TCRLA_Public/080904.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

            Thursday, September 4, 2008, Vol. 9, No. 176

                            Headlines

A R G E N T I N A

ALITALIA SPA: Italy, Unions Have Until Sept. 14 to Reach Terms
ALITALIA SPA: Italian Group Offers EUR400 Million for Some Assets
ALITALIA SPA: Only EUR30 Mil. Cash May be Left by End of September
DISTRIBUIDORA CARDIS: Individual Reports Filing Is on Nov. 27
FINCA MARILIA: Trustee Verifying Proofs of Claim Until Sept. 26

GRUPO OLIVO: Trustee to File Individual Reports on November 20
GRUPO SUDAMERICANO: Claims Verification Deadline Is October 15
LOPEZ MENENDEZ: Proofs of Claim Verification Deadline Is Oct. 14
OSARA SA: Trustee Verifying Proofs of Claim Until October 31
SOCIEDAD DEL OESTE: Trustee to File Individual Reports on Nov. 10

TRANSPORTE MORETTI: Court Appoints Monica Irma Bressan as Trustee

* PROVINCE OF CORDOBA: S&P Assigns B/Stable Global Scale Rating
* ARGENTINA: Will Pay US$6.7 Billion Debt to Paris Club


B R A Z I L

BANCO BRADESCO: Keeps Hold Recommendation on Firm's Shares
CHRYSLER LLC: To Explore Strategic Options for Dodge Viper Biz
DELPHI CORP: Court Okays US$16.5MM Settlement With Furukawa
DELPHI CORP: Court OKs Add'l US$4MM Defense Costs for Ex-Officers
FORD MOTOR: To Contribute US$50 Mil. to Visteon Escrow Account

GENERAL MOTORS: Should Assume Delphi Pension Costs, PBGC Says
INDUSTRIAS METALURGICAS: Fitch Holds B/Stable Currency ID Ratings
JBS SA: Moody's Reviews B1 Credit Ratings for Possible Downgrade
SADIA SA: Discloses Final Documentation on Kraft Joint Venture

* BRAZIL: 2008 Structured Finance Market Is Stable, S&P Reports


C A Y M A N  I S L A N D S

AENEAS SEPARATE: Filing for Proof of Claim Deadline Is Today
AHFP ASCEND: Deadline for Proof of Claim Filing Is Today
AHFP CONTEXT: Proof of Claim Filing Deadline Is Today
AHFP CONTRARIAN: Filing for Proof of Claim Deadline Is Today
AHFP DEFIANCE: Proof of Claim Filing Deadline Is Today

AHFP LAPP: Deadline for Proof of Claim Filing Is Today
AHFP GROUP G: Proof of Claim Filing Deadline Is Today
AHFP TT EUROPE: Proof of Claim Filing Deadline Is Today
ANTHRACITE BALANCED: Holding Final Shareholders Meeting Today
AQUELTA BONDCO: Proof of Claim Filing Deadline Is Today

AQUELTA EQUITYCO: Filing for Proof of Claim Deadline Is Today
AQUELTA HYCO: Deadline for Proof of Claim Filing Is Today
AQUELTA LIMITED: Filing for Proof of Claim Deadline Is Today
AQUELTA OPHOLDCO: Proof of Claim Filing Deadline Is Today
AQUELTA MIDCO: Filing for Proof of Claim Deadline Is Today

AQUELTA PROPCO: Deadline for Proof of Claim Filing Is Today
AQUELTA TOPCO: Filing for Proof of Claim Deadline Is Today
AQUELTA SENIORCO: Proof of Claim Filing Deadline Is Today
BAKER STREET: Holding Final Shareholders Meeting Today
D'AMPEZZO INVESTMENT: Final Shareholders Meeting Is Today

ECA LEASING: Holding Final Shareholders Meeting Today
EDEN SEPARATE: Deadline for Proof of Claim Filing Is Today
FFTW DIVERSIFIED: To Hold Final Shareholders Meeting on Sept. 5
FFTW DIVERSIFIED ALPHA: Final Shareholders Meeting Is on Sept. 5
FORTUNATUS ETERNUS: Holding Final Shareholders Meeting Today

GRANDWAY CRYSTAL: Holding Final Shareholders Meeting Today
HISCOX FAR EASTERN: Deadline for Claims Filing Is Today
KEN LTD: Holding Final Shareholders Meeting Today
MECANO LTD: Holding Final Shareholders Meeting Today
OAM FINANCE FUND: Holding Final Shareholders Meeting Today

PARAMOUNT HOLDINGS: Final Shareholders Meeting Is Today
PDP CAPITAL: Holding Final Shareholders Meeting Today
PMDC AGUAYTIA: Holding Final Shareholders Meeting Today
QSF SEPARATE: Filing for Proof of Claim Deadline Is Today
READE STREET: Holding Final Shareholders Meeting Today

SPARX SEPARATE: Deadline for Proof of Claim Filing Is Today
STRATEGIC CAPITAL: Proof of Claim Filing Deadline Is Today
VARDON SEPARATE: Proof of Claim Filing Deadline Is Today
WALKERS GROUP: Sees Distressed Funds in Cayman/BVI Units in 2008


C H I L E

HERBALIFE LTD: Names Humberto Zuckermann as Country Director-Chile
METHANEX CORP: Will Develop US$5 Million Wind Farm in Chile


C O L O M B I A

ECOPETROL SA: Buys Rights to Gulf of Mexico Blocks for US$510 Mil.


D O M I N I C A N  R E P U B L I C

BANCO DE RESERVAS: Fitch Affirms B Ratings With Positive Outlook
PRC LLC: Investor Sues Former Parent IAC for Non-Disclosure


J A M A I C A

GOODYEAR TIRE: Unit Hires Tropical Battery as Distributor


M E X I C O

VISTEON CORP: Ford Motor to Contribute US$50MM in Escrow Account
VISTEON CORP: Closes UK Facility Sale, Continues UK Restructuring


T R I N I D A D  &  T O B A G O

HINDU CREDIT: Chief Says Vishnu Bisnath's Offers Make Little Sense


P U E R T O  R I C O

PORTOLA PACKAGING: Moody's Lowers POD Rating to D from Ca
SPANISH BROADCASTING: May Get Delisting Notification From NASDAQ


V E N E Z U E L A

ELECTRICIDAD DE CARACAS: Restoring Power After Blackout


                         - - - - -


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

ALITALIA SPA: Italy, Unions Have Until Sept. 14 to Reach Terms
--------------------------------------------------------------
The Italian government has set a Sept. 14, 2008 deadline to
convince trade unions to agree with the proposed rescue plan for
Alitalia S.p.A., Bloomberg News reports citing Labor Minister
Maurizio Sacconi.  Negotiations will start tomorrow, Sept. 4,
2008.

Compagnia Aerea Italiana, a consortium of local investors, has
submitted an offer to acquire some of Alitalia's profitable
assets.  The offer was made pursuant to the Phoenix rescue plan,
which sees a profitable Alitalia after two-to-three years.

The Phoenix rescue plan -- which entails 5,000-7,000 job cuts --
cannot materialize without the support of trade unions, which
leaders hope to minimize redundancies during Alitalia's
restructuring.

The plan will split the national carrier into two -- an oldco --
comprised of the bulk of the company's debt as well unprofitable
assets -- and a newco -- comprised of its core operations that
would be taken over by Compagnia Aerea Italiana.

The newco, meanwhile, will inherit Alitalia's fleet and
real estate assets as well as the remaining employees and up to
EUR500 million in debt.

"Ten days will be tight," Fabio Berti, general secretary of the
ANPAC pilots union told Bloomberg News.  "It would have been
better if we had started earlier.  What's important is that there
is this investor group and we don't want to miss another
opportunity."

                          About Alitalia

Based in Rome, Alitalia S.p.A. -- http://www.alitalia.it/--
provides air travel services for passengers and air transport of
cargo on national, international and inter-continental routes,
including United States, Canada, Japan and Argentina.  The
Italian government owns 49.9% of Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, EUR625.6 million
in 2006, and EUR494.64 million in 2007.

Alitalia S.p.A. declared insolvency on Aug. 29, 2008, and filed
for commencement of extraordinary administration procedure at the
Tribunal of Rome.  Italian Prime Minister Silvio Berlusconi to
appoint Augusto Fantozzi as extraordinary commissioner.


ALITALIA SPA: Italian Group Offers EUR400 Million for Some Assets
-----------------------------------------------------------------
Compagnia Aerea Italiana, a consortium of local investors planning
to acquire Alitalia S.p.A., has submitted a EUR400 million
conditional offer to acquire some assets of the national carrier,
the Financial Times reports.

The consortium includes:

    * AirOne S.p.A. of Carlo Toto;
    * IMMSI S.p.A. of Roberto Colaninno;
    * Atlantia S.p.A. of the Benetton family;
    * Intesa Sanpaolo S.p.A.;
    * Fondiaria SAI S.p.A.; and
    * 11-12 other investors.

Sources privy to the consortium told FT that the offer, valid for
a few weeks, is subject to several conditions including:

    * approval from Italian anti-trust agency and from the
      European Commission; and

    * acceptance of trade union of 5,000-7,000 job cuts.

Alitalia has filed for commencement of extraordinary
administration procedure at the Tribunal of Rome, pursuant to the
amended Marzano bankruptcy law.  Italian Prime Minister Silvio
Berlusconi has appointed Augusto Fantozzi as extraordinary
commissioner for Alitalia.

The amended law allows Alitalia to be split into two -- an
oldco and a newco.  It also allows Mr. Fantozzi to sell Alitalia's
assets through private talks without holding public auction.

The amended law exempts Alitalia from anti-trust rules for six
months, allowing its merger with AirOne to push through without
problems.  The revised law also binds investors from selling their
shares in Alitalia for five years.

                          About Alitalia

Based in Rome, Alitalia S.p.A. -- http://www.alitalia.it/--
provides air travel services for passengers and air transport of
cargo on national, international and inter-continental routes,
including United States, Canada, Japan and Argentina.  The
Italian government owns 49.9% of Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, EUR625.6 million
in 2006, and EUR494.64 million in 2007.

Alitalia S.p.A. declared insolvency on Aug. 29, 2008, and filed
for commencement of extraordinary administration procedure at the
Tribunal of Rome.  Italian Prime Minister Silvio Berlusconi to
appoint Augusto Fantozzi as extraordinary commissioner.


ALITALIA SPA: Only EUR30 Mil. Cash May be Left by End of September
------------------------------------------------------------------
Alitalia S.p.A.'s extraordinary commissioner Augusto Fantozzi
warns that the national carrier may only have around EUR30 million
to EUR50 million in cash-on-hand at Sept. 30, 2008, from
EUR195 million to EUR200 million as of Aug. 31, 2008, Agenzia
Giotnalistica Italia reports citing union sources.

Meanwhile, AGI says Mr. Fantozzi revealed a EUR50 million payment
to the International Air Transport Association to prevent
interruption of international ticketing services.

Based in Rome, Alitalia S.p.A. -- http://www.alitalia.it/--
provides air travel services for passengers and air transport of
cargo on national, international and inter-continental routes,
including United States, Canada, Japan and Argentina.  The
Italian government owns 49.9% of Alitalia.

Despite a EUR1.4 billion state-backed restructuring in 1997,
Alitalia posted net losses of EUR256 million and EUR907 million
in 2000 and 2001 respectively.  Alitalia posted EUR93 million in
net profits in 2002 after a EUR1.4 billion capital injection.
The carrier booked annual net losses of EUR520 million in 2003,
EUR813 million in 2004, EUR168 million in 2005, EUR625.6 million
in 2006, and EUR494.64 million in 2007.

Alitalia S.p.A. declared insolvency on Aug. 29, 2008, and filed
for commencement of extraordinary administration procedure at the
Tribunal of Rome.  Italian Prime Minister Silvio Berlusconi to
appoint Augusto Fantozzi as extraordinary commissioner.


DISTRIBUIDORA CARDIS: Individual Reports Filing Is on Nov. 27
-------------------------------------------------------------
Hugo Abalo, the court-appointed trustee for Distribuidora Cardis
SA's bankruptcy proceeding, will present the validated claims as
individual reports in the National Commercial Court of First
Instance No. 24 in Buenos Aires, with the assistance of Clerk
No. 47, on November 27, 2008.

