TCRLA_Public/011008.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, October 8, 2001, Vol. 2, Issue 196

                           Headlines



A R G E N T I N A

AEROLINEAS ARGENTINAS: To Resume Brazilian Route


B O L I V I A

LAB: President Seeks Capital, Denies Imminent Liquidity Crisis


B R A Z I L

CVRD: Signs Contract with Bolero.Net For Interbank Documentation
CVRD: May Divest Of Domestic Aluminum Producer Valesul
GLOBO CABO: Parent Seeks Partner To Reduce Heavy Debt Burden
GLOBO CABO: Shares Rise On Sale Speculation
MOULINEX: Canadian Firm's Last Minute Bid Deemed Mysterious


C H I L E

EDELNOR: AES Re-Extends Sr. Loan Purchase Offer Expiration Date
ENAMI: No Bidders Show, Delta Auction Postponed
WACKENHUT CHILE: Wackenhut Corp Steps In With Standby LOC's


C O L O M B I A

SEVEN SEAS: Announces Record Date for Rights Offering


M E X I C O

AEROMEXICO/MEXICANA: Fitch Puts Ticket Receivables On Watch Neg
AEROMEXICO/MEXICO: Gets No Financial Assistance From Government
BANCO ATLANTICO: Bital Reaches Deal With IPAB Over Purchase
CORPORACION GEO: Shares Up 6.3% Following Bond Sale
GAM: Government Action Seen As Unsettling To Foreign Investors
GRUPO DESC: Shares Rise Following Debt Payment Announcement


N I C A R A G U A

ENITEL: Buyer Seeks Extension Of Payment Deadline


T R I N I D A D   &   T O B A G O

BWIA: Seeking Financial Aid From Government To Cover Losses
BWIA: Seen Imposing Surcharge To Make Up For Losses

       - - - - - - - - - - -


=================
A R G E N T I N A
=================

AEROLINEAS ARGENTINAS: To Resume Brazilian Route
------------------------------------------------
For the past six months Aerolineas Argentinas has operated only
20 percent of its routes after grounding 14 airplanes due to
financial difficulties. However, the company announced it will
resume its route to Brazil, Gazeta Mercantil reported Wednesday.
The airline will face competition with Varig and TAM, which had
planned to expand their number of flights to Argentina. However,
Aerolineas, Varig, and TAM will be benefited by the suspension of
Swissair's operations, which had also offered regular flights to
Argentina.

Spanish group Marsans, which recently purchased Aerolineas
Argentinas and subsidiary Austral, declared their "full
commitment to the future" of both companies and guaranteed their
growth and "labor stability."

"Although the time periods, business plans and changes in
Aerolineas Argentinas and Austral will be made known once the
status and condition of the companies is evaluated, the Marsans
group wishes to confirm that their objectives are, and will be,
to assure the development and growth of both," Marsans said in a
statement.



=============
B O L I V I A
=============

LAB: President Seeks Capital, Denies Imminent Liquidity Crisis
--------------------------------------------------------------
Fernando Salazar-Paredes, president of the Bolivian national
airline Lloyd Aereo Boliviano (LAB), requested the airline's
principal shareholders fund an immediate capital increase of $20
million to help the airline survive the current domestic and
global crisis, Air Transport Intelligence related October 1.
However, Salazar denied LAB is facing an imminent liquidity
crisis.

"Our debt load of $57 million is perfectly under control, our
annual sales of $160 million are more than sufficient to pay our
debts," he says.

Half of LAB's shares are owned by Brazilian airline VASP which,
due to its own problems, is very unlikely to be able to supply
any fresh cash. The Bolivian carrier recently announced a
significant cost-cutting program, which included dropping routes
to Cusco, Bogota, Caracas, and Havana, as well as the Northern
Argentinean cities of Salta and Tucuman.

"LAB has always prioritized international routes while our most
profitable routes are the domestic ones. We are now inverting
this - eliminating money-losing international routes to reinforce
our domestic network," Salazar said.



===========
B R A Z I L
===========

CVRD: Signs Contract with Bolero.Net For Interbank Documentation
----------------------------------------------------------------
In a company press release, Companhia Vale do Rio Doce (NYSE:
RIOpr) (CVRD) announced it has signed a contract with Bolero.Net,
a subsidiary of S.W.I.F.T. (Society for Worldwide Interbank
Financial Telecommunication), the largest world provider of
interbank communications and transfer services. Through
Bolero.Net, companies are allowed to perform electronic exchange
of a large array of documents, such as purchase orders, letters
of credit, invoices and insurance policies.

