TCRLA_Public/091222.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 22, 2009, Vol. 10, No. 252

                            Headlines



A R G E N T I N A

ARQUIDRY SA: Creditors' Proofs of Debt Due on March 22
BITZER ARGENTINA: Creditors' Proofs of Debt Due on March 23
DECOR GROUP: Creditors' Proofs of Debt Due on February 12
IMAGEN Y COMERCIALIZACION: Creditors' Claims Due on April 9
SAUCO ARGENTINA: Creditors' Proofs of Debt Due on March 10

SERVICIOS HORIZONTE: Creditors' Proofs of Debt Due on March 19
TELECOM ARGENTINA: U.S. SEC Probe Won't Delay Sale


B E R M U D A

PROTOSTAR LTD: Can Pay Lenders With Satellite Cash, Judge Says


B R A Z I L

BANCO KDB: Fitch Downgrades Individual Rating to 'E'
BANCO SANTOS: To Pay Back BRL270 Million to Creditors
CAMARGO CORREA: Taps Bankers on Possible Cimpor Bid, Jornal Says
COMPANHIA SIDERURGICA: Bids EUR5.6 Billion for Portugal's Cimpor
COMPANHIA SIDERURGICA: S&P Puts Ratings on CreditWatch Negative

JBS SA: Earnings Set to Triple on Convertible Debt Sale
GERDAU AMERISTEEL: Secures US$650MM Asset-Based Revolving Facility
MARFRIG ALIMENTOS: Gets European Union's OK to Buy Seara


C A Y M A N  I S L A N D S

ABN AMRO: Shareholders Receive Wind-Up Report
ACA AQUARIUS: Shareholders Receive Wind-Up Report
ANN FUNDING: Shareholders Receive Wind-Up Report
AQUEOUS OFFSHORE: Shareholders Receive Wind-Up Report
BANCAJA INTERNATIONAL: Shareholders Receive Wind-Up Report

BLACK MESA: Shareholders Receive Wind-Up Report
BLUECORR FUND: Shareholders Receive Wind-Up Report
BLUEMOUNTAIN CORRELATION: Shareholders Receive Wind-Up Report
BLUEMOUNTAIN GLOBAL: Shareholders Receive Wind-Up Report
C-SYMBOL: Shareholders Receive Wind-Up Report

CARRINGTON NIM: Shareholders Receive Wind-Up Report
CARRINGTON NIM: Shareholders Receive Wind-Up Report
CAYMAN LOAN: Shareholders Receive Wind-Up Report
CENTERLINE CLO: Shareholders Receive Wind-Up Report
CITIUS II: Shareholders Receive Wind-Up Report

COLUMBUS INTERNATIONAL: Shareholders Receive Wind-Up Report
COMBINATION ASSET: Shareholders Receive Wind-Up Report
CRYSTAL FUNDING: Shareholders Receive Wind-Up Report
DAVENPORT CDO: Shareholders Receive Wind-Up Report
DEALER ENHANCED: Shareholders Receive Wind-Up Report

HALCYON POWER: Shareholders to Receive Wind-Up Report on Dec. 30
KAIROS HEDGE: Shareholders Receive Wind-Up Report
MB PARTNERS: Shareholders Receive Wind-Up Report
MOON STONE: Shareholders Receive Wind-Up Report
PARADIGM GLOBAL: Shareholders Receive Wind-Up Report

PRISM TRADING: Shareholders Receive Wind-Up Report
ROULAC TRADING: Shareholders Receive Wind-Up Report
STEED FUND: Shareholder to Receive Wind-Up Report on December 14
WEST GATE: Shareholders Receive Wind-Up Report


C H I L E

SOCIEDAD CONCESIONARIA: Moody's Completes Review; Keeps Ba1 Rating
* CHILE: IDB OKs US$10MM Fund to Expand Microenterprise Financing


C O L O M B I A

PACIFIC RUBIALES: To List Shares on Colombian Stock Exchange
* COLOMBIA: IDB OKs US$53MM Loan to Build San Francisco-Mocoa Road


C O S T A  R I C A

* COSTA RICA: IMF to Provide Add'l SDR41.025MM for Disbursement


J A M A I C A

CABLE & WIRLESS: LIME to Resume Tele-Sales Program
SUGAR COMPANY OF JAMAICA: Incurs JM$24MM Loss to Metal Thieves


M E X I C O

CIMINO BROKERAGE: Can Use Cash Collateral of Prepetition Lenders
CIMINO BROKERAGE: U.S. Trustee Appoints 5-Member Creditors Panel
CIMINO BROKERAGE: Weather, Financial Woes Cued Chapter 11 Filing
CORPORACION GEO SAB: Reveals Guidance for FY2010
GRUPO POSADAS: S&P Affirms 'B+' Long-Term Corporate Credit Rating

GRUPO TMM: Taps BNY Mellon as Successor Depositary Bank


V E N E Z U E L A

CHRYSLER LLC: Old CarCo Wants to Abandon 8 Non-Debtor Units
PETROLEOS DE VENEZUELA: Debts to contractors Up Labor Disputes
U21 CASA DE BOLSA: Watchdog Intervenes, Closes Operations


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                         - - - - -


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


ARQUIDRY SA: Creditors' Proofs of Debt Due on March 22
------------------------------------------------------
Miguel Angel Tregob, the court-appointed trustee for Arquidry SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until March 22, 2010.

Mr. Tregob will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 10 in Buenos Aires, with the assistance of Clerk No.
19, 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:

         Miguel Angel Tregob
         Ecuador 1449


BITZER ARGENTINA: Creditors' Proofs of Debt Due on March 23
-----------------------------------------------------------
Miguel Angel Troisi, the court-appointed trustee for Bitzer
Argentina SACI's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 23, 2010.

Mr. Troisi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk
No. 18, 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:

         Miguel Angel Troisi
         Cerrito 146
         Argentina


DECOR GROUP: Creditors' Proofs of Debt Due on February 12
---------------------------------------------------------
Pedro Alfredo Valle, the court-appointed trustee for Decor Group
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until February 12, 2010.

Mr. Valle will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 2 in
Buenos Aires, with the assistance of Clerk No. 4, 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:

         Pedro Alfredo Valle
         Avenida de Mayo 1260
         Argentina


IMAGEN Y COMERCIALIZACION: Creditors' Claims Due on April 9
-----------------------------------------------------------
Mirta Alicia Hernandez, the court-appointed trustee for Imagen y
Comercializacion Inmobiliaria SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until April 9, 2010.

Ms. Hernandez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk No.
11, 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:

         Mirta Alicia Hernandez
         Viamonte 658
         Argentina


SAUCO ARGENTINA: Creditors' Proofs of Debt Due on March 10
----------------------------------------------------------
Francisco Jose Salto, the court-appointed trustee for Sauco
Argentina SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 10, 2010.

Mr. Salto will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 19
in Buenos Aires, with the assistance of Clerk No. 37, 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:

         Francisco Jose Salto
         Avenida Cordoba 1351
         Argentina


SERVICIOS HORIZONTE: Creditors' Proofs of Debt Due on March 19
--------------------------------------------------------------
Monica Graciela Aquim, the court-appointed trustee for Servicios
Horizonte SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 19, 2010.

Ms. Aquim will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 5 in
Buenos Aires, with the assistance of Clerk No. 10, 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:

         Monica Graciela Aquim
         Uruguay 662


TELECOM ARGENTINA: U.S. SEC Probe Won't Delay Sale
--------------------------------------------------
Telecom Italia SpA Chief Executive Franco Bernabe confirmed the
Italian phone group has been notified of a probe by the U.S.
Securities and Exchange Commission on Telecom Argentina SA, Dow
Jones Newswires reports.  Mr. Bernabe, the report relates, said
that Telecom Italia is calm about the probe and it won't delay the
planned sale of Telecom Italia's stake in the Argentinean group.

"We have acknowledged the SEC probe and we're meeting their
requests," the report quoted Mr. Bernabe as saying.  The probe is
more concerned with "the Argentinean side of the operations," he
added.

Mr. Beranbe, the report relates, said that "From our side the
running of Telecom Argentina has always been based on maximum
transparency."  The SEC probe is aimed at guaranteeing equal
treatment of all of Telecom Argentina's shareholders, he added.

As reported in the Troubled Company Reporter-Latin America on
August 28, 2009, Dow Jones Newswires said that Argentina's
National Antitrust Commission has given Telecom Italia one year to
divest its stakes in Telecom Argentina, due to a conflict of
interest.  According to the report, CNDC said that Spain's
Telefonica SA's minority stake in Telecom Italia creates a
conflict between the two companies' Argentine operations.  The
report related that Telefonica owns Telefonica Argentina, which
shares an effective duopoly over the Argentine telecommunications
sector with Telecom.

                    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


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


PROTOSTAR LTD: Can Pay Lenders With Satellite Cash, Judge Says
--------------------------------------------------------------
Law360 reports that a bankruptcy judge has approved ProtoStar
Ltd.'s proposal to distribute part of $195 million in proceeds
from the sale of a satellite to its lenders, but for now has
denied the bankrupt aerospace company's request to use the money
to pay down unsecured claims.

Hamilton, HM EX, Bermuda-based ProtoStar Ltd. is a satellite
operator formed in 2005 to acquire, modify, launch and operate
high-power geostationary communication satellites for direct-to-
home satellite television and broadband internet access across the
Asia-Pacific region.

The Company and its affiliates filed for Chapter 11 on July 29,
2009 (Bankr. D. Del. Lead Case No. 09-12659).  The Debtor selected
Pachulski Stang Ziehl & Jones LLP as Delaware counsel; Law Firm of
Appleby as their Bermuda counsel; UBS Securities LLC as financial
advisor & investment banker and Kurtzman Carson Consultants LLC as
claims and noticing agent. The Debtors have tapped UBS Securities
LLC as investment banker and financial advisor.  In their
petition, the Debtors listed between US$100 million and
US$500 million each in assets and debts.  As of December 31, 2008,
ProtoStar's consolidated financial statements, which include non-
debtor affiliates, showed total assets of US$463,000,000 against
debts of US$528,000,000.


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


BANCO KDB: Fitch Downgrades Individual Rating to 'E'
----------------------------------------------------
Fitch Ratings has placed these ratings for Banco KDB do Brasil
S.A. on Rating Watch Negative:

  -- Long-Term Foreign and Local Currency Issuer Default Ratings
     'BBB';


  -- Short-Term Foreign and Local Currency IDRs 'F3';

  -- Support Rating '2';

  -- National Long-Term Rating 'AAA(bra)';

  -- National Short-Term Rating 'F1+(bra)'.

In addition, Fitch downgrades KDBB's Individual rating to 'E' from
'D/E'.