Mr. Abalo is verifying creditors' proofs of claim until
October 16, 2008.  He will also submit to court a general report
containing an audit of Distribuidora Cardis' accounting and
banking records on February 5, 2009.

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

The debtor can be reached at:

                  Distribuidora Cardis SA
                  Encilla 6436.
                  Buenos Aires, Argentina

The trustee can be reached at:

                  Hugo Abalo
                  J. B. Justo 6748
                  Buenos Aires, Argentina


FINCA MARILIA: Trustee Verifying Proofs of Claim Until Sept. 26
---------------------------------------------------------------
The court-appointed trustee for Finca Marilia S.A.'s
reorganization proceeding will be verifying creditors' proofs of
claim until September 26, 2008.

The trustee will present the validated claims in court as  
individual reports on November 7, 2008.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
Finca Marilia and its creditors.

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

A general report that contains an audit of Finca Marilia's
accounting and banking records will be submitted in court on
December 12, 2008.

Creditors will vote to ratify the completed settlement plan  
during the assembly on June 29, 2009.

The debtor can be reached at:

                     Finca Marilia S.A.
                     Uruguay 1037
                     Buenos Aires, Argentina


GRUPO OLIVO: Trustee to File Individual Reports on November 20
--------------------------------------------------------------
Maria Ines Palermo, the court-appointed trustee for Grupo Olivo
Argentino SA's bankruptcy proceeding, will present the validated
claims as individual reports in the National Commercial Court of
First Instance No. 25 in Buenos Aires, with the assistance of
Clerk No. 50, on November 20, 2008.

Ms. Palermo is verifying creditors' proofs of claim until
October 9, 2008.  She will also submit to court a general report
containing an audit of Grupo Olivo's accounting and banking
records on February 9, 2009.

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

The trustee can be reached at:

                      Maria Ines Palermo
                      Av. Santa Fe 3444
                      Buenos Aires, Argentina


GRUPO SUDAMERICANO: Claims Verification Deadline Is October 15
--------------------------------------------------------------
The court-appointed trustee for Grupo Sudamericano S.A.'s
bankruptcy proceeding, will be verifying creditors' proofs of
claim until October 15, 2008.

The trustee will present the validated claims in court as  
individual reports on November 26, 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 Grupo Sudamericano and its creditors.

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

A general report that contains an audit of Grupo Sudamericano's
accounting and banking records will be submitted in court on
February 4, 2009.

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


LOPEZ MENENDEZ: Proofs of Claim Verification Deadline Is Oct. 14
----------------------------------------------------------------
The court-appointed trustee for Lopez Menendez S.R.L.'s bankruptcy
proceeding, will be verifying creditors' proofs of claim until
October 14, 2008.

The trustee will present the validated claims in court as  
individual reports on November 25, 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 Lopez Menendez and its creditors.

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

A general report that contains an audit of Lopez Menendez's
accounting and banking records will be submitted in court on
February 11, 2009.

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


OSARA SA: Trustee Verifying Proofs of Claim Until October 31
------------------------------------------------------------
Cecilia Montelvetti, the court-appointed trustee for Osara SA's
reorganization proceeding will be verifying creditors' proofs of
claim until October 31, 2008.

Ms. Montelvetti will present the validated claims in court as  
individual reports.  The National Commercial Court of First
Instance No. 15 in Buenos Aires, with the assistance of Clerk
No. 30 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 Osara SA and its creditors.

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

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

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

The debtor can be reached at:

                     Osara SA
                     Paraguay 4156
                     Buenos Aires, Argentina

The trustee can be reached at:

                     Cecilia Montelvetti
                     Urquiza 2134
                     Buenos Aires, Argentina


SOCIEDAD DEL OESTE: Trustee to File Individual Reports on Nov. 10
-----------------------------------------------------------------
Ana Bravo, the court-appointed trustee for Sociedad del Oeste
S.A.'s reorganization proceeding, will present the validated
claims as individual reports in the National Commercial Court of
First Instance No. 2 in Buenos Aires, with the assistance of Clerk
No. 4, on November 10, 2008.

Ms. Bravo is verifying creditors' proofs of claim until Sept. 26,
2008.  She will also submit to court a general report containing
an audit of Sociedad del Oeste S.A.'s accounting and banking
records on December 12, 2008.

The court 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 to appeal in a separate
proceeding known as an appeal for reversal.

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


TRANSPORTE MORETTI: Court Appoints Monica Irma Bressan as Trustee
-----------------------------------------------------------------
The National Commercial Court of First Instance in Canada de
Gomez, Santa Fe, has appointed C.P.N. Monica Irma Bressan as
trustee for Transporte Moretti S.A.'s bankruptcy proceeding.

The trustee will be in charge of administering Transporte
Moretti's assets under court supervision and will take part in
their disposal to the extent established by law.

The trustee can be reached at:

            C.P.N. Monica Irma Bressan
            Moreno 79
            Canada de Gomez, Argentina


* PROVINCE OF CORDOBA: S&P Assigns B/Stable Global Scale Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services has assigned its 'B' global
scale rating and 'raAA-' national scale rating on the government
of the Province of Cordoba, Republic of Argentina.  The outlook is
stable.
     
"The rating on the Province of Cordoba reflects the combination of
its relatively high debt level and the medium-term economic
challenges presented by the Republic of Argentina," said S&P's
credit analyst Delfina Cavanagh.  "The rating on Cordoba is
supported by prudent fiscal management, which led to five years of
balanced budgets, after capital expenditures."   The province's
creditworthiness is also supported by a well-diversified economic
structure, which tends to minimize its vulnerability to unexpected
economic shocks.
     
The rating on Cordoba will continue to be limited by the sovereign
rating on Argentina, determining the environment in which the
province operates.  Equally important, Argentina's central
government constitutes the most important source of revenue for
the province and its major creditor.  Cordoba's credit quality
would benefit from the normalization of the sovereign's fiscal
performance and the improvement of key macroeconomic indicators,
such as inflation.


* ARGENTINA: Will Pay US$6.7 Billion Debt to Paris Club
-------------------------------------------------------
Argentine President Cristina Fernandez said Tuesday that the
country will pay its US$6.7 billion debt to Paris Club to try to
raise “sagging” investor confidence, the Associated Press reports.

The AP notes that Argentina defaulted on US$95 billion in bonds in
2001, the largest default in history.  According to the report,
former president Nestor Kirchner restructured most of the debt in
2005 and repaid a US$9.5 billion loan from the International
Monetary Fund the next year.  The same report states that Mr.
Kirchner's leaving the Paris Club debt outstanding raised
criticism from international lenders.

According to the AP, President Fernandez said in a news conference
that the payment of the Paris Club debt confirms that Argentina is
willing to meet its international obligations.

The AP relates that President Fernandez said that the payment of
the Paris Club debt will “tap some of the US$47.2 billion in
foreign currency reserves that Argentina has accumulated in recent
years”.

                           *     *     *

The Troubled Company Reporter-Latin America reported on Aug. 13,
2008, that Standard & Poor's Ratings Services said that its
lowering of the sovereign ratings on the Republic of Argentina
will not immediately affect ratings on Argentine corporate
entities.  S&P lowered the global scale ratings on Argentina to
'B' from 'B+' and the national scale ratings to 'raAA-' from
'raAA'.  The outlook on the sovereign is stable, and the 'B'
short-term global scale rating remains unchanged.



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

BANCO BRADESCO: Keeps Hold Recommendation on Firm's Shares
----------------------------------------------------------
Zacks Investment Research is keeping its “Hold” recommendation on
Banco Bradesco S.A.'s shares, but cutting its target price to
US$19.  

In its second quarter report, Banco Bradesco posted net earnings
before nonrecurring items of BRL2,002 million, up 11% year-over-
year, but below Zacks Investment's estimate due to a higher-than-
expected effective tax rate.

Zacks Investment is maintaining its 2008 “EPADS” estimate at
US$1.60 and raising its 2009 estimate to US$1.90 from US$1.88, due
to a change in its FX assumptions from depreciation of the U.S.
dollar against the Brazilian real.  Revenues should benefit from
growth in the lending portfolio, though net interest margins are
declining and loss provisions should rise.  Zacks Investment
believes the US$0.61 indicated dividend, which provides a 3.3%
yield, is safe.

As a result of better economic conditions, the Brazilian credit
business has been growing, and Banco Bradesco has been able to
take advantage of this improved economic environment.  Due to
Banco Bradesco's successful segmentation strategy, it has
experienced solid portfolio growth in consumer and small- and
medium-size companies.  During second quarter 2008, Banco
Bradesco's loan portfolio increased 37% over 2007's second
quarter, reaching BRL148 billion.  Zacks Investment expects
continued strong growth in upcoming quarters.

The bank continues to show strong profitability due to strict cost
controls, growth in assets, solid fee income growth, increased
credit portfolio, and remarkable growth in its assets under
management.  As expected, Brazilian retail banks benefited from
the uncommon combination of increasing credit demand and higher
local interest rates.

Headquartered in Sao Paulo, Brazil, Banco Bradesco S.A. (NYSE:
BBD) -- http://www.bradesco.com.br/-- prides itself on serving
low-and medium-income individuals in Brazil since the 1960s.
Bradesco is Brazil's largest private bank, with more than 3,000
banking branches, and also a leader in insurance and private
pension management.  Bradesco has branches throughout Brazil as
well as one in New York, and Japan.  Bradesco offers Internet
banking, insurance, pension plans, annuities, credit card
services (including football-club affinity cards for the soccer-
mad population), and Internet access for customers.  The bank
also provides personal and commercial loans, along with leasing
services.

                           *     *     *

In February 2008, Moody's Investors Service assigned a Ba2
foreign currency deposit rating to Banco Bradesco S.A.


CHRYSLER LLC: To Explore Strategic Options for Dodge Viper Biz
--------------------------------------------------------------
Chrysler LLC planning to explore strategic options for the Dodge
Viper business.  This strategic review comes as the company
focuses on enhancing its core business and leveraging its assets.

"We have been approached by third parties who are interested in
exploring future possibilities for Viper," said Bob Nardelli,
Chairman and Chief Executive Officer – Chrysler LLC.  "As the
company evaluates strategic options to maximize core operations
and leverage its assets, we have agreed to listen to these
parties.  We will do so keeping in mind the best interests of
those who have shown tremendous support for the vehicle --
including employees, suppliers, dealers and a worldwide group of
loyal Viper owners and enthusiasts.  Viper is an integral part of
this company's heritage.  While this is a strategic review, our
intent would be to offer strong operational and financial support
during any potential transaction, in order to ensure a future for
the Viper business and perpetuate the legacy of this great
vehicle."

This review -- unique to the Viper specialty vehicle -- comes as
the company strengthens the Dodge brand's core portfolio with four
all-new Dodge-branded offerings introduced for 2009 -- Dodge
Journey, Dodge Challenger, Dodge Durango Hybrid and Dodge Ram --
and prepares to bring even more exciting vehicles to its customers
in the near future.

The Viper is hand-built in a low-volume, modular process at the
Conner Avenue Assembly Plant in Detroit, which operates largely
independent of Chrysler's other production facilities.  The
vehicle was introduced as a concept vehicle at the 1989 Detroit
auto show.  It was first available as a production vehicle in the
1992 model year.

With the announcement, the company emphasizes that it has not set
a definitive timetable for completion of the review of its
strategic options, no final decision has been made with regard to
the Viper business, and there can be no assurance that any
transaction will take place as a result of this process.  Chrysler
has retained Lazard as its financial advisor in connection with
this review.

                  About Chrysler LLC

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

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 11, 2008, Standard & Poor's Ratings Services said lowered
its ratings on Chrysler LLC, including the corporate credit
rating, to 'CCC+' from 'B-'.

As reported in the Troubled Company Reporter June 24, 2008,
Moody's Investors Service affirmed the B3 corporate family
rating and probability of default rating of Chrysler LLC, but
changed the outlook to negative from stable.  The change in
outlook reflects the increasingly challenging environment faced
by Chrysler as the outlook for US vehicle demand falls, and as
high fuel costs drive US consumers away from light trucks and
SUVs, and toward more fuel efficient vehicles.

