TCRLA_Public/060104.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

          Wednesday, January 4, 2006, Vol. 7, Issue 3

                            Headlines

A R G E N T I N A

A.B.E. CONSTRUCCIONES: Court Grants Reorganization Plea
ARTEPOL S.A.: Court Authorizes Plan, Concludes Reorganization
BRASS S.A.: Entering Bankruptcy on Court Orders
CO.FA.VI. COOPERATIVA: Liquidates Assets to Pay Debts
COLUBRIS S.A.: Begins Liquidation

CW ARGENTINA: Enters Bankruptcy on Court Orders
HALYO HERMANOS: Liquidating Assets to Pay Debts
INDUSTRIAS PLASTICAS: Bankruptcy Converted to Reorganization
LANKER S.A.: Court Orders Liquidation
NUTRIMENTOS S.A.: Informative Assembly Set for May 24

ROULANT S.A.: Initiates Bankruptcy Proceedings
SINASPO S.R.L.: Gets Court Approval for Reorganization


B E R M U D A

LINES OVERSEAS: Denies Chairman/Pres. Served With SEC Subpoena


B O L I V I A

AGUAS DEL TUNARI: Govt. Agrees to Buy Shareholders' Interest


B R A Z I L

SADIA: To Relocate to Curitiba This Year
USIMINAS: CVM Launches Probe into Contracts with SMP&B


C A Y M A N   I S L A N D S

ALPHAGEN CEPHEUS: To be Voluntarily Wound Up
ALPHAGEN CURRENCY: Sole Shareholder Decides on Voluntary Wind Up
ATLAS EQUITY I: Appoints Joint Liquidators
ATLAS EQUITY II: Creditors to Prove Claims On/Before Jan. 28
ATLAS EQUITY III: Shareholder Moves to Wind Up Company

ATLAS MASTER: Creditors Have Until Jan. 28 to Prove Debt Claims
ATLAS MASTER INTERMEDIARY: Kicks Off Voluntary Wind Up Process
ENRON INDIA: Director Moves to Wind Up Company
FIRST SHIP: Names John Cullinane, Derrie Boggess as Liquidators
GALT FUND: Shareholder Seeks to Wind Up Company

GALT INTERMEDIARY: Appoints Joint Liquidators
GLOBAL CAPITAL: Commences Voluntary Wind Up Process
HARDY LTD: Shareholder Resolves to Wind Up Company
HIMO INVESTORS: Sets Deadline for Submission of Debt Particulars
ITROS OFFSHORE: Shareholder Decides to Wind Up Firm

LIBERTY ERMITAGE: To Undergo Voluntary Wind Up
MARCEAU LTD: Linburgh Martin, Neil Gray to Oversee Liquidation
MCLEAN MARKET: Shareholders Resolve to Liquidate Company
NAVARRO LTD: Creditors Have Until Jan. 28 to Prove Debt Claims
OSATO BP: Taps N. Jeffrey Arkley, John Sutlic as JLs

PERCON MANAGED: To be Wound Up Voluntarily
POWIS SQUARE: Appoints Thomas Olsson as Liquidator
QUANTITATIVE CAPITAL: Resolves to Liquidate Voluntarily
QUANTITATIVE CAPITAL MANAGEMENT: Creditors to Prove Claims
SALIX HEALTHCARE: Liquidators Appointed

TUPPERWARE HOLDINGS: Liquidators to Validate Creditors' Claims
VCM LIMITED: Verification Phase to End Jan. 30
VENTURE CAPITAL: Liquidators to Verify Claims
WINTHROP U.S.: Creditors Given 30 Days to Prove Claims
YELLOW SUBMARINE: Enters Voluntary Liquidation


C O L O M B I A

TELECOM: Comverse to Provide New Billing Software


M E X I C O

CALPINE CORP: Court OKs Continuing Intercompany Transactions
EMPRESAS ICA: Seeks Greater Participation in Infra Tenders

     -  -  -  -  -  -  -  -

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

A.B.E. CONSTRUCCIONES: Court Grants Reorganization Plea
-------------------------------------------------------
A.B.E. Construcciones S.R.L. successfully petitioned for
reorganization after a Buenos Aires court issued a resolution
opening the Company's insolvency proceedings.

Under insolvency protection, the Company will continue to manage
its assets, subject to certain conditions imposed by Argentine
law and the oversight of a court-appointed trustee.

Infobae relates that Mr. Roberto Jorge Massacane will serve as
trustee during the course of the reorganization. The trustee
will be accepting creditors' proofs of claim for verification
until April 25, 2006.

After verifications, the trustee will prepare the individual
reports and submit it in court on June 8, 2006. He will also
present a general report for court review on Aug. 4, 2006.

The Company will endorse the settlement proposal, drafted from
the submitted claims, for approval by the creditors during the
informative assembly scheduled on Dec. 7, 2006.

CONTACT:  A.B.E. Construcciones S.R.L.
          Moreno 1836 Capital Federal

          Mr. Roberto Jorge Massacane, Trustee
          Roque Saenz Pena 846
          Buenos Aires


ARTEPOL S.A.: Court Authorizes Plan, Concludes Reorganization
-------------------------------------------------------------
Buenos Aires-based Artepol S.A. concluded its reorganization
process, according to data released by Infobae on its Web site.
The conclusion came after the city's civil and commercial court
homologated the debt plan signed between the Company and its
creditors.


