/raid1/www/Hosts/bankrupt/TCRLA_Public/180802.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
Thursday, August 2, 2018, Vol. 19, No. 152
Headlines
B R A Z I L
EMBRAER SA: Posts Q2 Loss as Sales Declined, Expenses Rose
C O L O M B I A
* COLOMBIA: Lawmaker Accuses Uribe of Tricks, Vows Legal Action
D O M I N I C A N R E P U B L I C
DOMINICAN REPUBLIC: Simultaneous Primaries Would Cost US$100MM
E C U A D O R
ECUADOR: Illegal Mining Causing Incalculable Harm
J A M A I C A
JAMAICA: Laws Governing BOJ Operations to be Tabled in Parliament
M E X I C O
GRUPO SENDA: S&P Cuts ICR to 'D' on Planned Bankruptcy Filing
P U E R T O R I C O
IGLESIA CASA DE ADORACION: Taps CPA Luis Cruz Lopez as Accountant
INTRADE LOGISTICS: Hires Charles A Cuprill PSC as Counsel
INTRADE LOGISTICS: Taps Carrasquillo & Co. as Financial Consultant
T R I N I D A D & T O B A G O
CARIBBEAN CEMENT: Net Profit Ups to J$704MM in April-June Qtr.
V E N E Z U E L A
VENEZUELA: Maduro Recognizes Responsibility for Economic Crisis
- - - - -
===========
B R A Z I L
===========
EMBRAER SA: Posts Q2 Loss as Sales Declined, Expenses Rose
----------------------------------------------------------
The Latin American Herald reports that Brazilian aircraft maker
Empresa Brasileira de Aeronautica SA (Embraer) reported a net loss
in the second quarter as sales declined, financial expenses rose
and the Brazilian currency weakened.
The company posted a loss of $126.5 million in the quarter, after
earning a $61.7 million gain a year before, the company said,
according to The Latin American Herald. Embraer had revenue of
$1.26 billion in the period, a decline from the same period a year
earlier, the report notes.
The report relays that EBITDA fell to $44.1 million in the second
quarter, from $258.3 million in the year-ago period, Embraer said.
The company reaffirmed its financial and delivery guidance for
2018, the report relays.
The company reported delivery of 28 commercial jets and 20
executive jets in the three months through June, compared with 35
commercial jets and 24 executive jets in the second quarter of
2017, the report recalls.
Earlier this month, Embraer and Boeing announced the U.S.
planemaker is buying 80 percent of Embraer's commercial aircraft
business for $4.75 billion, the report says. Since the deal was
announced, the company's shares have declined by about 30 percent,
the report notes.
The report discloses that the proposed plan faces some uncertainty
because Brazil's government has veto power over the deal and the
country will hold presidential elections in October, though
company officials have said they expect it to be approved.
Chief Financial Officer Nelson Salgado said during a conference
call that negotiations on the contracts for the deal are advancing
quickly and that the details announced in early July, including
the price, are those being used in the talks and won't be changed
because of the stock price decline, the report says.
Created by Brazil's military government in 1969, Embraer has gone
from an unprofitable state company to the world's third-biggest
producer of commercial jets, the report adds.
About Embraer SA
Headquartered in Brazil, Empresa Brasileira de Aeronautica SA
(Embraer) -- http://www.embraer.com-- is a company engaged in the
manufacture of aircrafts for commercial aviation, executive jet
and defense and government purposes. The Company has developed a
line of executive jets based on one of its regional jet platforms
and launched executive jets in the entry-level, light, ultra-large
and mid-light/mid-size categories, the Phenom 100/300 family, the
Lineage 1000 and the Legacy 450/500 family, respectively. The
Company supplies defense aircraft for the Brazilian Air Force
based on number of aircraft sold, and sells aircraft to military
forces in Europe, Asia and Latin America. In July 2008, the
Company acquired a 40% interest owned by Liebherr Aerospace SAS in
ELEB Equipamentos Ltda (ELEB). ELEB is an aerospace system and
component manufacturer, and its products include landing gear
systems, hydraulics and electro-mechanical sub-assemblies, such as
actuators, valves, accumulators and pylons.
