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

              Thursday, March 11, 2010, Vol. 11, No. 049

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD FINANCIAL: Victims Join Madoff Investors to Lobby Payback


A R G E N T I N A

AA INVESTMENTS: Appoints Middleton, Lan and Thresh as Liquidators
ASIA ALUMINUM: Appoints Yu, Sutton and McKenna as Liquidators
CHEVRON KHAZAR: Creditors' Proofs of Debt Due on March 17
CHEVRON KHAZAR: Members to Receive Wind-Up Report on April 7


B E R M U D A

CENTRAL EUROPEAN MEDIA: bTV Acquistion May Help Boost Ebitda
PROTOSTAR LTD: U.S. Court Extends DIP Loan Maturity Until May 18


B R A Z I L

COMPANHIA SIDERURGICA: Spins-off Units to Boost Value
GERDAU SA: Gerdau Aza Resumes Ops. and Freezes Rebar Prices for H1
ISA CAPITAL: Tender Offer for 2017 Notes Expired on March 8


C A Y M A N  I S L A N D S

ALBION FUND: Commences Wind-Up Proceedings
ALBION MASTER: Commences Wind-Up Proceedings
ARAGOSTA FUND: Commences Wind-Up Proceedings
ASTERION (GP): Commences Wind-Up Proceedings
AXIOM ASIA: Commences Wind-Up Proceedings

BAVARIAN FUTURE: Commences Liquidation Proceedings
BB EUROPE: Commences Wind-Up Proceedings
BE2 LIMITED: Commences Wind-Up Proceedings
BREVAN HOWARD: Commences Liquidation Proceedings
COBALT HOLDINGS: Commences Wind-Up Proceedings

CT ASSET: Commences Wind-Up Proceedings
CT FINANCIAL: Commences Wind-Up Proceedings
E2 INC: Commences Wind-Up Proceedings
FOCUS STAR: Commences Wind-Up Proceedings
GREY K OFFSHORE: Commences Wind-Up Proceedings

GUAM-PHILIPPINE: Commences Liquidation Proceedings
HARBOUR DIRECTORS: Commences Liquidation Proceedings
HARBOUR DIRECTORS: Commences Liquidation Proceedings
HARBOUR NOMINEES: Commences Liquidation Proceedings
HARBOUR SECRETARIES: Commences Liquidation Proceedings

INVESCORP: Commences Wind-Up Proceedings
KALAMAKI LTD: Commences Wind-Up Proceedings
M & S INVESTMENTS: Commences Wind-Up Proceedings
OPUS EQUITY: Commences Liquidation Proceedings
SR LATIGO: Commences Liquidation Proceedings

SUCCESSOR X: S&P Assigns 'B-' Rating on Class II-CN3 Notes
TE BALIOS: Commences Wind-Up Proceedings
TE BALIOS: Commences Wind-Up Proceedings
TRANSPARENT LTD: Commences Wind-Up Proceedings
UBS NEUTRAL: Commences Liquidation Proceedings

UNIFUND H: Commences Wind-Up Proceedings


D O M I N I C A N  R E P U B L I C

AES DOMINICANA: Plants Supply 53.4% of Dominican Republic's Energy


J A M A I C A

AIR JAMAICA: Cabinet Yet to Sign Off on Divestment Deal
AIR JAMAICA: In Breach of Labor Laws, National Workers Union Says
AIR JAMAICA: Ends Services to Orlando International Airport
NATIONAL COMMERCIAL BANK: Harbour View Staff to Be Absorbed


P E R U

DOE RUN PERU: Sets No Date Yet to Resume Smelter


T R I N I D A D  &  T O B A G O

COLOMBUS INTERNATIONAL: Flow Plans US$250 Million Cable Expansion


V E N E Z U E L A

CITGO PETROLEUM: Restarts Crude Unit at Lemont Refinery
PETROLEOS DE VENEZUELA: In Talks with Petrobras Over Lima Venture
PETROLEOS DE VENEZUELA: Unit Starts Chicken Meat Production
SANTA CLARA MILL: Venezuela Seizes Control of Operations
SANTA ELENA MILL: Venezuela Takes Control of Operations


X X X X X X X X
* Upcoming Meetings, Conferences and Seminars





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


STANFORD FINANCIAL: Victims Join Madoff Investors to Lobby Payback
------------------------------------------------------------------
According to reporting by Robert Schmidt and Jesse Westbrook,
victims of Bernard Madoff and accused Ponzi schemer R. Allen
Stanford are banding together to lobby Congress for a law that
could require Wall Street firms to pay billions of dollars to
cover some of the losses they suffered.

The Bloomberg report relates that the groups aim to persuade
Congress to add a requirement to the regulatory overhaul bill, now
under Senate consideration, that brokerage firms pay about
$4 billion in additional fees to the Securities Investor
Protection Corp. fund.  SIPC protects U.S. investors' accounts
against fraud or bankruptcy.  The victims also want Congress to
require the fund to compensate them up to US$500,000 each in
losses.

According to Bloomberg, both groups of victims want the Senate
measure to require brokerage firms, which paid only US$150 each
annually into the SIPC fund for more than a decade until 2009, to
pony up the estimated US$4 billion in retroactive charges.

Bloomberg notes that SIPC, created by Congress in 1970, has a
limited mandate, unlike the Federal Deposit Insurance Corp., which
insures bank accounts up to US$250,000 per depositor.  The fund is
arguing that the Stanford investors are not covered because they
purchased their fraudulent securities from a foreign bank --
Stanford's investment products were issued through a bank in
Antigua -- even though his firm had operations in the U.S. and
made payments to SIPC.

SIPC also won't cover the claims of Madoff victims who withdrew
more money from Madoff's funds than they put in.  Despite
objections by victims, a bankruptcy judge has affirmed a
liquidating trustee's proposal to disregard phony profits in
paying off claims of Madoff victims.

