/raid1/www/Hosts/bankrupt/TCRLA

/raid1/www/Hosts/bankrupt/TCRLA_Public/161212.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 Monday, December 12, 2016, Vol. 17, No. 245 Headlines B R A Z I L FIORI EMPREENDIMENTOS: Judge Freezes Firm's, Rio Mayor's Assets C A Y M A N I S L A N D S AQR EMERGING: Placed Under Voluntary Wind-Up AVERY CAPITAL: Creditors' Proofs of Debt Due Dec. 13 FLEMING ASSET: Placed Under Voluntary Wind-Up HITS AFRICA: Creditors' Annual Meeting Set for Dec. 14 LOCKINGTON HOLDINGS: Commences Liquidation Proceedings MC 1 - SPV 1: Creditors' Proofs of Debt Due Dec. 30 SPROTT MASTER: Placed Under Voluntary Wind-Up SPROTT MASTER II: Placed Under Voluntary Wind-Up SPROTT OFFSHORE: Placed Under Voluntary Wind-Up SPROTT OFFSHORE II: Placed Under Voluntary Wind-Up WCG MASTER: Commences Liquidation Proceedings WCG OFFSHORE: Commences Liquidation Proceedings C H I L E CHILE: GDP Growth Has Been Weak, IMF Says D O M I N I C A N R E P U B L I C DOMINICAN REPUBLIC: Flooding Causes US$64.5M Loss to Banana Sector DOMINICAN REP: Business Leader Says Exports Must Be Prioritized G U Y A N A GUYANA: Governor Dismiss Reports of Foreign Currency Crisis GUYANA: Temporarily Suspends Trade of Barbadian Dollar P U E R T O R I C O LEVITT HOMES: Unsecureds to Recoup 70% Under Plan OLIVER C&I: Seeks to Hire Villafane & Oti as External Auditor PRINTING AND BIKE: Court Grants Final OK to Disclosure Statement VEGA ALTA: U.S. Trustee Directed to Appoint PCO UROTECH INC: Hires Homel Mercado as Attorney X X X X X X X X X * BOND PRICING: For the Week From Dec. 5 to Dec. 9, 2016 - - - - - =========== B R A Z I L =========== FIORI EMPREENDIMENTOS: Judge Freezes Firm's, Rio Mayor's Assets --------------------------------------------------------------- Paul Kiernan at The Wall Street Journal reports that a state judge froze the assets of Rio Mayor Eduardo Paes and a local real-estate contractor in connection with a controversial golf course built here for the 2016 Olympics. Judge Leonardo Grandmasson Ferreira Chaves found Mr. Paes guilty of "administrative improbity" for exempting real-estate firm Fiori Empreendimentos Imobiliarios from paying BRL1.86 million ($551,929) in environmental fees required to build the Olympic golf course, according to The Wall Street Journal. Judge Chaves said the exemption caused "evident damage to the municipal purse," the report notes. The decision is likely to reinforce widespread concern among Rio residents that the pro-business mayor, a fluent English speaker, used the Olympics to enrich well-connected firms and investors, the report relays. The report discloses that Fiori Empreendimentos is part-owned by Pasquale Mauro, an aging real-estate mogul who owns vast tracts of land in the upscale Rio neighborhood of Barra da Tijuca, where Mr. Paes started his political career and where the 2016 Olympics were centered, at the cost of billions of dollars in public investment. Mr. Paes said he would appeal Judge Chaves's ruling, adding that contrary to the judge's statements, the city had charged the environmental fees but Fiori Empreendimentos didn't pay, the report relays. His press office released copies of bills made out to Fiori Empreendimentos this year listing the fees plus fines for delayed payment, the report notes. The office of the public prosecutors who filed suit against Mr. Paes responded with a 2013 document, signed by the mayor, which they say shows the city government agreed to pay the fees on behalf of Fiori Empreendimentos, the report notes. The firm didn't respond to repeated attempts to contact it. The state court said the asset freeze was a measure to prevent Mr. Paes, who is scheduled leaving the country next year to take a position as a visiting professor at Columbia University, from escaping future punishment, the report relays. Mr. Paes responded that his "departure to New York has been public knowledge for more than a year, since he received the invitation from one of the most important American universities, Columbia University, which is part of the renowned Ivy League," the report relays. He added that he plans to return to Brazil to run for governor of Rio in 2018, the report notes. Columbia University didn't immediately respond to a request for comment, says WSJ. As reported in the Troubled Company Reporter-Latin America on Nov. 15, 2016, Fitch Ratings has affirmed Brazil's Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB'/ Negative Outlook. Brazil's senior unsecured Foreign- and Local- Currency bonds are also affirmed at 'BB'. The Country Ceiling is affirmed at 'BB+' and the Short-Term Foreign and Local-Currency IDRs at 'B'. ========================== C A Y M A N I S L A N D S ========================== AQR EMERGING: Placed Under Voluntary Wind-Up -------------------------------------------- On Nov. 11, 2016, the sole shareholder of AQR Emerging Defensive Equity Offshore Fund Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: AQR Capital Management, LLC c/o Joanne Huckle 89 Nexus Way, Camana Bay Grand Cayman KY1-9009 Cayman Islands Telephone: +1 (345) 949 9876 Facsimile: +1 (345) 949-9877 AVERY CAPITAL: Creditors' Proofs of Debt Due Dec. 13 ---------------------------------------------------- The creditors of Avery Capital Ltd. are required to file their proofs of debt by Dec. 13, 2016, to be included in the company's dividend distribution. The company commenced wind-up proceedings on Nov. 11, 2016. The company's liquidator is: Benno Hafner Sonnenhof 8 Lucerne 6004 Switzerland Telephone + 41 44 201 95 01 Facsimile: + 41 201 95 41 FLEMING ASSET: Placed Under Voluntary Wind-Up --------------------------------------------- On Oct. 28, 2016, the sole shareholder of Fleming Asset Management (Cayman) Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Kenneth Stewart c/o Apex Fund Services (Cayman) Ltd. 161a Artillery Court, Shedden Road P.O. Box 10085 Grand Cayman KY1 1001 Cayman Islands Telephone: (345) 747 2739 HITS AFRICA: Creditors' Annual Meeting Set for Dec. 14 ------------------------------------------------------ The creditors of Hits Africa Ltd will hold their annual meeting on Dec. 14, 2016, at 10:00 a.m. The company's liquidator is: Mr. Keiran Hutchison c/o Sophie Hill Ernst & Young Ltd. One Montague Place, East Bay Street P.O. Box N-3231 Nassau Bahamas Telephone: (242) 502 6067 Facsimile: (242) 502 6090 LOCKINGTON HOLDINGS: Commences Liquidation Proceedings ------------------------------------------------------ On Nov. 11, 2016, the sole shareholder of Lockington Holdings Limited resolved to voluntarily liquidate the company's business. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Frances Holliday c/o Jasmine Amaria Walkers 6 Gracechurch Street London EC3V 0AT UK Telephone: +1 44 207 2204975 MC 1 - SPV 1: Creditors' Proofs of Debt Due Dec. 30 --------------------------------------------------- The creditors of MC 1 - SPV 1 are required to file their proofs of debt by Dec. 30, 2016, to be included in the company's dividend distribution. The company commenced liquidation proceedings on Nov. 3, 2016. The company's liquidator is: Victor Murray MG Management Ltd. P.O. Box 30116 Grand Cayman KY1-1201 Landmark Square, 2nd Floor 64 Earth Close Seven Mile Beach Cayman Islands Telephone: +1 (345) 749 8181 Facsimile: +1 (345) 743 6767 SPROTT MASTER: Placed Under Voluntary Wind-Up --------------------------------------------- On Nov. 10, 2016, the sole shareholder of Sprott Master Fund, Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Samgenpar, Ltd. c/o Joanne Huckle Ogier 89 Nexus Way, Camana Bay Grand Cayman KY1-9009 Cayman Islands Telephone: +1 (345) 949 9876 Facsimile: +1 (345) 949-9877 SPROTT MASTER II: Placed Under Voluntary Wind-Up ------------------------------------------------ On Nov. 10, 2016, the sole shareholder of Sprott Master Fund II, Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Samgenpar, Ltd. c/o Joanne Huckle Ogier 89 Nexus Way, Camana Bay Grand Cayman KY1-9009 Cayman Islands Telephone: +1 (345) 949 9876 Facsimile: +1 (345) 949-9877 SPROTT OFFSHORE: Placed Under Voluntary Wind-Up ----------------------------------------------- On Nov. 10, 2016, the sole shareholder of Sprott Offshore Fund, Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Samgenpar, Ltd. c/o Joanne Huckle Ogier 89 Nexus Way, Camana Bay Grand Cayman KY1-9009 Cayman Islands Telephone: +1 (345) 949 9876 Facsimile: +1 (345) 949-9877 SPROTT OFFSHORE II: Placed Under Voluntary Wind-Up -------------------------------------------------- On Nov. 10, 2016, the sole shareholder of Sprott Offshore Fund II, Ltd. resolved to voluntarily wind up the company's operations. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Samgenpar, Ltd. c/o Joanne Huckle Ogier 89 Nexus Way, Camana Bay Grand Cayman KY1-9009 Cayman Islands Telephone: +1 (345) 949 9876 Facsimile: +1 (345) 949-9877 WCG MASTER: Commences Liquidation Proceedings --------------------------------------------- On Nov. 10, 2016, the sole shareholder of WCG Master Fund, Ltd. resolved to voluntarily liquidate the company's business. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Barry Wittlin Walkers 190 Elgin Avenue, George Town Grand Cayman KY1-9001 Cayman Islands Telephone: (345) 914 6386 WCG OFFSHORE: Commences Liquidation Proceedings ----------------------------------------------- On Nov. 10, 2016, the sole shareholder of WCG Offshore Fund, Ltd. resolved to voluntarily liquidate the company's business. Creditors are required to file their proofs of debt to be included in the company's dividend distribution. The company's liquidator is: Barry Wittlin Walkers 190 Elgin Avenue, George Town Grand Cayman KY1-9001 Cayman Islands Telephone: (345) 914 6386 ========= C H I L E ========= CHILE: GDP Growth Has Been Weak, IMF Says ----------------------------------------- On December 7, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Chile. GDP growth has been weak, with activity slowing in October. However, conditions are in place for the economy to recover. After expanding by a moderate 1.7 this year, growth is forecast to increase to 2 percent in 2017. Faster growth in main regional partners and more stable copper prices are expected to lift exports and investment. The recovery is, however, projected to be gradual, held back by slow wage and job growth and still low business confidence. Inflation