CVRD is always seeking to utilize the best available technologies
in the world to increase efficiency and the quality and security
of the services rendered to clients. A speedy and efficient
information flow throughout the supply chain reflects CVRD's
commitment to achieve these goals.

CONTACT:  Roberto Castello Branco: castello@cvrd.com.br
          +55-21-3814-4540

          Andreia Reis: andreis@cvrd.com.br
          +55-21-3814-4643

          Barbara Geluda: geluda@cvrd.com.br
          +55-21-3814-4557
         
          Daniela Tinoco: daniela@cvrd.com.br
          +55-21-3814-4946


CVRD: May Divest Of Domestic Aluminum Producer Valesul
------------------------------------------------------
CVRD (Companhia Vale do Rio Doce) president, Roger Agnelli,
announced that the company may divest itself of control of the
primary aluminum producer, Valesul, Valor Economico reported.
CVRD holds 54.5 percent of Valesul, which produces mainly for the
domestic market, and CVRD's production is aimed at exports.
Divestment, according to the president, could come possibly by
means of share trades and partnerships. Valesul's major customer,
the Norsk-Hydro do Brasil holding company, has expressed interest
in the possibility of the CVRD divestiture.


GLOBO CABO: Parent Seeks Partner To Reduce Heavy Debt Burden
------------------------------------------------------------
Organizacoes Globo, Latin America's largest media group, is on
the hunt for a strategic partner for Globo Cabo, Brazil's No. 1
cable television company, Bloomberg reported Thursday. However,
Roberto Ireneu Marinho, the group's chairman, revealed in a
statement published by the Sao Paulo stock exchange that
negotiations are still at an early stage.

The sale of the stake is likely to help the group reduce its debt
burden. But some investors believe a sale of Globo Cabo may not
help the cable operator cut costs and achieve profitability, as a
weaker real increases payments on the company's 1.7 billion reais
in debt, most of which is denominated in U.S. dollars.

"I don't think this stake sale would change the fundamentals of
the company," said Lucio Graccho, equity trading director at HSBC
Brazilian Asset Management in Sao Paulo. "The company has a lot
of debt that is highly exposed to the U.S. dollar, its cash flow
isn't large enough to sustain the debt and it has had
disappointing results the past quarters."

Globo holds a 57-percent voting stake in Globo Cabo. Other
shareholders in the cable operator include Brazil's Bradespar SA,
with a 17.5 percent voting stake, state development bank BNDES,
with 8 percent of the common shares, and Microsoft Corp., with
8.6 percent.


GLOBO CABO: Shares Rise On Sale Speculation
-------------------------------------------
Shares in Globo Cabo SA rose 3.5 percent Thursday on optimism
Organizacoes Globo may give up control in the cable company,
according to a report in Bloomberg. Globo Cabo shares rose to 59
centavos, after rising as much as 7 percent earlier in the day.

"Speculation about this stake sale may help Globo Cabo shares in
the short-term," said Helio Ozaki, who manages $10 million in
equities at Finambras Corretora in Sao Paulo.

Globo Cabo shares have fallen 72 percent this year, compared with
a 33 percent decline in the benchmark index.


MOULINEX: Canadian Firm's Last Minute Bid Deemed Mysterious
-----------------------------------------------------------
Canadian investment fund Euroland has put in a last-minute offer
of $2 billion for French electrical appliances group Moulinex, La
Tribune reported Thursday. The offer is said to be shrouded in
mystery prompting unions and receivers in charge of the dossier
to gather more information about Euroland with the help of the
French secretary of state for industry. According to union
sources, Euroland will deposit a certified cheque in a New York
account on Friday as financial proof of its ambitions.

So far French electrical appliances group SEB has presented the
most credible takeover plan, but unions find the offer
unfavorable. The group's works council will issue a definitive
pronouncement on the offers on October 11 and the commercial
court will rule the following day. At that time, the fate of
Moulinex's Brazilian operations will be clearer.



