TCRLA_Public/090414.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

          Tuesday, April 14, 2009, Vol. 9, No. 72

                            Headlines

A N T I G U A  &  B A R B U D A

STANFORD INT'L BANK: Sends Home 77 Employees Without Severance Pay
STANFORD INT'L BANK: Owner Says Receiver is Wasting Firm's Assets
STANFORD INT'L BANK: Stanford Group CFO May Seek Plea Bargain


A R G E N T I N A

AGENCIA ECUADOR: Proofs of Claim Verification Due on April 22
COVISAN SA: Trustee Verifying Proofs of Claim Until June 19
FRITCHIP SA: Proofs of Claim Verification Due on April 24
LABORATORIO ARGENTINO: Asks for Opening of Preventive Contest
MEDIZIN SA: Proofs of Claim Verification Due on June 5

PINCHOS SRL: Proofs of Claim Verification Due on June 3
TRANSPORTES ENERGIA: Proofs of Claim Verification Due on June 1


B R A Z I L

BANCO DO BRASIL: “Gov't Interference” Spurs Cut at Itau Corretora
BNDES: To Provide BRL101-Mln Funding for Hydroelectricity Project
TAM SA: Records 86.8% Share in International Market in March
TELE NORTE: Gets Bids for Network Maintenance Contracts


C A Y M A N  I S L A N D S

AERCAP LEASING: Members to Hear Wind-Up Report on April 29
BIG INVESTMENTS: Members' Meeting Set for April 28
BLF WAREHOUSE: Members to Hear Wind-Up Report on April 30
CLIFFWOOD ABSOLUTE: Members to Hear Wind-Up Report on April 21
COMMANDO (CAYMAN): Members' Meeting Set for May 1

CONTEXT PYTHON: Shareholders' Meeting Set for May 1
CYRUS REINSURANCE: Members to Hear Wind-Up Report on May 15
FIZZBIZZ LIMITED: Members' Meeting Set for April 30
FRONTIER V: Shareholders' Meeting Set for May 1
GREAT OAK: Shareholders' Meeting Set for May 1

NEPTUNE CDO: Shareholders' Meeting Set for May 1
NNE ILIT: Members to Hear Wind-Up Report on April 30
NS INVESTMENTS: Shareholders' Meeting Set for May 1
OIL ENTERPRISES: Members to Hear Wind-Up Report on April 30
PENGANA CAPITAL: Shareholders' Meeting Set for May 1

RUMNA LIMITED: Members to Hear Wind-Up Report on May 1
SANWA CAPITAL: Shareholders' Meeting Set for May 1
SMITH BREEDEN: Shareholders' Meeting Set for May 1
SPROUT II: Members to Hear Wind-Up Report on April 30
SPW FUNDING: Members to Hear Wind-Up Report on April 30


C O L O M B I A

* COLOMBIA: Economy Faces “Difficult” 2009, Prof. Roubini Says


D O M I N I C A N  R E P U B L I C

CAP CANA: Extends Consent Payment Deadline for 2013 Senior Notes
* DOMINICAN REP: Free Trade Zone & Tobacco Firms Cut 5,000 Jobs


E C U A D O R

PETROECUADOR: Seeks Oil Field Bids for the Third Time


G U Y A N A

CL FINANCIAL: Sales Agents Maybe Required to Repay Commissions
CL FIN'L: Clico Guyana Judicial Manager to Present Findings Today


J A M A I C A

AIR JAMAICA: To Offer Additional Flights Between Orlando & Jamaica


P U E R T O  R I C O

ROKAYOZA INC: Voluntary Chapter 11 Case Summary


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Government May Face Problems in Bailing Out Firm
WELDFAB LIMITED: Sends 76 Employees Home


V I R G I N  I S L A N D S

BERNARD L. MADOFF: Trustee Seeks US$150Mln from Gibraltar Bank


X X X X X X X X

* Large Companies With Insolvent Balance Sheets


                         - - - - -


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

STANFORD INT'L BANK: Sends Home 77 Employees Without Severance Pay
------------------------------------------------------------------
Stanford International Bank Limited (SIBL) and Stanford Trust sent
home 77 of their employees with no word of a severance pay, Oscar
Ramjeet of Caribbean Net News reports.  The affected workers,
Caribbean360.com relates, were informed by receiver-managers Nigel
Hamilton-Smith and Peter Wastell, of British firm Vantis Business
Recovery Services.

"The operations of both companies have been significantly scaled
back to deal solely with investor enquiries, and so we must match
the cost base of each business with the reduced level of day-to-
day activities.  This has sadly meant making 77 members of staff
redundant," Caribbean360.com quoted Mr. Hamilton-Smith as saying.

The SEC, on Feb. 17, charged Robert Allen Stanford and three of
his companies for orchestrating a fraudulent, multi-billion dollar
investment scheme centering on an US$8 billion Certificate of
Deposit program.  Mr. Stanford's companies include SIBL, Stanford
Group Company, and investment adviser Stanford Capital Management.

As reported in the Troubled Company Reporter-Latin America on
April 8, 2009, Bloomberg News said U.S. District Judge David
Godbey seized all of Mr. Stanford’s corporate and personal assets
and placed them under the control of Dallas receiver Ralph Janvey.

According to Caribbean Net News, an unnamed affected employee said
around 20 Antiguan employees of SIBL remained to assist the
receivers with their work.

Caribbean Net News recalls the Antiguan employees, in an April 8
meeting, were told to gather up all their personal effects and
leave the premises before midday.  The same report relates no
letters, indicating formally that their employment or contracts
had come to an end, were handed to them by the three member team
of receivers.

Caribbean Net News notes the employees said the receivers
explained to the workers that they were no longer able to meet the
salary requirements of staff and therefore had to let them go and
that there was no possibility of the bank ever opening again.

According to Caribbean360.com, the workers did not receive any
outstanding monies or redundancy letters, but they were told to
return on April 15 for their last pay cheques.  It's still
uncertain when they will get their severance, the same report
says.

                   About Stanford International

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.


STANFORD INT'L BANK: Owner Says Receiver is Wasting Firm's Assets
-----------------------------------------------------------------
Stanford International Bank Limited (SIBL) owner Robert Allen
Stanford said court-appointed Stanford Group receiver, Dallas-
based lawyer Ralph Janvey, is wasting the company's assets,
Reuters reports, citing a statement filed in a U.S. Court.

The SEC, on Feb. 17, charged Mr. Stanford and three of his
companies for orchestrating a fraudulent, multi-billion dollar
investment scheme centering on an US$8 billion Certificate of
Deposit program.  Mr. Stanford's companies include SIBL, Stanford
Group Company, and investment adviser Stanford Capital Management.

In a two-sentence filing, Reuters notes Mr. Stanford told U.S.
Judge David Godbey that he objects to Mr. Janvey's appointment as
receiver "because R Allen Stanford believes the Receiver is
wasting the assets of the Stanford entities and of R Allen
Stanford, rather than preserving them."

As reported in the Troubled Company Reporter-Latin America on
April 8, 2009, Bloomberg News said Judge Godbey seized all of Mr.
Stanford’s corporate and personal assets and placed them under the
control of Mr. Janvey.

In court papers filed on April 6, Reuters discloses Mr. Janvey
said he has released 28,000 accounts (80%) of the Stanford
accounts, and allowing investors to intervene in the case will be
disruptive.

                   About Stanford International

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.


STANFORD INT'L BANK: Stanford Group CFO May Seek Plea Bargain
-------------------------------------------------------------
Stanford Group Company (SGC) Chief Financial Officer James "Jim"
Davis is expected to enter plea negotiations with federal
prosecutors, Reuters reports, citing Mr. Davis' lawyers.

The SEC, on Feb. 17, charged Robert Allen Stanford and three of
his companies for orchestrating a fraudulent, multi-billion dollar
investment scheme centering on an US$8 billion Certificate of
Deposit program.  Mr. Stanford's companies include Stanford
International Bank Limited, Stanford Group Company, and investment
adviser Stanford Capital Management.  The SEC also charged Mr.
Davis as well as Stanford Financial Group (SFG) Chief Investment
Officer Laura Pendergest-Holt in the enforcement action.

Mr. Davis's attorney, David Finn, said his client has been
cooperating with investigators and expects to enter into talks as
early as this week that could settle civil charges and any
possible criminal charges.  "As recently as [April 8], Mr. Davis
traveled to meet with several agents of the FBI to locate and
retrieve additional pieces of evidence that could be important to
the government's case," Mr. Finn told Reuters in a telephone
interview.

