TCRLA_Public/080829.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

                       L A T I N  A M E R I C A

              Friday, August 29, 2008, Vol. 9, No. 172

                             Headlines

A R G E N T I N A

DELTA AIR: Obtains US$1 Billion Loan Prior to Northwest Merger
DELTA AIR: NWA Cancels Worldwide Pact, Uses Delta Global Services
DELTA AIR: Resolves US$9MM Hillsborough Aviation Authority Claim
DELTA AIR: Abett & Co. Discloses 10.10% Stake
DIDONAZ SA: Trustee Verifies Proofs of Claim Until November 20

EMPRESA DISTRIBUIDORA: S&P Affirms Corporate Credit Rating at B
FIORITI AUTOMOTORES: Trustee Verifies Claims Until Oct. 10
KEIRIN SA: Proofs of Claim Verification Deadline Is October 29
NUESTRA SENORA: Proofs of Claim Verification Deadline Is Oct. 22
RIOMAQ SA: Proofs of Claim Verification Deadline Is October 13

SALOJA SA: Trustee Verifies Proofs of Claim Until September 19
SOCIEDAD DEL OESTE: Trustee Verifies Claims Until September 26
STIGMA SRL: Trustee Verifies Proofs of Claim Until September 24


B E R M U D A

MAN EBISU: Deadline for Proofs of Claim Filing Is Sept. 10
MAN EBISU: Will Hold Final Shareholders Meeting on Sept. 30
MAN MAC BREITHORN: Proofs of Claim Filing Is Until Sept. 10
MAN MAC BREITHORN: Sets Final Shareholders Meeting on Sept. 30
ESTRELLA FUND: Proofs of Claim Filing Deadline Is Sept. 10

ESTRELLA FUND: Holding Final Shareholders Meeting on Sept. 30


B R A Z I L

DELPHI CORP: Appaloosa Wants Fraud Claims Dismissed
DELTA AIR: To Add Non-Stop Flights in Brazil Effective Dec. 19
LEXICON UNITED: June 30 Balance Sheet Upside-Down by US$623,504
UAL CORP: Wants Prelim Injunction Declared Against ALPA, et al.
UAL CORP: High Fuel Prices Prompt Closure of Airport Lounges


C A Y M A N  I S L A N D S

CORYTON GENERATING: Holds Final Shareholders Meeting on Oct. 2
HEPTAGON LTD: To Hold Final Shareholders Meeting on Oct. 2
MORTGAGED ASSET: Holding Final Shareholders Meeting on Oct. 2
OFSI FUND: Will Hold Final Shareholders Meeting on Oct. 2
PARMALAT SPA: NY Court Certifies Domestic Plaintiff Class

PARMALAT SPA: Thorp Reed Wins Dismissal for Pavia in Class Suit
RPL HOLDINGS: Holding Final Shareholders Meeting on Oct. 2
SPALDING GENERATING: Sets Final Shareholders Meeting on Oct. 2


C O L O M B I A

SOLUTIA INC: Sells Shares to Repay US$400,000,000 Bridge Credit
SOLUTIA INC: Hearing on DuPont Settlement Deal Set for Sept. 11
SOLUTIA INC: Resolving Last Few Bankruptcy Claims, Counsel Says


J A M A I C A

AIR JAMAICA: Says Flights Into US Won't be Canceled
AIR JAMAICA: Sales & Marketing Senior VP, Paul Pennicook Resigns
CABLE & WIRELESS: Union Workers Give Ultimatum for Jamaican Unit
DIGICEL LTD: MiPhone Blames Unit for Cell Tower Deal Breakdown


M E X I C O

BHM TECHNOLOGIES: Committee Wants Letter Included Among Plan Docs
BHM TECHNOLOGIES: Court Approves Chanin as Committee Advisor
SEMGROUP LP: Bominflot Insists Ownership of Fuel Oil
SEMGROUP LP: Reserves US$1,100,000 for 230 Laid-Off Employees
SEMGROUP LP: Samson Asserts US$39,740,100 in Unpaid Oil and Gas

SEMGROUP: US$2MM Eaglwing Funds Not Part of Estate, Vess Oil Says
VITRO SAB: Sets New Closing Date for Shares Purchase on Jan. 10


P E R U

BUNGE LTD: CEO to Address Lehman Brothers Conference On Sept. 3

P U E R T O  R I C O

HECTOR JIMENEZ: Case Summary & 6 Largest Unsecured Creditors
RELIABLE MEDICAL: Case Summary & 20 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

HINDU CREDIT: Harry Harnarine Says He is Prepared to Go to Jail


V E N E Z U E L A

NORTHWEST AIRLINES: To Utilize Delta Global Services
PETROLEOS DE VENEZUELA: Increases Supply Capacity for El Tablazo
PETROLEOS DE VENEZUELA: To Meet With Conoco on Assets Acquisition


                          - - - - -


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

DELTA AIR: Obtains US$1 Billion Loan Prior to Northwest Merger
--------------------------------------------------------------
Delta Air Lines Inc., disclosed that it obtained a
US$1,000,000,000 loan to give it greater financial flexibility as
completion of its merger with Northwest Airlines nears.

Delta's merger with Northwest is expected to close by the end of
the year.  BusinessWeek says Delta expects to spend US$600,000,000
to integrate the two companies.

Ed Bastian, Delta's president and chief financial officer, said
in an interview that the draw is part of a credit line that was
made available to the airline upon its exit from bankruptcy court
protection last year, The Wall Street Journal reports.

"It's not being done out of any financial duress or any operating
needs for cash," The Atlanta Journal-Constitution quotes Mr.
Bastian as saying.

According to Mr. Bastian, with the company's US$3.7 billion in
cash at the end of July, including the US$1 billion option
exercised, Delta will have sufficient liquidity through the end of
the year.  "We believe we will have more than sufficient cash on
hand at the closing to manage the integration process and run the
day-to-day business," Mr. Bastian said in the memo to employees,
reports BusinessWeek.

Reports further note that Delta renegotiated its Visa/MasterCard
credit card processing agreement to extend the contract period
through Dec. 31, 2011.  Mr. Bastian said there will continue to
be no cash holdback requirement.  The agreement also provides for
all Visa/MasterCard processing for Northwest following the close
of the consolidation.

                           About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed the
Debtors' plan.  That plan became effective on April 30, 2007.  The
Court entered a final decree closing 17 cases on Sept. 26, 2007.
(Delta Air Lines Bankruptcy News, Issue No. 106; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELTA AIR: NWA Cancels Worldwide Pact, Uses Delta Global Services
-----------------------------------------------------------------
In light of its proposed merger with Delta Air Lines, Inc.,
Northwest Airlines Corp. ended its contract with French-owned
Worldwide Flight Services for ground services at Bradley
International Airport, and decided to use Delta Global Services, a
Delta subsidiary, Courant.com reports.

Delta spokeswoman Susan Elliott has stated that Delta Global won
the Contract in competitive bidding.  With Northwest's reduced
schedule at Bradley Airport, Worldwide's services are no longer
necessary, Northwest's Vice President for Communications Tammy
Lee told Courant.com.

As a result of the canceled Agreement, Worldwide told the
Department of Labor that it plans to shut down operations at the
Bradley Airport effective October 2, 2008, and contemplates 74
job cuts, says the report.

Delta Global plans to employ 30 additional employees at Bradley
Airport, and are considering Worldwide's workers who are
represented by the Transport Workers Union of America, Ms.
Elliott said.

Worldwide employees have "hard-to-obtain" security clearances;
hence the Union is "cautiously optimistic" that they would find
work with Delta, Courant.com says, quoting Union spokesperson
Jamie Horwitz.

                      About Northwest Airlines

Northwest Airlines Corp. (NYSE: NWA) -- http://www.nwa.com/--
is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and about
1,400 daily departures.  Northwest is a member of SkyTeam, an
airline alliance that offers customers one of the world's most
extensive global networks.  Northwest and its travel partners
serve more than 1000 cities in excess of 160 countries on six
continents.  Northwest and its travel partners serve more than
1000 cities in excess of 160 countries on six continents,
including Italy, Spain, Japan, China, Venezuela and Argentina.

The company and 12 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).  Bruce
R. Zirinsky, Esq., and Gregory M. Petrick, Esq., at Cadwalader,
Wickersham & Taft LLP in New York, and Mark C. Ellenberg, Esq.,
at Cadwalader, Wickersham & Taft LLP in Washington, represent the
Debtors in their restructuring efforts.  The Official Committee
of Unsecured Creditors has retained Scott L. Hazan, Esq., at
Otterbourg, Steindler, Houston & Rosen, P.C. as its bankruptcy
counsel in the Debtors' chapter 11 cases.  When the Debtors filed
for bankruptcy, they listed US$14.4 billion in total assets and
US$17.9 billion in total debts.  On Jan. 12, 2007, the Debtors
filed with the Court their chapter 11 plan.  On Feb. 15, 2007, the
Debtors filed an amended plan and disclosure statement.  The Court
approved the adequacy of the Debtors' amended disclosure statement
on March 26, 2007.  On May 21, 2007, the Court confirmed the
Debtors' amended plan.  That amended plan took effect May 31,
2007.

(Northwest Airlines Bankruptcy News; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                           About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed the
Debtors' plan.  That plan became effective on April 30, 2007.  The
Court entered a final decree closing 17 cases on Sept. 26, 2007.
(Delta Air Lines Bankruptcy News, Issue No. 106; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DELTA AIR: Resolves US$9MM Hillsborough Aviation Authority Claim
----------------------------------------------------------------
Hillsborough County Aviation Authority issued bonds, in December
1982, to Delta Air Lines, Inc., with The Bank of New York Mellon,
formerly the Bank of New York, as Indenture Trustee.  Pursuant to
the 1982 Indenture, Delta used the proceeds to construct a hanger,
a maintenance facility and other improvements to a Tampa
International Airport property in Florida.  The bonds were
refinanced in 1988 and 1993.

HCAA and BNY filed a claim for US$8,110,311 against Delta,
asserting debt service payments when Delta discontinued its
periodic rent payments upon rejection of the Lease.  HCCA also
has a separate US$4,181,735 claim for periodic payments, which the
Debtors also refuse to pay.

In September 2007, Delta filed its counterclaim, seeking
declaratory judgment that the Lease is a "true lease" and
recovery of postpetition payments made to HCAA and BNY.

To avoid the complexities, expenses and risks associated with
litigating the obligations under the Lease, the Parties have
reached a settlement, under which they essentially agree that:

    (a) BNY's Claim will be allowed for US$8,000,000;
    (b) HCAA's Claim will be allowed for US$846,584; and
    (c) BNY will pay Delta US$202,000 to settle its Counterclaim.

Delta has agreed to allow BNY and HCAA unsecured Class 4 Claims
under the Reorganized Debtors' Plan.  Additionally, HCCA will
receive a distribution of new Delta common stock with respect to
Delta's payment to HCAA.

The Agreement also provides that BNY and the former, present and
future holders of record and of beneficial interests in the Bonds
will not have any other claim in Delta's cases or otherwise with
regard to the Lease and the Indenture or the Bonds.

Similarly, HCAA will not have any other claim against Delta or
otherwise with regard to the Lease and the Indenture or the
Bonds.

Under the Agreement, BNY and HCAA fully and finally will
discharge the Reorganized Debtors from the BNY and HCAA Claims.
In the same manner, Delta will release the BNY and HCAA from any
and all claims.

The Agreement is deemed to settle and resolve all disputes with
respect to any causes of action and claims resulting from,
related to, or arising out of Delta's obligations under the
Lease, the Indenture or the Bonds.

The Parties asked Judge Adlai S. Hardin of the U.S. Bankruptcy
Court for the Southern District of New York to approve their
Settlement Agreement.

A copy of the deal is available for free at:

   http://bankrupt.com/misc/Delta,BNY&HCAA_SettlementAgreement.pdf

                           About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed the
Debtors' plan.  That plan became effective on April 30, 2007.  The
Court entered a final decree closing 17 cases on Sept. 26, 2007.
(Delta Air Lines Bankruptcy News, Issue No. 106; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000).


DELTA AIR: Abett & Co. Discloses 10.10% Stake
---------------------------------------------
In a Form 13G filed with the Securities and Exchange Commission,
Lord, Abbett & Co. LLC disclosed that it beneficially owns
30,698,022 shares of Delta Air Lines, Inc., common stock.

The Company has a sole voting power of 27,750,818, and has the
option to dispose 30,598,273 shares.

The shares constitute 10.10% of the 303,892,307 shares of Delta
common stock that are outstanding as of June 30, 2008.

                           About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed the
Debtors' plan.  That plan became effective on April 30, 2007.  The
Court entered a final decree closing 17 cases on Sept. 26, 2007.
(Delta Air Lines Bankruptcy News, Issue No. 106; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)


DIDONAZ SA: Trustee Verifies Proofs of Claim Until November 20
--------------------------------------------------------------
Jessica Minc, the court-appointed trustee for Didonaz SA's
reorganization proceeding will be verifying creditors' proofs of
claim until November 20, 2008.

Ms. Minc will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 23
in Buenos Aires, with the assistance of Clerk No. 46, 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 Didonaz SA 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 Didonaz SA's
accounting and banking records will be submitted in court on.

La Nacion didn't state the submission dates for the reports.

Creditors will vote to ratify the completed settlement plan
during the assembly on September 11, 2009.

The debtor can be reached at:

                      Didonaz SA
                      Constitucion 2834
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Jessica Minc
                      Avda. Santa Fe 2534
                      Buenos Aires, Argentina


EMPRESA DISTRIBUIDORA: S&P Affirms Corporate Credit Rating at B
---------------------------------------------------------------
Standard & Poor's Ratings Services has affirmed its 'B' corporate
credit rating on Distribuidora y Comercializadora Norte S.A.
(Edenor) and changed the outlook to stable from positive mainly
due to the deterioration of the business environment in Argentina
during 2008, which is reflected in the high political and
regulatory risk.