=========
C H I L E
=========

EDELNOR: AES Re-Extends Sr. Loan Purchase Offer Expiration Date
---------------------------------------------------------------
The AES Corporation (NYSE:AES) has announced that it is extending
the expiration date for its tender offer (the "Offer") for cash
by Luna III, Ltd., a Cayman Islands limited liability exempted
company ("Luna") and wholly owned indirect subsidiary of The AES
Corporation to purchase all of the outstanding (i) 10-1/2% Senior
Loan Participation Certificates due 2005 (the "2005
Certificates") and (ii) 7-3/4% Senior Loan Participation
Certificates due 2006 (the "2006 Certificates" and, together with
the 2005 Certificates, the "Certificates") of Empresa Electrica
del Norte Grande S.A., a Chilean corporation ("Edelnor").

The 2005 Certificates and the 2006 Certificates were issued in an
aggregate principal amount of US$90,000,000 and US$250,000,000,
respectively. The Certificates represent pro rata participation
interests in all payments of principal and interest made in
respect of loans of Edelnor.

The Offer will now expire at 5:00 p.m. New York City time, on
October 18, 2001, unless further extended or earlier terminated.
All other terms remain unchanged.

As of 5:00 p.m., New York City time, on October 3, 2001, Luna was
advised by the exchange agent that approximately US$ 8,484,000 of
the total amount of the 2006 Certificates were tendered and none
of the 2005 Certificates were tendered.

Information regarding the tender and delivery procedures and
conditions of the Offer is contained in the Offer to Purchase
dated August 6, 2001 and related documents. Copies of these
documents can be obtained by contacting Mellon Investor Services,
at 917/320-6286. Banc of America Securities LLC is the exclusive
dealer manager for the Offer. Additional information concerning
the terms and conditions of the Offer may be obtained by
contacting Banc of America Securities LLC at 888/292-0070 (toll
free) or 704/388-4807 (collect).

This announcement is not an offer with respect to any securities.
The Offer is made solely by the Offer to Purchase dated August 6,
as the same may be amended from time to time.

CONTACT:  AES Corporation, Arlington
          Kenneth R. Woodcock, 703/522-1315


ENAMI: No Bidders Show, Delta Auction Postponed
-----------------------------------------------
Chile's state mining and minerals processing company Enami
decided to postpone plans to auction off its Delta copper
project, according to a company source in a report Thursday in
Business News Americas. The decision was reached after nobody
came to register with Enami and buy bidding rules for some
US$500. The schedule to register and buy bidding rules ran from
September 20 to 28. Bids were due to be opened on December 21.

"Given low copper prices, it's going to be extremely difficult to
move ahead with the project this year," the source added.

Enami is reportedly saddled with debts amounting to US$470
million. Last year, it posted a loss of US$29.3 million, up from
US$24.3 million in 1999. For this year, the company anticipates a
non-operational loss of US$30 million.


WACKENHUT CHILE: Wackenhut Corp Steps In With Standby LOC's
-----------------------------------------------------------
The Wackenhut Corporation (NYSE: WAK WAKB) reported Wednesday
that it has completed the cash funding of its $32 million of bank
letters of credit issued to secure a portion of its Chilean
affiliates' debt of $54.3 million. With the payment of the bank
standby letters of credit, the Company's affiliate, Wackenhut
Chile S.A., has substituted short-term debt obligations with
local Chilean lenders with a one-year term maturity funding
directly with The Wackenhut Corporation (the "Company"). The
Company has also provided comfort letters for its Chilean
affiliate, which at June 30, 2001 were $5.8 million.

The Chilean affiliate suffered bank loan defaults earlier in the
year on certain of its obligations because it had been unable to
generate sufficient cash, either from ongoing operations or the
sale of assets, to repay its obligations. Wackenhut Chile S.A.
continues to be in default on payments of its unsecured loans,
and continues to work on a bank creditor standstill agreement
relating to the unsecured portion of the remaining local
currency- denominated debt, and the securing of a bridge loan
while it sells the non- core businesses. The affiliate is
requesting a 180-day term of the standstill whereby it plans to
sell sufficient non-core security businesses to repay the local
Chilean unsecured debt, as well as debt due the Company, and to
provide sufficient working capital for the core security
business. Wackenhut Chile S.A. also has engaged a local
investment bank, Asesorias Financieras Sud Americano Limitada, an
affiliate of the Bank of Nova Scotia, to assist in the sale of
the non-core businesses.