As reported in the Troubled Company Reporter on March 25, 2009,
The Wall Street Journal said Mr. Davis is cooperating with
authorities in the investigation of an alleged US$8 billion Ponzi
scheme at the company.  WSJ related that people familiar with the
matter said that Mr. Davis' cooperation could advance the
inquiries, which haven't been able to secure information from Mr.
Stanford, who had asserted his Fifth Amendment right against self-
incrimination in its civil case against him.

                   About Stanford International

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.



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

AGENCIA ECUADOR: Proofs of Claim Verification Due on April 22
-------------------------------------------------------------
Ariel Marsili, the court-appointed trustee for Agencia Ecuador
SA's bankruptcy proceeding, will be verifying creditors' proofs of
claim until April 22, 2009.

Mr. Marsili will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 38, 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 the company and its creditors.

The Trustee can be reached at:

          Ariel Marsili
          Pedro Lozano 5776
          Buenos Aires, Argentina


COVISAN SA: Trustee Verifying Proofs of Claim Until June 19
-----------------------------------------------------------
The court-appointed trustee for Covisan S.A.'s reorganization
proceedings will be verifying creditors' proofs of claim until
June 19, 2009.


FRITCHIP SA: Proofs of Claim Verification Due on April 24
---------------------------------------------------------
Hugo Mancusi, the court-appointed trustee for Fritchip SA's
bankruptcy proceedings will be verifying creditors' proofs of
claim until April 24, 2009.

Mr. Mancusi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 51, 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 the company and its creditors.

The Trustee can be reached at:

          Hugo Mancusi
          Avenida Corrientes 3169
          Buenos Aires, Argentina


LABORATORIO ARGENTINO: Asks for Opening of Preventive Contest
-------------------------------------------------------------
Laboratorio Argentino de Medicamentos SA (Lamsa) asked for the
opening of preventive contest before The National Commercial Court
of First Instance No. 9 in Buenos Aires, with the assistance of
Clerk No. 17.


MEDIZIN SA: Proofs of Claim Verification Due on June 5
------------------------------------------------------
Luis Kuklis, the court-appointed trustee for Medizin SA's
bankruptcy proceeding, will be verifying creditors' proofs of
claim until June 5, 2009.

Mr. Kuklis will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 18 in Buenos Aires, with the assistance of Clerk
No. 35, 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 the company and its creditors.

The Trustee can be reached at:

          Luis Kuklis
          Lavalle 161
          Buenos Aires, Argentina


PINCHOS SRL: Proofs of Claim Verification Due on June 3
-------------------------------------------------------
Ernesto Garcia, the court-appointed trustee for Pinchos SRL's
bankruptcy proceeding, will be verifying creditors' proofs of
claim until June 3, 2009.

Mr. Garcia will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 52, 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 the company and its creditors.

The Trustee can be reached at:

          Ernesto Garcia
          Sarmiento 1587
          Buenos Aires, Argentina


TRANSPORTES ENERGIA: Proofs of Claim Verification Due on June 1
---------------------------------------------------------------
Ricardo Leibovicius, the court-appointed trustee for Transportes
Energia SRL's bankruptcy proceedings will be verifying creditors'
proofs of claim until June 1, 2009.

Mr. Leibovicius will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 12 in Buenos Aires, with the assistance of Clerk
No. 23, 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 the company and its creditors.

The Trustee can be reached at:

          Ricardo Leibovicius
          Tucuman 1585
          Buenos Aires, Argentina



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

BANCO DO BRASIL: “Gov't Interference” Spurs Cut at Itau Corretora
-----------------------------------------------------------------
State-owned Banco do Brasil SA was downgraded at Itau Corretora SA
on concern about increasing “government interference” in the bank
after Brazil President Luiz Inacio Lula da Silva replaced its
chief executive officer, Fabio Alves of Bloomberg News reports.

“In light of the CEO replacement and the change in the bank’s
strategic approach, we are recommending investors to realize the
gains after Banco do Brasil’s year-to-date outperformance versus
its peers,” Itau Corretora analysts Alcir Freitas, Wesley Okada
and Bento Mussnich wrote in a note to clients, Bloomberg News
relates.

“Concerns over government interference in Banco do Brasil
increased since 2008, when the crisis deepened in the local
market,” the analysts added.

As reported in the Troubled Company Reporter-Latin America on
April 13, 2009, Dow Jones Newswires said President Silva fired
Banco do Brasil CEO Antonio Francisco Lima Neto because of
concerns over persistently high interest charges for consumers.

According to the Associated Press, President Silva insisted he had
not fired Mr. Neto, rather Mr. Neto offered his resignation to
Brazil Finance Minister Guido Mantega.  However, AP related local
media have widely speculated that Mr. Neto was forced out.

Bloomberg News noted Mr. Mantega told reporters in Brasilia that
Aldemir Bendine, formerly vice president of credit and debit cards
and new business for retail services at Banco do Brasil, will
replace Mr. Neto as bank CEO.  AP said Mr. Bendine is set to take
over on April 29.

                      About Banco do Brasil

Banco do Brasil SA is Brazil's federal bank and is the largest in
Latin America with some 20 million clients and more than 7,000
points of sale (3,200 branches) in Brazil, and 34 offices and
partnerships in 26 other countries.  In addition to its
traditional retail banking services, Banco do Brasil underwrites
and sells bonds, conducts asset trading, offers investors
portfolio management services, conducts financial securities
advising, and provides market analysis and research.

                          *     *     *

As reported by the Troubled Company Reporter-Latin America on
Jan. 20, 2009, Fitch Ratings affirmed Banco do Brasil S.A.'s
Individual Rating at 'C/D'.


BNDES: To Provide BRL101-Mln Funding for Hydroelectricity Project
-----------------------------------------------------------------
Kenneth Rapoza of Dow Jones Newswires reports Banco Nacional de
Desenvolvimento Economico e Social SA (BNDES) will provide BRL101
million (US$46.5 million) of financing for a small hydroelectric
project.

According to the report, privately held energy company Neoenergia
will use the money for its Bahia PCH1 subsidiary in the northeast
to build a 25-megawatt hydroelectric dam.

The report relates total project costs are expected to come in
around BRL134.8 million.  BNDES, the report says, is the main
financial backer of the deal.

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

                          *     *     *

Banco Nacional continues to carry a Ba2 foreign long-term bank
deposit rating from Moody's Investors Service.  The rating was
assigned in August 2007.


TAM SA: Records 86.8% Share in International Market in March
------------------------------------------------------------
TAM S.A. reports operating data for March 2009, as disclosed by
the Brazilian National Civil Aviation Agency (ANAC).

According to ANAC, the airline registered a 16.6% increase in its
domestic supply (ASK) in March from the same period last year
while demand decreased 0.4%, resulting in a domestic load factor
of 59.1%, remaining above the 58.8% market average, composed of
3.6% demand and 12.2% supply growth.   The airline's domestic
market share (RPK) was 49.3% in the period.

In the international market, TAM SA registered 9.4% growth in RPK
and 26.3% in ASK, compared to March 2008.

TAM SA's international market share reached 86.8%, representing
17.9 p.p. growth year on year, while its international load factor
reached 66.2%, 4.2 p.p. higher than the market average of 62.0%.

                          About TAM S.A.

Based in Sao Paulo, Brazil, TAM S.A. -- http://www.tam.com.br/--
has business agreements with the regional airlines Pantanal,
Passaredo, Total and Trip.  As of Jan. 14, the daily flight on the
Corumba -- Campo Grande route in Mato Grosso do Sul began to be
operated by a partnership with Trip.  With the expansion of the
agreement with NHT, TAM will now be serving 82 destinations in
Brazil, 45 of which with its own flights.  In addition, the
company is strengthening its presence in Rio Grande do Sul and
Santa Catarina.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 14, 2008, Standard & Poor's Ratings Services lowered its
long-term corporate credit rating on Brazil-based airline TAM S.A.
to 'BB-' from 'BB'.  S&P's outlook is revised to stable from
negative.

As reported in the TCR-Latin America on June 23, 2008, Fitch
Ratings affirmed the 'BB' Foreign and Local Currency Issuer
Default Ratings of TAM S.A.  Fitch also affirmed the 'BB' rating
of its US$300 million senior unsecured notes due in 2017 as well
as the company's 'A+(bra)' national scale rating and its first
debentures issuance of BRL500 million.  Fitch revised its rating
outlook to negative from stable.


TELE NORTE: Gets Bids for Network Maintenance Contracts
-------------------------------------------------------
Telemar Norte Leste SA (Oi) said it received bids on contracts for
the maintenance of its network, Alastair Stewart of Dow Jones
Newswires reports.