The 'B' ratings reflect the high political and regulatory risk
in Argentina, the company's relatively high capital expenditures
requirement to meet growing demand for power within its service
area and relatively high foreign exchange risk.  The ratings
also incorporate the company's solid competitive position
resulting from its exclusive concession to distribute electricity
in the north and northwest of greater Buenos Aires,
its good cash flow generation and debt service coverage ratios,
and its favorable debt maturity profile.

The stable outlook incorporates the company's good cash flow
generation, which should allow it to finance its relatively high
capital expenditures and to face its debt maturities in the
2008-2009 period.  In addition, the outlook reflects the high
political and regulatory risk, which is reflected in the recent
postponement for 2009 of the global renegotiation of the
company's concession.  An upgrade would depend on an improved
business environment in Argentina, which should derive in
significant reduction of political and regulatory risk.  In
addition, the ratings could deteriorate if Edenor's financial
risk profile is affected by increasing operating costs and by a
significant deterioration of its liquidity and financial
flexibility.

Based in Buenos Aires, Argentina, Empresa Distribuidora y
Comercializadora Norte S.A. aka Edenor is the largest electricity
distribution company in Argentina in terms of number
of customers and volume of energy sold.  The company commenced
operations in 1992, as a result of the privatization of the
previously state-owned SEGBA.  At that time, it was granted a
95-year concession to distribute electricity on an exclusive
basis in its concession area, the greater Buenos Aires
metropolitan area and northern portion of the City of Buenos
Aires.  Edenor is 51% owned by Electricidad Argentina S.A., an
Argentine holding company which is 100% owned by Pampa Holding
S.A., another Argentine holding company with investments in
power generation, transmission, and distribution in Argentina.
EASA, which is controlled by Dolphin Energia S.A., is
Edenor's holding company.


FIORITI AUTOMOTORES: Trustee Verifies Claims Until Oct. 10
----------------------------------------------------------
The court-appointed trustee for Fioriti Automotores S.A.C.I.'s
bankruptcy proceeding, will be verifying creditors' proofs of
claim until October 10, 2008.

The trustee will present the validated claims in court as
individual reports on November 21, 2008.  A court in Argentina
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 Fioriti Automotores 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 Fioriti Automotores'
accounting and banking records will be submitted in court on
February 9, 2009.

The trustee is also in charge of administering Fioriti
Automotores' assets under court supervision and will take part in
their disposal to the extent established by law.


KEIRIN SA: Proofs of Claim Verification Deadline Is October 29
--------------------------------------------------------------
Martha Comba, the court-appointed trustee for Keirin SA's
bankruptcy proceeding, will be verifying creditors' proofs of
claim until October 29, 2008.

Ms. Comba will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 7 in Buenos Aires, with the assistance of Clerk
No. 14, 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 Keirin SA 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 Keirin SA's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

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

The debtor can be reached at:

                      Keirin SA
                      Viamonte 1526
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Martha Comba
                      Hipolito Yrigoyen 1349
                      Buenos Aires, Argentina


NUESTRA SENORA: Proofs of Claim Verification Deadline Is Oct. 22
----------------------------------------------------------------
Miguel Angel Troisi, the court-appointed trustee for Nuestra
Senora de Pompeya S.A.'s bankruptcy proceeding, will be verifying
creditors' proofs of claim until October 22, 2008.

Mr. Troisi will present the validated claims in court as
individual reports on December 3, 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
Nuestra Senora 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 Nuestra Senora's
accounting and banking records will be submitted in court on
February 19, 2009.

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

The debtor can be reached at:

                      Nuestra Senora de Pompeya S.A.
                      Avenida Escalada 2831
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Miguel Angel Troisi
                      Cerrito 146
                      Buenos Aires, Argentina


RIOMAQ SA: Proofs of Claim Verification Deadline Is October 13
--------------------------------------------------------------
Ines Clos, the court-appointed trustee for Riomaq S.A.'s
bankruptcy proceeding, will be verifying creditors' proofs of
claim until October 13, 2008.

Ms. Clos will present the validated claims in court as
individual reports on December 3, 2008.  The National Commercial
Court of First Instance No. 19 in Buenos Aires, with the
assistance of Clerk No. 37, 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 Riomaq S.A. 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 Riomaq S.A.'s
accounting and banking records will be submitted in court on
February 9, 2009.

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

The debtor can be reached at:

                      Riomaq S.A.
                      Avenida Juramento 2017
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Ines Clos
                      Sarmiento 944
                      Buenos Aires, Argentina


SALOJA SA: Trustee Verifies Proofs of Claim Until September 19
--------------------------------------------------------------
Donato Sacurno, the court-appointed trustee for Saloja SA's
bankruptcy proceeding, will be verifying creditors' proofs of
claim until September 19, 2008.

Mr. Sacurno 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 No. 34,
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 Saloja SA 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 Saloja SA's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

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

The debtor can be reached at:

                      Saloja SA
                      Pena 2346
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Donato Sacurno
                      Bernardo de Irigoyen 330
                      Buenos Aires, Argentina


SOCIEDAD DEL OESTE: Trustee Verifies Claims Until September 26
--------------------------------------------------------------
Ana Bravo, the court-appointed trustee for Sociedad del Oeste SA's
reorganization proceeding will be verifying creditors' proofs of
claim until September 26, 2008.

Ms. Bravo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 2 in Buenos Aires, with the assistance of Clerk
No. 4, 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 Sociedad del Oeste 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 Sociedad del Oeste's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

Creditors will vote to ratify the completed settlement plan
during the assembly on June 4, 2009.

The debtor can be reached at:

                      Sociedad del Oeste SA
                      Avda. de los Incas 3295
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Ana Bravo
                      25 de Mayo 596
                      Buenos Aires, Argentina


STIGMA SRL: Trustee Verifies Proofs of Claim Until September 24
---------------------------------------------------------------
Clorinda Paula Donato, the court-appointed trustee for Stigma
SRL's bankruptcy proceeding, will be verifying creditors' proofs
of claim until September 24, 2008.

Ms. Donato will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of No. 7, 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 Stigma SRL 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 Stigma SRL's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

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

The debtor can be reached at:

                      Stigma SRL
                      Maipu 359
                      Buenos Aires, Argentina

The trustee can be reached at:

                      Clorinda Paula Donato
                      Maipu 42
                      Buenos Aires, Argentina



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

MAN EBISU: Deadline for Proofs of Claim Filing Is Sept. 10
----------------------------------------------------------
Man Ebisu Ltd.'s creditors are given until Sept. 10, 2008, to
prove their claims to Beverly Mathias, 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.

Man Ebisu's shareholders agreed on Aug. 22, 2008, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda


MAN EBISU: Will Hold Final Shareholders Meeting on Sept. 30
-----------------------------------------------------------
Man Ebisu Ltd. will hold its final shareholders meeting on
Sept. 30, 2008, at 9:30 a.m., at the offices of Argonaut Limited,
Argonaut House, 5 Park Road, Hamilton, Bermuda.

These matters will be taken up during the meeting:

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

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

    -- passing of a resolution dissolving the
       company.

Man Ebisu's shareholders agreed on Aug. 22, 2008, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda


MAN MAC BREITHORN: Proofs of Claim Filing Is Until Sept. 10
-----------------------------------------------------------
Man MAC Breithorn 12B Ltd.'s creditors are given until Sept. 10,
2008, to prove their claims to Beverly Mathias, 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.

Man MAC Breithorn's shareholders agreed on Aug. 22, 2008, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda


MAN MAC BREITHORN: Sets Final Shareholders Meeting on Sept. 30
--------------------------------------------------------------
Man MAC Breithorn 12B Ltd. will hold its final shareholders
meeting on Sept. 30, 2008, at 9:30 a.m., at the offices of
Argonaut Limited, Argonaut House, 5 Park Road, Hamilton, Bermuda.

These matters will be taken up during the meeting:

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

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

    -- passing of a resolution dissolving the
       company.

Man MAC Breithorn's shareholders agreed on Aug. 22, 2008, to place
the company into voluntary liquidation under Bermuda's Companies
Act 1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda


ESTRELLA FUND: Proofs of Claim Filing Deadline Is Sept. 10
----------------------------------------------------------
Estrella Fund Ltd.'s creditors are given until Sept. 10, 2008, to
prove their claims to Beverly Mathias, 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.

Estrella Fund's shareholders agreed on Aug. 22, 2008, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda


ESTRELLA FUND: Holding Final Shareholders Meeting on Sept. 30
-------------------------------------------------------------
Estrella Fund Ltd. will hold its final shareholders meeting on
Sept. 30, 2008, at 9:30 a.m., at the offices of Argonaut Limited,
Argonaut House, 5 Park Road, Hamilton, Bermuda.

These matters will be taken up during the meeting:

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

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

    -- passing of a resolution dissolving the
       company.

Estrella Fund's shareholders agreed on Aug. 22, 2008, to place the
company into voluntary liquidation under Bermuda's Companies Act
1981.

The liquidator can be reached at:

                Beverly Mathias
                c/o Argonaut Limited
                Argonaut House, 5 Park Road
                Hamilton, Bermuda



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

DELPHI CORP: Appaloosa Wants Fraud Claims Dismissed
---------------------------------------------------
BankruptcyLaw 360 reports that Appaloosa Management LP has asked a
court to throw out claims and strike allegations brought by Delphi
Corp. in relation to a US$2.55 billion planned investment that
didn't push through.

As reported by the Troubled Company Reporter on August 15, 2008,
the Hon. Robert Drain of the U.S. Bankruptcy Court for the
Southern District of New York issued a ruling granting in part and
denying in part, each of the motions of Appaloosa, Harbinger Del-
Auto Investment Company Ltd., Merrill Lynch, Pierce, Fenner &
Smith Incorporated, Goldman Sachs & Co. and UBS Securities LLC for
the dismissal of the complaints filed against them by the Debtors,
pursuant to Rules 9(b), 12(b)(6) and (12)(f) of the Federal Rules
of Civil Procedure, as incorporated by Rules 7009 and 7012(b) of
the Federal Rules of Bankruptcy Procedure.

As disclosed in the TCR on Aug. 7, 2008, Delphi accused Appaloosa
and other investors of defrauding the Court by stating that they
had every intention of performing under the Equity Purchase and
Commitment Agreement.  Appaloosa, however, argued that Delphi
cannot seek specific performance because it is currently unable to
perform under the conditions-precedent of the EPCA, including
obtaining commitment to its US$6,100,000,000 debt financing and
the completion of the rights offering.

Delphi's exit from Chapter 11 has been derailed as a result.

Based in Troy, Michigan, Delphi Corporation (PINKSHEETS: 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,
represent the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed US$9,162,000,000
in total assets and US$23,742,000,000 in total debts.

The Court approved Delphi's First Amended Joint Disclosure
Statement and related solicitation procedures for the
solicitation of votes on the First Amended Plan on Dec. 20,
2007.  The Court confirmed the Debtors' First Amended Plan on
Jan. 25, 2008.  The Plan has not been consummated after a group
led by Appaloosa Management, L.P., backed out from their
proposal to provide US$2,550,000,000 in equity financing to
Delphi.


DELTA AIR: To Add Non-Stop Flights in Brazil Effective Dec. 19
--------------------------------------------------------------
Delta Air Lines Inc. will offer two new direct flights
between the United States and Brazil, providing convenient access
for customers traveling to the Amazon region and to two of the
most popular beach destinations in the Brazilian Northeast.

Beginning Dec. 19, 2008, Delta will offer nonstop service between
Hartsfield-Jackson Atlanta International Airport and the Eduardo
Gomez International Airport in Manaus.  On Dec. 22, Delta will
start service between Atlanta and the Fortaleza International
Airport via the Guararapes International Airport in Recife.

This new service increases to 32 the number of weekly flights
Delta offers between the United States and five Brazilian
destinations.

Delta currently offers daily nonstop service between Atlanta and
New York-JFK and Sao Paulo's Guarulhos International Airport, and
between Atlanta and Rio de Janeiro's Galeao-Antonio Carlos Jobim
International Airport.  Delta recently also announced the addition
of a seasonal frequency between Atlanta and Sao Paulo, effective
Dec. 20, 2008.

Manaus is the capital of Amazonas, Brazil's largest state and home
to the region's main port.  It is the starting point for travelers
who want to discover the wonders of the tropical rainforest and
ecological tourism options along the Rio Negro and Amazon Rivers,
the largest in the world.

Recife, the capital of the Brazilian state of Pernambuco, is a
gateway to famous tropical beaches and world-renowned resorts, and
hosts one of the main Carnival festivals of the country.

Fortaleza, the capital of the state of Ceara, lies on the shore of
the Atlantic Ocean, in the northeast of Brazil, offering 16 miles
of urban beaches and an array of tourism, cultural and gastronomic
options.

To kick off the new service, Delta is offering a special one-way
introductory fare of US$659 on the Atlanta-Manaus route, and
US$599 on the Atlanta-Recife-Fortaleza route for travel between
Jan. 6 and March 27, 2009. Round-trip ticket purchase required.
Tickets must be purchased by Sept. 8, 2008.  Additional
taxes/fees/restrictions/baggage charges may apply.

"These new flights are the result of the recent limited expansion
of the bilateral agreement between the governments of the United
States and Brazil, which opens the door to new opportunities for
tourists as well as new business ventures between the two
countries," said Christophe Didier, Delta's vice president of
Sales and Government Affairs for Latin America
and the Caribbean.  "We look forward to continued expansion of
this agreement in the future."

                            About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed
the Debtors' plan.  That plan became effective on April 30,
2007.  The Court entered a final decree closing 17 cases on
Sept. 26, 2007.


