TCRLA_Public/071204.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

          Tuesday, December 4, 2007, Vol. 8, Issue 240

                          Headlines

A R G E N T I N A

ALITALIA SPA: Bidders Have Until Dec. 6 to Submit Offers
BANCO DE LA PROVINCIA: Moody's Withdraws Assigned Ratings
CIRCULO 9: Seeks for Reorganization Okay from Buenos Aires Court
DANA CORP: Creditors Committee Backs Appaloosa Settlement Pact
DANA CORP: Indiana & Pine Tree Object to Plan Confirmation

DANA CORP: Noteholders Balk at Appaloosa Settlement Agreement
ESHRIKE SRL: Proofs of Claim Verification Is Until March 3, 2008
MAR DEL PLATA: Files for Reorganization Petition in Buenos Aires
MAYA-QUINTANA SA: Trustee Verifies Claims Until March 28, 2008
NIPPON SHEET: To Sell 50% Stake in NH Techno Glass, Nikkei Says

POLI REC: Proofs of Claim Verification Deadline Is Feb. 15, 2008
PURA SA: Proofs of Claim Verification Ends on Dec. 27
QUEBECOR MEDIA: Issues Statement Regarding Spectrum Auction
SEROGEN SRL: Proofs of Claim Verification Deadline Is March 7


B A R B A D O S

DIGICEL GROUP: Phone Card Promotion Angers Subscribers


B E R M U D A

MEDAMERICA INT'L: Proofs of Claim Filing Deadline Is Dec. 21
MEDAMERICA INT'L: Sets Final Shareholders Meeting for Dec. 24
OVERSEAS PARTNERS: Sets Final Shareholders Meeting for Dec. 28
SAMARITAN HEALTH: Proofs of Claim Filing Ends on Dec. 21
SAMARITAN HEALTH: Will Hold Last Shareholders Meeting on Dec. 24

SEA CONTAINERS: Marathon Discloses 10.7% Equity Stake
SEA CONTAINERS: SCSL Panel Has Attride-Stirling as Counsel
UNITED CARE: Proofs of Claim Filing Is Until Dec. 21
UNITED CARE: Sets Final Shareholders Meeting for Dec. 24


B R A Z I L

AMR CORP: Low Stock Price Cues FL Group to Cut Stake by 8%
BRASKEM SA: Inks Pact with Petrobras, Petroquisa & Odebrecht
COMPANHIA ENERGETICA: Gets Outperform Rating from Credit Suisse
DELPHI CORP: Delays Hearing on Chapter 11 Disclosure Statement
DELPHI CORP: Reserves US$120MM at 3Q07 for Probe & Cleanup

DRESSER-RAND: Employees Back to Work at Painted Post Facility
GENERAL MOTORS: Still Open to Future Tie-Up with Proton Holdings
MYERS INDUSTRIES: Quells Market Rumor on GS Capital Backing Out
SANYO ELECTRIC: Fitch Holds BB+ Ratings on Negative Watch
SANYO ELECTRIC: Ties Up with Aeon to Develop Home Electronics

SANYO ELECTRIC: To Make New Fuel Cell Company with Nippon Oil
SANYO ELECTRIC: Unveils 2008-2010 Midterm Business Plan


C A Y M A N   I S L A N D S

BAMBOO SHIPHOLDING: Proofs of Claim Filing Ends on Dec. 14
BERNARD NATIONAL: Proofs of Claim Filing Is Until Dec. 14
BLUE AND RED: Proofs of Claim Filing Deadline Is Dec. 14
BRAZIL REPACKAGED: Proofs of Claim Filing Ends on Dec. 14
CSFUND-THREE HOLDINGS: Proofs of Claim Filing Is Until Dec. 14

DUKE FUNDING: Proofs of Claim Filing Deadline Is Dec. 14
FLAGSHIP CLO: Proofs of Claim Filing Is Until Dec. 14
FORTIS HEDGE: Proofs of Claim Filing Deadline Is Dec. 14
GEMINI SHIPFINANCE: Proofs of Claim Filing Is Until Dec. 14
GEMINI SHIPHOLDING: Proofs of Claim Filing Deadline is Dec. 14

PARMALAT SPA: NY Court Gives No Decision on Class Action Appeal


C H I L E

FRESH DEL MONTE: Names Elias Hebeka as Director on Board
INGRAM MICRO: Reaffirms Guidance in Fourth Qtr. Ending Dec. 29
TECH DATA: Moody's Affirms Ratings, Shifts Outlook to Stable


C O L O M B I A

BRIGHTPOINT INC: Appoints Three Executive Officers
ECOPETROL: Eyes 3% Production Increase by 2011
ECOPETROL: Claims New Bogota Stock Exchange Listing Impressive
SOLUTIA INC: Court Confirms Consensual Reorganization Plan


D O M I N I C A N   R E P U B L I C

BANCO INTERCONTINENTAL: Defense Appealing Marcos Cocco's Case


E L   S A L V A D O R

DIGICEL GROUP: Inks Prepaid Phone Recharging Agreement with HSBC


M E X I C O

BELL MICROPRODUCTS: Taps P. Cook as UK Commercial Sales Director
ENTRAVISION COMMS: Inks US$24-Million Purchase Deal for WNUE-FM
KEY ENERGY: Closes US$400 Mil. Senior Credit Facility on Nov. 29
NUANCE COMMUNICATIONS: Completes Viecore Acquisition
RADIOSHACK CORP: Names P. Whitsett EVP, Gen. Merchandise Manager

RYERSON INC: Plans to Restructure Chicago Business by Late 2008
RYERSON INC: To Gradually Restructure Chicago Operations by 2008
WARNER MUSIC: Sept. 30 Balance Sheet Upside-Down by US$36 Mil.


P A N A M A

* PANAMA: World Bank Board Grants US$75 Million Financing


P U E R T O   R I C O

BURGER KING: Board Declares US$0.0625 Per Share Common Stock
SEARS HOLDINGS: Net Income Drops to US$2MM in Third Quarter 2007
WESCO INT'L: Moody's Affirms Corporate Family Rating at Ba3


S U R I N A M E

DIGICEL LTD: Opens New Facility in Suriname


V E N E Z U E L A

CHRYSLER LLC: Likely to Lose US$1 Bil. in 2007, Sales Exec. Says
PEABODY ENERGY: Names Director of International Gov't Relations
PETROLEOS DE VENEZUELA: Commences Tender Offer for Cerro Bonds

* VENEZUELA: Constitutional Reforms Won't Affect Debt Payment
* Large Companies with Insolvent Balance Sheets


                         - - - - -


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


ALITALIA SPA: Bidders Have Until Dec. 6 to Submit Offers
--------------------------------------------------------
The Board of Directors of Alitalia S.p.A. informed that during a
meeting on Nov. 28, 2007, based on information provided by
advisor Citi, the Board took note of the outcome of interviews
and contacts with those taking part in the Company's project to
rapidly select industrial and financial subjects committed to
restructuring, developing and re-launching Alitalia and,
accordingly, to acquire a majority shareholding in the Company.

In particular, advisor Citi stated that contacts and discussions
with the subjects involved are still being pursued; consequently
it is foreseen that any possible proposals should be made by
Dec. 6, 2007.

The Company will immediately announce the number of proposals
received and the names of the subjects who have made them.

As reported in the TCR-Europe on Nov. 29, 2007, Italian Prime
Minister Romano Prodi believes a buyer will be chosen for the
government's 49.9% stake in Alitalia by Dec. 25, 2007.

Transport Minister Alessandro Bianchi said on Nov. 26, 2007,
that Italy has no plans to postpone the stake sale to 2008.

Three parties remain in contention for Italy's controlling stake
in Alitalia:

   -- Air France-KLM,
   -- Deutsche Lufthansa AG, and
   -- AP Holding S.p.A.

OAO Aeroflot will not participate in the process while Cordata
Baldassarre's bid was deemed "no longer compatible" to the sale.
TPG Capital, meanwhile, was unable to finalize an Italian-led
consortium, but will continue to follow the developments of the
sale.

Alitalia has extended to Dec. 5, 2007, the deadline for
submission of non-binding offers and may commence exclusive
negotiations with the chosen bidder within the first half of
December 2007.

                        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 Italian government owns 49.9%
of Alitalia.  The company has operations in Argentina.

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, EUR168 million in 2005, and
EUR625.6 million in 2006.

Italian Transport Minister Alessandro Bianchi has warned that
Alitalia may file for bankruptcy if the current attempt to sell
the government's 49.9% stake fails.


BANCO DE LA PROVINCIA: Moody's Withdraws Assigned Ratings
---------------------------------------------------------
Moody's Investors Service has withdrawn all of its ratings for
Banco de la Provincia de Buenos Aires for business reasons.

Banco de la Provincia de Buenos Aires is a universal bank, and
it held ARS25.7 billion in assets and ARS19.6 billion in
deposits as of September 2007.

These ratings were withdrawn:

  -- Bank financial strength rating: E+ , Stable Outlook

  -- Long term local currency deposit rating: Ba2, Stable
     Outlook

  -- Short term local currency deposit rating: Not Prime

  -- National Scale Rating for local currency deposits: Aa2.ar

  -- Long term foreign currency deposit rating: Caa1, Positive
     Outlook

  -- Short term foreign currency deposit rating: Not Prime

  -- National Scale Rating for foreign currency deposits: Ba1.ar

Banco de la Provincia de Buenos Aires is Argentina's oldest
bank.  It is the fifth largest in terms of assets and third in
terms of deposits; by 2002 they were valued at US$3.51 billion
and US$1.57 billion, respectively.  That same year loans were
US$1.79 billion and equity US$311 million.  Banco de la
Provincia's focus is mainly on the province's small- and mid-
sized enterprises and the retail segment.  The bank has some 350
branches throughout Buenos Aires, which represents approximately
40% of Argentina's gross domestic product.


CIRCULO 9: Seeks for Reorganization Okay from Buenos Aires Court
----------------------------------------------------------------
Circulo 9 de Julio Social y Deportivo Asociacion Civil has
requested for reorganization approval after failing to pay its
liabilities since Aug. 1, 2007.

The reorganization petition, once approved by the court, will
allow Circulo 9 de Julio to negotiate a settlement with its
creditors in order to avoid a straight liquidation.

The case is pending in the National Commercial Court of First
Instance No. 6 in Buenos Aires.  Clerk No. 11 assists the court
in this case.

The debtor can be reached at:

          Circulo 9 de Julio Social y Deportivo Asociacion Civil
          Avenida Juan Bautista Alberdi 568
          Buenos Aires, Argentina


DANA CORP: Creditors Committee Backs Appaloosa Settlement Pact
--------------------------------------------------------------
The Official Committee of Unsecured Creditors supports Dana
Corp. and its debtor-affiliates' settlement with Appaloosa
Management, L.P.

As reported in the Troubled Company Reporter on Nov. 28, 2007,
the Debtors asked the Court to approve a settlement that
resolves their disputes with Appaloosa, which had lost a bid to
provide equity exit financing to the company.  Under the
settlement, Dana agreed to reimburse up to US$2,000,000 for out-
of-pocket expenses Appaloosa Management incurred in the Chapter
11 cases, in exchange for its support to Dana's Joint Plan of
Reorganization.

The Creditors Committee was party to the Settlement and was
involved in the negotiation of its terms.  It believes that the
provisions of the Settlement are fair, reasonable, and
appropriate under the circumstances.

Among other things, the Settlement will resolve potential
obstacles to confirmation of the Debtors' plan of reorganization
and permit Appaloosa to acquire unsecured claims prior to the
Trade Claims Record Date, the Creditors Committee says.

Moreover, while the Creditors Committee has agreed to support
US$2,000,000 in reasonable fees and expenses incurred by
Appaloosa in the Debtors' bankruptcy cases, the panel says
Appaloosa must still file an application that will be subject to
Court review and approval pursuant to Section 503(b) of the
Bankruptcy Code.

                           About Dana

Headquartered in Toledo, Ohio, Dana Corporation --
http://www.dana.com/-- designs and manufactures products
for every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Aug. 31, 2007, the Debtors listed US$6,878,000,000 in total
assets and US$7,551,000,000 in total debts resulting in a total
shareholders' deficit of US$673,000,000.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007.  On Oct. 23, 2007, the Court approved the
adequacy of the Disclosure Statement explaining their Plan.  The
Court has set Dec. 10, 2007, to consider confirmation of the
Plan.  (Dana Corporation Bankruptcy News, Issue No. 62;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORP: Indiana & Pine Tree Object to Plan Confirmation
----------------------------------------------------------
As of Nov. 27, 2007, two parties have filed objections to
confirmation of Dana Corp. and its debtor-affiliates' Third
Amended Joint Plan of Reorganization.  Objections are due
Nov. 28.  The Debtors will submit the Plan for confirmation on
Dec. 10, 2007.

(a) Indiana Environment Department

The Indiana Department of Environmental Management objects to
all portions of the Plan as might be construed to limit or
prohibit its exercise of police or regulatory powers, if and as
necessary, to compel Dana Corp. to address ongoing environmental
violations existing at sites located in the State as a result of
the company's prior operations at those sites.

The Department has filed a US$14,000,000 claim against the
Debtors based on the Sites and, to the extent quantifiable, the
estimated cleanup costs at each site.

Elizabeth A. Whelan, Esq., the state's Deputy Attorney General,
relates that the Debtors and the Department have been exchanging
cleanup information in a good faith attempt to resolve
potentially disputed claims.

The goal of the settlement discussions is to reach an agreed-
upon dollar value of the Department's claims, thus allowing
payment pursuant to the terms of the Plan, Ms. Whelan says.

(b) Pine Tree ISD, et al.

Pine Tree Independent School District, Longview Independent
School District, Hallsville Independent School District, and the
county of Harrison, each have claims against the Debtors, which
are included in the class of claims described as Class 2A Claims
under the Third Amended Joint Plan of Reorganization.

Michael Reed, Esq., at McCreary, Veselka, Bragg & Allen, P.C.,
in Round Rock, Texas, relates that the secured claims arise from
property taxes for the tax years 2005-2007 due on the Debtors'
real and business personal property located in Texas.

According to the laws of the state of Texas, the tax liens
securing property taxes are superior claims over any other claim
or lien against the property.

Mr. Reed points out that the Plan provisions dealing with the
secured claims fail to provide fair and equitable treatment to
the Creditors' secured claims as required by Section 1129(b)(1)
and (2)(A) of the Bankruptcy Code, in that their secured claims
are entitled to express retention of all property tax liens,
including those for postpetition taxes, until all taxes,
penalties and interest protected by those liens have been paid.

Mr. Reed also points out that the Plan fails to provide for
interim interest as required by Section 506(b), at the statutory
rate provided in Section 511, being 1% per month as required by
the Texas Property Tax Code.  The interest must be paid in cash
in full as a component part of the Creditors' Tax Claims,
calculated through the Effective Date of the plan and to be
paid on the Effective Date, he contends.

To the extent the Tax Claims not be paid for any reason, on the
Effective Date, Mr. Reed asserts that post-Effective Date
interest at the same statutory rate of 1% per month must be
provided for the Claims.

To the extent that prepetition penalty has attached to any of
the Tax Claims, that prepetition penalty is entitled to be
considered a part of the Claims and must be paid in cash, in
full on the Effective Date, he further asserts.

Furthermore, to the extent any claims for administrative expense
are not timely paid as provided in the Plan, the Tax Claims will
be entitled to interest and penalty to be paid in full in cash
on the ultimate resolution and payment of these claims as
provided in Section 503.

Pine Tree, et al., also object to the bar date for objections to
claims being 150 days after the Effective Date.

                         About Dana

Headquartered in Toledo, Ohio, Dana Corporation --
http://www.dana.com/-- designs and manufactures products
for every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Aug. 31, 2007, the Debtors listed US$6,878,000,000 in total
assets and US$7,551,000,000 in total debts resulting in a total
shareholders' deficit of US$673,000,000.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007.  On Oct. 23, 2007, the Court approved the
adequacy of the Disclosure Statement explaining their Plan.  The
Court has set Dec. 10, 2007, to consider confirmation of the
Plan.  (Dana Corporation Bankruptcy News, Issue No. 63;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


DANA CORP: Noteholders Balk at Appaloosa Settlement Agreement
-------------------------------------------------------------
The Ad Hoc Committee of Dana Noteholders tells the U.S.
Bankruptcy Court for the Southern District of New York that,
initially, Dana Corp. and its debtor-affiliates have brought the
Appaloosa settlement to the panel but it was summarily rejected
because the panel saw that the settlement was nothing more than
a gift in exchange for the removal of a hollow threat, which in
this case, is Appaloosa's appeal.

The Ad Hoc Committee, whose membership currently consists of
holders of approximately US$1,400,000,000 of Dana Corp.'s
unsecured bonds, believes that it is inappropriate at this point
for the Creditors Committee to support an application by
Appaloosa under Section 503(b) for reimbursement of its
expenses, particularly when the contents of those fee
applications are unknown.

The Ad Hoc Committee contends that those fee applications cannot
be supported on the bases of Appaloosa having made a
"substantial contribution" to the Debtors' bankruptcy cases.

Furthermore, the Ad Hoc Committee points out that the Debtors
and the Creditors Committee, who is not a party to the Plan
Support Agreement, cannot unilaterally waive Appaloosa's breach
of the Plan Support Agreement to permit it to participate in the
Series B preferred offering because the terms of the Plan
Support Agreement require the consent of all its parties.

As reported in the Troubled Company Reporter on Nov. 28, 2007,
the Debtors asked the Court to approve a settlement that
resolves their disputes with Appaloosa, which had lost a bid to
provide equity exit financing to the company.  Under the
settlement, Dana agreed to reimburse up to US$2,000,000 for out-
of-pocket expenses Appaloosa Management incurred in the Chapter
11 cases, in exchange for its support to Dana's Joint Plan of
Reorganization.

                          About Dana

Headquartered in Toledo, Ohio, Dana Corporation --
http://www.dana.com/-- designs and manufactures products
for every major vehicle producer in the world, and supplies
drivetrain, chassis, structural, and engine technologies to
those companies.  Dana employs 46,000 people in 28 countries.
Dana is focused on being an essential partner to automotive,
commercial, and off-highway vehicle customers, which
collectively produce more than 60 million vehicles annually.

Dana has facilities in China in the Asia-Pacific, Argentina in
the Latin-American regions and Italy in Europe.