According to the report, local business daily Valor Economico said
Ericsson, Alcatel-Lucent, Nokia Siemens and Huawei Technologies
Co. have already registered to submit bids.

DJ Newswires relates Oi said it will tender six contracts, for
equipment and network maintenance in three different regions.

"Oi believes the new model will benefit the whole chain," the
company said in a statement obtained by DJ Newswires.

                         About Tele Norte

Headquartered in Rio de Janeiro, Brazil, Tele Norte Leste
Participacoes S.A. (aka Oi)-- http://www.telemar.com.br-- is a
provider of fixed-line telecommunications services in South
America.  The company markets its services under its Telemar brand
name.  Tele Norte's subsidiaries include Telemar Norte Leste SA;
TNL PCS SA; Telemar Internet Ltda.; and Companhia AIX
Participacoes SA.

                          *     *     *

The company continues to carry Standard and Poors's “BB+” long-
term issuer credit rating.



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

AERCAP LEASING: Members to Hear Wind-Up Report on April 29
----------------------------------------------------------
The members of Aercap Leasing 8 Limited will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 29, 2009.

The company's liquidator is:

          Maria Van Der Linden-Van Gent
          c/o Maples and Calder, Attorneys-at-law
          PO Box 309, Ugland House
          Grand Cayman KY1-1104, Cayman Islands


BIG INVESTMENTS: Members' Meeting Set for April 28
--------------------------------------------------
The members of Big Investments Ltd. will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 28, 2009.

The company's liquidator is:

          Robert Bigelow III
          c/o Blue River Asset Management, LLC
          7 North Willow Street, Suite 8A
          Montclair, NJ 07042, USA


BLF WAREHOUSE: Members to Hear Wind-Up Report on April 30
---------------------------------------------------------
The members of BLF Warehouse I, Ltd. will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 30, 2009.

The company's liquidators are:

          Phillip Hinds
          Jan Neveril
          Maples Finance Limited, P.O. Box 1093GT
          Grand Cayman, Cayman Islands


CLIFFWOOD ABSOLUTE: Members to Hear Wind-Up Report on April 21
--------------------------------------------------------------
The members of Cliffwood Absolute Return Strategy Limited will
hear the liquidator's report on the company's wind-up proceedings
and property disposal on April 21, 2009.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106, Grand Cayman KY1-1205


COMMANDO (CAYMAN): Members' Meeting Set for May 1
-------------------------------------------------
The members of Commando (Cayman) Limited will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 1, 2009.

The company's liquidator is:

          Baird Limited
          P.O. Box N7768, Bank Lane, Nassau, Bahamas


CONTEXT PYTHON: Shareholders' Meeting Set for May 1
---------------------------------------------------
The shareholders of Context Python Offshore Ltd. will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 1, 2009, at 11:00 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


CYRUS REINSURANCE: Members to Hear Wind-Up Report on May 15
-----------------------------------------------------------
The members of Cyrus Reinsurance Holdings SPC will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 15, 2009, at 3:00 p.m.

The company's liquidator is:

          John C. Mckenna, CA
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands
          Telephone: (441) 292-5526
          e-mail: john.mckenna@frsl.bm


FIZZBIZZ LIMITED: Members' Meeting Set for April 30
---------------------------------------------------
The members of Fizzbizz Limited will hear the liquidator's report
on the company's wind-up proceedings and property disposal on
April 30, 2009, at 11:00 a.m.

The company's liquidator is:

          Ogier Employee Benefit Services Limited
          Whiteley Chambers, Don Street
          St Helier, Jersey, JE4 9WG


FRONTIER V: Shareholders' Meeting Set for May 1
-----------------------------------------------
The shareholders of Frontier V Limited will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on May 1, 2009, at 9:15 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


GREAT OAK: Shareholders' Meeting Set for May 1
----------------------------------------------
The shareholders of Great Oak Investment Limited will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 1, 2009, at 10:15 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


NEPTUNE CDO: Shareholders' Meeting Set for May 1
------------------------------------------------
The shareholders of Neptune CSO IV, Ltd. will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 1, 2009, at 10:30 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


NNE ILIT: Members to Hear Wind-Up Report on April 30
----------------------------------------------------
The members of NNE Ilit Cayman, Ltd. will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 30, 2009.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106, Grand Cayman KY1-1205


NS INVESTMENTS: Shareholders' Meeting Set for May 1
---------------------------------------------------
The shareholders of NS Investments VIII, Inc. will hear the
liquidator's report on the company's wind-up proceedings and
property disposal on May 1, 2009, at 9:30 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


OIL ENTERPRISES: Members to Hear Wind-Up Report on April 30
---------------------------------------------------------
The members of Oil Enterprises Ltd. will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 30, 2009.

The company's liquidator is:

          Prashant Veturkar
          Maples Finance Limited, P.O. Box 1093GT
          Grand Cayman, Cayman Islands


PENGANA CAPITAL: Shareholders' Meeting Set for May 1
----------------------------------------------------
The shareholders of Pengana Capital Real Estate International
Limited will hear the liquidator's report on the company's wind-up
proceedings and property disposal on May 1, 2009, at 10:45 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


RUMNA LIMITED: Members to Hear Wind-Up Report on May 1
------------------------------------------------------
The members of Rumna Limited will hear the liquidator's report on
the company's wind-up proceedings and property disposal on
May 1, 2009, at 10:00 a.m.

The company's liquidator is:

          Ian Stokoe
          c/o Jodi Jones
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 914 8694
          Facsimile: (345) 945 4237


SANWA CAPITAL: Shareholders' Meeting Set for May 1
--------------------------------------------------
The shareholders of Sanwa Capital Genesis TMK Holding Inc. will
hear the liquidator's report on the company's wind-up proceedings
and property disposal on May 1, 2009, at 9:45 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


SMITH BREEDEN: Shareholders' Meeting Set for May 1
--------------------------------------------------
The shareholders of Smith Breeden Enhanced Cash High Alpha Ltd.
will hear the liquidator's report on the company's wind-up
proceedings and property disposal on May 1, 2009, at 10:00 a.m.

The company's liquidator is:

          Walkers SPV Limited
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands


SPROUT II: Members to Hear Wind-Up Report on April 30
-----------------------------------------------------
The members of Sprout II 2003 Limited will hear the liquidator's
report on the company's wind-up proceedings and property disposal
on April 30, 2009.

The company's liquidator is:

          Jan Neveril
          Maples Finance Limited, P.O. Box 1093GT
          Grand Cayman, Cayman Islands


SPW FUNDING: Members to Hear Wind-Up Report on April 30
-------------------------------------------------------
The members of SPW Funding, Ltd. will hear the liquidator's report
on the company's wind-up proceedings and property disposal on
April 30, 2009.

The company's liquidator is:

          Prashant Veturkar
          Maples Finance Limited, P.O. Box 1093GT
          Grand Cayman, Cayman Islands



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

* COLOMBIA: Economy Faces “Difficult” 2009, Prof. Roubini Says
--------------------------------------------------------------
Colombia has been among the nations hardest hit in Latin America
this year and its prospects may not improve as exports fall,
Bloomberg News reports, citing Nouriel Roubini, the New York
University professor who predicted the financial crisis.

“It’s going to be a difficult year,” Mr. Roubini told Bloomberg
News in an interview.  “Colombia has been hit by the financial and
economic crisis more than people expected.”

According to the report, Mr. Roubini said Colombia “looked in
reasonably good shape” coming into the crisis.  Bloomberg News
recalls Colombia's growth slumped to 2.5% in 2008, hurt by a 22%
plunge in exports, from 7.5% in 2007.

The report notes Mr. Roubini said Colombia has been hurt by “trade
shocks, the fall of exports to the region and outside and massive
reductions from remittances from workers in Spain, who lost their
jobs in construction.”

Bloomberg News says economic growth slowed last year after central
bank policy makers raised interest rates in a bid to stem
inflation.  With borrowing costs at a seven-year high, the global
financial crisis spread to Colombia, stifling exports and
prompting consumers to scale back purchases, the report relates.

                          *     *     *

As reported by the Troubled Company Reporter-Latin America on
January 9, 2009, Fitch Ratings assigned a long-term foreign
currency Issuer Default Rating of 'BB+' to the Republic of
Colombia 10-year US$1 billion Eurobond (7.375% coupon).



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

CAP CANA: Extends Consent Payment Deadline for 2013 Senior Notes
----------------------------------------------------------------
Cap Cana S.A. has extended the Consent Payment Deadline for its
previously disclosed exchange offer and consent solicitation for
any and all of its outstanding 9.625% Senior Secured Notes due
2013, The Dominican Today reports citing a company press release.

