151.6 -91899413.1
TEXTEIS RENAU-RT TXRX2 BZ 97868151.6 -91899413.1
TEXTEIS RENA-RCT TXRX9 BZ 97868151.6 -91899413.1
TEXTEIS RENA-RCT TXRX10 BZ 97868151.6 -91899413.1
CIA PETROLIF-PRF MRLM4 BZ 377602195 -3014291.72
CIA PETROLIFERA MRLM3 BZ 377602195 -3014291.72
NOVA AMERICA SA NOVA3 BZ 21287489 -183535527
NOVA AMERICA-PRF NOVA4 BZ 21287489 -183535527
LUPATECH SA-RT LUPA11 BZ 754879275 -127862714
ALL ORE MINERACA AORE3 BZ 18737017.6 -11880129.6
B&D FOOD CORP BDFC US 14423532 -3506007
LUPATECH SA-ADR LUPAY US 754879275 -127862714
PET MANG-RT 4115360Q BZ 246810937 -224879124
PET MANG-RT 4115364Q BZ 246810937 -224879124
REDE ENER-RT REDE1 BZ 1175265498 -62202546.7
REDE ENER-RCT REDE9 BZ 1175265498 -62202546.7
REDE ENER-RT REDE2 BZ 1175265498 -62202546.7
REDE ENER-RCT REDE10 BZ 1175265498 -62202546.7
STEEL - RT STLB1 BZ 18737017.6 -11880129.6
STEEL - RCT ORD STLB9 BZ 18737017.6 -11880129.6
MINUPAR-RT 9314542Q BZ 136398462 -91947867.2
MINUPAR-RCT 9314634Q BZ 136398462 -91947867.2
PET MANG-RT 0229249Q BZ 246810937 -224879124
PET MANG-RT 0229268Q BZ 246810937 -224879124
RECRUSUL - RT 0163579D BZ 48003655.5 -18502124.9
RECRUSUL - RT 0163580D BZ 48003655.5 -18502124.9
RECRUSUL - RCT 0163582D BZ 48003655.5 -18502124.9
RECRUSUL - RCT 0163583D BZ 48003655.5 -18502124.9
PORTX OPERA-GDR PXTPY US 976769403 -9407990.35
PORTX OPERACOES PRTX3 BZ 976769403 -9407990.35
ALL ORE MINERACA STLB3 BZ 18737017.6 -11880129.6
MINUPAR-RT 0599562D BZ 136398462 -91947867.2
MINUPAR-RCT 0599564D BZ 136398462 -91947867.2
PET MANG-RT RPMG2 BZ 246810937 -224879124
PET MANG-RT 0848424D BZ 246810937 -224879124
PET MANG-RECEIPT RPMG9 BZ 246810937 -224879124
PET MANG-RECEIPT RPMG10 BZ 246810937 -224879124
LAEP INVESTMEN-B 0122427D LX 222902263 -255311019
LAEP INVES-BDR B 0163599D BZ 222902263 -255311019
RECRUSUL - RT 0614673D BZ 48003655.5 -18502124.9
RECRUSUL - RT 0614674D BZ 48003655.5 -18502124.9
RECRUSUL - RCT 0614675D BZ 48003655.5 -18502124.9
RECRUSUL - RCT 0614676D BZ 48003655.5 -18502124.9
TEKA-RTS TEKA1 BZ 407967021 -392649052
TEKA-RTS TEKA2 BZ 407967021 -392649052
TEKA-RCT TEKA9 BZ 407967021 -392649052
TEKA-RCT TEKA10 BZ 407967021 -392649052
LUPATECH SA-RTS LUPA1 BZ 754879275 -127862714
LUPATECH SA -RCT LUPA9 BZ 754879275 -127862714
MINUPAR-RTS MNPR1 BZ 136398462 -91947867.2
MINUPAR-RCT MNPR9 BZ 136398462 -91947867.2
RECRUSUL SA-RTS RCSL1 BZ 48003655.5 -18502124.9
RECRUSUL SA-RTS RCSL2 BZ 48003655.5 -18502124.9
RECRUSUL SA-RCT RCSL9 BZ 48003655.5 -18502124.9
RECRUSUL - RCT RCSL10 BZ 48003655.5 -18502124.9
PET MANG-RTS RPMG1 BZ 246810937 -224879124
ARTHUR LANGE ARLA3 BZ 11642255.9 -17154461.9
ARTHUR LANGE SA ALICON BZ 11642255.9 -17154461.9