BRASS S.A.: Entering Bankruptcy on Court Orders
-----------------------------------------------
Brass S.A. enters bankruptcy protection after a Buenos Aires
court ordered the Company's liquidation. The order effectively
transfers control of the Company's assets to a court-appointed
trustee who will supervise the liquidation proceedings.

Infobae reports that the court selected Mr. Luis Hugo Dicesare
as trustee. Mr. Dicesare will be verifying creditors' proofs of
claim until the end of the verification phase on March 17, 2006.

Argentine bankruptcy law requires the trustee to provide the
court with individual reports on the forwarded claims and a
general report containing an audit of the Company's accounting
and business records. The dates for the submission of the
reports are yet to be disclosed.

CONTACT:  Mr. Luis Hugo Dicesare, Trustee
          Viamonte 1348
          Buenos Aires


CO.FA.VI. COOPERATIVA: Liquidates Assets to Pay Debts
-----------------------------------------------------
Co.Fa.Vi. Cooperativa Limitada will begin liquidating its assets
following the pronouncement of Buenos Aires' civil and
commercial court that the Company is bankrupt, Infobae reports.

The bankruptcy ruling places the Company under the supervision
of court-appointed trustee, accounting firm Estudio Zudaire,
Sandoval, Tanquias y Asociados. The trustee will verify
creditors' proofs of claim until March 30, 2006. The validated
claims will be presented in court as individual reports.

The trustee will also submit a general report, containing a
summary of the Company's financial status as well as relevant
events pertaining to the bankruptcy.

Dates for the presentation of the reports are yet to be
disclosed.

The bankruptcy process will end with the disposal of the
Company's assets in favor of its creditors.

CONTACT:  Estudio Zudaire, Sandoval, Tanquias y Asociados
          Trustee
          Tucuman 255
          Buenos Aires


COLUBRIS S.A.: Begins Liquidation
---------------------------------
Colubris S.A. of Buenos Aires will begin liquidating its assets
after city's civil and commercial court declared the Company
bankrupt. Infobae reveals that the bankruptcy process will
commence under the supervision of court-appointed trustee, Ms.
Elisa Esther Tomattis.

The trustee will review claims forwarded by the Company's
creditors until March 20, 2006. After claims verification, Ms.
Tomattis will submit the individual reports for court approval
on May 2, 2006. The general report will follow on June 14, 2006.

CONTACT:  Colubris S.A.
          Sarmiento 1562 Capital Federal

          Ms. Elisa Esther Tomattis, Trustee
          Avda. Callao 215
          Buenos Aires


CW ARGENTINA: Enters Bankruptcy on Court Orders
-----------------------------------------------
Buenos Aires' civil and commercial court declared CW Argentina
S.A. bankrupt after the Company defaulted on its debt payments.
The bankruptcy order effectively places the Company's affairs as
well as its assets under the control of court-appointed trustee,
Mr. Hector Alfredo Franco.

As the trustee, Mr. Franco is tasked with verifying the
authenticity of claims presented by the Company's creditors. The
verification phase is ongoing until March 15, 2006.

Following claims verification, the trustee will submit the
individual reports based on the forwarded claims for final
approval by the court on April 28, 2006. A general report will
also be submitted on June 13, 2006.

CONTACT:  Mr. Hector Alfredo Franco, Trustee
          Chacabuco 178
          Buenos Aires


HALYO HERMANOS: Liquidating Assets to Pay Debts
-----------------------------------------------
Buenos Aires-based Halyo Hermanos S.R.L. will begin liquidating
its assets following the pronouncement of the city's civil and
commercial court that the Company is bankrupt, reports Infobae.

The bankruptcy ruling places the Company under the supervision
of court-appointed trustee, Mr. Nestor S. Rozenberg. The trustee
will verify creditors' proofs of claim. The validated claims
will be presented in court as individual reports. Mr. Rozenberg
will also submit a general report, containing a summary of the
Company's financial status as well as relevant events pertaining
to the bankruptcy.

Dates for the end of the verification phase as well as the dates
for the submission of the reports are yet to be determined.

The bankruptcy process will end with the disposal of the
Company's assets in favor of its creditors.

CONTACT:  Mr. Nestor S. Rozenberg, Trustee
          Mansilla 3696
          Buenos Aires


INDUSTRIAS PLASTICAS: Bankruptcy Converted to Reorganization
------------------------------------------------------------
Industrias Plasticas Femar S.R.L. will proceed with
reorganization after a Buenos Aires Court converted the
Company's ongoing bankruptcy case into a "concurso preventivo",
states Infobae.

Under Insolvency protection, the Company will be able to draft a
proposal designed to settle its debts with creditors. The
reorganization also prevents an outright liquidation.

Mr. Eduardo Salomon Zalutzky, the court-appointed trustee, will
verify creditors' proofs of claim until Feb. 27, 2006. Creditors
with unverified claims cannot participate in the Company's
settlement plan.

Mr. Zalutzky will prepare individual reports out of the verified
claims and present them in court on April 24, 2006. He will also
submit a general report on the case on June 8, 2006.

