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

              Thursday, June 24, 2010, Vol. 11, No. 123

                            Headlines



A R G E N T I N A

AUTOPISTAS DEL SOL: Extends Debt Swap Again as Most Creditors Balk
EMPRESA ATLANTICA: Creditors' Proofs of Debt Due on August 23
EXPOMAPICA SA: Creditors' Proofs of Debt Due on August 18
FRANZO SRL: Requests for Preventive Contest
HORMACO SA: Creditors' Proofs of Debt Due on August 20

VIAL CINCO: Creditors' Proofs of Debt Due on September 6


B E R M U D A

FREMONT REINSURANCE: Contributories' Proofs of Debt Due on Aug. 17
FREMONT REINSURANCE: Contributories to Meet on August 17


B R A Z I L

BANCO DAYCOVAL: Obtains US$165 Million Through Syndicate Loan
BANCO CRUZEIRO: Revives Corporate Borrowing on Foreign Markets
COSAN SA: Inks Deal With Amyris to Produce Renewable Chemicals
ELETROPAULO METROPOLITANA: Raised to 'Buy' at BTG Pactual
GENERAL MOTORS: To Create New Regional Organization in Brazil

GERDAU AMERISTEEL: Parent's Board OKs Buyout of Remaining Stake
GERDAU SA: Unit Seeks Hierro Peru Iron-Ore Supply
GERDAU SA: Board OKs Buying Remaining Gerdau Ameristeel Stake


C A Y M A N  I S L A N D S

ASTRAL RIDGE: Creditors' Proofs of Debt Due on July 21
BAYWATER HOLDINGS: Creditors' Proofs of Debt Due on July 21
BLUE LINE: Creditors' Proofs of Debt Due on July 21
CEMS INC: Creditors' Proofs of Debt Due on July 21
EQUATOR VIEW: Creditors' Proofs of Debt Due on July 21

FYFE PARTNERS: Creditors' Proofs of Debt Due on July 21
HARBOR BRIDGE: Creditors' Proofs of Debt Due on July 21
IMAGE IAM: Creditors' Proofs of Debt Due on July 21
JADE STREET: Creditors' Proofs of Debt Due on July 21
MIRAGE IAM: Creditors' Proofs of Debt Due on July 21

NEWTON IAM: Creditors' Proofs of Debt Due on July 21
PARK VALLEY: Creditors' Proofs of Debt Due on July 21
PICO FUND: Creditors' Proofs of Debt Due on July 16
RONDO FUND: Creditors' Proofs of Debt Due on July 21
SANGEN FUND: Creditors' Proofs of Debt Due on July 21

SOLAR TREE: Creditors' Proofs of Debt Due on July 21
THIRD POINT: Creditors' Proofs of Debt Due on July 21
TORANOMON COURT: Creditors' Proofs of Debt Due on July 21
VICTORIA VIEW: Creditors' Proofs of Debt Due on July 21
WAVE IAM: Creditors' Proofs of Debt Due on July 21


C O L O M B I A

ECOPETROL SA: Offers Highest Bid for 9 Blocks in Colombia Auction
PACIFIC RUBIALES: Gets 6 Blocks in ANH Bidding Process


J A M A I C A

CABLE & WIRLESS: Increases Services Costs


M E X I C O

MAXCOM TELECOMUNICACIONES: S&P Affirms 'B' Corporate Credit Rating


P E R U

DOE RUN PERU: Pledges to Resume Operations Before July 27


P U E R T O  R I C O

AJILI MOJILI: Case Summary & 20 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Chairman Resigns


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                         - - - - -


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


AUTOPISTAS DEL SOL: Extends Debt Swap Again as Most Creditors Balk
------------------------------------------------------------------
Autopistas del Sol S.A. (Ausol) has again extended the closing
date for a restructuring offer to July 16, 2010, from June 17,
2010, as many creditors continue to turn up their noses at the
deal, Shane Romig at Dow Jones Newswires reports.  The report
relates that the offer was first made in January, and has been
extended several times.

According to the report, so far, only 42% of the company's
bondholders, representing almost US$130 million, have accepted the
proposal, virtually unchanged from the acceptance rate seen last
month.  The report says that Ausol is trying to get at least two-
thirds of its bondholders to sign onto the restructuring proposal,
which it hopes will allow the company to trim its liabilities and
avoid bankruptcy.

Dow Jones Newswires notes that the company reported a ARS164
million (US$42 million) loss in 2009, even wider than the ARS142
million loss it posted in 2008.  The report relates that Ausol
failed to make a US$9 million interest payment Nov. 23, 2010,
resulting to a default on its US$307 million debt and leading the
government to step in to audit and monitor the company's debt
restructuring.

Ausol suffered last year due to lower traffic levels, increasing
operational costs and a devaluation of the peso, the report adds.

                     About Autopistas del Sol

Autopistas del Sol S.A. operates and maintains motorways in
Argentina.  The company runs part of the Pan-American highway as
toll concession.