ARTHUR LANGE-PRF ARLA4 BZ 11642255.9 -17154461.9
ARTHUR LANGE-PRF ALICPN BZ 11642255.9 -17154461.9
ARTHUR LANG-RT C ARLA1 BZ 11642255.9 -17154461.9
ARTHUR LANG-RT P ARLA2 BZ 11642255.9 -17154461.9
ARTHUR LANG-RC C ARLA9 BZ 11642255.9 -17154461.9
ARTHUR LANG-RC P ARLA10 BZ 11642255.9 -17154461.9
ARTHUR LAN-DVD C ARLA11 BZ 11642255.9 -17154461.9
ARTHUR LAN-DVD P ARLA12 BZ 11642255.9 -17154461.9
BOMBRIL BOBR3 BZ 359985634 -12154088.6
BOMBRIL CIRIO SA BOBRON BZ 359985634 -12154088.6
BOMBRIL-PREF BOBR4 BZ 359985634 -12154088.6
BOMBRIL CIRIO-PF BOBRPN BZ 359985634 -12154088.6
BOMBRIL SA-ADR BMBPY US 359985634 -12154088.6
BOMBRIL SA-ADR BMBBY US 359985634 -12154088.6
BUETTNER BUET3 BZ 109743344 -29812083.5
BUETTNER SA BUETON BZ 109743344 -29812083.5
BUETTNER-PREF BUET4 BZ 109743344 -29812083.5
BUETTNER SA-PRF BUETPN BZ 109743344 -29812083.5
BUETTNER SA-RTS BUET1 BZ 109743344 -29812083.5
BUETTNER SA-RT P BUET2 BZ 109743344 -29812083.5
CAF BRASILIA CAFE3 BZ 160938140 -149281089
CAFE BRASILIA SA CSBRON BZ 160938140 -149281089
CAF BRASILIA-PRF CAFE4 BZ 160938140 -149281089
CAFE BRASILIA-PR CSBRPN BZ 160938140 -149281089
REDE ENERGIA SA REDE3 BZ 1175265498 -62202546.7
CAIUA SA ELCON BZ 1175265498 -62202546.7
REDE EMPRESAS-PR REDE4 BZ 1175265498 -62202546.7
CAIUA SA-PREF ELCPN BZ 1175265498 -62202546.7
CAIUA SA-PRF B ELCA6 BZ 1175265498 -62202546.7
CAIUA SA-PRF B ELCBN BZ 1175265498 -62202546.7
CAIUA SA-RTS ELCA2 BZ 1175265498 -62202546.7
CAIUA SA-DVD CMN ELCA11 BZ 1175265498 -62202546.7
CAIUA SA-RCT PRF ELCA10 BZ 1175265498 -62202546.7
CAIUA SA-DVD COM ELCA12 BZ 1175265498 -62202546.7
CAIUA ELEC-C RT ELCA1 BZ 1175265498 -62202546.7
CAIUA SA-PRF A ELCAN BZ 1175265498 -62202546.7
CAIUA SA-PRF A ELCA5 BZ 1175265498 -62202546.7
CAIVA SERV DE EL 1315Z BZ 1175265498 -62202546.7
CHIARELLI SA CCHI3 BZ 10063296.6 -79357620
CHIARELLI SA CCHON BZ 10063296.6 -79357620
CHIARELLI SA-PRF CCHI4 BZ 10063296.6 -79357620
CHIARELLI SA-PRF CCHPN BZ 10063296.6 -79357620
IGUACU CAFE IGUA3 BZ 241713948 -76084456.4
IGUACU CAFE IGCSON BZ 241713948 -76084456.4
IGUACU CAFE IGUCF US 241713948 -76084456.4
IGUACU CAFE-PR A IGUA5 BZ 241713948 -76084456.4
IGUACU CAFE-PR A IGCSAN BZ 241713948 -76084456.4
IGUACU CAFE-PR A IGUAF US 241713948 -76084456.4
IGUACU CAFE-PR B IGUA6 BZ 241713948 -76084456.4
IGUACU CAFE-PR B IGCSBN BZ 241713948 -76084456.4
SCHLOSSER SCLO3 BZ 57116502.2 -55719508.9
SCHLOSSER SA SCHON BZ 57116502.2 -55719508.9
SCHLOSSER-PREF SCLO4 BZ 57116502.2 -55719508.9
SCHLOSSER SA-PRF SCHPN BZ 57116502.2 -55719508.9
COBRASMA CBMA3 BZ 83714759.4 -2293331419
COBRASMA SA COBRON BZ 83714759.4 -2293331419
COBRASMA-PREF CBMA4 BZ 83714759.4 -2293331419
COBRASMA SA-PREF COBRPN BZ 83714759.4 -2293331419