* * *
As reported in the Troubled Company Reporter-Latin America on
Apr 30, 2018, a class action against Embraer was recently
dismissed by U.S. District Judge Richard Berman. The class
action, which was brought in federal district court in New York,
alleged that the firm had failed to adequately disclose the scope
and possible financial impact of ongoing corruption investigations
by the DOJ and SEC, harming the company's investors.
In September 2016, the TCRLA reported that Embraer confirmed that
it would cut nearly 8 percent of its workforce through a voluntary
buyout program, slashing costs amid weak business jet sales and
downsized defense contracts.
The TCRLA further reported that Egan-Jones Ratings Company, on
Sept. 23, 2016, lowered the senior unsecured ratings on debt
issued by Embraer SA to BB+ from BBB-.
===============
C O L O M B I A
===============
* COLOMBIA: Lawmaker Accuses Uribe of Tricks, Vows Legal Action
---------------------------------------------------------------
The Latin American Herald reports that a leftist Colombian
lawmaker said that right-wing former President Alvaro Uribe is
orchestrating a smear campaign against the senator and the
country's Supreme Court to sidetrack an investigation.
Sen. Ivan Cepeda told a press conference in Bogota that he plans
to sue journalists Gustavo Rugeles and Fernando Londono for
claiming that he and senior officials of the current conservative
government bribed Supreme Court judges to pursue the probe against
Uribe, according to The Latin American Herald.
Though Mr. Rugeles and Mr. Londono cited an intelligence report as
the source for their allegations, Mr. Cepeda said that Defense
Minister Luis Carlos Villegas assured him that no such report
exists, the report notes.
The senator also said that they will investigate "what is the role
of ex-President Uribe" in this "campaign," since the former chief
executive re-tweeted the report about the alleged bribery, the
report relays.
The report discloses that Mr. Cepeda said he will appeal to the
Inter-American Court for Human Rights "to ask for guarantees of
independence and protection for the Supreme Court judges and
request protective measures for ourselves."
The Supreme Court said that it was suspending the investigation of
Uribe pending the outcome of an attempt to force several judges to
recuse themselves for ostensible bias against the former
president, the report relays.
The report adds that Mr. Uribe, who was president between 2002 and
2010, was being investigated for witness tampering in a case
brought by Cepeda.
The story goes back to 2012, when Mr. Uribe accused Mr. Cepeda of
trying to find demobilized paramilitaries willing to testify that
the former president had connections to the militias while serving
as governor of his native province of Antioquia, the report
recalls.
But the Supreme Court not only exonerated Mr. Cepeda, it concluded
there were grounds to scrutinize Mr. Uribe's conduct, the report
adds.
===================================
D O M I N I C A N R E P U B L I C
===================================
DOMINICAN REPUBLIC: Simultaneous Primaries Would Cost US$100MM
--------------------------------------------------------------
Dominican Today reports that Central Electoral Board President,
Julio Cesar Castanos Guzman said to hold simultaneous primaries,
there must first be a consensus since in his view, this will cost
RD$5.0 billion (US$100.0 million).
He cautioned that experts consulted said the primary costs the
same as a general election and cited the JCE's debts as another
hurdle, according to Dominican Today.
"The Junta is still begging for money and struggling with
disgruntled people who have not been paid, we owe COP900 million
and we have paid COP 1.5 billion," he said, the report notes.
The report relays that he cautioned that to sage an election with
the hundreds of deputies, mayors and 1,164 other elective
positions is a daunting challenge.
Regret
Mr. Castanos said he regrets that the lack of agreements has
prevented the approval of the Electoral and Parties Law, the
report adds.
As reported in the Troubled Company Reporter-Latin America on
July 19, 2018, Fitch Ratings assigned a 'BB-' rating to
Dominican Republic's USD1.3 billion bonds, maturing July 2028. The
notes have a coupon of 6%. Proceeds from the issuance will be
used for general purposes of the government, including the partial
financing of the 2018 budget.