                           *     *     *

As of June 23, 2010, the company continues to carry Standard and
Poor's "D" LT foreign issuer credit rating.  The company also
continues to carry S&P National's "D" National LT issuer credit
rating.


EMPRESA ATLANTICA: Creditors' Proofs of Debt Due on August 23
-------------------------------------------------------------
Juan Jose Romanelli, the court-appointed trustee for Empresa
Atlantica de Tecnologia SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until August 23, 2010.

Mr. Romanelli will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk
No. 17, 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:

         Juan Jose Romanelli
         Gandara 2700
         Argentina


EXPOMAPICA SA: Creditors' Proofs of Debt Due on August 18
---------------------------------------------------------
Pablo Daniel Exposito, the court-appointed trustee for Expomapica
SA's bankruptcy proceedings, will be verifying creditors' proofs
of claim until August 18, 2010.

Mr. Exposito will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 23 in Buenos Aires, with the assistance of Clerk
No. 45, 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 Daniel Exposito
         avenida Cordoba 859
         Argentina


FRANZO SRL: Requests for Preventive Contest
-------------------------------------------
Franzo SRL requested for preventive contest.

The company stopped making payments last June 9, 2010.


HORMACO SA: Creditors' Proofs of Debt Due on August 20
------------------------------------------------------
Nayla Graciela Perez, the court-appointed trustee for Hormaco SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until August 20, 2010.

Mr. Perez will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 3 in
Buenos Aires, with the assistance of Clerk No. 5, 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:

         Nayla Graciela Perez
         Cachimayo 130
         Argentina


VIAL CINCO: Creditors' Proofs of Debt Due on September 6
--------------------------------------------------------
Eduardo Rotger, the court-appointed trustee for Vial Cinco SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until September 6, 2010.

Mr. Rotger will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk No.
10, will determine if the verified claims are admissible, taking
into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Eduardo Rotger
         Cerrito 1169
         Argentina


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



FREMONT REINSURANCE: Contributories' Proofs of Debt Due on Aug. 17
------------------------------------------------------------------
The contributories of Fremont Reinsurance Co. Limited are required
to file their proofs of debt by August 17, 2010, to be included in
the company's dividend distribution.


FREMONT REINSURANCE: Contributories to Meet on August 17
--------------------------------------------------------
The contributories of Fremont Reinsurance Co. Limited will hold
their meeting on August 17, 2010, at 2:30 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.


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


BANCO DAYCOVAL: Obtains US$165 Million Through Syndicate Loan
-------------------------------------------------------------
Banco Daycoval SA obtained a total of US$165 million through a
syndicate loan, Rogerio Jelmayer at Dow Jones Newswires reports,
citing a statement.

According to the report, the bank said it will use the proceeds to
provide credit for local small and medium companies.

The report relates that the syndicate loan, which was organized by
International Financial Corp., was obtained via eleven banks:

   -- Itau Europa,
   -- Standard Bank,
   -- HSBC,
   -- Calyon,
   -- Citibank,
   -- Oberbank,
   -- Banco Santander,
   -- Standard Chartered,
   -- WestLB,
   -- Commerzbank. and
   -- ING.

Headquartered in Sao Paulo, Brazil, Banco Daycoval SA started its
activities in 1968, with the creation of Daycoval DTVM and Valco
Corretora de Valores.  Brothers Ibrahim and Sasson Dayan control
the bank.  It is the core business of its shareholders and
specializes in financing small and medium-sized companies, backed
by receivables.  It also operates with consignment lending for
payroll deduction and consumer financing.  Since June 2007, the
bank has had 29% of its shares traded at Bovespa on the New
Brazilian Stock Market.  These shares enjoy a tag-along privilege,
giving minority shareholders 100% of the value of the block of
controlling shares in the event of the sale of the institution.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 15, 2010, Fitch Ratings assigned a final 'BB' Foreign
Currency Long-Term Rating to US$300 million of senior notes of
Banco Daycoval S.A., with interest payable semi annually and
principal due at maturity in March 2015.


BANCO CRUZEIRO: Revives Corporate Borrowing on Foreign Markets
--------------------------------------------------------------
Veronica Navarro Espinosa and Alexander Cuadros at Bloomberg News
report that Banco Cruzeiro do Sul SA is leading Brazilian
companies back to international bond markets after a two-month
drought even as its borrowing costs rise.

According to the report, the bank plans to sell three-year bonds
as early as the first week of July after scrapping a proposed
10-year note offering last month.  The bank may offer the bonds at
a yield of 7% to 7.25%, or about 6 percentage points above
similar-maturity U.S. Treasuries, Fausto Guimaraes Neto, the
bank's investor relations manager, said in an e-mailed statement
obtained by the news agency.

The report notes JPMorgan Chase & Co said that Banco Cruzeiro
shelved an offering on May 7, 2010, after the yield difference on
Brazilian corporate dollar bonds over Treasuries widened 72 basis
points, or 0.72 percentage point, in a week.  While that
difference narrowed in the past month, Banco Cruzeiro's costs are
still up over the past two months, the report relates.

