TCRLA_Public/100629.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

              Tuesday, June 29, 2010, Vol. 11, No. 126

                            Headlines



A R G E N T I N A

AGRO LAMB: Creditors' Proofs of Debt Due on November 22
ALL SOFTWARE: Creditors' Proofs of Debt Due on September 20
ASERRADERO SAN: Creditors' Proofs of Debt Due on September 3
CONTROL AND: Creditors' Proofs of Debt Due on August 3
CURATOLA Y ASOCIADOS: Creditors' Proofs of Debt Due on Sept. 10

ERGASON SA: Creditors' Proofs of Debt Due on August 23
NEYPAR SA: Creditors' Proofs of Debt Due on August 24
PHOTO DEPOT: Asks for Preventive Contest


B R A Z I L

COMPANHIA SIDERURGICA: Set to Gain From Renminbi's Appreciation
COMPANHIA SIDERURGICA: To Spin Off Businesses to Increase Assets
FIBRIA CELULOSE: Cut to "Underperform" at Itau
MARFRIG ALIMENTOS: Sees No More Acquisitions; To Expand Operations
MARFRIG ALIMENTOS: Aims to Rebuild Seara's Local Market Share

TAM SA: Expands Codeshare Agreement With SWISS


C A Y M A N  I S L A N D S

AMP CDO: Creditors' Proofs of Debt Due on July 21
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
CAYCO I: Creditors' Proofs of Debt Due on July 23
CAYCO II: Creditors' Proofs of Debt Due on July 23

CURETON INVESTMENTS: Creditors' Proofs of Debt Due on July 21
DANA PETROLEUM: Creditors' Proofs of Debt Due on July 21
DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
GANDHARA CAPITAL: Creditors' Proofs of Debt Due on August 6

IBIS INTERNATIONAL: Creditors' Proofs of Debt Due on July 12
ING LEASE: Creditors' Proofs of Debt Due on July 21
ING LEASE: Creditors' Proofs of Debt Due on July 21
ING LEASE: Creditors' Proofs of Debt Due on July 21
JLOC THREE: Creditors' Proofs of Debt Due on July 21

MOCHA INTERNATIONAL: Creditors' Proofs of Debt Due on July 21
RANGER FAMILY: Creditors' Proofs of Debt Due on July 30
SEAFIELD RESOURCES: Creditors' Proofs of Debt Due on July 21
SCOUT CAPITAL: Creditors' Proofs of Debt Due on July 12
SWR INVESTMENTS: Creditors' Proofs of Debt Due on July 21

VECTORS RESEARCH: Creditors' Proofs of Debt Due on July 13


C O L O M B I A

ECOPETROL SA: President-Elect Won't Sell Gov't Stake
ISAGEN SA: President-Elect Won't Sell Gov't Stake


E C U A D O R

* ECUADOR: Would Get 25% of Oil Revenue Under Proposed Law


J A M A I C A

DIGICEL GROUP: Has Unfair Pricing Strategy, Says FTC
SUGAR COMPANY OF JAMAICA: Talks Underway With Factory Bidders


M E X I C O

BANCO INTERACCIONES: Moody's Assigns 'B1' Senior Debt Ratings
CORPORACION GEO: S&P Affirms 'BB-' Corporate Credit Rating
EMPRESAS ICA: Raised to "Outperform" at Scotia Capital
GRUPO KUO: S&P Affirms 'BB-' Global Corporate Credit Ratings
HIPOTECARIA SU: Moody's Downgrades Ratings on Certs. to 'Ba2'


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Unit to Provide Technical Aid to JVs


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                         - - - - -


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


AGRO LAMB: Creditors' Proofs of Debt Due on November 22
-------------------------------------------------------
Alfredo Legnazzi, the court-appointed trustee for Agro Lamb SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until November 22, 2010.

Mr. Legnazzi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 18 in Buenos Aires, with the assistance of Clerk
No. 36, 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:

         Alfredo Legnazzi
         Cerrito 1136
         Argentina


ALL SOFTWARE: Creditors' Proofs of Debt Due on September 20
-----------------------------------------------------------
The court-appointed trustee for All Software S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
September 20, 2010.

The trustee will present the validated claims in court as
individual reports on November 2, 2010.  The National Commercial
Court of First Instance in Buenos Aires 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.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 15, 2010.


ASERRADERO SAN: Creditors' Proofs of Debt Due on September 3
------------------------------------------------------------
The court-appointed trustee for Aserradero San Vicente S.A.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until September 3, 2010.

The trustee will present the validated claims in court as
individual reports on October 20, 2010.  The National Commercial
Court of First Instance in Buenos Aires 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.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 27, 2010.


CONTROL AND: Creditors' Proofs of Debt Due on August 3
------------------------------------------------------
Carlos Erasmo Moreno, the court-appointed trustee for Control and
Security in the World SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until August 3, 2010.

Mr. Moreno will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 33, 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:

         Carlos Erasmo Moreno
         Tucuman 1506
         Argentina


CURATOLA Y ASOCIADOS: Creditors' Proofs of Debt Due on Sept. 10
---------------------------------------------------------------
Ricardo Adrogue, the court-appointed trustee for Curatola y
Asociados SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until September 10, 2010.

Mr. Adrogue will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 4 in Buenos Aires, with the assistance of Clerk
No. 7, 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:

         Ricardo Adrogue
         Bouchard 468
         Argentina


ERGASON SA: Creditors' Proofs of Debt Due on August 23
------------------------------------------------------
The court-appointed trustee for Ergason S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
August 23, 2010.

The trustee will present the validated claims in court as
individual reports on October 4, 2010.  The National Commercial
Court of First Instance in Buenos Aires 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.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
November 15, 2010.


NEYPAR SA: Creditors' Proofs of Debt Due on August 24
-----------------------------------------------------
Marta Irene Nicoletti, the court-appointed trustee for Neypar SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until August 24, 2010.

Mr. Nicoletti will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 37, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.


PHOTO DEPOT: Asks for Preventive Contest
----------------------------------------
Photo Depot Argentina SRL asked for preventive contest.