At present there can be no assurance that the Chilean affiliate
will obtain a local bank creditor standstill agreement and a
bridge loan. Inability to obtain a standstill or bridge loan
would have a material adverse impact on the Chilean affiliate's
financial position, results of operations and/or cash flows.
Further, while the Chilean affiliate is continuing its efforts to
sell certain segments of its businesses, there can be no
assurances that this will occur. The timing of such activities
cannot be certain as the completion of any such transaction
depends upon the needs of potential acquirers, buyers or
investors; as well as financing, regulatory/legal requirements
and other factors.

The Company has recorded losses, and anticipates recording
additional losses representing the Company's interest in the
Chilean affiliate's operations, which in turn will reduce the
value of its investment in and advances (including loans) to the
Chilean affiliate. At this time, management is unable to estimate
the amount of those losses, if any, that would be recorded should
the sale of assets, or ongoing operating results, be unable to
generate sufficient cash to repay the Chilean affiliate's
obligations to its local Chilean creditors and to the Company,
and there can be no assurance that the ultimate outcome of this
uncertainty would not have a material adverse impact on the
Company's financial position, results of operations, and/or cash
flows.

The Wackenhut Corporation (www.wackenhut.com) is a leading
international provider of business services to major
corporations, government agencies, and a wide range of industrial
and commercial customers. Its principal business lines include
security-related services, correctional services, and flexible
staffing services. The Company is a leader in the privatization
of public services for municipal, state and federal agencies, and
has operations throughout the United States and in over 50 other
countries on six continents.

The Wackenhut Corporation trades on the New York Stock Exchange
under two symbols, the Series A Common Stock (WAK) and the Series
B Common Stock (WAKB). The Series B Common Stock has no voting
rights, but in all other respects is the same as the Series A
Common Stock.

CONTACT:  Patrick Cannan, Director,
          Corporate Relations of Wackenhut Corporation,
          +1-561-691-6643, or pcannan@wackenhut.com



===============
C O L O M B I A
===============

SEVEN SEAS: Announces Record Date for Rights Offering
-----------------------------------------------------
Seven Seas Petroleum Inc. (Amex: SEV) announced a record date of
Monday, October 8, 2001 for its previously announced rights
offering. Seven Seas shareholders of record will be distributed
rights to purchase an aggregate of $22.5 million of Series A
senior secured notes with detachable warrants to purchase
12,619,500 shares of Seven Seas' common stock. A prospectus
relating to the rights offering will be mailed to all
shareholders of record as soon as practicable after the effective
date of the related registration statement. Shareholders will
have thirty days from the day the prospectus is mailed to decide
whether to participate.

Shareholders who are residents of Canada will only be offered
their rights if the Company is able to timely obtain relief from
Canadian securities regulatory requirements applicable to rights
offerings. The Company has applied for relief on the basis that
it is prepared to provide Canadian shareholders the same offering
material as it provides to U.S. shareholders. Seven Seas believes
that the incremental cost and time required to comply with
additional Canadian regulatory requirements, which include
converting accounting and reserve information to Canadian
standards and translating the prospectus to French, are not
justified in the Company's circumstances at this time and would
not provide meaningful additional protection to Canadian
shareholders. The Company estimates that it has approximately
1,800 shareholders who are Canadian residents and who hold a
total of approximately 3.0 million shares, or 8.1% of the
Company's outstanding common stock. The Company will issue a
subsequent news release upon receiving a response to its
application for relief from the Canadian requirements.

Copies of the prospectus may be obtained by writing or calling:

     Bryan Sanchez, Investor Relations
     Seven Seas Petroleum Inc.
     5555 San Felipe, Suite 1700
     Houston, Texas 77056
     Telephone: (713) 622-8218
     Email: infossp@sevenseaspetro.com

A registration statement relating to these securities has been
filed with the Securities and Exchange Commission, but has not
yet become effective. These securities may not be sold, nor may
offers to buy be accepted prior to the time the registration
statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any State
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such State.

Seven Seas Petroleum Inc. is an independent oil and gas
exploration and production company operating in Colombia, South
America. The Company's primary emphasis is on further
exploration, development and production of the Guaduas Oil Field,
located in Colombia's prolific Magdalena Basin.