Mr. Neto, the report notes, said that the bank shortened the
maturity on its offering because "market conditions are more
favorable" than for 10-year debt.  "However, we'll continue to
monitor the market for the possibility to issue longer-term bonds
in the near future," the report quoted Mr. Neto as saying.

Bloomberg News discloses Ceres Lisboa, a Brazilian bank analyst
with Moody's Investors Service in Sao Paulo, said that Banco
Cruzeiro will likely be followed by more Brazilian companies as
demand builds for higher-yielding debt after concern eased that
Europe's fiscal crisis will curb the global economic recovery.

Mr. Neto, the report adds, said that while international costs for
Banco Cruzeiro are "a bit higher" because of exchange-rate
hedging, the bank "sees the international capital market as a
constant source of funding."  "What changed were the market
conditions, which are more positive than they were when we
canceled," he added, the report relates.

                 About Banco Cruzeiro do Sul

Headquartered in Sao Paulo, Brazil, Banco Cruzeiro do Sul SA
(Bovespa - CZRS4) -- http://www.bcsul.com.br/-- is a private-
sector multiple bank with operations in the consumer segment,
through paycheck-deductible loans to public employees and social
security beneficiaries, and in the corporate segment, offering
middle-market companies short-term loans usually backed by
receivables.  The bank's core business is lending to civil
servants, with payments automatically deducted from payrolls.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
February 24, 2010, Moody's Investors Service assigned a Ba2 long-
term foreign currency debt rating to the US$250 million senior
unsecured notes issued by Banco Cruzeiro do Sul S.A.  The notes,
due in February 2015, were issued under the bank's existing US$1
billion Global Medium Term Note Program.  The outlook on the
rating is negative.


COSAN SA: Inks Deal With Amyris to Produce Renewable Chemicals
--------------------------------------------------------------
Amyris, Inc., and Cosan S.A. Industria e Comercio have executed
term sheets to establish a joint venture for the worldwide
development, production and commercialization of renewable
intermediate chemicals for specific industrial and automotive
applications.

"We will be working with Cosan on a focused class of products and
expect to benefit greatly from their resources and capabilities,"
according to Amyris.  Amyris's synthetic biology platform enables
the production of a wide variety of renewable products from
sugarcane.  Cosan has established product development,
manufacturing and marketing capabilities.  Under the joint
venture, the parties will jointly commercialize the target
products throughout the world.  The parties expect to complete a
definitive agreement later this year.

"Cosan SA is the largest mill group in Brazil, and we are pleased
to add this strategic alliance to expand our commercialization
efforts," said John Melo, chief executive officer of Amyris. "We
will be working with Cosan on a focused class of products and
expect to benefit greatly from their resources and capabilities."

"We believe this JV will strengthen Cosan's downstream position in
high value add chemicals," said Marcos Lutz, chief executive
officer of Cosan.  "Amyris's technology can greatly expand the
range and value of products that we can derive from our cane."

                        About Amyris Inc.

Amyris Inc. is building an integrated renewable products company
applying industrial synthetic biology to genetically modify
microorganisms to serve as living factories.  Amyris designs these
microorganisms to produce defined molecules for use as renewable
chemicals and transportation fuels.  Amyris Brasil S.A., a
subsidiary of Amyris, oversees the establishment and expansion of
Amyris's production in Brazil, including SMA Industria Quimica
S.A., its joint venture with Usina Sao Martinho, one of the
largest sugar and ethanol producers in Brazil.  In addition,
Amyris is building fuels distribution capabilities in the United
States through its subsidiary, Amyris Fuels LLC.

                          About Cosan SA

Cosan S.A. Industria e Comercio is a low-cost Brazilian sugar and
ethanol producer with a leading position in the global sugar and
ethanol industry.  Cosan is also the fourth largest fuel
distributor in Brazil.

                          *     *     *

As of June 21, 2010, the company continues to carry Moody's "Ba3"
long term rating, long-term corp family rating, and senior
unsecured debt rating.  The company also continues to carry
Standard and Poor's "BB-" long-term issuer credit ratings.


ELETROPAULO METROPOLITANA: Raised to 'Buy' at BTG Pactual
---------------------------------------------------------
Eric Martin at Bloomberg News reports that Eletropaulo
Metropolitana SA was raised to "buy" from "neutral" at Banco BTG
Pactual SA on June 22, 2010.

According to the report, Banco BTG said that the company is
attractive based on its dividend.

Eletropaulo Metropolitana SA generates, transmits, distributes,
and markets electric power to the city of SA Paulo and surrounding
metropolitan regions.

                           *     *     *

As of March 14, 2010, the company continues to carry Standard and
Poor's "BB+" LT issuer Credit ratings.  The company also continues
to carry Fitch rating's "BB" LT issuer default ratings and senior
unsecured debt ratings.


GENERAL MOTORS: To Create New Regional Organization in Brazil
-------------------------------------------------------------
General Motors is creating a new regional organization to meet
rising customer demand in South America.

