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

              Tuesday, April 6, 2010, Vol. 11, No. 066

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Owner's Knighthood Officially Revoked
STANFORD INT'L: Panamanian Asset Sale Yields US$14.2 Million
STANFORD INT'L: Owner Sued by American Express Over Card Debt


B R A Z I L

GOL LINHAS: To Invest US$312.5 Million in Operations This Year
MARFRIG ALIMENTOS: To Focus on Brazil After Returning to Profit
TAM SA: Sees Domestic Demand to Increase as Much as 18% This Year


C A Y M A N  I S L A N D S

ALERIAN CEP: Creditors' Proofs of Debt Due on April 29
ALERIAN OPPORTUNITY: Creditors' Proofs of Debt Due on April 29
ALTERNATIVE FUNDS: Creditors' Proofs of Debt Due on April 29
ANALYTIC JAPANESE: Creditors' Proofs of Debt Due on April 29
ANALYTIC JAPANESE: Creditors' Proofs of Debt Due on April 29

ANALYTIC US: Creditors' Proofs of Debt Due on April 29
ANALYTIC US: Creditors' Proofs of Debt Due on April 29
ANALYTIC US: Creditors' Proofs of Debt Due on April 29
CLINTON QUANTITATIVE: Creditors' Proofs of Debt Due on April 29
CLINTON QUANTITATIVE: Creditors' Proofs of Debt Due on April 29

DFG HEDGE: Court Enters Wind-Up Order
DFG MASTER: Court Enters Wind-Up Order
DINVEST CONCENTRATED: Creditors' Proofs of Debt Due on April 29
DINVEST CONCENTRATED: Creditors' Proofs of Debt Due on April 29
DM INVESTMENT: Placed Under Voluntary Wind-Up

EMINENCE LONG: Creditors' Proofs of Debt Due on April 29
FINCHLEY INVESTMENTS: Creditors' Proofs of Debt Due on April 29
FIRST REINSURANCE: Creditors' Proofs of Debt Due on April 19
FRAMLINGTON ABSOLUTE: Creditors' Proofs of Debt Due on April 29
GUNNISON INVESTMENTS: Creditors' Proofs of Debt Due on April 29

HYUNDAI CAPITAL: Creditors' Proofs of Debt Due on April 29
LR GLOBAL: Grand Court Enters Wind-Up Order
MAINSTAY FUND: Creditors' Proofs of Debt Due on April 29
MARATHON NIGERIA: Creditors' Proofs of Debt Due on April 29
MARATHON OFFSHORE: Creditors' Proofs of Debt Due on April 29

MASTOPLAR TRADING: Creditors' Proofs of Debt Due on May 3
RANGER LONG: Creditors' Proofs of Debt Due on April 29
SR AVANTI: Grand Court Enters Wind-Up Order
TADI AND YELA: Creditors' Proofs of Debt Due on April 30
TRENDSQUARE LTD: Creditors' Proofs of Debt Due on April 29


C O L O M B I A

* COLOMBIA: Economy Not Severely Affected by Crisis, IMF Says


J A M A I C A

AIR JAMAICA: Ops. Maybe Shutdown if U.S. DOT Won't Honor Request
JAMAICA PUBLIC SERVICE: Senior Executive Post Made Redundant
WINDALCO: Ends Operations in Jamaica, Lays Off 762 Workers
* JAMAICA: Sugar Transformation Project Gets JM$857 Million


M E X I C O

CEMEX SAB: Commences Exchange Offers for Perpetual Securities
SATMEX SA: Must Replace Satellite in 31 Months


P E R U

CONSTITUTION MINING: James Stafford Raises Going Concern Doubt


P U E R T O  R I C O

EFRAIN BETANCOURT: Case Summary & 3 Largest Unsecured Creditors


V E N E Z U E L A

CRYSTALLEX INT'L: Dec. 31 Balance Sheet Upside-Down by US$44.7MM
PETROLEOS DE VENEZUELA: In Talks With Rosneft


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                         - - - - -


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


STANFORD INT'L: Owner's Knighthood Officially Revoked
-----------------------------------------------------
Antigua and Barbuda has officially revoked Robert Allen Stanford's
knighthood in the country, CaribWorldNews.  The report relates
that the island's Governor General, Dame Louise Lake-Tack,
officially signed the order revoking the knighthood.  The notice
of the revocation would be forwarded to Mr. Stanford.

According to the report, Mr. Stanford was knighted on the
recommendation of the main opposition Antigua Labor Party in 2006.
The report notes that moves to strip Mr. Stanford of the
knighthood began last year, months after he was charged with
perpetrating a massive Ponzi scheme.

The report notes that the knighthood revocation order comes as
Antigua and Barbuda's Baldwin Spencer government faces a civil
lawsuit from Stanford investors and just days after judge ruled
that Mr. Spencer and two other lawmakers were improperly elected
last year.

              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).


STANFORD INT'L: Panamanian Asset Sale Yields US$14.2 Million
------------------------------------------------------------
Andrew M. Harris at Bloomberg News reports that the U.S.
Securities and Exchange Commission obtained more than US$14.2
million for Stanford Financial Group investors in a Panamanian
asset sale.  The report relates the commission said that the money
"has been secured for the benefit of the worldwide victims of
Robert Allen Stanford's alleged multibillion dollar fraud scheme."

According to the report, the U.S. SEC said that Mr. Stanford was
the sole owner of an entity that owned Stanford Bank (Panama) SA,
a Panama City-based bank and brokerage business, and another firm
called Stanford Casa de Valores SA.  The report relates that after
U.S. authorities obtained the asset-freeze order, Panamanian
banking and securities regulators assumed control of Stanford
assets in that country.

Bloomberg News, citing court paper, notes that Mr. Stanford
opposed the sale of his Panamanian assets, arguing they were being
sold for less than they were worth.  U.S. District Judge David
Godbey in Dallas approved the transaction in a Feb. 10 order.

                  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).


STANFORD INT'L: Owner Sued by American Express Over Card Debt
-------------------------------------------------------------
Laurel Brubaker Calkins at Bloomberg News reports that Robert
Allen Stanford was sued by a unit of American Express Co. for
US$115,712.79 in back credit card debt.  The report relates
American Express Centurion Bank said its lawsuit could be served
on Stanford at the federal detention center in downtown Houston.

"Defendant benefited from all of the charges made to the Centurion
Card account, has acknowledged receipt of those benefits, and has
failed to pay for same," the report quoted Donald D. DeGrasse,
American Express's lawyer, as saying.

Mr. DeGrasse told the news agency in a telephone interview that he
also plans to file American Express's claim with the receivership,
which is marshalling Stanford's assets to repay investors and
creditors.  The report notes that American Express's suit also
asks that Mr. Stanford pay US$34,000 to cover the bank's
anticipated legal fees in the bad debt matter.

The case is American Express Centurion Bank v. Stanford, 2010-
20554, 234 Judicial District, District Court of Harris County,
Texas (Houston).

                  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).


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


GOL LINHAS: To Invest US$312.5 Million in Operations This Year
--------------------------------------------------------------
GOL Intelligent Airlines aka GOL Linhas Areas Inteligentes S.A.
plans to invest BRL557.5 million (US$312.5 million) in its
operations in 2010, Rogerio Jelmayer at Dow Jones Newswires
reports, citing a company statement.

According to the report, the company said that of the total,
BRL242.7 million will be used to acquire new airplanes from Boeing
Co. (BA).  The company didn't state the amount invested in 2009.

Based in Sao Paulo, Brazil, GOL Intelligent Airlines aka GOL
Linhas Areas Inteligentes S.A. -- http://www.voegol.com.br/--
through its subsidiary, GOL Transportes Aereos S.A., provides
airline services in Brazil, Argentina, Bolivia, Uruguay, and
Paraguay.  The company's services include passenger, cargo, and
charter services.  As of March 20, 2006, Gol Linhas provided 440
daily flights to 49 destinations and operated a fleet of 45 Boeing
737 aircraft.  The company was founded in 2001.

                           *     *     *

As of March 8, 2010, the company continues to carry Fitch Ratings
"B" long-term issuer default ratings.  The company also continues
to carry Moody's B1 LT Corp Family rating.


MARFRIG ALIMENTOS: To Focus on Brazil After Returning to Profit
---------------------------------------------------------------
Lucia Kassai at Bloomberg News reports that Marfrig Alimentos SA
said it plans to focus more on growing demand in the Brazilian
market to bolster future sales after it returned to a profit last
quarter.

According to the report, Chief Executive Officer Marcos Molina
said that Marfrig Alimento's US$706.2 million acquisition of the
Seara poultry and pork businesses from Cargill Inc. will help fuel
local sales.  The report relates Mr. Molina said that the company
will also seek to expand the Seara brand abroad.