D H B DHBI3 BZ 110495982 -162541773
DHB IND E COM DHBON BZ 110495982 -162541773
D H B-PREF DHBI4 BZ 110495982 -162541773
DHB IND E COM-PR DHBPN BZ 110495982 -162541773
DOCA INVESTIMENT DOCA3 BZ 273120342 -211736207
DOCAS SA DOCAON BZ 273120342 -211736207
DOCA INVESTI-PFD DOCA4 BZ 273120342 -211736207
DOCAS SA-PREF DOCAPN BZ 273120342 -211736207
DOCAS SA-RTS PRF DOCA2 BZ 273120342 -211736207
FABRICA RENAUX FTRX3 BZ 66603693.6 -76419244.2
FABRICA RENAUX FRNXON BZ 66603693.6 -76419244.2
FABRICA RENAUX-P FTRX4 BZ 66603693.6 -76419244.2
FABRICA RENAUX-P FRNXPN BZ 66603693.6 -76419244.2
HAGA HAGA3 BZ 19421487.9 -46077943.1
FERRAGENS HAGA HAGAON BZ 19421487.9 -46077943.1
FER HAGA-PREF HAGA4 BZ 19421487.9 -46077943.1
FERRAGENS HAGA-P HAGAPN BZ 19421487.9 -46077943.1
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 363687063 -27195507.3
GRADIENTE ELETR IGBON BZ 363687063 -27195507.3
GRADIENTE-PREF A IGBR5 BZ 363687063 -27195507.3
GRADIENTE EL-PRA IGBAN BZ 363687063 -27195507.3
GRADIENTE-PREF B IGBR6 BZ 363687063 -27195507.3
GRADIENTE EL-PRB IGBBN BZ 363687063 -27195507.3
GRADIENTE-PREF C IGBR7 BZ 363687063 -27195507.3
GRADIENTE EL-PRC IGBCN BZ 363687063 -27195507.3
HOTEIS OTHON SA HOOT3 BZ 253308748 -83119368.3
HOTEIS OTHON SA HOTHON BZ 253308748 -83119368.3
HOTEIS OTHON-PRF HOOT4 BZ 253308748 -83119368.3
HOTEIS OTHON-PRF HOTHPN BZ 253308748 -83119368.3
RENAUXVIEW SA TXRX3 BZ 97868151.6 -91899413.1
TEXTEIS RENAUX RENXON BZ 97868151.6 -91899413.1
RENAUXVIEW SA-PF TXRX4 BZ 97868151.6 -91899413.1
TEXTEIS RENAUX RENXPN BZ 97868151.6 -91899413.1
PARMALAT LCSA3 BZ 388720096 -213641152
PARMALAT BRASIL LCSAON BZ 388720096 -213641152
PADMA INDUSTRIA 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 72008697.6 -116219949
ESTRELA SA ESTRON BZ 72008697.6 -116219949
ESTRELA SA-PREF ESTR4 BZ 72008697.6 -116219949
ESTRELA SA-PREF ESTRPN BZ 72008697.6 -116219949
WETZEL SA MWET3 BZ 102020563 -6073582.74
WETZEL SA MWELON BZ 102020563 -6073582.74
WETZEL SA-PREF MWET4 BZ 102020563 -6073582.74
WETZEL SA-PREF MWELPN BZ 102020563 -6073582.74
MINUPAR MNPR3 BZ 136398462 -91947867.2
MINUPAR SA MNPRON BZ 136398462 -91947867.2
MINUPAR-PREF MNPR4 BZ 136398462 -91947867.2
MINUPAR SA-PREF MNPRPN BZ 136398462 -91947867.2
NORDON MET NORD3 BZ 12386508.7 -33450200.1
NORDON METAL NORDON BZ 12386508.7 -33450200.1
NORDON MET-RTS NORD1 BZ 12386508.7 -33450200.1
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 48003655.5 -18502124.9
RECRUSUL SA RESLON BZ 48003655.5 -18502124.9
RECRUSUL-PREF RCSL4 BZ 48003655.5 -18502124.9
RECRUSUL SA-PREF RESLPN BZ 48003655.5 -18502124.9
PETRO MANGUINHOS RPMG3 BZ 246810937 -224879124
PETRO MANGUINHOS MANGON BZ 246810937 -224879124