The company and its affiliates filed for chapter 11 protection
on March 3, 2006 (Bankr. S.D.N.Y. Case No. 06-10354).  As of
Aug. 31, 2007, the Debtors listed US$6,878,000,000 in total
assets and US$7,551,000,000 in total debts resulting in a total
shareholders' deficit of US$673,000,000.

Corinne Ball, Esq., and Richard H. Engman, Esq., at Jones Day,
in Manhattan and Heather Lennox, Esq., Jeffrey B. Ellman, Esq.,
Carl E. Black, Esq., and Ryan T. Routh, Esq., at Jones Day in
Cleveland, Ohio, represent the Debtors.  Henry S. Miller at
Miller Buckfire & Co., LLC, serves as the Debtors' financial
advisor and investment banker.  Ted Stenger from AlixPartners
serves as Dana's Chief Restructuring Officer.

Thomas Moers Mayer, Esq., at Kramer Levin Naftalis & Frankel
LLP, represents the Official Committee of Unsecured Creditors.
Fried, Frank, Harris, Shriver & Jacobson, LLP serves as counsel
to the Official Committee of Equity Security Holders.  Stahl
Cowen Crowley, LLC serves as counsel to the Official Committee
of Non-Union Retirees.

The Debtors filed their Joint Plan of Reorganization on
Aug. 31, 2007.  On Oct. 23, 2007, the Court approved the
adequacy of the Disclosure Statement explaining their Plan.
The Court has set Dec. 10, 2007, to consider confirmation of
the Plan.  (Dana Corporation Bankruptcy News, Issue No. 62;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


ESHRIKE SRL: Proofs of Claim Verification Is Until March 3, 2008
----------------------------------------------------------------
Juan Castronuovo, the court-appointed trustee for Eshrike SRL's
bankruptcy proceeding, verifies creditors' proofs of claim until
March 3, 2008.

Mr. Castronuovo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 33, 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 Eshrike 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 Eshrike's accounting
and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

         Eshrike SRL
         Charcas 4181
         Buenos Aires, Argentina

The trustee can be reached at:

         Juan Castronuovo
         Cerrito 1116
         Buenos Aires, Argentina


MAR DEL PLATA: Files for Reorganization Petition in Buenos Aires
----------------------------------------------------------------
Mar del Plata S.A. has requested for reorganization approval
after failing to pay its liabilities.

The reorganization petition, once approved by the court, will
allow Mar del Plata to negotiate a settlement with its creditors
in order to avoid a straight liquidation.

The case is pending in the National Commercial Court of First
Instance in Buenos Aires.

The debtor can be reached at:

          Mar del Plata S.A.
          Cordoba 1539
          Buenos Aires, Argentina


MAYA-QUINTANA SA: Trustee Verifies Claims Until March 28, 2008
--------------------------------------------------------------
Lidia Ramon Martin, the court-appointed trustee for Maya-
Quintana SA's reorganization proceeding, verifies creditors'
proofs of claim until March 28, 2008.

Ms. Martin will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 12 in Buenos Aires, with the assistance of Clerk
No. 24, 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 Maya-Quintana 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 Maya-Quintana's
accounting and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

Creditors will vote to ratify the completed settlement plan
during the assembly on Dec. 5, 2008.

The debtor can be reached at:

        Maya-Quintana SA
        Coronel Pagola 4170/72
        Buenos Aires, Argentina

The trustee can be reached at:

        Lidia Ramon Martin
        Avenida Cordoba 1352
        Buenos Aires, Argentina


NIPPON SHEET: To Sell 50% Stake in NH Techno Glass, Nikkei Says
---------------------------------------------------------------
Nippon Sheet Glass Co., Ltd., is looking to sell its 50% stake
in a joint venture with Hoya Corp., as it quits production of
motherglass used in liquid crystal display televisions,
Reuters, citing the Nikkei business daily, reports.

The Nikkei, according to Reuters, stated that Tokyo-based
Nippon Sheet plans to sell its stake in NH Techno Glass Corp
due to plunging prices and the burden of large upfront
investments.

The report added that the sale was likely to fetch tens of
billions of yen and will draw bids from both foreign and
domestic funds.

However, Nippon Sheet, in a company statement, said that the
Nikkei report was not based on any public announcement made by
the glass maker.

Nippon Sheet admits that although it has been considering every
possibility and option in its all business areas to improve
profit performance, including structural reforms, withdrawals
through divesture and business alliance, it confirms it has not
made any decision on this matter.

                     About Nippon Sheet

Headquartered in Tokyo, Nippon Sheet Glass Company, Limited --
http://www.nsg.co.jp-- Company operates in four business
divisions.  Its Glass and Construction Material division
manufactures, processes and sells various types of glasses, such
as float plate, polished wire, heat absorbing, heat reflecting,
reinforced, laminated, double-layer, vacuum, fireproof,
template, mirror and ornamental glass, as well as sashes.  It
also supplies construction materials, and interior accessories
for stores.  The Information and Electronics division offers
optical products, fine glass products, industrial glass
products, liquid crystal display (LCD) products and others.  Its
Glass Fiber division is engaged in the manufacture, processing
and sale of special glass fiber products, air filter-related
items and others.  The Others division is involved in the
facility engineering and the test analysis businesses, among
others.

The company has operations in Argentina, the United States, and
Austria.

Standard & Poor's Ratings Services affirmed on June 20, 2006,
its BB+ long-term corporate credit and long-term senior
unsecured debt ratings on Nippon Sheet Glass Co. Ltd., following
the company's successful acquisition of U.K.-based Pilkington
PLC.


POLI REC: Proofs of Claim Verification Deadline Is Feb. 15, 2008
----------------------------------------------------------------
Martin Alejandro Stolkiner, the court-appointed trustee for Poli
Rec S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Feb. 15, 2008.

Mr. Stolkiner will present the validated claims in court as
individual reports on April 7, 2008.  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 Poli Rec 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 Poli Rec's accounting
and banking records will be submitted in court on May 20, 2008.

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

The debtor can be reached at:

         Poli Rec S.A.
         Reconquista 887
         Buenos Aires, Argentina

The trustee can be reached at:

         Martin Alejandro Stolkiner
         Avenida Cordoba 1367
         Buenos Aires, Argentina


PURA SA: Proofs of Claim Verification Ends on Dec. 27
-----------------------------------------------------
Beatriz Susana Stachesky, the court-appointed trustee for Pura
S.A.'s bankruptcy proceeding, verifies creditors' proofs of
claim until Dec. 27, 2007.

Ms. Stachesky will present the validated claims in court as
individual reports on March 12, 2008.  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 Pura 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 Pura's accounting and
banking records will be submitted in court on April 23, 2008.

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

The debtor can be reached at:

         Pura S.A.
         Carlos Pellegrini 1135
         Buenos Aires, Argentina

The trustee can be reached at:

         Beatriz Susana Stachesky
         Avenida Cordoba 817
         Buenos Aires, Argentina


QUEBECOR MEDIA: Issues Statement Regarding Spectrum Auction
-----------------------------------------------------------
In light of media reports and questions from some Members of
Parliament, Quebecor Media Inc. issues this statement:

"Quebecor Media Inc. and its subsidiary, Videotron Ltd., fully
respected the integrity of the public consultation process
concerning the establishment of rules to be applied to the
auction of spectrum for mobile wireless services.  All
representations made to various government authorities were
conducted by persons who were duly registered as lobbyists."

"In addition, Quebecor Media Inc. confirms that its President
and Chief Executive Officer, Mr. Pierre Karl Peladeau, met on
two occasions with the Hon. Maxime Bernier when he was Minister
of Industry to discuss different issues including the company's
perspective on the wireless file, specifically that it is in the
interest of Canadian consumers to have greater competition in
this area.  The meetings were organized by company
representatives who were duly recorded in the Lobby Registry, as
were Mr. Peladeau and individuals who accompanied him to these
meetings.  The two meetings took place in the winter and the
summer of 2006."

"Mr. Peladeau and other senior officials of the company and its
subsidiaries also met with other members of the Cabinet, of the
public service as well as MPs including members from opposition
parties.  All individuals involved in the organization of these
meetings and in the meetings themselves acted in accordance with
the applicable legislation."

"Quebecor Media Inc. is pleased with the decision announced
earlier this week by the Minister of Industry, the Hon. Jim
Prentice, that allows new competitors to enter the wireless
market since this decision is clearly in the interest of all
Canadian consumers."

Quebecor Media Inc., a subsidiary of Mortsel, Belgium-based,
Quebecor Inc. -- http://www.quebecor.com/-- owns operating
companies in numerous media-related businesses: Videotron Ltd.,
a cable operator in Quebec and a major Internet Service Provider
and provider of telephone and business telecommunications
services; Sun Media Corporation, Canada's chain of tabloids and
community newspapers; TVA Group Inc., operator of French-
language general-interest television network in Quebec, a number
of specialty channels, and the English-language general-interest
station Sun TV; Canoe Inc., operator of a network of English-
and French-language Internet properties in Canada; Nurun Inc., a
major interactive technologies and communications agency with
offices in Canada, the United States, Europe and Asia; companies
engaged in book publishing and magazine publishing; and
companies engaged in the production, distribution and retailing
of cultural products, namely Archambault Group Inc., chain of
music stores in eastern Canada, TVA Films, and Le SuperClub
Videotron ltee, a chain of video and video game rental and
retail stores.

Headquartered in Montreal, Canada, the company has global
facilities in India, France and Argentina.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Oct. 1, 2007, Moody's Investors Service rated Quebecor Media
Inc.'s US$700 million add-on senior unsecured note issue B2.
Ratings on the underlying 7.75% senior unsecured notes due in
March of 2016 were affirmed at the same B2 level.  At the same
time, QMI's Ba3 corporate family rating and stable ratings
outlook were affirmed.


SEROGEN SRL: Proofs of Claim Verification Deadline Is March 7
-------------------------------------------------------------
Reynaldo Cesar Pireni, the court-appointed trustee for Serogen
SRL's bankruptcy proceeding, verifies creditors' proofs of claim
until March 7, 2008.

Mr. Pireni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk
No. 12, 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 Serogen 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 Serogen's accounting
and banking records will be submitted in court.

La Nacion didn't state the reports submission deadlines.

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

The debtor can be reached at:

         Serogen SRL
         Avenida General Moscon 2790
         Buenos Aires, Argentina

The trustee can be reached at:

         Reynaldo Cesar Pireni
         Avenida Callao 930
         Buenos Aires, Argentina




===============
B A R B A D O S
===============


DIGICEL GROUP: Phone Card Promotion Angers Subscribers
------------------------------------------------------
The Caribbean Broadcasting Corp. reports that Digicel's phone
card promotion has angered some subscribers in Barbados.

According to the Caribbean Broadcasting, clients who claimed
that they could not find the phone cards sought assistance from
the Fair Trading Commission.

The report says that the phone cards was supposed to be
Digicel's independence giftto its clients.  The promotion lets
pre-paid subscribers purchase a US$20 phone card for half the
price.  Howerver, some of the clients were unable to get the
offer from any of the Digicel units they visited.

Digicel's general manager Roy Gillingham explained in a press
statement that the promotion was on a limited number of phone
cards and apologized to the clients who were affected.

Digicel will "continue to introduce innovative specials, which
reward customers for their loyalty," the Caribbean Broadcasting
states, citing Mr. Gillingham.

Digicel Ltd. is a wireless services provider in the Caribbean
region founded in 2000, and controlled by Denis O'Brien.  The
company started operations in Jamaica in April 2001 and now
offers GSM mobile services in Caribbean countries including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Bermuda, Cayman, and Curacao among others.  Digicel finished
FY2005 with 1.722 million total subscribers -- 97% pre-paid --
estimated market share of 67% and revenues and EBITDA of US$478
million and US$155 million, respectively.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- Proposed US$1.4 billion senior subordinated notes
      due 2015 assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




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


MEDAMERICA INT'L: Proofs of Claim Filing Deadline Is Dec. 21
------------------------------------------------------------
MedAmerica International Insurance, Ltd.'s creditors are given
until Dec. 21, 2007, to prove their claims to Kehinde A. L.
George, 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.

MedAmerica International's shareholder agreed on Nov. 22, 2007,
to place the company into voluntary liquidation under Bermuda's
Companies Act 1981.

The liquidator can be reached at:

         Kehinde A. L. George
         Attride-Stirling & Woloniecki
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11, Bermuda


MEDAMERICA INT'L: Sets Final Shareholders Meeting for Dec. 24
-------------------------------------------------------------
MedAmerica International Insurance, Ltd. will hold its final
shareholders meeting on Dec. 24, 2007, at 9:00 a.m., at:

            Attride-Stirling & Woloniecki
            Crawford House, 50 Cedar Avenue
            Hamilton HM 11, 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.


OVERSEAS PARTNERS: Sets Final Shareholders Meeting for Dec. 28
--------------------------------------------------------------
Overseas Partners Ltd. will hold its final shareholders meeting
on Dec. 28, 2007, at 10:00 a.m., at:

           PricewaterhouseCoopers
           Dorchester House, 7 Church Street
           Hamilton, HM 11, 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.


SAMARITAN HEALTH: Proofs of Claim Filing Ends on Dec. 21
--------------------------------------------------------
Samaritan Health Partners Insurance Ltd.'s creditors are given
until Dec. 21, 2007, to prove their claims to Kehinde A. L.
George, 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.

Samaritan Health's shareholder agreed on Nov. 22, 2007, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

         Kehinde A. L. George
         Attride-Stirling & Woloniecki
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11, Bermuda


SAMARITAN HEALTH: Will Hold Last Shareholders Meeting on Dec. 24
----------------------------------------------------------------
Samaritan Health Partners Insurance Ltd. will hold its final
shareholders meeting on Dec. 24, 2007, at 9:30 a.m., at:

            Attride-Stirling & Woloniecki
            Crawford House, 50 Cedar Avenue
            Hamilton HM 11, 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.


SEA CONTAINERS: Marathon Discloses 10.7% Equity Stake
-----------------------------------------------------
Marathon Asset Management LLC disclosed in a regulatory filing
with the Securities and Exchange Commission dated November 16,
2007, that it beneficially owns 2,790,000 shares of Class A
Common Stock of Sea Containers Ltd.

The 2,790,000 shares, par value US$0.01 per share, are held by
Marathon Special Opportunity Master Fund, Ltd.

Marathon Asset serves as the investment manager of the Fund
pursuant to an Investment Management Agreement.  In its capacity
as investment manager of the Fund, Marathon Asset has sole power
to vote and direct the disposition of all Class A Common Shares
held by the Fund.

Thus, for the purposes of Reg. Section 240.13d-3, Marathon Asset
is deemed to beneficially own 2,790,000 shares, or 10.7% of the
deemed issued and outstanding Sea Containers Class A Common
Shares as of November 16, 2007.  Marathon Asset's interest in
the securities is limited to the extent of its pecuniary
interest in the Fund, if any.

                    About Sea Containers

Headquartered in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.  In its schedules
filed with the Court, Sea Containers disclosed total assets of
US$62,400,718 and total liabilities of US$1,545,384,083.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Dec 21, 2007.  (Sea Containers Bankruptcy News, Issue No. 31;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEA CONTAINERS: SCSL Panel Has Attride-Stirling as Counsel
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware gave the
Official Committee of Unsecured Creditors of Sea Containers
Services Ltd., authority to retain Attride-Stirling & Woloneicki
as its "Bermuda Counsel", nunc pro tunc to Aug. 13, 2007.

James C. Carignan, Esq., at Pepper Hamilton LLP, in Wilmington
Delaware, relates that the SCSL Committee has selected Attride-
Stirling to serve as Bermuda counsel because the firm's
attorneys have extensive experience and knowledge in the field
of Bermuda insolvencies, Bermuda liquidations, and Bermuda-
related banking, finance, litigation, and corporate advisory
work, among others.

Kehinde A. L. George, head of Insolvency at Attride-Stirling,
will coordinate the firm's representation in the Debtors'
Chapter 11 cases, Mr. Carignan says.

According to Mr. Carignan, Mr. George has over 15 years of
experience in insolvency, corporate restructuring, and related
matters.

As Bermuda Counsel, Attride-Stirling will:

   (a) provide legal advice with respect to the SCSL Committee's
       rights, powers , and duties in the Bermuda Proceedings;

   (b) represent the SCSL Committee at negotiations, hearings,
       and other Bermuda Proceedings, as required;

   (c) advise and assist the SCSL Committee in discussions with
       the provisional liquidators, Debtors and other parties in
       interest, as well as professionals retained by any of the
       parties, regarding the overall administration of the
       Bermuda Proceedings;

   (d) interface and coordinate with the provisional liquidators
       and any analogous parties that may be appointed under the
       laws of the various jurisdictions, as permitted or
       required;

   (e) appear before the Bermuda Supreme Court, the Bermuda
       Court of Appeal, Bermuda Magistrate Courts and Bermuda
       regulatory bodies, and protecting the interests
       represented by the SCSL Committee before the courts and
       regulators, as required;

   (f) assist the SCSL Committee's investigation of the assets,
       liabilities, and financial condition of the Debtors,
       and of the operations of the Debtors' businesses;

   (g) assist and advise the SCSL Committee with respect to its
       communications with other creditors as the
       communications relate to the Bermuda Proceedings;

   (h) review and analyze on behalf of the SCSL Committee all
       pleadings, orders, statements of operations, schedules,
       and other legal documents filed in the Bermuda
       Proceedings;

   (i) prepare on behalf of the SCSL Committee all pleadings,
       motions, orders, reports, and other papers in furtherance
       of the Committee's interests and objectives in the
       Bermuda Proceedings;

   (j) advise the SCSL Committee on matters of Bermuda corporate
       law and governance;

   (k) attend to the meetings of SCSL Committee, if requested;
       and

   (l) perform all other legal services for the SCSL Committee
       that may be necessary and proper.

Attride-Stirling's professional services will be paid based on
its standard hourly rates:

     Kehinde George -- Partner             $550.00
     Jan Woloniecki -- Senior Counsel      $632.50
     Larry Mussenden -- Associate          $440.00

The firm will also be reimbursed for necessary out-of-pocket
expenses.

Mr. George assures the Court that the members and associates of
his firm do not represent or hold an interest adverse to the
Debtors, their creditors, or any other party-in-interest.
Accordingly, Attride-Stirling is a "disinterested person" as
that term is defined under the Bankruptcy Code.

