TCRLA_Public/091211.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

        Friday, December 11, 2009, Vol. 10, No. 246

                            Headlines

A N T I G U A  &  B A R B U D A

STANFORD INT'L: Former Employees Reach to Recover Funds


A R G E N T I N A

AGUILERA EQUIPAMIENTOS: Creditors' Proofs of Debt Due on Feb. 23
DROGALENO SA: Creditors' Proofs of Debt Due on March 1
INVERSION SRL: Creditors' Proofs of Debt Due on February 3
LOGIRANCHS SA: Creditors' Proofs of Debt Due on March 5
TELECOM ARGENTINA: To Increase Technology Investment in 2010

* ARGENTINA: To Unveil Debt Swap Details Next Month


B E R M U D A

ATLANTIC PUBLISHING: Creditors' Proofs of Debt Due on December 18
ATLANTIC PUBLISHING: Member to Receive Wind-Up Report on January 5
TREDEGAR PRIVATE: Creditors' Proofs of Debt Due on December 18
TREDEGAR PRIVATE: Members to Receive Wind-Up Report on January 6


B R A Z I L

CAMARGO CORREA: CCDI to Issue BRL400 Million in Debentures
FAZENDAS REUNIDAS: Chapter 15 Case Summary
GERDAU SA: Steel Output Capacity Double Local Demand, CEO Says


C A Y M A N  I S L A N D S

AQUEOUS OFFSHORE: Commences Wind-Up Proceedings
BALANCIA FUND: Creditors' Proofs of Debt Due Today
BALANCIA MASTER: Creditors' Proofs of Debt Due Today
CAYMAN LOAN: Commences Liquidation Proceedings
C-SYMBOL LTD: Commences Liquidation Proceedings

CENTERLINE CLO: Commences Liquidation Proceedings
CHRISTIE LTD: Placed Under Voluntary Wind-Up
CITIUS II: Commences Liquidation Proceedings
CRYSTAL FUNDING: Commences Liquidation Proceedings
COLUMBUS INTERNATIONAL: Commences Liquidation Proceedings

COMBINATION ASSET: Commences Liquidation Proceedings
CONTEXT/TQA SPECIAL: Commences Wind-Up Proceedings
CONTEXT/TQA GLOBAL: Commences Wind-Up Proceedings
DAVENPORT CDO: Commences Liquidation Proceedings
FIRST QUADRANT: Commences Liquidation Proceedings

FIRST QUADRANT: Commences Liquidation Proceedings
HALCYON POWER: Creditors' Proofs of Debt Due on December 14
HFH SHORTPLUS: Commences Wind-Up Proceedings
KAIROS HEDGE: Placed Under Voluntary Wind-Up
OSPRAIE REAL: Creditors' Proofs of Debt Due Today

OSPRAIE REAL: Creditors' Proofs of Debt Due Today
OSPRAIE TRADING: Creditors' Proofs of Debt Due Today
OSPRAIE VALUE: Creditors' Proofs of Debt Due Today
PARADIGM GLOBAL: Commences Liquidation Proceedings
SIGNATURE QSPE: Commences Liquidation Proceedings

SPM STRATEGIES: Placed Under Voluntary Wind-Up
STEED FUND: Commences Liquidation Proceedings
STROME ALPHA: Commences Liquidation Proceedings
VET PARTNERS: Placed Under Voluntary Wind-Up
XILINX HOLDING: Commences Liquidation Proceedings


D O M I N I C A N  R E P U B L I C

AES CORP: AES Dominicana Guarantees 600MW Power In Next 2 Months


J A M A I C A

AIR JAMAICA: Gov't Appears Ready for Divestment Process
BAUXITE COMPANY, GUYANA: Workers End Two-Week Strike
CABLE & WIRELESS: LIME Theft Leaves Customers Without Service


M E X I C O

ASARCO LLC: Grupo Mexico to Pay US$1.79 Billion for Cleanup
CEMEX SAB: Sells US$1.77 Billion Bonds Overseas
GRUPO MEXICO: To Pay US$1.79 Billion for Asarco Cleanup


P E R U

BANCO DE CREDITO: Finances Buenaventura HPP Construction


T R I N I D A D  &  T O B A G O

CL FINANCIAL: HCL CEO Separated From One Woodbrook Project


V E N E Z U E L A

CITGO PETROLEUM: To Cooperate Fully With CSB Investigation


                         - - - - -


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


STANFORD INT'L: Former Employees Reach to Recover Funds
-------------------------------------------------------
Former employees of Stanford International Bank Limited have
reached an agreement with the bank to recover severance and
retirement funds owed to them, Jamaica Gleaner reports.
"Agreement was reached to collectively pursue the employees'
retirement fund through the legal system of Antigua and Barbuda,"
the report quoted Scott Glendinning, spokesman for the Stanford
Severed Employees Committee, as saying.

According to the report, under the deal, attorneys for the bank
will cooperate with the committee's legal representative Cosbert
Cumberbatch.

"The Stanford Group of Companies has been partially dismantled and
there's really no trustee to administer the retirement fund and
that's beyond the abilities of the bank to disperse any money
without an independent trustee, so the two counsels are working
towards seeking remedy through the legal system," the report
quoted  Mr. Glendinning as saying.  "The committee is hopeful that
with this level of cooperation at the Bank of Antigua we will have
this matter resolved soon," he added.

The SSEC, the report notes, said that its members are owed several
million dollars with the severance alone amounting to EC$10
million (US$3.7 million).

                 About Stanford International Bank

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.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission, on Feb. 17, charged
before the U.S. District Court in Dallas, Texas, 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.

A criminal case was pursued against him in June before the U.S.
District Court in Houston, Texas.  Mr. Stanford pleaded not guilty
to 21 charges of multi-billion dollar fraud, money-laundering and
obstruction of justice.  Assistant Attorney General Lanny Breuer,
as cited by Agence France-Presse News, said in a 57-page
indictment that Mr. Stanford could face up to 250 years in prison
if convicted on all charges.  Mr. Stanford surrendered to U.S.
authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342, U.S. District
Court, Southern District of Texas (Houston). The civil case is SEC
v. Stanford International Bank, 3:09-cv-00298-N, U.S. District
Court, Northern District of Texas (Dallas).