The placement on Rating Watch Negative of KDBB's Support rating,
IDRs and National ratings reflects Fitch's concerns with the
continuing deterioration of the capitalization of the entity and
the ongoing delay in action by KDBB's parent company, Korean
Development Bank (KDB, rated 'A+/F1'; Support '1'; Support floor
'A+' with a Stable Rating Outlook), to address its Brazilian
subsidiary's breach of local capital regulations.  Fitch
understands that the bank is in ongoing discussions with the
Brazilian Central Bank about alternative approaches for addressing
the breach of local minimum capital requirements.  The agency
expects to resolve the Rating Watch Negative in the next three to
six months, during which the entity will face the new deadline
established by the Central Bank for KDBB to comply with minimum
local capital ratios.  Clear action to bring KDBB back into
compliance with local capital minimum requirements and to ensure
adequate capitalization on an ongoing basis could lead to the
ratings on Rating Watch Negative returning to a Stable Outlook.
Conversely, lack of such action could lead to a significant
lowering of the Support Rating which, in turn, would lead to a
significant lowering of the IDRs and National ratings.

The downgrade of KDBB's Individual Rating reflects continued
deterioration of the bank's capitalization, which has fallen below
local regulatory minimum requirements.  The bank's small franchise
limits its capacity to generate profits and rebuild capital on its
own, and recent losses have eroded capitalization further.
Recapitalization of the local entity depends on the ongoing
support of its parent, as described above.

KDB, the parent bank, is controlled by the Korean Government and
conducts an important role in development financing for Korean
companies.  In a press release dated November 2009, Fitch
mentioned the importance of the bank for the Korean government as
well as how guarantees would work after a majority stake is sold.
KDB's obligations are guaranteed by the Korean government under
the KDB Act, which legally requires the government to fund any
losses incurred by KDB in excess of the bank's own reserves (the
solvency guarantee).  Given that KDB is in a privatization
process, when the government effectively sells any stake in KDB
(as intended to happen before May 2014), an additional separate
guarantee for KDB's existing long-term foreign currency debts
until they mature (subject to a yet-to-be-set limit, albeit
expected to be sufficient to cover all such debts) should be
provided.  However, the existing solvency guarantee will be
rescinded when Government sells a majority stake.  As such, long-
term foreign currency debt issued after the initial stake sale of
KDB, and which are set to mature after the bank is more than 50%
sold, will not be guaranteed.  The government may provide separate
specific guarantees for such debt under article 18-2 of the
revised KDB Act.

KDBB's total capital ratio made up of Tier I only, reached 7.31%
in June 2009 but has further deteriorated to 6.75% in September
2009, as per information disclosed to the market by the Brazilian
Central Bank (In December 2008 it was 11.2%).  Therefore, KDB
Brasil's total capital ratio is well below the minimum required by
the Brazilian Authorities which is 11%, and continues to
deteriorate given recent losses.  In 2008, management informed
that shareholder would make a capital injection in order to
enhance capital adequacy ratios, but the decision has been
postponed temporarily due to the worsening of the global financial
turmoil.  Since then, no further information has been disclosed by
the bank.  A new waiver was provided by the Brazilian Central Bank
so that they have to be compliant by no later than May 2010.

KDBB's recent results were poor with a net loss of BRL14 million,
hurt by provisions for losses in their investment in credit-linked
notes (which represent 17% of its securities), issued by small
banks, backed up by small and medium-sized companies.  Its loan
book is small and concentrated in subsidiaries of Korean large
companies.  Results would have been even lower it if was not for
the reversion on social contribution tax of BRL9.8 million.  As a
result, tax credits increased significantly and now respond for
17% of total equity.

Located in Sao Paulo, KDBB is fully owned by KDB.  Established in
Brazil in 2005, the bank is engaged in financing Korean companies
and in trading activities and has one branch in Sao Paulo.  At
June 2009, the bank assets totaled BRL1,104 billion, and its
equity amounted to BRL67.9 million.


BANCO SANTOS: To Pay Back BRL270 Million to Creditors
-----------------------------------------------------
Banco Santos SA will pay back BRL270 million (US$151.5 million) or
10% of what it owes to 1,982 of its general unsecured creditors by
mid-January, Fabiola Moura at Bloomberg News reports, citing Valor
Economico.

According to the report, Valor said that Banco Santos' inflation-
adjusted debt totals BRL3.19 billion.  The report recalls that
Brazil's central bank took over Banco Santos's management in
December 2004.  Valor, the report notes, said Judicial
Administrator Vanio Aguiar said that the bank, which went bankrupt
in 2005, has already paid back its BRL51 million tax and labor
debts.

Banco Santos SA is a Brazilian commercial bank.


CAMARGO CORREA: Taps Bankers on Possible Cimpor Bid, Jornal Says
----------------------------------------------------------------
Camargo Correa Cimentos SA hired Merrill Lynch & Co. and Credit
Suisse Group AG to help it on a possible bid for Portuguese cement
producer Cimpor-Cimentos de Portugal SGPS SA, Jim Silver at
Bloomberg News reports, citing Jornal de Negocios .

According to the report, the local newspaper said that the company
also hired a Portuguese law firm, Vieira de Almeida & Asociados,
and a public relations company.

As reported in the Troubled Company Reporter-Latin America on
December 8, 2009, Bloomberg News said that Camargo Correa SA and
Votorantim are interested in investing in Cimpor-Cimentos de
Portugal.  According to the report, the investment bankers
representing the Brazilian companies met with leading Cimpor
shareholders to determine if they're willing to sell shares
in the Portuguese cement company.  The report related that
Votorantim and Camargo Correa would invest independently of one
another.

                      About Camargo Correa

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 and its
special-purpose vehicle CCSA Finance Limited:

  -- Foreign currency Issuer Default Rating 'BB';
  -- Local currency IDR 'BB';


COMPANHIA SIDERURGICA: Bids EUR5.6 Billion for Portugal's Cimpor
----------------------------------------------------------------
Companhia Siderurgica Nacional S.A. offered to buy Portuguese
cement producer Cimpor for EUR3.86 billion (US$5.6 billion) as the
steelmaker slowly diversifies from its core business outside its
home base, Reuters reports.  The report relates that the bid
underscores efforts by CSN's Chief Executive Benjamin Steinbruch
to grow in areas other than steel and mining.

"This is a purchase for the long term. That's the way they see
it," the report quoted Pedro Galdi, who covers steel, mining and
construction for Sao Paulo-based brokerage SLW Corretora, as
saying.  "Europe is doing badly now, but it probably won't within
the next five or so years," he added.

According to Reuters, under terms of the unsolicited cash bid, CSN
offered to pay holders of Cimpor's 672 million shares EUR5.75
euros.  The report relates that the offer is about 10% bigger than
the average share price of Cimpor's stock over the past 30 days.

CSN Managing Director Juarez Avelar told Reuters the company
expects little difficulty in buying the stake.  The company
considers the price for Cimpor fair and would not enter into a
bidding war for the stake, he added.

Reuters notes that Cimpor has net debt of EUR1.8 billion.

According to the report, analysts said that Mr. Steinbruch's
appetite for risky acquisitions as well as his record of long
shareholder disputes with partners may make investors wary about
the Cimpor plan.

CSN, the report discloses, said after the bid was unveiled that it
would fund the Cimpor takeover through cash on hand and bank
loans.  Assuming Cimpor's debt, Reuters relates, CSN might have to
pay a total US$8.1 billion, which JPMorgan Chase analysts said may
be "a step that is just too large to be taken now."

                            About CSN

Headquartered Sao Paolo, Brazil, Companhia Siderurgica Nacional
S.A. (NYSE: SID) -- http://www.csn.com.br/-- produces, sells,
exports and distributes steel products, like hot-dip galvanized
sheets, tin mill products and tinplate.  The company also runs its
own iron ore, manganese, limestone and dolomite mines and has
strategic investments in railroad companies and power supply
projects.  The group also operates in Brazil, Portugal, and the
U.S.

                           *     *     *

As of July 1, 2009, the company continues to carry Moody's
Currency LT Debt ratings at Ba1.  The company also continues to
carry Standard and Poor's Issuer credit ratings at BB+.


COMPANHIA SIDERURGICA: S&P Puts Ratings on CreditWatch Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings
on Companhia Siderurgica Nacional on CreditWatch with negative
implications.  On completion of S&P's review, S&P could either
affirm the ratings, including affirming the 'BB+' corporate credit
rating, or lower them by one notch.

The CreditWatch placement came after CSN announced an unsolicited
proposal to acquire Portugal-based cement producer Cimpor Cimentos
de Portugal S.G.P.S. S.A. (BBB-/Stable/A-3).

"The negative implications of this placement reflect the
uncertainties regarding Cimpor's final price for the acquisition
and the impact of the transaction funding on CSN's capital
structure," said Standard & Poor's credit analyst Flavia Bedran.
"On the other hand, the acquisition would increase CSN's business
diversification and strengthen its cement production, which is
ramping up in Brazil on the group's scale advantages and its
international presence."

S&P's current ratings on CSN reflect the company's aggressive
financial policy, including its significant capital expenditure
program and sizable dividend distribution historically; its
exposure to the volatile and cyclical demand and pricing for raw
materials and finished products; and increasing competition in the
domestic market.

These risks are partially offset by the company's more diversified
mix of products compared with peers and its own past mix, strong
market position in Brazil, and cost advantages associated with
integrated production of steel and high-quality iron ore.
Increasing iron ore production is also a positive.

Moreover, CSN's significant cash position mitigates the
refinancing risks of its substantial gross debt.  Management's
fast downward adjustment in production in response to weaker
operating conditions has helped the company protect its credit
measures and maintain adequate profitability.

"We expect to resolve the CreditWatch on CSN as soon as S&P has a
clear view of how the acquisition's price will affect CSN's
financial profile," said Ms. Bedr n.

S&P's initial assessment of the impact indicates that S&P could
keep the rating on the company at 'BB+' lower it by 1 notch, to
'BB'.

The completion of the deal is still subject to the agreement of
current shareholders to sell at least 50% plus one of Cimpor's
stakes, which is indispensable for CSN complete the deal, and to
the European Antitrust authorities' approval.


JBS SA: Earnings Set to Triple on Convertible Debt Sale
-------------------------------------------------------
JBS SA's planned sale of US$2 billion in convertible bonds to
finance the acquisition of Pilgrim's Pride Corp. and Bertin SA may
help triple the profit company's profit next year, Paulo
Winterstein and Lucia Kassai at Bloomberg News report, citing
Legg Mason Inc.

As reported in the Troubled Company Reporter-Latin America on
December 16, 2009, Bloomberg News said that JBS SA plans to sell
US$2 billion of convertible bonds to help pay for its planned
acquisitions and said it's in "advanced talks" with a
potential investor.  The report related the company, citing a
regulatory filing, said that the bonds will be convertible into
20% to 25% of the shares in JBS's U.S. unit, JBS USA, LLC.  The
investor may buy all the bonds and the deal may be announced in
the next few days, the company added.

"The acquisitions of Pilgrim's Pride and Bertin SA, these are
massively accretive," the report quoted Jorge Mauro, an analyst at
Legg Mason's Esemplia Emerging Markets in London, as saying.
After a "difficult" year for sales in 2009, "if you normalize 2010
and add all the acquisitions, on an EPS basis you could easily see
it double or triple next year," Mr. Mauro added.

According to Bloomberg News, JBS earned 12 centavos a share in the
second quarter after two quarters of losses; while profit slipped
to 11 centavos a share in the July-to-September period.  The
report relates that the company's earnings per share was as high
as 49 centavos in the third quarter of 2008 after JBS reported
gains of BRL423.9 million from currency trades.  JBS has 2.28
billion reais ($1.28 billion) of bonds outstanding now, according
to data compiled by Bloomberg.