According to the report, the press release said holders that wish
to receive consent payment must validly tender and not validly
withdraw their existing notes on or prior to 5:00 p.m., New York
City time, on April 20, 2009, unless further extended.

The exchange offer and consent solicitation will expire at 11:59
p.m., New York City time, on April 27, 2009, unless extended.

In a March 31 statement, Cap Cana said it commenced an offer to
exchange any and all of its outstanding 9.625% Senior Secured
Notes due 2013 for up to US$137,032,000 aggregate principal amount
of its 10% Senior Secured Notes due 2016 and up to US$133,750,000
aggregate principal amount of its 10% Senior Secured Recovery
Notes due 2016.

Cap Cana said it is offering to pay holders of Existing Notes a
consent payment of US$5.00 per US$1,000 principal amount of
existing notes.

The company has retained Weston International Capital Markets LLC
to act as the dealer manager for the exchange offer and the
consent solicitation.

                          About Cap Cana

Cap Cana S.A. is owner and developer of a resort complex (Cap
Cana) on the Dominican easter tip.  The resort copmplex is being
developed as a multiuse luxury resort in the Caribbean with world-
class beaches, championship golf courses, yachting facilities and
other leisure amenities.  The property consists of over 46 square
miles (119.9 square kilometers) of land, including a five-mile
(eight kilometer) coastline and 2.2 miles (3.5 kilometers) of one
of the most pristine beaches in the region.  As of September 30,
2008, Cap Cana S.A. had invested approximately US$485 million in
infrastructure and other improvements.

                          *     *     *

As reported by the Troubled Company Reporter - Latin America on
Nov. 4, 2008, Fitch Ratings downgraded the rating on Cap Cana,
S.A.'s US$250 million senior secured notes from 'B' to 'CCC/RR4'.
The rating was also placed on Rating Watch Negative.


* DOMINICAN REP: Free Trade Zone & Tobacco Firms Cut 5,000 Jobs
---------------------------------------------------------------
Companies in the free trade zones and tobacco firms in Dominican
Republic’s Santiago province laid off 5,000 workers, The Dominican
Today reports, citing the United Unions Federation.

According to the report, the federation, which is made up of 38
unions in the northern Dominican Republic, said 1,000 employees of
textile company FM Industries were laid off on April 7.  The
report relates Santiago Free Zone Industries Association executive
director Josefina Hernandez confirmed the job cuts.

Meanwhile, a plant that made cigars for export to the United
States and Europe dismissed 2,000 workers, The Dominican Today
says.

The report adds 600 workers were also let go by a footwear
company, which closed after 50 years in business.



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

PETROECUADOR: Seeks Oil Field Bids for the Third Time
-----------------------------------------------------
State-owned Petroecuador called for bids to develop three marginal
oil fields –- Chanangue, Eno-Ron and Ocano-Pena-Blanca -- in the
Amazonas region, Mercedes Alvaro of Dow Jones Newswires reports.
The report relates the proposals will be received until June 2.

According to the report, Petroecuador hopes to receive investments
of about US$30 million for these fields.

The fields, DJ Newswires notes, have reserves of around 18.3
million barrels, while crude at the fields ranges between 21.5 and
26 API grades.

DJ Newswires recalls this is the third time that Petroecuador
called for bids for the fields.

Headquartered in Quito, Ecuador, Petroecuador --
http://www.petroecuador.com.ec-- is an international oil
company owned by the Ecuador government.  It produces crude
petroleum and natural gas.

                          *     *     *

In previous years, Petroecuador, according to published reports,
was faced with cash-problems.  The state-oil firm has no funds
for maintenance, has no funds to repair pumps in diesel,
gasoline and natural gas refineries, and has no capacity to pay
suppliers and vendors.  The government refused to give the much-
needed cash alleging inefficiency and non-transparency in
Petroecuador's dealings.  In 2008, a new management team was
appointed to turn around the company's operations.



===========
G U Y A N A
===========

CL FINANCIAL: Sales Agents Maybe Required to Repay Commissions
--------------------------------------------------------------
CLICO Life and General Insurance Company South America Limited
(CLICO Guyana)'s sales agents, after being removed from their
jobs, may still have to repay some of their commission received in
recent months, Caribbean Net News reports.

The report relates Judicial Manager of CLICO Guyana Maria van-
Beek, explaining the claw-back clause written into the policies
the agents sell, said: “if the policies are surrendered, the
commission paid to the agent must be returned on a pro rata
basis.”

According to Caribbean Net News, Ms. Van-Beek confirmed that the
agents are subject to the claw-back process.  “We’re trying to
calculate the net positions of the agents.  If we pay them and
they owe us, then it would be hard for us to collect that money,”
the news agency quoted Ms. Van-Beek as saying.

The report relates Ms. Van-Beek explained that there were a lot of
policies surrendered, but she suspects that the company has
started paying the net amounts owed to some of the agents.  “We
have had some trouble with some agents and this caused delays in
our work,” Ms. van Beek said, Caribbean Net News notes.

Caribbean Net News recalls Guyana President Bharrat Jagdeo said
small policyholders of Clico Guynana will be paid even if it means
taking the funds from the treasury.  The report relates Mr. Jagdeo
explained that government may phase an allocation of US$34 million
over a ten year period to be borne by the Treasury if the monies
invested into CLICO Bahamas are not recovered.

                       About CL Financial

According to Wikipedia, CL Financial Limited is the largest
privately held conglomerate in Trinidad and Tobago and one of the
largest privately held corporations in the entire Caribbean.
Founded as an insurance company, Colonial Life Insurance Company
(CLICO) by Cyril Duprey, it was expanded into a diversified
company by his nephew, Lawrence Duprey.  CL Financial is now one
of the largest local conglomerates in the region, encompassing
over 65 companies in 32 countries worldwide with total assets
standing at roughly US$100 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Central Bank
Governor Ewart Williams disclosed that an examination of insurance
company CLICO, dissolved finance house CLICO Investment Bank and
other CL Financial companies, showed a deficit between $6 billion
and $8 billion.

Tobago President George Maxwell Richards, The Express related,
signed bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.

According to the Trinidad and Tobago Newsday, the government used
$1 billion of taxpayers money to help protect depositors and
policyholders.

T&T Newsday related Governor Williams pleaded with policy holders
not to withdraw money from Clico, amid the unit's increasing
$10 billion debt.


CL FIN'L: Clico Guyana Judicial Manager to Present Findings Today
-----------------------------------------------------------------
CLICO Life and General Insurance Company South America Limited
(CLICO Guyana) Judicial Manager Maria van Beek will present to the
courts today, April 14, Clico Guyana's position and her
recommendations for the company's future, Imdaad Sattaur of
Caribbean Net News reports.

In a March 12 press briefing, the report recalls Ms. van Beek said
the results of the statutory 2008 audit being conducted by the
company’s regular external auditors Deloitte and Touche; a special
audit by Nizam Ali & Company; and an actuarial review by
Prescience Insurance Consultants & Actuaries of Toronto, Canada;
will be the main component of her presentation and upon which she
will base her recommendations for the company.

The report recalls on April 7, Justice Cheryl Albury in the
Bahamas confirmed the order of liquidation of CLICO Bahamas
Limited, after being satisfied that the Registrar of Insurance,
Lennox McCartney, proved that the company was unable to pay its
debts, and that the value of its liabilities was greater than its
assets.  Caribbean Net News relates Judge Albury determined that
the company was indeed insolvent.

                CLICO Bahamas' Liabilities Exceed
                     Assets by US$18Million

As reported in the Troubled Company Reporter-Latin America on
April 1, 2009, Trinidad and Tobago Express said the liabilities of
CLICO Bahamas Limited, a unit of CL Financial Limited, exceed its
assets by US$18 million.  Trinidad and Tobago Express related
provisional liquidator Craig Tony Gomez's report listed CLICO
Bahamas's total assets at US$116,965,096 and total liabilities at
US$135,085,964.

In the report, Trinidad and Tobago Express said Mr. Gomez also
noted that the company had a "considerable amount of critical
claims", which were being reviewed, including death benefits,
emergency surgeries, cancer patient treatments and HIV patient
treatments.

In addition, Trinidad and Tobago Express noted Mr. Gomez said
CLICO Bahamas can't recover the US$73 million it loaned to CLICO
Enterprises Ltd as part of a Florida real estate deal because of
the downturn in the US real estate market.

Also, Trinidad and Tobago Express said CLICO Guyana and CLICO
Suriname are claiming policy packages of US$34 million and US$15.5
million respectively with CLICO Bahamas.

