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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, August 18, 2015, Vol. 16, No. 162
Headlines
B A H A M A S
BAHA MAR: Taps Glinton Sweeting as Special Bahamian Counsel
BAHA MAR: Pachulski Stang to Serve as Conflicts Counsel
BAHA MAR: Taps Kobre & Kim as Special Litigation Counsel in London
BAHA MAR: Hires Moelis & Company as Financial Advisor & Banker
BAHA MAR: Hires Milbank Tweed as Lead Bankruptcy Counsel
B R A Z I L
BRAZIL: Cautious on Estimate Quadrupling Offshore Oil Reserves
GENERAL MOTORS: Brazil Employees Block Highway to Protest Layoffs
C A Y M A N I S L A N D S
3G LONG BIASED: Creditors' Proofs of Debt Due Aug. 26
3G LOW OFFSHORE: Creditors' Proofs of Debt Due Aug. 26
3G LONG PARTNERS: Creditors' Proofs of Debt Due Aug. 26
EURASIAN DIVERSIFIED: Creditors' Proofs of Debt Due Aug. 24
LOW VOLATILITY: Creditors' Proofs of Debt Due Aug. 26
MYSTIC RE III: Creditors' Proofs of Debt Due Sept. 3
PASQUALE INVESTMENTS: Creditors' Proofs of Debt Due Aug. 28
SUNSET REALIZATION: Creditors' Proofs of Debt Due Sept. 2
SYMPHONY CLO: Creditors' Proofs of Debt Due Sept. 2
TBG GLOBAL: Creditors' Proofs of Debt Due Sept. 3
C H I L E
LATAM AIRLINES: Plunge as Earnings Show Currency Weakness
C O L O M B I A
COLOMBIA: Oil Production Falls 6%
D O M I N I C A N R E P U B L I C
FALCONBRIDGE DOMINICANA: Glencore Sells Shares to American Nickel
* DOMINICAN REPUBLIC: Economic Future is in Tourism, Minister Says
* DOMINICAN REPUBLIC: Market Normal as Strike Enters 10th Day
J A M A I C A
JAMAICA: Bank of Jamaica Issues Instruments to Raise US$
M E X I C O
MEXICO: Bank of Mexico Cuts 2015 Economic Growth Forecast
P E R U
DOE RUN: Deploys Troops to Quell Unrest in Mining Town
P U E R T O R I C O
DORAL FINANCIAL: Court Approves FirstBank Settlement Agreement
T R I N I D A D & T O B A G O
ANSAMCAL GROUP: Holds Steady on Forex
X X X X X X X X X
* Large Companies With Insolvent Balance Sheets
- - - - -
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B A H A M A S
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BAHA MAR: Taps Glinton Sweeting as Special Bahamian Counsel
-----------------------------------------------------------
Baha Mar Enterprises Ltd. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Glinton Sweeting O'Brien as special Bahamian
counsel, nunc pro tunc to June 29, 2015 petition date.
The Debtors require Glinton Sweeting to advise the Debtors in
connection with all aspects of the domestication and enforcement
in The Bahamas of all relevant orders and directions issuing out
of these proceedings and performing the range of services normally
associated with matters such as this as the Debtors' special
Bahamian counsel which Glinton Sweeting is in a position to
provide.
Glinton Sweeting will be paid at these hourly rates:
Partners $800
Associates $500
Law Clerks $60-$110
Glinton Sweeting will also be reimbursed for reasonable out-of-
pocket expenses incurred.
In the one year period preceding the Petition Date, Glinton
Sweeting received payments from the Debtors totaling $200,000 with
respect to services rendered to the Debtors. Since the Petition
Date, Glinton Sweeting submits that it has earned fees and
incurred reimbursable expenses on account of its services to the
Debtors in the aggregate amount of $272,177.19. As of the petition
date, Glinton Sweeting is owed $289,665.75 on account of services
rendered.
Roy W.M. Sweeting, partner of Glinton Sweeting, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.
Pursuant to the Appendix B Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed Under United
States Code by Attorneys in Larger Chapter 11 Cases, Glinton
Sweeting attests that:
-- Glinton Sweeting was asked to represent the Debtors on an
urgent basis and to provide a level and quantity of service
that was anticipated to be, and has been, at or near the
maximum capacity of Glinton Sweeting's output therefore
requested hourly rates in excess of its usual rates of $600
per hour for partners and $300-$400 per hour for associates.
-- Glinton Sweeting represented the client for approximately 26
days before the petition date. Glinton Sweeting sought the
rates and an initial retainer of $100,000. Those terms were
agreed and the retainer was provided on June 19, 2015. On
June 29, 2015, Glinton Sweeting received an additional
$100,000 in retainer funds. Glinton Sweeting's rates have
not changed postpetition.
-- In accordance with the 2013 UST Guidelines, the budget may
be amended as necessary to reflect the changed circumstance
or unanticipated developments.
Glinton Sweeting can be reached at:
Roy W.M. Sweeting, Esq.
GLINTON SWEETING O'BRIEN
303 Shirley Street
New Providence
Nassau, 78073, Bahamas
Tel: (242) 238-3500
Fax: (242) 328-8008
About Baha Mar
Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402). Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.
The case is assigned to Judge Kevin J. Carey.
The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York. The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien. The Debtors' special litigation counsel is
Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.
The Debtors' investment banker and financial advisor is Moelis
Company LLC. The Debtors' claims and noticing agent is Prime
Clerk LLC.
BAHA MAR: Pachulski Stang to Serve as Conflicts Counsel
-------------------------------------------------------
Baha Mar Enterprises Ltd. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Pachulski Stang Ziehl & Jones LLP as co-counsel
and conflicts counsel, nunc pro tunc to the June 29, 2015 petition
date.
The Debtors require Pachulski Stang to:
(a) provide legal advice regarding local rules, practices, and
procedures;
(b) review and comment on drafts of documents to ensure
compliance with local rules, practices, and procedures;
(c) file documents as requested by Milbank, Tweed, Hadley &
McCloy LLP ("Milbank") and coordinating with the Debtors'
claims agent for service of documents;
(d) prepare agenda letters, certificates of no objection,
certifications of counsel, and notices of fee applications
and hearings;
(e) prepare hearing binders of documents and pleadings,
print documents and pleadings for hearings.
(f) appear in Court and at any meeting of creditors on behalf
of the Debtors in its capacity as Delaware counsel with
Milbank;
(g) monitor the docket for filings and coordinating with
Milbank on pending matters that need responses;
(h) prepare and maintain critical dates memorandum to monitor
pending applications, motions, hearing dates and other
matters and the deadlines associated with same; distribute
critical dates memorandum with Milbank for review and any
necessary coordination for pending matters;
(i) handle inquiries and calls from creditors and counsel to
interested parties regarding pending matters and the
general status of these Cases, and, to the extent required,
coordinate with Milbank on any necessary responses; and
(j) provide additional administrative support to Milbank, as
requested.
(k) serve as conflicts counsel for the Debtors with respect to
any matters for which Milbank may have a conflict.
Pachulski Stang will be paid at these hourly rates:
Laura Davis Jones $1,025
James E. O'Neill $750
Colin R. Robinson $650
Peter J. Keane $525
Lynzy McGee $305
Pachulski Stang will also be reimbursed for reasonable out-of-
pocket expenses incurred.
Pachulski Stang received payments from the Debtors during the year
prior to the Petition Date in the amount of $100,000 including the
Debtors' aggregate filing fees for these cases, in connection with
its prepetition representation of the Debtors.
Laura Davis Jones, partner of Pachulski Stang, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.
Pursuant to the Appendix B Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed Under United
States Code by Attorneys in Larger Chapter 11 Cases, Pachulski
Stang attested:
-- Pachulski Stang represented the Debtors for approximately two
weeks during the 12-month period prepetition. The material
financial terms for the prepetition engagement remained the
same as the engagement was hourly-based subject to economic
adjustment. The billing rates and material financial terms
for the post-petition period remain the same as the
prepetition period subject to annual economic adjustment.
-- The Debtors and Pachulski Stang expect to develop a
prospective budget and staffing plan.
Pachulski Stang can be reached at:
Laura Davis Jones, Esq.
PACHULSKI STANG ZIEHL & JONES LLP
919 North Market Street, 17th Floor
Wilmington, DE 19801
Tel: (302) 652-4100
Fax: (302) 652-4400
E-mail: ljones@pszjlaw.com
About Baha Mar
Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402). Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.
The case is assigned to Judge Kevin J. Carey.
The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York. The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien. The Debtors' special litigation counsel is
Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.
The Debtors' investment banker and financial advisor is Moelis
Company LLC. The Debtors' claims and noticing agent is Prime
Clerk LLC.
BAHA MAR: Taps Kobre & Kim as Special Litigation Counsel in London
------------------------------------------------------------------
Baha Mar Enterprises Ltd. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Kobre & Kim LLP as special litigation counsel,
nunc pro tunc to June 29, 2015 petition date.
The Debtors require Kobre & Kim to:
(a) prosecute the Completion Guarantee Claim before the High
Court of England & Wales in London;
(b) investigate the nature, extent, and type of potential
claims and defenses against CCA, CC America, CSCEC, and any
of their affiliates based on the Debtors' legal and
equitable rights and remedies arising under certain
contracts or otherwise in connection with the Baha Mar
Project, including by requesting authority under applicable
bankruptcy law to seek and seeking discovery from third
parties regarding such claims and defenses, as well as
prosecuting and enforcing judgments with respect to
such claims and defenses before this Court or another court
of competent jurisdiction during these Chapter 11 Cases, as
directed by the Debtors in the exercise of their fiduciary
duties on behalf of their estates aid, to the extent
required, as authorized by the Cot;
(c) assist the Debtors and other outside counsel, as directed,
in connection with seeking recognition of the Chapter 1l
Cases and implementing any relief obtained thereby in
jurisdictions outside the United States, including, without
limitation, in The Bahamas; and
(d) perform other legal services in connection with the
foregoing as may be reasonably required and subject to
terms of engagement.
Kobre & Kim will be paid at these hourly rates:
Founding Partners and
English Queens Counsel GBP750
Other U.S. Attorneys $560-$825
Non-Lawyer Professionals $185-$375
Kobre & Kim will also be reimbursed for reasonable out-of-pocket
expenses incurred.