"We are looking for a more balanced sales profile, like 50-50
between domestic demand and exports," the report quoted Mr. Molina
as saying.  "We officially took over Seara on January 4 and have
plans to boost sales of its value-added products," he added.

As reported in the Troubled Company Reporter-Latin America on
April 5, 2010, Marfrig Alimentos SA reported net income in fiscal
year 2009 of R$679.1 million, reversing the net loss of R$35.5
million recorded in 2008.  Gross revenue in the year was R$10.28
billion, up 52% from 2008.  In 2009, Marfrig sold 2.2 million tons
of food in more than 100 countries, for growth in sales volume of
47.6% on the prior year.  A portion of this advance was due to the
full consolidation of the results of companies acquired in the
second half of 2008, the increase in installed capacity
utilization, the leasing of plants and the startup in Brazil of
lamb and turkey operations.

                     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


TAM SA: Sees Domestic Demand to Increase as Much as 18% This Year
-----------------------------------------------------------------
TAM S.A. said that domestic demand will increase as much as 18%
this year, Paulo Winterstein at Bloomberg News reports.  "There's
the expectation that we'll see expressive increases in steel
prices, and oil also has a very strong outlook," the report quoted
Mauricio Pedrosa, who helps manage US$100 million at Queluz
Participacoes in Sao Paulo, as saying.

According to the report, Tam SA jumped 7% yesterday, April 5,
2010.  "One of the key factors in the gain was the outlook that
they'll make better use of their fleet," the report quoted Brian
Moretti, analyst at Planner Corretora in Sao Paulo, as saying.
"And with the industry usually growing at two or three times GDP,
that's very favorable" for the company, he added.

Economists expect Brazil's economy to expand 5.51% this year,
according to a central bank survey published March 29, the report
adds.

                          About TAM SA

Based in Sao Paulo, Brazil, TAM S.A. -- http://www.tam.com.br/--
has business agreements with the regional airlines Pantanal,
Passaredo, Total and Trip.  As of Jan. 14, the daily flight on the
Corumba -- Campo Grande route in Mato Grosso do Sul began to be
operated by a partnership with Trip.  With the expansion of the
agreement with NHT, TAM will now be serving 82 destinations in
Brazil, 45 of which with its own flights.  In addition, the
company is strengthening its presence in Rio Grande do Sul and
Santa Catarina.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 20, 2009, Fitch Ratings has assigned a 'BB-' rating to TAM
S.A.'s US$300 million proposed senior guaranteed notes due 2019.
These notes will be issued through TAM's subsidiary, TAM Capital 2
Inc and will be unconditionally guaranteed by TAM and TAM Linhas
Aereas S.A.  Proceeds from the proposed issuance will be used to
enhance the company's cash balance and for general corporate
purpose.


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


ALERIAN CEP: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
The creditors of Alerian CEP, Ltd. are required to file their
proofs of debt by April 29, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on March 12, 2010.

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


ALERIAN OPPORTUNITY: Creditors' Proofs of Debt Due on April 29
--------------------------------------------------------------
The creditors of Alerian Opportunity Partners VIII Limited are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on February 25, 2010.

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


ALTERNATIVE FUNDS: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------------
The creditors of Alternative Funds SPC are required to file their
proofs of debt by April 29, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on February 23,
2010.

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


ANALYTIC JAPANESE: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------------
The creditors of Analytic Japanese Equity Market Neutral Offshore
Master, Ltd. are required to file their proofs of debt by
April 29, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on March 15, 2010.

The company's liquidator is:

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


ANALYTIC JAPANESE: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------------
The creditors of Analytic Japanese Equity Market Neutral Offshore,
Ltd. are required to file their proofs of debt by April 29, 2010,
to be included in the company's dividend distribution.

The company commenced liquidation proceedings on March 15, 2010.

The company's liquidator is:

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


ANALYTIC US: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
The creditors of Analytic US Market Neutral Offshore M, Ltd. are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 9, 2010.

The company's liquidator is:

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


ANALYTIC US: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
The creditors of Analytic US Market Neutral Offshore II, Ltd. are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 9, 2010.

The company's liquidator is:

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


ANALYTIC US: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
The creditors of Analytic US Market Neutral Offshore II Master,
Ltd. are required to file their proofs of debt by April 29, 2010,
to be included in the company's dividend distribution.

The company commenced liquidation proceedings on March 9, 2010.

The company's liquidator is:

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


CLINTON QUANTITATIVE: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Clinton Quantitative Equity Strategies Fund, Ltd
are required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 15, 2010.

The company's liquidator is:

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


CLINTON QUANTITATIVE: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Clinton Quantitative Equity Strategies Master
Fund, Ltd are required to file their proofs of debt by April 29,
2010, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on March 15, 2010.

The company's liquidator is:

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


DFG HEDGE: Court Enters Wind-Up Order
-------------------------------------
On March 5, 2010, the Grand Court of Cayman Islands entered an
order to have DFG Hedge Fund Limited's operations wound up.

The company's liquidators are:

         Geoffrey Varga
         Mark Longbottom
         c/o Steven Staatz
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004
         Cayman Islands
         Telephone: (345) 623 9909
         Facsimile: (345) 623 0007


DFG MASTER: Court Enters Wind-Up Order
--------------------------------------
On March 5, 2010, the Grand Court of Cayman Islands entered an
order to have DFG Master Hedge Fund Limited's operations wound up.

The company's liquidators are:

         Geoffrey Varga
         Mark Longbottom
         c/o Steven Staatz
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004
         Cayman Islands
         Telephone: (345) 623 9909
         Facsimile: (345) 623 0007


DINVEST CONCENTRATED: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Dinvest Concentrated Opportunities III Exquity
Ltd. are required to file their proofs of debt by April 29, 2010,
to be included in the company's dividend distribution.

The company commenced liquidation proceedings on February 23,
2010.

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


DINVEST CONCENTRATED: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Dinvest Concentrated Opportunities Ltd. are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on February 23,
2010.

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


DM INVESTMENT: Placed Under Voluntary Wind-Up
---------------------------------------------
At an extraordinary general meeting held on March 9, 2010, a
resolution was passed that voluntarily winds up the operations of
DM Investment Funds SPC.

The company's liquidator is:

         Mark Longbottom
         c/o Helen Ennis
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004
         Cayman Islands
         Telephone: (345) 623 9902
         Facsimile: (345) 943 9900


EMINENCE LONG: Creditors' Proofs of Debt Due on April 29
--------------------------------------------------------
The creditors of Eminence Long Alpha, Ltd. are required to file
their proofs of debt by April 29, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on February 22, 2010.

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


FINCHLEY INVESTMENTS: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Finchley Investments Limited are required to file
their proofs of debt by April 29, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on March 8, 2010.

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


FIRST REINSURANCE: Creditors' Proofs of Debt Due on April 19
------------------------------------------------------------
The creditors of First Reinsurance Company of Texas, Ltd. are
required to file their proofs of debt by April 19, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 3, 2010.

The company's liquidator is:

         Myron Fuller Steves Jr.
         c/o Global Captive Management Ltd.
         Governor's Square, 2nd Floor, Building 3
         23 Lime Tree Bay Avenue
         PO Box 1363, Grand Cayman KY1-1108
         Cayman Islands
         Telephone: (345) 949 7966


FRAMLINGTON ABSOLUTE: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Framlington Absolute Return UK Fund Ltd are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on March 11, 2010.

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


GUNNISON INVESTMENTS: Creditors' Proofs of Debt Due on April 29
---------------------------------------------------------------
The creditors of Gunnison Investments Ltd. are required to file
their proofs of debt by April 29, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on March 10, 2010.

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


HYUNDAI CAPITAL: Creditors' Proofs of Debt Due on April 29
----------------------------------------------------------
The creditors of Hyundai Capital Auto Funding III Limited are
required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on March 15, 2010.

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


LR GLOBAL: Grand Court Enters Wind-Up Order
-------------------------------------------
On February 28, 2010, the Grand Court of Cayman Islands entered an
order that wind up the operations of LR Global Charter, Ltd.

The company's liquidators are:

         Geoffrey Varga
         Nicolas Matthews
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004


MAINSTAY FUND: Creditors' Proofs of Debt Due on April 29
--------------------------------------------------------
The creditors of Mainstay Fund, Ltd. are required to file their
proofs of debt by April 29, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on March 11, 2010.

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


MARATHON NIGERIA: Creditors' Proofs of Debt Due on April 29
-----------------------------------------------------------
The creditors of Marathon Nigeria Holding are required to file
their proofs of debt by April 29, 2010, to be included in the
company's dividend distribution.