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


AGUILERA EQUIPAMIENTOS: Creditors' Proofs of Debt Due on Feb. 23
----------------------------------------------------------------
The court-appointed trustee for Aguilera Equipamientos Comerciales
S.R.L.'s bankruptcy proceedings will be verifying creditors'
proofs of claim until February 23, 2010.

The trustee will present the validated claims in court as
individual reports on April 9, 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
June 9, 2010.


DROGALENO SA: Creditors' Proofs of Debt Due on March 1
------------------------------------------------------
The court-appointed trustee for Drogaleno 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 16, 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
June 2, 2010.


INVERSION SRL: Creditors' Proofs of Debt Due on February 3
----------------------------------------------------------
The court-appointed trustee for Inversion S.R.L.'s reorganization
proceedings will be verifying creditors' proofs of claim until
February 3, 2010.

The trustee will present the validated claims in court as
individual reports on March 17, 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 3, 2010.

Creditors will vote to ratify the completed settlement plan
during the assembly on October 8, 2010.


LOGIRANCHS SA: Creditors' Proofs of Debt Due on March 5
-------------------------------------------------------
The court-appointed trustee for Logiranchs S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
March 5, 2010.

The trustee will present the validated claims in court as
individual reports on April 21, 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
June 4, 2010.


TELECOM ARGENTINA: To Increase Technology Investment in 2010
------------------------------------------------------------
Telecom Argentina S.A. will increase its investment in technology
in 2010, after paying off the majority of its debt ahead of
schedule this year, Riva Froymovich at Dow Jones Newswires
reports, citing Company Chief Executive Officer Franco Bertone.
The debt payoff will also allow the company to resume paying
dividends next year, Mr. Bertone told the news agency in an
interview.  "We were restricted by being cash-strapped in the
past," he added.

According to the report, Mr. Bertone said that strong growth
results expected for 2009 will help as well.  Mr. Bertone, the
report relates, expects annual revenues to reach about US$3.5
billion at year-end, which represents 14% growth from the previous
year.  Net profit is seen jumping 20%, he added.

In October, the report recalls, Telecom Argentina paid off the
last US$352 million on a US$1.9 billion loan extended in 2005.

Next year, Dow Jones says, Telecom Argentina will increase
investments to about 15% to 16% from 13% to 14%, on a capital
expenditure basis.  The report notes that the money will
predominantly go to upgrading its transport network to allow
increased Internet access to mobile users.

Mr. Bertone, the report adds, said that Telcom Argentina
concentrated on paying down its dollar- and euro-denominated debt
this year to limit the impact of local currency fluctuations.
Exposure to euro-denominated debt this year had a big impact on
the company's earnings, he added.

                     About Telecom Argentina

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- provides
telephone-related services, such as international long-distance
service and data transmission and Internet services, and through
its subsidiaries, wireless telecommunications services,
international wholesale services and telephone directory
publishing.

                           *     *     *

As of June 30, 2009, the company continues to carry Standard and
Poor's "B-" LT Foreign Issuer Credit rating and "B" LT Local
Issuer Credit rating.  The company also continues to carry Fitch
ratings' "B" LT FC Issuer default rating; "B+" LT LC Issuer
default rating; and "B" Senior Unsecured Debt rating


* ARGENTINA: To Unveil Debt Swap Details Next Month
---------------------------------------------------
Argentina expects to unveil in January details of a plan to swap
US$20 billion of defaulted debt after the U.S. Securities and
Exchange Commission approves documents for the offer, Drew Benson
at Bloomberg News reports, citing an unnamed economy ministry
official.

According to the report, the minister said that President Cristina
Fernandez de Kirchner will likely sign a decree this week to
expand a 2005 bond program, allowing the government to file the
paperwork with U.S. regulators, said the official.  The documents
may be filed with the SEC as soon as next week, the minister
added.

The report relates Javier Salvucci, an analyst with Silver Cloud
Advisors in Buenos Aires, said that a lack of details about the
swap has slowed Argentine bond trading as investors await the
terms of the offer.  Economy Minister Amado Boudou, the report
recalls, said that the government was still studying the details
and that the exchange could get pushed to January.  “The market
was expecting a shorter timeline for the debt swap,” the report
quoted Mr. Salvucci as saying.  “I don’t see a lot of selling, but
trading has stalled,” he added.

As reported in the Troubled Company Reporter-Latin America on
November 10, 2009, Bloomberg News said that Argentina plans to
make a proposal on the restructuring of US$20 billion of defaulted
bonds.  According the report, Argentina will seek approval from as
many of the holders of the defaulted debt as possible and may meet
investors in Italy, Germany, Japan, New York and London.  The
report noted that Argentina may sell bonds in international
markets to finance investments in utilities and infrastructure.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 27, 2009, Standard & Poor's Ratings Services affirmed its
'B-' long-term and 'C' short-term sovereign credit ratings on the
Republic of Argentina.  The outlook remains stable.


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


ATLANTIC PUBLISHING: Creditors' Proofs of Debt Due on December 18
-----------------------------------------------------------------
The creditors of Atlantic Publishing Company Limited are required
to file their proofs of debt by December 18, 2009, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on December 3, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Cox Hallett Wilkinson
          Bermuda


ATLANTIC PUBLISHING: Member to Receive Wind-Up Report on January 5
------------------------------------------------------------------
The sole member of Atlantic Publishing Company Limited will
receive, on January 5, 2010, 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 December 3, 2009.

The company's liquidator is:

          Ernest A. Morrison
          Cox Hallett Wilkinson
          Bermuda


TREDEGAR PRIVATE: Creditors' Proofs of Debt Due on December 18
--------------------------------------------------------------
The creditors of Tredegar Private Trust Company Limited are
required to file their proofs of debt by December 18, 2009, to be
included in the company's dividend distribution.

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

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


TREDEGAR PRIVATE: Members to Receive Wind-Up Report on January 6
----------------------------------------------------------------
The members of Tredegar Private Trust Company Limited will
receive, on January 6, 2010, 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 December 2, 2009.