CONTACT:  Mr. Eduardo Salomon Zalutzky, Trustee
          Lavalle 1523
          Buenos Aires

         
LANKER S.A.: Court Orders Liquidation
-------------------------------------
Lanker S.A. prepares to wind-up its operations following the
bankruptcy pronouncement issued by Buenos Aires' civil and
commercial court. The declaration effectively prohibits the
company from administering its assets, control of which will be
transferred to a court-appointed trustee.

Infobae reports that the court appointed Mr. Alfredo Alberto A.
Figliomeni as trustee. Mr. Figliomeni will be reviewing
creditors' proofs of claim until Feb. 28, 2006. The verified
claims will serve as basis for the individual reports to be
presented for court approval on April 20, 2006. The trustee will
also submit a general report of the case on June 9, 2006.

CONTACT:  Lanker S.A.
          Viamonte 1604
          Buenos Aires

          Mr. Alfredo Alberto A. Figliomeni, Trustee
          Agrelo 4240
          Buenos Aires


NUTRIMENTOS S.A.: Informative Assembly Set for May 24
-----------------------------------------------------
The informative assembly for Nutrimentos S.A., a company
undergoing reorganization, will be on May 24, 2006, Infobae
reports.

Nutrimentos S.A. began reorganization following the approval of
its petition by Buenos Aires' civil and commercial court.


ROULANT S.A.: Initiates Bankruptcy Proceedings
----------------------------------------------
A Buenos Aires court declared Roulant S.A. "Quiebra," reports
Infobae. Ms. Norma Elida Fistzen, who has been appointed as
trustee, will verify creditors' claims until March 29, 2006 and
then prepare the individual reports based on the results of the
verification process.

The individual reports will then be submitted to court on May
10, 2006, followed by the general report on June 22, 2006.

CONTACT:  Ms. Norma Elida Fistzen, Trustee
          Viamonte 1446
          Buenos Aires


SINASPO S.R.L.: Gets Court Approval for Reorganization
------------------------------------------------------
Sinaspo S.R.L. will begin reorganization following the approval
of its petition by Buenos Aires' civil and commercial court. The
opening of the reorganization will allow the Company to
negotiate a settlement with its creditors in order to avoid a
straight liquidation.

Ms. Elena Beatriz Tancredi will oversee the reorganization
proceedings as the court-appointed trustee. She will verify
creditors' claims until April 4, 2006. The validated claims will
be presented in court as individual reports on May 19, 2006.

Ms. Tancredi is also required by the court to submit a general
report essentially auditing the Company's accounting and
business records as well as summarizing important events
pertaining to the reorganization. The report will be presented
in court on July 4, 2006.

An Informative Assembly, the final stage of a reorganization
where the settlement proposal is presented to the Company's
creditors for approval, is scheduled on Dec. 12, 2006.

CONTACT:  Ms. Elena Beatriz Tancredi, Trustee
          Ecuador 1185
          Buenos Aires



=============
B E R M U D A
=============

LINES OVERSEAS: Denies Chairman/Pres. Served With SEC Subpoena
--------------------------------------------------------------
A source from Bermuda-based firm Lines Overseas Management (LOM)
denied the Company's Chairman and President, Donald Lines, has
been served with subpoena by the U.S. securities regulator, the
Royal Gazette reports.

Mr. Lines, 73, went to the U.S. in the second week of November
2005 for an emergency heart operation, but "he was not then nor
has he ever been served with an SEC subpoena, and is bewildered
as to why and how the SEC would allege otherwise," the LOM
spokesperson said.

The U.S. Securities and Exchange Commission, in documents filed
with the U.S. District Court for the District of Columbia,
alleged that on November 10, 2005, SEC staff personally served
three administrative subpoenas on Lines while he was present in
the United States.

Responding to LOM's denial, SEC assistant chief litigation
counsel Michael K. Lowman said the SEC "stands by our statements
in the report" which said that Mr. Lines was served with a
personal subpoena as well as subpoenas issued to Lines Overseas
Management Ltd. and LOM (Holdings) Ltd.

"We have the affidavit of the process server to prove it," Mr.
Lowman insisted.

The subpoenas are said to mirror four previously served on LOM
Managing Director Scott Lines and the corporate entity when he
travelled to the U.S. in 2004 for the purpose of seeing a heart
doctor.

All subpoenas relate to requests for information relating to SEC
probes of market manipulation involving shares issued by Sedona
Software Solutions Inc. and SHEP Technologies Inc and HiEnergy
Technologies Inc.

The SEC previously told the court that evidence from its
investigations has led its enforcement officers to LOM and Scott
Lines as "potential key actors in the schemes."

The court filing said that the subpoenas served on Donald Lines
required the production of documents as well as his in-person
testimony at the SEC's Washington headquarters in mid-November.

The SEC, however, said neither Donald Lines nor the two LOM
entities complied with or responded in anyway to the subpoenas.

Donald Lines took over as president this summer after his son
Brian, who co-founded the company in 1992 with brother Scott,
resigned amid hopes that his departure "might improve the
company's ability to resolve the matter and move forward."



