TCRLA_Public/100421.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

              Wednesday, April 21, 2010, Vol. 11, No. 077

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: To Close 2 Caribbean Newspapers


A R G E N T I N A

ALIMENTOS POSITANO: Creditors' Proofs of Debt Due on May 4
ALLIANZ ARGENTINA: Moody's Affirms 'Ba3' Insurance Ratings
ARGENTINA BALLET: Requests for Preventive Contest
ARPEC SA: Creditors' Proofs of Debt Due on June 30
CABAF SRL: Creditors' Proofs of Debt Due on May 28

PETS GROUP: Requests for Preventive Contest
REFRIGERACION INDUMET: Creditors' Proofs of Debt Due on June 25


B R A Z I L

BANCO PANAMERICANO: Moody's Puts 'Ba3' Rating on US$500 Mil. Bonds
CAMARGO CORREA: Cimpor Poured EUR133MM in Brazil Over Last 3 Years
COMPANHIA SIDERURGICA: Workers Begin 1-Day Strike at Iron-Ore Mine
GERDAU AMERISTEEL: To Release First Quarter Results on May 6
GERDAU SA: Quake-Hit Chile Operations Back Online


C A Y M A N  I S L A N D S

ANAK EUROPEAN: Shareholder Receives Wind-Up Report
ANDISA CAPITAL: Members Receive Wind-Up Report
ANTHRACITE BALANCED: Commences Liquidation Proceedings
ANTHRACITE BALANCED: Commences Liquidation Proceedings
ANTHRACITE BALANCED: Commences Liquidation Proceedings

ANTHRACITE BALANCED: Commences Liquidation Proceedings
APEX INSURANCE: Shareholders Receive Wind-Up Report
BLUESTEP CAPITAL: Members Receive Wind-Up Report
CHICAGO FRIENDS: Shareholders Receive Wind-Up Report
COBBS WHARF: Commences Liquidation Proceedings

COBBS WHARF: Members Receive Wind-Up Report
FINIA LIMITED: Members Receive Wind-Up Report
FLEXIA FUND: Shareholders Receive Wind-Up Report
FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12
FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12

FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12
FORE ERISA: Creditors' Proofs of Debt Due on May 12
GAME FACTORY: Members Receive Wind-Up Report
GED LONG: Members Receive Wind-Up Report
GLACIER PEAK: Commences Wind-Up Proceedings

GLACIER PEAK: Shareholder Receives Wind-Up Report
HALBIS ALPHA: Members Receive Wind-Up Report
HALBIS COMMODITIES: Members Receive Wind-Up Report
IAM BRIC: Shareholders Receive Wind-Up Report
IRIS INVESTMENTS: Members Receive Wind-Up Report

JAMURI LTD: Members Receive Wind-Up Report
KBC INVESTMENTS: Members Receive Wind-Up Report
KBC INVESTMENTS: Members Receive Wind-Up Report
LADY MICHELLE: Commences Wind-Up Proceedings
L T GOLD: Creditors' Proofs of Debt Due on May 4

MILLICENT LTD: Members Receive Wind-Up Report
MUNSTEAD HOLDINGS: Members Receive Wind-Up Report
NEBO LIMITED: Members Receive Wind-Up Report
OAK FUNDING: Commences Liquidation Proceedings
OAK FUNDING: Members Receive Wind-Up Report

OCEAN HARVEST: Members Receive Wind-Up Report
OWENOKE OFFSHORE: Members Receive Wind-Up Report
PANTON ALTERNATIVE: Shareholder Receives Wind-Up Report
PENTAGRAM OFFSHORE: Creditors' Proofs of Debt Due on May 12
PEVANI LDC: Members Receive Wind-Up Report

PICO FUND: Shareholder Receives Wind-Up Report
QNI CAPITAL: Members Receive Wind-Up Report
QONWAY INVESTMENTS: Shareholders Receive Wind-Up Report
SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4
SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4

SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4
SLC CORP: Commences Liquidation Proceedings
SLC CORP: Members Receive Wind-Up Report
SO SPECIAL: Shareholders Receive Wind-Up Report
SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report

SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report
SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report
SPI INVESTMENTS: Member Receives Wind-Up Report
STRATTON STREET: Shareholders Receive Wind-Up Report
TRIAN SPV: Shareholders Receive Wind-Up Report

TRIAN SPV: Shareholders Receive Wind-Up Report
UBS US: Shareholders Receive Wind-Up Report
VALE LIMITED: Shareholder Receives Wind-Up Report
VONTOBEL ABSOLUTE: Shareholders Receive Wind-Up Report
WILLOW CREEK: Shareholders Receive Wind-Up Report


C H I L E

EDELNOR: Chile fund in US$450 Million Peru Energy Deal


C O L O M B I A

ECOPETROL SA: To Host Q1 Earnings Release & Webcast on April 27
LA CORTEZ ENERGY: Independent Auditors Raise Coing Concern Doubt


C O S T A  R I C A

* COSTA RICA: Economic Recovery is Firmly Underway


H A I T I

* HAITI: IDB Provides US$100 Million Financial Mechanism


J A M A I C A

AIR JAMAICA: Gets Waiver to Fly to the United States
* JAMAICA: New Wage Deal Signed for Sugar Workers


M E X I C O

CONTROLADORA COMMERCIAL: Reaches Deal With 85% of Creditors


P A N A M A

MULTIBANK INC: Fitch Upgrades Issuer Default Ratings to 'BB'


P E R U

DOE RUN PERU: Union Seeks Gov't Intervention to Restart Unit


P U E R T O  R I C O

DORAL FINANCIAL: To Raise Up to US$600 Million


U R U G U A Y

CITIBANK NA: S&P Affirms 'BB-/B' Counterparty Credit Ratings


V E N E Z U E L A

PETROLEOS DE VENEZUELA: China to Invest US16.3BB in Junin 4
PETROLEOS DE VENEZUELA: JVs at Carabobo Oil Field Established
PETROLEOS DE VENEZUELA: Orinoco Petroleum Coke Exports Rise in 1Q


X X X X X X X X

* LATAM: IDB to Expand Lending for Renewable Energy Projects



                         - - - - -


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


STANFORD INT'L: To Close 2 Caribbean Newspapers
-----------------------------------------------
Robert Allen Stanford's Caribbean newspapers -- Antigua Sun and
the Sun St. Kitts and Nevis -- were ordered closed because of
financial constraints, The Associated Press reports.  The Antigua
Sun has operated for 13 years, and the Sun St. Kitts and Nevis
nearly six years.

According to the report, about 50 employees of the two newspapers
received a letter stating that Stanford-owned Sun Printing &
Publishing "will be unable to sustain operations in the immediate
future."  The report relates that the letter, signed by General
Manager Patrick Henry, stated that the company's directors were
working with lawyers to explore possible financing options.