The company stopped making payments last January 30, 2010.


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


COMPANHIA SIDERURGICA: Set to Gain From Renminbi's Appreciation
---------------------------------------------------------------
Barclays Capital Plc said that Companhia Siderurgica Nacional is
set to gain from an appreciation of China's renminbi, Dow Jones
Newswires reports.  The report relates that Barclays analysts said
that an expected 5% revaluation of the renminbi against the U.S.
dollar over the next year, after China's announcement of a more
flexible exchange rate policy, will make Chinese steel and metals
producers less globally competitive.

According to the report, Barclays Capital said that China's
domestic iron ore production costs will grow in dollar terms,
which could boost spot market iron ore prices by 5% to around
US$60 per tonne in the long term, from a previous estimate of
US$55. The report relates that this could allow gains CSN share
values by as much as 6% in the long term.

                          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+.


COMPANHIA SIDERURGICA: To Spin Off Businesses to Increase Assets
----------------------------------------------------------------
Companhia Siderurgica Nacional S.A. will start to gradually spin
off parts of its business in a bid to increase assets, Steel Guru
News reports, citing Investor's Business Daily.

According to the report, it is believed that the company could
also sell stakes in its cement, steel making, energy and logistics
units.  The report relates that if all goes well, the moves could
help CSN fetch a better value for its business, in turn fueling
possible acquisitions.

The report notes that Brazil is facing some inflation issues,
partly due to a run up in prices on iron ore and wholesale goods.
As a result, the report says, the country may cut the import duty
on steel.  The report relates that this is partly a response to
CSN and other Brazilian steel makers raising prices by more than
10% a month due to higher iron ore costs.

                          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+.


FIBRIA CELULOSE: Cut to "Underperform" at Itau
----------------------------------------------
Eric Martin at Bloomberg News reports that Fibria Celulose SA was
cut to "underperform" at Itau Unibanco Holding SA on June 25,
2010.

According to the report, Itau Unibanco cited the outlook for pulp
prices and the stocks' valuations as the cause of the downgrade.

Fibria Celulose S.A. is the largest producer of market pulp in the
world, and also produces specialty paper, such as coated, thermal,
and carbonless paper.  In 2009 Fibria reported consolidated net
revenues of BRL 6 billion (US$3 billion converted by the average
foreign exchange rate for the period).

                         *     *    *

As of June 28, 2010, the company continues to carry Moody's "Ba1"
issuer rating with stable outlook.  The company also continues to
carry Standard and Poor's "BB" issuer credit ratings with positive
outlook.


MARFRIG ALIMENTOS: Sees No More Acquisitions; To Expand Operations
------------------------------------------------------------------
Marfrig Alimentos SA Chief Executive Officer Marcos Molina said
that the company isn't planning any more acquisitions after buying
Keystone Foods LLC and will focus on expanding its own operations,
Jessica Brice at Bloomberg News reports, citing O Estado de S.
Paulo newspaper.

As reported in the Troubled Company Reporter-Latin America on
June 16, 2010, Bloomberg News said that Marfrig Alimentos SA
agreed to pay US$1.26 billion for chicken nugget maker Keystone
Foods LLC.  The report related that Marfrig Alimentos signed an
agreement with Lindsay Goldberg LCC to buy all the shares in
closely held West Conshohocken, Pennsylvania-based Keystone.
According to the report, Marfrig Alimentos said that buying
Keystone gives the company access to a supplier to international
food and restaurant companies such as McDonald's Corp. and
Campbell Soup Co. Marfrig has sought to expand production through
acquisitions in the past three years.

                      About Marfrig Alimentos

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

                           *     *     *

As of June 28, 2010, the company continues to carry Moody's "B1"
long term rating and LT corp family rating.  The company also
continues to carry Fitch Rating's "B+" LT issuer default ratings.


MARFRIG ALIMENTOS: Aims to Rebuild Seara's Local Market Share
-------------------------------------------------------------
Marfrig Alimentos SA Chief Executive Officer Marcos Molina said
that the company aims to recover the 16% market share that Seara
products used to have in Brazil, Maria Luiza Rabello at Bloomberg
News reports, citing Folha de S.Paulo.

According to the report, Mr. Molina told the newspaper in an
interview that Seara Alimentos SA's market share had slipped to
about 4% by the time Marfrig Alimetos concluded its takeover of
the poultry and pork processor.

As reported in the Troubled Company Reporter-Latin America on
January 7, 2010, Dow Jones Newswires said that Marfrig Alimentos
has completed the acquisition of Seara Alimentos Ltd., a local
poultry, pork and consumer food company controlled by U.S. food
giant Cargill.  According to the report, Marfrig said that the
total value of the acquisition was US$899 million, including
US$705.2 million in cash and US$193.8 million through the
assumption of Seara's debts.  The report related that the company
financed the acquisition with a primary share offer on the
Brazilian Stock Exchange (BMFBovespa), at the end of 2009,
totaling BRL1.5 billion (US$872 million).

                      About Marfrig Alimentos

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

                           *     *     *

As of June 28, 2010, the company continues to carry Moody's "B1"
long term rating and LT corp family rating.  The company also
continues to carry Fitch Rating's "B+" LT issuer default ratings.


TAM SA: Expands Codeshare Agreement With SWISS
----------------------------------------------
TAM SA and SWISS started on June 28, codeshare on two flights
operated by SWISS: Paris - Zurich and Zurich - Paris.

The companies' codeshare agreement started in May 2009, offering
more convenience and benefits to customers.

"Our partnership with SWISS now takes a new dimension.  We hope
this agreement can further stimulate international passenger
traffic between Brazil and Switzerland", said TAM's Commercial and
Planning Vice President, Paulo Castello Branco.  "Moreover, we
hold FFP (Frequent Flyer Program) agreement with SWISS, which
enables TAM Loyalty Program members to accrual and redeem points
on any flight operated by SWISS.  Likewise, members of Miles &
More (program used by SWISS) can accrual and redeem miles on all
our domestic and international flights."