As reported in the Troubled Company Reporter on May 9, 2008,
Fitch Ratings downgraded the issuer default rating of Chrysler
LLC to 'B' from 'B+', with a negative rating outlook.  Fitch
also downgraded the senior secured bank facilities, including
senior secured first-lien bank loan to 'BB/RR1' from 'BB+/RR1';
and senior secured second-lien bank loan to 'CCC+/RR6' from
'BB+/RR1'.  The recovery rating on the second lien was also
downgraded from 'BB+/RR1' to 'CCC+/RR6' based on lower asset
value assumptions and associated recoveries in the event of a
stress scenario.


DELPHI CORP: Court Okays US$16.5MM Settlement With Furukawa
-----------------------------------------------------------
Bankruptcy Law360 reports that the Hon. Robert Drain of the U.S.
Bankruptcy Court for the Southern District of New York approved
Delphi Corporation's US$16.5 million settlement with Furukawa
Electric Co. Ltd.

The settlement resolves a dispute between Delphi and Furukawa
Electric over a sales contract for torque and position sensors,
Bankruptcy Law360 relates.

As reported in the Troubled Company Reporter-Asia on May 22, 2007,
Furukawa Electric previously manufactured a power steering sensor,
called the Epsilon sensor for Delphi.  In April 2004, Delphi
terminated the Epsilon Sensor contracts, alleging that Furukawa
breached certain product warranties.  In October 2004, Delphi
filed a lawsuit against Furukawa in the U.S. Circuit Court for the
County of Saginaw, Michigan, asserting, among others, Epsilon
Sensor-related claims and US$25,000,000 in damages.

                   About Delphi Corporation

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.


DELPHI CORP: Court OKs Add'l US$4MM Defense Costs for Ex-Officers
-----------------------------------------------------------------
On Aug. 31, 2007, Delphi Corp., Delphi Trust I, Delphi Trust
II, certain former Delphi officers and employees, and certain of
the Debtors' insurance companies entered into a Stipulation and
Agreement of Insurance Settlement, which provided for the creation
of a fund for the defense costs of the former Delphi officers and
employees, administered by Delphi former Officers and employees
as escrow agent.

Pursuant to the Court-approved stipulation, the escrow agent was
authorized to disburse up to US$1,000,000 to the Former Delphi
Officers and Employees to be used solely for defense costs in
connection with the lawsuit In re: Delphi Corporation Securities,
Derivative and "ERISA" Litigation, 05-md-1725 (E.D. Mich.).

Still, several of the former officers and employees continue to
incur defense costs that require reimbursement.

In this regard, the parties again stipulated that the Escrow Agent
be authorized to disburse up to US$5,000,000, inclusive of the
sums already disbursed, to the Delphi former officers and
employees to be used solely for defense costs.

The Hon. Robert Drain of the U.S. Bankruptcy Court for the
Southern District of New York approved the stipulation.

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.

(Delphi Bankruptcy News, Issue No. 142; Bankruptcy Creditors'
Service Inc., http://bankrupt.com/newsstand/or 215/945-7000)


FORD MOTOR: To Contribute US$50 Mil. to Visteon Escrow Account
--------------------------------------------------------------
Visteon Corporation, Ford Motor Company and Ford-managed entity
Automotive Components Holdings, LLC, amended these agreements:

    1) The Escrow Agreement, dated as of Oct. 1, 2005, among
Ford, the company and Deutsche Bank Trust Company Americas, was
amended to, among other things, provide that Ford will contribute
an additional US$50 million into the escrow account, and to
provide that such additional funds will be available to the
company to fund restructuring and other qualifying costs, as
defined within the Escrow Agreement, on a 100% basis.

    2) The Reimbursement Agreement, dated as of Oct. 1, 2005,
between Ford and the company, was amended and restated to, among
other things, require Ford to reimburse the company for certain
severance expenses and other qualifying termination benefits, as
defined in such agreement, relating to the termination of salaried
employees who were leased to ACH.  Previously, the amount required
to be reimbursed by Ford was capped at US$150 million, of which
the first US$50 million was to be funded in total by Ford and the
remaining US$100 million was to be matched by the company.  Any
unused portion of the US$150 million as of Dec. 31, 2009, was to
be deposited into the escrow account governed by the Escrow
Agreement.

    3) The Master Services Agreement, dated as of Sept. 30, 2005,
as amended, between the company and ACH, was amended to, among
other things, extend the term that Visteon will provide certain
services to ACH, Ford and others from Dec. 31, 2009, to Jan. 1,
2011.

    4) The Visteon Salaried Employee Lease Agreement, dated as of
Oct. 1, 2005, as amended, between the company and ACH was amended
to, among other things, extend the term that ACH may lease
salaried employees of the company from Dec. 31, 2010 to Dec. 31,
2014.

    5) The Intellectual Property Contribution Agreement, dated as
of Oct. 1, 2005, as amended, among the company, Visteon Global
Technologies, Inc., Automotive Components Holdings, Inc. and ACH
was amended to, among other things, to clarify the availability
for use of certain patents, design tools and other proprietary
information.

                         About Visteon

Headquartered in Van Buren Township, Michigan, Visteon Corporation
(NYSE: VC) -- http://www.visteon.com/-- is an automotive supplier     
that designs, engineers and manufactures innovative climate,
interior, electronic and lighting products for vehicle
manufacturers, and also provides a range of products and services
to aftermarket customers.  The company also has corporate offices
in Shanghai, China; and Kerpen, Germany; the company has
facilities in 26 countries and employs approximately 38,500
people.

Visteon Corporation's consolidated balance sheet at June 30, 2008,
showed US$7.02 billion in total assets, US$6.93 billion in total
liabilities, and US$295.0 million in minority interests, resulting
in a US$207.0 million stockholders' deficit.

                    About Ford Motor Co.

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

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

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 21, 2008, Standard & Poor's Ratings Services said its
ratings on Ford Motor Co. (B-/Negative/--) and related entities
are not affected by Ford's intention to use up to US$500 million
of new common equity issuance to make purchases of Ford Motor
Credit Co.'s debt.  Debt due before 2012 will be the focus of
the repurchases.  Any such purchases in the open market or in
private transactions will likely be at a discount from par,
given current prices.  S&P views such purchases as a modest
positive for Ford's consolidated credit quality.

The TCR-LA reported Aug. 6, 2008, that Fitch Ratings downgraded
the issuer default rating of Ford Motor Company and Ford Motor
Credit Company LLC to 'B-' from 'B'.  The Rating Outlook remains
Negative.  The downgrade reflects these: (i) the further
deterioration in Ford's U.S. sales as a result of economic
conditions, an adverse product mix and the most recent jump in
gas prices; (ii) portfolio deterioration at Ford Credit and
heightened concern regarding economic access to capital to
support financing requirements; and (iii) escalating commodity
costs that will remain a significant offset to cost reduction
efforts.


GENERAL MOTORS: Should Assume Delphi Pension Costs, PBGC Says
-------------------------------------------------------------
Mike Ramsey and Christopher Scinta of Bloomberg News report that
the Pension Benefit Guaranty Corp. has said General Motors should
assume pension liabilities from Delphi Corp. by the end of
September or risk bearing additional costs from its former auto
parts subsidiary in bankruptcy.

The agency is concerned that no resolution on a pension
transfer seems imminent.  Delphi had about US$3.3 billion
in unfunded pension liabilities at the end of 2007, spokesman
Lindsey Williams said, according to the report.

                      About Delphi Corp.

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.

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

                   About General Motors

Headquartered in Detroit, Michigan, General Motors Corp. (NYSE:
GM) -- http://www.gm.com/-- was founded in 1908.  GM employs         
about 266,000 people around the world and manufactures cars and
trucks in 35 countries.  In 2007, nearly 9.37 million GM cars and
trucks were sold globally under the following brands: Buick,
Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel,
Pontiac, Saab, Saturn, Vauxhall and Wuling.  GM's OnStar
subsidiary is the industry leader in vehicle safety, security and
information services.

At March 31, 2008, GM's balance sheet showed total assets of
US$145,741,000,000 and total debts of US$186,784,000,000,
resulting in a stockholders' deficit of US$41,043,000,000.  
Deficit, at Dec. 31, 2007, and March 31, 2007, was
US$37,094,000,000 and US$4,558,000,000, respectively.

General Motors Latin America, Africa and Middle East, with
headquarters in Miramar, Florida, is one of GM's four regional
business units.  GM LAAM employs approximately 37,000 people in
18 countries and has manufacturing facilities in Argentina,
Brazil, Colombia, Ecuador, Egypt, Kenya, South Africa and
Venezuela.  GM LAAM markets vehicles under the Buick,
Cadillac, Chevrolet, GMC, Hummer, Isuzu, Opel, Saab and
Suzuki brands.


INDUSTRIAS METALURGICAS: Fitch Holds B/Stable Currency ID Ratings
-----------------------------------------------------------------
Fitch Ratings has affirmed these ratings of Industrias
Metalurgicas Pescarmona SA:

  -- Foreign currency Issuer Default Rating at 'B';
  -- Local currency Issuer Default Rating at 'B';
  -- BRL225 million notes due in 2014 at 'B/RR4';
  -- BRL65 million notes due in 2009 at 'B/RR4';
  -- National Scale Ratings at 'A-(arg)'.

The Recovery Rating of 'RR4' assigned to the notes indicates
average recovery prospects in the event of default.  The Rating
Outlook is Stable.

Industrias Metalurgicas' ratings are supported by strong global
demand for hydroelectric and wind technology and equipment, which
has boosted the company's backlog to US$1.8 billion as of April
2008 from $481 million as of April 2006.  The renewable energy
projects of the company often take 30 months to complete.  
Revenues are booked according to percentage of completion of the
project, and most contracts include pricing adjustment clauses
that protect the company's profit margins against increases in
construction costs.  Consequently, the increase in backlog adds
certainty to the company's cash generation in the medium term.

Also considered in the company's ratings are its geographic
revenue and asset diversification.  This diversification hedges
the company's cash flow against the volatile Argentine economy and
allows it to generate hard currency which can be used for debt
repayment.  For the fiscal year ended Jan. 31, 2008, U.S. dollar-
denominated sales accounted for approximately 70% of its total
revenue.  This percentage should increase in the future due to the
composition of most of the company's backlog.

Balanced against these strengths are the company's high leverage
and the concentration of its cash flow in a few large projects in
developing countries -- namely Brazil, Venezuela, Colombia, and
Malaysia.  Also considered in the company's rating is its rapid
pace of growth, which leads to high working capital needs.  While
market conditions are considered favorable for Industrias
Metalurgicas at this moment, a sudden downturn in some of its key
markets would have a negative effect its ability to add new
contracts.

Additionally, even though Argentina is not an important sales
market for Industrias Metalurgicas, an increase in economic
uncertainty in that country could lead to a decline in backlog as
potential customers shy away from doing business with the company
due to concerns about its ability to finance its working capital
needs.  In the last few years, the company has accessed
international markets for working capital financing.

For the 12 months ended Jan. 31, 2008, the company's revenues grew
to US$285 million from US$267 million in the prior year, while its
EBITDA grew to US$67 million from US$57 million.  This growth was
the result of the maturity of several projects.  During this time
period, its cash flow from operations was negative due to the
large working capital needs that were required to fund the
development of several projects.  Industrias Metalurgicas had
US$415 million of debt and US$154 million of cash and marketable
securities as of Jan. 31, 2008.  US$57 million of the company's
debt was structured without recourse as project finance debt for
wind farm projects in Brazil.  These figures translate into a
total debt-to-EBITDA ratio of 5.2 times and a net debt-to-EBITDA
ratio of 3.1x.

For the quarter ended April 30, 2008, the company's total debt
remained relatively unchanged at US$417 million (US$66 million
structured as project finance).  Cash and marketable securities
balance fell to US$53 million, however, due to the high working
capital needs of its projects.  The company's debt increased
during June as it issued US$65 million of notes due 2009 to
finance the working capital needs for the year.  Fitch expects the
company will roll this debt over.

An improvement in credit metrics is foreseen as the company's
EBITDA level is expected to reach US$120 million during the fiscal
year ended Jan. 31, 2009.  The growth in EBITDA should come from
the completion of several projects that are currently in backlog.  
The main hydro projects are Porce III (Colombia), Bakun
(Malaysia), Dardanelos (Brazil), Simplicio (Brazil), Macagua
(Venezuela) and Tocoma (Venezuela).  Industrias Metalurgicas major
wind projects are Caera and Santa Catarina, both located in
Brazil.