               Guyana Supplies CLICO Documentation
                        to Bahamas, PM Says

Caribbean Net says there has been significant controversy
surrounding the investment of US$33.7 Million made by CLICO Guyana
in CLICO Bahamas.

In a March 30 TCR-LA report, Caribbean Net News said President of
Guyana Bharrat Jagdeo supplied Bahamas documentations claiming
that a substantial portion of CLICO Guyana's assets were tied up
in the operations of CLICO Bahamas.

Caribbean Net News recalled Bahamas Prime Minister Hubert Ingraham
told Mr. Jagdeo that there seems to be no record that the Guyana
government has invested 53% of CLICO Guyana assets in Clico
Bahamas.

Mr. Ingraham, Caribbean Net News noted, did acknowledge that
Guyana's claim does, however, this represent a very serious
potential impairment for the Guyana operations given that it has
place its operation into judicial management.

Trinidad and Tobago Newsday said the Guyana government has placed
CLICO Guyana's operations under judicial management prior to
winding up of the company.  The government's move, the report
related, follows the liquidation of Clico (Bahamas), which has a
51% stake in CLICO Guyana.

Mr. Gomez, as cited by Caribbean Net News, confirmed in his
preliminary report to the courts that Guyana did indeed invest in
CLICO Bahamas, however, he sought to classify Guyana’s investment
as an unsecured related-party advance instead of a policy
instrument.  Such a classification would reduce Guyana’s rights to
the proceeds from the liquidation, having to wait until all
policies and secured creditors are satisfied before receiving
payment, the same report notes.

“If it is classified as an inter-company loan then in the
settlement of the liabilities, it will go down the hierarchy.  So
first of all, from disposal of assets, they will settle policies
and then whatever remains; they’ll settle these other
transactions.  So now we are taking steps to fight that
classification, to argue no, we had a policy there,” Caribbean Net
News quoted President Jagdeo as saying.

               Commissioner Takes Steps to Protect
                      Guyanese Policyholders

Caribbean Net News says Ms. van Beek has taken additional steps to
protect Guyanese policyholders by reducing the staffing levels of
CLICO Guyana as, under judicial management, the company was not
permitted to issue new policies or renew existing ones.

In addition, the report notes Ms. van Beek has obtained
injunctions against local subsidiaries of the CL Financial Group,
restricting them from remitting funds to their parent company in
Trinidad.

A TCRLA report on April 2, citing Caribbean Net News, related Ms.
van Beek secured a restraining order from Chief Justice Ian Chang
against First Citizens Bank Limited (fka Caribbean Investment
Bank), a subsidiary of CL Financial Limited, from collecting US$15
million from Bosai Minerals Group.

Caribbean Net News recalled Bosai Minerals secured a US$18 million
loan from Caribbean Investment Bank to conduct its investment in
Guyana.  The same report related the bank, over time, received
US$3 million payments from Bosai.

According to Caribbean Net News, the Judicial Manager, having
secured control of the assets of CLICO (Guyana) and recognizing
that Bosai Minerals was linked to Caribbean Investment Bank,
decided to seek to freeze any payments to be made out of Guyana.
Caribbean Net News notes CL Financial owed the country through
investments made to CLICO (Bahamas, by CLICO (Guyana).  The same
report recalled following CLICO (Bahamas)'s collapse, Guyana was
forced to retain lawyers to help recover its money which
represented some 53% of CLICO (Guyana)'s assets.

Caribbean Net News said the payment freeze is aimed to recover
almost half of the money invested in CLICO (Bahamas).

                        About CL Financial

According to Wikipedia, CL Financial Limited is the largest
privately held conglomerate in Trinidad and Tobago and one of the
largest privately held corporations in the entire Caribbean.
Founded as an insurance company, Colonial Life Insurance Company
(CLICO) by Cyril Duprey, it was expanded into a diversified
company by his nephew, Lawrence Duprey.  CL Financial is now one
of the largest local conglomerates in the region, encompassing
over 65 companies in 32 countries worldwide with total assets
standing at roughly US$100 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Central Bank
Governor Ewart Williams disclosed that an examination of insurance
company CLICO, dissolved finance house CLICO Investment Bank and
other CL Financial companies, showed a deficit between $6 billion
and $8 billion.

Tobago President George Maxwell Richards, The Express related,
signed bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.

According to the Trinidad and Tobago Newsday, the government used
$1 billion of taxpayers money to help protect depositors and
policyholders.

T&T Newsday related Governor Williams pleaded with policy holders
not to withdraw money from Clico, amid the unit's increasing
$10 billion debt.



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

AIR JAMAICA: To Offer Additional Flights Between Orlando & Jamaica
------------------------------------------------------------------
Air Jamaica Limited will offer seven weekly flights between
Orlando and Jamaica effective June 29, 2009, South Florida
Caribbean News reports.  The report relates the addition of two
new flights will give passengers direct service to Kingston after
a stop in Montego Bay.

“Our new flights will arrive in Jamaica in the morning, allowing
even more time to enjoy the destination,” the report quoted Chief
Revenue Officer Tom Hill as saying.  “We are anticipating a busy
summer season, and with seven weekly flights, our passengers will
find it more convenient to arrange that perfect vacation in
Jamaica.”

                        About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.

The Jamaican government owned 25% of the company after it went
private in 1994.  However, in late 2004, the government assumed
full ownership of the airline after an investor group turned over
its 75% stake.  The Jamaican government does not plan to own Air
Jamaica permanently.

                          *     *     *

As reported by the Troubled Company Reporter-Latin America on
Nov. 6, 2008, Moody's Investors Service placed the debt ratings of
Air Jamaica Limited, B1 senior unsecured notes guaranteed by the
Government of Jamaica, on review for possible downgrade.  The
review coincides with Moody's action placing the ratings of the
Government of Jamaica under review for downgrade on November 4,
2008.



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

ROKAYOZA INC: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Rokayoza Inc
       P.O. Box 2063
       San Sebastian, PR 00685

Bankruptcy Case No.: 09-02210

Chapter 11 Petition Date: March 25, 2009

Court: United States Bankruptcy Court
      District of Puerto Rico (Old San Juan)

Judge: Enrique S. Lamoutte Inclan

Debtor's Counsel: Salvador Tio Fernandez, Esq.
                 Calle Acosta 97 Altos
                 Caguas, PR 00726
                 Tel: (787) 390-7880
                 Fax: (787) 746-3895
                 Email: salvadorelias@yahoo.com

Total Assets: US$5,797,261

Total Debts: US$5,012,775

A full-text copy of the Debtor's petition, including its largest
unsecured creditors, is available for free at:

           http://bankrupt.com/misc/azb09-00557.pdf

The petition was signed by Wilson Irizarry Santiago, president of
the Company.



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

CL FINANCIAL: Government May Face Problems in Bailing Out Firm
--------------------------------------------------------------
Trinidad and Tobago Central Bank Governor Ewart Williams said
the government may face problems in trying to recover the money
being advanced in the bail out of CL Financial Limited, Oscar
Ramjeet of Caribbean Net News reports.  The report relates Mr.
Williams said that company's $100 billion assets are otherwise
committed.

According to the report, Mr. Williams said most of CLICO's assets
are pledged in one way or another.

Mr. Williams, the report notes, pointed out that, because of a
slump in real estate and methanol prices, the government would not
be able to sell the conglomerate's vast real estate holdings at
present to recover the funds provided to CL Financial to relieve a
liquidity problem.

"The rationale is based on the fact that CLICO is supposed to be
asset rich... so, therefore, whilst the government will put up the
money up front, it would, over time, sell their assets in order to
repay the Government," the report quoted Mr. Williams as saying.

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Mr. Williams
disclosed that an examination of insurance company CLICO,
dissolved finance house CLICO Investment Bank and other CL
Financial companies, showed a deficit between $6 billion and $8
billion.

Tobago President George Maxwell Richards, according to The
Express, signed bailout bills for CL Financial, giving the
government the authority to control the company's unit, Colonial
Life Insurance Company, and giving the central bank extensive
powers to treat with CL Financial's collapse and the consequent
systemic crisis.

                       About CL Financial

According to Wikipedia, CL Financial Limited is the largest
privately held conglomerate in Trinidad and Tobago and one of the
largest privately held corporations in the entire Caribbean.
Founded as an insurance company, Colonial Life Insurance Company
(CLICO) by Cyril Duprey, it was expanded into a diversified
company by his nephew, Lawrence Duprey.  CL Financial is now one
of the largest local conglomerates in the region, encompassing
over 65 companies in 32 countries worldwide with total assets
standing at roughly US$100 billion.