is expected to continue to decelerate to 2.7 percent next year. The balance of risks is on the downside. The main external risk is an unexpected slowdown in Chile's main trading partners, China and Brazil. Possible changes to the U.S. policy path have added uncertainty to the outlook. External risks could be magnified by high corporate leverage and reliance on foreign currency debt. Domestically, the main risks are a delayed recovery in business confidence and investment related to larger the expected uncertainties surrounding a new labor bill. Also, should a pension reform be approved, an increase in contribution rates could dampen growth over the medium term. On the upside, a fiscal expansion in advanced economies could raise external demand above expectations. The financial sector appears healthy. Banks profitability is declining but capital buffers are adequate and non-performing loan rates are low. Discussions about a strengthening of the regulatory framework, especially Basel III, and a strengthening of supervision have been underway for some time. The macroeconomic policy mix remains accommodative. Amidst fast disinflation and slow activity, the policy rate has remained unchanged throughout 2016 and policy guidance is now setting the tone for an easing cycle. The strong net public-asset position has allowed the use of fiscal space so far, and the envisaged consolidation is gradual and geared toward pro-growth spending. Structural reforms are setting the stage for stronger growth. Investment in infrastructure, especially roads and electricity, have come underway. Implementations of the previously approved education reform is proceeding. More recently a package of measures aimed at raising productivity has been passed. Executive Board Assessment Executive Directors commended the authorities' sound macroeconomic management, which has contributed to Chile's resilience to large terms-of-trade shocks. At the same time, Directors noted that less favorable external conditions, declining trend growth, and an urgent need to address social needs could impact the country's economic prospects. Directors welcomed the authorities' continued commitment to strong policies and reforms aimed at achieving higher and more inclusive growth and tackling the challenges ahead. Directors welcomed the current monetary policy stance which is based on an inflation-targeting framework and a flexible exchange rate regime. They supported the ongoing monetary policy accommodation and agreed that further easing could be considered in case disinflationary pressures broaden and growth risks intensify. They recommended that monetary policy decisions should continue to be data dependent. Directors commended the authorities' shift toward fiscal consolidation, given the sizable structural deficit, and recommended a gradual consolidation path so as to minimize the drag on the recovery. They noted that the role of the Advisory Fiscal Council could be strengthened to buttress fiscal credibility. Directors noted that although Chile's pension system is sound, it is not delivering adequate benefits. They welcomed the authorities' plans to reform the pension system, including ensuring adequate old-age income by strengthening the private and public solidarity pillars, and by reducing the costs of pension fund administration. Directors highlighted that consideration should also be given to increases in contribution rates, retirement ages, and mandatory coverage. In addition, they underscored that economic effects of these reform efforts need to be carefully assessed for their impact on growth as well as on current and future pensions. Directors noted that the financial sector is healthy. However, they encouraged the authorities to closely monitor vulnerabilities as weaker-than-expected growth could strain the solvency of highly leveraged firms and less resilient small-and medium-sized enterprises, with potential for amplification via strong inter- sectoral balance-sheet linkages. Directors underscored the need to further improve resilience by adopting Basel III capital standards and to move towards risk-based supervision of insurers. They also called for more effective oversight of conglomerates and stronger corporate governance and investor protection. Directors emphasized that ambitious structural reforms are necessary to promote stronger and more inclusive growth. They welcomed the authorities' continued efforts toward improving the quality of education, upgrading key infrastructure, and raising productivity. Directors also underscored the importance of tackling legal uncertainties related to the labor reform. =================================== D O M I N I C A N R E P U B L I C =================================== DOMINICAN REPUBLIC: Flooding Causes US$64.5M Loss to Banana Sector ------------------------------------------------------------------ Dominican Today, citing EFE News, reports that the flooding from November's downpours has left nearly US$64.5 million in losses to the banana sector, one of the hardest hit in the Dominican Republic. Dominican Banana Association President Simeon Ram°rez said 35% of the banana plantations "collapsed" from the flooding, according to Dominican Today. Mr. Ramirez noted that around 80% of the harvest is for export, and will jeopardize the plantations, the report notes. Mr. Ramirez said producers will need as much as US$51.6 million to re-plant, and have asked the government to provide low rate loans, the report relays. Agro Chief Agriculture Minister Angel Estevez said preliminary data show decreases in farm production in several areas of the northwest, home to more than 85% of the banana crops for export and domestic consumption, the report relays. The sector's losses, the official said, will cause a "glut" from harvests in the local market in the next few days, but within four or six weeks bananas will "logically experience an increase in price due to the scarcity," the report notes. As reported in the Troubled Company Reporter-Latin America on Nov. 22, 2016, Fitch Ratings has taken the following rating actions on the Dominican Republic: -- Long-Term Foreign Currency Issuer Default Rating (IDR) upgraded to 'BB-' from 'B+'; assigned Stable Outlook; -- Long-Term Local Currency IDR upgraded to 'BB-' from 'B+'; assigned Stable Outlook; -- Senior unsecured Foreign and Local Currency bonds upgraded to 'BB-' from 'B+'; -- Short-Term Foreign Currency IDR affirmed at 'B'; -- Short-Term Local Currency IDR affirmed at 'B'. DOMINICAN REP: Business Leader Says Exports Must Be Prioritized --------------------------------------------------------------- Dominican Today reports that the President of the Round Table of Commonwealth Countries in the Dominican Republic, Fernando Gonzalez Nicolas requested to join efforts between the government and the private sector to prioritize exports. "These are fundamental for the strengthening of the economy in general," the report quoted Mr. Nicolas as saying. Mr. Nicolas added that countries in the world that have achieved sustained economic development and generalized wealth have achieved through prioritizing exports, foreign investment, education, among others, the report notes. Gonzalez Nicolas raised the need to explore new markets for Dominican exports to increase and diversify them, the report relays. He said we need to do more foreign trade missions, organize more international fairs in the country, participate in more exhibitions abroad and do more market research and publicize them, the report discloses. "Working together between the government and the private sector to achieve export development is vital," he added. He suggested that depending on the possibilities to give more support to the Dominican Republic Export and Investment Promotion Center, CEI-RD, providing it with the resources necessary to do an effective job of promoting exports and foreign investment, the report notes. Role Embassies Play The president of the Roundtable highlighted the importance of the role of Dominican embassies abroad in supporting entrepreneurs in the search for new markets for exports and to attract investments, the report relates. Because of the importance of the role played by the ambassadors, he proposed to rotate ambassadors who starry more time than they should, in their respective diplomatic posts, the report discloses. Gonzalez Nicolas said many of those ambassadors have more than 10 years in the same post, a period of time that is unusual in countries with efficient diplomacy, the report notes. Blocked: Dominican Exports to Trinidad In another topic, Gonzalez Nicolas noted that that exports of a dozen Dominican agricultural products isn't allowed by Trinidad since two years ago, the report relays. Mr. Nicolas referred to agricultural items such as bananas, pineapples, tomatoes among others, which cannot be exported to Trinidad since they are subject to barriers imposed by the authorities of that country, the report says. Mr. Nicolas said to solve the problem requires the involvement of the CEI-RD and the Ministry of Agriculture at the highest level, says Dominican Today. "Trinidad is today the main trading partner of the Dominican Republic in the British Caribbean region, CARICOM. Dominican agricultural products are very competitive and there are transport facilities to Trinidad," the report quoted Gonzalez Nicolas as concluding. As reported in the Troubled Company Reporter-Latin America on Nov. 22, 2016, Fitch Ratings has taken the following rating actions on the Dominican Republic: -- Long-Term Foreign Currency Issuer Default Rating (IDR) upgraded to 'BB-' from 'B+'; assigned Stable Outlook; -- Long-Term Local Currency IDR upgraded to 'BB-' from 'B+'; assigned Stable Outlook; -- Senior unsecured Foreign and Local Currency bonds upgraded to 'BB-' from 'B+'; -- Short-Term Foreign Currency IDR affirmed at 'B'; -- Short-Term Local Currency IDR affirmed at 'B'. =========== G U Y A N A =========== GUYANA: Governor Dismiss Reports of Foreign Currency Crisis ----------------------------------------------------------- Trinidad Express reports that the Guyana government has dismissed reports of a foreign currency crisis warning that such reports had the potential to destabilize the country. Finance Minister, Winston Jordan said the report published in a local newspaper about