Meanwhile, Fausto Gouveia, who oversees 200 million reais in
investments for Legan Asset Management, told the news agency in a
telephone interview that "the level of debt is frightening and at
this pace of acquisitions the company will likely increase debt
even more in the future."

However, Bloomberg News notes that Jerry O'Callaghan, the director
of investor relations, said that JBS considers debt levels at two
to three times earnings as "comfortable because it allows us to
grow in a healthy way."   The report relates that the company
expects to cut costs by BRL500 million a year with the integration
of Bertin SA and by another US$200 million a year with Pilgrim's
Pride.

The report, citing Moody's Investors Service and Standard &
Poor's, relates that the bond sale, which will lift the company's
long-term debt to about six times Ebitda, probably won't harm the
company's credit rating.

A company filing, the report adds, said that should the IPO of JBS
USA fail, the bonds will be converted into JBS SA shares.

                           About JBS SA

JBS SA is one of the world's largest beef producers with
operations in Brazil, the United States, Argentina, Australia and
Italy.  The company is the largest producer and exporter of fresh
meat and meat by-products in Brazil, Argentina and Australian and
the third largest in the USA.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 18, 2009, Standard & Poor's Ratings Services placed its
ratings, including the 'B+' corporate credit ratings, on meat-
processing companies JBS S.A and JBS USA LLC on CreditWatch with
positive implications.


GERDAU AMERISTEEL: Secures US$650MM Asset-Based Revolving Facility
------------------------------------------------------------------
Gerdau Ameristeel Corporation entered into a new US$650 million
senior secured asset-based revolving credit facility.  This
facility replaces the company's existing US$950 million asset-
based credit facility that would have matured in October 2010.
The new facility is scheduled to mature on December 21, 2012 and
is secured by the company's cash, accounts receivable, inventory
and other personal property other than equipment and real estate.

In additional, the company intends to prepay on December 30, 2009
US$175 million of its outstanding Tranche A term debt and US$125
million of its outstanding Tranche C term debt with cash.  This
will reduce the Company's outstanding debt to approximately Us$2.4
billion.

                      About Gerdau Ameristeel

Headquartered in Tampa, Florida, Gerdau Ameristeel Corporation
(NYSE: GNA; TSX: GNA.TO) -- http://www.ameristeel.com/-- is a
mini-mill steel producer in North America.  The company's products
are sold to steel service centers, steel fabricators, or directly
to original equipment manufactures for use in a variety of
industries, including construction, cellular and electrical
transmission, automotive, mining and equipment manufacturing.

                          *     *     *

As reported in the Troubled Company Reporter on April 20, 2009,
Standard & Poor's Ratings Services placed its ratings, including
its 'BB+' corporate credit rating, on Tampa, Florida-based Gerdau
Ameristeel Corp. on CreditWatch with negative implications.


MARFRIG ALIMENTOS: Gets European Union's OK to Buy Seara
--------------------------------------------------------
Marfrig Alimentos SA (formerly known as Marfrig Frigoroficos e
Comercio de Alimentos) received European Union regulatory approval
for its takeover of local poultry export company Seara Alimentos
Ltda, Bate Felix at Reuters reports.

According to the report, the European Commission said that even
though the two companies had overlaps, the merged entity would
continue to face several effective competitors with considerable
market share.  "After examining the operation, the Commission
concluded that the transaction would not significantly impede
effective competition in the European Economic Area or any
substantial part of it," the EU executive said in a statement
obtained by the news agency.

As reported in the Troubled Company Reporter-Latin America on
September 16, 2009, Dow Jones Newswires said that Marfrig
Alimentos SA agreed to acquire Cargill Inc.'s Brazilian business,
for US$900 million in cash and assumed debt, a move to bolster the
company's poultry and pork businesses while opening up better
access to markets such as the U.K. and Japan.  According to the
report, Marfrig said it will Seara Alimentos for US$706.2
million in cash and US$193.8 million in assumed debt.  The report
related that Mafrig Alimentos said that it may sell new shares in
order to finance the acquisition.

                    About Marfrig Alimentos

Brazil-based Marfrig Alimentos SA (formerly known as Marfrig
Frigoroficos e Comercio de Alimentos) processes beef, pork, lamb,
and poultry; and produces frozen vegetables, canned meats, fish,
ready meals, and pasta.  The company operates in Southern America,
the united states, and Europe.

                          *     *     *

As of August 13, 2009, the company continues to carry these low
ratings from the major rating agencies:

  -- Moody's "B1" LT Corp Family Rating;
  -- Standard and Poor's "B+" LT Foreign Issuer Credit
     rating; and
  -- Fitch ratings' "B+" LT Issuer Credit ratings


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


ABN AMRO: Shareholders Receive Wind-Up Report
---------------------------------------------
On December 14, 2009, the shareholders of ABN Amro SAS Series 2
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


ACA AQUARIUS: Shareholders Receive Wind-Up Report
-------------------------------------------------
On December 14, 2009, the shareholders of ACA Aquarius 2006-1,
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


ANN FUNDING: Shareholders Receive Wind-Up Report
------------------------------------------------
On December 15, 2009, the shareholders of Ann Funding Three Co.,
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


AQUEOUS OFFSHORE: Shareholders Receive Wind-Up Report
-----------------------------------------------------
On December 11, 2009, the shareholders of Aqueous Offshore Fund,
SPC. 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


BANCAJA INTERNATIONAL: Shareholders Receive Wind-Up Report
----------------------------------------------------------
On December 11, 2009, the shareholders of Bancaja International
Finance received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


BLACK MESA: Shareholders Receive Wind-Up Report
-----------------------------------------------
On December 15, 2009, the shareholders of The Black Mesa Fund,
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


BLUECORR FUND: Shareholders Receive Wind-Up Report
--------------------------------------------------
On December 17, 2009, the shareholders of Bluecorr Fund Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


BLUEMOUNTAIN CORRELATION: Shareholders Receive Wind-Up Report
-------------------------------------------------------------
On December 17, 2009, the shareholders of Bluemountain Correlation
Relative Value Fund II Ltd. received the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


BLUEMOUNTAIN GLOBAL: Shareholders Receive Wind-Up Report
--------------------------------------------------------
On December 17, 2009, the shareholders of Bluemountain Global
Value Fund Ltd. received the liquidator's report on the company's
wind-up proceedings and property disposal.

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: Shareholders Receive Wind-Up Report
---------------------------------------------
On December 14, 2009, the shareholders of C-Symbol Ltd. received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


CARRINGTON NIM: Shareholders Receive Wind-Up Report
---------------------------------------------------
On December 14, 2009, the shareholders of Carrington NIM 2005-OPT1
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


CARRINGTON NIM: Shareholders Receive Wind-Up Report
---------------------------------------------------
On December 14, 2009, the shareholders of Carrington NIM 2005-NC1
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


CAYMAN LOAN: Shareholders Receive Wind-Up Report
------------------------------------------------
On December 14, 2009, the shareholders of Cayman Loan Asset
Securitisation Scheme Limited received the liquidator's report on
the company's wind-up proceedings and property disposal.

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: Shareholders Receive Wind-Up Report
---------------------------------------------------
On December 17, 2009, the shareholders of Centerline CLO Ltd.
2008-1 received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


CITIUS II: Shareholders Receive Wind-Up Report
----------------------------------------------
On December 14, 2009, the shareholders of Citius II Funding, Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


COLUMBUS INTERNATIONAL: Shareholders Receive Wind-Up Report
-----------------------------------------------------------
On December 14, 2009, the shareholders of Columbus International
Ltd. received the liquidator's report on the company's wind-up
proceedings and property disposal.

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: Shareholders Receive Wind-Up Report
------------------------------------------------------
On December 17, 2009, the shareholders of Combination Asset Backed
Securities Ltd. received the liquidator's report on the company's
wind-up proceedings and property disposal.

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: Shareholders Receive Wind-Up Report
----------------------------------------------------
On December 17, 2009, the shareholders of Crystal Funding Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


DAVENPORT CDO: Shareholders Receive Wind-Up Report
--------------------------------------------------
On December 14, 2009, the shareholders of Davenport CDO I, Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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

DEALER ENHANCED: Shareholders Receive Wind-Up Report
----------------------------------------------------
On December 14, 2009, the shareholders of Dealer Enhanced
Receivables Company received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


HALCYON POWER: Shareholders to Receive Wind-Up Report on Dec. 30
----------------------------------------------------------------
The shareholders of Halcyon Power Recovery Limited will receive on
December 30, 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 M.L. Roberts
         PO Box 1569, Grand Cayman KY1-1110
         Cayman Islands
         Telephone: 949 4018
         Facsimile: 949 7891
         e-mail: general@caymanmanagement.ky


KAIROS HEDGE: Shareholders Receive Wind-Up Report
-------------------------------------------------
On December 14, 2009, the shareholders of Kairos Hedge Fund Europe
Ltd. 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


MB PARTNERS: Shareholders Receive Wind-Up Report
------------------------------------------------
On December 18, 2009, the shareholders of MB Partners (Overseas),
Ltd received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 949 1040
         Facsimile: (345) 949 1048
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


MOON STONE: Shareholders Receive Wind-Up Report
-----------------------------------------------
On December 4, 2009, the shareholders of Moon Stone Ltd. received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Fidutec Ltd.
         Teachers Cooperative Savings Bldg
         Mesolongiou Street, Flat 34
         Limassol 3032, Cyprus


PARADIGM GLOBAL: Shareholders Receive Wind-Up Report
----------------------------------------------------
On December 14, 2009, the shareholders of Paradigm Global Fund
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

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


PRISM TRADING: Shareholders Receive Wind-Up Report
--------------------------------------------------
On December 11, 2009, the shareholders of Prism Trading Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street
         George Town, P.O. Box 1348
         Grand Cayman KY1-1108, Cayman Islands


ROULAC TRADING: Shareholders Receive Wind-Up Report
---------------------------------------------------
On December 11, 2009, the shareholders of Roulac Trading Company
Limited received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street
         George Town, P.O. Box 1348
         Grand Cayman KY1-1108, Cayman Islands


STEED FUND: Shareholder to Receive Wind-Up Report on December 14
----------------------------------------------------------------
On December 14, 2009, the shareholder of Steed Fund SPC received
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Jamal Young
         Telephone: (345) 943-5700
         Facsimile: (345) 943-5711


WEST GATE: Shareholders Receive Wind-Up Report
----------------------------------------------
On December 11, 2009, the shareholders of West Gate Strategic
Income Fund I, Ltd. received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Mourant Cayman Liquidators, Ltd.
         Harbour Centre, Third Floor
         42 North Church Street
         George Town, P.O. Box 1348
         Grand Cayman KY1-1108, Cayman Islands


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


SOCIEDAD CONCESIONARIA: Moody's Completes Review; Keeps Ba1 Rating
------------------------------------------------------------------
Moody's Investors Service has completed the review of the rating
on Sociedad Concesionaria Vespucio Norte Express S.A.  Moody's
confirmed the Ba1 rating and changed the outlook to negative.  The
rating was downgraded on September 14, 2009, to Ba1 from Baa3 and
put on review for further downgrade.  The review period focused on
assessing the project's liquidity and traffic and revenue
projections through the anticipated period of continued stress on
debt service coverage levels.

