TCRLA_Public/070827.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

           Friday, August 24, 2007, Vol. 8, Issue 168

                          Headlines

A R G E N T I N A

ALITALIA SPA: Chairman Sets Union Meeting to Tackle Sale
ALITALIA SPA: Hikes July 2007 Cargo Traffic by 4%
CLINICA PRIVADA: Proofs of Claim Verification is Until Sept. 28
CONSTRUCTORA SAN JOSE: Trustee to File General Report on Monday
DELTA AIR: Appoints Richard Anderson as Chief Executive Officer

EMBOTELLADORA TIGRE: Claims Verification Deadline is Oct. 23
EMPRESA DE OMNIBUS: Trustee to File General Report on Monday
GLASOR SA: Proofs of Claim Verification Deadline is Sept. 21
GRAFICA INTEGRAL: Proofs of Claim Verification is Until Oct. 17
GRUPO OESTE: Trustee Filing General Report on Monday

INNOVAR GROUP: Trustee To File General Report on Monday
LOMAS DE SAN ANTONIO: Claims Verification Deadline is Oct. 5
PIZZERIA BABIECA: Creditors Voting on Settlement Plan on Monday
SKYY MEDIA: Proofs of claim Verification Deadline is Sept. 19
TELECOM ARGENTINA: Telefonica May Influence Firm's Decisions

TELEFONICA DE ARGENTINA: Snubs Comfer's Warning on Speedy TV
TRAFILGOM SRL: Proofs of Claim Verification Ends on Sept. 20
TYSON FOODS: Moody's Affirms Ba1 Corporate Family Rating
WR GRACE: PI Committee Wants Charter Oak as Financial Advisor


B A H A M A S

TUPPERWARE BRANDS: Board Declares 22 Cents Per Share Dividend


B E R M U D A

J.P. MORGAN: Sets Final General Meeting for Sept. 4
MAN MAC JACKOBSHORN 8: Sets Final General Meeting for Sept. 28
MAN MAC NORDEND: Will Hold Final General Meeting for Sept. 28
MAN MAC VORAB: Sets Final General Meeting for Sept. 28
NORTH AMERICAN: Proofs of Claim Due Today


B R A Z I L

ABN AMRO REAL: IFC OKs US$200-Million Credit Line for Projects
BANCO NACIONAL: Hikes 2007 Telecom Loans to BRL2.4 Billion
CA INC: Board Declares US$0.04 Per Share Quarterly Dividend
CA INC: Stockholders Re-Elect Board & Ratify KPMG as Accountants
FIAT SPA: Moody's Lifts All Ratings to Ba1 from Ba2

FORD MOTOR: Bear Stearns Wants to Buy Indian Financing Unit
TAM SA: S&P's Rates BB Long-Term Corp. Credit at BB
TELEMIG CELULAR: Telpart Shareholders Okay Sale to Vivo

* BRAZIL: Producing Two Mln. Barrels of Oil Per Day in 2007


C A Y M A N   I S L A N D S

ANTHRACITE BALANCED: Sets Final Shareholders Meeting Today
AQR FINANCIAL: Sets Final Shareholders Meeting Today
AQR GLOBAL: Will Hold Final Shareholders Meeting Today
AQR GLOBAL ASSET: Will Hold Final Shareholders Meeting Today
AQR GLOBAL FIXED: Sets Final Shareholders Meeting Today

AQR GLOBAL FIXED II: Sets Final Shareholders Meeting Today
AQR GLOBAL YIELD: Sets Final Shareholders Meeting Today
C60 CAPITAL: Will Hold Final Shareholders Meeting Today
CABLE & WIRELESS: Unit Says Networks Unaffected by Hurricane
CREAFIN FUND: Proofs of Claim Filing Ends Tomorrow

CROSS CREDIT: Proofs of Claim Filing is Until Today
CROSS CREDIT FUND: Proofs of Claim Must be Filed Today
CYGNUS ASSET: Proofs of Claim Filing Ends on Aug. 28
DIAMOND LINE: Sets Final Shareholders Meeting Today
EACM SELECT: Proofs of Claim Filing Deadline is Aug. 28

FRONTIER IV: Proofs of Claim Must be Filed by Aug. 26
MORANE INVESTMENTS: Sets Final Shareholders Meeting Today
PARMALAT SPA: Sells Spanish Operations to Lacteos Siglo
PARMALAT SPA: Boschi Food & Beverage Acquires Business Assets
ROYALTY INCOME: Will Hold Final Shareholders Meeting Today

SAFEWRITE (CAYMAN): Sets Final Shareholders Meeting Today
SAMA DEVELOPMENTS: Sets Final Shareholders Meeting Today
WHITE RIVER: Will Hold Final Shareholders Meeting Today


C H I L E

ARAMARK CORP: Moody's Assigns SGL-2 Liquidity Rating


TECH DATA: Earns US$7.2 Mln Net Income in Second Quarter 2007


C O L O M B I A

BANCOLOMBIA SA: Hernan Ramirez Quits as Administrative VP
SOLUTIA INC: Wants Court Approval on Chemical Plant Agreement
SOLUTIA INC: Inquip Associates Wants Adequate Protection

* COLOMBIA: Gets US$300-Mil. Loan to Widen Rural Competitiveness


C O S T A   R I C A

US AIRWAYS: Court Okays Stipulation w/ United on Code Share Pact


D O M I N I C A N   R E P U B L I C

AES CORP: Dominican Subsidiary Restarts Operations
BANCO INTERCONTINENTAL: Jose Malkun to Testify in Fraud Case


E C U A D O R

FREEPORT-MCMORAN: Indonesian Unit Must Prepare Compromising Deal
FREEPORT-MCMORAN: Atticus Capital Increases Stake


E L   S A L V A D O R

* EL SALVADOR: Regulator Completes Probe on Three Power Firms


G U A T E M A L A

ALCATEL-LUCENT: Messrs. D'Amelio and Quigley Resigns


H O N D U R A S

* HONDURAS: Hondutel's Financial Statements Needed in Probe


J A M A I C A

WORLDSPAN LP: Completes US$1.4 Billion Sale Deal with Travelport


M E X I C O

ACXIOM CORP: Inks with Goodmail to Provide CertifiedEmail Access
BALLY TOTAL: Landlords Balk at Amended US$292,000,000 DIP Pact
CKE RESTAURANTS: Reports Positive Blended Same-Store Sales
CORPORACION DURANGO: Amends Terms of Tender Offer on Sr. Notes
DURA AUTOMOTIVE: Pacificor Backstop Rights Pact Gets Court Okay

DURA AUTO: Summary of Terms of Proposed Stockholders' Agreement
QUAKER FABRIC: Organizational Meeting Scheduled on Aug. 28
TIMKEN CO: Closes Repair Service Deal with Weir Canada


P A N A M A

AES CORP: El Salvador Regulator Completes Probe on Firm's Unit


P E R U

WORLDSPAN LP: Travelport Buy Cues S&P to Withdraw All Ratings


P U E R T O   R I C O

COVENTRY HEALTH: Prices US$400-Million Senior Notes Offering
COVENTRY HEALTH: Moody's Puts Ba1 Rating on US$300-Mln Sr. Debt
DORAL FINANCIAL: Soleil Reduces Rating on Firm's Shares to Sell
EDWIN MOLINA: Case Summary & 19 Largest Unsecured Creditors
FOOT LOCKER: Incurs US$18 Million Net Loss in Qtr. Ended Aug. 4

GLOBAL HOME: Committee Objects to Exclusivity Extension Plea
HORIZON LINES: Acquires Calif-Based Aero Logistics
INYX USA: Court Approves Klehr Harrison as Committee's Counsel
MUSICLAND HOLDING: Bank Wants Vendors Rule 2019 Statement Filed
MUSICLAND HOLDING: LSTA & SIFMA Denounce Wachovia's 2019 Motion

PEP BOYS: Earns US$4.2 Million in Second Quarter Ended Aug. 4
POPULAR INC: Paying US$0.16/Share Dividend on October 1
STANDARD MOTOR: Okays US$3.3-Mln Stock Repurchase Program Add On


T R I N I D A D   &   T O B A G O

INVACARE CORP: Declares Dividend on Common Shares Due Oct. 12


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Will Drill New Well Offshore


                            - - - - -

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


ALITALIA SPA: Chairman Sets Union Meeting to Tackle Sale
--------------------------------------------------------
Alitalia S.p.A. chairman Maurizio Prato will meet trade unions
on Sept. 3, 2007, to discuss the strategy to sell the ailing
carrier, the Financial Times reports citing a spokesman for the
airline.

Mr. Prato will resume talks with potential buyers for the
Italian government's 39.9% stake in Alitalia by either the end
of this month or early September, FT says citing a source privy
to the carrier.

According to FT, possible buyers include AirOne, TPG Capital,
Air France-KLM and OAO Aeroflot.

Alitalia's spokesperson, meanwhile, confirmed that AZ Servizi,
the carrier's spun off ground service unit, will underwrite a
EUR62.6 million capital increase.

As reported in the TCR-Europe on Aug. 8, 2007, Mr. Prato plans
to restructure AZ Servizi as part of the business plan to
turnaround the national carrier.

Mr. Prato eyes to reacquire parts of AZ Servizi back to
Alitalia, like maintenance services and handling activities,
after the units have been restructured.  Mr. Prato also plans to
sell parts of AZ Servizi, like airport handling, computer
services, and call center activities, the report adds.

The unions, however, are averse to the plan, FT relates citing
local press.

                          About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The company also operates in
Argentina, China, and Japan, among others.  The Italian
government owns 49.9% of Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, and EUR168 million in 2005.


ALITALIA SPA: Hikes July 2007 Cargo Traffic by 4%
-------------------------------------------------
Alitalia S.p.A. has released its July 2007 traffic data with
comparative analysis with the same period in 2006.

The data showed an increase in cargo business and no difference
in passenger business.

Passenger business showed both levels of capacity offered
(-0.1%) and traffic in line with the same period of 2006.

July 2007 Cargo statistics, compared to July 2006, showed an
increase in terms of goods flown (+4%) with capacity offered
decreased by 5.6%.

                      Passengers Operations

Traffic, measured in Revenue Passenger Kilometers, and capacity
offered, measured in Available Seat Kilometers, showed levels in
line with 2006.   Therefore load factor was in line with July
2006 (+0.1 percentage points) reaching 79.5%.

Alitalia carried 2.4 million passengers, up 2.4% compared to the
same period in 2006.

Detailed comparisons with July 2006:

   -- Domestic Passenger Network: traffic increased by 5.4% with
      capacity offered up 2.5%.  Load factor was 71.3%;

   -- International Passenger Network: traffic decreased by 0.7%
      and capacity offered decreased by 1.5%.  Load factor was
      77.3%.

   -- Intercontinental Passenger Network: traffic decreased by
      1.1% with capacity offered in line with July 2006.  Load
      factor was 84.2%.

                         Cargo Operations

July 2007 Cargo performance showed, compared to July 2006, a
traffic increase by 4% (measured in terms of Revenue Ton
Kilometers) with capacity offered decreased by 5.6%.

Overall Load factor was 66% with an increase by 6.1 percentage
points.

                          About Alitalia

Headquartered in Rome, Italy, Alitalia S.p.A. --
http://www.alitalia.it/-- provides air travel services for
passengers and air transport of cargo on national, international
and inter-continental routes.  The company also operates in
Argentina, China, and Japan, among others.  The Italian
government owns 49.9% of Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, and EUR168 million in 2005.


CLINICA PRIVADA: Proofs of Claim Verification is Until Sept. 28
---------------------------------------------------------------
Cersosimo, Lobato, Zingoni, the court-appointed trustee for
Clinica Privada del Nino y la Familia S.R.L.'s reorganization
proceeding, verifies creditors' proofs of claim on
Sept. 28, 2007.

Cersosimo, Lobato, Zingoni will present the validated claims in
court as individual reports on Nov. 9, 2007.  The National
Commercial Court of First Instance in Quilmes, Buenos Aires,
will determine if the verified claims are admissible, taking
into account the trustee's opinion, and the objections and
challenges that will be raised by Clinica Privada and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Clinica Privada's
accounting and banking records will be submitted in court on
Dec. 21, 2007.

Cersosimo, Lobato, Zingoni is also in charge of administering
Clinica Privada's assets under court supervision and will take
part in their disposal to the extent established by law.

The debtor can be reached at:

         Clinica Privada del Nino y la Familia S.R.L.
         Calle 843 Numero 2416, San Francisco Solano
         Partido de Quilmes, Buenos Aires
         Argentina

The trustee can be reached at:

         Cersosimo, Lobato, Zingoni"
         Alvear 498 Casillero 87
         Quilmes, Buenos Aires
         Argentina


CONSTRUCTORA SAN JOSE: Trustee to File General Report on Monday
---------------------------------------------------------------
Daniel B. R. Sanchez, the court-appointed trustee for
Constructora San Jose S.R.L.'s reorganization proceeding, will
submit a general report containing an audit of the company's
accounting and banking records in the National Commercial Court
of First Instance in Rivadavia on Aug. 27, 2007.

Mr. Sanchez verified creditors' proofs of claim until
May 2, 2007.  He presented the validated claims in court as
individual reports on June 22, 2007.

The debtor can be reached at:

          Constructora San Jose S.R.L.
          Bu Los Cipreses, Manzana A
          Casa 25, Rivadavia, Mendoza
          Argentina

The trustee can be reached at:

          Daniel B. R. Sanchez
          Vicuna Prado 32
          Rivadavia, Mendoza
          Argentina


DELTA AIR: Appoints Richard Anderson as Chief Executive Officer
---------------------------------------------------------------
Delta Air Lines Inc. has appointed Richard Anderson as its new
chief executive officer, replacing Gerald Grinstein effective
Sept. 1, 2007, Newratings.com reports.

Newratings.com relates that Mr. Anderson is a senior executive
at UnitedHealth Group and a board member of Delta Air.

Mr. Grinstein said in a statement that Mr. Anderson had an
extensive background in Asia and the Far East, part of Delta
Air's future "growth opportunities."

Mr. Anderson denied in a conference call that Delta Air has
plans to merge with Northwest.

According to Mr. Anderson, there may be some consolidation in
the industry in the long run, but this was not Delta Air's
current focus, Newratings.com relates.

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE:DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 502 destinations
in 88 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.  The
company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.  As of June 30, 2005, the
company's balance sheet showed US$21.5 billion in assets and
US$28.5 billion in liabilities.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.
On Jan 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 2007, the Court confirmed the
Debtors' plan.


EMBOTELLADORA TIGRE: Claims Verification Deadline is Oct. 23
------------------------------------------------------------
Mario Armando Lopez, the court-appointed trustee for
Embotelladora Tigre SA's bankruptcy proceeding, verifies
creditors' proofs of claim on Oct. 23, 2007.

Mr. Lopez will present the validated claims in court as
individual reports on.  The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of Clerk
No. 8, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Embotelladora Tigre and
its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Embotelladora Tigre's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Lopez is also in charge of administering Embotelladora
Tigre's assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

         Embotelladora Tigre SA
         Olazabal 2689
         Buenos Aires, Argentina

The trustee can be reached at:

         Mario Armando Lopez
         Teniente General Juan Domingo Peron 1610
         Buenos Aires, Argentina


EMPRESA DE OMNIBUS: Trustee to File General Report on Monday
------------------------------------------------------------
Estudio Momany Auditores y Consultores, the court-appointed
trustee for Empresa de Omnibus Benjamin Araoz S.R.L.'s
bankruptcy proceeding, will present a general report containing
an audit of the company's accounting and banking records in the
National Commercial Court of First Instance in San Miguel de
Tucuman on Aug. 27, 2007.

Estudio Momany verified creditors' proofs of claim until
April 16, 2007.  The trustee presented the validated claims in
court as individual reports on June 4, 2007.

Estudio Momany is also in charge of administering Empresa de
Omnibus' assets under court supervision and will take part in
their disposal to the extent established by law.

The debtor can be reached at:

         Empresa de Omnibus Benjamin Araoz S.R.L.
         Avenida de las Industrias y Cervino
         El Corte, Alderetes
         Departamento Cruz Alta (Tucuman)
         San Miguel de Tucuman
         Tucuman, Argentina

The trustee can be reached at:

         Estudio Momany Auditores y Consultores
         San Martin 107
         San Miguel de Tucuman
         Tucuman, Argentina


GLASOR SA: Proofs of Claim Verification Deadline is Sept. 21
------------------------------------------------------------
Graciela Lukawecki, the court-appointed trustee for Glasor
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim on Sept. 21, 2007.

Ms. Lukawecki will present the validated claims in court as
individual reports on Nov. 5, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Glasor and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Glasor's accounting
and banking records will be submitted in court on Dec. 17, 2007.

Ms. Lukawecki is also in charge of administering Glasor's assets
under court supervision and will take part in their disposal to
the extent established by law.

The trustee can be reached at:

         Graciela Lukawecki
         Uruguay 978
         Buenos Aires, Argentina


GRAFICA INTEGRAL: Proofs of Claim Verification is Until Oct. 17
---------------------------------------------------------------
Hector Francisco Presta, the court-appointed trustee for Grafica
Integral S.A.'s bankruptcy proceeding, verifies creditors'
proofs of claim on Oct. 17, 2007.

Mr. Presta will present the validated claims in court as
individual reports on Nov. 28, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Grafica Integral and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Grafica Integral's
accounting and banking records will be submitted in court on
Feb. 13, 2008.

Mr. Presta is also in charge of administering Grafica Integral's
assets under court supervision and will take part in their
disposal to the extent established by law.

The trustee can be reached at:

         Hector Francisco Presta
         Parana 467
         Buenos Aires, Argentina


GRUPO OESTE: Trustee Filing General Report on Monday
----------------------------------------------------
Nestor Rodolfo del Potro, the court-appointed trustee for
Grupo Oeste S.R.L.'s reorganization proceeding, will submit a
general report containing an audit of the company's accounting
and banking records in the National Commercial Court of First
Instance in Buenos Aires on Aug. 27, 2007.

Mr. del Potro verified creditors' proofs of claim until
May 15, 2007.  He presented the validated claims in court as
individual reports on June 28, 2007.

The trustee can be reached at:

          Nestor Rodolfo del Potro
          Avenida Corrientes 1291
          Buenos Aires, Argentina


INNOVAR GROUP: Trustee To File General Report on Monday
-------------------------------------------------------
Hugo Raul Juarez, the court-appointed trustee for Innovar Group
S.A.'s bankruptcy proceeding, will submit a general report that
contains an audit of the company's accounting and banking
records in the National Commercial Court of First Instance in
Buenos Aires on Aug. 27, 2007.

Mr. Juarez verified creditors' proofs of claim until
May 16, 2007.  He presented the validated claims in court as
individual reports on June 29, 2007.

Mr. Juarez is also in charge of administering Innovar Group's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

         Innovar Group S.A.
         Jujuy 449
         Buenos Aires, Argentina

The trustee can be reached at:

         Hugo Raul Juarez
         Ciudad de la Paz 2372
         Buenos Aires, Argentina


LOMAS DE SAN ANTONIO: Claims Verification Deadline is Oct. 5
------------------------------------------------------------
Juan Carlos De La Piedra, the court-appointed trustee for Lomas
de San Antonio S.A.'s reorganization proceeding, verifies
creditors' proofs of claim on Oct. 5, 2007.

Mr. De La Piedra will present the validated claims in court as
individual reports on Nov. 16, 2007.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the
trustee's opinion, and the objections and challenges that will
be raised by Lomas de San Antonio and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Clinica Privada's
accounting and banking records will be submitted in court on
Feb. 4, 2008.

Mr. De La Piedra is also in charge of administering Lomas de San
Antonio's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

         Juan Carlos De La Piedra
         Avenida Juan B. Justo 5096
         Buenos Aires, Argentina


PIZZERIA BABIECA: Creditors Voting on Settlement Plan on Monday
---------------------------------------------------------------
Pizzeria Babieca S.A.'s creditors will vote on a settlement plan
that the company will lay on the table on Aug. 27, 2007.

Juan Alberto Vazquez, the court-appointed trustee for Pizzeria
Babieca's reorganization case, verified creditors' proofs of
claim until Nov. 10, 2006.  Mr. Vazquez also submitted a general
report containing an audit of Pizzeria Babieca's accounting and
banking records.

The debtor can be reached at:

    Pizzeria Babieca S.A.
    Avenida Rafael Obligado, Costa Norte
    Buenos Aires, Argentina

The trustee can be reached at:

    Juan Alberto Vazquez
    Bartolome Mitre 2593
    Buenos Aires, Argentina


SKYY MEDIA: Proofs of claim Verification Deadline is Sept. 19
-------------------------------------------------------------
Diana Ines Panitch, the court-appointed trustee for Skyy Media
Group S.A.'s bankruptcy proceeding, verifies creditors' proofs
of claim on Sept. 19, 2007.

Ms. Panitch will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance in Buenos Aires will determine if the verified claims
are admissible, taking into account the trustee's opinion, and
the objections and challenges that will be raised by Skyy Media
Group and its creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Skyy Media's
accounting and banking records will be submitted in court.

Infobae didn't state the reports submission deadlines.

Ms. Panitch is also in charge of administering Skyy Media's
assets under court supervision and will take part in their
disposal to the extent established by law.

The debtor can be reached at:

         Skyy Media Group S.A.
         Lavalle 1675
         Buenos Aires, Argentina

The trustee can be reached at:

         Diana Ines Panitch
         Avenida Corrientes 1250
         Buenos Aires, Argentina


TELECOM ARGENTINA: Telefonica May Influence Firm's Decisions
------------------------------------------------------------
Spain's Telefonica S.A. could influence decision making in
Telecom Argentina due to its indirect control of Telecom Italia,
local news daily El Cronista reports, citing Argentine
investment group Grupo Werthein, one of the shareholders in
Telecom Argentina.

Sofora -- a consortium that is owned by Telecom Italia (50%),
the Werthein Group (48%), and France Telecom (2%) -- holds an
83% stake in Nortel Inversora, which in turn controls Telecom
Argentina with its 54.7% stake.

Telecom Argentina's vice president and Grupo Werthein executive
Gerardo Werthein commented in a note to the Buenos Aires stock
exchange, "Such conditions [modifications in Telecom's control
structure] could lead one to presume that could impact decision
making in the company [Telecom Argentina]."

Business News Americas relates that a consortium of Italian
companies and Telefonica agreed on April 28, 2007, to indirectly
acquire a 23.6% controlling stake in Telecom Italia.  The group
entered Telecom Italia by acquiring the controlling shareholder
Olimpia from Italian holding firms Pirelli and Sintonia for
EUR4.1 billion.

BNamericas notes that Olimpia owned an 18% controlling share of
Telecom Italia.

The consortium formed new holding firm Telco, BNamericas says,
citing Mr. Werthein.  Since then, Telefonica has insisted the
acquisition would not affect markets like Argentina and Brazil,
where it and Telecom Italia are competitors.  The acquisition
accord stipulated that the two companies would be managed
autonomously and independently in nations where the companies
compete.

Mr. Werthein admitted to BNamericas that there are no guarantees
this will be the case.  Telefonica said the operation will let
it control 1.5% of Telecom Argentina.

"Although Olimpia has no more than 50% of shares with voting
rights it has a dominant influence on all issues to be decided
by vote of Telecom Italia's shareholders," Mr. Werthein said in
a note to the Buenos Aires stock exchange.

Mr. Werthein told BNamericas that Olimpia appointed 15 out of
Telecom Italia's 19 directors during a shareholders meeting held
in April.

Telefonica has a "relatively diluted stake in Telecom Argentina,
BNamericas says, citing Telecoms consultancy Signals Consulting
vice president Juan Gnius.  If Telefonica were to decide to
boost its stake in Telecom Argentina's capital, "that would
oblige Grupo Werthein to make similar investments or risk seeing
its stake and influence diminish."

Brazilian telecoms regulator Anatel would rule on the local
implications of the acquisition in September 2007, reporters
state, citing Mr. Gnius.

                         About Telefonica

Telefonica, S.A., together with its subsidiaries and investees
Telefonica Group, operates mainly in the telecommunications,
media and entertainment industries.  The Telefonica Group is
also involved in the media and contact center activities through
investments in Telefonica de Contenidos and Atento.  The company
operates through three segments: Telefonica Spain, Telefonica
Europe and Telefonica Latin America.  Telefonica Spain oversees
the wireline and wireless telephony, broadband and data
businesses in Spain.  Telefonica Latin America oversees the same
businesses in Latin America.  Telefonica Europe oversees the
wireline, wireless, broadband and data businesses in the United
Kingdom, Germany, the Isle of Man, Ireland, the Czech Republic
and the Slovak Republic.

                      About Telecom Argentina

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- is the fixed-line
operator for local and long-distance services in northern and
southern Argentina.  It also provides cellular and PCS phone
services in Argentina, as well as in Paraguay through a 68%
stake in Nocleo.  France Telecom formerly controlled the company
through its Nortel Inversora venture with Telecom Italia.
France Telecom sold most of its stake in 2003 to the Werthein
Group, an Argentine agricultural concern owned in part by vice
chairman Gerardo Werthein.  Nortel continues to be Telecom
Argentina's largest shareholder with a 55% stake.  Nortel is
owned by Sofora, a consortium owned by Telecom Italia (50%), the
Werthein Group (48%), and France Telecom (2%).