GM South America will be headquartered in Sao Paulo, Brazil and
will be led by Jaime Ardila, currently president and general
manager GM Mercosur.  Ardila becomes president, GM South America
and will report to GM Chairman and CEO Ed Whitacre.  As a member
of the Executive Committee and regional president, Ardila becomes
the highest ranking Hispanic in the company.

"Jaime's number one priority will be to ensure the very best for
our customers in this important and growing region," Whitacre
said.

GM South America includes GM's existing sales and manufacturing
operations in Brazil, Argentina, Colombia, Ecuador and Venezuela
as well as sales activities in those countries and Bolivia, Chile,
Paraguay, Peru and Uruguay.  GM South America currently has 29,000
employees.   As part of GM's global product operations
organization, GM South America has product design and engineering
capabilities, which will allow it to continue creating local cars
and trucks that complement GM's global product architectures.  In
the first five months of the year, GM sold 394,000 vehicles in
South America and its market share was 20.2%.

"The GM International Operations team is doing a great job
expanding our global presence," said Whitacre.  "However, with the
rapidly growing markets in Asia, the Middle East and Russia, we
need the GMIO team focused exclusively on those countries that are
critical to our growth."

In related moves, Denise C. Johnson, vice president, Labor
Relations, will become president and managing director, GM do
Brazil, effective July 1, 2010.  She will report to Ardila.

Catherine L. Clegg, GM North America manufacturing manager,
succeeds Johnson as vice president, Labor Relations, effective
July 1, 2010.  She will report to Diana Tremblay, GM vice
president, Manufacturing and Labor Relations.  A successor for
Clegg will be announced in the near future.

"This is an exciting development for our team in South America,"
said Ardila.  "I'm honored to lead the effort in the new South
America region, and even more inspired to collaborate with our
colleagues around the world to bring the best cars and trucks to
our customers in the region."

                      About General Motors

With its global headquarters in Detroit, Michigan, General Motors
Company -- http://www.gm.com/-- is one of the world's largest
automakers.  GM employs 207,000 people in every major region of
the world and does business in some 140 countries.  GM and its
strategic partners produce cars and trucks in 34 countries, and
sell and service these vehicles through the following brands:
Buick, Cadillac, Chevrolet, FAW, GMC, Daewoo, Holden, Opel,
Vauxhall and Wuling. GM's largest national market is the United
States, followed by China, Brazil, Germany, the United Kingdom,
Canada, and Italy.  GM's OnStar subsidiary is the industry leader
in vehicle safety, security and information services.

GM acquired its operations from General Motors Company, n/k/a
Motors Liquidation Company, on July 10, 2009, pursuant to a sale
under Section 363 of the Bankruptcy Code.  Motors Liquidation or
Old GM is the subject of a pending Chapter 11 reorganization case
before the U.S. Bankruptcy Court for the Southern District of New
York.

At March 31, 2010, GM had US$136.021 billion in total assets,
total liabilities of US$105.970 billion and preferred stock of
US$6.998 billion, and non-controlling interests of US$814 million,
resulting in total equity of US$23.053 billion.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection on June 1, 2009 (Bankr. S.D.N.Y. Lead Case
No. 09-50026).  General Motors changed its name to Motors
Liquidation Co. following the sale of its key assets to a company
60.8% owned by the U.S. Government.

The Honorable Robert E. Gerber presides over the Chapter 11 cases.
Harvey R. Miller, Esq., Stephen Karotkin, Esq., and Joseph H.
Smolinsky, Esq., at Weil, Gotshal & Manges LLP, assist the Debtors
in their restructuring efforts.  Al Koch at AP Services, LLC, an
affiliate of AlixPartners, LLP, serves as the Chief Executive
Officer for Motors Liquidation Company.  GM is also represented by
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel.  Cravath, Swaine, & Moore LLP is providing legal advice
to the GM Board of Directors.  GM's financial advisors are Morgan
Stanley, Evercore Partners and the Blackstone Group LLP.

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


GERDAU AMERISTEEL: Parent's Board OKs Buyout of Remaining Stake
---------------------------------------------------------------
Gerdau S.A.'s board approved a proposal to buy the one-third stake
of its U.S. subsidiary Gerdau Ameristeel Corp. that it doesn't
already own for up to US$1.7 billion, Rogerio Jelmayer at Dow
Jones Newswires reports, citing a company statement.

As reported in the Troubled Company Reporter-Latin America on
June 4, 2010, Bloomberg News said that Gerdau SA agreed to take
full control of Gerdau Ameristeel.  According to the report,
Gerdau SA said it will pay US$11 a share in cash for the 33.7% of
Gerdau Ameristeel it doesn't already own.

Meanwhile, a TCRLA report on June 7, 2010, related that Robbins
Umeda LLP has commenced an investigation into whether the minority
shareholders of Gerdau Ameristeel have been unfairly prejudiced or
harmed in connection with the proposed acquisition of the company
by its majority shareholder, Gerdau SA.  If the transaction is
completed, Gerdau Ameristeel shareholders will receive US$11.00 in
cash for each share of Gerdau Ameristeel common stock they hold.
The transaction will be implemented pursuant to a plan of
arrangement.  Subject to completion of definitive documentation
for the transaction, a management information circular will be
prepared and mailed for a special meeting of Gerdau Ameristeel
shareholders that will be held early in the third quarter of 2010.

