TCRLA_Public/091201.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

           Tuesday, December 1, 2009, Vol. 10, No. 237

                            Headlines

A R G E N T I N A

AMERICAN STAR: Creditors' Proofs of Debt Due on March 1
AMR ARGENTINA: Creditors' Proofs of Debt Due on February 26
ARGENTINA DE HOTELES: Creditors' Proofs of Debt Due on February 19
CENTRO PRIVADO: Asks for Preventive Contest
FOR EXPORT: Creditors' Proofs of Debt Due on February 11

GRUPO LOGISTICO: Creditors' Proofs of Debt Due on February 19
IBERICA CONSULTING: Creditors' Proofs of Debt Due on February 3
MONITA LUCIA: Asks for Preventive Contest
R W VOLCKMANN: Creditors' Proofs of Debt Due on February 3
SOLUCIONES INTEGRALES: Creditors' Proofs of Debt Due on March 1


B A R B A D O S

AIC BARBADOS: May Need Another Deadline Extension for Payment


B E R M U D A

CIRRUS COMPANY: Creditors' Proofs of Debt Due on December 4
CIRRUS COMPANY: Members to Receive Wind-Up Report on December 23
MAN GLENWOOD: Creditors' Proofs of Debt Due on December 4
MAN GLENWOOD: Members to Receive Wind-Up Report on January 14
NEW HIBERNIA: Creditors' Proofs of Debt Due on December 4

NEW HIBERNIA: Members to Receive Wind-Up Report on December 22
PLM WORLDWIDE: Creditors' Proofs of Debt Due on December 4
PLM WORLDWIDE: Sole Member to Receive Wind-Up Report on Dec. 21
REVLON EUROPE: Creditors' Proofs of Debt Due on December 4
REVLON EUROPE: Members to Receive Wind-Up Report on December 23

TRANSPORT-PROVIDER: Creditors' Proofs of Debt Due on December 4
TRANSPORT-PROVIDER: Member to Receive Wind-Up Report on Dec. 21


B R A Z I L

BRASKEM SA: Participates in Tax Debit Repayment Program
GERDAU SA: To Focus Growth in Brazil, CEO Says
* BRAZIL: Posted BRL1 Billion October Budget Deficit


C A Y M A N  I S L A N D S

BASALT INVESTMENTS: Sole Shareholder Receives Wind-Up Report
CARASIA INCOME: Shareholders Receive Wind-Up Report
CASTLEHILL LIMITED: Members Receive Wind-Up Report
GOROH LTD: Members Receive Wind-Up Report
HELIUM CAPITAL: S&P Puts 'BB-' Rating on EUR4.5 Mil. Notes

LESLI LIMITED: Members Receive Wind-Up Report
LINCOLN PARK: Shareholders Receive Wind-Up Report
LUCERNE MID-CAP: Shareholders Receive Wind-Up Report
LUCERNE MID-CAP: Shareholders Receive Wind-Up Report
LUCERNE NORDIC: Shareholders Receive Wind-Up Report

LUCERNE NORDIC: Shareholders Receive Wind-Up Report
MARLEBONE INVESTMENTS: Members Receive Wind-Up Report
MITA HOLDING: Shareholders Receive Wind-Up Report
MODE INVESTMENT: Members to Receive Wind-Up Report on December 30
OAKBROOK INVESTMENTS: Members Receive Wind-Up Report

OLD DOMINION: Members to Receive Wind-Up Report on December 11
PARTNER RE: Shareholders Receive Wind-Up Report
POSITIVE FUND: Members to Receive Wind-Up Report on December 18
RAB DIVERSIFIED: Shareholders Receive Wind-Up Report
RIGHT CHANCE: Members Receive Wind-Up Report

SESAME LIMITED: Members Receive Wind-Up Report
SIVIK GLOBAL: Shareholder Receives Wind-Up Report
SUCCESSOR I: Shareholder Receives Wind-Up Report
SUCCESSOR III: Shareholder Receives Wind-Up Report
SUCCESSOR IV: Shareholder Receives Wind-Up Report

SUCCESSOR V: Shareholder Receives Wind-Up Report
SUCCESSOR CAL: Shareholder Receives Wind-Up Report
SUCCESSOR EURO: Shareholder Receives Wind-Up Report
SUCCESSOR HURRICANE: Shareholder Receives Wind-Up Report
SUCCESSOR JAPAN: Shareholder Receives Wind-Up Report

TOSCANINI LIMITED: Members Receive Wind-Up Report


C O L O M B I A

BANCOLOMBIA SA: Works W/ Actimize for Fraud Management Program
ECOPETROL SA: Confirms CB&I as Contractor for Cartagena Refinery


J A M A I C A

AIR JAMAICA: BITU Calls Flight Attendants to Meetings
CHURCHES COOPERATIVE: Waives December Principal
JOBQUEST INTERNATIONAL: Assures Clients It Is "Not Closing Down"
SUGAR COMPANY: Government to Receive Word From Eridania Suisse


M E X I C O

CIMINO BROKERAGE: Files for Chapter 11 in San Jose


P E R U

* PERU: Economy Shrank 0.6% in Third Quarter


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Clico Insurance to Close Cayman Branch

V E N E Z U E L A


PETROLEOS DE VENEZUELA: Still Settling Payables to Providers
* VENEZUELA: Pres. Chavez Threatens to Nationalize Local Banks


X X X X X X X X

* Large Companies With Insolvent Balance Sheets


                         - - - - -


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


AMERICAN STAR: Creditors' Proofs of Debt Due on March 1
-------------------------------------------------------
The court-appointed trustee for American Star S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
March 1, 2010.

The trustee will present the validated claims in court as
individual reports on April 15, 2010.  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
May 28, 2010.


AMR ARGENTINA: Creditors' Proofs of Debt Due on February 26
-----------------------------------------------------------
The court-appointed trustee for A.M.R. Argentina S.A.'s
reorganization proceedings, will be verifying creditors' proofs of
claim until February 26, 2010.

The trustee will present the validated claims in court as
individual reports on March 12, 2010.  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
April 29, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on October 18, 2010.


ARGENTINA DE HOTELES: Creditors' Proofs of Debt Due on February 19
------------------------------------------------------------------
Miriam De Luca, the court-appointed trustee for Argentina de
Hoteles SA's reorganization proceedings, will be verifying
creditors' proofs of claim until February 19, 2010.

Ms. De Luca will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 14 in Buenos Aires, with the assistance of Clerk
No. 28, 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.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
November 22, 2010.

The Trustee can be reached at:

          Miriam De Luca
          Viamonte 785
          Argentina


CENTRO PRIVADO: Asks for Preventive Contest
-------------------------------------------
Centro Privado de Salud Mental SRL asks for preventive contest.


FOR EXPORT: Creditors' Proofs of Debt Due on February 11
--------------------------------------------------------
The court-appointed trustee for For Export International Corp
S.A.'s bankruptcy proceedings, will be verifying creditors' proofs
of claim until February 11, 2010.

The trustee will present the validated claims in court as
individual reports on March 29, 2010.  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
May 14, 2010.


GRUPO LOGISTICO: Creditors' Proofs of Debt Due on February 19
-------------------------------------------------------------
The court-appointed trustee for Grupo Logistico S.R.L.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until February 19, 2010.

The trustee will present the validated claims in court as
individual reports on April 7, 2010.  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
May 19, 2010.


IBERICA CONSULTING: Creditors' Proofs of Debt Due on February 3
---------------------------------------------------------------
Diana Ines Panitch, the court-appointed trustee for Iberica
Consulting Group SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until February 3, 2010.

Ms. Panitch will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 22 in Buenos Aires, with the assistance of Clerk
No. 43, 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:

          Diana Ines Panitch
          Avenida Corrientes 1250
          Argentina


MONITA LUCIA: Asks for Preventive Contest
-----------------------------------------
Monita Lucia SA asked for preventive contest.

The company stopped making payments last April 30.


R W VOLCKMANN: Creditors' Proofs of Debt Due on February 3
----------------------------------------------------------
The court-appointed trustee for R. W. Volckmann S.A.'s
reorganization proceedings, will be verifying creditors' proofs of
claim until February 3, 2010.


SOLUCIONES INTEGRALES: Creditors' Proofs of Debt Due on March 1
---------------------------------------------------------------
Estudio Basile-Cejas, the court-appointed trustee for Soluciones
Integrales Corporativas SA's reorganization proceedings, will be
verifying creditors' proofs of claim until March 1, 2010.

The trustee 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.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
November 19, 2010.