===========
M E X I C O
===========

AEROMEXICO/MEXICANA: Fitch Puts Ticket Receivables On Watch Neg
---------------------------------------------------------------
Fitch has placed the following emerging market airline ticket
receivable transactions on Rating Watch Negative:

AeroMexico Receivables US Trust, rated 'AA' Rating Watch
Negative. Mexicana Receivables US Trust, rated 'AA' Rating Watch
Negative. Pelican Series 1999-1, rated 'AA' Rating Watch
Negative.

Each of these transactions are guaranteed by a surety bond
provided by Centre Solutions (Centre). The ratings of the
transactions are tied to the financial strength and claims paying
ability of Centre Solutions. Though Fitch does not publish an
insurer financial strength rating on Centre Solutions, Fitch
closely monitors Centre's financial strength and maintains an
internal credit opinion on Centre for use in structured
transactions.

The Rating Watch on these transactions is thus linked to Fitch's
concerns that losses from the Sept. 11 attacks for both Centre
and the worldwide Zurich Insurance organization could prove to be
higher than is consistent with current expectations supporting
Fitch's credit opinion on Centre. Centre is ultimately a wholly
owned subsidiary of the Zurich Financial Services Group of
Zurich, Switzerland. The Rating Watch also acknowledges certain
unfavorable operational trends within the Zurich organization as
a whole.

Fitch believes it is possible the ratings on these transactions
could be affirmed, and that if a downward revision is made to
Fitch's internal credit opinion on Centre, revisions should not
cause the ratings of these transactions to fall below 'AA-'.

CONTACT:  FITCH, CHICAGO
          Sam Fox, 312/606-2307
          (International Structured Finance)
          or
          Keith Buckley, 312/368-3211 (Insurance)

          AEROMEXICO
          Mayte Sera Weitzman of AeroMexico, +1-713-744-8446, or
          mweitzman@aeromexico.com

          MEXICANA DE AVIACION
          Jenny Jenks, Marketing Director, International
          Division of Mexicana Airlines, +1-210-491-9764, or
          ennyjenks@mexicana.com


AEROMEXICO/MEXICO: Gets No Financial Assistance From Government
---------------------------------------------------------------
The Mexican government would not provide direct financial
resources to support the nation's airlines, according to
Communications and Transport ministry (SCT) senior official Aaron
Dychter in a report Thursday in Mexican financial daily El
Economista.

"Direct resources as such will not be provided, but there will be
support through different departments and entities to provide the
airlines with conditions to continue providing service," he said,
denying that there would be a "Fobaproa" of the airline sector.
Representatives of the National Air-transport Chamber (Canaero)
are continuing to meet with the SCT to evaluate the airlines'
situations and look for solutions, he added.

Dychter's announcement came after SCT Minister Pedro Cerisola
disclosed a "contingency plan" to support airlines, such as
flagship carriers Aeromexico and Mexicana de Aviacion and a
handful of smaller airlines.


BANCO ATLANTICO: Bital Reaches Deal With IPAB Over Purchase
-----------------------------------------------------------
Grupo Financiero Bital, Mexico's No. 5 financial group, announced
Thursday that it finally struck a deal with Mexican bank bailout
agency to acquire Banco del Atlantico, Reuters said in a report.
The agreement comes after nearly four years of negotiations
between Bital and IPAB, which currently controls Altantico. Bital
issued a brief statement informing that the boards of directors
of Grupo Financiero Bital and its Banco Bital banking arm had
approved a final deal struck with IPAB to purchase Altantico.

The value of the transaction and the terms of the purchase
agreement, which is not final until it is also approved by
shareholders, were not disclosed.

"We are certain that shareholders will approve (the deal). It is
the final result of a long but responsible negotiation and allows
us to continue our capitalization process," Luis Berrondo,
president of the Boards of Directors of Bital financial group and
bank, said in the statement.

According to estimates by analysts, Bital is undercapitalized by
between $200 and $500 million. Like many Mexican banks, Bital was
saddled with huge debts following a December 1994 peso crash and
ensuing economic crisis that sent interest rates soaring over 100
percent and caused millions of debtors to default on loans.