The rating change in September stemmed primarily from the
company's lower than anticipated financial results resulting from
traffic figures that continue to below original projections.  The
debt service coverage by net revenues of the project for 2009 --
comprised of the June 15 and December 15 payments -- was around
0.70x, and the company used cash on hand derived from surpluses in
prior periods to meet the debt service requirements.

The project has significant liquidity comprised of a 12-month debt
service reserve account, contingent equity commitments from the
sponsors and the cash that has accumulated from surpluses in prior
periods.  Together, the funds are sufficient to support the
payment of full debt service, at the same level that was needed in
2009, beyond the anticipated period of stress on the company's
financials.

Recovery of traffic and revenue is expected in the next 2 to 3
years, given the opening by the Ministry of Public Works of the
San Cristobal Tunnel in March of this year, and the construction
of its southern accesses which are the responsibility of another
concessionaire and which are important feeder points to VNE.

VNE comprises the northwest portion of the vital ring of toll
roads around Santiago, and as such would reasonably be expected to
carry similar traffic as the other three portions of the loop
(Autopista Central, Costanera Norte, and Vespucio Sur) once the
access issues are resolved.  In addition, management is expected
to continue its efforts to raise additional revenue through
enforcement efforts, which have already generated additional
revenues compared to the previous year.

The negative outlook indicates Moody's belief that the situation,
with regards to the road's ability to meet debt service still has
downward pressures over an 18 to 24 month horizon, despite the
gradual improvement that is expected to occur.  The liquidity
present in the transaction assuages concerns about a more eminent
problem in meeting its debt service requirements.


* CHILE: IDB OKs US$10MM Fund to Expand Microenterprise Financing
-----------------------------------------------------------------
The Inter-American Development Bank has approved a US$10 million
credit guarantee to help up to 80,000 small entrepreneurs get
access to loans under an innovative program provided by Chile's
Banco de Credito e Inversiones.

BCI will apply new management and credit technologies for the
program.  It will partner with some of its own corporate clients
who have large distribution networks and micro entrepreneurial
client bases.  It will also provide training to extend financial
services to businesses operated by owners with low incomes who
typically are excluded from the country's financial system.

BCI Nova Banca Emergente, a separate unit, will carry out the
program.

The program will focus primarily on the Chilean capital, Santiago,
where one quarter of Chile's microenterprises are located, and
provide 40% of the metropolitan area's employment. Around one
million people in Santiago remain unbanked.  More than 60% of
Chile's microentrepreneurs are estimated to lack access to bank
credit.

The IDB's credit guarantee, with resources from the Bank's
Opportunities for the Majority initiative, will be denominated in
Chilean pesos.  A US$600,000 grant from the IDB's Multilateral
Investment Fund will support the training component of the program
and the formation of strategic alliances with corporate and other
partners.

"BCI, with IDB support, will contribute to extend financial
democracy to an underserved market through the full use of modern
technologies and the development of new business tools, applied in
conjunction with strategic partners," said Luiz Ros, manager of
the Opportunities for the Majority initiative.  "This will have a
real impact on the lives of thousands of small businesses."

BCI will work with corporate suppliers to obtain credit histories
and background information needed to decide loan applications by
small business owners.

The project includes several other innovative tools, such as
electronic payments, online collection, specialized training for
bank personnel and mobile classrooms to extend financial literacy
to borrowers.


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


PACIFIC RUBIALES: To List Shares on Colombian Stock Exchange
------------------------------------------------------------
Pacific Rubiales Energy Corp. has received approval from the
Superintendencia Financiera de Colombia, the Colombian regulatory
entity in charge of supervising public issuers, for the listing of
its shares on La Bolsa de Valores de Colombia.  Pacific Rubiales
is the first international company to have its shares listed on
the exchange. Shares will be freely traded beginning the week of
December 21 under the symbol PREC.

Mr. Ronald Pantin, Chief Executive Officer, commented: "This news
is the perfect culmination of a record breaking year for us.  We
are the first international company listed on the Colombian Stock
Exchange and we are proud to be in this position.  We will be
fully engaged in the Colombian capital market and are looking
forward to being a significant participant in its growth and
development.  This development will expand the company's
shareholder base and enable it to access capital in the region if
needed."

The process for the listing of the company's shares on the BVC
started nine months ago (see press release dated September 10,
2009) and involved the participation and close collaboration of a
number of entities, including the Banco de la Republica, the
Ministry of Finance, Deceval (Clearing Agent), and La Bolsa de
Valores de Colombia.  Citivalores and Brigard & Urrutia served as
advisors throughout the process.  Their collective efforts and
commitment to the process is what made the listing of the
company's shares possible in a relatively short time frame.

The listing does not involve the issuance of new common shares of
the company or any other securities or derivatives, such as ADRs,
as it was structured solely to allow the common shares of the
company that are currently issued and outstanding, and trading on
the Toronto Stock Exchange, to be tradeable by investors through
the facilities of the BVC.  Other than enabling investors to buy
and sell shares in Colombian Pesos, the listing will not result in
any changes to the rights and entitlements of holders of the
company's shares, irrespective of whether they purchase their
shares through the TSX or the BVC.

                      About Pacific Rubiales

Pacific Rubiales Energy Corporation produces heavy crude oil.  The
company focuses on the exploration, development, and production of
heavy crude oil in the Llanos Basin of Colombia.

                           *     *     *

As of December 21, 2009, the company continues to carry Standard
and Poor's B+ LT Issuer Credit ratings.


* COLOMBIA: IDB OKs US$53MM Loan to Build San Francisco-Mocoa Road
------------------------------------------------------------------
The Inter-American Development Bank has approved a US$53 million
loan to finance the construction of a 45.6 km alternate route
between the localities of San Francisco and Mocoa, in the
Putumayo, that will contribute to southern Colombia's economic and
social development and to its integration with neighboring
countries.

The new route will replace an older section whose rehabilitation
would be too costly and environmentally inappropriate with a more
direct, shorter segment, cutting on travel time and costs and
improving the efficiency and safety of the Tumaco-Pasto-Mocoa road
corridor.

According to IDB, after work is completed, the connection between
the localities, which is now closed between 6 p.m. and 6 a.m.,
will be open to traffic 24 hours a day.  At the same time, as a
compensation measure for the environmental impacts of the road
construction and operation, the project will finance the increase
of regional protected areas from 35,000 hectares to 65,000
hectares.  Other key features of these environmental compensation
measures include the creation of the Mocoa Water Theme Park and
reforestation of more than 1,000 hectares.

These moves will boost the area's sustainable development and its
physical and economic integration with Colombia's main production
and consumption centers as well as with those in Ecuador, Peru,
and Brazil, while shortening the Pasto-Mocoa-Bogota route from 800
km to 730 km and travel time from 18 hours to 14 hours.

In addition, the project's sustainable regional integration
framework will promote conservation of the region's protected
areas through better land use, the social and productive
development of communities in its area of influence, and control
over the spreading of the inappropriate use of natural resources.

The Bank's loan is for a 25-year term, with an eight-year grace
period and a LIBOR-based variable interest rate.  The government
of Colombia will provide US$150 million in local counterpart
funds.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 16, 2009, Fitch Ratings has assigned a long-term foreign
currency rating of 'BB+' to the Republic of Colombia's US$1
billion Eurobond (6.125% coupon) maturing in 2041.


==================
C O S T A  R I C A
==================


* COSTA RICA: IMF to Provide Add'l SDR41.025MM for Disbursement
---------------------------------------------------------------
The Executive Board of the International Monetary Fund completed
on December 16, 2009 the second review of Costa Rica's economic
performance under a program supported by a 15-month Stand-By
Arrangement.  The authorities have indicated that they will
continue treating the arrangement as precautionary.

The SBA was approved on April 13, 2009 for SDR 492.3 million
(about US$783.5 million) Completion of the review makes an
additional SDR 41.025 million (about US$65.3 million) available
for disbursement, bringing the total resources that are currently
available to Costa Rica under the arrangement to SDR410.25 million
(about US$652.9 million).

Following the Executive Board's discussion on Costa Rica, Mr.
Murilo Portugal, Deputy Managing Director and Acting Chair,
stated:

"Costa Rica's performance under the Stand-By arrangement with the
Fund is commendable.  An economic recovery is gradually taking
hold, inflation has moderated to a historically low level, and the
financial sector has remained sound.  The authorities' economic
program has helped cushion the impact of the global downturn and
is providing a solid framework to support the recovery.  Economic
policies will continue to strike a balance between supporting
domestic demand in the near term and maintaining domestic and
external stability to foster sustained growth over the medium
term.

"Fiscal policy has provided timely support to domestic demand in
2009, and the fiscal program for 2010 allows room for some
additional stimulus in the early part of the year.  Afterwards,
the authorities plan to gradually unwind the fiscal stimulus as
the recovery of private demand takes hold.

"Inflation has continued to decline and the exchange rate has
moved toward the middle of the currency band.  These developments
have increased the central bank's room for policy maneuver,
although upside risks to the inflation outlook warrant maintaining
a cautious approach to monetary easing.  The more benign domestic
and global environment also provides an opportunity to further
modernize exchange rate and monetary operations, and advance in
the transition toward inflation targeting.

"The banking sector has weathered the cyclical downturn well, and
liquidity and solvency indicators remain adequate.  Further
progress in the reform agenda remains important to strengthen the
financial sector safety net, including the recapitalization of the
central bank and passage of legislation to enable consolidated
financial sector supervision," Mr. Portugal said.

                            *     *     *

As of July 28, 2009, the country continues to carry Moody's Ba1
foreign currency rating with stable outlook.


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


CABLE & WIRLESS: LIME to Resume Tele-Sales Program
-------------------------------------------------
The Court of Appeal has stayed an injunction recently obtained by
telecommunications provider Digicel Group against rival Lime
(formerly Cable & Wireless Jamaica), RadioJamaica reports.  The
report relates that the injunction effectively prevented LIME from
making unsolicited calls to Digicel's customers.

According to the report, the Appeal Court's ruling means that LIME
can resume its tele-sales plan.  The report relates that this
involves it randomly dialing publicly available number ranges
issued by the Office of Utility Regulation to extend its sales
offers to potential customers across the country.

As reported in the Troubled Company Repoter-Latin America on
November 6, 2009, Jamaica Gleaner said that Digicel Group obtained
an injunction from the Supreme Court barring Lime from using
shared industry data to target Digicel Group's high user clients,
Jamaica Gleaner reports.  The report related that Digicel Group
also sought a "search and seizure order" but later amended the
application to seek a "preservation order".  Digicel Group, the
report noted, charged that LIME has reached out to some 53,000 of
its clients on auto-dialer, that the calls originated in St.
Lucia, and that LIME identified Digicel's customers based on an
analysis of traffic and usage patterns which it identifies by
virtue of customer information from an interconnection agreement
dating back to April 18, 2001.  LIME denied all claims that it
breached the agreement.

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.