LEXICON UNITED: June 30 Balance Sheet Upside-Down by US$623,504
---------------------------------------------------------------
Lexicon United Incorporated Inc.'s balance sheet at June 30, 2008,
showed total assets of 4,185,307 and total liabilities of
US$4,808,811, resulting in a stockholders' deficit of US$623,504.

As of June 30, 2008, the company has total current assets of
US$1,157,273, as compared to US$1,002,727 as of June 30, 2007.
The company has total current liabilities of US$4,425,608 as of
June 30, 2008, as compared to US$3,649,194 as of June 30, 2007.

Lexicon United reported financial results for the second quarter
and six months ended June 30, 2008.

For three months ended June 30, 2008, the company incurred net
loss of US$120,815 compared to net loss of US$295,650 for the same
period in the previous year.

For six months, the company's net loss decreased to US$414,046
compared to net loss of US$470,816 for the same period in the
previous year.

Net revenues for the quarter ended June 30, 2008 increased 92% to
US$1,211,244 as compared to US$629,493 for the comparable period
last year. Net loss for the quarter was US$120,815, or US$0.01 per
share, as compared to a net loss of US$295,650 for the second
quarter of the prior year.  Sequentially, revenues in the second
quarter increased by 37% or US$326,379.

For the six months ended June 30, 2008, revenues increased 65% to
US$2,096,109 from US$1,268,685 in the comparable period last year.
Net loss for the first six months of fiscal 2008 was US$414,046,
compared to net loss of US$470,816 or US$0.06 per share for the
comparable period last year.

                Liquidity and Capital Resources

The company has cash and cash equivalents of approximately
US$449,825 as of June 30, 2008, and it has short-term liabilities
in the amount of US$4,425,608, well as long-term liabilities in
the amount of US$383,203 as of June 30, 2008.  The company intends
to use its cash to retire current debt as it comes due well as to
pay operating expenses as necessary.

During 2007, the company negotiated with Brazilian authorities to
favorably settle recorded municipal service taxes of US$730,000.
In addition, the company further evaluated related payroll tax
provisions and reduced same by approximately US$200,000.

"We are very pleased with our operating results during the second
quarter, primarily the increased revenue from servicing
collections on behalf of third party clients," Elie Saltoun, CEO &
president, stated.  "In our ongoing focus to improve operations,
we have successfully lowered our operating expenses as a
percentage of sales from the prior year.  We have invested and
built an infrastructure to handle additional projects and
portfolios, all of which we believe will result in shareholder
value.

"In late June we acquired from Ativos S/A Securitizadora, a
portfolio of distressed debt assets of Banco do Brasil SA with a
face value of R$498,685,303.94 or approximately US$305 million;
this said, we did not expect to begin establishing a revenue
stream from this portfolio until this current quarter," Mr.
Saltoun added.  "With the anticipated benefits associated with
generating revenues from our own portfolio, we expect the
remainder of this year to improve our top and bottom line
results."

                    About Lexicon United Inc.

Lexicon United Inc. was incorporated on July 17, 2001, in the
state of Delaware.  The company, through its subsidiary, ATN
Capital E Participacoes Ltda, is engaged in the business of
managing and servicing accounts receivables for large
financial institutions in Brazil.  ATN derives its revenues
primarily from collection of distressed debt by entering into non
binding agreements with financial institutions to collect their
debt.

                     Going Concern Doubt

Meyler & Company, LLC, in Middletown, New Jersey, expressed
substantial doubt about Lexicon United Inc.'s ability to continue
as a going concern after auditing the company's consolidated
financial statements for the year ended Dec. 31, 2007.  The
auditing firm said that the company incurred net losses of
US$135,182 and US$1,264,576 for the years ended Dec. 31, 2007, and
2006, and has an accumulated deficit of US$2,025,245 and
negative working capital of US$2,579,733 at Dec. 31, 2007.


UAL CORP: Wants Prelim Injunction Declared Against ALPA, et al.
---------------------------------------------------------------
United Air Lines, Inc., asked Judge Eugene R. Wedoff of the U.S.
District Court for the Northern District of Illinois to issue
declaratory judgment and preliminary injunction -- for an alleged
violation of Section 2 of the First Railway Labor Act -- against:

    * the United Airlines Master Executive Council of the Air Line
      Pilots Association, International;

    * Steven M. Tamkin;

    * Robert J. Domaleski Jr.;

    * Xavier F. Fernandez; and

    * Anthony R. Freeman.

Section 2 of the RLA obligates carriers, unions and employees "to
exert every reasonable effort to make and maintain [collective
bargaining] agreements . . . and resolve all disputes . . . in
order to avoid any interruption to commerce or to the operation
of any carrier."

ALPA, as representative of the pilots at United, entered into a
collective bargaining agreement with United during the company's
bankruptcy, which became effective on August 24, 2005.  The
parties agreed that the duration of the United-ALPA CBA would
extend until December 31, 2009.   Neither party is to submit
intended changes to the CBA, until 270 days prior to December 31,
2009.

ALPA's Master Executive Council is a representative body that
makes all decisions for ALPA on matters affecting United pilots.
Mr. Tamkin is the chairman, and Messrs. Domaleski and Fernandez,
are the members of the MEC's Industrial Relations Committee.
According to a MEC policy manual, the IRC's duties include the
formulation and implementation of labor actions which will
accomplish the goals of the United pilots and the directives of
the UAL-MEC.

Gary S. Kaplan, Esq., at O'Melveny & Myers LLP, in Washington,
D.C., contended that similar to what ALPA is doing, Mr. Freeman
-- a United pilot first officer, who administers a Web site,
http://www.ual2172.com/to communicate with other pilots --is
engaged in activities directed at harming United in violation of
the Railway Labor Act.

According to Mr. Kaplan, ALPA has been engaged in a campaign for
more than a year in which it has encouraged its members to adhere
strictly to the CBA, and to refuse voluntary flight assignments
allowed under the current contract, for the explicit purpose of
exerting economic pressure on United to open the CBA for
renegotiation.

ALPA's campaign has forced United to cancel 329 flights from July
19 to 27, 2008, Mr. Kaplan informs Judge Wedoff.

The campaign has (i) cost United millions of dollars in lost
profit, (ii) damaged its reputation and customer good will, (iii)
disrupted the travel plans of 36,000 customers, and (iv)
adversely impacted United's other employees, Mr. Kaplan pointed
out.

Every MEC Update issued by ALPA on its Web site,
http://crewroom.alpa.org/ualunity/is prefaced with ALPA's demand
to re-open the contract, Mr. Kaplan notes.

ALPA has issued recent communications to the pilots both
explicitly and implicitly encouraging the sick-out, showing that
even if ALPA did not directly plan the sick-out, ALPA ratified
it, Mr. Kaplan said.

                      United Seeks Injunction

United asserted that an injunction is the appropriate remedy to
compel the performance of its pilots' legal duty.  Without a
preliminary injunction, Mr. Kaplan contended, United will suffer
immediate and irreparable damage in the form of increased costs
for measures designed to avoid flight delays and cancellations,
loss of revenue, and damage to its business reputation.  However,
the Defendants will suffer, if any, minimal injury, from an
injunction against unlawful job actions and the injury will be
adequately indemnified by bond.

Specifically, United asked the Court to order the Defendants to:

    * instruct the ALPA-represented pilots at United to resume
      their normal working schedule and practices, and provide
      United a copy of the instructions;

    * notify all ALPA-represented pilots at United, of the
      issuance, contents and meaning of the preliminary
      injunction, and produce a copy of all messages to United;
      and

    * attach in the notice a directive from ALPA to those
      pilots who are engaging in the Slowdown Campaign to conduct
      pilot operations in the normal manner to cease and desist
      all the activity and exhortations or communications
      encouraging upon pain of fine, suspension, or other sanction
      by ALPA.

Moreover, United asks the Court to prohibit the Defendants from
including in the Notices any statements that pilots should
continue to engage in the unlawful job actions, including:

    (a) any assertion that the Preliminary Injunction does
        not prohibit individual pilots from making voluntary
        decisions to engage in the actions; and

    (b) any explanation of circumstances in which it would be
        appropriate for pilots to decline to waive a
        contractual requirement that the pilot may waive or
        decline a request to undertake a voluntary flight
        assignment, refuse a flight assignment or refuse to fly an
        aircraft that meets legal requirements for flight.

United asked the Court to compel the attendance of the Defendants
immediately after the issuance of a preliminary injunction order.
Moreover, United asks the Court to issue an injunction on the
condition that a bond, in an amount to be determined by the
Court, be filed by United.  The Defendants will recover from
United under the Bond all costs and damages, if any, suffered by
them, in the event that United does not succeed in the Complaint.

United has sought discovery from the Defendants, on an expedited
basis.  Accordingly, the parties stipulated that the Defendants
will respond to United's discovery requests and appear for
deposition on August 15, 2008.

            United and ALPA Reach Standstill Agreement

At District Judge Joan H. Lefkow's directive, United and ALPA
agreed to a temporary pact in order to prevent further flight
disruptions, Bloomberg News reports.

In a telephone interview with Bloomberg, Megan McCarthy, United
spokesperson said, "We have an agreement."  However, both camps
would neither disclose the details, Reuters notes.  The report
has quoted James Linsey, Esq., ALPA's counsel, telling the Court
that ALPA was trying to "tamp down" pilot unrest.  United
disputed Mr. Linsey's statement, according to Reuters.

         Flight Attendants Condemn UAL for Filing Complaint

Greg Davidowitch, Association of Flight Attendants-CWA (AFA-CWA)
United Airlines Master Executive Council president, issued a
statement after United management filed a law suit against
individual pilots and their union, the Air Line Pilots
Association

"[]United management launched a very serious attack on employees
by issuing an inaccurate and misleading media statement concerning
the pilots at United Airlines.

"This latest union-busting tactic is condemned for what it is: a
corrupt attempt to distract workers and travelers of United
Airlines from the failures of current executives.  Their actions
add nothing to the debate over the future of our airline, but
instead serve to further inflame an already poisonous labor
relations atmosphere.

"The notion that any frontline employee of United Airlines is
responsible for the failures of United executives is laughable.
Not content to destroy labor relations, and to
destroy the passenger experience, the geniuses that run this
airline have also destroyed shareholder value in the past year.
With all the major metrics of corporate performance at an all-
time low, current management has lost its reason to continue in
charge of the airline.

"An attack on one employee is an attack on all of us.  We stand in
solidarity with the Air Line Pilots Association and condemn United
management for this new low in labor relations."

More than 55,000 Flight Attendants, including the 17,000 Flight
Attendants at United, join together to form AFA, the world's
largest Flight Attendant union.  AFA is part of the 700,000 member
strong Communications Workers of America, AFL-CIO --
http://www.unitedafa.org/

                           *     *     *

At the recommendation of Judge Lefkow, Chief Judge James F.
Holderman of the Executive Committee of the United States
District Court for the Northern District of Illinois, referred
United's Complaint to Magistrate Judge Morton Denlow for
discovery supervision.

However, in a joint status report filed to the Court on
Aug. 12, 2008, United and the Defendants stated that they do
not consent to trial before a magistrate judge.  Moreover, the
Defendants reserve the right to file one or more counterclaims
while United reiterates that it is not seeking damages.  The
parties have not engaged in any settlement negotiations.

                       About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA)
-- http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest
air carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and
Steven R. Kotarba, Esq., at Kirkland & Ellis, represented the
Debtors in their restructuring efforts.  Fruman Jacobson, Esq.,
at Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended
Plan on Jan. 20, 2006.  The company emerged from bankruptcy
protection on Feb. 1, 2006.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 30, 2008, Standard & Poor's Ratings Services lowered its
ratings on UAL Corp. and subsidiary United Air Lines Inc. (both
rated B- /Negative/--), including lowering the long-term
corporate credit ratings on both entities to 'B-' from 'B', and
removed the ratings from CreditWatch, where they had been placed
with negative implications May 22, 2008, as part of an
industrywide review.  The outlook is negative.


UAL CORP: High Fuel Prices Prompt Closure of Airport Lounges
------------------------------------------------------------
United Airlines Inc. intends to shut down its airport lounges as
skyrocketing fuel costs continue to plague the airline industry,
Jane L. Levere of the New York Times report.

United plans to enforce the closing of lounges in Hartsfield-
Jackson Atlanta International Airport, the Baltimore airport,
Dallas Fort Worth International Airport, and Minneapolis St. Paul
International Airport, by October 10, Ms. Levere discloses.

United has already closed lounges at airports in Cleveland,
Sydney, and London's Heathrow for the last two years, according
to Ms. Levere.  Nevertheless, United members can avail of lounges
run by its alliance, the Star Alliance, Ms. Levere notes.

According to the report, airlines have to pay for rent, salaries
and other expenses for the maintenance of the lounges, which may
yield little income.  As carriers are incrementally cutting
capacity costs, the lounge shutdowns is just one of the drastic
measures to keep up with high production expenses, Ms. Levere
relates.  The combined lounge closings are expected to affect
lounge members who pay as much as US$400 as membership fees per
annum, Ms. Levere says.

                       About UAL Corporation

Based in Chicago, Illinois, UAL Corporation (NASDAQ: UAUA)
-- http://www.united.com/-- is the holding company for United
Airlines, Inc.  United Airlines is the world's second largest
air carrier.  The airline flies to Brazil, Korea and Germany.

The company filed for chapter 11 protection on Dec. 9, 2002
(Bankr. N.D. Ill. Case No. 02-48191).  James H.M. Sprayregen,
Esq., Marc Kieselstein, Esq., David R. Seligman, Esq., and
Steven R. Kotarba, Esq., at Kirkland & Ellis, represented the
Debtors in their restructuring efforts.  Fruman Jacobson, Esq.,
at Sonnenschein Nath & Rosenthal LLP represented the Official
Committee of Unsecured Creditors before the Committee was
dissolved when the Debtors emerged from bankruptcy.