                           About TAM SA

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

                           *     *     *

As of June 28, 2010, the company continues to carry Standard and
Poor's "B+" LT Issuer credit ratings.  The company also continues
to carry Fitch rating's "BB-" LT Issuer default ratings.


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


AMP CDO: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------
The creditors of AMP CDO 2006-1 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 11, 2010.

The company's liquidator is:

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


ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------------
The creditors of The Asian Infrastructure 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 liquidation proceedings on May 31, 2010.

The company's liquidator is:

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


ASIAN INFRASTRUCTURE: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------------
The creditors of Asian Infrastructure Fund Management Company
Limited LDC 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 May 31, 2010.

The company's liquidator is:

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


CAYCO I: Creditors' Proofs of Debt Due on July 23
-------------------------------------------------
The creditors of CAYCO I are required to file their proofs of debt
by July 23, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on June 10, 2010.

The company's liquidator is:

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


CAYCO II: Creditors' Proofs of Debt Due on July 23
--------------------------------------------------
The creditors of CAYCO II are required to file their proofs of
debt by July 23, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on June 10, 2010.

The company's liquidator is:

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


CURETON INVESTMENTS: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------------
The creditors of Cureton Investments No. 2 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 8, 2010.

The company's liquidator is:

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


DANA PETROLEUM: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------
The creditors of Dana Petroleum (WA) LLC 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 7, 2010.

The company's liquidator is:

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


DIAGEO FUNDING: Creditors' Proofs of Debt Due on July 21
--------------------------------------------------------
The creditors of Diageo Funding Company No. 1 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 8, 2010.

The company's liquidator is:

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


GANDHARA CAPITAL: Creditors' Proofs of Debt Due on August 6
-----------------------------------------------------------
The creditors of Gandhara Capital Management Limited are required
to file their proofs of debt by August 6, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on June 10, 2010.

The company's liquidator is:

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


IBIS INTERNATIONAL: Creditors' Proofs of Debt Due on July 12
------------------------------------------------------------
The creditors of Ibis International, Ltd. are required to file
their proofs of debt by July 12, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 7, 2010.

The company's liquidator is:

         Ogier
         c/o Susan Taylor
         Telephone: (345) 949-9876
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Epsilon 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 May 25, 2010.

The company's liquidator is:

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


ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Sigma 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 May 25, 2010.

The company's liquidator is:

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


ING LEASE: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------
The creditors of ING Lease Japan Steven 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 May 25, 2010.

The company's liquidator is:

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


JLOC THREE: Creditors' Proofs of Debt Due on July 21
----------------------------------------------------
The creditors of JLOC Three 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 wind-up proceedings on June 10, 2010.

The company's liquidator is:

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


MOCHA INTERNATIONAL: Creditors' Proofs of Debt Due on July 21
-------------------------------------------------------------
The creditors of Mocha International 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 8, 2010.

The company's liquidator is:

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


RANGER FAMILY: Creditors' Proofs of Debt Due on July 30
-------------------------------------------------------
The creditors of Ranger Family IDF, LLC are required to file their
proofs of debt by July 30, 2010, to be included in the company's
dividend distribution.

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

The company's liquidator is:

         Graham Robinson
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P.O. Box 897, Windward 1, Regatta Park
         West Bay Road, Grand Cayman KY1-1103
         Cayman Islands


SEAFIELD RESOURCES: Creditors' Proofs of Debt Due on July 21
------------------------------------------------------------
The creditors of Seafield Resources (Ghana) LLC 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 7, 2010.

The company's liquidator is:

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


SCOUT CAPITAL: Creditors' Proofs of Debt Due on July 12
-------------------------------------------------------
The creditors of Scout Capital Concentrated Fund, Ltd. are
required to file their proofs of debt by July 12, 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:

         Ogier
         c/o Joel Reid
         Telephone: (345) 815-1828
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


SWR INVESTMENTS: Creditors' Proofs of Debt Due on July 21
---------------------------------------------------------
The creditors of SWR Investments 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 1, 2010.

The company's liquidator is:

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


VECTORS RESEARCH: Creditors' Proofs of Debt Due on July 13
----------------------------------------------------------
The creditors of Vectors Research Opportunities Offshore Fund,
Ltd. are required to file their proofs of debt by July 13, 2010,
to be included in the company's dividend distribution.

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

The company's liquidator is:

         Ogier
         c/o Jonathan McLean
         Telephone: (345) 815-1805
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007, Cayman Islands


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


ECOPETROL SA: President-Elect Won't Sell Gov't Stake
----------------------------------------------------
Future Finance Minister Juan Carlos Echeverry said that Colombian
President-elect Juan Manuel Santos won't sell government stakes in
Isagen SA or Ecopetrol SA to finance spending, Heather Walsh at
Bloomberg News reports, citing El Portafolio.

According to the report, the newspaper said that Mr. Echeverry
also doesn't plan to change regulations for the oil and mining
industries.

Mr. Santos, a former defense minister, won the election on
June 20, 2010, with 69% of the vote.  He appointed Mr. Echeverry
on June 21.

As reported in the Troubled Company Reporter-Latin America on
May 18, 2010, Bloomberg News said that Colombia won't sell Isagen
SA while President Alvaro Uribe is in office, allowing the next
government to decide whether to sell its majority share in the
company after taking power in August.  The report related that the
government was seeking at least COP3 trillion (US$1.5 billion) for
its 57% stake in Isagen.  Colombia will have its presidential
election in May, and the new president will take power on
August 7.  Dow Jones Newswires said that since the process to
approve new borrowing takes several weeks, the next administration
might have run into trouble if it had to tap the capital markets.

                    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 May 20, 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.

                          About Isagen SA

Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks.  The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro.  The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso.  Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.

                           *     *     *

As of May 20, 2010, the company continues to carry Moody's "BB+"
LT Issuer Default ratings.


ISAGEN SA: President-Elect Won't Sell Gov't Stake
-------------------------------------------------
Future Finance Minister Juan Carlos Echeverry said that Colombian
President-elect Juan Manuel Santos won't sell government stakes in
Isagen SA or Ecopetrol SA to finance spending, Heather Walsh at
Bloomberg News reports, citing El Portafolio.