                     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 June 23, 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.

                       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 23, 2010, the company continues to carry Moody's Ba1 LT
corporate family rating and Ba1 senior unsecured debt ratings.


GERDAU SA: Unit Seeks Hierro Peru Iron-Ore Supply
-------------------------------------------------
Gerdau SA's Peruvian unit, Empresa Siderurgica del Peru SA
(Siderperu), is holding talks with iron-ore miner Shougang Hierro
Peru SAA to supply it steelworks, Alex Emery at Bloomberg News
repots, citing El Comercio.

According to the report, the newspaper said that Siderperu needs
to cut iron ore pellet prices to be able to reopen its blast
furnace, which was closed in 2008.  The report relates the
newspaper said that pellet prices tripled to US$180 per metric ton
during the past year.

The newspaper, the report notes, said that the company will reopen
the blast furnace when it secures "competitively priced" raw
material.

                          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 23, 2010, the company continues to carry Moody's Ba1 LT
corp family rating and Ba1 senior unsecured debt ratings.


GERDAU SA: Board OKs Buying Remaining Gerdau Ameristeel Stake
-------------------------------------------------------------
Gerdau S.A.'s board approved a proposal to buy the one-third stake
of its U.S. subsidiary Gerdau Ameristeel Corp. that it doesn't
already own for up to US$1.7 billion, Rogerio Jelmayer at Dow
Jones Newswires reports, citing a company statement.

As reported in the Troubled Company Reporter-Latin America on
June 4, 2010, Bloomberg News said that Gerdau SA agreed to take
full control of Gerdau Ameristeel.  According to the report,
Gerdau SA said it will pay US$11 a share in cash for the 33.7% of
Gerdau Ameristeel it doesn't already own.

Meanwhile, a TCRLA report on June 7, 2010, related that Robbins
Umeda LLP has commenced an investigation into whether the minority
shareholders of Gerdau Ameristeel have been unfairly prejudiced or
harmed in connection with the proposed acquisition of the company
by its majority shareholder, Gerdau SA.  If the transaction is
completed, Gerdau Ameristeel shareholders will receive US$11.00 in
cash for each share of Gerdau Ameristeel common stock they hold.
The transaction will be implemented pursuant to a plan of
arrangement.  Subject to completion of definitive documentation
for the transaction, a management information circular will be
prepared and mailed for a special meeting of Gerdau Ameristeel
shareholders that will be held early in the third quarter of 2010.

                     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 June 23, 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.

                       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 23, 2010, the company continues to carry Moody's Ba1 LT
corporate family rating and Ba1 senior unsecured debt ratings.


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


ASTRAL RIDGE: Creditors' Proofs of Debt Due on July 21
------------------------------------------------------
The creditors of Astral Ridge Investments are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


BAYWATER HOLDINGS: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------------
The creditors of Baywater Holdings are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


BLUE LINE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of Blue Line Capital are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


CEMS INC: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------
The creditors of CEMS Inc. are required to file their proofs of
debt by July 21, 2010, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on May 31, 2010.

The company's liquidator is:

         Susan Lo Yee Har
         c/o Neil Gray
         Telephone: (345) 949-8455
         Facsimile: (345) 949- 8499
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman KY1-1102


EQUATOR VIEW: Creditors' Proofs of Debt Due on July 21
------------------------------------------------------
The creditors of Equator View Capital are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


FYFE PARTNERS: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------
The creditors of FYFE Partners are required to file their proofs
of debt by July 21, 2010, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


HARBOR BRIDGE: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------
The creditors of Harbor Bridge Ltd. are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


IMAGE IAM: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of Image IAM Limited are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on June 3, 2010.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


JADE STREET: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------
The creditors of Jade Street Capital are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


MIRAGE IAM: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of Mirage IAM Limited are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on June 3, 2010.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


NEWTON IAM: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of Newton IAM Limited are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on June 3, 2010.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


PARK VALLEY: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------
The creditors of Park Valley Asset Management are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


PICO FUND: Creditors' Proofs of Debt Due on July 16
---------------------------------------------------
The creditors of Pico Fund Limited are required to file their
proofs of debt by July 16, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on December 16,
2009.

The company's liquidator is:

         Wilton Mcdonald
         Telephone: (345) 325-4040
         c/o PO Box 32338, 3rd Floor
         Genesis Building, George Town
         Grand Cayman KY1-1209, Cayman Islands


RONDO FUND: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of Rondo Fund are required to file their proofs of
debt by July 21, 2010, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 1, 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


SANGEN FUND: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------
The creditors of Sangen Fund are required to file their proofs of
debt by July 21, 2010, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


SOLAR TREE: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of Solar Tree Investments are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


THIRD POINT: Creditors' Proofs of Debt Due on July 21
-----------------------------------------------------
The creditors of Third Point Resources Ltd. are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 3, 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


TORANOMON COURT: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------------
The creditors of Toranomon Court Holdings are required to file
their proofs of debt by July 21, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


VICTORIA VIEW: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------
The creditors of Victoria View Ltd. are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 3, 2010.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945-3901
         Facsimile: (345) 945-3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


WAVE IAM: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------
The creditors of Wave IAM Limited are required to file their
proofs of debt by July 21, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on June 3, 2010.