WELDFAB LIMITED: Sends 76 Employees Home
----------------------------------------
Weldfab Limited's 76 workers were denied access to the company's
compound on April 9, Trinidad and Tobago Newsday reports.  The
report relates a company memo was released stating that only 24
workers were to report for duty.

According to the report, there are 120 workers in total and the
remainder of the workers were told to stay at home until further
notice due to the “unavailability of materials and drawings.”

Newsday says the workers claimed their colleagues were laid-off
without warning or the proper documentation.

“This is an occurring thing on a project.  The people on the
Petrotrin and Point Lisas projects were sent home.  They received
no severance packages and no respect,” Newsday quoted President of
the Workers committee Jason Lewis as saying.

Newsday relates Neil Sookdeo, another member of the worker’s
committee, said they believed that the move was because of their
affiliation with the Oilfield Workers Union.

The report notes Foster Harrington, Labour Relations Officer with
the OWTU, said that the union was classifying the company’s
decision as a dismissal.  “You cannot have workers working for an
extended period of time and then tell them the day before that
they have to stay home until further notice.  That is dismissal
and it is a major cause of concern for us,” Newsday quoted Mr.
Harrington as saying.

Headquartered in Claxton Bay, Weldfab Limited is a welding and
fabricating company.



==========================
V I R G I N  I S L A N D S
==========================

BERNARD L. MADOFF: Trustee Seeks US$150Mln from Gibraltar Bank
--------------------------------------------------------------
The trustee appointed to liquidate Bernard L. Madoff Investment
Securities LLC is seeking US$150 million transferred from the firm
to Banque Jacob Safra (Gibraltar) Ltd., the first such action
aimed at recovering assets withdrawn by a Madoff client.

Bloomberg News' Christopher Scinta and David Glovin report that
appointed under the Securities Investor Protection Act Irving
Picard, filed the lawsuit April 9 in U.S. Bankruptcy Court in New
York. The October transfer was for the benefit of British Virgin
Islands-based Vizcaya Partners Ltd., also named as a defendant.

"The Trustee seeks to set aside such transfer and preserve the
property for the benefit of BLMIS's defrauded customers,"
according to the complaint filed by Mr. Picard's lawyers at Baker
& Hostetler LLP.

Bloomberg points out that Mr. Picard is responsible for conducting
a broad investigation of Madoff's assets and actions.  According
to court papers, he intends to "pursue recovery from customers who
received preferences and/or payouts of fictitious profits to the
detriment of other defrauded customers whose money was consumed by
the Ponzi scheme". Mr. Picard has said he already recovered about
$1 billion to repay Madoff clients.

The report relates that, according to the complaint, the Vizcaya
account was opened on Dec. 21, 2001, by its custodian, Banque
Safra-France SA, and Vizcaya invested US$327.2 million with Madoff
through 26 wire transfers to an account at JPMorgan Chase & Co. in
New York beginning in January 2002.

                  About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC was a market maker in
U.S. stocks, including all of the S&P 500 and more than 350 Nasdaq
stocks.  The firm moved large blocks of stock for institutional
clients by splitting up orders or arranging off-exchange
transactions between parties.  It also performed clearing and
settlement services.  Clients included brokerages, banks, and
other financial institutions.  In addition, Madoff Securities
managed assets for high-net-worth individuals, hedge funds, and
other institutional investors.

The firm is being liquidated in the aftermath of a fraud scandal
involving founder Bernard L. Madoff.

As reported by the Troubled Company Reporter on Dec. 15, 2008, the
Securities and Exchange Commission charged Mr. Madoff and his
investment firm with securities fraud for a multi-billion dollar
Ponzi scheme that he perpetrated on advisory clients of his firm.
The estimated losses from Madoff's fraud were allegedly at least
50 billion.

Also on Dec. 15, 2008, the Honorable Louis A. Stanton of the U.S.
istrict Court for the Southern District of New York granted the
application of the Securities Investor Protection Corporation for
a decree adjudicating that the customers of BLMIS are in need of
the protection afforded by the Securities Investor Protection Act
of 1970.  Irving H. Picard, Esq., was appointed as trustee for the
liquidation of BLMIS, and Baker & Hostetler LLP was appointed as
counsel.

Mr. Madoff, if found guilty of all counts, would be imprisoned for
150 years, but legal experts expect the actual sentence to be much
lower and would still be an effective life sentence for the 70-
year-old defendant, WSJ notes.  Mr. Madoff, WSJ relates, would
also face millions of dollars in possible criminal fines.  The
report says that Mr. Madoff has been free on bail since his arrest
on December 11, 2008.  There was no plea agreement with Mr. Madoff
in which leniency in sentencing might be recommended, the report
states, citing prosecutors.



===============
X X X X X X X X
===============

* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                        Total       Shareholders
                                        Assets          Equity
Company              Ticker            (US$MM)         (US$MM)
-------              ------           ------------     -------

ARGENTINA

COMERCIAL PL-ADR     SCPDS LI          531491040    -882216960
SNIAFA SA-B          SDAGF US           39681268      -2901931
IMPSAT FIBER-$US     IMPTD AR          535007008     -17165000
COMERCIAL PLA-BL     COMEB AR          531491040    -882216960
IMPSAT FIBER-CED      IMPT AR          535007008     -17165000
SOC COMERCIAL PL     SCDPF US          531491040    -882216960
SOC COMERCIAL PL      CADN SW          531491040    -882216960
SNIAFA SA-B          SNIA5 AR           39681268      -2901931
SOC COMERCIAL PL      COME AR          531491040    -882216960
IMPSAT FIBER-BLK     IMPTB AR          535007008     -17165000
SOC COMERCIAL PL       CAD IX          531491040    -882216960
IMPSAT FIBER NET     IMPTQ US          535007008     -17165000
SOC COMERCIAL PL     CVVIF US          531491040    -882216960
SNIAFA SA             SNIA AR           39681268      -2901931
IMPSAT FIBER NET     XIMPT SM          535007008     -17165000
COMERCIAL PL-C/E     COMEC AR          531491040    -882216960
COMERCIAL PLAT-$     COMED AR          531491040    -882216960
IMPSAT FIBER NET   330902Q GR          535007008     -17165000