The Trustee can be reached at:

          Estudio Basile-Cejas
          Lavalle 1334
          Argentina


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


AIC BARBADOS: May Need Another Deadline Extension for Payment
-------------------------------------------------------------
AIC Barbados Limited's bondholders are set to meet on December 4
as signs have emerged that the Michael Lee-Chin led company may
not meet its deadline to repay debts, RadioJamaica reports.  The
report relates that the bondholders were expecting to get back the
near US$50 million they invested on November 27, but an unnamed
source said that the investors have been called to the meeting
amid reports that AIC will only be making interest payments on
that date.

According to the report, the bondholders will discuss two
proposals presented by AIC on the repayment of the principal:

   -- to take 30% of the principal now and the balance over two
      years; and

   -- to take enforcement and have the shares on certain assets
      that have been pledged, transferred to the bondholders.

RadioJamaica says that the unnamed source said that the setback
appears to have resulted from challenges the company is facing in
raising funds to make payments.

As reported in the Troubled Company Reporter-Latin America on
October 1, 2009, RadioJamaica said that AIC Barbados Chairman
Michael Lee Chin said he is confident that the company will meet
the November deadline to repay its bondholders.  According to the
report, Mr. Chin said the company's liquidity position has
improved and the company is in a better position to fulfill its
obligations.  The November 27 deadline to make payments is
definitely on, he added.  "My reputation is what is paramount so,
we'll do everything to make sure that it happens without a further
extension.  What happened with the extensions wouldn't have
happened any where else in the world and for that, I'm happy that
this situation happened to me in Jamaica, the report quoted Mr.
Chin as saying.  "Note holders had a lot of trust in us because of
the reputation that we have in Jamaica. The note holders are well
collateralized and they're getting premium interest so, it's been
a win, win situation," said Mr. Lee Chin added.

                        About AIC Barbados

AIC Barbados Limited, which is valued at more than US$1 billion,
comprises several Caribbean holdings including Jamaica's largest
deposit taking institution the National Commercial Bank.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 8, 2009, RadioJamica said AIC Barbados asked its creditors
for another extension to make payments on maturing instruments as
divestment of the sale of assets in its portfolio is taking longer
than expected.  The Jamaica Gleaner related Mr. Lee-Chin is
selling his Pan Caribbean fibre optic cable business, Columbus
Communications, to pay off the debt.  According to Jamaica
Gleaner, Mr. Chin failed to come up with the US$155 million
(J$13.8 billion) that AIC Barbados owes bond holders.  The Gleaner
related that based on an internal document, about US$108 million
of the debt is owed to Jamaican investors, of which US$47 million
is due this year.  Mr. Lee Chin, The Gleaner said, was already
granted one extension to June 11 to repay the bonds, however, he
asked investors again to extend the wait to November.


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


CIRRUS COMPANY: Creditors' Proofs of Debt Due on December 4
-----------------------------------------------------------
The creditors of Cirrus Company Limited are required to file their
proofs of debt by December 4, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 18, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


CIRRUS COMPANY: Members to Receive Wind-Up Report on December 23
----------------------------------------------------------------
The members of Cirrus Company Limited will receive, on
December 23, 2009, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 18, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


MAN GLENWOOD: Creditors' Proofs of Debt Due on December 4
---------------------------------------------------------
The creditors of Man Glenwood Multi-Strategy GB Ltd are required
to file their proofs of debt by December 4, 2009, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on November 19, 2009.

The company's liquidator is:

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


MAN GLENWOOD: Members to Receive Wind-Up Report on January 14
-------------------------------------------------------------
The members of Man Glenwood Multi-Strategy GB Ltd will receive, on
January 14, 2009, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 19, 2009.

The company's liquidator is:

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


NEW HIBERNIA: Creditors' Proofs of Debt Due on December 4
---------------------------------------------------------
The creditors of New Hibernia Investments Limited are required to
file their proofs of debt by December 4, 2009, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on November 19, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


NEW HIBERNIA: Members to Receive Wind-Up Report on December 22
--------------------------------------------------------------
The members of New Hibernia Investments Limited will receive, on
December 22, 2009, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 19, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


PLM WORLDWIDE: Creditors' Proofs of Debt Due on December 4
----------------------------------------------------------
The creditors of PLM Worldwide Management Services Limited are
required to file their proofs of debt by December 4, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on November 17, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Milner House, 18 Parliament Street
          Hamilton, Bermuda


PLM WORLDWIDE: Sole Member to Receive Wind-Up Report on Dec. 21
---------------------------------------------------------------
The sole member of PLM Worldwide Management Services Limited will
receive, on December 21, 2009, at 10:00 a.m., the liquidator's
report on the company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 17, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Milner House, 18 Parliament Street
          Hamilton, Bermuda


REVLON EUROPE: Creditors' Proofs of Debt Due on December 4
----------------------------------------------------------
The creditors of Revlon Europe, Middle East and Africa Ltd. are
required to file their proofs of debt by December 4, 2009, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on November 18, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


REVLON EUROPE: Members to Receive Wind-Up Report on December 23
---------------------------------------------------------------
The members of Revlon Europe, Middle East and Africa Ltd. will
receive, on December 23, 2009, at 9:30 a.m., the liquidator's
report on the company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 18, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


TRANSPORT-PROVIDER: Creditors' Proofs of Debt Due on December 4
---------------------------------------------------------------
The creditors of Transport-Provider Ltd. are required to file
their proofs of debt by December 4, 2009, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 6, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Milner House, 18 Parliament Street
          Hamilton, Bermuda


TRANSPORT-PROVIDER: Member to Receive Wind-Up Report on Dec. 21
---------------------------------------------------------------
The sole member of Transport-Provider Ltd. will receive, on
December 21, 2009, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on November 6, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Milner House, 18 Parliament Street
          Hamilton, Bermuda


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


BRASKEM SA: Participates in Tax Debit Repayment Program
-------------------------------------------------------
Braskem SA said its management has decided to include under the
Tax Debit Repayment Program offered by the Office of the General
Counsel to the National Treasury and the Internal Revenue Service
the pending administrative procedures and lawsuits in which it
claims:

   (i) the right to IPI (federal VAT) tax credits on purchases of
       raw materials subject to a zero tax rate ("Zero IPI"),

  (ii) the benefits from the IPI Premium tax credits on export
       transactions ("IPI Premium"), and

(iii) the res judicata effect that exempts Braskem from paying
       Social Contribution on Profit ("CSSL").

The total amount of the debits included in the repayment program
is approximately R$1.9 billion, given that the Company chose to
pay in 12 monthly installments the Zero IPI and the IPI Premium,
in the amount of R$1.1 billion, and the CSSL within 180 months, in
the amount of R$795 million.

Management's decision was based on the very attractive benefits
introduced by Executive Order 470 and Federal Law 11,941/2009,
which include up to 90% reduction in interest payments and 100%
reduction in penalties, as well as the possibility of using
accrued tax losses as currency for payment, which in Braskem's
case represents an average discount of 70% on the total amount
disputed.

Management's decision also took into account the complexity of the
matters that are the object of the administrative processes and
lawsuits described above.

With this decision, Braskem concludes its most relevant lawsuits
without compromising its financial strength.

                          About Braskem

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 November 10, 2009, the company continues to carry Moody's
Ba1 rating.  The company also continues to carry Fitch ratings'
BB+ LT Issuer Default ratings and Senior Unsecured Debt rating.


GERDAU SA: To Focus Growth in Brazil, CEO Says
----------------------------------------------
Gerdau SA will focus growth in Brazil where investment in
infrastructure is surging, Guillermo Parra-Bernal at Reuters
reports, citing Chief Executive Andre Gerdau Johannpeter in an
interview with O Estado de S. Paulo newspaper.

According to the report, Mr. Johannpeter told Estado newspaper
that the overseas acquisition drive that he has presided over
since taking over in 2007 was the right decision, but that Brazil
currently offers the best growth prospects along Gerdau's markets.
The report, citing the local newspaper, relates Mr. Johannpeter
said it was unlikely that the largest Brazilian steel companies
seek to combine operations at this point because "all of them are
growing well."

Bloomberg News notes that Mr. Johannpeter said expansion in China
could happen if the company finds the "right partner."  New
investments in the United States may only take place once the
economy there is fully recovered from the impact of the credit
crisis, he added.

Reuters says that Gerdau SA has been grappling with declining
activity as a recession in key markets such as the United States
and Spain has curbed demand.

                         About Gerdau SA

Headquartered in Porto Alegre, Brazil, Gerdau S.A. --
http://www.gerdau.com.br/-- produces and distributes crude
steel and related long rolled products, drawn products, and long
specialty products.  In addition to Brazil, Gerdau operates in
Argentina, Canada, Chile, Colombia, Uruguay, India and the
United States.