According to the report, the newspaper said that Mr. Echeverry
also doesn't plan to change regulations for the oil and mining
industries.

Mr. Santos, a former defense minister, won the election on
June 20, 2010, with 69% of the vote.  He appointed Mr. Echeverry
on June 21.

As reported in the Troubled Company Reporter-Latin America on
May 18, 2010, Bloomberg News said that Colombia won't sell Isagen
SA while President Alvaro Uribe is in office, allowing the next
government to decide whether to sell its majority share in the
company after taking power in August.  The report related that the
government was seeking at least COP3 trillion (US$1.5 billion) for
its 57% stake in Isagen.  Colombia will have its presidential
election in May, and the new president will take power on
August 7.  Dow Jones Newswires said that since the process to
approve new borrowing takes several weeks, the next administration
might have run into trouble if it had to tap the capital markets.

                    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 May 20, 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.

                          About Isagen SA

Isagen SA is a Colombia-based company primarily engaged in the
energy sector. Its activities comprise the electric power
generation and distribution, as well as the operation of coal,
steam and gas distribution networks.  The company has a total
installed capacity of 2,131 megawatts and its facilities include
four hydroelectric plants: Central San Carlos, Central Jaguas,
Central Calderas and Central Miel I, and one combined-cycle
thermal power station: Central Termocentro.  The company is also
involved in such expansion projects as Proyecto Guarino, Proyecto
Manso, Proyecto Hidroelectrico del Rio Amoya and Proyecto
Hidroelectrico Sogamoso.  Additionally, the Company holds a
minority interests in Gensa SA ESP and Electricaribe SA ESP.

                           *     *     *

As of May 20, 2010, the company continues to carry Moody's "BB+"
LT Issuer Default ratings.


=============
E C U A D O R
=============


* ECUADOR: Would Get 25% of Oil Revenue Under Proposed Law
----------------------------------------------------------
Ecuador wants 25% of gross income from the country's key oil
sector to go to the state, Reuters reports, citing a law proposed
by the government aimed at increasing revenue from natural
resources.

According to the report, the bill is marked urgent, meaning it
must be acted on by the legislature within a month or it
automatically becomes law.  The report relates that Ecuador has
been trying to renegotiate contracts with private oil companies
for two years in a bid to boost state control over the oil sector.

"The state will reserve 25% of gross income," the text of the
measure said, the report notes.

The report notes Ecuador President Rafael Correa has warned that
companies that do not sign contracts governed by the new law will
be paid for the investments they have made in the country and
their operations will be taken over.

Ecuador produces 470,000 barrels of oil per day, 44% of which is
pumped by private companies, the report adds.

                          *     *     *

As of June 28, 2010, the country continues to carry Moody's "Caa2"
CC LT foreign bank deposit ratings, and "Caa3" FC currency issuer
rating and foreign currency LT debt rating.


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


DIGICEL GROUP: Has Unfair Pricing Strategy, Says FTC
----------------------------------------------------
The Fair Trading Commission has issued a report that charges
Digicel Group of having an unfair pricing strategy, harmful to
competition and consumers, the Jamaica Observer reports.

According to the Observer, the FTC report follows investigations
into complaints by Cable & Wireless Jamaica that Digicel Group was
acting anti-competitively by charging LIME a wholesale rate for
calls from LIME landlines to Digicel Group mobiles that was as
much as 62% higher than the retail rate Digicel Group charges its
own landline customers to call the same phones.  The report
relates that Cable & Wireless' LIME alleged that the "price
squeezing" by Digicel Group made it impossible for LIME to lower
its landline to mobile retail rates to compete fairly against
Digicel.

Digicel Group, the report notes, has not yet stated whether it
will act on the Fair Trading Commission's recommendations.

The FTC in its report said the most effective corrective action
would be to alter the regulatory environment in the industry "to
remove Digicel Group's undue influence over the price of its
rival's voice services", but because this may take considerable
time, also recommended Digicel take the initiative to change its
pricing, the report adds.

                        About Digicel Group

Digicel Group -- http://www.digicelgroup.com-- is renowned for
competitive rates, unbeatable coverage, superior customer care, a
wide variety of products and services and state-of-the-art
handsets. By offering innovative wireless services and community
support, Digicel has become a leading brand across its 31 markets
worldwide.

Digicel is incorporated in Bermuda and now has operations in 31
markets worldwide. Its Caribbean and Central American markets
comprise Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda,
Bonaire, the British Virgin Islands, the Cayman Islands, Curacao,
Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana,
Haiti, Honduras, Jamaica, Martinique, Panama, St Kitts & Nevis,
St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad &
Tobago and Turks & Caicos. The Caribbean company also has coverage
in St. Martin and St. Barths. Digicel Pacific comprises Fiji,
Papua New Guinea, Samoa, Tonga and Vanuatu.

                           *     *     *

As of January 14, 2010, the company continues to carry these low
ratings from Moody's:

   -- LT Corp Family Rating at B2
   -- Senior Undecured Debt Rating at Caa1
   -- probability of Default at B2


SUGAR COMPANY OF JAMAICA: Talks Underway With Factory Bidders
-------------------------------------------------------------
Agriculture Minister Dr. Christopher Tufton said that negotiations
are progressing with the bidders for the remaining state-run sugar
factories owned by Sugar Company of Jamaica Holdings Limited,
RadioJamaica reports.

According to the report, a number of local and overseas firms have
expressed an interest in acquiring the three entities still on the
auction block.  The report relates that last month was the
deadline for the presentation of expressions of interest to the
Development Bank of Jamaica.

Dr. Tufton, the report notes, said that the negotiating team is
now meeting with the interested stakeholders.  "Discussions and
negations are taking place now towards trying to identify the best
options for the remaining government owned estates," the report
quoted Dr. Tufton as saying.

The factories still on the auction block are Monymusk, Bernard
Lodge and Frome, the report adds.