                   About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L.
Madoff orchestrated the largest Ponzi scheme in history, with
losses topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the
U.S. District Court for the Southern District of New York granted
the application of the Securities Investor Protection Corporation
for a decree adjudicating that the customers of BLMIS are in need
of the protection afforded by the Securities Investor Protection
Act of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in
United States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

               About Stanford International Bank

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

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

The U.S. Securities and Exchange Commission, on Feb. 17, 2009,
charged before the U.S. District Court in Dallas, Texas, Mr.
Stanford and three of his companies for orchestrating a
fraudulent, multi- billion dollar investment scheme centering on
an US$8 billion Certificate of Deposit program.

A criminal case was pursued against him in June 2009 before the
U.S. District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney General
Lanny Breuer, as cited by Agence France-Presse News, said in a 57-
page indictment that Mr. Stanford could face up to 250 years in
prison if convicted on all charges.  Mr. Stanford surrendered to
U.S. authorities after a warrant was issued for his arrest on the
criminal charges.

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


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


AA INVESTMENTS: Appoints Middleton, Lan and Thresh as Liquidators
-----------------------------------------------------------------
On February 11, 2010, Edward Simon Middleton, Chan Mei Lan and
Charles Thresh were appointed as liquidators of AA Investments
Company Limited.


ASIA ALUMINUM: Appoints Yu, Sutton and McKenna as Liquidators
-------------------------------------------------------------
On February 11, 2010, Fok Hei Yu, Roderick John Sutton and John C.
McKenna were appointed as liquidators of Asia Aluminum Holdings
Limited.


CHEVRON KHAZAR: Creditors' Proofs of Debt Due on March 17
---------------------------------------------------------
The creditors of Chevron Khazar Holdings, Ltd. are required to
file their proofs of debt by March 17, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on March 1, 2010.

The company's liquidator is:

         Gary R. Pitman
         Chevron House, 11 Church Street
         Hamilton, Bermuda


CHEVRON KHAZAR: Members to Receive Wind-Up Report on April 7
------------------------------------------------------------
The members of Chevron Khazar Holdings, Ltd. will receive on,
April 7, 2010, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on March 1, 2010.

The company's liquidator is:

         Gary R. Pitman
         Chevron House, 11 Church Street
         Hamilton, Bermuda


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


CENTRAL EUROPEAN MEDIA: bTV Acquistion May Help Boost Ebitda
------------------------------------------------------------
Central European Media Enterprises Ltd. expects the acquisition of
Bulgarian TV station bTV may help it post positive full-year
Ebitda, Novinite.com reports.

As reported in the Troubled Company Reporter-Latin America on
March 9, 2010, Bloomberg News said that Central European
Media aimed to report "better" earnings in 2010 as it sold its
Ukrainian operations and relies on a regional recovery.  The
report related Chief Executive Officer Adrian Sarbu said that the
company will strive to post higher earnings before interest,
taxes, depreciation and amortization across its operations.

According to a TCRLA report on February 24, 2010, Central European
entered into an agreement with News Corporation to acquire bTV,
the free-to-air commercial television channel in Bulgaria, as well
as the bTV Cinema and bTV Comedy cable channels and 74% of Radio
Company C.J. OOD which operates several radio stations (the bTV
Group).  Total consideration, which is payable in cash, is US$400
million on a cash-free and debt-free basis.

                   About Central European Media

Headquartered in Bermuda, Central European Media Enterprises Ltd.
-- http://www.cetv-net.com/-- invests in, develops and operates
commercial television channels in Central and Eastern Europe.  At
present, the Company has operations in Bulgaria, Croatia, the
Czech Republic, Romania, the Slovak Republic, Slovenia and
Ukraine.  The Company holds its assets through a series of Dutch
and Netherlands Antilles holding companies.  It has ownership
interests in license companies and operating companies in each
market in which it operates.  Operations are conducted either by
the license companies themselves or by separate operating
companies.  The Company generates revenues primarily through
entering into agreements with advertisers, advertising agencies
and sponsors to place advertising on air of the television
channels that it operates.

                           *     *     *

As reported in the Troubled Company Reporter-Europe on March 4,
2010, Moody's Investors Service has affirmed the B2 Corporate
Family Rating and the B2 Probability of Default Rating of Central
European Media Enterprises Ltd and revised the outlook on the
ratings to stable from negative.  At the same time, Moody's
downgraded to B3 from B2 the rating of the company's
EUR150 million senior notes due 2014.


PROTOSTAR LTD: U.S. Court Extends DIP Loan Maturity Until May 18
----------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware approved a stipulation, authorizing ProtoStar
Ltd. and its debtor-affiliates to:

   -- obtain postpetition financing from Credit Suisse AG, Cayman
      Islands Branch fka Credit Suisse, Cayman Islands Branch, as
      administrative agent, and  Credit Suisse AG, Singapore
      Branch fka Credit Suisse, Singapore Branch, as collateral
      agent;

   -- grant DIP lenders liens and superpriority claims;

   -- use cash collateral; and

   -- provide adequate protection to their prepetition lenders.

The stipulation is entered among the Debtors and the postpetition
secured parties.

The stipulation provided for (i) the amendment, for the second
time, of the senior secured superpriority debtor-in-possession
multiple draw term loan agreement dated as of August 3, 2009; and
(ii) the extension of the DIP loan until May 18, 2010.

                        About ProtoStar Ltd.

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.

Also on July 29, 2009, ProtoStar and its affiliates, including
ProtoStar Development Ltd., commenced a coordinated proceeding in
the Supreme Court of Bermuda.  John C. McKenna of Finance & Risk
Services Ltd. as liquidator of the Bermuda Group.

In their Chapter 11 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.


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B R A Z I L
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COMPANHIA SIDERURGICA: Spins-off Units to Boost Value
-----------------------------------------------------
Companhia Siderurgica Nacional S.A. will start a gradual spin-off
of its main business divisions with an initial public offering of
its iron ore unit, Casa de Pedra, in a bid to increase the value
of the group's assets, Alberto Alerigi Jr. at Reuters reports,
citing Chief Executive Benjamin Steinbruch.  The report relates
that Mr. Steinbruch said that CSN the share offering may start in
April and is expected to be concluded by the end of June.  The
company could also sell stakes in its cement, steelmaking, energy
and logistics units to investors and list them separately, Mr.
Steinbruch added.