SUGAR COMPANY OF JAMAICA: Incurs JM$24MM Loss to Metal Thieves
--------------------------------------------------------------
Agriculture Minister Dr. Christopher Tufton says the state-run
Sugar Company of Jamaica Holdings Ltd has lost JM$24 million over
the last five months at its three sugar cane estates, due to the
theft of scrap metals, Jamaica Observer reports.  "We have lost
roughly JM$15 million in production while another JM$9 million has
been spent to replace the stolen items," Dr. Tufton told the the
Observer in an interview.

According to the report, the Bernard Lodge Estate in St Catherine,
was the worst affected as thieves made off with electrical cables,
transformers and sprinklers.  The report relates that electrical
poles, cables and irrigation pumps were also stolen from the Frome
Estate in Westmoreland.

Dr. Tufton, the report points out, argued that the operations at
the estates are being frustrated by the vandals who prey on the
metals and electrical components, disrupting several systems on
the estate.  "It is becoming unsustainable to repair these systems
as fast as they are vandalised and it is also very costly to
replace these parts," the report quoted Dr. Tufton as saying.  The
interruptions are negatively affecting cane production, he added.

                            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 Agriculture
Minister Dr Christopher 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: Can Use Cash Collateral of Prepetition Lenders
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of California
authorized, on an interim basis, Cimino Brokerage Company to:

   -- use cash securing their obligation to their prepetition
      lenders led by Wells Fargo Bank; and

   -- grant adequate protection to their prepetition lenders.

A hearing on the Debtor's cash collateral motion will continue on
January 8, 2010, at 2:00 p.m. at San Jose Courtroom 3020.

The Debtor would use the money to fund its Chapter 11 case, pay
suppliers and other parties.

The Debtor will provide the secured creditors with replacement
lien against the Debtor's assets, with the replacement lien to
have the same extent, validity, and priority as the prepetition
liens held by the creditors.

The Court also ordered Wells Fargo Bank to turn over funds seized
from the Debtor.

                    About Cimino Brokerage

Salinas, California-based Cimino Brokerage Company, a California
general partnership -- aka Cimino Brothers Produce and dba Cimino
Brothers Produce -- was founded over 15 years ago by the Cimino
family, which has been in the agricultural business since 1895.
The Debtor is currently owned 50% by Vincent Cimino, 25% by Armand
Cimino and 25% by Stephanie Cimino.  The Company is a year-round
grower, shipper and distributor of fresh vegetables and
fruits, primarily broccoli.  The Company, through its Mexican
wholly-owned subsidiary (Cimino Brothers Produce Mexico S.A. de
C.V. is the creator of the Asian Cut Crown broccoli category, and
has developed the largest national network of Asian foodservice
distributors and customers in the nation.  The Company's
administrative operations are carried out from its facilities in
Salinas, California.  The Company's primary cooling facilities in
the United States are located in Laredo, Texas.

The Company filed for Chapter 11 bankruptcy protection on
November 24, 2009 (Bankr. N.D. Calif. Case No. 09-60291).  Todd M.
Arnold, Esq., at Levene, Neale, Bender, Rankin, and Brill assists
the Company in its restructuring effort.  The Company listed
US$10,000,001 to US$50,000,000 in assets and US$10,000,001 to
US$50,000,000 in liabilities.


CIMINO BROKERAGE: U.S. Trustee Appoints 5-Member Creditors Panel
----------------------------------------------------------------
The U.S. Trustee for Region 17, appointed five members to the
official committee of unsecured creditors in the Chapter 11 case
of Cimino Brokerage Company.

The Creditors Committee members are:

1. Alvarez Truck Brokers of Florida, Inc.
   Attn: Mike Alcocer
   P.O. Box 772169
   Ocala, FL 34477
   Tel: (352) 291-1900

2. Gonzalez Rrucking S.A. De C.V.
   Attn: Gustavo Baez M.
   Ave. De La Convencion De 1914 Nte. No. 312
   Col. Moreles Aguascalientes, Ags, Mexico

3. Growers Ice Company
   Attn: Dennis Stephens
   P.O. Box 298
   1060 Growers Street
   Salinas, CA 93902
   Tel: (831) 424-5781

4. Holden Produce, Inc.
   Attn: Pamela J. Holden
   222 E. Monte Cristo Rd. No. 2
   Edinburg, TX 78541
   Tel: (956) 381-5994

5. International Customhouse Brokerage Services, Ltd.
   809 nafta blvd.
   Laredo, TX 78045
   Attn: Raquel L. Perez
   Tel: (956) 725-5134

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at the Debtor's
expense.  They may investigate the Debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.  Those
committees will also Attnempt to negotiate the terms of a
consensual Chapter 11 plan -- almost always subject to the terms
of strict confidentiality agreements with the Debtors and other
core parties-in-interest.  If negotiations break down, the
Committee may ask the Bankruptcy Court to replace management with
an independent trustee.  If the Committee concludes reorganization
of the Debtor is impossible, the Committee will urge the
Bankruptcy Court to convert the Chapter 11 cases to a liquidation
proceeding.

                    About Cimino Brokerage

Salinas, California-based Cimino Brokerage Company, a California
general partnership -- aka Cimino Brothers Produce and dba Cimino
Brothers Produce -- was founded over 15 years ago by the Cimino
family, which has been in the agricultural business since 1895.
The Debtor is currently owned 50% by Vincent Cimino, 25% by Armand
Cimino and 25% by Stephanie Cimino.  The Company is a year-round
grower, shipper and distributor of fresh vegetables and
fruits, primarily broccoli.  The Company, through its Mexican
wholly-owned subsidiary (Cimino Brothers Produce Mexico S.A. de
C.V. is the creator of the Asian Cut Crown broccoli category, and
has developed the largest national network of Asian foodservice
distributors and customers in the nation.  The Company's
administrative operations are carried out from its facilities in
Salinas, California.  The Company's primary cooling facilities in
the United States are located in Laredo, Texas.

The Company filed for Chapter 11 bankruptcy protection on
November 24, 2009 (Bankr. N.D. Calif. Case No. 09-60291).  Todd M.
Arnold, Esq., at Levene, Neale, Bender, Rankin, and Brill assists
the Company in its restructuring effort.  The Company listed
US$10,000,001 to US$50,000,000 in assets and US$10,000,001 to
US$50,000,000 in liabilities.


CIMINO BROKERAGE: Weather, Financial Woes Cued Chapter 11 Filing
----------------------------------------------------------------
The Packer's Dawn Withers reports that Cimino Bros. Produce filed
for Chapter 11 bankruptcy, citing inability to secured additional
bank loans in time leading to an ongoing dispute with Wells Fargo
over seized accounts, problems with weather in Mexico, and carton
supplier cost of US$6.5 million in 2008.

Salinas, California-based Cimino Brokerage Company, a California
general partnership -- aka Cimino Brothers Produce and dba Cimino
Brothers Produce -- was founded over 15 years ago by the Cimino
family, which has been in the agricultural business since 1895.
The Debtor is currently owned 50% by Vincent Cimino, 25% by Armand
Cimino and 25% by Stephanie Cimino.  The Company is a year-round
grower, shipper and distributor of fresh vegetables and
fruits, primarily broccoli.  The Company, through its Mexican
wholly-owned subsidiary (Cimino Brothers Produce Mexico S.A. de
C.V. is the creator of the Asian Cut Crown broccoli category, and
has developed the largest national network of Asian foodservice
distributors and customers in the nation.  The Company's
administrative operations are carried out from its facilities in
Salinas, California.  The Company's primary cooling facilities in
the United States are located in Laredo, Texas.

The Company filed for Chapter 11 bankruptcy protection on
November 24, 2009 (Bankr. N.D. Calif. Case No. 09-60291).  Todd M.
Arnold, Esq., at Levene, Neale, Bender, Rankin, and Brill assists
the Company in its restructuring effort.  The Company listed
US$10,000,001 to US$50,000,000 in assets and US$10,000,001 to
US$50,000,000 in liabilities.


CORPORACION GEO SAB: Reveals Guidance for FY2010
------------------------------------------------
Corporacion GEO, S.A.B. de C.V. disclosed its guidance for FY
2010.

For 2010, GEO expects to post revenue growth between 8%-11% and
achieve an EBITDA margin between 21%-23%.  These figures are
derived using the new INIF-14 accounting principle and are
compared to the pro forma statements of 2009.

GEO expects to achieve this revenue growth supported by the
Company's strategy of focusing on the lower income housing
segment, its sophisticated marketing tactics and the availability
of lower-income-housing mortgages through INFONAVIT and FOVISSSTE.
GEO is the indisputable leader in titled mortgages with both
institutions with a 7.9% and 16.4% mortgage share, respectively,
as of November 2009.

GEO plans to continue its successful operational and growth
strategy to further increase its position in the lower income
housing segment into 2010.  The company will focus primarily on
free cash flow generation by reducing costs, improving its working
capital cycle and reducing its CAPEX and land investment. Land
acquisitions will be made with the support of GEO's strategic
alliances with Prudential Real Estate Investors and Banorte's
Solida.  This will allow the Company to maintain a healthy balance
sheet in 2010.

Corporacion GEO has been able to maintain the most efficient
working capital cycle in the industry.  Management expects this to
continue throughout 2010, anticipating a stable cycle for the
short term.  Moreover, the company expects to achieve operational
cycle improvements in the medium and longer term, driven by its
"ALPHA" construction technology, which is expected to begin
operations in the first quarter of 2010 with an initial capacity
of 5,000 units for FY 2010.

Luis Orvananos Lascurain, CEO of Corporacion GEO, commented, "For
2010, GEO expects to remain in its privileged position, delivering
quality low-income housing thanks to its successful strategy and
leadership position with INFONAVIT and FOVISSSTE.  Next year, we
will continue to leverage this leadership position to seize
opportunities with benefit of our customer-focused culture, brand
recognition, efficient business model, production processes and
access to capital.  Our focus will continue to be value generation
for our shareholders, and our clients."

                        About Corporacion GEO

Corporacion GEO Sab de CV, through its sunsidiaries, designs and
contructs entry-level housing communities in Mexico and Chile.
GEO acquires land, obtains permits, installs infrastructure
improvements, and builds and markets hoising developments.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 14, 2009, Standard & Poor's Ratings Services said that
it assigned its 'BB-' senior unsecured long-term debt rating to
Corporacion Geo S.A.B. de C.V.'s proposed US$200 million fixed-
rate notes.


GRUPO POSADAS: S&P Affirms 'B+' Long-Term Corporate Credit Rating
-----------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings on Grupo Posadas S.A.B. de C.V., including its 'B+' long-
term corporate credit rating.  The recovery rating on its senior
unsecured notes remains '3'.  The ratings were removed from
CreditWatch Negative, were it was placed originally on May 8,
2009.  The outlook is negative.

"The corporate credit rating on Posadas reflects its aggressive
financial policy, the cyclical nature of the lodging industry, the
company's geographic concentration in Mexico, and its relatively
high debt leverage," said Standard & Poor's credit analyst Monica
Ponce.  These factors are partially offset by the company's
consistent operating performance, its position as the largest
hotel operator in Mexico, and its diversified hotel portfolio,
including well-recognized brands.

