TCRLA_Public/090629.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

              Monday, June 29, 2009, Vol. 10, No. 126

                            Headlines

A N T I G U A  &  B A R B U D A

STANFORD INT'L BANK: Owner Pleads Not Guilty; Not Flight Risk
STANFORD INT'L BANK: SFG Receiver Must Sell Assets to Stem Losses
* ANTIGUA & BARBUDA: Offshore Firms Under Authorities' Scrutiny


A R G E N T I N A

AGRO CUCULLU: Trustee Verifying Proofs of Claim Until August 14
AGROCROP SRL: Trustee Verifying Proofs of Claim Until August 28
ALL TIME: Proofs of Claim Verification Due on September 11
GAS ARGENTINO: Proofs of Claim Verification Due on October 7
IMPERPOL SRL: Trustee Verifying Proofs of Claim Until August 10

INMOBILIARIA MAXI: Trustee Verifying Proofs of Claim Until Aug. 18
SCOTTISH SRL: Trustee Verifying Proofs of Claim Until September 15
TELE NORTE: Regulator Adjusts Rules to Allow Funds Seats on Board
* ARGENTINA: Gov't Grants First Loans of Mortgage Lending Plan


B E R M U D A

BRISTOL-MYERS: Creditors' Proofs of Debt Due on July 15
BRISTOL-MYERS: Members' Final Meeting Set for July 27
BW GROUP: S&P Downgrades Corporate Credit Rating to 'BB+'
MAN-IP 220: Creditors' Proofs of Debt Due on July 8
MAN-IP 220: Members' Final Meeting Set for August 6

MAN MAC: Creditors' Proofs of Debt Due on July 8
MAN MAC: Members' Final Meeting Set for August 6
SYNCORA GUARANTEE: BCP Exchange Offer for RMBS Moved to July 10


B R A Z I L

BRADESCO SA: Provides BRL1.1-Bln Stand-by Facility to Cosan SA
BRASKEM SA: Replan Supplies Propylene to Firm in Paulinia
COSAN SA: Obtains BRL788-Million Loan from BNDES


C A Y M A N  I S L A N D S

AHL ISSUER: Placed Under Voluntary Wind-Up
AHLG CAPITAL: Placed Under Voluntary Wind-Up
ATLANTIC PARTNERS: Creditors' Proofs of Debt Due on July 22
BLUE RIVER: Creditors' Proofs of Debt Due on July 22
CRISPS LIMITED: Creditors' Proofs of Debt Due on July 22

DB GANYMEDE: Placed Under Voluntary Wind-Up
DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
FIRST ENERGY: Placed Under Voluntary Wind-Up

MIDAS LTD: Creditors' Proofs of Debt Due on July 22
OLD MUTUAL: Creditors' Proofs of Debt Due on July 22
QUICKSILVER EURO: Placed Under Voluntary Wind-Up
TENNENBAUM CAPITAL: Creditors' Proofs of Debt Due on July 23
WHITE SAILS: Creditors' Proofs of Debt Due on July 3


C O L O M B I A

BANCOLOMBIA: Sets Extraordinary Shareholders' Meeting on July 8


D O M I N I C A N  R E P U B L I C

* DOMINICAN REPUBLIC: New Car Sales Drop 50% This Year


E C U A D O R

* ECUADOR: Jan-April 2009 Crude Output Dropped 33%
* ECUADOR: To Offer Italian Bond Holders Buyback at 35 Cents/$
* ECUADOR: Exports to Andean Countries Dropped 37% in April


J A M A I C A

AIR JAMAICA: Government to Name Buyer Soon
CABLE & WIRELESS: LIME Spends US$40-Mln to Launch 3G Service
SUPER PLUS: To Close Additional Food Stores
* JAMAICA: Deficit Not Due to Mismanagement, Jamaica Cricket Says


V E N E Z U E L A

PDVSA: To Issue as Much as US$3 Billion Bonds


X X X X X X X X

* BOND PRICING: For the Week June 22 to June 26, 2009


                         - - - - -


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

STANFORD INT'L BANK: Owner Pleads Not Guilty; Not Flight Risk
-------------------------------------------------------------
Stanford International Bank Limited (SIBL) owner Robert Allen
Stanford pleaded not guilty to 21 charges of multi-billion dollar
fraud, money-laundering and obstruction, Agence France-Presse News
(AFP) reports.  The report relates Mr. Stanford, who appeared in a
Houston court Friday, June 25, forcefully said: "Not guilty."

Laurel Brubaker Calkins of Bloomberg News relates Mr. Stanford's
lawyer, Dick DeGuerin, said his client should be released on bond
because he has no intention of fleeing before a trial.  “The
government has engineered circumstances designed to thwart Mr.
Stanford’s efforts to voluntarily surrender and appear,” the
report quoted Mr. DeGuerin as saying.  “Allen Stanford has shown
he is not a flight risk through his actions thus far.”

According to Bloomberg News, Mr. DeGuerin said Mr. Stanford
voluntarily surrendered his passport two days after the U.S.
Securities and Exchange Commission (SEC) sued him of fraud.

As reported in the Troubled Company Reporter-Latin America on
June 24, 2009, Agence France-Presse News said Mr. Stanford
and four others -- former Stanford Financial Group (SFG) Chief
Investment Office Laura Pendergest-Holt; former Antigua financial
regulatory agency chief Leroy King; and Stanford-affiliated
accountants, Mark Kuhrt and Gilberto Lopez -- were charged with 21
counts of fraud, money-laundering and obstruction in a multi-
billion scam.

The U.S. Securities and Exchange Commission, 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 (SGC), and
investment adviser Stanford Capital Management.  According to a
TCR-LA report on April 8, citing Bloomberg News, U.S. District
Judge David Godbey seized all of Mr. Stanford's corporate and
personal assets and placed them under the control of SFG court-
appointed receiver Ralph Janvey.

Assistant Attorney General Lanny Breuer, as cited by AFP,
announced in a 57-page indictment that Mr. Stanford could face up
to 250 years in prison if convicted on all charges.  AFP noted the
indictment came from a grand jury in Houston, Texas that had been
investigating Stanford Financial Group.

A TCRLA report on June 23, citing RadioJamaica, related that Mr.
Stanford surrendered to U.S. authorities after a warrant was
issued for his arrest on criminal charges.  MailOnline News said
Mr. Stanford was arrested in Fredricksburg, Virginia.

                 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: SFG Receiver Must Sell Assets to Stem Losses
-----------------------------------------------------------------
SFG court-appointed receiver Ralph Janvey's lawyer Kevin Sadler
said Mr. Janvey need not wait for a resolution of fraud charges
against Stanford International Bank Limited owner Robert Allen
Stanford before selling properties that are draining cash, Laurel
Brubaker Calkins of Bloomberg News reports.  The report relates
Mr. Sadler said the money could be used to repay investors who
were allegedly victims of a multi-billion scheme.

“The liquidation of Stanford properties is a foregone conclusion,”
Mr. Sadler said in papers asking US District Judge David Godbey in
Dallas for permission to proceed with the sale, the report notes.

As reported in the Troubled Company Reporter-Latin America on
June 24, 2009, Agence France-Presse News said Mr. Stanford
and four others -- former Stanford Financial Group (SFG) Chief
Investment Office Laura Pendergest-Holt; former Antigua financial
regulatory agency chief Leroy King; and Stanford-affiliated
accountants, Mark Kuhrt and Gilberto Lopez -- were charged with 21
counts of fraud, money-laundering and obstruction in a multi-
billion scam.

The U.S. Securities and Exchange Commission, 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 (SGC), and
investment adviser Stanford Capital Management.  According to a
TCR-LA report on April 8, citing Bloomberg News, U.S. District
Judge David Godbey seized all of Mr. Stanford's corporate and
personal assets and placed them under the control of SFG court-
appointed receiver Ralph Janvey.

According to Bloomberg News, Mr. Janvey told Judge Godbey that he
is ready to sell SFG’s headquarters building, in Houston’s upscale
Galleria district, and a private hangar facility at a suburban
Houston airport.