According to the report, the company's plan could help it fetch a
better value for its business, helping Mr. Steinbruch raise money
for acquisitions outside Brazil.

Mr. Steinbruch, the report notes, said that the company wants to
merge the Casa de Pedra iron ore mine with a portion of the MRS
railway assets.  The report relates Mr. Steinbruch said that the
group is in talks with partners of its Namisa iron ore unit to
merge those assets to ramp up the value of the unit in an eventual
IPO by gaining muscle and size.  If no accord is reached by the
end of this month, Namisa will be excluded from the IPO plan, he
added.

Meanwhile, the report says, CSN plans to invest about BRL3 billion
(US$1.68 billion) annually through 2014, more than the BRL2
billion spent annually in expansion in 2008 and 2009.

                             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 January 12, 2010, 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+.


GERDAU SA: Gerdau Aza Resumes Ops. and Freezes Rebar Prices for H1
------------------------------------------------------------------
Gerdau Aza, the local subsidiary of Gerdau SA, has resumed
operations at its hot rolling plant in the metropolitan region's
Renca district, Steel Guru News reports, citing Business News
Americas.  The report relates that an unnamed company spokesperson
told BNamericas that "However, the restart of operations at the
Colina complex including a steel mill and hot rolling plant-
remains uncertain as damage is still being evaluated."

According to the report, the two plants were affected by the 8.8
magnitude earthquake that hit central and southern Chile on
February 27, 2010.

The report relates that Gerdau Aza will also freeze steel rebar
prices during H1 as a way to help infrastructure and housing
reconstruction, the company said in a press release, adding that
prices from February 27 will remain the same until June 30.  If
international prices and costs during the second half stay the
same as those in H1, rebar prices will not change for the entire
year, the company said, the report notes.

                           About Gerdau S.A.

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

                           *     *     *

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


ISA CAPITAL: Tender Offer for 2017 Notes Expired on March 8
-----------------------------------------------------------
Isa Capital do Brasil's cash tender offer and consent solicitation
for its outstanding 8.800% Senior Notes due 2017 expired at 5:00
p.m., New York City time, on March 8, 2010.

A total of US$322,349,000.00 aggregate principal amount of the
Notes (approximately 91.06% of the aggregate principal amount of
the Notes outstanding) were tendered and not withdrawn before the
Expiration Date.

The Total Consideration per US$1,000 principal amount of Notes was
US$1,117.50, which included a consent payment equal to US$35.00
per US$1,000 principal amount of Notes.  Holders who validly
tendered their Notes after 5:00 p.m., New York City time, on
February 24, 2010 but prior to 5:00 p.m., New York City time, on
the Expiration Date, will receive the Tender Consideration of
US$1,082.50 per US$1,000 principal amount of Notes, which
corresponds to the Total Consideration minus the Consent Payment.

The Company will pay the Tender Consideration or Total
Consideration, as applicable, as promptly as practicable after the
Expiration Date and acceptance by the Company of validly tendered
Notes (the "Payment Date").  All holders who validly tendered
their Notes in the tender offer and whose Notes were accepted for
purchase by the Company will also receive accrued and unpaid
interest per US$1,000 principal amount of Notes from the last
interest payment date to, but not including, the Payment Date.

Promptly after the Consent Date, the Company and The Bank of New
York Mellon, as trustee, executed an indenture supplement other
things, eliminate substantially all of the restrictive covenants
and certain event of default provisions in the Indenture.  Upon
the Company's acceptance for purchase of the Notes validly
tendered prior to the Expiration Date and the delivery of a notice
to such effect to the Trustee, the Indenture Supplement will
become effective.

Holders can obtain additional copies of the Offer to Purchase and
Consent Solicitation Statement and related material from the
Information, Tender and Consent Agent, Global Bondholder Services
Corporation at (866) 873-6300 (toll free) or at (212) 430-3774
(call collect).  The Company has retained HSBC Securities (USA)
Inc. ("HSBC") to act as sole Dealer Manager and Solicitation
Agent.  Holders with questions about the Offer to Purchase and
Consent Solicitation can contact HSBC's Liability Management Group
at (888) HSBC-4LM (toll-free) or +1 (212) 525-5552 (collect) or
via e-mail at liability.management@hsbcib.com

The tender offer and consent solicitation were made solely on the
terms and conditions set forth in the Offer to Purchase and
Consent Solicitation Statement dated February 8, 2010.

                       About Isa Capital do Brasil

Isa Capital do Brasil is a Brazilian stock corporation formed on
April 28, 2006 to participate in the sale by the government of the
State of Sao Paulo of approximately 31.34 billion shares of
CTEEP's common stock representing 50.10% of the CTEEP common stock
and 21% of the CTEEP capital stock.  As of the date of the Consent
Solicitation Statement, the company owned approximately 89.4% of
CTEEP's common stock and 37.5% of CTEEP's capital stock.  The
Company is a holding company and engages only in limited business
activities.  CTEEP is a Brazilian publicly-traded company engaged
in the business of transmitting electricity from generation
facilities to distribution networks and independent consumers.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 8, 2009, Standard & Poor's Ratings Services said that it has
revised its ratings on:

           Isa Capital do Brasil S.A.

           Corporate Credit Rating       BB+/Stable/--
           Senior Unsecured Debt         BB



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C A Y M A N  I S L A N D S
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ALBION FUND: Commences Wind-Up Proceedings
------------------------------------------
The Albion Fund commenced wind-up proceedings on December 22,
2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Alan Turner
         c/o Turner & Roulstone
         P.O. Box 2636, 3rd Floor Strathvale House
         90 North Church Street
         Grand Cayman KY1-1102, Cayman Islands
         Telephone: +345 943 5555


ALBION MASTER: Commences Wind-Up Proceedings
--------------------------------------------
The Albion Master Fund commenced wind-up proceedings on
December 22, 2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Alan Turner
         c/o Turner & Roulstone
         P.O. Box 2636, 3rd Floor Strathvale House
         90 North Church Street
         Grand Cayman KY1-1102, Cayman Islands
         Telephone: +345 943 5555


ARAGOSTA FUND: Commences Wind-Up Proceedings
--------------------------------------------
Aragosta Fund, Ltd. commenced wind-up proceedings on December 10,
2009.