The report says that last month, the Antigua Sun stopped
publishing for several days as it struggled to pay its bills.

                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
=================


ALIMENTOS POSITANO: Creditors' Proofs of Debt Due on May 4
----------------------------------------------------------
Pablo Melaragni, the court-appointed trustee for Alimentos
Positano SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until May 4, 2010.

Mr. Melaragni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 25 in Buenos Aires, with the assistance of Clerk
No. 49, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Pablo Melaragni
         Marcelo T. de Alvear 88
         Argentina


ALLIANZ ARGENTINA: Moody's Affirms 'Ba3' Insurance Ratings
----------------------------------------------------------
Moody's Latin America has affirmed Allianz Argentina's insurance
financial strength ratings at Ba3 global local currency and Aa2.ar
on the Argentine national scale.  In the same action, Moody's
changed the ratings outlook to positive from stable.

According to Moody's, the change in the rating outlook to positive
for Allianz Argentina primarily reflects the improving trend in
its financial fundamentals, particularly its asset quality and
capitalization.  The company has been consistently reducing its
exposure to high risk assets, allocating a greater portion of
investments to US Treasury Bills, in addition to other high-rated
corporate bonds and fixed income assets.  Allianz Argentina has
also improved its capitalization, with a consistently high level
of capital cushion above local solvency margins.  These particular
improvements in Allianz Argentina's credit profile, however, are
tempered to some extent by its modest size in the general
insurance market, as well as its relatively high product risk,
with concentration in automobile and property coverage.

Moody's analyst Rodolfo Nobrega added: "The positive outlook on
Allianz Argentina's IFS ratings also considers some
differentiation of its credit risk profile relative to other
Ba3/Aa2.ar rated Argentine insurers.  This differentiation is
evident in the company's consistently solid profitability and
capacity to generate internal capital, particularly in comparison
to peers."

Allianz Argentina's capitalization has been recovering over recent
periods, notwithstanding consistent dividend payments to its
parent company over the past few years, and compares well to local
peers.  The rating agency noted, however, that while this
improvement in capital adequacy is viewed positively from a credit
risk perspective, it remains relatively weak when viewed on a
global basis.

Among factors that could lead to the upgrade of Allianz
Argentina's ratings, Moody's indicated these: 1) improvement in
the company's capitalization levels, with gross underwriting
leverage (gross premiums and reserves relative to shareholders'
equity) below 8x; 2) continued solid profitability, with combined
ratios around 97% and returns on equity consistently above 20%;
and 3) overall asset quality maintained at current (or better)
levels -- i.e.  no more than two-thirds of investments allocated
to high-risk assets.  Conversely, the outlook could be changed
back to stable should Allianz Argentina's current gross
underwriting leverage remain above 8x shareholders' equity, its
profitability metrics deteriorate or overall quality of assets
worsens.

Based in Buenos Aires, Allianz Argentina is an indirect wholly-
owned subsidiary of Allianz SE, headquartered in Munich, Germany.
For the first half of 2009/2010 fiscal year, ended on December 31,
2009, the company's total gross premium was ARS319 million and net
income was ARS20 million.  On December 31, 2009, Allianz
Argentina's total assets amounted to ARS630 million and its
shareholders' equity to ARS114 million.

In contrast, global local currency insurance financial strength
ratings indicate the relative credit risk of an insurance company
on a globally comparable scale.  In the case of ratings of
insurers domiciled in a country with a speculative grade sovereign
rating, such as Argentina, these ratings are the result of, among
several factors, the political risk, the risk of a generalized
debt moratorium, the weakness of the legal environment or
framework, and the risk of interference in the functioning of the
financial system.  Taken together, the national scale and global
local currency ratings provide a more comprehensive opinion about
the credit risk of the company.  Moody's insurance financial
strength ratings are opinions about the ability of insurance
companies to punctually pay senior policyholder claims and
obligations.


ARGENTINA BALLET: Requests for Preventive Contest
-------------------------------------------------
Argentina Ballet SRL requested for preventive contest.

The company stopped making payments last October 31, 2009.


ARPEC SA: Creditors' Proofs of Debt Due on June 30
--------------------------------------------------
Estudio Bertolot de Gennaro, the court-appointed trustee for Arpec
SA's reorganization proceedings, will be verifying creditors'
proofs of claim until June 30, 2010.

The trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 25 in Buenos Aires, with the assistance of Clerk
No. 50, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Estudio Bertolot de Gennaro
         Uruguay 775


CABAF SRL: Creditors' Proofs of Debt Due on May 28
--------------------------------------------------
Claudio Walter Caracciolo, the court-appointed trustee for Cabaf
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until May 28, 2010.

Mr. Caracciolo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 16 in Buenos Aires, with the assistance of Clerk
No. 32, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Claudio Walter Caracciolo
         Viamonte 1592
         Argentina


PETS GROUP: Requests for Preventive Contest
-------------------------------------------
Pets Group SA requested for preventive contest.


REFRIGERACION INDUMET: Creditors' Proofs of Debt Due on June 25
---------------------------------------------------------------
Gustavo Ariel Fizman, the court-appointed trustee for
Refrigeracion Indumet SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until June 25, 2010.

Mr. Fizman will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 12 in Buenos Aires, with the assistance of Clerk
No. 24, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Gustavo Ariel Fizman
         Emilio Mitre 435
         Argentina


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


BANCO PANAMERICANO: Moody's Puts 'Ba3' Rating on US$500 Mil. Bonds
------------------------------------------------------------------
Moody's Investors Service assigned a Ba3 long-term foreign
currency debt rating to the US$500 million subordinated unsecured
notes issued by Banco Panamericano S.A.  The notes are due April
2020, and are eligible for Tier II equity upon regulatory
approval.  The outlook on the rating is positive.

The rating agency noted that the subordination of the notes was
taken into consideration by applying a one notch differential off
Panamericano's Ba3 global local currency deposit rating, as per
Moody's notching convention.

The last rating action on Banco Panamericano was on December 3,
2009, when Moody's changed the outlook to positive from stable on
the bank's local and foreign currency deposit ratings, as well as
national scale ratings.  The outlook change was in response to the
announced partnership with Caixa Econ“mica Federal in December
2009.  The completion of the deal is still contingent upon
regulatory approval.

Banco Panamericano is headquartered in Sao Paulo, Brazil and had
total consolidated assets of R$11.6 billion (US$6.7 billion) and
equity of R$1.3 billion (US$660.2 million) as of December 31,
2009.

This rating was assigned to the US$500 million Subordinated
Unsecured Tier II Notes due 2020:

Ba3 long-term foreign currency debt rating, positive outlook


CAMARGO CORREA: Cimpor Poured EUR133MM in Brazil Over Last 3 Years
------------------------------------------------------------------
Portuguese cement company Cimpor, whose capital is now controlled
by Brazilian companies Camargo Correa SA and Votorantim, over the
last three years has invested EUR133 million in Brazil, which has
made the market one of the main contributors to the group's
results, Macauhub News reports.