                    About Sea Containers

Headquartered in Hamilton, Bermuda, Sea Containers Ltd. --
http://www.seacontainers.com/-- provides passenger and freight
transport and marine container leasing.  Registered in Bermuda,
the company has regional operating offices in London, Genoa, New
York, Rio de Janeiro, Sydney, and Singapore.  The company is
owned almost entirely by United States shareholders and its
primary listing is on the New York Stock Exchange (SCRA and
SCRB) since 1974.  On Oct. 3, the company's common shares and
senior notes were suspended from trading on the NYSE and NYSE
Arca after the company's failure to file its 2005 annual report
on Form 10-K and its quarterly reports on Form 10-Q during 2006
with the U.S. Securities and Exchange Commission.

Through its GNER subsidiary, Sea Containers Passenger Transport
operates Britain's fastest railway, the Great North Eastern
Railway, linking England and Scotland.  It also conducts ferry
operations, serving Finland and Estonia as well as a commuter
service between New York and New Jersey in the U.S.

Sea Containers Ltd. and two subsidiaries filed for chapter 11
protection on Oct. 15, 2006 (Bankr. D. Del. Case No. 06-11156).
Edmon L. Morton, Esq., Edwin J. Harron, Esq., Robert S. Brady,
Esq., Sean Matthew Beach, Esq., and Sean T. Greecher, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in
their restructuring efforts.

The Official Committee of Unsecured Creditors and the Financial
Members Sub-Committee of the Official Committee of Unsecured
Creditors of Sea Containers Ltd. is represented by William H.
Sudell, Jr., Esq., and Thomas F. Driscoll, Esq., at Morris,
Nichols, Arsht & Tunnell LLP.  Sea Containers Services, Ltd.'s
Official Committee of Unsecured Creditors is represented by
attorneys at Willkie Farr & Gallagher LLP.  In its schedules
filed with the Court, Sea Containers disclosed total assets of
US$62,400,718 and total liabilities of US$1,545,384,083.  The
Debtors' exclusive period to file a chapter 11 plan expires on
Dec 21, 2007.  (Sea Containers Bankruptcy News, Issue No. 31;
Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000).


UNITED CARE: Proofs of Claim Filing Is Until Dec. 21
----------------------------------------------------
United Care Insurance Company Ltd.'s creditors are given until
Dec. 21, 2007, to prove their claims to Kehinde A. L. George,
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.

United Care's shareholder agreed on Nov. 22, 2007, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

         Kehinde A. L. George
         Attride-Stirling & Woloniecki
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11, Bermuda


UNITED CARE: Sets Final Shareholders Meeting for Dec. 24
--------------------------------------------------------
United Care Insurance Company Ltd. will hold its final
shareholders meeting on Dec. 24, 2007, at 9:30 a.m., at:

            Attride-Stirling & Woloniecki
            Crawford House, 50 Cedar Avenue
            Hamilton HM 11, 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.




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


AMR CORP: Low Stock Price Cues FL Group to Cut Stake by 8%
----------------------------------------------------------
In a regulatory filing with the Securities and Exchange
Commission, FL Group hf. disclosed that as of the close of
business on Nov. 29, 2007, it beneficially owned 2,658,000
shares of common stock of AMR Corporation.

FL Group's stake constitutes approximately 1.1% of outstanding
shares of common stock of AMR (based on 249,121,904 shares
outstanding on Oct. 12, 2007, as reported in AMR's Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2007).

FL Group previously owned a total of 22,658,000 shares of AMR
common stock, which represented approximately 9.1% of the
outstanding shares of AMR common stock.  The shares included
20,458,000 shares held by FL Group's wholly owned subsidiary, FL
Group Holding Netherlands B.V.

On Nov. 28, 2007, FL Group's wholly owned subsidiary sold
17,800,000 of the 20,458,000 shares it held.  The wholly owned
subsidiary holds the remaining 2,658,000 Shares.

                     Swap Transactions

On Dec. 4, 2006, FL Group entered into an ISDA Master Agreement
with Morgan Stanley & Co. International plc, relating to shares
of common stock of AMR.  FL Group entered into a series of swap
transactions executed in September 2007 under the MSC Master
Agreement, relating to a total of 2,200,000 shares of AMR common
stock.  Under the MSC Master Agreement and confirmation letters
relating to the specific transactions effected under the MSC
Master Agreement, FL Group had the right to elect to settle the
swap transactions by taking delivery of the 2,200,000 shares of
common stock.  Accordingly, FL Group was deemed to beneficially
own the 2,200,000 shares of common stock.

The September Swap Transactions were scheduled to expire on
Nov. 16, 2007, and were subsequently extended on the same terms.
On Nov. 28, 2007, FL Group divested its interest in the
2,200,000 shares, which were the subject of the November 2007
swap extensions.

FL Group ceased to be the beneficial owner of more than 5% of
AMR common stock on Nov. 28, 2007.

                   Reason for Cutting Stake

According to The Wall Street Journal, FL Group cited lack of
progress by AMR in boosting shareholder value as the main reason
for cutting its stake in the airline company.

In September, WSJ said, FL Group urged AMR to consider strategic
alternatives, such as divesting itself of assets such as the
frequent-flier program or, secondarily, its American Eagle
regional airline business.

                   Divesting American Eagle

As reported in the Troubled Company Reporter on Nov. 29, 2007,
AMR said it plan to divest American Eagle to:

   -- provide the company with the structure, incentives and
      opportunities to win new business and provide new
      opportunities for American Eagle's employees; and

   -- focus on the company's mainline business, while ensuring
      continued access to cost-competitive regional feed.

American Eagle, which provides regional airline services,
operates approximately 300 aircraft, with approximately 1,700
daily flights to more than 150 cities throughout the United
States, Canada, the Bahamas, the Caribbean and Mexico.  In 2007,
American Eagle expects to generate annual revenues of
approximately US$2.3 billion.

The planned divestiture would include both American Eagle
Airlines Inc., which feeds American Airlines hubs throughout
North America, and its affiliate, Executive Airlines Inc., which
carries the American Eagle name throughout the Bahamas and the
Caribbean from bases in Miami and San Juan, Puerto Rico.

                      FL Group Comments

WSJ relates that FL Group agrees with AMR's plan, however, it
said more was needed to boost the airline company's stock price.

"With AMR's focus now on divesting American Eagle, we don't
expect them to move on any other strategic initiatives to create
shareholder value over the mid-term.  As such, we believe there
are more interesting investment opportunities for our portfolio
at the current time," spokesman Halldor Kristmannsson told WSJ.

                    About AMR Corporation

Headquartered in Forth Worth, Texas, AMR Corporation (NYSE:
AMR) operates with its principal subsidiary, American Airlines
Inc. -- http://www.aa.com/-- a worldwide scheduled passenger
airline.  At the end of 2006, American provided scheduled jet
service to about 150 destinations throughout North America, the
Caribbean, Latin America, Europe and Asia, including Belgium,
Brazil, Japan, among others.  American is also a scheduled
airfreight carrier, providing freight and mail services to
shippers throughout its system.

Its wholly owned subsidiary, AMR Eagle Holding Corp., owns two
regional airlines, American Eagle Airlines Inc. and Executive
Airlines Inc., and does business as "American Eagle."  American
Beacon Advisors Inc., a wholly owned subsidiary of AMR, is
responsible for the investment and oversight of assets of AMR's
U.S. employee benefit plans, as well as AMR's short-term
investments.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 30, 2007, following the announcement by AMR Corp. that it
intends to divest its American Eagle Holding Corp. subsidiary in
2008, Fitch expects no near-term impact on the debt ratings of
AMR and its principal operating subsidiary, American Airlines
Inc.  Fitch affirmed both entities' Issuer Default Ratings at
'B-' on Nov. 13, 2007, while revising the Rating Outlook for AMR
to Positive.


BRASKEM SA: Inks Pact with Petrobras, Petroquisa & Odebrecht
------------------------------------------------------------
Braskem S.A. has entered into an agreement with Petroleo
Brasileiro S.A., Petrobras Quimica S.A and Odebrecht S.A. with
the objective of further consolidating Brazil's national
petrochemical industry through the incorporation by Braskem of
petrochemical assets held by Petrobras and Petroquisa.

According to Braskem CEO Jose Carlos Grubisich, "This decisive
step in the consolidation of Brazil's petrochemical sector
positions Braskem as a major player in the global petrochemical
industry, and provides the company with strong cash flow
generation that will enable it to accelerate expansion and
internationalization projects."  "The implementation of this
agreement will enable Braskem to accelerate its strategic goal
to become one of the ten leading global petrochemical players,"
said Mr. Grubisich.

The petrochemical assets of Petrobras and Petroquisa to be
integrated by Braskem are:

   * 37.3% of the total capital of Companhia Petroquimica do
     Sul;

   * 40% of the total capital of Ipiranga Quimica and Ipiranga
     Petroquimica;

   * 40% of the total capital of Petroquimica Paulinia;

   * 100% of the total capital of Petroquimica Triunfo.

Under the agreement, the combined interests of Petrobras and
Petroquisa in Braskem will increase from 8.1% to 30% of the
voting capital and from 6.8% to 25% of the total capital,
excluding the shares held in treasury.
The operation should be concluded within six months and will
result in the issuance of 103.4 million new Braskem shares,
comprising 46.9 million common shares and 56.5 million class "A"
preferred shares.

The investment agreement was approved by the Board of Directors
of the companies involved, and is being communicated to the
Brazilian antitrust agency CADE.

Braskem (BOVESPA: BRKM5; NYSE: BAK; LATIBEX: XBRK) --
http://www.braskem.com.br/-- is a thermoplastic resins producer
in Latin American, and is among the three largest Brazilian-
owned private industrial companies.  The company operates 13
manufacturing plants located throughout Brazil, and has an
annual production capacity of 5.8 million tons of resins and
other petrochemical products.  The company reported consolidated
net revenues of about US$9 billion in the trailing twelve months
through Sept. 30, 2007.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 30, 2007, Moody's Investors Service has assigned corporate
family ratings of Ba1 on its global scale and Aa2.br on its
Brazilian national scale to Braskem S.A.  Moody's said the
ratings outlook is stable.

As reported in the Troubled Company Reporter-Latin America on
Nov. 28, 2007, Standard & Poor's Ratings Services has placed its
'BB' corporate credit rating on petrochemical company Braskem
S.A. on CreditWatch with positive implications.


COMPANHIA ENERGETICA: Gets Outperform Rating from Credit Suisse
---------------------------------------------------------------
Credit Suisse analysts have reinitiated coverage of Companhia
Energetica de Minas Gerais, assigning an "outperform" rating on
its shares, Newratings.com reports.

Newratings.com relates that Credit Suisse set the target price
for Companhia Energetica's shares at US$28.

The analysts said in a research note that Companhia Energetica's
stock is "trading at a discount to the sector."

According to Newratings.com, the analysts said Companhia
Energetica "has among the highest exposure in the sector to the
trend of rising energy prices in Brazil."  The firm's generation
unit would have 10% EBITDA growth in 2006-2012.

Companhia Energetica would generate higher-than-sector-average
cash flow yields of 12.4% in 2008 and of 10.9% in 2009,
Newratings.com states, citing Credit Suisse.

Companhia Energetica de Minas Gerais -- http://www.cemig.com.br/
-- is one of the largest and most important electric energy
utilities in Brazil due to its strategic location, its technical
expertise and its market.  Cemig's concession area extends
throughout nearly 96.7% of the State of Minas Gerais, Brazil.
Cemig owns and operates 52 power plants, of which six are in
partnership with private enterprises, relying on a predominantly
hydroelectric energy matrix.  Electric energy is produced to
supply more than 17 million people living in the state's 774
municipalities.  In addition to those 52 plants, another three
are currently under construction.

Cemig is also active in several other states, through ventures
for the generation or the commercialization of energy in these
Brazilian states: in Santa Catarina (generation), Rio de Janeiro
(commercialization and generation), Espirito Santo (generation)
and Rio Grande do Sul (commercialization).

                        *     *     *

As reported on March 8, 2007, Moody's Investors Service assigned
corporate family ratings of Ba2 on its global scale and Aa3.br
on its Brazilian national scale to Companhia Energetica de Minas
Gerais aka CEMIG.  The rating action triggered the upgrade of
CEMIG's outstanding debentures due in 2009 and 2011, and of the
BRL250 million 2014 senior unsecured guaranteed debentures of
its wholly owned subsidiary, Cemig Distribuicao S.A. to Ba2 from
B1 on the global scale and to Aa3.br from Baa2.br on the
Brazilian national scale, concluding the review process
initiated on Aug. 8, 2006.


DELPHI CORP: Delays Hearing on Chapter 11 Disclosure Statement
--------------------------------------------------------------
Delphi Corp. and its debtor-affiliates asked the U.S. Bankruptcy
Court for the Southern District of New York to to reschedule to
Dec. 6, 2007, the hearing to consider approval of the disclosure
statement explaining the terms of their Joint Plan of
Reorganization.

The hearing on the Disclosure Statement, which has been moved
three times, was last scheduled for Nov. 29, 2007.  Delphi
needs to obtain the Court's approval of the document before it
could begin soliciting votes from creditors entitled to vote on
the Plan.

According to Dow Jones Newswire, Delphi spokesman Lindsey
Williams said that the delay won't affect the company's plan to
emerge from Chapter 11 in the first quarter of 2008.  The auto-
parts supplier sought a postponement to resolve objections to
proposed amendments to the Plan.

Delphi on Oct. 30 and Nov. 14 disclosed the potential
amendments, which will:

          (i) reduce the amount of financing it will obtain to
              exit Chapter 11,

         (ii) amend terms of its investment agreement with
              Appaloosa Management L.P.-led investors, and

        (iii) provide for less cash available for use as
              "currency" in the Plan.

The Official Committee of Equity Security Holders, which,
together with General Motors Corp. and certain of the Debtors'
unions, supported the original terms of the Plan, has expressed
opposition to the proposed amendments.  Bonnie Steingart, Esq.,
at Fried, Frank, Harris, Shriver & Jacobson LLP, in New York,
notes, among other things, that under the proposed amendments,
equity holders will receive less, while Appaloosa, et al., will:

  -- double their immediate return on their minimum investment
     of US$975,000,000, from 27.5% to 54.8% under the proposed
     amendment to the investment agreement; and

  -- nearly triple their immediate return on their maximum
     investment of US$2,550,000,000, from 20.8% to 58.5%.

The Equity Committee says that the Disclosure Statement is
devoid of any legitimate rationale for the grant of that
extraordinary windfall to the Plan Investors.

The Official Committee of Unsecured Creditors, which members
will receive shares of new common stock of reorganized Delphi,
also said it will no longer support the Plan.  It notes that
while proposed recovery to unsecured creditors has been reduced
(the original Plan contemplated on providing these claimants a
combination of cash and stock), consideration to the Plan
Investors has been increased.  The Creditors Committee says that
unsecured creditors will likely reject the Plan and the Debtors
will not be able to have the Plan confirmed absent support from
these creditors.

General Motors, which will recover US$2,700,000,000 in cash,
notes and stock, has expressed support to the potential
amendments to the Plan.

                     About Delphi Corp.

Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ)
-- http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional
headquarters in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
March 31, 2007, the Debtors' balance sheet showed
US$11,446,000,000 in total assets and US$23,851,000,000 in total
debts.

The Debtors' exclusive plan-filing period expires on
Dec. 31, 2007.  On Sept. 6, 2007, the Debtors filed their
Chapter 11 Plan of Reorganization and a Disclosure Statement
explaining that Plan.  (Delphi Bankruptcy News, Issue No. 98;
Bankruptcy Creditors' Service Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


DELPHI CORP: Reserves US$120MM at 3Q07 for Probe & Cleanup
----------------------------------------------------------
Delphi Corp., as of Sept. 30, 2007, had reserves of US$120
million for environmental investigation and remediation compared
with US$118 million at Dec. 31, 2006.

The company is in various stages of investigation and cleanup at
its manufacturing facilities where contamination has been
discovered.

Additionally, the Company received notices that it is a
potentially responsible party in proceedings at various sites,
including the Tremont City Landfill Barrel Site located in
Tremont, Ohio, which is alleged to involve groundwater
contamination.

The company said it completed a number of environmental
investigations during 2006 as it continues to pursue its
transformation plan, which contemplates significant
restructuring activity, including the sale or closure of
numerous facilities.

These assessments identified previously unknown conditions and
led to new information that allowed Delphi to update its
estimate of required remediation for previously identified
conditions and resulted in Delphi recording an adjustment to its
environmental reserves.

As of Dec. 31, 2006, US$3 million of the company's environmental
reserve was recorded in liabilities subject to compromise.

The company said the reserves reflect the fact that GM Corp.
retained the environmental liability for inactive sites as part
of the company's separation from GM.

The company was a subsidiary of GM Corp. until its separation in
1999.

Headquartered in Troy, Michigan, Delphi Corporation (OTC: DPHIQ)
-- http://www.delphi.com/-- is the single supplier of vehicle
electronics, transportation components, integrated systems and
modules, and other electronic technology.  The company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  Delphi has regional
headquarters in Japan, Brazil and France.

The company filed for chapter 11 protection on Oct. 8, 2005
(Bankr. S.D.N.Y. Lead Case No. 05-44481).  John Wm. Butler Jr.,
Esq., John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden,
Arps, Slate, Meagher & Flom LLP, represent the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represents the Official Committee of Unsecured Creditors.  As of
March 31, 2007, the Debtors' balance sheet showed
US$11,446,000,000 in total assets and US$23,851,000,000 in total
debts.

The Debtors' exclusive plan-filing period expires on
Dec. 31, 2007.  On Sept. 6, 2007, the Debtors filed their
Chapter 11 Plan of Reorganization and a Disclosure Statement
explaining that Plan.


DRESSER-RAND: Employees Back to Work at Painted Post Facility
-------------------------------------------------------------
Dresser-Rand Group Inc. has began an orderly process of calling
bargaining unit employees back to work after a 17 week work
stoppage involving approximately 400 employees at its Painted
Post facility in New York State.  On Nov. 29, 2007, the company
announced that, after reaching impasse in its negotiations with
IUE-CWA Local 313, it was implementing the terms of its last
offer and inviting bargaining unit employees to return to work.
The union offered, on behalf of its membership to end the strike
by unconditionally offering to return to work under the terms of
the implemented company offer.  The company has released its
temporary workforce.

According to Dan Meisner, "Total production from all sources is
expected to continue at pre-strike levels as we replace
temporary workers and subcontracted work with returning
employees.  Approximately 75 employees are expected to return to
work on Tuesday, Dec. 4.  Additional employees will be scheduled
to return to work over the next few days and weeks as we
identify and fill vacancies.  We look forward to the return of
our employees."