=============
E C U A D O R
=============
ECUADOR: Illegal Mining Causing Incalculable Harm
-------------------------------------------------
EFE News reports that illegal mining in Ecuador causes
incalculable harm to the environment and the economy, and the
administration of President Lenin Moreno is determined to tackle
the problem, the deputy mining minister said.
"The environmental damage plus the raw materials mined add up to
more than $200 million every three to six months," Henry Troya
said when speaking of a recent case of that illicit activity in
Buenos Aires, according to EFE News.
In late 2017, the word came out about the existence of a gold
deposit in the La Merced parish of Buenos Aires in the northern
province of Imbabura, and miners from all over the country poured
in, doubling and even tripling the local population, the report
recalls.
Several years ago, Ecuador pronounced such illegal mining to be
the crime of looting state resources and since then has taken
measures to prevent it with regular security force operations, the
report notes.
"These organized mafias (are related to) drug trafficking, asset
laundering, human trafficking, illegal arms and tax evasion over
the border," Mr. Troya said about those engaged in or promoting
illegal mining, the report relays.
Added to the economic and social harm done are the high levels of
soil and water pollution due to the use of mercury in gold mining,
deforestation and other effects that can threaten the survival of
nearby communities, the report says.
The Ecuadorian government created a Specialized Council in the
Interior Ministry, which also has representatives of the military,
police, the Attorney General's Office and the Mining and
Environment Ministry, the report notes.
"This illegal mining hurts all of us because it pays no taxes and
the workers aren't unionized. It ought to be fined and
abolished," the head of the Chamber of Mines, Santiago Yepez, told
EFE.
The report says that Ecuador is attempting to make mining a force
for national development and expects its contribution to the
nation's GDP to grow from a mere 1.3 percent in 2017 to more than
4 percent in 2021.
As a result, the nation now offers more projects to large
investment consortia, but has also launched a process of
legalizing artisanal, or small-scale, mining, the report
discloses.
Artisanal mining, which dates from time immemorial in the Andean
region, is allowed under Ecuadorian law as long as it is limited
to "extracting minerals whose sale earns only enough to cover the
basic needs of the person or family group that does the mining,"
the report adds.
As reported in the Troubled Company Reporter-Latin America on
June 1, 2018, S&P Global Ratings, on May 29, 2018, affirmed its
'B-/B' long- and short-term foreign and local currency sovereign
credit ratings on Ecuador. The outlook remains stable.
In addition, S&P affirmed its 'B-' transfer and convertibility
(T&C) assessment for Ecuador.
=============
J A M A I C A
=============
JAMAICA: Laws Governing BOJ Operations to be Tabled in Parliament
-----------------------------------------------------------------
RJR News reports that cabinet-approved amendments to several laws
governing Bank of Jamaica (BOJ) operations to make it more
independent are expected to be tabled in Parliament in October.
This was disclosed by Finance Minister, Dr. Nigel Clarke, who said
the proposed amendments relate to the Bank of Jamaica Act, Banking
Services Act, and the Public Bodies Management and Accountability
Act, according to RJR News.
The report notes that Mr. Clarke was delivering a special policy
address on the BOJ's modernisation to a wide cross section of
stakeholders at The Jamaica Pegasus hotel.
The report relays that Mr. Clarke said the changes are intended to
enhance the BOJ's governance structure through clear demarcation
and assignment of roles for policy decision-making and daily
management.
Mr. Clarke noted that under the proposed reforms, the Finance
Minister will no longer have the ability to give directions on
monetary policy, thereby giving the Central Bank greater autonomy
and making the entity operationally independent, the report notes.
This will involve strengthening existing statutory committees and
establishing new ones, the report says.
The report relays that the Finance minister also disclosed that
under the proposed reform the Central Bank Governor will be
required to submit policy statements on the BOJ's performance to
Parliament and to publish these at least every six months, or more
often if so directed or determined.
Additionally, the Governor will be required to appear before
Parliament at scheduled intervals to present monetary policy
updates and answer questions, the report notes.
The report discloses that Mr. Clarke said other key reforms
designed to strengthen the BOJ's independence include measures to
ensure that the tenure of board members is long enough to
facilitate their own independent inputs in monetary policy
proceedings; and developing sufficient expertise and capabilities
to enable directors to successfully discharge their functions.