Judge Eugene R. Wedoff confirmed the Debtors' Second Amended
Plan on Jan. 20, 2006.  The company emerged from bankruptcy
protection on Feb. 1, 2006.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 30, 2008, Standard & Poor's Ratings Services lowered its
ratings on UAL Corp. and subsidiary United Air Lines Inc. (both
rated B- /Negative/--), including lowering the long-term
corporate credit ratings on both entities to 'B-' from 'B', and
removed the ratings from CreditWatch, where they had been placed
with negative implications May 22, 2008, as part of an
industrywide review.  The outlook is negative.



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

CORYTON GENERATING: Holds Final Shareholders Meeting on Oct. 2
--------------------------------------------------------------
Coryton Generating Company Ltd. will hold its final shareholders
meeting on Oct. 2, 2008, at the offices of Maples Finance Limited,
Boundary Hall, Cricket Square, George Town, Grand Cayman, Cayman
Islands.

The accounting of the wind-up process will be taken up during the
meeting.

Coryton Generating' shareholders agreed on June 25, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

                 Jan Neveril and Giles Kerley
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands


HEPTAGON LTD: To Hold Final Shareholders Meeting on Oct. 2
----------------------------------------------------------
Heptagon Ltd. will hold its final shareholders meeting on Oct. 2,
2008, at the offices of Maples Finance Limited, Boundary Hall,
Cricket Square, George Town, Grand Cayman, Cayman Islands.

The accounting of the wind-up process will be taken up during the
meeting.

Heptagon's shareholders agreed on June 26, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

                 George Bashforth and Emile Small
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands


MORTGAGED ASSET: Holding Final Shareholders Meeting on Oct. 2
--------------------------------------------------------------
Mortgaged Asset Return Investment Opportunities Corp. will hold
its final shareholders meeting on Oct. 2, 2008, at the offices of
Maples Finance Limited, Boundary Hall, Cricket Square, George
Town, Grand Cayman, Cayman Islands.

The accounting of the wind-up process will be taken up during the
meeting.

Mortgaged Asset's shareholders agreed on June 24, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

                 Jan Neveril and Guy Major
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands


OFSI FUND: Will Hold Final Shareholders Meeting on Oct. 2
---------------------------------------------------------
OFSI Fund IV Ltd. will hold its final shareholders meeting on
Oct. 2, 2008, at the offices of Maples Finance Limited, Boundary
Hall, Cricket Square, George Town, Grand Cayman, Cayman Islands.

The accounting of the wind-up process will be taken up during the
meeting.

OFSI Fund's shareholders agreed on June 26, 2008, 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 and Emile Small
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands


PARMALAT SPA: NY Court Certifies Domestic Plaintiff Class
---------------------------------------------------------
Parmalat S.p.A. communicates that U.S. District Court for the
Southern District of New York, where the class action "Parmalat
Securities Litigation" is pending, has certified the class with
respect to domestic plaintiffs who have purchased shares of (old)
Parmalat in the period Jan. 5, 1999-Dec. 18, 2003.

The court has excluded foreign purchasers considering the
substantial likelihood that motions to dismiss their claims would
be granted.

The court also noted that the class representatives who have moved
for certification have bought only Parmalat ordinary shares, not
debt.  Accordingly, the court further modified the class to
include only domestic investors who purchased or otherwise
acquired Parmalat ordinary shares during the class period.

The ruling is without prejudice to the pending application to
approve a settlement with (new) Parmalat on behalf of a broader
class, and a renewed motion to expand the class to include foreign
purchasers.

                          About Parmalat

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 US$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

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

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

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


PARMALAT SPA: Thorp Reed Wins Dismissal for Pavia in Class Suit
---------------------------------------------------------------
Thorp Reed & Armstrong, LLP, has successfully secured a
dismissal for independent Italian law firm Pavia e Ansaldo
(Pavia) in a major class action suit brought by the shareholders
of Parmalat S.p.A.

The suit was brought against a number of independent
institutions, including Bank of America, Citigroup and Pavia,
following the Italian dairy firm's entering into bankruptcy, the
largest in Europe's history.  Bank of America and Citigroup were
dismissed along with Pavia.

The dismissal, handed down by U.S. District Court Judge Lewis A.
Kaplan, was issued on August 7 and made available to the public
on August 11.

The class action suit sought billions of dollars in damages and
was brought on behalf of buyers of shares in Parmalat.
Investors accused accounting firms, the banks, and Pavia, of
willfully misleading them about the value of shares they
purchased in Parmalat prior to the company's collapse in 2003.
The collapse of Parmalat has been referred to as the "Enron of
Europe."

The recent United States Supreme Court decision in Stoneridge
vs. Scientific Atlanta provided the basis for the ruling and
clarified that Pavia, and the banks involved in the suit, had no
liability for the fraud alleged in the Parmalat case.

Joe Donley, Esq., the Thorp Reed & Armstrong partner who was
lead counsel for Pavia in the case, commented, "The dismissal is
extremely satisfying for all of us who worked on the case, but
perhaps most importantly, it is an important moral, ethical and
legal victory for Pavia e Ansaldo, a highly respected Italian
law firm.  The firm always maintained that it had no involvement
in the Parmalat collapse and that it did not engage in any
fraudulent or deceptive conduct, and the evidence showed that.
We applaud the decision by Judge Kaplan and his recognition that
the plaintiffs' arguments were unfounded in this matter."

                         About Parmalat

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 US$200
million in assets and debts.  The U.S. Debtors emerged from
bankruptcy on April 13, 2005.

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

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

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


RPL HOLDINGS: Holding Final Shareholders Meeting on Oct. 2
----------------------------------------------------------
RPL Holdings Ltd. will hold its final shareholders meeting on
Oct. 2, 2008, at the offices of Maples Finance Limited, Boundary
Hall, Cricket Square, George Town, Grand Cayman, Cayman Islands.

The accounting of the wind-up process will be taken up during the
meeting.

RPL Holdings' shareholders agreed on June 25, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

                 Jan Neveril and Giles Kerley
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands


SPALDING GENERATING: Sets Final Shareholders Meeting on Oct. 2
--------------------------------------------------------------
Spalding Generating Company Ltd. will hold its final shareholders
meeting on Oct. 2, 2008, at the offices of Maples Finance Limited,
Boundary Hall, Cricket Square, George Town, Grand Cayman, Cayman
Islands.

The accounting of the wind-up process will be taken up during the
meeting.

Spalding Generating' shareholders agreed on June 25, 2008, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

                 Jan Neveril and Giles Kerley
                 c/o Maples Finance Limited
                 P.O. Box 1093GT
                 Grand Cayman, Cayman Islands



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

SOLUTIA INC: Sells Shares to Repay US$400,000,000 Bridge Credit
---------------------------------------------------------------
Solutia, Inc. launched an underwritten public offering
of 22,307,692 shares of its common stock at a price of US$13 per
share for gross proceeds of approximately US$290,000,000.  All of
the approximately US$277,000,000 of net proceeds from the offering
will be used to partially repay Solutia's US$400,000,000 15.50%
bridge credit facility.

Solutia, on the effective date of its Plan of Reorganization on
Feb. 28, 2008, entered into credit facilities aggregating up to
US$2,050,000,000 with a syndicate of banks to finance its
emergence from Chapter 11.  The loans include a bridge loan
facility in an aggregate principal amount of US$400,000,000, with
an initial maturity date of Feb. 28, 2009, and which may be
extended by six years subject to conditions.  Citibank, N.A.,
served as administrative agent; Goldman Sachs Credit Partners
L.P., as syndication agent; Deutsche Bank AG New York Branch, as
documentation agent; and Citigroup Global Markets Inc., Goldman
Sachs Credit Partners L.P. and Deutsche Bank Securities Inc., as
joint lead arrangers and bookrunners under the Bridge Facility.

Solutia, in its news release, says it intends to fully repay the
bridge credit facility prior to the end of February 2009 at which
time the loans could be converted by the lenders into notes that
mature in February 2015.

Deutsche Bank Securities Inc. and Jefferies & Company, Inc., are
the joint underwriters for the offering.  A shelf registration on
Form S-3 relating to these securities was filed with the
Securities and Exchange Commission and became effective on
July 25, 2008.  A copy of the prospectus supplement and base
prospectus relating to the offering may be obtained, when
available, from Deutsche Bank Securities Inc., 100 Plaza One,
Floor 2, Jersey City, New Jersey 07311-3901, by telephone at
1-800-503-4611, or by email at prospectusrequest@list.db.com

              Stockholders Are Not Receiving Dividends

Solutia, in a document submitted to the Securities and Exchange
Commission on August 11, said that the 22,307,692 shares of its
common stock that it will be selling has a public offering price
of US$13 per share, 15.80% cheaper than the last reported sale
price of US$15.44 per share at the New York Stock Exchange as of
Aug. 8, 2008.

Solutia noted that it has not paid any cash dividends on its
common stock in its last two fiscal years or subsequent interim
periods and does not expect to pay dividends for the foreseeable
future.  Solutia's senior secured facilities restrict the payment
of dividends.

Solutia said it expects to obtain proceeds, net of underwriting
discounts, of US$277,574,996.

A full-text copy of Solutia's supplement to its July 25 can be
accessed at http://ResearchArchives.com/t/s?3141

               Solutia Mulls Options to Pay Remainder

Solutia spokesperson Dan Jenkins said the company "is looking at
different options" to repay unpaid portion of the US$400,000,000
bridge facility, Bloomberg News reports.  Bloomberg said that
Solutia raised US$277 million from the public offering to pay for
a portion of the bridge loan.

Solutia will repay the more than US$120,000,000 due under the loan
in February 2009.

           Sale Price 53% Below the US$20 Under Ch. 11 Plan;
            Shares Return to US$15-Level After Shares Sale

After Solutia announced its proposed conversion of a portion of
its US$400,000,000 debt to equity at US$13 per share, closing
prices of its stock tumbled to 9% to US$14.14 apiece on August 11,
but has since recovered to US$15.48 a share as of August 19:

                Date       Closing Price
                ----       -------------
               19-Aug       US$15.48 per share
               18-Aug        15.03
               15-Aug        14.74
               14-Aug        14.53
               13-Aug        14.17
               12-Aug        14.02
               11-Aug        15.44
                8-Aug        15.42

The August 19 closing price of Solutia shares is valued 8.63%
higher than the US$14.25 closing price of Solutia shares on March
25 when it first officially began trading at the NYSE since its
emergence from Chapter 11.

Pursuant to its Plan of Reorganization, Solutia distributed
rights to subscribe for 28,906,562 shares of its new common stock
to certain prepetition general unsecured creditors, noteholders
and holders of pre-emergence common stock.  Eligible creditors to
participate in the creditor rights offering were offered new
common stock at US$13.33 per share under the rights offering.
Eligible stockholders were offered new common stock at US$17.23
per share.

The US$13.33 offering price to unsecured creditors represented a
33.33% discount to the implied US$20 per share value of the new
common stock, based on a reorganization equity value of Solutia
of approximately US$1,200,000,000.

Solutia's total stock to be outstanding after the offering has
increased to 83,677,688 shares, up 36% from the 61,369,996 shares
of common stock outstanding as of June 30, 2008.  This excludes:

     -- 2,906,167 shares of common stock issuable upon the
        exercise of outstanding stock options; and

     -- 4,481,250 shares of common stock issuable upon the
        exercise of outstanding warrants.

         Standard & Poor's Solutia Ratings Remain Unchanged

Standard and Poor's Ratings Services announced that it will not
change Solutia's B+/Stable/-- ratings as a result of the
company's public offering announcement.

According to S&P, it will review Solutia's ratings once its Nylon
business results in a sell-off.

"If that happens we will weigh the loss in earnings and cash flow
as a result of a potential sale against a potential decline in
debt.  In addition, we will also consider management's commitment
to maintaining or improving credit quality," S&P said.

S&P, a division of McGraw-Hill, publishes financial research and
analysis on stocks and bonds.  According to Wikipedia, S&P is
among the top three companies in that business, along with
Moody's and Fitch Ratings.

Wikipedia said that S&P is "well-known for its US-based S&P 500,
the Australian S&P/ASX 200 stock market index, the Canadian
S&P/TSX, the Italian S&P/MIB and India's S&P CNX Nifty."

                         About Solutia Inc.

Based in St. Louis, Missouri, Solutia Inc. (OTCBB: SOLUQ) (NYSE:
SOA-WI) -- http://www.solutia.com/-- and its subsidiaries,
manufactures and sells 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. Lead 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.  On Oct. 22, 2007,
the Debtor re-filed a Consensual Plan & Disclosure Statement and
on Nov. 29, 2007, the Court confirmed the Debtors' Consensual
Plan.  Solutia emerged from chapter 11 protection Feb. 28, 2008.

Solutia's US$2.05 billion exit financing facility was funded by
Citigroup Global Markets Inc., Goldman Sachs Credit Partners L.P.,
and Deutsche Bank Securities Inc.  The exit financing is being
used to pay certain creditors, and for ongoing operations.

(Solutia Bankruptcy News, Issue No. 130; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                            *     *     *

Standard & Poor's Ratings Services said its ratings on Solutia
Inc. (B+/Stable/--) will not change as a result of the company's
recent announcement of a public offering of common shares.


SOLUTIA INC: Hearing on DuPont Settlement Deal Set for Sept. 11
---------------------------------------------------------------
Judge Prudence C. Beatty of the U.S. Bankruptcy for the Southern
District of New York will convene a hearing September 11, 2008, to
consider approval of a settlement between E.I. DuPont de Nemours
and Company, Inc., and Solutia.