                           *     *     *

As of June 19, 2009, the company continues to carry Moody's Ba1 LT
Corp Family rating and Ba1 Senior Unsecured Debt Ratings.


* BRAZIL: Posted BRL1 Billion October Budget Deficit
----------------------------------------------------
Iuri Dantas and Maria Luiza Rabello at Bloomberg News report that
Brazil posted a budget deficit for a 12th straight month in
October as the government increased spending and cut taxes in a
bid to stoke growth in the economy.

According to the report, the central bank said that the deficit,
including the federal government, local governments and state
companies, narrowed to BRL1 billion (US$578 million) last month
from BRL22.4 billion in September.  Economists expected a BRL4.03
billion surplus, according to the median forecast in a Bloomberg
survey.

The report notes that the government increased spending 16.5% in
the first 10 months of 2009 compared with last year as President
Luiz Inacio Lula da Silva seeks to fuel the economy’s recovery
from its first recession since 2003.  Bloomberg News relates that
Jankiel Santos, chief economist at BES Investimento, said that an
increase in tax revenue last month to a high for 2009, buoyed by
extraordinary items, played the biggest role in paring the
deficit.   “The figures were expected after extraordinary revenue,
though the government didn’t make any fiscal effort,” Mr. Santos
told the news agency in a telephone interview.

The central bank, the report relates, said that Brazil posted a
primary budget surplus of BRL13.8 billion last month.  Economists
expected a 14 billion real surplus, according to the median of 17
forecasts compiled by Bloomberg.

The report adds that the country's net debt-to-gross domestic
product ratio fell to 44.8% in October from 44.9% in September.
Economists expected net debt-to-GDP to fall to 44.7%, according to
the median of 10 forecasts compiled by Bloomberg.

                         *     *     *

Brazil continues to carry Moody's Rating Agency's "Ba1" local and
foreign currency ratings.


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


BASALT INVESTMENTS: Sole Shareholder Receives Wind-Up Report
------------------------------------------------------------
On November 26, 2009, the sole shareholder of Basalt Investments,
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Ogier
          c/o Shameer Jasani
          Telephone: (345) 815 1802
          Facsimile: (345) 949 1986


CARASIA INCOME: Shareholders Receive Wind-Up Report
---------------------------------------------------
On November 30, 2009, the shareholders of Carasia Income
Management received the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

          Patrick Shaunessy
          The Crighton Building, Suite 201
          256 Crewe Road, P.O. Box 1166
          Grand Cayman KY1-1102


CASTLEHILL LIMITED: Members Receive Wind-Up Report
--------------------------------------------------
On November 10, 2009, the members of Castlehill Limited received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


GOROH LTD: Members Receive Wind-Up Report
-----------------------------------------
On November 10, 2009, the members of Goroh Ltd received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


HELIUM CAPITAL: S&P Puts 'BB-' Rating on EUR4.5 Mil. Notes
----------------------------------------------------------
Standard & Poor's Ratings Services placed on CreditWatch negative
its 'BB-' credit rating on Helium Capital Ltd.'s EUR4.5 million
secured fixed-rate notes, series 37.

The rating action follows a recent rating change on the underlying
collateral in the transaction, to which series 37 is weak-linked.


LESLI LIMITED: Members Receive Wind-Up Report
---------------------------------------------
On November 10, 2009, the members of Lesli Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


LINCOLN PARK: Shareholders Receive Wind-Up Report
-------------------------------------------------
On November 27, 2009, the shareholders of Lincoln Park received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


LUCERNE MID-CAP: Shareholders Receive Wind-Up Report
----------------------------------------------------
On November 27, 2009, the shareholders of The Lucerne Mid-Cap
Offshore Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


LUCERNE MID-CAP: Shareholders Receive Wind-Up Report
---------------------------------------------------
On November 27, 2009, the shareholders of The Lucerne Mid-Cap
Master Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


LUCERNE NORDIC: Shareholders Receive Wind-Up Report
---------------------------------------------------
On November 27, 2009, the shareholders of The Lucerne Nordic Fund,
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


LUCERNE NORDIC: Shareholders Receive Wind-Up Report
---------------------------------------------------
On November 27, 2009, the shareholders of The Lucerne Nordic
Master Fund, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


MARLEBONE INVESTMENTS: Members Receive Wind-Up Report
-----------------------------------------------------
On November 10, 2009, the members of Marlebone Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


MITA HOLDING: Shareholders Receive Wind-Up Report
-------------------------------------------------
On November 27, 2009, the shareholders of Mita Holding, Inc.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


MODE INVESTMENT: Members to Receive Wind-Up Report on December 30
-----------------------------------------------------------------
The members of Mode Investment Ltd. will receive, on December 30,
2009, at 12:00 noon, the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          MBT Trustees Ltd.
          Telephone: 945-8859
          Facsimile: 949-9793/4
          P.O. Box 30622, Grand Cayman KY1-1203
          Cayman Islands


OAKBROOK INVESTMENTS: Members Receive Wind-Up Report
----------------------------------------------------
On November 10, 2009, the members of Oakbrook Investments Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


OLD DOMINION: Members to Receive Wind-Up Report on December 11
--------------------------------------------------------------
The members of Old Dominion Ltd. will receive, on December 11,
2009, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          Ian Stokoe
          c/o Sarah Moxam
          Telephone: (345) 914 8634
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


PARTNER RE: Shareholders Receive Wind-Up Report
-----------------------------------------------
On November 27, 2009, the shareholders of Partner Re Feeder Fund
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


POSITIVE FUND: Members to Receive Wind-Up Report on December 18
---------------------------------------------------------------
The members of The Positive Fund SPC will receive, on December 18,
2009, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          David A.K. Walker
          c/o Jodi Jones
          Telephone: (345) 914 8694
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


RAB DIVERSIFIED: Shareholders Receive Wind-Up Report
----------------------------------------------------
On November 27, 2009, the shareholders of Rab Diversified
Commodities (Master) Fund Limited received the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Avalon Management Limited
          Landmark Square, 1st Floor
          64 Earth Close, West Bay Beach
          P.O. Box 715, Grand Cayman KY1-1107
          Cayman Islands
          Facsimile: 1 345 769-9351


RIGHT CHANCE: Members Receive Wind-Up Report
--------------------------------------------
On November 10, 2009, the members of Right Chance Limited received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


SESAME LIMITED: Members Receive Wind-Up Report
----------------------------------------------
On November 10, 2009, the members of Sesame Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


SIVIK GLOBAL: Shareholder Receives Wind-Up Report
-------------------------------------------------
On November 30, 2009, the shareholder of Sivik Global Healthcare
Long Fund Offshore received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Norman Schleifer
          Sivik Global Healthcare LLC
          733 Third Avenue, 18th Floor
          New York, NY 10017


SUCCESSOR I: Shareholder Receives Wind-Up Report
------------------------------------------------
On November 27, 2009, the shareholder of Successor I Ltd received
the liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR III: Shareholder Receives Wind-Up Report
--------------------------------------------------
On November 27, 2009, the shareholder of Successor III Ltd
received the liquidators' report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR IV: Shareholder Receives Wind-Up Report
-------------------------------------------------
On November 27, 2009, the shareholder of Successor IV Ltd received
the liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR V: Shareholder Receives Wind-Up Report
------------------------------------------------
On November 27, 2009, the shareholder of Successor V Ltd received
the liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR CAL: Shareholder Receives Wind-Up Report
--------------------------------------------------
On November 27, 2009, the shareholder of Successor Cal Quake
Industry Ltd received the liquidators' report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR EURO: Shareholder Receives Wind-Up Report
---------------------------------------------------
On November 27, 2009, the shareholder of Successor Euro Wind Ltd
received the liquidators' report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR HURRICANE: Shareholder Receives Wind-Up Report
--------------------------------------------------------
On November 27, 2009, the shareholder of Successor Hurricane
Modeled Ltd received the liquidators' report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR JAPAN: Shareholder Receives Wind-Up Report
----------------------------------------------------
On November 27, 2009, the shareholder of Successor Japan Quake Ltd
received the liquidators' report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Scott Aitken
          Connan Hill
          c/o Sylvia Lewis
          Telephone: 949-7755
          Facsimile: 949-7634
          P.O. Box 1109, Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 949-7755
          Facsimile: 949-7634


TOSCANINI LIMITED: Members Receive Wind-Up Report
-------------------------------------------------
On November 10, 2009, the members of Toscanini Limited received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town, Grand Cayman


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


BANCOLOMBIA SA: Works W/ Actimize for Fraud Management Program
--------------------------------------------------------------
Actimize, a NICE Systems company, and Unisys Corporation disclosed
that Bancolombia is working with both firms to strengthen its
ability to fight fraud across the entire bank. Bancolombia is
implementing Actimize ATM/Debit, Remote Banking, Wire & ACH Fraud
prevention solutions.  As a strategic Actimize partner, Unisys is
working on deployment of the solutions.