                        *     *     *

As reported on Oct 11, 2006, Standard & Poor's Ratings Services
raised Telecom Argentina S.A.'s counterparty credit rating to
B+/Stable/ from B/Stable following the upgrade of the Republic
of Argentina to 'B+' from 'B'.


TELEFONICA DE ARGENTINA: Snubs Comfer's Warning on Speedy TV
------------------------------------------------------------
Telefonica de Argentina has ignored the Argentine federal
broadcasting committee Comfer's warning that it is not allowed
to launch Internet protocol television service Speedy TV, news
daily El Cronista reports.

Business News Americas relates that Mr. Caride announced in
December 2006 that Telefonica de Argentina would invest some
ARS300 million for the launching of Speedy TV by the end of
2007.

Comfer's chief Julio Barbaro threatened in July to confiscate
Telefonica de Argentina's license if the company proceeds with
the launching of Speedy TV without authorization, BNamericas
says.

Telefonica de Argentina promised to continue preparing for the
launching of the service, El Cronista notes.

Telefonica de Argentina Chief Executive Officer Eduardo Caride
told El Cronista, "We will continue investing and conducting
tests."

Mr. Caride denied to BNamericas that the concession license
Telefonica de Argentina inherited from the former state monopoly
Entel prevents it from broadcasting content.  According to Mr.
Caride, Telefonica de Argentina wouldn't be broadcasting.  It
would just let broadcasted content be viewed over its network
infrastructure.

Argentina shouldn't ignore trends occurring in the US, Europe
and Asia "or it will risk falling behind," BNamericas says,
citing Mr. Caride.  It would be unjust to let cable operators
offer telephony services while telecoms can't offer television.

The Argentine government told BNamericas that it is drawing up a
reform in the telecommunications law to let operators offer
bundled services of television, voice and internet over a single
network.

Headquartered in Buenos Aires, Argentina, Telefonica de
Argentina SA -- http://www.telefonica.com.ar/-- provides
telecommunication services, which include telephony business
both in Spain and Latin America, mobile communications
businesses, directories and guides businesses, Internet, data
and corporate services, audiovisual production and broadcasting,
broadband and Business-to-Business e-commerce activities.

                        *     *     *

As reported in the Troubled Company Reporter on Jan. 22, 2007,
Moody's Latin America changed the rating outlook to positive
from stable for Telefonica de Argentina's foreign currency
rating of B2 and for the Aa3.ar (national scale rating).  The
rating action was taken in conjunction with Moody's outlook
change to positive from stable for Argentina's B2 foreign
currency ceiling for bonds and notes on Jan. 16, 2007.
Telefonica de Argentina's foreign currency rating continues to
be constrained by Argentina's B2 ceiling.


TRAFILGOM SRL: Proofs of Claim Verification Ends on Sept. 20
------------------------------------------------------------
Hector Rodolfo Arzu, the court-appointed trustee for Trafilgom
SRL's bankruptcy proceeding, verifies creditors' proofs of claim
on Sept. 20, 2007.

Mr. Arzu will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk
No. 9, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections
and challenges that will be raised by Trafilgom and its
creditors.

Inadmissible claims may be subject for appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Trafilgom's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Mr. Arzu is also in charge of administering Trafilgom's assets
under court supervision and will take part in their disposal to
the extent established by law.

The debtor can be reached at:

         Trafilgom SRL
         Decay 1457
         Buenos Aires, Argentina

The trustee can be reached at:

         Hector Rodolfo Arzu
         Junin 55
         Buenos Aires, Argentina


TYSON FOODS: Moody's Affirms Ba1 Corporate Family Rating
--------------------------------------------------------
Moody's Investors Service has upgraded the speculative grade
liquidity rating of Tyson Foods, Inc. to SGL-2 from SGL-3 based
on the company's stronger cash flow generating ability given its
cost cutting measures and improving protein markets.  Tyson's
other ratings, including its Ba1 corporate family rating and Ba1
probability of default rating, were affirmed.  The rating
outlook is negative.

Rating upgraded:

Tyson Foods, Inc.

  -- Speculative grade liquidity rating to SGL-2 from SGL-3
  -- Ratings affirmed

Tyson Foods, Inc.

  -- Corporate family rating at Ba1
  -- Probability of default rating at Ba1
  -- US$1 billion senior unsecured bank credit agreement,
     guaranteed by Tyson Fresh Meats, Inc., at Ba1 (LGD3, 44%)
  -- US$1 billion 6.06% senior unsecured notes due 2016,
     guaranteed by Tyson Fresh Meats, Inc., at Ba1 LGD3, 44%)
  -- Senior unsecured unguaranteed debt at Ba2 (LGD5, 88%)
  --  Senior unsecured unguaranteed shelf at (P)Ba2 (LGD5, 88%).

  Tyson Fresh Meats, Inc.

  -- Senior unsecured debt, guaranteed by Tyson Foods, Inc., at
     Ba1 (LGD3,44%)

  Lakeside Farms Industries Ltd.

  -- US$195 million (originally US$353 million) senior unsecured
     term loan, guaranteed by Tyson Foods, Inc. and Tyson Fresh
     Meats, Inc., at Ba1 (LGD3, 44%).

Ratings affirmed, LGD rates adjusted:

  Tyson Foods, Inc.

  -- Senior secured industrial revenue bonds, guaranteed by
     Tyson Foods, Inc., at Baa2 (LGD2); LGD rate adjusted to 15%
     from 14%

  Tyson Fresh Meats, Inc.

  -- Senior secured industrial revenue bonds, guaranteed by
     Tyson Fresh Meats, Inc. at Baa2 (LGD2)

LGD rated adjusted to 15% from 14% Tyson's earnings and cash
flow can be volatile due to its exposure to commodity chicken,
beef and pork markets, and due to seasonality.

However, noted lead Analyst Elaine Francolino, "Moody's
anticipates that the company's free cash flow will more than
cover its working capital, capital expenditures, dividends and
scheduled debt payments over the next 12 months, although
cushion is likely to be modest at seasonal low points."

Tyson maintains a US$1 billion five year revolving credit
facility expiring in September 2010 and two US$375 million
accounts receivable securitization facilities expiring in August
2008 and August 2010 respectively.  The securitization
facilities contain a rating trigger stipulating that if Tyson's
ratings fall to Ba3 from Moody's or BB- from S&P, then, barring
an amended facility, the banks sponsoring the program could
refuse to purchase any additional receivables from Tyson and the
program could unwind.  Moody's expects Tyson to meet its
financial covenants, with cushion.  Since Tyson's credit
facility is unsecured, it could sell a number of operations and
facilities to raise cash and improve liquidity if necessary.

Tyson's Ba1 corporate family rating incorporates several
elements of the company's overall business profile that are very
strong - such as its size, diversification, and market share -
and consistent with a mid-investment grade rating.  However,
these elements are more than offset by the severe volatility of
the company's earnings and cash flow and its weak, though
improving, debt protection measures which score well below
investment grade.  Although Tyson is making progress towards
the credit ratios Moody's has cited for stabilization of its
negative rating outlook, it has not yet met these hurdles in
full and global protein markets remain highly volatile, while
the high cost of corn and other inputs will continue to pressure
margins for the industry.

Tyson Foods, Inc., headquartered in Springdale, Arkansas, is the
world's largest processor of chicken, beef, and pork products
with sales of approximately US$26.5 billion for the twelve
months ended June 30, 2007.

Based in Springdale, Arkansas, Tyson Foods, Inc. (NYSE:TSN) --
http://www.tysonfoods.com/-- is a processor and marketer of
chicken, beef, and pork.  The company produces a wide variety of
protein-based and prepared food products, which are marketed
under the "Powered by Tyson(TM)" strategy.

The company has operations in China, Japan, Singapore, South
Korea, and Taiwan.  In Latin America, Tyson Foods has operations
in Argentina.


WR GRACE: PI Committee Wants Charter Oak as Financial Advisor
-------------------------------------------------------------
The Official Committee of Asbestos Personal Injury Claimants of
W.R. Grace & Co. and its debtor-affiliates has retained L.
Tersigni Consulting, P.C., as its financial advisor
since 2001.

In May 2007, Mr. Tersigni died.  After Mr. Tersigni's death,
Elihu Inselbuch, Esq., at Caplin & Drysdale Chartered, in New
York, lead counsel for the PI Committee, discovered that, in fee
applications filed in the bankruptcy courts, Mr. Tersigni had
arbitrarily increased time entries submitted by its employees.

Because of this discovery, the PI Committee withdrew pending
applications filed by L. Tersigni and saw to it that no further
payments were to be made to the firm.  The PI Committee also
terminated its engagement of L. Tersigni.

Mr. Inselbuch tells the U.S. Bankruptcy Court for the District
of Delaware that Bradley Rapp, James Sinclair, and Robert
Lindsay, all former senior professionals at L. Tersigni, have
offered financial advisory services to the PI Committee through
a new firm, Charter Oak Financial Consultants, LLC.

The PI Committee believes that hiring Charter Oak will allow
them to retain the benefit of Messrs. Rapp, Sinclair, and
Lindsay's knowledge of issues and information significant to the
case while avoiding delays that would be incurred if the PI
Committee were forced to find and hire another firm.

Thus, the PI Committee seeks the Court's authority to retain
Charter Oaks as its financial advisor, nunc pro tunc to July 30,
2007.

As financial advisor, Charter Oak will:

  (a) oversee the PI Committee's fulfillment of its
      responsibilities by monitoring the financial affairs of
      the Debtor's and their affiliates and subsidiaries;

  (b) interpret and analyze financial materials, including
      accounting, tax, statistical, financial and economic data,
      regarding the Debtors;

  (c) analyze and advice the PI Committee regarding accounting,
      financial, valuation, and related issue that may arise in
      the course of the proceeding;

  (d) assist the PI Committee's co-counsel in the evaluation and
      preparation of avoidance power claims and any other
      potential litigation, as requested;

  (e) analyze and advice regarding settlement negotiations and
      any potential plan of reorganization; and

  (f) testify as an expert on financial matters, if requested.

Charter Oak will be paid for its services based on the firm's
hourly billing rates:

         Professional               Hourly Rate
         ------------               -----------
         Senior Managing Directors    US$535
         Director                     US$500
         Analyst                      US$200

The PI Committee believes that Charter Oak is "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code.

                        About W.R. Grace

Headquartered in Columbia, Md., W.R. Grace & Co. (NYSE:GRA)
-- http://www.grace.com/-- supplies catalysts and silica
products, especially construction chemicals and building
materials, and container products globally, including
Argentina, Australia and Ireland.

The Company and its debtor-affiliates filed for chapter 11
protection on April 2, 2001 (Bankr. D. Del. Case No. 01-01139).
James H.M. Sprayregen, Esq., at Kirkland & Ellis, and Laura
Davis Jones, Esq., at Pachulski, Stang, Ziehl, Young, Jones &
Weintraub, P.C., represent the Debtors in their restructuring
efforts.  The Debtors hired Blackstone Group, L.P., for
financial advice.  PricewaterhouseCoopers LLP is the Debtors'
accountant.

Stroock & Stroock & Lavan LLP represent the Official Committee
of Unsecured Creditors.  The Creditors Committee tapped Capstone
Corporate Recovery LLC for financial advice.  David T. Austern,
the legal representative of future asbestos personal injury
claimants, is represented by Orrick Herrington & Sutcliffe LLP
and Phillips Goldman & Spence, PA.  Anderson Kill & Olick, P.C.,
represent the Official Committee of Asbestos Personal Injury
Claimants.  The Asbestos Committee of Property Damage Claimants
tapped Martin W. Dies, III, Esq., at Dies & Hile L.L.P., and C.
Alan Runyan, Esq., at Speights & Runyan,to represent it.
Lexecon, LLP, provided asbestos claims consulting services to
the Official Committee of Equity Security Holders.

The Debtors' filed their Chapter 11 Plan and Disclosure
Statement on Nov. 13, 2004.  On Jan. 13, 2005, they filed an
Amended Plan and Disclosure Statement.  The hearing to consider
the adequacy of the Debtors' Disclosure Statement began on
Jan. 21, 2005.  The Debtors' exclusive period to file a chapter
11 plan expired on July 23, 2007.

At Dec. 31, 2006, the W.R. Grace's balance sheet showed total
assets of US$3,620,400,000 and total debts of US$4,189,100,000.
(W.R. Grace Bankruptcy News, Issue No. 136; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)




=============
B A H A M A S
=============


TUPPERWARE BRANDS: Board Declares 22 Cents Per Share Dividend
-------------------------------------------------------------
Tupperware Brands Corporation's board of directors has declared
the company's regular quarterly dividend of 22 cents per share,
payable on Oct. 1, 2007, to shareholders of record as of
Sept. 12, 2007.

                   About Tupperware Brands

Tupperware Brands Corporation -- http://www.tupperware.com/--
is a global direct seller of premium, innovative products across
multiple brands and categories through an independent sales
force of approximately 1.9 million.  Tupperware's product brands
and categories include design-centric preparation, storage and
serving solutions for the kitchen and home through theTupperware
brand and beauty and personal care products through its Avroy
Shlain, BeautiControl, Fuller, NaturCare, Nutrimetics, Nuvo and
Swissgarde brands.

The company has operations in Indonesia, Argentina, Australia,
Bahamas, Brazil, China, France, Germany, Philippines, Spain, and
Sweden, among others.

                        *     *     *

On April 2007, Standard & Poor's Ratings Services
raised its recovery ratings on the senior secured credit
facilities of Tupperware Brands Corp. to '2' from '3',
indicating the expectation for substantial (80%-100%) recovery
of principal in the event of a payment default.

S&P also affirmed the corporate credit and loan ratings at 'BB'.




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


J.P. MORGAN: Sets Final General Meeting for Sept. 4
---------------------------------------------------
J.P. Morgan Corsair II Capital Partners Bermuda Ltd.'s final
general meeting is scheduled on Sept. 4, 2007, at 9:30 a.m., at:

       Clarendon House, Church Street
       Hamilton, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC JACKOBSHORN 8: Sets Final General Meeting for Sept. 28
--------------------------------------------------------------
Man Mac Jackobshorn 8B Ltd.'s final general meeting is scheduled
on Sept. 28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC NORDEND: Will Hold Final General Meeting for Sept. 28
-------------------------------------------------------------
Man Mac Nordend 4A Ltd.'s final general meeting is scheduled on
Sept. 28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


MAN MAC VORAB: Sets Final General Meeting for Sept. 28
------------------------------------------------------
Man Mac Vorab 6B Ltd.'s final general meeting is scheduled on
Sept. 28, 2007, at 9:30 a.m., at:

       Argonaut House, 5 Park Road
       Hamilton HM O9, Bermuda

These matters will be taken up during the meeting:

    -- receiving an account showing the manner in which the
       winding-up of the company has been conducted and its
       property disposed of and hearing any explanation that
       may be given by the liquidator;

    -- determination by resolution the manner in which the
       books, accounts and documents of the company and of the
       liquidator shall be disposed; and

    -- passing of a resolution dissolving the company.


NORTH AMERICAN: Proofs of Claim Due Today
-----------------------------------------
North American Manufacturers Insurance Company Limited's
creditors are given until Aug. 24, 2007, to prove their claims
to Marco Montarsolo, the company's liquidator, or be excluded
from receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

North American's shareholders agreed on Aug. 6, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Marco Montarsolo
       Sofia House, 1st Floor
       48 Church Street, Hamilton
       Bermuda




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


ABN AMRO REAL: IFC OKs US$200-Million Credit Line for Projects
--------------------------------------------------------------
The International Finance Corp. said in a press release that it
has authorized an eight-year, US$200-million credit line to ABN
Amro Real to provide funding for environmental and socially
responsible projects.

Business News Americas relates that ABN Amro Real had received
two similar credit lines from IFC.

ABN Amro Real specializes in commercial banking, capital
markets, corporate banking, asset management, and trade finance.
Its more than 22,000 employees assist over five million clients
throughout five thousand different points of sales.  In 1999,
the bank merged with Brazil's Banco Real.  The regional office
for Latin America and the Caribbean is located in Brazil.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept 4, 2006, Moody's Investors Service upgraded Banco ABN AMRO
Real S.A.'s long-term foreign currency deposits to Ba3, from B1.
Moody's said the rating outlook was stable.


BANCO NACIONAL: Hikes 2007 Telecom Loans to BRL2.4 Billion
----------------------------------------------------------
Banco Nacional de Desenvolvimento Economico e Social SA will
grant BRL2.4 billion in loans to the telecoms sector in 2007,
compared to BRL2.09 billion last year, news service Agencia
Estado reports.

Banco Nacional's head of telecoms Alan Fischler told Business
News Americas that the sector represents 4% of the bank's total
loans, which are expected to total BRL60 billion in 2007.

Banco Nacional's loans to the telecoms sector may continue to
grow in the short term as the sector uses third generation,
WiMax and Internet protocol technology, BNamericas states,
citing Mr. Fischler.

Banco Nacional de Desenvolvimento Economico e Social is Brazil's
national development bank.  It provides financing for projects
within Brazil and plays a major role in the privatization
programs undertaken by the federal government.

                        *     *     *

As reported on Nov. 27, 2006, Standard & Poor's Ratings Services
changed the ratings outlook to Positive from Stable on Banco
Nacional de Desenvolvimento Economico e Social SA's BB Foreign
currency counterparty credit rating and BB+ Local currency
counterparty credit rating.


CA INC: Board Declares US$0.04 Per Share Quarterly Dividend
-----------------------------------------------------------
CA Inc.'s Board of Directors has declared a regular, quarterly
cash dividend of US$0.04 per share.  The dividend will be paid
on Sept. 26, 2007 to stockholders of record at the close of
business on Sept. 12, 2007.

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management
software company that unifies and simplifies the management of
enterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.  The company has operations in Brazil,
Indonesia, Luxembourg, Philippines and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 7, 2007, Standard & Poor's Rating Services affirmed its
'BB' corporate credit and senior unsecured debt ratings on
Islandia, New York-based CA Inc.  S&P revised the outlook to
stable from negative.

As reported in the Troubled Company Reporter-Latin America on
May 31, 2007, Fitch has affirmed these ratings for CA, Inc.:

     -- Issuer Default Rating at 'BB+';

     -- Senior unsecured revolving credit facility expiring 2008
        at 'BB+';

     -- Senior unsecured debt at 'BB+'.


CA INC: Stockholders Re-Elect Board & Ratify KPMG as Accountants
----------------------------------------------------------------
CA Inc. disclosed the preliminary results of stockholder voting
at its 2007 Annual Meeting of Stockholders.  The company
reported that approximately 91 percent of the outstanding shares
were represented either in person or by proxy at the meeting.

CA stockholders voted to elect all twelve members of the Board
of Directors for one-year terms.  CA's preliminary results
indicate that all of the directors received between
approximately 88 and 99 percent of the votes cast.  Stockholders
also ratified the Stockholder Protection Rights Agreement,
ratified the appointment of KPMG LLP as the Company's
independent registered public accountants for the fiscal year
ending March 31, 2008, and approved the 2007 Incentive Plan.  A
stockholder proposal to amend the by-laws to require
ratification of chief executive officer compensation by a
supermajority of independent Board members was not adopted.

Headquartered in Islandia, New York, CA Inc. (NYSE:CA) --
http://www.ca.com/-- is an information technology management
software company that unifies and simplifies the management of
enterprise-wide IT.  Founded in 1976, CA serves customers in
more than 140 countries.  The company has operations in Brazil,
Indonesia, Luxembourg, Philippines and Thailand.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 7, 2007, Standard & Poor's Rating Services affirmed its
'BB' corporate credit and senior unsecured debt ratings on
Islandia, New York-based CA Inc.  S&P revised the outlook to
stable from negative.

As reported in the Troubled Company Reporter-Latin America on
May 31, 2007, Fitch has affirmed these ratings for CA, Inc.:

     -- Issuer Default Rating at 'BB+';

     -- Senior unsecured revolving credit facility expiring 2008
        at 'BB+';

     -- Senior unsecured debt at 'BB+'.


FIAT SPA: Moody's Lifts All Ratings to Ba1 from Ba2
---------------------------------------------------
Moody's Investors Service has upgraded to Ba1 from Ba2 Fiat
SpA's Corporate Family Rating, and the group's other long-term
senior unsecured ratings.  At the same time, the positive
outlook on all long-term ratings was maintained.  The short term
Not Prime rating remains unchanged.

Falk Frey, Senior-Vice-President and the lead analyst at Moody's
for the European automotive sector, said: "Fiat is continuing on
its successful path towards a sustainable recovery of its
financial profile in the first half year 2007 mainly driven by
further operating improvements at Fiat Group Automobiles but
also higher contributions from all other industrial businesses
in particular Iveco and CNH."

Mr. Frey went on to say, "Moody's believes that 2008 will be
more challenging for Fiat, as the strengthening competitive
landscape as well as the expiring scrapping incentive in the
Italian market should dampen the strong volume growth observed
in the last few years.  Should Fiat's financial flexibility
continue to improve against this background and should Moody's
gain confidence that these improvements will prove sustainable
in 2008 and beyond, then the ratings could return to investment
grade within the next 6-12 months".

Approximately EUR 12.2 Billion of Debt Affected.

  Upgrades:

  -- Issuer: Fiat Finance & Trade Ltd.

  -- Senior Unsecured Medium-Term Note Program, Upgraded to Ba1
     from Ba2

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1
     from Ba2

  -- Issuer: Fiat Finance Canada Ltd.

  -- Senior Unsecured Medium-Term Note Program, Upgraded to Ba1
     from Ba2

  -- Issuer: Fiat Finance North America Inc.

  -- Senior Unsecured Medium-Term Note Program, Upgraded to Ba1
     from Ba2

  -- Senior Unsecured Regular Bond/Debenture, Upgraded to Ba1
     from Ba2

  -- Issuer: Fiat S.p.A.

  -- Probability of Default Rating, Upgraded to Ba1 from Ba2

  -- Corporate Family Rating, Upgraded to Ba1 from Ba2

Moody's says that the positive outlook is based on the
expectation that Fiat can sustain the current momentum,
benefiting from:

    i) the launch of new volume models (Fiat Bravo in Q1 2007
       and Fiat 500 in Q3 2007),

   ii) a gradual overhaul of its Alfa Romeo and Lancia models,

  iii) an ongoing improvement of Fiat Group Automobiles' dealer
       network as well as

   iv) ongoing efficiency gains.

Moody's also anticipates that Fiat will generate positive cash
flows going forward which should facilitate further debt
reduction and eventually lead to an improved overall financial
profile.

The possibility of another positive rating change as indicated
by the positive outlook would be mainly dependent on Fiat's
ability to demonstrate the robustness of its current business
model in a more challenging market environment in 2008.  Moody's
notes that in H1 2007 Fiat to some extent benefited from
favourable car market developments in Italy and Brazil, good
momentum in demand for its recently launched key volume models
(Grande Punto, Panda, Bravo) and from solid demand in Trucks in
Europe.  Since Moody's expects several European and Asian
manufacturers to start or have started new model launches
competing with Fiat's products and a less favourable economic
environment potentially impacting car and truck markets, the
company will be challenged to continue the positive momentum for
2008 and beyond.

Therefore, the envisaged reorganization of sales channels for
Fiat, Lancia and Alfa Romeo across key geographies also remains
of major importance to the company's business profile and
capacity utilization.

Recently announced ventures and associations with other auto
groups need to be successful to improve Fiat Group Automobiles'
capacity utilization and efficiency.  In addition, management's
efforts to further improve the financial profile of CNH and
maintain the upward trajectory at Iveco will continue to be
essential to further strengthening Fiat's overall credit profile
on a permanent basis.

Moody's believes that the liquidity position of Fiat's fully
consolidated operations has strengthened significantly over the
past years.  Fiat's gross debt as of June 2007, is a balance of
capital market instruments (69%) and bank debt (23%).  The
maturity profile has substantially improved over the past 18
months.  Until June 2008 EUR3.6 billion will come due which
represents around 30% of total debt.

This is balanced by EUR7.4bn cash and marketable securities as
per June 2007, and unused committed credit lines of EUR 2bn.
Fiat should be in a position to readily refinance amounts coming
due over the next 12 months.

Moody's last rating action on Fiat was an upgrade of the
Corporate Family Rating to Ba2 with a positive outlook from Ba3
on Feb. 12, 2007.


Headquartered in Turin, Italy, Fiat S.p.A. --
http://www.fiatgroup.com/-- manufactures and sells automobiles,
commercial vehicles, and agricultural and construction
equipment.  It also manufactures, for use by the company's
automotive sectors and for sale to third parties, other
automotive-related products and systems, principally power
trains (engines and transmissions), components, metallurgical
products and production systems.  Fiat's creditors include Banca
Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del
Lavoro, Capitalia, Sanpaolo IMI, and UniCredito Italiano.

Fiat operates in Argentina, Australia, Austria, Belgium, Brazil,
Bulgaria, China, Czech Republic, Denmark, France, Germany,
Greece, Hungary, India, Ireland, Italy, Japan, Lituania,
Netherlands, Poland, Portugal, Romania, Russia, Singapore,
Spain, among others.


FORD MOTOR: Bear Stearns Wants to Buy Indian Financing Unit
-----------------------------------------------------------
Bear, Stearns & Co. Inc. is in negotiations to purchase a Ford
Motor Company financing unit in India, although the bank has not
confirmed the Economic Times report that it has offered INR900
million (US$22.09 million) in exchange for Ford Automotive
Finance Co., Reuters relates.