According to thje report, in 2009 Cimpor employed 1,541 workers in
Brazil, 1,407 staff in Portugal and 1,119 in Spain.  The report
relates that the 2009 annual report and accounts Cimpor outlined
that 2009 was the biggest investment year of the three-year
period.

The report notes that in terms of industrial investments, Cimpor
applied EUR35.5 million in Brazil in 2007, EUR43.1 million in 2008
and EUR54.4 million in 2009.

Cimpor's turnover in Brazil in 2009 was the highest of the last
three years, totaling EUR427.4 million.  In Brazil, the report
adds, the company has a production capacity of 6.28 million tonnes
of cement per year, which accounts for a market share of around
8%.

                       About Camargo Correa

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

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 26, 2009, Fitch Ratings currently rates Camargo and its
special-purpose vehicle CCSA Finance Limited:

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


COMPANHIA SIDERURGICA: Workers Begin 1-Day Strike at Iron-Ore Mine
------------------------------------------------------------------
Lucia Kassai and Carlos Manuel Rodriguez at Bloomberg News report
that Companhia Siderurgica Nacional S.A. said that some workers at
its Casa de Pedra iron-ore mine started a one-day strike on
April 15, 2010, to push for a higher bonus payment.  "There is no
disruption in production," the report quoted Chief Executive
Officer Benjamin Steinbruch as saying.  The stoppage is "part of
the game" in pay talks, he added.

About 30% of the workers at the mine in Brazil's Minas Gerais
state joined the strike, spokeswoman Flavia Ferreira told
Bloomberg News in a telephone interview.  The report relates that
the walkout occurs as CSN, as the Rio de Janeiro-based company is
known, considers an initial public offering of its iron-ore unit.

                            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 AMERISTEEL: To Release First Quarter Results on May 6
------------------------------------------------------------
Gerdau Ameristeel Corporation will host a conference call to
discuss its 2010 first quarter financial results for the three-
month period ending March 31, 2010.  The company invites all
interested parties to participate.

The results will be released on Thursday, May 6, 2010 at 2:30
p.m., Eastern Time.  Please call in 15 minutes prior to start time
to secure a line.  Dial-in-Number is 1-647-427-7450 or 1-888-231-
8191.

Mario Longhi, President and CEO of Gerdau Ameristeel, and Barbara
Smith, Vice President and CFO, will co-chair the call.  A
question-and-answer session will follow, at which time the
operator will direct participants as to the correct procedure for
submitting questions.

                       About Gerdau Ameristeel

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

                           *     *     *

As of January 12, 2010, the company continues to carry Moody's Ba1
LT Corp Family rating, Senior Unsecured Debt rating, and
probability of default rating.  The company also continues to
carry Standard and Poor's BB+ Issuer Credit ratings.


GERDAU SA: Quake-Hit Chile Operations Back Online
-------------------------------------------------
Gerdau SA operations in Chile were back at full capacity after it
reopened the last of its plants closed following a massive
February 27 earthquake, Juana Casas at Reuters reports.

According to the report, Gerdau SA said that its Chilean
operations have an output capacity of 520,000 tonnes of steel a
year.  The report relates that the company said 50,000 tonnes of
steel it imported to Chile as an emergency measure following the
quake, which killed hundreds and wrecked towns and infrastructure,
had started to arrive in the last few days.

                       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.


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


ANAK EUROPEAN: Shareholder Receives Wind-Up Report
--------------------------------------------------
The shareholder of Anak European Fund Limited received on,
March 17, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Keith Blake
         c/o Dorra Mohammed
         Telephone: 345-914-4475
         Facsimile: 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-4800
         Facsimile: 345-949-7164


ANDISA CAPITAL: Members Receive Wind-Up Report
----------------------------------------------
The members of Andisa Capital Management received, on March 10,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


ANTHRACITE BALANCED: Commences Liquidation Proceedings
------------------------------------------------------
Anthracite Balanced Company (JR-48) commenced liquidation
proceedings on February 4, 2010.

Only creditors who were able to file their proofs of debt by
March 19, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


ANTHRACITE BALANCED: Commences Liquidation Proceedings
------------------------------------------------------
Anthracite Balanced Company (JR-45) commenced liquidation
proceedings on February 4, 2010.

Only creditors who were able to file their proofs of debt by
March 19, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


ANTHRACITE BALANCED: Commences Liquidation Proceedings
------------------------------------------------------
Anthracite Balanced Company (JR-23) commenced liquidation
proceedings on February 4, 2010.

Only creditors who were able to file their proofs of debt by
March 19, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


ANTHRACITE BALANCED: Commences Liquidation Proceedings
------------------------------------------------------
Anthracite Balanced Company (46) commenced liquidation proceedings
on February 4, 2010.

Only creditors who were able to file their proofs of debt by
March 19, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


APEX INSURANCE: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Apex Insurance Cayman received on, March 15,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


BLUESTEP CAPITAL: Members Receive Wind-Up Report
------------------------------------------------
The members of Bluestep Capital Funding Limited received on,
March 22, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


CHICAGO FRIENDS: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Chicago Friends Corporation received, on
March 19, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


COBBS WHARF: Commences Liquidation Proceedings
----------------------------------------------
Cobbs Wharf Offshore Fund, Ltd. commenced liquidation proceedings
on February 5, 2010.

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

The company's liquidator is:

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



COBBS WHARF: Members Receive Wind-Up Report
-------------------------------------------
The members of Cobbs Wharf Offshore Fund, Ltd. received on,
March 19, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


FINIA LIMITED: Members Receive Wind-Up Report
---------------------------------------------
The members of Finia Limited received, on March 10, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FLEXIA FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Flexia Fund (SPC) Ltd. received on, March 16,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12
---------------------------------------------------------
The creditors of Fore Convertible Intermediate Fund, Ltd. are
required to file their proofs of debt by May 12, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on March 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


FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12
---------------------------------------------------------
The creditors of Fore Convertible Master Fund, Ltd. are required
to file their proofs of debt by May 12, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on March 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


FORE CONVERTIBLE: Creditors' Proofs of Debt Due on May 12
---------------------------------------------------------
The creditors of Fore Convertible Offshore Fund, Ltd. are required
to file their proofs of debt by May 12, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on March 23, 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


FORE ERISA: Creditors' Proofs of Debt Due on May 12
---------------------------------------------------
The creditors of Fore Erisa Fund, Ltd. are required to file their
proofs of debt by May 12, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on March 23, 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


GAME FACTORY: Members Receive Wind-Up Report
--------------------------------------------
The members of Game Factory Limited received on, March 18, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

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


GED LONG: Members Receive Wind-Up Report
----------------------------------------
The members of Ged Long Short Equity Fund Limited received on,
March 18, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


GLACIER PEAK: Commences Wind-Up Proceedings
-------------------------------------------
Glacier Peak T-Bill Arbitrage Offshore Fund, Ltd. commenced
liquidation proceedings on February 3, 2010.