As a leader in the Colombian market, Bancolombia strives to best
protect customer and firm assets by combating the threat of fraud
across all its lines of business.  Once deployed, the Actimize
suite of fraud prevention solutions will monitor all types of
transactions enterprise-wide, alerting on suspicious behavior and
blocking truly risky transactions.

"We performed an exhaustive review of all the top fraud prevention
solutions in the market, looking for a single vendor who can cover
our entire enterprise fraud needs," said Joaquin Fernando Yepes,
IT security and compliance director at Bancolombia.  "Actimize
solutions and Unisys services are a major component of
Bancolombia's strategy to provide greater levels of security to
our customers."

Financial institutions are being confronted with new types of
fraud attacks on a daily basis.  In the past, fraud criminals
typically specialized in a single channel, but now high loss fraud
events increasingly incorporate multiple channels.  The Actimize
enterprise-wide fraud solution suite protects across all channels,
from ATM/Debit cards, remote banking, deposit, electronic payment
and more. Additionally, Actimize solutions monitor many types of
employee behavior, looking for and alerting investigators to
suspicious activities.

"Fraud is a global problem that has no boundaries," said Amir
Orad, executive vice president and chief marketing officer at
Actimize.  "Our strategic partnership with Unisys helps Actimize
ensure quality deployments around the globe.  Our cross-channel
financial crime prevention solutions are today used by firms
around the world because they scale to meet the challenges faced
by large, complex enterprises while maintaining the flexibility to
exceed group level and individual expectations."

                        About Actimize

Actimize -- http://www.actimize.com/-- a NICE Systems company, is
the world's largest and broadest provider of a single financial
crime, risk and compliance software platform for the financial
services industry.  Actimize empowers its clients to prevent
financial crime, mitigate risk, reduce operational costs, minimize
losses and improve compliance. Actimize provides real-time and
cross-channel fraud prevention, anti-money laundering, enterprise
investigations, risk management and trading surveillance
solutions; built upon the Actimize Core Platform which has been
enhanced by the company's acquisitions of Syfact and Fortent
(Searchspace) analytics and technology.  With offices across North
America, Europe, and Asia, Actimize serves more than 200 clients
globally including all of the world's 10 largest financial
institutions.

                        About NICE Systems

NICE Systems -- http://www.nice.com/-- is the leading provider of
Insight from Interactions(TM) solutions and value-added services,
powered by the convergence of advanced analytics of unstructured
multimedia content and transactional data - from telephony, web,
email, radio, video, and other data sources. NICE's solutions
address the needs of the enterprise and security markets, enabling
organizations to operate in an insightful and proactive manner,
and take immediate action to improve business and operational
performance and ensure safety and security.  NICE has over 24,000
customers in more than 150 countries, including over 85 of the
Fortune 100 companies.

                    About Bancolombia S.A.

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.

                           *     *     *

In May 2009, Moody's Investors Service upgraded from D to D+,
Bancolombia S.A.'s financial strength rating.  The outlook on the
BFSR was changed to "stable", from "positive".  Bancolombia's
long-term and short-term local currency deposit ratings of "Baa2"
and "Prime- 3", as well as the long-term and short-term foreign
currency deposit ratings of "Ba2" and "Not Prime" were affirmed by
Moody's.  Bancolombia's foreign currency subordinated debt rating
of"Baa3" was also affirmed with a stable outlook by the rating
firm.

Fitch Ratings affirmed on June 2009 Bancolombia's long- and short-
term Issuer Default Ratings and outstanding debt ratings as
follows: Long-term foreign currency IDR at 'BB+'; Short-term
foreign currency IDR at 'B'; Long-term local currency IDR at
'BB+'; Short-term local currency IDR at 'B'; Individual at 'C/D';
Support at '3'; Support Floor at 'BB-'.  At the same time the
rating for Bancolombia's subordinated debt maturing May 2017 was
affirmed at 'BB'. The Rating Outlook is Stable.


ECOPETROL SA: Confirms CB&I as Contractor for Cartagena Refinery
----------------------------------------------------------------
Ecopetrol S.A. (NYSE: EC) said its subsidiary, Refineria de
Cartagena S.A., on November 25, 2009, appointed Chicago, Bridge &
Iron (CB&I) as the leading contractor for the expansion of the
Cartagena Refinery.

Ecopetrol S.A. -- http://www.ecopetrol.com.co.-- is the largest
company in Colombia as measured by revenue, profit, assets and
shareholders' equity.  The company is Colombia's only vertically
integrated crude oil and natural gas company with operations in
Colombia and overseas.  Ecopetrol is one of the 40 largest
petroleum companies in the world and one of the four principal
petroleum companies in Latin America.  It is majority owned by the
Republic of Colombia and its shares trade on the Bolsa de Valores
de Colombia S.A. under the symbol ECOPETROL. Colombia owns 90% of
Ecopetrol.  The company divides its operations into four business
segments that include exploration and production; transportation;
refining; and marketing of crude oil, natural gas and refined-
products.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 15, 2009, Fitch Ratings assigned a 'BB+' rating to Ecopetrol
S.A.'s proposed issuance of at least US$1 billion senior unsecured
notes due 2019.  Proceeds will be used for investments and general
corporate purposes.

According to Moody's Investors Service, Venezuela continues to
carry a B2 foreign currency rating and a B1 local currency rating
with stable outlook.

As reported in the Troubled Company Reporter-Latin America on
September 7, 2009, Fitch Ratings affirmed Colombia's sovereign
ratings:

  -- Long-term foreign currency Issuer Default Rating at 'BB+';
  -- Short-term foreign currency IDR at 'B';
  -- Long-term local currency IDR at 'BBB-';
  -- Outstanding senior unsecured debt at 'BB+';
  -- Country ceiling at 'BBB-'.


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


AIR JAMAICA: BITU Calls Flight Attendants to Meetings
-----------------------------------------------------
The Bustamante Industrial Trade Union, the union representing most
of Air Jamaica Limited's employees, met the airline's flight
attendants in two separate meetings to discuss new proposals to
save the latter's jobs as the airline continues to cut its
operational expenses, RadioJamaica reports.

According to the report, the first meeting was scheduled in the
afternoon of November 27 in Montego Bay, St. James; while the
second meeting was held at in Kingston in the evening.

"We had an agreement with the company that saved the jobs of
flight attendants from lay offs (but) that agreement expired in
November, so what we're now trying to do is get an extension of
that agreement.  We meet with the company on [November 24] and put
forward several proposals and we're to meet again come
[November 30] but we have to meet with our membership to update
them on the status of those discussions," Mr. Gayle said.

Bustamante Industrial Trade Union represents 300 flight attendants
at Air 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 in the Troubled Company Reporter-Latin America on
November 5, 2009, Standard & Poor's Ratings Services said that it
lowered its long-term corporate credit rating on Air Jamaica Ltd.
to 'CCC' from 'CCC+'.  The outlook is negative.


CHURCHES COOPERATIVE: Waives December Principal
-----------------------------------------------
Churches Cooperative Credit Union Limited (CCCU) said it will free
its members from making loan payments in December, RadioJamaica
reports.  The report relates that the company said the waiver
would apply only to principal payments on both secured and
unsecured loans, and is available only to members who are up to
date on servicing their debt.

"Many of our members have dealt with unprecedented financial
challenges this year and even without a recession, December is
always a month where there are increasing demands on personal
spending, so we are offering a loan moratorium to ease some of the
pressure we know our members are facing," Janyce Robinson,
assistant general manager in charge of credit administration and
operations, in a company statement obtained by the news agency.

According to the report, the company move follows adjustments on
the pricing of the credit union's car loans, which starts at
19.95% interest and a 50% cut in processing fees.

CCCU has a membership base of 115,000.


JOBQUEST INTERNATIONAL: Assures Clients It Is "Not Closing Down"
----------------------------------------------------------------
Jobquest International seeks to assure its clients it is not
closing down operations, RadioJamaica reports, citing a company
statement.  The report says the company is in the process of
relocating.  The report relates Jobquest will make a disclosure as
soon as the new office is established.

According to the report, scores of clients stormed Jobquest's
Kingston offices last month demanding that they be refunded their
registration fees as the company had not succeeded in finding jobs
for them.  The report relates that the company said it is
currently working on its finances in order to ensure that all
creditors are paid.

RadioJamaica says that some persons have already received
registered mail outlining the payment schedule and clients who
have not yet received a letter should check with their local post
office.

The company, the report points out, insisted that it has had
proven success in linking Jamaicans with employers in several
countries, including the United State, United Kingdom, Singapore
and Canada.