BRAZIL

FER C ATLANT-PRF     VSPT4 BZ         2083969920     -71092000
STAROUP SA          STARON BZ           66833000      -3164000
PARQUE TEM-RT PF     PQTM2 BZ          152268000    -388872000
SANSUY SA           SNSYON BZ          232096000    -106033000
PARQUE TEM-RT CM     PQTM1 BZ          152268000    -388872000
NOVA AMERICA-PRF    NOVAPN BZ           40955000    -353104000
SANSUY SA-PREF A    SNSYAN BZ          232096000    -106033000
TEXTEIS RENAU-RT     TXRX2 BZ           86140000    -135343008
PARQUE TEM-DV CM      PQT5 BZ          152268000    -388872000
RIMET-PREF          REEMPN BZ          144454000    -232197008
RIMET               REEMON BZ          144454000    -232197008
RIMET-PREF           REEM4 BZ          144454000    -232197008
KUALA-PREF           ARTE4 BZ           11856000     -33570000
PET MANG-RECEIPT    RPMG10 BZ          183988992     -66954004
PET MANG-RIGHTS      RPMG1 BZ          183988992     -66954004
TEXTEIS RENAUX      RENXPN BZ           86140000    -135343008
HOPI HARI-PREF       PQTM4 BZ          152268000    -388872000
PROMAN               PRMN3 BZ           24221000       -555000
PARQUE TEM-RCT C     PQTM9 BZ          152268000    -388872000
SAUIPE               PSEG3 BZ           17641202     -16319050
TECTOY               TOYB3 BZ           41457000     -10455000
SAUIPE SA-PREF      PSEGPN BZ           17641202     -16319050
SAUIPE SA           PSEGON BZ           17641202     -16319050
CAF BRASILIA         CAFE3 BZ           38244000   -1042639040
DOCAS IMBITUB-PR    IMBIPN BZ          205018992     -25437000
WETZEL SA            MWET3 BZ          145738992      -8419000
FER C ATL-RCT PF    VSPT10 BZ         2083969920     -71092000
DOCAS IMBITUBA      IMBION BZ          205018992     -25437000
CONST A LINDEN      LINDON BZ           51808000     -13659000
CONST A LIND-PRF    LINDPN BZ           51808000     -13659000
HERCULES             HETA3 BZ           25126000    -273456000
TEKA-PREF            TEKA4 BZ          526557984    -449536992
PET MANG-RIGHTS      RPMG2 BZ          183988992     -66954004
FERRAGENS HAGA-P    HAGAPN BZ           24512548    -113844104
HERCULES SA         HERTON BZ           25126000    -273456000
FER HAGA-PREF        HAGA4 BZ           24512548    -113844104
NOVA AMERICA-PRF     NOVA4 BZ           40955000    -353104000
DOC IMBITUBA-RTC     IMBI1 BZ          205018992     -25437000
DOC IMBITUBA-RTP     IMBI2 BZ          205018992     -25437000
HERCULES SA-PREF    HERTPN BZ           25126000    -273456000
MMX MINERACA-GDR      3M11 GR         2328652032    -101079000
WETZEL SA-PREF      MWELPN BZ          145738992      -8419000
TECEL S JOSE         SJOS3 BZ           42233000     -41080000
NORDON MET           NORD3 BZ           36317000     -33521000
AZEVEDO-PREF         AZEV4 BZ          116398000     -10976000
WETZEL SA-PREF       MWET4 BZ          145738992      -8419000
TECEL S JOSE-PRF     SJOS4 BZ           42233000     -41080000
MINUPAR              MNPR3 BZ          179201008     -34191000
NORDON METAL        NORDON BZ           36317000     -33521000
NOVA AMERICA SA      NOVA3 BZ           40955000    -353104000
PETRO MANGUINHOS    MANGON BZ          183988992     -66954004
MMX MINERACAO        MMXM3 BZ         2328652032    -101079000
MMX MINERACA-GDR     MMXMY US         2328652032    -101079000
FABRICA RENAUX-P    FRNXPN BZ          125797000     -64182000
FERRAGENS HAGA      HAGAON BZ           24512548    -113844104
FERREIRA GUIM-PR    FGUIPN BZ           24631000    -224564000
TEKA                TEKAON BZ          526557984    -449536992
NOVA AMERICA SA     NOVAON BZ           40955000    -353104000
MINUPAR-PREF         MNPR4 BZ          179201008     -34191000
GAZOLA SA-DVD PF    GAZO12 BZ           27266214     -73665296
TEXTEIS RENA-RCT    TXRX10 BZ           86140000    -135343008
DTCOM- DIRECT-PR     DTCY4 BZ           11902000     -16264999
MMX MINERACAO        TRES3 BZ         2328652032    -101079000
NOVA AMERICA SA     1NOVON BZ           40955000    -353104000
TEXTEIS RENA-RCT     TXRX9 BZ           86140000    -135343008
CHIARELLI SA-PRF     CCHI4 BZ           42853000     -85685000
TEXTIL RENAUXVIE     TXRX3 BZ           86140000    -135343008
TEC TOY SA-PF B      TOYB6 BZ           41457000     -10455000
TEC TOY SA-PREF      TOYB5 BZ           41457000     -10455000
SANSUY SA-PREF B    SNSYBN BZ          232096000    -106033000
RIMET                REEM3 BZ          144454000    -232197008
TEC TOY SA-PREF      TOYDF US           41457000     -10455000
TECTOY SA-PREF      TOYBPN BZ           41457000     -10455000
CTM CITRUS-RCT C     CTPC9 BZ           79728000      -1381000
TECTOY-RCT ORD       TOYB9 BZ           41457000     -10455000
WIEST                WISA3 BZ           71372000    -140973008
FER C ATL-RCT CM     VSPT9 BZ         2083969920     -71092000
PETRO MANGUINHOS     RPMG3 BZ          183988992     -66954004
FER C ATLANT         VSPT3 BZ         2083969920     -71092000
MMX MINERACA-GDR       XMM CN         2328652032    -101079000
WIEST SA-PREF       WISAPN BZ           71372000    -140973008
WIEST SA            WISAON BZ           71372000    -140973008
WIEST-PREF           WISA4 BZ           71372000    -140973008
VARIG PART EM TR     VPTA3 BZ          107416000    -867658048
ALL MALHA PAULIS     GASC3 BZ         1586146944   -1048602048
BOMBRIL              BOBR3 BZ          460744992    -485765024
VARIG SA-PREF        VAGV4 BZ         2094450944  -10176870400
FERROVIA CEN-DVD    VSPT12 BZ         2083969920     -71092000
FERROVIA CEN-DVD    VSPT11 BZ         2083969920     -71092000
DTC DIRECT CO SA    1DTCON BZ           11902000     -16264999
VARIG PART EM-PR     VPTA4 BZ          107416000    -867658048
SANSUY               SNSY3 BZ          232096000    -106033000
TEKA-PREF           TEKAPN BZ          526557984    -449536992
MMX MINERACAO        MMXCF US         2328652032    -101079000
NORDON MET-RTS       NORD1 BZ           36317000     -33521000
TECTOY-PREF          TOYB4 BZ           41457000     -10455000
DOC IMBITUBA         IMBI3 BZ          205018992     -25437000
SANSUY-PREF B        SNSY6 BZ          232096000    -106033000
CTM CITRUS SA        CTMON BZ           79728000      -1381000
MINUPAR SA          MNPRON BZ          179201008     -34191000
PET MANG-RECEIPT     RPMG9 BZ          183988992     -66954004
PET MANGUINH-PRF     RPMG4 BZ          183988992     -66954004
TEXTEIS RENAUX      RENXON BZ           86140000    -135343008
KUALA                ARTE3 BZ           11856000     -33570000
CIMOB PARTIC SA      GAFON BZ           90471752     -77366408
SCHLOSSER SA-PRF     SCHPN BZ           21962000    -118044000
SCHLOSSER SA         SCHON BZ           21962000    -118044000
BOMBRIL SA-ADR       BMBBY US          460744992    -485765024
TEKA-ADR             TKTQY US          526557984    -449536992
CAMBUCI SA          CAMBON BZ          177378992     -42495000
TEKA-ADR             TKTPY US          526557984    -449536992
TECTOY-BONUS RTS    TOYB13 BZ           41457000     -10455000
TECTOY-RCPT PF B    TOYB12 BZ           41457000     -10455000
DOC IMBITUB-PREF     IMBI4 BZ          205018992     -25437000
TECTOY-RCT PREF     TOYB10 BZ           41457000     -10455000
BOTUCATU TEXTIL      STRP3 BZ           66833000      -3164000
TEXTEIS RENAU-RT     TXRX1 BZ           86140000    -135343008
HOPI HARI SA         PQTM3 BZ          152268000    -388872000
PARQUE TEM-RCT P    PQTM10 BZ          152268000    -388872000
VARIG SA            VARGON BZ         2094450944  -10176870400
TEKA-ADR             TEKAY US          526557984    -449536992
WETZEL SA           MWELON BZ          145738992      -8419000
TEKA                 TEKA3 BZ          526557984    -449536992
TECTOY-RTS/3         TOYB1 BZ           41457000     -10455000
BUETTNER-PREF        BUET4 BZ          148186992     -54926000
BUETTNER SA-PRF     BUETPN BZ          148186992     -54926000
BUETTNER SA-RT P     BUET2 BZ          148186992     -54926000
BUETTNER             BUET3 BZ          148186992     -54926000
CONST A LINDEN       CALI3 BZ           51808000     -13659000
CONST A LIND-PRF     CALI4 BZ           51808000     -13659000
SAUIPE-PREF          PSEG4 BZ           17641202     -16319050
CAF BRASILIA-PRF     CAFE4 BZ           38244000   -1042639040