The company's liquidator is:

          Robin J. Mayor
          Clarendon House
          Church Street, Hamilton
          Bermuda


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


CAMARGO CORREA: CCDI to Issue BRL400 Million in Debentures
----------------------------------------------------------
Camargo Correa Desenvolvimento Imobiliario SA's board approved the
company's plan to raise BRL400 million (US$227 million) from an
issue of nonconvertible debentures, Rogerio Jelmayer at Dow Jones
Newswires reports, citing a company statement.  Camargo Correa
Desenvolvimento is a unit of Camargo Correa SA.

According to the report, the debentures will mature in three
years.  The company, the report relates, said it will use the
proceeds to pay existing debts and to finance its working capital
and investments.

Camargo Correa SA is one of the largest private industrial
conglomerates in Brazil.  The company is a holding company with
interests in cement, engineering and construction, textiles,
footwear and sportswear manufacturing.  It also owns non-
controlling equity interests in the energy, transportation
(highway concessions) and steel businesses.  During the last
12 months through June 2007, Camargo Correa had net sales of
BRL9.2 billion and EBITDA of BRL1.4 billion.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 26, 2009, Fitch Ratings currently rates Camargo :

  -- Foreign currency Issuer Default Rating 'BB';
  -- Local currency IDR 'BB';
  -- National Scale rating 'AA-(bra)'.


FAZENDAS REUNIDAS: Chapter 15 Case Summary
------------------------------------------
Chapter 15 Petitioner: Gustavo Saven de Annuda Piyto,
                       foreign representative

Chapter 15 Debtor: Fazendas Reunidas Boi Gordo, S.A.
                   Attn: Gustavo H. Sauer de Arruda Pinto
                   Praa Da Libertade, 130, 8Andar cjs 84/
                   O1503-010, Sao Pulo, SP
                   Miami, FL 33131

Chapter 15 Case No.: 09-37116

Type of Business:

Chapter 15 Petition Date: December 8, 2009

Court: Southern District of Florida (Miami)

Judge: A. Jay Cristol

Chapter 15 Petitioner's Counsel: Gregory S. Grossman, Esq.
                                 701 Brickell Ave 16 Fl
                                 Miami, FL 33131
                                 Tel: (305) 372-8282
                                 Email: ggrossman@astidavis.com

Estimated Assets: US$50,000,001 to US$100,000,000

Estimated Debts: More than US$1,000,000,000


GERDAU SA: Steel Output Capacity Double Local Demand, CEO Says
--------------------------------------------------------------
Brazil’s steel output capacity is twice as much as domestic
demand, Iuri Dantas and Diana Kinch at Bloomberg News report,
citing Gerdau SA Chairman Jorge Gerdau Johannpeter.  The report
relates Mr. Johannpeter said that the country must make an effort
to increase steel exports in view of low domestic demand.

According to the report, Flavio Azevedo, president of Brazil’s
Steel Institute Aco Brasil, said that crude steel production
capacity in Brazil will rise 3.6% next year to 43.5 million metric
tons, about double demand levels which are still recovering from
the crisis.   Mr. Azevedo, the report relates, said that in the
medium-term, new mill projects including those announced by Vale
SA will boost capacity further, particularly for the export
market.

Bloomberg News, citing the institute, notes that steel demand will
climb 22% to 22.9 million tons from 18.8 million this year as
orders grow from industrial segments including carmaking.  The
report adds that the institute said steel exports from Brazil
increased 3.3% this year and will grow an additional 16 percent to
11 million tons in 2010.

                         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.


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


AQUEOUS OFFSHORE: Commences Wind-Up Proceedings
-----------------------------------------------
On October 29, 2009, the sole shareholder of Aqueous Offshore
Fund, SPC. resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


BALANCIA FUND: Creditors' Proofs of Debt Due Today
--------------------------------------------------
The creditors of Balancia Fund Ltd. are required to file their
proofs of debt by today, December 11, 2009, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 26, 2009.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          c/o Stuarts Walker Hersant
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888
          P.O. Box 2510, Grand Cayman KY1-1104
          Cayman Islands


BALANCIA MASTER: Creditors' Proofs of Debt Due Today
----------------------------------------------------
The creditors of Balancia Master Fund Ltd. are required to file
their proofs of debt by today, December 11, 2009, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on October 26, 2009.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          c/o Stuarts Walker Hersant
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888
          P.O. Box 2510, Grand Cayman KY1-1104
          Cayman Islands


CAYMAN LOAN: Commences Liquidation Proceedings
----------------------------------------------
On October 23, 2009, the sole shareholder of Cayman Loan Asset
Securitisation Scheme Limited resolved to voluntarily liquidate
the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


C-SYMBOL LTD: Commences Liquidation Proceedings
-----------------------------------------------
On October 29, 2009, the sole shareholder of C-Symbol Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


CENTERLINE CLO: Commences Liquidation Proceedings
-------------------------------------------------
On October 29, 2009, the sole shareholder of Centerline CLO Ltd.
2008-1 resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


CHRISTIE LTD: Placed Under Voluntary Wind-Up
--------------------------------------------
Christie, Ltd. commenced wind-up proceedings on October 29, 2009.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Telephone: (345) 914-6314
          Walker House, 87 Mary Street, George Town
          Grand Cayman, KY1-9005, Cayman Islands


CITIUS II: Commences Liquidation Proceedings
--------------------------------------------
On October 27, 2009, the sole shareholder of Citius II Funding,
Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


CRYSTAL FUNDING: Commences Liquidation Proceedings
--------------------------------------------------
On October 26, 2009, the shareholder of Crystal Funding Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


COLUMBUS INTERNATIONAL: Commences Liquidation Proceedings
---------------------------------------------------------
On October 19, 2009, the sole shareholder of Columbus
International Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


COMBINATION ASSET: Commences Liquidation Proceedings
----------------------------------------------------
On October 16, 2009, the sole shareholder of Combination Asset
Backed Securities Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