DuPont had asked the Court to compel the Debtors to pay a
US$1,394,718 administrative claim, pursuant a contract dated
January 1, 2002 and related agreements, under which DuPont sold
products on an exclusive basis to Solutia.  The parties' contract
contained provisions that if Solutia received an offer for the
same products from a third party at a lower price, Solutia could
demand that DuPont either match the price of the new offer or
release Solutia from further obligations to purchase products.  By
letter agreement dated March 31, 2006, Solutia and DuPont agreed
to the terms under which a third party auditor would make the
determination of whether Solutia properly invoked the "Meet or
Release" provision.  In August 2007, BDO Seidman, LLP, the third-
party auditor, reported that Solutia did not meet the terms of the
meet or release clause, resulting to DuPont's filings of
US$1,394,718 for payment of goods at prices provided for in their
original contract.

Solutia disputed the claim and argued that BDO's report was not
final and binding, and was still subject to Court review.

Representing DuPont, Alan L. Hill, Esq., at Phillips Lytle, LLP,
in New York, told Judge Beatty at a July 2008 hearing that DuPont
and Solutia, Inc., have reached an agreement.

Mr. Hill said, and Solutia's counsel confirmed, at the hearing
that the parties are in the process of executing certain
documents setting forth an informal discovery process with BDO.
"By this process, BDO is going to provide the parties with all
the documents that were provided to it in contemplation of the
arbitration, and it's going to provide a representative to
discuss the rationale behind the arbitration decision with the
two parties," Mr. Hill added.

Those documents are subject to certain confidentiality provisions
that have been agreed between DuPont and Solutia and BDO.

The process was said to have been completed by the week of August
18th to 22nd.

                         About Solutia Inc.

Based in St. Louis, Missouri, Solutia Inc. (OTCBB: SOLUQ) (NYSE:
SOA-WI) -- http://www.solutia.com/-- and its subsidiaries,
manufactures and sells 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. Lead 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.  On Oct. 22, 2007,
the Debtor re-filed a Consensual Plan & Disclosure Statement and
on Nov. 29, 2007, the Court confirmed the Debtors' Consensual
Plan.  Solutia emerged from chapter 11 protection Feb. 28, 2008.

Solutia's US$2.05 billion exit financing facility was funded by
Citigroup Global Markets Inc., Goldman Sachs Credit Partners L.P.,
and Deutsche Bank Securities Inc.  The exit financing is being
used to pay certain creditors, and for ongoing operations.

(Solutia Bankruptcy News, Issue No. 130; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                            *     *     *

Standard & Poor's Ratings Services said its ratings on Solutia
Inc. (B+/Stable/--) will not change as a result of the company's
recent announcement of a public offering of common shares.


SOLUTIA INC: Resolving Last Few Bankruptcy Claims, Counsel Says
---------------------------------------------------------------
On behalf of Solutia, Inc., Michael A. Cohen, Esq., at Kirkland &
Ellis LLP, told Judge Prudence C. Beatty of the U.S. Bankruptcy
Court for the Southern District of New York at a July 2008 hearing
that Solutia is working towards getting the "last few claims
resolved" in order to seek a final decree closing its Chapter 11
cases.

Mr. Cohen told the Court that aside from their agreement with
E.I. DuPont de Nemours and Company, the Debtors have reached a
settlement agreement with the Dickerson claim, and will present
the settlement to Judge Beatty upon the district court's approval
of the settlement.

"And we do have a few claims that are left out there, but we are
working to get those resolved in as efficient a manner as
possible with regard to the estate, and we're working with our
claim's monitor in that regard," Mr. Cohen stated.  "And it
really is a very small number of claims, especially for a case of
Solutia's size."

Judge Beatty said that she'd be extremely gratified if the entire
case could be closed by December 31, 2008, about 13 months since
the confirmation of Solutia's Reorganization Plan on
November 29, 2008.  Judge Beatty noted that NRG Energy, Inc.,
which were represented by Kirkland & Ellis, and Mr. Cohen in
their bankruptcy cases, was able to quickly close its Chapter 11
cases.  Mr. Cohen agreed to a Dec. 31 target for closing of
Solutia's Chapter 11 case.

Judge Beatty noted that Solutia won't continue paying fees to the
U.S. Trustee once it closes its Chapter 11 cases.

In a discussion with Mr. Cohen about how Solutia is doing post-
emergence, Judge Beatty said at the hearing that she'd expect
Solutia to continue to do well, notwithstanding the difficult
economic times in the United States., noting that some of its
products are not U.S. dependent, and the company could increase
prices because its products are not easily produced by other
firms.

                         About Solutia Inc.

Based in St. Louis, Missouri, Solutia Inc. (OTCBB: SOLUQ) (NYSE:
SOA-WI) -- http://www.solutia.com/-- and its subsidiaries,
manufactures and sells 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. Lead 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.  On Oct. 22, 2007,
the Debtor re-filed a Consensual Plan & Disclosure Statement and
on Nov. 29, 2007, the Court confirmed the Debtors' Consensual
Plan.  Solutia emerged from chapter 11 protection Feb. 28, 2008.

Solutia's US$2.05 billion exit financing facility was funded by
Citigroup Global Markets Inc., Goldman Sachs Credit Partners L.P.,
and Deutsche Bank Securities Inc.  The exit financing is being
used to pay certain creditors, and for ongoing operations.

(Solutia Bankruptcy News, Issue No. 130; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                            *     *     *

Standard & Poor's Ratings Services said its ratings on Solutia
Inc. (B+/Stable/--) will not change as a result of the company's
recent announcement of a public offering of common shares.



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

AIR JAMAICA: Says Flights Into US Won't be Canceled
---------------------------------------------------
Radio Jamaica reports that Air Jamaica said problems affecting the
Federal Aviation Authority's computers have not affected the
airline's flights into eastern U.S.

The report says over 5,000 planes in the U.S. were affected by a
computer glitch.  This forced many planes to stay on the air, the
same report says.

According to Radio Jamaica, Air Jamaica's Chairperson Shirley
Lewis said the airline is ?planning contingencies?.

Headquartered in Kingston, Jamaica, Air Jamaica --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government assumed full ownership of the airline after
an investor group turned over its 75% stake in late 2004.  The
government had owned 25% of the company after it went private in
1994.  The Jamaican government does not plan to own Air Jamaica
permanently.

                           *    *     *

As reported in the Troubled Company Reporter-Latin America on
June 12, 2007, Moody's Investors Service assigned a B1 rating
to Air Jamaica Limited's guaranteed senior unsecured notes.

On July 21, 2006, Standard & Poor's Rating Services assigned a
"B" long-term foreign issuer credit rating on Air Jamaica Ltd.,
which is equal to the long-term foreign currency sovereign
credit rating on Jamaica, based on the government's
unconditional guarantee of both principal and interest payments.


AIR JAMAICA: Sales & Marketing Senior VP, Paul Pennicook Resigns
----------------------------------------------------------------
Air Jamaica Senior Vice President of Sales and Marketing, Paul
Pennicook has resigned, Jamaica Gleaner reports.

Mr. Pennicook, who joined Air Jamaica in mid-2006, has served as
the airline's Director of Tourism, The Gleaner relates.
According to Professional Travel guide, Mr. Penicook succeeded
Basil Smith as Director of Tourism in 2006.

The Gleaner states that prior to joining the company, he was
president and chief executive officer in Couples Resorts
International for six years.  Mr. Pennicook has also served as
vice-president of the Jamaica Hotel and Tourist Association and
chairman of marketing committee.  He was also recently appointed
as chairman of the Emerging Markets Committee of the Jamaica
Tourist Board.  Mr. Pennicook graduated from Cornell University
and has 35 years experience in the hotel and travel industry, the
report said.

Mr. Pennicook did not disclose reason for his resignation, The
Gleaner said.

Headquartered in Kingston, Jamaica, Air Jamaica --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government assumed full ownership of the airline after
an investor group turned over its 75% stake in late 2004.  The
government had owned 25% of the company after it went private in
1994.  The Jamaican government does not plan to own Air Jamaica
permanently.

                            *    *     *

As reported in the Troubled Company Reporter-Latin America on
June 12, 2007, Moody's Investors Service assigned a B1 rating
to Air Jamaica Limited's guaranteed senior unsecured notes.

On July 21, 2006, Standard & Poor's Rating Services assigned a
"B" long-term foreign issuer credit rating on Air Jamaica Ltd.,
which is equal to the long-term foreign currency sovereign
credit rating on Jamaica, based on the government's
unconditional guarantee of both principal and interest payments.


CABLE & WIRELESS: Union Workers Give Ultimatum for Jamaican Unit
----------------------------------------------------------------
The University and Allied Workers Union at Cable & Wireless
Jamaica Ltd. has served an ultimatum to the management of the
company, giving it three days to pay its former employees,
Radio Jamaica reports.

According to the report, the union sent a letter to the company's
management saying it will provide a three-day deadline for
Cable & Wireless to pay the redundancy of the workers, and that
failure to do so would prove that the management is not intested
in making the payments.

Radio Jamaica relates the union is claiming the company has
withheld the workers' salaries since March and cites that there
were redundancy payments in April during its negotiation with
the company on May 15.

The union argues that workers whose redundancies became
effective on April are entitled to the retroactive payments and
severance payments included in their new salary rates, Radio
Jamaica says.

Headquartered in London, Cable & Wireless Plc
-- http://www.cw.com/new/-- operates through two standalone
business units -- International and Europe, Asia & US.  The
International business unit operates integrated
telecommunications companies in 33 countries, with principal
operations in the Caribbean, Panama, Macau, Monaco and the
Channel Islands.  The Europe, Asia & U.S. business unit provides
enterprise and carrier solutions to the largest users of
telecoms services across the U.K., U.S., continental Europe and
Asia -- and wholesale broadband services in the U.K.  The
company also has operations in India, China, the Cayman Islands
and the Middle East.

                          *     *     *

As reported in the Troubled Company Reporter-Europe on
May 26, 2008, Standard & Poor's Ratings Services revised its
outlook on Cable & Wireless PLC to developing from stable.  The
developing outlook means ratings can be raised, lowered, or
affirmed.  The 'BB-' long-term and 'B' short-term corporate
credit ratings remain unchanged.


DIGICEL LTD: MiPhone Blames Unit for Cell Tower Deal Breakdown
--------------------------------------------------------------
Digitel Limited unit Digicel Jamaica and rival MiPhone are blaming
each other for the breakdown of a reciprocal agreement brokered by
government that allows telecommunication companies to share cell
towers, The Jamaica Gleaner reports.

The report says MiPhone claims that Digicel Jamaica was denying it
access.

According to the report, the rivaly is starting to heat up as
Digicel denies the claim saying that MiPhone is not conforming to
rules.  Digicel owns more than 1,000 cell towers while MiPhone
aims to put up 600 towers in Jamaica.

The Gleaner quoted MiPhone chief operating officer Colin
Webster as saying that the agreement between has been in place
since 2007 when America Movil acquired MiPhone from Oceanic
Digital.

However, Rohan Pottinger, a Technology Director of Digicel,
is negating the claim saying there was a deal since 2003
between the two companies ang that the deal broke down due to
Miphone's failure in meeting requirements made by the Ministry
of Energy, Mining & Telecommunications, The Gleaner relates.

Sources disclosed to Wednesday Business that there is also an
agreemade made by Digicel and Cable & Wireless Jamaica and that
there were no problems between Miphone and C&WJ with sharing 90
cell towers, The Gleaner states, citing Mr. Pottinger.

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.  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.

                          *     *     *

In February 2007, Moody's Investors Service affirmed its Caa2
senior unsecured rating to Digicel Group Limited's
US$1.4 billion senior unsecured notes offering.



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

BHM TECHNOLOGIES: Committee Wants Letter Included Among Plan Docs
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the bankruptcy
cases of BHM Technologies Holdings, Inc., and its debtor-
affiliates asks the United States of Western District of Michigan
to approve a letter that detailed its position with respect to the
Joint Plan of Reorganization of the BHM Technologies Debtors as
containing adequate information under Section 1125 of the
Bankruptcy Code.  The Committee also asks the Court to direct the
Debtors to include the Letter with the Solicitation Packages or,
alternatively, authorize the Committee itself to send out the
Letter to the general unsecured creditors.

The Debtors have refused to include the Committee's letter in the
solicitation package that they will send to voting creditors,
because it contains qualifications and does not fully and
unconditionally supports the Plan, as amended.

Judith Greenstone Miller, Esq., at Jaffe Raitt Heuer & Weiss,
P.C., in Southfield, Michigan, relates that because of the cost
involved with sending out the Letter, as well as potential
confusion that might arise in connection with the Committee
sending out the Letter, the Committee prefers that the Letter be
included with the Solicitation Package.

Ms. Miller avers that the Committee Letter (i) contains accurate
and adequate information, (ii) will assist creditors in
determining how to vote on the Amended Plan, and (iii)
facilitates the Committee's compliance with its fiduciary duties
delineated in Section 1103(b) of the Bankruptcy Code.

In light of the Debtors' objection to the Letter, the Committee
is concerned that, absent seeking and obtaining the Court's
approval, it and its members will risk the imposition of claims
or liability from the Debtors.

Ms. Miller states it is important that the Committee be
authorized to send out the Letter because:

   (a) sending the Letter to the creditors is consistent with and
       complies with the fiduciary duty of a committee to "advise
       those represented by the committee of the committee's
       determinations as to any plan formulated" under Section
       1103(c)(3).

   (b) in a complex, large case of this type, creditors look to
       the committee regarding the plan, information about the
       plan, and the committee's assessment of the plan in
       determining and assisting them on how to vote on the plan.

   (c) it is unusual that a committee would not send a letter to
       creditors regarding its advice on a plan and failure to
       send a letter could negatively impact creditors with
       respect to how to vote on the plan.

   (d) sending a letter where the Amended Plan is complex,
       detailed, and confusing to a creditor, assists a creditor
       in determining how to vote on the Amended Plan.