The company's liquidator is:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949-5122
         Facsimile: (345) 949-7920
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


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


ECOPETROL SA: Offers Highest Bid for 9 Blocks in Colombia Auction
-----------------------------------------------------------------
Ecopetrol SA offered the highest bid to get the rights to seek oil
and gas in nine of the 96 blocks auctioned by the Colombia
government, Inti Landauro at Dow Jones Newswires reports.

According to the report, the company bid alone for five blocks and
for two others in partnership with Spain's Repsol, for another one
with South Korea's SK Energy Group and the last one with
Venezuelan firm Cementaciones Petroleras de Venezuela SA,
Ecopetrol said in a statement.

The report says that the company committed to invest US$102
million in the areas, while its partners will invest an additional
amount.

Dow Jones Newswires says that the Colombian oil-licensing agency
is still evaluating the different bids and will officially release
the results later.

The National Hydrocarbon Agency (ANH) Head Armando Zamora said
that had auctioned the rights to explore oil and gas in around 200
blocks and received offers for 96 blocks.  In total, firms
committed to invest more than US$1 billion in exploration in those
blocks, Mr. Zamora added, the report relates.

                         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 of June 23, 2010, the company continues to carry Standard and
Poor's "BB+" LT Issuer Credit ratings. The company also continues
to carry Fitch Ratings' "BB+" LT FC Issuer Default ratings and
"BB+" Senior Unsecured Debt rating.


PACIFIC RUBIALES: Gets 6 Blocks in ANH Bidding Process
------------------------------------------------------
Pacific Rubiales Energy Corp. has been awarded six new blocks in
the Ronda 2010 bidding process organized by the Agencia Nacional
de Hidrocarburos of Colombia (ANH).  The company won sole rights
to three blocks and was awarded three other blocks through a joint
venture with Talisman (Colombia) Oil & Gas, a wholly owned
subsidiary of Talisman Energy Inc. In all six blocks the company
will be the operator.

The blocks awarded to the company are located in the Putumayo,
Llanos, and Cordillera Basins.

                       Putumayo Basin

With the three blocks, the company acquires the largest
exploration acreage in this basin, where the company visualizes
the continuation of the heavy oil belt to the southeast of the
Rubiales and Quifa oil fields.  The blocks that were awarded to
Pacific Rubiales in the Putumayo are:

* CAG 5 Block: This block was awarded to a joint venture formed by
  the company's subsidiary, Meta Petroleum Corp. (50%) and
  Talisman (50%).

* CAG 6 Block: This block was awarded to a joint venture formed by
  Meta (60%) and Talisman (40%). The block is a Type 1 E&P block
  with an area of 48,177 hectares located just to the west by
  north-west of the CAG 5 Block and to the south of the Topoyaco
  Block, where the company has a 50% working interest.

* PUT 9 Block: This block was awarded to a joint venture formed by
  Meta (60%) and Talisman (40%).  This block is a Type 1 E&P block
  with an area of 49,150 hectares. It is located to the west of
  the CAG 5 Block and the company's Terecay E&P Blocks and 60 km
  to the south of the Topoyaco Block.

                      Cordillera Basin

This basin is located in the thrust sheet east of the Cuisiana-
Cupiagua giant fields in Colombia.  In this basin there are
abundant oil seeps and the few wells drilled in the basin show a
very thick heavy oil saturated pay zone, where the expertise of
the company in the Llanos Basin can be applied.

* COR 24 Block: 100% of the COR 24 Block was awarded to the
  company as part of the Type 3 (TEA) blocks located in the
  Eastern Cordillera.  This block has an area of 250,831 hectares
  and is located in the central part of the Eastern Cordillera.

                        Llanos Basin

The Llanos Basin is a very well known and prolific basin in the
foreland of the Colombia Andes, where the Rubiales and Quifa Oil
Fields are located.  It is also close to the giant Cano Limon Oil
Field.  The blocks in this basin that were awarded to the company
are:

* LLA 7 Block: This block was awarded to the company (100%) as a
  Type 1 E&P block.  The block has an area of 61,785 hectares and
  is located 40 km southwest of the Arauca Block, which is also
  operated by the company.

* LLA 55 Block: This block was awarded to the company (100%) as a
  Type 1 E&P block.  It has an area of 41,602 hectares and is
  located just to the southwest of the Arauca Block operated by
  the company.