CORPORACION GEO: Shares Up 6.3% Following Bond Sale
----------------------------------------------------
Corporacion Geo SA (GEOB MM), the country's largest homebuilder,
on Thursday rose 38 centavos, or 6.3 percent, to 6.43 pesos,
according to a Bloomberg report. Geo last week sold 135 million
pesos ($14.2 million) in five-year bonds to help cover $50
million in euro-debt coming due next year. Geo was able to sell
the bonds at the same yield as a 300 million-peso bond with a
four-year maturity sold in August, signaling investor confidence
in the company.


GAM: Government Action Seen As Unsettling To Foreign Investors
--------------------------------------------------------------
U.S. financier Wilbur Ross stated that the expropriation of 27
sugar refineries by the federal government sends a negative
signal to foreign investors who might have been considering
investments in this or another sector in Mexico, El Financiero
reported Wednesday. Ross owns bonds in Grupo Azucarero Mexicano
(GAM) totaling some US$75 million, and said the government's
expropriation of the GAM refineries was unfair.

"This you would expect from a dictatorship or a communist
government, not from a member of NAFTA (the North American Free
Trade Agreement)," he said. He and other bondholders will take
their case to the NAFTA courts under Chapter 11 of the free trade
deal, he added.

Ross is known as the King of Bankruptcy for his restructuring of
failed companies around the world.


GRUPO DESC: Shares Rise Following Debt Payment Announcement
-----------------------------------------------------------
Desc SA (DESCB MM), an industrial group with businesses in
chemicals, auto parts, food and real estate, on Thursday rose 12
centavos, or 3.5 percent, to 3.52 pesos, while the company's less
commonly traded C shares (DESCC MM) soared 9.1 percent to 3.6
pesos, according to a report in Bloomberg. Desc recently said it
paid $60 million to creditors in the third quarter, reducing its
total debt to $960 million.



=================
N I C A R A G U A
=================

ENITEL: Buyer Seeks Extension Of Payment Deadline
-------------------------------------------------
Swedish-Honduran consortium Telia Swedtel EMCE was supposed to
deliver last week the US$33 million payment for 40 percent of
incumbent fixed line operator Enitel, according to Enitel
chairman Salvador Quintanilla in a Business News Americas report.
However, the consortium is seeking to push the deadline back
until October 15 and is now negotiating with Nicaraguan
authorities over the matter.

The consortium presented the winning bid for the stake at an
August 31 auction.

"The legality of the sale has been definitively resolved.
Following closure of the transaction, (Telia, EMCE and existing
Enitel board members) will work together on a development plan,
including technology changes within the company," said
Quintanilla.

As Enitel's new owner, Telia-EMCE also agreed to pay US$50
million to administrate the telco, payable over five years. Of
the 60 percent of Enitel still held by the state, 1 percent will
be donated to Enitel employees, who will also have the
opportunity to acquire an additional 10 percent. The government
has an option to sell the remaining 49 percent in the next three
years.



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

BWIA: Seeking Financial Aid From Government To Cover Losses
-----------------------------------------------------------
Seeking to recover an estimated TT$12.5-million loss during its
five-day no-flight period following the terrorist attacks in the
US, Trinidad's national airline BWIA began preliminary talks with
the government for financial assistance, The Trinidad Express
reported October 1.

BWIA's Director of Corporate Communications Clint Williams
informed that the airline has spoken to the government who has
indicated it is willing to consider the airline's situation.
According to the executive, the airline is still "assessing" the
situation and is keeping the government updated as things unfold.


BWIA: Seen Imposing Surcharge To Make Up For Losses
---------------------------------------------------
BWIA West Indies Airways mulls imposing a surcharge of between
US$5-US$10 on passengers as it attempts to recover significant
losses in revenue and the increased expenditure it will have to
confront with following the Sept. 11 terrorist attacks in the US,
The Trinidad Guardian reported October 2. However, Clint
Williams, corporate communications manager of BWIA, said he could
not say when the airline would start imposing the surcharge.

Williams said that the airline faces an increased war-risk
insurance premium from US$40,000 per year to US$3.2 million per
year. Williams said he could not name the insurance company but
added that BWIA works through a brokerage firm in London.




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 American is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ,
and Beard Group, Inc., Washington, DC. John D. Resnick and Edem
Psamathe P. Alfeche, Editors.

Copyright 2001.  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 $575 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 $25 each.  For subscription information,
contact Christopher Beard at 240/629-3300.


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