Industrias Metalurgicas Pescarmona SA, a.k.a. IMPSA --
http://www.impsa.com.ar/-- is one of the largest worldwide
providers of integrated energy solutions for hydropower and wind
energy projects through the production of capital goods and by
investing in power generation projects.  The company has offices
in Malaysia, China, and Argentina.


JBS SA: Moody's Reviews B1 Credit Ratings for Possible Downgrade
----------------------------------------------------------------
Moody's ratings for JBS S.A. will continue under review for
possible downgrade until regulators and antitrust authorities in
the U.S. rule on JBS's pending acquisitions of National Beef
Packing Company, LLC and Smithfield Beef Group Inc., including its
subsidiary, Five Rivers Ranch Cattle Feeding.  However, if the
transaction is approved in its current form, the most probable
outcome is a downgrade of JBS's ratings to B2.

Moody's review of JBS's ratings will focus on its ability to
generate positive cash flow from operations and free cash flow for
debt amortization over the medium term.  Moody's notes that the
company has not generated positive cash flow from operations or
free cash flow in any calendar year during the last five years or
over the last twelve months ending on June 30, 2008.  While
Moody's recognize that JBS successfully raised BRL2.55 billion
(US$1.5 billion) in equity through a private placement to fund the
pending acquisitions, Moody's view is that JBS's risk profile
would increase in the short to medium-term following the
acquisitions of the new assets as a result of the added
integration risks and the challenges associated with such rapid
growth.  If the company obtains the necessary regulatory approvals
for the pending acquisitions, JBS will have pro-forma revenues of
approximately US$25 billion, having grown its revenue base from
US$2 billion to US$25 billion in the space of only two years.  The
review will also focus on JBS's debt and guarantee structure, both
in its current form and subsequent to any potential new debt.

If the transaction is approved, JBS, following the acquisition of
National Beef and Smithfield's beef operations, would become the
largest beef processor in the United States.  Additionally, JBS
also would increase its diversification of geographic sales and
raw material sourcing, with production platforms in South America,
Europe, United States and Australia.  While Moody's acknowledge
the potential credit strengths of a global operational platform,
the pace at which JBS is expanding its operations leaves little
room for unexpected events or delays in realizing operational
synergies.

JBS's made its largest and first major acquisition outside of
South America in July 2007, when it bought the loss-making Swift &
company for US$1.4 billion, which has recently turned to profit.   
Following the Swift acquisition, the company also purchased a 50%
stake of Inalca, an Italy-based meat processor, for a total amount
of EUR225 million, Tasman Group in Australia for US$150 million
and is now awaiting approval for the current transaction, as
outlined above, which involves an approximate consideration of
US$1.5 billion.  Pro-forma the pending acquisitions, over 70% of
JBS's EBITDA and 80% of its revenues will be derived from assets
acquired during the last 15 months.

These ratings continue on review for possible downgrade:

   -- Corporate family rating: B1;

   -- US$275 million 9.375% senior unsecured notes due 2011: B1;

   -- US$300 million 10.5% senior unsecured notes due 2016: B1

Headquartered in Sao Paulo, Brazil, JBS SA --
http://www.jbs.com.br/ir/-- is a public company with its shares
listed on Bovespa's Novo Mercado under the symbol JBSS3.  The
company operates 23 plants in Brazil and six plants in Argentina
in addition to its operations in Australia and the United States
resulting from last year's purchase of Swift & Company.  In the
12 months ending September 2007, JBS generated pro forma net
revenue of US$11.9 billion and processed nine million head of
cattle.


SADIA SA: Discloses Final Documentation on Kraft Joint Venture
--------------------------------------------------------------
Sadia S.A. informed its Shareholders that it has executed the
final documentation contemplated in the Partnership Agreement
entered into on April 28, 2008 by and between Sadia and Kraft
Foods Brasil S.A. (KFB) & Kraft Foods Holdings, Inc., presently
known as Kraft Foods Global Brands, LLC (Kraft), already disclosed
in the material fact disseminated on that same date, establishing
the terms and conditions for setting up a joint venture to operate
in Brazil the activities of cheese manufacturing, marketing and
distribution, including the products currently sold by KFB under
the Philadelphia brand, as well as cheeses and cheese spreads sold
under the Sadia brand.

The joint venture vehicle, K&S Alimentos S.A. (K&S), is a closely-
held corporation, headquartered in Curitiba-PR.  KFB is the title
holder of 51% of the voting shares while Sadia holds 49%.  
Pursuant to the terms of the Shareholders’ Agreement signed by the
parties within the context of their partnership, K&S shall have
its own independent structure and corporate governance.

As established in the agreement signed between KFB and K&S, K&S
shall start up its industrial operation under the mode of
manufacturing to order.  As of January 2010, these operations will
be fully and definitively transferred to K&S own industrial park.

This partnership with Kraft represents an important step towards
strengthening Sadia in the cheese segment and is in full alignment
with its strategy of promoting growth and creating value, both for
the company and for its shareholders.

                            About Sadia

Headquartered in Sao Paulo, Brazil, Sadia S.A. --
http://www.sadia.com-- operates in the agro industrial and food
processing sectors in Brazil and primarily produces a range of
processed products, poultry, and pork.  The company distributes
around 1,000 different products through distribution and sales
centers located in Brazil, China, Japan and Italy.

                           *     *      *

As reported in the Troubled Company Reporter-Latin America on
July 24, 2008, Moody's affirmed its Ba2 local currency corporate
family rating and senior unsecured foreign currency rating for
Sadia S.A., but changed the rating outlook to stable from
positive.  The change in outlook was primarily prompted by
Moody's view that margin pressure and negative free cash flow
will postpone Sadia's attainment of improved credit metrics.

TCR-Latin America reported on June 23, 2008, Standard & Poor's
Ratings Services has raised its long-term corporate credit
rating on Brazilian food producer Sadia S.A. to 'BB+' from 'BB'.  
The rating on the company's US$250 million notes was also raised
to 'BB+'.  The outlook is stable.  Sadia's total debt
outstanding at Dec. 31, 2007, was approximately US$2 billion.


* BRAZIL: 2008 Structured Finance Market Is Stable, S&P Reports
---------------------------------------------------------------
The Brazilian structured finance market has experienced a steady
flow of new issuance this year because of a continuously favorable
economic environment, increased investor interest in domestic
securitizations, and a growing origination base.  Even with the
ongoing development of the local securitization market, however,
this evolving region has a long way to go before domestic
securitization volume truly hits its stride.

It's also worth noting that the Brazilian securitization market
has managed to thrive in 2008 while many other structured finance
markets continue to suffer as a result of the ongoing liquidity
squeeze that began late last year.  Standard & Poor's Ratings
Services has assigned its ratings to 29 new Brazilian domestic and
cross-border structured finance transactions in 2008, and
currently monitors 76 different Brazilian securitization programs,
some of which have multiple series outstanding.  More importantly,
however, S&P believes the uncertainties affecting the global
finance market will continue to have a limited impact on Brazil's
local financial and securitization markets going forward.

S&P received an increasing number of inquiries from foreign
investors and arrangers interested in cross-border transactions
collateralized by domestic assets since the April 2008 upgrade of
the Federative Republic of Brazil (BBB-/Stable/A-3 foreign
currency rating; BBB+/Stable/A-2 local currency rating) to
investment-grade.  S&P doesn't expect this trend to consolidate in
the second half of 2008, especially in light of the sparseness of
liquidity in the global capital markets.

S&P does, however, expect Brazil to enter the so-called "third
market stage" of Latin American securitization in the next couple
of years, much to the credit of the sovereign upgrade earlier this
year.  In the third stage, issuers gain access to international
capital markets through securitizations of existing assets
denominated in local currency.   As a result, new companies and
asset classes may enter the market to participate in
securitizations and begin attracting a more diversified and mature
pool of international investors.

As S&P predicted at the beginning of this year, Brazil's
domestic structured finance issuance in 2008 is on a path to
exceed 2007 issuance levels despite its slow start.  Total year-
to-date issuance of new Fundos de Investimento em Direitos
Creditorios (FIDC), the major domestic securitization instrument,
totaled BRL7.5 billion (approximately US$4.5 billion) through
August 2008.  According to the Brazilian Securities and Exchange
Commission, Comissao de Valores Mobiliarios (CVM), this represents
a 20% increase over the same period in 2007.  Based on the number
of transactions that have already started the registration process
with the CVM and the number of inquiries S&P received, issuance
could easily exceed
BRL10 billion by year-end 2008.  According to CVM data, that
much volume would rival last year's total, and any additional
issuance could put 2008 in line to challenge the BRL12.8 billion
achieved in 2006.

When compared with other domestic securities, however,
securitization still accounts for a relatively small portion
of the overall bond market.  Based on CVM data, approximately
BRL43 billion (US$26 billion) in FIDCs were outstanding as of July
2008, which represents less than 2% of Brazil's GDP—even after the
significant growth of about 40% in outstanding volume since
December 2007.

In contrast, banks and companies continue to use other types
of domestic securities for their funding strategies.  The total
amount of domestic debentures reached approximately BRL240 billion
in July 2008, representing a growth rate of 14% this year.  
Additionally, Brazil's largest clearing house, CETIP data
indicates that Certificado de Deposito Bancario (time deposits)
volume reached an impressive BRL600 billion in August 2008, up 50%
since the beginning of the year.  Despite the use of nonstructured
debt among banks and large companies, securitization remains an
attractive funding alternative for small and midsize banks and
companies because it's often a less-expensive funding option and
because it's often the sole option for certain entities with low
or no credit ratings.

S&P has also seen an unexpectedly high level of cross-border
future flow issuance in 2008.  In the first half of this year,
most of these transactions have been in the form of diversified
payment rights (DPRs; securitizations large local banks
originate).  Through July 2008, S&P rated US$1.3 billion in new
cross-border transactions that four financial institutions
originated, well above the US$900 million that only one bank
originated in all of 2007.  S&P expects Brazilian banks to
continue to opportunistically issue DPR future flow transactions
in the next few quarters because they provide an alternative
funding source for their rapidly growing credit portfolios.

         Assessing The Impact Of New Accounting Rules
                     For Securitized Assets

On the regulatory front, S&P believes the recent accounting
changes that Brazil's Central Bank announced, which require
additional capital requirements for certain securitized assets,
will have only a limited impact on issuance from most of the
current originators.  The rationale for this is that these
originators are generally small and midsize entities with limited
and higher-cost funding options than large corporations.  As such,
securitization will likely remain one of the most viable options
available to them.

Nevertheless, S&P understands that these accounting changes
could deter large local banks from securitizing their domestic
loan portfolios in the next few quarters.  Beginning in January
2009, the Central Bank's new regulations will require that the
calculation of capital adequacy ratios incorporate assets within
new securitization programs in which the originator holds a
significant portion of the most subordinate classes.  This will
affect capital adequacy ratios, and related income and expenses
resulting from securitizations will need to be recognized over the
life of the assets.

On the other hand, S&P understands that certain features
incorporated in structured finance securities will eventually
stimulate large local banks to pursue securitization despite the
limitations the new accounting requirements impose.  For example,
unlike time deposits, structured finance programs present a
captive, long-term liquidity source.  Issuing through a
securitization is also usually cheaper than issuing debt through
other methods.  Additionally, in a continuously favorable economic
environment, it's likely that investors with an appetite for
higher risk would be interested in a significant portion of most
subordinated classes of transactions that large local banks
originate.  In these scenarios, originators would not fully hold
the assets, permitting off-balance sheet
accounting of the securitized assets.

               Unique Asset Classes And Structures
                    Highlight Local Innovation

Issuers frequently ask S&P to evaluate and rate singular Brazilian
structures and asset classes that reflect the innovative
characteristics of local arrangers and originators.  While
issuance activity related to traditional asset classes such as
consumer loans, corporate loans, and trade receivables remains
robust, S&P is continually engaged in analyzing transactions
backed by less-traditional asset classes, such as tax liens,
precatorios (government-related obligations), oil-related
royalties, agribusiness loans and trade receivables, and public
transportation future flows.

Additionally, the prospect of a developed authentic Brazilian
residential mortgage-backed securities market gets closer to
becoming a reality every day, as the growth rate of the local
homebuilding industry remains consistent and residential loan
activity continues to heat up.