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

AGUAS DEL TUNARI: Govt. Agrees to Buy Shareholders' Interest
------------------------------------------------------------
The Bolivian government has agreed to buy the shares of U.S.-
based International Water (55%) and Spanish company Abengoa
(25%) in Cochabamba water utility Aguas del Tunari, reports
Business News Americas.

"Basically, the agreement says that the shares will be bought
for a nominal price of one boliviano from each of the
[controlling] companies, which means two bolivianos [US$0.25]
for 80% of the stock," deputy basic services and public works
minister Eduardo Rojas was quoted as saying.

The agreement frees the main shareholders of all charges and
responsibilities. In turn, the government will no longer have to
deal with the US$25-million lawsuit filed by the two Aguas del
Tunari shareholders with the International Center for Settlement
of Investment Disputes (ICSID).

According to the report, the shareholders have dropped the
lawsuit, which was filed after the government cancelled Aguas
del Tunari's contract in 2000 due to civil disturbances in
protests against the concessionaire, just one year into the
contract.

Once the signed documents arrive from the respective countries
of the two shareholders, the government will call for a board
meeting to discuss how to continue and guarantee normal water
services, Rojas said.


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

SADIA: To Relocate to Curitiba This Year
----------------------------------------
Brazil's main food brand Sadia will transfer its headquarters
this year to Curitiba, capital city of Brazil's southern state
of Parana, their administrative center, thus joining the
planning, supplies, purchases and engineering areas, reports
ANBA Brazil.

Walter Fontana Filho, the president of the company's Management
Council, revealed the plan late December 2005, saying the move
will demand investments worth US$64.5 million.

At present, Sadia's headquarters are located in the Lapa
neighborhood of the city of Sao Paulo.

Sadia is one of the largest companies in the meats sector in the
country. Between January and September 2005, it reported gross
revenue of US$2.6 billion, 15% higher compared to US$2.28
billion registered during the first nine months in 2004.


USIMINAS: CVM Launches Probe into Contracts with SMP&B
------------------------------------------------------
The Brazilian Securities and Exchange Commission, or CVM, has
launched a probe into possible irregularities in contracts
between steelmaker (Usiminas) and public relations firm SMP&B.

SMP&B is run by Marcos Valerio de Souza, who is accused of
running an illegal campaign-finance scheme for the ruling
Workers' Party (PT).

Congressional publication Jornal do Senado reported in October
that government investigators have identified Usiminas and its
flat-steel subsidiary Cosipa as allegedly contributing to a
BRL200 million (currently US$85.5mn) account related to the
bribery scandal.

Belo Horizonte-based Usiminas is Brazil's largest producer of
flat steel. Together with Cosipa, it has installed capacity of
9.5Mt/y.



===========================
C A Y M A N   I S L A N D S
===========================

ALPHAGEN CEPHEUS: To be Voluntarily Wound Up
--------------------------------------------
              ALPHAGEN CEPHEUS FUND LIMITED
                (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 24th November 2005:

That the company be voluntarily wound up and THAT Linburgh
Martin and John Sutlic, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed Joint Liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the January 28, 2006 and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  LINBURGH MARTIN
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949 8455
          Facsimile: (345) 949 8499


ALPHAGEN CURRENCY: Sole Shareholder Decides on Voluntary Wind Up
----------------------------------------------------------------
              ALPHAGEN CURRENCY FUND LIMITED
                (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 24th November 2005:

That the company be voluntarily wound up and that Linburgh
Martin and John Sutlic, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  LINBURGH MARTIN
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 94- 8455
          Facsimile: (345) 949-8499


ATLAS EQUITY I: Appoints Joint Liquidators
------------------------------------------
                    ATLAS EQUITY I, LTD.
                 (In Voluntary Liquidation)
             The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


ATLAS EQUITY II: Creditors to Prove Claims On/Before Jan. 28
------------------------------------------------------------
                 ATLAS EQUITY II, LTD.
              (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


ATLAS EQUITY III: Shareholder Moves to Wind Up Company
------------------------------------------------------
                   ATLAS EQUITY III, LTD.
                 (In Voluntary Liquidation)
              The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


ATLAS MASTER: Creditors Have Until Jan. 28 to Prove Debt Claims
---------------------------------------------------------------
               ATLAS MASTER FUND II, LTD.
               (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


ATLAS MASTER INTERMEDIARY: Kicks Off Voluntary Wind Up Process
--------------------------------------------------------------
            ATLAS MASTER INTERMEDIARY FUND, LTD.
                (In Voluntary Liquidation)
             The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


ENRON INDIA: Director Moves to Wind Up Company
----------------------------------------------
                ENRON INDIA HOLDINGS LIMITED
         (In Official Liquidation) ("The Company")
              The Companies Law (2004 Revision)

A petition to wind up the Company, whose registered office is at
Appleby Spurling Hunter, Clifton House, 75 Fort Street, P.O. Box
190GT, Grand Cayman, Cayman Islands, was presented to the Court
on 12th December, 2005 by the director on 12th December 2005,
G.T.L. Bullmore and S.L.C. Whicker were appointed joint official
liquidators of the Company.