"We are in advanced discussions with Ford but it is too early to
confirm the outcome," a London-based spokeswoman for Bear
Stearns said, Reuters notes.  "We are looking at ways of
building our presence in India as an important factor in our
international growth plans.  We are keen to identify the best
way to build on our existing services to clients in India," she
added.

A secondary market for the sale of financial products in India
has opened up because its government is not issuing new licenses
in the country.  Bear Stearns is already registered as a foreign
institutional investor in India and offers some services, such
as buying Indian equity for overseas clients, but it cannot sell
other products into the market, Reuters observes.

The Economic Time report also states that Bear Stearns plans to
invest INR1 billion (US$24.54 million) to comply with Indian
regulations and launch a full-fledged financial services
company.

India has about 1,050 registered foreign institutional
investors, with 32 asset management firms managing over INR4
trillion (US$99 billion), according to data from the market
regulator Securities & Exchange Board of India, Reuters notes.
Citigroup, UBS, Morgan Stanley and Goldman Sachs are among the
foreign institutional investors currently operating in India.

                      About Ford Motor Co.

Headquartered in Dearborn, Michigan, Ford Motor Co. (NYSE: F) --
http://www.ford.com/-- manufactures or distributes automobiles
in 200 markets across six continents.  With about 260,000
employees and about 100 plants worldwide, the company's core and
affiliated automotive brands include Ford, Jaguar, Land Rover,
Lincoln, Mercury, Volvo, Aston Martin, and Mazda.  The company
provides financial services through Ford Motor Credit Company.

The company has operations in Japan in the Asia Pacific region.
In Europe, the Company maintains a presence in Sweden, and the
United Kingdom.  The Company also distributes its brands in
various Latin American regions, including Argentina and Brazil.

                        *     *     *

As reported in the TCR-Europe on July 31, 2007, Moody's
Investors Service said that the performance of Ford Motor
Company's global automotive operations for the second quarter of
2007 was significantly stronger than the previous year and
better than street expectations.

However, Moody's explained that the company continues to face
significant competitive and financial challenges, and the rating
agency expects that Ford's credit metrics and rate of cash
consumption will likely remain consistent with no higher than a
B3 corporate family rating level into 2008.

According to the rating agency, Ford's corporate family rating
is currently a B3 with a negative outlook.  The rating is
pressured by the shift in consumer preference from high margin
trucks and SUVs, and by the need for a new 2007 UAW contract
that provides meaningful relief from high health care costs and
burdensome work rules, Moody's relates.


TAM SA: S&P's Rates BB Long-Term Corp. Credit at BB
---------------------------------------------------
Standard & Poor's Ratings Services has affirmed its 'BB' long-
term corporate credit rating on Brazil-based airline TAM S.A.
The outlook was revised to negative from stable.

"The outlook revision reflects the increasing uncertainties of
the operating and regulatory environment under which airlines
operate in Brazil.  It also reflects S&P's growing concerns
about their ability to deal with increasing costs because of
capacity constraints at the country's main airports.  S&P's
believe this may reduce the effectiveness of TAM's domestic
fleet strategy and cause the company's results to weaken in an
increasingly competitive environment," said S&P's credit analyst
Reginaldo Takara.

The ratings on TAM reflect the company's exposure to the
cyclical, price-competitive, and capital-intensive airline
industry.  TAM has a leveraged financial profile because of
operating leases, fierce competition with low-cost carrier GOL
Linhas A‚reas Inteligentes S.A., dependence on the overall
economic and operating environment in its home market of Brazil,
and some cost exposure to exchange risk and volatile fuel
prices.

These negative factors are partly offset by TAM's sound market
share in the fairly concentrated Brazilian airline industry, a
business model based on product differentiation, highly
efficient and cost-competitive operations, and our expectations
that the company's financial profile will continue improving in
the medium term, while sustaining strong liquidity.

The negative outlook reflects the challenges TAM and the
Brazilian airline sector will have to deal with because of a
fierce competitive environment, capacity constraints, and
regulatory uncertainties.  We expect this to continue affecting
performance and profitability in the near term.  The ratings
could be lowered if TAM cannot improve the negative results and
credit metrics from second-quarter 2007, in particular, if
competition continues compressing yields or if a challenging
operating environment affects the company's cost structure and
operating efficiency permanently.  The outlook could be revised
to stable if TAM's performance improves significantly, if there
is more clarity regarding capacity at Brazil's key airports, and
if we are able to assess the effects of new regulatory decisions
on TAM's overall results and performance.

TAM SA -- http://www.tam.com.br/-- operates regular flights to
47 destinations throughout Brazil.  It serves 72 different
cities in the domestic market through regional alliances.
Additionally, it maintains code-share agreements with
international airline companies that allow passengers to travel
to a large number of destinations throughout the world.  TAM was
the first Brazilian airline company to launch a loyalty program.
The program has over 3.3 million subscribers and has awarded
more than 3.6 million tickets.


TELEMIG CELULAR: Telpart Shareholders Okay Sale to Vivo
-------------------------------------------------------
Telpart Participacoes shareholders have ratified during an
extraordinary shareholders' meeting the sale of Telemig Celular
Participacoes to mobile company Vivo, news daily Valor Economico
reports.

Telpart Participacoes is the holding group that controls mobile
operators Telemig Celular Participacoes and Tele Norte Celular
Participacoes.

Valor Economico says that Tele Norte will also be sold to Vivo.

As reported in the Troubled Company Reporter-Latin America on
July 31, 2007, Telemig Celular reportedly signed a sale deal
with mobile operator Vivo Participacoes.  US investment bank
Merrill Lynch was coordinating the sale.  A source said that
Vivo, through its joint venture controllers Spain's Telefonica
and Portugal Telecom, had paid BRL3.5 billion to the controllers
of Telemig Celular and Amazonia Celular.

Business News Americas relates that Vivo announced at the
beginning of this month that it reached an agreement for the
purchase of Telemig Celular and Amazonia Celular for BRL1.21
billion.

BNamericas notes that TPSA do Brasil, which is linked to Banco
Opportunity and holds 48.9% of ordinary shares in Telpart
Participacoes, was against the sale.

Banco Opportunity said in a statement that TPSA do Brasil agreed
with the sale in general but didn't like the transparency of the
process in which the sale was conducted.

TPSA do Brasil admitted to El Cronista that the acquisition
followed the initial aim to achieve the highest return on the
investment.

Meanwhile, Newtel -- Telpart's controller whose majority
shareholders are US investment bank Citigroup and several local
pension funds that combined own 51.07% -- supported the sale,
BNamericas states.

                           About Vivo

Officially launched in the first quarter of 2003, Vivo
Participacoes is the joint venture of the wireless operations
owned by Portugal Telecom and Telefonica Moviles in Brazil.
Operating under the brand name Vivo, it consolidates the
wireless operations of Telesp Celular (Sao Paulo state), Global
Telecom (Parana and Santa Catarina states), Tele Sudeste Celular
(Rio de Janeiro and Espirito Santo states), CRT Celular (Rio
Grande do Sul state), Tele Leste Celular (Bahia and Sergipe
states) and Tele Centro Oeste Celular (Acre, Rondonia, Mato
Grosso, Mato Grosso do Sul, Goias and Tocantins states, and the
Districto Federal).

                      About Telemig Celular

Headquartered in Belo Horizonte, Brazil, Telemig Celular is the
leading provider of mobile communications services in the state
of Minas Gerais, Brazil.  As of Sept. 30, 2006, Telemig had 3.42
million subscribers, with a market share of 33% in its
concession area.

As reported in the Troubled Company Reporter-Latin America on
Aug. 13, 2007, Standard & Poor's Ratings Services placed its
'BB-' long-term corporate credit rating on Telemig Celular S.A.
and its 'B+' long-term corporate credit rating on Amazonia
Celular S.A. on CreditWatch with positive implications.  The
'B+' rating on the   US$120 million notes co-issued by Amazonia
and Telemig was also placed on CreditWatch with positive
implications.


* BRAZIL: Producing Two Mln. Barrels of Oil Per Day in 2007
-----------------------------------------------------------
Brazilian state-owned oil firm Petroleo Brasileiro SA's
exploration and production director Guilherme Estrella told
Bernd Radowitz at Dow Jones Newswires that the company's
domestic production will reach two million barrels of oil a day
this year for the first time.

According to Dow Jones, Mr. Estrella said that Petroleo
Brasileiro's P-54 platform at the Roncador field in the Campos
Basin off the coast of Rio de Janeiro will start operating in
the middle of October 2007.  The rig would reach its full
production capacity of 180,000 barrels of oil daily during the
first half of next year.

The report says that the P-54 is among the new oil rigs Petroleo
Brasileiro plans to bring on stream by year-end.

Mr. Estrella commented to Dow Jones, "Brazil's self-sufficiency
in oil is already more than consolidated."

Dow Jones relates that Petroleo Brasileiro produced 1.815
million barrels of oil from its domestic fields in July 2007.

Meanwhile, Petroleo Brasileiro will begin production at its P-52
at the Roncador field, Dow Jones notes.  Roncador has a
production capacity of 180,000 barrels per day.  Petroleo
Brasileiro will also bring a 30,000 barrel-a-day rig on stream
at its Piranema field, and a second 100,000 barrel-a-day
platform at the Golfinho field.

Petroleo Brasileiro had to pay US$900 million to finish the P-54
rig at the Maua Jurong shipyard in Niteroi near Rio instead of
the US$650 initially planned, Dow Jones says, citing Mr.
Estrella.  The increase in payment was due to higher prices for
steel, services and salaries.

                  About Petroleo Brasileiro

Headquartered in Rio de Janeiro, Brazil, Petroleo Brasileiro SA
aka Petrobras -- http://www2.petrobras.com.br/ingles/index.asp
-- was founded in 1953.  The company explores, produces,
refines,
transports, markets, distributes oil and natural gas
and power to various wholesale customers and retail distributors
in Brazil.  Petrobras has operations in China, India, Japan, and
Singapore.

                        *     *     *

As reported on Nov. 24, 2006, Standard & Poor's Ratings Services
revised its outlook on its long-term ratings on the Federative
Republic of Brazil to positive from stable.  Standard & Poor's
also affirmed these ratings on the Republic of Brazil:

  -- 'BB' for long-term foreign currency credit rating,
  -- 'BB+' for long-term local currency credit rating, and
  -- 'B' for short-term currency sovereign credit rating.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 14, 2007, Fitch Ratings upgraded Brazil's long-term foreign
and local currency sovereign Issuer Default Ratings to 'BB+'
from 'BB' and the Country Ceiling to 'BBB-' from 'BB+'.  In
addition, Fitch affirmed Brazil's Short-term IDR at 'B'.  Fitch
said the rating outlook is stable.




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


ANTHRACITE BALANCED: Sets Final Shareholders Meeting Today
----------------------------------------------------------
Anthracite Balanced Company (11) Ltd. will hold its final
shareholders meeting on Aug. 24, 2007, at 10:00 a.m., at:

          P.O. Box 1109
          George Town, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

          Scott Aitken
          Connan Hill
          P.O. Box 1109
          George Town, Grand Cayman
          Cayman Islands
          Tel: (345) 949-7755
          Fax: (345) 949-7634


AQR FINANCIAL: Sets Final Shareholders Meeting Today
----------------------------------------------------
AQR Financial Futures Offshore Fund (USD) IV Ltd. will hold its
final shareholders meeting on Aug. 24, 2007, at 10:00 a.m., at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


AQR GLOBAL: Will Hold Final Shareholders Meeting Today
------------------------------------------------------
AQR Global Arbitrage Offshore Fund (USD) Ltd. will hold its
final shareholders meeting on Aug. 24, 2007, at 10:00 a.m., at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


AQR GLOBAL ASSET: Will Hold Final Shareholders Meeting Today
------------------------------------------------------------
AQR Global Asset Allocation Offshore Fund (EUR) Ltd. will hold
its final shareholders meeting on Aug. 24, 2007, at 10:00 a.m.,
at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


AQR GLOBAL FIXED: Sets Final Shareholders Meeting Today
-------------------------------------------------------
AQR Global Fixed Income Offshore Fund (Usd) Ltd. will hold its
final shareholders meeting on Aug. 24, 2007, at 10:00 a.m., at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


AQR GLOBAL FIXED II: Sets Final Shareholders Meeting Today
----------------------------------------------------------
AQR Global Fixed Income Offshore Fund (USD) II Ltd. will hold
its final shareholders meeting on Aug. 24, 2007, at 10:00 a.m.,
at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


AQR GLOBAL YIELD: Sets Final Shareholders Meeting Today
-------------------------------------------------------
AQR Global Yield Curve Offshore Fund (USD) Ltd. will hold its
final shareholders meeting on Aug. 24, 2007, at 10:00 a.m., at:

          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Ogier
          Attention: Andrew Morehouse
          Queensgate House
          South Church Street, Grand Cayman
          Cayman Islands
          Tel: (345) 949 9876
          Fax: (345) 949 1986


C60 CAPITAL: Will Hold Final Shareholders Meeting Today
-------------------------------------------------------
C60 Capital International Ltd. will hold its final shareholders
meeting on Aug. 24, 2007, at 10:00 a.m., at the registered
office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Lawrence Edwards
          Attention: Miguel Brown
          P.O. Box 258
          Grand CaymanKY1-1104
          Cayman Islands
          Tel: (345) 914 8665
          Fax: (345) 945 4237


CABLE & WIRELESS: Unit Says Networks Unaffected by Hurricane
------------------------------------------------------------
Cable & Wireless' Jamaican unit told the Jamaica Gleaner that
its mobile and fixed networks are continuing operations,
unaffected by Hurricane Dean.

The Gleaner relates that Cable & Wireless conducted a
comprehensive assessment of its two networks in Jamaica.

Cable & Wireless said in a statement that there were some
service interruptions.  However, most of the major faults have
been corrected and the company's repair crews are working to
address all "outstanding issues."

The Gleaner notes that the major issues that have been addressed
were:

          -- the microwave line connecting St. Thomas into Cable
             & Wireless' mobile network; and

          -- the fiber optic cable that affected service in
             Manchester, St. Elizabeth and Clarendon.

Cable & Wireless' corporate communications and corporate affairs
vice president Errol K. Miller said in a statement that the
priority areas that remain to be corrected and that are actively
being addressed are:

          -- the Mandeville Exchange, where about 1,000 customer
             are without fixed line service because the exchange
             was flooded and equipment damaged;

          -- an antennae in Laughlands in, St. Ann, that was
             blown out to another antennae at Huntley in, St.
             Elizabeth, which was also blown out and is
             affecting service in Whitehouse, Junction, Malvern,
             Thornton and Siloah;

          -- the flooded equipment in Old Harbour Bay, St.
             Catherine, has left the area without service; and

          -- a problem with a generator is affecting service in
             the Tower Isle St. Ann area.

Interrupted service in some areas may be due to the lack of the
public power supply, The Gleaner relates.  Service will be
restored as soon as the power is back.

"Once again, Cable & Wireless is reminding the public not to cut
telephone cables that may have come loose from poles or were
shifted out of position.  If the cable is not broken, service
will remain uninterrupted.  Cable & Wireless is therefore
strongly appealing to members of the public not to cut or
otherwise damage these cables.  Instead, the company is asking
that all such occurrences be reported to its Emergency Control
Centre at 929-9834 or 926-9283 and a crew will be dispatched to
carry out repairs as soon as it is safe to do so.  In addition,
the company's call centre should be fully operational at noon
today and customers are being encouraged to report any and all
issues by calling, charge free to1-888-225-5295," Mr. Miller
said in a statement.

Headquartered in London, Cable & Wireless Plc --
http://www.cw.com/new/-- provides voice, data and IP (Internet
Protocol) services to business and residential customers, as
well as services to other telecoms carriers, mobile operators
and providers of content, applications and Internet services.
The company has operations are in the United Kingdom, India,
China, the Cayman Islands and the Middle East.

                          *     *     *

In April 2007, in connection with the implementation of its new
Probability-of-Default and Loss-Given-Default rating methodology
for the corporate families in the Telecommunications, Media and
technology sector, Moody's Investors Service confirmed its Ba3
Corporate Family Rating for Cable & Wireless Plc.

Moody's also assigned a Ba3 Probability-of-Default rating to the
company.

* Issuer: Cable & Wireless Plc

                                           Projected
                         Debt     LGD      Loss-Given
Debt Issue              Rating   Rating   Default
----------              -------  -------  --------
4% Senior Unsecured
Conv./Exch.
Bond/Debenture
Due 2010                B1       LGD4     60%

GBP200 million
8.75% Senior
Unsecured Regular
Bond/Debenture
Due 2012                B1       LGD4     60%


CREAFIN FUND: Proofs of Claim Filing Ends Tomorrow
--------------------------------------------------
Creafin Fund Management (Cayman) Ltd.'s creditors are given
until Aug. 25, 2007, to prove their claims to RTB Secretaries
Limited, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Creafin Fund's shareholders agreed on July 26, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       RTB Secretaries Limited
       c/o Rothschild Trust Cayman Limited
       P.O. Box 10129
       5th Floor, Citrus Grove
       George Town, Grand Cayman KY1-1002
       Cayman Islands
       Tel: (345) 946 7033
       Fax: (345) 946 7043


CROSS CREDIT: Proofs of Claim Filing is Until Today
---------------------------------------------------
Cross Credit (General Partner) Ltd.'s creditors are given until
Aug. 24, 2007, to prove their claims to Linburgh Martin and John
Sutlic, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Cross Credit's shareholders agreed on June 20, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Linburgh Martin
       Attention: Kim Charaman
       Close Brothers (Cayman) Limited
       Fourth Floor, Harbour Place
       P.O. Box 1034
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 8455
       Fax: (345) 949 8499


CROSS CREDIT FUND: Proofs of Claim Must be Filed Today
------------------------------------------------------
Cross Credit Fund Ltd.'s creditors are given until
Aug. 24, 2007, to prove their claims to Linburgh Martin and John
Sutlic, the company's liquidators, or be excluded from receiving
any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Cross Credit's shareholders agreed on June 20, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Linburgh Martin
       Attention: Kim Charaman
       Close Brothers (Cayman) Limited
       Fourth Floor, Harbour Place
       P.O. Box 1034
       George Town, Grand Cayman
       Cayman Islands
       Tel: (345) 949 8455
       Fax: (345) 949 8499


CYGNUS ASSET: Proofs of Claim Filing Ends on Aug. 28
----------------------------------------------------
Cygnus Asset Management Ltd.'s creditors are given until
Aug. 28, 2007, to prove their claims to Ronald Tompkins, the
company's liquidator, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Cygnus Asset's shareholders agreed on July 20, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       Ogier
       Attention: Angus Davison
       c/o Ogier
       P.O. Box 1234
       Grand Cayman KY1-1108
       Cayman Islands
       Tel: (345) 949 9876
       Fax: (345) 949 1986


DIAMOND LINE: Sets Final Shareholders Meeting Today
---------------------------------------------------
Diamond Line International Ltd. will hold its final shareholders
meeting on Aug. 24, 2007, at 11:00 a.m., at the office of the
company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) requesting the members' approval of the liquidation fees
      incurred to date, approval of the liquidator's estimated
      costs to completion, and

   3) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Bernard Mcgrath
          Caledonian House
          P.O. Box 1043
          George Town, Grand Cayman
          Cayman Islands
          Tel 9490050
          Fax 9498062


EACM SELECT: Proofs of Claim Filing Deadline is Aug. 28
-------------------------------------------------------
EACM Select Alternative Fund 1 Ltd.'s creditors are given until
Aug. 28, 2007, to prove their claims to David A.K. Walker and
Lawrence Edwards, the company's liquidators, or be excluded from
receiving any distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

EACM Select's shareholders agreed on July 11, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

       David A.K. Walker
       Attention: Jyoti Choi
       P.O. Box 258
       Grand Cayman KY1-1104
       Cayman Islands
       Tel: (345) 914 8657
       Fax: (345) 945 4237


FRONTIER IV: Proofs of Claim Must be Filed by Aug. 26
-----------------------------------------------------
Frontier IV Ltd.'s creditors are given until Aug. 26, 2007,
to prove their claims to John Cullinane and Derrie Boggess, the
company's liquidators, or be excluded from receiving any
distribution or payment.

In their proofs of claim, creditors must indicate their full
names, addresses, the full particulars of their debts or claims,
and the names and addresses of their lawyers, if any.

Frontier IV's shareholders agreed on July 27, 2007, to place
the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

       John Cullinane
       Derrie Boggess
       c/o Walkers SPV Limited
       Walker House
       87 Mary Street, George Town
       Grand Cayman KY1-9002
       Cayman Islands
       Telephone: (345) 914-6305


MORANE INVESTMENTS: Sets Final Shareholders Meeting Today
---------------------------------------------------------
Morane Investments Ltd. will hold its final shareholders meeting
on Aug. 24, 2007, at 9:00 a.m., at the registered office of the
company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

          John Cullinane
          Derrie Boggess
          c/o Walkers SPV Limited
          Walker House
          87 Mary Street
          P.O. Box 908
          George Town, Grand Cayman KY1-9002
          Cayman Islands


PARMALAT SPA: Sells Spanish Operations to Lacteos Siglo
-------------------------------------------------------
Parmalat S.p.A. disclosed in a press release that it has
executed an agreement selling all of the Spanish operations to
Lacteos Siglo XXI s.l. (Group Nueva Rumasa) for about
EUR188,000,000, following the signing of the sale and purchase
agreement in May 2007 and the obtainment of the clearance from
the Spanish Antitrust Authority in June 2007.

Based in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that
can be stored at room temperature for months.  It also has about
40 brand product lines, which include yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
or bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy
on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue
No. 90; http://bankrupt.com/newsstand/or 215/945-7000).


PARMALAT SPA: Boschi Food & Beverage Acquires Business Assets
-------------------------------------------------------------
Boschi Luigi & Figli S.p.A., a subsidiary of Parmalat S.p.A.,
has executed the transfer of all of its business assets to
Boschi Food & Beverage S.p.A., following the receipt of the
approval of certain Antitrust authorities, according to
Parmalat's company statement.

Boschi Luigi operates in the production, transformation and
manufacturing of tomato-based products, fruit juices and tea-
based beverages.

Following the execution of the sale agreement, Boschi Luigi has
collected the entire consideration for the transaction equal to
EUR30,180,000, the company press release discloses.

Simultaneously with the sale of those assets, Parmalat discloses
in a separate press release that its Pomi, Pomito and Pais
brands have been sold to Boschi Food & Beverage, for
approximately EUR2,320,000.

Boschi Food & Beverage S.p.A., is a recently constituted company
owned by Consorzio Interregionale Ortofrutticolo and Consorzio
Casalasco.

Based in Milan, Italy, Parmalat S.p.A. --
http://www.parmalat.net/-- sells nameplate milk products that
can be stored at room temperature for months.  It also has about
40 brand product lines, which include yogurt, cheese, butter,
cakes and cookies, breads, pizza, snack foods and vegetable
sauces, soups and juices.

The Company's U.S. operations filed for chapter 11 protection on
Feb. 24, 2004 (Bankr. S.D.N.Y. Case No. 04-11139).  Gary
Holtzer, Esq., and Marcia L. Goldstein, Esq., at Weil Gotshal &
Manges LLP, represent the Debtors.  When the U.S. Debtors filed
or bankruptcy protection, they reported more than US$200 million
in assets and debts.  The U.S. Debtors emerged from bankruptcy
on April 13, 2005.

Parmalat S.p.A. and its Italian affiliates filed separate
petitions for Extraordinary Administration before the Italian
Ministry of Productive Activities and the Civil and Criminal
District Court of the City of Parma, Italy on Dec. 24, 2003.
Dr. Enrico Bondi was appointed Extraordinary Commissioner in
each of the cases.  The Parma Court has declared the units
insolvent.

On June 22, 2004, Dr. Bondi filed a Sec. 304 Petition, Case No.
04-14268, in the United States Bankruptcy Court for the Southern
District of New York.

Parmalat has three financing arms: Dairy Holdings Ltd., Parmalat
Capital Finance Ltd., and Food Holdings Ltd.  Dairy Holdings and
Food Holdings are Cayman Island special-purpose vehicles
established by Parmalat S.p.A.  The Finance Companies are under
separate winding up petitions before the Grand Court of the
Cayman Islands.  Gordon I. MacRae and James Cleaver of Kroll
(Cayman) Ltd. serve as Joint Provisional Liquidators in the
cases.  On Jan. 20, 2004, the Liquidators filed Sec. 304
petition, Case No. 04-10362, in the United States Bankruptcy
Court for the Southern District of New York.  In May 2006, the
Cayman Island Court appointed Messrs. MacRae and Cleaver as
Joint Official Liquidators.  Gregory M. Petrick, Esq., at
Cadwalader, Wickersham & Taft LLP, and Richard I. Janvey, Esq.,
at Janvey, Gordon, Herlands Randolph, represent the Finance
Companies in the Sec. 304 case.