“Together, they are costing the receivership estate more than
$139,446 per month to own and maintain,” Mr. Sadler said in the
filing obtained by Bloomberg News.  Mr. Janvey has shown both
Houston properties to potential buyers and received several
offers, he added.   Bloomberg News relates Mr. Sadler said selling
these and other Stanford holdings would eliminate “significant
administrative costs, including taxes, insurance and maintenance
costs.”

However, Ruth Brewer Schuster, Mr. Stanford's new civil attorney,
as cited by the news agency, asked the court to block Mr. Janvey’s
sale of any assets before the financier has had the chance to
defend himself.

“If at a trial on the merits, the defendants succeed, it will be a
pyrrhic victory for the defendants, investors and creditors if the
receiver is allowed to continue his bargain basement sale of
estate assets,” Ms. Schuster said, in a separate filing at the
Dallas court., the report relates.

Bloomberg News adds that Mr. Janvey’s court papers also offered
reassurances to Stanford’s lien holders, some of whom have
complained the proposed real-estate sales will strip them of their
rights as secured lenders.  “The receiver has no incentive or
intention to sell any properties for less than the value of the
debt securing such properties,” the report quoted Mr. Sadler as
saying.  “The receiver intends to pay the secured creditors out of
the sale proceeds at closing.”

                  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.


* ANTIGUA & BARBUDA: Offshore Firms Under Authorities' Scrutiny
---------------------------------------------------------------
Offshore companies in Antigua and Barbuda are now under the
scrutiny of local authorities as a consequence of the criminal
charges filed against the former country's financial regulatory
body over his involvement in an alleged fraud at the Stanford
International Bank Limited (SIBL), Caribbean360. Com reports.

As reported in the Troubled Company Reporter-Latin America on
June 25, 2009, The Associated Press said Antigua and Barbuda fired
its Chief Financial Regulator Leroy King four days after U.S.
prosecutors charged that he accepted more than $100,000 in bribes
to help (SIBL) owner Robert Allen Stanford with an alleged multi-
billion swindle.  According to the report, Attorney General Justin
Simon said the government accepted the recommendation of the
country's Financial Services Regulatory Commission that Mr. King
"be dismissed from the commission with immediate effect."

AP noted prosecutors said Mr. King, who was the Caribbean islands'
top regulator, should have caught the fraud but instead took
bribes to let it continue.

According to a TCRLA June 24 report, citing Agence France-Presse,
Mr. Stanford and four others -- former Stanford Financial Group
(SFG) Chief Investment Office Laura Pendergest-Holt; Stanford-
affiliated accountants, Mark Kuhrt and Gilberto Lopez; and Mr.
King -- were charged with 21 counts of fraud, money-laundering and
obstruction in a multi-billion scam.

The U.S. Securities and Exchange Commission, 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 (SGC), and
investment adviser Stanford Capital Management.  According to a
TCR-LA report on April 8, citing Bloomberg News, U.S. District
Judge David Godbey seized all of Mr. Stanford's corporate and
personal assets and placed them under the control of SFG court-
appointed receiver Ralph Janvey.

Finance Minister Harold Lovell, as cited by Caribbean360. com,
said Mr. King and temporarily replacing him with banking official
Everett Christian, the Cabinet has instructed the agency to take a
closer look at other businesses in the offshore sector.  "The
Board has been instructed to conduct immediately, a compliance
audit of all registered companies," the report quoted Mr. Lovell
as saying.  "We want to make sure that the world can see that in
light of what has happened we are not simply sitting down and
doing nothing.  We are taking proactive steps, so that is why we
have ordered the compliance audit, to ensure that there are no
other situations like this," he added.



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

AGRO CUCULLU: Trustee Verifying Proofs of Claim Until August 14
---------------------------------------------------------------
The court-appointed trustee for Agro Cucullu S.R.L.'s
reorganization proceedings will be verifying creditors' proofs of
claim until August 14, 2009.

The trustee will present the validated claims in court as
individual reports on September 16, 2009.  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
the company 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 the company's
accounting and banking records will be submitted in court on
October 29, 2009.

Creditors will vote to ratify the completed settlement plan
during the assembly on February 5, 2010.


AGROCROP SRL: Trustee Verifying Proofs of Claim Until August 28
---------------------------------------------------------------
The court-appointed trustee for Agrocrop S.R.L.'s reorganization
proceedings will be verifying creditors' proofs of claim until
August 28, 2009.


ALL TIME: Proofs of Claim Verification Due on September 11
----------------------------------------------------------
Veronica Isabel Segovia, the court-appointed trustee for All Time
Clean SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until September 11, 2009.

Ms. Segovia will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 7 in Buenos Aires, with the assistance of Clerk
No. 14, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

          Veronica Isabel Segovia
          San Martín 662
          Buenos Aires, Argentina


GAS ARGENTINO: Proofs of Claim Verification Due on October 7
------------------------------------------------------------
Estudio Herrera & Asoc., the court-appointed trustee for Gas
Argentino SA's reorganization proceeding, will be verifying
creditors' proofs of claim until October 7, 2009.

The trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk
No. 17, 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.

Creditors will vote to ratify the completed settlement plan
during the assembly on July 7, 2010.

The Trustee can be reached at:

          Estudio Herrera & Asoc.
          Viamonte 1454
          Buenos Aires, Argentina


IMPERPOL SRL: Trustee Verifying Proofs of Claim Until August 10
---------------------------------------------------------------
The court-appointed trustee for Imperpol S.R.L.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
August 10, 2009.

The trustee will present the validated claims in court as
individual reports on September 23, 2009.  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
the company 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 the company's
accounting and banking records will be submitted in court on
November 5, 2009.


INMOBILIARIA MAXI: Trustee Verifying Proofs of Claim Until Aug. 18
------------------------------------------------------------------
The court-appointed trustee for Inmobiliaria Maxi S.A.'s
bankruptcy proceedings will be verifying creditors' proofs of
claim until August 18, 2009.

The trustee will present the validated claims in court as
individual reports on September 30, 2009.  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
the company 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 the company's
accounting and banking records will be submitted in court on
November 12, 2009.


SCOTTISH SRL: Trustee Verifying Proofs of Claim Until September 15
------------------------------------------------------------------
The court-appointed trustee for Scottish S.R.L.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
September 15, 2009.

The trustee will present the validated claims in court as
individual reports on October 27, 2009.  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
the company 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 the company's
accounting and banking records will be submitted in court on
December 9, 2009.


TELE NORTE: Regulator Adjusts Rules to Allow Funds Seats on Board
-----------------------------------------------------------------
Brazilian telecom regulator, Anatel, changed rules allowing three
state-linked pension funds to take up seats on Brazil-based Tele
Norte Leste Participacoes S.A. (Oi), Alastair Stewart of Dow Jones
Newswires reports, citing an unnamed company spokesman.

According to the report, the three pension funds –- Previ, the
pension fund of Banco do Brasil; Petros, the Petrobras workers'
fund, and Funcef, the workers' fund of state savings bank Caixa
Economica Federal -- are key members of Oi's controlling group but
couldn't take up their seats on the board because they already
held seats in Brasil Telecom Participacoes.

As reported in the Troubled Company Reporter-Latin America on
July 8, 2008, Anatel authorized the revision of the telecoms law
that will allow Tele Norte to proceed with its acquisition of
Brasil Telecom, as the current legislation doesn't allow a fixed
line telecommunications firm to purchase another telecom to
avoid creating a conflict with existing concession licenses.

However, DJ Newswires relates the government neglected to change
rules limiting companies to representation on the board of only
one fixed-line operator.  The report says now Anatel has corrected
this anomaly.

                        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.


* ARGENTINA: Gov't Grants First Loans of Mortgage Lending Plan
--------------------------------------------------------------
The Argentina government started granting the first loans of a
mortgage lending plan, aiming to boost the construction and real
estate sectors and announced it would increase the volume of this
year's credits for home buyers, Buenos Aires Herald reports.  The
report relates the the mortgage loan certificates are funded by
the ANSES social security agency.

According to the report, the plan offers home buyers up to 20-
year, peso-denominated mortgages.

The report notes the government holds a majority stake in Banco
Hipotecario, which has private management.  Deposits from the
ANSES will be used to finance the loans, the report says.