According to Kobre & Kim's books and records for the year prior to
the Petition Date, Kobre & Kim has received payment from the
Debtors of approximately $839,374.99 on account of invoices for
legal services performed and expenses incurred in contemplation
of, or in connection with, the Kobre & Kim Matters.
Michael S. Kim, founding partner of Kobre & Kim, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.
Consistent with the Guidelines for Reviewing Applications for
Compensation and Reimbursement of Expenses filed under 11 U.S.C.
section 330 by Attorneys in Larger Chapter 11 cases effective as
of Nov. 1, 2013 (the "U.S. Trustee Guidelines"), Kobre & Kim
stated:
-- Kobre & Kim did not agree to a variation of its standard or
customary billing arrangements for this engagement;
-- None of Kobre & Kim's professionals included in this
engagement have varied their rate based on the geographic
location of the Chapter 11 Cases;
-- Kobre &Kim represented the Debtors in the year prior to the
Petition Date. The billing rates and material financial
terms in connection with such representation have not
changed post-petition, and will not change other than due to
annual and customary firm-wide adjustments to Kobre & Kim's
hourly rates in the ordinary course of Kobre & Kim's
business; and
-- The Debtors and Kobre & Kim expect to develop a prospective
budget and staffing plan for Kobre & Kim's engagement for
the period from June 29, 2015 to Sep. 29, 20l 5. Consistent
with the U.S. Trustee Guidelines, the budget may be amended
as necessary to reflect changed or unanticipated
developments.
Kobre & Kim can be reached at:
Michael S. Kim, Esq.
KOBRE & KIM LLP
800 Third Avenue
New York, NY 10022
Tel: (212) 488-1201
Fax: (212) 488-1221
E-mail: michael.kim@kobrekim.com
About Baha Mar
Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402). Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.
The case is assigned to Judge Kevin J. Carey.
The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York. The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien. The Debtors' special litigation counsel is
Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.
The Debtors' investment banker and financial advisor is Moelis
Company LLC. The Debtors' claims and noticing agent is Prime
Clerk LLC.
BAHA MAR: Hires Moelis & Company as Financial Advisor & Banker
--------------------------------------------------------------
Baha Mar Enterprises Ltd. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Moelis & Company LLC as financial advisor and
investment banker, nunc pro tunc to June 29, 2015 petition date.
The Debtors and their counsel, Milbank, Tweed, Hadley & McCloy,
LLP require Moelis & Company to:
(a) assist Counsel and the Debtors in reviewing and analyzing
the Debtors' results of operations, financial condition and
business plan;
(b) assist Counsel and the Debtors in preparation of customary
financial reports as may be required in connection with the
proposed Restructuring or Capital Transaction; provided,
however that such financial reports shall in all cases be
deemed prepared by, and the ultimate responsibility of, the
Debtors;
(c) assist Counsel in reviewing and analyzing a potential
Restructuring or Capital Transaction;
(d) assist Counsel in negotiating a Restructuring or a Capital
Transaction;
(e) advise Counsel on the Debtors' preparation of an
information memorandum for a potential Capital Transaction;
(f) assist Counsel in identifying and contacting prospective
purchasers of the Capital Transaction, and providing on
behalf of the Debtors such prospective purchasers with the
Information Memo and such information about the Debtors as
may be appropriate and acceptable to Counsel, subject to
customary business confidentiality;
(g) advise Counsel of the terms of securities the Debtors offer
in any potential Capital Transaction;
(h) advise Counsel with respect to valuation and provide
customary expert testimony in the course of a Bankruptcy
Case regarding the same; and
(i) provide such other financial advisory and investment
banking services in connection with a Restructuring or
Capital Transaction.
The Engagement Letter provides for the following compensation to
Moelis & Company by the Debtors:
-- Monthly Fee. A monthly fee of $150,000 per month, payable in
advance each month. Whether or not a Restructuring or
Capital Transaction occurs, Moelis shall credit against
Monthly Fees commencing with the seventh Monthly Fee and
thereafter to the extent such Monthly Fees are actually paid
to Moelis (the "Monthly Fee Credit") against any
Restructuring Fee or Capital Transaction Fees; provided,
that in no event shall any such credit exceed the
Restructuring Fee and/or the Capital Transaction Fee.
-- Restructuring Fee. Subject to the Monthly Fee Credit, a
restructuring fee of $5,500,000 at the closing of a
Restructuring.
-- Capital Transactions Fee. Subject to the Monthly Fee Credit,
at the closing of a Capital Transaction, a non-refundable
cash fee of:
- 4.0% of the aggregate gross amount of face value of new
capital Raised in the Capital Transaction as equity,
equity-linked interests, options, warrants or other rights
to acquire equity interests; plus
- 1.5% of the aggregate gross amount of debt obligations and
other interests Raised in the Capital Transaction.
-- Capital Transactions Fees in a Bankruptcy Case.
Notwithstanding the foregoing, to the extent that the
Capital Transaction constitute debtor-in-possession
financing or exit financing provided in connection with a
Bankruptcy Case, the Capital Transaction Fee - with respect
to that Capital Transaction only - shall be:
- 4.0 % of the aggregate gross amount or face value of new \
capital Raised in the Capital Transaction as equity,
equity-linked interests, options, warrants or other rights
to acquire equity interest; plus
- 1.0% of the aggregate gross amount of senior debt
obligations;
- plus 2.0% of the aggregate gross amount of junior debt
obligations and other interests Raised in the Capital
Transaction.
Further, to the extent the debtor-in-possession financing or exit
financing is committed by the Developer or affiliated entities
under his control, the Capital Transaction Fee with respect to
such amounts shall be reduced by 50% if such Capital Transaction
constitutes exit financing in a Bankruptcy Case, or by 100% if
such Capital Transaction constitutes debtor-in-possession
financing in a Bankruptcy Case.
The maximum aggregate Restructuring Fees and Capital Transaction
Fees payable to Moelis & Company shall not exceed $14,000,000.
Lawrence Y. Kwon, managing director and founding member at Moelis
& Company, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code and does not represent any interest adverse to the
Debtors and their estates.
Moelis & Company can be reached at:
MOELIS & COMPANY
399 Park Avenue, 5th Floor
New York, NY 10011
Tel: (212) 883-6330
Fax: (212) 880-4260
About Baha Mar
Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402). Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.
The case is assigned to Judge Kevin J. Carey.
The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York. The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien. The Debtors' special litigation counsel is
Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.
The Debtors' investment banker and financial advisor is Moelis
Company LLC. The Debtors' claims and noticing agent is Prime
Clerk LLC.
BAHA MAR: Hires Milbank Tweed as Lead Bankruptcy Counsel
--------------------------------------------------------
Baha Mar Enterprises Ltd. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Milbank, Tweed, Hadley & McCloy LLP as
attorneys, nunc pro tunc to the June 29, 2015 petition date.
The Debtors require Milbank Tweed to:
(a) advise the Debtors with respect to their rights, powers and
duties as debtors in possession in the continued operation
of their businesses and the management of their properties;
(b) advise and consult on the conduct of the Chapter 11 Cases,
Including all of the legal and administrative requirements
of operating in chapter 11;
(c) attend meetings and negotiate with representatives of
creditors and other parties in interest, including
governmental authorities;
(d) take all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the
Debtors' behalf, defending any action commenced against
Baha Mar, and representing the Debtors in negotiations
Concerning litigation in which Baha Mar is involved,
including objections to claims filed against the Debtors'
estates;
(e) prepare pleadings in connection with the Chapter 11 Cases,
including motions, applications, answers, orders, reports,
and papers necessary or otherwise beneficial to the
administration of the Debtors' estates;
(f) represent the Debtors in obtaining authority to continue
using cash collateral and post-petition financing;
(g) advise the Debtors in connection with any potential sale of
assets;
(h) advise the Debtors concerning potential executory contract
and unexpired lease assumptions, assignments and
rejections;
(i) appear before the Court and any appellate courts to
represent the interests of the Debtors' estates;
(j) advise the Debtors regarding tax matters;
(k) coordinate and oversee the Debtors' efforts to obtain
recognition of the Chapter 11 Cases in the Bahamas, and in
any other proceedings at the Supreme Court of the
Commonwealth of The Bahamas;
(1) take any necessary action on behalf of the Debtors to
obtain approval of a disclosure statement and confirmation
of a chapter 11 plan and all documents related thereto; and
(m) perform all other necessary legal services for the Debtors
in connection with the prosecution of the Chapter 11 Cases,
including: (i) analyzing the Debtors' leases and contracts
and the assumption and assignment or rejection thereof;
(ii) analyzing the validity of liens against the Debtors;
and (iii) advising the Debtors on corporate and litigation
matters.
Milbank Tweed will be paid at these hourly rates:
Partners $985-$1,285
Counsel $940-$1,140
Associates $390-$875
Paraprofessionals $190-$335
Milbank Tweed will also be reimbursed for reasonable out-of-pocket
expenses incurred.
As of June 26, 2015, the Debtors provided Milbank Tweed with an
aggregate advance payment of $2,600,000 to establish a retainer to
pay for legal services rendered or to be rendered in connection
with the Debtors' restructuring efforts. As of the date hereof,
Milbank Tweed holds a retainer in the amount of $91,110.84 (the
"Retainer") that it will hold according to its standard internal
procedures in the same manner as Milbank holds retainers received
from each of its other clients.
Mark Shinderman, partner of Financial Restructuring Group of
Milbank Tweed, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code and does not represent any interest adverse to the
Debtors and their estates.
Pursuant to the Appendix B Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed Under United
States Code by Attorneys in Larger Chapter 11 Cases, the firm
attests that:
-- Milbank Tweed did not agree to a variation of its standard
or customary billing arrangements for this engagement;
-- None of Milbank Tweed's professionals included in this
engagement have varied their rate based on the geographic
location of the Chapter 11 Cases;
-- Milbank Tweed represented the Debtors in the one month prior
to the Petition Date. The billing rates and material
financial terms in connection with such representation have
not changed post-petition, and will not change other than
due to annual and customary firm-wide adjustments to
Milbank's hourly rates in the ordinary course of Milbank's
business; and
-- The Debtors have approved a prospective budget and staffing
plan for Milbank's engagement for the period from June 29,
2015 to Sep. 29, 2015. Consistent with the U.S. Trustee
Guidelines, the budget may be amended as necessary to
reflect changed or unanticipated developments.