CONTEXT/TQA SPECIAL: Commences Wind-Up Proceedings
--------------------------------------------------
On October 28, 2009, the shareholders of Context/TQA Special
Opportunities Master Fund, Ltd. resolved to voluntarily liquidate
the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


CONTEXT/TQA GLOBAL: Commences Wind-Up Proceedings
-------------------------------------------------
On October 28, 2009, the shareholders of Context/TQA Global
Convertible Master Fund, Ltd. resolved to voluntarily liquidate
the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


DAVENPORT CDO: Commences Liquidation Proceedings
------------------------------------------------
On October 20, 2009, the sole shareholder of Davenport CDO I, Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


FIRST QUADRANT: Commences Liquidation Proceedings
-------------------------------------------------
On October 29, 2009, the sole shareholder of First Quadrant
Premier Fund, Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

          Mourant Cayman Liquidators, Ltd.
          c/o Mourant du Feu & Jeune
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647; or

          Mourant Cayman Liquidators, Ltd.
          c/o Peter Goulden
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647
          Harbour Centre, 42 North Church Street
          P.O. Box 1348, George Town
          Grand Cayman KY1-1108, Cayman Islands


FIRST QUADRANT: Commences Liquidation Proceedings
-------------------------------------------------
On October 29, 2009, the sole shareholder of First Quadrant
Premier Master Fund, Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

          Mourant Cayman Liquidators, Ltd.
          c/o Mourant du Feu & Jeune
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647; or

          Mourant Cayman Liquidators, Ltd.
          c/o Peter Goulden
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647
          Harbour Centre, 42 North Church Street
          P.O. Box 1348, George Town
          Grand Cayman KY1-1108, Cayman Islands


HALCYON POWER: Creditors' Proofs of Debt Due on December 14
-----------------------------------------------------------
The creditors of Halcyon Power Recovery Limited are required to
file their proofs of debt by December 14, 2009, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on October 29, 2009.

The company's liquidator is:

         David M.L. Roberts
         P.O. Box 1569, George Town
         Grand Cayman KY1-1110, Cayman Islands
         Telephone: (345) 949 4018
         Facsimile: (345) 949 7891
         email: general@caymanmanagement.ky


HFH SHORTPLUS: Commences Wind-Up Proceedings
--------------------------------------------
On October 21, 2009, the sole shareholder of HFH Shortplus Master
Fund Ltd. resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


KAIROS HEDGE: Placed Under Voluntary Wind-Up
--------------------------------------------
On October 20, 2009, the sole shareholder of Kairos Hedge Fund
Europe Ltd. resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Avalon Management Limited
         Telephone: (+1) 345 769 4422
         Facsimile: (+1) 345 769 9351
         Landmark Square
         1st Floor, 64 Earth Close
         West Bay Beach, PO Box 715, George Town
         Grand Cayman KY1-1107, Cayman Islands


OSPRAIE REAL: Creditors' Proofs of Debt Due Today
-------------------------------------------------
The creditors of Ospraie Real Return Fund Ltd are required to file
their proofs of debt by today, December 11, 2009, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on October 28, 2009.

The company's liquidator is:

          Ian Stokoe
          c/o Cathlin Rossiter
          Telephone: (345) 914 8663
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


OSPRAIE REAL: Creditors' Proofs of Debt Due Today
-------------------------------------------------
The creditors of Ospraie Real Return Portfolio Ltd are required to
file their proofs of debt by today, December 11, 2009, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on October 28, 2009.

The company's liquidator is:

          Ian Stokoe
          c/o Cathlin Rossiter
          Telephone: (345) 914 8663
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


OSPRAIE TRADING: Creditors' Proofs of Debt Due Today
----------------------------------------------------
The creditors of Ospraie Trading Ltd are required to file their
proofs of debt by today, December 11, 2009, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 28, 2009.

The company's liquidator is:

          Ian Stokoe
          c/o Cathlin Rossiter
          Telephone: (345) 914 8663
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


OSPRAIE VALUE: Creditors' Proofs of Debt Due Today
--------------------------------------------------
The creditors of Ospraie Value Ltd are required to file their
proofs of debt by today, December 11, 2009, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 28, 2009.

The company's liquidator is:

          Ian Stokoe
          c/o Cathlin Rossiter
          Telephone: (345) 914 8663
          Facsimile: (345) 945 4237
          PO Box 258, Grand Cayman KY1-1104
          Cayman Islands


PARADIGM GLOBAL: Commences Liquidation Proceedings
--------------------------------------------------
On October 30, 2009, the shareholders of Paradigm Global Fund
Limited resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Graham Robinson
         Telephone: (345) 949 7576
         Facsimile: (345) 949 8295
         P.O. Box 897, One Capital Place, George Town,
         Grand Cayman KY1-1103, Cayman Islands


SIGNATURE QSPE: Commences Liquidation Proceedings
-------------------------------------------------
On October 30, 2009, the sole shareholder of Signature QSPE
Limited resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Warren Keens
         c/o Stephen Roney
         Telephone: (345) 949 8455
         Facsimile: (345) 949 8499
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman, KY1-1102


SPM STRATEGIES: Placed Under Voluntary Wind-Up
----------------------------------------------
SPM Strategies Offshore, SPC commenced wind-up proceedings on
October 29, 2009.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

          Walkers Corporate Services Limited
          c/o Anthony Johnson
          Telephone: (345) 914-6314
          Walker House, 87 Mary Street, George Town
          Grand Cayman, KY1-9005, Cayman Islands


STEED FUND: Commences Liquidation Proceedings
---------------------------------------------
On October 6, 2009, the sole shareholder of Steed Fund SPC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by today
December 11, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Jamal Young
         Telephone: (345) 943-5700
         Facsimile: (345) 943-5711
         c/o Goldfield (Cayman) Corporate Services Ltd.
         Rankin's Plaza, 21 Eclipse Drive
         P.O. Box 10734, Grand Cayman KY1-1007
         Cayman Islands


STROME ALPHA: Commences Liquidation Proceedings
-----------------------------------------------
On October 30, 2009, the sole shareholder of Strome Alpha Master
Fund, Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

          Mourant Cayman Liquidators, Ltd.
          c/o Mourant du Feu & Jeune
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647; or

          Mourant Cayman Liquidators, Ltd.
          c/o Peter Goulden
          Telephone: (+1) 345 949 4123
          Facsimile: (+1) 345 949 4647
          Harbour Centre, 42 North Church Street
          P.O. Box 1348, George Town
          Grand Cayman KY1-1108, Cayman Islands


VET PARTNERS: Placed Under Voluntary Wind-Up
--------------------------------------------
Vet Partners Holdings Inc. commenced wind-up proceedings on
October 30, 2009.