Only creditors who were able to file their proofs of debt by
March 8, 2010, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Bryant Terry
         Telephone: (345) 815-1803
         Facsimile: (345) 949-9876
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands

GLACIER PEAK: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of Glacier Peak T-Bill Arbitrage Offshore Fund,
Ltd. received on, March 17, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Bryant Terry
         Telephone: (345) 815-1803
         Facsimile: (345) 949-9876


HALBIS ALPHA: Members Receive Wind-Up Report
--------------------------------------------
The members of Halbis Alpha Master Ltd. received on, March 9,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

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) 814-2238
         Facsimile: (345) 949-8258


HALBIS COMMODITIES: Members Receive Wind-Up Report
--------------------------------------------------
The members of Halbis Commodities Alpha Fund, Ltd. received on,
March 9, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

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) 814-2238
         Facsimile: (345) 949-8258


IAM BRIC: Shareholders Receive Wind-Up Report
---------------------------------------------
The shareholders of IAM Bric Fund Ltd. received, on March 16,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


IRIS INVESTMENTS: Members Receive Wind-Up Report
------------------------------------------------
The members of Iris Investments Ltd. received, on March 10, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         UBS Nominees Ltd.
         c/o Stephen R. Nelson
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman, KY1-1107
         Cayman Islands


JAMURI LTD: Members Receive Wind-Up Report
------------------------------------------
The members of Jamuri Ltd. received, on March 10, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


KBC INVESTMENTS: Members Receive Wind-Up Report
-----------------------------------------------
The members of KBC Investments Cayman Islands VII, Ltd. received
on, March 22, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


KBC INVESTMENTS: Members Receive Wind-Up Report
-----------------------------------------------
The members of KBC Investments Cayman Islands VII, Ltd. received
on, March 22, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


LADY MICHELLE: Commences Wind-Up Proceedings
--------------------------------------------
Lady Michelle Marine Limited commenced wind-up proceedings on
January 31, 2010.

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

The company's liquidator is:

         Miguel B. Fernandez
         121 Alhambra Plaza
         Suite 1100, Coral Gables
         FL 331345, USA
         Telephone: 305-476-5155
         Facsimile: 305-461-4999


L T GOLD: Creditors' Proofs of Debt Due on May 4
------------------------------------------------
The creditors of L T Gold 3 are required to file their proofs of
debt by May 4, 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:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814 7366
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


MILLICENT LTD: Members Receive Wind-Up Report
---------------------------------------------
The members of Millicent Ltd. received, on March 10, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


MUNSTEAD HOLDINGS: Members Receive Wind-Up Report
-------------------------------------------------
The members of Munstead Holdings Inc. received on, March 16, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Michael D. Butterman
         c/o Duane Morris LLP
         1540 Broadway, New York, NY 10036-4086
         United States of America


NEBO LIMITED: Members Receive Wind-Up Report
--------------------------------------------
The members of Nebo Limited received, on March 10, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


OAK FUNDING: Commences Liquidation Proceedings
----------------------------------------------
Oak Funding Corp. commenced liquidation proceedings on February 5,
2010.

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

The company's liquidator is:

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


OAK FUNDING: Members Receive Wind-Up Report
-------------------------------------------
The members of Oak Funding Corp. received on, March 19, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


OCEAN HARVEST: Members Receive Wind-Up Report
---------------------------------------------
The members of Ocean Harvest Group Holding Ltd. received on,
March 18, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


OWENOKE OFFSHORE: Members Receive Wind-Up Report
------------------------------------------------
The members of Owenoke Offshore Technology Fund, Ltd received, on
March 15, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

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


PANTON ALTERNATIVE: Shareholder Receives Wind-Up Report
-------------------------------------------------------
The shareholder of Panton Alternative Fund, Ltd. received, on
March 15, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Jonathan McLean
         Telephone: (345) 949 9876
         Facsimile: (345) 949 1986


PENTAGRAM OFFSHORE: Creditors' Proofs of Debt Due on May 12
-----------------------------------------------------------
The creditors of Pentagram Offshore Fund, Ltd are required to file
their proofs of debt by May 12, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on March 23, 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


PEVANI LDC: Members Receive Wind-Up Report
------------------------------------------
The members of Pevani LDC received, on March 16, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Simon W. Baker
         Citadel Administration S.A.
         15-17, Avenue Gaston Diderich
         L-1420 Luxembourg
         Grand Duchy of Luxembourg


PICO FUND: Shareholder Receives Wind-Up Report
----------------------------------------------
The shareholder of Pico Fund Limited received on, March 10, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Wilton McDonald
         Telephone: (345) 914-4620
         Facsimile: (345) 815-0570


QNI CAPITAL: Members Receive Wind-Up Report
-------------------------------------------
The members of QNI Capital Limited received on, March 18, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


QONWAY INVESTMENTS: Shareholders Receive Wind-Up Report
-------------------------------------------------------
The shareholders of Qonway Investments Ltd received on, March 19,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4
--------------------------------------------------------
The creditors of Salamanca Cayman 2 are required to file their
proofs of debt by May 4, 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:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814 7366
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4
--------------------------------------------------------
The creditors of Salamanca Cayman 1 are required to file their
proofs of debt by May 4, 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:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814 7366
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


SALAMANCA CAYMAN: Creditors' Proofs of Debt Due on May 4
--------------------------------------------------------
The creditors of Salamanca Cayman 3 are required to file their
proofs of debt by May 4, 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:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814 7366
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


SLC CORP: Commences Liquidation Proceedings
-------------------------------------------
SLC Corp. commenced liquidation proceedings on February 5, 2010.