Milbank Tweed can be reached at:
Mark Shinderman, Esq.
MILBANK, TWEED, HADLEY & McCLOY LLP
601 S. Figueroa Street, 30th Floor
Los Angeles, CA 90017
Tel: (213) 892-4000
Fax: (213) 629-5063
E-mail: mshinderman@milbank.com
About Baha Mar
Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402). Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.
The case is assigned to Judge Kevin J. Carey.
The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York. The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware. The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien. The Debtors' special litigation counsel is
Kobre & Kim LLP. The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.
The Debtors' investment banker and financial advisor is Moelis
Company LLC. The Debtors' claims and noticing agent is Prime
Clerk LLC.
===========
B R A Z I L
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BRAZIL: Cautious on Estimate Quadrupling Offshore Oil Reserves
--------------------------------------------------------------
EFE News reports that the Brazilian government is carefully
reviewing a new study that estimates the amount of oil in the
offshore pre-salt region at 176 billion barrels, four times what
has been discovered so far, Mines and Energy Minister Eduardo
Braga said.
"We know the report," Mr. Braga told a press conference in Rio de
Janeiro, according to EFE News. "We think it has very important
information and we are analyzing it with caution," Mr. Braga
added.
The pre-salt region, so-named because its reserves are located
under water, rocks and a shifting layer of salt at depths of up to
7,000 meters (22,950 feet) below the surface of the Atlantic, lies
off the southeastern coast of Brazil, the report notes.
In a study released last week, researchers from the Federal
University of Rio de Janeiro, or UFRJ, conclude that commercially
exploitable reserves in the pre-salt region are four times larger
than the accepted figure of 30 billion to 40 billion barrels, the
report relays.
State-controlled oil company Petrobras recently started the
exploitation of the pre-salt reserves, which have the potential to
turn Brazil into a major crude exporter, the report says.
"The calculation we made is conservative and has a 90 percent
probability of being correct," UFRJ geologists Clevelan Jones and
Hernane Chaves wrote in their paper, the report discloses.
"These are data we need to corroborate and that is why we take
them with care, even though we acknowledge that UFRJ has
sufficient knowledge, experience, technology and prestige for us
to be able to trust their information," Mr. Braga said, the report
notes.
UFRJ said that its study uses a methodology developed in Norway
and employed by several companies, including Norwegian-based
multinational Statoil, adds the report.
GENERAL MOTORS: Brazil Employees Block Highway to Protest Layoffs
-----------------------------------------------------------------
Latin American Herald Tribune reports that hundreds of workers at
General Motors' largest manufacturing facility in Brazil took part
Aug. 14 in a blockade of the highway linking Sao Paulo and Rio de
Janeiro to protest against management's dismissal of 600
employees.
Some 2,000 workers joined the demonstration, according to a
statement by the union representing employees at the facility in
Sao Jose dos Campos, some 80 kilometers (50 miles) from Sao Paulo,
according to Latin American Herald Tribune.
The report notes that the Campos employees have been on strike
since Aug. 10 in reaction to the dismissal of roughly 600
coworkers in the past 10 days.
"It is our duty to unify the struggle with workers at other
plants, against layoffs and the loss of our rights; we will say
'no' to salary cuts and 'yes' to job security," union leader
Antonio Ferreira de Barros said in a statement obtained by the
news agency.
Besides the re-hiring of the laid-off workers, the union wants the
U.S. automaker's Brazilian subsidiary to respond to a slump in
sales by reducing working hours rather than cutting staff, the
report notes.
More broadly, the union calls on the government to ban foreign-
owned automakers from repatriating profits and to nationalize
plants of vehicle manufacturers that lay off workers, the report
discloses.
The report notes that the layoffs at General Motors come as
Brazil's auto industry is facing a steep decline in both domestic
and foreign sales.
Brazil's National Federation of Car Dealers reported that vehicle
sales have fallen 17.87 percent this year, the report relays.
Meanwhile, the automakers association estimates that its members
laid off 1,172 workers in June, bringing the number of employees
in the industry down to 135,700, the lowest since 2012, the report
adds.
==========================
C A Y M A N I S L A N D S
==========================
3G LONG BIASED: Creditors' Proofs of Debt Due Aug. 26
-----------------------------------------------------
The creditors of 3G Long Biased Equity Offshore Fund Ltd. are
required to file their proofs of debt by Aug. 26, 2015, to be
included in the company's dividend distribution.
The company commenced wind-up proceedings on July 22, 2015.
The company's liquidators are:
E. Andrew Hersant
Christopher Humphries
Stuarts Walker Hersant Humphries
36A Dr. Roy's Drive, George Town
P.O. Box 2510 Grand Cayman KY1-1104
Cayman Islands
Telephone: (345) 949 3344
Facsimile: (345) 949 2888
3G LOW OFFSHORE: Creditors' Proofs of Debt Due Aug. 26
------------------------------------------------------
The creditors of 3G Low Volatility Offshore Fund Ltd. are required
to file their proofs of debt by Aug. 26, 2015, to be included in
the company's dividend distribution.
The company commenced liquidation proceedings on July 22, 2015.
The company's liquidators are:
E. Andrew Hersant
Christopher Humphries
Stuarts Walker Hersant Humphries
36A Dr. Roy's Drive, George Town
P.O. Box 2510 Grand Cayman KY1-1104
Cayman Islands
Telephone: (345) 949 3344
Facsimile: (345) 949 2888
3G LONG PARTNERS: Creditors' Proofs of Debt Due Aug. 26
-------------------------------------------------------
The creditors of 3G Long Biased Equity Fund Partners Ltd. are
required to file their proofs of debt by Aug. 26, 2015, to be
included in the company's dividend distribution.
The company commenced wind-up proceedings on July 22, 2015.
The company's liquidators are:
E. Andrew Hersant
Christopher Humphries
Stuarts Walker Hersant Humphries
36A Dr. Roy's Drive, George Town
P.O. Box 2510 Grand Cayman KY1-1104
Cayman Islands
Telephone: (345) 949 3344
Facsimile: (345) 949 2888
EURASIAN DIVERSIFIED: Creditors' Proofs of Debt Due Aug. 24
-----------------------------------------------------------
The creditors of Eurasian Diversified Investment Fund Limited are
required to file their proofs of debt by Aug. 24, 2015, to be
included in the company's dividend distribution.
The company commenced wind-up proceedings on July 16, 2015.
The company's liquidator is:
CP Fund Management (Cayman) Limited
Willow House, Floor 4
Cricket Square, Elgin Avenue
George Town, Grand Cayman
Cayman Islands
Telephone: +1 (345) 949 2648
Facsimile: +1 (345) 949 8613
LOW VOLATILITY: Creditors' Proofs of Debt Due Aug. 26
--------------------------------------------------------
The creditors of 3G Low Volatility Onshore Fund Ltd. are required
to file their proofs of debt by Aug. 26, 2015, to be included in
the company's dividend distribution.
The company commenced liquidation proceedings on July 22, 2015.
The company's liquidators are:
E. Andrew Hersant
Christopher Humphries
Stuarts Walker Hersant Humphries
36A Dr. Roy's Drive, George Town
P.O. Box 2510 Grand Cayman KY1-1104
Cayman Islands
Telephone: (345) 949 3344
Facsimile: (345) 949 2888
MYSTIC RE III: Creditors' Proofs of Debt Due Sept. 3
----------------------------------------------------
The creditors of Mystic RE III Ltd are required to file their
proofs of debt by Sept. 3, 2015, to be included in the company's
dividend distribution.
The company commenced liquidation proceedings on July 17, 2015.
The company's liquidator is:
Russell Smith
c/o Antoine Powell
Telephone: (345) 815 4558
BDO CRI (Cayman) Ltd.
Governors Square, Floor 2 - Building 3
23 Lime Tree Bay Avenue
P.O. Box 31229 Grand Cayman, KY1 1205
Cayman Islands
PASQUALE INVESTMENTS: Creditors' Proofs of Debt Due Aug. 28
-----------------------------------------------------------
The creditors of Pasquale Investments Limited are required to file
their proofs of debt by Aug. 28, 2015, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on July 13, 2015.
The company's liquidator is:
Matthew Wright
c/o Omar Grant
Telephone: (345) 949 7576
Facsimile: (345) 949 8295
P.O. Box 897 Windward 1
Regatta Office Park
Grand Cayman KY1-1103
Cayman Islands
SUNSET REALIZATION: Creditors' Proofs of Debt Due Sept. 2
---------------------------------------------------------
The creditors of Sunset Realization Partners, Ltd. are required to
file their proofs of debt by Sept. 2, 2015, to be included in the
company's dividend distribution.
The company commenced liquidation proceedings on July 11, 2015.
The company's liquidator is:
Stuart Sybersma
c/o Robbie Cribb
Deloitte & Touche
Citrus Grove Building, 4th Floor
Goring Avenue George Town KY1-1109
Cayman Islands
Telephone: +1 (345) 814 2254
Facsimile: +1 (345) 949 8258
SYMPHONY CLO: Creditors' Proofs of Debt Due Sept. 2
---------------------------------------------------
The creditors of Symphony CLO Opportunities Master Fund LP. are
required to file their proofs of debt by Sept. 2, 2015, to be
included in the company's dividend distribution.
The company commenced liquidation proceedings on July 15, 2015.
The company's liquidator is:
DMS Corporate Services Ltd
c/o Nicola Cowan
Telephone: (345) 946 7665
Facsimile: (345) 949 2877
dms House, 2nd Floor
P.O. Box 1344, Grand Cayman KY1-1108
Cayman Islands
TBG GLOBAL: Creditors' Proofs of Debt Due Sept. 3
-------------------------------------------------
The creditors of TBG Global SPC are required to file their proofs
of debt by Sept. 3, 2015, to be included in the company's dividend
distribution.
The company commenced liquidation proceedings on July 15, 2015.