With the completion of this ANH 2010 Bidding Process, Pacific
Rubiales has, once again, demonstrated its position as one of the
most significant independent oil & gas companies in Colombia.  The
net total investment for the company will be US$98.62 million for
the first 36 month exploration phases in all contracts; with a
total area awarded of 823,581 hectares.  This additional
exploration spending will be funded with operating cash flow
starting in 2011 and is subject to ANH exploration regulations
that specify funding by type of block.

                       About Pacific Rubiales

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

                           *     *     *

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


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


CABLE & WIRLESS: Increases Services Costs
-----------------------------------------
LIME (formerly Cable & Wireless Jamaica) has shed light on the
decision to increase the fees for some of the services it provides
to its customers, RadioJamaica reports.

According to the report, LIME disclosed changes to its landline,
internet and outbound roaming rates.  The report relates that the
increase for roaming services took effect on June 1, 2010, while
the adjustments for internet services and residential telephone
line rental will begin on July 1, 20101 and August 1, 2010
respectively.  The increases range from 5% to 9%.

The report notes Errol Miller, regional vice president for
corporate communications at LIME, said that the changes became
necessary as the company was no longer able to absorb some of the
increases in its operational expenses.  "Over the last several
years, our company has been absorbing all of the costs relating to
providing services which have been climbing astronomically in some
cases.  It's not that we're passing on all the costs, but we're
passing on some.  The increases in gasoline, staff cost, the
equipment we buy that we utilize in providing the service, all of
them have risen at an alarming rate," the report quoted Mr. Miller
as saying.

                          About LIME

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

                      About Cable & Wireless

Headquartered in London, England, Cable & Wireless plc --
http://www.cw.com/-- is an international telecommunications
company.  The Company offers mobile, broadband and domestic and
international fixed line services to homes, small and medium-sized
enterprises, corporate customers and governments.  It operates in
39 countries through four major operations in the Caribbean,
Panama, Macau and Monaco & Islands.  It operates through two
businesses: International and Europe, Asia & US.  Its
International business operates full service telecommunications
companies through four major operations in the Caribbean, Panama,
Macau and Monaco and Islands.  Its Europe, Asia & US provides
enterprise and carrier solutions to the largest users of telecom
services across the United Kingdom, continental Europe, Asia and
the United States.  Its subsidiaries include Cable & Wireless UK,
Cable & Wireless Jamaica Ltd, Cable & Wireless Panama, SA, Cable &
Wireless (Barbados) Ltd and Monaco Telecom SAM.

                         *     *     *

According to Bloomberg data, Cable & Wireless plc continues to
carry Moody's "Ba3"long-term corporate family rating, "B1" senior
unsecured debt rating and "Ba3"probability of default rating with
a stable outlook.

The company continues to Standard & Poor's "BB-"long-term foreign
and local issuer credit ratings and "B" short-term foreign and
local issuer credit ratings.


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


MAXCOM TELECOMUNICACIONES: S&P Affirms 'B' Corporate Credit Rating
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Mexican
telecommunications provider Maxcom Telecomunicaciones S.A.B de
C.V. to negative from stable.  At the same time S&P affirmed its
'B' corporate credit rating on the company and the recovering
rating of '3' on the notes, indicating that lenders can expect a
substantial (50%-70%) recovery in the event of payment default.

The outlook revision reflects Maxcom's weaker financial
performance, especially its continued negative free operating cash
flow, its increased leverage during 2009 reflected by an average
debt-to EBITDA ratio of 4.0x, its high cash burn rate, and S&P's
expectation of continued weak financial results due to intense
competition.

"S&P's rating on Maxcom reflects the strong competition from land
line, mobile telephony, and cable operators; the deterioration in
the company's profitability; and its operating in a capital-
intensive industry that has kept FOCF negative," said Standard &
Poor's credit analyst Marcela Duenas.  "Partially mitigating these
weaknesses are Maxcom's adequate liquidity; its telecom service
offerings, including quadruple-play bundled packages at very
competitive prices; and expertise in managing customer credit."

The negative outlook reflects the challenging industry environment
coupled with a weaker financial performance.  A downgrade is
possible if the company maintains its high spending and/or if
leverage and cash burn rate increase limiting the company's
financial flexibility and increasing refinancing risk.  "Although
unlikely, if the company limits its operating and capital
expenditures and achieves a total debt-to-EBITDA ratio of close to
3x, S&P could revise the outlook to stable," Ms. Duenas added.


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


DOE RUN PERU: Pledges to Resume Operations Before July 27
---------------------------------------------------------
Doe Run Company's Doe Run Peru has pledged to resume operations at
its metallurgical complex in the Peruvian city of La Oroya before
a government-imposed deadline of July 27, 2010, Latin America
Herald Tribune reports.

The report relates that the company made the announcement after
Company Chief Executive Officer Juan Carlos Huyhua met with
representatives of President Alan Garcia's administration,
Congress' Energy and Mines committee and workers at the smelter.

According to the report, Doe Run requested a formal meeting with
the Energy and Mines Ministry to discuss critical matters that it
says must be resolved before operations can be resumed.  The
report relates that those points include protection for Doe Run
against lawsuits over health problems related to more than 80
years of passive pollution.