the foreign currency crisis had the ability to destabilize the foreign exchange market and "ultimately destabilize the development of Guyana," according to Trinidad Express. The report notes that Mr. Jordan described the media report as "a lot of hearsay" and wondered whether the newspaper was on a crusade against the David Granger government, the report notes. "I have no problem with people attacking the government, criticizing the government . . . but for you to use situations like these baseless, meaningless, misleading headlines to among other things scare, add to the scare that is going on that is being used by the opposition as it relates to the budget, one begins to wonder what really is the agenda," the report quoted Mr. Jordan as saying. The report relays that the Bank of Guyana Governor, Dr. Gobind Ganga, said the headline and article in the newspaper were both "misleading," adding that the article could be undermining, create false expectations and "obviously put the whole economy in a spin because of the negativity that was portrayed!" The report notes that Mr. Ganga reiterated that there is no evidence that any such purported crisis is looming. Mr. Ganga said that commercial banks have actually increased their gross foreign exchange holdings with figures showing that at the end of September the figure stood at US$388.4 million as against US$357 million for the corresponding period last year, the report relays. The Central Bank, he added had US$598 million in 2015 and that this figure has increased to approximately US$625 million in 2016, the report says. "There is an increase in the holding of foreign exchange and hence there is availability from the holdings," the BOG Governor said, adding that there has been an increase in demand from some foreign entities outside of the traditional banking system, particularly since 2014, the report notes. He used the example of increased supplies of Caribbean Community (CARICOM) currencies in the local banking system, says the report. "More specifically we had an increase in Trinidadian dollars from 9.1 million in 2014 to 24.4 million in 2015," he said, the report relays. The newspaper claimed that commercial banks were adversely affected by having to wait for a supply of foreign exchange, the report recalls. But Mr. Ganga dismissed the suggestion saying "there is not piling because of a demand for foreign exchange at the commercial banks. "No there are not people who are waiting. You will find the commercial banks know who are the legitimate customers and who are not, and there is the demand from elsewhere out of Guyana," the report relates. GUYANA: Temporarily Suspends Trade of Barbadian Dollar ------------------------------------------------------ RJR News reports that Guyana's central bank is temporarily suspending trade in the Barbadian dollar due to a flood of that country's currency in its market. Guyana's monetary authorities also moved against the Trinidad and Tobago dollar, according to RJR News. Though trading is temporarily suspended, the central bank said persons conducting legitimate business could still deal in the dollars of the two CARICOM member states, the report relays. The business community has reportedly been facing a recent shortage of US currency, the report notes. The government has indicated that there is no such shortage as there are adequate reserves, the report says. However, they were worried that local traders were accepting large amounts of Barbados and Trinidad currency and exchanging them for US dollars, the report notes. There is unrestricted access to foreign currency in Guyana and reports are that business people from Barbados and Trinidad have been using this gateway to access US dollars, the report adds. ====================== P U E R T O R I C O ====================== LEVITT HOMES: Unsecureds to Recoup 70% Under Plan ------------------------------------------------- Levitt Homes Corporation filed with the U.S. Bankruptcy Court for the District of Puerto Rico a disclosure statement referring to the Debtor's plan of reorganization. Class 1 Allowed Undisputed General Unsecured Claims are impaired under the Plan. Holders of Allowed Undisputed (Undisputed) General Unsecured Claims (Non-Insiders) for $782,139.32, will be paid in full satisfaction of their claims 70% thereof, at the Effective Date. Class 3 Allowed General Unsecured Claims of Insiders and Debtor's Affiliates are impaired under the Plan. Holders of Allowed General Unsecured Claims of Debtor's Affiliates and Insiders for $3,610,890.84, resulting from advances to the Debtor, loans to the Debtor, and unpaid salaries, will be paid from the sale of the Debtor's remaining assets, on a pro rata basis. The final recovery of these claimants as well as its timing will depend on the future sale of the Debtor's remaining assets and the available cash in the Debtor's account after payment to the classes. The Debtor will effect payments of pending administrative expense claims, priority tax claims, and Class 1 Claims on the Effective Date from the cash balance currently available in the Debtor's accounts. The Disclosure Statement is available at: http://bankrupt.com/misc/prb15-03368-261.pdf Headquartered in San Juan, developer and builder Puerto Rico, Levitt Homes Corporation filed for Chapter 11 bankruptcy protection (Bankr. D. P.R. Case No. 15-03368) on May 4, 2015, listing $4.5 million in total assets and $4.6 million in total liabilities. The petition was signed by Jose Manuel Rodriquez, CPA, vice-president. Judge Enrique S. Lamoutte Inclan presides over the case. Charles Alfred Cuprill, Esq., at Charles A Cuprill, PSC Law Office serves as the Debtor's bankruptcy counsel. OLIVER C&I: Seeks to Hire Villafane & Oti as External Auditor ------------------------------------------------------------- Oliver C & I Corp. seeks approval from the U.S. Bankruptcy Court for the District of Puerto Rico to hire an external auditor. The Debtor proposes to hire Villafane & Oti, Certified Public Accountants, PSC, to prepare its income tax return, audited financial statements and other documents. Aurora Oti-Yvonnet, a certified public accountant employed with the firm, will receive a flat fee of $4,200 for the preparation of the Debtor's financial statements; $350 for the income tax return; $150 for the Annual Corporative Report; and $250 for the Annual Informative Returns. Ms. Oti-Yvonnet will be paid an hourly rate of $175 for additional services. In a court filing, Ms. Oti-Yvonnet disclosed that she is a "disinterested person" as defined in section 101(14) of the Bankruptcy Code. The firm can be reached through: Aurora Oti-Yvonnet Villafane & Oti, Certified Public Accountants, PSC P.O. Box 70250, Suite 288 San Juan, PR 00936-8250 Phone: (787) 751-8180 Fax: (787) 751-8445 About Oliver C & I Corp. Oliver C & I Corp., based in Guaynabo, Puerto Rico, filed a Chapter 11 petition (Bankr. D.P.R. Case No. 16-08311) on October 17, 2016. The Hon. Mildred Caban Flores presides over the case. Carmen D. Conde Torres, Esq., serves as attorney. In its petition, the Debtor indicated $29.94 million in total assets and $1.06 million in total liabilities. The petition was signed by Max Olivera, vice-president and treasurer. PRINTING AND BIKE: Court Grants Final OK to Disclosure Statement ---------------------------------------------------------------- The Hon. Brian K. Tester of the U.S. Bankruptcy Court for the District of Puerto Rico has finally approved Printing and Bike Corporation's disclosure statement filed on Oct. 14, 2016, referring to the Debtor's Chapter 11 plan. As reported by the Troubled Company Reporter on Oct. 25, 2016, the Debtor filed with the Court a plan of reorganization and accompanying disclosure statement, which propose that the aggregate dividend to general unsecured creditors classified in Class 5 would be fixed in the amount of $5,000, with payments to be distributed pro rata among outstanding and allowed claims. About Printing and Bike Printing and Bike Corporation filed a Chapter 11 petition (Bankr. D.P.R. Case No. 15-10240) on Dec. 24, 2015, estimating less than $1 million in assets and debt. The Debtor is represented by Alexis A. Betancourt Vincentry, Esq., at Lugo Mender Group LLC. VEGA ALTA: U.S. Trustee Directed to Appoint PCO ----------------------------------------------- Judge Mildred Caban Flores of the U.S. Bankruptcy Court for the District of Puerto Rico entered an Order on November 29, 2016, directing the U.S. Trustee to appoint a Patient Care Ombudsman for Vega Alta Community Health, Inc. Judge Flores noted that the Order is due on December 20, 2016, unless the U.S. Trustee and/or the debtor in possession inform the court in writing, within 21 days, why the appointment of an ombudsman is not necessary for the protection of the patients. About Vega Alta Vega Alta Community Health, Inc., based in Catano, PR, filed a Chapter 11 petition (Bankr. D.P.R. Case No. 16-08128) on October 11, 2016. Jaime Rodriguez Perez, at Jaime Rodriguez Law Office, PSC, serves as bankruptcy counsel. In its petition, the Debtor listed $25,582 in assets and $1.47 million in liabilities. The petition was signed by Luis M Gonzalez Bermudez, president. UROTECH INC: Hires Homel Mercado as Attorney -------------------------------------------- UROTECH Inc., seeks authorization from the U.S. Bankruptcy Court for the District of Puerto Rico to employ Homel Mercado Justiniano as attorney. The Debtor requires Homel Mercado to: a. examine the documents of the debtor and other necessary information to submit the Schedules and the Statement of Financial Affairs; b. prepare the Disclosure Statement, Plan of Reorganization, records and reports as required by the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. c. prepare applications and proposed orders to be submitted to the Court; d. identify and prosecute claims and causes of action assert able by the debtor-in-possession on behalf of the estate herein; e. examine proofs of claim filed and file the case herein and object to certain of such claims; f. advise the debtor-in-possession and prepare documents in connection with the ongoing operation of the Debtor's business; g. advise the debtor-in-possession and prepare documents in connection with the liquidation of the assets of the estate, if needed, including analysis and collection