The company's liquidator is:
Peter Goulden
Mourant Ozannes Cayman Liquidators Limited
c/o Mourant Ozannes
Attorneys-at-Law for the Company
Reference: NDL
Telephone: (+1) 345 949 4123
Facsimile: (+1) 345 949 4647; or
Mourant Ozannes Cayman Liquidators Limited
Reference: Peter Goulden
Telephone: (+1) 345 949 4123
Facsimile: (+1) 345 949 4647
94 Solaris Avenue Camana Bay
P.O. Box 1348 Grand Cayman KY1-1108
Cayman Islands
=========
C H I L E
=========
LATAM AIRLINES: Plunge as Earnings Show Currency Weakness
---------------------------------------------------------
Eduardo Thomson and Christine Jenkins at Bloomberg News report
that LATAM Airlines Group S.A. (LATAM Airlines) tumbled last week
after carriers reported disappointing earnings that were hurt by
lower demand and weaker currencies.
Latam Airlines SA, which reported a wider-than-expected loss was
down 10 percent last week to a nine-year-low, according to
Bloomberg News.
The report says Colombia's Avianca Holdings SA has plunged 15
percent to a record low, Panama City-based Copa Holdings SA lost
19 percent, and Brazil's Gol Linhas Aereas Inteligentes SA was
also down last week after losing as much as 3.9 percent Aug. 14.
An index of Latin American airline stocks reached a six-year low
Aug. 14, a day after a gauge of the region's currencies fell to a
record, Bloomberg News relays. Weaker currencies are making
travel more expensive for Latin Americans amid a regional economic
slowdown and offsetting the benefits the airlines would have
normally seen from the bear market in oil, Bloomberg News notes.
"Massive depreciation of currencies and economic slowdown in the
region is affecting demand," Bloomberg News quoted Daniel
Guardiola, an analyst at Larrain Vial, as saying. "Most airlines
increased their guidance at the end of 2014 with the fall in the
price of oil. They didn't foresee other risks that could affect
the region."
Citing "challenging macroeconomic conditions," Latam cut its
operating-margin guidance this year and said it may postpone
delivery of some planes, Bloomberg News notes. Copa also slashed
guidance on Aug. 12 after its quarterly results reflected weak
demand, Bloomberg News relates. Gol Chief Executive Officer Paulo
Kakinoff said in a call it was the most adverse scenario he's ever
seen in Brazil, Bloomberg News adds.
LATAM Airlines Group S.A. (LATAM Airlines) is a Chilean-based
airline holding company formed by the business combination of LAN
Airlines S.A. of Chile and TAM S.A. of Brazil in June 2012, which
remain operating as two separate brands.
* * *
As reported in the Troubled Company Reporter-Latin America on
June 10, 2015, Moody's Investors Service assigned a Ba3 foreign
currency rating to the proposed up to USD500 million senior
unsecured notes to be issued by LATAM Airlines Group S.A (LATAM
Airlines, Ba2 stable). Proceeds will be used for liability
management and for other general corporate purposes. The rating
outlook is stable.
===============
C O L O M B I A
===============
COLOMBIA: Oil Production Falls 6%
---------------------------------
EFE News reports that Colombia produced an average of 945,000
barrels per day (bpd) in July, down 6 percent from June, when
output averaged slightly more than 1 million bpd, the Energy and
Mines Ministry said.
"The attacks on petroleum infrastructure affected production in
recent months to a great extent," Energy and Mines Minister Tomas
Gonzalez said in a statement obtained by EFE News.
The report notes that President Juan Manuel Santos said a few days
ago that Colombia's goal was to keep production above 1 million
bpd, but he added that the target would be "difficult" to hit.
Production has averaged 1.01 million bpd so far this year, Mr.
Gonzalez said, the report relates.
"This figure reflects the sector's solid position and the
government-industry synergies in dealing with the low prices the
industry is experiencing," the energy and mines minister said, the
report notes.
Natural gas production fell to 966 million cubic feet per day in
July, down 6.69 percent from the 1.035 billion cubic feet per day
registered in June due to changes in demand, the report adds.
===================================
D O M I N I C A N R E P U B L I C
===================================
FALCONBRIDGE DOMINICANA: Glencore Sells Shares to American Nickel
-----------------------------------------------------------------
Dominican Today reports that Nickel miner Falconbridge Dominicana
(Falcondo) disclosed that American Nickel Limited (ANL) acquired
100% of its shares from Glencore Canada Corporation, becoming the
Dominican company's majority stakeholder.
"With the transaction, the property and rights of the other
shareholders of Falconbridge are preserved unchanged, including
the Dominican Government, who will continue to receive over 50% of
the profits," the company said in a statement obtained by the news
agency.
Falcondo said the acquisition of the shares is a sign of the
confidence that foreign investors continue to have in the business
potential of the mining and metallurgical sector; and the
country's business environment, which will also result in greater
development for the provinces where the company operates, the
report notes.
"ANL is focused on reviving Falcondo's production in the coming
months, creating more jobs, and thus contribute to national
economic growth, meeting the highest environmental and safety
standards applicable to heavy industry, and according to best
international practices, " the mining company said, the report
discloses.
"American Nickel Limited's vision for Falcondo is to achieve long
term financial sustainability through the consistent production of
ferronickel and implementation of modern mining and metallurgical
techniques to ensure social investment approach that has always
prevailed in Falcondo, therefore it remains committed to continue
the social responsibility and sustainable development programs for
the benefit of the communities where it operates, " the miner
said, the report relays.
The mining company said in the future, an experienced
international technical team led by metallurgical engineer Ioannis
Moutafis, who will serve as chairman and CEO, will contribute to
the existing expertise in the management team of Falcondo to
achieve new milestones in the history of the company, the report
notes. "Mr. Moutafis, of Greek origin, has over 15 years of
international experience in ferronickel operations."
Falcondo adds that ANL and Glencore Canada Corporation
acknowledges the participation and commitment of all employees,
associates and the extended Falcondo family to endeavor daily to
carry out projects and business challenges, while inviting them to
accompany the company "in this new stage in the history of the
company, to contribute to the development of the mining sector,
with the support of the Dominican society," the report adds.
* DOMINICAN REPUBLIC: Economic Future is in Tourism, Minister Says
------------------------------------------------------------------
Dominican Today reports that the tourism industry has seen steady
growth over the three years of President Danilo Medina's
administration, providing the economy with more than RD$16
billion, which exceeds the nation's current budget this year,
Tourism Minister Francisco Javier Garcia said.
According to the official, tourism is at its best, thanks to the
support the sector has received from President Danilo Medina, the
report notes. "No one is more aware than him of what this sector
represents to the country's development," Mr. Garcia pointed out,
the report relays.
Mr. Garcia recalled that the Tourism Ministry has strengthened its
international promotion in order to guarantee the arrival of more
foreign visitors who choose the Dominican Republic as their
favorite destination, the report notes.
"The country's economic future is in tourism, a sector that is now
at its best," stressed Francisco Javier Garcia, the report adds.
* DOMINICAN REPUBLIC: Market Normal as Strike Enters 10th Day
-------------------------------------------------------------
Dominican Today reports that the Binational market was normal Aug.
14 despite the continued strike of transport to Haiti by Dominican
truckers, now entering its 10th day.
Dominica Republic's biggest truckers union (Fenatrado) started the
strike on august 4 demanding security for drivers who haul cargo
into Haiti, but Dominican or Haitian authorities have yet to
respond, according to Dominican Today.
The report notes that Fenatrado spokesman Giovanny Escotto said
union truckers won't venture into Haitian territory until they are
guaranteed safety for drivers, their vehicles and the freight.
Reports from Dajabon said the market was normal as hundreds of
people crossed from both sides of the border, where Dominican are
on high alert to prevent smuggling, the report relates.
=============
J A M A I C A
=============
JAMAICA: Bank of Jamaica Issues Instruments to Raise US$
--------------------------------------------------------
RJR News reports that the Bank of Jamaica was to offer three
instruments to the market last Aug. 13. All three are intended to
raise an unlimited amount of U.S. dollars, according to RJR News.
The Central Bank has announced that it will be borrowing the money
with maturities set for 2018, 2020 and 2022, RJR News notes.
Investors interested in lending the money had until Aug. 14 to
submit bids through primary dealers and commercial banks, the
report says.
The Bank of Jamaica reserved the right, however, to close the
offer before then, adds the report.
* * *
As reported in Troubled Company Reporter-Latin America on July 29,
2015, Standard & Poor's Ratings Services assigned its 'B' issue
rating on Jamaica's up to US$2 billion in bonds issued in two
tranches. The first tranche is for up to US$1,350 million due in
2028. The second tranche is for up to US$650 million due in 2045.
The government will use the proceeds to purchase debt that Jamaica
owes to Venezuela as well as to finance the government's 2015/2016
budget.
===========
M E X I C O
===========
MEXICO: Bank of Mexico Cuts 2015 Economic Growth Forecast
---------------------------------------------------------
EFE News reports that the Bank of Mexico has revised its 2015
gross domestic product (GDP) forecast downward to a range of 1.7
percent to 2.50 percent.
In the January-March quarter, the central bank said it expected
Mexico's economy to grow between 2 percent and 3 percent this
year, according to EFE News.
The report notes that the Bank of Mexico said in its latest
forecast that it was projecting GDP growth of between 2.5 percent
and 3.5 percent in 2016, a range that was unchanged from the first
quarter of this year.
The Mexican government, for its part, still expects the economy to
grow between 2.2 percent and 3.2 percent this year, but officials
could revise the forecast downward when the second-quarter GDP
figures are released, the report relates.
Mexico's economy grew 2.1 percent in 2014, well below the
government's initial forecast of 3.9 percent, the report adds.
=======
P E R U
=======
DOE RUN: Deploys Troops to Quell Unrest in Mining Town
------------------------------------------------------
Latin American Herald Tribune reports that Peru's government
authorized the intervention of the military to support police in
the mining town of La Oroya, some 185 kilometers (110 miles)
northeast of Lima, where one person has been killed in clashes
between protesters and authorities.
The Interior Ministry gave approval to a one-month deployment of
military forces in the province of Yauli, whose capital is La
Oroya, to "secure control and the maintenance of internal order,"
according to Latin American Herald Tribune.
The report notes that the ministry said the role of the armed
forces will be to support police, who retain responsibility for
law enforcement in the province.
Residents of La Oroya continued blocking the Central Highway, a
key national route, while a delegation of town representatives
arrived in Lima to meet with officials of the national government,
the report relates.