The Honorable Robert D. Drain presides over the Parmalat
Debtors' U.S. cases.  (Parmalat Lumber Bankruptcy News, Issue
No. 90; http://bankrupt.com/newsstand/or 215/945-7000)


ROYALTY INCOME: Will Hold Final Shareholders Meeting Today
----------------------------------------------------------
Royalty Income Fund Of North America (Offshore) Ltd. will hold
its final shareholders meeting on Aug. 24, 2007, at 10:00 a.m.,
at the registered office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;
      and

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidators can be reached at:

          John Cullinane
          Derrie Boggess
          c/o Walkers SPV Limited
          Walker House
          87 Mary Street
          P.O. Box 908
          George Town, Grand Cayman KY1-9002
          Cayman Islands


SAFEWRITE (CAYMAN): Sets Final Shareholders Meeting Today
---------------------------------------------------------
Safewrite (Cayman Islands) Ltd. will hold its final shareholders
meeting on Aug. 24, 2007, at 9:30 a.m., at:

          Caledonian House
          69 Dr. Roy's Drive, Grand Cayman
          Cayman Islands

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,

   2) approve the report of the joint liquidators; and

   3) approve the remuneration of the joint liquidators.


A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Bernard Mcgrath
          Caledonian House
          P.O. Box 1043
          George Town, Grand Cayman
          Cayman Islands
          Tel 9490050
          Fax 9498062


SAMA DEVELOPMENTS: Sets Final Shareholders Meeting Today
--------------------------------------------------------
Sama Developments Inc. will hold its final shareholder meeting
on Aug. 24, 2007, at the registered office of the company.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year;

   2) authorizing the liquidator to retain the records
      of the company for a period of three years from
      the dissolution of the company, after which they
      may be destroyed; and

   3) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Commerce Corporate Services Limited
          P.O. Box 694
          George Town, Grand Cayman
          Cayman Islands
          Tel: 949 8666
          Fax: 949 7904


WHITE RIVER: Will Hold Final Shareholders Meeting Today
-------------------------------------------------------
White River Offshore Ltd. will hold its final shareholders
meeting on Aug. 24, 2007, at 10:00 a.m.

These agendas will be taken during the meeting:

   1) accounting of the liquidation process showing how the
      winding up has been conducted during the preceding year,
      and

   2) hearing any explanation that may be given by the
      liquidator.

A member entitled to attend and vote at the meeting will be
allowed to appoint a proxy, who need not be a member, in his
stead.

The liquidator can be reached at:

          Kenneth L. Edlow
          White River Offshore, Ltd.
          c/o Maples and Calder
          P.O. Box 309
          Ugland House
          South Church Street, George Town
          Grand Cayman
          Cayman Islands




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


ARAMARK CORP: Moody's Assigns SGL-2 Liquidity Rating
----------------------------------------------------
Moody's Investors Service has assigned an SGL-2 speculative
grade liquidity rating to Aramark Corporation.  Although free
cash flow is expected to be only modestly positive over the next
four quarters, the company has a US$600 million committed
revolver that matures in 2013 and ample headroom under the
financial covenant in its credit facility.

Aramark has repaid about US$500 million in secured credit
agreement borrowings since the closing of the buyout.  The
repayments reflect normal seasonal cash flow generation as well
as US$285 million in net proceeds from the sale of its interest
in SMG.

Moody's expects that revolver borrowings may peak at about
US$200 million during the first half of fiscal 2008 reflecting
the company's seasonal working capital cycle.  The credit
facility has one financial maintenance covenant, net senior
secured debt to EBITDA, with substantial headroom at June 29,
2007.

Headquartered in Philadelphia, Pennsylvania, Aramark Corp.
(NYSE: RMK) -- http://www.aramark.com/-- is a professional
services organization, providing food services, facilities
management, hospitality services, and uniforms and career
apparel to health care institutions, universities and school
districts, stadiums and arenas, businesses, prisons, senior
living facilities, parks and resorts, correctional institutions,
conference centers, convention centers, and public safety
professionals around the world.  Aramark has approximately
240,000 employees serving clients in 20 countries, including
Belgium, Czech Republic, Germany, Ireland, UK, Mexico, Brazil,
Chile, among others.


TECH DATA: Earns US$7.2 Mln Net Income in Second Quarter 2007
-------------------------------------------------------------
Tech Data Corporation recorded net income of US$7.2 million for
the second quarter ended July 31, 2007, based upon Generally
Accepted Accounting Principles (GAAP).  This compared to a net
loss of US$155.5 millionfor the prior-year period.

Results for the second quarter of fiscal 2008 include a US$4.3
million charge for the loss on disposal of subsidiaries and
US$16.6 million in restructuring charges.  The loss on disposal
of subsidiaries relates to the company's decision to exit its
operations in Israel and the United Arab Emirates (UAE) as part
of its ongoing initiatives to optimize profitability and return
on capital employed.

The charge is comprised of US$2.7 million of non-cash foreign
currency translation losses related to the operations in Israel
which had been previously recorded in shareholders' equity,
US$1.0 million of costs related to the sale of the Israel
operations and US$.6 million for UAE severance costs.  The
restructuring charges totaling US$16.6 million, substantially
all of which relate to the closure of a European logistics
center to gain synergies and reduce future operating expenses,
is comprised of approximately US$8.0 million of severance costs
and US$8.6 million of facility costs and other fixed asset
write-offs.  Excluding the noted charges totaling US$20.9
million, non-GAAP net income for the second quarter of fiscal
2008 totaled US$27.5 million.

Net sales for the second quarter ended July 31, 2007 were US$5.6
billion, an increase of 13.6 percent from US$4.9 billion in the
prior-year period and a record for the second quarter.

Results for the comparable second quarter of fiscal 2007
included a non-cash charge of US$136.1 million for goodwill
impairment as a result of the company's performance in Europe
and an US$8.4 million non-cash charge to increase the valuation
allowance for certain deferred tax assets related to Europe.
The prior-year second quarter also included US$11.2 million of
restructuring charges and US$1.6 million of consulting costs
related to the company's European restructuring program which
was completed in the third quarter of fiscal 2007.  Excluding
these charges and costs, non-GAAP net income for the second
quarter of fiscal 2007 totaled US$.3 million.

"We are extremely pleased with our second quarter performance as
our focus on execution delivered strong results in both of our
geographic regions.  Through responsible sales and product
management, we achieved record second-quarter net sales -
highlighted by very strong growth in the Americas region that
outpaced the market," commented Robert M. Dutkowsky, Tech Data's
chief executive officer.  "We delivered a significant year-over-
year turnaround in our operating results in the European region
with a 91 basis point improvement on a non-GAAP basis.  Tech
Data is in a solid position to further leverage our strength in
execution to improve our performance in the second half of this
fiscal year."

                Second-Quarter Financial Summary

Net sales in the Americas (including the United States, Canada,
Latin America and export sales to the Caribbean) were US$2.9
billion, or 52 percent of worldwide net sales, representing an
increase of 16.7 percent over the second quarter of fiscal 2007
and an increase of 16.2 percent over the first quarter of fiscal
2008.  Net sales in Europe (including Europe, the Middle East
and export sales to Africa) totaled US$2.7 billion, or 48
percent of worldwide net sales, representing an increase of 10.3
percent (3.4 percent increase on a local currency basis) over
the second quarter of fiscal 2007 and a decrease of 6.7 percent
(8.6 percent decrease on a local currency basis) over the first
quarter of fiscal 2008.
Gross margin for the second quarter of fiscal 2008 was 4.89
percent compared to 4.56 percent in the prior-year second
quarter and 4.72 percent in the first quarter of fiscal 2008.
The increase in gross margin was attributable to significant
improvements in the company's pricing and inventory management
practices in Europe, partially offset by a shift in customer and
product mix in the Americas.

Selling, general and administrative expenses (SG&A) were
US$226.7 million or 4.03 percent of net sales compared to
US$209.2 million or 4.23 percent of net sales in the second
quarter of fiscal 2007.  SG&A expenses increased year-over-year
to support sales growth and the company's strategic initiatives.
As a percentage of net sales however, SG&A declined 20 basis
points year-over-year due to leverage achieved in the Americas,
and to a lesser extent in Europe.  SG&A in the second quarter of
fiscal 2007 included US$1.6 million in consulting costs
associated with the European restructuring program completed in
the third quarter of fiscal 2007.

For the second quarter of fiscal 2008, operating income was
US$26.7 million, or .48 percent of net sales.  This compared to
an operating loss of US$(130.9) million, or (2.65) percent of
net sales in the second quarter of fiscal 2007. On a non-GAAP
basis, excluding the loss on disposal of subsidiaries and
restructuring charges noted above, operating income for the
second quarter of fiscal 2008 was US$47.6 million, or 0.85
percent of net sales.  This compared to non-GAAP operating
income for the second quarter of fiscal 2007 of US$18.0 million
or 0.36 percent of net sales, excluding the goodwill impairment,
restructuring charges and consulting costs noted above.

On a regional basis, operating income in the Americas was 1.56
percent of net sales compared to 1.51 percent of net sales in
the second quarter of fiscal 2007.  In Europe, the company
incurred an operating loss of 0.59 percent of net sales compared
to an operating loss of 6.78 percent of net sales in the second
quarter of fiscal 2007.  Excluding the loss on disposal of
subsidiaries and restructuring charges, non-GAAP operating
income in Europe for the second quarter of fiscal 2008 was 0.18
percent of net sales compared to an operating loss of 0.73
percent of net sales for the second quarter of fiscal 2007,
which excludes the goodwill impairment, restructuring charges
and consulting costs.  Stock-based compensation expense is not
included in the regional segment reporting results.

The US$(1.0) million of minority interest in the second quarter
of fiscal 2008 represents the company's Brightstar Europe joint
venture partner's share of the start-up costs incurred to date.
The joint venture remains in the formation phase and has not
commenced sales as of July 31, 2007.  Cash flow from operations
for the second quarter of fiscal 2008 totaled US$198.7 million.

                        Business Outlook

Statements made regarding the company's business outlook are
based on current expectations and the company's internal plan.
These statements are forward-looking and, as outlined in the
company's periodic filings with the Securities and Exchange
Commission, actual results may differ materially.  For the third
quarter ending Oct. 31, 2007, the company anticipates net sales
to be in the range of US$5.75 billion to US$5.90 billion.  This
assumes year-over-year low double-digit growth in the Americas
and flat-to-low single-digit growth in Europe on a local
currency basis.  The company anticipates an effective tax rate
for the third quarter of fiscal 2008 in the range of 34 percent
to 36 percent.

                         About Tech Data

Founded in 1974, Tech Data Corporation (NASDAQ GS: TECD) --
http://www.techdata.com/-- distributes IT products, with more
than 90,000 customers in over 100 countries.  The company's
business model enables technology solution providers,
manufacturers and publishers to cost-effectively sell to and
support end users ranging from small-to-midsize businesses to
large enterprises.  Tech Data is ranked 107th on the FORTUNE
500(R).  The company and its subsidiaries operate centers in
Latin America, including Brazil and Chile.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 6, 2007, Fitch Ratings has affirmed Tech Data Corp., as:

   -- Issuer Default Rating at 'BB+';
   -- Senior unsecured credit facility at 'BB+';
   -- 2.75% senior unsecured convertible debentures at 'BB+'.

The Rating Outlook is Stable.




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


BANCOLOMBIA SA: Hernan Ramirez Quits as Administrative VP
---------------------------------------------------------
Bancolombia S.A.'s Board of Directors, in a meeting held on
Aug. 21, 2007, accepted the resignation of Hernan Dario Ramirez
Giraldo as Administrative Vice President and thanked him for his
valuable work at Bancolombia during his 22 years of service.  To
replace him temporarily, the Board appointed Luis Fernando
Montoya Cusso who will continue serving also as Vice President
of Operations of Bancolombia.

                      About Bancolombia

Bancolombia is Colombia's largest full-service financial
institution, formed by a merger of three leading Colombian
financial institutions.  Bancolombia's market capitalization is
over US$5.5 billion, with US$13.8 billion asset base and US$1.4
billion in shareholders' equity as of Sept. 30, 2006.
Bancolombia is the only Colombian company with an ADR level III
program in the New York Stock Exchange.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 27, 2007, Moody's Investors Service changed the outlook to
positive from stable on its Ba3 long-term foreign currency
deposit ratings and Ba1 long-term foreign currency subordinated
bond rating for Bancolombia, S.A.

As reported in the Troubled Company Reporter-Latin America on
May 4, 2007, Fitch Ratings downgraded and removed from Rating
Watch Negative Bancolombia's long-term and short-term local
currency Issuer Default Ratings and Individual rating:

   -- Individual rating to 'C/D' from 'C';
   -- Local currency long-term IDR to 'BB+' from 'BBB-'; and
   -- Local currency short-term rating to 'B' from 'F3';

In addition, Fitch affirmed these ratings:

   -- Foreign currency long-term IDR at 'BB+';
   -- Foreign currency short-term rating at 'B'; and
   -- Support rating at '3'.

Fitch says the rating outlook was stable.


SOLUTIA INC: Wants Court Approval on Chemical Plant Agreement
-------------------------------------------------------------
Solutia Inc. relates that it manufactured a family of
chlorobenzene-based derivatives at their W.G. Krummich plant and
their Anniston, Alabama plant, which accounted for approximately
2% of its consolidated revenues.  Chlorobenzenes are chemical
intermediates used to produce polymers and polymer additives,
rubber chemicals, agricultural products, pharmaceuticals and
other industrial chemicals.

Solutia shut down its production of chlorobenzene during 2003
and 2004, as it became unprofitable due to foreign competition.
As a result, the equipment used became and is idle.

Since the production shutdown, Solutia engaged in discussions
with multiple parties regarding the sale of the idle
Chlorobenzene Equipment.  Management determined that a certain
purchaser provided the most attractive opportunity, which
included not just the highest price for the Chlorobenzene
Equipment, but also benefits associated with a continued
business relationship.

The Purchaser approached Solutia in early 2007, seeking a
company with expertise in chemical plant operations to partner
with to manufacture a certain chemical.  The Purchaser
determined it could convert manufacturing assets used to produce
Chlorobenzene into facilities to manufacture alternative
chemicals.

Jonathan S. Henes, Esq., at Kirkland & Ellis LLP, in New York,
informs the U.S. Bankruptcy Court for the Southern District of
New York that Solutia had intended to dismantle and dispose of
the idle Chlorobenzene Equipment at Krummich for scrap value.
He states that the Purchaser's offer presented a unique
opportunity for Solutia to not only maximize value through the
sale of its equipment, but also enter into a relationship with
the Purchaser, whereby Solutia would:

    * operate the Purchaser's production facility at Krummich;

    * provide other services to the Purchaser; and

    * have the potential to enter into similar transactions at
      some of Solutia's other facilities  -- the Arrangement.

Solutia and the Purchaser engaged in arm's-length negotiations
regarding the sale of the Chlorobenzene Equipment and a
potential manufacturing arrangement.  The negotiations resulted
in Solutia and the Purchaser entering into the Agreements, which
govern the development, ownership and operation of a production
facility to be located at Krummich, as well as the potential
production at some of Solutia's other facilities.

The terms of the Agreements, include:

    * The Chlorobenzene Equipment, including all applicable
      buildings, structures, pipelines, instruments and
      foundations, will be sold to the Purchaser for
      US$2,000,000;

    * The Purchaser is authorized to begin converting and
      upgrading the Chlorobenzene Equipment at Krummich.  In
      exchange, the Purchaser will pay Solutia a fully non-
      refundable prepaid rights access fee of US$8,000,000.
      Once production standards have been met at Krummich, the
      Purchaser will pay Solutia a production fee based upon the
      volume of chemical produced at Krummich and sold by the
      Purchaser.  The Production Fee will be paid on a monthly
      basis for each year of the term of a lease and operating
      agreement;

    * Under the terms of the Lease and Operating Agreement,
      Solutia will lease certain land within Krummich to the
      Purchaser and will provide the Purchaser with additional
      access rights and other easements with respect to certain
      portions of Krummich.  In addition, Solutia will perform
      and supply certain services utilized in chemical
      production and the operation of Krummich to the Purchaser,
      who will pay all the costs related to the services.  The
      Purchaser will also pay Solutia on a monthly basis a pre-
      tax return on the net capital employed by Solutia in
      providing the services; and an operations management
      payment.  The initial term of the Lease and Operating
      Agreement will be 10 years and, thereafter, will continue
      for an indefinite period until terminated by Solutia or
      the Purchaser on at least 24 months prior written notice;

    * Under the terms of the "Enhanced Services Agreement,"
      Solutia will provide consulting services to the Purchaser,
      for the Purchaser's manufacturing process.  The consulting
      services may include site project management, process
      consulting, logistics and purchasing expertise, process
      automation and business plan development.  The initial
      term of the Enhanced Services Agreement will be three
      years and it will automatically renew for successive one
      year terms unless terminated by Solutia or the Purchaser
      with written notice.  The Purchaser will pay Solutia
      consulting fees; and

    * The "Master Development Agreement" addresses Solutia and
      the Purchaser's desire to further explore and implement
      the establishment of chemical manufacturing operations on
      additional Solutia sites.  If certain established
      production targets at Krummich are reached, Solutia may
      make some of its other sites available to the Purchaser
      for the development, ownership and operation of additional
      facilities pursuant to similar arrangements.  Each new
      site must be authorized by a separate development
      authorization executed by Solutia and the Purchaser.

While entry into each of the Agreements to effectuate the
Arrangement could constitute transactions in the ordinary course
of Solutia's business, due to the overall scope of the
Arrangement, and out of an abundance of caution, Solutia seeks
the Court's authority to implement the Arrangement.

                        About Solutia Inc.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.  The company and 15 debtor-affiliates filed for
chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No.
03-17949).  When the Debtors filed for protection from their
creditors, they listed US$2,854,000,000 in assets and
US$3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007.  The Debtors have asked the Court to extend their
exclusive plan filing period to Dec. 31, 2007.  (Solutia
Bankruptcy News, Issue No. 96; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


SOLUTIA INC: Inquip Associates Wants Adequate Protection
--------------------------------------------------------
Inquip Associates Inc. tells the U.S. Bankruptcy Court for the
Southern District of New York that Solutia Inc. proposes to
enter into a manufacturing agreement with a certain purchaser,
which would result in the immediate sale of the equipment
Solutia used in its Chlorobenzene production located at W.G.
Krummich plant in Sauget, Illinois, to the Purchaser and the
manufacturing of a chemical at the Krummich Plant; a lease of a
portion of the Krummich Plant to the Purchaser -- the Sale and
Lease Agreement; and the potential future production of certain
chemicals with the Purchaser at other Solutia facilities -- the
Arrangement.

Inquip is the holder of a claim in the stipulated amount of
US$1,477,626 that is secured by the real estate owned by
Solutia, which includes the Krummich Plant.  Edward A. Smith,
Esq., at Venable LLP, in New York, says that Inquip has not
consented to the Sale and Lease Agreement, which proposes the
sale and lease of a portion of its collateral and the use of the
proceeds thereof that are its cash collateral without provision
of adequate protection of Inquip's secured claim, as required
under Section 361 of the Bankruptcy Code.

Inquip asks the Court to require that, as adequate protection,
proceeds from the Sale and Lease Agreement of not less than
US$2,000,000 be held by Solutia in a separate segregated and
identifiable account subject to Inquip's lien claim to pay
Inquip's secured claim with interest.

Headquartered in St. Louis, Missouri, Solutia Inc. (OTCBB:SOLUQ)
-- http://www.solutia.com/-- and its subsidiaries, engage in
the manufacture and sale of chemical-based materials, which are
used in consumer and industrial applications worldwide.  Solutia
has operations in Malaysia, China, Singapore, Belgium, and
Colombia.  The company and 15 debtor-affiliates filed for
chapter 11 protection on Dec. 17, 2003 (Bankr. S.D.N.Y. Case No.
03-17949).  When the Debtors filed for protection from their
creditors, they listed US$2,854,000,000 in assets and
US$3,223,000,000 in debts.

Solutia is represented by Allen E. Grimes, III, Esq., at
Dinsmore & Shohl, LLP and Conor D. Reilly, Esq., at Gibson,
Dunn & Crutcher, LLP.  Trumbull Group LLC is the Debtor's claims
and noticing agent.  Daniel H. Golden, Esq., Ira S. Dizengoff,
Esq., and Russel J. Reid, Esq., at Akin Gump Strauss Hauer &
Feld LLP represent the Official Committee of Unsecured
Creditors, and Derron S. Slonecker at Houlihan Lokey Howard &
Zukin Capital provides the Creditors' Committee with financial
advice.

On Feb. 14, 2006, the Debtors filed their Reorganization Plan &
Disclosure Statement.  On May 15, 2007, they filed an Amended
Reorganization Plan and on July 9, 2007, filed a 2nd Amended
Reorganization Plan.  The Disclosure Statement hearing began on
July 10, 2007.  The Debtors have asked the Court to extend their
exclusive plan filing period to Dec. 31, 2007.  (Solutia
Bankruptcy News, Issue No. 96; Bankruptcy Creditors' Service,
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


* COLOMBIA: Gets US$300-Mil. Loan to Widen Rural Competitiveness
----------------------------------------------------------------
The World Bank's Board of Directors approved a US$30 million
loan to support Colombia's efforts to increase rural
competitiveness and build up entrepreneurship in poor rural
communities through partnership schemes with the commercial
private sector.

"About 68 percent of the people living in Colombia's rural areas
are poor, most of them small farm families," said Miguel Lopez-
Bakovic, World Bank Country Manager for Colombia. "This project
will help reduce rural poverty by enabling small producers to
compete successfully in the national and global marketplace."

Under the Second Rural Productive Partnerships Project, small
farmers' producer organizations will gain access to relevant
markets by entering into a productive partnership with private
sector companies, with the support of financial institutions,
government and civil society.  At the same time, agribusiness
firms will be able to expand food processing activities by
securing supplies from small producers.

The project builds upon the success of the ongoing Productive
Partnerships Support Project which has allowed the creation of
117 partnership schemes with the commercial private sector,
benefiting 10,400 rural families.  These include partnerships to
improve farm infrastructure, such as irrigation canals,
aquaculture facilities, greenhouses, machinery, equipment and
special studies.   These schemes have generated additional
income and employment, stimulated social cohesion in rural
areas, spread entrepreneurial culture, and generated local
capacity to implement rural partnerships.

The new project aims to finance at least 300 additional
partnerships and reach 25,300 small and medium-sized farm
families.  The project activities will have national coverage
but focus on the departments that have potential for development
through agriculture.

This US$30 million, fixed-spread loan from the International
Bank for Reconstruction and Development (IBRD) is repayable in
17.5 years, and includes a grace period of 5.5 years.

                           *    *    *

As reported in the Troubled Company Reporter-Latin America on
June 15, 2007, Standard & Poor's Ratings Services assigned its
'BB+' long-term senior unsecured rating to the Republic of
Colombia's proposed 2027 Global Titulos de Tesoreria bond, a
bond denominated in Colombian pesos but payable in US dollars.




===================
C O S T A   R I C A
===================


US AIRWAYS: Court Okays Stipulation w/ United on Code Share Pact
----------------------------------------------------------------
In accordance with Sections 1.44 and 9.6(b) of the Joint Plan of
Reorganization and with the consent of the Post-Effective Date
Committee, the U.S. Bankruptcy Court for the Eastern District of
Virginia extended Reorganized U.S. Airways and affiliates'
deadline to object to administrative claims to Oct. 31, 2007.

Reorganized U.S. Airways Inc. and United Air Lines Inc. are
continuing their discussions regarding modifications to, and
assumption of, the Code Share and Regulatory Cooperation
Agreement and the Star Alliance Participation Agreement.

In a stipulation approved by the Court, the Reorganized Debtors
and United agree that:

  (i) the hearing on the Reorganized Debtors' request to assume
      the Agreements is continued to October 18, 2007 at 9:30
      a.m.;

(ii) the deadline for the Reorganized Debtors to assume or
      reject the Agreements is extended through and including
      the October Hearing Date; and

(iii) the time periods referenced in a letter agreement dated
      September 14, 2005, is extended to the October Hearing
      Date.

Based in Tempe, Arizona, US Airways Group Inc.'s (NYSE: LCC) -
http://www.usairways.com/-- primary business activity is the
ownership of the common stock of US Airways, Inc., Allegheny
Airlines, Inc., Piedmont Airlines, Inc., PSA Airlines, Inc.,
MidAtlantic Airways, Inc., US Airways Leasing and Sales, Inc.,
Material Services Company, Inc., and Airways Assurance Limited,
LLC.

US Airways has operations in Japan, Australia, China, Costa
Rica, Philippines, and Spain, among others.

Under a Chapter 11 plan declared effective on March 31, 2003,
USAir emerged from bankruptcy with the Retirement Systems of
Alabama taking a 40% equity stake in the deleveraged carrier in
exchange for $240 million infusion of new capital.

US Airways and its subsidiaries filed another chapter 11
petition on Sept. 12, 2004 (Bankr. E.D. Va. Case No. 04-13820).
Brian P. Leitch, Esq., Daniel M. Lewis, Esq., and Michael J.
Canning, Esq., at Arnold & Porter LLP, and Lawrence E. Rifken,
Esq., and Douglas M. Foley, Esq., at McGuireWoods LLP, represent
the Debtors in their restructuring efforts.  In the Company's
second bankruptcy filing, it lists US$8,805,972,000 in total
assets and US$8,702,437,000 in total debts.