Last month, the RadioJamaica recalls, Christine Kelly, Jobquest
Managing Director, said that the company had run into problems as
a result of the refusal of overseas employers to pay for the H2B
visas for prospective employees.


SUGAR COMPANY: Government to Receive Word From Eridania Suisse
--------------------------------------------------------------
The Jamaican Government is to receive crucial information within
the next two weeks which will determine the way forward for the
divestment of the remaining state-own sugar factories,
RadioJamaica reports.  The report relates Agriculture Minister Dr.
Christopher Tufton said that the Italian firm Eridania Suisse is
to signal its next move concerning the acquisition of the
factories.

According to the report, the company has presented a bid to buy
out Frome in Westmorland, Moneymusk in Clarendon and Bernard Lodge
in St. Catherine, the three remaining sugar estates.  "We're still
waiting on the final world from the Italian company and we expect
to get that by the end of the month or early next month," the
report quoted Dr. Tufton as saying.

As reported in the Troubled Company Reporter-Latin America on
August 25, 2009, the Jamaica Observer said that the Jamaica
government has received the US$15-million capital injection from
Italian firm Eridania Eridania Suisse.  Caribbean Net News related
that the government has negotiated an interim funding with
Eridania Suisse to ensure the continued operation of Sugar Company
of Jamaica's three sugar estates -- Frome in Westmoreland,
Monymusk in Clarendon, and Bernard Lodge in St Catherine.  The
report said the money will be used to undertake field maintenance
work on the three estates, as well as preparatory works for the
Frome and Monymusk factories.  According to the report,
Agriculture and Fisheries Minister Christopher Tufton said the
Cabinet has approved the arrangement, which should “effectively
ensure” the factories’ sugar production output for the 2009/10
crop year, while the process of divestment continues.  Caribbean
Net News noted Eridania and Energen Development Limited are the
two short-listed entities with which the administration is
pursuing negotiations toward the sale of the factories and
Petrojam Ethanol Limited (PEL).

                             About SCJ

The Sugar Company of Jamaica Limited, a.k.a. SCJ, was formed in
November 1993 by a consortium made up of J. Wray & Nephew
Limited, Manufacturers Investments Limited and Booker Tate
Limited.  The three companies each held 17% equity in SCJ, with
the remaining 49% being held by the government of Jamaica.  In
1998, the government became the sole shareholder of SCJ by
acquiring the interests of the members of the consortium. Its
stated goal was to maximize efficiency, productivity and
profitability of the three sugar factories, within three years.
The principal activities of the company are the cultivation of
cane and the manufacture and sale of sugar and molasses.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 22, 2009, the Jamaica Gleaner reported that Mr. Tufton said
that if a new deal is not inked soon for the divestment of SCJ's
factories, the public will be called on again to plug a projected
US$4.2 billion hole -- representing a US$2 billion operational
loss, and bank penalties -- apparently from continuous hefty
overdrafts.  The loss was incurred by the SCJ's four factories
during the 2008/2009 season.  The Gleaner related the enterprise
has a US$21-billion debt and losses totaling more than US$14
billion since 2005.


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


CIMINO BROKERAGE: Files for Chapter 11 in San Jose
--------------------------------------------------
According to Bill Rochelle at Bloomberg News, Cimino Brokerage
Co., also known as Cimino Brother Produce, filed a Chapter 11
petition.  Bloomberg notes the Debtor is intent on keeping its
business operating.  Secured lender Wells Fargo Bank NA wants the
operations terminated and the business liquidated.

The report relates that the Company said revenue in 2007 was
US$20.7 million.  The business was hurt by heavy rains and then by
defective cartons which caused US$6.5 million in damage to the
business.

Cimino Brokerage is the largest importer of broccoli from Mexico
to the U.S.  The company has a cooling facility in Laredo, Texas,
where the vegetables enter the U.S.

The Company filed for Chapter 11 on Nov. 24, 2009, in San Jose,
California (Bankr. N.D. Calif. Case No. 09-60291).  Todd M.
Arnold, Esq., at Levene, Neale, Bender, Rankin, and Brill,
represents the Debtor in its restructuring effort.  The petition
says assets and debt are both less than US$50 million.  Secured
lenders are owed US$15.6 million, including US$6.6 million to
Wells Fargo.


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


* PERU: Economy Shrank 0.6% in Third Quarter
--------------------------------------------
John Quigley at Bloomberg News reports that Peru’s economy
contracted for a second quarter in the three months through
September, led lower by manufacturing, fishing and retail sales.

According to the report, citing Peru’s National Statistics
Institute, gross domestic product shrank 0.6% from a year earlier
after contracting 1.1% in the second quarter.  The figure was
worse than the median forecast for a 0.4% decline in a Bloomberg
News survey of eight economists.

Bloomberg News notes that manufacturing output led by textiles
fell 11%, fishing declined 6% and retail sales slid 1.7%.  The
institute, the report relates said that consumer demand expanded
0.7% in the third quarter, down from 1.9% growth in the second.

Central Bank President Julio Velarde, the report notes, said that
Peru’s economy will post the fastest growth in Latin America in
2010 on rising private investment and consumer demand.

                           *     *     *

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-'.


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


CL FINANCIAL: Clico Insurance to Close Cayman Branch
----------------------------------------------------
Colonial Life Insurance Co. (Trinidad) Limited will officially
close its doors December 2, 2009, The Associated Press reports,
citing British territory's Health Insurance Commission.

According to the report, the company will now stop providing
coverage to hundreds of clients in the Cayman Islands.

CLICO is a unit of CL Financial Limited.

CL Financial Limited is a privately held conglomerate in Trinidad
and Tobago.  Founded as an insurance company, Colonial Life
Insurance Company 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 Tobago
President George Maxwell Richards 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.


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


PETROLEOS DE VENEZUELA: Still Settling Payables to Providers
------------------------------------------------------------
Petroleos de Venezuela is still trying to settle its bulky
accounts payable with service providers, despite having issued
billionaire debt obligations to repay them, El Universal News
reports.   The report relates that this could speed up company's
need to raise new funds.

According to the report, at the end of the first half of the year,
PdVSA's debt with suppliers of goods and services amounted to
US$8.15 billion, 8% more than the figure recorded at the end of
2008.  The report notes that although the issue of US$3 billion in
debt bonds allowed PDVSA to repay part of the debt, in recent
months the Venezuelan oil industry has been paying the debt little
by little.  "The current situation of PDVSA is even worse than the
crisis in the first half of the year," an unnamed oil executive
said, referring to the debt of Venezuela's main industry, which
has prevented many oil-related companies to pay year-end benefits
to their employees, the report adds.

As reported in the Troubled Company Reporter-Latin America on
November 13, 2009, Bloomberg News said PDVSA President Rafael
Ramirez indicated on Nov. 4 that the company will issue more bonds
before the end of the year to pay down debts with service
suppliers that stand at as much as US$5 billion.  The report
related that the Venezuelan government and PDVSA sold a combined
US$11.3 billion in bonds this year, after declines in oil prices
last year dragged down revenue.  The government needs money to
cover budget shortfalls, pay suppliers and meet demand for foreign
currency in the local market, Bloomberg News added.

                            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
July 3, 2009, Fitch Ratings assigned a 'B+/RR4' rating to
Petroleos de Venezuela S.A.'s proposed US$3 billion zero coupon
notes due in 2011.  These notes will be registered at Euroclear
or Clearstream.  Proceeds from the issuance are expected to be
used to fund capital expenditures and for other general corporate
purposes.  Fitch also has these ratings on PDVSA:

  -- Foreign currency Issuer Default Rating 'B+'
  -- Local currency IDR 'B+'
  -- US$3 billion outstanding senior notes (due 2017) 'B+/RR4'
  -- US$3.5 billion outstanding senior notes (due 2027) 'B+/RR4'
  -- US$1.5 billion outstanding senior notes (due 2037) 'B+/R


* VENEZUELA: Pres. Chavez Threatens to Nationalize Local Banks
--------------------------------------------------------------
Walker Simon at Reuters reports that Venezuelan President Hugo
Chavez said that he could nationalize private banks unless they
comply with the law, adding he had "no problem with that because
the banks don't want to extend credit to the poor."  The report
relates that President Chavez said that the purpose of banks was
not to enrich a small group of people but "should be to collect
funds and savings to help aid the country's development by making
loans, extending credits for housing."

According to the report, President Chavez's nationalization
threats appeared to be broader in scope than his well-publicized
warnings in recent years to nationalize Spanish-owned banks in
Venezuela.  The report relates that President Chavez repeatedly
threatened to seize Spanish bank subsidiaries in Venezuela unless
Spain's king apologized for telling him to "shut up" in November
2007 at a regional summit where Chavez branded a recent ex-Spanish
prime minister a fascist.