One person was killed and 63 others injured Aug. 11 when
protesters clashed with police who tried to clear the road.
La Oroya residents began a general strike after the failed auction
of a metallurgical complex formerly operated by Doe Run Peru, a
unit of the U.S.-based Renco Group, the report relays.
The report notes that Doe Run smelting and refining complex in La
Oroya was shuttered in 2009 due to the company's financial woes
and its failure to comply with environmental clean-up
requirements.
In April 2012, Doe Run Peru was declared by its creditors in a
process of "operational liquidation," which meant that while they
would not approve the company's restructuring plan, they would
allow the company to continue production pending a final
resolution, the report relays.
The community had hoped that the auction of Doe Run's assets,
including the complex in La Oroya and the Cobriza mine in the
neighboring region of Huancavelica, would lead to a revival of the
mining and processing operation, the report says.
Protesters in La Oroya want the Peruvian government to issue an
emergency executive order extending labor protection to the miners
and metalworkers left unemployed by the shutdown of Doe Run's
operation, the report adds.
======================
P U E R T O R I C O
======================
DORAL FINANCIAL: Court Approves FirstBank Settlement Agreement
--------------------------------------------------------------
Doral Financial Corporation sought and obtained from Judge Shelley
C. Chapman of the U.S. Bankruptcy Court for the Southern District
of New York, approval of its settlement agreement with FirstBank
Puerto Rico.
The settlement agreement deals with the release of $394,955 held
in an escrow account by Chicago Title & Trust Company, and
contains, among others, the following relevant terms:
(1) The Parties will submit to the Escrow Agent a
fully-executed Escrow Release Letter, which instructs the Escrow
Agent to (I) immediately release to the Debtor from the Escrow
Account the full amount of the Debtor Release Amount, which is
$58,094; and (ii) immediately release to FirstBank from the Escrow
Account the full amount of the FirstBank Release Amount, which is
$336,861, simultaneously with the release of the Debtor Release
Amount. The Settlement Approval Order shall authorize and direct
the Escrow Agent to comply therewith.
(2) FirstBank and the Debtor, and its estate, knowingly,
voluntarily and irrevocably release, discharge and acquit each
other from any and all manner of actions related to the Escrow
Agreement, Purchase Agreement, and/or Mortgage Loans, upon their
receipt from the Escrow Agent of the full amounts of their
respective release amounts.
Judge Chapman held that based upon the representations set forth
in the Agreement, (i) there are good, sufficient, and sound
business reasons for the Debtor to enter into the Agreement; (ii)
the Agreement represents a fair and reasonable resolution of the
Parties' respective interests in the Escrow Balance; and (iii) the
Agreement was entered into by the Debtor and FirstBank, and
formally acknowledged by the Official Committee of Unsecured
Creditors, in good faith and from arm's-length bargaining
positions.
Doral Financial's attorneys can be reached at:
Mark I. Bane, Esq.
Meredith S. Tinkham, Esq.
ROPES & GRAY LLP
1211 Avenue of the Americas
New York, NY 10036-8704
Telephone: (212)596-9000
Facsimile: (212)596-9090
E-mail: Mark.Bane@ropesgray.com
Meredith.Parkinson@ropesgray.com
About Doral Financial
Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank. DFC maintains offices
in New York City, Coral Gables, Florida and San Juan, Puerto Rico.
DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.
On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver. Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.
DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015. The case is assigned to
Judge Shelley C. Chapman.
DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.
The Debtor tapped Ropes & Gray LLP as counsel.
The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.
================================
T R I N I D A D & T O B A G O
================================
ANSAMCAL GROUP: Holds Steady on Forex
-------------------------------------
Trinidad and Tobago Newsday reports that Chairman and Chief
Executive Officer of the AnsaMcAL Group of Companies, A Norman
Sabga, said the continuing shortage of foreign exchange had not
yet affected the Group but if US dollars continued to be scarce it
will begin to have an impact on the conglomerate.
Mr. Sabga said it will hurt AnsaMcAL's reputation overseas if it
cannot pay its bills, according to Trinidad and Tobago Newsday.
Mr. Sabga said he was looking at the situation very closely.
The report discloses that Mr. Sabga said AnsaMcAL had not been
affected by the tight foreign exchange situation because it had so
far been able to honor all its payments.
"As it now stands we have not had a problem in meeting our
commitments. We've noticed recently that supply has dried up a
bit somewhat and we are working with our bankers to meet our
foreign payments. We've not defaulted on any foreign payments
yet." Mr. Sabga explained that the group had taken some loans in
foreign exchange to meet its payments but said if the foreign
exchange shortage continues the group will be affected, the report
relays.
Mr. Sabga hoped that foreign exchange would be released into the
system to allow companies to meet their commitments overseas.
Mr. Sabga said revenues for the half year up to the end of June
2015 were down slightly, operating profit was up by ten percent
and financial cost was up five percent, the report relays. Mr.
Sabga said profit before tax attributable to shareholders was up
11 percent and profit after tax had also increased by 11 percent,
the report discloses. Mr. Sabga added that the group's results
year to date were ten percent better than last year, notes the
report.
Giving a review by sector, Mr. Sabga said in the manufacturing,
packaging and brewing sector, sales fell by one percent but
profits rose by four percent; in the automotive, trading and
distribution sector sales were flat and profit down eight percent,
the report notes.
In financial services, Mr. Sabga said, revenues were flat but
profits increased 41 percent while in media and major services of
the parent company, sales declined by six percent while profit was
up by 22 percent, the report notes. While Mr. Sabga said revenues
in the media sector had been flat, he said later that with the
advertising revenues from the upcoming General Election he
expected things to improve in that sector, adds the report.
=================
X 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)
------- ------ --------- ------------
AGRENCO LTD AGRE LX 285996574 -543142756
AGRENCO LTD-BDR AGEN33 BZ 285996574 -543142756
AGRENCO LTD-BDR AGEN11 BZ 285996574 -543142756
ARTHUR LAN-DVD C ARLA11 BZ 11642254.9 -17154460.3
ARTHUR LAN-DVD P ARLA12 BZ 11642254.9 -17154460.3
ARTHUR LANGE ARLA3 BZ 11642254.9 -17154460.3
ARTHUR LANGE SA ALICON BZ 11642254.9 -17154460.3