Doug Rich, Director of Operations, said, "We recognize that this
has been a difficult situation for all of us that have been
affected by the work stoppage -- our employees who have been on
strike and their families, the Painted Post community and our
salaried and new employees who have been working tremendous
hours to continue providing uninterrupted service to our
clients.  We now have an opportunity to move forward and forge a
bright future by working together in an environment of mutual
respect, cooperation and teamwork."

Dresser-Rand Group Inc. (NYSE: DRC) is among the largest
suppliers of rotating equipment solutions to the worldwide oil,
gas, petrochemical, and process industries.  It operates
manufacturing facilities in the United States, France, Germany,
Norway, India, and Brazil, and maintains a network of 24 service
and support centers covering 105 countries.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 7, 2007, Standard & Poor's Ratings Services assigned its
bank loan and recovery ratings to the US$500 million senior
secured revolving credit facility due 2012 of Dresser-Rand Group
Inc. (BB-/Stable/--).


GENERAL MOTORS: Still Open to Future Tie-Up with Proton Holdings
----------------------------------------------------------------
General Motors Corp. has not ruled out interest in a possible
tie-up with Proton Holdings Berhad despite the Malaysian firm's
intention to do it alone, Reuters reports, citing a senior
GM official.

The report recounts that GM and Volkswagen AG had both expressed
interest in an equity partnership with Proton.  Previous press
reports had stated that Proton and Volkswagen may reach a deal
before the end of the year.

However, Malaysia's state investment arm, Khazanah Nasional
Berhad, which controls Proton, shocked investors when it
announced that Proton discontinued negotiations with Volkswagen.
An improvement in Proton's domestic sales and exports had led to
its decision to halt negotiations with Volkswagen.  Khazanah
Nasional and the Malaysian government have reportedly taken note
of the recent positive developments and they believe that
Proton's management should be allowed to continue with its plans
to further strengthen the company and turn it around.

Earlier media reports speculated that talks with GM had also
been shelved.

"Never say never.  But in the meantime, things have moved on,"
Reuters quotes Steve Carlisle, head of GM's Southeast Asian
operations, as telling reporters at the launch of a new
Chevrolet vehicle in Malaysia.  "Probably by the time we talk
again, things will have moved on some more," he added.

Mr. Carlisle further stated that GM "will need then to
understand what the. . . conditions are, what might be possible
and what the situation really is.  Then we will make a fresh
assessment at that point in time."

Reuters says that despite the government's decision, there is
speculation that it will look to a local partner to bolster
Proton.

Reuters notes that Proton's shares have lost a quarter of their
value, or about MYR703 million (US$209.6 million), since the
government announcement that the company would try to restore
its fortunes without outside help.  Proton's domestic market
share, the report adds, has been cut to more than 30% from
around two-thirds of the market in the 1990s.

                    About Proton Holdings

Headquartered in Selangor Darul Ehsan, Malaysia, Perusahaan
Otomobil Nasional Berhad or Proton Holdings Berhad --
http://www.protonedar.com.my/-- is engaged in manufacturing,
assembling, trading and provision of engineering and other
services in respect of motor vehicles and related products.  Its
other activities include property development, trading of steel
and related products, engine and technologies research,
development of automotive related technologies, investment
holding, importation and distribution of motor vehicles,
related spare parts and accessories, holds intellectual
property, provides engineering consultancy, operates single make
race series and carries out specific engineering contracts.  The
Group's operations are carried out in Malaysia, England,
Australia, Socialist Republic of Vietnam and the United States
of America.

                           About GM

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs
about 280,000 people around the world and manufactures cars and
trucks in 33 countries, including the United Kingdom, Germany,
France, Russia, Brazil and India.  In 2006, nearly 9.1 million
GM cars and trucks were sold globally under the following
brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security
and information services.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 9, 2007, Moody's Investors Service affirmed its rating for
General Motors Corporation (B3 Corporate Family Rating, Ba3
senior secured, Caa1 senior unsecured and SGL-1 Speculative
Grade Liquidity rating) but changed the outlook to Stable from
Positive.  In an environment of weakening prospects for US auto
sales GM has announced that it will take a non-cash charge of
$39 billion for the third quarter of 2007 related to
establishing a valuation allowance against its deferred tax
assets (DTAs) in the US, Canada and Germany.

As reported in the Troubled Company Reporter on Oct. 23, 2007,
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and other ratings on General Motors Corp. and
removed them from CreditWatch with positive implications, where
they were placed Sept. 26, 2007, following agreement on the new
labor contract.  The outlook is stable.


MYERS INDUSTRIES: Quells Market Rumor on GS Capital Backing Out
---------------------------------------------------------------
Myers Industries Inc. is issuing a statement in response to
certain rumors in the market regarding the status of Myers'
definitive agreement to be acquired by GS Capital Partners IV,
L.P., an affiliate of Goldman Sachs, in a transaction valued at
approximately US$1.1 billion, including the assumption of
certain debt.  Under the terms of the merger agreement, GS
Capital will acquire all of the outstanding common stock of
Myers for US$22.50 per share in cash.

While it has been and remains Myers' policy not to address
market rumors, in the interest of its shareholders, management
is confirming that Myers has not received any indication from GS
Capital that it does not intend to close the transaction in the
fourth quarter of 2007 within the time frame provided in the
merger agreement.  Myers and their advisors continue to work
diligently with GS Capital and its advisors toward consummation
of the transaction.

Myers Industries has no intention, and specifically disclaims
any obligation, to provide any update with respect to the
matters addressed in this release or to otherwise address any
rumors in the market generally, and Myers' policy not to address
market rumors remains in place.

                    About Myers Industries

Myers Industries, Inc. -- http://www.myersind.com-- is an
international manufacturer of polymer products for industrial,
agricultural, automotive, commercial, and consumer markets.  The
Company is also the largest wholesale distributor of tools,
equipment, and supplies for the tire, wheel, and undervehicle
service industry in the US.  The company reported record net
sales from continuing operations of USUS$780.0 million in 2006.
It has operations in Brazil.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 19, 2007, Standard & Poor's Ratings Services withdrew all
ratings on Myers Industries Inc.  The withdrawal follows the
announcement that private equity sponsor Goldman Sachs Capital
Partners would postpone the closing of its acquisition of Myers
until the fourth quarter.


SANYO ELECTRIC: Fitch Holds BB+ Ratings on Negative Watch
---------------------------------------------------------
Fitch Ratings has announced Sanyo Electric Co., Ltd.'s Long-term
foreign currency Issuer Default Rating, Long-term local currency
IDR and senior unsecured ratings of 'BB+' remain on Rating Watch
Negative.

Fitch is holding Sanyo Electric's ratings on RWN given that the
investigation by Japan's Securities and Exchange Surveillance
Commission into the company's past accounting practices is
continuing.  Fitch originally placed the company's ratings on
RWN on Feb. 23, 2007, after the Surveillance Commission started
the investigation.  Fitch says that although the accounting
issue relates to evaluation losses in investments on the parent-
alone financial statements and does not affect the consolidated
accounts, any negative conclusion by the authority could
potentially affect the company's credibility and confidence in
its financial disclosure.  Sanyo Electic will likely complete
the necessary amendments to its past financial figures by the
end December 2007.  Fitch expects the Surveillance Commission's
conclusion on the matter to be made in succession.

On Nov. 27, 2007, Sanyo Electric announced its consolidated
financial results for the first half of the fiscal year ending
March 2008.  In addition, the company announced a new three-year
'Mid-term Management Plan', in which the company aims to achieve
over JPY100 billion in consolidated operating profit in FYE11 -
of which JPY90 billion is considered by the company as a "must
accomplish" goal.  In the first half of March 2008, its
operating performance improved considerably with increased
earnings at largely every level.  Due to the substantial amount
of positive free cash flow generated, the company was able to
further reduce its debt and accordingly, its balance sheet has
become healthier.  Going forward, Fitch expects the main
contributor to group earnings will continue to be devices
including rechargeable batteries and solar cells, where around
70% of its capital investments for the coming three years will
be made.  Meanwhile, the company has decided to keep its
consumer electronics operations including audio visual and white
goods, for which Fitch views their competitiveness against much
larger and stronger competitors as uncertain.

Sanyo Electric's total debt fell to JPY573.5 billion at the
first half of March 2008, JPY105.4 billion lower than the first
half of year 2007's amount and compares favourably with
JPY1,213.9 billion of debt at the end of Fiscal Year 2005.  The
company plans to reduce its consolidated debt to JPY530 billion
at the end of Fiscal Year 2008.  At the end of September 2007,
the company had JPY351.1 billion in cash and cash equivalents.
As part of its current restructuring plan to further improve its
financial profile, the company is also considering the
divestment of some divisions including its mobile handset
operations.

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.


SANYO ELECTRIC: Ties Up with Aeon to Develop Home Electronics
-------------------------------------------------------------
Sanyo Electric Co., Ltd., said it will jointly develop home
electronics to sell under Aeon Co.'s private brand to revive
its struggling business, Yuko Inoue writes for Reuters.

The report states that Aeon, under its "Top Value" brand, will
start selling Sanyo's refrigerators, rice cookers and other
home electronics at its 500 stores throughout the nation in
May.

Sanyo, which is in the midst of a turnaround process with the
help of shareholder Goldman Sachs, earlier said that it will be
focusing on its cash cow operations like rechargeable batteries
and lithium-ion batteries but will not withdraw from from its
home appliances business, relates Reuters.

Reuters quotes Sanyo Electric's president Seiichiro Sano as
saying, "We will strengthen ecology-friendly consumer
electronics by hearing the voice of Aeon's customers.  The
partnership with Aeon is a good opportunity for us."

In line with this, Aeon, according to the report, will install
Sanyo's eco-friendly products like display cases and air
conditioners.

The Troubled Company Reporter Asia-Pacific reported on
Nov. 29, 2007, that Sanyo reported a JPY16.0-billion net profit
for the six-month period ended September 30, 2007, of the
current fiscal year due to cost reductions and stronger sales in
the digital camera and components business.

In its three-year midterm business plan, Sanyo aims to achieve
a JPY100 billion operating profit by the year ending March 2010.

                     About Sanyo Electric

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                        *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.


SANYO ELECTRIC: To Make New Fuel Cell Company with Nippon Oil
-------------------------------------------------------------
Sanyo Electric Co., Ltd. and Nippon Oil Corporation have agreed
to create a new company for stationary fuel cell systems
planned for establishment in April 2008.

Sanyo and Nippon Oil, who have been partners in fuel cell
development for years, aim to enhance efforts to shorten the
development period, improve performance and reliability of the
systems, and reduce costs through optimal production
efficiency.

Kyodo News, in its report, states that the envisioned fuel
cells will involve producing electricity by making the oxygen
they take in from the atmosphere react chemically with hydrogen
extracted from kerosene or liquefied petroleum gas.

Fuel cells, Kyodo adds, have drawn close attention in industry
circles because the sole byproduct from oxygen-hydrogen
reactions is water and they do not emit carbon dioxide,
believed to be one of the leading causes of climate change.

Sanyo, will first establish and spin off a new company
dedicated to stationary fuel cell business and then Nippon Oil
will acquire 81% of the shares issued.

Kyodo News reports that Sanyo will start the fuel-cell
operations as an independent company on April 1.

The joint venture will develop, plan, system design and product
manage the fuel cell systems.  However, the production and
assembly will be consigned to Sanyo Tokyo Manufacturing Co.,
Ltd., then Nippon Oil will purchase the systems from the new
company and sell them to customers.

The name of the company has yet to be determined.

Senior Vice President of Sanyo, Company President of Clean
Energy Company, Tadao Shimada is quoted as saying, "Hereafter,
by combining the strengths of both companies, and increasing
the pace of a low-cost, highly reliable stationary fuel cell
system, home-use fuel cell systems will become commercialized
more quickly."

                     About Sanyo Electric

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                        *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.


SANYO ELECTRIC: Unveils 2008-2010 Midterm Business Plan
-------------------------------------------------------
Sanyo Electric Co., Ltd., announces a new "Mid-term Business
Strategy", in preparation for a new three-year 'Mid-term
Management Plan' which will be outlined in more detail at a
future date for the period of FY2008 to FY2010.

Sanyo, as outlined in its current 'Mid-term Management Plan'
implemented from FY2005 to FY2007, has been focusing on
structural transformation aimed at revitalizing and reforming
the company and, as a result, the fruits of these activities
are certainly beginning to show in earning power, financial
strength, etc.  Looking forward to the next three-year period,
Sanyo will be fully revitalized as it makes advances to
furthering its aim to become a truly global company, based on
the 'Master Plan.'

The 'Master Plan' is a summary of the future direction of the
Sanyo Group and includes:

   1) management goals set in the new 'Mid-term Management
      Plan';

   2) emphasized and concentrated investments based on
      Group-wide business strategy;

   3) improve earning power of the finished goods business and
      creating the necessary structure to strengthen business
      expansion overseas;

   4) maintain a sound financial structure through thorough
      cash flow management.

Based on the objectives outlined in the 'Master Plan', Sanyo
will create a new three-year 'Mid-term Management Plan'.  In
the new plan, each business will be converted into a profitable
business entity, enabling Sanyo to grow and progress as it
becomes a truly global company.

      Outline of the 'Master Plan' for FY2008-FY2010

Mid-term Management Policies

Establish the foundation for a highly profitable company
capable of regaining public trust and reputation while becoming
'a leading provider of Environment- and Energy-related
products'.

Goals of Mid-term Management

   1. Set a goal/challenge to achieve JPY100 billion or more
      in consolidated operating profit by the end of FY2010.
      Consolidated sales of JPY2,250 billion, consolidated
      operating profit of JPY90 billion (operating profit ratio
      of 4%);

   2. In 1,000 days (three years), convert each business into a
      profitable business entity.

Essential Business Strategies

   1. Business Grouping

      Sanyo will classify its group business fields into the
      following three categories according to the business
      direction and associated technology: 'Energy',
      'Electronics', and 'Ecology'.  These three business areas
      will become the engine for fulfilling the revitalization
      of Sanyo, and pave the way for the challenge of FY2010 to
      be the most profitable year in Sanyo's history.

   2. An image of Sanyo's overall business strategy is available
      at the company's Web site:

            http://ResearchArchives.com/t/s?25e5

   3. Individual Business Strategy

      Considering the company's customers, the marketplace, and
      various business models, etc. from an overall Group
      Management Strategy point of view, the company will divide
      its business fields into two groups: the 'Component
      Business Group' and the 'Finished Goods Business Group'.
      Business strategies applicable to either group will be
      implemented.

      Component Business Group

      Over three years, a facilities investment of JPY350
      billion will be conducted; however, approximately 70% of
      these investments will be concentrated on rechargeable
      batteries, solar, and electronic devices.

      Rechargeable battery business

      Implement an investment of an approximately JPY100
      billion over the next three years to expand lithium-ion
      battery production capacity and challenge the HEV market
      in earnest in the near future, aiming for further
      growth.

      Solar business

      Implement an investment total of approximately JPY80
      billion over the next three years, and increase
      production capacity by 2010 to 650 MW.

      Electronic device business

      Emphasize investments in top share products such as
      condensers, optical pickups, vibration motors (for
      mobile handsets), etc.

      Semiconductor business

      Through the fruits of structural transformation, it has
      been converted into a unit able to produce a positive
      operating profit; however, in order to hereafter create
      a stable revenue base, Sanyo will make use of its
      proprietary know-how in analog technology and the like
      to further streamline and improve operations.

      Finished Goods Business Group

      Sanyo will pursue the optimization of domestic
      businesses and strengthening overseas expansion to
      stabilize and secure profit.  As for strengthening
      overseas expansion and development, along with setting
      sales goals of Sanyo-branded finished goods, an
      executive-class staff member will be placed in each
      region overseas, enabling the global sales structure to
      be made more robust.

      Digital business

      Strengthen business-to-business operations (OEM, etc.)
      and other special client arrangements.

      Commercial business

      Along with increasing profitability by pursuing thorough
      optimization in the domestic market, resources will be
      shifted to focus on opportunities overseas to expand and
      grow the business.

      White goods/Home electronics business

      Along with strengthening product appeal based on Sanyo's
      unique technology such as those related to the
      environment, sales and distribution costs will be
      reevaluated, and through optimizing sales companies and
      sales networks overseas, the sales division will be able
      to act more effectively, raising profitability.

   4. Financial Strategy

      With the efforts made over the past three years to achieve
      financial stability, interest-bearing debt is expected to
      be reduced to JPY530 billion by March 2008, JPY720 billion
      down from the first half of FY2005.  Sanyo will enhance
      its efforts toward cash flow-focused management over the
      next three years.

                    About Sanyo Electric

Headquartered in Osaka, Japan, Sanyo Electric Co., Ltd. --
http://www.sanyo.com/-- is one of the world's leading
manufacturers of consumer electronics products.  The company has
global operations in Brazil, Germany, India, Ireland, Spain, the
United States and the United Kingdom, among others.

                        *     *     *

In March 2, 2007, Fitch Ratings placed SANYO Electric Co. Ltd.'s
BB+ long-term foreign and local currency issuer default and
senior unsecured ratings on rating watch negative.




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


BAMBOO SHIPHOLDING: Proofs of Claim Filing Ends on Dec. 14
----------------------------------------------------------
Bamboo Shipholding Corporation's creditors are given until
Dec. 14, 2007, to prove their claims to Kareem Robinson and
Giles Kerley, 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.

Bamboo Shipholding's shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Kareem Robinson
            Giles Kerley
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


BERNARD NATIONAL: Proofs of Claim Filing Is Until Dec. 14
---------------------------------------------------------
Bernard National Senior Funding, Ltd.'s creditors are given
until Dec. 14, 2007, to prove their claims to Hugh Thompson and
Emile Small, 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.

Bernard National's shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Hugh Thompson
            Emile Small
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


BLUE AND RED: Proofs of Claim Filing Deadline Is Dec. 14
--------------------------------------------------------
Blue And Red Corporation's creditors are given until
Dec. 14, 2007, to prove their claims to Joshua Grant and Richard
Gordon, 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.

Blue And Red's shareholder decided on Oct. 26, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Joshua Grant
            Richard Gordon
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


BRAZIL REPACKAGED: Proofs of Claim Filing Ends on Dec. 14
---------------------------------------------------------
Brazil Repackaged Bonds Limited's creditors are given until
Dec. 14, 2007, to prove their claims to Carlos Farjallah and
Giles Kerley, 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.