The Tribune notes that several decades of mining operations in La
Oroya have made a town located 185 kilometers east of Lima one of
the most polluted places on the planet.  The report relates Doe
Run said that because it bought the smelter in 1997 it should not
be held liable for environmental damage that occurred prior to
that year.

The company, the report discloses, also expressed concerns over
air-quality standards that it says can only be met "upon the
completion of the PAMA projects," referring to a contract-mandated
environmental clean-up that it now has until 2012 to complete
after the deadline was extended last year by 30 months.  The
company also wants the government to give it more time to pay
"additional taxes which the company is currently contesting,"
levies that the government estimates amount to 700 million soles
(US$245 million), the report adds.

Meanwhile, the Tribune relates Energy and Mines Minister Pedro
Sanchez, for his part, said that "as far as the government is
concerned, there is no longer . . . anything pending to review,"
adding that July 27 is "a non-postponable date."  By law the
smelter must be put on a path to permanent closure if the miner
has not resumed its operations by that date, he added.

As reported in the Troubled Company Reporter-Latin America on
April 30, 2010, Mining Weekly said that Doe Run Peru been given
until end of July to prepare for a restart of its La Oroya
smelter, but the government of Peru warned that there would be
penalties if the new deadline is not met.  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 Company 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.  Doe Run Peru is a subsidiary of the
company.

Doe Run Peru operates a polymetallic smelter at La Oroya and
copper mine at Cobriza both in Peru.

                           *     *     *

As of June 21, 2010, the company continues to carry Moody's bank
financial strength at D- and Fitch Ratings' individual rating at


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


AJILI MOJILI: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Ajili Mojili Incorporado
        1006 Ave Ashford
        San Juan, PR 00907

Bankruptcy Case No.: 10-05436

Chapter 11 Petition Date: June 18, 2010

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

Judge: Enrique S. Lamoutte Inclan

Debtor's Counsel: Alexis Fuentes Hernandez, Esq.
                  Fuentes Law Offices
                  P.O. Box 9022726
                  San Juan, PR 00902-2726
                  Tel: (787) 722-5216
                  Fax: (787) 722-5206
                  E-mail: alex@fuentes-law.com

Scheduled Assets: $397,173

Scheduled Debts: $1,483,302

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb10-05436.pdf

The petition was signed by Jose A. Benitez Gorbea, company's
president.


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


CL FINANCIAL: Chairman Resigns
------------------------------
CL Financial Limited Dr. Shafeek Sultan-Khan resigned from his
post as the company's chairman and from all CL Financial
subsidiaries on Monday, June 21, 2010, Curtis Rampersad at
Trinidad Express reports.

"Dr Sultan-Khan has cited personal reasons for his decision and
his resignation is with immediate effect," CL Financial Managing
Director and Group Chief Executive Officer Marlon Holder said in a
company statement obtained by the news agency.  During Dr. Sultan-
Khan's tenure, CL Financial saved more than US$100 million in
costs, the statement added.

According to the report, Dr. Sultan-Khan was installed as chairman
of CL Financial following the conglomerate's collapse and
subsequent approach to government for a financial rescue in
January 2009.  The report notes that several directors and
executives have resigned at CLICO and CL Financial since 2009.

The report relates that they include former Central Bank governor
Dr Euric Bobb, former Citi banker Steve Bideshi, Claude Musaib-Ali
and original CL directors Lawrence Duprey and Michael Carballo.

                          About CL Financial

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

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 20, 2009, the Trinidad and Tobago Express said Central Bank
Governor Ewart Williams disclosed that an examination of insurance
company CLICO, dissolved finance house CLICO Investment Bank and
other CL Financial companies showed a deficit between US$6
billion and US$8 billion.  Tobago President George Maxwell
Richards, The Express related, signed bailout bills for CL
Financial, giving the government the authority to control the
company's unit, Colonial Life Insurance Company, and giving the
central bank extensive powers to treat with CL Financial's
collapse and the consequent systemic crisis.


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


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

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

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

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

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

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

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

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

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

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

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


                            ***********

Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to
publication.  Prices reported are not intended to reflect actual
trades.  Prices for actual trades are probably different.  Our
objective is to share information, not make markets in publicly
traded securities.  Nothing in the TCR-LA constitutes an offer
or solicitation to buy or sell any security of any kind.  It is
likely that some entity affiliated with a TCR-LA editor holds
some position in the issuers' public debt and equity securities
about which we report.

Tuesday's edition of the TCR-LA features a list of companies
with insolvent balance sheets obtained by our editors based on
the latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical
cost net of depreciation may understate the true value of a
firm's assets.  A company may establish reserves on its balance
sheet for liabilities that may never materialize.  The prices at
which equity securities trade in public market are determined by
more than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com

                            ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter - Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravente, Rousel Elaine C.
Tumanda, Valerie C. Udtuhan, Frauline S. Abangan, and Peter A.
Chapman, Editors.


Copyright 2010.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Christopher Beard at 240/629-3300.


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