of outstanding receivables; h. assist and advise the debtor-in-possession in the discharge of any and all the duties imposed by the applicable dispositions of the Bankruptcy Code and the Federal Rules of Bankruptcy Procedure. Homel Mercado will be paid at these hourly rates: Homel Mercado Justiniano, Esq. $225 Associates $125 Paralegal $50 Homel Mercado received from the Debtor the amount of $15,000.00 for services to be rendered in connection with the litigation of all related matters in the case. Homel Mercado Justiniano, Esq., assured the Court that he 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 Debtor and its estates. Homel Mercado may be reached at: Homel A. Mercado-Justiniano, Esq. Calle Ramirez Silva, Esq. Ensanche Martinez, Esq. HOMEL MERCADO JUSTINIANO Mayaguez, PR 00680-4714 Tel: (787) 831-2577/ 805-2945 Faz: (787) 805-7350 Cel: (787) 364-3188 Email: hmjlaw2@gmail.com About Urotech Inc. Urotech Inc. filed a Chapter 11 bankruptcy petition (Bankr. D.P.R. Case No. 16-09225) on November 21, 2016. Homel Mercado Justiniano, Esq. serves as bankruptcy counsel. The Debtor's assets and liabilities are both below $1 million. ================= X X X X X X X X X ================= * BOND PRICING: For the Week From Dec. 5 to Dec. 9, 2016 --------------------------------------------------------- Issuer Name Cpn Price Maturity Country Curr ----------- --- ----- -------- ------- --- Andino Investment Holding 11 70.85 11/13/2020 PE USD Andino Investment Holding 11 68.88 11/13/2020 PE USD Anton Oilfield Services G 7.5 69.03 11/6/2018 CN USD Anton Oilfield Services G 7.5 66 11/6/2018 CN USD BA-CA Finance Cayman 2 Lt 0.719 38.5 KY EUR BA-CA Finance Cayman Ltd 0.749 38.93 KY EUR Banco do Brasil SA/Cayman 6.25 62.84 KY USD Banco do Brasil SA/Cayman 6.25 59.51 KY USD BPI Capital Finance Ltd 2.29 40 KY EUR CA La Electricidad de Car 8.5 43.75 4/10/2018 VE USD Chile Government Internat 3.625 15.7 10/30/2042 CL USD CSN Islands XI Corp 6.875 61.25 9/21/2019 KY USD CSN Islands XI Corp 6.875 61.13 9/21/2019 KY USD CSN Islands XII Corp 7 48.8 BR USD CSN Islands XII Corp 7 47.75 BR USD Decimo Primer Fideicomiso 4.54 59.75 10/25/2041 PA USD Decimo Primer Fideicomiso 6 71.38 10/25/2041 PA USD Ecuador Government Domest 8.45 70.8 2/6/2034 EC USD Ecuador Government Domest 8.45 69.35 9/10/2034 EC USD Ecuador Government Domest 8.45 70.42 4/2/2034 EC USD Ecuador Government Domest 8.45 69.72 7/17/2034 EC USD Ecuador Government Domest 8.45 69.71 5/30/2034 EC USD Ecuador Government Domest 8.45 69.23 9/30/2034 EC USD Ecuador Government Domest 8.45 70.52 3/19/2034 EC USD Ecuador Government Domest 7.75 74.84 12/19/2028 EC USD Ecuador Government Domest 8.45 69.94 6/12/2034 EC USD Ecuador Government Domest 8.45 69.95 6/11/2034 EC USD Ecuador Government Domest 8.45 69.82 7/1/2034 EC USD Ecuador Government Domest 7.7 73.56 7/1/2029 EC USD Ecuador Government Domest 7.7 72.94 9/10/2029 EC USD Ecuador Government Domest 7.75 74.95 11/8/2028 EC USD Ecuador Government Domest 7.7 73.74 6/11/2029 EC USD Ecuador Government Domest 7.7 73.73 6/12/2029 EC USD Ecuador Government Domest 7.7 72.77 9/30/2029 EC USD Empresa de Telecomunicaci 7 71.24 1/17/2023 CO COP Empresa de Telecomunicaci 7 71.24 1/17/2023 CO COP ESFG International Ltd 5.753 0.883 KY EUR General Exploration Partn 11.5 36.75 11/13/2018 CA USD General Shopping Finance 10 60.55 KY USD General Shopping Finance 10 60.63 KY USD Global A&T Electronics Lt 10 70.88 2/1/2019 SG USD Global A&T Electronics Lt 10 71.88 2/1/2019 SG USD Global A&T Electronics Lt 10 50.5 2/1/2019 SG USD Global A&T Electronics Lt 10 54 2/1/2019 SG USD Glorious Property Holding 13.25 74.56 3/4/2018 HK USD Gol Finance Inc 9.25 47.35 7/20/2020 BR USD Gol Finance Inc 8.75 37.75 BR USD Gol Finance Inc 7.5 61 4/3/2017 BR USD Gol Finance Inc 7.5 59.38 4/3/2017 BR USD Gol Finance Inc 7.5 59.38 4/3/2017 BR USD Gol Finance Inc 9.25 43.38 7/20/2020 BR USD Gol Finance Inc 8.75 36.88 BR USD Green Dragon Gas Ltd 10 63.75 11/20/2017 HK USD Greenfields Petroleum Cor 9 11.35 5/31/2017 US CAD Honghua Group Ltd 7.45 58.25 9/25/2019 CN USD Honghua Group Ltd 7.45 58 9/25/2019 CN USD Inversora Electrica de Bu 6.5 59.5 9/26/2017 AR USD MIE Holdings Corp 7.5 67.25 4/25/2019 HK USD MIE Holdings Corp 7.5 68.58 4/25/2019 HK USD NB Finance Ltd/Cayman Isl 3.38 60.22 2/7/2035 KY EUR Newland International Pro 9.5 24.13 7/3/2017 PA USD Newland International Pro 9.5 25.13 7/3/2017 PA USD Noble Holding Internation 6.2 65.42 8/1/2040 KY USD Noble Holding Internation 6.05 66.38 3/1/2041 KY USD Noble Holding Internation 5.25 64.71 3/15/2042 KY USD Ocean Rig UDW Inc 7.25 57.75 4/1/2019 CY USD Ocean Rig UDW Inc 7.25 55 4/1/2019 CY USD Odebrecht Drilling Norbe 6.35 27 6/30/2021 KY USD Odebrecht Drilling Norbe 6.35 28.5 6/30/2021 KY USD Odebrecht Finance Ltd 7.5 40 KY USD Odebrecht Finance Ltd 4.375 37.23 4/25/2025 KY USD Odebrecht Finance Ltd 7.125 33.5 6/26/2042 KY USD Odebrecht Finance Ltd 5.25 34.5 6/27/2029 KY USD Odebrecht Finance Ltd 5.125 36 6/26/2022 KY USD Odebrecht Finance Ltd 8.25 35 4/25/2018 KY BRL Odebrecht Finance Ltd 7 53.5 4/21/2020 KY USD Odebrecht Finance Ltd 6 41.51 4/5/2023 KY USD Odebrecht Finance Ltd 5.25 36 6/27/2029 KY USD