Only creditors who were able to file their proofs of debt by
December 10, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

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


XILINX HOLDING: Commences Liquidation Proceedings
-------------------------------------------------
On October 19, 2009, the shareholders of Xilinx Holding Four
Limited resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
December 1, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Scott Hover-Smoot
         Alan G. de Saram
         Telephone: 949-4544
         Facsimile: 949-8460
         c/o Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


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


AES CORP: AES Dominicana Guarantees 600MW Power In Next 2 Months
----------------------------------------------------------------
Power company AES Dominicana said its units are operating to
guarantee around 600 megawatts during the next two months, with
the availability of natural gas and coal, the two fuels used by
energy group, Dominican Today reports.  The company is a local
unit of AES Corporation.  “We will be supplying energy to the
National Interconnected Electric System (SENI) with the same
quality we‘ve been providing throughout the year as shown in the
Coordinating Organism’s registry.  The AES Dominicana group has
contributed an average of 35% of all the energy placed in the
system during 2009,” the company said in a statement obtained by
the news agency.

According to the report, AES Dominicana’s generators are an
important sustenance of the SENI because the joint energy
production provides the frequency regulation service.  The report
relates that a tanker arrived with 131,000 cubic meters of liquid
natural gas to sustain operations in the AES plants at Andres, and
place the 105 MW of the Los Mina 6 at the SENI’s disposal.

AES Dominicana, the report notes, said both units will be in the
system at 100% capacity and provide the frequency regulation
service.  The report says that the company added that its Los Mina
unit will continue under periodic maintenance until the beginning
of next year, whereas to maintain its habitual contribution to the
SENI, its ITABO 1 and 2 units will also be permanently operating,
contributing an average of 236 megawatts.

                       About AES Corporation

The AES Corporation (NYSE:AES) -- http://www.aes.com/-- is one of
the world's largest global power companies, with 2007 revenues of
US$13.6 billion.  With operations in 29 countries on five
continents, AES's generation and distribution facilities have the
capacity to serve 100 million people worldwide.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
April 7, 2009, Fitch Ratings affirmed The AES Corporation's long-
term Issuer Default Rating at 'B+' with a Stable Rating Outlook.


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


AIR JAMAICA: Gov't Appears Ready for Divestment Process
-------------------------------------------------------
Following a series of setbacks it now appears that the government
is ready to make a decision on the future of the national airline
Air Jamaica Limited, RadioJamaica reports.  The report relates
that Finance Minister Audley Shaw has given the clearest signal
yet that the privatization of the air carrier is imminent.

"In relation to the divestment, the government remains committed
to divesting Air Jamaica and it is now at a stage where I can
indicate that a decision on the future of Air Jamaica is
imminent," the report quoted Mr. Shaw as saying.

According to the report, one of the unions representing Air
Jamaica workers says it's not holding out much hope that the
airline will be privatized soon.  The report relates National
workers Union, Vice President Granville Valentine, scoffed at the
Finance Minister's pronouncement regarding Air Jamaica's future.
"We are not informed that any sale is near. We have heard that
about ten times since this year.  We have heard that so many times
that we believe that if the government is ready and believe that
they are close then they need to have discussions with us
stakeholders, they need to inform us officially, address us
directly for us to have such confidence," the report quoted Mr.
Valentine as saying.

As reported in the Troubled Company Reporter-Latin America on
June 29, 2009, RadioJamaica News said the Jamaican government
indicated it will name a buyer for cash-strapped Air Jamaica.
Radio Jamaica said the airline has been hemorrhaging over US$150
million per annum and the government has had to foot the massive
bill.  In addition, Radio Jamaica said, Air Jamaica currently has
over US$600 million in loans outstanding.

                        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.


BAUXITE COMPANY, GUYANA: Workers End Two-Week Strike
----------------------------------------------------
Mining workers at the Russian-owned Bauxite Company of Guyana Inc.
returned to their jobs over the weekend ending a two-week strike
that the company said resulted in the loss of millions of dollars,
Jamaica Gleaner reports.

According to the report, the employees had been demanding an
increase in salaries as well as protesting the decision of the
bauxite company to lay off 75 workers.  The report relates that
plant owners UC Rusal had closed down operations temporarily as
the strike dragged on, having earlier claimed losses of up to
US$350 million over the first week.

BCGI, the report notes, said that it would keep the promises made
to workers to restart production and that it acknowledged the
"loyalty and courage of those workers who returned to mine sites".
The company also said it was "exploring all options to enhance the
yearend pay packet" to workers, the report says.

On November 22, the Gleaner recalls, workers at the company's
operations at Aroaima and Kwakwani downed tools following a
breakdown in negotiations.

The report adds that Guyana Bauxite and General Workers Union's
acting general secretary Leslie Gonsalves said that the union and
the company had agreed in principle that letters of suspension
which were given to employees would be withdrawn.


CABLE & WIRELESS: LIME Theft Leaves Customers Without Service
-------------------------------------------------------------
Lime (formerly Cable & Wireless Jamaica) said that cable theft and
major vandalism of critical equipment has left the company's
customers in sections of St. Ann and St. Mary without service,
RadioJamaica reports.

According to the report, LIME said that thieves removed several
critical pieces of the transmission equipment serving sections of
the eastern part of the North Coast.  The report relates that
investigations by the company's technical team have revealed that
at least 70 cell sites, 25 Outside Plant Modules, which are used
for landline service and 30 Digital Subscriber Line Access
Multiplexers, which are used for internet service, have been
affected by the vandalism.