Only creditors who were able to file their proofs of debt by
January 12, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Khatidja McLean
         Telephone: (345) 815 1760
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


ASTERION (GP): Commences Wind-Up Proceedings
--------------------------------------------
Asterion (GP) II, Ltd. commenced wind-up proceedings on
December 21, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Richard L. Finlay
         c/o Noel Webb
         Telephone: (345) 945 3901
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


AXIOM ASIA: Commences Wind-Up Proceedings
-----------------------------------------
Axiom Asia Private Capital Advisory Services Ltd commenced wind-up
proceedings on December 18, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Richard Finlay
         c/o Richard Barton
         Telephone: (345) 814 7765
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


BAVARIAN FUTURE: Commences Liquidation Proceedings
--------------------------------------------------
Bavarian Future Flows, Ltd. commenced liquidation proceedings on
December 16, 2009.

Only creditors who were able to file their proofs of debt by
February 4, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Stuart Sybersma
         c/o Rob Rintoul
         Deloitte & Touche
         P.O. Box 1787, Grand Cayman KY1-1109
         Cayman Islands
         Telephone: (345) 949 7500
         Facsimile: (345) 949 8258
         e-mail: echarlton@deloitte.com


BB EUROPE: Commences Wind-Up Proceedings
----------------------------------------
BB Europe General Partner Ltd commenced wind-up proceedings on
December 14, 2009.

Only creditors who were able to file their proofs of debt by
February 3, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9004, Cayman Islands


BE2 LIMITED: Commences Wind-Up Proceedings
------------------------------------------
BE2 Limited commenced wind-up proceedings on December 10, 2009.

Only creditors who were able to file their proofs of debt by
February 3, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


BREVAN HOWARD: Commences Liquidation Proceedings
------------------------------------------------
Brevan Howard India Opportunities Fund Limited commenced
liquidation proceedings on December 14, 2009.

Only creditors who were able to file their proofs of debt by
February 4, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Keith Blake
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands
         c/o Gerhard Albertyn
         Telephone: 345-914-4395
         Facsimile: 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-4800
         Facsimile: 345-949-7164


COBALT HOLDINGS: Commences Wind-Up Proceedings
----------------------------------------------
Cobalt Holdings Limited commenced wind-up proceedings on
December 16, 2009.

Only creditors who were able to file their proofs of debt by
February 3, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Baraterre Limited
         c/o Philip Sutcliffe
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949 0880
         Facsimile: (345) 949 0881
         P.O. Box 847, George Town
         Grand Cayman KY1-1103


CT ASSET: Commences Wind-Up Proceedings
---------------------------------------
CT Asset Management (Cayman) Limited commenced wind-up proceedings
on December 17, 2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Richard Finlay
         c/o Richard Barton
         Telephone: (345) 814 7765
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


CT FINANCIAL: Commences Wind-Up Proceedings
-------------------------------------------
CT Financial Products (Cayman) Limited commenced wind-up
proceedings on December 17, 2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Richard Finlay
         c/o Richard Barton
         Telephone: (345) 814 7765
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


E2 INC: Commences Wind-Up Proceedings
-------------------------------------
E2 Inc commenced wind-up proceedings on December 14, 2009.

Only creditors who were able to file their proofs of debt by
February 1, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Royhaven Secretaries Limited
         c/o Julie Reynolds
         Telephone: 945 4777
         Facsimile: 945 4799
         P.O. Box 707, Grand Cayman KY1-1107
         Telephone: 945-4777
         Facsimile: 945-4799


FOCUS STAR: Commences Wind-Up Proceedings
-----------------------------------------
Focus Star Fund Ltd. commenced wind-up proceedings on December 18,
2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Michael Lubin
         Telephone: (345) 815-1793
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


GREY K OFFSHORE: Commences Wind-Up Proceedings
----------------------------------------------
Grey K Offshore Leveraged Fund, Ltd. commenced wind-up proceedings
on September 18, 2008.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Susan Taber
         Telephone: (345) 815-1889
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


GUAM-PHILIPPINE: Commences Liquidation Proceedings
--------------------------------------------------
Guam-Philippine Cable Company commenced liquidation proceedings on
December 9, 2009.

Only creditors who were able to file their proofs of debt by
February 4, 2009, will be included in the company's dividend
distribution.

The company's liquidator is:

         Simon Whicker
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands
         c/o Alex Watkins
         Telephone: 345-914-4421
         Facsimile: 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-4800
         Facsimile: 345-949-7164


HARBOUR DIRECTORS: Commences Liquidation Proceedings
----------------------------------------------------
Harbour Directors II Ltd. commenced liquidation proceedings on
December 15, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


HARBOUR DIRECTORS: Commences Liquidation Proceedings
----------------------------------------------------
Harbour Directors I Ltd. commenced liquidation proceedings on
December 15, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


HARBOUR NOMINEES: Commences Liquidation Proceedings
---------------------------------------------------
Harbour Nominees Ltd. commenced liquidation proceedings on
December 15, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


HARBOUR SECRETARIES: Commences Liquidation Proceedings
------------------------------------------------------
Harbour Secretaries I Ltd. commenced liquidation proceedings on
December 15, 2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


INVESCORP: Commences Wind-Up Proceedings
----------------------------------------
Invescorp commenced wind-up proceedings on December 4, 2009.

Only creditors who were able to file their proofs of debt by
January 29, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


KALAMAKI LTD: Commences Wind-Up Proceedings
-------------------------------------------
Kalamaki Ltd. commenced wind-up proceedings on December 12, 2009.

Only creditors who were able to file their proofs of debt by
January 15, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


M & S INVESTMENTS: Commences Wind-Up Proceedings
------------------------------------------------
M & S Investments Limited commenced wind-up proceedings on
December 18, 2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345 949-7128


OPUS EQUITY: Commences Liquidation Proceedings
----------------------------------------------
Opus Equity Fund Limited commenced liquidation proceedings on
December 18, 2009.