                       *     *     *

As reported by the Troubled Company Reporter - Latin America on
December 23, 2008, Fitch Ratings downgraded the Republic of
Argentina's long-term local currency issuer default rating to
'B-'; country ceiling to 'B'; and performing bonds in foreign and
local currency governed by Argentine law to 'B-/RR4'.  The rating
outlook on the local currency IDR is Stable.

In addition, Fitch affirmed the country's long-term foreign
currency IDR remains in Restricted Default ('RD'); short-term IDR
at 'B'; performing bonds in foreign currency governed by foreign
law at 'B-/RR4'; defaulted senior unsecured notes at 'CC/RR4'; and
defaulted collateralized Brady bonds at 'CCC-/RR3'.



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

BRISTOL-MYERS: Creditors' Proofs of Debt Due on July 15
-------------------------------------------------------
The creditors of Bristol-Myers Squibb Sigma Finance Ltd. are
required to file their proofs of debt by July 15, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 23, 2009.

The company's liquidator is:

           Nicholas Hoskins
           Chancery Hall, 52 Reid Street
           Hamilton, Bermuda


BRISTOL-MYERS: Members' Final Meeting Set for July 27
-----------------------------------------------------
The members of Bristol-Myers Squibb Sigma Finance Ltd. will hold
their final general meeting on July 27, 2009, at 11:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company commenced wind-up proceedings on June 23, 2009.

The company's liquidator is:

           Nicholas Hoskins
           Chancery Hall, 52 Reid Street
           Hamilton, Bermuda


BW GROUP: S&P Downgrades Corporate Credit Rating to 'BB+'
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit rating on Bermuda-incorporated energy shipping company BW
Group Ltd. to 'BB+' from 'BBB-'. The outlook is stable.  At the
same time, S&P lowered S&P's issue rating on the company's US$500
million senior unsecured notes due June 2017 to 'BB+' from 'BBB-'.

"We expect the Bermuda-incorporated company's leverage to remain
high and its deleveraging to take longer than expected under the
ongoing global economic downturn," said Standard & Poor's credit
analyst Manuel Guerena.

The current economic environment continues to depress Time Charter
Equivalent rates, asset valuations, and shipping operators'
earnings.  In addition, competition is expected to remain intense
given that significant global order book for new vessels will
supply additional capacity over the next few years.

The ratings on BW reflect the company's high leverage and weak
operating environment.  It also reflects the company's partial
exposure to some of the more volatile segments of the business,
i.e., very large crude carriers and very large gas carriers
transporting liquefied petroleum gas.  These factors are partially
offset by the company's established market position and
diversified earnings base, plus stable annual revenues of
approximately US$1 billion from long-term charter contracts.

"We understand that BW has taken steps to improve financial
flexibility, including waiving its dividend payment, selling
vessels, scaling down its capital expenditures, and refinancing
part of its existing borrowing.  Although these measures have
strengthened its liquidity position, significant improvement in
the company's credit measures are likely to be limited in the near
term, given the challenging operating environment," Mr. Guerena
said.

The stable outlook is based on S&P's expectations that the
company's liquidity will remain adequate, supported by steady
earnings from its fixed contracts and its effort to preserve cash
flows throughout its ongoing fleet management.

The ratings could come under further pressure if BW's credit
profile continues to weaken, such that its adjusted ratio of FFO
to debt falls below 15% for an extended period of time or its
liquidity weakens substantially due to large operating cash
outflows.  Rating upside is limited unless there is material
improvement on its cash flow measures, accompanied by improving
market conditions.


MAN-IP 220: Creditors' Proofs of Debt Due on July 8
---------------------------------------------------
The creditors of Man-IP 220 Plus Bond Limited are required to file
their proofs of debt by July 8, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 22, 2009.

The company's liquidator is:

           Beverly Mathias
           c/o Argonaut Limited
           Argonaut House
           5 Park Road, Hamilton HM O9
           Bermuda


MAN-IP 220: Members' Final Meeting Set for August 6
---------------------------------------------------
The members of Man-IP 220 Plus Bond Limited will hold their final
general meeting on August 6, 2009, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on June 22, 2009.

The company's liquidator is:

           Beverly Mathias
           c/o Argonaut Limited
           Argonaut House
           5 Park Road, Hamilton HM O9
           Bermuda


MAN MAC: Creditors' Proofs of Debt Due on July 8
------------------------------------------------
The creditors of Man MAC Lucendro 5B Limited are required to file
their proofs of debt by July 8, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 22, 2009.

The company's liquidator is:

           Beverly Mathias
           c/o Argonaut Limited
           Argonaut House
           5 Park Road, Hamilton HM O9
           Bermuda


MAN MAC: Members' Final Meeting Set for August 6
------------------------------------------------
The members of Man MAC Lucendro 5B Limited will hold their final
general meeting on August 6, 2009, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on June 22, 2009.

The company's liquidator is:

           Beverly Mathias
           c/o Argonaut Limited
           Argonaut House
           5 Park Road, Hamilton HM O9
           Bermuda


SYNCORA GUARANTEE: BCP Exchange Offer for RMBS Moved to July 10
---------------------------------------------------------------
The BCP Voyager Master Funds SPC, Ltd., acting on behalf of and
for the account of, the Distressed Opportunities Master Segregated
Portfolio, has extended the expiration date of the Fund's offer
for 55 classes of residential mortgage backed securities insured
by Syncora Guarantee Inc. to 11:59 p.m., New York City time, on
Friday, July 10, 2009. The offer will expire at that time, unless
extended.

                  Certain Consent Prices Revised

The Fund has revised certain consent prices offered for each class
of RMBS from those previously disclosed, subject to the conditions
described in the offer.  All Eligible RMBS Securities validly
tendered as of 11:59 p.m. on June 26, 2009 will be accepted into
the offer prior to any RMBS tendered on or after that time,
subject to the conditions described in the offer. If there are
only sufficient funds to accept a portion of the tendered RMBS of
a given priority of acceptance, then tenders for that given
priority of acceptance will be accepted pro rata.

                   Results of Offer as of June 26
          and Status of Discussions with Holders of RMBS

The Fund also announced the results of the offer and the status of
certain discussions with holders of RMBS as of June 26, 2009.  As
of June 26, tenders have been received in the offer and binding,
non-binding and other agreements have been reached by the Fund
and/or Syncora Guarantee and holders of RMBS to remediate RMBS
exposures totaling 54.7 remediation points.  RMBS representing
38.4 remediation points have been tendered into the offer, binding
agreements have been reached by the Fund or Syncora Guarantee and
RMBS holders to remediate RMBS exposures totaling 10.7 remediation
points, subject to certain conditions, and non-binding agreements
have been reached by the Fund or Syncora Guarantee and RMBS
holders to remediate RMBS exposures totaling 5.5 remediation
points.

An agreement has been reached by the Fund and Syncora Guarantee
and one RMBS holder to remediate RMBS exposures totaling 1.7
remediation points, in the event certain conditions are met.  The
Fund and Syncora Guarantee are in continuing discussions with
numerous other holders of RMBS as the offer continues.