However, the report notes that the only major private bank to fall
into state hands under President Chavez's rule was Spain's Banco
Santander unit Banco de Venezuela, sold to Venezuela in July for
US$1.05 billion.

The report recalls that the government's last banking takeover was
on November 20, when it seized four small banks, accounting for
about 6% of Venezuela's deposits.  The report says that Finance
Minister Ali Rodriguez then said the move stemmed from concerns
about credit portfolios, problems explaining the source of funds
and failure to comply with some obligations.

Reuters notes that Venezuela's banking sector is dominated by 10
banks that control 70 percent of the total funds.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 15, 2009, Fitch Ratings assigned a 'BB+' rating to Ecopetrol
S.A.'s proposed issuance of at least US$1 billion senior unsecured
notes due 2019.  Proceeds will be used for investments and general
corporate purposes.


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


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

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

1CPMON BZ    CIA PETROLIFERA       377602195.17     -3014291.72
1CPMPN BZ    CIA PETROLIF-PRF      377602195.17     -3014291.72
1GASON BZ    GASCOIGNE EMPREE        1123596482   -536003485.59
1GASPN BZ    GASCOIGNE EMP-PF        1123596482   -536003485.59
1NOVON BZ    NOVA AMERICA SA           21287489   -183535527.21
1NOVPN BZ    NOVA AMERICA-PRF          21287489   -183535527.21
1TSSON BZ    TRESSEM PART SA      1018389001.17   -160218400.52
330902Q GR   IMPSAT FIBER NET         535007008       -17165000
3M11 GR      MMX MINERACA-GDR     1018389001.17   -160218400.52
81370Z BZ    TELECOMUNICA-ADR      219200060.46     -3774997.87
ALICON BZ    ARTHUR LANGE SA        21333792.82    -16295577.05
ALICPN BZ    ARTHUR LANGE-PRF       21333792.82    -16295577.05
APDSF US     AUTOPISTAS SOL        351681166.85      -2858782.1
ARLA1 BZ     ARTHUR LANG-RT C       21333792.82    -16295577.05
ARLA10 BZ    ARTHUR LANG-RC P       21333792.82    -16295577.05
ARLA11 BZ    ARTHUR LAN-DVD C       21333792.82    -16295577.05
ARLA12 BZ    ARTHUR LAN-DVD P       21333792.82    -16295577.05
ARLA2 BZ     ARTHUR LANG-RT P       21333792.82    -16295577.05
ARLA3 BZ     ARTHUR LANGE           21333792.82    -16295577.05
ARLA4 BZ     ARTHUR LANGE-PRF       21333792.82    -16295577.05
ARLA9 BZ     ARTHUR LANG-RC C       21333792.82    -16295577.05
AUSO AR      AUTOPISTAS SOL        351681166.85      -2858782.1
AZEV3 BZ     AZEVEDO                58171856.05     -4288079.64
AZEV4 BZ     AZEVEDO-PREF           58171856.05     -4288079.64
AZEVON BZ    AZEVEDO E TRAVAS       58171856.05     -4288079.64
AZEVPN BZ    AZEVEDO E TRA-PR       58171856.05     -4288079.64
BDFC US      B&D FOOD CORP             16631180        -1448544
BDFCE US     B&D FOOD CORP             16631180        -1448544
BLDR3 BZ     BALADARE              141215707.17    -12257915.87
BMBBF US     BOMBRIL               289000173.95   -166589139.96
BMBBY US     BOMBRIL SA-ADR        289000173.95   -166589139.96
BMBPY US     BOMBRIL SA-ADR        289000173.95   -166589139.96
BOBR1 BZ     BOMBRIL-RIGHTS        289000173.95   -166589139.96
BOBR2 BZ     BOMBRIL-RGTS PRE      289000173.95   -166589139.96
BOBR3 BZ     BOMBRIL               289000173.95   -166589139.96
BOBR4 BZ     BOMBRIL-PREF          289000173.95   -166589139.96
BOBRON BZ    BOMBRIL CIRIO SA      289000173.95   -166589139.96
BOBRPN BZ    BOMBRIL CIRIO-PF      289000173.95   -166589139.96
BUET1 BZ     BUETTNER SA-RTS         97710630.4    -46681943.42
BUET2 BZ     BUETTNER SA-RT P        97710630.4    -46681943.42
BUET3 BZ     BUETTNER                97710630.4    -46681943.42
BUET4 BZ     BUETTNER-PREF           97710630.4    -46681943.42
BUETON BZ    BUETTNER SA             97710630.4    -46681943.42
BUETPN BZ    BUETTNER SA-PRF         97710630.4    -46681943.42
CAD IX       SOC COMERCIAL PL      113091441.22   -254639574.05
CADN EO      SOC COMERCIAL PL      113091441.22   -254639574.05
CADN SW      SOC COMERCIAL PL      113091441.22   -254639574.05
CAFE3 BZ     CAF BRASILIA           20168618.46   -728730285.95
CAFE4 BZ     CAF BRASILIA-PRF       20168618.46   -728730285.95
CALI3 BZ     CONST A LINDEN         11147512.97    -15979177.01
CALI4 BZ     CONST A LIND-PRF       11147512.97    -15979177.01
CAMB3 BZ     CAMBUCI SA             91527757.19    -26705142.99
CAMB4 BZ     CAMBUCI SA-PREF        91527757.19    -26705142.99
CAMBON BZ    CAMBUCI SA             91527757.19    -26705142.99
CAMBPN BZ    CAMBUCI SA-PREF        91527757.19    -26705142.99
CBRZF US     TELEBRAS-PF RCPT      219200060.46     -3774997.87
CCHI3 BZ     CHIARELLI SA           22274026.77    -44537138.21
CCHI4 BZ     CHIARELLI SA-PRF       22274026.77    -44537138.21
CCHON BZ     CHIARELLI SA           22274026.77    -44537138.21
CCHPN BZ     CHIARELLI SA-PRF       22274026.77    -44537138.21
CEED3 BZ     CEEE-D               1090886626.84    -15249815.85
CEED3B BZ    CEEE-D               1090886626.84    -15249815.85
CEED4 BZ     CEEE-D-PREF          1090886626.84    -15249815.85
CEED4B BZ    CEEE-D-PREF          1090886626.84    -15249815.85
CHILESAT CI  TELMEX CORP SA        450943844.68    -52392581.33
CHISATOS CI  CHILESAT CO-RTS       450943844.68    -52392581.33
COME AR      SOC COMERCIAL PL      113091441.22   -254639574.05
COMEB AR     COMERCIAL PLA-BL      113091441.22   -254639574.05
COMEC AR     COMERCIAL PL-C/E      113091441.22   -254639574.05
COMED AR     COMERCIAL PLAT-$      113091441.22   -254639574.05
CSAOY US     TELMEX CORP-ADR       450943844.68    -52392581.33
CSBRON BZ    CAFE BRASILIA SA       20168618.46   -728730285.95
CSBRPN BZ    CAFE BRASILIA-PR       20168618.46   -728730285.95
CVVIF US     SOC COMERCIAL PL      113091441.22   -254639574.05
CXDOF US     CAMBUCI SA-PREF        91527757.19    -26705142.99
DHBI3 BZ     D H B                 124060999.44   -405125352.78
DHBI4 BZ     D H B-PREF            124060999.44   -405125352.78
DHBON BZ     DHB IND E COM         124060999.44   -405125352.78
DHBPN BZ     DHB IND E COM-PR      124060999.44   -405125352.78
DOCA2 BZ     DOCAS SA-RTS PRF       88417960.92    -18059127.86
DOCA3 BZ     DOCA INVESTIMENT       88417960.92    -18059127.86
DOCA4 BZ     DOCA INVESTI-PFD       88417960.92    -18059127.86
DOCAON BZ    DOCAS SA               88417960.92    -18059127.86
DOCAPN BZ    DOCAS SA-PREF          88417960.92    -18059127.86
EAAON BZ     ACO ALTONA SA          84614947.94    -14270921.51
EAAPN BZ     ACO ALTONA-PREF        84614947.94    -14270921.51
EALT3 BZ     ACO ALTONA             84614947.94    -14270921.51
EALT4 BZ     ACO ALTONA-PREF        84614947.94    -14270921.51