Only creditors who were able to file their proofs of debt by
February 4, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Nicolas Matthews
         c/o Camele Burke
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004
         Cayman Islands
         Telephone: (345) 623 9904
         Facsimile: (345) 943 9900


SR LATIGO: Commences Liquidation Proceedings
--------------------------------------------
SR Latigo Offshore Feeder MA Ltd. commenced liquidation
proceedings on December 17, 2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe, London


SUCCESSOR X: S&P Assigns 'B-' Rating on Class II-CN3 Notes
----------------------------------------------------------
Standard & Poor's Ratings Services assigned its preliminary 'B-'
credit rating to the class II-CN3 notes series 2010-1 issued under
the principal at-risk variable-rate note program, Successor
X Ltd.

Swiss Reinsurance Company Ltd. (A+/Stable/A-1) sponsors the
program, which aims to transfer to the noteholders major North
Atlantic hurricane risk and major European windstorm risk between
March 2010 and March 2013.

This transaction is the first catastrophe bond that S&P has rated
using PERILS AG's industry benchmark for European windstorm
catastrophes.  Various shareholders established PERILS in January
2009 to collect anonymous aggregated information on insurance
industry related catastrophe loss estimates for the European
continent following catastrophic events.


TE BALIOS: Commences Wind-Up Proceedings
----------------------------------------
Te Balios Portfolio, Ltd. commenced wind-up proceedings on
December 17, 2009.

Only creditors who were able to file their proofs of debt by
February 3, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


TE BALIOS: Commences Wind-Up Proceedings
----------------------------------------
Te Balios Investors, Ltd. commenced wind-up proceedings on
December 17, 2009.

Only creditors who were able to file their proofs of debt by
February 3, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

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


TRANSPARENT LTD: Commences Wind-Up Proceedings
----------------------------------------------
Transparent Ltd. commenced wind-up proceedings on December 10,
2009.

Only creditors who were able to file their proofs of debt by
January 25, 2010, will be included in the company's dividend
distribution.

The company's liquidators are:

         Lorna Kemp
         Margaret Tatem-Gilbert
         c/o EFG Bank & Trust (Bahamas) Ltd.
         Centre of Commerce, 2nd Floor
         1 Bay Street, P.O. Box SS 6289
         Nassau, Bahamas
         Telephone: + (242) 502-5415
         Facsimile: + (242) 502-5494


UBS NEUTRAL: Commences Liquidation Proceedings
----------------------------------------------
UBS Neutral Alpha Strategies (Euro) Limited commenced liquidation
proceedings on December 14, 2009.

Only creditors who were able to file their proofs of debt by
February 4, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Stuart Sybersma
         c/o Jennifer Chailler
         Deloitte & Touche
         P.O. Box 1787, Grand Cayman KY1-1109
         Cayman Islands
         Telephone: (345) 949 7500
         Facsimile: (345) 949 8258
         e-mail: jchailler@deloitte.com


UNIFUND H: Commences Wind-Up Proceedings
----------------------------------------
The Unifund H Ltd. commenced wind-up proceedings on December 14,
2009.

Only creditors who were able to file their proofs of debt by
January 26, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Patrick Rosenfeld
         Telephone: (345) 815 1851
         Facsimile: (345) 949 1986
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


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


AES DOMINICANA: Plants Supply 53.4% of Dominican Republic's Energy
------------------------------------------------------------------
AES Dominicana Energia Finance S.A. and the AES group said it
contributes 53.4% of all the energy currently placed in the
National Interconnected Electrical System, The Dominican Today
reports.  The report relates the company said that "historical
contribution" would lead to an improvement in the electricity
service, with 710 megawatts supplied to the SENI based on the two
most competitive fossil fuels in prices and with the most
efficient generating plants.

According to the report, the AES Dominicana plants that provided
the energy to the SENI are:

   -- AES Andres supplies 288 megawatts;
   -- AES Los Mina provides 186; and
   -- the units at Itabo contribute 236 megawatts to the SENI.

"AES Dominicana is an important support of the SENI since jointly
with the energy production it provides the frequency regulation
service, fundamental to maintain the system's stability," the
report quoted SENI as saying.

                       About AES Dominicana

AES Dominicana Energia Finance S.A. is an energy group operating
in the Dominican Republic, which manages two of AES Corp.'s
wholly owned generation assets, Andres and DPP.  AES Dominicana,
through an AES Corp subsidiary, also has a management agreement
to operate EDE-Este, one of the three distribution companies in
the country.  Andres is a power plant with a 304MW combined
cycle generation facility with duel fuel capability (gas and
diesel) but with natural gas supplied through the LNG import
facility serving as the primary fuel while DPP is a 236MW power
plant comprising two simple cycle combustion turbines that can
burn both natural gas and fuel oil Number 2.  Both plants
together have PPA contracts with EDE-Este for 260MW that
increase over time, but Andres is currently servicing all
contracts given its greater efficiency.  Andres LNG terminal
includes a large tanker berth and jetty, an LNG refueling pier,
and a one million barrel (160,000 cubic meters, m3) LNG storage
tank, as well as regasification and handling facilities for both
LNG and diesel.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 30, 2009, Fitch Ratings has affirmed AES Dominicana Energia
Finance, S.A.'s international foreign currency Issuer Default
Rating at 'B-'.  The rating action applies to US$160 million of
notes due 2015 issued by AES Dominicana.  The Recovery Rating has
also been affirmed at 'RR4'.  The Rating Outlook is Stable.


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

AIR JAMAICA: Cabinet Yet to Sign Off on Divestment Deal
-------------------------------------------------------
Air Jamaica Limited's divestment date is still unclear as the
Cabinet has yet to sign off on the agreement for final approval,
RadioJamaica reports.  According to the report, Information
Minister Daryl Vaz Daryl Vaz has not been informed when a
submission will be made.  "The final agreement has not reached
cabinet yet," the report quoted Mr. Vaz as saying.

As reported in the Troubled Company Reporter-Latin America on
March 9, 2010, South Florida Caribbean News said that Air Jamaica
has revealed important points to note as the airline will begin
the transition to Caribbean Airlines:

  -- The transition to Caribbean Airlines will be phased over
     a period of up to one year, in order to ensure that
     customers will continue to be provided with the best
     possible travel experience.