                       The Committee Letter

     Dear Creditors:

          The Debtors filed voluntarily Chapter 11 petitions on
     May 19, 2008.  The U.S. Trustee appointed an Official
     Committee of Unsecured Creditors on June 5, 2008.  In accord
     with its prescribed duties, the Committee and its
     professionals have been consulting with the Debtors and
     their professionals regarding administration of the estates,
     the assets, liabilities and financial condition of the
     Debtors, the formulation of a plan, and other pertinent
     matters.

          The Debtors recently filed a Disclosure Statement and
     Joint Plan of Reorganization under Chapter 11 of the
     Bankruptcy Code.  The Court held a hearing on the adequacy
     of the information contained in the Disclosure Statement on
     August 7, 2008, at which time, the Court approved the
     Disclosure Statement, the Plan, and the exhibits thereto to
     be sent to creditors entitled to vote on the Plan.
     Therefore, you will be receiving a copy of the Plan and
     Disclosure Statement, along with a ballot, seeking your vote
     with respect to the Plan.

          The Plan is unusual in that it creates two separate
     classes of unsecured creditors.  One, class (Class U-2 under
     the Plan), unsecured trade creditors that are continuing to
     do business with the Debtors, will be entitled to receive
     100% cash payment on their Allowed Claims by means of six
     equal monthly payments once their claims are allowed.
     Unsecured creditors who do not fall into the definition of
     Class U-2 are separately classified into Class U-4, along
     with a group of other unsecured creditors.  This class is to
     receive shares of stock in the reorganized Debtors.  Class
     U-4 is dominated by the deficiency claims of the first and
     second lien holders who have voluntarily agreed to reduce
     their secured claims by tens of millions of dollars and who
     opted to have their unsecured claims treated as Class U-4
     claims.  Class U-4 also contains claims of those subject to
     rejection of their contracts, a noteholder, claimants in
     litigation and others.  There is meaningful legal authority
     supporting the Debtor's creation of the two classes of
     unsecured creditors.  Thus, even if the Committee elected to
     challenge that treatment, the outcome of that legal
     challenge is uncertain.  Specific reference and attention
     should be given to the Class U-2 and Class U-4 definitions
     in the Plan and the treatment afforded to members of those
     classes.

          The Plan is also unusual in that the Debtors had
     already negotiated its terms with the first and second lien
     lenders and the stockholders before the bankruptcy was
     filed, based on term sheets and plan support agreements.
     Moreover, the Plan proposes two types of plans: a "New
     Money" Plan and a "No New Money" Plan.  As part of the "New
     Money" Plan, Atlantic Equity Partners, the stockholder of
     the Debtors, placed US$12,500,000 in escrow to be used to fund
     the Plan as part of its plan support agreement.  Absent a
     "material adverse change" or failure to confirm the "New
     Money" Plan, the funds placed in escrow cannot be released
     and returned to AEP.  The Debtors presented the Plan as a
     foregone conclusion, in contrast to a more typical situation
     where the Plan is developed jointly with the Committee and
     other parties-in-interest.  Therefore, the Committee had an
     uphill battle in negotiating changes to the Plan against the
     already unified front of these significant parties.

          According to the Debtors, the "primary purpose of the
     Plan is to substantially de-leverage the Debtors' balance
     sheet and put into place a sustainable long-term capital
     structure under what is commonly referred to as a "leveraged
     buy-out."  The Plan provides for releases of claims against
     the participants in the leveraged buy-out transactions, in
     exchange for the concessions made by the first and second
     lien lenders, as well as the equity holders under the Plan.

          The Committee has reviewed the general structure of the
     leveraged buy-out transactions and the realistic
     alternatives available to the unsecured creditors.  While
     there is some possibility that the Committee could through
     litigation attack and unwind the leveraged buy-out
     transactions, that battle could threaten the profitability
     or size of the Debtors' business, or even its continued
     viability.  In addition, success in this effort would not
     necessarily translate into a greater return to unsecured
     creditors than that offered in the Plan.  The success of the
     Debtors' business so that it would have the ability to make
     any payments to unsecured creditors, and the relative
     return to unsecured creditors, as well as the likelihood of
     success in objecting to the Plan, were important factors in
     the Committee's deliberations.

          Despite the referenced difficulty in negotiating any
     changes to the Plan, the Committee was successful in
     extracting important concessions from the Debtors regarding
     the Plan.  Specifically, the Committee was able to: (a)
     ensure a specific date for the commencement of payment and
     issuance of shares to Class U-2 and Class U-4 creditors,
     respectively; (b) clarify (and in the Committee's opinion
     significantly expand) the number and types of creditors
     falling into Class U-2; (c) obtain a waiver of the Debtors'
     ability to bring in excess of US$60,000,000 of potential
     preference claims against unsecured creditors; and (d) limit
     certain setoff rights of the Debtors and preserve certain
     statutory lien rights.

          With these modifications of the Plan, the Committee
     believes: (a) that the Plan provides a far greater benefit
     to unsecured creditors generally than a liquidation of the
     Debtors; (b) that the Plan provides a significant return for
     the vast majority in number of the unsecured creditors,
     those in Class U-2); and (c) if the Plan structure dividing
     the unsecured creditors into two classes is found to be
     unconfirmable, the dividend to Class U-2 unsecured creditors
     would be significantly less, the stock issuance to Class U-4
     may not occur and there would be a very substantial risk
     that the reorganization would fail, based on the Plan
     support agreements unwinding and the "New Money" provided by
     AEP would be lost.  That would leave unsecured creditors
     with the prospect of having to pursue the leveraged buy-out
     claims and seek a litigated resolution of their unsecured
     claims.

          Considering all of the foregoing facts and
     circumstances, the Committee supports approval of the Plan.

          The Committee urges each unsecured creditor to
     carefully review and analyze the Plan and its terms.  The
     Committee would be pleased to respond to any questions that
     you have regarding the Disclosure Statement, the Plan or
     this letter.  If you have any questions, please contact Jay
     L. Welford or Judith Greenstone Miller, the Committee's
     counsel at (248) 351-3000 or email them at
     jwelford@jaffeelaw.com or jmiller@jaffelaw.com or via
     facsimile at (248) 351-3082.

                                    Very truly yours,

                               The Official Committee of
                                 Unsecured Creditors of
                         BHM Technologies Holdings, Inc., et al.

     cc:   Jay L. Welford
           Judith Greenstone Miller
           The Members of the Committee
           Chanin Capital Partners

Headquartered in Ionia, Michigan, BHM Technologies Holdings
Inc. -- http://www.browncorp.com/-- manufactures and sells
automobile parts including air bags and electrical systems.  It
has manufacturing facilites in Mexico and operates under Brown
Corp.

BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr.
W.D. Mich. Lead Case No. 08-04413).  Hannah Mufson McCollum,
Esq., Kay Standridge Kress, Esq., Robert S. Hertzberg, Esq., and
Leon R. Barson, Esq. of Pepper Hamilton LLP, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for bankruptcy, it listed estimated assets and debts to be both
between US$100 million and US$500 million.

The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan.

(BHM Technologies Bankruptcy News; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


BHM TECHNOLOGIES: Court Approves Chanin as Committee Advisor
------------------------------------------------------------
The United States Bankruptcy Court for the Western District of
Michigan approved the retention of Chanin Capital Partners as the
financial advisor of the Official Committee of Unsecured Creditors
of BHM Technologies Holdings, Inc., and its debtor-subsidiaries.

The Court says that based upon the testimony and other evidence
it received on August 7, 2008, it will not deny Chanin Capital
Partners' financial expertise and independent advice on matters
crucial to the Official Committee of Unsecured Creditors'
statutory and fiduciary role.

The Court adds that he understands and shares the concerns of
the Debtors' First Lien Lenders, including the multiplier effect
and need to minimize professional expenses but disagrees with the
suggestion that the Committee can rely on information transmitted
to it by the Debtors' financial advisors, without the independent
advice to assist the Committee in digesting the information, is
doubtful.  The argument that the Committee can rely on
AlixPartners, LLP, and Rothschild Inc., the Debtor's court-
appointed advisors, confuses financial information with
professional advice, the Court says.

The Court says that:

   (a) Chanin's retention is necessary to permit the Committee to
       fulfill its statutory and fiduciary role;

   (b) Chanin is a fitting choice; and

   (c) the proposed compensation arrangement is reasonable,
       subject to the procedures and requirements of Section 330
       of the Bankruptcy Code and related authorities.

Headquartered in Ionia, Michigan, BHM Technologies Holdings
Inc. -- http://www.browncorp.com/-- manufactures and sells
automobile parts including air bags and electrical systems.  It
has manufacturing facilites in Mexico and operates under Brown
Corp.

BHM Technologies Holdings, Inc. and 14 affiliates filed separate
voluntary petitions under Chapter 11 on May 19, 2008 (Bankr.
W.D. Mich. Lead Case No. 08-04413).  Hannah Mufson McCollum,
Esq., Kay Standridge Kress, Esq., Robert S. Hertzberg, Esq., and
Leon R. Barson, Esq. of Pepper Hamilton LLP, represent the
Debtors in their restructuring efforts.  When the Debtors filed
for bankruptcy, it listed estimated assets and debts to be both
between US$100 million and US$500 million.

The Debtors have until Sept. 16, 2008, to exclusively file their
bankruptcy plan.

(BHM Technologies Bankruptcy News; Bankruptcy Creditors' Service
Inc., http://bankrupt.com/newsstand/or 215/945-7000)


SEMGROUP LP: Bominflot Insists Ownership of Fuel Oil
----------------------------------------------------
Debtor SemMaterials, L.P., ordered on July 8, 2008, 7,500 barrels
of No. 6 Fuel Oil from Bominflot Atlantic, L.L.C., which markets
bunker fuel to marine vessels.  SemMaterials requested the
transfer of the Fuel from Bominflot's tank to SemMaterials' tank
on July 10.

Bominflot asked Judge Brendan L. Shannon of the U.S. Bankruptcy
Court for the District of Delaware to determine that Bominflot is
the equitable owner of the Fuel, and require SemMaterials to
return the Fuel.

Representing Bominflot, Daniel K. Astin, Esq., at Ciardi Ciardi &
Astin, P.C., in Wilmington, Delaware, told the Court that
following the Transfer, SemMaterials may have removed a certain
amount of Fuel, leaving a residuary amount in the SemMaterials
tank.

On July 16, 2008, Bominflot invoiced SemMaterials for the total
amount of US$837,015, consistent with the ordinary practice in
transactions between the parties.

Upon learning of the Debtors' liquidity troubles, Eugene Owen,
Bominflot's vice-president, called SemMaterials to for assurance
of payment of the Invoice.  Kevin Clement, SemMaterials' vice-
president of supply and marketing, informed Mr. Owen that the
Invoice will be paid in full on July 18, in accordance with the
contractual terms on the Invoice.

Bominflot complained that on July 18, 2008, the Invoice remained
unpaid.  Bominflot demanded the return of the Fuel, but
SemMaterials refused.  SemMaterials falsely assured Bominflot of
payment and misrepresented its solvency, Bominflot asserts.
Bominflot commenced a proceeding in the Circuit Court for the
City of Chesapeake, Virginia, seeking to enforce its reclamation
rights and right to payment of US$350,000 in punitive damages.

A. Bominflot Wants Stay Lifted

The Troubled Company Reporter said on July 31, 2008, that
Bominflot entered into a sale contract with Debtor SemMaterials,
L.P., on July 8, 2008, for the sale of 7,507 barrels of fuel oil,
totaling US$837,015.  At SemMaterials' direction, the Fuel Oil was
transferred from Bominflot's Shore Tank 603 to Shore Tank 701,
located at a tank storage facility in Chesapeake, Virginia.  The
transfer took place from July 9 to July 10.

B. SemMaterials, BofA Respond

SemMaterials, L.P., argued that Bominflot Atlantic, L.L.C.'s
motion to pursue its reclamation claim in a state court action
violates Section 546(c) of the Bankruptcy Code, which provides
for the exclusive remedy for a seller to reclaim goods from a
debtor in bankruptcy.

SemMaterials insisted that Bominflot has not alleged any fact that
makes its situation different from any other creditor in the
Debtors' Chapter 11 cases.  SemMaterials further stated that the
Debtor's estates will suffer substantial harm if the automatic
stay is modified, since they will have to expend funds in
defending against Bominflot's claim.

Bank of America, N.A., as administrative agent for the Debtors'
prepetition lenders, opposed Bominflot's request, stating that
Bominflot's liens as a secured party are superior to Bominflot's
reclamation claim.  Since Bominflot's reclamation rights are
subordinate, Bominflot cannot demonstrate a cause for relief from
the automatic stay, BofA asserted.

Moreover, BofA asserted that lifting the automatic stay to allow
"piecemeal litigation" will severely prejudice the Debtors'
estate and its creditors.

SemMaterials and BofA asked the Court to deny Bominflot's motion
for relief from the automatic stay.

                        About SemGroup L.P.

SemGroup L.P. -- http://www.semgrouplp.com/-- is a midstream
service company providing the energy industry means to move
products from the wellhead to the wholesale marketplace.  SemGroup
provides diversified services for end users and consumers of crude
oil, natural gas, natural gas liquids, refined products and
asphalt.  Services include purchasing, selling, processing,
transporting, terminaling and storing energy.  SemGroup serves
customers in the United States, Canada, Mexico, Wales, Switzerland
and Vietnam.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq. at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq. and Sherri L. Toub, Esq. at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq. and Sylvia A.
Mayer, Esq. at Weil Gotshal & Manges LLP, represent the Debtors in
their restructuring efforts.  Kurtzman Carson Consultants L.L.C.
is the Debtors' claims agent.  The Debtors' financial advisors are
The  Blackstone Group L.P. and A.P. Services LLC.  Margot B.
Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye Scholer
LLP; and Laurie Selber Silverstein, Esq., at Potter Anderson &
Corroon LLP, represent the Debtors' prepetition lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.
The CCAA stay expires on Aug. 20, 2008.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed US$5,429,038,000 in total assets and
US$5,033,214,000 in total debts.  In their petition, they showed
more than US$1,000,000,000 in estimated total assets and more than
US$1,000,000,000 in total debts.