Brazil Repackaged's shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Carlos Farjallah
            Giles Kerley
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


CSFUND-THREE HOLDINGS: Proofs of Claim Filing Is Until Dec. 14
--------------------------------------------------------------
CSFUND-Three Holdings' creditors are given until Dec. 14, 2007,
to prove their claims to Carlos Farjallah and Emile Small, 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.

CSFUND-Three Holdings' shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Carlos Farjallah
            Emile Small
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


DUKE FUNDING: Proofs of Claim Filing Deadline Is Dec. 14
--------------------------------------------------------
Duke Funding I, Ltd.' creditors are given until Dec. 14, 2007,
to prove their claims to Steven O'Connor and Emile Small, 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.

Duke Funding's shareholders agreed on Nov. 1, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

            Steven O'Connor
            Emile Small
            Maples Finance Limited
            P.O. Box 109 3, George Town
            Grand Cayman, Cayman Islands


FLAGSHIP CLO: Proofs of Claim Filing Is Until Dec. 14
-----------------------------------------------------
Flagship CLO II's creditors are given until Dec. 14, 2007, to
prove their claims to Andrew Dean and Jan Neveril, 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.

Flagship CLO's shareholders agreed on Nov. 1, 2007, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

            Andrew Dean
            Jan Neveril
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


FORTIS HEDGE: Proofs of Claim Filing Deadline Is Dec. 14
--------------------------------------------------------
Fortis Hedge Global Fixed Income Master Limited's creditors are
given until Dec. 14, 2007, to prove their claims to Richard
Gordon and Joshua Grant, 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.

Fortis Hedge's shareholders agreed on Oct. 25, 2007, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Richard Gordon
            Joshua Grant
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


GEMINI SHIPFINANCE: Proofs of Claim Filing Is Until Dec. 14
-----------------------------------------------------------
Gemini Shipfinance Corporation's creditors are given until
Dec. 14, 2007, to prove their claims to Andrew Millar and Emile
Small, 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.

Gemini Shipfinance's shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Andrew Millar
            Emile Small
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


GEMINI SHIPHOLDING: Proofs of Claim Filing Deadline is Dec. 14
--------------------------------------------------------------
Gemini Shipholding Corporation's creditors are given until
Dec. 14, 2007, to prove their claims to Andrew Millar and Emile
Small, 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.

Gemini Shipholding's shareholders agreed on Nov. 1, 2007, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

            Andrew Millar
            Emile Small
            Maples Finance Limited
            P.O. Box 1093, George Town
            Grand Cayman, Cayman Islands


PARMALAT SPA: NY Court Gives No Decision on Class Action Appeal
---------------------------------------------------------------
Parmalat S.p.A. communicates that a hearing on Nov. 29, 2007, in
the United States Second Circuit Court of Appeal of New York,
with regards to its appeal against the decision of the
United States District Court, which had denied Parmalat's
request for an injunction pursuant to section 304 of the U.S.
Bankruptcy Code.

Parmalat's request had sought to preclude a purported class of
investors from proceeding with a class action against Parmalat
in the United States.

The Court of Appeal has not decided today and has taken the case
under advisement.

Headquartered 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
for bankruptcy protection, they reported more than $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.  On June 21, 2007, the U.S. Court Granted
Parmalat Permanent Injunction.




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


FRESH DEL MONTE: Names Elias Hebeka as Director on Board
--------------------------------------------------------
Fresh Del Monte Produce Inc.'s Board of Directors has appointed
Dr. Elias K. Hebeka to serve as a director to the company until
the 2008 Annual General Meeting of Shareholders when he will be
considered for election to the board by the company's
shareholders.  Dr. Hebeka's appointment increases the board to
nine members, five of whom are independent directors.  Dr.
Hebeka is currently serving as a consultant to several
organizations and companies, including The World Bank and
Callaway Golf.

Dr. Hebeka has previously held various senior executive
management and academia positions.  At Revlon Inc. he served as
President Worldwide Operations and Technical Affairs, Executive
Vice President, Operations Worldwide, and Executive Vice
President, Operations.  Prior to joining Revlon, Dr. Hebeka was
President and Chief Executive Officer of Liberty Science Center
and he held various management positions with Warner Lambert
Company for over 25 years.  Prior to his business career, Dr.
Hebeka served as a Professor at the University of Cairo. He
currently serves as a Vice Chair of the board of trustees with
The American University in Cairo.  Dr. Hebeka also serves on the
boards of two non-profit organizations.

Mohammad Abu-Ghazaleh, Fresh Del Monte's Chairman and Chief
Executive Officer, said, "Dr. Hebeka brings to Fresh Del Monte a
wealth of academia and business experience.  He has a tremendous
amount of international business knowledge and his extensive
familiarity and insight into emerging markets will be of great
value to Fresh Del Monte in achieving its global growth
strategy."

Based in the Cayman Islands, Fresh Del Monte Produce Inc. --
http://www.freshdelmonte.com/-- is one of the world's leading
vertically integrated producers, marketers and distributors of
high-quality fresh and fresh-cut fruit and vegetables, as well
as a leading producer and distributor of prepared fruit and
vegetables, juices, beverages, snacks and desserts in Europe,
the Middle East and Africa.  Fresh Del Monte markets its
products worldwide under the Del Monte(R) brand, a symbol of
product quality, freshness and reliability since 1892.

Del Monte Fresh Produce Company has operations in Chile, Brazil,
France, Philippines, and Korea.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 22, 2007, Standard & Poor's Ratings Services has affirmed
its 'BB-' corporate credit rating on Fresh Del Monte Produce
Inc., and removed the rating from CreditWatch, where it was
placed with positive implications on Nov. 1, 2007.  S&P said the
outlook is stable.


INGRAM MICRO: Reaffirms Guidance in Fourth Qtr. Ending Dec. 29
--------------------------------------------------------------
Ingram Micro Inc. has reaffirmed its guidance for the fourth
quarter ending Dec. 29, 2007, in advance of executive
presentations at upcoming investor conferences in December.

As originally reported on Oct. 25, 2007, sales are expected to
range from US$9.70 billion to US$9.95 billion, with net income
ranging from US$103 to US$108 million or US$0.58 to US$0.61 per
diluted share based on 178 million weighted average shares
outstanding and an effective tax rate of 27%.

This guidance excludes any potential gain that may be recognized
on the sale of the company's small semiconductor distribution
business, based primarily in Singapore, to TOMEN Electronics
Corporation.  The transaction, which was announced by TOMEN
Electronics on Nov. 22, 2007, is expected to close before the
end of the year.

"Despite widely reported concerns about the macro-economic
environment, we are comfortable with our guidance for the fourth
quarter," said Ingram Micro's chief executive officer, Gregory
M. Spierkel, "Sales are expected to hit another record for the
quarter and for the 2007 fiscal year, fueled by our success in
adjacent markets and geographic expansion."

The company's reaffirmation of guidance is in advance of these
investor events:

    -- Thursday, Dec. 6, 2007
       Lehman Brothers Global Technology Conference
       The Fairmont Hotel, San Francisco, California
       11:00 a.m. PT (2:00 p.m. ET)
       Presenter:  William D. Humes, executive vice president &
       Chief Financial Officer

    -- Wednesday, Dec. 12, 2007
       Raymond James 2007 Supply Chain Investor Conference
       The Waldorf Astoria, New York, New York
       12:00 p.m. ET
       Presenters:  Gregory M. Spierkel, CEO
       William D. Humes, executive vice president & CFO

Headquartered in Santa Ana, California, Ingram Micro Inc. (NYSE:
IM) -- http://www.ingrammicro.com/-- together with its
subsidiaries, distributes information technology products and
supply chain solutions worldwide.  Its IT products include
peripherals, networking, software, and systems.  The company has
Latin America operations in Brazil, Chile and Mexico.

                        *     *     *

Ingram Micro Inc. continues to carry Moody's Ba1 long-term
corporate family and probability-of-default ratings.


TECH DATA: Moody's Affirms Ratings, Shifts Outlook to Stable
------------------------------------------------------------
Moody's Investors Service has affirmed Tech Data Corporation's
existing ratings and changed the outlook to stable from
negative.  Moody's also assigned a speculative grade liquidity
rating of SGL-1.

The outlook revision to stable reflects Tech Data's more stable
European operations following the completion of its
restructuring, facility consolidation and cost savings program,
improved business execution, refocused marketing strategy that
has achieved disciplined pricing and favorable product/customer
mix, as well as better working capital management in the
European operations compared to last year.  The stable outlook
recognizes Tech Data's improved revenue growth and market share
gains, return to historic operating profit levels and margins in
the October 2007 quarter, enhanced credit protection measures,
improved financial leverage, strong liquidity position and
positive free cash flow generation on a trailing twelve month
basis. Moody's notes that gross and operating margins for the
nine-month period ended Oct. 31, 2007 witnessed steady
improvement compared to the comparable nine-month period in 2006
due to a mix shift to higher margin products, shrinking exposure
to the European retail segment while placing more emphasis on
the small, medium and large business (SMB) customer segment and
holding SG&A expense growth below revenue growth.

The Ba1 corporate family rating continues to reflect the
challenges to Tech Data's high volume, low margin business
model.  Importantly, the ratings incorporate significant vendor
concentration, limited pricing power, an intense competitive
environment and limited presence in faster-growth Asian markets.
Nonetheless, the ratings also consider the company's leading
position as one of the top four distributors of information
technology and computer-related products to the SMB customer
segment, a history of solid performance in the Americas region,
growth opportunities in Eastern Europe, minimal exposure to
consumer end markets, moderate leverage, improved working
capital efficiency and somewhat flexible business model that
generates solid levels of free cash flow during industry
downturns and recessionary episodes.

The SGL-1 rating recognizes the company's very good liquidity
and financial flexibility.  This is driven by Tech Data's US$526
million of cash, Moody's expectations for free cash flow
generation of at least US$100 million in fiscal 2009, plus
access to US$1.4 billion of external liquidity.  Over the next
twelve months, Moody's expects Tech Data to remain covenant
compliant with its unrated US$250 million senior unsecured
credit facility (matures 2012).

These ratings were affirmed:

  -- Corporate Family Rating -- Ba1

  -- Probability of Default Rating -- Ba1

  -- US$350 Million Convertible Senior Unsecured Notes due 2026
     -- Ba2 (LGD-6, 94%)

This rating was assigned:

  -- Speculative Grade Liquidity Rating -- SGL-1

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.




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


BRIGHTPOINT INC: Appoints Three Executive Officers
--------------------------------------------------
Brightpoint Inc., in connection with its ongoing integration
following its transaction with Dangaard Telecom, the duties and
responsibilities of certain executives are modified effective
immediately:

   -- Jac Currie has been appointed as the company's Chief
      Information Officer and will lead the company's global IT
      team.

   -- R. Bruce Thomlinson will continue in his role of
      President, Asia Pacific but will have his scope expanded
      to include the Middle East, Africa and India.

   -- David O'Connell has been appointed as Chief Financial
      Officer for Brightpoint Europe.

Prior to his appointment as CIO, Mr. Currie had been President
of Emerging Markets since January 2006.  From August 2002 to
December 2005, Mr. Currie was the chairman and chief executive
officer of Persequor Limited, a holding company for investments
in wireless telecommunications that the Company subsequently
acquired and which is now one of the Company's wholly owned
subsidiaries.  From January 1998 to August 2002, Mr. Currie
served as the managing director of Brightpoint Middle East FZE,
then one of the Company's wholly owned subsidiaries.  Mr. Currie
also serves on the board of directors of several of the
Company's subsidiaries.  Mr. Currie is a wireless industry
veteran, having been involved in the industry since 1988.  Prior
to joining Brightpoint, he was employed by Deutsche Telecom in
the Philippines.  He also worked with Millicom International
Cellular from 1988 to 1995, in various senior marketing and
management roles throughout Europe, Asia and Latin America.

Mr. Thomlinson has served the Company in various capacities,
most recently as President, Asia-Pacific.  Prior to the
integration with Dangaard, Mr. Thomlinson served as President,
International Operations from August 2005.   Previously, he
served as President of the Company's Asia-Pacific division from
October 1998 and as Managing Director of Brightpoint Australia
since October 1996, when Brightpoint acquired Hatadicorp Pty
Ltd.  Prior to that time, Mr. Thomlinson held the position of
Managing Director for Hatadicorp.  He has been engaged in the
wireless communications industry since 1989.

Prior to his appointment as CFO for Brightpoint Europe, Mr.
O'Connell served as Vice President Integration and Communication
since November 2006.  Prior to that, Mr. O'Connell served as
Vice President of Taxation, Global Credit and Risk Management
for Brightpoint since April of 2003.  From August of 1997 to
April of 2003 he was the company's Director of Taxation.  Prior
to joining the Company, Mr. O'Connell was Tax Manager for
Allison Engine Company (now Rolls-Royce) in Indianapolis,
Indiana.  Prior thereto, he held various tax positions with
Ernst & Young.

                      About Brightpoint

Headquartered in Plainfield, Indiana, Brightpoint, Inc. --
http://www.brightpoint.com/-- distributes wireless devices and
accessories, as well as provision of customized logistic
services to the wireless industry.  The company primarily
operates in Australia, Colombia, Finland, Germany, India, New
Zealand, Norway, the Philippines, the Slovak Republic, Sweden,
United Arab Emirates and the United States.  The company's
customers include mobile operators, mobile virtual network
operators, resellers, retailers and wireless equipment
manufacturers.  Brightpoint was incorporated in 1989 under the
name Wholesale Cellular USA, Inc. and changed its name to
Brightpoint Inc. in 1995.

                        *     *     *

On April 12, 2006, Standard & Poor's placed Brightpoint's long-
term local and foreign issuer credit ratings at BB- with a
stable outlook.


ECOPETROL: Eyes 3% Production Increase by 2011
----------------------------------------------
Colombian state-run oil firm Ecopetrol's head Javier Gutierrez
said at an energy conference in Medellin, Colombia, that the
company expects its output to increase 3% to 550,000 barrels per
day by 2011, Business News Americas reports.

BNamericas relates that Ecopetrol's 2007 output would total
402,000 barrels per day.

About 50% of the growth would come from within Colombia.  The
remaining 50% would be from Ecopetrol's expanding operations
abroad, BNamericas notes.

Ecopetrol would invest about US$3.7 billion next year and
US$12.5 billion through 2012, BNamericas states, citing Mr.
Gutierrez.

Ecopetrol is an integrated-oil company that is wholly owned by
the Colombian government.  The company's activities include
exploration for and production of crude oil and natural gas, as
well as refining, transportation, and marketing of crude oil,
natural gas and refined products.  Ecopetrol is Latin America's
fourth-largest integrated-oil concern.  Operations are organized
into Exploration & Production, Refining & Marketing,
Transportation, and International Commerce & Gas.  Ecopetrol
produced 385,000 barrels a day of oil and gas in 2006 and has
330,000 barrels a day of refining capacity, according to the
company's Web site.  In 2005 it produced about 60 percent of
Colombia's daily output.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 6, 2007, Fitch Ratings affirmed Ecopetrol S.A.'s foreign
and local currency issuer default ratings at 'BB+' and 'BBB-',
respectively.  Fitch said the outlook for all ratings is stable.


ECOPETROL: Claims New Bogota Stock Exchange Listing Impressive
--------------------------------------------------------------
Colombia's state-owned oil firm Ecopetrol's head Javier
Gutierrez told reporters that the firm's recent listing on the
Bogota stock exchange was "impressive."

As reported in the Troubled Company Reporter-Latin America on
Nov. 30, 2007, Ecopetrol's shares would resume trading on the
Bogota stock exchange after a series of suspensions in its first
two days on the market.  Ecopetrol's shares were suspended twice
in the first day of trading on Nov. 27, 2007, when their price
rose over 10% to COP1,540 and COP2,000 pesos.  The stock
exchange again stopped the trading of Ecopetrol on
Nov. 28, 2007, when the price rose over 10%.  Almost eight
million shares were traded on Nov. 28 for a total value of
COP16.1 billion.

The share price increase was due to strong demand, BNamericas
says, citing Mr. Gutierrez.  Ecopetrol received offers for more
shares than could be issued in the original round.  Another
factor for the rapid increase could be high oil prices.

According to BNamericas, Ecopetrol distributed COP5.7 trillion
by selling 10.1% of its shares.  The government allowed the firm
to sell up to 20%.

Mr. Gutierrez told BNamericas that share buyers wanted almost
COP7.1 billion of stock.

BNamericas relates that private citizens bought about 62% of the
shares offered, while pension funds purchased 37%.  About
525,741 offers were received to purchase shares.  Some 520,461
of the offers were authorized.

Mr. Gutierrez told BNamericas that Ecopetrol wants a listing on
a New York market for the end of 2008.

Meanwhile, Mr. Gutierrez commented to BNamericas, "As a publicly
traded company, we'll have better access to credit than ever
before."

Ecopetrol will be able to retain "human capital better,"
BNamericas states, citing Mr. Gutierrez.

Ecopetrol is an integrated-oil company that is wholly owned by
the Colombian government.  The company's activities include
exploration for and production of crude oil and natural gas, as
well as refining, transportation, and marketing of crude oil,
natural gas and refined products.  Ecopetrol is Latin America's
fourth-largest integrated-oil concern.  Operations are organized
into Exploration & Production, Refining & Marketing,
Transportation, and International Commerce & Gas.  Ecopetrol
produced 385,000 barrels a day of oil and gas in 2006 and has
330,000 barrels a day of refining capacity, according to the
company's Web site.  In 2005 it produced about 60 percent of
Colombia's daily output.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 6, 2007, Fitch Ratings affirmed Ecopetrol S.A.'s foreign
and local currency issuer default ratings at 'BB+' and 'BBB-',
respectively.  Fitch said the outlook for all ratings is stable.


SOLUTIA INC: Court Confirms Consensual Reorganization Plan
----------------------------------------------------------
The Hon. Prudence Carter Beatty of the U.S. Bankruptcy Court in
the Southern District of New York confirmed Solutia Inc.'s
consensual plan of reorganization at a hearing held
Nov. 29, 2007, in Manhattan.

Solutia anticipates that the Plan will become effective in the
late December or January timeframe.

The Plan was co-proposed by the Official Committee of Unsecured
Creditors, the Official Committee of Equity Security Holders,
and the Official Committee of Retirees in Solutia's bankruptcy
case.

On Oct. 31, 2007, Solutia received a fully underwritten
commitment for US$2,000,000,000 of exit financing from Citigroup
Global Markets Inc., Goldman Sachs Credit Partners L.P. and
Deutsche Bank Securities Inc., who would act as joint lead
arrangers and joint bookrunners for the exit facility.  Solutia
would use the loan to pay certain creditors upon its emergence
from Chapter 11 and for the ongoing operations of the company
after emergence.