     Structured Finance Ratings Performance Remains Stable

The performance of Brazilian securitizations that S&P rates
has been historically solid, as upgrades have significantly
exceeded downgrades, primarily because of adequate inherent
credit enhancement and the country's continued favorable
macroeconomic environment.  Most Brazilian transactions that
the rating agency rates continue to demonstrate adequate
credit performance.  Barring a major recession in the United
States or worldwide, S&P expects credit performance to remain
stable for most asset types through the second half of 2008.

On the other hand, S&P believes the significant expansion of
lending activities in Brazil over the past few years will likely
warrant revised credit policies and models along the way.  
However, S&P doesn't anticipate a major disruption, even if
certain scenarios cause significant economic distress. The
performance of consumer lending-related asset-backed securities
transactions remains highly dependent on economic factors, such as
income levels, employment rates, and interest rates; S&P expects
all of these factors to remain favorable in the second half of
2008.



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

AENEAS SEPARATE: Filing for Proof of Claim Deadline Is Today
------------------------------------------------------------
Aeneas Separate Account Ltd.'s creditors have until Sept. 4, 2008,
to prove their claims to Richard Finlay, 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.

Aeneas Separate's shareholder decided on July 2, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Richard Finlay
               c/o Conyers Dill & Pearman
               P.O. Box 2681
               Grand Cayman, Cayman Islands
               Tel: (345) 945-3901
               Fax: (345) 945-3902


AHFP ASCEND: Deadline for Proof of Claim Filing Is Today
--------------------------------------------------------
AHFP Ascend's creditors have until Sept. 4, 2008, to prove their
claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP Ascend's shareholders decided on July 11, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP CONTEXT: Proof of Claim Filing Deadline Is Today
-----------------------------------------------------
AHFP Context's creditors have until Sept. 4, 2008, to prove their
claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

In their proof 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.

AHFP Context's shareholders decided on July 11, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP CONTRARIAN: Filing for Proof of Claim Deadline Is Today
------------------------------------------------------------
AHFP Contrarian's creditors have until Sept. 4, 2008, to prove
their claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP Contrarian's shareholders decided on July 11, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP DEFIANCE: Proof of Claim Filing Deadline Is Today
------------------------------------------------------
AHFP Defiance's creditors have until Sept. 4, 2008, to prove their
claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP Defiance's shareholders decided on July 11, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP LAPP: Deadline for Proof of Claim Filing Is Today
------------------------------------------------------
AHFP Lapp's creditors have until Sept. 4, 2008, to prove their
claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP Lapp's shareholders decided on July 11, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP GROUP G: Proof of Claim Filing Deadline Is Today
-----------------------------------------------------
AHFP Group G's creditors have until Sept. 4, 2008, to prove their
claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP Group G's shareholders decided on July 11, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


AHFP TT EUROPE: Proof of Claim Filing Deadline Is Today
-------------------------------------------------------
AHFP TT Europe's creditors have until Sept. 4, 2008, to prove
their claims to Jagjit (Bobby) Toor and Jan Neveril, the company's
liquidators, or be excluded from receiving any distribution or
payment.

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

AHFP TT Europe's shareholders decided on July 11, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

               Jagjit (Bobby) Toor and Jan Neveril
               c/o Maples Finance Limited
               P.O. Box 1093GT
               Grand Cayman, Cayman Islands


ANTHRACITE BALANCED: Holding Final Shareholders Meeting Today
-------------------------------------------------------------
Anthracite Balanced Company will hold its final shareholders
meeting on Sept. 4, 2008, at 10:00 a.m., at the offices of HSBC
Bank (Cayman) Limited, P.O. Box 1109, George Town, Grand Cayman,
Cayman Islands.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be  
      destroyed.

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

The liquidators can be reached at:

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


AQUELTA BONDCO: Proof of Claim Filing Deadline Is Today
-------------------------------------------------------
Aquelta Bondco Ltd.'s creditors have until Sept. 4, 2008, to prove
their claims to Walkers SPV Limited, 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.

Aquelta Bondco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA EQUITYCO: Filing for Proof of Claim Deadline Is Today
-------------------------------------------------------------
Aquelta Equityco Ltd.'s creditors have until Sept. 4, 2008, to
prove their claims to Walkers SPV Limited, 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.

Aquelta Equityco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA HYCO: Deadline for Proof of Claim Filing Is Today
---------------------------------------------------------
Aquelta Hyco Ltd.'s creditors have until Sept. 4, 2008, to prove
their claims to Walkers SPV Limited, 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.

Aquelta Hyco's shareholders decided on June 12, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA LIMITED: Filing for Proof of Claim Deadline Is Today
------------------------------------------------------------
Aquelta Ltd.'s creditors have until Sept. 4, 2008, to prove their
claims to Walkers SPV Limited, 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.

Aquelta's shareholders decided on June 12, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA OPHOLDCO: Proof of Claim Filing Deadline Is Today
---------------------------------------------------------
Aquelta Opholdco Ltd.'s creditors have until Sept. 4, 2008, to
prove their claims to Walkers SPV Limited, 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.

Aquelta Opholdco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA MIDCO: Filing for Proof of Claim Deadline Is Today
----------------------------------------------------------
Aquelta Midco Ltd.'s creditors have until Sept. 4, 2008, to prove
their claims to Walkers SPV Limited, 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.

Aquelta Midco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA PROPCO: Deadline for Proof of Claim Filing Is Today
-----------------------------------------------------------
Aquelta Propco Ltd.'s creditors have until Sept. 4, 2008, to prove
their claims to Walkers SPV Limited, 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.

Aquelta Propco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA TOPCO: Filing for Proof of Claim Deadline Is Today
----------------------------------------------------------
Aquelta Topco Ltd.'s creditors have until Sept. 4, 2008, to prove
their claims to Walkers SPV Limited, 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.

Aquelta Topco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


AQUELTA SENIORCO: Proof of Claim Filing Deadline Is Today
---------------------------------------------------------
Aquelta Seniorco Ltd.'s creditors have until Sept. 4, 2008, to
prove their claims to Walkers SPV Limited, 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.

Aquelta Seniorco's shareholders decided on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Walkers SPV Limited
                Walkers SPV Limited
                P.O. Box 1093GT
                Grand Cayman, Cayman Islands


BAKER STREET: Holding Final Shareholders Meeting Today
------------------------------------------------------
Baker Street CLO V Ltd. will hold its final shareholders meeting
on Sept. 4, 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.

Baker Street's shareholders agreed on June 12, 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


D'AMPEZZO INVESTMENT: Final Shareholders Meeting Is Today
---------------------------------------------------------
D'Ampezzo Investment Ltd. will hold its final shareholders meeting
on Sept. 4, 2008, at the offices of Cititrust (Cayman) Limited,
CIBC Financial Centre, George Town, Grand Cayman, Cayman Islands.

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

D'Ampezzo Investment's shareholders agreed on July 10, 2008, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Buchanan Limited
               P.O. Box 1170
               Grand Cayman, Cayman Islands

Contact for inquiries:

               Francine Jennings
               Tel: (345) 949-0355
               Fax: (345) 949-0360


ECA LEASING: Holding Final Shareholders Meeting Today
-----------------------------------------------------
ECA Leasing Ltd. will hold its final shareholders meeting on
Sept. 4, 2008, at CIBC Bank and Trust Company (Cayman) Limited, 11
Dr. Roy's Drive, P.O. Box 694, Grand Cayman, Cayman Islands.

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

ECA Leasing's shareholders agreed on July 10, 2008, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Commerce Corporate Services Limited
               c/o P.O. Box 694GT
               George Town, Grand Cayman
               Cayman Islands


EDEN SEPARATE: Deadline for Proof of Claim Filing Is Today
----------------------------------------------------------
Eden Separate Account Ltd.'s creditors have until Sept. 4, 2008,
to prove their claims to Richard Finlay, 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.

Eden Separate's shareholder decided on July 2, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

               Richard Finlay
               c/o Conyers Dill & Pearman
               P.O. Box 2681
               Grand Cayman, Cayman Islands
               Tel: (345) 945-3901
               Fax: (345) 945-3902


FFTW DIVERSIFIED: To Hold Final Shareholders Meeting on Sept. 5
---------------------------------------------------------------
FFTW Diversified Alpha Fund Ltd. will hold its final shareholders
meeting on Sept. 5, 2008, at 10:30 a.m., at 41 Madison Avenue,
30th Floor, New York, NY 10010, USA.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of three years from the
      dissolution of the company, after which they may be  
      destroyed.

FFTW Diversified's shareholders agreed on Sept. 4, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               William Vastardis
               c/o 30th Floor, 41 Madison Avenue
               New York, New York 10010
               USA


FFTW DIVERSIFIED ALPHA: Final Shareholders Meeting Is on Sept. 5
----------------------------------------------------------------
FFTW Divessified Alpha Class A Ltd. will hold its final
shareholders meeting on Sept. 5, 2008, at 10:35 a.m., at 41
Madison Avenue, 30th Floor, New York, NY 10010, USA.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of three years from the
      dissolution of the company, after which they may be  
      destroyed.

FFTW Diversified's shareholder decided on July 2, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               William Vastardis
               c/o 30th Floor, 41 Madison Avenue
               New York, New York 10010
               USA


FORTUNATUS ETERNUS: Holding Final Shareholders Meeting Today
------------------------------------------------------------
Fortunatus Eternus Ltd. will hold its final shareholders meeting
on Sept. 4, 2008, at Coutts House, 1446 West Bay Road, P.O. Box
707, Grand Cayman, Cayman Islands.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be  
      destroyed.

Furtunatus Eternus' shareholders agreed on Feb. 18, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                 Royhaven Secretaries Limited
                 c/o Coutts House
                 P.O. Box 707
                 1446 West Bay Road
                 Grand Cayman, Cayman Islands
               
Contact for inquiries:

                 Sharon Meghoo  
                 Tel: 945-4777
                 Fax: 945-4799


GRANDWAY CRYSTAL: Holding Final Shareholders Meeting Today
----------------------------------------------------------
Grandway Crystal Fund Ltd. will hold its final shareholders
meeting on Sept. 4, 2008, at 2:30 p.m., at the offices of Ogier,
Attorneys, Queensgate House, South Church Street, Grand Cayman.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be  
      destroyed.

Grandway Crystal's shareholder decided on July 23, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

                Vijayabalan Murugesu
                c/o Ogier
                Queensgate House
                South Church Street
                P.O. Box 1234
                Grand Cayman, Cayman Islands

Contact for inquiries:

               Jonathan Bernstein
               Tel: (345) 949-9876
               Fax: (345) 949-1986


HISCOX FAR EASTERN: Deadline for Claims Filing Is Today
-------------------------------------------------------
Hiscox Far Eastern Financial Fund Ltd.'s creditors have until
Sept. 4, 2008, to prove their claims to K.D. Blake, 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.

Hiscox Far Eastern's shareholder decided on July 23, 2008, to
place the company into voluntary liquidation under The Companies
Law (2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               K.D. Blake
               c/o  KPMG
               P.O. Box 493
               Grand Cayman, Cayman Islands
               
Contact for inquiries:

               Krissa Jeffers
               Tel: (345) 914-4398
               Fax: (345) 949-7164


KEN LTD: Holding Final Shareholders Meeting Today
-------------------------------------------------
Ken Ltd. will hold its final shareholders meeting on Sept. 4,
2008, at the offices of Cititrust (Cayman) Limited, CIBC Financial
Centre, George Town, Grand Cayman, Cayman Islands.

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

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

The liquidator can be reached at:

               Buchanan Limited
               P.O. Box 1170
               Grand Cayman, Cayman Islands
            
Contact for inquiries:

               Francine Jennings
               Tel: (345) 949-0355
               Fax: (345) 949-0360


MECANO LTD: Holding Final Shareholders Meeting Today
----------------------------------------------------
Mecano Ltd. will hold its final shareholders meeting on Sept. 4,
2008, at the offices of Cititrust (Cayman) Limited, CIBC Financial
Centre, George Town, Grand Cayman, Cayman Islands.