(SemGoup Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEMGROUP LP: Reserves US$1,100,000 for 230 Laid-Off Employees
-------------------------------------------------------------
SemGroup, L.P., and its debtor-affiliates had sought the
permission of Judge Brendan L. Shannon of the U.S. Bankruptcy
Court for the District of Delaware to pay US$1,100,000 in
severance
packages, averaging to two weeks' salary, to about 276 of their
employees.

On Aug. 11, 2008, SemGroup laid off more than 100 employees
from its office in Tulsa, Oklahoma, and 120 employees from its
other offices in the United States.  According to The Tulsa
World, the US$1,100,000 severance packages, if approved, will be
used to pay the laid off employees.

In SemGroup's Chapter 11 Petition, Terrence Ronan, the company's
senior vice president of finance, told Judge Shannon that the
company anticipates to lay off 276 employees who do not have
employment contracts with SemGroup or any of its affiliates.
Officials have also indicated that all SemGroup LP employees
likely will be laid off eventually, or will join asset
purchasers, The Tulsa World said.

Prior to August 11, SemGroup employed 400 people in Tulsa, and
2,000 nationwide.  Mr. Ronan said in his affidavit supporting
SemGroup's Chapter 11 Petition that the workforce reduction is
part of the company's cost-saving measures to manage its
liquidity crisis.  SemGroup spokeswoman Brenda Adrian told The
Tulsa Work that the layoffs were handled individually, and were
"across the board" of the company's subsidiaries.

It's a difficult decision every time you have to lay anybody off,
Ms. Adrian told The Tulsa World.  "This is a very challenging
environment that SemGroup is dealing with."

Dan Safranek, a Tulsa financial investment adviser, told The
Tulsa World that the layoffs may give a hint into the short-term
future.  The US$250,000,000 DIP loan sought by the company was
intended to keep the company afloat, but the layoffs may mean
that there are potential buyers of the company, the newspaper
stated.

                        About SemGroup L.P.

SemGroup L.P. -- http://www.semgrouplp.com/-- is a midstream
service company providing the energy industry means to move
products from the wellhead to the wholesale marketplace.  SemGroup
provides diversified services for end users and consumers of crude
oil, natural gas, natural gas liquids, refined products and
asphalt.  Services include purchasing, selling, processing,
transporting, terminaling and storing energy.  SemGroup serves
customers in the United States, Canada, Mexico, Wales, Switzerland
and Vietnam.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq. at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq. and Sherri L. Toub, Esq. at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq. and Sylvia A.
Mayer, Esq. at Weil Gotshal & Manges LLP, represent the Debtors in
their restructuring efforts.  Kurtzman Carson Consultants L.L.C.
is the Debtors' claims agent.  The Debtors' financial advisors are
The  Blackstone Group L.P. and A.P. Services LLC.  Margot B.
Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye Scholer
LLP; and Laurie Selber Silverstein, Esq., at Potter Anderson &
Corroon LLP, represent the Debtors' prepetition lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.
The CCAA stay expires on Aug. 20, 2008.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed US$5,429,038,000 in total assets and
US$5,033,214,000 in total debts.  In their petition, they showed
more than US$1,000,000,000 in estimated total assets and more than
US$1,000,000,000 in total debts.

(SemGoup Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEMGROUP LP: Samson Asserts US$39,740,100 in Unpaid Oil and Gas
---------------------------------------------------------------
Samson Resources Company, together with Samson Lone Star, LLC,
and Samson Contour Energy E&P, LLC, operates numerous wells in
Colorado, Kansas, Louisiana, New Mexico, North Dakota, Oklahoma,
Texas, and Wyoming.  Samson sold oil and gas to SemGroup, L.P. and
its debtor-affiliates, pursuant to six purchase agreements:

   Agreement                Debtor Counterparty
   ---------                -------------------
   Domestic crude oil       Seminole Transportation and Gathering
   Domestic crude oil       SemCrude, L.P.
   Domestic crude oil       Eaglwing Trading, Inc.
   Domestic crude oil       Eaglwing, L.P.
   Purchase Agreement       Samson Contour
   Gas purchase contract    Warren NGL, Inc./Dynegy Midstream
                            Services, L.P.

Under the agreements, Samson agreed to sell oil and gas to the
Debtors as first purchaser on a monthly basis, and the Debtors
agreed to remit payment on the 20th day of the month following
the purchase.  Samson sold oil and gas to the Debtors until
July 18, 2008, when Samson asserted its contractual rights for
adequate assurance of payment and suspended the sales.

Samson complained that the Debtors have not paid for the oil and
gas sold from June 1 to July 18, 2008, which totals US$39,740,100.
Samson asserted that the Debtors had acquired limited amounts of
the oil and gas, even after it notified the Debtors of the
suspension.

Samson asked the U.S. Bankruptcy Court for the District of
Delaware to enter an injunction, requiring the Debtors, Bank of
America, N.A., to segregate the proceeds in their possession from
any sale of the oil and gas acquired from Samson.

                        About SemGroup L.P.

SemGroup L.P. -- http://www.semgrouplp.com/-- is a midstream
service company providing the energy industry means to move
products from the wellhead to the wholesale marketplace.  SemGroup
provides diversified services for end users and consumers of crude
oil, natural gas, natural gas liquids, refined products and
asphalt.  Services include purchasing, selling, processing,
transporting, terminaling and storing energy.  SemGroup serves
customers in the United States, Canada, Mexico, Wales, Switzerland
and Vietnam.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq. at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq. and Sherri L. Toub, Esq. at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq. and Sylvia A.
Mayer, Esq. at Weil Gotshal & Manges LLP, represent the Debtors in
their restructuring efforts.  Kurtzman Carson Consultants L.L.C.
is the Debtors' claims agent.  The Debtors' financial advisors are
The  Blackstone Group L.P. and A.P. Services LLC.  Margot B.
Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye Scholer
LLP; and Laurie Selber Silverstein, Esq., at Potter Anderson &
Corroon LLP, represent the Debtors' prepetition lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.
The CCAA stay expires on Aug. 20, 2008.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed US$5,429,038,000 in total assets and
US$5,033,214,000 in total debts.  In their petition, they showed
more than US$1,000,000,000 in estimated total assets and more than
US$1,000,000,000 in total debts.

(SemGoup Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


SEMGROUP: US$2MM Eaglwing Funds Not Part of Estate, Vess Oil Says
-----------------------------------------------------------------
Vess Oil Corporation and Debtor Eaglwing, L.P., agreed on an
arrangement, under which Eaglwing, along with IMS, its independent
contractor, provided the payor services related to the sale of
Kurten Field Products.

Vess Oil Corporation operates oil and gas wells in Texas,
including producing properties in Kurten Field in Brazos County,
Texas.  Vess operates the Kurten Field and has an affiliated
ownership under the name VOC Brazos Energy partners, L.P.

As part of the Eaglwing Arrangement, SemGroup, L.P. and Eaglwing
directed IMS to provide the division of interest calculations and
the check preparation services, related to the sale of the Kurten
Field Products.  Payments from the gas and liquids purchaser were
made directly to Vess.  Vess paid the gas revenue to Eaglwing on a
monthly basis, for disbursement to the royalty and working
interest owners.

In March 2005, Vess entered an agreement with Teppco Crude Oil
LLC for the purchase of Kurten Field Products.  Under the
Eaglwing Arrangement, Teppco was directed to pay directly to
Eaglwing, which will remit the net amount directly to the Vess
Group.

According to Karen Bifferato, Esq., at Connoly Bove Lodge & Hutz
LLP in Wilmington, Delaware, during the 30-day hold period,
Eaglwing collected interest on the funds received from Teppco and
Vess.  Michael Vess, president of Vess, had contacted the Debtors
and asked to discontinue the monthly service fees, stating that
as Eaglwing received payments from Teppco and Vess, it benefited
from holding the cash funds for approximately 30 days.  The
Debtors had agreed to stop invoicing Vess for the monthly fee in
lieu of returning the Eaglwing' interest on holding the Funds.

Ms. Bifferato told the U.S. Bankruptcy Court for the District of
Delaware that the Vess Group has not received the US$2,860,583
distribution payment from Eaglwing for May 2008, which was due to
be paid on July 20, 2008.  She Bifferato maintained that Eaglwing
held the Funds in trust for the benefit of the Vess Group, and was
required to transfer the Funds on 20th day of each month.  Ms.
Bifferato emphasized that the Funds did not constitute a property
of the Debtors.

Eaglwing has refused to respond to Vess' demands to turn over the
Funds.  Accordingly, Vess asked the Court to:

   -- declare that the Funds are not part of the Debtors' estate;
   -- require an accounting from the Debtors;
   -- require the Debtors to turn over the Funds to Vess; and
   -- award the attorneys' fees and costs of Vess.

                        About SemGroup L.P.

SemGroup L.P. -- http://www.semgrouplp.com/-- is a midstream
service company providing the energy industry means to move
products from the wellhead to the wholesale marketplace.  SemGroup
provides diversified services for end users and consumers of crude
oil, natural gas, natural gas liquids, refined products and
asphalt.  Services include purchasing, selling, processing,
transporting, terminaling and storing energy.  SemGroup serves
customers in the United States, Canada, Mexico, Wales, Switzerland
and Vietnam.

SemGroup L.P. and its debtor-affiliates filed for Chapter 11
protection on July 22, 2008 (Bankr. D. Del. Lead Case No.
08-11525).  John H. Knight, Esq., L. Katherine Good, Esq. and Mark
D. Collins, Esq. at Richards Layton & Finger; Harvey R. Miller,
Esq., Michael P. Kessler, Esq. and Sherri L. Toub, Esq. at Weil,
Gotshal & Manges LLP; and Martin A. Sosland, Esq. and Sylvia A.
Mayer, Esq. at Weil Gotshal & Manges LLP, represent the Debtors in
their restructuring efforts.  Kurtzman Carson Consultants L.L.C.
is the Debtors' claims agent.  RUS$The Debtors' financial advisors
are The  Blackstone Group L.P. and A.P. Services LLC.  Margot B.
Schonholtz, Esq., and Scott D. Talmadge, Esq., at Kaye Scholer
LLP; and Laurie Selber Silverstein, Esq., at Potter Anderson &
Corroon LLP, represent the Debtors' prepetition lenders.

SemGroup L.P.'s affiliates, SemCAMS ULC and SemCanada Crude
Company, sought protection under the Companies' Creditors
Arrangement Act (Canada) on July 22, 2008.  Ernst & Young, Inc.
The CCAA stay expires on Aug. 20, 2008.

SemGroup L.P.'s consolidated, unaudited financial conditions as of
June 30, 2007, showed US$5,429,038,000 in total assets and
US$5,033,214,000 in total debts.  In their petition, they showed
more than US$1,000,000,000 in estimated total assets and more than
US$1,000,000,000 in total debts.

(SemGoup Bankruptcy News; Bankruptcy Creditors' Service, Inc.,
http://bankrupt.com/newsstand/or 215/945-7000)


VITRO SAB: Sets New Closing Date for Shares Purchase on Jan. 10
---------------------------------------------------------------
Vitro S.A.B. de C.V.'s subsidiary Vimexico, S.A. de C.V.
(Vimexico), in conjunction with the Prado Family members and
Invergar Participaciones Inmobiliarias, S.L., its joint venture
partners in its Spanish subsidiary Vitro Cristalglass, S.L.,
agreed to establish January 10, 2009, as the new closing date for
the purchase by Vimexico of its joint venture partners' 40 percent
stake in Vitro Cristalglass.  The transaction is estimated at
EUR$31 million.

Vitro Cristalglass, part of Vitro's Flat Glass business unit, is
the industry leader in the manufacturing, distribution and
marketing of specialty glass for the construction industry in
Spain and Portugal.  It also participates in the French
construction industry through  its subsidiary Vitro Cristaglass
France.

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a
leading global glass producer, serving the construction and
automotive glass markets and glass containers needs of the food,
beverage, wine, liquor, cosmetics and pharmaceutical industries.

                            *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 27, 2008, Standard & Poor's Ratings Services revised its
outlook on Vitro S.A.B. de C.V. to negative from stable.  At the
same time S&P affirmed its 'B' long-term corporate credit and
senior unsecured ratings on Vitro.

As reported in the Troubled Company Reporter-Latin America on
April 30, 2008, Fitch affirmed Vitro, S.A.B. de C.V.'s Foreign
currency issuer default rating at 'B'; Local currency issuer
default rating at 'B'; and Senior unsecured notes due in 2012,
2013 and 2017 at 'B+/RR3'.



=======
P E R U
=======

BUNGE LTD: CEO to Address Lehman Brothers Conference On Sept. 3
---------------------------------------------------------------
Bunge Limited Chairperson and Chief Executive Officer, Alberto
Weisser and Chief Financial Officer, Jacqualyn Fouse will
address the Lehman Brothers Back-to-School Conference in Boston
on Sept. 3, 2008, at 9:00 a.m.

The presentation will be webcast live at: http://www.Bunge.com.

To access the webcast, click on the "News and Information" link
on the Bunge homepage then select "Webcasts and Upcoming
Events".  Click on the link for the "Lehman Brothers
Back-to-School Conference".

A replay of the webcast, available later in the day, will be
archived on the Bunge Web site.  To access the replay, go to
"News and Information", select the "Audio Archive" link and
follow the prompts to access the presentation.

Headquartered in White Plains, New York, Bunge Ltd. (NYSE: BG)
is a global agribusiness company which supplies fertilizer to
farmers, originates, transports and processes oilseeds, grains
and other agricultural commodities worldwide, produces food
products for commercial customers and consumers, and supplies
raw materials and services to the biofuels industry in South
America and Asia.  The company has operations in Brazil, Peru
and Argentina.