ARTHUR LANGE-PRF ARLA4 BZ 11642254.9 -17154460.3
ARTHUR LANGE-PRF LICPN BZ 11642254.9 -17154460.3
ARTHUR LANG-RC C ARLA9 BZ 11642254.9 -17154460.3
ARTHUR LANG-RC P ARLA10 BZ 11642254.9 -17154460.3
ARTHUR LANG-RT C ARLA1 BZ 11642254.9 -17154460.3
ARTHUR LANG-RT P ARLA2 BZ 11642254.9 -17154460.3
BALADARE BLDR3 BZ 159449535 -52990723.7
BATTISTELLA BTTL3 BZ 61230059 -26822453.5
BATTISTELLA-PREF BTTL4 BZ 61230059 -26822453.5
BATTISTELLA-RECE BTTL9 BZ 61230059 -26822453.5
BATTISTELLA-RECP BTTL10 BZ 61230059 -26822453.5
BATTISTELLA-RI P BTTL2 BZ 61230059 -26822453.5
BATTISTELLA-RIGH BTTL1 BZ 61230059 -26822453.5
BI CIA SECURITIZ BICS BZ 38231826.5 -584101.548
BOMBRIL BMBBF US 254413220 -16036964.4
BOMBRIL FPXE4 BZ 19416013.9 -489914853
BOMBRIL BOBR3 BZ 254413220 -16036964.4
BOMBRIL - RTS BOBR11 BZ 254413220 -16036964.4
BOMBRIL CIRIO SA BOBRON BZ 254413220 -16036964.4
BOMBRIL CIRIO-PF BOBRPN BZ 254413220 -16036964.4
BOMBRIL HOLDING FPXE3 BZ 19416013.9 -489914853
BOMBRIL SA-ADR BMBPY US 254413220 -16036964.4
BOMBRIL SA-ADR BMBBY US 254413220 -16036964.4
BOMBRIL-PREF BOBR4 BZ 254413220 -16036964.4
BOMBRIL-RGTS PRE BOBR2 BZ 254413220 -16036964.4
BOMBRIL-RIGHTS BOBR1 BZ 254413220 -16036964.4
BOTUCATU TEXTIL STRP3 BZ 27663605.3 -7174512.12
BOTUCATU-PREF STRP4 BZ 27663605.3 -7174512.12
BUETTNER BUET3 BZ 82872146.2 -36299304.3
BUETTNER SA BUETON BZ 82872146.2 -36299304.3
BUETTNER SA-PRF BUETPN BZ 82872146.2 -36299304.3
BUETTNER SA-RT P BUET2 BZ 82872146.2 -36299304.3
BUETTNER SA-RTS BUET1 BZ 82872146.2 -36299304.3
BUETTNER-PREF BUET4 BZ 82872146.2 -36299304.3
CAF BRASILIA CAFE3 BZ 160933830 -149277092
CAF BRASILIA-PRF CAFE4 BZ 160933830 -149277092
CAFE BRASILIA SA CSBRON BZ 160933830 -149277092
CAFE BRASILIA-PR CSBRPN BZ 160933830 -149277092
CELGPAR GPAR3 BZ 197508346 -905048844
CELGPAR-RTS GPAR11 BZ 197508346 -905048844
CIA PETROLIFERA MRLM3 BZ 377592596 -3014215.1
CIA PETROLIFERA MRLM3B BZ 377592596 -3014215.1
CIA PETROLIFERA 1CPMON BZ 377592596 -3014215.1
CIA PETROLIF-PRF MRLM4 BZ 377592596 -3014215.1
CIA PETROLIF-PRF MRLM4B BZ 377592596 -3014215.1
CIA PETROLIF-PRF 1CPMPN BZ 377592596 -3014215.1
CIMOB PARTIC SA GAFP3 BZ 44047412.2 -45669964.1
CIMOB PARTIC SA GAFON BZ 44047412.2 -45669964.1
CIMOB PART-PREF GAFP4 BZ 44047412.2 -45669964.1
CIMOB PART-PREF GAFPN BZ 44047412.2 -45669964.1
COBRASMA CBMA3 BZ 51195095.3 -1858601739
COBRASMA SA COBRON BZ 51195095.3 -1858601739
COBRASMA SA-PREF COBRPN BZ 51195095.3 -1858601739
COBRASMA-PREF CBMA4 BZ 51195095.3 -1858601739
D H B DHBI3 BZ 94806424.1 -188014922
D H B-PREF DHBI4 BZ 94806424.1 -188014922
DHB IND E COM DHBON BZ 94806424.1 -188014922
DHB IND E COM-PR DHBPN BZ 94806424.1 -188014922
DOC IMBITUBA IMBI3 BZ 103926124 -44366334.9
DOC IMBITUBA-RT 8218594Q BZ 103926124 -44366334.9
DOC IMBITUBA-RT 9866923Q BZ 103926124 -44366334.9
DOC IMBITUBA-RT IMBI1 BZ 103926124 -44366334.9
DOC IMBITUBA-RTC 8174503Q BZ 103926124 -44366334.9
DOC IMBITUBA-RTP 8174507Q BZ 103926124 -44366334.9
DOC IMBITUB-PREF IMBI4 BZ 103926124 -44366334.9
DOCA INVESTIMENT DOCA3 BZ 187044412 -204249587
DOCA INVEST-PREF DOCA4 BZ 187044412 -204249587
DOCAS IMBITUBA IMBION BZ 103926124 -44366334.9
DOCAS IMBITUB-PR IMBIPN BZ 103926124 -44366334.9
DOCAS SA DOCAON BZ 187044412 -204249587
DOCAS SA-PREF DOCAPN BZ 187044412 -204249587
DOCAS SA-RTS PRF DOCA2 BZ 187044412 -204249587
EBX BRASIL SA CTMN3 BZ 2277323307 -528769640
EDELAP-B ELAP AR 228302327 -21022097
EDELAP-B ELAPC AR 228302327 -21022097
EDELAP-B ELAPD AR 228302327 -21022097
ELEC ARG SA-PREF EASA6 AR 1019816241 -75790649.4
ELEC ARGENT-ADR EASA LX 1019816241 -75790649.4
ELEC DE ARGE-ADR 1262Q US 1019816241 -75790649.4
ELECTRICIDAD ARG 3447811Z AR 1019816241 -75790649.4
EMPRESA DISTRI-A 0122195D AR 228302327 -21022097
EMPRESA DISTRI-C 0122369D AR 228302327 -21022097
ESTRELA SA ESTR3 BZ 60876966.1 -93330836.7
ESTRELA SA ESTRON BZ 60876966.1 -93330836.7
ESTRELA SA-PREF ESTR4 BZ 60876966.1 -93330836.7
ESTRELA SA-PREF ESTRPN BZ 60876966.1 -93330836.7
F GUIMARAES FGUI3 BZ 11016542.2 -151840378
F GUIMARAES-PREF FGUI4 BZ 11016542.2 -151840378
FABRICA RENAUX FTRX3 BZ 66603695.4 -76419246.3
FABRICA RENAUX FRNXON BZ 66603695.4 -76419246.3
FABRICA RENAUX-P FTRX4 BZ 66603695.4 -76419246.3
FABRICA RENAUX-P FRNXPN BZ 66603695.4 -76419246.3
FABRICA TECID-RT FTRX1 BZ 66603695.4 -76419246.3
FER HAGA-PREF HAGA4 BZ 15210587.4 -26122509.1
FERRAGENS HAGA HAGAON BZ 15210587.4 -26122509.1
FERRAGENS HAGA-P HAGAPN BZ 15210587.4 -26122509.1
FERREIRA GUIMARA FGUION BZ 11016542.2 -151840378
FERREIRA GUIM-PR FGUIPN BZ 11016542.2 -151840378
FORJA TAURUS FJTA11 BZ 312324319 -17602635.1
FORJA TAURUS FJTA12 BZ 312324319 -17602635.1
FORJA TAURUS FORJF US 312324319 -17602635.1
FORJA TAURUS FJTA3 BZ 312324319 -17602635.1
FORJA TAURUS-PRF FORZF US 312324319 -17602635.1
FORJA TAURUS-PRF FJTA4 BZ 312324319 -17602635.1
FORJA TAURUS-RCT 1272182D BZ 312324319 -17602635.1
FORJA TAURUS-RCT 1272184D BZ 312324319 -17602635.1
FORJA TAURUS-RCT 1304888D BZ 312324319 -17602635.1
FORJA TAURUS-RCT 1304790D BZ 312324319 -17602635.1
FORJA TAURUS-RTS 1272180D BZ 312324319 -17602635.1
FORJA TAURUS-RTS 1272181D BZ 312324319 -17602635.1
FORJA TAURUS-RTS 1304881D BZ 312324319 -17602635.1
FORJA TAURUS-RTS 1304791D BZ 312324319 -17602635.1
FORJA TAURUS-RTS FJTA2 BZ 312324319 -17602635.1
FORJA TAURUS-RTS FJTA1 BZ 312324319 -17602635.1
FORJA TAURUS-RTS FJTA10 BZ 312324319 -17602635.1
FORJAS TAURUS SA TAUSON BZ 312324319 -17602635.1
FORJAS TAURUS-PR TAUSPN BZ 312324319 -17602635.1
GOL GOLL3 BZ 3224530350 -323901544
GOL PREF - RCT 1303123D BZ 3224530350 -323901544
GOL PREF - RTS 1303121D BZ 3224530350 -323901544
GOL PREF - RTS GOLL2 BZ 3224530350 -323901544
GOL-ADR GOL US 3224530350 -323901544
GOL-ADR GOQ GR 3224530350 -323901544
GOL-ADR GOLN MM 3224530350 -323901544
GOL-PREF GOLL4 BZ 3224530350 -323901544
GOL-RCT 0113335D BZ 3224530350 -323901544
GOL-RCT 0113338D BZ 3224530350 -323901544
GOL-RCT GOLL9 BZ 3224530350 -323901544
GOL-RCT 1003238D BZ 3224530350 -323901544
GOL-RT 0113333D BZ 3224530350 -323901544
GOL-RT 0113334D BZ 3224530350 -323901544
GOL-RT GOLL1 BZ 3224530350 -323901544
GOL-RT 1003237D BZ 3224530350 -323901544
GRADIENTE ELETR IGBON BZ 183430930 -135324913
GRADIENTE EL-PRA IGBAN BZ 183430930 -135324913
GRADIENTE EL-PRB IGBBN BZ 183430930 -135324913
GRADIENTE EL-PRC IGBCN BZ 183430930 -135324913
GRADIENTE-PREF A IGBR5 BZ 183430930 -135324913
GRADIENTE-PREF B IGBR6 BZ 183430930 -135324913
GRADIENTE-PREF C IGBR7 BZ 183430930 -135324913
HAGA HAGA3 BZ 15210587.4 -26122509.1
HOPI HARI SA PQTM3 BZ 135437870 -15815342.3
HOPI HARI-PREF PQTM4 BZ 135437870 -15815342.3
HOTEIS OTHON SA HOOT3 BZ 172663674 -17533639.5
HOTEIS OTHON SA HOTHON BZ 172663674 -17533639.5
HOTEIS OTHON-PRF HOOT4 BZ 172663674 -17533639.5
HOTEIS OTHON-PRF HOTHPN BZ 172663674 -17533639.5
IGB ELETRONICA IGBR3 BZ 183430930 -135324913
IGUACU CAFE IGUA3 BZ 190073766 -74308212
IGUACU CAFE IGCSON BZ 190073766 -74308212
IGUACU CAFE IGUCF US 190073766 -74308212
IGUACU CAFE-PR A IGUA5 BZ 190073766 -74308212
IGUACU CAFE-PR A IGCSAN BZ 190073766 -74308212
IGUACU CAFE-PR A IGUAF US 190073766 -74308212
IGUACU CAFE-PR B IGUA6 BZ 190073766 -74308212