As reported in the Troubled Company Reporter-Latin America on
Feb. 5, 2018, Fitch Ratings affirmed Jamaica's Long-Term
Foreign-Currency Issuer Default Rating (IDR) at 'B' and has
revised the Rating Outlook to Positive from Stable.
===========
M E X I C O
===========
GRUPO SENDA: S&P Cuts ICR to 'D' on Planned Bankruptcy Filing
-------------------------------------------------------------
S&P Global Ratings lowered its global and national scale issuer
credit ratings on Grupo Senda Autotransportes S.A. de C.V. (Senda)
to 'D' from 'SD'. At the same time, we affirmed our issue-level
rating on the company's short-term unsecured notes program at 'D'.
The downgrade follows the company's recent announcement that it's
filing for bankruptcy protection to face its liquidity problems
and continue its operations. The downgrade also reflects the
recent announcement that the company will miss the payment of
interest on its outstanding short-term issues with tickers SENDA
00118, SENDA 00218, and SENDA 00318.
S&P said, "We're not aware that Senda has failed to make payments
on its other debt. However, Mexico's bankruptcy laws (Concurso
Mercantil) require Senda to stop making payments to creditors and
lenders. Consequently, this will result in the company defaulting
on all of its financial liabilities. Thus, we are now placing all
the ratings on 'D'.
"In our view, the failure to make the payments, along with the
bankruptcy filing, reflects the deterioration of the company's
liquidity position in 2018, stemming from sizable short-term debt
maturities, lower cash flow generation that has weakened its cash
balance, and delays in debt refinancing."
======================
P U E R T O R I C O
======================
IGLESIA CASA DE ADORACION: Taps CPA Luis Cruz Lopez as Accountant
-----------------------------------------------------------------
Iglesia Casa de Adoracion Jabes International, Inc., seeks
approval from the U.S. Bankruptcy Court for the District of Puerto
Rico to employ Luis Cruz Lopez, CPA, as accountant.
The professional services of Luis Cruz Lopez, C.P.A., is to render
are:
a. supervise the accounting affairs of Debtor In Possession
and its operations;
b. provide bookkeeping;
c. prepare and/or review Debtor's monthly operating reports,
as well as any other accounting reports necessary for the proper
administration of the estate;
d. prepare and/or review state and/or federal income tax and
property tax returns, as required by law; and
e. prepare the projections and all other analysis required
for
the proposal and confirmation of a Chapter 11 Plan.
Luis Cruz Lopez, C.P.A., will charge a monthly rate of $150.00 per
hour plus the reimbursement of expenses and at
$75.00 an hour for Staff Accountant Services.
Luis Cruz Lopez, CPA, attests that he is a "disinterested person",
as said term is defined in 11 U.S.C. Sec. 101(14), and does not
represent any creditor in this case, nor any interested party, nor
anyone acting on their behalf, whose interest may be adverse to
the debtors' estate; he has no connection with the Debtors In
Possession, nor with their attorneys, nor with the US Trustee, or
any person employed in any capacity with the office of the US
Trustee in any office in or outside the continental United States.
The accountant can be reached through:
Luis Cruz Lopez, C.P.A.
CPA LUIS CRUZ LOPEZ, P.S.C.
172 La Coruna, Cuidad Jardin
Caguas, PR 00727-1354
Phone: 787-703-2552
About Iglesia Casa de Adoracion
Iglesia Casa de Adoracion Jabes International, Inc., is a
religious organization based in Bayamon, Puerto Rico. Iglesia
Casa sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. P.R. Case No. 18-03374) on June 15, 2018. In the
petition signed by Nixon Cruz Rivera, president, the Debtor
estimated assets of $1 million to $10 million and liabilities of
$1 million to $10 million. Judge Mildred Caban Flores presides
over the case.