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

The company's liquidator is:

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


SLC CORP: Members Receive Wind-Up Report
----------------------------------------
The members of SLC Corp. received on, March 19, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


SO SPECIAL: Shareholders Receive Wind-Up Report
-----------------------------------------------
The shareholders of So Special Purpose Fund I Ltd (Cayman)
received, on February 24, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Christopher P. Meyering
         Sciens Hedge Fund Management LLC
         667 Madison Avenue
         New York, NY 10065 USA


SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report
---------------------------------------------------------
The shareholder of Southport Millennium Master Fund, Ltd.
received, on March 15, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Jennifer Parsons
         Telephone: (345) 815 1820
         Facsimile: (345) 949 1986


SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report
---------------------------------------------------------
The shareholder of Southport Millennium Offshore Fund, Inc.
received, on March 15, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Jennifer Parsons
         Telephone: (345) 815 1820
         Facsimile: (345) 949 1986


SOUTHPORT MILLENNIUM: Shareholder Receives Wind-Up Report
---------------------------------------------------------
The shareholder of Southport Millennium Twenty Offshore Fund, Ltd.
received, on March 15, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Jennifer Parsons
         Telephone: (345) 815 1820
         Facsimile: (345) 949 1986


SPI INVESTMENTS: Member Receives Wind-Up Report
-----------------------------------------------
The member of SPI Investments Ltd. received, on March 16, 2010,
the liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

         Philip Walter
         Bernard McGrath
         David Walker
         c/o PO Box 1043, Grand Cayman KY1-1102
         Cayman Islands
         Telephone: 949-0050
         Facsimile: 949-8062


STRATTON STREET: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Stratton Street Capital Liquidfunds Inc.
received, on March 19, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


TRIAN SPV: Shareholders Receive Wind-Up Report
----------------------------------------------
The shareholders of Trian SPV II, Ltd. received, on March 19,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


TRIAN SPV: Shareholders Receive Wind-Up Report
----------------------------------------------
The shareholders of Trian SPV III, Ltd. received, on March 19,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


UBS US: Shareholders Receive Wind-Up Report
-------------------------------------------
The shareholders of UBS U.S. Equity Alpha Fund Ltd. received, on
March 11, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

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



VALE LIMITED: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of Vale Limited received on, March 15, 2010, the
liquidator's report on the company's wind-up proceedings and
property disposal.

JS Spratt is the company's liquidator.


VONTOBEL ABSOLUTE: Shareholders Receive Wind-Up Report
------------------------------------------------------
The shareholders of Vontobel Absolute Return Fund Ltd. received,
on March 19, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


WILLOW CREEK: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of Willow Creek Offshore Fund received on,
March 19, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


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


EDELNOR: Chile fund in US$450 Million Peru Energy Deal
------------------------------------------------------
Chilean investment fund Americas Energy Fund I won an eight-year
contract to supply energy to electricity distributor Empresa
Electrica Del Norte Grande S.A. in Peru in an operation worth
US$450 million, Antonio de la Jara at Reuters reports.

According to the report, the fund, administered by SCL Energia and
financial group LarrainVial, won the 180-megawatt contract via its
local unit Termochilca with Edelnor.  The report relates that
Termochilca, a thermal plant project that requires US$250 million
in total investment, is expected to start supplying energy to
Edelnor in 2014.

"The project (Termochilca) already has environmental approval and
recently signed a gas supply contract with the Camisea
consortium," the report quoted LarrainVial as saying.

                         About Edelnor

Heaquartered in Chile, Empresa Electrica Del Norte Grande S.A.
(aka Edelnor) -- http://www.edelnor.cl/-- is principally
engaged in the generation, transportation, distribution and
supply of electricity.  Edelnor is also engaged in the purchase,
transportation and sale of all types of fuel: liquid, solid and
gaseous.  The company offers advising services in engineering
and management, as well as maintenance and repair of electronic
systems.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 17, 2009, Standard & Poor's Ratings Services revised its
CreditWatch implications on Edelnor's 'BB-' ratings to developing
from positive.  The CreditWatch listing follows the company's
recent announcements that the main shareholders, Suez-Tractebel
and Codelco (A/Stable/--), agreed to merge their stakes in several
assets in Chilean electricity generation and gas transportation
sectors.


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


ECOPETROL SA: To Host Q1 Earnings Release & Webcast on April 27
---------------------------------------------------------------
Ecopetrol S.A will release its first quarter 2010 results on
Monday, April 26, 2010.  The earnings release will be available on
the Company's Web site: http://www.ecopetrol.com.co/

On Tuesday, April 27, Ecopetrol's senior management will host two
webcasts to review the performance in the first quarter 2010:

    In Spanish                                In English
    April 27, 2010                            April 27, 2010
    10:30 a.m. Bogota                         12:00 p.m. Bogota
    11:30 a.m. ET                             1:00 p.m. ET

The webcast will be available on Ecopetrol's Web site:
http://www.ecopetrol.com.co/and at the following links:

(English)
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-
eventDetails&c=218606&eventID=3007443

(Spanish)
http://phx.corporate-ir.net/phoenix.zhtml?p=irol-
eventDetails&c=218606&eventID=3007458

Please access the site 10 minutes in advance to download any
necessary software.  The webcast archive will be available for one
year following the live event.

                      About Ecopetrol S.A.

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

                           *     *     *

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

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

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

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


LA CORTEZ ENERGY: Independent Auditors Raise Coing Concern Doubt
----------------------------------------------------------------
La Cortez Energy, Inc., filed on April 16, 2010, its annual report
on Form 10-K for the year ended December 31, 2009.

The Company's independent auditors expressed substantial doubt
about the Company's ability to continue as a going concern.  The
accounting firm noted that the Company has limited operating
history, no historical profitability, and has limited available
funds.

The Company reported a net loss of US$10,142,386 on oil revenues
of US$189,835 for 2009, compared to a net loss of $2,580,529 on
zero revenue for 2008.

The Company's balance sheet as of December 31, 2009, showed
US$7,895,344 in assets and US$10,289,718 of debts, for a
stockholders' deficit of US$2,394,374.

The Company's report does not identify its independent auditor.

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

              http://researcharchives.com/t/s?603e

Headquartered in Bogota, Colombia, La Cortez Energy, Inc. (OTC BB:
LCTZ) -- http://www.lacortezenergy.com/-- is an early stage oil
and gas exploration and production company currently pursuing a
business strategy in the energy sector in South America, with an
initial focus on identifying oil and gas exploration and
production opportunities in Colombia. To that end, the Company has
established a branch, La Cortez Energy Colombia, Inc., with
offices in Bogot , Colombia, and recently signed a Joint Operating
Agreement for a 50% working interest in the Putumayo-4 block and a
farm-in agreement for a 20% working interest in the Maranta block,
both in Colombia.


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


* COSTA RICA: Economic Recovery is Firmly Underway
--------------------------------------------------
A staff team from the International Monetary Fund visited Costa
Rica during April 7 to 13, 2010, to conduct the third and final
review of the Stand-By Arrangement approved in April 2009.  The
mission met with Finance Minister Jenny Phillips, Central Bank
Governor Francisco de Paula Gutierrez, other senior officials, and
representatives of the financial sector.

After the conclusion of the discussions, Mr. Marco Pinon, the IMF
mission chief for Costa Rica, made the following statement:

"The economic recovery in Costa Rica is firmly underway. Economic
growth rose in the second half of 2009 and remained strong in the
first quarter of 2010.  Consumer and business sentiment have
firmed up and financial conditions have continued to improve.
Adjustments in administered prices have pushed inflation to 5.8%
in March, compared to 4% at end-2009, but underlying inflation has
remained stable close to 4%.  Overall, the rebound in activity has
been stronger than originally anticipated.