Creditors of the Company are to prove their debts or claims on
or before 28th January 2006, and to establish any title they may
have under the Companies Law (2004 revision), or to be excluded
from the benefit of any distribution made before such debts are
proved or from objecting to the distribution.

CONTACT:  S.L.C. WHICKER
          Joint Official Liquidator
          P.O. Box 493 GT, Grand Cayman
          Cayman Islands
          Contact for enquiries: Kris Beighton
          Telephone: (345) 914-4392
          Facsimile: (345) 945-7164


FIRST SHIP: Names John Cullinane, Derrie Boggess as Liquidators
---------------------------------------------------------------
         FIRST SHIP COMMODITY PRODUCTS OFFSHORE, LTD
                     (The "Company")
               (In Voluntary Liquidation)
               Companies Law (As Amended)

TAKE NOTICE THAT the following resolution was passed by the
shareholders of the Company by written resolution dated 17th
November 2005:

RESOLVED that the Company be voluntarily wound up and John
Cullinane and Derrie Boggess c/o Walkers SPV Limited, P.O. Box
908, George Town, Grand Cayman, Cayman Islands, be appointed as
joint liquidators to act for the purposes of such winding up.

NOTICE IS HEREBY GIVEN that the creditors of the Company which
is being wound up voluntarily are required within 30 days of the
publication of this notice, to send in their names and addresses
and the particulars of their debts and claims and the names and
addresses of their attorneys-at-law (if any) to the undersigned.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.

Date of Publication: 16th December 2005

CONTACT:  JOHN CULLINANE and DERRIE BOGGESS
          Joint Voluntary Liquidators
          c/o Walkers SPV Limited
          Walker House, P.O. Box 908
          George Town, Grand Cayman
          Contact for enquiries: John Cullinane
          Telephone: (345) 914-6305


GALT FUND: Shareholder Seeks to Wind Up Company
-----------------------------------------------
                    GALT FUND LTD.
             (In Voluntary Liquidation)
          The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


GALT INTERMEDIARY: Appoints Joint Liquidators
---------------------------------------------
              GALT INTERMEDIARY FUND LTD.
              (In Voluntary Liquidation)
          The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


GLOBAL CAPITAL: Commences Voluntary Wind Up Process
---------------------------------------------------
             GLOBAL CAPITAL VENTURES LIMITED
               (In Voluntary Liquidation)
           The Companies Law (2004 Revision)

The following special resolution was passed by the shareholder
of the above-named Company at an extraordinary general meeting
of the shareholder held on 9th December 2005:

RESOLVED THAT the Company be voluntarily wound up and that
Kareen Watler and Sylvia Lewis be and are hereby appointed as
liquidators of the Company for that purpose.

Creditors of this company are to prove their debts or claims on
or before the 30th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

Date of liquidation: 9 December 2005

CONTACT:  KAREEN WATLER and SYLVIA LEWIS
          Joint Voluntary Liquidators
          P.O. Box 1109GT, Grand Cayman
          Cayman Islands
          Contact for enquiries: Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634


HARDY LTD: Shareholder Resolves to Wind Up Company
--------------------------------------------------
                         HARDY LTD.
                  (In Voluntary Liquidation)
              The Companies Law (2004 Revision)

TAKE NOTICE that the following special written resolution
(resolution 1) and ordinary resolution (resolution 2) were
passed by the shareholder of the above-mentioned company at an
extraordinary general meeting on the 16th December 2005:

THAT the company be placed in voluntary winding up;

THAT Commerce Corporate Services Limited be appointed as
liquidator of the company.

Date of Liquidation: 30th January 2006.

CONTACT:  COMMERCE CORPORATE SERVICES LIMITED
          Voluntary Liquidator
          P.O. Box 694GT, Grand Cayman
          Cayman Islands
          Telephone: 949-8666
          Facsimile: 949-0626


HIMO INVESTORS: Sets Deadline for Submission of Debt Particulars
----------------------------------------------------------------
                  HIMO INVESTORS, LTD.
                     (The "Company")
              (In Voluntary Liquidation)
               Companies Law (As Amended)

TAKE NOTICE THAT the following resolution was passed by the
shareholders of the Company by written resolution dated 3rd
November 2005:

RESOLVED that the Company be voluntarily wound up and John
Cullinane and Derrie Boggess c/o Walkers SPV Limited, P.O. Box
908, George Town, Grand Cayman, Cayman Islands, be appointed as
joint liquidators to act for the purposes of such winding up.

NOTICE IS HEREBY GIVEN that the creditors of the Company which
is being wound up voluntarily are required within 30 days of the
publication of this notice, to send in their names and addresses
and the particulars of their debts and claims and the names and
addresses of their attorneys-at-law (if any) to the undersigned.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.