The company's liquidator is:

         Yvonne R. Kunetka
         Marathon Oil Company
         5555 San Felipe Street
         Houston, Texas 77056-2799
         United States of America
         Telephone: 713-296-2517
         Facsimile: 713-513-4219
         e-mail: YRKunetka@Marathonoil.com


MARATHON OFFSHORE: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------------
The creditors of Marathon Offshore Holding Limited are required to
file their proofs of debt by April 29, 2010, to be included in the
company's dividend distribution.

The company's liquidator is:

         Yvonne R. Kunetka
         Marathon Oil Company
         5555 San Felipe Street
         Houston, Texas 77056-2799
         United States of America
         Telephone: 713-296-2517
         Facsimile: 713-513-4219
         e-mail: YRKunetka@Marathonoil.com


MASTOPLAR TRADING: Creditors' Proofs of Debt Due on May 3
---------------------------------------------------------
The creditors of Mastoplar Trading Ltd. are required to file their
proofs of debt by May 3, 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:

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


RANGER LONG: Creditors' Proofs of Debt Due on April 29
------------------------------------------------------
The creditors of Ranger Long Short Opportunity Fund (Cayman), Ltd.
are required to file their proofs of debt by April 29, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on March 4, 2010.

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


SR AVANTI: Grand Court Enters Wind-Up Order
-------------------------------------------
On February 28, 2010, the Grand Court of Cayman Islands entered an
order that winds up the operations of SR Avanti Charter Ltd.

The company's liquidators are:

         Geoffrey Varga
         Nicolas Matthews
         Kinetic Partners (Cayman) Limited
         The Harbour Centre, 42 North Church Street
         P.O. Box 10387, Grand Cayman KY1-1004


TADI AND YELA: Creditors' Proofs of Debt Due on April 30
--------------------------------------------------------
The creditors of Tadi and Yela Partners Ltd. are required to file
their proofs of debt by April 30, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on February 26, 2010.

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


TRENDSQUARE LTD: Creditors' Proofs of Debt Due on April 29
----------------------------------------------------------
The creditors of Trendsquare Ltd. are required to file their
proofs of debt by April 29, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on February 23,
2010.

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


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


* COLOMBIA: Economy Not Severely Affected by Crisis, IMF Says
-------------------------------------------------------------
The Executive Board of the International Monetary Fund concluded
the Article IV consultation with Colombia.

                          Background

With strong policy and institutional frameworks, the global crisis
did not have too severe effects on Colombia's economy.  The
economy had begun to slow down in early 2008 as policies had been
tightened to address overheating, but the global crisis caused
private investment to collapse in the last quarter of 2008.
Domestic demand began recovering in the second half of 2009, led
by public investment and consumption.  For the year as a whole,
real gross domestic product growth was 0.4%.  With near zero food
price inflation and a negative output gap, end-year inflation fell
to 2% from 7.7% at end-2008.  The exchange rate served as the main
shock absorber, and net international reserves (excluding the
special drawing rights (SDR) allocation) remained broadly constant
at the end-2008 level of US$24 billion.  The financial system did
not experience major strains from the global crisis as capital
adequacy remained strong and non-performing loans increased only
slightly, backed by high provisions.  The corporate sector's
strong balance sheets and the moderate levels of household debt
also helped avoid financial distress.

The authorities were able to adopt countercyclical monetary and
fiscal policy measures.  Monetary policy responded swiftly, with a
650 basis point reduction in the policy rate (to 31/2%).  Fiscal
policy also contributed to support demand, imparting a fiscal
impulse of about 1% of GDP in 2009 as measured by the change in
the combined public sector overall structural balance.  With
uninterrupted access to capital markets, the government was able
to preemptively increase its foreign borrowing (about 2% of GDP).
Furthermore, several measures were taken to strengthen financial
sector resilience, including an agreement between banks and the
superintendent to retain a portion of 2008 profits.

The outlook for 2010 is generally positive.  Real GDP growth in
2010 is projected at about 21/4%, reflecting the upturn in the
world economy and the impact of the expansionary policies of 2009
(though dampened by lower exports to Venezuela).  Inflation is
likely to remain within the central bank target range of 2-4%, as
the effects of El Nio on food inflation are expected to be short
lived and likely to be offset by the output gap and peso
appreciation.  The external current account deficit is expected to
widen in 2010 to 3.1% of GDP on account of lower exports to
Venezuela and a pickup in oil investment-related imports.  The
bulk of this deficit would be financed by foreign direct
investment, with other private flows also expected to recover.

                   Executive Board Assessment

Executive Directors commended the Colombian authorities for
maintaining strong policy and institutional frameworks during the
global crisis.  This, together with an early request for a
flexible credit line from the Fund, contributed to preserving
external confidence and limiting the impact of the crisis.
Directors considered that, with improved economic fundamentals and
a healthy banking system, Colombia is well-placed to confront the
challenges posed by the still uncertain global outlook.

Directors considered that monetary and fiscal policies should
remain broadly supportive until there is clear evidence of
sustained recovery.  Consequently, close monitoring of forward
looking indicators of activity and inflation will be essential to
guide the size and timing of the withdrawal of support.  Directors
emphasized that the Colombian authorities should prevent
anticipated increases in food prices from affecting long-term
inflation expectations.

Directors noted that the deterioration of the fiscal position was
mainly driven by weak domestic demand conditions.  In the medium
term, as economic activity recovers, oil-related revenues
increase, and government spending is kept in check, the fiscal
deficit is expected to fall and public debt to resume a downward
trend.  Directors welcomed the authorities' intention to establish
a fiscal rule, which would provide stronger assurances that the
recent increase in public debt will be undone.  A number of
Directors encouraged the authorities to broaden the coverage of
the fiscal rule. Directors welcomed the authorities' commitment to
contain health costs, and their intention to take compensatory
measures if fiscal risks materialize.  They also encouraged the
authorities to further develop a strategy to minimize medium-term
fiscal risks, including those resulting from investment tax
incentives and special tax regimes, and pension spending.

Directors agreed that the flexible exchange rate policy has helped
protect the external position in the face of adverse shocks. Some
Directors considered that other temporary instruments could
complement the flexible exchange rate regime and rule-based
intervention in the foreign exchange market as a policy response
if the risk of a surge in capital inflows were to materialize.
Some Directors saw merit in further strengthening reserve
coverage, while others stressed that the authorities pay close
attention to the costs and externalities of reserve accumulation.
Directors encouraged the authorities to remove the exchange
restriction arising from the special regime for the hydrocarbons
sector.

Directors noted the soundness of the financial system, and
welcomed improvements in financial regulation and reforms to
develop capital markets.  The new liquidity management system, the
broader coverage of deposit insurance, and the enhanced tools to
facilitate bank resolution, further strengthen crisis
preparedness.  Directors commended the authorities for
improvements in the over-the-counter market infrastructure, new
regulations on collective investment vehicles, and the broader
investment strategy options for pension funds, which will
contribute to financial deepening.


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


AIR JAMAICA: Ops. Maybe Shutdown if U.S. DOT Won't Honor Request
----------------------------------------------------------------
Ingrid Brown at Jamaica Observer reports that Air Jamaica Limited
could be forced to shut down prematurely, leaving a major gap in
air seats to the island, if the U.S. Department of Transportation
turns down an urgent request the national airline is making.

According to the report, on March 24, 2010, the airline wrote to
the DOT asking for permission to continue to operate on the terms
of its existing authority during the six-to-12-month transition
period expected under the divestment agreement with Caribbean
Airlines Limited, which is to take effect on April 12, 2010.  The
report relates failing that permission, Air Jamaica is asking the
Americans for an urgent waiver of the DOT's standard ownership and
control policy, in order for it to maintain services for the one-
year period under its Transitional Services Agreement with
Caribbean Airlines.  "Air Jamaica respectfully requests the
Department's expedited consideration of the matters raised in this
letter, with a definitive DOT determination by no later than April
5, 2010," the airline's Washington-based counsel, George Carneal,
wrote in a letter obtained by the news agency.

The report notes that it was not immediately clear how the U.S.
would react, given the stand-off between Kingston and Washington
over the stalled extradition of Tivoli Gardens strongman,
Christopher 'Dudus' Coke.

The Jamaican government, the report notes, said that it would not
bow to U.S. demands for Mr. Coke whom they want to face trial on
gun and drug-trafficking charges.  The report relates that Jamaica
said the U.S. evidence against Mr. Coke was obtained in breach of
his constitutional rights.