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

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

The liquidator can be reached at:

               Buchanan Limited
               P.O. Box 1170
               Grand Cayman, Cayman Islands
            
Contact for inquiries:

               Francine Jennings
               Tel: (345) 949-0355
               Fax: (345) 949-0360


OAM FINANCE FUND: Holding Final Shareholders Meeting Today
----------------------------------------------------------
OAM Finance Fund Ltd. will hold its final shareholders meeting on
Sept. 4, 2008, at 10:00 a.m., at the offices of Deloitte, Fourth
Floor, Citrus Grove, P.O. Box 1787, George Town, Grand Cayman,
Cayman Islands.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be  
      destroyed.

OAM Finance Fund's shareholders agreed on July 25, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Stuart K. Sybersma
               Attention: Mervin Solas
               Deloitte
               P.O. Box 1787
               George Town, Grand Cayman
               Cayman Islands
               Tel: (345) 949-7500
               Fax: (345) 949 8258


PARAMOUNT HOLDINGS: Final Shareholders Meeting Is Today
-------------------------------------------------------
Paramount Holdings Ltd. will hold its final shareholders meeting
on Sept. 4, 2008, at the offices of Cititrust (Cayman) Limited,
CIBC Financial Centre, George Town, Grand Cayman, Cayman Islands.

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

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

The liquidator can be reached at:

               Buchanan Limited
               P.O. Box 1170
               Grand Cayman, Cayman Islands
            
Contact for inquiries:

               Francine Jennings
               Tel: (345) 949-0355
               Fax: (345) 949-0360


PDP CAPITAL: Holding Final Shareholders Meeting Today
-----------------------------------------------------
PDP Capital Ltd. will hold its final shareholders meeting on
Sept. 4, 2008, at CIBC Bank and Trust Company (Cayman) Limited, 11
Dr. Roy's Drive, P.O. Box 694, Grand Cayman, Cayman Islands.

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

PDP Capital's shareholders agreed on July 10, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

               Commerce Corporate Services Limited
               c/o P.O. Box 694GT
               George Town, Grand Cayman
               Cayman Islands


PMDC AGUAYTIA: Holding Final Shareholders Meeting Today
-------------------------------------------------------
PMDC Aguaytia Ltd. will hold its final shareholders meeting on
Sept. 4, 2008, at 2:30 p.m., at the offices of Ogier, Attorneys,
Queensgate House, South Church Street, Grand Cayman, Cayman
Islands.

These matters will be taken up during the meeting:

   1) accounting of the wind-up process, and
   
   2) authorizing the liquidators of the company to retain the
      records of the company for a period of five years from the
      dissolution of the company, after which they may be  
      destroyed.

PMDC Aguaytia's shareholder decided on July 22, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

                Robert W. Burke Jr.
                c/o PPLG Latin America Holdings, LLC
                835 Hamilton Street, 2nd Floor
                Allentown, PA 18101
                Tel: (610) 774-5418
                Fax: (610) 774-7376


QSF SEPARATE: Filing for Proof of Claim Deadline Is Today
---------------------------------------------------------
QSF Separate Account Ltd.s creditors have until Sept. 4, 2008, to
prove their claims to Richard Finlay, 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.

QSF Separate's shareholder decided on July 2, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

               Richard Finlay
               c/o Conyers Dill & Pearman
               P.O. Box 2681
               Grand Cayman, Cayman Islands
               Tel: (345) 945-3901
               Fax: (345) 945-3902


READE STREET: Holding Final Shareholders Meeting Today
------------------------------------------------------
Reade Street CLO Ltd. will hold its final shareholders meeting on
Sept. 4, 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.

Reade Street's shareholders agreed on June 12, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidators can be reached at:

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


SPARX SEPARATE: Deadline for Proof of Claim Filing Is Today
-----------------------------------------------------------
Sparx Separate Account Ltd.s creditors have until Sept. 4, 2008,
to prove their claims to Richard Finlay, 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.

Sparx Separate's shareholder decided on July 2, 2008, to place the
company into voluntary liquidation under The Companies Law (2004
Revision) of the Cayman Islands.

The liquidator can be reached at:

               Richard Finlay
               c/o Conyers Dill & Pearman
               P.O. Box 2681
               Grand Cayman, Cayman Islands
               Tel: (345) 945-3901
               Fax: (345) 945-3902


STRATEGIC CAPITAL: Proof of Claim Filing Deadline Is Today
----------------------------------------------------------
Strategic Capital Management Cayman LDC's creditors have until
Sept. 4, 2008, to prove their claims to Walkers SPV Limited, 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.

Strategic Capital's shareholder decided on July 31, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Walkers SPV Limited
               Walker House, 87 Mary Street
               George Town, Cayman Islands
               Cayman Islands
              

VARDON SEPARATE: Proof of Claim Filing Deadline Is Today
--------------------------------------------------------
Vardon Separate Account Ltd.'s creditors have until Sept. 4, 2008,
to prove their claims to Richard Finlay, 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.

Vardon Separate's shareholder decided on July 2, 2008, to place
the company into voluntary liquidation under The Companies Law
(2004 Revision) of the Cayman Islands.

The liquidator can be reached at:

               Richard Finlay
               c/o Conyers Dill & Pearman
               P.O. Box 2681
               Grand Cayman, Cayman Islands
               Tel: (345) 945-3901
               Fax: (345) 945-3902


WALKERS GROUP: Sees Distressed Funds in Cayman/BVI Units in 2008
----------------------------------------------------------------
The Cayman Island, British Virgin Islands and Jersey offices of
the global offshore law firm, Walkers Group, have seen a rise in
distressed funds work in the first half of 2008.  The firm's
Cayman, British Virgin Islands, and Jersey offices, have seen
its integrated approach of combining funds, insolvency, and
litigation expertise as a valuable offering for its clients who
are establishing new funds as well as those liquidating current
funds.

"We are seeing a lot of new instructions from distressed funds
in our BVI office," said Richard May, a partner on the Distressed
Funds team in British Virgin Islands, which was
launched in March 2008.  "It is important that hedge funds
ensure that they get their redemption provisions right from the
beginning and structure their funds appropriately to protect
themselves against potential liquidity issues that might crop up
in the future.  By paying attention to the details at the start,
they can save themselves and their investors a lot of headaches
later."

The Walkers Distressed Funds group was developed to help
investment funds best serve the interests of their investors.
The team has broad-ranging experience across funds, litigation,
and insolvency work to provide a full range of services for the
entire lifecycle of a fund.  The firm has found that by
integrating these practices early on, the funds are more aware
of their options -- especially when jurisdictions such as the
United States, Cayman, BVI, and Jersey can have differences in how
funds can be liquidated and the rights of investors.

"When funds go into distress, it is important that the actions
taken are in the best interests of the funds themselves and the
investors, and that other parties are not permitted to obstruct
what is most favorable for the funds," said David Steenson, a

Jersey litigation partner on the Distressed Funds team.  "The
goal is to work with the funds directly, where possible, to help
them assess their options and put the best strategy in place to
benefit both the funds and the investors."

Walkers can counsel funds on how best to deal with suspensions
and illiquidity issues, contractual rights, and pre-emptive
actions or threats from investors.  Because of the multi-practice
approach, the team is skilled at handling contentious and non-
contentious situations.

"Our goal is to help our clients navigate through difficult
situations," said Sandie Corbett, a Cayman insolvency partner in
the Distressed Funds group.  "That includes both ensuring that
their fund is built on a solid foundation and that they fully
understand how their fund operates from the outset so that they
are best placed to cope with problems in the event that they end
up in litigation. The better prepared they are both as a fund
structure and from an education standpoint, the better chance
they have of winning in court, if the situation advances to that
stage."

                     About The Walkers Group

The Walkers Group -- http://www.walkersglobal.com-- provides  
legal and management services to leading FORTUNE 100 and FTSE
100 global corporations and financial institutions, private
equity houses, capital markets participants, investment fund
managers, and growth and middle-market companies, with offices
in in the Cayman Islands, the British Virgin Islands, Dubai,
Hong Kong, Jersey, London, and Tokyo.  The Walkers group is
comprised of leading offshore law firm, Walkers; fund services
provider, Walkers Fund Services Limited; and SPV and corporate
services providers, Walkers SPV Limited, Walkers (Jersey)
Limited, and Walkers (BVI) Limited.



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

HERBALIFE LTD: Names Humberto Zuckermann as Country Director-Chile
------------------------------------------------------------------
Herbalife Ltd. has appointment Humberto Zuckermann as country
director of Chile.  He reports to Patricio Cuesta, vice president,
southern South America.

Mr. Zuckermann is responsible for all day-to-day sales, marketing
and operations in Chile.  He brings to Herbalife a 15-year proven
track record in the marketing and sales areas, and has worked for
multinational companies such as Nestle Chile, International Paper,
Gerber and most recently Wyetch Inc, where he held the position of
business unit manager.

A native of Chile, Mr. Zuckermann holds a bachelor’s degree in
commercial engineering from the Catholic University of Chile and
is fluent in Spanish and English.

Herbalife Ltd. (NYSE: HLF) -- http://www.herbalife.com/-- is a
global network marketing company that sells weight management,
nutritional supplement, energy & fitness products and personal
care products through a network of over 1.7 million independent
distributors where the company currently sells the products
through retail stores and an employed sales force.  The company
reports in the U.S., Canada, Jamaica, Mexico, Costa Rica, El
Salvador, Panama, the Dominican Republic, Brazil, Europe,
Africa, New Zealand, and Australia.  Herbalife was
founded in 1980 and is based in Grand Cayman, Cayman Islands.

                          *      *      *

In April 2007, Standard & Poor's Ratings Services said that its
'BB+' corporate credit rating on Herbalife Ltd. remains on
CreditWatch with negative implications following the company's
announcement that the company's board of directors has rejected
a bid to be acquired by Whitney V L.P.  The board indicated that
although it views Whitney's bid as too low, it would consider an
improved offer.


METHANEX CORP: Will Develop US$5 Million Wind Farm in Chile
-----------------------------------------------------------
Nathan Crooks at Business News Americas reports that a Methanex
Corp. spokesperson said that the firm will develop a wind farm in
Magallanes, Chile, at a cost of US$5 million.

BNamericas relates that the project could come online next year.  
According to the report, Methanex could submit in two months the
environmental impact assessment for the 2.3-megawatt project
planned for the Cabo Negro complex about 28kilometers north of
Punta Arenas.  The project would use three 800-kilowatt turbines,
each about 60 meters high, the same report states.

Methanex was affected when Argentina suspended natural gas exports
to Chile, BNamericas notes.  Methanex has to rely on domestic gas
for its methanol production, with its plants in Chile have since
been operating at around 30% capacity, BNamericas states.

Methanex's board is still considering the project, BNamericas
reports, citing the spokesperson.

Vancouver-based Methanex Corp. (Toronto: MX) (NASDAQGM: MEOH) --
http://www.methanex.com/-- is a publicly-traded company engaged
in the production, distribution, and marketing of methanol.  The
company's stock also trate on foreign securities market of the
Santiago Stock Exchange in Chile under the trading symbol
“Methanex”.

                          *     *     *

Moody's Investor Services' credit ratings for the company's
unsecured notes at Sept. 30, 2007, is Ba1.  Moody's said the
outlook is stable.



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

ECOPETROL SA: Buys Rights to Gulf of Mexico Blocks for US$510 Mil.
------------------------------------------------------------------
Javier Mozzo at Reuters reports that Ecopetrol SA has acquired
rights to production blocks in the Gulf of Mexico from Union Oil
Company of California for US$510 million.

Reuters relates that the deal is awaiting regulatory approval,
which include that of the U.S. Federal Trade Commission.

According to Reuters, Ecopetrol will invest US$4.185 billion this
year, compared to US$1.76 billion last year.  About US$1.9 billion
will be invested to develop oil and gas production and US$467
million is alloted to exploration activities, including the
drilling of 20 exploration wells.

                         About Ecopetrol

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

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 6, 2007, Fitch Ratings affirmed Ecopetrol S.A.'s foreign
and currency issuer default rating at 'BB+'.