Date of Publication: 16th December 2005

CONTACT: JOHN CULLINANE and DERRIE BOGGESS
         Joint Voluntary Liquidators
         c/o Walkers SPV Limited
         Walker House, P.O. Box 908
         George Town, Grand Cayman
         Contact for enquiries: John Cullinane
         Telephone: (345) 914-6305


ITROS OFFSHORE: Shareholder Decides to Wind Up Firm
---------------------------------------------------
                   ITROS OFFSHORE, LTD.
               (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 9th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and John Sutlic, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  JOHN SUTLIC
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


LIBERTY ERMITAGE: To Undergo Voluntary Wind Up
---------------------------------------------
           LIBERTY ERMITAGE LIQUID ASSETS SPC
               (In Voluntary Liquidation)
            The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 8th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  N. JEFFREY ARKLEY
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


MARCEAU LTD: Linburgh Martin, Neil Gray to Oversee Liquidation
--------------------------------------------------------------
                        MARCEAU LTD.
                 (In Voluntary Liquidation)
              The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and THAT Linburgh
Martin and Neil Gray, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  LINBURGH MARTIN
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Neil Gray
          Telephone: (345) 949 8455
          Facsimile: (345) 949 8499


MCLEAN MARKET: Shareholders Resolve to Liquidate Company
--------------------------------------------------------
             MCLEAN MARKET NEUTRAL FUND LIMITED
               (In Voluntary Liquidation)
           The Companies Law (2004 Revision)

The following special resolution was passed by the shareholders
of this company at an extraordinary general meeting held on 15th
December 2005:

RESOLVED that the Company be placed into voluntary liquidation
and that Sarah Rickelman; c/o BV Group Ventures, 1650 Tysons
Blvd., Suite 950, McLean, VA., 22102, be appointed liquidator
for the purpose of such winding-up.

Creditors of the company are to prove their debts or claims on
or before 18th January 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or be excluded
from the benefit of any distribution made before such debts are
proved or from objecting to the distribution.

Date of liquidation: 15th December 2005.

CONTACT:  SARAH RICKELMAN
          Voluntary Liquidator
          P.O. Box 1111, Grand Cayman, Cayman Islands
          Officer for enquiries: Avril Brophy
          Telephone: 345 949-5122
          Facsimile: 345 949-7920


NAVARRO LTD: Creditors Have Until Jan. 28 to Prove Debt Claims
--------------------------------------------------------------
                      NAVARRO LTD.
                (In Voluntary Liquidation)
             The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and THAT Linburgh
Martin and Neil Gray, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  LINBURGH MARTIN
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Neil Gray
          Telephone: (345) 949 8455
          Facsimile: (345) 949 8499


OSATO BP: Taps N. Jeffrey Arkley, John Sutlic as JLs
----------------------------------------------------
                      OSATO BP
            (In Voluntary Liquidation)
          The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of the above-named company at an extraordinary
general meeting of the shareholders held on 16th December 2005:

That the company be voluntarily wound up and that N. Jeffrey
Arkley and John Sutlic, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of this company are to prove their debts or claims on
or before the 28th January 2006, and to establish any title they
may have under the Companies Law (2004 Revision), or to be
excluded from the benefit of any distribution made before the
debts are proved or from objecting to the distribution.

CONTACT:  JOHN SUTLIC
          Joint Voluntary Liquidator
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Contact for enquiries: Thiry Gordon
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


PERCON MANAGED: To be Wound Up Voluntarily
------------------------------------------
                 Percon Managed Futures Fund
                  (In Voluntary Liquidation)
                  Companies Law (As Amended)

TAKE NOTICE THAT the following resolution was passed by the
shareholders of Percon Managed Futures Fund by written
resolution dated December 14, 2005:

RESOLVED that the Company be voluntarily wound up and John
Cullinane and Derrie Boggess c/o Walkers SPV Limited, P.O. Box
908, George Town, Grand Cayman, Cayman Islands, be appointed as
joint liquidators to act for the purposes of such winding up.

NOTICE IS HEREBY GIVEN that the creditors of the Company which
is being wound up voluntarily are required within 30 days of the
publication of this notice, to send in their names and addresses
and the particulars of their debts and claims and the names and
addresses of their attorneys-at-law (if any) to the undersigned.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.

Date of Publication: December 16, 2005

CONTACT:  John Cullinane and Derrie Boggess
          Joint Voluntary Liquidators
          c/o Walkers SPV Limited
          Walker House, P.O. Box 908
          George Town, Grand Cayman
          Telephone: (345) 914-6305


POWIS SQUARE: Appoints Thomas Olsson as Liquidator
--------------------------------------------------
                     Powis Square Limited
                  (In Voluntary Liquidation)
               The Companies Law (2004 Revision)

The following special resolution was passed by the shareholders
of Powis Square Limited at an extraordinary general meeting of
the shareholders held on December 14, 2005:

That the Company be voluntarily wound up and that Thomas Olsson,
of 11 David Mews, London W1U 6EG, UK, be and is hereby appointed
as sole liquidator of the company for the purpose of winding up
the Company.