PET MANGUINH-PRF RPMG4 BZ 246810937 -224879124
PETRO MANGUIN-PF MANGPN BZ 246810937 -224879124
RIMET REEM3 BZ 103098361 -185417655
RIMET REEMON BZ 103098361 -185417655
RIMET-PREF REEM4 BZ 103098361 -185417655
RIMET-PREF REEMPN BZ 103098361 -185417655
SANSUY SNSY3 BZ 192536335 -145445052
SANSUY SA SNSYON BZ 192536335 -145445052
SANSUY-PREF A SNSY5 BZ 192536335 -145445052
SANSUY SA-PREF A SNSYAN BZ 192536335 -145445052
SANSUY-PREF B SNSY6 BZ 192536335 -145445052
SANSUY SA-PREF B SNSYBN BZ 192536335 -145445052
BOTUCATU TEXTIL STRP3 BZ 27663604.9 -7174512.03
STAROUP SA STARON BZ 27663604.9 -7174512.03
BOTUCATU-PREF STRP4 BZ 27663604.9 -7174512.03
STAROUP SA-PREF STARPN BZ 27663604.9 -7174512.03
TEKA TEKA3 BZ 407967021 -392649052
TEKA TEKAON BZ 407967021 -392649052
TEKA-PREF TEKA4 BZ 407967021 -392649052
TEKA-PREF TEKAPN BZ 407967021 -392649052
TEKA-ADR TKTPY US 407967021 -392649052
TEKA-ADR TKTQY US 407967021 -392649052
F GUIMARAES FGUI3 BZ 11016542.1 -151840377
FERREIRA GUIMARA FGUION BZ 11016542.1 -151840377
F GUIMARAES-PREF FGUI4 BZ 11016542.1 -151840377
FERREIRA GUIM-PR FGUIPN BZ 11016542.1 -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
VULCABRAS AZALEI VULC3 BZ 656823700 -17327661.6
VULCABRAS SA VULCON BZ 656823700 -17327661.6
VULCABRAS AZ-PRF VULC4 BZ 656823700 -17327661.6
VULCABRAS SA-PRF VULCPN BZ 656823700 -17327661.6
VULCABRAS-RT PRF VULC11 BZ 656823700 -17327661.6
LOJAS ARAPUA LOAR3 BZ 60020270.1 -3542047972
LOJAS ARAPUA LOARON BZ 60020270.1 -3542047972
LOJAS ARAPUA-PRF LOAR4 BZ 60020270.1 -3542047972
LOJAS ARAPUA-PRF LOARPN BZ 60020270.1 -3542047972
LOJAS ARAPUA-PRF 52353Z US 60020270.1 -3542047972
LOJAS ARAPUA-GDR 3429T US 60020270.1 -3542047972
LOJAS ARAPUA-GDR LJPSF US 60020270.1 -3542047972
BATTISTELLA BTTL3 BZ 158330518 -36518145.6
BATTISTELLA-PREF BTTL4 BZ 158330518 -36518145.6
SAUIPE SA PSEGON BZ 23615862 -840174.001
SAUIPE PSEG3 BZ 23615862 -840174.001
SAUIPE SA-PREF PSEGPN BZ 23615862 -840174.001
SAUIPE-PREF PSEG4 BZ 23615862 -840174.001
CIA PETROLIFERA MRLM3B BZ 377602195 -3014291.72
CIA PETROLIF-PRF MRLM4B BZ 377602195 -3014291.72
CIA PETROLIFERA 1CPMON BZ 377602195 -3014291.72
CIA PETROLIF-PRF 1CPMPN BZ 377602195 -3014291.72
LATTENO FOOD COR LATF US 14423532 -3506007
VARIG PART EM TR VPTA3 BZ 49432124.2 -399290396
VARIG PART EM-PR VPTA4 BZ 49432124.2 -399290396
VARIG PART EM SE VPSC3 BZ 83017828.6 -495721700
VARIG PART EM-PR VPSC4 BZ 83017828.6 -495721700
COLOMBIA
--------
PUYEHUE RIGHT PUYEHUOS CI 25722049 -4310587.75
PUYEHUE PUYEH CI 25722049 -4310587.75
***********
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, Julie Anne L. Toledo, 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 * * *