Odebrecht Finance Ltd 4.375 36 4/25/2025 KY USD Odebrecht Finance Ltd 7.125 33.75 6/26/2042 KY USD Odebrecht Finance Ltd 7.5 42.5 KY USD Odebrecht Finance Ltd 8.25 35 4/25/2018 KY BRL Odebrecht Finance Ltd 5.125 35.38 6/26/2022 KY USD Odebrecht Finance Ltd 6 38.88 4/5/2023 KY USD Odebrecht Finance Ltd 7 44 4/21/2020 KY USD Odebrecht Offshore Drilli 6.75 17 10/1/2022 KY USD Odebrecht Offshore Drilli 6.625 17 10/1/2022 KY USD Odebrecht Offshore Drilli 6.75 17.38 10/1/2022 KY USD Odebrecht Offshore Drilli 6.625 17.38 10/1/2022 KY USD Petroleos de Venezuela SA 5.25 67.5 4/12/2017 VE USD Petroleos de Venezuela SA 12.75 56.1 2/17/2022 VE USD Petroleos de Venezuela SA 9 49.38 11/17/2021 VE USD Petroleos de Venezuela SA 9.75 44.57 5/17/2035 VE USD Petroleos de Venezuela SA 6 38.5 5/16/2024 VE USD Petroleos de Venezuela SA 6 36.75 11/15/2026 VE USD Petroleos de Venezuela SA 5.375 37 4/12/2027 VE USD Petroleos de Venezuela SA 5.5 36.75 4/12/2037 VE USD Petroleos de Venezuela SA 6 32.13 10/28/2022 VE USD Petroleos de Venezuela SA 6 36.4 11/15/2026 VE USD Petroleos de Venezuela SA 6 35.35 5/16/2024 VE USD Petroleos de Venezuela SA 9.75 41.7 5/17/2035 VE USD Petroleos de Venezuela SA 9 45.25 11/17/2021 VE USD Petroleos de Venezuela SA 12.75 46.15 2/17/2022 VE USD Polarcus Ltd 5.6 44.93 3/30/2022 AE USD Provincia de Rio Negro 1.6148 62 5/4/2024 AR ARS PSOS Finance Ltd 11.75 60.13 4/23/2018 KY USD Republic of Ecuador Minis 8.45 69.22 9/30/2034 EC USD Republic of Ecuador Minis 7.75 74.88 12/19/2028 EC USD Republic of Ecuador Minis 7.7 73.6 7/1/2029 EC USD Republic of Ecuador Minis 7.75 74.99 11/8/2028 EC USD Republic of Ecuador Minis 8.45 69.22 9/30/2034 EC USD Republic of Ecuador Minis 7.7 73.77 6/12/2029 EC USD Republic of Ecuador Minis 8.45 69.39 9/10/2034 EC USD Republic of Ecuador Minis 8.45 69.75 7/17/2034 EC USD Republic of Ecuador Minis 8.45 69.39 9/10/2034 EC USD Republic of Ecuador Minis 7.7 72.81 9/30/2029 EC USD Republic of Ecuador Minis 7.7 73.78 6/11/2029 EC USD Republic of Ecuador Minis 7.7 73.6 7/1/2029 EC USD Republic of Ecuador Minis 8.45 69.98 6/11/2034 EC USD Republic of Ecuador Minis 8.45 69.98 6/11/2034 EC USD Republic of Ecuador Minis 7.7 73.77 6/12/2029 EC USD Republic of Ecuador Minis 7.7 72.99 9/10/2029 EC USD Republic of Ecuador Minis 8.45 69.97 6/12/2034 EC USD Republic of Ecuador Minis 7.75 74.88 12/19/2028 EC USD Republic of Ecuador Minis 8.45 70.84 2/6/2034 EC USD Republic of Ecuador Minis 8.45 70.55 3/19/2034 EC USD Republic of Ecuador Minis 8.45 69.85 7/1/2034 EC USD Republic of Ecuador Minis 8.45 70.45 4/2/2034 EC USD Republic of Ecuador Minis 7.7 72.81 9/30/2029 EC USD Republic of Ecuador Minis 8.45 69.75 7/17/2034 EC USD Republic of Ecuador Minis 8.45 69.74 5/30/2034 EC USD Republic of Ecuador Minis 8.45 69.97 6/12/2034 EC USD Republic of Ecuador Minis 7.75 74.99 11/8/2028 EC USD Republic of Ecuador Minis 8.45 69.85 7/1/2034 EC USD Republic of Ecuador Minis 8.45 70.45 4/2/2034 EC USD Republic of Ecuador Minis 8.45 69.74 5/30/2034 EC USD Republic of Ecuador Minis 7.7 73.78 6/11/2029 EC USD Republic of Ecuador Minis 8.45 70.84 2/6/2034 EC USD Republic of Ecuador Minis 7.7 72.99 9/10/2029 EC USD Republic of Ecuador Minis 8.45 70.55 3/19/2034 EC USD Samarco Mineracao SA 4.125 37.25 11/1/2022 BR USD Samarco Mineracao SA 5.75 36.6 10/24/2023 BR USD Samarco Mineracao SA 5.375 35.38 9/26/2024 BR USD Samarco Mineracao SA 4.125 37.38 11/1/2022 BR USD Samarco Mineracao SA 5.75 39.63 10/24/2023 BR USD Samarco Mineracao SA 5.375 37.25 9/26/2024 BR USD Siem Offshore Inc 5.69 52.25 1/30/2018 NO NOK Siem Offshore Inc 5.49 51.75 3/28/2019 NO NOK Transocean Inc 5.05 74.75 10/15/2022 KY USD Transocean Inc 6.8 63.66 3/15/2038 KY USD Transocean Inc 7.5 65.78 4/15/2031 KY USD Transocean Inc 9.1 70.41 12/15/2041 KY USD Transocean Inc 7.45 74.9 4/15/2027 KY USD Transocean Inc 8 73.55 4/15/2027 KY USD Uruguay Notas del Tesoro 5.25 61.99 12/29/2021 UY UYU US Capital Funding IV Ltd 0.99305 43.92 12/1/2039 KY USD US Capital Funding IV Ltd 0.99305 43.92 12/1/2039 KY USD Venezuela Government Inte 9.25 49.03 9/15/2027 VE USD Venezuela Government Inte 11.75 49.5 10/21/2026 VE USD Venezuela Government Inte 11.95 49.5 8/5/2031 VE USD Venezuela Government Inte 7.75 47.38 10/13/2019 VE USD Venezuela Government Inte 13.625 65.25 8/15/2018 VE USD Venezuela Government Inte 9.375 45.85 1/13/2034 VE USD Venezuela Government Inte 7 52.85 12/1/2018 VE USD Venezuela Government Inte 7 42 3/31/2038 VE USD Venezuela Government Inte 9 45.5 5/7/2023 VE USD Venezuela Government Inte 9.25 45.5 5/7/2028 VE USD Venezuela Government Inte 8.25 44.38 10/13/2024 VE USD Venezuela Government Inte 6 43.5 12/9/2020 VE USD Venezuela Government Inte 13.625 56.5 8/15/2018 VE USD Venezuela Government Inte 7.65 43.25 4/21/2025 VE USD Venezuela Government Inte 13.625 59.69 8/15/2018 VE USD Venezuela Government Inte 12.75 53.5 8/23/2022 VE USD Venezuela Government TICC 5.25 53.23 3/21/2019 VE USD VRG Linhas Aereas SA 10.75 25.63 2/12/2023 BR USD VRG Linhas Aereas SA 10.75 25.63 2/12/2023 BR USD XLIT Ltd 6.5 70 IE USD *********** 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 2016. 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 * * *