The aggregate principal amounts of RMBS securities that have been
tendered into the offer are:

                                                    Aggregate
                                                    Principal
                                                    Balance in
                                                    US$ Tendered
  CUSIP No.    Security Description                 As of 06/26/09
  ---------    --------------------                 --------------
  39539BAA1    GreenPoint Mortgage Funding Trust
                2006-HE1                                86,452,326
  126685DT0    Countrywide Home Equity Loan Trust
                2006D                                  137,928,505
  39539JAA4    GreenPoint Mortgage Funding Trust
                2007-HE1                                55,690,854
  45664UAA3    Indymac Home Equity Mortgage Loan
                Asset Backed Trust Series 2006-H3       75,460,819
  126685DS2    Countrywide Home Equity Loan Trust
                2006D                                  226,354,373
  41161MAB6    Harborview Mortgage Pass-Through
                Certificates Series 2006-5              74,098,902
  126685AT3    CWABS, Home Equity Revolving Loan
                Trust 2005-K                           110,046,593
  1248MKAA3    C-BASS Mortgage Loan Asset-Backed
                Certificates, Series 2007-SL1           66,977,590
  75114GAB5    RALI 2006-QO4 Trust                      51,404,290
  41161PE41    Harborview Mortgage Pass-Through
                Certificates 2006-CB1                   39,701,573
  456612AB6    Indymac Indx Mortgage Loan Trust
                2006-AR6                                84,772,320
  41161PG64    Harborview Mortgage Loan Trust
                2006-BU1                                34,339,366
  68402SAA7    Option One Mortgage Loan Trust
                2007-HL1                               205,830,564
  12668VAB5    Countrywide Home Equity Loan Trust
                2006-S7                                 23,900,595
  86801CAA1    STICS 2007-1                             83,781,970
  65538BAA7    Nomura NAAC 2007-S2                               -
  41161PL35    Harborview Mortgage Pass-Through
                Certificates 2006-4                     93,977,192
  41161PP72    Harborview Mortgage Pass-Through
                 Certificates 2006-4                             -
  41161PQ22    Harborview Mortgage Pass-Through
                 Certificates 2006-4                    41,768,612
  12668VAC3    Countrywide Home Equity Loan Trust
                2006-S7                                 38,551,660
  1248MKAB1    C-BASS Mortgage Loan Asset-Backed
                Certificates, Series 2007-SL1           62,150,773
  785778QA2    SACO I Trust 2006-1                      10,941,134
  41161PXG3    Harborview Mortgage Loan Trust 2005-15   14,575,372
  41161PUJ0    Harborview Mortgage Pass-Through
                Certificates 2005-11                    12,686,329
  12587PEM8    BSSP 2007-R5 (Bear Stearns)                       -
  12668VAD1    Countrywide Home Equity Loan Trust
                2006-S7                                          -
  12668VAA7    Countrywide Home Equity Loan Trust
                2006-S7                                 13,523,180
  23332UGP3    Downey Savings and Loan Mortgage Trust
                Series 2006-AR1                                  -
  23332UGL2    Downey Savings and Loan Mortgage Trust
                Series 2006-AR1                            426,155
  12668VAF6    Countrywide Home Equity Loan Trust
                2006-S7                                          -
  52524PBT8    Lehman XS Trust, Series 2007-6            3,097,240
  12668VAE9    Countrywide Home Equity Loan Trust
                2006-S7                                 12,025,983
  126685AU0    CWABS, Home Equity Revolving Loan
                Trust 2005-K                            10,542,964
  456612AE0    Indymac Indx Mortgage Loan Trust
                2006-AR6                                42,044,903
  07401UAB9    Bear Stearns Second Lien Trust
                2007-SV1                               162,192,000
  126673QB1    Countrywide Home Equity Loan Trust
                2004R                                   38,060,530
  52524TAS3    Lehman XS Trust, Series 2007-8H                   -
  41161PL68    Harborview Mortgage Pass-Through
                Certificates 2006-4                              -
  30248EAA6    First Franklin Mortgage Loan Trust
                Series 2007-FFB-SS                      89,928,498
  525248BL3    Lehman XS Trust, Series 2007-5H          25,219,400
  75114GAE9    RALI 2006-QO4 Trust                      40,478,820
  126685AX4    CWABS, Home Equity Revolving Loan
                Trust 2005-K                            39,787,632
  525248BK5    Lehman XS Trust, Series 2007-5H          28,593,744
  126673QA3    Countrywide Home Equity Loan Trust
                2004R                                            -
  126673MY5    Countrywide Home Equity Loan Trust
                2004Q                                   49,857,273
  126685AW6    CWABS, Home Equity Revolving Loan
                Trust 2005-K                            12,978,770
  07401UAU7    Bear Stearns Second Lien Trust
                2007-SV1                                25,529,277
  86363GBS2    Structured Adjustable Rate Mortgage
                Loan Trust, Series 2007-3               28,745,884
  126673MX7    Countrywide Home Equity Loan Trust
                2004Q                                            -
  41161PUM3    Harborview Mortgage Pass-Through
                Certificates 2005-11                             -
  525245CP9    Lehman XS Trust, Series 2007-3           17,241,072
  41161PG98    Harborview Mortgage Loan Trust
                2006-BU1                                14,911,945
  68402SAD1    Option One Mortgage Loan Trust
                2007-HL1                                         -
  68402SAC3    Option One Mortgage Loan Trust
                2007-HL1                                22,220,000
  68402SAB5    Option One Mortgage Loan Trust
                2007-HL1                                22,161,593

The offer and related financing are also conditioned on the
consummation of an agreement entered into between Syncora
Guarantee and certain counterparties to Syncora Guarantee's credit
default swap transactions and financial guarantee insurance
policies, the tender of a minimum amount of RMBS, approval of the
New York Department of Insurance and certain other conditions.
Holders of RMBS that have tendered or will tender their RMBS into
the offer are no longer able to withdraw their tendered RMBS.

The offer by the Fund and any transactions with Syncora Guarantee
are being conducted only with qualified institutional buyers and
are exempt from registration under Section 4(2) of the Securities
Act of 1933, as amended.  Any securities that may be issued
pursuant to such transactions have not been and, at the time of
the closing of the transaction, will not be registered under the
Securities Act or any state securities laws.  The securities may
not be offered or sold in the United States absent registration
under, or an applicable exemption from, the registration
requirements of the Securities Act and applicable state securities
laws.

                   About Syncora Guarantee Inc.

Syncora Guarantee Inc. -- http://www.syncora.com/-- is a wholly
owned subsidiary of Syncora Holdings Ltd.  Syncora Holdings Ltd.
is a Bermuda-domiciled holding company.

In April 2009, Standard & Poor's Ratings Services revised its
financial strength and financial enhancement ratings on Syncora
Guarantee Inc. to 'R' from 'CC'.  Standard & Poor's also revised
its counterparty credit rating on Syncora to 'D' from 'CC'.  An
insurer rated 'R' is under regulatory supervision because of its
financial condition.  The 'CC' counterparty credit, financial
strength, and financial enhancement ratings on Syncora Guarantee
U.K. Ltd. are unchanged because at this time, that company is not
subject to any regulatory orders that mandate the suspension of
claims payments.



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

BRADESCO SA: Provides BRL1.1-Bln Stand-by Facility to Cosan SA
--------------------------------------------------------------
Brazil-based Banco Bradesco S.A. has provided Cosan SA a
BRL1.1 billion stand-by facility, LatinFrance reports.

According to the report, the fund will be used to re-finance Cosan
Sa's promissory notes due in November.

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.


BRASKEM SA: Replan Supplies Propylene to Firm in Paulinia
---------------------------------------------------------
According to an agreement reached with Petrobras, Braskem SA has
begun to receive propylene from Replan, in Paulinia, in the state
of Sao Paulo.  About 260 thousand tons will be delivered annually
through the pipeline that connects the two units.  The Braskem
plant in Paulinia has the capacity to produce 350 thousand tons of
polypropylene per year.

"The pipeline is important for greater efficiency in logistics and
product quality.  Final cost also becomes more advantageous due to
the lack of coastwise or highway shipping," says Fabio Schettini,
Supply-Chain Manager at Braskem.

The Replan pipeline supply will be complemented by Revap truck
supply from São José dos Campos.  The latter had already been a
propylene supplier for the Paulinia unit.

"With the pipeline supply of propylene and the continued supply by
highway transportation, Braskem’s Paulinia unit will reach full
production capacity in 2009,” Mr. Schettini said.

                       About Braskem S.A.

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

                        *     *     *

As of June 17, 2009, the company continues to carry Fitch Ratings'
BB+ currency long-term Issuer Default Ratings, BB+ unsecured
senior notes due 2014, 2017, 2018.


COSAN SA: Obtains BRL788-Million Loan from BNDES
------------------------------------------------
Brazil-based Cosan SA has obtained a BRL788 million loan from
Banco Nacional de Desenvolvimento Economico e Social SA (BNDES),
LatinFrance reports.