Lime (formerly Cable & Wireless Jamaica) --
http://home.cwjamaica.com/-- is a provider of national and
international fixed line services.  The company is owned 82% by
Cable & Wireless plc. Cable & Wireless Jamaica also owns Jamaica
Digiport International Limited, a company which provides high
speed data and other telecommunications services exclusively to
freezone and offshore companies.

                     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.

                         *     *     *

According to Bloomberg data, 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 continues to Standard & Poor's "BB-"long-term foreign
and local issuer credit ratings and "B" short-term foreign and
local issuer credit ratings.


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


ASARCO LLC: Grupo Mexico to Pay US$1.79 Billion for Cleanup
-----------------------------------------------------------
Justin Blum and Cary O'Reilly at Bloomberg News report that Grupo
Mexico SA de C.V. agreed to pay US$1.79 billion for environmental
clean-up work at 80 sites across the U.S. once owned by its unit,
ASARCO LLC, that are contaminated with hazardous waste.  The
report relates the U.S. Environmental Protection Agency said that
the money will fund restoration work by federal and local agencies
at former ASARCO mining and metal-refining operations in 19
states, including a lead smelter in downtown Omaha, Nebraska, and
the Tri-State Mining District in Kansas, Missouri and Oklahoma.

According to the report, the payment is the largest cost recovery
in the history of the EPA’s superfund program.  The settlement
“will mean cleaner land, water and air for communities across the
country,” said Cynthia Giles, assistant administrator for the
EPA’s Office of Enforcement and Compliance Assurance.

Meanwhile, the report notes that cleaning ASARCO's Omaha site
alone will cost US$219 million, while remediation at the Coeur
d’Alene Work Trust in Idaho will cost US$436 million.  The report
relates that the money will also be used for sites in Arizona,
Alabama, Arkansas, California, Colorado, Illinois, Indiana,
Montana, New Jersey, New Mexico, Ohio, Texas, Utah and Washington.

           Grupo Mexico Completes Asarco Transaction

As reported in the Troubled Company Reporter-Latin America on
December 10, 2009, Grupo Mexico's subsidiary, Americas Mining
Corp. consummated its bankruptcy plan for ASARCO LLC, reuniting
ASARCO with its parent company.  The reintegration follows U.S.
District Court Judge Andrew S. Hanen's decision last month to
approve GMEXICO’s full payment reorganization plan for ASARCO,
concluding the company's four-year Chapter 11 proceeding.  The
court-approved plan, among other things, called for AMC to
make a US$2.2 billion cash contribution to ASARCO for distribution
to creditors, additionally disburse to creditors an estimated
US$1.4 billion in cash on hand from ASARCO’s balance sheet and
guarantee ASARCO’s issuance of a one-year promissory note for
US$280 million payable to the asbestos creditors.  To finance the
plan, a syndicate of internationally recognized financial
institutions has provided US$1.5 billion in financing to AMC.
GMEXICO contributed an additional US$700 million to fund the
US$2.2 billion cash contribution on the closing date.  The
completion of the bankruptcy plan results in the return of
full management and control of ASARCO to AMC, and the release of
AMC and GMEXICO from all bankruptcy-related claims.

                        About ASARCO LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  James R. Prince, Esq., Jack
L. Kinzie, Esq., and Eric A. Soderlund, Esq., at Baker Botts
L.L.P., and Nathaniel Peter Holzer, Esq., Shelby A. Jordan, Esq.,
and Harlin C. Womble, Esq., at Jordan, Hyden, Womble & Culbreth,
P.C., represent the Debtor in its restructuring efforts.  Paul M.
Singer, Esq., James C. McCarroll, Esq., and Derek J. Baker, Esq.,
at Reed Smith LLP give legal advice to the Official Committee of
Unsecured Creditors and David J. Beckman at FTI Consulting, Inc.,
gives financial advisory services to the Committee.

When ASARCO LLC filed for protection from its creditors, it listed
US$600 million in total assets and US$1 billion in total debts.

ASARCO LLC has five affiliates that filed for Chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos.
05-20521 through 05-20525).  They are Lac d'Amiante Du Quebec
Ltee, CAPCO Pipe Company, Inc., Cement Asbestos Products Company,
Lake Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Sander L.
Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka, APC, in
Dallas, Texas, represents the Official Committee of Unsecured
Creditors for the Asbestos Debtors.  Former judge Robert C. Pate
has been appointed as the future claims representative.  Details
about their asbestos-driven Chapter 11 filings have appeared in
the Troubled Company Reporter since April 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No. 05-
21346) also filed for Chapter 11 protection, and ASARCO has asked
that the three subsidiary cases be jointly administered with its
Chapter 11 case.  On October 24, 2005, Encycle/Texas' case was
converted to a Chapter 7 liquidation proceeding.  The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7 Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for Chapter 11
protection on December 12, 2006.  (Bankr. S.D. Tex. Case No.
06-20774 to 06-20776).

Six of ASARCO's affiliates, Wyoming Mining & Milling Co., Alta
Mining & Development Co., Tulipan Co., Inc., Blackhawk Mining &
Development Co., Ltd., Peru Mining Exploration & Development Co.,
and Green Hill Cleveland Mining Co. filed for Chapter 11
protection on April 21, 2008.  (Bank. S.D. Tex. Case No. 08-20197
to 08-20202).

Bankruptcy Creditors' Service, Inc., publishes ASARCO Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by ASARCO LLC and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)

                        About Grupo Mexico

Grupo Mexico SA de C.V. -- http://www.grupomexico.com/--
through its ownership of Asarco and the Southern Peru Copper
Company, Grupo Mexico is the world's third largest copper
producer, fourth largest silver producer and fifth largest
producer of zinc and molybdenum.

                           *     *     *

As of August 14, 2009, Grupo Mexico continues to carry Fitch
Ratings' BB+ Issuer Default ratings.


CEMEX SAB: Sells US$1.77 Billion Bonds Overseas
-----------------------------------------------
CEMEX, S.A.B. de C.V. has sold US$1.77 billion of bonds
denominated in dollars and euros as it seeks to repay loans from a
US$15 billion debt restructuring, Veronica Navarro Espinosa at
Bloomberg News reports, citing a person familiar with the
transaction.