                          About SCJ

The Sugar Company of Jamaica Holdings Limited, a.k.a. SCJ, was
formed in November 1993 by a consortium made up of J. Wray &
Nephew Limited, Manufacturers Investments Limited and Booker Tate
Limited.  The three companies each held 17% equity in SCJ, with
the remaining 49% being held by the government of Jamaica.  In
1998, the government became the sole shareholder of SCJ by
acquiring the interests of the members of the consortium. Its
stated goal was to maximize efficiency, productivity and
profitability of the three sugar factories, within three years.
The principal activities of the company are the cultivation of
cane and the manufacture and sale of sugar and molasses.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 22, 2009, the Jamaica Gleaner reported that Agriculture and
Fisheries Minister Christopher Tufton said that if a new deal is
not inked soon for the divestment of SCJ's factories, the public
will be called on again to plug a projected US$4.2 billion hole --
representing a US$2 billion operational loss, and bank penalties
-- apparently from continuous hefty overdrafts.  The loss was
incurred by the SCJ's four factories during the 2008/2009 season.
The Gleaner related the enterprise has a US$21-billion debt and
losses totaling more than US$14 billion since 2005.


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


BANCO INTERACCIONES: Moody's Assigns 'B1' Senior Debt Ratings
-------------------------------------------------------------
Moody's Investors Service assigned long and short term global
local currency senior debt ratings of Ba1/Not Prime to Banco
Interacciones, S.A.'s Senior Debt Program of up to Mx$10 billion.
On its Mexican National Scale, Moody's de Mexico assigned its
A1.mx long term and MX-2 short term senior debt ratings to the
program.  The outlook on all these ratings is stable.  Under this
program, Interacciones may issue certificados burs tiles
bancarios, certificados de depĒsito bancario de dinero and pagares
con rendimiento liquidable al vencimiento.

Moody's also assigned Ba1 global local currency and A1.mx Mexican
National Scale long term senior debt ratings to the first issuance
of certificados de depĒsito bancario de dinero for up to Mx$1
billion, issued under the Program.  The notes rank pari passu with
the bank's other senior obligations.

The last rating action on Interacciones was on October 9, 2009,
when Moody's assigned first-time ratings to Interacciones Casa de
Bolsa, S.A. de C.V. Grupo Financiero Interacciones.

The long-term Mexican National Scale rating of A1.mx indicates
issuers or issues with the above average creditworthiness relative
to other domestic issuers.  The short-term Mexican National Scale
ratings of MX-2 indicate that the issuer has the above average
ability to repay short-term senior unsecured debt obligations
relative to other domestic issuers.

Interacciones is headquartered in Mexico City.  As of March 2010,
the bank had around Mx$74 billion in assets.

These senior debt ratings were assigned to Banco Interacciones,
S.A.'s Mx$10 billion Senior Debt Program:

  -- Long and short term global local currency senior debt
     ratings: Ba1/Not Prime, stable

  -- Mexican National Scale senior debt ratings: A1.mx/MX-2,
     stable

These long term senior debt ratings were assigned to Banco
Interacciones, S.A.'s first issuance of Mx$1 billion of
certificados de depĒsito bancario de dinero, issued under the
Program:

  -- Global local currency senior debt rating: Ba1
  -- Mexican National Scale senior debt rating: A1.mx


CORPORACION GEO: S&P Affirms 'BB-' Corporate Credit Rating
----------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'BB-' long-term corporate credit rating and its 'mxBBB+' national
scale rating on Corporacion Geo S.A.B. de C.V. with a negative
outlook.  At the same time, S&P assigned its 'BB-' senior
unsecured long-term debt rating to Geo's proposed up to
$250 million fixed-rate notes, to which S&P has also assigned a
recovery rating of '4', indicating S&P's expectation of average
(30%-50%) recovery in the event of a payment default.  Geo will
use proceeds of the issuance mainly to refinance short-term notes.

"S&P's ratings on Geo are limited by the company's aggressive
financial profile, as evidenced by its intense working capital
requirements needed to sustain its growth targets, which have
required increased external financing," said Standard & Poor's
credit analyst Laura Martinez.  "Geo's position as one of the
leading homebuilders in Mexico, its geographic diversification and
scale, and its diverse product line are positive ratings factors."

The negative outlook reflects S&P's concerns regarding Geo's high
levels of short-term debt and significant expected working capital
needs for the rest of the year.  "Once the completion of the
proposed bond issuance is reached and the company refinances its
short-term debt, S&P could change the outlook to stable.  However,
S&P could lower the rating if its negative FOCF generation is
greater than S&P's expectations, leading to deterioration in its
liquidity, or if additional external financing is required," Ms.
Martinez added.


EMPRESAS ICA: Raised to "Outperform" at Scotia Capital
------------------------------------------------------
Empresas ICA SAB de CV was raised to "Outperform" from "Sector
Perform" at Scotia Capital by equity Duran Y Casahonda on June 23,
2010, Bloomberg News reports.  The report relates that the target
price is US$12.70 per share.

Empresas ICA S.A.B. de C.V. offers engineering and construction
services.  The company builds dams, highways, airports, office
buildings, shopping centers, manufacturing facilities, and housing
projects, operates water distribution and treatment systems,
highways, and parking facilities, mines aggregates, operates
ports, and builds grain storage systems.

                         *     *     *

As of June 28, 2010, the company continues to carry Standard and
Poor's "BB-" issuer credit ratings.


GRUPO KUO: S&P Affirms 'BB-' Global Corporate Credit Ratings
------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings on Grupo KUO S.A.B. de C.V., including the 'BB-' global
scale and 'mxBBB+' national scale corporate credit ratings.

The outlook is stable.

"The ratings affirmation was prompted by the Mexico-based
conglomerate's reporting of 2009 and first-quarter 2010 financial
performance in line with S&P's expectations," said Standard &
Poor's credit analyst Laura Martinez.

The ratings on Kuo are limited by the low and volatile
profitability inherent to some of the core businesses in which it
operates and its relatively high financial leverage indicators, in
S&P's view.