The exit-financing package includes a US$400,000,000 senior
secured asset-based revolving credit facility, a
US$1,200,000,000 senior secured term loan facility, and a
US$400,000,000 senior unsecured bridge facility.

Solutia also has entered into an agreement with UBS Securities
LLC, Merrill Lynch & Co. Inc., a General Motors Corp. pension
fund, and hedge funds Highland Capital Management, Longacre Fund
Management and Southpaw Asset Management to backstop the
company's US$250,000,000 rights offering.  Solutia would use the
proceeds to fund its obligations for retiree benefits and
retained legacy liabilities.

Pursuant to the rights offering, eligible general unsecured
creditors, noteholders and equity holders, who exercise their
claim transfer rights, will have the opportunity to purchase
15,936,703 shares of new common stock of Reorganized Solutia, on
a pro rata basis, at an exercise price of around US$13.33, which
represents a 33.33% discount to the implied US$20 per share
value of the New Common Stock.  The investors would purchase all
unsubscribed shares.  The investors have the option to buy
2,812,359 shares of New Common Stock under a direct purchase
option.  Otherwise, the 2,812,359 shares would be added to the
Rights Offering pool.

"While this has been a long process, we have used our time in
Chapter 11 to truly transform and revitalize Solutia -- shaping
a strong portfolio of businesses, shedding US$1.3 billion in
liabilities, and growing the company by US$1 billion in sales
while more than doubling our earnings.  We will emerge from
Chapter 11 as a growing, vibrant company that is positioned for
success," said Jeffry N. Quinn, chairman, president and CEO of
Solutia.

"We are pleased to have gained confirmation of a plan of
reorganization that was supported by all of the major
constituents in our case and that provides for significant
creditor recoveries," Mr. Quinn added.

                      About Solutia Inc.

Based 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 Richard M. Cieri, Esq., Jonathan S.
Henes, Esq., and Michael A. Cohen, Esq., at Kirkland & Ellis
LLP, in New York, as lead bankruptcy counsel, and David A.
Warfield, Esq., and Laura Toledo, Esq., at Blackwell Sanders
LLP, in St. Louis Missouri, as special counsel.  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. The Official Committee of
Retirees of Solutia, Inc., et al., is represented by Daniel D.
Doyle, Esq., Nicholas A. Franke, Esq., and David M. Brown, Esq.,
at Spencer Fane Britt & Browne, LLP, in St. Louis, Missouri, and
Frank M. Young, Esq., Thomas E. Reynolds, Esq., R. Scott
Williams, Esq., at Haskell Slaughter Young & Rediker, LLC, in
Birmingham, Alabama.

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 Bankruptcy Court approved the Debtors'
amended Disclosure Statement on Oct. 19, 2007.




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


BANCO INTERCONTINENTAL: Defense Appealing Marcos Cocco's Case
-------------------------------------------------------------
The defense team would file in 20 days an appeal on the eight-
year sentence the National District First Collegiate Tribunal of
the Court of First Instance imposed on Banco Intercontinental
vice president Marcos Baez Cocco, Dominican Today reports,
Antonio Delgado, the attorney for Mr. Cocco.

Mr. Delgado told Dominican Today that the verdict on Mr. Cocco
is too severe.

Dominican Today relates that the National District First
Collegiate Tribunal of the Court of First Instance found Mr.
Cocco guilty of breaching the nation's monetary law and
irregular banking practices.

Mr. Cocco's legal representatives commented to Dominican Today,
"Since the beginning of this process we have accepted that our
client violated financial and monetary law, but not the law on
money laundering.  We deny that he is guilty of abuse of
confidence."

The court of appeal should lessen the sentences of Mr. Cocco and
former Banco Intercontinental head Ramon Baez Figueroa as
neither of them deserved the maximum sentence, Dominican Today
states, citing Mr. Delgado.

Meanwhile, Central bank attorney Francisco Benzan told Dominican
Today that he could not be satisfied with the verdicts against
Mr. Cocco and former Banco Intercontinental head Ramon Baez
Figueroa, claiming that the court tried to make it easy for
them.

Located in Dominican Republic, Banco Intercontinental aka
Baninter collapsed in 2003 as a result of a massive fraud and a
resulting deficit of US$2.2 billion.  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.  The resulting deficit was
equal to 12% to 15% of the country's national GDP.  It costs
Dominican taxpayers DOP55 billion and resulted to the country's
worst economic crisis.




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


DIGICEL GROUP: Inks Prepaid Phone Recharging Agreement with HSBC
----------------------------------------------------------------
Digicel said in a statement that it has signed a prepaid phone
recharging accord with UK banking group HSBC for the phone
company's clients in El Salvador.

HSBC's director of alternative channels Carlos Valenia said in a
statement that customers will be able to recharge at some 250
points of sale.  They can also recharge over the Internet.

About 200,000 people would use the service, Business News
Americas relates, citing Mr. Valenia.

Digicel Central America's marketing manager Sonia Villalta told
BNamericas that subscribers can recharge their prepaid cellular
phones at the Citi group's Banco Cuscatlan.  The HSBC pact would
be extended to Guatemala when Digicel launches operations in
that nation.

BNamericas notes that Digicel acquired a Central American
operator called Digicel in October 2006, which had licenses for
El Salvador and Guatemala.

Mr. Villalta told BNamericas that Digicel has deployed wireless
infrastructure in Guatemala but has not disclosed a launch date.
However, the firm hopes to launch its Guatemalan operations some
time next year.

Mr. Villalta commented to BNamericas, "We have a license for
Guatemala and we are working to get coverage.  The towers are up
-- before launching we ensure coverage is guaranteed and that we
have the towers and necessary infrastructure to give good
service."

Digicel has over 4.5 million Caribbean subscribers, BNamericas
says, citing Mr. Villata.  The company has not disclosed a
figure for El Salvador.  When the firm opens in a new country,
it projects to have some one million users in the first year of
operations and it has has only achieved its goal in Haiti so
far.

Digicel is currently bidding for licenses in Honduras and
Panama, BNamericas states.

Digicel Ltd. is a wireless services provider in the Caribbean
region founded in 2000, and controlled by Denis O'Brien.  The
company started operations in Jamaica in April 2001 and now
offers GSM mobile services in Caribbean countries including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Bermuda, Cayman, and Curacao among others.  Digicel finished
FY2005 with 1.722 million total subscribers -- 97% pre-paid --
estimated market share of 67% and revenues and EBITDA of US$478
million and US$155 million, respectively.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- Proposed US$1.4 billion senior subordinated notes
      due 2015 assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




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


BELL MICROPRODUCTS: Taps P. Cook as UK Commercial Sales Director
----------------------------------------------------------------
Bell Microproducts Inc. has appointed Paul Cook as director of
United Kingdom commercial sales.  Based out of the company's
Chessington office, Mr. Cook will take responsibility for the
company's UK e-tail, system builder, SMB and corporate sales
teams, and report to Bell Microproducts Europe president, Graeme
Watt.

Mr. Cook will be responsible for continuing Bell Microproducts'
initiative to build a robust sales organization capable of
injecting premium growth rates into its UK Commercial sales
channel.

"Paul and I have worked together on the same team in the past,
and I am excited to welcome him to Bell Microproducts," said Mr.
Watt.  "I have the utmost respect for his skills and experience
and am looking forward to working with him again.  Paul's
extremely strong relationships with key customers across the UK,
coupled with his proven strengths in creating an environment for
sales people to thrive and succeed, will make him a key player
on our team."

Mr. Cook has a long and impressive history in the UK Information
Technology industry, and most recently served as managing
director for Acer UK, where he helped build the organization
into the third largest notebook manufacturer in the UK.  Before
joining Acer, Mr. Cook held the position of managing director at
Westcoast, a leading national wholesale distributor, and prior
to that Mr. Cook was sales director for Computer 2000.

"I'm delighted to join such a driven, dynamic organization as
Bell Microproducts and to be returning to an industry that I
know and love," said Mr. Cook.  "I look forward to leveraging my
two and a half decades of experience to help firmly establish
Bell Microproducts as the value added distributor of choice for
the channel."

Mr. Cook attained an HND in business studies from Bromley
Technology College, and also trained as an accountant for the
Institute of Cost & Management Accountants.  He replaces
Alistair Brett.  Mr. Watt commented, "We wish to thank Alistair
for his work, energy and commitment during his two years with
Bell Microproducts, and wish him all the best."

                   About Bell Microproducts

Headquartered in San Jose, California, Bell Microproducts Inc.
(Nasdaq: BELM) -- http://www.bellmicro.com/-- is an
international, value-added distributor of high-tech products,
solutions and services, including storage systems, servers,
software, computer components and peripherals, as well as
maintenance and professional services.  Bell is a Fortune 1000
company that has operations in Argentina, Brazil, Chile and
Mexico.

                        *     *     *

The company has received waivers from its lenders into March
2008 relating to the filing of financial reports with the SEC
and the provision of audited financial reports.


ENTRAVISION COMMS: Inks US$24-Million Purchase Deal for WNUE-FM
---------------------------------------------------------------
Entravision Communications Corporation has entered into a
definitive agreement to acquire Spanish-language radio station
WNUE-FM serving the Orlando, Florida market from Mega
Communications for an aggregate purchase price of approximately
US$24 million.  The company will begin operating the station on
Dec. 1, 2007, pursuant to a local marketing agreement between
the two media companies.

Entravision currently owns and operates television station WVEN-
TV Channel 26, a Univision affiliate and operates television
station WOTF-TV Channel 43, a Telefutura affiliate, serving the
Orlando, Florida market.  With the addition of radio station
WNUE-FM, Orlando will become the company's 11th market in which
it owns both radio and television assets.

"We are very excited about further strengthening our Orlando
cluster and increasing our leadership position in this fast
growing market," said Entravision's Chairperson and Chief
Executive Officer, Walter F. Ulloa.  "Given our existing media
operations in Orlando, we are confident that we can operate
WNUE-FM more cost efficiently, while maximizing cross-promotion
opportunities for advertisers."

                  About Mega Communications

Mega Communications is a privately held broadcasting company
which owns and operates two successful radio properties serving
the Hispanic community in Tampa, Florida, WLCC-AM and WMGG-AM.

                      About Entravision

Headquartered in Santa Monica, California, Entravision
Communications Corporation (NYSE: EVC) --
http://www.entravision.com/-- is a diversified Spanish-language
media company utilizing a combination of television, radio and
outdoor operations to reach approximately 75% of Hispanic
consumers across the United States, as well as the border
markets of Mexico.  Entravision is the largest affiliate group
of both Univision television network and Univision's TeleFutura
network, with television stations in 20 of the nation's top 50
Hispanic markets in the United States.  Entravision owns and
operates one of the nation's largest groups of primarily
Spanish-language radio stations, consisting of 54 owned and
operated radio stations in 21 U.S. markets.  Entravision's
outdoor advertising operations consist of approximately 11,100
advertising faces located primarily in Los Angeles and New York.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Apr. 10, 2007, Standard & Poor's Ratings Services revised its
outlook on Entravision Communications Corp. to positive from
stable.  At the same time, Standard & Poor's affirmed its 'B+'
long-term corporate credit rating on the company.  The company
had US$497.8 million of total debt outstanding as of
Dec. 31, 2006.


KEY ENERGY: Closes US$400 Mil. Senior Credit Facility on Nov. 29
----------------------------------------------------------------
Key Energy Services, Inc. has closed a new US$400 million five-
year Senior Secured Revolving Credit Facility on Nov. 29, 2007.
The facility will be secured by substantially all of the
company's assets and will be available for acquisitions, share
repurchases, letters of credit and general corporate purposes.
The facility includes affirmative and negative covenants and
events of default typical for a facility of this type, as well
as total leverage and interest coverage covenants.  In addition,
the company will be allowed to repurchase its common stock;
however, share repurchases in excess of US$200 million can be
made only if the company's debt to capitalization ratio is below
50%.  The company anticipates that it will take a charge of up
to US$9.6 million in the December 2007 quarter, which is
associated with the acceleration of deferred debt issuance costs
due to termination of the company's prior credit facility and
term loan.

Bank of America Securities, LLC and Wells Fargo Bank, N.A.
served as Joint Lead Arrangers for the new credit facility.

Key Energy Services, Inc. (NYSE: KEG) is the world's largest
rig-based well service company.  The company provides oilfield
services including well servicing, pressure pumping, fishing and
rental tools, electric wireline and other oilfield services.
The company has operations in all major onshore oil and gas
producing regions of the continental United States and
internationally in Argentina and Mexico.

                        *     *     *

As reported in the Troubled Company Reporter on Nov. 7, 2007,
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating and stable outlook to well-servicing company Key
Energy Services Inc.  At the same time, S&P assigned a 'B'
rating to the company's proposed US$400 million senior notes due
2017.


NUANCE COMMUNICATIONS: Completes Viecore Acquisition
----------------------------------------------------
Nuance Communications Inc. has closed the acquisition of
Viecore, Inc., a consulting and systems integration firm
specializing in the deployment of contact center solutions for
large enterprises.

Viecore expands Nuance's professional services capabilities and
complements its existing partnerships, allowing the Company to
deliver end-to-end speech solutions and system integration for
speech-enabled customer care in key vertical markets including
financial services, telecommunications, healthcare, utilities
and government.  Viecore's consulting services, systems
integration experience and significant intellectual property
related to services delivery allows Nuance to further accelerate
the deployment of customer care solutions.

In connection with the acquisition of Viecore and in accordance
with NASDAQ Marketplace Rule 4350, Nuance will grant 613,363
shares of its common stock, in the form of stand-alone
restricted stock units, as an inducement that is material to 334
individuals entering into employment arrangements with Nuance.
The restricted stock units will be granted upon the approval of
the Compensation Committee of Nuance's Board of Directors.
577,600 of the restricted stock units vest over a four year
period, 11,921 of the restricted stock units vest over a 90-day
period, 11,921 of the restricted stock units vest over a one
year period and 11,921 of the restricted stock units vest over a
two year period.

                        About Viecore

Viecore is a leading consulting and systems integration firm
delivering end-to-end automated customer interaction solutions.
Since 1989, Viecore has been a trusted advisor to enterprise-
level corporations, providing leadership and guidance in
defining contact center strategies.  Its integration services
bring together CTI (computer telephony integration), IVR
(interactive voice response), speech, and web technologies-to
deliver comprehensive customer interaction management solutions
for a wide range of industry segments.  Its customer interaction
solutions are deployed in thousands of enterprises worldwide,
helping millions of callers every day, access information and
perform self-service transactions.

                About Nuance Communications

Based in Burlington, Massachusetts, Nuance Communications Inc.
(NASDAQ: NUAN), fka ScanSoft Inc., -- http://www.nuance.com/--
provides speech and imaging solutions for businesses and
consumers around the world.  Its technologies, applications and
services that help users interact with information, and create,
share and use documents.

The company has offices in Australia, Belgium, Japan, Korea,
Hong Kong, India, Mexico, and the United Kingdom, among others.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 9, 2007, Standard & Poor's Ratings Services affirmed its
'B+' corporate credit rating on Burlington, Massachusetts-based
Nuance Communications Inc. and assigned its 'B-' rating to
Nuance's proposed USUS$150 million senior unsecured convertible
notes due 2027.  Proceeds from the notes will be used to
partially fund the previously announced acquisition of Tegic
Communications Inc.  S&P said the outlook is positive.


RADIOSHACK CORP: Names P. Whitsett EVP, Gen. Merchandise Manager
----------------------------------------------------------------
RadioShack Corp. has appointed Peter Whitsett as Executive Vice
President - General Merchandise Manager.  He will report to
Chief Executive Officer, Julian Day.

Mr. Whitsett will be responsible for the development and
implementation of all merchandising strategies.  In this role he
will lead the merchandising, product development and allocation
functions.

Most recently Mr. Whitsett served as Senior Vice President,
Chief Merchant (Kmart Retail) at Sears Holdings Company.

                     About RadioShack Corp.

RadioShack Corporation (NYSE: RSH) -- http://radioshack.com/--
retails consumer electronics specialty products through almost
6,000 company-operated stores and dealer outlets in the United
States, over 100 RadioShack locations in Mexico and nearly 800
wireless phone kiosks.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 25, 2007, Fitch Ratings has downgraded these ratings for
RadioShack Corporation:

   -- Issuer Default Rating to 'BB' from 'BB+';
   -- Bank credit facility to 'BB' from 'BB+';
   -- Senior unsecured notes to 'BB' from 'BB+'.

Fitch affirmed the short-term IDR at 'B'.


RYERSON INC: Plans to Restructure Chicago Business by Late 2008
---------------------------------------------------------------
Ryerson Inc. has disclosed plans to restructure its Chicago
operations in a series of carefully phased moves by the end of
2008.  These moves bring the company closer to its customers
with improved service levels.

The companu will keep its corporate headquarters in the Chicago
area and would maintain at least 500 jobs in the Chicago area.

The transition of Ryerson's Chicago business to its other
locations would result in the phased reduction of its processing
and distribution operations in Chicago by the end of 2008.  The
company will work with the Mayor's Office of Workforce
Development to identify new opportunities for impacted
employees.

"We are taking these steps to enhance our long-term viability
and be a stronger corporate citizen in Chicago," said Ryerson
President and Chief Operating Officer, Steve Makarewicz.  "We
are confident that these moves will improve our customer service
levels and make us a more nimble competitor."

                     About Ryerson Inc.

Headquartered in Chicago, Illinois, Ryerson Inc. (NYSE: RYI)
-- http://www.ryerson.com/-- is a distributor and processor of
metals in North America.  The company services customers through
a network of service centers across the United States and in
Canada, Mexico, India, and China.

                        *     *     *

As reported in the Troubled Company Reporter on Sept. 28, 2007,
Standard & Poor's Ratings Services affirmed its ratings on
Ryerson Inc., including its 'B+' corporate credit rating.  S&P
removed all ratings from CreditWatch, where they had been placed
with negative implications on July 24, 2007, after the company
after it has agreed to be acquired by Platinum Equity for around
US$2 billion.


RYERSON INC: To Gradually Restructure Chicago Operations by 2008
----------------------------------------------------------------
Ryerson Inc. plans to restructure its Chicago operations in a
series of phased moves by the end of 2008.  Ryerson expects that
these moves will bring it closer to its customers with improved
service levels.