"The economic outlook has also improved since the previous review
in December 2009.  The projection for output growth in 2010 has
been revised to 3.8% (1.5 percentage points higher than before).
Inflation is expected to be close to the upper end of the central
bank's target band of 4-6% in 2010.

"Performance under the precautionary SBA with the Fund has
continued to be very strong, as the authorities met all
quantitative performance criteria for end-December 2009 and
preliminary data suggest that the end-March targets were also met.

"Overall, the authorities' policy response to the crisis,
supported by Fund's SBA, has proved effective.  The government's
strategy to shield the economy from external shocks with external
resources, which in the event were not used, helped preserve
confidence, maintain stability, and protect the most vulnerable
groups.  A supportive fiscal policy has provided a boost to the
recovery and a cautious monetary policy has allowed inflation to
move to low levels.

"The mission expects that the IMF Executive Board will consider
the third and final review of the SBA in late-May 2010.  The
authorities have indicated that they will continue to treat the
SBA as precautionary."


=========
H A I T I
=========


* HAITI: IDB Provides US$100 Million Financial Mechanism
--------------------------------------------------------
The Board of Executive Directors of the Inter-American Development
Bank approved an Account for the Administration of Donor Resources
for Haiti, which may receive contributions totaling up to US$100
million from the countries in the Union of South American Nations.

UNASUR includes Argentina, Bolivia, Brazil, Chile, Colombia,
Ecuador, Guyana, Paraguay, Peru, Surinam, Uruguay and Venezuela.

The account, which will be administered by the IDB, will provide
budgetary support upon request of the Haitian government.

This initiative is part of UNASUR's commitment to support Haiti's
reconstruction after the January 12 earthquake and is within the
framework of comprehensive support for Haiti the IDB is mobilizing
with the international community.


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


AIR JAMAICA: Gets Waiver to Fly to the United States
----------------------------------------------------
The United States Department of Transportation has granted a
temporary waiver for Air Jamaica Limited to continue flying to the
U.S. after the transitional arrangement with Caribbean Airlines
Limited takes place, RadioJamaica reports.

Transport Minister Mike Henry said that the deal is for 60 days
from April 15, though the government had wished for a longer
agreement.  "Under the bilateral 'Open Skies (Agreement)', we
requested 60 days.  We asked if they could make it 90 days as this
is the normal period under these bi-laterals," the report quoted
Mr. Henry as saying.

According to the report, under the air services agreement between
Jamaica and the U.S. majority control of Air Jamaica would have to
be in Jamaican hands for the airline to continue operating.  The
report relates that the waiver was granted without opposition from
other U.S.-bound carriers from Jamaica and Trinidad and Tobago.

A more permanent solution is now being sought beyond the June 15
expiration of the waiver that was granted to Air Jamaica, the
report adds.

                         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: New Wage Deal Signed for Sugar Workers
-------------------------------------------------
Sugar producers were relieved as the threat of strike action by
nearly 15,000 workers employed to the sector has been averted,
RadioJamaica reports.

According to the report, a new wage deal was agreed by
representatives of the Sugar Producers Federation and trade
unions.  The report relates that the unions had warned that
workers employed to state-run and privately owned sugar estates
would have taken strike action on Friday if a settlement was not
reached.

"For the first year wages will be increased by 5%, in the second
year it will increase by a further 6%.  Clothing allowance has
moved to JM$2,345 per annum in the first year and JM$2,486 in the
second year.  There is also an increase in overtime a shift
premiums," the report quoted President of the National Workers
Union, Vincent Morrison, as saying.  The report notes that other
improvements include increased insurance coverage for the workers.

                           *     *     *

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
===========


CONTROLADORA COMMERCIAL: Reaches Deal With 85% of Creditors
-----------------------------------------------------------
Controladora Comercial Mexicana SAB de CV (Comerci) has reached a
financial restructuring agreement with approximately 85% of its
creditors, including those held with derivative transactions,
holders of foreign bonds, commercial banks (bottomer) and holders
of stock certificates (cebures), Jesus Ugart at El Semanaria
reports, citing company lawyer Salvador Rocha Diaz.  The report
relates Mr. Diaz revealed that in the next few days the company
will be signing contracts with creditors compliant (Luck ups),
including warranties.

As reported in the Troubled Company Reporter-Latin America on
September 17, 2009, Bloomberg News said that Comerci proposed to
its creditors the issuance of more than MXN19 billion (US$1.4
billion) in new borrowing as part of a restructuring.  The new
debt would be denominated in U.S. dollars and Mexican pesos and
include some convertible bonds and "penny warrants," the company
said in an e-mailed statement obtained by the news agency.
Reuters related that Comerci defaulted in October after massive
derivatives losses sent its debt soaring above US$2 billion.  On
October 9, 2008, Comerci filed for protection under Mexico's
bankruptcy code Ley de Concurso Mercantil.

                          About Comerci

Controladora Comercial Mexicana SAB de CV a.k.a Comerci
(MXK:COMERCIUBC) -- http://www.comerci.com.mx/-- is a Mexican
holding company that, through its subsidiaries, operates several
chains of retail stores, as well as a chain of family restaurants
under the Restaurantes California brand name.  In addition, CCM
owns a 50% interest in the Costco de Mexico, a joint venture with
Costco Wholesale Corporation, which operates a chain of membership
warehouses in Mexico.  The company's store chains include
Comercial Mexicana, City Market, Mega, Bodega CM, Sumesa and
Alprecio, among others.  As of December 31, 2007, CCM operated 214
commercial units and 71 restaurants across Mexico.  The company's
retail outlets sell a variety of food items, including basic
groceries and perishables, and non-food items, which include
electronics, home furnishings, personal hygiene products and
clothing.  CCM is a parent of Tiendas Comercial Mexicana SA de CV,
Tiendas Sumesa SA de CV, Restaurantes California SA de CV and
Costco de Mexico SA de CV, among others.

                           *     *     *

As of June 19, 2009, the company continues to carry Moody's "D" LT
Issuer Credit ratings.  The company also continues to carry Fitch
Ratings' "D" LT Issuer Default ratings.


===========
P A N A M A
===========


MULTIBANK INC: Fitch Upgrades Issuer Default Ratings to 'BB'
------------------------------------------------------------
Fitch Ratings has upgraded Multibank's ratings:

  -- Foreign Currency Long-Term Issuer Default Rating to
     'BB' from 'BB-';

  -- Long-Term National Rating to 'A+(Pan)' from 'A(Pan)'.

Fitch also affirms these ratings for MB:

  -- Foreign Currency Short-Term IDR at 'B';
  -- Short-Term National Rating at 'F1(Pan)';
  -- Individual Rating at 'C/D';
  -- Support Rating at '5';
  -- Support Floor at 'NF'.