According to the report, BRL639 million of the loan will go to the
implementationof the company's greenfield mill project in Jatai,
Goias, while the remaining BRL149 million will be used for a
cogeneration project at its Gasa unit in Sao Paulo state.  “BNDES
will finance approximately 65% and 78% of the total amount to be
invested in the Jatai and Gasa projects, respectively, over a
period of up to 12 years,” the company was quoted by LatinFrance
as saying.

Moreover, the report notes the company has also obtained a stand-
by facility from Bradesco of up to BRL1.1 billion in order to re-
finance promissory notes due in November.

                       About Cosan SA

Headquartered in Piracicaba, Brazil, Cosan S.A. Industria e
Comercio -- http://www.cosan.com.br/en/ir/-- produces sugar and
ethanol.  The company cultivates harvests and processes sugarcane,
the main raw material for sugar and ethanol manufacturing.  With
17 manufacturing units and two port terminals in the city of
Santos, Cosan says it is currently the largest individual group in
the world in terms of sugarcane byproducts manufacturing.  With
capacity to grind more than 40 million tonnes of sugarcane, the
group represents 12% of overall production in the mid-southern
region of the country.

                         *     *     *

As of May 21, 2009, the company continues to carry Moody's Ba3 LT
Corp Family rating and Ba3 Senior Unsecured Debt rating.  The
company also continues to carry Standard and Poor's BB-Issuer
Credit ratings.



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

AHL ISSUER: Placed Under Voluntary Wind-Up
------------------------------------------
On June 11, 2009, the sole shareholder of AHL Issuer Capital
Funding Corporation resolved to voluntarily liquidate the
company's business.

The company's liquidator is:

           David Dyer
           P.O. Box 1984, Grand Cayman KY1-1104
           Cayman Islands


AHLG CAPITAL: Placed Under Voluntary Wind-Up
--------------------------------------------
On June 11, 2009, the sole shareholder of AHLG Capital Funding
Corporation resolved to voluntarily liquidate the company's
business.

The company's liquidator is:

           David Dyer
           P.O. Box 1984, Grand Cayman KY1-1104
           Cayman Islands


ATLANTIC PARTNERS: Creditors' Proofs of Debt Due on July 22
-----------------------------------------------------------
The creditors of Atlantic Partners Global Fund are required to
file their proofs of debt by July 22, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 10, 2009.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Bernadette Bailey-Lewis
          dms Corporate Services Ltd.
          dms House, 2nd Floor
          P.O. Box 1344, Grand Cayman KY1-1108
          Telephone: (345) 946 7665
          Facsimile: (345) 946 7666


BLUE RIVER: Creditors' Proofs of Debt Due on July 22
----------------------------------------------------
The creditors of Blue River Assets Limited are required to file
their proofs of debt by July 22, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 8, 2009.

The company's liquidator is:

          Lion International Corporate Services Limited
          c/o Latasha Nixon
          P.O. Box 484 GT, Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 949 7755
          Facsimile: (345) 949-7634


CRISPS LIMITED: Creditors' Proofs of Debt Due on July 22
--------------------------------------------------------
The creditors of Crisps Limited are required to file their proofs
of debt by July 22, 2009, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 11, 2009.

The company's liquidator is:

          Ellen J. Christian
          Piccadilly Cayman Limited
          c/o BNP Paribas Bank & Trust Cayman Limited
          Royal Bank House, 3rd Floor
          Shedden Road, George Town
          Grand Cayman
          Telephone: 345 945 9208
          Fax: 345 945 9210


DB GANYMEDE: Placed Under Voluntary Wind-Up
-------------------------------------------
On June 11, 2009, the sole shareholder of DB Ganymede Corp.
resolved to voluntarily liquidate the company's business.

The company's liquidator is:

           David Dyer
           P.O. Box 1984, Grand Cayman KY1-1104
           Cayman Islands


DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
--------------------------------------------------------
The creditors of Dragon Billion Greater China Fund are required to
file their proofs of debt by July 27, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 2, 2009.

The company's liquidator is:

          Nigel Stead
          ManagementPlus (Singapore) Pte Ltd
          31 Club Street, #03-01 Emerald Garden
          Singapore 069468
          Telephone: (65) 3125 2180
          Facsimile: (65) 3125 2181


DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
--------------------------------------------------------
The creditors of Dragon Billion Greater China Master Fund are
required to file their proofs of debt by July 27, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 2, 2009.

The company's liquidator is:

          Nigel Stead
          ManagementPlus (Singapore) Pte Ltd
          31 Club Street, #03-01 Emerald Garden
          Singapore 069468
          Telephone: (65) 3125 2180
          Facsimile: (65) 3125 2181


DRAGON BILLION: Creditors' Proofs of Debt Due on July 27
--------------------------------------------------------
The creditors of Dragon Billion Greater China U.S. Feeder Fund are
required to file their proofs of debt by July 27, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 2, 2009.

The company's liquidator is:

          Nigel Stead
          ManagementPlus (Singapore) Pte Ltd
          31 Club Street, #03-01 Emerald Garden
          Singapore 069468
          Telephone: (65) 3125 2180
          Facsimile: (65) 3125 2181


FIRST ENERGY: Placed Under Voluntary Wind-Up
--------------------------------------------
On May 20, 2009, the sole shareholder of First Energy passed a
resolution that voluntarily winds up the company's operations.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Walker House, 87 Mary Street, George Town
          Grand Cayman KY1-9002, Cayman Islands
          Telephone: (345) 914-6314


MIDAS LTD: Creditors' Proofs of Debt Due on July 22
---------------------------------------------------
The creditors of Midas Ltd are required to file their proofs of
debt by July 22, 2009, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 10, 2009.

The company's liquidator is:

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


OLD MUTUAL: Creditors' Proofs of Debt Due on July 22
----------------------------------------------------
The creditors of Old Mutual Al SAQR Master Fund Limited are
required to file their proofs of debt by July 22, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 4, 2009.

The company's liquidator is:

          John Sutlic
          c/o Kim Charaman
          Close Brothers (Cayman) Limited
          Harbour Place, Fourth Floor
          P.O. Box 1034, Grand Cayman KY1-1102
          Telephone: (345) 949 8455
          Facsimile: (345) 949 8499


QUICKSILVER EURO: Placed Under Voluntary Wind-Up
------------------------------------------------
On June 11, 2009, the sole shareholder of Quicksilver Euro CBO I
(Cayman) Limited resolved to voluntarily liquidate the company's
business.

The company's liquidator is:

           David Dyer
           P.O. Box 1984, Grand Cayman KY1-1104
           Cayman Islands


TENNENBAUM CAPITAL: Creditors' Proofs of Debt Due on July 23
------------------------------------------------------------
The creditors of Tennenbaum Capital SPC are required to file their
proofs of debt by July 23, 2009, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 10, 2009.

The company's liquidators are:

           Victor Murray
           Jess Shakespeare
           c/o Maples Finance Limited
           PO Box 1093, Boundary Hall
           Grand Cayman KY1-1102, Cayman Islands


WHITE SAILS: Creditors' Proofs of Debt Due on July 3
----------------------------------------------------
The creditors of White Sails Limited are required to file their
proofs of debt by July 3, 2009, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 11, 2009.

The company's liquidator is:

          Avalon Ltd.
          Harbour Centre, Third Floor
          42 North Church Street
          P.O. Box 1348, George Town
          Grand Cayman KY1-1108, Cayman Islands
          Telephone: (+1) 345 769 4422
          Facsimile: (+1) 345 769 9351



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

BANCOLOMBIA: Sets Extraordinary Shareholders' Meeting on July 8
---------------------------------------------------------------
Colombia-based Bancolombia S.A.'s board of directors decided to
call an Extraordinary Shareholders Meeting to be held on Wednesday
July 8, 2009, at 9:00 a.m. in Bancolombia's headquarters located
in Carrera 48 #26-85, Torre Sur, 11th Floor, Medellin, Colombia.

The only matter on the agenda for this Extraordinary Shareholders'
Meeting will be a proposal to issue non-voting preferred shares of
Bancolombia and the delegation of authority to determine the terms
of the issuance and offering of such preferred shares to the Board
of Directors.  The decision to propose a share issuance was taken
in order to continue strengthening Bancolombia's capital and be in
a position to take advantage of existing market opportunities.