The Observer notes Chief Executive Officer of Air Jamaica Bruce
Nobles said that as part of the transit agreement, Air Jamaica
would continue to operate under its existing authority under the
contractual agreement with Caribbean Airlines and "we are asking
the Department of Transportation for their concurrence with that
strategy."

However, the report says, Mr. Carneal noted that prompt
implementation of the required interim structure was essential to
ensure Air Jamaica's continued commercial operations during the
transition period, until such time as CAL was able to take over
key Air Jamaica routes.

                       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.


JAMAICA PUBLIC SERVICE: Senior Executive Post Made Redundant
------------------------------------------------------------
A senior executive at the Jamaica Public Service Company has
become the first local casualty of a major restructuring exercise
being carried out by the entity's majority shareholder,
RadioJamaica reports.  The report relates Gary Osbourne, Chief
Financial Officer for JPSCO, was advised to leave the company,
effective March 31, 2010.

According to the report, Marubeni TAQA Caribbean, which has a
controlling interest in the JPSCO, is currently in the process of
restructuring its operations as part of a plan to improve
efficiency.  The report relates that following a detailed review
of its operations, MTC has decided to significantly reduce its
staff complement at its head office in Atlanta.

The exercise, the report notes, extends to expatriates assigned to
its Caribbean business units.

Headquartered in Kingston, Jamaica -- https://www.jpsco.com/ --
Jamaica Public Service Company Limited is an integrated electric
utility company and the sole distributor of electricity in
Jamaica.  The company is engaged in the generation, transmission
and distribution of electricity, and also purchases power from
five Independent Power Producers.  Japanese-based Marubeni
Corporation owns 80 percent of the company.  The Government of
Jamaica and a small group of minority shareholders own the
remaining shares.  JPS currently has roughly 582,000 customers who
are served by a workforce of over 1,600 employees.  The Company
owns and operates 28 generating plants, 54 substations, and
roughly 14,000 kilometers of distribution and transmission lines.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 12, 2010, RadioJamaica said that the multi-billion dollar
show down between the Jamaica Public Service and the three unions
-- BITU, NWU, and UCASE -- representing workers at the company has
entered the penultimate stage before the Industrial Disputes
Tribunal.  The report related that the IDT heard testimony from
the Chairman of JPSCO, Tommy Fukuda who was called as the last
witness.  According to the report, Mr. Fukuda maintained that
JPSCO has paid the US$2.3 billion it owed the workers following
the 2001 job reclassification exercise.  However, the report
related, the three unions argued that the company still owed the
workers an additional JM$500 to 600 million dollars in
retroactive, overtime and redundancy payments.


WINDALCO: Ends Operations in Jamaica, Lays Off 762 Workers
-----------------------------------------------------------
West Indies Alumina Company Limited laid off 762 workers and
ceased all bauxite projects, The Associated Press reports.  The
report relates spokeswoman Kayon Wallace said that Windalco said
it will retain 257 contract workers only to continue agricultural
and land restoration projects.

As reported in the Troubled Company Reporter-Latin America on
March 8, 2010, Jamaica Gleaner said that in 2009, the company
suspended production at its Kirkvine, Manchester, and Ewarton, St
Catherine, refineries because of reduced demand for aluminium on
the world market.  The company is 93% owned by Russian entity, UC
Rusal.  The Gleaner disclosed that Kayon Wallace, Windalco's
senior communications officer, said that, as of April 1, a 'take-
care' organization comprising a small complement of contract
workers will be responsible for preserving the company's assets
and meeting legal and community obligations.  The report added
that Mr. Wallace said that the company will still be involved in
agricultural activities that formed part of its original mandate.

                          About WINDALCO

West Indies Alumina Company is situated on the island of Jamaica
in the Caribbean.  The company comprises two alumina refineries
(Ewarton Works and Kirkvine Works), a shipping port (Port
Esquivel) and also bauxite mines in Schwallenburgh (Ewarton) and
Russell Place (Kirkvine) and farms in Manchester and St. Ann.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 8, 2010, Jamaica Gleaner said that West Indies Alumina
Company will end its bauxite production in Jamaica and make 762
permanent jobs redundant.  The report related that the redundancy
exercise comes a year after the company suspended production at
its Kirkvine, Manchester, and Ewarton, St Catherine, refineries
because of reduced demand for aluminium on the world market.  The
company is 93% owned by Russian entity, UC Rusal.


* JAMAICA: Sugar Transformation Project Gets JM$857 Million
-----------------------------------------------------------
The Jamaican government has set aside JM$857.6 million for the
Sugar Transformation Project in the 2010/11 Estimates of
Expenditure, which is now before the House of Representatives.

According to the report, as stated in the Estimates, the project
aims to develop a sustainable private sector- led sugar cane
industry by 2015; strengthen the economic diversification, social
resilience and environmental sustainability of sugar dependent
areas; and maintain progress towards macro-economic goals.

The report notes that some achievements up to February 2010
included:

   -- a fully staffed and operational Sugar Transformation Unit;
   -- redundancy payments made to approximately 3,600 displaced
      Sugar Company of Jamaica employees;
   -- two of five government-owned sugar estates divested;
   -- over 300 vulnerable Sugar Company of Jamaica employees
      receive grant assistance under the Sugar Area Development
      Program; and
   -- seven studies related to the implementation of the
      Government of Jamaica's Sugar Adaptation Strategy.

The report notes that anticipated targets for the 2010/11 fiscal
year include:

   * increased capitalization of the Cane Expansion Fund
     administered by the Sugar Industry Authority;
   * registration of 1,000 small farmers for the Sugar Area
     Development Program;
   * implementation (roll-out) of 2,500 in kind grants to
     vulnerable displaced Sugar Company of Jamaica employees; and
   * privatization of the remaining three Government of Jamaica
     sugar estates by the end of the 2010/11 financial year.

The project is being funded by the Government of Jamaica and the
European Union, the report adds.

                           *     *     *

According to the TCRLA on January 18, 2010, Fitch Ratings
downgraded Jamaica's long-term local currency rating
to 'C' from 'CCC'.  In addition, Fitch has affirmed Jamaica's
long-term and short-term foreign currency ratings at 'CCC' and 'C'
respectively, and affirmed the Country Ceiling at 'B-'.  Jamaica's
sovereign ratings Outlook remains Negative


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


CEMEX SAB: Commences Exchange Offers for Perpetual Securities
-------------------------------------------------------------
CEMEX, S.A.B. de C.V. disclosed the commencement of four separate
private offers to exchange CEMEX's currently outstanding Perpetual
Debentures for new senior secured notes to be denominated in
dollars and euros.  The issuer of the New Senior Secured Notes is
CEMEX Espana, S.A., acting through its Luxembourg branch.  The
Issuer is offering to exchange:

(1) any and all of the properly tendered and accepted outstanding
    U.S. dollar-denominated 6.196% Fixed-to-Floating Rate Callable
    Perpetual Debentures at US$713.75 per US$1,000 principal
    amount for New Dollar Senior Secured Notes,

(2) any and all of the properly tendered and accepted outstanding
    U.S. dollar-denominated 6.64% Fixed-to-Floating Rate Callable
    Perpetual Debentures at US$716.25 per US$1,000 principal
    amount for New Dollar Senior Secured Notes,

(3) any and all of the properly tendered and accepted outstanding
    U.S. dollar-denominated 6.722% Fixed-to-Floating Rate Callable
    Perpetual Debentures at US$723.75 per US$1,000 principal
    amount for New Dollar Senior Secured Notes, and

(4) any and all of the properly tendered and accepted outstanding
    Euro-denominated 6.277% Fixed-to-Floating Rate Callable
    Perpetual Debentures at EUR687.50 per EUR1,000 principal
    amount for either New Euro Senior Secured Notes or New Dollar
    Senior Secured Notes at the option of the exchanging holder.
    The exchange of Euro-denominated Perpetual Debentures for New
    Dollar Senior Secured Notes will be done at US$1.3468 per
    EUR1.00, the official exchange rate published by the European
    Central Bank on April 1, 2010.

The New Senior Secured Notes denominated in Dollars will mature in
10 years, pay a coupon of 9.25% annually, and be callable
commencing on the fifth anniversary of their initial issuance.
The New Senior Secured Notes denominated in Euros will mature in 7
years, pay a coupon of 8.875% annually, and be callable commencing
on the fourth anniversary of their original issuance.  The terms
of the Exchange Offers provide for the exchange of the Perpetual
Debentures at discounts from their principal amounts and thus, to
the extent Perpetual Debentures are exchanged for New Senior
Secured Notes, will reduce the aggregate principal amount of
CEMEX's outstanding financial obligations.