The Rating Outlook is Stable.

Fitch's upgrade of MB's IDRs follows several years of steady and
positive performance that culminated with the bank improving its
profitability while maintaining sound asset quality through the
economic crisis.  Multibank doubled in size and achieved higher
market share while positioning itself as a well managed medium
sized bank in a very competitive market.  A deeper, more expert
and focused management team drove the bank to diversify its
revenue sources and customer base, reduce concentration on both
sides of the balance sheet and expand abroad in an orderly manner.
As the bank expanded its footprint, risk management processes and
tools were improved and have proven to be effective at the height
of the crisis.  Multibank appears to be adequately positioned to
compete as Panama resumes economic growth.

MB's ratings reflect its sound capital base, high liquidity, still
good asset quality, improved revenue diversification, sustained
performance, clear strategy and strengthened management team.
They also factor in its small size, high cost structure,
vulnerable non-interest revenues and loan portfolio concentration.

A long-standing dollarized economy, Panama lacks a central bank;
hence, banks do not have a lender of last resort.  Banco Nacional
de Panama, the country's largest state controlled bank, could only
provide temporary liquidity loans, if needed.  In Fitch's opinion,
external support for MB, although possible, can not be relied
upon.

Key Rating Drivers:

MB's ratings would benefit from better cross-selling, better loan
diversification, a wider deposit base, stronger cost controls and
improved efficiency.  The bank's ratings could be pressured
downward if the credit portfolio quality deteriorates or
performance declines resulting in lower profitability and weaker
capital levels.

MB's performance during 2009 was driven by a moderate loan
portfolio growth that coupled with resilient margins and improved
investment performance resulted in higher operating revenues in
spite of the greater weight and cost of liquid assets.  Operating
expenses increased reflecting the bank's expansion, but MB was
able to sustain a sound asset quality and contain credit cost.
Thus, net income increased resulting in an improved profitability
-- that exceeded the industry average - as ROAA increased to 1.6%
and ROAE increased to 22.90% as of December 2009.

MB's long-term strategy has provided clear goals, stability and
helped the bank cope with the crisis.  The bank tamed growth,
performed effective remedial management, tightened credit criteria
and improved collections.  But commercial goals were not totally
abandoned, and MB achieved portfolio growth while maintaining a
good asset quality.  Deposits grew and remain the main source of
funding, albeit at a relatively higher cost.  Capital also
improved, mainly through the issuance of preferred shares that
allowed the bank to maintain a comfortable capital cushion which
should be seen along with its adequate reserves.

Loan growth into 2010 should be stronger albeit not reaching the
record levels of 2007 and 2008.  Margins are expected to gradually
come under pressure given the ample liquidity and prevailing high
levels of competition.  Due to MB's continued expansion, Fitch
expects further increases in operating expenses in 2010 that may
limit their profits.  On the other hand, credit cost should
gradually stabilize given the positive economic prospects.
Overall profitability is expected to remain stable during 2010 and
show improvement in 2011.

After a wave of mergers and acquisitions, MB is the 10th largest
Panamanian bank with a market share of about 2.3% of assets at
December 2009 in a market dominated by big players.  MB has
undergone a significant and successful corporate re-structuring to
become a universal bank.  MB is controlled by a well regarded
local family.


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


DOE RUN PERU: Union Seeks Gov't Intervention to Restart Unit
------------------------------------------------------------
The head of national mining, metals and steelworkers federation
FNTMMSP, Luis Castillo, called on Peru's government to intervene
to help restart operations at Doe Run Peru's polymetallic smelter
in La Oroya, Business News Americas reports.  "We are worried and
I think the company is unable to fix their problem.  In any case,
we would like the government to come in and take over this
situation," Mr. Castillo told BNamericas in an interview.

According to the report, Mr. Castillo was responding to reports
that Doe Run will delay restarting operations at the smelter.  The
report relates Mr. Castillo said that he was planning to meet with
union representatives from La Oroya to determine their response to
the delay.

Doe Run, the report notes, had planned to resume operations at the
facility on April 29.  However, the report, citing paper El
Comercio, relates general manager Juan Carlos Huyhua said Friday
(Apr 16) the company would push back the restart date until the
end of July.

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.


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


DORAL FINANCIAL: To Raise Up to US$600 Million
----------------------------------------------
Doral Financial Corp. said it will raise up to US$600 million
through a private placement, joining a slew of Puerto Rican firms
chasing regulator-backed deals, Reuters reports.  The report
relates the company said that US$180 million of the total raised
amount will be permanent capital, which will also be used to fund
a Federal Deposit Insurance Corp.-assisted deal.

According to the report, the remaining amount will be held in
escrow, and is contingent upon completing an FDIC-assisted deal.

"We believe Doral is likely targeting R&G Financial Corp., which
represented US$6 billion in assets at the end of 2009," analyst
Brett Scheiner of FBR Capital Markets said in a note obtained by
the news agency.

The report notes that R&G Financial along with at least two other
Puerto Rican banks are under cease and desist orders from
regulators, and there is rising speculation in the market that the
Federal Deposit Insurance Corp. may take over operations.

Doral Financial, the report says, will issue 126 million common
shares if the full $600 million is raised.  The report relates
Doral Financial said that the securities to be issued are a
combination of common stock and non-voting, mandatorily
convertible preferred stock.  Barclays Capital acted as exclusive
placement agent on behalf of the company, Doral Financial added.


                       About Doral Financial

Based in New York City, Doral Financial Corp. (NYSE: DRL)
-- http://www.doralfinancial.com/-- is a diversified financial
services company engaged in mortgage banking, banking,
investment banking activities, institutional securities and
insurance agency operations.  Its activities are principally
conducted in Puerto Rico and in the New York City metropolitan
area.

Doral is the parent company of Doral Bank, a Puerto Rico
based commercial bank; Doral Securities, a Puerto Rico based
investment banking and institutional brokerage firm; Doral
Insurance Agency Inc. and Doral Bank FSB, a federal savings bank
based in New York City.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
September 11, 2009, Moody's Investors Service downgraded the
senior unsecured rating of Doral Financial Corporation to Caa1
from B2.  Doral Financial Corporation is the immediate holding
company of Doral Bank, Puerto Rico and is a majority-owned
subsidiary of Doral Holdings, LLC.  Doral Bank, Puerto Rico is
unrated.  In the same rating action, the outlook on Doral
Financial Corporation was changed to negative from stable.  Doral
Financial Corporation is referred to hereafter as 'Doral'.


=============
U R U G U A Y
=============


CITIBANK NA: S&P Affirms 'BB-/B' Counterparty Credit Ratings
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings, including the 'BB-/B' counterparty credit ratings, on
Citibank N.A. (Uruguay Branch).  The outlook is stable.