                        About Bancolombia

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

                         *     *     *

As of June 19, 2009, the company continues to carry Fitch Ratings'
“BB+” LT Issuer Credit rating and “B” ST Issuer Default Rating.
The company also continues to carry Moody's “D+” Bank Financial
Strength Rating.



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

* DOMINICAN REPUBLIC: New Car Sales Drop 50% This Year
------------------------------------------------------
Dominican Republic's new car sales estimates so far this year has
dropped 50% compared to 2008, Dr1 News reports, citing Association
of Concessionaires of Car Manufacturers (Acofave) Executive
Enrique Fernandez.

According to the report, Mr. Fernandez said sales in 2008 were
already much lower than in 2007.  The report relates Mr. Fernandez
said that his members sold 30,636 new cars in 2007.

New car sales in 2008 totaled 21,894, and prospects for this year
are much worse, the report says.



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

* ECUADOR: Jan-April 2009 Crude Output Dropped 33%
--------------------------------------------------
Ecuador's Ecuador's average oil output fell 3% to 499,000 barrels
a day in the January-April period from 514,000 barrels a day in
the same period of 2008, Mercedes Alvaro of Dow Jones Newswires
reports, citing the central bank.

According to the report, Petroecuador averaged output of 282,000
B/D in the first four months, not including shared production with
private companies, while private companies' output was 217,000
B/D.

The country's total Jan-April oil production was 59.83 million
barrels, the report notes.

DJ Newswires says Ecuador's average oil output was 495,200 barrels
a day in April.

                         *     *     *

As reported by the Troubled Company Reporter - Latin America on
December 17, 2008, Fitch Ratings downgraded Ecuador's long-
term foreign currency Issuer Default Rating (IDR) to 'RD' from
'CCC' following the expiration of the grace period for the coupon
payment on the 2012 global bonds that was due on Nov. 15 and the
government's announcement that it will selectively default on all
global bonds.  The short-term foreign currency rating was
downgraded to 'D' from 'C'.  The country ceiling remains at 'B-'.


* ECUADOR: To Offer Italian Bond Holders Buyback at 35 Cents/$
--------------------------------------------------------------
The Ecuador government will offer to buy back defaulted bonds held
by Italians at 35 cents per dollar of the debt’s face value,
Stephan Kueffner of Bloomberg News reports, citing Finance
Minister Maria Elsa Viteri.  The report relates Ms. Viteri said
the offer would have to be approved by Italian regulatory
agencies.

As reported in the Troubled Company Reporter-Latin America on
June 15, 2009, Bloomberg News said Ecuador bought back 91% of its
defaulted bonds due 2012 and 2030 and will re-open its offer to
bondholders who didn’t participate.  Dow Jones Newswires related
that Ms. Viteri said 8.7% of the 2012 bonds remain in the market,
while 7.2% of the 2030 bonds are still outstanding.  President
Rafael Correa, according to DJ Newswires, said that the government
had spent about US$900 million on the bond buyback and had
repurchased about US$2.9 billion worth of the debt.  According to
Bloomberg News, the Ecuador government offered the holdouts at 35
cents on each dollar of the bonds’ face value, the same term as
the initial offer.

DJNewswires said Ecuador has three overseas bond issues
outstanding:

   -- US$510 million in bonds due 2012, which carry
      a 12% coupon;

   -- US$650 million of 9.375% bonds due 2015; and

   –- US$2.7 billion of 10% bonds due 2030.

                        *     *     *

As reported by the Troubled Company Reporter - Latin America on
December 17, 2008, Fitch Ratings downgraded Ecuador's long-
term foreign currency Issuer Default Rating (IDR) to 'RD' from
'CCC' following the expiration of the grace period for the coupon
payment on the 2012 global bonds that was due on Nov. 15 and the
government's announcement that it will selectively default on all
global bonds.  The short-term foreign currency rating was
downgraded to 'D' from 'C'.  The country ceiling remains at 'B-'.


* ECUADOR: Exports to Andean Countries Dropped 37% in April
-----------------------------------------------------------
Ecuador's exports to Andean countries dropped 37% to US$141
million in April from US$223 million registered in the same month
last year, Mercedes Alvaro of Dow Jones Newswires reports, citing
the country's central bank.

According to the report, Ecuadorian imports from Andean countries
-- Bolivia, Colombia, Ecuador, Venezuela –- totaled US$200 million
in the same period, down 47% from US$375 million registered in the
previous year.

According to the report, the central bank data showed:

Country            Exports                Imports

Colombia           US$48 million (34%)    US$106 million
Peru               US$64 million (46%)    US$51 million
Venezuela          US$27 million (19%)    US$42 million
Bolivia            the remainder          the remainder

The report recalls last year, Ecuador's exports to the Andean
countries totaled US$3.20 billion while imports from the group
totaled US$4.67 billion.

                        *     *     *

As reported by the Troubled Company Reporter - Latin America on
December 17, 2008, Fitch Ratings downgraded Ecuador's long-
term foreign currency Issuer Default Rating (IDR) to 'RD' from
'CCC' following the expiration of the grace period for the coupon
payment on the 2012 global bonds that was due on Nov. 15 and the
government's announcement that it will selectively default on all
global bonds.  The short-term foreign currency rating was
downgraded to 'D' from 'C'.  The country ceiling remains at 'B-'.



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

AIR JAMAICA: Government to Name Buyer Soon
------------------------------------------
The Jamaican government said it will name a buyer for cash-
strapped Air Jamaica Limited in another two weeks, RadioJamaica
News reports.  The report relates the sale is now slated to be
completed before the July 31 deadline which was set by the Finance
Ministry.

The report recalls during Prime Minister Bruce Golding's monthly
radio call in programme "Jamaica House Live", he disclosed that
the transfer of ownership of the airline should begin by the
middle of next month.  "The process is pretty much advanced and I
expect to have the final report of recommendations from the
privatization team I would say within a matter of weeks, not even
a month.  The matter will not be before Cabinet until the middle
of July based on the advice I have from the team.  But they are
well advanced and I think we are in a position where a decision
can be made," the report quoted Mr. Golding as saying.

As reported in the Troubled Company Reporter-Latin America on
June 10, 2009, Jamaica Observer said Trinidad and Tobago-owned
Caribbean Airlines and Thomas Cook have both expressed an interest
in acquiring Air Jamaica.  "There are two solid offers on the
table and both parties are reputable," an executive working on
securing a deal told Caribbean Business, the Observer related.
"The British tour operator Thomas Cook and Trinidad's Caribbean
Airlines have placed serious bids for Air Jamaica and it is now a
process of evaluation and negotiation.  This deal is likely to be
completed within the deadline."

                         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 of June 18, 2009, the company continues to carry Moody's LT
Corp Family rating and Senior Unsecured Debt rating at B2.  The
company also continues to carry Standard and Poor's LT Foreign
Issuer Credit Rating at B-.


CABLE & WIRELESS: LIME Spends US$40-Mln to Launch 3G Service
------------------------------------------------------------
Lime (formerly Cable & Wireless Jamaica), a unit of  Cable &
Wireless plc, has expended US$40 million to roll out the 3G
service to its subscribers in Jamaica, Jamaica Gleaner reports.

According to the report, the company said the it will deliver its
3G service, which will be 20 to 100 times faster than other high-
performing technology, in phases starting in sections of Kingston,
St Andrew and St Catherine.  The plan, however, is for islandwide
coverage, the report relates.

The Gleaner notes Geoff Houston, country manager at LIME Jamaica,
said the company hopes to blanket Jamaica with the 3G service
within 12-18 months.

"I will expect over the course of the next 12 to 24 months that
our market share will start to grow significantly," Mr. Houston
told Wednesday Business in an interview, the report relates.  "...
With three players in the market, we expect to see some
normalising of the market shares.  We are expecting significant
gains, particularly in the initial phases in the business market,"
he added.