The New Senior Secured Notes in Dollars and Euros (i) will
represent senior obligations of the Issuer, (ii) will be
unconditionally guaranteed on a senior secured basis by the same
guarantors of the Dual Currency Notes: CEMEX, S.A.B. de C.V.,
CEMEX Mexico, S.A. de C.V., and New Sunward Holding B.V., and
(iii) since the New Senior Secured Notes are refinancing or
replacing existing financial indebtedness under the Financing
Agreement dated August 14, 2009, as amended, will share the same
Collateral that secures the obligations under the Dual Currency
Notes, the Financing Agreement and other senior secured debt
having the benefit of such Collateral.

The Exchange Offers will expire at 11:59 p.m., New York City time,
on April 30, 2010, unless extended or earlier terminated (which
CEMEX may do in its absolute discretion). Eligible holders of the
Perpetual Debentures who properly tender and do not validly
withdraw their Perpetual Debentures by 5:00 p.m., New York City
time, on April 16, 2010 will receive an additional fee of US$30
per US$1,000 of principal amount tendered for the U.S. dollar-
denominated Perpetual Debentures, and EUR30 per EUR1,000 of
principal amount tendered for the Euro-denominated Perpetual
Debentures.  Eligible holders of the Perpetual Debentures that
properly tender their Perpetual Debentures will not be able to
validly withdraw them after 5:00 p.m., New York City time, on
April 16, 2010.  Holders that tender after April 16, 2010 can
validly withdraw until April 30, 2010.

Holders of Perpetual Debentures who want to participate in the
Exchange Offers must consent to the Proposed Amendments to the
indentures governing the Perpetual Debentures and the underlying
Dual Currency Notes and the related amendments to certain
collateral documents.  Each Exchange Offer is subject to, among
other things, the condition that the consents of holders
representing at least a majority in aggregate principal amount of
the outstanding Perpetual Debentures of the applicable series have
been received and not revoked.  None of the Exchange Offers is
contingent on the completion of any other Exchange Offer. Each
Exchange Offer may be modified, extended or cancelled at any time.

The Exchange Offers are being made within the United States only
to "qualified institutional buyers" pursuant to Rule 144A under
the Securities Act of 1933, as amended, and to persons that are
not "U.S. persons," as such term is defined in Rule 902(k) of
Regulation S under the Securities Act and who would be
participating in any transaction in accordance with Regulation S.
The New Senior Secured Notes to be offered have not been
registered under the Securities Act and may not be offered or sold
in the United States absent an applicable exemption from
registration requirements.  The Exchange Offers are not being made
to any person located or resident in the Republic of Italy, the
Kingdom of Spain and the Grand Duchy of Luxembourg.

                         About Cemex SAB

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

                           *     *     *

As of March 8, 2010, the company continues to carry Standard and
Poor's "B" LT Issuer credit ratings.  The company also continues
to carry Fitch rating's "B" LT Issuer Default ratings and "B+"
Currency LT Debt ratings.  Cemex is seeking US$1.3 billion in
compensation for the seizure of its assets.  The government of
President Hugo Chavez has offered about a third of that.

The flare-up in relations between Venezuela and Cemex does not
bode well for the Monterrey-based cement maker's efforts to win
back money it badly needs to pay off debt, analysts say.

Cemex hopes to use compensation from Venezuela to reduce its US$15
billion debt load as it struggles with slumping U.S. and European
cement volumes due to the global recession and a collapse in
construction activity worldwide.  Cemex took on big debts to
finance its acquisition of Australia's Rinker in 2007, just before
the U.S. housing crisis broke.


SATMEX SA: Must Replace Satellite in 31 Months
----------------------------------------------
Satelites Mexicanos, S.A. de C.V., said it not only has to
negotiate a restructuring plan with shareholders and creditors but
also replace its damaged Satmex 5 satellite within the next 31
months, Latin American Herald Tribune reports.  The report relates
that the company said that it "will continue exploring new
strategic alternatives and restructuring options and remains
focused on its long-term viability."

"Our goals are to replace Satmex 5 with Satmex 8 as soon as
possible and ensure the company obtains the financing to launch
and operate Satmex 7," the report quoted Satmex CEO Patricio
Northland, as saying.  The report relates the company said that it
is planning to transition from Satmex 5 to Satmex 8 and that it
has negotiated a deal with U.S. firm Space Systems Loral to build
that new satellite.

According o the report, the company's Satmex 5 has been operating
on backup power since January after an "unexpected shutdown" in
its primary propulsion system.  "Satmex estimates that beginning
April 1, 2010, that backup system will provide approximately 31
months of useful life."   The report relates that the company said
that this mechanical failure "has not affected Satmex 5's service
to date and the plan is for it to continue to provide service
during its remaining lifespan without any negative impact on
Satmex 5's customers."

Meanwhile, the report relates, the new Satmex 8 satellite is
expected to have 64 transponders with a useful life of 15 years
and more powerful and flexible technological equipment for a broad
range of telecommunications applications.  The report notes that
the agreement with Space Systems Loral calls for the U.S. firm to
have Satmex 8 ready for launch in a period of 27 months after
payment of the first installment.  The company said the agreement
will expire in 60 days in the event a final contract for the
construction of Satmex 8 is not executed, the report says.

The Herald says that Satmex will need authorization from its
creditors -- holders of bonds expiring in 2011 and 2013 -- to
execute the final contract and cover the costs of building and
launching Satmex 8.  The report points out that the company noted
that in the event this plan fails, "Satmex's ability to offer
effective satellite services to its customers could be affected."

As reported in the Troubled Company Reporter-Latin America on
March 18, 2010, Bloomberg News said that EchoStar Corp. and
MVS Comunicaciones SA ended their agreement to buy Satelites
Mexicanos SA for US$267 million after the Mexican satellite
operator's bondholders objected to the deal.  The report related
that the termination leaves Satmex SA empty-handed after searching
for more than a year for a buyer or way to restructure debt.

                            About Satmex

Satelites Mexicanos, S.A. de C.V., is the leading satellite
service provider in Latin America.  Satmex's fleet offers
hemispheric and regional coverage throughout the Americas.

                           *     *     *

As of September 1, 2009, the company continues to carry these
ratings placed by Moody's:

   -- Issuer Rating of C,
   -- Senior Secured Rating of Caa1,
   -- Long-term Corporate Family Rating of Ca, and
   -- Senior Unsecured Debt Rating of C.


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


CONSTITUTION MINING: James Stafford Raises Going Concern Doubt
--------------------------------------------------------------
On March 31, 2010, Constitution Mining Corp. filed its annual
report on Form 10-K for the year ended December 31, 2009.

James Stafford Chartered Accountants, in Vancouver, Canada,
expressed substantial doubt about the Company's ability to
continue as a going concern.  The independent auditors noted the
Company has a loss of $9,749,164 for the year ended December 31,
2009, and has a working capital deficit of $1,480,730 at December
31, 2009.

The Company reported a net loss of $9.7 million for 2009,
compared with a net loss of $5.3 million for 2008.  The Company
has not generated any revenues from operations since the Company's
inception on March 6, 2000.

The Company's balance sheet as of December 31, 2009, showed
$20.4 million in assets, $2.6 million of debts, and $17.8 million
of stockholders' equity.

A full-text copy of the annual report is available for free at:

                  http://researcharchives.com/t/s?5e01

Based in Miraflores, Lima, Peru, Constitution Mining Corp.
(OTC BB: CMIN) is engaged in the acquisition, exploration, and
potential development of mining properties in Peru.


====================
P U E R T O  R I C O
====================


EFRAIN BETANCOURT: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Efrain Diaz Betancourt
        PO BOX 531
        Saint Just
        Trujillo Alto, PR 00978

Bankruptcy Case No.: 10-02563-11

Chapter 11 Petition Date: March 31, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Wigberto Lugo Mender, Esq.
                  Lugo Mender & Co.
                  Centro Internacional de Mercadeo
                  RD 165 Torre 1 Suite 501
                  Guaynabo, PR 00968
                  787 707-0404
                  E-mail: wlugo@lugomender.com

Estimated Assets: $1,000,001 to $10 million

Estimated Debts: $1,000,001 to $10 million

A list of the Company's 3 largest unsecured creditors is available
for free at:

                http://bankrupt.com/misc/prb10-02563-11.pdf


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


CRYSTALLEX INT'L: Dec. 31 Balance Sheet Upside-Down by US$44.7MM
----------------------------------------------------------------
On April 1, 2010, Crystallex International Corporation filed its
annual report on Form 40-F for the year ended December 31, 2009.

The Company's balance sheet as of December 31, 2009, showed
$58.1 million in assets and $102.8 million of debts, for a
stockholders' deficit of $44.7 million.