Ryerson will keep its corporate headquarters in the Chicago area
and would maintain at least 500 jobs in the Chicago area.

The transition of Ryerson's Chicago business to its other
locations would result in the phased reduction of its processing
and distribution operations in Chicago by the end of 2008.
Ryerson will work with the mayor's office of workforce
development to identify new opportunities for impacted
employees.

"We are taking these steps to enhance our long-term viability
and be a stronger corporate citizen in Chicago," said Steve
Makarewicz, president and chief operating officer of Ryerson.
"We are confident that these moves will improve our customer
service levels and make us a more nimble competitor."

                      About Ryerson Inc.

Headquartered in Chicago, Illinois, Ryerson Inc. (NYSE: RYI)
-- http://www.ryerson.com/-- is a distributor and processor of
metals in North America.  The company services customers through
a network of service centers across the United States and in
Canada, Mexico, India, and China.

As reported in the Troubled Company Reporter on Oct. 23, 2007,
The affiliates of Platinum Equity LLC completed their
acquisition of Ryerson Inc. in a transaction valued at
approximately US$2 billion.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Sept. 28, 2007, Standard & Poor's Ratings Services affirmed its
ratings on Ryerson Inc., including its 'B+' corporate credit
rating.  S&P removed all ratings from CreditWatch, where they
had been placed with negative implications on July 24, 2007,
after the company after it has agreed to be acquired by Platinum
Equity for around US$2 billion.


WARNER MUSIC: Sept. 30 Balance Sheet Upside-Down by US$36 Mil.
--------------------------------------------------------------
Warner Music Group Corp.'s consolidated balance sheet at
Sept. 30, 2007, showed US$4.57 billion in total assets and
US$4.61 billion in total liabilities, resulting in a US$36
million total shareholders' deficit.

The company's consolidated balance sheet at Sept. 30, 2007, also
showed strained liquidity with US$1.20 billion in total current
assets available to pay US$1.88 billion in total current
liabilities.

The company disclosed Thursday last week its full-year and
fourth-quarter financial results for the period ended
Sept. 30, 2007.

                   Fourth Quarter Results

Net income was US$5 million for the fourth quarter ended
Sept. 30, 2007.  Net income in the fourth quarter of 2006 was
US$12 million. As of Sept. 30, 2007, the company reported a cash
balance of US$333 million, total long-term debt of US$2.27
billion and net debt of US$1.94 billion.

Fourth-quarter results for fiscal year 2007 include US$9 million
in restructuring and implementation expenses related to the
company's realignment initiatives; and a US$12 million benefit
in Recorded Music from the final allocation of royalty payable
balances to artist accounts in connection with the settlement
with Bertelsmann AG regarding Napster.

In fiscal year 2006, the results for the fourth quarter included
a US$13 million benefit in Recorded Music related to the
settlement regarding Kazaa.

For the fourth quarter 2007, revenue grew 1.8% to US$869 million
from US$854 million in the prior-year quarter, and fell 1.5% on
a constant-currency basis.  This constant-currency decline was
driven by a challenging Recorded Music industry environment as
the shift in consumption patterns from physical sales to new
forms of digital music continues.  On a constant-currency basis,
revenue gains in the U.S. and flat European results were more
than offset by declines in the Latin America and Asia Pacific
regions. Domestic revenue increased 5.9% while international
revenue was down 2.5%, or 8.0% on a constant-currency basis.

Operating income for the quarter rose 7.6% to US$71 million from
US$66 million in the prior-year quarter and operating margin
improved 0.5 percentage points to 8.2%.  Operating income before
depreciation and amortization for the quarter increased 6.3% to
US$134 million from US$126 million in the prior-year quarter and
OIBDA margin expanded by 0.6 percentage points to 15.4%.  The
increase in OIBDA and OIBDA margins primarily reflects an
increase in higher-margin digital sales and a decrease in annual
bonus compensation.  These benefits were partially offset by the
decline in physical sales, resulting in fixed costs spread over
a smaller revenue base, increased product costs and the costs
associated with our realignment plan.

"As expected, this has been a challenging quarter, reflecting
the difficulties in any industry transformation of this scale.
But we remain confident for two primary reasons: continued
growth in the broader music market that our long-term strategy
targets, and the disciplined creative leadership shown by WMG to
expand our music business model," said Edgar Bronfman, Jr.,
Warner Music Group's chairman and chief executive officer.
"Despite the difficult global recorded music environment, we
outperformed the market again this quarter while continuing to
lay the foundation for future growth."

Michael Fleisher, Warner Music Group's executive vice president
and chief financial officer, added: "Even as we redefine our
role in the overall music industry, we maintain our focus on
financial discipline.  Our realignment initiatives announced in
May were completed on schedule and resulted in total
restructuring and implementation charges of US$63 million in
this fiscal year, better than the previously announced range of
US$65 million to US$80 million."

                    Fiscal 2007 Results

For the full year 2007, revenue fell 3.7% to US$3.38 billion
from US$3.52 billion last year, or fell 6.8% on a constant-
currency basis.  Total revenue in 2007 was split 49% domestic
and 51% international.  Domestic revenue declined 1.8% over the
prior year while international revenue dropped 5.8%, or 11.3% on
a constant-currency basis.  Total digital revenue rose 30% year-
on-year to US$460 million, was split 68% domestic and 32%
international and represented 13.6% of total revenue for the
fiscal year.  Recorded Music sales were challenged by fewer
high-volume sellers and a weaker physical sales backdrop, with
digital gains failing to compensate for physical declines as the
Recorded Music industry continues to be in transition.

The company's operating income of US$215 million decreased from
US$283 million in the last fiscal year and operating margin
contracted 1.6 percentage points to 6.4%.

OIBDA for the fiscal year amounted to US$461 million compared to
US$518 million last year and OIBDA margin contracted by 1.1
percentage points to 13.6%.  The decline in OIBDA margin
primarily reflects negative operating leverage from lower sales
on a similar fixed cost base that was particularly evident early
in the fiscal year, higher product costs and costs associated
with the company's realignment plan.  This was partially offset
by an increase in higher-margin digital sales, the benefit from
a legal settlement and a decrease in annual bonus compensation.

Net loss this fiscal year was US$21 million, compared to net
income of US$60 million for the 2006 fiscal year.

Results for the fiscal year 2007 includes US$63 million in
restructuring and implementation expenses related to the
company's realignment initiatives; a US$64 million benefit from
the settlement with Bertelsmann AG regarding Napster; and US$9
million in expenses incurred in connection with the previously
disclosed proposed acquisition of EMI Group plc.

In fiscal year 2006, results included a US$13 million benefit
for Recorded Music related to the settlement regarding Kazaa.

                          Liquidity

For the fiscal year 2007, net cash provided by operating
activities was US$302 million.  Free cash flow amounted to
US$22 million compared to free cash flow of US$172 million in
fiscal year 2006.  Unlevered after-tax cash flow was US$158
million, compared to US$313 million in fiscal year 2006.  Free
cash flow and unlevered after-tax cash flow for fiscal 2007
include the previously disclosed investments of US$110 million
in Front Line Management and US$65 million in Roadrunner as well
as US$63 million in restructuring-related charges and US$110
million in cash received from the settlement with Bertelsmann AG
regarding Napster.  Free Cash flow and unlevered after-tax cash
flow for fiscal 2006 included a previously disclosed investment
of US$63 million in Rykodisc.

Full-text copies of the company's consolidated financial
statements for the fiscal year ended Sept. 30, 2007, are
available for free at http://researcharchives.com/t/s?25e2

                   About Warner Music Group

Headquartered in New York, Warner Music Group Corp. (NYSE: WMG)
-- http://www.wmg.com/-- is a stand-alone music company which
is home to a collection of the best-known record labels in the
music industry including Asylum, Atlantic, Bad Boy, Cordless,
East West, Elektra, Lava, Nonesuch, Reprise, Rhino, Roadrunner,
Rykodisc, Sire, Warner Bros. and Word.  Warner Music
International, a leading company in national and international
repertoire, operates through numerous international affiliates
and licensees in more than 50 countries. Warner Music Group also
includes Warner/Chappell Music, one of the world's leading music
publishers, with a catalog of more than one million copyrights
worldwide.

                        *     *     *

As reported in the Troubled Company Reporter on Aug. 30, 2007,
Fitch Ratings affirmed Warner Music Group Corp.'s 'BB-' Issuer
Default Rating.  Fitch said the rating outlook is stable.




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


* PANAMA: World Bank Board Grants US$75 Million Financing
---------------------------------------------------------
The World Bank's Board of Directors has approved a US$75 million
loan for Panama to support the Government's public finance
management and reform program.  This is the first IBRD operation
in a proposed programmatic series of two Development Policy
Loans, which build upon the fiscal year 2007 Public Finance and
Institutional DPL.

"The operation will support selected elements of the Government
of Panama's Strategic Vision, helping the Government advance on
development indicators which it has set for itself," said
Jessica Poppele, Acting Country Director for Central America.

The actions supported by the First Competitiveness and Public
Financial Management Development Policy Loan series are expected
to enhance private sector competitiveness and public financial
management, with a view of improving public sector efficiency
and effectiveness in a fiscally sustainable fashion, thus
influencing the country's enabling environment for private
sector development.

The DPL series will also contribute to fiscal stabilization and
efficient spending by helping diversify external sources of
finance and obtain better financial terms.  As described in the
Government's Strategic Vision document, this DPL series focuses
on actions aimed at:

   * promoting broad-based growth through the enhancement of
     private sector competitiveness, by helping to reduce
     bureaucratic red tape, improving training policies, and
     increasing investments in innovation.

   * consolidating fiscal sustainability, transparency and
     efficiency through the modernization of public financial
     management systems for revenue, debt, fiscal reporting, and
     public procurement.

"This operation kicks-off the new Panama-World Bank Country
Partnership Strategy (CPS)," explained Frederic de Dinechin
Country Representative for Panama.  "The CPS includes a package
of activities that support various elements of the Government's
Strategic Vision which aims to promote broad-based economic
growth and establish modern public financial management systems
and institutions within the overall goal of reducing poverty and
inequality," he added.

The US$75 million fixed-spread loan is repayable in 18 years and
includes a two-year grace period.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Dec. 14, 2006, Fitch Ratings affirmed the Republic of Panama's
long-term foreign currency Issuer Default Rating of 'BB+'.
Fitch also affirmed the sovereign's long-term local currency IDR
of 'BB+', the short-term foreign currency IDR of 'B' and the
country ceiling of 'BBB+'.  Fitch said the rating outlook is
stable.




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


BURGER KING: Board Declares US$0.0625 Per Share Common Stock
------------------------------------------------------------
Burger King Holdings Inc.'s board of directors has declared a
quarterly dividend of US$0.0625 per share of common stock.  The
dividend is payable on Dec. 27, 2007 to shareholders of record
at the close of business on Dec. 11, 2007.

Headquartered in Miami, Florida, The Burger King --
http://www.burgerking.com/-- operates more than 11,000
restaurants in more than 60 countries and territories worldwide.
Approximately 90% of Burger King restaurants are owned and
operated by independent franchisees, many of them family owned
operations that have been in business for decades.  Burger King
Holdings Inc., the parent company, is private and independently
owned by an equity sponsor group comprised of Texas Pacific
Group, Bain Capital and Goldman Sachs Capital Partners.

Burger King Corp. operates restaurants in the Latin American,
Caribbean and Mexican Region.  The company's first international
restaurant opened in 1963 in Puerto Rico.  Since 1994, Burger
King has opened more than 300 restaurants in the Latin American
region, producing some of the strongest comparable store sales
growth for the brand around the world.  Burger King(R)
restaurants in Latin America serve approximately 1,600 customers
per day each, making them some of the highest volume restaurants
in the system.

                        *     *     *

As reported in the Troubled Company Reporter on Oct. 17, 2006,
in connection with Moody's Investors Service's implementation of
its new Probability-of-Default and Loss-Given-Default rating
methodology for the restaurant sector, the rating agency revised
its Corporate Family Rating for Burger King Corp. to Ba3 from
Ba2.

Additionally, Moody's held its Ba2 ratings on the Company's
US$150 million Senior Secured Revolver Due 2011 and US$250
million Senior Secured Term Loan A Due 2011.  Moody's assigned
those loan facilities an LGD3 rating suggesting lenders will
experience a 35% loss in the event of default.


SEARS HOLDINGS: Net Income Drops to US$2MM in Third Quarter 2007
----------------------------------------------------------------
Sears Holdings Corporation reported net income of US$2 million
for the third quarter ended Nov. 3, 2007, compared with net
income of US$196 million for the third quarter ended
Oct. 28, 2006.

The third quarter 2006 results included US$101 million in pre-
tax gains on total return swap investments outstanding during
that period.  The year-over-year decline in income is the result
of a US$223 million decline in gross margin, reflecting both
sales declines, well as an overall decline in our gross margin
rate for the quarter.

"We are very disappointed in our performance for the third
quarter," Aylwin Lewis, Sears Holdings' chief executive officer
and president, said.  "We cannot blame our results entirely on
the retail and macro-economic environments.  We have much on
which to improve and are working hard to do so."

"Nevertheless, the company continues to generate cash, and we
continue to invest in our customer relationships, our multi-
channel experience, and our information technology systems," Mr.
Lewis continued.  "Importantly, we believe that our stores and
websites are ready to serve our customers and provide them more
reasons to shop with us."

The company's operating income for the quarter decreased
US$230 million to US$46 million in fiscal 2007, as compared to
US$276 million in the third quarter of fiscal 2006, due to lower
gross margin generated at both Kmart and Sears Domestic.

For the quarter, the company generated US$3.2 billion in total
gross margin as compared to US$3.4 billion in the third quarter
last year.  The US$0.2 billion decline was made up of separate
US$0.1 billion declines at both Kmart and Sears Domestic.

The company's gross margin rate decreased by approximately
90 basis points to 27.4% and was impacted by incremental
markdowns taken to clear seasonal merchandise and higher
inventory levels due to lower sales.  Given that the company
does not expect any significant near-term improvement in the
overall retail environment, the company believes that its sales
and gross margin for the balance of fiscal 2007 will likely
continue to be pressured by the above-noted unfavorable economic
factors.

                     Financial Position

The company has cash and cash equivalents of US$1.5 billion at
Nov. 3, 2007, as compared to US$2.1 billion at Oct. 28, 2006,
and US$4.0 billion at Feb. 3, 2007.

During the third quarter, cash and cash equivalents declined
US$1.1 billion from the US$2.6 billion balance at the end of the
second quarter.

The US$1.1 billion net decline in cash and cash equivalents for
the quarter primarily reflects US$0.9 billion used for share
repurchases and US$0.9 billion used to build inventories for the
holiday selling season, partially offset by US$0.6 billion of
cash generated through short-term borrowings.

The US$0.6 billion in short-term borrowings under our five-year
revolving credit facility has been repaid as of Nov. 27, 2007.

                     Share Repurchase

The company repurchased 6.7 million common shares at a total
cost of US$0.9 billion under its share repurchase program during
the third quarter of fiscal 2007.  On Aug. 13, 2007, the
company's board of directors approved the repurchase of up to an
additional US$1.5 billion of its common shares.

The share repurchases may be implemented using a variety of
methods, which may include open market purchases, privately
negotiated transactions, block trades, accelerated share
repurchase transactions, the purchase of call options, the sale
of put options or otherwise, or by any combination of such
methods.

Timing will be dependent on prevailing market conditions,
alternative uses of capital and other factors.  As of
Nov. 27, 2007, the company has remaining authorization to
repurchase US$736 million of common shares under the share
repurchase program.

At Nov. 3, 2007, the company's balance sheet showed total assets
of US$29.6 million, total liabilities of US$18.9 million and
total shareholders' equity of US$10,714.

               About Sears Holdings Corporation

Based in Hoffman Estates, Illinois, Sears Holdings Corporation
(NASDAQ: SHLD) - http://www.searsholdings.com/-- parent of
Kmart and Sears, Roebuck and Co., is a broadline retailer with
approximately 3,800 full-line and specialty retail stores in the
United States, Canada and Puerto Rico.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 12, 2007, Fitch Ratings affirmed its ratings of Sears
Holdings Corporation as:

Sears Holdings Corporation

    -- Issuer Default Rating at 'BB';
    -- Senior Notes at 'BB';
    -- Secured Bank Facility at 'BBB-'.

Sears, Roebuck and Co.

    -- IDR at 'BB';
    -- Senior Notes at 'BB'.

Sears Roebuck Acceptance Corp.

    -- IDR at 'BB';
    -- Senior Notes at 'BB';
    -- Commercial Paper at 'B'.

Sears DC Corp.

    -- IDR at 'BB'
    -- Senior Notes at 'BB'.

Fitch said the rating outlook is stable.

Moody's Investor Service placed Sears Holdings Corporation's
probability of default rating at 'Ba1' in September 2006.  The
rating still hold to date with a stable outlook.


WESCO INT'L: Moody's Affirms Corporate Family Rating at Ba3
-----------------------------------------------------------
Moody's has affirmed the ratings of Wesco International, Inc.
and changed the outlook to stable from positive.  Specifically,
Moody's affirmed the B1 ratings on both the guaranteed senior
convertible debentures due 2025 and Wesco Distribution, Inc.'s
guaranteed senior subordinated notes due 2017.  Moody's also
affirmed the company's Ba3 corporate family rating.  The change
in outlook to stable from positive primarily reflects Moody's
expectation that operating performance will see modest growth
over the next several quarters and excess free cash flow will
most likely be used to maintain the company's current leverage
profile as Wesco executes on its recently authorized US$400
million stock repurchase program.  Thus far, in 2007, Wesco has
already purchased 6.4 million shares of stock, completing the
US$400 million program authorized in February 2007.

Moody's views the culmination of certain end market softness,
recent debt financed acquisitions, and two sizeable share
repurchase programs as negating factors for upward ratings
momentum at this time.  As of Sept. 30, 2007, Wesco's leverage
ratio was approximately 3.4 after adjusting for operating
leases.  Moody's anticipated that leverage would be at or below
3.0 on an adjusted basis by year-end, however debt has actually
increased since the fourth quarter of 2006.  Moody's believes
the Ba3 corporate family rating is still appropriate at this
time as management maintains its current leverage profile during
an anticipated economic slowdown in 2008.  The ratings are
supported by Wesco's strong geographic reach, product breadth,
and customer base with 400+ branches and seven distribution
centers primarily located in North America.  The company also
benefits from strong free cash flow generation during weak end
market activity, an adequate liquidity profile, a proven ability
to contain costs, and stable gross margins.