                      About Cable & Wireless

Headquartered in London, England, Cable & Wireless plc --
http://www.cw.com/-- is an international telecommunications
company.  The Company offers mobile, broadband and domestic and
international fixed line services to homes, small and medium-sized
enterprises, corporate customers and governments.  It operates in
39 countries through four major operations in the Caribbean,
Panama, Macau and Monaco & Islands.  It operates through two
businesses: International and Europe, Asia & US.  Its
International business operates full service telecommunications
companies through four major operations in the Caribbean, Panama,
Macau and Monaco and Islands.  Its Europe, Asia & US provides
enterprise and carrier solutions to the largest users of telecom
services across the United Kingdom, continental Europe, Asia and
the United States.  Its subsidiaries include Cable & Wireless UK,
Cable & Wireless Jamaica Ltd, Cable & Wireless Panama, SA, Cable &
Wireless (Barbados) Ltd and Monaco Telecom SAM.

                          *     *     *

As of March 17, 2009, Cable & Wireless plc continues to carry
Moody's "Ba3" long-term corporate family rating, "B1" senior
unsecured debt rating and "Ba3" probability of default rating with
a stable outlook.

The company also continues to Standard & Poor's "BB-" long-term
foreign and local issuer credit ratings and "B" short-term foreign
and local issuer credit ratings.


SUPER PLUS: To Close Additional Food Stores
-------------------------------------------
The Super Plus food chain plans to close five additional stores,
increasing the total number of ceased operations to 13,
RadioJamaica reports.  The report relates that the firm's move
appears that its financial woes are worsening.

According to the report, the Spanish Town branch is among those
that will be affected in the latest phase of the down sizing.

"We are closing our Spanish Town location as part of our
restructuring operations.  We have closed the Trafalgar Road New
Kingston branch and the Liguanea Branch and we will also close
four other branches in 30 days making a total of 13 stores closed
after the restructuring is over," the report quoted SuperPlus
Chairman Wayne Chen as saying.  The supermarket chain is further
restructuring its operations in order to reduce its debts, he
added.

The report notes Mr. Chen said that at the end of the
restructuring exercise the network of stores will be reduced to
14.

As reported in the Troubled Company Reporter-Latin America on
April 15, 2009, RadioJamaica said Super Plus closed its branches
in Liguanea, St. Andrew, New Kingston, and Oasis Centre in Spanish
Town, St. Catherine.  The report related Super Plus' head office
at Beverly Vale has reportedly been sold as the company seeks to
rationalize its operations, closing non- performing stores while
at the same time trimming waste.

Super Plus is one of Jamaica's largest food chains.


* JAMAICA: Deficit Not Due to Mismanagement, Jamaica Cricket Says
-----------------------------------------------------------------
Jamaica Cricket 2007 Limited said that the losses Jamaica incurred
after the Cricket World Cup 2007, was not due to the company's
mismanagement or 'splurging', Jamaica Gleaner reports.  The report
relates the company has moved to defend its stewardship,
highlighting that every contract was vetted and signed off by the
Attorney General's Department.

As reported in the Troubled Company Reporter-Latin America on
June 11, 2009,  RadioJamaica said that during a PAC's meeting, an
ex-senior manager of Jamaica Cricket 2007 Limited revealed that
Jamaica has incurred a US$375 million debt from hosting the ICC
Cricket World Cup in 2007.  The report related the debt will have
to be written off.  According to the report, PAC was told that
Jamaica Cricket 2007 cannot honour its obligations to pay off its
loans and efforts are being made to wind it up.  The report
recalled Jamaica Cricket, which was set up five years ago
to steer Jamaica's involvement in the world cup games, is saddled
with debts totalling US$4.2 million.  The figure, RadioJamaica
disclosed, comprises commercial loans that were sought to build a
new cricket stadium and other facilities to host the games.

                       *     *     *

According to Moody's Web site, the country continues to hold
a B1 foreign currency rating and a Ba2 local currency rating.



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

PDVSA: To Issue as Much as US$3 Billion Bonds
---------------------------------------------
Venezuela-based Petroleos de Venezuela SA (PDVSA) plans to sell as
much as US$3 billion in bonds and will make a formal announcement
to that effect soon, Darcy Crowe and Raul Gallegos of Dow Jones
Newswires reports, citing Central Bank President Nelson Merentes.

According to the report, Mr. Merentes said buyers will be able to
acquire the debt paying bolivars, but they will receive dollars
once the debt comes to maturity.

PDVSA's bonds, the repor notes, will not be indexed to the
2.15 bolivar exchange rate.  The report relates bank officials
said buyers will in the end receive actual dollars when the debt
comes to maturity.

Mr. Merentes, DJ Newswires says, noted that no foreign banks are
underwriting or advising PdVSA on the bond sale.

                           About PDVSA

Petroleos de Venezuela -- http://www.pdvsa.com/-- is Venezuela's
state oil company in charge of the development of the petroleum,
petrochemical, and coal industry, as well as planning,
coordinating, supervising, and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jun 16, 2009 Standard & Poor's Ratings Services lowered its long-
term corporate credit rating on Petroleos de Venezuela S.A. to
'B+' from 'BB-'.  The outlook remains negative.



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


* BOND PRICING: For the Week June 22 to June 26, 2009
-----------------------------------------------------

Issuer               Coupon    Maturity   Currency   Price
  ------              ------    --------   --------   -----

ARGENTINA
--------
ALTO PALERMO SA         7.88      5/11/2017    USD    65.43
ARG BODEN                  2      9/30/2014    ARS    68.88
ARG BODEN                  7      10/3/2015    USD     44.9
ARGENT- DIS             5.83      12/31/2033   ARS    67.51
ARGENT-$DIS             8.28      12/31/2033   USD    38.01
ARGENT-$DIS             8.28      12/31/2033   USD    47.22
ARGENT-PAR              1.18      12/31/2038   ARS    19.11
ARGENT-=DIS             7.82      12/31/2033   EUR     38.1
ARGENTINA - NGB            2      2/4/2018     ARS    64.79
ARGNT-BOCON PR11           2      12/3/2010    ARS     32.8
ARGNT-BOCON PR13           2      3/15/2024    ARS    31.22
ARGNT-BOCON PRE8           2      1/3/2010     ARS    35.32
ARGNT-BOCON PRE9           2      3/15/2014    ARS    74.68
AUTOPISTAS DEL S        11.5      5/23/2017    USD    40.84
BANCO HIPOT SA          9.75      4/27/2016    USD    70.09
BANCO MACRO SA           8.5      2/1/2017     USD    74.95
BANCO MACRO SA          9.75      12/18/2036   USD     64.5
BONAR ARG $ V           10.5      6/12/2012    ARS    49.48
BONAR V                    7      3/28/2011    USD    68.14
BONAR VII                  7      9/12/2013    USD    55.34
BONAR X                    7      4/17/2017    USD    56.79
BUENOS AIRE PROV        9.38      9/14/2018    USD    38.43
BUENOS AIRE PROV        9.63      4/18/2028    USD    37.95
BUENOS-$DIS             9.25      4/15/2017    USD    42.94
INDUSTRIAS METAL       11.25      10/22/2014   USD    62.26
INVERS REP Y SOC         8.5      2/2/2017     USD    67.59
MENDOZA PROVINCE         5.5      9/4/2018     USD    54.75
TRANSENER               8.88      12/15/2016   USD    68.14
TRANSPORT DE GAS        7.88      5/14/2017    USD    74.01


BRAZIL
------
COSAN SA INDUSTR        8.25      #N/A N Ap    USD    72.85
COSAN SA INDUSTR        8.25      #N/A N Ap    USD    72.73
REDE EMPRESAS          11.13      #N/A N Ap    USD    50.87
VIGOR                   9.25      2/23/2017    USD    69.75