However, the ratings are supported by the company's focus on
maintaining only profitable and value-added operations within its
business portfolio, its relatively comfortable debt maturity
schedule, and the continued implementation of cost reduction and
efficiency programs.

The stable outlook reflects S&P's expectation that Kuo will
continue to implement cost reduction and efficiency programs,
while focusing on value-added and profitable businesses, leading
to further improvements in its operating and financial profiles.


HIPOTECARIA SU: Moody's Downgrades Ratings on Certs. to 'Ba2'
-------------------------------------------------------------
Moody's de Mexico has downgraded Hipotecaria Su Casita, S.A. de
C.V. Sociedad Financiera de Objeto Multiple E.N.R.'s HSCCB 08
Senior Certificates to Ba2.mx from Baa3.mx (Mexican National
Scale).  At the same time, Moody's Investors Service downgraded
the certificates' Global Scale, Local Currency rating to B2 from
B1.  Moody's notes that the HSCCB 08 transaction is still
revolving and Su Casita can continue to assign new construction
loans to the trust.

The rating action is primarily based on Moody's recent downgrade
of Hipotecaria Su Casita's ratings coupled with the revolving
nature of the transaction.  On June 21, 2010, Moody's downgraded
Su Casita's global scale local currency issuer rating to B2 from
B1 and its national scale issuer rating to Baa3.mx from Baa1.mx.
The rating outlook on Su Casita's issuer ratings remains negative.

Under Moody's rating approach (updated in august 2009), and absent
certain structural protections detailed in Moody's new rating
methodology, Moody's considers the rating of revolving
construction loan securitizations to be highly linked to the
rating of the originator and servicer of the assets.  This is due
to the revolving nature of the transactions and the intensive
servicing efforts associated with construction loans.

The transaction has a slow pace of homes sales, pool amortization
and construction across certain projects.  As a result, many of
the loans included in the transaction are likely to require
extensions to their original maturity date, which increases the
risk that the loans may not fully amortize by the transaction's
final maturity date.  In addition, the transaction has a high
concentration of loans outside the low-income housing sector,
which may contribute to a slower pace of home sales as compared to
the low-income housing sector.

Moody's notes that the transaction's legal final maturity is in
March 2014, and that the revolving period ends 18 months prior to
the maturity date, at which point the certificates begin to
amortize.  Any additional loans added during the remaining
revolving period may also need extensions to their maturity dates,
given the current slowdown in sales and construction completion
rates.  As of June 2010, the senior certificates' had gross credit
enhancement of 20% in the form of overcollateralization and cash
holdings to protect against extension and default risk.

The B1 and Baa1.mx ratings of Su Casita's HSCCB 06 transaction
remain unchanged and were not impacted by the rating action.
HSCCB 06's securitized pool is static (no new loans can be added
to the transaction) and its legal final maturity date is in
September 2016.  However, Moody's will continue to closely monitor
the performance of the HSCCB 06 certificates given a noticeable
increase in delinquencies over the past six months.

                        Rating Methodology

                          Rating Action

The complete rating action is:

Originator and Servicer: Hipotecaria Su Casita, S.A. de C.V.
Sociedad Financiera de Objeto Multiple E.N.R.

Issuer: The Bank of New York Mellon, S.A., acting solely as
trustee.

  -- HSCCB 08 Series A Certificates: downgraded to Ba2.mx from
     Baa3.mx (Mexican National Scale) and to B2 from B1 (Global
     Scale, Local Currency).  The last rating action occurred on
     January 5, 2010 when the ratings were downgraded to Baa3.mx
     from Aaa.mx and to B1 from Baa1.



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


PETROLEOS DE VENEZUELA: Unit to Provide Technical Aid to JVs
------------------------------------------------------------
With the purpose of assisting in the extraction of medium and
light crude oil from the joint ventures located in the East of the
country, PDVSA Intevep, technical and scientific subsidiary of
Petroleos de Venezuela SA, will provide specialized technical
assistance and the necessary technology according to the oil
business value chain in order to meet the production quota that
each one has established.

This agreement was consolidated during the First Technical Meeting
between the state oil technological branch and joint ventures of
the East, an event held recently in the city of Maturin, Monagas
state.

Some of the Intevep technical processes that will contribute to
the joint ventures of the East will include: seismic
interpretation, artificial lift, exploitation schemes,
geomechanics, integrated studies, corrosion assessment, water
management, and joint evaluation with CVP for the certification of
companies services, among others.

For their part, representatives from the joint ventures of the
East presented to the Intevep's delegation the technical
requirements, in addition to the exposure of the El Salto Project,
Petrodelta; the Growth Plan Petroindovenezolana and the Adjourned
Production Petroritupano, intending to seek joint solutions with
the capacity and technological facilities of the oil subsidiary.

                           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"
local currency issuer rating.  The company also continues to carry
Standard and Poor's "B+" LT Issuer credit ratings.


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


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

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


ARGENTINA

SOC COMERCIAL PL    SCDPF US       135360486     -251112324
SNIAFA SA-B         SDAGF US        11229696    -2670544.88
AUTOPISTAS SOL      APDSF US       358937631    -3636032.25
SOC COMERCIAL PL    CAD IX         135360486     -251112324
SOC COMERCIAL PL    CVVIF US       135360486     -251112324
SOC COMERCIAL PL    CADN EO        135360486     -251112324
COMERCIAL PL-ADR    SCPDS LI       135360486     -251112324
SOC COMERCIAL PL    COME AR        135360486     -251112324
SOC COMERCIAL PL    CADN SW        135360486     -251112324
COMERCIAL PLA-BL    COMEB AR       135360486     -251112324
COMERCIAL PL-C/E    COMEC AR       135360486     -251112324
COMERCIAL PLAT-$    COMED AR       135360486     -251112324
SNIAFA SA           SNIA AR         11229696    -2670544.88
SNIAFA SA-B         SNIA5 AR        11229696    -2670544.88
AUTOPISTAS SOL      AUSO AR        358937631    -3636032.25
IMPSAT FIBER NET    IMPTQ US       535007008      -17165000
IMPSAT FIBER NET    330902Q GR     535007008      -17165000
IMPSAT FIBER NET    XIMPT SM       535007008      -17165000
IMPSAT FIBER-CED    IMPT AR        535007008      -17165000
IMPSAT FIBER-C/E    IMPTC AR       535007008      -17165000
IMPSAT FIBER-$US    IMPTD AR       535007008      -17165000
IMPSAT FIBER-BLK    IMPTB AR       535007008      -17165000