Wesco's last rating action occurred on June 12, 2006.  Moody's
affirmed the ratings of Wesco and changed its outlook to
positive from stable based on its improved operating performance
and declining debt.  Due to Wesco's operating environment and
expected debt reduction efforts at that time, Moody's believed
adjusted leverage would moderate towards 3.0 and retained cash
flow to total adjusted debt would surpass 20% over the
intermediate period.  However, Wesco has not met these targets
and Moody's believes the company will not significantly reduce
debt over the intermediate period.

If the company maintains its aggressive financial policies
during a period of further end market weakness, the ratings
could be lowered.  At the same time, if organic growth does not
slow as expected and Wesco shows improvement in operating
performance and reduces debt to generate credit metrics
previously mentioned, an upgrade would be warranted.

Ratings Affirmed:

Wesco International, Inc.

  -- Corporate Family rating rated Ba3

  -- Guaranteed convertible senior debentures, due 2025, rated
     B1, LGD4, 69%

Wesco Distribution, Inc.

  -- Guaranteed senior subordinated notes, due 2017, rated B1,
     LGD4, 69%

The outlook is stable.

Headquartered in Pittsburgh, Pennsylvania, Wesco International,
Inc., is a publicly traded Fortune 500 holding company, whose
primary operating entity is Wesco Distribution, Inc.  Wesco
Distribution is a distributor of electrical construction
products and electrical and industrial maintenance, repair and
operating supplies, and is the nation's largest provider of
integrated supply services.  Wesco operates eight fully
automated distribution centers and approximately 370 full-
service branches in North America and selected international
markets including Mexico and Puerto Rico, providing a local
presence for area customers and a global network to serve multi-
location businesses and multi-national corporations.




===============
S U R I N A M E
===============


DIGICEL LTD: Opens New Facility in Suriname
-------------------------------------------
Digicel Ltd. has launched its 23rd operation in the South
American nation of Suriname -- heralding the end of a 25 year
telecommunications monopoly.

Digicel has made an initial investment of US$60 million in
building a state of the art network that offers coverage to many
Surinamese communities for the first time ever.  The Caribbean
company is also the first operator to offer a contiguous service
across the South American countries of Suriname, French Guiana
and Guyana.  With a population of close to 500,000 the
Suriname's mobile penetration is estimated at just over 55%.

Digicel Suriname is introducing a number of first to market
services and high value offerings such as prepaid and postpaid
roaming, rollover minutes, free activation, free voicemail as
well as free credit with every prepaid account purchase.  The
widest range of handsets for all pockets have also been
introduced including for the first time ever BlackBerry and
Digicel's own exclusive range of Coral phones starting from as
low as SRD 70 (US$25).

His Excellency Mr Ronald Venetiaan, President of the Republic of
Suriname, welcomed Digicel to Suriname adding: "We are heralding
a positive new era in telecommunications development in Suriname
and I'm delighted that Digicel has come to Suriname to be a part
of this change.  We are confident that the company will have a
positive impact on the lives of the people of Suriname as well
as encourage further growth in our economy."

To date Digicel employs close to 150 Surinamese staff and it is
estimated that an additional 1,000 jobs have been created
through its local dealerships and partners.  Digicel Suriname
has opened 28stores and 5000 recharge locations and is headed by
Philip van Dalsen, who brings more thansevenyears international
experience in mobile and fixed telecommunications management.

"Reaching our 23rd market is a significant milestone for us and
I want to welcome Suriname to the Digicel family" said Digicel
Group Chief Executive Officer Mr. Colm Delves.  "This is going
to be a very exciting market for us and bodes well for our
growth strategy ahead as we continue to build our customer base
and roll out network in the Caribbean and beyond.  We are proud
to offer the best coverage, the best quality and the best value
to the people of Suriname."

Digicel's investment in the Caribbean and the Central American
region exceeds US$1.5 billion. In  2006 the company recorded a
milestone of subscriber growth in excess of 100%, currently has
more than 5.7 million customers and directly employs a total of
3,500 people.

Digicel Ltd. is a wireless services provider in the Caribbean
region founded in 2000, and controlled by Denis O'Brien.  The
company started operations in Jamaica in April 2001 and now
offers GSM mobile services in Caribbean countries including
Jamaica, St. Lucia, St. Vincent, Aruba, Grenada, Barbados,
Bermuda, Cayman, and Curacao among others.  Digicel finished
FY2005 with 1.722 million total subscribers -- 97% pre-paid --
estimated market share of 67% and revenues and EBITDA of US$478
million and US$155 million, respectively.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2007, Fitch Ratings took these rating actions for
Digicel Group Ltd., Digicel Ltd. and Digicel International
Finance Ltd.:

Digicel Group Ltd.

   -- Proposed US$1.4 billion senior subordinated notes
      due 2015 assigned 'CCC+/RR5'

Digicel Ltd.

   -- Foreign currency Issuer Default Rating downgraded
      to 'B-' from 'B'; and

   -- US$450 million senior notes due 2012 downgraded
      to 'B-/RR4' from'B/RR4'.

Digicel International Finance Ltd.

   --US$850 million senior secured credit facility
     assigned 'B/RR3'.

Fitch said the outlook on all ratings is stable.




=================
V E N E Z U E L A
=================


CHRYSLER LLC: Likely to Lose US$1 Bil. in 2007, Sales Exec. Says
----------------------------------------------------------------
Steve Landry, Chrysler LLC's executive vice president of North
American sales, revealed that the company expects to lose
US$1 billion this year in costs, according to Andrea MacDonald
of The Daily News.

Mr. Landry, the paper reports, told marketing and business
students of Saint Mary's University in Halifax, Nova Scotia,
that Chrysler's 2007 revenue is expected at US$64 billion and
costs at around US$65 billion.

The Daily News relates that Mr. Landry recounted Chrysler's
business aim to recover costs next year and to yield a huge
profit in 2009 and 2010, slashing about 8 models from its
lineup.  Mr. Landry adds that Chrysler has plans to launch a
Chrysler Aspen-Dodge Durango hybrid to entice environment-
concerned customers.

The top sales executive came to the Halifax university to donate
US$100,000 for two yearly scholarships from Chrysler Canada,
according to The Daily News.

Headquartered in Auburn Hills, Michigan, Chrysler LLC --
http://www.chrysler.com/-- a unit of Cerberus Capital
Management LP, produces Chrysler, Jeep(R), Dodge and Mopar(R)
brand vehicles and products.  The company has dealers worldwide,
including Canada, Mexico, U.S., Germany, France, U.K.,
Argentina, Brazil, Venezuela, China, Japan and Australia.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 13, 2007, Standard & Poor's Ratings Services affirmed its
'B' corporate credit rating on Chrysler LLC and DaimlerChrysler
Financial Services Americas LLC and removed it from CreditWatch
with positive implications, where it was placed Sept. 26, 2007.
The outlook is negative.


PEABODY ENERGY: Names Director of International Gov't Relations
---------------------------------------------------------------
L. Cartan Sumner, Jr. has been named to the new position of
Director of International Government Relations for Peabody
Energy Corp.  Mr. Sumner will be responsible for working with
governments to create a policy friendly framework for the
greater use of coal to meet growing global energy needs.  He
will report to Senior Vice President of Government Relations
Fredrick D. Palmer.

Coal has been the world's fastest-growing fuel the past five
years.  Coal use is expected to increase nearly 75 percent over
the next 25 years, driven by huge growth in China and India.
Peabody Energy is increasing its commercial presence to serve
Asia markets through its Australia growth platform and expanded
coal trading, coal marketing and business partnerships.

Mr. Sumner previously served as Director of Corporate
Development, participating in Peabody Energy's recent
international expansion efforts.  Prior to joining the company,
he held corporate development positions with RPM, Inc., a
specialty chemicals holding company based near Cleveland, Ohio,
and its St. Louis-based subsidiary Carboline Company.  He also
was an attorney in private practice in St. Louis.

Mr. Sumner has a Bachelor of Arts from Vanderbilt University in
Nashville, Tennessee, a Master of Business Administration from
the John M. Olin School of Business at Washington University in
St. Louis, and a Juris Doctorate from the Washington University
School of Law.  Mr. Sumner is a member of the Missouri Bar and
the Illinois State Bar Association, and he is admitted to
practice before the United States Supreme Court.

                        About Peabody

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
(NYSE: BTU) -- http://www.peabodyenergy.com/-- is the world's
largest private-sector coal company, with 2005 sales of 240
million tons of coal and US$4.6 billion in revenues.  Its coal
products fuel 10% of all U.S. and 3% of worldwide electricity.
The company has coal operations in Australia and Venezuela.

                        *      *      *

As reported in the Troubled Company Reporter-Latin America on
Nov. 15, 2007, Fitch has affirmed these ratings for Peabody
Energy Corporation's:

  -- Issuer Default Rating at 'BB+';

  -- Senior unsecured notes at 'BB+';

  -- Senior unsecured revolving credit and term loan at 'BB+';

  -- Convertible junior subordinated debentures due 2066 at
    'BB-'.

Fitch's outlook is stable.


PETROLEOS DE VENEZUELA: Commences Tender Offer for Cerro Bonds
--------------------------------------------------------------
Petroleos de Venezuela S.A. has commenced, on Nov. 29, 2007, a
cash tender offer for any and all of the outstanding:

   -- 7.33% bonds due 2009 (CUSIP Nos. 156877AA0/G2025MAA9;
      ISIN No. USG2025MAA92),

   -- 7.90% bonds due 2020 (CUSIP Nos. 156877AB8/G2025MAB7;
      ISIN No. USG2025MAB75) and

   -- 8.03% bonds due 2028 (CUSIP Nos. 156877AC6/G2025MAC5;
      ISIN No. USG2025MAC58) issued by Cerro Negro Finance, Ltd.
      in connection with the Cerro Negro extra-heavy crude oil
      project in the Orinoco Belt region.

There are currently outstanding approximately US$82.0 million,
US$350.0 million and US$50.0 million in aggregate principal
amount of the 2009 Bonds, the 2020 Bonds and the 2028 Bonds,
respectively.  The tender offer will expire at midnight, New
York City time, on Dec. 27, 2007, unless extended or terminated
by PDVSA.

In conjunction with the tender offer, PDVSA is soliciting
consents of the holders of the Bonds to certain proposed
amendments and waivers to:

    (i) eliminate substantially all of the restrictive covenants
        and events of default in the indenture pursuant to which
        the Bonds were issued and the common security agreement
        and other financing documents related to the Bonds
        (other than arising from payment defaults and failure to
        comply with provisions of the indenture as amended or
        the Bonds),

   (ii) release all of the collateral and security interests
        securing the Bonds,

  (iii) eliminate certain other covenants in the common security
        agreement and the other financing documents,

   (iv) terminate the common security agreement and other
        financing documents,

    (v) waive any and all prior and existing defaults under the
        indenture, the common security agreement and the other
        financing documents, and

   (vi) rescind any prior or existing notices of default
        delivered pursuant to the indenture and the common
        security agreement.

The consent of holders of Bonds representing more than 75% in
aggregate principal amount of all outstanding Bonds will be
sufficient to approve all of the Proposed Amendments.  PDVSA has
reserved the right to amend, extend or terminate the tender
offer and consent solicitation at any time.

The tender offer and consent solicitation are being made
pursuant to an Offer to Purchase and Consent Solicitation
Statement, dated Nov. 29, 2007 and related Consent and Letter of
Transmittal.  As described in more detail in the Offer to
Purchase, the purchase price per US$1,000 principal amount of
Bonds validly tendered and accepted for purchase by PDVSA will
be par plus a premium calculated two business days prior to the
payment date based upon:

    (i) for the 2009 Bonds, a fixed spread of 30 basis points
        over the yield of the 4.75% U.S. Treasury Note due
        Feb. 28, 2009,

   (ii) for the 2020 Bonds, a fixed spread of 50 basis points
        over the yield on the 4.25% U.S. Treasury Note due
        Nov. 15, 2017 (or if there is an issuance of a 10-year
        U.S. Treasury security after Nov. 29, 2007, based upon
        the yield of such security) and

  (iii) for the 2028 Bonds, a fixed spread of 50 basis points
        over the yield on the 5.00% U.S. Treasury Note due
        May 15, 2037, together with any accrued but unpaid
        interest up to but not including the payment date for
        the Bonds (or if there is an issuance of a 30-year U.S.
        Treasury security after Nov. 29, 2007, based upon the
        yield of such security).

The premium is approximately equivalent to 33% of the redemption
premium that would be payable on Bonds of each Series under the
indenture pursuant to which the Bonds were issued if such Bonds
were to be redeemed.  Holders must validly tender their Bonds on
or before the Expiration Date in order to be eligible to receive
the applicable purchase price.

Consummation of the tender offer and consent solicitation, and
payment of the tender offer consideration, are subject to the
satisfaction or waiver of various conditions, as described in
the Offer to Purchase, including:

    (i) the tender of Bonds representing not less than 75% in
        aggregate principal amount of all outstanding Bonds and
        the delivery of the related consents in the tender offer
        and consent solicitation and

   (ii) the compliance by certain holders of Bonds with their
        obligations under a lock-up agreement with PDVSA
        pursuant to which they have made a commitment to tender
        their Bonds and deliver consents in the tender offer and
        consent solicitation, subject to their right to
        terminate the agreement in the event of the failure of
        certain conditions or of a material breach by PDVSA.

Such holders have indicated that they own (or represent the
owners of) approximately 79% of all outstanding Bonds.  Subject
to the rights of the holders under the lock-up agreement, PDVSA
has reserved the right to amend, extend or terminate the tender
offer and consent solicitation at any time on the terms and
conditions specified in the Offer to Purchase.

Lazard Freres & Co. LLC is the Dealer Manager and Solicitation
Agent for the tender offer and consent solicitation and may be
contacted at (312) 407-6674 (call collect).  Requests for
documents may be directed to Global Bondholder Services
Corporation, the Information Agent, at (212) 430-3774 (call
collect) or (866) 470-3700 (toll free).

PDVSA expects to finance the purchase of Bonds pursuant to the
tender offer with funds from internal sources.

                About Petroleos de Venezuela

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 USUS$2 billion notes due
2017, USUS$2 billion notes due 2027, and USUS$1 billion notes
due 2037.

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, USUS$2 billion notes due 2027, and US$1 billion notes due
2037.


* VENEZUELA: Constitutional Reforms Won't Affect Debt Payment
-------------------------------------------------------------
The Venezuelan people have voted Dec. 2 whether to allow
significant changes in the country's constitution.

One of the 69 changes contemplated is allowing President Hugo
Chavez to take over control of the Central Bank.  In relation to
this, Finance Minister Rodrigo Cabezas assured investors that
the country will continue paying its foreign debts even if the
changes will be approved, Bloomberg News reports.

Former planning minister Teodoro Petkoff, a critic of the
changes, told Bloomberg that if the bank's autonomy will end, it
will mean giving license to President Chavez to keep using
international reserves causing problems in the servicing of the
country's US$26 billion foreign debt.

Minister Cabezas asserts that the funds set aside for paying
foreign debts won't be touched, the same report adds.  The
government wanted control of the central bank to dictate how
excess reserves will be used.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 15, 2007, Fitch Ratings assigned these ratings to the
Bolivarian Republic of Venezuela's bonds under the 'El
Venezolano I' combined offer:

-- US$750 million 30-year Eurobond, 7% coupon 'BB-';
-- VEB806.250 billion 7-year variable coupon bond 'BB-';
-- VEB806.250 billion 8-year, variable coupon bond 'BB-'.


* Large Companies with Insolvent Balance Sheets
-----------------------------------------------

                                   Total
                               Shareholders  Total
                                   Equity    Assets
Company                 Ticker      (US$MM)   (US$MM)
-------                 ------  ------------  -------
Arthur Lange             ARLA3     (20.56)      53.30
Kuala                    ARTE3     (33.57)      11.86
Bombril                  BOBR3    (472.88)     413.81
Caf Brasilia             CAFE3    (845.35)      43.51
Chiarelli SA             CCHI3     (63.93)      50.64
Ceper-Inv                CEP        (7.77)     120.08
Ceper-B                  CEP/B      (7.77)     120.08
CIC                      CIC    (1,883.69)  22,312.12
Telefonica Hldg          CITI   (1,481.31)     307.89
Telefonica Hldg          CITI5  (1,481.31)     307.89
SOC Comercial PL         COME     (793.61)     439.83
Marambaia                CTPC3      (1.38)      79.73
DTCOM-DIR To Co          DTCY3     (10.12)      10.44
Aco Altona               ESTR      (53.41)     105.08
Estrela SA               ESTR3     (51.21)     103.60
Bombril Holding          FPXE3  (1,064.31)      41.97
Fabrica Renaux           FTRX3      (5.55)     136.60
Gazola                   GAZ03     (43.13)      22.28
Hercules                 HETA3    (240.65)      37.34
Doc Imbituba             IMB13     (20.29)     202.35
IMPSAT Fiber Networks    IMPTQ     (17.16)     535.01
Kepler Weber             KEPL3    (199.10)     286.23
Minupar                  MNPR3     (39.46)     154.47
Nova America SA          NOVA3    (291.00)      40.77
Recrusul                 RCSL3     (59.33)      25.19
Telebras-CM RCPT         RCTB30   (149.58)     236.49
Rimet                    REEM3    (219.34)      93.47
Schlosser                SCL03     (69.35)      50.29
Semp Toshiba SA          SEMP3      (4.68)     153.68
Tecel S Jose             SJ0S3     (13.24)      71.56
Sansuy                   SNSY3     (53.26)     200.16
Teka                     TEKA3    (310.91)     545.92
Telebras SA              TELB3    (149.58)     236.49
Telebras-CM RCPT         TELE31   (149.58)     236.49
Telebras SA              TLBRON   (148.58)     236.49
TECTOY                   TOYB3     (49.81)      17.25
TEC TOY SA-PREF          TOYB5     (49.81)      17.25
TEC TOY SA-PF B          TOYB6     (49.81)      17.25
TECTOY SA                TOYBON    (49.81)      17.25
Texteis Renaux           TXRX3     (95.25)      76.52
Varig SA                 VAGV3  (8,194.58)   2,169.10
FER C Atlant             VSPT3    (104.65)   1,975.79
Wiest                    WISA3    (107.73)      92.66


                        ***********


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, and Pamella Ritah K. Jala, Editors.

Copyright 2007.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are US$25 each.  For
subscription information, contact Christopher Beard at
240/629-3300.


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