The Company reported a net loss of $313.9 million for 2009,
compared with a net loss of $25.7 million for 2008.  The Company
had no revenue from continuing operations in 2009 and 2008.

"As at December 31, 2009, the Company had positive working capital
of $7.2 million, including cash and cash equivalents of
$6.9 million.  Management estimates that these funds, in addition
to the proceeds from the equipment held for sale and loan, will be
sufficient to meet the Company's obligations and budgeted
expenditures through the second quarter of 2010, but will not be
sufficient to cover the Company's obligations over the next twelve
months.  This uncertainty raises substantial doubt as to the
ability of the Company to meet its obligations as they come due
and, accordingly, as to the appropriateness of the use of
accounting principles applicable to a going concern."

A full-text copy of the annual report is available for free at:

               http://researcharchives.com/t/s?5e08

Based in Toronto, Ontario, Canada, Crystallex International
Corporation and its subsidiaries are engaged in the development of
gold properties in Venezuela.  The Company's principal asset is
its interest in the Las Cristinas gold project located in Bolivar
State, Venezuela.


PETROLEOS DE VENEZUELA: In Talks With Rosneft
---------------------------------------------
Russia's largest oil producer Rosneft said that it was in talks
with Petroleos de Venezuela "on various issues," though there were
no proposals to acquire a stake in PDVSA's German assets, Dmitry
Zhdannikov at Reuters reports.

Unnamed industry sources told Reuters that Rosneft was seeking to
buy stakes in four German refineries from Venezuela as part of a
Kremlin drive to encourage its firms to own assets all over the
world.  "Rosneft is in talks with PDVSA on various issues, has not
received proposals to buy a stake in German refineries", a Rosneft
spokesman told Reuters in an interview.

The report notes that the deal, in which Rosneft could buy PDVSA's
50% stake in the Ruhr Oil refinery venture with BP, may be
discussed on the fringes of Russian Prime Minister Vladimir
Putin's visit to Venezuela on later.

                           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.


===============
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

SOC COMERCIAL PL     SCDPF US         117956834.8      -250298760
SNIAFA SA-B          SDAGF US         11229696.22     -2670544.88
SOC COMERCIAL PL     CAD IX           117956834.8      -250298760
SOC COMERCIAL PL     CVVIF US         117956834.8      -250298760
SOC COMERCIAL PL     CADN EO          117956834.8      -250298760
COMERCIAL PL-ADR     SCPDS LI         117956834.8      -250298760
SOC COMERCIAL PL     COME AR          117956834.8      -250298760
SOC COMERCIAL PL     CADN SW          117956834.8      -250298760
COMERCIAL PLA-BL     COMEB AR         117956834.8      -250298760
COMERCIAL PL-C/E     COMEC AR         117956834.8      -250298760
COMERCIAL PLAT-$     COMED AR         117956834.8      -250298760
SNIAFA SA            SNIA AR          11229696.22     -2670544.88
SNIAFA SA-B          SNIA5 AR         11229696.22     -2670544.88
IMPSAT FIBER NET     IMPTQ US           535007008       -17165000
IMPSAT FIBER NET     330902Q GR         535007008       -17165000
IMPSAT FIBER NET     XIMPT SM           535007008       -17165000
IMPSAT FIBER-CED     IMPT AR            535007008       -17165000
IMPSAT FIBER-C/E     IMPTC AR           535007008       -17165000
IMPSAT FIBER-$US     IMPTD AR           535007008       -17165000
IMPSAT FIBER-BLK     IMPTB AR           535007008       -17165000