BRAZIL

DOC IMBITUBA-RTC    IMBI1 BZ        94039192    -39398915.1
DOC IMBITUBA-RTP    IMBI2 BZ        94039192    -39398915.1
TELECOMUNICA-ADR    81370Z BZ      244857050    -14105541.5
FABRICA TECID-RT    FTRX1 BZ        63036915      -59781833
PROMAN              PRMN3B BZ       13088926    -87154.5455
TEKA-ADR            TEKAY US       237346006     -337859942
BOMBRIL             BMBBF US       292257859     -115839632
TELEBRAS-PF RCPT    CBRZF US       244857050    -14105541.5
TEKA                TKTQF US       237346006     -337859942
TEKA-PREF           TKTPF US       237346006     -337859942
PET MANG-RIGHTS     RPMG1 BZ       111979912     -134952358
PET MANG-RIGHTS     RPMG2 BZ       111979912     -134952358
PET MANG-RECEIPT    RPMG9 BZ       111979912     -134952358
PET MANG-RECEIPT    RPMG10 BZ      111979912     -134952358
SANESALTO           SNST3 BZ        28244078    -875835.818
BOMBRIL-RGTS PRE    BOBR2 BZ       292257859     -115839632
BOMBRIL-RIGHTS      BOBR1 BZ       292257859     -115839632
TELEBRAS/W-I-ADR    TBH-W US       244857050    -14105541.5
LAEP-BDR            MILK11 BZ      446499199    -70952298.9
LAEP INVESTMENTS    LEAP LX        446499199    -70952298.9
BALADARE            BLDR3 BZ       157282424    -54153845.9
TEXTEIS RENAU-RT    TXRX1 BZ        63634626    -91597740.4
TEXTEIS RENAU-RT    TXRX2 BZ        63634626    -91597740.4
TEXTEIS RENA-RCT    TXRX9 BZ        63634626    -91597740.4
TEXTEIS RENA-RCT    TXRX10 BZ       63634626    -91597740.4
TELEBRAS SA-RT      TELB9 BZ       244857050    -14105541.5
CIA PETROLIF-PRF    MRLM4 BZ       377602195    -3014291.72
CIA PETROLIFERA     MRLM3 BZ       377602195    -3014291.72
NOVA AMERICA SA     NOVA3 BZ        21287489     -183535527
NOVA AMERICA-PRF    NOVA4 BZ        21287489     -183535527
PROMAN              PRMN3 BZ        13088926    -87154.5455
STEEL DO BRASIL     STLB3 BZ        24189041    -2271641.06
TELEBRAS SA         TELB3 BZ       244857050    -14105541.5
TELEBRAS SA         TLBRON BZ      244857050    -14105541.5
TELEBRAS SA         TBASF US       244857050    -14105541.5
TELEBRAS SA-PREF    TELB4 BZ       244857050    -14105541.5
TELEBRAS SA-PREF    TLBRPN BZ      244857050    -14105541.5
TELEBRAS-ADR        TBAPY US       244857050    -14105541.5
TELEBRAS-ADR        TBRAY GR       244857050    -14105541.5
TELEBRAS-CEDE PF    RCTB4 AR       244857050    -14105541.5
TELEBRAS-CED C/E    RCT4C AR       244857050    -14105541.5
TELEBRAS-CEDEA $    RCT4D AR       244857050    -14105541.5
TELEBRAS-CEDE BL    RCT4B AR       244857050    -14105541.5
TELEBRAS-ADR        TBH US         244857050    -14105541.5
TELEBRAS-ADR        TBX GR         244857050    -14105541.5
TELEBRAS-ADR        RTB US         244857050    -14105541.5
TELEBRAS-ADR        TBASY US       244857050    -14105541.5
TELEBRAS-RCT PRF    TELB10 BZ      244857050    -14105541.5
TELEBRAS-RTS CMN    RCTB1 BZ       244857050    -14105541.5
TELEBRAS-RTS PRF    RCTB2 BZ       244857050    -14105541.5
TELEBRAS-RTS CMN    TCLP1 BZ       244857050    -14105541.5
TELEBRAS-RTS PRF    TLCP2 BZ       244857050    -14105541.5
TELEBRAS-COM RT     TELB1 BZ       244857050    -14105541.5
TELEBRAS-CM RCPT    RCTB31 BZ      244857050    -14105541.5
TELEBRAS-CM RCPT    TELE31 BZ      244857050    -14105541.5
TELEBRAS-RCT        RCTB33 BZ      244857050    -14105541.5
TELEBRAS-CM RCPT    TBRTF US       244857050    -14105541.5
TELEBRAS-CM RCPT    RCTB32 BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    RCTB41 BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    TELE41 BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    RCTB42 BZ      244857050    -14105541.5
TELEBRAS-CEDE PF    TELB4 AR       244857050    -14105541.5
TELEBRAS-CED C/E    TEL4C AR       244857050    -14105541.5
TELEBRAS-CM RCPT    RCTB30 BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    RCTB40 BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    TBAPF US       244857050    -14105541.5
TELEBRAS-RECEIPT    TLBRUO BZ      244857050    -14105541.5
TELEBRAS-PF RCPT    TLBRUP BZ      244857050    -14105541.5
TELEBRAS-BLOCK      TELB30 BZ      244857050    -14105541.5
TELEBRAS-PF BLCK    TELB40 BZ      244857050    -14105541.5
TELEBRAS-CEDEA $    TEL4D AR       244857050    -14105541.5
ARTHUR LANGE        ARLA3 BZ        11642256    -17154461.9
ARTHUR LANGE SA     ALICON BZ       11642256    -17154461.9