For the nine months ended Sept. 30, 2009, Posadas's occupancy
levels in owned and leased hotels was 52%, while occupancy levels
at managed hotels was 53%, a decline of 10% and 8.4%,
respectively, from the same period of 2008.  The decline is in
line with S&P's expectations as a result of the A-H1N1 outbreak in
Mexico and the economic slowdown in the country.  As a result of
this, for the 12 months ended Sept. 30, 2009, the company reported
an EBITDA plus rent margin adjusted for operating leases of 23.6%,
which compares negatively to the 26.8% reported in the same period
of the previous year.

S&P expects the company to have an EBITDAR margin adjusted for
operating leases of about 24% by year-end, which is lower than the
27.3% that the company had at year-end 2008.  S&P does not expect
occupancy levels to further decline in the next year.  Moreover,
S&P expects the company to recover from the negative impact that
the A-H1N1 outbreak has had on its results, which will lead to
better performance results in 2010.  For the 12 months ended
Sept. 30, 2008, EBITDAR adjusted for operating leases interest
coverage, and debt-to-EBITDAR adjusted for operating leases ratios
were 2.7x and 4.7x, respectively, indicating the company's high
financial leverage.  S&P expects that during 2010, these ratios
will be in the mid 2x and mid 4x areas, respectively.

The negative outlook reflects S&P's uncertainty regarding the
important maturities that the company faces in 2010 that could
tighten its liquidity position.  Moreover, the company still has
an open position on derivative instruments that, under foreign
exchange volatility, could further constrain its liquidity.  S&P
could lower the rating if the company's financial profile
deteriorates, posting debt-to-EBITDAR ratios adjusted for
operating leases above the high 5x area, or if there are any
liquidity constraints.  S&P could revise the outlook to stable if
the company refinances its short term debt maturities for next
year.


GRUPO TMM: Taps BNY Mellon as Successor Depositary Bank
-------------------------------------------------------
BNY Mellon has been selected by Grupo TMM, S.A.B. as successor
depositary bank for its American depositary receipt program.  Each
Grupo TMM ADR represents five common shares and trades on the New
York Stock Exchange under the symbol "TMM."  The common shares
trade on the Bolsa Mexicana de Valores under the symbol "TMM A."

"When a highly experienced DR issuer like Grupo TMM appoints us as
successor depositary bank, a clear message is sent to the
marketplace highlighting our proven track record and commitment to
the business," said Michael Cole-Fontayn, chief executive officer
of BNY Mellon's Depositary Receipts business.  "We are pleased to
be serving as Grupo TMM's successor depositary and look forward to
putting our extensive resources to work for them."

BNY Mellon acts as depositary for more than 2,100 American and
global depositary receipt programs, acting in partnership with
leading companies from 67 countries.  With an unrivaled commitment
to helping securities issuers succeed in the world's rapidly
evolving financial markets, the company delivers the industry's
most comprehensive suite of integrated depositary receipt,
corporate trust and stock transfer services.

                          About Grupo TMM

Headquartered in Mexico City, Grupo TMM, S.A.B. (NYSE: TMM)(MEX
VALORIS: TMMA) -- http://www.grupotmm.com/-- is a Latin
American multimodal transportation and logistics company.
Through its branch offices and network of subsidiary companies,
TMM provides a dynamic combination of ocean and land
transportation services.

As reported in the Troubled Company Reporter-Latin America on
July 17, 2008, Grant Thornton, S.C., raised substantial doubt
about the ability of Grupo TMM, S.A.B, to continue as a going
concern after it audited the company's financial statements for
the year ended Dec. 31, 2007.  The auditing firm pointed to the
company's sustained substantial losses from continuing
operations during the past five years.


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


CHRYSLER LLC: Old CarCo Wants to Abandon 8 Non-Debtor Units
-----------------------------------------------------------
Old CarCo LLC, formerly Chrysler LLC, and its units seek the
Bankruptcy Court's authority to abandon their ownership interests
in eight nondebtor subsidiaries:

  (a) two foreign nondebtor subsidiaries:

      (1) Chrysler de Venezuela S.A.; and
      (2) Chrysler Motors de Venezuela S.A; and

  (b) six domestic nondebtor subsidiaries that currently operate
      or previously operated Chrysler, Dodge or Jeep dealerships
      and that are referred to as "marketing investment
      dealerships":

      (1) Action Chrysler Jeep Dodge, Inc.;
      (2) Des Plaines Chrysler Jeep Dodge, Inc.;
      (3) Grapevine Chrysler Jeep Dodge, Inc.;
      (4) Lone Star Chrysler Jeep Dodge, Inc.;
      (5) Long Beach Chrysler-Jeep, Inc.; and
      (6) South Charlotte Chrysler Jeep Dodge, Inc.

As part of the Fiat Transaction, the Debtors sold substantially
all of their operating assets to New Chrysler.  However, in
connection with the Fiat Transaction, New Chrysler did not
purchase the Ownership Interests in the Nondebtor Subsidiaries.
As a result, the Nondebtor Subsidiaries remain wholly or partially
owned, directly or indirectly, by Old Carco.  Specifically, Old
Carco directly or indirectly owns 100% of the Ownership Interests
in all Nondebtor Subsidiaries other than Des Plaines MID and South
Charlotte MID, and owns a controlling interest in Des Plaines MID
and South Charlotte MID.

The Nondebtor Foreign Subsidiaries have been inactive and the
subject of liquidation proceedings in Venezuela since prior to the
Petition Date.  Specifically, Chrysler Venezuela has been in
liquidation since 1989, and Chrysler Motors Venezuela has been in
liquidation since August 2008.  The Debtors believe that the
assets and liabilities of the Foreign Nondebtor Subsidiaries are
de minimis.

Corinne Ball, Esq., at Jones Day, in New York, contends that the
Debtors have no source of funding for any further liquidation
activities by the Nondebtor Foreign Subsidiaries.  She adds that
the MIDs are unprofitable current and former dealerships owned by
the Debtors.  The Debtors have determined that there is no value
in the Ownership Interests in these entities.

The Debtors do not exercise and have not exercised any control
over the business or affairs of the Nondebtor Subsidiaries since
before the Fiat Transaction, Ms. Ball discloses.  She notes that
no officer, director or member of management of the Debtors is an
officer, director or member of management of any of the Nondebtor
Subsidiaries.

The Ownership Interests in the MIDs and 65% of the Ownership
Interests in the Nondebtor Foreign Subsidiaries serve as
collateral for the Debtors' obligations to the First Lien Lenders.
Pursuant to the First Lien Winddown Order authorizing the Debtors
to use cash collateral of the Prepetition Secured Lenders, the
First Lien Agent designated the Ownership Interests as "Excluded
Assets" that the First Lien Lenders neither wish to fund, nor own.
Given the designation of the Ownership Interests as Excluded
Assets, and consistent with the terms of the First Lien Winddown
Order, Ms. Ball tells Judge Gonzalez that the Debtors have
determined to abandon the Ownership Interests.

Ms. Ball asserts that abandonment of the Ownership Interests is
appropriate because they are of inconsequential value and provide
no benefit, and only potential burdens, to the Debtors' bankruptcy
estates.  In the absence of any further funding for activities
relating to the Ownership Interests, and consistent with the First
Lien Winddown Order, the Debtors believe that the abandonment of
the Ownership Interests is the most cost-efficient means of
relieving their estates of the potential burdens associated with
continued ownership of the Nondebtor Subsidiaries.

The Court will commence a hearing on December 17, 2009, to
consider the request.  Objections are due December 14.

                         About Chrysler LLC

Chrysler LLC and 24 affiliates on April 30 sought Chapter 11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory Group
LLC, and Greenhill & Co. LLC, for financial advisory services; and
Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler has
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of December 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of the Bankruptcy Code that would effect an alliance between
Chrysler and Italian automobile manufacturer Fiat.  Under the
terms approved by the Bankruptcy Court, the company formerly known
as Chrysler LLC on June 10, 2009, formally sold substantially all
of its assets, without certain debts and liabilities, to a new
company that will operate as Chrysler Group LLC.  Fiat has a 20
percent equity interest in Chrysler Group.

Headquartered in Auburn Hills, Michigan, Chrysler Group LLC,
formed in 2009 from a global strategic alliance with Fiat Group,
produces Chrysler, Jeep, Ram, Dodge, Mopar and Global Electric
Motorcars (GEM) brand vehicles and products.

Bankruptcy Creditors' Service, Inc., publishes Chrysler Bankruptcy
News.  The newsletter tracks the Chapter 11 proceedings of
Chrysler LLC and its debtor-affiliates.
(http://bankrupt.com/newsstand/or 215/945-7000)


PETROLEOS DE VENEZUELA: Debts to contractors Up Labor Disputes
--------------------------------------------------------------
Workers of contractor companies at Petroleos de Venezuela are
still protesting over labor debts and late payments, Deisy
Buitrago at El Universal News reports.  The report relates that
union leaders and service providers argue they are cash-strapped
and not able to pay their labor debts due to company's inability
to pay on time.

However, the report notes, PDVSA claimed it is fulfilling its
commitments with suppliers and could pay in full by the end of the
year.

According to the report, a group of oil workers at Maerks last
week stopped one of the rigs operated together with PDVSA in the
state of Zulia, as they received only 60% of the profit share
payments.  The report relates workers from contractors of
Petroboscan, a joint venture, demanded the payments of their wage
and profit shares as well as the provision of uniforms and safety
equipments.

EL Universal News, citing an unnamed trade leader, says that the
contractors agreed to pay the debts this week.  If the companies
do not meet their offer, protests will grow, he warned.

Jose Bodas, the secretary general of the Oil Federation, the
report points out, said that PDVSA should declare an emergency to
deal with labor disputes.  "There are cases of workers of Pdvsa
contractors and of PDVSA itself who work for extended periods,
without food and the minimum safety equipment to work," the report
quoted Mr. Bodas as saying.

                           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


U21 CASA DE BOLSA: Watchdog Intervenes, Closes Operations
---------------------------------------------------------
The Venezuelan government's banking watchdog, The Venezuelan
Superintendence of Banks and other Financial Institutions
(Sudeban), intervened and closed U21 Casa de Bolsa's operations,
EL Universal News reports.

According to the report, Sudeban took this measure because the
funds to cope with the financial commitments made by the brokerage
house, which are currently due and in process, are deposited in
Banco Canarias accounts, which were blocked as a result of the
seizure of the bank on November 19, 2009.  The report relates that
U21 Casa de Bolsa was raided some weeks ago by Venezuelan
authorities amid investigations that led to the takeover of
several banks facing capitalization and solvency problems.

                    About U21 Casa de Bolsa CA

U21 Casa de Bolsa CA operates as a brokerage firm that generates
revenues by investing in securities and mutual funds for both its
clients and its own accounts.