The Debtors' Chapter 11 plan for its second bankruptcy filing
became effective on Sept. 27, 2005.  The Debtors completed their
merger with America West on the same date.  (US Airways
Bankruptcy News, Issue No. 147  Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                          *     *     *

As reported in the Troubled Company Reporter on March 13, 2007,
Standard & Poor's Ratings Services assigned its 'B' rating to US
Airways Group Inc.'s US$1.6 billion secured credit facility due
2014, currently being syndicated.



===================================
D O M I N I C A N   R E P U B L I C
===================================


AES CORP: Dominican Subsidiary Restarts Operations
--------------------------------------------------
DR1 Newsletter reports that AES-Andres, AES Corp.'s unit in the
Dominican Republic, has restarted operations after being shut
due to Hurricane Dean.

The AES Group admitted to DR1 Newsletter that the hurricane
caused some damage to a gas terminal.

The AES Group assured that it has sufficient Liquid Natural Gas
in reserve to keep operating until the damage is fixed in
September 2007, DR1 Newsletter notes.  The hurricane damaged
part of the liquefied natural gas receiving area.  However, the
equipment that sends the gas to the Los Mina generation stations
was unaffected.

The AES Group told DR1 Newsletter that it implemented its
contingency plans for natural disasters.  Repairs were
progressing at a "satisfactory rate."

                       About AES-Andres

AES-Andres is a 300-megawatt natural gas generating facility in
Santo Domingo, Dominican Republic.  It belongs to the AES Group.

                          About AES

AES Corp. -- http://www.aes.com/-- is a global power company.
The company operates in South America, Europe, Africa, Asia and
the Caribbean countries.  Specifically, it also has operations
in India.  Generating 44,000 megawatts of electricity through
124 power facilities, the company delivers electricity through
15 distribution companies.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

                        *     *     *

On Oct. 20, 2006, Moody's Investors Service's downgraded its B1
Corporate Family Rating for AES Corporation in connection with
the implementation of its new Probability-of-Default and Loss-
given-default rating methodology.  Additionally, Moody's revised
its probability-of-default ratings and assigned loss-given-
default ratings on the company's loans and bond debt obligations
including the B1 rating on its senior unsecured notes 7.75% due
2014, which was also given an LGD4 loss-given default rating,
suggesting noteholders will experience a 55% loss in the event
of a default.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 23, 2007, Fitch affirmed AES Corporation's Issuer Default
Rating at 'B+', and assigned a short-term IDR of 'B'.

Fitch also made these rating actions:

* AES
  -- Senior unsecured to 'BB/RR1' from 'BB/RR2'

* AES Trust III
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

* AES Trust VII
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

In addition, Fitch affirms these ratings:

* AES
  -- Senior secured credit facility at 'BB+/RR1';
  -- Junior secured notes at 'BB+/RR1'.


BANCO INTERCONTINENTAL: Jose Malkun to Testify in Fraud Case
------------------------------------------------------------
Dominican Today reports that former central bank employee Jose
Lois Malkun has received a subpoena from the Justice Ministry,
obliging him to appear before the anti-corruption agency DPCA in
the Justice Ministry building at the La Feria sector to answer
questions related to the Banco Intercontinental fraud case.

According to Dominican Today, Mr. Malkun was invited for
questioning as part of a probe on the payments of "over DOP10
million pertaining to the central bank in July 2003."

Mr. Malkun will be asked about his participation in the
Bancredito bank's sale process and the irregularities detected
in the audit by the DF Consulting in the liquidity facilities
provided to the bank, Dominican Today states.

Located in Dominican Republic, Banco Intercontinental aka
Baninter collapsed in 2003 as a result of a massive fraud that
drained it of about US$657 million in funds.  As a consequence,
all of its branches were closed.  The bank's current and savings
accounts holders were transferred to the bank's new owner --
Scotiabank.  The bankruptcy of Baninter was considered the
largest in world history, in relation to the Dominican
Republic's Gross Domestic Product.  It cost Dominican taxpayers
DOP55 billion and resulted to the country's worst economic
crisis.




=============
E C U A D O R
=============


FREEPORT-MCMORAN: Indonesian Unit Must Prepare Compromising Deal
----------------------------------------------------------------
Freeport-McMoRan Copper & Gold Inc.'s unit, PT Freeport
Indonesia, cannot reject the renegotiation of its working
contract with the government, Tempo Interactive reports, citing
Director General of Minerals, Coal and Geothermal Simon
Sembiring.

The report relates that Mr. Sembiring said that they will only
accept the company's refusal if the renegotiation process can
disrupt Freeport's contracts with other parties.  The
Coordinating Minister for the Economy has been informed since
this is an inter-departmental affair.

Freeport's audit result, which covers production, environment,
community development, state revenue and security, changes the
term of royalty payment calculations from the previous three
months to after shipping, and will increase the gold royalty
from one percent to 3.5 percent of sales price.  In regards to
the copper royalty at three percent, this has been adjusted in
line with the Government Regulation No. 45/2003 on State Royalty
Revenue, Tempo explains.

The report notes that Purnomo Yusgiantoro, Energy and Mineral
Resources Minister, said that they would first discuss the
contract with Freeport before any changes will be done.

Mindo Pangaribuan, Freeport Indonesia's spokesperson,
acknowledged that his side had not yet received the result of
the government's audit into Freeport, the report says.

The report adds that Mr. Pangaribuan said that the company has
improved its environmental performance in line with provisions,
in regards with the environment matters.  Freeport carried out
environmental audit every year.

Rachmat Witoelar, Environment Minister, said his ministry would
continue supervising Freeport Indonesia's mining in Papua.  He
would see to it that the company has meet all permit
requirements so not to damage the environment, Tempo says.

                   About Freeport-McMoRan

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
-- http://www.fcx.com/-- is an international mining industry
leader based in North America with large, long-lived,
geographically diverse assets and significant proven and
probable reserves of copper, gold and molybdenum.  Freeport-
McMoRan has one of the most dynamic portfolios of operating,
expansion and growth projects in the copper mining industry.
The Grasberg mine in Indonesia, the world's largest copper and
gold mine in terms of reserves, is the company's key asset.
Freeport-McMoRan also operates significant mining operations in
North and South America and is developing the world-class Tenke
Fungurume project in the Democratic Republic of Congo.

The completion of Freeport-McMoran's acquisition further expands
the company's global operations.  The former Phelps Dodge Corp.
has mining operations in Chile, Peru, Colombia, Venezuela and
Ecuador, among others.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 19, 2007, that Fitch Ratings upgrades these ratings of
Freeport-McMoRan Copper & Gold Inc.

FCX

    -- US$1 billion Secured Bank Revolver to 'BB+' from 'BB';
    -- 6.875% secured notes due 2014 to 'BB+' from 'BB';
    -- Unsecured notes due 2015 and 2017 to 'BB' from 'BB-';
    -- 7% convertible notes due 2011 to 'BB' from 'BB-'.

In addition, Fitch affirms these ratings on FCX:

    -- Issuer Default Rating at 'BB';

    -- US$500 million PT Freeport Indonesia/FCX Secured Bank
       Revolver at 'BBB-';

    -- Convertible Preferred Stock at 'B+'.

Fitch also assigns a rating of 'BB+' to FCX's new US$2.45
billion five-year term loan A.  Proceeds of the loan were used
to repay the US$2.45 billion remaining under the term loan due
March 2014.  The term loan amortizes at 10% per annum with the
remainder due at maturity.

The Rating Outlook remains Positive.

On March 29, 2007, Moody's Investors Service upgraded Freeport-
McMoRan Copper & Gold Inc.'s or Freeport's corporate family
rating to Ba2 from Ba3.

As reported in the Troubled Company Reporter on March 27, 2007,
Standard & Poor's Ratings Services assigned its 'B' preferred
stock rating to the proposed US$2.5 billion US6.75% mandatory
convertible preferred stock offering of Freeport-McMoRan
Copper & Gold Inc.


FREEPORT-MCMORAN: Atticus Capital Increases Stake
-------------------------------------------------
Atticus Capital LP raised its stake in mining company Freeport-
McMoRan Copper & Gold Inc. to 7.5%, Associated Press reports,
citing a regulatory filing with the Securities and Exchange
Commission.

According to the report, Atticus now owns 28.6 million shares of
Freeport.  In a June 11 regulatory filing, the Atticus reported
owning a 6.4% stake in the company, or 24.3 million shares.

Atticus also has long economic exposure to 19.4 million shares
for a total exposure of 47.9 million shares, or a 12.6% stake in
the mining company, The Press notes.

Reuters adds that Atticus, in June, had met with third parties
to encourage strategic deals with the Freeport.  Atticus' stake
in the company comes in part from its previous holding in Phelps
Dodge Corp., a miner that Freeport bought earlier this year.

                    About Freeport-McMoRan

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)
-- http://www.fcx.com/-- is an international mining industry
leader based in North America with large, long-lived,
geographically diverse assets and significant proven and
probable reserves of copper, gold and molybdenum.  Freeport-
McMoRan has one of the most dynamic portfolios of operating,
expansion and growth projects in the copper mining industry.
The Grasberg mine in Indonesia, the world's largest copper and
gold mine in terms of reserves, is the company's key asset.
Freeport-McMoRan also operates significant mining operations in
North and South America and is developing the world-class Tenke
Fungurume project in the Democratic Republic of Congo.

The completion of Freeport-McMoran's acquisition further expands
the company's global operations.  The former Phelps Dodge Corp.
has mining operations in Chile, Peru, Colombia, Venezuela and
Ecuador, among others.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 19, 2007, that Fitch Ratings upgrades these ratings of
Freeport-McMoRan Copper & Gold Inc.

FCX

    -- US$1 billion Secured Bank Revolver to 'BB+' from 'BB';
    -- 6.875% secured notes due 2014 to 'BB+' from 'BB';
    -- Unsecured notes due 2015 and 2017 to 'BB' from 'BB-';
    -- 7% convertible notes due 2011 to 'BB' from 'BB-'.

In addition, Fitch affirms these ratings on FCX:

    -- Issuer Default Rating at 'BB';

    -- US$500 million PT Freeport Indonesia/FCX Secured Bank
       Revolver at 'BBB-';

    -- Convertible Preferred Stock at 'B+'.

Fitch also assigns a rating of 'BB+' to FCX's new US$2.45
billion five-year term loan A.  Proceeds of the loan were used
to repay the US$2.45 billion remaining under the term loan due
March 2014.  The term loan amortizes at 10% per annum with the
remainder due at maturity.

The Rating Outlook remains Positive.

On March 29, 2007, Moody's Investors Service upgraded Freeport-
McMoRan Copper & Gold Inc.'s or Freeport's corporate family
rating to Ba2 from Ba3.

As reported in the Troubled Company Reporter on March 27, 2007,
Standard & Poor's Ratings Services assigned its 'B' preferred
stock rating to the proposed US$2.5 billion US6.75% mandatory
convertible preferred stock offering of Freeport-McMoRan
Copper & Gold Inc.




=====================
E L   S A L V A D O R
=====================


* EL SALVADOR: Regulator Completes Probe on Three Power Firms
-------------------------------------------------------------
El Salvador's antitrust regulator Superintendencia de
Competencia has concluded a probe on the alleged monopolistic
practices of AES Corp.'s unit AES-Clesa and power distributors
Caess and Delsur, Business News Americas reports.

BNamericas relates that the investigation started in February
2007.

Superintendencia de Competencia said in a statement that Caess
allegedly blocked the entry of distribution firm B&D, while
Delsur blocked that of Abruzzo.

According to Superintendencia de Competencia's statement, the
regulator's board council will review findings.  It will issue a
final resolution within three months.

Caess, AES-Clesa and Delsur allegedly prevented Edesal from
entering the Salvadorian market.  The companies could face
fines, BNamericas states.

                        About AES-Clesa

AES Clesa is an electricity distribution company based in Santa
Ana, El Salvador.  It serves approximately 257,000 customers in
the western region of El Salvador, including Santa Ana, the
country's second-largest city, as well as other surrounding
areas.  AES Clesa is 79.66% owned by AES El Salvador, an
indirect subsidiary of AES and Energia Global International.

                          About AES

AES Corp. -- http://www.aes.com/-- is a global power company.
The company operates in South America, Europe, Africa, Asia and
the Caribbean countries.  Specifically, it also has operations
in India.  Generating 44,000 megawatts of electricity through
124 power facilities, the company delivers electricity through
15 distribution companies.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 27, 2007, Standard & Poor's Ratings Services affirmed its
'BB+' long- and 'B' short-term sovereign credit ratings on the
Republic of El Salvador.  S&P said the outlook remains stable.




=================
G U A T E M A L A
=================


ALCATEL-LUCENT: Messrs. D'Amelio and Quigley Resigns
----------------------------------------------------
Alcatel-Lucent has announced changes to its senior leadership
team.

Frank D'Amelio, Chief Administrative Officer of Alcatel-Lucent
is leaving the company to accept the position of Chief Financial
Officer at Pfizer and Mike Quigley, President, Science,
Technology and Strategy of Alcatel-Lucent, has decided to leave
the company and return to Australia.

"During the past year, both Mike and Frank have contributed
significantly to the planning for and the launch of Alcatel-
Lucent.  With their help, we achieved a number of important
milestones in a very short time.  We wish them much success as
they embark on new chapters in their lives," said Pat Russo,
Alcatel-Lucent Chief Executive Officer.

"When we announced the merger of Alcatel-Lucent we acknowledged
the breadth and depth of the senior management team and we
anticipated that there would be an evolution in leadership
responsibilities, which is natural.  We are well served with a
strong bench of top executive talent that we can draw upon as
well as an extensive set of resources that we believe are
unrivalled in the industry," said Mr. Russo.

With Mr. Quigley's departure, Etienne Fouques, currently head of
the Carrier Business Segment will assume the leadership for the
Science, Technology and Strategy functions that previously
reported to Mr. Quigley.  In addition he will also oversee the
Services Business Group, which will continue to be led by John
Meyer.

Michel Rahier, head of the Wireline Business Group will assume
the overall leadership of the Carrier Business Segment, which
includes Wireline, Wireless, and Convergence businesses.  The
individuals who previously reported to Etienne as head of the
Carrier Business Segment will now report to Mr. Rahier.
Further, the company will strengthen the interface between the
product businesses and the supply chain by reporting the Global
Supply Chain to Mr. Rahier as well.

With Mr. D'Amelio's departure the organizations that previously
reported to him will now report to other members of the senior
leadership team.  In addition to his role as Chief
Administrative Officer, Mr. D'Amelio also oversaw the
Integration Program Office, along with Christian Reinaudo.
Mr. Reinaudo will continue in his role, and together with Janet
Davidson will co-lead these efforts. The discipline for
monitoring and managing our integration activities are in place
and operational and our integration plans, as the company have
said, are progressing.

Headquartered in Paris, France, Alcatel-Lucent --
http://www.alcatel-lucent.com/-- provides solutions that enable
service providers, enterprises and governments worldwide to
deliver voice, data and video communication services to end
users.  Alcatel-Lucent maintains operations in 130 countries,
including, Austria, Germany, Hungary, Italy, Netherlands,
Ireland, Canada, United States, Costa Rica, Dominican Republic,
El Salvador, Guatemala, Peru, Venezuela, Indonesia, Australia,
Brunei and Cambodia.  On Nov. 30, 2006, Alcatel and Lucent
Technologies Inc. completed their merger transaction, and began
operations as a communication solutions provider under the name
Alcatel-Lucent on Dec. 1, 2006.

                        *     *     *

As reported on April 13, 2007, Fitch Ratings affirmed Alcatel-
Lucent's ratings at Issuer Default 'BB' with a Stable Outlook,
senior unsecured 'BB' and Short-term 'F2' and simultaneously
withdrawn them.

As of Feb. 7, 2007, Moody's Investor Services put a Ba2 rating
on Alcatel's Corporate Family and Senior Debt rating.  Lucent
carries Moody's B1 Senior Debt rating and B2 Subordinated debt &
trust preferred rating.

Alcatel-Lucent's Long-Term Corporate Credit rating and Senior
Unsecured Debt carry Standard & Poor's Ratings Services' BB
rating.  Its Short-Term Corporate Credit rating stands at B.




===============
H O N D U R A S
===============


* HONDURAS: Hondutel's Financial Statements Needed in Probe
-----------------------------------------------------------
Honduran news daily La Prensa reports that a congressional
technical commission has asked for state incumbent Hondutel's
financial statements for 2005 to 2007 to help in the
investigation of the illegal use of the firm's networks.

La Prensa notes that the commission is conducting the probe.  It
is made up of members of the legislative and executive branches.

An international consultant will also investigate the illegal
use of the networks over the last seven years, Business News
Americas relates.

                        *     *     *

Moody's Investor Service assigned these ratings on Honduras:

                     Rating     Rating Date

   Senior Unsecured    B2       Sept. 29, 1998
   Long Term IDR       B2       Sept. 29, 1998




=============
J A M A I C A
=============


WORLDSPAN LP: Completes US$1.4 Billion Sale Deal with Travelport
----------------------------------------------------------------
Travelport Limited, the parent company of the Travelport group
of companies, has completed its US$1.4 billion acquisition of
Worldspan L.P.

The deal is expected to improve Travelport's networks of travel
brands, content and service offerings while enabling it to
succeed in a competitive industry.

"With an expanded global footprint and proven track record of
customer service and technology leadership, our global team will
work to meet the evolving needs of our customers as a more
effective and efficient travel distribution provider in a
rapidly changing industry," Jeff Clarke, president and CEO of
Travelport and chairman of Orbitz Worldwide, said.  "We will be
working on enhancements and operational efficiencies including
systems integrity, fare accuracy, and ease-of-use that
capitalize on the GDS knowledge and experience of Galileo and
Worldspan."

"Galileo will be enhanced by Worldspan's online distribution
technology platform, while Worldspan will benefit from Galileo's
expanded supplier base and expansive content," Gordon Wilson,
president and CEO of the Travelport GDS division, said.  "The
complementary strengths of both companies will bring improved
offerings for our agency and supplier customers, and we
are particularly excited about the technology innovations and
breadth of services we will be able to bring our suppliers and
subscribers in the future."

The Travelport GDS division comprises the Galileo and Worldspan
businesses; Shepherd Systems, an expert in the field of
providing business and marketing intelligence to the travel
industry; AiRes, the next generation server based internal
airline IT product suite and Thor, a provider of distribution
and marketing services to travel-related companies.

                     About Travelport Limited

Travelport operates Travelport GDS, comprised of Galileo and
Worldspan, and GTA, a wholesaler of travel content. In addition,
it also owns a controlling interest in Orbitz Worldwide, an
online travel company.  Travelport has approximately 6000
employees and now operates in 145 countries.  Travelport is a
private company owned by The Blackstone Group of New York,
Technology Crossover Ventures of Palo Alto, California and One
Equity Partners of New York.

                      About Worldspan L.P.

Headquartered in Atlanta, Georgia, Worldspan L.P. -
http://www.worldspan.com/-- is into travel technology services
for travel suppliers, travel agencies, e-commerce sites and
corporations worldwide.  Worldspan provides comprehensive
electronic data services linking thousands of travel suppliers
around the world to a customer base.

The company's Latin American operations are in Argentina, The
Bahamas, Brazil, Jamaica, Mexico, Peru, Puerto Rico, Uruguay and
Venezuela.

                          *     *     *

As reported in the Troubled Company Reporter on March 28, 2007,
Standard & Poor's Ratings Services affirmed its ratings,
including the 'B' corporate credit rating, on Worldspan L.P.,
following the downgrade of its intended merger partner,
Travelport LLC, to 'B' from 'B+'.

Moody's Investor Services placed Caa1 on senior subordinate
rating.




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


ACXIOM CORP: Inks with Goodmail to Provide CertifiedEmail Access
----------------------------------------------------------------
Acxiom(R) Corporation entered into a partnership between Acxiom
Digital, a leading provider of integrated digital marketing
solutions for Global 2000 enterprises, and Goodmail Systems,
Inc., the creator of CertifiedEmail, which will provide
qualifying Acxiom Digital clients with immediate access to
CertifiedEmail.

Under terms of the partnership, Acxiom Digital will become a
CertifiedEmail Premier Provider.  Those Acxiom Digital clients
that meet Goodmail's rigorous accreditation standards will be
able to leverage CertifiedEmail's authentication technologies to
enhance the reach and effectiveness of their email marketing
campaigns.

CertifiedEmail is a class of trusted email available to senders
with the best email practices and the lowest complaint rates.
Currently supported by seven of the nation's top ten mailbox
providers, CertifiedEmail improves email effectiveness by
delivering messages specially marked with a unique blue ribbon
envelope icon and assures that all email messages are delivered
directly to consumers' inboxes rather than being inadvertently
routed to junk folders.  Additionally, CertifiedEmail ensures
that images and links are displayed properly and in full within
email messages, allowing consumers to view graphic-rich email
content -- rather than it being blocked and restricted.  The
blue ribbon icon that appears on CertifiedEmail messages
provides consumers validation that a message is coming from a
trusted and legitimate source.

"Our joint offering with Goodmail is further validation of
Acxiom Digital's ongoing commitment to providing best-in-class
integrated digital marketing technology and services to our
clients," said Kevin Johnson, leader of Acxiom Digital.  "In an
effort to protect their customers from spam, many mailbox
providers have disabled email images and links by default. As a
result, the functionality and value of legitimate email messages
has been reduced. By offering Goodmail Certified Email, we will
help clients restore full email functionality and increase its
value to recipients and marketers."

"Acxiom Digital provides industry-leading solutions to some of
the world's largest and best known companies," said Daniel
Dreymann, co-CEO of Goodmail.  "CertifiedEmail assures customer
communications are received as designed, marked as authentic and
desired."

                     About Goodmail Systems

Goodmail Systems -- http://www.goodmailsystems.com/-- makes
CertifiedEmail(TM), the industry standard class of trusted
email.  CertifiedEmail provides a safe and reliable means for
consumers to easily identify authentic messages from legitimate
commercial and nonprofit senders.  Each CertifiedEmail is sent
with a cryptographically secure token that assures authenticity,
and is marked in the inbox with a unique blue ribbon envelope
icon, enabling consumers to visually distinguish messages which
are real and sent from senders with whom they have a pre-
existing relationship.  Available to senders meeting strict
standards for best email practices and low complaint rates, it
is the only class of email available that assures delivery of
all opt-in email messages to the inbox, with links and images
automatically rendered intact, yielding measurable improvements
in email program effectiveness.  CertifiedEmail has been adopted
by seven of the nation's top ten mailbox providers and 150
government agencies.  It is supported in North America and the
United Kingdom by a wide network of email platforms and service
providers.

                        About Acxiom

Founded in 1969, Acxiom has locations throughout the United
States, in Europe particularly in France and Germany, and in
Australia and China in the Asia-Pacific region.  Acxiom has a
team of specialists with sales and business development
associates based in the largest Latin American markets: Brazil,
Argentina and Mexico.

                        *     *     *

Standard & Poor's Ratings Services assigned its loan and
recovery ratings to Little Rock, Arkansas-based Acxiom Corp.'s
proposed US$800 million secured first-lien financing.  The
first-lien facilities consist of a US$200 million revolving
credit facility and a US$600 million term loan.  They are rated
'BB' with a recovery rating of '2'.

Moody's Investors Service assigned a Ba2 rating to Acxiom
Corporation's US$800 million senior secured credit facilities,
while affirming its corporate family rating of Ba2.  Moody's
said the outlook is stable.


BALLY TOTAL: Landlords Balk at Amended US$292,000,000 DIP Pact
--------------------------------------------------------------
Twenty-six landlords that are parties to unexpired leases
of non-residential real property with Bally Total Fitness
Holding Corporation and its debtor-affiliates, filed objections
to the amended proposed debtor-in-possession financing agreement
the Debtors entered into with Morgan Stanley Senior Funding Inc.

As reported in the Troubled Company Reporter on Aug. 2, 2007,
Morgan Stanley agreed to arrange a US$292,000,000 DIP facility
comprised of a US$50,000,000 revolving facility and a
US$242,000,000 term loan facility, which was later amended.

Under the amended DIP agreement, the DIP Lenders would provide
the DIP Facility and Exit Facility to the Debtors regardless
of whether the Debtors sought or obtained confirmation of their
Original Plan or Modified Plan.

The Debtors noted that the modifications do not materially alter
the treatment of any class of claims or interests in the Plan.

The Landlords objected to the Amended DIP Agreement to the
extent that the Debtors pledge, grant a security interest or
lien on, sell, assign or otherwise transfer the Debtors'
interest in the Leases to the DIP Lenders.

Most, if not all, of the Objecting Landlords' Leases are leases
of premises located in shopping centers, and contain express
language prohibiting the granting of liens in, the leasehold
interest.  Moreover, many of the Objecting Landlords' leases are
encumbered by mortgages, which specifically prohibit the
Landlord from allowing any encumbrances to be granted upon the
various tenant Leases, which are themselves subject to the prior
mortgage lien of the Landlords' lender.

"Although it is not unusual for lenders to require liens on a
debtor's real property leases, these liens are frequently
limited to only the proceeds of the debtor's leasehold interests
and do not extend to the leaseholds themselves," Kevin M.
Newman, Esq., at Menter, Rudin & Trivelpiece PC, in Syracuse,
New York, counsel for Objecting Landlord Inland Commercial
Property Management, Inc., states.