INTRADE LOGISTICS: Hires Charles A Cuprill PSC as Counsel
--------------------------------------------------------
Intrade Logistics Corp. seeks authority from the United States
Bankruptcy Court for the District of Puerto Rico (Old San Juan) to
employ Charles A. Cuprill Hernandez, Esq. and Charles A. Cuprill
Hernandez, PSC Law Offices as counsel.
Cuprill will bill on the basis of $350 per hour plus expenses for
work performed by Charles A. Curpill-Hernandez, $250 per hour for
associates and $85 for paralegals.
Charles A. Cuprill Hernandez, Esq., a principal at the firm,
attests attests that his firm is a disinterested entity as defined
in 11 U.S.C. Sec. 101(14).
The counsel can be reached through:
Charles A. Cuprill Hernandez, Esq.
CHARLES A CURPILL, PSC LAW OFFICES
356 Calle Fortaleza
Second Floor
San Juan, PR 00901
Tel: 787 977-0515
E-mail: ccuprill@cuprill.com
About Intrade Logistics Corp.
Headquartered in Toa Baja, Puerto Rico, Intrade Logistics Corp. is
in the wine and distilled beverages business.
Intrade Logistics Corp. filed a Chapter 11 Petition (Bankr. D.P.R.
Case No. 18-03828) on July 5, 2018. In the petition signed by
Rolando Fernandez, president, the Debtor disclosed $1.13 million
in assets and $1.88 million in liabilities. CHARLES A CURPILL,
PSC LAW OFFICES, led by principal Charles A. Cuprill Hernandez, is
the Debtor's counsel.
INTRADE LOGISTICS: Taps Carrasquillo & Co. as Financial Consultant
------------------------------------------------------------------
Intrade Logistics Corp. seeks authority from the United States
Bankruptcy Court for the District of Puerto Rico (Old San Juan) to
employ CPA Luis R. Carrasquillo & Co., P.S.C., as financial
consultant.
The duties of Carrasquillo will consist of strategic counseling
and advice, pro forma modeling preparation, financial/business
assistance, preparation of documentation as requested for and
during Debtor's Chapter 11, as well as recommendations and
financial/business assessments regarding issues related to Debtor.
The Firm's standard billing rates are:
Name Title Hourly Rate
---- ----- -----------
CPA Luis R. Carrasquillo Partner $175
CPA Marcelo Gutierrez Senior CPA $125
Lionel Rodriguez Perez Sr. Accountant $90
Carmen Callejas Echevarria Sr. Accountant $85
Kelvin Cabezudo Sr. Accountant $80
Zoraida Delgado Diaz Jr. Accountant $45
Karina Mejias Admin Support $45
Maricruz Mangual Support $45
Iris L. Franqui Admin Support $45
CPA Luis R. Carrasquillo, principal at CPA Luis R. Carrasquillo &
Co., P.S.C., attests that he and members of his firm are
disinterest persons, as defined in 11 U.S.C. Sec.101(14).
The consultant can be reached through:
CPA Luis R. Carrasquillo
CPA Luis R. Carrasquillo & Co., P.S.C.
28th St. TI-26, Turabo Gardens Avenue
Caguas, PR 00725
Phone: 787-746-4555/787-746-4556
Fax: 787-746-4564
About Intrade Logistics Corp.
Headquartered in Toa Baja, Puerto Rico, Intrade Logistics Corp. is
in the wine and distilled beverages business.
Intrade Logistics Corp. filed a Chapter 11 Petition (Bankr. D.P.R.
Case No. 18-03828) on July 5, 2018. In the petition signed by
Rolando Fernandez, president, the Debtor disclosed $1.13 million
in assets and $1.88 million in liabilities. CHARLES A CURPILL,
PSC LAW OFFICES, led by principal Charles A. Cuprill Hernandez, is
the Debtor's counsel.
===============================
T R I N I D A D & T O B A G O
===============================
CARIBBEAN CEMENT: Net Profit Ups to J$704MM in April-June Qtr.
--------------------------------------------------------------
RJR News reports that Caribbean Cement Company Limited is
reporting that net profit for the April to June quarter rose to
J$704 million.
That was up from $629 million during the same period last year,
according to RJR News.
Revenues rose by 11 per cent to $4.4 billion, the report notes.