According to the report, the company sold US$1.25 billion of
seven-year dollar bonds to yield 9.50% and EUR350 million
(US$515.7 million) of eight-year euro bonds to yield 9.625%.  The
report relates that the company boosted the size of the dollar
bond from US$1 billion and the euro bond from EUR300 million.

“The timing is clearly much better from a market point of view,
given the steep spread compression that has taken place since the
end of the first quarter of this year,” Andrew Belton and Charles-
Henri Boivin, analysts at CreditSights Inc., wrote in a report
obtained by the news agency.  “Cemex now has a much better credit
story to tell than it did at the end of February 2009,” he added.

As reported in the Troubled Company Reporter-Latin America on
December 9. 2009, Bloomberg News said Cemex SAB Chief Executive
Officer Lorenzo Zambrano is returning to the bond market nine
months after his failure to sell US$500 million of securities
forced him to extend payments on bank debt he took on to finance
Sydney-based Rinker Group Ltd. in 2007.   The report related
Francisco Suarez, an analyst at Mexico City-based brokerage
Actinver, said that the spending restraints that banks including
HSBC Holdings Plc and Banco Santander SA forced upon Cemex are
stifling Mr. Zambrano's goals of expanding again.

                       About Cemex SAB

CEMEX, S.A.B. de C.V. is a Mexican corporation, a holding company
of entities which main activities are oriented to the construction
industry, through the production, marketing, distribution and sale
of cement, ready-mix concrete, aggregates and other construction
materials.  CEMEX is a public stock corporation with variable
capital (S.A.B. de C.V.) organized under the laws of the United
Mexican States, or Mexico.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 19, 2009, Fitch Ratings has affirmed these ratings of
Cemex, S.A.B. de C.V.:

  -- Foreign currency Issuer Default Rating at 'B';

  -- Local currency IDR at 'B';

  -- Long-term national scale rating at 'BB-(mex)';

  -- MXN5 billion Certificados Bursatiles program at 'BB- (mex)';

  -- MXN30 billion Programa Dual Revolvente de Certificados
     Bursatiles program at 'BB-(mex)';

  -- Senior unsecured debt obligations at 'B+/RR3';

  -- Unsecured debt issued through the Certificados Bursatiles
     program at 'BB-(mex)';

  -- Short-term national scale rating at 'B (mex)';

  -- MXN2.5 billion short-term portion of Programa Dual Revolvente
     de Certificados Bursatiles program at 'B (mex)'.


GRUPO MEXICO: To Pay US$1.79 Billion for Asarco Cleanup
-------------------------------------------------------
Justin Blum and Cary O'Reilly at Bloomberg News report that Grupo
Mexico SA de C.V. agreed to pay US$1.79 billion for environmental
clean-up work at 80 sites across the U.S. once owned by its unit,
ASARCO LLC, that are contaminated with hazardous waste.  The
report relates the U.S. Environmental Protection Agency said that
the money will fund restoration work by federal and local agencies
at former ASARCO mining and metal-refining operations in 19
states, including a lead smelter in downtown Omaha, Nebraska, and
the Tri-State Mining District in Kansas, Missouri and Oklahoma.

According to the report, the payment is the largest cost recovery
in the history of the EPA’s superfund program.  The settlement
“will mean cleaner land, water and air for communities across the
country,” said Cynthia Giles, assistant administrator for the
EPA’s Office of Enforcement and Compliance Assurance.

Meanwhile, the report notes that cleaning ASARCO's Omaha site
alone will cost US$219 million, while remediation at the Coeur
d’Alene Work Trust in Idaho will cost US$436 million.  The report
relates that the money will also be used for sites in Arizona,
Alabama, Arkansas, California, Colorado, Illinois, Indiana,
Montana, New Jersey, New Mexico, Ohio, Texas, Utah and Washington.

           Grupo Mexico Completes Asarco Transaction

As reported in the Troubled Company Reporter-Latin America on
December 10, 2009, Grupo Mexico's subsidiary, Americas Mining
Corp. consummated its bankruptcy plan for ASARCO LLC, reuniting
ASARCO with its parent company.  The reintegration follows U.S.
District Court Judge Andrew S. Hanen's decision last month to
approve GMEXICO’s full payment reorganization plan for ASARCO,
concluding the company's four-year Chapter 11 proceeding.  The
court-approved plan, among other things, called for AMC to
make a US$2.2 billion cash contribution to ASARCO for distribution
to creditors, additionally disburse to creditors an estimated
US$1.4 billion in cash on hand from ASARCO’s balance sheet and
guarantee ASARCO’s issuance of a one-year promissory note for
US$280 million payable to the asbestos creditors.  To finance the
plan, a syndicate of internationally recognized financial
institutions has provided US$1.5 billion in financing to AMC.
GMEXICO contributed an additional US$700 million to fund the
US$2.2 billion cash contribution on the closing date.  The
completion of the bankruptcy plan results in the return of
full management and control of ASARCO to AMC, and the release of
AMC and GMEXICO from all bankruptcy-related claims.

                        About ASARCO LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection on August 9, 2005
(Bankr. S.D. Tex. Case No. 05-21207).  James R. Prince, Esq., Jack
L. Kinzie, Esq., and Eric A. Soderlund, Esq., at Baker Botts
L.L.P., and Nathaniel Peter Holzer, Esq., Shelby A. Jordan, Esq.,
and Harlin C. Womble, Esq., at Jordan, Hyden, Womble & Culbreth,
P.C., represent the Debtor in its restructuring efforts.  Paul M.
Singer, Esq., James C. McCarroll, Esq., and Derek J. Baker, Esq.,
at Reed Smith LLP give legal advice to the Official Committee of
Unsecured Creditors and David J. Beckman at FTI Consulting, Inc.,
gives financial advisory services to the Committee.

When ASARCO LLC filed for protection from its creditors, it listed
US$600 million in total assets and US$1 billion in total debts.