Under Section 365(f)(2) of the Bankruptcy Code, Mr. Newman says,
a debtor cannot assign an unexpired lease of nonresidential real
property without first proving that the proposed assignee can
provide the landlord with adequate assurance of future
performance.

In the event the Debtors defaulted and the DIP Lenders
foreclosed on the Leases, landlords could suffer a de facto
assignment of the Leases to a new tenant, without adequate
assurance of future performance as required by Section 365(f),
contends Mr. Newman.

Against this backdrop, the Objecting Landlords ask the Court to
modify the description of "Collateral" in the Court's final DIP
order, to provide that the Collateral does not include the
Debtors' leasehold interests, only the proceeds from the sale,
assignment or other disposition of the leasehold interests.

The Objecting Landlords are:

   (1) Fairlane Town Center LLC,
   (2) Inland Commercial Property Management, Inc.,
   (3) Inland U.S. Management LLC,
   (4) Centro Property Group,
   (5) Federal Realty Investment Trust,
   (6) SVF Kendall Miami LLC,
   (7) Prudential Insurance Company of America,
   (8) RREEF USA Funds,
   (9) Sywest Development,
  (10) West Valley Properties, Inc.,
  (11) Commercial Realty Enterprises LLC,
  (12) James Campbell Company,
  (13) Blackhawk Centercal LLC,
  (14) Columbia Cascade Plaza LLC,
  (15) Regency Centers LP,
  (16) Leo P. Siklar,
  (17) Libby Siklar,
  (18) The Morris Rochlin Trust,
  (19) Westfield LLC,
  (20) Hawthorne LP,
  (21) Wheaton Plaza Regional Shopping Center LLP,
  (22) Simon Property Group, Inc.,
  (23) High Definition Realty LLC,
  (24) Northlake Festival LLC,
  (25) Textron Financial Corporation, and
  (26) The Matton Group Ltd.

Based in Chicago, Illinois, Bally Total Fitness Holding Corp.
(Pink Sheets: BFTH.PK) -- http://www.ballyfitness.com/--
operates fitness centers in the U.S., with over 375 facilities
located in 26 states, Mexico, Canada, Korea, China and the
Caribbean under the Bally Total Fitness(R), Bally Sports
Clubs(R) and Sports Clubs of Canada (R) brands.

Bally Total and its affiliates filed for chapter 11 protection
on July 31, 2007 (Bankr. S.D.N.Y. Case No. 07-12396) after
obtaining requisite number of votes in favor of their pre-
packaged chapter 11 plan.  Joseph Furst, III, Esq. at Latham &
Watkins, L.L.P. represents the Debtors in their restructuring
efforts.  As of June 30, 2007, the Debtors had US$408,546,205 in
total assets and US$1,825,941,54627 in total liabilities.

No schedule has been set to date for an organizational meeting
that would create an Official Committee of Unsecured Creditors.
The Court recently held that the meeting of creditors pursuant
to Section 341(a) of the Bankruptcy Code will not be convened,
and is canceled, if the Debtors' Plan of Reorganization is
confirmed on or prior to October 16, 2007.  (Bally Total Fitness
Bankruptcy News, Issue No. 6; Bankruptcy Creditors' Services
Inc. http://bankrupt.com/newsstand/or 215/945-7000)


CKE RESTAURANTS: Reports Positive Blended Same-Store Sales
----------------------------------------------------------
CKE Restaurants Inc. reported period seven same-store sales for
the four weeks ended Aug. 13, 2007, for Carl's Jr.(R) and
Hardee's(R) as well as second quarter results for the twelve
weeks ended on the same date.

Brand        Period 7       Second Quarter   Fiscal Year to Date
------       --------       --------------   -------------------
         FY 2008   FY 2007  FY 2008  FY 2007   FY 2008   FY 2007
         -------   -------  -------  -------   -------   -------
Carl's     0.0%     +6.3%    +2.0%    +4.8%     +0.8%     +5.2%
Jr.
Hardee's  +5.0%     +1.4%    +2.9%    +3.0%     +2.3%     +4.4%
Blended   +2.6%     +3.8%    +2.4%    +3.9%     +1.6%     +4.8%

Commenting on the Company's performance, Andrew F. Puzder,
president and chief executive officer, said, "We are pleased to
report positive blended same-store sales of 2.6 percent for
period seven and 2.4 percent for the second quarter.  In
addition, we are very pleased to report the 22nd consecutive
period of positive same-store sales for Hardee's, which ended
period seven up an impressive five percent despite the lack of a
new lunch/dinner entree product during the period."

"For period seven, on a two-year cumulative basis, Carl's Jr.
same-store sales have increased 6.3 percent and Hardee's same-
store sales have increased 6.4 percent.  For the second quarter,
on a two-year cumulative basis, Carl's Jr. same-store sales have
increased 6.8 percent and Hardee's same store sales have
increased 5.9 percent."

"We believe this sustained positive performance is the result of
our consistent focus on innovative premium products, cutting-
edge advertising and superior customer service.  Going forward,
we will maintain our focus on these initiatives, as well as our
remodel and dual-branding programs."

"During period seven, Carl's Jr. promoted the Teriyaki
Burger(TM).  The burger has been so popular with our guests we
have added the sandwich to the menu on a full-time basis.  This
period's performance was impressive considering that Carl's Jr.
was lapping last year's very successful reintroduction of the
original 'meat-as-a-condiment' Pastrami Burger(TM).  Carl's Jr.
also featured the latest flavor of its Hand-Scooped Ice Cream
Shakes & Malts(TM) lineup - Orangesicle(TM) and, during the
breakfast daypart, the Breakfast Club Sandwich(TM)," said
Mr. Puzder.  "Carl's Jr. average unit volume for period seven
was higher than any comparable period seven ever."

"For the second quarter, Carl's Jr. recorded a two percent same-
store sales increase."  Revenue for the second quarter from
company-operated Carl's Jr. restaurants (exclusive of franchise-
related revenue and royalties) was approximately US$138.9
million.

"Hardee's continued to feature the Patty Melt Thickburger(TM)
and Breakfast Club Sandwich(TM) during the period.  In addition,
during the breakfast daypart, Hardee's introduced Blueberry
Biscuits on July 16 and, during the lunch/dinner daypart,
debuted its own Orange Cream Hand-Scooped Ice Cream Shakes and
Malts on July 17," Mr. Puzder continued.  "Hardee's period seven
average unit volume was higher than any comparable period seven
since 1994, which is as far back as we can check."

"Hardee's same-store sales for the second quarter increased 2.9
percent."  Revenue for the second quarter from company-operated
Hardee's restaurants (exclusive of franchise-related revenue and
royalties) was approximately $148.8 million.

For the second quarter, consolidated revenue from company-
operated restaurants (exclusive of all franchise-related revenue
and royalties) was approximately as:

              Carl's Jr.           US$138.9 million
              Hardee's             US$148.8 million
              ----------           ----------------
              Total                US$287.7 million

                Second Quarter Cost Trends Update

"Last period, we provided some general insight with respect to
certain of our operating expenses for the second quarter.  While
we have yet to complete our review of the cost components for
the full quarter, we will attempt to update the limited
information we provided in our July 24 same-store sales report.
Investors should be aware that there may be other material
trends which could adversely or positively impact operating
expenses or our business in general."

"We continue to experience higher food costs due to increased
prices for beef, pork, oils and cheese at both our brands,
particularly Hardee's.  As previously stated, we do not expect
our Carl's Jr. distribution center relocation to have a material
impact on our second quarter food and packaging costs.  Still,
we anticipate food and packaging costs as a percentage of
company-operated revenue will exceed our results for the first
quarter of fiscal 2008."

"Excluding potential workers' compensation reserve adjustments,
second quarter labor costs and employee benefits, as a percent
of company-operated revenue, are expected to be above our
results for the first quarter of fiscal 2008.  This increase is
essentially due to state law minimum wage increases in many of
the states where we operate as well as an increase in the
federal minimum wage rate which went into effect last month."

"Occupancy expense at Carl's Jr. will continue to be negatively
impacted by consumer price index (CPI) and fair market value
(FMV) based rent increases, higher depreciation due to our new
point of sale (POS) system, and our ongoing remodel activity.
We anticipate consolidated occupancy costs as a percent of
company-operated revenue for the second quarter will be higher
than the results reported in the first quarter of fiscal 2008."

"As previously stated, we recovered US$2 million in previously
unrecognized royalties from past due Hardee's franchisees in the
prior year quarter that did not recur to the same extent this
quarter.  As a result, we expect royalty revenue for the quarter
to be below the amount reported in the prior year quarter."

Same-store sales results for period eight, ending Sept. 10,
2007, will be reported on or about Sept. 19, 2007.

As of the end of its fiscal 2008 first quarter ended May 21,
2007, CKE Restaurants, through its subsidiaries, had a total of
3,022 franchised, licensed or company-operated restaurants in 43
states and in 13 countries, including 1,101 Carl's Jr.
restaurants and 1,905 Hardee's restaurants.

                    About CKE Restaurants

Based in Carpinteria, Calif., CKE Restaurants, Inc. (NYSE: CKR)
-- http://www.ckr.com-- through its subsidiaries, franchisees
and licensees, operates some of the most popular U.S. regional
brands in quick-service and fast-casual dining, including the
Carl's Jr.(R), Hardee's(R), La Salsa Fresh Mexican Grill(R) and
Green Burrito(R) restaurant brands.  The company operates 3,131
franchised, licensed or company-operated restaurants in 43
states and in 13 countries -- including Mexico and Singapore.

                        *     *     *

As reported in the Troubled Company Reporter on March 29, 2007,
Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating on CKE Restaurants.  S&P said the outlook was
stable.


CORPORACION DURANGO: Amends Terms of Tender Offer on Sr. Notes
--------------------------------------------------------------
Corporacion Durango, S.A.B. de C.V. had amended the terms of its
cash tender offer for any and all of its outstanding Series B
Step Up Rate Senior Secured Guaranteed Notes Due 2012 (CUSIP No.
21986MAK1) to permit withdrawals of tendered Notes prior to the
Modified Withdrawal Rights Termination Date.  As a result, the
Offer to Purchase and Consent Solicitation Statement, dated
June 21, 2007, and the related Consent and Letter of
Transmittal, are deemed to have been amended as follows:

   1) All statements in the Offer to Purchase and Letter of
      Transmittal to the following effect:

       "Notes tendered prior to 5:00 p.m., New York City time,
       on the Early Participation Date may only be properly
       withdrawn prior to 5:00 p.m., New York City time, on the
       Early Participation Date, but not thereafter, except in
       the limited circumstances.  Notes tendered after 5:00
       p.m., New York City time, on the Early Participation Date
       and prior to 12:00 midnight, New York City time, on the
       Expiration Date may not be withdrawn, except in the
       limited circumstances.  Notes tendered and not
       subsequently withdrawn prior to 5:00 p.m., New York City
       time, on the Early Participation Date and Notes tendered
       after 5:00 p.m., New York City time, on the Early
       Participation Date, and prior to 12:00 midnight,  New
       York City time, on the Expiration Date may be withdrawn
       only if the Company reduces the amount of the Offer
       Price, the Early Participation Payment or the principal
       amount of Notes subject to the Offer or is otherwise
       required by law (as determined by the Company) to permit
       withdrawal."

       "Any and all Notes tendered prior to 5:00 p.m., New York
       City time, on the Modified Withdrawal Rights Termination
       Date may be withdrawn at any time prior to 5:00 p.m., New
       York City time, on the Modified Withdrawal Rights
       Termination Date, but not thereafter, except in the
       limited circumstances described below. Notes tendered and
       not subsequently withdrawn prior to 5:00 p.m., New York
       City time, on the Modified Withdrawal Rights Termination
       Date may be withdrawn only if the company reduces the
       amount of the Offer Price, the Early Participation
       Payment or the principal amount of Notes subject to the
       Offer or is otherwise required by law (as determined by
       the Company) to permit withdrawal."

    2)  The "Modified Withdrawal Rights Termination Date" will
        be a date determined by the company in its sole
        discretion and is expected to be the date on which the
        company enters into a definitive agreement on terms and
        conditions satisfactory to the company with respect to
        the issuance and sale of debt securities expected to
        result in the receipt by the company of proceeds of at
        least US$520 million.

    3)  The company will give oral or written notice of the
        proposed Modified Withdrawal Rights Termination Date to
        the Depositary at least two business days prior to the
        proposed Modified Withdrawal Rights Termination Date.
        The company will also make a public announcement of the
        proposed Modified Withdrawal Rights Termination Date as
        promptly as practicable by public announcement thereof.
        Such announcement will be made no later than 9:00 a.m.,
        New York City time, on the first business day following
        the date on which the Modified Withdrawal Rights
        Termination Date is determined.  Without limiting the
        manner in which the company may choose to make any
        public announcement, the company shall have no
        obligation to publish, advertise or otherwise
        communicate any such public announcement other than by
        issuing a release to the Dow Jones News Service.

Procedures for validly withdrawing tendered Notes are set forth
in the Offer to Purchase under the caption "Terms of the Tender
Offer and Consent Solicitation-Withdrawal of Tenders and
Revocations of Consents."  A valid withdrawal of tendered Notes
will be deemed a revocation of the related Consents.  In order
for a Holder to revoke a Consent, such Holder must withdraw the
related tendered Notes.

Withdrawals of tenders of Notes may not be rescinded, and any
Notes properly withdrawn will thereafter be deemed not validly
tendered for purposes of the Tender Offer.  Properly withdrawn
Notes may, however, be retendered by again following one of the
procedures described in the Offer to Purchase under the caption
"Terms of the Tender Offer and Consent Solicitation-Procedures
for Tendering Notes and Delivering Consents" at any time on or
prior to the Expiration Date.  However, holders of properly
withdrawn Notes that are retendered will be eligible to receive
only the Offer Price and not the Total Consideration.

In addition, Durango announced that it has extended the period
of the Tender Offer until 5:00 p.m., New York City time, on
Friday, Sept. 14, 2007.  All references to the "Expiration
Date" in the Offer to Purchase and the Letter of Transmittal
shall be deemed to be references to the New Expiration Date, and
all references to "12:00 midnight, New York City time, on the
Expiration Date" in the Offer to Purchase and the Letter of
Transmittal will be deemed to be references to 5:00 p.m., New
York City time, on the New Expiration Date.

The other terms and conditions of the Tender Offer remain
unchanged.  Durango may further amend or extend the period of
the Tender Offer at Durango's sole discretion.

The Expiration Date previously announced on August 17, 2007 was
5:00 p.m., New York City time, on Friday, August 24, 2007.  As
of 5:00 p.m., New York City time, on Aug. 21, 2007,
US$370,980,723 in aggregate principal amount, or approximately
88.4%, of the outstanding Notes had been tendered and not
withdrawn pursuant to the Tender Offer, including US$359,730,986
in aggregate principal amount, or approximately 85.7%, of the
Notes that were tendered and not withdrawn as of 5:00 p.m., New
York City time, on the Early Participation Date (as defined in
the Offer to Purchase).

Durango has retained Merrill Lynch, Pierce, Fenner & Smith
Incorporated to act as Dealer Manager for the Tender Offer and
Consent Solicitation, and Global Bondholder Services Corporation
to act as the depositary and information agent for the Tender
Offer and Consent Solicitation.

Any questions or requests for assistance regarding the Offer may
be made to the Dealer Manager and Solicitation Agent, Merrill
Lynch & Co., Attention: Liability Management Group at (888) 654-
8637 or (212) 449-4914.  Questions or requests for assistance or
additional copies of the Offer to Purchase and the related
Letter of Transmittal may be directed to the Information Agent,
Global Bondholder Services Corporation, toll free at (866) 794-
2200 (bankers and brokers call collect at (212) 430-3774).

                    About Corporacion Durango

Corporacion Durango, S.A. de C.V. (BMV: CODUSA), the largest
papermaker in Mexico, announced Tuesday that the First Federal
District Court in Durango, Mexico, has approved the company's
plan of reorganization and declared the termination of its
"Concurso Mercantil" proceeding.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 12, 2007, Fitch Ratings has assigned a 'B' foreign and
local currency issuer default rating to Corporacion Durango,
S.A. de C.V.'s. In conjunction with this rating action, Fitch
has assign a 'B+' rating to the company's proposed
US$150 million amortizing five-year notes and its proposed
US$370 million notes due in 2017.  These notes have also been
assigned a Recovery Rating of 'RR3', which is consistent with an
anticipated recovery of 50%-70% in the event of a default.


DURA AUTOMOTIVE: Pacificor Backstop Rights Pact Gets Court Okay
---------------------------------------------------------------
Dura Automotive Systems Inc. obtained the U.S. Bankruptcy Court
for the District of Delaware's approval of its backstop rights
purchase agreement with Pacificor LLC.

Pacificor will underwrite 100% of the backstop commitments in
connection with the sale of approximately 39.4% to 42.6% of the
Reorganized Dura common stock in exchange for a new money
investment of between US$140,000,000 to US$160,000,000.

To address the issues raised by the Official Committee of
Unsecured Creditors and other parties-in-interest, Dura and
Pacificor signed an Amended Backstop Rights Purchase Agreement
dated August 13, 2007.

The Amended Backstop Agreement generally maintains the terms
upon
which Dura will pay fees to Pacificor:

    * a Backstop Commitment Fee equal 4% of the Rights Offering
      Amount, payable upon consummation of the contemplated
      Chapter 11 Plan;

    * an Alternative Transaction Fee equal to 3% of the Maximum
      Rights Offering Amount if the Debtors pursue an
      alternative transaction to the Rights Offering or
      otherwise fail to fulfill certain conditions; and

    * up to US$1,000,000 as reimbursement for reasonable and
      documented out-of-pocket costs.

The conditions for payment of the Alternative Transaction Fee
were, however, modified under the Amended Backstop Agreement.
The payment of the Expense Reimbursement is also regardless of
whether any Alternative Transaction Fee is payable.

The Debtors are required to provide the U.S. Trustee a copy of
the expense reimbursement documentation submitted by Pacificor.
The Amended Backstop Agreement also provides for additional
modifications:

  (1) Terms of Chapter 11 Plan.  Pacificor will have the right
      to terminate the Agreement if the Debtors file, or
      subseqently modify, a Chapter 11 plan containing terms not
      acceptable to it.  The terms subject to Pacificor's
      acceptance, however, will be limited to these areas:

       (a) Exit Facility;

       (b) Size and composition of the Board of Directors;

       (c) Exercise Price;

       (d) New Organizational Documents;

       (e) Subscription Agreement and related notices and forms;

       (f) Stockholders' Agreement;

       (g) Registration Rights Agreement; or

       (h) Effective Date.

      The Amended Backstop Agreement excludes the Management
      Equity Program and Participation in the Rights Equity
      Offering among the matters subject to Pacificor's
      scrutiny.

  (2) Board of Directors.  On the Effective Date, there will be
      seven directors on the Board of Directors of Reorganized
      DASI.  The Board of Directors will be staggered into three
      classes with terms of three years each, except for the
      initial terms which will be for one, two and three year:

        (i) Pacificor's Power to Appoint.  On the Effective
            Date, Pacificor will appoint three directors in its
            sole discretion provided, however, if Pacificor
            holds between 20 to 30% of the Company's New Common
            Stock on the Effective Date, it will have the right
            to appoint two directors, and if Pacificor holds
            less than 20% of the Company's New Common Stock on
            the Effective Date, it will have the right to
            appoint one director;

       (ii) Creditors Committee's Power to Appoint.  On the
            Effective Date, the Committee will appoint two
            directors, both of whom will be Independent
            Directors.  The directors appointed by the Committee
            on the Effective Date will be reasonably acceptable
            to Pacificor, provided, however, that in the event
            the number of directors that Pacificor has the right
            to appoint is reduced by one or two directors as a
            result of its ownership of Common Stock, the
            director or directors will be appointed by the
            Creditors Committee and no acceptance of Pacificor
            will be required for the appointment; and

      (iii) Old DASI Board's Power to Appoint.  One director
            appointed by the Old DASI Board on the Effective
            Date will be an Independent Director, subject to
            reasonable approval by the Creditors Committee and
            the other will be the CEO of Reorganized DASI.

  (3) Waiver.  In the event of that anyone of the conditions to
      the obligations of Pacificor under the Agreement is not or
      cannot be satisfied, Pacificor will, within 14 days after
      being notified thereof in writing by the Debtors or the
      Creditors Committee, elect either to waive the condition
      or to terminate the Agreement by providing written notice
      of its election to the Creditors Committee and to the
      Debtors.  In the event that the Pacificor does not so
      elect in writing within the 14-day period, it will be
      conclusively deemed to have waived the condition.

A full-text copy of the Amended Backstop Agreement is available
for free at http://ResearchArchives.com/t/s?22d8

                     About DURA Automotive

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The company has three locations in Asia -- China, Japan
and Korea.  It has locations in Europe and Latin-America,
particularly in Mexico, Germany and the United Kingdom.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expires on Sept. 30,
2007.  (Dura Automotive Bankruptcy News, Issue No. 26 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DURA AUTO: Summary of Terms of Proposed Stockholders' Agreement
---------------------------------------------------------------
The backstop rights purchase agreement between Dura Automotive
Systems Inc. and Pacificor LLC attached a Stockholders'
Agreement Term Sheet.

TERM                          DESCRIPTION
----                          -----------

Issuer        Reorganized Dura Automotive Systems, Inc.
Class and     Shares of New Common Stock, $0.01 par value, of
Amount of     Reorganized DASI equal to 100% of the total number
Securities    of issued and outstanding shares of New Common
to be         Stock on the Effective Date.  The shares of New
issued        Common Stock issued on the Effective Date will be
              held and, to the extent permitted, transferred
              through the Depository Trust Company.

Initial       Initial Stockholders will be (i) Pacificor, LLC,
Stockholders  in its capacity as a Senior Noteholder and the
              Backstop Party; (ii) Senior Noteholders receiving
              New Common Stock pursuant to the Chapter 11 Plan
              Or the Rights Offering; and (iii) holders of
              Certain Other General Unsecured Claims receiving
              New Common Stock pursuant to the Chapter 11 Plan.
              All transferees of the Initial Stockholders will
              be subject to, and bound by, the terms of the
              Stockholders Agreement.

Holder of     All holders of New Common Stock will hold such
Record        shares through The Depository Trust Company.
Dilution      All shares of New Common Stock issued on the
              Effective Date will be subject to dilution by the
              Management Equity Program.  Any shares of New
              Common Stock issued under the Management Equity
              Program will be subject to, and bound by, the
              terms of the Stockholders Agreement.

Initial       Each Share of New Common Stock will have an
Share         initial value of US$500,000 unless Pacificor
              consents to a lower value.  If the amount of the
              recovery value on account of an Allowed Claim is
              less than the Initial Price, or any whole multiple
              thereof, and recovery on the Allowed Claim in
              satisfaction thereof is in the form of New Common
              Stock, then the Allowed Claim holder will receive
              the number of whole shares of New Common Stock
              determined by dividing the Allowed Claim by the
              Initial Share Price plus one fractional share of
              New Common Stock for the remaining portion of the
              Allowed Claim.  No other fractional shares may
              exist after the Effective Date.

Fees          Pacificor will not receive any premium for selling
              or voting (or refraining from voting) its shares
              in any transaction, and no management fee,
              financial advisory or other consulting fees, non-
              compete fee, closing fee or like compensation will
              be payable to Pacificor.

A copy of the Stockholder's Agreement Term Sheet is available at
no charge at http://ResearchArchives.com/t/s?22d7

                      About DURA Automotive

Rochester Hills, Mich.-based DURA Automotive Systems Inc.
(Nasdaq: DRRA) -- http://www.DURAauto.com/-- is an independent
designer and manufacturer of driver control systems, seating
control systems, glass systems, engineered assemblies,
structural door modules and exterior trim systems for the global
automotive industry.  The company is also a supplier of similar
products to the recreation vehicle and specialty vehicle
industries.  DURA sells its automotive products to North
American, Japanese and European original equipment manufacturers
and other automotive suppliers.

The company has three locations in Asia -- China, Japan
and Korea.  It has locations in Europe and Latin-America,
particularly in Mexico, Germany and the United Kingdom.

The Debtors filed for chapter 11 petition on Oct. 30, 2006
(Bankr. D. Del. Case No. 06-11202).  Richard M. Cieri, Esq.,
Marc Kieselstein, Esq., Roger James Higgins, Esq., and Ryan
Blaine Bennett, Esq., of Kirkland & Ellis LLP are lead counsel
for the Debtors' bankruptcy proceedings.  Mark D. Collins, Esq.,
Daniel J. DeFranseschi, Esq., and Jason M. Madron, Esq., of
Richards Layton & Finger, P.A. Attorneys are the Debtors' co-
counsel.  Baker & McKenzie acts as the Debtors' special counsel.
Togut, Segal & Segal LLP is the Debtors' conflicts counsel.
Miller Buckfire & Co., LLC is the Debtors' investment banker.
Glass & Associates Inc., gives financial advice to the Debtor.
Kurtzman Carson Consultants LLC handles the notice, claims and
balloting for the Debtors and Brunswick Group LLC acts as their
Corporate Communications Consultants for the Debtors.  As of
July 2, 2006, the Debtor had US$1,993,178,000 in total assets
and US$1,730,758,000 in total liabilities.