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


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

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


ARGENTINA

SCDPF US    SOC COMERCIAL PL   113091441  -254639574
SDAGF US    SNIAFA SA-B         11489328 -840226.119
APDSF US    AUTOPISTAS SOL     351681167  -2858782.1
CAD IX      SOC COMERCIAL PL   113091441  -254639574
CVVIF US    SOC COMERCIAL PL   113091441  -254639574
CADN EO     SOC COMERCIAL PL   113091441  -254639574
SCPDS LI    COMERCIAL PL-ADR   113091441  -254639574
COME AR     SOC COMERCIAL PL   113091441  -254639574
CADN SW     SOC COMERCIAL PL   113091441  -254639574
COMEB AR    COMERCIAL PLA-BL   113091441  -254639574
COMEC AR    COMERCIAL PL-C/E   113091441  -254639574
COMED AR    COMERCIAL PLAT-$   113091441  -254639574
SNIA AR     SNIAFA SA           11489328 -840226.119
SNIA5 AR    SNIAFA SA-B         11489328 -840226.119
AUSO AR     AUTOPISTAS SOL     351681167  -2858782.1
IMPTQ US    IMPSAT FIBER NET   535007008   -17165000
330902Q GR  IMPSAT FIBER NET   535007008   -17165000
XIMPT SM    IMPSAT FIBER NET   535007008   -17165000
IMPT AR     IMPSAT FIBER-CED   535007008   -17165000
IMPTC AR    IMPSAT FIBER-C/E   535007008   -17165000
IMPTD AR    IMPSAT FIBER-$US   535007008   -17165000
IMPTB AR    IMPSAT FIBER-BLK   535007008   -17165000