  -- Air Jamaica aircraft will continue to be utilized during the
     transition period.

  -- Current Air Jamaica pilots, flight crews and ground staff
     will operate the aircraft for the schedule already
     published.

  -- All customer services, including reservations, Web site and
     sales, will continue to operate for a period of time.

                       About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government owned 25% of the company after it went private
in 1994.  However, in late 2004, the government assumed full
ownership of the airline after an investor group turned over its
75% stake.  The Jamaican government does not plan to own Air
Jamaica permanently.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 27, 2010, Moody's Investors Service changed the ratings
outlook of Air Jamaica Limited to stable.  The Corporate Family
and senior unsecured ratings of Air Jamaica are affirmed at Caa1.
The change in outlook mirrors the change of the outlook of the
foreign currency bond rating of The Government of Jamaica to
stable, which occurred on January 22, 2010.  The ratings reflect
Jamaica's unconditional and irrevocable guarantee of the rated
debt obligations of Air Jamaica.  The foreign currency bond rating
of Jamaica remains Caa1, notwithstanding the January 22, 2010
downgrade of Jamaica's local currency bond rating by Moody's to
Caa2.

As reported in the TCR-LA on November 5, 2009, Standard & Poor's
Ratings Services said that it lowered its long-term corporate
credit rating on Air Jamaica Ltd. to 'CCC' from 'CCC+'.  The
outlook is negative.


AIR JAMAICA: In Breach of Labor Laws, National Workers Union Says
-----------------------------------------------------------------
The National Workers Union, the union representing the airline's
workers, said that it have discovered that the management breached
the Jamaica's labor laws when it disclosed that staff cuts would
be carried out on April 12, RadioJamaica reports.  The report
relates NWU Vice President Granville Valentine said that the
airline among other things, failed to inform the unions of the
redundancy exercise as is required by law.

"They went even further; they're now issuing the workers' records
to Caribbean Airlines without the unions' intervention or
knowledge and now Caribbean Airlines is carrying out interviews.
This is a breach against the airline's own rules and regulations,"
the report quoted Mr. Valentine as saying.

According to the report, the unions have already warned that there
will be trouble if redundancy benefits are not paid on the date
that the staff cuts are carried out.

                       About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government owned 25% of the company after it went private
in 1994.  However, in late 2004, the government assumed full
ownership of the airline after an investor group turned over its
75% stake.  The Jamaican government does not plan to own Air
Jamaica permanently.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 27, 2010, Moody's Investors Service changed the ratings
outlook of Air Jamaica Limited to stable.  The Corporate Family
and senior unsecured ratings of Air Jamaica are affirmed at Caa1.
The change in outlook mirrors the change of the outlook of the
foreign currency bond rating of The Government of Jamaica to
stable, which occurred on January 22, 2010.  The ratings reflect
Jamaica's unconditional and irrevocable guarantee of the rated
debt obligations of Air Jamaica.  The foreign currency bond rating
of Jamaica remains Caa1, notwithstanding the January 22, 2010
downgrade of Jamaica's local currency bond rating by Moody's to
Caa2.

As reported in the TCR-LA on November 5, 2009, Standard & Poor's
Ratings Services said that it lowered its long-term corporate
credit rating on Air Jamaica Ltd. to 'CCC' from 'CCC+'.  The
outlook is negative.


AIR JAMAICA: Ends Services to Orlando International Airport
-----------------------------------------------------------
Air Jamaica Limited has ended its services to the Orlando
International Airport in Florida, Caribbean World news reports.
The report relates that the move comes on the heels of the
conclusion of service to Grenada as Air Jamaica works vigorously
to scale back service ahead of the tentative sale to Caribbean
Airlines.

According to the report, the airline is also set to suspend
service from Jamaica to Chicago, Curacao, Havana, Cuba and Nassau,
Bahamas on April 12.  The report relates that by the middle of
next month, Air Jamaica will operate 161 weekly flights between
Jamaica and five cities with six aircraft, down from nine.

                       About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  The
Jamaican government owned 25% of the company after it went private
in 1994.  However, in late 2004, the government assumed full
ownership of the airline after an investor group turned over its
75% stake.  The Jamaican government does not plan to own Air
Jamaica permanently.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 27, 2010, Moody's Investors Service changed the ratings
outlook of Air Jamaica Limited to stable.  The Corporate Family
and senior unsecured ratings of Air Jamaica are affirmed at Caa1.
The change in outlook mirrors the change of the outlook of the
foreign currency bond rating of The Government of Jamaica to
stable, which occurred on January 22, 2010.  The ratings reflect
Jamaica's unconditional and irrevocable guarantee of the rated
debt obligations of Air Jamaica.  The foreign currency bond rating
of Jamaica remains Caa1, notwithstanding the January 22, 2010
downgrade of Jamaica's local currency bond rating by Moody's to
Caa2.

As reported in the TCR-LA on November 5, 2009, Standard & Poor's
Ratings Services said that it lowered its long-term corporate
credit rating on Air Jamaica Ltd. to 'CCC' from 'CCC+'.  The
outlook is negative.


NATIONAL COMMERCIAL BANK: Harbour View Staff to Be Absorbed
-----------------------------------------------------------
All of National Commercial Bank Jamaica Ltd's Harbour View branch
employees will be absorbed into the network amid the relocation
exercise.

National Commercial Bank Jamaica Ltd. will relocate its Harbour
View branch at the Harbour View Shopping Centre to the Windward
Road branch location at 89-91 Windward Road, Kingston 2.  This
move is in response to concerns the Bank has been experiencing
with the premises over a period of time.

"We were experiencing infrastructural challenges with the Harbour
View premises which has led us to conclude that we can no longer
operate from that location," reported Sheree Martin, Senior
Assistant General Manager, NCB Group Marketing & Communications.

The Windward Road branch is some ten minutes from the Harbour View
Shopping Centre en route to Kingston and boasts a Drive Thru
Teller, secured branch parking, wheel chair access and additional
tellers which will result in improved transaction turnaround time
for customers.