The Debtors' exclusive plan-filing period expires on Sept. 30,
2007.  (Dura Automotive Bankruptcy News, Issue No. 26 Bankruptcy
Creditors' Service Inc., http://bankrupt.com/newsstand/or
215/945-7000)


QUAKER FABRIC: Organizational Meeting Scheduled on Aug. 28
----------------------------------------------------------
The U.S. Trustee for Region 3 will hold an organizational
meeting to appoint an official committee of unsecured creditors
in Quaker Fabric Corporation and Quaker Fabric Corporation of
Fall River's chapter 11 cases at 10:00 a.m., on Aug. 28, 2007,
at Room 5209, J. Caleb Boggs Federal Building, 844 North King
Street, in Wilmington, Delaware.

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' cases.  The
meeting is not the meeting of creditors pursuant to Section 341
of the Bankruptcy Code.  However, a representative of the Debtor
will attend and provide background information regarding the
cases.

Creditors interested in serving on a Committee should complete
and return to the U.S. Trustee a statement indicating their
willingness to serve on an official committee.

Official creditors' committees, constituted under Section 1102
of the Bankruptcy Code, ordinarily consist of the seven largest
creditors who are willing to serve on a committee.  In some
Chapter 11 cases, the U.S. Trustee is persuaded to appoint
multiple creditors' committees.

Official creditors' committees have the right to employ legal
and accounting professionals and financial advisors, at the
Debtors' expense.  They may investigate the Debtors' business
and financial affairs.  Importantly, official committees serve
as fiduciaries to the general population of creditors they
represent.  Those committees will also attempt to negotiate the
terms of a consensual Chapter 11 plan -- almost always subject
to the terms of strict confidentiality agreements with the
Debtors and other core parties-in-interest.  If negotiations
break down, the Committee may ask the Bankruptcy Court to
replace management with an independent trustee.  If the
Committee concludes that the reorganization of the Debtors is
impossible, the Committee will urge the Bankruptcy Court to
convert the Chapter 11 cases to a liquidation proceeding.

Based in Fall River, Mass., Quaker Fabric Corp. (NASDAQ: QFAB)
-- http://www.quakerfabric.com/-- designs, manufactures, and
markets woven upholstery fabrics primarily for residential
furniture manufacturers and jobbers.  It also develops and
manufactures specialty yarns, including chenille, taslan, and
spun products for use in the production of its fabrics, as well
as for sale to distributors of craft yarns, and manufacturers of
home furnishings and other products.  The company is one of the
largest producers of Jacquard upholstery fabrics.

Quaker Fabric sells its products through sales representatives
and independent commissioned sales agents in the United States,
Canada, Mexico, and internationally.

The company and its affiliate, Quaker Fabric Corporation of Fall
River, filed for chapter 11 protection on Aug. 16, 2007 (Bankr.
D. Del. Case No. 07-11146).  Joel A. Waite, Esq., at Young,
Conaway, Stargatt & Taylor LLP represents the Debtors.  The
Debtors' balance sheet at June 2, 2007 disclosed total assets of
US$155,243,945 and total debts of US$60,407,158.


TIMKEN CO: Closes Repair Service Deal with Weir Canada
------------------------------------------------------
The Timken Company has completed an agreement with Weir Canada,
Inc. to be the authorized provider of Timken repair services for
chock bearing maintenance and chock repair for metal
manufacturing customers in Canada.  The addition of Weir's
service capabilities improves Timken's delivery of repair
services for chocks, which are bearing housings, to Canadian
metal manufacturers.

Timken will provide training in specialized mill repair
services, technical assistance and other necessary support to
Weir.  Based in Ontario, Weir is a leading provider of equipment
maintenance, process support and asset management in
conventional power generation and renewable energy, oil and gas,
water, marine and general industry.

"The metal manufacturers that Timken serves in Canada will
benefit from Weir's close proximity and high-quality service,"
said Roger L. Oberweiser, business development manager for
Timken industrial services.  "This relationship strengthens the
service level and expands Timken's ability to create value for
customers in this important industry."

Long known for its expertise in engineering and manufacturing
bearings, Timken also offers a full range of maintenance and
repair services for heavy industrial manufacturers around the
world.  The agreement with Weir covers only metal manufacturers
and does not extend to other Timken customers in Canada.

"Weir and Timken are similarly dedicated to supplying solutions
to industrial customers, and we both share a reputation for
helping our customers improve performance," said Charles
Laarhuis, regional service director for Weir Canada.  "Timken is
the kind of company that meets our criteria for the service
relationships that we value."

                        About Weir Canada

Established in 1897, Weir Canada, Inc. supplies Canadian
industry with a wide range of industrial products and services.
A Weir Group PLC company, Weir Canada markets leading industrial
products from Weir and a range of select U.S. and United Kingdom
manufacturers. The Weir Group PLC employs around 8,000 people
worldwide across five divisions.

                        About Timken Co.

Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) --
http://www.timken.com/-- is a manufacturer of highly engineered
bearings and alloy steels.  It also provides related components
and services such as bearing refurbishment for the aerospace,
medical, industrial and railroad industries.  The company has
operations in Argentina, Australia, Belgium, Brazil, Canada,
China, Czech Republic, England, France, Germany, Hungary, India,
Italy, Japan, Korea, Mexico, Netherlands, Poland, Romania,
Russia, Singapore, South America, Spain, Taiwan, Turkey, United
States, and Venezuela and employs 27,000 employees.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 15, 2007, Moody's Investors Service affirmed Timken's Ba1
corporate family rating and the Ba1 rating on Timken's US$300
million Medium Term Notes, Series A.




===========
P A N A M A
===========


AES CORP: El Salvador Regulator Completes Probe on Firm's Unit
--------------------------------------------------------------
El Salvador's antitrust regulator Superintendencia de
Competencia has concluded a probe on the alleged monopolistic
practices of AES Corp.'s unit AES-Clesa, Business News Americas
reports.

BNamericas relates that the investigation started in February
2007.  Power distributors Caess and Delsur were also probed.

Superintendencia de Competencia said in a statement that Caess
allegedly blocked the entry of distribution firm B&D, while
Delsur blocked that of Abruzzo.

According to Superintendencia de Competencia's statement, the
regulator's board council will review findings.  It will issue a
final resolution within three months.

Caess, AES-Clesa and Delsur allegedly prevented Edesal from
entering the Salvadorian market.  The companies could face
fines, BNamericas states.

                        About AES-Clesa

AES Clesa is an electricity distribution company based in Santa
Ana, El Salvador.  It serves approximately 257,000 customers in
the western region of El Salvador, including Santa Ana, the
country's second-largest city, as well as other surrounding
areas.  AES Clesa is 79.66% owned by AES El Salvador, an
indirect subsidiary of AES and Energia Global International.

                          About AES

AES Corp. -- http://www.aes.com/-- is a global power company.
The company operates in South America, Europe, Africa, Asia and
the Caribbean countries.  Specifically, it also has operations
in India.  Generating 44,000 megawatts of electricity through
124 power facilities, the company delivers electricity through
15 distribution companies.  The company's Latin America business
group is comprised of generation plants and electric utilities
in Argentina, Brazil, Chile, Colombia, Dominican Republic, El
Salvador, Panama and Venezuela.

                        *     *     *

On Oct. 20, 2006, Moody's Investors Service's downgraded its B1
Corporate Family Rating for AES Corporation in connection with
the implementation of its new Probability-of-Default and Loss-
given-default rating methodology.  Additionally, Moody's revised
its probability-of-default ratings and assigned loss-given-
default ratings on the company's loans and bond debt obligations
including the B1 rating on its senior unsecured notes 7.75% due
2014, which was also given an LGD4 loss-given default rating,
suggesting noteholders will experience a 55% loss in the event
of a default.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 23, 2007, Fitch affirmed AES Corporation's Issuer Default
Rating at 'B+', and assigned a short-term IDR of 'B'.

Fitch also made these rating actions:

* AES
  -- Senior unsecured to 'BB/RR1' from 'BB/RR2'

* AES Trust III
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

* AES Trust VII
  -- Trust preferred securities to 'B+/RR4' from 'B/RR5'.

In addition, Fitch affirms these ratings:

* AES
  -- Senior secured credit facility at 'BB+/RR1';
  -- Junior secured notes at 'BB+/RR1'.




=======
P E R U
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WORLDSPAN LP: Travelport Buy Cues S&P to Withdraw All Ratings
-------------------------------------------------------------
Standard & Poor's Ratings Services withdrew all ratings on
Worldspan L.P., including the 'B' corporate credit rating.  The
rating action follows the company's acquisition by Travelport
LLC (B/Stable/--) on Aug. 21, 2007.  Worldspan is the leading
processor of global distribution system (GDS) transactions for
on-line travel agencies.

"Ratings were withdrawn due to refinancing of Worldspan's
outstanding rated debt through a US$1 billion addition to
Travelport's credit facilities in May 2007," said Standard &
Poor's credit analyst Betsy Snyder.

Headquartered in Atlanta, Georgia, Worldspan, L.P. --
http://www.worldspan.com/-- is a leader in travel technology
services for travel suppliers, travel agencies, e-commerce sites
and corporations worldwide. Utilizing some of the fastest, most
flexible and efficient networks and computing technologies,
Worldspan provides comprehensive electronic data services
linking approximately 800 travel suppliers around the world to a
global customer base. Worldspan offers industry-leading Fares
and Pricing technology such as Worldspan e-Pricing(R), hosting
solutions, and customized travel products. Worldspan enables
travel suppliers, distributors and corporations to reduce costs
and increase productivity with technology like Worldspan Go!(R)
and Worldspan Trip Manager(R) XE.  The company's Latin American
operations are in Argentina, The Bahamas, Brazil, Jamaica,
Mexico, Peru, Puerto Rico, Uruguay and Venezuela.




=====================
P U E R T O   R I C O
=====================


COVENTRY HEALTH: Prices US$400-Million Senior Notes Offering
------------------------------------------------------------
Coventry Health Care Inc. has priced a US$400 million offering
of 6.30% coupon rate senior unsecured notes due 2014.  The notes
will rank equal in right of payment to all of Coventry's
existing and future senior debt, including its existing 5.875%
senior notes due 2012, 6.125% senior notes due 2015, 5.95%
senior notes due 2017, and existing credit facility.

Standard & Poor's Ratings Services assigned its "BBB" senior
unsecured debt rating, Fitch Ratings assigned its "BBB-" senior
unsecured debt rating, and Moody's Investors Service assigned
its "Ba1" senior unsecured debt rating to the notes.  Coventry
will use the net proceeds of the offering for general corporate
purposes, which may include retiring existing indebtedness,
acquisitions (including the planned acquisition of Florida
Health Plan Administrators, LLC, owner of Vista Healthplans),
repurchases of the Company's capital stock, additions to working
capital, and capital expenditures.  Goldman, Sachs & Co., Citi
Markets & Banking, and J.P. Morgan Securities Inc. acted as
Joint Bookrunners and RBS Greenwich Capital acted as Co-Manager.

A copy of the prospectus relating to this offering can be
obtained by calling Goldman, Sachs & Co. at 866-471-2526, Citi
Markets & Banking at 877-858-5407, or J.P. Morgan Securities
Inc. at 212-834-4533.

Headquartered in Bethesda, Maryland, Coventry Health Care, Inc.
(NYSE: CVH) -- http://www.cvty.com/-- is a national managed
health care company operating health plans, insurance companies,
network rental/managed care and workers' compensation services
companies.  Coventry provides a full range of risk and fee-based
managed care products and services, including HMO, PPO, POS,
Medicare Advantage, Medicare Prescription Drug Plans, Medicaid,
Workers' Compensation services and Network Rental to a broad
cross section of individuals, employer and government-funded
groups, government agencies, and other insurance carriers and
administrators in all 50 states as well as the District of
Columbia and Puerto Rico.


COVENTRY HEALTH: Moody's Puts Ba1 Rating on US$300-Mln Sr. Debt
---------------------------------------------------------------
Moody's Ratings-New York, August 22, 2007)

Moody's Investors Service has assigned a Ba1 senior unsecured
debt rating to Coventry Health Care, Inc.'s (NYSE: CVH) issuance
of US$300 million of new long term debt. Moody's also assigned a
provisional senior unsecured debt rating of Ba1 to Coventry's
shelf registration.

Coventry maintains its shelf for general corporate purposes,
including capital expenditures, acquisitions, and debt
refinancing.  The outlook on the ratings is stable.

About US$300 million of new debt securities were rated.

According to Moody's, Coventry plans to use the net proceeds
from the new issuance to partially fund its recently announced
acquisition of Vista Healthplans.  In connection with this
acquisition and the anticipated new debt, Moody's affirmed
Coventry's ratings and changed the outlook to stable from
positive on July 9, 2007.

Coventry Health Care, Inc. headquartered in Bethesda, Maryland
reported medical membership of 3.4 million and Part D Medicare
membership of approximately 700,000 as of June 30, 2007.  The
company reported net income of US$273 million on revenues of
approximately US$4.6 billion for the six months ending June 30,
2007.

Headquartered in Bethesda, Maryland, Coventry Health Care, Inc.
(NYSE: CVH) -- http://www.cvty.com/-- is a national managed
health care company operating health plans, insurance companies,
network rental/managed care and workers' compensation services
companies. Coventry provides a full range of risk and fee-based
managed care products and services, including HMO, PPO, POS,
Medicare Advantage, Medicare Prescription Drug Plans, Medicaid,
Workers' Compensation services and Network Rental to a broad
cross section of individuals, employer and government-funded
groups, government agencies, and other insurance carriers and
administrators in all 50 states as well as the District of
Columbia and Puerto Rico.


DORAL FINANCIAL: Soleil Reduces Rating on Firm's Shares to Sell
---------------------------------------------------------------
Equity research firm Soleil Securities said in a statement that
it has reduced its rating on Doral Financial's shares to sell
from hold.

According to Soleil Securities' statement, it is also decreasing
its earnings estimates for Doral Financial to US$3 per share.

The new earnings per share estimates were changed to indicate
Doral Financial's 1-for-20 reverse stock split that was
concluded on Aug. 17 and the issuance of 48.4 million shares
related to a recent private equity sale, Business News Americas
relates, citing Soleil Securities.

Soleil Securities analyst Anthony Polini told BNamericas, "We
believe the recent reverse stock split will escalate short-
selling activity and discourage speculative buying.
Additionally, our outlook for core revenue growth and credit
quality has worsened."

BNamericas notes that Bear Stearns' private equity unit
purchased a 90% stake in Doral Financial for US$610 million last
month.

Soleil Securities reduced its estimate for Doral Financial's
expected losses in this year to US$157 million from US$97.1
million.  It also decreased its estimate for 2008 to US$92.3
million from US$80.9 million, according to BNamericas.

Based in New York City, Doral Financial Corp. (NYSE: DRL) --
http://www.doralfinancial.com/-- is a diversified financial
services company engaged in mortgage banking, banking,
investment banking activities, institutional securities and
insurance agency operations.  Its activities are principally
conducted in Puerto Rico and in the New York City metropolitan
area.  Doral is the parent company of Doral Bank, a Puerto Rico
based commercial bank, Doral Securities, a Puerto Rico based
investment banking and institutional brokerage firm, Doral
Insurance Agency Inc. and Doral Bank FSB, a federal savings bank
based in New York City.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 2, 2007,
Fitch Ratings has placed Doral Financial Corporation's ratings
on Positive Outlook:

Doral Financial Corporation

  -- Long-term Issuer Default Rating 'CCC';
  -- Senior debt to 'CCC/RR4'';
  -- Preferred stock to 'C/RR6';
  -- Short-term Issuer Default Rating 'C';
  -- Support '5';
  -- Support Floor 'NF';
  -- Individual 'E'.

Doral Bank

  -- Long-term Issuer Default Rating 'B';
  -- Long-term deposits B+;
  -- Support '5';
  -- Support Floor 'NF';
  -- Individual 'D';
  -- Short-term Issuer 'B';
  -- Short-term deposit obligations 'B'.

As reported in the Troubled Company Reporter-Latin America on
July 23, 2007, Moody's Investors Service confirmed the B2 senior
debt rating of Doral Financial Corporation.  The rating had been
on review for possible downgrade since Jan. 5, 2007.  Following
the rating confirmation, the rating outlook was changed to
stable.


EDWIN MOLINA: Case Summary & 19 Largest Unsecured Creditors
-----------------------------------------------------------
Debtors: Edwin D. Torres Molina
         Ivonne R. Pinol Santana
         Calle Aldea, Suite 1412
         San Juan, PR 00907

Bankruptcy Case No.: 07-04684

Chapter 11 Petition Date: August 21, 2007

Court: District of Puerto Rico (Old San Juan)

Debtors' Counsel: Antonio Fiol Matta, Esq.
                  1561 Avenue Americo Miranda
                  URB Caparra Terrace
                  San Juan, PR 00921
                  Tel: (787) 792-4368
                  Fax: (787) 792-4763

Total Assets: US$1,824,125

Total Debts:  US$1,267,513

Debtors' List of its 19 Largest Unsecured Creditors:

   Entity                                 Claim Amount
   ------                                 ------------
Eurobank                                     US$25,000
P.O. Box 191009
San Juan, PR 00919-1009

Ivette Alamo Gomez                           US$16,000
p/c LCDO. Carlos J. Rivera Santiago
PMB #420
P.O. Box 4960
Caguas, PR 00726-4960

Internal Revenue Service                      US$9,168
Centralized Insolvency Operations
P.O. Box 21126
Philadelphia, PR 19114-0326

CRIM                                          US$8,411

Departamento De Hacienda                      US$6,807

LVNV Funding LLC                              US$4,988

Banco Popular de PR                           US$4,160

Autoridad de Energia Electrica                US$3,295

Banco Santander                               US$3,155

Coop. de Ahorro y Credito Zeno Gandia         US$2,919

Citibank USA NA                               US$2,264

Autoridad de Energia Electrica                US$1,540

Maria Cabrera Flores                          US$1,500

PEP Boys- Spanish/GEMB                          US$236

Credit Protection                               US$205

Popular Insurance                               US$141

American Express                                US$100

Gatsby                                           US$81

JC Penney                                        US$38


FOOT LOCKER: Incurs US$18 Million Net Loss in Qtr. Ended Aug. 4
---------------------------------------------------------------
Foot Locker Inc. posted a net loss of US$18 million for the
second quarter ended Aug. 4, 2007, compared to net income of
US$14 million, last year.  Second quarter sales decreased 1.5
percent, to US$1,283 million this year compared with sales of
US$1,303 million for the corresponding prior year period.
Second quarter comparable-store sales decreased 7.3 percent.

"Our second quarter results reflected lower than expected sales
and the impact of a strategic decision to significantly
accelerate the clearance of slow-selling merchandise inventory
in our U.S. stores," stated Matthew D. Serra, Foot Locker,
Inc.'s Chairman and Chief Executive Officer.  "This inventory
clearance strategy resulted in markdowns increasing in our U.S.
stores by US$50 million, at cost, or US$0.20 per share, versus
the second quarter of last year.  As a result, we are now better
positioned to offer more exciting and compelling products for
the fall season.  At the same time, the division profit of our
international stores increased approximately 20 percent from the
same period last year, (excluding the US$17 million pre-tax
charge recorded in 2006 to write down long-lived assets pursuant
to SFAS 144)."

                       Financial Position

At the end of the second quarter, the company's cash and short-
term investments totaled US$363 million.  The company's cash
position, net of debt, increased by US$86 million from the same
time last year.  During the second quarter, the company
repurchased 1.1 million shares of its common stock for US$24
million.  For the first six months of the year, the company
repurchased 2.3 million shares for US$50 million.

The company's merchandise inventory at the end of the second
quarter was 1.6 percent lower than at the end of the second
quarter last year.  Stated in constant currency dollars, the
company's merchandise inventory decreased 3.2 percent versus
last year.  Merchandise inventory in the company's U.S. stores
was approximately 4 percent lower than last year, with goods
older than 12 months reduced from last year by approximately 40
percent.  At the company's international stores, merchandise
inventory was essentially flat with last year.

                        Store Base Update

During the first six months of the year, the company opened 78
new stores, remodeled/relocated 129 stores and closed 115
stores.  At Aug. 4, 2007, the company operated 3,905 stores in
20 countries in North America, Europe and Australia.  In
addition, seven franchised stores were operating in the Middle
East.  During the first week of the third quarter, the company
converted its Footquarters stores to Foot Locker and Champs
Sports outlet stores.

During the next six months of 2007, the company currently
expects to open approximately 40 stores and, as previously
announced, close 135 to 150 unproductive stores.  Approximately
90 of the estimated store closings are expected to occur at or
near their normal lease expiration and have minimal or no
expense impact to the Company.  Depending on the outcome of
landlord negotiations, 50 to 60 of the stores are expected to
close prior to normal lease expiration.  The cash costs
associated with closing these 135 to 150 stores are expected to
be essentially offset by the cash benefits of the working
capital reduction.

Mr. Serra continued, "Given the uncertainty of several factors
that may affect our financial results, we are not providing a
financial forecast for the balance of the year at this time.
These uncertainties include the current challenging athletic
retail environment in the U.S. and incremental costs associated
with the closing of the additional stores.  In addition, we will
continue to assess the impact of the recent merchandise
initiatives on the financial results of our domestic businesses
during the fall 2007 season.  This assessment may include an
analysis of the recoverability of store long-lived assets
pursuant to SFAS 144 that may result in a non-cash impairment
charge."

                        About Foot Locker

Headquartered in New York City, Foot Locker, Inc. (NYSE: FL) --
http://www.footlocker-inc.com/-- retails athletic footwear and
apparel.  The company operates approximately 3,900 athletic
retail stores in 17 countries in North America, The Netherlands
and Australia under the brand names Foot Locker, Footaction,
Lady Foot Locker, Kids Foot Locker, and Champs Sports.  The
company also has about 350 Footaction stores in the US and
Puerto Rico, which sell footwear and apparel to young urbanites.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 21, 2007, Standard & Poor's Ratings Services said its
ratings, including the 'BB+' corporate credit rating, on New
York City-based specialty footwear retailer Foot Locker Inc.
remain on CreditWatch with negative implications.  This rating
action follows the announcement that Genesco (BB-/Watch
Developing/--) accepted an offer from The Finish Line Inc. for
USUS$1.53 billion (USUS$54.50 per share) on June 18, 2007.  Foot
Locker made two bids for Genesco earlier this year, but they
were subsequently rejected after Genesco's board concluded the
proposals were not in the best interest of its shareholders.


GLOBAL HOME: Committee Objects to Exclusivity Extension Plea
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Global Home
Products LLC and its debtor affiliates asks the U.S. Bankruptcy
Court for the District of Delaware to deny the Debtors' request
for extension of their exclusive periods.

The Committee discloses that in their request, the Debtors cited
nine factors typically considered by courts in determining
whether cause exists to extend the Exclusivity Periods.  The
Committee however believes that, on balance, these factors
weight strongly in favor of denial or conditioning of the
Debtors' request.

The Committee contends that although the Debtors' cases are
relatively large, they are not particularly complex.  All of the
Debtors' operating assets have been sold through court-approved
sales thus there is no more business for the Debtors to operate
and they are no longer generating revenues.

The Committee relates that there has been little tangible
progress toward reorganization.  Although the Debtors are
correct that certain progress has been made with respect to
their negotiations
with the Committee and other creditor constituencies concerning
a consensual plan for these chapter 11 cases, the Committee
submits that these negotiations would come to fruition more
quickly if the parties would enter into a term sheet for a plan
of reorganization if the Debtors were required to provide the
Committee with a draft plan of reorganization and disclosure
statement by Aug. 30, 2007.

The Committee argues that allowing the Debtors to maintain
exclusivity for another two months - 18 months in total - will
keep the playing filed tilted in their favor to the detriment of
the unsecured creditors who have not received any payment on
account of their claims for almost a year and a half.

Headquartered in Westerville, Ohio, Global Home Products, LLC
-- http://www.anchorhocking.com/and http://www.burnesgroup.com/
-- sells houseware and home products and manufactures high
quality glass products for consumers and the food services
industry.  The company also designs and markets photo frames,
photo albums and related home decor products.  The company and
16 of its affiliates, including Burnes Puerto Rico, Inc., and
Mirro Puerto Rico, Inc., filed for Chapter 11 protection on
April 10, 2006 (Bankr. D. Del. Case No. 06-10340).  Laura Davis
Jones, Esq., Bruce Grohsgal, Esq., James E. O'Neill, Esq., and
Sandra G.M. Selzer, Esq., at Pachulski, Stang, Ziehl, Young,
Jones & Weintraub LLP, represent the Debtors.

Kenneth A. Rosen, Esq., Sharon L. Levine, Esq., Bruce Buechler,
Esq., and Wojciech F. Jung, Esq., at Lowenstein Sandler, P.C.,
and David M. Fournier, Esq., and Evelyn L. Meltzer, Esq., at
Pepper Hamilton LLP represent the Official Committee of
Unsecured Creditors.  Huron Consulting Group LLC gives financial
advice to the Committee.  Schedules filed with the Court showed
the Debtors having total assets and debts of more than US$100
million.


HORIZON LINES: Acquires Calif-Based Aero Logistics
--------------------------------------------------
Horizon Lines Inc. has acquired Aero Logistics, a full service,
third party logistics provider (3PL) headquartered in South San
Francisco, CA.  The terms of the acquisition were not disclosed.