BRAZIL

IMBI1 BZ    DOC IMBITUBA-RTC   114896167 -16783228.4
IMBI2 BZ    DOC IMBITUBA-RTP   114896167 -16783228.4
81370Z BZ   TELECOMUNICA-ADR   244018546 -6054999.05
FTRX1 BZ    FABRICA TECID-RT    66779267 -50394386.1
PRMN3B BZ   PROMAN              13403497 -173711.308
TEKAY US    TEKA-ADR           237436194  -360484910
BMBBF US    BOMBRIL            289000174  -166589140
CBRZF US    TELEBRAS-PF RCPT   244018546 -6054999.05
TKTQF US    TEKA               237436194  -360484910
TKTPF US    TEKA-PREF          237436194  -360484910
REIC US     REII INC            16631180    -1448544
RPMG1 BZ    PET MANG-RIGHTS     76852724  -212528966
RPMG2 BZ    PET MANG-RIGHTS     76852724  -212528966
RPMG9 BZ    PET MANG-RECEIPT    76852724  -212528966
RPMG10 BZ   PET MANG-RECEIPT    76852724  -212528966
TRES3 BZ    MMX MINERACAO      1.018E+09  -160218401
MMXMY US    MMX MINERACA-GDR   1.018E+09  -160218401
SNST3 BZ    SANESALTO           27381497  -870175.96
CEED3B BZ   CEEE-D             1.091E+09 -15249815.8
CEED4B BZ   CEEE-D-PREF        1.091E+09 -15249815.8
BDFCE US    B&D FOOD CORP       16631180    -1448544
BOBR2 BZ    BOMBRIL-RGTS PRE   289000174  -166589140
BOBR1 BZ    BOMBRIL-RIGHTS     289000174  -166589140
XMM CN      MMX MINERACA-GDR   1.018E+09  -160218401
TBH-W US    TELEBRAS/W-I-ADR   244018546 -6054999.05
3M11 GR     MMX MINERACA-GDR   1.018E+09  -160218401
MILK11 BZ   LAEP-BDR           440611400 -32930986.3
LEAP LX     LAEP INVESTMENTS   440611400 -32930986.3
MMXCF US    MMX MINERACAO      1.018E+09  -160218401
BLDR3 BZ    BALADARE           144928981 -33970462.8
TXRX1 BZ    TEXTEIS RENAU-RT    58969048 -91550951.9
TXRX2 BZ    TEXTEIS RENAU-RT    58969048 -91550951.9
TXRX9 BZ    TEXTEIS RENA-RCT    58969048 -91550951.9
TXRX10 BZ   TEXTEIS RENA-RCT    58969048 -91550951.9
TELB9 BZ    TELEBRAS SA-RT     244018546 -6054999.05
GASC4 BZ    GASCOIGNE EMP-PF   1.124E+09  -536003486
GASC3 BZ    ALL MALHA PAULIS   1.124E+09  -536003486
MRLM4 BZ    CIA PETROLIF-PRF   377602195 -3014291.72
MRLM3 BZ    CIA PETROLIFERA    377602195 -3014291.72
CEED3 BZ    CEEE-D             1.091E+09 -15249815.8
NOVA3 BZ    NOVA AMERICA SA     21287489  -183535527
NOVA4 BZ    NOVA AMERICA-PRF    21287489  -183535527
PRMN3 BZ    PROMAN              13403497 -173711.308
BDFC US     B&D FOOD CORP       16631180    -1448544
CEED4 BZ    CEEE-D-PREF        1.091E+09 -15249815.8
TELB3 BZ    TELEBRAS SA        244018546 -6054999.05
TLBRON BZ   TELEBRAS SA        244018546 -6054999.05
TBASF US    TELEBRAS SA        244018546 -6054999.05
TELB4 BZ    TELEBRAS SA-PREF   244018546 -6054999.05
TLBRPN BZ   TELEBRAS SA-PREF   244018546 -6054999.05
TBAPY US    TELEBRAS-ADR       244018546 -6054999.05
TBRAY GR    TELEBRAS-ADR       244018546 -6054999.05
RCTB4 AR    TELEBRAS-CEDE PF   244018546 -6054999.05
RCT4C AR    TELEBRAS-CED C/E   244018546 -6054999.05
RCT4D AR    TELEBRAS-CEDEA $   244018546 -6054999.05
RCT4B AR    TELEBRAS-CEDE BL   244018546 -6054999.05
TBH US      TELEBRAS-ADR       244018546 -6054999.05
TBX GR      TELEBRAS-ADR       244018546 -6054999.05
RTB US      TELEBRAS-ADR       244018546 -6054999.05
TBASY US    TELEBRAS-ADR       244018546 -6054999.05
TELB10 BZ   TELEBRAS-RCT PRF   244018546 -6054999.05
RCTB1 BZ    TELEBRAS-RTS CMN   244018546 -6054999.05
RCTB2 BZ    TELEBRAS-RTS PRF   244018546 -6054999.05
TCLP1 BZ    TELEBRAS-RTS CMN   244018546 -6054999.05
TLCP2 BZ    TELEBRAS-RTS PRF   244018546 -6054999.05
TELB1 BZ    TELEBRAS-COM RT    244018546 -6054999.05
RCTB31 BZ   TELEBRAS-CM RCPT   244018546 -6054999.05
TELE31 BZ   TELEBRAS-CM RCPT   244018546 -6054999.05
RCTB33 BZ   TELEBRAS-RCT       244018546 -6054999.05
TBRTF US    TELEBRAS-CM RCPT   244018546 -6054999.05
RCTB32 BZ   TELEBRAS-CM RCPT   244018546 -6054999.05
RCTB41 BZ   TELEBRAS-PF RCPT   244018546 -6054999.05
TELE41 BZ   TELEBRAS-PF RCPT   244018546 -6054999.05
RCTB42 BZ   TELEBRAS-PF RCPT   244018546 -6054999.05
TELB4 AR    TELEBRAS-CEDE PF   244018546 -6054999.05
TEL4C AR    TELEBRAS-CED C/E   244018546 -6054999.05
RCTB30 BZ   TELEBRAS-CM RCPT   244018546 -6054999.05
RCTB40 BZ   TELEBRAS-PF RCPT   244018546 -6054999.05
TBAPF US    TELEBRAS-PF RCPT   244018546 -6054999.05
TLBRUO BZ   TELEBRAS-RECEIPT   244018546 -6054999.05
TLBRUP BZ   TELEBRAS-PF RCPT   244018546 -6054999.05
TELB30 BZ   TELEBRAS-BLOCK     244018546 -6054999.05
TELB40 BZ   TELEBRAS-PF BLCK   244018546 -6054999.05
TEL4D AR    TELEBRAS-CEDEA $   244018546 -6054999.05
ARLA3 BZ    ARTHUR LANGE        21333793   -16295577
ALICON BZ   ARTHUR LANGE SA     21333793   -16295577
ARLA4 BZ    ARTHUR LANGE-PRF    21333793   -16295577
ALICPN BZ   ARTHUR LANGE-PRF    21333793   -16295577
ARLA1 BZ    ARTHUR LANG-RT C    21333793   -16295577
ARLA2 BZ    ARTHUR LANG-RT P    21333793   -16295577
ARLA9 BZ    ARTHUR LANG-RC C    21333793   -16295577
ARLA10 BZ   ARTHUR LANG-RC P    21333793   -16295577
ARLA11 BZ   ARTHUR LAN-DVD C    21333793   -16295577
ARLA12 BZ   ARTHUR LAN-DVD P    21333793   -16295577
BOBR3 BZ    BOMBRIL            289000174  -166589140
BOBRON BZ   BOMBRIL CIRIO SA   289000174  -166589140
BOBR4 BZ    BOMBRIL-PREF       289000174  -166589140
BOBRPN BZ   BOMBRIL CIRIO-PF   289000174  -166589140
BMBPY US    BOMBRIL SA-ADR     289000174  -166589140
BMBBY US    BOMBRIL SA-ADR     289000174  -166589140
BUET3 BZ    BUETTNER            97710630 -46681943.4
BUETON BZ   BUETTNER SA         97710630 -46681943.4
BUET4 BZ    BUETTNER-PREF       97710630 -46681943.4
BUETPN BZ   BUETTNER SA-PRF     97710630 -46681943.4
BUET1 BZ    BUETTNER SA-RTS     97710630 -46681943.4
BUET2 BZ    BUETTNER SA-RT P    97710630 -46681943.4
CAFE3 BZ    CAF BRASILIA        20168618  -728730286
CSBRON BZ   CAFE BRASILIA SA    20168618  -728730286
CAFE4 BZ    CAF BRASILIA-PRF    20168618  -728730286
CSBRPN BZ   CAFE BRASILIA-PR    20168618  -728730286
CAMB3 BZ    CAMBUCI SA          91527757   -26705143
CAMBON BZ   CAMBUCI SA          91527757   -26705143
CAMB4 BZ    CAMBUCI SA-PREF     91527757   -26705143
CAMBPN BZ   CAMBUCI SA-PREF     91527757   -26705143
CXDOF US    CAMBUCI SA-PREF     91527757   -26705143
CCHI3 BZ    CHIARELLI SA        22274027 -44537138.2
CCHON BZ    CHIARELLI SA        22274027 -44537138.2
CCHI4 BZ    CHIARELLI SA-PRF    22274027 -44537138.2
CCHPN BZ    CHIARELLI SA-PRF    22274027 -44537138.2
IMBI3 BZ    DOC IMBITUBA       114896167 -16783228.4
IMBION BZ   DOCAS IMBITUBA     114896167 -16783228.4
IMBI4 BZ    DOC IMBITUB-PREF   114896167 -16783228.4
IMBIPN BZ   DOCAS IMBITUB-PR   114896167 -16783228.4
SCLO3 BZ    SCHLOSSER           11745600 -75930514.2
SCHON BZ    SCHLOSSER SA        11745600 -75930514.2
SCLO4 BZ    SCHLOSSER-PREF      11745600 -75930514.2
SCHPN BZ    SCHLOSSER SA-PRF    11745600 -75930514.2
CALI3 BZ    CONST A LINDEN      11147513   -15979177
LINDON BZ   CONST A LINDEN      11147513   -15979177
CALI4 BZ    CONST A LIND-PRF    11147513   -15979177
LINDPN BZ   CONST A LIND-PRF    11147513   -15979177
DHBI3 BZ    D H B              124060999  -405125353
DHBON BZ    DHB IND E COM      124060999  -405125353
DHBI4 BZ    D H B-PREF         124060999  -405125353
DHBPN BZ    DHB IND E COM-PR   124060999  -405125353
DOCA3 BZ    DOCA INVESTIMENT    88417961 -18059127.9
DOCAON BZ   DOCAS SA            88417961 -18059127.9
DOCA4 BZ    DOCA INVESTI-PFD    88417961 -18059127.9
DOCAPN BZ   DOCAS SA-PREF       88417961 -18059127.9
DOCA2 BZ    DOCAS SA-RTS PRF    88417961 -18059127.9
EALT3 BZ    ACO ALTONA          84614948 -14270921.5
EAAON BZ    ACO ALTONA SA       84614948 -14270921.5
EALT4 BZ    ACO ALTONA-PREF     84614948 -14270921.5
EAAPN BZ    ACO ALTONA-PREF     84614948 -14270921.5
FTRX3 BZ    FABRICA RENAUX      66779267 -50394386.1
FRNXON BZ   FABRICA RENAUX      66779267 -50394386.1
FTRX4 BZ    FABRICA RENAUX-P    66779267 -50394386.1
FRNXPN BZ   FABRICA RENAUX-P    66779267 -50394386.1
HAGA3 BZ    HAGA                16483114   -62923102
HAGAON BZ   FERRAGENS HAGA      16483114   -62923102
HAGA4 BZ    FER HAGA-PREF       16483114   -62923102
HAGAPN BZ   FERRAGENS HAGA-P    16483114   -62923102
SJOS3 BZ    TECEL S JOSE        17924946 -18569451.2
FTSJON BZ   TECEL S JOSE        17924946 -18569451.2
SJOS4 BZ    TECEL S JOSE-PRF    17924946 -18569451.2
FTSJPN BZ   TECEL S JOSE-PRF    17924946 -18569451.2
GAFP3 BZ    CIMOB PARTIC SA     36817395 -33083086.5
GAFON BZ    CIMOB PARTIC SA     36817395 -33083086.5
GAFP4 BZ    CIMOB PART-PREF     36817395 -33083086.5
GAFPN BZ    CIMOB PART-PREF     36817395 -33083086.5
GAZO3 BZ    GAZOLA              12452143 -40298506.3
GAZON BZ    GAZOLA SA           12452143 -40298506.3
GAZO4 BZ    GAZOLA-PREF         12452143 -40298506.3
GAZPN BZ    GAZOLA SA-PREF      12452143 -40298506.3
GAZO9 BZ    GAZOLA-RCPTS CMN    12452143 -40298506.3
GAZO10 BZ   GAZOLA-RCPT PREF    12452143 -40298506.3
GAZO11 BZ   GAZOLA SA-DVD CM    12452143 -40298506.3
GAZO12 BZ   GAZOLA SA-DVD PF    12452143 -40298506.3
TXRX3 BZ    RENAUXVIEW SA       58969048 -91550951.9
RENXON BZ   TEXTEIS RENAUX      58969048 -91550951.9
TXRX4 BZ    RENAUXVIEW SA-PF    58969048 -91550951.9
RENXPN BZ   TEXTEIS RENAUX      58969048 -91550951.9
LCSA3 BZ    PARMALAT           353615265  -165164436
LCSAON BZ   PARMALAT BRASIL    353615265  -165164436
LCSA4 BZ    PARMALAT-PREF      353615265  -165164436
LCSAPN BZ   PARMALAT BRAS-PF   353615265  -165164436
LCSA5 BZ    PARMALAT BR-RT C   353615265  -165164436
LCSA6 BZ    PARMALAT BR-RT P   353615265  -165164436
ESTR3 BZ    ESTRELA SA          61011894 -54580283.6
ESTRON BZ   ESTRELA SA          61011894 -54580283.6
ESTR4 BZ    ESTRELA SA-PREF     61011894 -54580283.6
ESTRPN BZ   ESTRELA SA-PREF     61011894 -54580283.6
RSUL3 BZ    RIOSULENSE SA       61902902 -11292932.5
RSULON BZ   RIOSULENSE SA       61902902 -11292932.5
RSUL4 BZ    RIOSULENSE SA-PR    61902902 -11292932.5
RSULPN BZ   RIOSULENSE SA-PR    61902902 -11292932.5
MWET3 BZ    WETZEL SA           79756128 -6350930.69
MWELON BZ   WETZEL SA           79756128 -6350930.69
MWET4 BZ    WETZEL SA-PREF      79756128 -6350930.69
MWELPN BZ   WETZEL SA-PREF      79756128 -6350930.69
MNPR3 BZ    MINUPAR             89611489 -20702110.7
MNPRON BZ   MINUPAR SA          89611489 -20702110.7
MNPR4 BZ    MINUPAR-PREF        89611489 -20702110.7
MNPRPN BZ   MINUPAR SA-PREF     89611489 -20702110.7
NORD3 BZ    NORDON MET          15498217 -20133536.7
NORDON BZ   NORDON METAL        15498217 -20133536.7
NORD1 BZ    NORDON MET-RTS      15498217 -20133536.7
NOVA3B BZ   NOVA AMERICA SA     21287489  -183535527
NOVAON BZ   NOVA AMERICA SA     21287489  -183535527
NOVA4B BZ   NOVA AMERICA-PRF    21287489  -183535527
NOVAPN BZ   NOVA AMERICA-PRF    21287489  -183535527
1NOVPN BZ   NOVA AMERICA-PRF    21287489  -183535527
1NOVON BZ   NOVA AMERICA SA     21287489  -183535527
RPMG3 BZ    PETRO MANGUINHOS    76852724  -212528966
MANGON BZ   PETRO MANGUINHOS    76852724  -212528966
RPMG4 BZ    PET MANGUINH-PRF    76852724  -212528966
MANGPN BZ   PETRO MANGUIN-PF    76852724  -212528966
REEM3 BZ    RIMET               63757622  -107162240
REEMON BZ   RIMET               63757622  -107162240
REEM4 BZ    RIMET-PREF          63757622  -107162240
REEMPN BZ   RIMET-PREF          63757622  -107162240
SNSY3 BZ    SANSUY             100279115 -45812488.8
SNSYON BZ   SANSUY SA          100279115 -45812488.8
SNSY5 BZ    SANSUY-PREF A      100279115 -45812488.8
SNSYAN BZ   SANSUY SA-PREF A   100279115 -45812488.8
SNSY6 BZ    SANSUY-PREF B      100279115 -45812488.8
SNSYBN BZ   SANSUY SA-PREF B   100279115 -45812488.8
STRP3 BZ    BOTUCATU TEXTIL     35101567 -13482713.5
STARON BZ   STAROUP SA          35101567 -13482713.5
STRP4 BZ    BOTUCATU-PREF       35101567 -13482713.5
STARPN BZ   STAROUP SA-PREF     35101567 -13482713.5
TEKA3 BZ    TEKA               237436194  -360484910
TEKAON BZ   TEKA               237436194  -360484910
TEKA4 BZ    TEKA-PREF          237436194  -360484910
TEKAPN BZ   TEKA-PREF          237436194  -360484910
TKTPY US    TEKA-ADR           237436194  -360484910
TKTQY US    TEKA-ADR           237436194  -360484910
VAGV3 BZ    VARIG SA           966298026 -4695211316
VARGON BZ   VARIG SA           966298026 -4695211316
VAGV4 BZ    VARIG SA-PREF      966298026 -4695211316
VARGPN BZ   VARIG SA-PREF      966298026 -4695211316
WISA3 BZ    WIEST               39838114 -93371563.1
WISAON BZ   WIEST SA            39838114 -93371563.1
WISA4 BZ    WIEST-PREF          39838114 -93371563.1
WISAPN BZ   WIEST SA-PREF       39838114 -93371563.1
VSPT3 BZ    FER C ATLANT       1.189E+09 -35605725.7
VSPT4 BZ    FER C ATLANT-PRF   1.189E+09 -35605725.7
VSPT11 BZ   FERROVIA CEN-DVD   1.189E+09 -35605725.7
VSPT12 BZ   FERROVIA CEN-DVD   1.189E+09 -35605725.7
VSPT9 BZ    FER C ATL-RCT CM   1.189E+09 -35605725.7
VSPT10 BZ   FER C ATL-RCT PF   1.189E+09 -35605725.7
PQTM3 BZ    HOPI HARI SA        62168844 -55189836.7
PQTM4 BZ    HOPI HARI-PREF      62168844 -55189836.7
PQT5 BZ     PARQUE TEM-DV CM    62168844 -55189836.7
PQT6 BZ     PARQUE TEM-DV PF    62168844 -55189836.7
PQTM1 BZ    PARQUE TEM-RT CM    62168844 -55189836.7
PQTM2 BZ    PARQUE TEM-RT PF    62168844 -55189836.7
PQTM9 BZ    PARQUE TEM-RCT C    62168844 -55189836.7
PQTM10 BZ   PARQUE TEM-RCT P    62168844 -55189836.7
MMXM3 BZ    MMX MINERACAO      1.018E+09  -160218401
1TSSON BZ   TRESSEM PART SA    1.018E+09  -160218401
GASC3B BZ   ALL MALHA PAULIS   1.124E+09  -536003486
GASC4B BZ   GASCOIGNE EMP-PF   1.124E+09  -536003486
1GASON BZ   GASCOIGNE EMPREE   1.124E+09  -536003486
1GASPN BZ   GASCOIGNE EMP-PF   1.124E+09  -536003486
MRLM3B BZ   CIA PETROLIFERA    377602195 -3014291.72
MRLM4B BZ   CIA PETROLIF-PRF   377602195 -3014291.72
1CPMON BZ   CIA PETROLIFERA    377602195 -3014291.72
1CPMPN BZ   CIA PETROLIF-PRF   377602195 -3014291.72
LATF US     LATTENO FOOD COR    16631180    -1448544
VPTA3 BZ    VARIG PART EM TR    49432124  -399290426
VPTA4 BZ    VARIG PART EM-PR    49432124  -399290426
VPSC3 BZ    VARIG PART EM SE   101177852  -318442006
VPSC4 BZ    VARIG PART EM-PR   101177852  -318442006


COLOMBIA

TL US       CHILESAT CO-ADR    450943845 -52392581.3
TELEX CI    CHILESAT CORP SA   450943845 -52392581.3
CHISATOS CI CHILESAT CO-RTS    450943845 -52392581.3
CHILESAT CI TELMEX CORP SA     450943845 -52392581.3
TELEXA CI   TELEX-A            450943845 -52392581.3
CSAOY US    TELMEX CORP-ADR    450943845 -52392581.3
TELEXO CI   TELEX-RTS          450943845 -52392581.3


                            ***********

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.


           * * * End of Transmission * * *