IGUACU CAFE-PR B IGCSBN BZ 190073766 -74308212
IMPSAT FIBER NET IMPTQ US 535007008 -17164978
IMPSAT FIBER NET 330902Q GR 535007008 -17164978
IMPSAT FIBER NET XIMPT SM 535007008 -17164978
IMPSAT FIBER-$US IMPTD AR 535007008 -17164978
IMPSAT FIBER-BLK IMPTB AR 535007008 -17164978
IMPSAT FIBER-C/E IMPTC AR 535007008 -17164978
IMPSAT FIBER-CED IMPT AR 535007008 -17164978
INEPAR INEP3 BZ 832445178 -356470593
INEPAR BONUS B INEP12 BZ 832445178 -356470593
INEPAR SA INPRON BZ 832445178 -356470593
INEPAR SA-PREF INPRPN BZ 832445178 -356470593
INEPAR-COM DVD INEP11 BZ 832445178 -356470593
INEPAR-PREF INEP4 BZ 832445178 -356470593
INEPAR-PRF DVD INEP13 BZ 832445178 -356470593
INEPAR-RCT ORD 3697790Q BZ 832445178 -356470593
INEPAR-RCT ORD INEP9 BZ 832445178 -356470593
INEPAR-RCT PREF 3697794Q BZ 832445178 -356470593
INEPAR-RCT PREF INEP10 BZ 832445178 -356470593
INEPAR-RT ORD 3697782Q BZ 832445178 -356470593
INEPAR-RT ORD INEP1 BZ 832445178 -356470593
INEPAR-RT PREF 3697786Q BZ 832445178 -356470593
INEPAR-RT PREF INEP2 BZ 832445178 -356470593
INVERS ELEC BUEN IEBAA AR 213542509 -68439920.3
INVERS ELEC BUEN IEBAB AR 213542509 -68439920.3
INVERS ELEC BUEN IEBA AR 213542509 -68439920.3
KARSTEN CTKCF US 91958416.3 -24851238.1
KARSTEN CTKON BZ 91958416.3 -24851238.1
KARSTEN SA CTKA3 BZ 91958416.3 -24851238.1
KARSTEN SA - RCT CTKA9 BZ 91958416.3 -24851238.1
KARSTEN SA - RCT CTKA10 BZ 91958416.3 -24851238.1
KARSTEN SA - RTS CTKA1 BZ 91958416.3 -24851238.1
KARSTEN SA - RTS CTKA2 BZ 91958416.3 -24851238.1
KARSTEN-PREF CTKPF US 91958416.3 -24851238.1
KARSTEN-PREF CTKA4 BZ 91958416.3 -24851238.1
KARSTEN-PREF CTKPN BZ 91958416.3 -24851238.1
KOSMOS COMERCIO LOAR4 BZ 39080266.4 -2450355045
LAEP INVES-BDR B 0163599D BZ 222902269 -255311026
LAEP INVESTMEN-B 0122427D LX 222902269 -255311026
LAEP INVESTMENTS LEAP LX 222902269 -255311026
LAEP-BDR MILK33 BZ 222902269 -255311026
LAEP-BDR MILK11 BZ 222902269 -255311026
LOJAS ARAPUA LOAR3 BZ 39080266.4 -2450355045
LOJAS ARAPUA LOARON BZ 39080266.4 -2450355045
LOJAS ARAPUA-GDR 3429T US 39080266.4 -2450355045
LOJAS ARAPUA-GDR LJPSF US 39080266.4 -2450355045
LOJAS ARAPUA-PRF LOARPN BZ 39080266.4 -2450355045
LOJAS ARAPUA-PRF 52353Z US 39080266.4 -2450355045
MANGELS INDL MGEL3 BZ 130877274 -67079077.9
MANGELS INDL SA MISAON BZ 130877274 -67079077.9
MANGELS INDL-PRF MGIRF US 130877274 -67079077.9
MANGELS INDL-PRF MGEL4 BZ 130877274 -67079077.9
MANGELS INDL-PRF MISAPN BZ 130877274 -67079077.9
MET DUQUE DUQE3 BZ 75039127.4 -2847420.37
MET DUQUE MDUON BZ 75039127.4 -2847420.37
MET DUQUE-PREF DUQE4 BZ 75039127.4 -2847420.37
MET DUQUE-PREF MDUPN BZ 75039127.4 -2847420.37
METROGAS SA MGAI US 327285099 -37016892.9
METROGAS SA-A 153255Z AR 327285099 -37016892.9
METROGAS SA-C 153263Z AR 327285099 -37016892.9
METROGAS-ADR MGS US 327285099 -37016892.9
METROGAS-ADR MGSA GR 327285099 -37016892.9
METROGAS-B MGSBF US 327285099 -37016892.9
METROGAS-B METR AR 327285099 -37016892.9
METROGAS-B METRC AR 327285099 -37016892.9
METROGAS-B METRD AR 327285099 -37016892.9
METROGAS-B MGSB GR 327285099 -37016892.9
METROGAS-B BLOCK METRB AR 327285099 -37016892.9
MINUPAR MNPR3 BZ 65882736.8 -76363523.6
MINUPAR SA MNPRON BZ 65882736.8 -76363523.6
MINUPAR SA-PREF MNPRPN BZ 65882736.8 -76363523.6
MINUPAR-PREF MNPR4 BZ 65882736.8 -76363523.6
MINUPAR-RCT 9314634Q BZ 65882736.8 -76363523.6
MINUPAR-RCT 0599564D BZ 65882736.8 -76363523.6
MINUPAR-RCT MNPR9 BZ 65882736.8 -76363523.6
MINUPAR-RT 9314542Q BZ 65882736.8 -76363523.6
MINUPAR-RT 0599562D BZ 65882736.8 -76363523.6
MINUPAR-RTS MNPR1 BZ 65882736.8 -76363523.6
MMX MINERACA-GDR MMXMY US 471049316 -340913823
MMX MINERACA-GDR 0567931D CN 471049316 -340913823
MMX MINERACA-GDR 3M11 GR 471049316 -340913823
MMX MINERACA-GDR MMXMD US 471049316 -340913823
MMX MINERACAO TRES3 BZ 471049316 -340913823
MMX MINERACAO MMXCF US 471049316 -340913823
MMX MINERACAO MMXM11 BZ 471049316 -340913823
MMX MINERACAO MMXXF US 471049316 -340913823
MMX MINERACAO MMXM3 BZ 471049316 -340913823
MMX MINERACAO-RT 4111484Q BZ 471049316 -340913823
MMX MINERACAO-RT 0626050D BZ 471049316 -340913823
MMX MINERACA-RCT 4111488Q BZ 471049316 -340913823
MMX MINERACA-RCT 0626051D BZ 471049316 -340913823
MMX MINERACA-RCT MMXM9 BZ 471049316 -340913823
MMX MINERACA-RTS MMXM1 BZ 471049316 -340913823
MORIXE HERM-5 VT MORI5 AR 19006540.3 -928833.864
MORIXE HERMAN-BL MORIB AR 19006540.3 -928833.864
MORIXE HERMANOS MORI AR 19006540.3 -928833.864
MORIXE HERMANOS MORID AR 19006540.3 -928833.864
MORIXE HERMANOS MORIC AR 19006540.3 -928833.864
NOVA AMERICA SA NOVA3 BZ 21287488.9 -183535526
NOVA AMERICA SA NOVA3B BZ 21287488.9 -183535526
NOVA AMERICA SA NOVAON BZ 21287488.9 -183535526
NOVA AMERICA SA 1NOVON BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVA4 BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVA4B BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVAPN BZ 21287488.9 -183535526
NOVA AMERICA-PRF 1NOVPN BZ 21287488.9 -183535526
OGX PETROLEO CTCO3 BZ 20975305.4 -23206893.6
OL PREF - RCT GOLL10 BZ 3224530350 -323901544
OLEO E GAS P-ADR OGXPY US 20975305.4 -23206893.6
OLEO E GAS P-ADR OGXPYEUR EO 20975305.4 -23206893.6
OLEO E GAS P-ADR OGXPYEUR EU 20975305.4 -23206893.6
OLEO E GAS P-ADR 8OGB GR 20975305.4 -23206893.6
OLEO E GAS PART OGXP3 BZ 20975305.4 -23206893.6
OLEO E GAS PART OGXP5 BZ 20975305.4 -23206893.6
OLEO E GAS PART OGXP6 BZ 20975305.4 -23206893.6
OLEO E GAS PART OGXPF US 20975305.4 -23206893.6
OSX BRASIL - RTS 0701756D BZ 2277323307 -528769640
OSX BRASIL - RTS 0701757D BZ 2277323307 -528769640
OSX BRASIL - RTS 0812903D BZ 2277323307 -528769640
OSX BRASIL - RTS 0812904D BZ 2277323307 -528769640
OSX BRASIL - RTS OSXB1 BZ 2277323307 -528769640
OSX BRASIL - RTS OSXB9 BZ 2277323307 -528769640
OSX BRASIL SA OSXB3 BZ 2277323307 -528769640
OSX BRASIL SA EBXB3 BZ 2277323307 -528769640
OSX BRASIL SA OSXRF US 2277323307 -528769640
OSX BRASIL S-GDR OSXRY US 2277323307 -528769640
PADMA INDUSTRIA LCSA4 BZ 388720096 -213641152
PARMALAT LCSA3 BZ 388720096 -213641152
PARMALAT BRASIL LCSAON 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
PARQUE TEM-DV CM PQT5 BZ 135437870 -15815342.3
PARQUE TEM-DV PF PQT6 BZ 135437870 -15815342.3
PARQUE TEM-RCT C PQTM9 BZ 135437870 -15815342.3
PARQUE TEM-RCT P PQTM10 BZ 135437870 -15815342.3
PARQUE TEM-RT CM PQTM1 BZ 135437870 -15815342.3
PARQUE TEM-RT PF PQTM2 BZ 135437870 -15815342.3
PET MANG-RECEIPT 0229292Q BZ 146857128 -409610413
PET MANG-RECEIPT 0229296Q BZ 146857128 -409610413
PET MANG-RECEIPT RPMG9 BZ 146857128 -409610413
PET MANG-RECEIPT RPMG10 BZ 146857128 -40961041
PET MANG-RIGHTS 3678565Q BZ 146857128 -409610413
PET MANG-RIGHTS 3678569Q BZ 146857128 -409610413
PET MANG-RT 4115360Q BZ 146857128 -409610413
PET MANG-RT 4115364Q BZ 146857128 -409610413
PET MANG-RT 0229249Q BZ 146857128 -409610413
PET MANG-RT 0229268Q BZ 146857128 -409610413
PET MANG-RT RPMG2 BZ 146857128 -409610413
PET MANG-RT 0848424D BZ 146857128 -409610413
PET MANG-RTS 1227980D BZ 146857128 -409610413
PET MANGUINH-PRF RPMG4 BZ 146857128 -409610413
PET MANGUINH-RTS RPMG1 BZ 146857128 -409610413
PETRO MANGUINHOS RPMG3 BZ 146857128 -409610413
PETRO MANGUINHOS MANGON BZ 146857128 -409610413
PETRO MANGUIN-PF MANGPN BZ 146857128 -409610413