ESTR3 BZ     ESTRELA SA             61011893.59    -54580283.64
ESTR4 BZ     ESTRELA SA-PREF        61011893.59    -54580283.64
ESTRON BZ    ESTRELA SA             61011893.59    -54580283.64
ESTRPN BZ    ESTRELA SA-PREF        61011893.59    -54580283.64
FRNXON BZ    FABRICA RENAUX          61543317.9     -41332379.8
FRNXPN BZ    FABRICA RENAUX-P        61543317.9     -41332379.8
FTRX1 BZ     FABRICA TECID-RT        61543317.9     -41332379.8
FTRX3 BZ     FABRICA RENAUX          61543317.9     -41332379.8
FTRX4 BZ     FABRICA RENAUX-P        61543317.9     -41332379.8
FTSJON BZ    TECEL S JOSE           17924946.14    -18569451.23
FTSJPN BZ    TECEL S JOSE-PRF       17924946.14    -18569451.23
GAFON BZ     CIMOB PARTIC SA        36817394.78    -33083086.54
GAFP3 BZ     CIMOB PARTIC SA        36817394.78    -33083086.54
GAFP4 BZ     CIMOB PART-PREF        36817394.78    -33083086.54
GAFPN BZ     CIMOB PART-PREF        36817394.78    -33083086.54
GASC3 BZ     ALL MALHA PAULIS        1123596482   -536003485.59
GASC3B BZ    ALL MALHA PAULIS        1123596482   -536003485.59
GASC4 BZ     GASCOIGNE EMP-PF        1123596482   -536003485.59
GASC4B BZ    GASCOIGNE EMP-PF        1123596482   -536003485.59
GAZO10 BZ    GAZOLA-RCPT PREF       12452143.07    -40298506.25
GAZO11 BZ    GAZOLA SA-DVD CM       12452143.07    -40298506.25
GAZO12 BZ    GAZOLA SA-DVD PF       12452143.07    -40298506.25
GAZO3 BZ     GAZOLA                 12452143.07    -40298506.25
GAZO4 BZ     GAZOLA-PREF            12452143.07    -40298506.25
GAZO9 BZ     GAZOLA-RCPTS CMN       12452143.07    -40298506.25
GAZON BZ     GAZOLA SA              12452143.07    -40298506.25
GAZPN BZ     GAZOLA SA-PREF         12452143.07    -40298506.25
HAGA3 BZ     HAGA                   16483114.08    -62923101.98
HAGA4 BZ     FER HAGA-PREF          16483114.08    -62923101.98
HAGAON BZ    FERRAGENS HAGA         16483114.08    -62923101.98
HAGAPN BZ    FERRAGENS HAGA-P       16483114.08    -62923101.98
IMBI1 BZ     DOC IMBITUBA-RTC      114896167.37    -16783228.37
IMBI2 BZ     DOC IMBITUBA-RTP      114896167.37    -16783228.37
IMBI3 BZ     DOC IMBITUBA          114896167.37    -16783228.37
IMBI4 BZ     DOC IMBITUB-PREF      114896167.37    -16783228.37
IMBION BZ    DOCAS IMBITUBA        114896167.37    -16783228.37
IMBIPN BZ    DOCAS IMBITUB-PR      114896167.37    -16783228.37
IMPT AR      IMPSAT FIBER-CED         535007008       -17165000
IMPTB AR     IMPSAT FIBER-BLK         535007008       -17165000
IMPTC AR     IMPSAT FIBER-C/E         535007008       -17165000
IMPTD AR     IMPSAT FIBER-$US         535007008       -17165000
IMPTQ US     IMPSAT FIBER NET         535007008       -17165000
LATF US      LATTENO FOOD COR          16631180        -1448544
LCSA3 BZ     PARMALAT              353615264.63    -165164436.3
LCSA4 BZ     PARMALAT-PREF         353615264.63    -165164436.3
LCSA5 BZ     PARMALAT BR-RT C      353615264.63    -165164436.3
LCSA6 BZ     PARMALAT BR-RT P      353615264.63    -165164436.3
LCSAON BZ    PARMALAT BRASIL       353615264.63    -165164436.3
LCSAPN BZ    PARMALAT BRAS-PF      353615264.63    -165164436.3
LEAP LX      LAEP INVESTMENTS      440611400.44    -32930986.27
LINDON BZ    CONST A LINDEN         11147512.97    -15979177.01
LINDPN BZ    CONST A LIND-PRF       11147512.97    -15979177.01
MANGON BZ    PETRO MANGUINHOS       76852724.18   -212528966.16
MANGPN BZ    PETRO MANGUIN-PF       76852724.18   -212528966.16
MILK11 BZ    LAEP-BDR              440611400.44    -32930986.27
MMXCF US     MMX MINERACAO        1018389001.17   -160218400.52
MMXM3 BZ     MMX MINERACAO        1018389001.17   -160218400.52
MMXMY US     MMX MINERACA-GDR     1018389001.17   -160218400.52
MNPR3 BZ     MINUPAR                89611489.39    -20702110.72
MNPR4 BZ     MINUPAR-PREF           89611489.39    -20702110.72
MNPRON BZ    MINUPAR SA             89611489.39    -20702110.72
MNPRPN BZ    MINUPAR SA-PREF        89611489.39    -20702110.72
MRLM3 BZ     CIA PETROLIFERA       377602195.17     -3014291.72
MRLM3B BZ    CIA PETROLIFERA       377602195.17     -3014291.72
MRLM4 BZ     CIA PETROLIF-PRF      377602195.17     -3014291.72
MRLM4B BZ    CIA PETROLIF-PRF      377602195.17     -3014291.72
MWELON BZ    WETZEL SA              79756128.35     -6350930.69
MWELPN BZ    WETZEL SA-PREF         79756128.35     -6350930.69
MWET3 BZ     WETZEL SA              79756128.35     -6350930.69
MWET4 BZ     WETZEL SA-PREF         79756128.35     -6350930.69
NORD1 BZ     NORDON MET-RTS         15498217.36     -20133536.7
NORD3 BZ     NORDON MET             15498217.36     -20133536.7
NORDON BZ    NORDON METAL           15498217.36     -20133536.7
NOVA3 BZ     NOVA AMERICA SA           21287489   -183535527.21
NOVA3B BZ    NOVA AMERICA SA           21287489   -183535527.21
NOVA4 BZ     NOVA AMERICA-PRF          21287489   -183535527.21
NOVA4B BZ    NOVA AMERICA-PRF          21287489   -183535527.21
NOVAON BZ    NOVA AMERICA SA           21287489   -183535527.21
NOVAPN BZ    NOVA AMERICA-PRF          21287489   -183535527.21
PQT5 BZ      PARQUE TEM-DV CM       60697522.73     -51330086.4
PQT6 BZ      PARQUE TEM-DV PF       60697522.73     -51330086.4
PQTM1 BZ     PARQUE TEM-RT CM       60697522.73     -51330086.4
PQTM10 BZ    PARQUE TEM-RCT P       60697522.73     -51330086.4
PQTM2 BZ     PARQUE TEM-RT PF       60697522.73     -51330086.4
PQTM3 BZ     HOPI HARI SA           60697522.73     -51330086.4
PQTM4 BZ     HOPI HARI-PREF         60697522.73     -51330086.4
PQTM9 BZ     PARQUE TEM-RCT C       60697522.73     -51330086.4
PRMN3 BZ     PROMAN                 13403496.63      -173711.31
PRMN3B BZ    PROMAN                 13403496.63      -173711.31
RCT4B AR     TELEBRAS-CEDE BL      219200060.46     -3774997.87
RCT4C AR     TELEBRAS-CED C/E      219200060.46     -3774997.87
RCT4D AR     TELEBRAS-CEDEA $      219200060.46     -3774997.87
RCTB1 BZ     TELEBRAS-RTS CMN      219200060.46     -3774997.87
RCTB2 BZ     TELEBRAS-RTS PRF      219200060.46     -3774997.87
RCTB30 BZ    TELEBRAS-CM RCPT      219200060.46     -3774997.87
RCTB31 BZ    TELEBRAS-CM RCPT      219200060.46     -3774997.87
RCTB32 BZ    TELEBRAS-CM RCPT      219200060.46     -3774997.87
RCTB33 BZ    TELEBRAS-RCT          219200060.46     -3774997.87
RCTB4 AR     TELEBRAS-CEDE PF      219200060.46     -3774997.87
RCTB40 BZ    TELEBRAS-PF RCPT      219200060.46     -3774997.87
RCTB41 BZ    TELEBRAS-PF RCPT      219200060.46     -3774997.87
RCTB42 BZ    TELEBRAS-PF RCPT      219200060.46     -3774997.87
REEM3 BZ     RIMET                  63757621.65   -107162239.91
REEM4 BZ     RIMET-PREF             63757621.65   -107162239.91
REEMON BZ    RIMET                  63757621.65   -107162239.91
REEMPN BZ    RIMET-PREF             63757621.65   -107162239.91
REIC US      REII INC                  16631180        -1448544