                          *      *      *

As reported in the Troubled Company Reporter-Latine America on
July 31, 2008, Moody's Investors Service changed the outlook for
Bunge Ltd.'s long-term debt to stable from negative, including
the guaranteed debt of subsidiaries rated Baa2; and the
preferred stock of Bunge Ltd., rated Ba1.  The rating outlook
for the senior long-term debt of Corn Products International,
Inc., rated Baa2, also was changed to stable from negative.



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

HECTOR JIMENEZ: Case Summary & 6 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Hector Jimenez Ramos
         Calle 6 Numero 17
         Extension Quintas De Monserrate
         Ponce, PR 00731

Bankruptcy Case No.: 08-05383-11

Chapter 11 Petition Date: August 20, 2008

Court: District of Puerto Rico (Old San Juan)

Debtor's Counsel: Modesto Bigas Mendez, Esq.
                   (modesto@coqui.net)
                   Bigas & Bigas
                   P.O. BOX 7462
                   Ponce, PR 00732
                   Tel: (787) 844-1444

Total Assets: US$5,661,512

Total Debts: US$888,593

A copy of the Debtor's petition is available for free at:

            http://bankrupt.com/misc/prb08-05383-11.pdf


RELIABLE MEDICAL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Reliable Medical Equipment Corp
         P.O. Box 195317
         San Juan, PR 00919

Bankruptcy Case No.: 08-05353-11

Chapter 11 Petition Date: August 19, 2008

Court: District of Puerto Rico (Old San Juan)

Debtor's Counsel: Juan A. Santos Berrios, Esq.
                   (jsantosb@prtc.net)
                   Law Offices of Juan A. Santos Berrios PSC
                   P.O. Box 9102
                   Humacao, PR 00792-9102
                   Tel: 787-285-1001
                   Fax: 787-285-8358

Total Assets: US$1,439,825

Total Debts: US$1,694,910

A copy of the Debtor's petition is available for free at:

            http://bankrupt.com/misc/prb08-05353-11.pdf



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

HINDU CREDIT: Harry Harnarine Says He is Prepared to Go to Jail
---------------------------------------------------------------
Hindu Credit Union Co-Operative Society Ltd. president, Harry
Harnarine, said at a press conference that he is prepared to go to
jail for contempt of court, Trinidad and Tobago Guardian reports.

The report says Mr. Harnarine called the conference after
Commissioner Charles Mitchell served him an affidavit on Aug. 26.
Mr. Harnarine said he is prepared to disclose financial details
despite Judge Nolan Bereaux's order not to publish them.

The Guardian relates, citing Mr. Mitchell, that a document from
Ernst and Young, titled "Status report?discussion paper not for
distribution?draft", was given to Justice Bereaux on July 23
during an ex-parte injunction granting the commissioner to
turnover HCU to receiver, Ramdath Dave Rampersad.

According to the report, the irate HCU president denied the
written report, with his attorney Odai Ramischand, saying Mr.
Mitchell and the auditors insisted the report was oral.  Mr.
Harnarine, further said he was "entitled to a copy of that report
because it affects a lot of shareholders".

"If I have to pay the price in prison for contempt to bring out
the truth, I will do it.  The judge said don?t disclose details
of the finances of the HCU to the public, but I will release it.
I hope the Government is not involved, along with other religious
groups," The Guardian quoted Mr. Harnarine as saying.

Mr. Mitchell stated that the 15-page report, presented by Maria
Daniel of Ernest and Young and lodged in the court with Senior
Counsel, Reginald Armour on July 23, 2008, was consistent with
his duty as an an ex-parte applicant to fully disclose the
report.  The affidavit was lodged but not filed due to the
sensitive and confidential information contained therein which
could compromise section 4 (of the Cooperatives Societies Act)
inquiry, The Guardian notes.

Headquartered in Borough, Chaguanas, Hindu Credit Union Co-
Operative Society Limited -- www.ourhcu.com -- reportedly has
between US$115.2 million and US$131.6 million in assets and a
total of US$32.9 million in liabilities.  It has a membership
totaling more than 200,000.

                              *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 28, 2008, the High Court of Trinidad and Tobago granted the
government full control of Hindu Credit as the company faces
financial difficulties, leaving depositors in limbo despite
requests from lawyers.  In June 2008, chartered accountants
Ernst and Young inspected Hindu Credit's books, accounts, and
records after a public outcry and calls for an internal audit.
Charles Mitchell, the Commissioner for Co-Operative Development,
represents Hindu Credit's depositors.



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

NORTHWEST AIRLINES: To Utilize Delta Global Services
----------------------------------------------------
In light of its proposed merger with Delta Air Lines, Inc.,
Northwest Airlines Corp. ended its contract with French-owned
Worldwide Flight Services for ground services at Bradley
International Airport, and decided to use Delta Global Services, a
Delta subsidiary, Courant.com reports.

Delta spokeswoman Susan Elliott has stated that Delta Global won
the Contract in competitive bidding.  With Northwest's reduced
schedule at Bradley Airport, Worldwide's services are no longer
necessary, Northwest's Vice President for Communications Tammy
Lee told Courant.com.

As a result of the canceled Agreement, Worldwide told the
Department of Labor that it plans to shut down operations at the
Bradley Airport effective October 2, 2008, and contemplates 74
job cuts, says the report.

Delta Global plans to employ 30 additional employees at Bradley
Airport, and are considering Worldwide's workers who are
represented by the Transport Workers Union of America, Ms.
Elliott said.

Worldwide employees have "hard-to-obtain" security clearances;
hence the Union is "cautiously optimistic" that they would find
work with Delta, Courant.com says, quoting Union spokesperson
Jamie Horwitz.

                           About Delta Air

Based in Atlanta, Georgia, Delta Air Lines Inc. (NYSE: DAL) --
http://www.delta.com/-- is the world's second-largest airline
in terms of passengers carried and the leading U.S. carrier
across the Atlantic, offering daily flights to 328 destinations
in 56 countries on Delta, Song, Delta Shuttle, the Delta
Connection carriers and its worldwide partners.  Delta flies to
Argentina, Australia and the United Kingdom, among others.

The company and 18 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17923).
Marshall S. Huebner, Esq., at Davis Polk & Wardwell, represents
the Debtors in their restructuring efforts.  Timothy R. Coleman
at The Blackstone Group L.P. provides the Debtors with financial
advice.  Daniel H. Golden, Esq., and Lisa G. Beckerman, Esq., at
Akin Gump Strauss Hauer & Feld LLP, provide the Official
Committee of Unsecured Creditors with legal advice.  John
McKenna, Jr., at Houlihan Lokey Howard & Zukin Capital and James
S. Feltman at Mesirow Financial Consulting, LLC, serve as the
Committee's financial advisors.

The Debtors filed a chapter 11 plan of reorganization and
disclosure statement explaining that plan on Dec. 19, 2007.  On
Jan. 19, 2007, they filed revisions to the plan and disclosure
statement, and submitted further revisions to the plan on
Feb. 2, 2007.  On Feb. 7, 2007, the Court approved the Debtors'
disclosure statement.  In April 25, 2007, the Court confirmed the
Debtors' plan.  That plan became effective on April 30, 2007.  The
Court entered a final decree closing 17 cases on Sept. 26, 2007.
(Delta Air Lines Bankruptcy News, Issue No. 106; Bankruptcy
Creditors' Service, Inc., http://bankrupt.com/newsstand/or
215/945-7000)

                      About Northwest Airlines

Northwest Airlines Corp. (NYSE: NWA) -- http://www.nwa.com/--
is the world's fourth largest airline with hubs at Detroit,
Minneapolis/St. Paul, Memphis, Tokyo and Amsterdam, and about
1,400 daily departures.  Northwest is a member of SkyTeam, an
airline alliance that offers customers one of the world's most
extensive global networks.  Northwest and its travel partners
serve more than 1000 cities in excess of 160 countries on six
continents.  Northwest and its travel partners serve more than
1000 cities in excess of 160 countries on six continents,
including Italy, Spain, Japan, China, Venezuela and Argentina.

The company and 12 affiliates filed for chapter 11 protection on
Sept. 14, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-17930).  Bruce
R. Zirinsky, Esq., and Gregory M. Petrick, Esq., at Cadwalader,
Wickersham & Taft LLP in New York, and Mark C. Ellenberg, Esq.,
at Cadwalader, Wickersham & Taft LLP in Washington, represent the
Debtors in their restructuring efforts.  The Official Committee
of Unsecured Creditors has retained Scott L. Hazan, Esq., at
Otterbourg, Steindler, Houston & Rosen, P.C. as its bankruptcy
counsel in the Debtors' chapter 11 cases.  When the Debtors filed
for bankruptcy, they listed US$14.4 billion in total assets and
US$17.9 billion in total debts.  On Jan. 12, 2007, the Debtors
filed with the Court their chapter 11 plan.  On Feb. 15, 2007, the
Debtors filed an amended plan and disclosure statement.  The Court
approved the adequacy of the Debtors' amended disclosure statement
on March 26, 2007.  On May 21, 2007, the Court confirmed the
Debtors' amended plan.  That amended plan took effect May 31,
2007.

(Northwest Airlines Bankruptcy News; Bankruptcy Creditors'
Service, Inc., http://bankrupt.com/newsstand/or 215/945-7000)

                            *     *     *

As reported in the Troubled Company Reporter on July 29, 2008,
Standard & Poor's Ratings Services lowered its ratings on
Northwest Airlines Corp. and subsidiary Northwest Airlines Inc.
(both rated B/Negative/--), including lowering the long-term
corporate credit ratings on both entities to 'B' from 'B+', and
removed the ratings from CreditWatch, where they had been placed
with negative implications April 15, 2008.  The outlook is
negative.

The downgrade reflects expected losses and reduced or negative
operating cash flow caused by high fuel prices.  S&P also lowered
our ratings on enhanced equipment trust certificates, in some
cases by more than one notch.


PETROLEOS DE VENEZUELA: Increases Supply Capacity for El Tablazo
----------------------------------------------------------------
The Management of Transoceanic Gas Pipeline, Antonio Ricaurte
Run, worked on relocation of a pipeline stretching from Ramon
Laguna station to Ana Maria Campos Petrochemical Complex, located
on the Eastern coast of Lake Maracaibo, western Zulia state.

The works undertaken by the Petroleos de Venezuela S.A. subsidiary
to increase transportation capabilities from the transoceanic
system through the fertilizers plant at Ana Marķa Campos
Petrochemical Complex aimed at securing the supply of 50 million
cubic meter of gas per day, needed to produce 90 metric tons per
day of urea.  This component is used as raw material for the
fertilizers manufactured by Pequiven, which are indispensable for
crops and food production.

The works on cut and connection of the gas pipeline were executed
by 65 professionals, who were responsible for the laying, welding,
coating and quality control to ensure a safe system.

                     Petrochemical Revolution

At the beginning, this system encompassed 26 kilometers of
12?-diameter pipes.  The actions of the gas business helped to
enlarge the corridor with cutting-edge technology by means of a
sub-lake network of 2 kilometers long made up of such pipes.  This
will increase the gas volume in order to meet the consumption
needs of the domestic agricultural and livestock sector.

The action taken by the industry contributes to the development of
the agricultural and livestock sector and food independence by
introducing Venezuela as the largest supplier of fertilizers in
Latin America.

Based on the commissioning of ambitious projects on energy
development, the new PDVSA Gas keeps on boosting scientific and
technological growth and industrialization of hydrocarbons and
byproducts.

                    About Petroleos de Venezuela

Petroleos de Venezuela S.A. -- http://www.pdvsa.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 in the Troubled Company Reporter-Latin America on
April 28, 2008, Standard & Poor's Ratings Services affirmed its
'BB-' long-term corporate credit rating on Petroleos de
Venezuela S.A.  S&P said the outlook is stable.

In March 2007, Fitch Ratings gave a BB- rating to PdVSA's
Senior Unsecured debt.

On Feb. 7, 2007, Moody's Investors Service affirmed the
company's B1 global local currency rating.


PETROLEOS DE VENEZUELA: To Meet With Conoco on Assets Acquisition
-----------------------------------------------------------------
Petroleos de Venezuela SA's Director Eulogio del Pino said that
the firm will meet with ConocoPhillips to discuss the 2007
nationalization of heavy oil projects in the Orinoco Belt, which
included ConocoPhillips' assets, Reuters reports.

Reuters relates that ConocoPhillips filed arbitration proceedings
against the Venezuelan government, Petroleos de Venezuela's owner,
for last year's nationalization of heavy oil projects in the
Orinoco Belt.  The two firms have been in talks to reach an out-
of-court compensation settlement, the same report says.

?We are advancing ... next week we have a meeting,? Reuters quoted
Mr. del Pino as saying.

Petroleos de Venezuela S.A. -- http://www.pdvsa.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 in the Troubled Company Reporter-Latin America on
April 28, 2008, Standard & Poor's Ratings Services affirmed its
'BB-' long-term corporate credit rating on Petroleos de
Venezuela S.A.  S&P said the outlook is stable.

In March 2007, Fitch Ratings gave a BB- rating to PdVSA's
Senior Unsecured debt.

On Feb. 7, 2007, Moody's Investors Service affirmed the
company's B1 global local currency rating.



                             ***********

Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual
trades.  Prices for actual trades are probably different.  Our
objective is to share information, not make markets in publicly
traded securities.  Nothing in the TCR-LA constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-LA editor holds
some position in the issuers' public debt and equity securities
about which we report.

Tuesday's edition of the TCR-LA features a list of companies
with insolvent balance sheets obtained by our editors based on
the latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

                             ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA.  Marie Therese V. Profetana, Sheryl Joy P. Olano,
Rizande de los Santos, and Pamella Ritah K. Jala, Editors.

Copyright 2008.  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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