BOMBRIL-RGTS PRE     BOBR2 BZ          460744992    -485765024
TEKA-PREF            TKTPF US          526557984    -449536992
BOMBRIL SA-ADR       BMBPY US          460744992    -485765024
BOMBRIL-RIGHTS       BOBR1 BZ          460744992    -485765024
BOMBRIL CIRIO-PF    BOBRPN BZ          460744992    -485765024
DOCAS SA-RTS PRF     DOCA2 BZ          428661984     -53866000
BOMBRIL-PREF         BOBR4 BZ          460744992    -485765024
CAMBUCI SA-PREF      CXDOF US          177378992     -42495000
COARI PART           COAR3 BZ         3270861056        -56000
COARI PART-PREF      COAR4 BZ         3270861056        -56000
TEKA                 TKTQF US          526557984    -449536992
CHIARELLI SA-PRF     CCHPN BZ           42853000     -85685000
CORREA RIBEIRO      CORIPN BZ           10835000       -154000
CORREA RIBEIRO       CORR3 BZ           10835000       -154000
BAUMHARDT IRM-PR    BAUMPN BZ           20444000      -3589000
PETRO MANGUIN-PF    MANGPN BZ          183988992     -66954004
CHIARELLI SA         CCHON BZ           42853000     -85685000
CAMBUCI SA-PREF     CAMBPN BZ          177378992     -42495000
ARTHUR LANG-RC P    ARLA10 BZ           34053000     -26011000
CAMBUCI SA-PREF      CAMB4 BZ          177378992     -42495000
EXCELSIOR-RCT       BAUH10 BZ           20444000      -3589000
TEXTEIS RENAU-PF     TXRX4 BZ           86140000    -135343008
CTM CITRUS- PR R     CTPC2 BZ           79728000      -1381000
BOTUCATU-PREF        STRP4 BZ           66833000      -3164000
TECTOY-PF-RTS5/6    TOYB11 BZ           41457000     -10455000
ARTHUR LAN-DVD C    ARLA11 BZ           34053000     -26011000
ARTHUR LAN-DVD P    ARLA12 BZ           34053000     -26011000
EXCELSIOR-RCT        BAUH9 BZ           20444000      -3589000
GAZOLA SA            GAZON BZ           27266214     -73665296
ARTHUR LANGE-PRF     ARLA4 BZ           34053000     -26011000
ARTHUR LANG-RC C     ARLA9 BZ           34053000     -26011000
ARTHUR LANG-RT P     ARLA2 BZ           34053000     -26011000
FABRICA RENAUX       FTRX3 BZ          125797000     -64182000
GASCOIGNE EMP-PF    1GASPN BZ         1586146944   -1048602048
VARIG SA             VAGV3 BZ         2094450944  -10176870400
DTC DIRECT CO-RT   1DTCONR BZ           11902000     -16264999
GASCOIGNE EMPREE    1GASON BZ         1586146944   -1048602048
HERCULES-PREF        HETA4 BZ           25126000    -273456000
ARTHUR LANGE SA     ALICON BZ           34053000     -26011000
NOVA AMERICA-PRF    1NOVPN BZ           40955000    -353104000
TRESSEM PART SA     1TSSON BZ         2328652032    -101079000
EXCELSIOR-RT         BAUH2 BZ           20444000      -3589000
EXCELSIOR ALIMEN     BAUH3 BZ           20444000      -3589000
EXCELSIOR-RT         BAUH1 BZ           20444000      -3589000
CHIARELLI SA         CCHI3 BZ           42853000     -85685000
BAUMHARDT IRMAOS    BAUMON BZ           20444000      -3589000
BOMBRIL              BMBBF US          460744992    -485765024
EXCELSIOR-PREF       BAUH4 BZ           20444000      -3589000
ARTHUR LANGE-PRF    ALICPN BZ           34053000     -26011000
ARTEX SA            ARTXON BZ           11856000     -33570000
ARTEX SA-PREF       ARTXPN BZ           11856000     -33570000
DOCAS SA            DOCAON BZ          428661984     -53866000
HAGA                 HAGA3 BZ           24512548    -113844104
AZEVEDO E TRAVAS    AZEVON BZ          116398000     -10976000
AZEVEDO E TRA-PR    AZEVPN BZ          116398000     -10976000
AZEVEDO              AZEV3 BZ          116398000     -10976000
BUETTNER SA         BUETON BZ          148186992     -54926000
MARAMBAIA            CTPC3 BZ           79728000      -1381000
CTM CITRUS-ADR       CTMMY US           79728000      -1381000
FABRICA RENAUX      FRNXON BZ          125797000     -64182000
F GUIMARAES-PREF     FGUI4 BZ           24631000    -224564000
FERREIRA GUIMARA    FGUION BZ           24631000    -224564000
MARAMBAIA-PREF       CTPC4 BZ           79728000      -1381000
FABRICA RENAUX-P     FTRX4 BZ          125797000     -64182000
CORREA RIBEIRO      CORION BZ           10835000       -154000
FABRICA TECID-RT     FTRX1 BZ          125797000     -64182000
BOMBRIL CIRIO SA    BOBRON BZ          460744992    -485765024
ESTRELA SA           ESTR3 BZ          153186000     -80125000
MARAMBAIA-PREF       CTMMF US           79728000      -1381000
ACO ALTONA-PREF      EALT4 BZ          180308000     -22762000
TECEL S JOSE        FTSJON BZ           42233000     -41080000
F GUIMARAES          FGUI3 BZ           24631000    -224564000
ESTRELA SA-PREF      ESTR4 BZ          153186000     -80125000
ESTRELA SA          ESTRON BZ          153186000     -80125000
PARQUE TEM-DV PF      PQT6 BZ          152268000    -388872000
GAZOLA               GAZO3 BZ           27266214     -73665296
GAZOLA-RCPT PREF    GAZO10 BZ           27266214     -73665296
GAZOLA SA-DVD CM    GAZO11 BZ           27266214     -73665296
ARTHUR LANG-RT C     ARLA1 BZ           34053000     -26011000
GAZOLA SA-PREF       GAZPN BZ           27266214     -73665296
GAZOLA-PREF          GAZO4 BZ           27266214     -73665296
CTM CITRUS-RCT P      CTP6 BZ           79728000      -1381000
SCHLOSSER            SCLO3 BZ           21962000    -118044000
CIMOB PARTIC SA      GAFP3 BZ           90471752     -77366408
ESTRELA SA-PREF     ESTRPN BZ          153186000     -80125000
TECEL S JOSE-PRF    FTSJPN BZ           42233000     -41080000
VARIG SA-PREF       VARGPN BZ         2094450944  -10176870400
GASCOIGNE EMP-PF     GASC4 BZ         1586146944   -1048602048
CIMOB PART-PREF      GAFP4 BZ           90471752     -77366408
CORREA RIBEIR-PR     CORR4 BZ           10835000       -154000
CTM CITRUS-RCT P    CTPC10 BZ           79728000      -1381000
ACO ALTONA-PREF      EAAPN BZ          180308000     -22762000
GAZOLA-RCPTS CMN     GAZO9 BZ           27266214     -73665296
CTM CITRUS-COM R     CTPC1 BZ           79728000      -1381000
CAMBUCI SA           CAMB3 BZ          177378992     -42495000
D H B                DHBI3 BZ          221336000    -588646016
ARTHUR LANGE         ARLA3 BZ           34053000     -26011000
TECTOY SA           TOYBON BZ           41457000     -10455000
CENT AMAPA           CTAP3 BZ              15000     -11996000
ACO ALTONA           EALT3 BZ          180308000     -22762000
DOCA INVESTIMENT     DOCA3 BZ          428661984     -53866000
CAFE BRASILIA-PR    CSBRPN BZ           38244000   -1042639040
CTM CITRUS-PREF      CTMPN BZ           79728000      -1381000
CTM CITRUS-RCT C      CTP5 BZ           79728000      -1381000
MINUPAR SA-PREF     MNPRPN BZ          179201008     -34191000
SANSUY-PREF A        SNSY5 BZ          232096000    -106033000
DHB IND E COM-PR     DHBPN BZ          221336000    -588646016
DTCOM-RT             DTCY1 BZ           11902000     -16264999
DTCOM- DIR TO CO     DTCY3 BZ           11902000     -16264999
SCHLOSSER-PREF       SCLO4 BZ           21962000    -118044000
DOCAS SA-PREF       DOCAPN BZ          428661984     -53866000
ACO ALTONA SA        EAAON BZ          180308000     -22762000
CIMOB PART-PREF      GAFPN BZ           90471752     -77366408
STAROUP SA-PREF     STARPN BZ           66833000      -3164000
BUETTNER SA-RTS      BUET1 BZ          148186992     -54926000
DOCA INVESTI-PFD     DOCA4 BZ          428661984     -53866000
DHB IND E COM        DHBON BZ          221336000    -588646016
D H B-PREF           DHBI4 BZ          221336000    -588646016
N.A.                 DTCY9 BZ           11902000     -16264999
CAFE BRASILIA SA    CSBRON BZ           38244000   -1042639040


COLOMBIA

ENACAR              ENACAR CI         2869195008   -36472102912
ENACAR-RT          ENACARO CI         2869195008   -36472102912
CARVILE            CARVILE CI         1265678976   -34953248768
ENACAR               EMPOF US         2869195008   -36472102912
N.A.              CARVILEO CI         1265678976   -34953248768






                            ***********

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, Marites O. Claro, Joy
A. Agravente, Pius Xerxes V. Tovilla, Rousel Elaine C. Tumanda,
Valerie C. Udtuhan, Frauline S. Abangan, and Peter A. Chapman,
Editors.


Copyright 2009.  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.


           * * * End of Transmission * * *