BRAZIL

DOC IMBITUBA-RTC     IMBI1 BZ         114896167.4     -16783228.4
DOC IMBITUBA-RTP     IMBI2 BZ         114896167.4     -16783228.4
TELECOMUNICA-ADR     81370Z BZ        248609064.5     -9345005.13
FABRICA TECID-RT     FTRX1 BZ         65955223.63     -56330080.2
PROMAN               PRMN3B BZ        13403496.63     -173711.308
TEKA-ADR             TEKAY US         236758336.6      -334535567
BOMBRIL              BMBBF US           300229620      -120551090
TELEBRAS-PF RCPT     CBRZF US         248609064.5     -9345005.13
TEKA                 TKTQF US         236758336.6      -334535567
TEKA-PREF            TKTPF US         236758336.6      -334535567
REII INC             REIC US             16631180        -1448544
PET MANG-RIGHTS      RPMG1 BZ         97015785.16      -251755220
PET MANG-RIGHTS      RPMG2 BZ         97015785.16      -251755220
PET MANG-RECEIPT     RPMG9 BZ         97015785.16      -251755220
PET MANG-RECEIPT     RPMG10 BZ        97015785.16      -251755220
MMX MINERACAO        TRES3 BZ         981664767.8      -207254300
MMX MINERACA-GDR     MMXMY US         981664767.8      -207254300
SANESALTO            SNST3 BZ         27381496.74      -870175.96
B&D FOOD CORP        BDFCE US            16631180        -1448544
BOMBRIL-RGTS PRE     BOBR2 BZ           300229620      -120551090
BOMBRIL-RIGHTS       BOBR1 BZ           300229620      -120551090
MMX MINERACA-GDR     XMM CN           981664767.8      -207254300
TELEBRAS/W-I-ADR     TBH-W US         248609064.5     -9345005.13
MMX MINERACA-GDR     3M11 GR          981664767.8      -207254300
LAEP-BDR             MILK11 BZ        446499199.2     -70952298.9
LAEP INVESTMENTS     LEAP LX          446499199.2     -70952298.9
MMX MINERACAO        MMXCF US         981664767.8      -207254300
BALADARE             BLDR3 BZ         144928980.8     -33970462.8
TEXTEIS RENAU-RT     TXRX1 BZ         58969047.84     -91550951.9
TEXTEIS RENAU-RT     TXRX2 BZ         58969047.84     -91550951.9
TEXTEIS RENA-RCT     TXRX9 BZ         58969047.84     -91550951.9
TEXTEIS RENA-RCT     TXRX10 BZ        58969047.84     -91550951.9
TELEBRAS SA-RT       TELB9 BZ         248609064.5     -9345005.13
GASCOIGNE EMP-PF     GASC4 BZ          1123596482      -536003486
ALL MALHA PAULIS     GASC3 BZ          1123596482      -536003486
CIA PETROLIF-PRF     MRLM4 BZ         377602195.2     -3014291.72
CIA PETROLIFERA      MRLM3 BZ         377602195.2     -3014291.72
NOVA AMERICA SA      NOVA3 BZ            21287489      -183535527
NOVA AMERICA-PRF     NOVA4 BZ            21287489      -183535527
PROMAN               PRMN3 BZ         13403496.63     -173711.308
B&D FOOD CORP        BDFC US             16631180        -1448544
MMX MINERACAO-RT     MMXM1 BZ         981664767.8      -207254300
MMX MINERACA-RCT     MMXM9 BZ         981664767.8      -207254300
TELEBRAS SA          TELB3 BZ         248609064.5     -9345005.13
TELEBRAS SA          TLBRON BZ        248609064.5     -9345005.13
TELEBRAS SA          TBASF US         248609064.5     -9345005.13
TELEBRAS SA-PREF     TELB4 BZ         248609064.5     -9345005.13
TELEBRAS SA-PREF     TLBRPN BZ        248609064.5     -9345005.13
TELEBRAS-ADR         TBAPY US         248609064.5     -9345005.13
TELEBRAS-ADR         TBRAY GR         248609064.5     -9345005.13
TELEBRAS-CEDE PF     RCTB4 AR         248609064.5     -9345005.13
TELEBRAS-CED C/E     RCT4C AR         248609064.5     -9345005.13
TELEBRAS-CEDEA $     RCT4D AR         248609064.5     -9345005.13
TELEBRAS-CEDE BL     RCT4B AR         248609064.5     -9345005.13
TELEBRAS-ADR         TBH US           248609064.5     -9345005.13
TELEBRAS-ADR         TBX GR           248609064.5     -9345005.13
TELEBRAS-ADR         RTB US           248609064.5     -9345005.13
TELEBRAS-ADR         TBASY US         248609064.5     -9345005.13
TELEBRAS-RCT PRF     TELB10 BZ        248609064.5     -9345005.13
TELEBRAS-RTS CMN     RCTB1 BZ         248609064.5     -9345005.13
TELEBRAS-RTS PRF     RCTB2 BZ         248609064.5     -9345005.13
TELEBRAS-RTS CMN     TCLP1 BZ         248609064.5     -9345005.13
TELEBRAS-RTS PRF     TLCP2 BZ         248609064.5     -9345005.13
TELEBRAS-COM RT      TELB1 BZ         248609064.5     -9345005.13
TELEBRAS-CM RCPT     RCTB31 BZ        248609064.5     -9345005.13
TELEBRAS-CM RCPT     TELE31 BZ        248609064.5     -9345005.13
TELEBRAS-RCT         RCTB33 BZ        248609064.5     -9345005.13
TELEBRAS-CM RCPT     TBRTF US         248609064.5     -9345005.13
TELEBRAS-CM RCPT     RCTB32 BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     RCTB41 BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     TELE41 BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     RCTB42 BZ        248609064.5     -9345005.13
TELEBRAS-CEDE PF     TELB4 AR         248609064.5     -9345005.13
TELEBRAS-CED C/E     TEL4C AR         248609064.5     -9345005.13
TELEBRAS-CM RCPT     RCTB30 BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     RCTB40 BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     TBAPF US         248609064.5     -9345005.13
TELEBRAS-RECEIPT     TLBRUO BZ        248609064.5     -9345005.13
TELEBRAS-PF RCPT     TLBRUP BZ        248609064.5     -9345005.13
TELEBRAS-BLOCK       TELB30 BZ        248609064.5     -9345005.13
TELEBRAS-PF BLCK     TELB40 BZ        248609064.5     -9345005.13
TELEBRAS-CEDEA $     TEL4D AR         248609064.5     -9345005.13
ARTHUR LANGE         ARLA3 BZ         11642255.92     -17154461.9
ARTHUR LANGE SA      ALICON BZ        11642255.92     -17154461.9
ARTHUR LANGE-PRF     ARLA4 BZ         11642255.92     -17154461.9
ARTHUR LANGE-PRF     ALICPN BZ        11642255.92     -17154461.9
ARTHUR LANG-RT C     ARLA1 BZ         11642255.92     -17154461.9
ARTHUR LANG-RT P     ARLA2 BZ         11642255.92     -17154461.9
ARTHUR LANG-RC C     ARLA9 BZ         11642255.92     -17154461.9
ARTHUR LANG-RC P     ARLA10 BZ        11642255.92     -17154461.9
ARTHUR LAN-DVD C     ARLA11 BZ        11642255.92     -17154461.9
ARTHUR LAN-DVD P     ARLA12 BZ        11642255.92     -17154461.9
BOMBRIL              BOBR3 BZ           300229620      -120551090
BOMBRIL CIRIO SA     BOBRON BZ          300229620      -120551090
BOMBRIL-PREF         BOBR4 BZ           300229620      -120551090
BOMBRIL CIRIO-PF     BOBRPN BZ          300229620      -120551090
BOMBRIL SA-ADR       BMBPY US           300229620      -120551090
BOMBRIL SA-ADR       BMBBY US           300229620      -120551090
BUETTNER             BUET3 BZ          97710630.4     -46681943.4
BUETTNER SA          BUETON BZ         97710630.4     -46681943.4
BUETTNER-PREF        BUET4 BZ          97710630.4     -46681943.4
BUETTNER SA-PRF      BUETPN BZ         97710630.4     -46681943.4
BUETTNER SA-RTS      BUET1 BZ          97710630.4     -46681943.4
BUETTNER SA-RT P     BUET2 BZ          97710630.4     -46681943.4
CAF BRASILIA         CAFE3 BZ         20168618.46      -728730286
CAFE BRASILIA SA     CSBRON BZ        20168618.46      -728730286
CAF BRASILIA-PRF     CAFE4 BZ         20168618.46      -728730286
CAFE BRASILIA-PR     CSBRPN BZ        20168618.46      -728730286
CHIARELLI SA         CCHI3 BZ         22274026.77     -44537138.2
CHIARELLI SA         CCHON BZ         22274026.77     -44537138.2
CHIARELLI SA-PRF     CCHI4 BZ         22274026.77     -44537138.2
CHIARELLI SA-PRF     CCHPN BZ         22274026.77     -44537138.2
DOC IMBITUBA         IMBI3 BZ         114896167.4     -16783228.4
DOCAS IMBITUBA       IMBION BZ        114896167.4     -16783228.4
DOC IMBITUB-PREF     IMBI4 BZ         114896167.4     -16783228.4
DOCAS IMBITUB-PR     IMBIPN BZ        114896167.4     -16783228.4
SCHLOSSER            SCLO3 BZ         11745600.44     -75930514.2
SCHLOSSER SA         SCHON BZ         11745600.44     -75930514.2
SCHLOSSER-PREF       SCLO4 BZ         11745600.44     -75930514.2
SCHLOSSER SA-PRF     SCHPN BZ         11745600.44     -75930514.2
CONST A LINDEN       CALI3 BZ         11147512.97       -15979177
CONST A LINDEN       LINDON BZ        11147512.97       -15979177
CONST A LIND-PRF     CALI4 BZ         11147512.97       -15979177
CONST A LIND-PRF     LINDPN BZ        11147512.97       -15979177
D H B                DHBI3 BZ         124060999.4      -405125353
DHB IND E COM        DHBON BZ         124060999.4      -405125353
D H B-PREF           DHBI4 BZ         124060999.4      -405125353
DHB IND E COM-PR     DHBPN BZ         124060999.4      -405125353
DOCA INVESTIMENT     DOCA3 BZ         88417960.92     -18059127.9
DOCAS SA             DOCAON BZ        88417960.92     -18059127.9
DOCA INVESTI-PFD     DOCA4 BZ         88417960.92     -18059127.9
DOCAS SA-PREF        DOCAPN BZ        88417960.92     -18059127.9
DOCAS SA-RTS PRF     DOCA2 BZ         88417960.92     -18059127.9
ACO ALTONA           EALT3 BZ         84614947.94     -14270921.5
ACO ALTONA SA        EAAON BZ         84614947.94     -14270921.5
ACO ALTONA-PREF      EALT4 BZ         84614947.94     -14270921.5
ACO ALTONA-PREF      EAAPN BZ         84614947.94     -14270921.5
FABRICA RENAUX       FTRX3 BZ         65955223.63     -56330080.2
FABRICA RENAUX       FRNXON BZ        65955223.63     -56330080.2