RENXON BZ    TEXTEIS RENAUX         58969047.84    -91550951.89
RENXPN BZ    TEXTEIS RENAUX         58969047.84    -91550951.89
RPMG1 BZ     PET MANG-RIGHTS        76852724.18   -212528966.16
RPMG10 BZ    PET MANG-RECEIPT       76852724.18   -212528966.16
RPMG2 BZ     PET MANG-RIGHTS        76852724.18   -212528966.16
RPMG3 BZ     PETRO MANGUINHOS       76852724.18   -212528966.16
RPMG4 BZ     PET MANGUINH-PRF       76852724.18   -212528966.16
RPMG9 BZ     PET MANG-RECEIPT       76852724.18   -212528966.16
RSUL3 BZ     RIOSULENSE SA          61902901.69    -11292932.53
RSUL4 BZ     RIOSULENSE SA-PR       61902901.69    -11292932.53
RSULON BZ    RIOSULENSE SA          61902901.69    -11292932.53
RSULPN BZ    RIOSULENSE SA-PR       61902901.69    -11292932.53
RTB US       TELEBRAS-ADR          219200060.46     -3774997.87
SCDPF US     SOC COMERCIAL PL      113091441.22   -254639574.05
SCHON BZ     SCHLOSSER SA           11745600.44     -75930514.2
SCHPN BZ     SCHLOSSER SA-PRF       11745600.44     -75930514.2
SCLO3 BZ     SCHLOSSER              11745600.44     -75930514.2
SCLO4 BZ     SCHLOSSER-PREF         11745600.44     -75930514.2
SCPDS LI     COMERCIAL PL-ADR      113091441.22   -254639574.05
SDAGF US     SNIAFA SA-B            11489328.24      -840226.12
SJOS3 BZ     TECEL S JOSE           17924946.14    -18569451.23
SJOS4 BZ     TECEL S JOSE-PRF       17924946.14    -18569451.23
SNIA AR      SNIAFA SA              11489328.24      -840226.12
SNIA5 AR     SNIAFA SA-B            11489328.24      -840226.12
SNST3 BZ     SANESALTO              24569561.13      -754460.51
SNSY3 BZ     SANSUY                100279114.92    -45812488.77
SNSY5 BZ     SANSUY-PREF A         100279114.92    -45812488.77
SNSY6 BZ     SANSUY-PREF B         100279114.92    -45812488.77
SNSYAN BZ    SANSUY SA-PREF A      100279114.92    -45812488.77
SNSYBN BZ    SANSUY SA-PREF B      100279114.92    -45812488.77
SNSYON BZ    SANSUY SA             100279114.92    -45812488.77
STARON BZ    STAROUP SA             31385624.73     -9890708.41
STARPN BZ    STAROUP SA-PREF        31385624.73     -9890708.41
STRP3 BZ     BOTUCATU TEXTIL        31385624.73     -9890708.41
STRP4 BZ     BOTUCATU-PREF          31385624.73     -9890708.41
TBAPF US     TELEBRAS-PF RCPT      219200060.46     -3774997.87
TBAPY US     TELEBRAS-ADR          219200060.46     -3774997.87
TBASF US     TELEBRAS SA           219200060.46     -3774997.87
TBASY US     TELEBRAS-ADR          219200060.46     -3774997.87
TBH US       TELEBRAS-ADR          219200060.46     -3774997.87
TBH-W US     TELEBRAS/W-I-ADR      219200060.46     -3774997.87
TBRAY GR     TELEBRAS-ADR          219200060.46     -3774997.87
TBRTF US     TELEBRAS-CM RCPT      219200060.46     -3774997.87
TBX GR       TELEBRAS-ADR          219200060.46     -3774997.87
TCLP1 BZ     TELEBRAS-RTS CMN      219200060.46     -3774997.87
TEKA3 BZ     TEKA                   237436193.6   -360484909.92
TEKA4 BZ     TEKA-PREF              237436193.6   -360484909.92
TEKAON BZ    TEKA                   237436193.6   -360484909.92
TEKAPN BZ    TEKA-PREF              237436193.6   -360484909.92
TEKAY US     TEKA-ADR               237436193.6   -360484909.92
TEL4C AR     TELEBRAS-CED C/E      219200060.46     -3774997.87
TEL4D AR     TELEBRAS-CEDEA $      219200060.46     -3774997.87
TELB1 BZ     TELEBRAS-COM RT       219200060.46     -3774997.87
TELB10 BZ    TELEBRAS-RCT PRF      219200060.46     -3774997.87
TELB3 BZ     TELEBRAS SA           219200060.46     -3774997.87
TELB30 BZ    TELEBRAS-BLOCK        219200060.46     -3774997.87
TELB4 AR     TELEBRAS-CEDE PF      219200060.46     -3774997.87
TELB4 BZ     TELEBRAS SA-PREF      219200060.46     -3774997.87
TELB40 BZ    TELEBRAS-PF BLCK      219200060.46     -3774997.87
TELB9 BZ     TELEBRAS SA-RT        219200060.46     -3774997.87
TELE31 BZ    TELEBRAS-CM RCPT      219200060.46     -3774997.87
TELE41 BZ    TELEBRAS-PF RCPT      219200060.46     -3774997.87
TELEX CI     CHILESAT CORP SA      450943844.68    -52392581.33
TELEXA CI    TELEX-A               450943844.68    -52392581.33
TELEXO CI    TELEX-RTS             450943844.68    -52392581.33
TKTPF US     TEKA-PREF              237436193.6   -360484909.92
TKTPY US     TEKA-ADR               237436193.6   -360484909.92
TKTQF US     TEKA                   237436193.6   -360484909.92
TKTQY US     TEKA-ADR               237436193.6   -360484909.92
TL US        CHILESAT CO-ADR       450943844.68    -52392581.33
TLBRON BZ    TELEBRAS SA           219200060.46     -3774997.87
TLBRPN BZ    TELEBRAS SA-PREF      219200060.46     -3774997.87
TLBRUO BZ    TELEBRAS-RECEIPT      219200060.46     -3774997.87
TLBRUP BZ    TELEBRAS-PF RCPT      219200060.46     -3774997.87
TLCP2 BZ     TELEBRAS-RTS PRF      219200060.46     -3774997.87
TRES3 BZ     MMX MINERACAO        1018389001.17   -160218400.52
TXRX1 BZ     TEXTEIS RENAU-RT       58969047.84    -91550951.89
TXRX10 BZ    TEXTEIS RENA-RCT       58969047.84    -91550951.89
TXRX2 BZ     TEXTEIS RENAU-RT       58969047.84    -91550951.89
TXRX3 BZ     RENAUXVIEW SA          58969047.84    -91550951.89
TXRX4 BZ     RENAUXVIEW SA-PF       58969047.84    -91550951.89
TXRX9 BZ     TEXTEIS RENA-RCT       58969047.84    -91550951.89
VAGV3 BZ     VARIG SA              966298025.55  -4695211316.33
VAGV4 BZ     VARIG SA-PREF         966298025.55  -4695211316.33
VARGON BZ    VARIG SA              966298025.55  -4695211316.33
VARGPN BZ    VARIG SA-PREF         966298025.55  -4695211316.33
VPSC3 BZ     VARIG PART EM SE      101177852.25   -318442006.32
VPSC4 BZ     VARIG PART EM-PR      101177852.25   -318442006.32
VPTA3 BZ     VARIG PART EM TR       49432124.18   -399290425.77
VPTA4 BZ     VARIG PART EM-PR       49432124.18   -399290425.77
VSPT10 BZ    FER C ATL-RCT PF     1189275625.36    -35605725.65
VSPT11 BZ    FERROVIA CEN-DVD     1189275625.36    -35605725.65
VSPT12 BZ    FERROVIA CEN-DVD     1189275625.36    -35605725.65
VSPT3 BZ     FER C ATLANT         1189275625.36    -35605725.65
VSPT4 BZ     FER C ATLANT-PRF     1189275625.36    -35605725.65
VSPT9 BZ     FER C ATL-RCT CM     1189275625.36    -35605725.65
WISA3 BZ     WIEST                  39838113.86    -93371563.06
WISA4 BZ     WIEST-PREF             39838113.86    -93371563.06
WISAON BZ    WIEST SA               39838113.86    -93371563.06
WISAPN BZ    WIEST SA-PREF          39838113.86    -93371563.06
XIMPT SM     IMPSAT FIBER NET         535007008       -17165000
XMM CN       MMX MINERACA-GDR     1018389001.17   -160218400.52



                            ***********

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, Marites O. Claro, Joy A. Agravente, 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.


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