Standard & Poor's ratings on Citibank Uruguay are support by its
status as a branch of Citibank N.A. New York, NY (A+/Negative/A-1)
but also considers the risk of sovereign intervention by the
Oriental Republic of Uruguay (BB-/Stable/B).

"S&P assume that, absent direct intervention by the government,
the parent company would ensure full and timely payment of the
Uruguayan branch's obligations," said Standard & Poor's credit
analyst Delfina Cavanagh.  "Nonetheless, S&P's ratings on Citibank
Uruguay are also constrained by its sovereign credit ratings on
the country, reflecting sovereign intervention risk."

S&P's national scale ratings on the bank exclude that risk and
reflect its position relative to other financial institutions.

Citibank Uruguay follows the same policies and procedures as
Citigroup Inc. (A/Negative/A-1) worldwide, mainly in the risk
management, credit, and treasury areas.  Also, as part of
Citigroup's world network, the bank benefits from high financial
flexibility and constant support for its business and product
development.


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


PETROLEOS DE VENEZUELA: China to Invest US16.3BB in Junin 4
-----------------------------------------------------------
Venezuela and China will set up a joint venture to develop the
Junin 4 oil block, at the Orinoco Oil Belt, El Universal News
reports.  The report relates Petroleos de Venezuela said that the
countries plan to invest US$16.3 billion in the project.

According to the report, the joint venture, in which Pdvsa will
own 60% of the shares whereas the China state-owned oil company
China National Petroleum Corp. the remaining 40%, will have an
annual production of 400,000 barrels per day (bpd).  The report,
citing Reuters, relates that it will also build an upgrader to
process heavy crude into lighter products for export.

"The development plan for this joint venture will last for 25
years.  We expect a first production of 50,000 barrels per day by
2012, to gradually rise to 400,000 bpd by 2016," PDVSA said in a
statement obtained by the news agency.

                           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: JVs at Carabobo Oil Field Established
-------------------------------------------------------------
Lawmakers established joint ventures between Petroleos de
Venezuela and two consortia of foreign companies to develop the
Carabobo fields in Venezuela's heavy crude belt, Frank Jack Daniel
at Reuters reports.

According to the report, the first joint venture established by
the national assembly gives PDVSA a 60% share of the project, with
40% divided between Repsol, Indoil and Petronas.  The report
relates that the second joint venture is also led by PDVSA with
60% of the shares, with Chevron) splitting the remaining 40% with
Japan's Inpex, Mitsibushi and Venezuela's Suelopetrol.

The auction, the report notes, consisted of three projects with
similar surface areas containing a total of 127.9 billion barrels
of oil in place.  One project was not awarded.

Reuters says that the government believes a total of 25.6 billion
barrels are recoverable, based on a recovery rate of 20%.

The projects are due to begin production between 2012 and 2013,
the report adds.

                           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: Orinoco Petroleum Coke Exports Rise in 1Q
-----------------------------------------------------------------
Joint venture firms in Venezuela's heavy oil-rich Orinoco region
exported 490,000 metric tons of petroleum coke in the first
quarter, a 10% rise from that period last year, Dan Molinski at
Dow Jones Newswires reports, citing Petroleos de Venezuela.

According to the report, PDVSA said that the coke, a solid that
comes from oil refinery coker units and other cracking processes,
has been shipped to various countries including Malaysia, the
Netherlands, Greece, Turkey and Brazil.  The rising coke shipments
are evidence that the solids terminal of the Jose Antonio
Anzoategui Industrial Complex is operating smoothly, PDVSA added.

Dow Jones Newswires says that the joint venture firms involved in
exporting the petroleum coke from the Orinoco region include
Petrocedeno, comprised of PDVSA, Total S.A. and Statoil, as well
as Petropiar, made up of PDVSA and Chevron, and Petromonagas,
which includes PDVSA and BP PLC.

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


* LATAM: IDB to Expand Lending for Renewable Energy Projects
------------------------------------------------------------
The Inter-American Development Bank intends to increase its
financing for renewable energy and climate-related projects to
US$3 billion a year by 2012.

IDB President Luis Alberto Moreno said that IDB faces a surging
demand for support from Latin American and Caribbean countries
interested in developing their renewable energy resources and in
combating the effects of climate change.  IDB lending for energy-
related projects is likely to reach US$1.5 billion this year, up
from $457million approved in 2008.

"Last month, as many of you know, our Board of Governors approved
in principle a record general capital increase for the IDB of $70
billion.  As a result, when this process is concluded, the Bank
will have the capacity to double its clean and sustainable energy
lending again, to approximately US$3 billion a year, by 2012.  And
I am pleased to announce today that this is our intention," Moreno
said.

The expanded lending will allow the IDB to focus on four broad
areas: stepping up renewable energy investments in its poorest
member countries; fostering energy integration throughout Latin
America and the Caribbean; promoting energy efficiency measures
across the region and helping governments establish climate change
mitigation and adaptation frameworks.

As an example of the sort of projects the IDB intends to pursue,
Moreno said the Bank would propose to the Haitian government the
development of a new energy infrastructure to harness Haiti's
wind, solar and hydroelectric potential.  Such an initiative could
cost as much as US$1 billion, but would help the poorest country
in the Western Hemisphere save hundreds of millions of dollars a
year in fossil fuel imports.

"Of course, US$1 billion is a lot of money. And many technical and
regulatory obstacles would have to be overcome.  But imagine what
it would mean to Haiti to reduce its burden from fuel imports.
Furthermore, this would prove that renewable energy isn't a
luxury, but rather a smart way of unleashing human potential in
even the most difficult of settings," Moreno said.

In addition, Moreno said the IDB is teaming up with the U.S.
Department of Energy and other agencies inside and outside the
region to establish the Energy Partnership for the Americas
Innovation Center, which will be staffed by some of the world's
leading experts in renewable energy and energy efficiency.  The
center will serve as a clearing house for knowledge and an
incubator for energy projects backed by governments and private
sector investors.

"Dozens of countries from across the Americas have come together
today to promote a clean energy for the future of our hemisphere,"
said Secretary Chu.  "By expanding our cooperation and
collaboration on key energy and climate issues we will lay a
foundation for broad-based economic growth while helping to
protect our environment,"

During the ministerial meeting, which will continue on Friday at
the headquarters of the Organization of the American States,
delegates will discuss concrete proposals to find new sources of
renewable energy, lower energy consumption and reduce carbon
dioxide emissions.

                            About IDB

Founded in 1959, the IDB is the world's largest and oldest
regional development bank.  In March its 48 member countries
agreed in principle to increase its capital resources to boost its
lending capacity to US$12 billion a year, nearly double its
present sustainable level.  The United States is the single
biggest shareholder, with a 30% stake in the IDB's capital.
Collectively, Latin American and Caribbean borrowing member
countries own a controlling majority of shares.


                            ***********

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 * * *