NCB has also stated that ABMs will remain accessible in secure and
convenient locations within the Harbour View area to ensure that
they can continue to facilitate most day-to-day banking schedules
of the affected customers. T he NCB Sales Team will continue to
make calls on the customers in these communities and the Bank's
community development activities through its philanthropic arm,
the NCB Foundation will be ongoing.

                         About NCB Jamaica

Headquartered in Kingston, Jamaica, the National Commercial Bank
Jamaica Limited -- http://www.jncb.com/-- provides commercial
and retail banking, wealth management services.  The company's
services include personal banking, business banking, mortgage
loans, wealth management and insurance services.  Founded in
1977, the bank primarily operates in West Indies and the U.K.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 1, 2010, Fitch Ratings upgraded the ratings of Jamaica-based
National Commercial Bank Jamaica Limited's Long-term foreign and
local currency Issuer Default Rating to 'B-' from 'CCC'; Short-
term foreign and local currency IDR to 'B' from 'C'; and Support
floor to 'B-' from 'CCC'.


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


DOE RUN PERU: Sets No Date Yet to Resume Smelter
------------------------------------------------
Patricia Velez at Doe Run Peru reports that Doe Run Peru said it
does not know when it will restart its La Oroya smelter despite
reaching a financial deal to resume operations.

As reported in the Troubled Company Reporter-Latin America on
March 3, 2010, LivinginPeru.com said that Doe Run Peru signed a
Letter of Intent with Glencore, in order to support the resumption
of its metallurgic operations in La Oroya.  The report related
that the Letter of Intent stated that Glencore will give Doe Run
Peru a credit that has also the possibility of being used as
working capital, to contribute with the operations restart.  The
report noted that it will also be part of the necessary financing
of Doe Run's environmental adjustment and management.

According to a TCRLA report on January 26, 2010, Bloomberg News
said that Doe Run Peru is "close" to reaching an agreement on
US$156 million of debt to reopen its zinc and lead smelter.  The
report recalled that Doe Run Peru filed for a government-monitored
financial restructuring because it was worried creditors might try
to freeze its assets or operations.  Reuters related that Doe Run
Peru owes some US$100 million to its suppliers and needs to spend
another US$150 million to clean up La Oroya.

                        About Doe Run Peru

Doe Run Peru operates an integrated primary lead operation and a
recycling operation located in Missouri, referred to as Buick
Resource Recycling.  Fabricated Products operates a lead
fabrication operation located in Arizona and a lead oxide
business located in Washington.

                          *     *     *

As of May 21, 2009, the company continues to carry Moody's bank
financial strength at D- and Fitch Ratings individual rating at D.


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


COLOMBUS INTERNATIONAL: Flow Plans US$250 Million Cable Expansion
-----------------------------------------------------------------
Curtis Rampersad at Trinidad Express reports that Columbus
International Inc. will spend US$250 million to expand operations
in Trinidad and Tobago this year.  Columbus will continue with the
'aggressive rebuild and expansion of its service footprint across
the country', the company said in a statement obtained by the
Express.  Columbus International operates under the cable TV and
broadband network Flow in Trinidad and Tobago.

According to the report, Columbus will invest US$250 million in
2010, bringing the amount of invested capital to US$1 billion
since 2005.  The report relates FLOW President John Reid said that
the company was pleased with the result of the recent corporate
financing activities.  "Our employees are very excited to continue
with our investment in Trinidad, and customers will see this
investment realized in the form of new products and services that
we will introduce during 2010," the report quoted Mr. Reid as
saying.  "Flow, having built a strong financial foundation over
the first five years in Trinidad, will continue to solidify its
position as the leading cable television and broadband company in
this market," he added.

                   About Columbus International

Columbus is a Barbados-based holding company founded in 2004.  It
is a diversified Caribbean communications holding company whose
core operating business is 1) the development of an undersea fiber
optic cable network as well as the sale and lease of telecom
broadband capacity and IP services ("wholesale") to
telecommunications carriers, Internet Service Providers and large
corporations operating in the Caribbean, Latin America and North
America and 2) providing cable television services, high speed
internet access, digital phone and internet infrastructure
services ("retail") in Trinidad & Tobago, Jamaica and Grenada.
During the last 12 months ended in June 30, 2009, revenues and
adjusted EBITDA amounted to US$242 million and US$105 million,
respectively.

                           *     *     *

As reported in the Troubled Company Reporter - Latin America on
December 7, 2009, Moody's Investors Service assigned definitive
ratings to Columbus International Inc., including a B2 Corporate
Family Rating and a B2 rating on Columbus' 11.5% US$450 million
guaranteed senior secured notes due 2014, issued on November 20,
2009.  Moody's original ratings for Columbus were provisional
since they were subject to the successful issuance of the notes.
Proceeds from the notes will be used to refinance existing debt
and for general corporate purposes.


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


CITGO PETROLEUM: Restarts Crude Unit at Lemont Refinery
-------------------------------------------------------
Citgo Petroleum Corp. has started a crude unit at its Lemont
refinery that was shut in late February for repairs, The Herald
Times reports, citing an unnamed source.

According to the report, the source said that repairs were
completed and the unit has returned to service.  The report,
citing a data compiled by Bloomberg News, relates that the plant
has a capacity of 167,000 barrels a day.

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

                           *     *     *

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

Fitch affirmed these ratings for CITGO:

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


PETROLEOS DE VENEZUELA: In Talks with Petrobras Over Lima Venture
-----------------------------------------------------------------
Petroleo Brasileiro S.A is still in discussions with Petroleos de
Venezuela about finalizing the details for their Brazilian joint
refining venture, Angel Gonzalez at Dow Jones Newswires reports,
citing Petrobras Chief Executive Jose Sergio Gabrielli.  "We have
all documents ready," the report quoted Mr. Gabrielli as saying.
"Venezuela is preparing to come in and pay their part of the
expense," he added.

According to the report, the 230,000 barrels-a-day Abreu E Lima
refinery, scheduled to be located in the state of Recife in
Brazil, is expected to have a price tag of around US$12 billion.

PDVSA, the report notes, is slated to pay for 40% of the
investment, while Petrobras would supply the remaining 60%.

                            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 of March 8, 2010, the company continues to carry Moody's "Ba1"
LC Curr Issuer rating.  The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.