Aero Logistics designs and manages custom freight shipping and
special handling programs for customers in service-sensitive
industries including high-tech, healthcare, energy, mining,
retail and apparel.  Aero also operates a fleet of GPS-equipped
trailers under the direction of their Aero Transportation
division.

Horizon Lines announced last week the formation of Horizon
Logistics, established to manage the company's growing
integrated logistics services business.  Horizon Lines, LLC will
continue to operate the ocean container shipping services
between the U.S. and Alaska, Hawaii, Guam, Micronesia and Puerto
Rico.

"Aero creates innovative solutions for its customers and offers
a consistency of service that builds long lasting client
relationships," said Brian Taylor, Senior Vice President of
Sales and Marketing for Horizon Lines, LLC and recently named to
head Horizon Logistics as its President effective September 1st.
"Aero's solid reputation for integrity, innovation and the
highest levels of customer service make the company a great fit
for Horizon Logistics."

"We welcome the addition of the Aero Logistics team of
professionals and its proven capabilities in developing custom
logistics solutions for its clients.  We look forward to helping
Aero achieve even greater levels of success; creating value for
all our customers, employees and shareholders," said Chuck
Raymond, Horizon Lines' Chairman, President and Chief Executive
Officer.

"Horizon Lines, with its reputation for reliability, innovation
and exceptional customer service, is the perfect partner for
Aero Logistics," said John Fowler, CEO of Aero Logistics.  Josh
Greenberg, Aero's Chairman and President added that, "Aero's
service offering is an excellent fit with Horizon, and we look
forward to introducing our capabilities to a broader customer
base interested in comprehensive logistics and transportation
solutions."

                     About Horizon Lines

Headquartered in Charlotte, North Carolina, Horizon Lines Inc.
(NYSE: HRZ) -- http://www.horizonlines.com/-- is a Jones Act
container shipping and integrated logistics company and is the
parent company of Horizon Lines Holding Corp. and Horizon Lines
LLC.  The company accounts for approximately 37% of total U.S.
marine container shipments from the continental U.S. to the
three non-contiguous Jones Act markets -- Alaska, Hawaii, and
Puerto Rico, and Guam.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 31, 2007, Standard & Poor's Ratings Services assigned its
'B' rating to Horizon Lines Inc.'s (BB-/Stable--) proposed
US$300 million senior convertible notes offering due 2012.
Proceeds from the notes offering, combined with proceeds from a
planned new credit facility, will be used primarily to repay its
outstanding 9% senior notes due 2012 and its 11% senior discount
notes due 2013.  The company launched a tender offer for these
notes on July 17, 2007.  The tender offer expires on
July 30, 2007.  The Charlotte, North Carolina-based shipping
company currently has about US$800 million of lease-adjusted
debt.


INYX USA: Court Approves Klehr Harrison as Committee's Counsel
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Inyx USA, Ltd.
and Exaeris, Inc., obtained permission from the U.S. Bankruptcy
Court for the District of Delaware to retain Klehr, Harrison,
Harvey, Branzburg & Ellers LLP as its bankruptcy counsel.

The Committee, as appointed by the U.S. Trustee for Region 3, is
currently composed of Accentia Pharmaceuticals, Ventiv
Commercial Services, LLC, and International Union of United Auto
Workers.

Klehr Harrison, as the Committee's counsel, is expected to:

    a. assist, advise and represent the Committee in its
       consultation with the Debtors relative to the
       administration of the chapter 11 cases;

    b. assist, advise and represent the Committee in analyzing
       the Debtors' assets and liabilities, investigating the
       extent and validity of liens and participating in and
       reviewing any proposed asset sales or dispositions;

    c. attend meetings and negotiate with the representatives of
       the Debtors and secured creditors;

    d. assist and advise the Committee in its examination and
       analysis of the conduct of the Debtors' affairs;

    e. assist the Committee in the review, analysis and
       negotiation of any plan(s) of reorganization that may be
       filed and to assist the Committee in the review, analysis
       and negotiation of the disclosure statement accompanying
       any plan(s) of reorganization;

    f. assist the Committee in the review, analysis, and
       negotiation of any financing or funding agreements;

    g. take all necessary action to protect and preserve the
       interests of the Debtors' estates, including, without
       limitation, the prosecution, and defense, of action on
       their behalf, negotiations concerning all litigation in
       which the Debtors are involved, and review and analysis
       of all claims filed against the Debtors' estates;

    h. generally prepare and file on behalf of the Committee all
       necessary motions, applications, answers, orders, reports
       and papers in support of positions taken by the
       Committee;

    i. appear, as appropriate, before the Bankruptcy Court, the
       Appellate Courts, and other Court in which matters may be
       heard and to protect the interests of the Committee
       before these Court ad the U.S. Trustee; and

    j. perform all other necessary legal services in relation to
       the Debtors' chapter 11 cases.

The Committee discloses that professionals of the firm bill:

                  Hourly Rate
                  -----------
  Partners      US$325 - US$600
  Associates    US$205 - US$325
  Paralegals    US$120 - US$190

The Committee further discloses that the principal attorneys and
paralegal at Klehr Harrison designated to represent the
Committee and their current hourly rates are:

   Individual                 Designation      Hourly Rate
   ----------                 -----------      -----------
   Joane B. Wills, Esq.       Partner            US$525
   Richard M. Beck, Esq.      Partner            US$450
   Christopher A. Ward, Esq.  Associate          US$300
   Melissa Hughes             Paralegal          US$150

The Committee informs the Court that Klehr Harrison has agreed
to a 10% discount on its hourly rates.

To the best of the Committee's knowledge, Klehr Harrison does
not represent any interest adverse to the Debtors or their
estates.

                     About Inyx USA and Exaeris

Based in Manati, Puerto Rico, Inyx USA Ltd. operates a
pharmaceuticals production center that encompasses five
buildings totaling 140,000 square feet and extending over 9.5
acres.  Exaeris, Inc., locate din Exton, Pennsylvania, focuses
on the strategic commercialization of niche or enhanced
pharmaceutical products, marketing and promotion activities.
Inyx USA and Exaeris are wholly-owned subsidiaries of Inyx, Inc.
(OTC:IYXI) --  http://www.inyxinc.com/-- a specialty
pharmaceutical company.

Inyx USA and Exaeris filed for chapter 11 protection on July 2,
2007 (Bankr. D. Del. Case Nos. 07-10887 and 07-10888).  Anthony
M. Saccullo, Esq., at Fox Rothschild, L.L.P., represents the
Debtors.  When Inyx USA filed for protection from its creditors,
it listed estimated assets and debts between US$1 million and
US$100 million.  Exaeris estimated its assets were less than
US$10,000 but debts were between US$1 million and US$100
million.

Stephen S. Gray was appointed as the Chapter 11 Trustee in Inyx
USA Ltd.'s bankruptcy proceedings.

In Court documents filed by Jack Kachkar, CEO of Inyx, Inc.,
Inyx USA is indebted to Westernbank Puerto Rico in the
approximate amount of US$35 million and secured by a first-
priority lien in substantially all of Inyx USA's assets.
Exaeris has in excess of US$5 million in prepetition unsecured
obligations outstanding to various creditors.

Ashton Pharmaceuticals and Inyx Pharma, the Debtors' UK
affiliates, were placed into an involuntary administration on
June 29, 2007.  Ernst & Young was appointed by the UK court as
administrators.


MUSICLAND HOLDING: Bank Wants Vendors Rule 2019 Statement Filed
---------------------------------------------------------------
Wachovia Bank, National Association, asks the U.S. Bankruptcy
Court for the Southern District of New York to compel the
Informal Committee of Secured Trade Vendors of Musicland Holding
Corp. and its debtor-affiliates' to file a verified statement
pursuant to Rule 2019 of the Federal Rules of Bankruptcy
Procedures.

Wachovia complains that the Informal Committee has never fully
complied with the Rule 2019 disclosure requirements even if its
multiple counsel has filed separate Rule 2019 statements.

Wachovia explains that the Informal Committee's composition has
changed significantly.  The Committee admittedly represents the
collective interests of a changing group currently comprising at
least seven different creditors and has held itself out as a
"committee" throughout the bankruptcy proceedings, Wachovia
relates.  The Committee, therefore, must comply with the clear
and unambiguous requirements of Rule 2019(a), Wachovia asserts.

Wachovia further reminds the Court that Rule 2019(a) requires "a
committee representing more than one creditor" to file a
verified statement setting forth the name and address of each
creditor; the nature and amount of the claim or interest; the
time when each creditor acquired the interest; the amount paid
by each creditor for that interest; and any sale or other
disposition of the interest.  Rule 2019(a) also requires the
disclosure of any instrument empowering a committee to act on
behalf of its members and the prompt filing of a supplemental
statement reporting "any material changes in the facts"
underlying a filed statement.

Wachovia also notes that the Bankruptcy Court for the Southern
District of New York has required an ad hoc committee of equity
security holders in In re Northwest Airlines Corp., 363 B.R. 701
(Bankr. S.D.N.Y. 2007).

Wachovia tells Judge Bernstein that the Informal Committee was
originally composed of a group of trade vendors who supplied
audio and video related products to the Debtors under a security
agreement.  In late June 2006, certain trade members apparently
sold their interests to various funds that have never disclosed
the amount each Fund paid for its interest.  The Informal
Committee has continued to appear in the Debtors' cases,
replaced Morgan Lewis & Bockius LLP as the panel's counsel, and
retained Paul Weiss Rifkind Wharton & Garrison as its new
counsel.

Wachovia, together with Harris N.A., is the target of a lawsuit
commenced by the Informal Committee in January 2007 for breach
of contract, tortious interference with contractual relations,
conversion, and unjust enrichment, based on a $25,000,000 term
loan Harris made to Musicland in the fall of 2005, which was
paid in full in December 2005.  The lawsuit was initially filed
before the U.S. District Court for the Southern District of New
York, and was later dismissed and re-filed in the Bankruptcy
Court.

According to papers filed in Bankruptcy Court, the plaintiffs in
the Complaint are Buena Vista Home Entertainment, Inc., Cargill
Financial Services International, Inc., Hain Capital Group, LLC,
Paramount Pictures Corporation, Twentieth Century Fox Home
Entertainment LLC, UBS Willow Fund, LLC, and Varde Investment
Partners, L.P.


The Hon. Stuart Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York adjourns the hearing to consider
confirmation of Musicland Holding Corp. and its debtor-
affiliates' Second Amended Joint Plan of Liquidation to
Sept. 27, 2007, Andrea L. Johnson, Esq., at Kirkland & Ellis
LLP, in New York, notifies all interested parties.

                         About Musicland

Headquartered in New York, New York, Musicland Holding Corp., is
a specialty retailer of music, movies and entertainment-related
products  in the United States, Puerto Rico and the Virgin
Islands.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064).  James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  At March 31, 2007, the
Debtors disclosed US$20,121,000 in total assets and
US$321,546,000 in total liabilities.

On May 12, 2006, the Debtors filed their Joint Plan of
Liquidation with the Court.  On Sept. 14, 2006, they filed an
amended Plan and a Second Amended Plan on Oct. 13, 2006.  The
Court approved the adequacy of the Amended Disclosure Statement
on Oct. 13, 2006.  (Musicland Bankruptcy News, Issue No. 36;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


MUSICLAND HOLDING: LSTA & SIFMA Denounce Wachovia's 2019 Motion
---------------------------------------------------------------
The Loan Syndications and Trading Association and the Securities
Industry and Financial Markets Association ask the U.S.
Bankruptcy Court for the Southern District of New York for
leave, as amici curiae, to file an opposition to Wachovia Bank's
request to compel the Informal Committee of Secured Trade
Vendors of Musicland Holding Corp. and its debtor-affiliates' to
file a Rule 2019 Verified Statement disclosing the nature and
the amount of the Informal Committee members' claims.

Andrew N. Goldman, Esq., at Wilmer Cutler Pickering Hale and
Dorr LLP in New York, asserts that the 2019 Motion will have
detrimental impacts on the liquidity of the active and vibrant
trading markets as well as the willingness and ability of many
stakeholders to participate in future chapter 11 cases.

Wachovia's 2019 Motion goes beyond the practical and seeks
public disclosure of a market participant's most confidential
and proprietary information like the price at which the
institution purchased or sold its claims.

The LSTA and SIFMA intend to file an Amicus Brief and make oral
argument with respect to Section 1109(b) of the Bankruptcy Code.
Alternatively, the LSTA and SIFMA ask for leave to file the
Amicus Brief and make oral arguments pursuant to Bankruptcy Rule
2018, which provides that "after hearing on such notice as the
court directs and for cause shown, the court may permit any
interested entity to intervene . . . with respect to any
specified matter," and the Court's broad equitable powers under
Section 105 of the Bankruptcy Code.

In their Amicus Brief, the LSTA and SIFMA assert that requiring
members of Informal Committee to make Rule 2019 disclosures will
reveal not only their holdings but the prices at which these
entities purchased their securities.  This will compromise the
Debtors' negotiating process vital to the restructuring.

The LSTA and SIFMA also point out that Rule 2019 does not apply
to informal groups like the Informal Committee because they do
not act as fiduciaries.

Mr. Goldman argues that Wachovia's point lack merit.  No
legitimate purpose is served by requiring the Informal Committee
to tell the world the dates and prices at which each member
acquired its position.

                           About LSTA

The Loan Syndications and Trading Association is the trade
association for all segments of the floating rate corporate loan
market.  With more than 220 members, including broker-dealers,
commercial banks, investment banks, mutual funds, merchant
banks, and other major financial organizations worldwide, the
LSTA seeks to foster the development of policies and market
practices designed to promote just and equitable marketplace
principles and to encourage cooperation and coordination with
firms facilitating transactions in loans and related claims.

                           About SIFMA

The Securities Industry and Financial Markets Association is the
organization formed from the 2006 merger of the Bond Market
Association and the Securities Industry Association.  SIFMA
brings together the shared interests of more than 650 securities
firms, banks, and asset managers active in U.S. and foreign
markets.  The SIFMA's mission is to promote policies and
practices that work to expand and perfect markets, foster the
development of new products and services, and create
efficiencies for member firms, while preserving and enhancing
the public's trust and confidence in the markets and the
industry.

                         About Musicland

Headquartered in New York, New York, Musicland Holding Corp., is
a specialty retailer of music, movies and entertainment-related
products  in the United States, Puerto Rico and the Virgin
Islands.  The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064).  James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts.   Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors.  At March 31, 2007, the
Debtors disclosed US$20,121,000 in total assets and
US$321,546,000 in total liabilities.

On May 12, 2006, the Debtors filed their Joint Plan of
Liquidation with the Court.  On Sept. 14, 2006, they filed an
amended Plan and a Second Amended Plan on Oct. 13, 2006.  The
Court approved the adequacy of the Amended Disclosure Statement
on Oct. 13, 2006.  (Musicland Bankruptcy News, Issue No. 36;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


PEP BOYS: Earns US$4.2 Million in Second Quarter Ended Aug. 4
-------------------------------------------------------------
The Pep Boys - Manny, Moe & Jack reported Net Earnings from
Continuing Operations before Cumulative Effect of Change in
Accounting Principle increased from US$1,470,000 to US$4,196,000
for the second quarter ended August 4, 2007.

Sales for the thirteen weeks ended August 4, 2007 were
US$558,889,000 as compared to the US$578,565,000 for the
thirteen weeks ended July 29, 2006.  Comparable Sales decreased
3.6%, including a 5.1% comparable merchandise sales decrease and
a 3.8% comparable service revenue increase.  In accordance with
GAAP, merchandise sales includes merchandise sold through both
our retail and service center lines of business and service
revenue is limited to labor sales.  Recategorizing Sales into
the respective lines of business from which they are generated,
comparable Retail Sales (DIY and Commercial) decreased 9.0% and
comparable Service Center Revenue (labor plus installed
merchandise and tires) increased 4.9%.

                           Commentary

President & CEO Jeffrey Rachor said, "Since I joined Pep Boys,
we have accelerated the Company's execution of previously
initiated programs to improve its operational efficiency and
move towards monetizing certain real estate assets.  In
addition, we are already seeing early traction in our service
renewal program as Service Operations gained momentum in
comparable sales, despite a difficult economic environment."

"Our efforts to expand margins and manage down our cost
structure have yielded improved operating performance in the
first half of the year.  Both Retail and Service Center
Operations improved gross margin rates.  Cost reduction efforts
continued to make significant progress again this quarter,
showing a year over year reduction of almost 5% in total SG&A
expenses."

"While we have continued to focus on improving our merchandise
margin mix, which contributed to material improvements in
profitability in the second quarter, we recognize the importance
of permanently reversing retail sales trends with a sustainable
core merchandising program.  Our merchandising, category
management and marketing strategy are being addressed as a top
priority in the Strategic Planning Process.  As previously
communicated, we expect to discuss this plan in November after
my second full quarter as CEO."

"In support of our asset monetization, a recently completed
independent portfolio valuation indicates that our owned real
estate portfolio has appreciated in value.  In March 2005, we
ascribed a value of between US$850 and US$950 million to our
owned stores and distribution centers based upon the results of
a market value appraisal.  Based upon additional analysis, we
now believe that these properties have a market value of
approximately US$1.0 billion and, based upon fair market rents,
could generate sale/leaseback proceeds of approximately US$1.3
billion.  We plan to begin to monetize a portion of these assets
during the second half of the year through sale/leaseback
transactions, with the initial use of proceeds being the
repayment of debt."

CFO Harry Yanowitz commented, "Q2 Operating Profit improved by
US$5.3 million from US$12.0 million in 2006 to US$17.3 million
in 2007. Operating Profit included (i) in Q2 2006, a US$6.4
million Net Gain from Dispositions of Assets, a US$2.1 million
settlement from a credit card issuer class action suit and
US$2.5 million in charges associated with our strategic review
process and executive severance and (ii) in Q2 2007, US$0.8
million in outsourcing-related severance charges."

"Our trailing four quarter Operating (Loss) Profit has improved
from a loss of US$5.0 million to a profit of US$50.1 million
while our trailing four quarter EBITDA, a non-GAAP indicator of
levels of our financial performance that includes the gains and
charges noted above, increased from US$81.3 million to US$144.4
million."

"As we previously announced, at the end of Q4 2006, we ceased
commercial sales in certain of our stores, which while reducing
our Q2 comparable sales (2007 vs. 2006) by approximately 1%, is
consistent with our prioritization of profits over sales."

"Our income tax expense in Q2 2007 was 37.5%, close to our
planning rate of 39.0%, but incorporated entries from a
favorable resolution of an IRS audit and additional tax expense
due to surrender of certain company-owned life insurance assets.
We sold these life insurance assets, non-core assets of the
company, as part of funding the US$58.2 million share repurchase
program completed in Q1."

                        About Pep Boys

The Pep Boys - Manny, Moe & Jack (NYSE: PBY) --
http://pepboys.com/-- has 593 stores and more than 6,000
service bays in 36 states and Puerto Rico.  Along with its
vehicle repair and maintenance capabilities, the Company also
serves the commercial auto parts delivery market and is one of
the leading sellers of replacement tires in the United States.

                        *     *     *

As reported in the Troubled Company Reporter on Sept. 22, 2006,
Standard & Poor's Ratings Services affirmed its 'B+' rating on
Pep Boys-Manny, Moe & Jack's term loan after the company
announced plans to increase the size of the facility by US$120
million to US$320 million.  Proceeds from the additional US$120
million term loan will be used to refinance its convertible
notes which mature in June 2007.  At the same time, the rating
on the US$357.5 million asset-based revolver was raised to 'B+'
from 'B' to properly realign its ratings with the term loan and
to reflect Standard & Poor's increased comfort with the
collateral and terms securing this facility.  The 'B-' corporate
credit and other ratings were affirmed; the outlook is negative.


POPULAR INC: Paying US$0.16/Share Dividend on October 1
-------------------------------------------------------
The board of directors of Popular Inc. declared on Aug. 15,
2007, a cash dividend of US$0.16 per common share.  The dividend
is payable on Oct. 1, 2007, to the stockholders of record as of
Sept. 14, 2007.

Headquartered in Puerto Rico, Popular Inc. (Nasdaq: BPOP) is a
full service financial institution with operations in Puerto
Rico, the United States, the Caribbean and Latin America.  With
over 300 branches and offices, the company offers retail and
commercial banking services through its franchise, Banco Popular
de Puerto Rico, well as auto and equipment leasing and
financing, mortgage loans, consumer lending, investment banking,
broker/dealer and insurance services through specialized
subsidiaries.  In the United States, the company has established
a community banking franchise providing a broad range of
financial services and products to the communities it serves.

                        *     *     *

AS reported in the Troubled Company Reporter on May 9, 2007,
Fitch Ratings has downgraded Individual rating of Popular Inc.
to 'B/C' from 'B'.


STANDARD MOTOR: Okays US$3.3-Mln Stock Repurchase Program Add On
----------------------------------------------------------------
Standard Motor Products Inc.'s board of directors has authorized
a US$3.3 million increase in the company's stock repurchase
program.

The program is in addition to the company's existing stock
repurchase program, under which the company repurchased
approximately US$1.7 million of stock.

Any repurchased shares will be held as treasury stock and will
be available for general corporate purposes, including funding
existing stock plans.  The amount and timing of the repurchases
will depend upon market conditions.

"At current market levels, we believe our stock represents an
attractive investment opportunity, and our repurchase program
reflects our ongoing commitment to enhance shareholder value."
Lawrence I. Sills, Standard Motor Products' chairman and chief
executive officer, stated.

In addition, the company has appointed Pamela Forbes Lieberman
as an independent director to the company's board of directors,
effective Aug. 15, 2007.  Ms. Lieberman will serve on each of
the committees of the board of directors.  Ms. Lieberman, 53,
served as the president and chief executive officer of True
Value Corporation and is a Certified Public Accountant.

"We are very pleased to welcome Pamela to our board," Mr. Sills
stated.  "We believe that based on her business background and
leadership skills, she will be a valuable asset to our
organization, and we look forward to her contributions to our
company."

                      About Standard Motor

Headquartered in Long Island City, New York, Standard Motor
Products Inc. (NYSE: SMP) -- http://smpcorp.com/-- manufactures
and distributes replacement parts for motor vehicles in the
automotive aftermarket industry.  The company supplies Engine
Management and Temperature Control parts for motor vehicles -
domestic and imported, new as well as older vehicles.  Parts are
sold throughout the U.S., Canada, Central and South America,
Europe and Asia, by traditional warehouse distributors and auto
parts stores, as well as major retail stores.  Standard Motor
Products Inc has more than 20 factories and distribution centers
throughout the U.S., Puerto Rico, Canada, Europe and the Far
East.

                         *     *     *

As reported in the Troubled Company Reporter on July 26, 2007,
Standard & Poor's Ratings Services revised its outlook on
Standard Motor Products Inc. to positive from negative.  The
ratings including the 'B-' corporate credit rating, were
affirmed.




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


INVACARE CORP: Declares Dividend on Common Shares Due Oct. 12
-------------------------------------------------------------
Invacare Corporation's Board of Directors has declared a cash
dividend of US$0.0125 per share on its common shares and
US$0.011364 per share on its Class B common shares payable
Oct. 12, 2007 to shareholders of record on October 2, 2007.

Headquartered in Elyria, Ohio, Invacare Corporation (NYSE: IVC)
-- http://www.invacare.com/-- manufactures and distributes
innovative home and long-term care medical products.  The
company has 5,700 associates and markets its products in 80
countries around the world.  In the Caribbean, Invacare products
are distributed in Barbados, the Dominican Republic, and
Trinidad and Tobago.

                          *     *     *

Moody's Investor Services rated Invacare Corporation's long-term
corporate family at B1, its probability of default at B1.  The
outlook is stable.  Standard & Poor's assigned B rating on its
long-term foreign and local issuer credit.




=================
V E N E Z U E L A
=================


PETROLEOS DE VENEZUELA: Will Drill New Well Offshore
----------------------------------------------------
Venezuelan state-owned oil company Petroleos de Venezuela SA
will drill a well offshore in Venezuela along the Delta Amacuro
coast in the Caribbean Sea within the year, the press says,
citing the nation's President Hugo Chavez.

Energy Current relates that President Chavez said on the weekly
television show Alo, Presidente, "Because of the ignorance of
the sea, PDVSA [Petroleos de Venezuela] never made offshore
incursions.  This is the first [offshore] oil well in 100 years
of oil exploration [in Venezuela]."

Venezuela's resources in the sea were "infinite," Energy Current
says, citing President Chavez.

SCAN Geophysical completed one seismic survey in the Caribbean
Sea offshore Venezuela this year.  It will conduct another one
this year, Energy Current states.

Petroleos de Venezuela SA -- http://www.pdv.com/-- is
Venezuela's state oil company in charge of the development of
the petroleum, petrochemical and coal industry, as well as
planning, coordinating, supervising and controlling the
operational activities of its divisions, both in Venezuela and
abroad.  The company has a commercial office in China.

As reported on March 28, 2007, Standard & Poor's Ratings
Services assigned its 'BB-' senior unsecured long-term credit
rating to Petroleos de Venezuela S.A.'s US$2 billion notes due
2017, US$2 billion notes due 2027, and US$1 billion notes due
2037.


                            ***********


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., Frederick,
Maryland USA.  Marjorie C. Sabijon, Sheryl Joy P. Olano, Rizande
de los Santos, Christian Toledo and Pamella Ritah K. Jala,
Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
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Information contained herein is obtained from sources believed
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