FABRICA RENAUX-P     FTRX4 BZ         65955223.63     -56330080.2
FABRICA RENAUX-P     FRNXPN BZ        65955223.63     -56330080.2
HAGA                 HAGA3 BZ         16483114.08       -62923102
FERRAGENS HAGA       HAGAON BZ        16483114.08       -62923102
FER HAGA-PREF        HAGA4 BZ         16483114.08       -62923102
FERRAGENS HAGA-P     HAGAPN BZ        16483114.08       -62923102
TECEL S JOSE         SJOS3 BZ         17924946.14     -18569451.2
TECEL S JOSE         FTSJON BZ        17924946.14     -18569451.2
TECEL S JOSE-PRF     SJOS4 BZ         17924946.14     -18569451.2
TECEL S JOSE-PRF     FTSJPN BZ        17924946.14     -18569451.2
CIMOB PARTIC SA      GAFP3 BZ         36817394.78     -33083086.5
CIMOB PARTIC SA      GAFON BZ         36817394.78     -33083086.5
CIMOB PART-PREF      GAFP4 BZ         36817394.78     -33083086.5
CIMOB PART-PREF      GAFPN BZ         36817394.78     -33083086.5
GAZOLA               GAZO3 BZ         12452143.07     -40298506.3
GAZOLA SA            GAZON BZ         12452143.07     -40298506.3
GAZOLA-PREF          GAZO4 BZ         12452143.07     -40298506.3
GAZOLA SA-PREF       GAZPN BZ         12452143.07     -40298506.3
GAZOLA-RCPTS CMN     GAZO9 BZ         12452143.07     -40298506.3
GAZOLA-RCPT PREF     GAZO10 BZ        12452143.07     -40298506.3
GAZOLA SA-DVD CM     GAZO11 BZ        12452143.07     -40298506.3
GAZOLA SA-DVD PF     GAZO12 BZ        12452143.07     -40298506.3
IGB ELETRONICA       IGBR3 BZ         145256033.3      -273857292
GRADIENTE ELETR      IGBON BZ         145256033.3      -273857292
GRADIENTE-PREF A     IGBR5 BZ         145256033.3      -273857292
GRADIENTE EL-PRA     IGBAN BZ         145256033.3      -273857292
GRADIENTE-PREF B     IGBR6 BZ         145256033.3      -273857292
GRADIENTE EL-PRB     IGBBN BZ         145256033.3      -273857292
GRADIENTE-PREF C     IGBR7 BZ         145256033.3      -273857292
GRADIENTE EL-PRC     IGBCN BZ         145256033.3      -273857292
HERCULES             HETA3 BZ          11597351.7      -168514681
HERCULES SA          HERTON BZ         11597351.7      -168514681
HERCULES-PREF        HETA4 BZ          11597351.7      -168514681
HERCULES SA-PREF     HERTPN BZ         11597351.7      -168514681
RENAUXVIEW SA        TXRX3 BZ         58969047.84     -91550951.9
TEXTEIS RENAUX       RENXON BZ        58969047.84     -91550951.9
RENAUXVIEW SA-PF     TXRX4 BZ         58969047.84     -91550951.9
TEXTEIS RENAUX       RENXPN BZ        58969047.84     -91550951.9
PARMALAT             LCSA3 BZ         388720052.3      -213641144
PARMALAT BRASIL      LCSAON BZ        388720052.3      -213641144
PARMALAT-PREF        LCSA4 BZ         388720052.3      -213641144
PARMALAT BRAS-PF     LCSAPN BZ        388720052.3      -213641144
PARMALAT BR-RT C     LCSA5 BZ         388720052.3      -213641144
PARMALAT BR-RT P     LCSA6 BZ         388720052.3      -213641144
ESTRELA SA           ESTR3 BZ         61011893.59     -54580283.6
ESTRELA SA           ESTRON BZ        61011893.59     -54580283.6
ESTRELA SA-PREF      ESTR4 BZ         61011893.59     -54580283.6
ESTRELA SA-PREF      ESTRPN BZ        61011893.59     -54580283.6
RIOSULENSE SA        RSUL3 BZ         61902901.69     -11292932.5
RIOSULENSE SA        RSULON BZ        61902901.69     -11292932.5
RIOSULENSE SA-PR     RSUL4 BZ         61902901.69     -11292932.5
RIOSULENSE SA-PR     RSULPN BZ        61902901.69     -11292932.5
WETZEL SA            MWET3 BZ         81918484.19     -8800803.64
WETZEL SA            MWELON BZ        81918484.19     -8800803.64
WETZEL SA-PREF       MWET4 BZ         81918484.19     -8800803.64
WETZEL SA-PREF       MWELPN BZ        81918484.19     -8800803.64
MINUPAR              MNPR3 BZ         64999715.99      -103795048
MINUPAR SA           MNPRON BZ        64999715.99      -103795048
MINUPAR-PREF         MNPR4 BZ         64999715.99      -103795048
MINUPAR SA-PREF      MNPRPN BZ        64999715.99      -103795048
NORDON MET           NORD3 BZ         15498217.36     -20133536.7
NORDON METAL         NORDON BZ        15498217.36     -20133536.7
NORDON MET-RTS       NORD1 BZ         15498217.36     -20133536.7
NOVA AMERICA SA      NOVA3B BZ           21287489      -183535527
NOVA AMERICA SA      NOVAON BZ           21287489      -183535527
NOVA AMERICA-PRF     NOVA4B BZ           21287489      -183535527
NOVA AMERICA-PRF     NOVAPN BZ           21287489      -183535527
NOVA AMERICA-PRF     1NOVPN BZ           21287489      -183535527
NOVA AMERICA SA      1NOVON BZ           21287489      -183535527
PETRO MANGUINHOS     RPMG3 BZ         97015785.16      -251755220
PETRO MANGUINHOS     MANGON BZ        97015785.16      -251755220
PET MANGUINH-PRF     RPMG4 BZ         97015785.16      -251755220
PETRO MANGUIN-PF     MANGPN BZ        97015785.16      -251755220
RIMET                REEM3 BZ         63757621.65      -107162240
RIMET                REEMON BZ        63757621.65      -107162240
RIMET-PREF           REEM4 BZ         63757621.65      -107162240
RIMET-PREF           REEMPN BZ        63757621.65      -107162240
SANSUY               SNSY3 BZ         100279114.9     -45812488.8
SANSUY SA            SNSYON BZ        100279114.9     -45812488.8
SANSUY-PREF A        SNSY5 BZ         100279114.9     -45812488.8
SANSUY SA-PREF A     SNSYAN BZ        100279114.9     -45812488.8
SANSUY-PREF B        SNSY6 BZ         100279114.9     -45812488.8
SANSUY SA-PREF B     SNSYBN BZ        100279114.9     -45812488.8
BOTUCATU TEXTIL      STRP3 BZ         35101566.77     -13482713.5
STAROUP SA           STARON BZ        35101566.77     -13482713.5
BOTUCATU-PREF        STRP4 BZ         35101566.77     -13482713.5
STAROUP SA-PREF      STARPN BZ        35101566.77     -13482713.5
TEKA                 TEKA3 BZ         236758336.6      -334535567
TEKA                 TEKAON BZ        236758336.6      -334535567
TEKA-PREF            TEKA4 BZ         236758336.6      -334535567
TEKA-PREF            TEKAPN BZ        236758336.6      -334535567
TEKA-ADR             TKTPY US         236758336.6      -334535567
TEKA-ADR             TKTQY US         236758336.6      -334535567
VARIG SA             VAGV3 BZ         966298025.5     -4695211316
VARIG SA             VARGON BZ        966298025.5     -4695211316
VARIG SA-PREF        VAGV4 BZ         966298025.5     -4695211316
VARIG SA-PREF        VARGPN BZ        966298025.5     -4695211316
WIEST                WISA3 BZ         39838113.86     -93371563.1
WIEST SA             WISAON BZ        39838113.86     -93371563.1
WIEST-PREF           WISA4 BZ         39838113.86     -93371563.1
WIEST SA-PREF        WISAPN BZ        39838113.86     -93371563.1
FER C ATLANT         VSPT3 BZ          1212489621     -38389781.7
FER C ATLANT-PRF     VSPT4 BZ          1212489621     -38389781.7
FERROVIA CEN-DVD     VSPT11 BZ         1212489621     -38389781.7
FERROVIA CEN-DVD     VSPT12 BZ         1212489621     -38389781.7
FER C ATL-RCT CM     VSPT9 BZ          1212489621     -38389781.7
FER C ATL-RCT PF     VSPT10 BZ         1212489621     -38389781.7
HOPI HARI SA         PQTM3 BZ         62168844.09     -55189836.7
HOPI HARI-PREF       PQTM4 BZ         62168844.09     -55189836.7
PARQUE TEM-DV CM     PQT5 BZ          62168844.09     -55189836.7
PARQUE TEM-DV PF     PQT6 BZ          62168844.09     -55189836.7
PARQUE TEM-RT CM     PQTM1 BZ         62168844.09     -55189836.7
PARQUE TEM-RT PF     PQTM2 BZ         62168844.09     -55189836.7
PARQUE TEM-RCT C     PQTM9 BZ         62168844.09     -55189836.7
PARQUE TEM-RCT P     PQTM10 BZ        62168844.09     -55189836.7
MMX MINERACAO        MMXM3 BZ         981664767.8      -207254300
TRESSEM PART SA      1TSSON BZ        981664767.8      -207254300
ALL MALHA PAULIS     GASC3B BZ         1123596482      -536003486
GASCOIGNE EMP-PF     GASC4B BZ         1123596482      -536003486
GASCOIGNE EMPREE     1GASON BZ         1123596482      -536003486
GASCOIGNE EMP-PF     1GASPN BZ         1123596482      -536003486
CIA PETROLIFERA      MRLM3B BZ        377602195.2     -3014291.72
CIA PETROLIF-PRF     MRLM4B BZ        377602195.2     -3014291.72
CIA PETROLIFERA      1CPMON BZ        377602195.2     -3014291.72
CIA PETROLIF-PRF     1CPMPN BZ        377602195.2     -3014291.72
LATTENO FOOD COR     LATF US             16631180        -1448544
VARIG PART EM TR     VPTA3 BZ         49432124.18      -399290426
VARIG PART EM-PR     VPTA4 BZ         49432124.18      -399290426
VARIG PART EM SE     VPSC3 BZ         96617351.14      -460274609
VARIG PART EM-PR     VPSC4 BZ         96617351.14      -460274609


CHILE

CHILESAT CO-ADR      TL US            506644998.8     -60450603.1
CHILESAT CORP SA     TELEX CI         506644998.8     -60450603.1
CHILESAT CO-RTS      CHISATOS CI      506644998.8     -60450603.1
TELMEX CORP SA       CHILESAT CI      506644998.8     -60450603.1
TELEX-A              TELEXA CI        506644998.8     -60450603.1
TELMEX CORP-ADR      CSAOY US         506644998.8     -60450603.1
TELEX-RTS            TELEXO CI        506644998.8     -60450603.1


                            ***********

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.


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