Creditors of the Company are to prove their debts or claims on
or before January 9, 2006, and to establish any title they may
have under the Companies Law (2003 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

CONTACT:  Mr. Tomas Olsson, Voluntary Liquidator
          11 David Mews
          London, W1U 6EG, UK
          Telephone: (44) 20 7434 4131
          Facsimile: (44) 20 7287 6059


QUANTITATIVE CAPITAL: Resolves to Liquidate Voluntarily
-------------------------------------------------------
              Quantitative Capital Management Ltd.
                  (In Voluntary Liquidation)
               The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder Of Quantitative Capital Management Ltd. at an
extraordinary general meeting of the shareholders held on
December 16, 2005:

That the Company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of the Company are to prove their debts or claims on
or before January 28, 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

CONTACT:  N. Jeffrey Arkley, Joint Voluntary Liquidator
          Thiry Gordon
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


QUANTITATIVE CAPITAL MANAGEMENT: Creditors to Prove Claims
----------------------------------------------------------
      Quantitative Capital Management Intermediaery, Ltd.
                 (In Voluntary Liquidation)
             The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of Quantitative Capital Management Intermediaery,
Ltd. at an extraordinary general meeting of the shareholders
held on December 16, 2005:

That the Company be voluntarily wound up and that N. Jeffrey
Arkley and Naul Bodden, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of the Company are to prove their debts or claims on
or before January 28, 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

CONTACT:  N. Jeffrey Arkley, Joint Voluntary Liquidator
          Thiry Gordon
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


SALIX HEALTHCARE: Liquidators Appointed
---------------------------------------
             Salix Healthcare (General Partner) Inc
                  (In Voluntary Liquidation)
               The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of Salix Healthcare (General Partner) Inc at an
extraordinary general meeting of the shareholders held on
December 16, 2005:

That the Company be voluntarily wound up and that Linburgh
Martin and John Sutlic, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of the Company are to prove their debts or claims on
or before January 28, 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

CONTACT:  Mr. John Sutlic, Joint Voluntary Liquidator
          Thiry Gordon
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


TUPPERWARE HOLDINGS: Liquidators to Validate Creditors' Claims
--------------------------------------------------------------
                   Tupperware Holdings Ltd.
                  (In Voluntary Liquidation)
               The Companies Law (2004 Revision)

The following special resolution was passed by the sole
shareholder of Tupperware Holdings Ltd. at an extraordinary
general meeting of the shareholders held on December 12, 2005:

That the Company be voluntarily wound up and that Linburgh
Martin and Jeff Arkley, of P.O. Box 1034GT, Grand Cayman, be and
are hereby appointed joint liquidators, to act jointly and
severally, for the purposes of such winding up.

Creditors of the Company are to prove their debts or claims on
or before January 28, 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

CONTACT:  Mr. Linburgh Martin, Joint Voluntary Liquidator
          Neil Gray
          Close Brothers (Cayman) Limited
          Fourth Floor, Harbour Place
          P.O. Box 1034GT, Grand Cayman
          Telephone: (345) 949-8455
          Facsimile: (345) 949-8499


VCM LIMITED: Verification Phase to End Jan. 30
----------------------------------------------
                          VCM Limited
                   (In Voluntary Liquidation)
                The Companies Law (2004 Revision)

The following special resolution was passed by the shareholder
of VCM Limited at an extraordinary general meeting of the
shareholder held on December 9, 2005:

RESOLVED THAT the Company be voluntarily wound up and that
Kareen Watler and Sylvia Lewis be and are hereby appointed as
liquidators of the Company for that purpose.

Creditors of the Company are to prove their debts or claims on
or before January 30, 2006, and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

Date of Liquidation: December 9, 2005

CONTACT:  Ms. Kareen Watler and Ms. Sylvia Lewis
          Joint Voluntary Liquidators
          P.O. Box 1109GT, Grand Cayman
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


VENTURE CAPITAL: Liquidators to Verify Claims
---------------------------------------------
              Venture Capital Investments Limited
                  (In Voluntary Liquidation)
               The Companies Law (2004 Revision)

The following special resolution was passed by the shareholder
of Venture Capital Investments Limited at an extraordinary
general meeting of the shareholder held on December 9, 2005:

RESOLVED THAT the Company be voluntarily wound up and that
Kareen Watler and Sylvia Lewis be and are hereby appointed as
liquidators of the Company for that purpose.

Creditors of the Company are to prove their debts or claims on
or before January 30, 2006 and to establish any title they may
have under the Companies Law (2004 Revision), or to be excluded
from the benefit of any distribution made before the debts are
proved or from objecting to the distribution.

Date of Liquidation: December 9, 2005

CONTACT:  Ms. Kareen Watler and Ms. Sylvia Lewis
          Joint Voluntary Liquidators
          P.O. Box 1109GT, Grand Cayman
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634



WINTHROP U.S.: Creditors Given 30 Days to Prove Claims
------------------------------------------------------
              Winthrop U.S. Fixed Income Fund, Ltd
                   (In Voluntary Liquidation)
                   Companies Law (As Amended)

TAKE NOTICE THAT the following resolution was passed by the
shareholders of the Company by written resolution dated December
14, 2005:

RESOLVED that the Company be voluntarily wound up and John
Cullinane and Derrie Boggess c/o Walkers SPV Limited, P.O. Box
908, George Town, Grand Cayman, Cayman Islands, be appointed as
joint liquidators to act for the purposes of such winding up.

NOTICE IS HEREBY GIVEN that the creditors of the Company which
is being wound up voluntarily are required within 30 days of the
publication of this notice, to send in their names and addresses
and the particulars of their debts and claims and the names and
addresses of their attorneys-at-law (if any) to the undersigned.
In default thereof, they will be excluded from the benefit of
any distribution made before such debts are proved.