PILMAIQUEN PILMAIQ CI 165119822 -32646104.5
PORTX OPERACOES PRTX3 BZ 976769385 -9407990.18
PORTX OPERA-GDR PXTPY US 976769385 -9407990.18
PUYEHUE PUYEH CI 17660616.6 -6652295.06
PUYEHUE RIGHT PUYEHUOS CI 17660616.6 -6652295.06
RB CAPITAL RBCS3B BZ 13996658.5 -815.062365
RECRUSUL RCSL3 BZ 14029393.8 -32749735
RECRUSUL - RCT 4529789Q BZ 14029393.8 -32749735
RECRUSUL - RCT 4529793Q BZ 14029393.8 -32749735
RECRUSUL - RCT 0163582D BZ 14029393.8 -32749735
RECRUSUL - RCT 0163583D BZ 14029393.8 -32749735
RECRUSUL - RCT 0614675D BZ 14029393.8 -32749735
RECRUSUL - RCT 0614676D BZ 14029393.8 -32749735
RECRUSUL - RCT RCSL10 BZ 14029393.8 -32749735
RECRUSUL - RT 4529781Q BZ 14029393.8 -32749735
RECRUSUL - RT 4529785Q BZ 14029393.8 -32749735
RECRUSUL - RT 0163579D BZ 14029393.8 -32749735
RECRUSUL - RT 0163580D BZ 14029393.8 -32749735
RECRUSUL - RT 0614673D BZ 14029393.8 -32749735
RECRUSUL - RT 0614674D BZ 14029393.8 -32749735
RECRUSUL SA RESLON BZ 14029393.8 -32749735
RECRUSUL SA-PREF RESLPN BZ 14029393.8 -32749735
RECRUSUL SA-RCT RCSL9 BZ 14029393.8 -32749735
RECRUSUL SA-RTS RCSL1 BZ 14029393.8 -32749735
RECRUSUL SA-RTS RCSL2 BZ 14029393.8 -32749735
RECRUSUL-BON RT RCSL11 BZ 14029393.8 -32749735
RECRUSUL-BON RT RCSL12 BZ 14029393.8 -32749735
RECRUSUL-PREF RCSL4 BZ 14029393.8 -32749735
RENAUXVIEW SA TXRX3 BZ 33757610.2 -74431020.7
RENAUXVIEW SA-PF TXRX4 BZ 33757610.2 -74431020.7
RIMET REEM3 BZ 103098359 -185417651
RIMET REEMON BZ 103098359 -185417651
RIMET-PREF REEM4 BZ 103098359 -185417651
RIMET-PREF REEMPN BZ 103098359 -185417651
SANESALTO SNST3 BZ 15583653.5 -4261184.52
SANSUY SNSY3 BZ 136020731 -152229409
SANSUY SA SNSYON BZ 136020731 -152229409
SANSUY SA-PREF A SNSYAN BZ 136020731 -152229409
SANSUY SA-PREF B SNSYBN BZ 136020731 -152229409
SANSUY-PREF A SNSY5 BZ 136020731 -152229409
SANSUY-PREF B SNSY6 BZ 136020731 -152229409
SCHLOSSER SCLO3 BZ 35479691.9 -46000437.6
SCHLOSSER SA SCHON BZ 35479691.9 -46000437.6
SCHLOSSER SA-PRF SCHPN BZ 35479691.9 -46000437.6
SCHLOSSER-PREF SCLO4 BZ 35479691.9 -46000437.6
SNIAFA SA SNIA AR 11229696.2 -2670544.86
SNIAFA SA-B SDAGF US 11229696.2 -2670544.86
SNIAFA SA-B SNIA5 AR 11229696.2 -2670544.86
STAROUP SA STARON BZ 27663605.3 -7174512.12
STAROUP SA-PREF STARPN BZ 27663605.3 -7174512.12
TEC TOY SA-PF B TOYB6 BZ 14874965 -3087009.49
TEC TOY SA-PREF TOYDF US 14874965 -3087009.49
TEC TOY SA-PREF TOYB5 BZ 14874965 -3087009.49
TEC TOY-RCT 7335626Q BZ 14874965 -3087009.49
TEC TOY-RCT 7335630Q BZ 14874965 -3087009.49
TEC TOY-RCT 1254572D BZ 14874965 -3087009.49
TEC TOY-RCT 1254573D BZ 14874965 -3087009.49
TEC TOY-RT 7335610Q BZ 14874965 -3087009.49
TEC TOY-RT 7335614Q BZ 14874965 -3087009.49
TEC TOY-RT 1254570D BZ 14874965 -3087009.49
TEC TOY-RT 1254571D BZ 14874965 -3087009.49
TECTOY TOYB3 BZ 14874965 -3087009.49
TECTOY TOYB13 BZ 14874965 -3087009.49
TECTOY - RCT TOYB9 BZ 14874965 -3087009.49
TECTOY - RTS TOYB1 BZ 14874965 -3087009.49
TECTOY - RTS TOYB2 BZ 14874965 -3087009.49
TECTOY SA TOYBON BZ 14874965 -3087009.49
TECTOY SA-PREF TOYBPN BZ 14874965 -3087009.49
TECTOY-PF-RTS5/6 TOYB11 BZ 14874965 -3087009.49
TECTOY-PREF TOYB4 BZ 14874965 -3087009.49
TECTOY-RCPT PF B TOYB12 BZ 14874965 -3087009.49
TEKA TKTQF US 263356756 -337860221
TEKA TEKA3 BZ 263356756 -337860221
TEKA TEKAON BZ 263356756 -337860221
TEKA-ADR TEKAY US 263356756 -337860221
TEKA-ADR TKTPY US 263356756 -337860221
TEKA-ADR TKTQY US 263356756 -337860221
TEKA-PREF TKTPF US 263356756 -337860221
TEKA-PREF TEKA4 BZ 263356756 -337860221
TEKA-PREF TEKAPN BZ 263356756 -337860221
TEKA-RCT TEKA9 BZ 263356756 -337860221
TEKA-RCT TEKA10 BZ 263356756 -337860221
TEKA-RTS TEKA1 BZ 263356756 -337860221
TEKA-RTS TEKA2 BZ 263356756 -337860221
TELEBRAS SA TELB3 BZ 552954651 -19314726.6
TELEBRAS SA TLBRON BZ 552954651 -19314726.6
TELEBRAS SA TBASF US 552954651 -19314726.6
TELEBRAS SA-PREF TELB4 BZ 552954651 -19314726.6
TELEBRAS SA-PREF TLBRPN BZ 552954651 -19314726.6
TELEBRAS SA-RCT TELB9 BZ 552954651 -19314726.6
TELEBRAS SA-RT 0250949D BZ 552954651 -19314726.6
TELEBRAS/W-I-ADR TBH-W US 552954651 -19314726.6
TELEBRAS-ADR TBAPY US 552954651 -19314726.6
TELEBRAS-ADR TBRAY GR 552954651 -19314726.6
TELEBRAS-ADR TBH US 552954651 -19314726.6
TELEBRAS-ADR TBX GR 552954651 -19314726.6
TELEBRAS-ADR RTB US 552954651 -19314726.6
TELEBRAS-ADR TBASY US 552954651 -19314726.6
TELEBRAS-BLOCK TELB30 BZ 552954651 -19314726.6
TELEBRAS-CED C/E TEL4C AR 552954651 -19314726.6
TELEBRAS-CEDE BL RCT4B AR 552954651 -19314726.6
TELEBRAS-CEDE PF RCTB4 AR 552954651 -19314726.6
TELEBRAS-CEDE PF RCT4C AR 552954651 -19314726.6
TELEBRAS-CEDE PF RCT4D AR 552954651 -19314726.6
TELEBRAS-CEDE PF TELB4 AR 552954651 -19314726.6
TELEBRAS-CEDEA $ TEL4D AR 552954651 -19314726.6
TELEBRAS-CM RCPT RCTB31 BZ 552954651 -19314726.6
TELEBRAS-CM RCPT TELE31 BZ 552954651 -19314726.6
TELEBRAS-CM RCPT TBRTF US 552954651 -19314726.6
TELEBRAS-CM RCPT RCTB32 BZ 552954651 -19314726.6
TELEBRAS-CM RCPT RCTB30 BZ 552954651 -19314726.6
TELEBRAS-COM RT 0250948D BZ 552954651 -19314726.6
TELEBRAS-COM RTS TELB1 BZ 552954651 -19314726.6
TELEBRAS-PF BLCK TELB40 BZ 552954651 -19314726.6
TELEBRAS-PF RCPT CBRZF US 552954651 -19314726.6
TELEBRAS-PF RCPT RCTB41 BZ 552954651 -19314726.6
TELEBRAS-PF RCPT TELE41 BZ 552954651 -19314726.6
TELEBRAS-PF RCPT RCTB42 BZ 552954651 -19314726.6
TELEBRAS-PF RCPT RCTB40 BZ 552954651 -19314726.6
TELEBRAS-PF RCPT TBAPF US 552954651 -19314726.6
TELEBRAS-PF RCPT TLBRUP BZ 552954651 -19314726.6
TELEBRAS-RCT RCTB33 BZ 552954651 -19314726.6
TELEBRAS-RCT PRF TELB10 BZ 552954651 -19314726.6
TELEBRAS-RECEIPT TLBRUO BZ 552954651 -19314726.6
TELEBRAS-RTS CMN RCTB1 BZ 552954651 -19314726.6
TELEBRAS-RTS CMN TCLP1 BZ 552954651 -19314726.6
TELEBRAS-RTS PRF RCTB2 BZ 552954651 -19314726.6
TELEBRAS-RTS PRF TLCP2 BZ 552954651 -19314726.6
TELECOMUNICA-ADR 81370Z BZ 552954651 -19314726.6
TEXTEIS RENA-RCT TXRX9 BZ 33757610.2 -74431020.7
TEXTEIS RENA-RCT TXRX10 BZ 33757610.2 -74431020.7
TEXTEIS RENAU-RT TXRX1 BZ 33757610.2 -74431020.7
TEXTEIS RENAU-RT TXRX2 BZ 33757610.2 -74431020.7
TEXTEIS RENAUX RENXON BZ 33757610.2 -74431020.7
TEXTEIS RENAUX RENXPN BZ 33757610.2 -74431020.7
TRESSEM PART SA 1TSSON BZ 471049316 -340913823
VARIG PART EM SE VPSC3 BZ 83017828 -495721697
VARIG PART EM TR VPTA3 BZ 49432119.3 -399290357
VARIG PART EM-PR VPTA4 BZ 49432119.3 -399290357
VARIG PART EM-PR VPSC4 BZ 83017828 -495721697
VARIG SA VAGV3 BZ 966298048 -4695211008
VARIG SA VARGON BZ 966298048 -469521100
VARIG SA-PREF VAGV4 BZ 966298048 -4695211008
VARIG SA-PREF VARGPN BZ 966298048 -4695211008
WETZEL SA MWET3 BZ 70223531.7 -18205488.6
WETZEL SA MWELON BZ 70223531.7 -18205488.6
WETZEL SA-PREF MWET4 BZ 70223531.7 -18205488.6
WETZEL SA-PREF MWELPN BZ 70223531.7 -18205488.6
WIEST WISA3 BZ 34107195.1 -126993682
WIEST SA WISAON BZ 34107195.1 -126993682
WIEST SA-PREF WISAPN BZ 34107195.1 -126993682
WIEST-PREF WISA4 BZ 34107195.1 -126993682
***********
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.
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, and Peter A.
Chapman, Editors.
Copyright 2015. 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
202-362-8552.
* * * End of Transmission * * *