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

BANCO DE RESERVAS: Fitch Affirms B Ratings With Positive Outlook
----------------------------------------------------------------
Fitch has affirmed Banco de Reservas de la Republica Dominicana,
Banco de Servicios Multiples' ratings as:

  -- Foreign-currency Issuer Default rating at 'B';
  -- Local currency Issuer Default rating at 'B';
  -- Short-Term Foreign Currency IDR at 'B';
  -- Short-Term Local Currency IDR at 'B';
  -- Individual Rating at 'D';
  -- Support Rating of at 4;
  -- Support Floor at B;
  -- National Long-Term Rating at A+(dom)
  -- National Short-Term Rating at F-1(dom)

The Rating Outlook is Positive.

Banco de Reservas IDRs reflect the support provided by its
shareholder, the Dominican government.  In addition, the bank's
individual rating is supported by its ample market share, the
stability of its deposit base and moderate profitability ratios.  
However, a tight capital base, the significant exposure to the
Dominican government on the bank's balance sheet and below-average
asset quality metrics limit the bank's individual rating.  The
bank's ratings have a Positive Rating Outlook, similar to the
outlook of the sovereign.  Positive changes in these ratings will
be contingent upon changes in the sovereign's credit worthiness
and/or an improvement in its asset quality and capitalization.

Similar to other public entities and exacerbated by a capital
injection made in the form of non-tradable government securities,
Banco de Reservas shows a significant exposure to the sovereign in
terms of loans and securities, although it is slightly decreasing.  
At year-end December 2007 the exposure reached 3.0 times equity,
below the 5.1 at year-end 2004, but still high given the
sovereign's low IDR.

Despite its recent improvement, overall asset quality metric
compares unfavorably with the market average and regional
standards, even when all the public sector exposure is classified
current.  As such, the ratio of past-due loans to total loans
stood at 5.9% at year-end 2007; if the ratio is adjusted just to
consider the private sector exposure, the impairment ratio would
be almost 8%.  At the same date overall provisioning (6.4% of
total loans) seem tight.

Despite its low-cost funding base, above-average loan loss
provision charges and a highly concentrated revenue base have
limited the bank's profitability; as such, during year 2007 the
return of average assets ratio reached 2%.

Several capital infusions and below-average appropriations of net
income have helped to improve its capital base.  Nevertheless, its
sizable holding of fixed and foreclosed assets still hinders its
capital base.  At end June 2008 the equity-to-assets ratio stood
at 9.8%, while the Free capital ratio was 3.5%, still below
international best practices.

As of year-end December 2007, Banco de Reservas ranked first out
of 13 commercial and multiple service banks, with 25% of total
system assets.  The bank is the main government paying agent and
also has adequate participation in the consumer and corporate
markets.

Banco de Reservas de la Republica Dominicana --
http://www.banreservas.com.do/-- is an International
government-owned commercial bank located in Santo Domingo,
Dominican Republic.

As reported in the Troubled Company Reporter-Latin America on
Nov. 9, 2007, Fitch Ratings assigned B foreign and local
currency issuer default ratings to Banco de Reservas de la
Republica Dominicana.  Fitch said the rating outlook is
positive.


PRC LLC: Investor Sues Former Parent IAC for Non-Disclosure
-----------------------------------------------------------
PRC LLC buyer Diamond Castle Holding LLC has filed a lawsuit
against seller Barry Diller's IAC/InterActive Corp. seeking
US$135 million in damages and claiming IAC's failure to disclose
the true business nature of PRC, various sources report.

Fourteen months following Diamond Castle's purchase of call center
operator PRC from IAC for US$278 million, PRC filed for bankruptcy
in January 2008.  PRC's Chapter 11 proceeding and emergence used
up most of Diamond Castle's US$105 million investment, Patrick
Danner of the Miami Herald writes.

Cellular News discloses that during sale negotiations, Diamond
Castle was led to believe that a PRC-Verizon Wireless contract
would generate US$48 million revenue and would earn US$8 million
profit.  Instead, Diamond Castle lost US$18 million in 2007.

In addition, sources report that Diamond Castle claims that IAC
hid woes relating to staff retention and wages.  Moreover, Verizon
threaten to pull out its contract due to the poor performance of
the call center company.

The Miami Herald quoted Diamond Castle as saying "Had IAC or PRC
disclosed the true circumstances surrounding the Verizon Wireless
contract . . . , as they were contractually obligated to do, we
would not have proceeded with the PRC acquisition."

                      About Diamond Castle

Headquartered in New York City, Diamond Castle Holdings LLC --
http://www.dchold.com/-- is a private equity investment firm that
works in partnership with management teams to execute leveraged
buyouts and make growth capital and equity-like investments in
public and private companies.  The company invests across a wide
range of industries, with particular focus on the energy and
power, financial services, media and communications, and
healthcare sectors.

                           About IAC

IAC/InterActiveCorp (Nasdaq: IACI) -- http://iac.com/-- operates
a portfolio of specialized and global brands in the sectors:
Retailing, which includes the United States and International
segments; Services, which includes the Ticketing, Lending, Real
Estate, Teleservices and Home Services reporting segments; Media &
Advertising, and Membership & Subscriptions, which includes the
Vacations, Personals and Discounts reporting segments.

                          About PRC LLC

Founded in 1982 and based in Fort Lauderdale, Florida, PRC, LLC --
http://www.prcnet.com/-- provides customer management solutions.   
PRC markets its services to brand-focused, Fortune 500 U.S.
corporations and delivers these services through a global network
of call centers in the U.S., Philippines, India, and the Dominican
Republic.

PRC is the sole member of each of PRC B2B, LLC, and Precision
Response of Pennsylvania, LLC, and the sole shareholder of Access
Direct Telemarketing, Inc., each of which is a debtor and debtor-
in-possession in PRC's joint Chapter 11 cases.

Panther/DCP Intermediate Holdings, LLC, is the sole member of
PRC.

PRC, together with its operating subsidiaries PRC B2B, Access
Direct, and PRC PA, provides complex, consultative, outsourced
services in the Customer Care and Sales & Marketing segments of
the business process outsourcing industry.  Since 1982, the
company has acquired and grown customer relationships for some of
the world's largest and most brand-focused corporations in the
financial services, media, telecommunications, transportation, and
retail industries.

The company and four of its affiliates filed for Chapter 11
protection on Jan. 23, 2008 (Bankr. S.D.N.Y. Lead Case No. 08-
10239).  Alfredo R. Perez, Esq., at Weil, Gotshal & Manges, LLP,
represents the Debtors in their restructuring efforts.  The
Debtors chose Stephen Dube, at CXO LLC, as their restructuring and
turnaround advisor.  Additionally, Evercore Group LLC provides
investment and financial counsel to the Debtors.

The Debtors' consolidated financial condition as of Dec. 31, 2007
showed total assets of US$354,000,000 and total debts of
US$261,000,000.

The Debtors submitted to the Court a Chapter 11 Plan of
Reorganization on Feb. 12, 2008.  On June 20, 2008, the Court
entered an order confirming the Debtors' Plan.



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

GOODYEAR TIRE: Unit Hires Tropical Battery as Distributor
---------------------------------------------------------
Published reports say that Goodyear Tire & Rubber Co.'s Goodyear
Jamaica Limited has hired Tropical Battery as its distributor to
try to strengthen its position in the Jamaican market.

According to The Jamaica Observer, Goodyear Tire has seen yearly
decline in its profit margins both in Jamaica and regionally since
2005.  For the 30 months to June 30, 2008, Goodyear Tire made
US$86 million in losses in Jamaica, while making
US$129 million in profit from its other Caribbean and Latin
American operations.

The Observer quoted Goodyear Jamaica's Manager Steven Miller as
saying, “Their (Tropical Battery's) strong distribution structure,
sales and service capabilities will significantly improve our
customers' overall brand experience.  Tropical's leadership team
has a proven track record of success and is committed to growing
the Goodyear brand across Jamaica.”

Tropical Battery started distributing Goodyear products in Jamaica
on Sept. 1, according to reports.  Radio Jamaica relates that
Tropical Battery replaced Tyre Sales Limited, which served
Goodyear Jamaica for many years in a similar capacity.

Goodyear Jamaica will continue to run a marketing and
administrative office in Kingston, serving clients in Jamaica and
across the Caribbean, The Observer states.

Headquartered in Akron, Ohio, The Goodyear Tire & Rubber Company
(NYSE: GT) -- http://www.goodyear.com/-- is the world's largest
tire company.  The company manufactures tires, engineered rubber
products and chemicals in more than 60 facilities in 26
countries and employs 80,000 people worldwide.  Goodyear has
subsidiaries in New Zealand, Australia, Venezuela, Peru, Mexico,
Luxembourg, Finland, Korea, and Japan.  

                          *     *     *

As reported by the Troubled Company Reporter-Europe on March 6,
2008, Fitch Ratings upgraded The Goodyear Tire & Rubber
Company's Issuer Default Rating to 'BB-' from 'B+' and senior
unsecured debt rating to 'B+' from 'B-/RR6'.

Goodyear Tire & Rubber Company continues to carry Moody's "Ba3"
senior secured debt, senior unsecured debt, probability of
default and long term corporate family ratings.

In addition, the company still carries Standard & Poor's "BB-"
long term local and foreign issuer credit ratings and Fitch's
"B+" senior unsecured debt rating.



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

VISTEON CORP: Ford Motor to Contribute US$50MM in Escrow Account
----------------------------------------------------------------
Visteon Corporation, Ford Motor Company and Ford-managed entity
Automotive Components Holdings, LLC, amended these agreements:

    1) The Escrow Agreement, dated as of Oct. 1, 2005, among
Ford, the company and Deutsche Bank Trust Company Americas, was
amended to, among other things, provide that Ford will contribute
an additional US$50 million into the escrow account, and to
provide that such additional funds will be available to the
company to fund restructuring and other qualifying costs, as
defined within the Escrow Agreement, on a 100% basis.

    2) The Reimbursement Agreement, dated as of Oct. 1, 2005,
between Ford and the company, was amended and restated to, among
other things, require Ford to reimburse the company for certain
severance expenses and other qualifying termination benefits, as
defined in such agreement, relating to the termination of salaried
employees who were leased to ACH.  Previously, the amount required
to be reimbursed by Ford was capped at US$150 million, of which
the first US$50 million was to be funded in total by Ford and the
remaining US$100 million was to be matched by the company.  Any
unused portion of the US$150 million as of Dec. 31, 2009, was to
be deposited into the escrow account governed by the Escrow
Agreement.

    3) The Master Services Agreement, dated as of Sept. 30, 2005,
as amended, between the company and ACH, was amended to, among
other things, extend the term that Visteon will provide certain
services to ACH, Ford and others from Dec. 31, 2009, to Jan. 1,
2011.

    4) The Visteon Salaried Employee Lease Agreement, dated as of
Oct. 1, 2005, as amended, between the company and ACH was amended
to, among other things, extend the term that ACH may lease
salaried employees of the company from Dec. 31, 2010 to Dec. 31,
2014.

    5) The Intellectual Property Contribution Agreement, dated as
of Oct. 1, 2005, as amended, among the company, Visteon Global
Technologies, Inc., Automotive Components Holdings, Inc. and ACH
was amended to, among other things, to clarify the availability
for use of certain patents, design tools and other proprietary
information.

                    About Ford Motor Co.

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

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

                         About Visteon

Headquartered in Van Buren Township, Michigan, Visteon
Corporation (NYSE: VC) -- http://www.visteon.com/-- is an   
automotive supplier that designs, engineers and manufactures
innovative climate, interior, electronic and lighting products
for vehicle manufacturers, and also provides a range of products
and services to aftermarket customers.  The company also has
corporate offices in Shanghai, China; and Kerpen, Germany.  
The company has Latin America offices in Argentina, Brazil and
Mexico.  The company has facilities in 26 countries and employs
approximately 43,000 people.

Visteon Corporation's consolidated balance sheet at June 30, 2008,
showed US$7.02 billion in total assets, US$6.93 billion in total
liabilities, and US$295.0 million in minority interests, resulting
in a US$207.0 million stockholders' deficit.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 27, 2008, Moody's Investors Service assigned a Caa1 (LGD4,
66%) rating to Visteon Corporation's new senior unsecured notes
maturing in 2016.  The new senior unsecured notes have been
issued consistent with the structure and terms that were in
place when the securities were initially proposed and assigned a
prospective rating on May 22, 2008.