Date of Publication: December 16, 2005

CONTACT:  John Cullinane and Derrie Boggess
          Joint Voluntary Liquidators
          c/o Walkers SPV Limited
          Walker House, P.O. Box 908
          George Town, Grand Cayman
          Telephone: (345) 914-6305


YELLOW SUBMARINE: Enters Voluntary Liquidation
----------------------------------------------
                    Yellow Submarine Ltd.
                 (In Voluntary Liquidation)
              The Companies Law (2004 Revision)

TAKE NOTICE that the following special written resolution
(resolution 1) and ordinary resolution (resolution 2) were
passed by the shareholder of Yellow Submarine Ltd. at an
extraordinary general meeting on December 16, 2005:

THAT the Company be placed in voluntary winding up and that
Commerce Corporate Services Limited be appointed as liquidator
of the Company.

Date of Liquidation: January 30, 2006

CONTACT:  Commerce Corporate Services Limited
          Voluntary Liquidator
          Commerce Corporate Services Limited
          P.O. Box 694GT, Grand Cayman
          Cayman Islands
          Telephone: 949-8666
          Facsimile: 949-0626



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

TELECOM: Comverse to Provide New Billing Software
-------------------------------------------------
CSG Software, a subsidiary of US software and systems supplier
Comverse, signed a US$16.1-million agreement to provide
Colombian state-run telco Colombia Telecomunicaciones (Telecom)
with a new billing software, reports Business News Americas.

The software will replace the more than 50 independent systems
that Telecom currently uses for this purpose. It will also be
capable of handling mobile telephony billing, an area into which
the company hopes to expand.

Work on the system is slated to begin in February 2006 and end
by April 2008.



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

CALPINE CORP: Court OKs Continuing Intercompany Transactions
------------------------------------------------------------          
Prior to the Petition Date, Calpine Corporation and its debtor-
affiliates and their non-debtor affiliates engaged in
intercompany financial transactions in the ordinary course of
business. Transfers of cash to and from appropriate bank
accounts were made on account of the intercompany transactions,
which typically included payments for the funding, if necessary,
of the Debtors' and non-debtor affiliates' working capital
requirements, as well as reimbursement to Calpine Corporation or
Calpine Energy Services, L.P., of the costs relating to
administrative and operational services provided to power
generating companies or alternative fuel and generation and
processing projects at actual cost.

The Debtors believe that the continuation of the intercompany
transactions is beneficial to the estates and creditors and
should therefore be permitted.  Additionally, if the
intercompany transactions were discontinued, a number of
services currently provided by the Debtors to other Debtors and
non-debtor affiliates would be disrupted.  

On an interim basis, the U.S. Bankruptcy Court for the Southern
District of New York allows the Debtors to continue the
intercompany transfers subject to the provisions of the DIP
Financing Order and the Cash Collateral Order.

Richard M. Cieri, Esq., at Kirkland & Ellis LLP, in New York,
notes that at any given time, there may be balances due and
owing from one Debtor to another Debtor and between certain
Debtors and the non-debtor affiliates.  These balances represent
extensions of intercompany credit made in the ordinary course of
business that are an essential component of the Cash Management
System.

Pursuant to Sections 503(b)(1) and 364(b) of the Bankruptcy
Code, The Honorable Burton R. Lifland of the Bankruptcy Court
for the Southern District of New York rules that all
Intercompany Claims, to the extent that the claims are held by a
Debtor or Non-debtor Affiliate against a Debtor, are accorded
administrative expense status, subject to the provisions of the
DIP Order and the Cash Collateral, as applicable.

Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities  
with electricity from clean, efficient, natural gas-fired and
geothermal power plants.  Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces.  Its customized products and services
include wholesale and retail electricity, gas turbine components
and services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services.  The Company filed for chapter 11 protection on Dec.
20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200).  Richard M.
Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq., and
Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts.  As of Dec. 19, 2005,
the Debtors listed $26,628,755,663 in total assets and
$22,535,577,121 in total liabilities. (Calpine Bankruptcy News,
Issue No. 2; Bankruptcy Creditors' Service, Inc., 215/945-7000)


EMPRESAS ICA: Seeks Greater Participation in Infra Tenders
----------------------------------------------------------
An executive at construction firm Empresas ICA has asked the
financial system to provide more attractive interest rates for
loans and longer terms for national companies, reports Business
News Americas.

ICA housing and infrastructure operations VP Luis Zarate made
the request in light of the long-term service provision projects
(PPS) through which the government aims to build infrastructure
with the private sector.

"We don't want protectionism because that cannot be requested in
a globalized world. We want opportunities, a fair playing field,
support, very clear rules and greater national participation in
bidding processes," said Mr. Zarate.

Infrastructure works to be offered for tenders under the PPS
scheme in the remainder of President Vicente Fox's term are
worth US$15 billion. These projects include 15 highways, seven
hospitals and four polytechnic universities, among others.

CONTACT: Empresas ICA Sociedad Controladora S.A. de C.V.
         Col. Escandon Del Migual Hidalgo
         Mexico City, 11800
         Mexico
         Phone: 525-272-9991
         URL: http://www.ica.com.mx




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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
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Copyright 2006.  All rights reserved.  ISSN 1529-2746.

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