The cement supplier raked in $8.8 billion in revenue for the first
six months which represented an increase of 9 per cent over the
corresponding period last year, the report adds.
* * *
As reported in the Troubled Company Reporter-Latin America on
Aug. 18, 2014, RJR News disclosed that Caribbean Cement said it
racked up a loss of $89 million in the three months to the end of
June, compared to a $359 million profit in the corresponding
period a year ago. The report noted that Caribbean Cement said
the loss was due to the shutdown of a clinker line to facilitate
maintenance work.
According to a TCR-LA report on Aug. 7, 2013, RJR News related
that Caribbean Cement Company Limited suffered a consolidated loss
of J$137 million for the first six months of 2013 down from J$1.2
billion during the corresponding period last year, according to
RJR News. The report related that the loss resulted from J$701
million of non-cash foreign exchange losses compared to J$136
million in 2012.
=================
V E N E Z U E L A
=================
VENEZUELA: Maduro Recognizes Responsibility for Economic Crisis
---------------------------------------------------------------
EFE News reports that Venezuela's president recognized his
"responsibility" for the economic crisis in the country and said
that he needs two years to achieve an economic recovery with a
"high level of stability."
"The productive models that we have tried so far have failed, and
the responsibility is ours. It is mine," Nicolas Maduro said in a
working session of the IV Congress of the ruling United Socialist
Party of Venezuela, according to EFE News.
Despite its enormous resources, Venezuela is going through a
severe economic crisis that has descended into a nationwide
shortage of basic foods and medicines as well as deficient public
services, the report notes.
The report discloses that the country is also facing
hyperinflation that the International Monetary Fund (IMF)
estimates will reach 1 million percent in 2018.
The Venezuelan government frequently blames the bad performance of
its economy on a war led by the United States together with
internal and regional opposition, the report says.
The report notes that Mr. Maduro asked his ministers to change
their attitude.
"The imperialism assaults us? Enough of whining (. . . ) . You
will not see me whining to myself. I do not blame them anymore.
You do not see me whining in front of imperialism. Let them
attacks us. It is up to us whether to act with aggression or
without aggression," he added, the report relays.
To tackle the crisis, Mr. Maduro announced last week a series of
measures that include cutting five zeros off the Bolivar
banknotes, revising the law regulating exchange activities, taking
records of the vehicle fleet in the country to promote a "rational
use" of gasoline, as well as levying more taxes on the import of
capital goods, the report discloses.
The president said that there are many things that he needs to
further manage in this recovery program, which he expects will
show "the first symptoms of new prosperity" in two years, the
report relays.
The report notes that Mr. Maduro then asked the party for support
in spreading the information among communities.
Analysts consulted by EFE said that Maduro's recovery plan is
"insufficient" as it does not include international financial aid.
Mr. Maduro insisted that "Venezuela has everything to be a middle
power in the Latin American context" and confirmed that his
government has the goal of raising oil production, the main engine
of Venezuela's economy, to 6 million barrels per day, the report
relays.
Mr. Maduro said that stopping the economy's dependency on oil
exports does not mean that his government would not develop the
oil industry at the highest level, the report notes.
According to the latest report from the Organization of the
Petroleum Exporting Countries, which was written based on
secondary sources, Venezuela produces only 1.39 million barrels
per day, the report says.
The Venezuelan government said in mid-July that its average
production during the first half of 2018 was 1.57 million barrels
per day and that it had managed to "stop the decline" in oil
pumping, the report adds.
As reported in the Troubled Company Reporter-Latin America on
June 1, 2018, S&P Global Ratings, on May 29, 2018, removed its
long- and short-term local currency sovereign credit ratings on
Venezuela from CreditWatch with negative implications and affirmed
them at 'CCC- /C'. The outlook on the long-term local currency
rating is negative. At the same time, S&P affirmed its 'SD/D'
long- and short-term foreign currency sovereign credit ratings on
Venezuela. S&P's transfer and convertibility assessment remains at
'CC'.
***********
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, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.
Copyright 2018. 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.
.
* * * End of Transmission * * *