Fitch Ratings has affirmed Visteon Corporation's ratings as: (i)
issuer default rating (IDR) at 'CCC'; (ii) senior secured bank
facilities at 'B/RR1'; and (iii) unsecured notes at 'CC/RR6'.
Fitch has also assigned a rating of 'CC/RR6' to Visteon's new
12.25% senior unsecured notes being issued as part of the
company's debt exchange offer. The ratings cover approximately
US$2.8 billion in debt.  The rating outlook is negative.


VISTEON CORP: Closes UK Facility Sale, Continues UK Restructuring
-----------------------------------------------------------------
Visteon Corporation disclosed the sale of its facility in
Halewood, United Kingdom, to International Automotive Components
Group Europe (IAC Europe), a key automotive supplier for interior
trim, carpet and acoustics systems, and exterior trim.

The Halewood facility is dedicated to the assembly and sequencing
of cockpit systems and consoles to Jaguar Land Rover's Halewood
operation.  The Halewood facility had 2007 sales of approximately
US$150 million and operated on close to a break-even basis.  Under
the business purchase agreement, Visteon will transfer the
assembly facility and associated assets including purchase and
supply contracts to IAC Europe.  The nearly 150 employees
currently employed at the facility will also transfer to the new
owner.  Terms of the sale were not disclosed.

"Following the recently announced customer agreements and the
Swansea plant sale, the divestiture of our Halewood facility marks
another important step in improving the financial performance of
our UK operations," said Donald J. Stebbins, Visteon president and
chief executive officer.

Headquartered in Van Buren Township, Michigan, Visteon
Corporation (NYSE: VC) -- http://www.visteon.com/-- is an   
automotive supplier that designs, engineers and manufactures
innovative climate, interior, electronic and lighting products
for vehicle manufacturers, and also provides a range of products
and services to aftermarket customers.  The company also has
corporate offices in Shanghai, China; and Kerpen, Germany.  
The company has Latin America offices in Argentina, Brazil and
Mexico.  The company has facilities in 26 countries and employs
approximately 43,000 people.

Visteon Corporation's consolidated balance sheet at June 30, 2008,
showed US$7.02 billion in total assets, US$6.93 billion in total
liabilities, and US$295.0 million in minority interests, resulting
in a US$207.0 million stockholders' deficit.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 27, 2008, Moody's Investors Service assigned a Caa1 (LGD4,
66%) rating to Visteon Corporation's new senior unsecured notes
maturing in 2016.  The new senior unsecured notes have been
issued consistent with the structure and terms that were in
place when the securities were initially proposed and assigned a
prospective rating on May 22, 2008.

Fitch Ratings has affirmed Visteon Corporation's ratings as: (i)
issuer default rating (IDR) at 'CCC'; (ii) senior secured bank
facilities at 'B/RR1'; and (iii) unsecured notes at 'CC/RR6'.
Fitch has also assigned a rating of 'CC/RR6' to Visteon's new
12.25% senior unsecured notes being issued as part of the
company's debt exchange offer. The ratings cover approximately
US$2.8 billion in debt.  The rating outlook is negative.



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

HINDU CREDIT: Chief Says Vishnu Bisnath's Offers Make Little Sense
------------------------------------------------------------------
Anna Rose Madray at Trinidad & Tobago Newsday reports that Hindu
Credit Union Co-Operative Society Limited President Harry
Harnarine told reporters that HCU Depositors and Shareholders
Group (HCUDSG) secretary Vishnu Bisnath's proposals for the
company made little sense.

Newsday relates that Mr. Harnarine, along with some of his
supporters, disrupted a meeting organized by HCUDSG, who met to
discuss the future of Hindu Credit.  Shareholders, investors, and
Commissioner of Co-operatives Charles Mitchell were to decide
during the meeting on what action they could take to protect their
interests, Newsday says.  Mr. Mitchell, reportedly tasked to
determine the fate of Hindu Credit, in two weeks didn't attend the
meeting, the report states.  Newsday states that HCUDSG claims to
be unaffiliated with the HCU Group of Companies and is calling on
Mr. Mitchell to send shareholders a copy of an Ernst and Young
audit of Hindu Credit which was reportedly submitted to the
commissioner on Friday.

According to Newsday, Mr. Bisnath called for depositors to start
“mobilizing fellow investors” and encourage them “to append their
names to a draft letter” addressed to Mr. Mitchell asking for
greater involvement in an issue which concerns their financial
future”.  

Newsday notes that Mr. Bisnath said he was concerned that
shareholders have to cover the cost of the defense in Hindu
Credit's court case.  “We would like to write to Judge Nolan
Bureaux on these administrative costs,” Newsday quoted Mr. Bisnath
as saying.  

The report says Mr. Bisnath also questioned why some of Hindu
Credit's units were being closed down, rebranded, and taken over,
while others were not.  He urged shareholders to ensure that Hindu
Credit's profitable assets were maintained, according to the same
report.

Newsday states that Mr. Harnarine said that his lawyers would be
holding a meeting for shareholders by the end of this week.  He
argued that a new board should not be formed, Newsday reports.

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.



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

PORTOLA PACKAGING: Moody's Lowers POD Rating to D from Ca
---------------------------------------------------------
Moody's Investors Service lowered the Probability of Default
Rating for Portola Packaging, Inc. to D following the company's
announcement that it filed a voluntary petition for Chapter 11
reorganization.  Moody's will withdraw all the company's ratings
within several days.

Moody's took these rating actions:

  -- Downgraded, Probability of Default Rating, to D from Ca

The company announced that holders of approximately 90% of the
principal amount of its 8-1/4% Senior Notes due 2012 agreed to a
restructuring of the company as outlined in the previously
announced restructuring agreement dated July 24, 2008.  According
to the plan, holders of the Senior Notes will receive 100% of the
common stock of reorganized Portola in exchange for their claims.
Wayzata Investment Partners LLC is expected to be Portola's
controlling shareholder upon its emergence from bankruptcy.  The
company anticipates completing its pre-packaged reorganization and
emerging from Chapter 11 in mid-October 2008.

Portola also announced that it has reached agreement with its
existing secured lenders to provide a US$79 million debtor-in-
possession facility to pay off the outstanding indebtedness under
the existing secured facilities and finance its ongoing
operations.

Moody's had previously downgraded the Corporate Family Rating and
other ratings of Portola on July 25, 2008, following the company's
announcement that it intended to file for bankruptcy.

Headquartered in Batavia, Illinois, Portola Packaging Inc. --
http://www.portpack.com/-- designs, manufactures and markets
tamper-evident plastic closures used in dairy, fruit juice,
bottled water, sports drinks, institutional food and other non-
carbonated beverage markets.  The company also produces a wide
variety of plastic bottles for use in dairy, water and juice
markets, including various high density bottles, as well as five-
gallon polycarbonate water bottles.  In addition, the company
designs, manufactures and markets capping equipment for use in
high speed bottling, filling and packaging production lines.
Portola is also engaged in the manufacture and sale of tooling and
molds used for blow molding.  The company has locations in Puerto
Rico and Mexico.


SPANISH BROADCASTING: May Get Delisting Notification From NASDAQ
----------------------------------------------------------------
Spanish Broadcasting System Inc. shares has closed below the
required US$1 threshold last Thursday, prompting a warning from
Nasdaq to boost its share price or be delisted, Financial News USA
reports.

The report relates that the company's shares closed above US$1.04
on July 8.  Discovery Group, a merchant banking firm which owns a
9.8% stake in the company, filed a letter to the the United States
Securities and Exchange Commission on February, claiming the
erosion of shareholder value and the "wasteful" compensation of
Chief Executive Officer Raul Alarcon Jr.

On Aug. 22, 2008, Spanish Broadcasting said in a press statement
that it received a written deficiency notice from the Nasdaq Stock
Market on Aug. 20, stating that the company was not in compliance
with the minimum bid price rule contained in Nasdaq Marketplace
Rule 4450(b) (Minimum Bid Price Rule) because the bid price per
share of the company's common stock closed below US$1 per share
for 30 consecutive business days.  The Notice also stated that in
accordance with Nasdaq Marketplace Rule 4450(e)(2),  the company
will be provided 180 calendar days, or until Feb. 17, 2009, to
regain compliance with the Minimum Bid Price Rule.  To regain
compliance with the Minimum Bid Price Rule the closing bid price
of the company's common stock must remain at or above US$1 per
share for at least 10 consecutive business days.  Spanish
Broadcasting intends to use all reasonable efforts to maintain the
listing of its common stock on the Nasdaq Global Market, but there
can be no guarantee that the company will regain compliance with
the continued listing requirements.

According to Financial News, Spanish Broadcasting booked a US$395
million pretax loss in the quarter ending June 30, 2008, mainly
due to a US$396 million impairment charge for write-downs on radio
stations in Los Angeles, San Francisco, Puerto Rico, Miami and New
York.

As reported in the Troubled Company Reporter-Latin America on May
12, 2008, Spanish Broadcasting incurred an operating loss of
US$2.8 million for the quarter ended March 31, 2008, compared to
US$6 million income of the same period in year 2007.  The loss was
attributable to the continuing effects of a soft economy and
increases in programming and marketing investments during the
quarter.

                  About Spanish Broadcasting

Spanish Broadcasting System Inc. (NasdaqGM: SBSA) --
http://www.spanishbroadcasting.com/--  operates as a media and    
entertainment company in the United States.  The company owns
and operates 20 radio stations and 2 television stations.  Its
television stations operate under the MEGA TV brand, serving the
south Florida market.  The company also operates LaMusica.com,
Mega.tv, and a radio station web sites, which are bilingual web
sites that provide content related to Latin music, entertainment,
news, and culture.  In addition, it produces live
concerts and events throughout the United States and Puerto
Rico.

                         *      *      *

As reported in the Troubled Company Reporter on Aug. 19, 2008,
Standard & Poor's Ratings Services revised its rating outlook on
Miami, Florida-based Spanish Broadcasting System Inc.  to negative
from stable.  "At the same time, we affirmed our ratings on the
company, including the 'B-' corporate credit rating," S&P said.

TCR-Latin America reported on March 14, 2008, that Spanish
Broadcasting System Inc. incurred US$4,964 million net loss for
the fourth quarter ended Dec. 31, 2007, compared to US$6,945
million net loss for the fourth quarter ended Dec. 31. 2006.



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

ELECTRICIDAD DE CARACAS: Restoring Power After Blackout
-------------------------------------------------------
Matthew Walter and Steven Bodzin at Bloomberg News report that
Venezuelan utilities that included C.A. La Electricidad De
Caracas, began restoring electricity in Caracas and in some states
after a power outage.

Corporacion Electrica de Venezuela's President Hipolito Izquierdo
explained in a Venezuelan state television that a power plant was
shut down due to a malfunction in a high-voltage transmission
wire.  According to the broadcast, Mr. Izquierdo said that areas
like Maracaibo and Zulia were affected.

Bloomberg quoted Electricidad de Caracas' President Javier
Alvarado as saying, “We expect that in the next couple of hours
we'll have restored the final connections.”

Petroleos de Venezuela SA's Refining Chief Adrubal Chavez said in
a telephone interview with Bloomberg that the firm didn't have any
reports that the blackout had affected any of the refineries.

Headquartered in Caracas, Venezuela, C.A. La Electricidad de
Caracas generates, transmits and distributes electricity,
primarily to the city of Caracas, Venezuela, and its surrounding
areas.  The energy distributed is generated in five thermoelectric
plants.  

                        *      *      *

As reported in the Troubled Company Reporter-Latin America on
April 24, 2008, Fitch Ratings upgraded both the foreign currency
and local currency issuer default ratings for C.A. La Electricidad
de Caracas to 'BB-' from 'B+.'  Fitch also assigned a 'BB-' rating
to the proposed issuance of up to US$650 million
senior unsecured notes due 2018 to be issued by EDC.  Fitch said
the rating outlook remains negative.

As reported in the Troubled Company Reporter-Latin America on May
2, 2008, Standard & Poor's Ratings Services assigned its 'BB-'
rating to C.A. La Electricidad De Caracas' US$650 million senior
unsecured notes due 2018.  S&P also assigned its 'BB-' local
currency corporate credit rating to the company.  At the same
time, S&P affirmed its 'BB-' foreign currency corporate credit
rating and its 'BB-' senior unsecured debt rating on Electricidad
de Caracas Finance B.V.'s (EDC Finance) notes due 2014.  S&P said
the outlook is stable.



                            ***********

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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