PETROLEOS DE VENEZUELA: Unit Starts Chicken Meat Production
-----------------------------------------------------------
Through strategic alliances with both public and private
companies, PDVSA Agricola subsidiary of Petroleos de Venezuela SA
started the cycle of chicken meat production planned for 2010 in
the East region of the country.

During the first period of this year, the agricultural subsidiary
will provide the consumer with a total approximate of 230 tons of
poultry meat, which will be distributed by the networks in the
Venezuelan Food Production and Distribution at a regulated price
by the Official Gazette and soon in the Hypermarkets Bicentenario.

For the second phase of production process, that figure will
increase approximately to 456 tons, achieving this way the planned
goal of participating directly in the production and marketing of
chicken, with the purpose of contributing to the food security of
the Venezuelan population through the "Pollo El Soberano".

                            More Chicken

In addition to this program, the subsidiary of Petroleos de
Venezuela, with the participation of producers already selected,
will add to the market about 760 tons of poultry meat for the
Venezuelans consumption, watching over the projection provided by
Agricultural PDVSA in the poultry sector by 2010 for a more
reliable and efficient service to the Venezuelan people.

                            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 of March 8, 2010, the company continues to carry Moody's "Ba1"
LC Curr Issuer rating.  The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.


SANTA CLARA MILL: Venezuela Seizes Control of Operations
--------------------------------------------------------
Fabiola Sanchez at Associated Press reports that Venezuela's
government seized control of Santa Elena and Santa Clara mills and
threatened to expropriate them.  The government accused managers
of hoarding a basic good and violating the labor rights of
employees.  The report relates Commerce Minister Richard Canan
said authorities were taking over management of the mills in the
central state of Portuguesa for 90 days "to guarantee the
operations of the mills, so our people don't go without sugar."

According to the report, Mr. Canan said inspectors found several
tons of sugar in warehouses that "should be in distribution
centers."  The report relates Mr. Canan suggested that the mills
failed to ship the sugar on schedule -- a violation of laws aimed
at ensuring timely distribution of basic foods as a means
protecting consumers.

Government inspectors, the report notes, claim some businesses
hoard sugar and other foods subject to government-price controls,
waiting for President Hugo Chavez's administration to raise prices
before selling the goods.

Mr. Canan, the report relates, said that officials also found
"irregularities in the payment of the workers" at the two mills as
well as several violations of safety and environmental protection
regulations.

An unnamed executive at the company operating the mills told the
Associated Press that the government's allegations were not true.
The source told The AP in a telephone interview that the sugar in
the warehouses was processed only five days before the inspection.


SANTA ELENA MILL: Venezuela Takes Control of Operations
-------------------------------------------------------
Fabiola Sanchez at Associated Press reports that Venezuela's
government seized control of Santa Elena and Santa Clara mills and
threatened to expropriate them.  The government accused managers
of hoarding a basic good and violating the labor rights of
employees.  The report relates Commerce Minister Richard Canan
said authorities were taking over management of the mills in the
central state of Portuguesa for 90 days "to guarantee the
operations of the mills, so our people don't go without sugar."

According to the report, Mr. Canan said inspectors found several
tons of sugar in warehouses that "should be in distribution
centers."  The report relates Mr. Canan suggested that the mills
failed to ship the sugar on schedule -- a violation of laws aimed
at ensuring timely distribution of basic foods as a means
protecting consumers.

Government inspectors, the report notes, claim some businesses
hoard sugar and other foods subject to government-price controls,
waiting for President Hugo Chavez's administration to raise prices
before selling the goods.

Mr. Canan, the report relates, said that officials also found
"irregularities in the payment of the workers" at the two mills as
well as several violations of safety and environmental protection
regulations.

An unnamed executive at the company operating the mills told the
Associated Press that the government's allegations were not true.
The source told The AP in a telephone interview that the sugar in
the warehouses was processed only five days before the inspection.


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


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

April 20-22, 2010
TURNAROUND MANAGEMENT ASSOCIATION
    Sheraton New York Hotel and Towers, New York, NY
       Contact: http://www.turnaround.org/

Apr. 29-May 2, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Annual Spring Meeting
       Gaylord National Resort & Convention Center, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

June 17-20, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Central States Bankruptcy Workshop
       Grand Traverse Resort and Spa, Traverse City, Michigan
          Contact: 1-703-739-0800; http://www.abiworld.org/

July 7-10, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Northeast Bankruptcy Conference
       Ocean Edge Resort, Brewster, Massachusetts
          Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Southeast Bankruptcy Conference
       The Ritz-Carlton Amelia Island, Amelia, Fla.
          Contact: http://www.abiworld.org/

Aug. 5-7, 2010
AMERICAN BANKRUPTCY INSTITUTE
    Mid-Atlantic Bankruptcy Workshop
       Hyatt Regency Chesapeake Bay, Cambridge, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 6-8, 2010
TURNAROUND MANAGEMENT ASSOCIATION
    TMA Annual Convention
       JW Marriott Grande Lakes, Orlando, Florida
          Contact: http://www.turnaround.org/

Dec. 2-4, 2010
AMERICAN BANKRUPTCY INSTITUTE
    22nd Annual Winter Leadership Conference
       Camelback Inn, Scottsdale, Arizona
          Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
AMERICAN BANKRUPTCY INSTITUTE
    Annual Spring Meeting
       Gaylord National Resort & Convention Center, Maryland
          Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
AMERICAN BANKRUPTCY INSTITUTE
    Central States Bankruptcy Workshop
       Grand Traverse Resort and Spa
          Traverse City, Michigan
             Contact: http://www.abiworld.org/

October 25-27, 2011
TURNAROUND MANAGEMENT ASSOCIATION
    Hilton San Diego Bayfront, San Diego, CA
       Contact: http://www.turnaround.org/

Dec. 1-3, 2011
AMERICAN BANKRUPTCY INSTITUTE
    23rd Annual Winter Leadership Conference
       La Quinta Resort & Spa, La Quinta, California
          Contact: 1-703-739-0800; http://www.abiworld.org/


                            ***********

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 2010.  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 * * *