ASARCO LLC has five affiliates that filed for Chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos.
05-20521 through 05-20525).  They are Lac d'Amiante Du Quebec
Ltee, CAPCO Pipe Company, Inc., Cement Asbestos Products Company,
Lake Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Sander L.
Esserman, Esq., at Stutzman, Bromberg, Esserman & Plifka, APC, in
Dallas, Texas, represents the Official Committee of Unsecured
Creditors for the Asbestos Debtors.  Former judge Robert C. Pate
has been appointed as the future claims representative.  Details
about their asbestos-driven Chapter 11 filings have appeared in
the Troubled Company Reporter since April 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No. 05-
21346) also filed for Chapter 11 protection, and ASARCO has asked
that the three subsidiary cases be jointly administered with its
Chapter 11 case.  On October 24, 2005, Encycle/Texas' case was
converted to a Chapter 7 liquidation proceeding.  The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7 Trustee.

ASARCO's affiliates, AR Sacaton LLC, Southern Peru Holdings LLC,
and ASARCO Exploration Company Inc., filed for Chapter 11
protection on December 12, 2006.  (Bankr. S.D. Tex. Case No.
06-20774 to 06-20776).

Six of ASARCO's affiliates, Wyoming Mining & Milling Co., Alta
Mining & Development Co., Tulipan Co., Inc., Blackhawk Mining &
Development Co., Ltd., Peru Mining Exploration & Development Co.,
and Green Hill Cleveland Mining Co. filed for Chapter 11
protection on April 21, 2008.  (Bank. S.D. Tex. Case No. 08-20197
to 08-20202).

Bankruptcy Creditors' Service, Inc., publishes ASARCO Bankruptcy
News.  The newsletter tracks the Chapter 11 proceeding undertaken
by ASARCO LLC and its various affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)

                        About Grupo Mexico

Grupo Mexico SA de C.V. -- http://www.grupomexico.com/--
through its ownership of Asarco and the Southern Peru Copper
Company, Grupo Mexico is the world's third largest copper
producer, fourth largest silver producer and fifth largest
producer of zinc and molybdenum.

                           *     *     *

As of August 14, 2009, Grupo Mexico continues to carry Fitch
Ratings' BB+ Issuer Default ratings.


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


BANCO DE CREDITO: Finances Buenaventura HPP Construction
--------------------------------------------------------
Banco de Credito del Peru provided US$119 million (EUR80.8
million) in funding for local mining group Buenaventura's
construction of a hydroelectric power plant, Trading Market News
reports.

According to the report, the loan was extended to Buenaventura's
unit Empresa de Generacion Huanza.  The report relates that the 90
MW Huanza hydroelectric power plant is expected to be launched in
February 2013, almost three years after launching the project in
March 2010.

Banco de Credito del Peru is Peru's largest bank, with a
dominating market share of over 30% of deposits, and boasts
total consolidated assets of US$9.6 billion and equity of US$780
million as of June 30, 2006.  It is the principal operating
company within Credicorp, Peru's largest financial services
company, which controls 96.2% of Banco de Credito; Credicorp is
widely held by local and foreign institutional shareholders.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 10, 2009, Standard & Poor's Ratings Services said that it
affirmed its 'BB' subordinated debt rating on Banco de Credito del
Peru's US$250 million noncumulative fixed/floating-rate step-up
junior subordinated notes due 2069.  Proceeds from the issuance
will be used for general corporate purposes.


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


CL FINANCIAL: HCL CEO Separated From One Woodbrook Project
----------------------------------------------------------
Home Construction Ltd Chief Executive Officer Hayden Ameerali has
been separated from the company seventeen months after he was
appointed, Trinidad and Tobago Guardian reports.  Home
Construction Ltd is a subsidiary of the CL Financial Group whose
major project has been One Woodbrook Place.

According to the report, citing unnamed sources, CL Financial
Group Chief Executive Officer Steve Bideshi announced Mr.
Ameerali's separation from the company.  The report relates that
sources said civil engineering consultant Michael Paty would
replace Mr. Amerali’s.

Mr. Paty, the report notes, said that his company, Exeqtech, was
“definitely involved” at a high level in bringing the US$1 billion
OWP project to completion.  The report relates Exeqtech was asked
by the HCL Group to get involved in the project management of the
project at the beginning of November.

                      About CL Financial

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

                           *     *     *

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

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


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


CITGO PETROLEUM: To Cooperate Fully With CSB Investigation
----------------------------------------------------------
CITGO Petroleum Corporation disclosed that it appreciates the
thorough, ongoing investigation conducted by the US Chemical
Safety & Hazard Investigation Board and has already taken action
on the board's recommendations.  The company said it "holds
nothing in higher regard than the safety of our employees and
members of the local community."

Additionally, CITGO remains committed to fully cooperating with
the ongoing CSB investigation into the July 19 incident at the
CITGO Corpus Christi refinery and looks forward to reviewing the
findings of the full report.

The company's engineering calculations of the amounts of hydrogen
fluoride (HF) released were based upon and supported by thousands
of air monitoring samples taken by CITGO as well as the US
Environmental Protection Agency (EPA) and a rigorous mass balance.

Finally, by raising concerns to CSB's release of the incident
videos at this time to the public, the company said it "is simply
acting in good faith to maintain and preserve the security of our
refinery. Moreover, CITGO has provided these videos to all the
investigating agencies that requested them."

                     About Citgo Petroleum

Headquartered in Houston, Texas, Citgo Petroleum Corp. --
http://www.citgo.com/-- is owned by PDV America, an indirect,
wholly owned subsidiary of Petroleos de Venezuela S.A., the
state-owned oil company of Venezuela.

                           *     *     *

As reported in the Troubled Company Reporter on June 5, 2009,
Fitch Ratings affirmed the current ratings of CITGO Petroleum
Corporation but revised the company's Outlook to Negative from
Stable.

Fitch affirmed these ratings for CITGO:

  -- Issuer Default Rating at 'BB-';
  -- Senior Secured Credit Facility at 'BBB-';
  -- Secured Term Loan at 'BBB-';
  -- Fixed-Rate Industrial Revenue Bonds at 'BBB-'.


                            ***********

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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