CAYMAN ISLAND
-------------
AES DOMINICANA            11      12/13/2015   USD    80.75
AIG SUNAMERICA          6.38      10/5/2020    GBP    62.08
ASIF II                 5.13      1/28/2013    GBP    72.75
BANCAJA INTL FIN         5.7      6/30/2022    EUR    56.88
BARION FUNDING          1.44      12/20/2056   GBP    24.91
BARION FUNDING          0.63      12/20/2056   GBP    13.29
BARION FUNDING          0.25      12/20/2056   USD     5.48
BARION FUNDING          0.25      12/20/2056   USD     5.48
BARION FUNDING          0.25      12/20/2056   USD     5.53
BARION FUNDING          0.25      12/20/2056   USD     5.48
BARION FUNDING          0.25      12/20/2056   USD     5.48
BARION FUNDING           0.1      12/20/2056   EUR     4.71
BARION FUNDING          0.25      12/20/2056   USD     5.48
BCP FINANCE CO          4.24      #N/A N Ap    EUR    73.53
BCP FINANCE CO          5.54      #N/A N Ap    EUR    73.95
BES FINANCE LTD         5.58      #N/A N Ap    EUR    74.47
BES FINANCE LTD          4.5      #N/A N Ap    EUR    71.99
CHINA MED TECH             4      8/15/2013    USD     63.9
CHINA PROPERTIES        9.13      5/4/2014     USD    67.61
DUBAI HLDNG COMM        4.75      1/30/2014    EUR    62.56
DUBAI HLDNG COMM           6      2/1/2017     GBP    58.46
DWR CYMRU FIN           4.47      3/31/2057    GBP    66.37
ESFG INTERNATION        5.75      #N/A N Ap    EUR     64.6
GOL FINANCE             8.75      #N/A N Ap    USD    57.46
GOL FINANCE              7.5      4/3/2017     USD    72.51
JA SOLAR HOLD CO         4.5      5/15/2013    USD    75.25
LDK SOLAR CO LTD        4.75      4/15/2013    USD    67.26
LDK SOLAR CO LTD        4.75      4/15/2013    USD       68
MALACHITE FDG           0.63      12/21/2056   EUR    20.07
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.22
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.17
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.17
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.17
MAZARIN FDG LTD         0.63      9/20/2068    GBP     11.2
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.17
MAZARIN FDG LTD         0.25      9/20/2068    USD     4.17
MAZARIN FDG LTD         1.44      9/20/2068    GBP     23.1
MINERVA OVERSE           9.5      2/1/2017     USD    55.38
MINERVA OVERSE           9.5      2/1/2017     USD    54.61
MIZUHO CAP INV 1        6.69      #N/A N Ap    USD    74.04
MUFG CAP FIN 4          5.27      #N/A N Ap    EUR    70.67
MUFG CAP FIN 5           6.3      #N/A N Ap    GBP     71.5
MUFG CAP FIN2           4.85      #N/A N Ap    EUR    69.97
PUBMASTER FIN           5.94      12/30/2024   GBP       67
PUBMASTER FIN           6.96      6/30/2028    GBP    48.35
PUNCH TAVERNS           4.77      6/30/2033    GBP    70.21
REG DIV FUNDING         5.25      1/25/2036    USD    71.67
RESONA PFD GLOB         7.19      #N/A N Ap    USD    70.14
SHINSEI FINANCE         7.16      #N/A N Ap    USD    40.57
SMFG PREFERRED          6.16      #N/A N Ap    GBP    68.86
SUNTECH POWER              3      3/15/2013    USD     75.8
TAM CAPITAL INC         7.38      4/25/2017    USD    73.92
TAM CAPITAL INC         7.38      4/25/2017    USD       75
VESTEL ELEC FIN         8.75      5/9/2012     USD    81.34
XL CAPITAL LTD           6.5      #N/A N Ap    USD    51.04
XL CAPITAL LTD          6.25      5/15/2027    USD     70.9


ECUADOR
-------
REP OF ECUADOR          9.38      12/15/2015   USD    70.71
REP OF ECUADOR          9.38      12/15/2015   USD    69.66


JAMAICA
-------

JAMAICA GOVT             8.5      2/28/2036    USD       67
JAMAICA GOVT               8      3/15/2039    USD    69.25
JAMAICA GOVT           13.38      4/27/2032    JMD    52.65
JAMAICA GOVT LRS          15      9/6/2032     JMD    63.07
JAMAICA GOVT LRS          16      12/6/2032    JMD    63.03
JAMAICA GOVT LRS       16.15      6/21/2022    JMD    68.06
JAMAICA GOVT LRS          16      6/13/2022    JMD    65.55
JAMAICA GOVT LRS       16.15      6/12/2022    JMD    66.16
JAMAICA GOVT LRS       12.85      5/31/2022    JMD    53.33
JAMAICA GOVT LRS       16.25      5/22/2022    JMD    72.46
JAMAICA GOVT LRS       13.38      12/15/2021   JMD     55.8
JAMAICA GOVT LRS          15      11/15/2021   JMD    62.11
JAMAICA GOVT LRS          14      6/30/2021    JMD    58.67
JAMAICA GOVT LRS       15.75      8/22/2019    JMD    67.07
JAMAICA GOVT LRS        14.5      8/2/2017     JMD    69.86
JAMAICA GOVT LRS        14.5      6/28/2017    JMD    67.38
JAMAICA GOVT LRS        15.8      6/26/2017    JMD    72.09
JAMAICA GOVT LRS          15      7/31/2016    JMD    70.05
JAMAICA GOVT LRS          16      5/17/2017    JMD    71.29
JAMAICA GOVT LRS       14.38      9/6/2014     JMD    72.57
JAMAICA GOVT LRS       14.25      8/19/2015    JMD    73.05
JAMAICA GOVT LRS       14.38      6/28/2014    JMD     73.2
JAMAICA GOVT LRS          15      7/31/2014    JMD    74.63
JAMAICA GOVT LRS       14.38      5/30/2014    JMD    74.63
JAMAICA GOVT LRS       13.63      6/23/2014    JMD    71.09
JAMAICA GOVT LRS         7.5      10/6/2012    JMD    64.84
JAMAICA GOVT LRS       12.75      6/29/2022    JMD    52.94
JAMAICA GOVT LRS          17      7/11/2023    JMD    68.67
JAMAICA GOVT LRS       13.58      12/15/2026   JMD    53.59
JAMAICA GOVT LRS       16.25      5/22/2027    JMD    64.09
JAMAICA GOVT LRS        16.5      6/14/2027    JMD    65.09
JAMAICA GOVT LRS       16.25      6/18/2027    JMD    70.32
JAMAICA GOVT LRS        14.4      8/3/2027     JMD    58.55
JAMAICA GOVT LRS        15.5      3/24/2028    JMD    61.08
JAMAICA GOVT LRS       16.25      7/26/2032    JMD    63.97
JAMAICA GOVT LRS       16.13      8/21/2032    JMD    65.48
JAMAICA GOVT LRS       16.25      8/26/2032    JMD    65.99
JAMAICA GOVT LRS          15      8/30/2032    JMD    60.96
JAMAICA GOVT LRS       14.38      5/3/2014     JMD    74.85
JAMAICA GOVT LRS       12.75      6/29/2022    JMD    52.92

PUERTO RICO
-----------
DORAL FINL CORP            7      4/26/2012    USD    54.63
DORAL FINL CORP         7.65      3/26/2016    USD    57.63
DORAL FINL CORP          7.1      4/26/2017    USD    54.25
DORAL FINL CORP         7.15      4/26/2022    USD    49.63
PUERTO RICO GNMA        5.75      4/1/2021     USD    71.56


URUGUAY
--------
URUGUAY                  3.7      6/26/2037    UYU    69.58


VENEZUELA
---------
PETROLEOS DE VEN        5.38      4/12/2027    USD    40.08
PETROLEOS DE VEN         5.5      4/12/2037    USD    39.89
PETROLEOS DE VEN        5.25      4/12/2017    USD    47.33
VENEZUELA                  7      12/1/2018    USD     57.9
VENEZUELA                  6      12/9/2020    USD    49.69
VENEZUELA                  9      5/7/2023     USD    61.91
VENEZUELA               7.65      4/21/2025    USD    53.16
VENEZUELA               9.25      9/15/2027    USD    67.59
VENEZUELA               9.25      5/7/2028     USD    61.47
VENEZUELA               5.75      2/26/2016    USD    57.71
VENEZUELA                  7      3/31/2038    USD    48.87
VENEZUELA                8.5      10/8/2014    USD    71.17
VENEZUELA                  7      3/16/2015    EUR    64.14
VENEZUELA                  7      3/16/2015    EUR    64.94
VENZOD - 189000         9.38      1/13/2034    USD    62.52



                            ***********

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 * * *