ARTHUR LANGE-PRF    ARLA4 BZ        11642256    -17154461.9
ARTHUR LANGE-PRF    ALICPN BZ       11642256    -17154461.9
ARTHUR LANG-RT C    ARLA1 BZ        11642256    -17154461.9
ARTHUR LANG-RT P    ARLA2 BZ        11642256    -17154461.9
ARTHUR LANG-RC C    ARLA9 BZ        11642256    -17154461.9
ARTHUR LANG-RC P    ARLA10 BZ       11642256    -17154461.9
ARTHUR LAN-DVD C    ARLA11 BZ       11642256    -17154461.9
ARTHUR LAN-DVD P    ARLA12 BZ       11642256    -17154461.9
BOMBRIL             BOBR3 BZ       292257859     -115839632
BOMBRIL CIRIO SA    BOBRON BZ      292257859     -115839632
BOMBRIL-PREF        BOBR4 BZ       292257859     -115839632
BOMBRIL CIRIO-PF    BOBRPN BZ      292257859     -115839632
BOMBRIL SA-ADR      BMBPY US       292257859     -115839632
BOMBRIL SA-ADR      BMBBY US       292257859     -115839632
CAF BRASILIA        CAFE3 BZ        18540302     -790303366
CAFE BRASILIA SA    CSBRON BZ       18540302     -790303366
CAF BRASILIA-PRF    CAFE4 BZ        18540302     -790303366
CAFE BRASILIA-PR    CSBRPN BZ       18540302     -790303366
CHIARELLI SA        CCHI3 BZ        22274027    -44537138.2
CHIARELLI SA        CCHON BZ        22274027    -44537138.2
CHIARELLI SA-PRF    CCHI4 BZ        22274027    -44537138.2
CHIARELLI SA-PRF    CCHPN BZ        22274027    -44537138.2
DOC IMBITUBA        IMBI3 BZ        94039192    -39398915.1
DOCAS IMBITUBA      IMBION BZ       94039192    -39398915.1
DOC IMBITUB-PREF    IMBI4 BZ        94039192    -39398915.1
DOCAS IMBITUB-PR    IMBIPN BZ       94039192    -39398915.1
SCHLOSSER           SCLO3 BZ        13140656    -56631899.1
SCHLOSSER SA        SCHON BZ        13140656    -56631899.1
SCHLOSSER-PREF      SCLO4 BZ        13140656    -56631899.1
SCHLOSSER SA-PRF    SCHPN BZ        13140656    -56631899.1
D H B               DHBI3 BZ       133817651     -443044246
DHB IND E COM       DHBON BZ       133817651     -443044246
D H B-PREF          DHBI4 BZ       133817651     -443044246
DHB IND E COM-PR    DHBPN BZ       133817651     -443044246
DOCA INVESTIMENT    DOCA3 BZ       319046939     -119089653
DOCAS SA            DOCAON BZ      319046939     -119089653
DOCA INVESTI-PFD    DOCA4 BZ       319046939     -119089653
DOCAS SA-PREF       DOCAPN BZ      319046939     -119089653
DOCAS SA-RTS PRF    DOCA2 BZ       319046939     -119089653
ACO ALTONA          EALT3 BZ        80346370    -11622480.4
ACO ALTONA SA       EAAON BZ        80346370    -11622480.4
ACO ALTONA-PREF     EALT4 BZ        80346370    -11622480.4
ACO ALTONA-PREF     EAAPN BZ        80346370    -11622480.4
FABRICA RENAUX      FTRX3 BZ        63036915      -59781833
FABRICA RENAUX      FRNXON BZ       63036915      -59781833
FABRICA RENAUX-P    FTRX4 BZ        63036915      -59781833
FABRICA RENAUX-P    FRNXPN BZ       63036915      -59781833
HAGA                HAGA3 BZ        17657785    -62285757.3
FERRAGENS HAGA      HAGAON BZ       17657785    -62285757.3
FER HAGA-PREF       HAGA4 BZ        17657785    -62285757.3
FERRAGENS HAGA-P    HAGAPN BZ       17657785    -62285757.3
TECEL S JOSE        SJOS3 BZ        17924946    -18569451.2
TECEL S JOSE        FTSJON BZ       17924946    -18569451.2
TECEL S JOSE-PRF    SJOS4 BZ        17924946    -18569451.2
TECEL S JOSE-PRF    FTSJPN BZ       17924946    -18569451.2
CIMOB PARTIC SA     GAFP3 BZ        36817395    -33083086.5
CIMOB PARTIC SA     GAFON BZ        36817395    -33083086.5
CIMOB PART-PREF     GAFP4 BZ        36817395    -33083086.5
CIMOB PART-PREF     GAFPN BZ        36817395    -33083086.5
GAZOLA              GAZO3 BZ        12452143    -40298506.3
GAZOLA SA           GAZON BZ        12452143    -40298506.3
GAZOLA-PREF         GAZO4 BZ        12452143    -40298506.3
GAZOLA SA-PREF      GAZPN BZ        12452143    -40298506.3
GAZOLA-RCPTS CMN    GAZO9 BZ        12452143    -40298506.3
GAZOLA-RCPT PREF    GAZO10 BZ       12452143    -40298506.3
GAZOLA SA-DVD CM    GAZO11 BZ       12452143    -40298506.3
GAZOLA SA-DVD PF    GAZO12 BZ       12452143    -40298506.3
IGB ELETRONICA      IGBR3 BZ       145256033     -273857292
GRADIENTE ELETR     IGBON BZ       145256033     -273857292
GRADIENTE-PREF A    IGBR5 BZ       145256033     -273857292
GRADIENTE EL-PRA    IGBAN BZ       145256033     -273857292
GRADIENTE-PREF B    IGBR6 BZ       145256033     -273857292
GRADIENTE EL-PRB    IGBBN BZ       145256033     -273857292
GRADIENTE-PREF C    IGBR7 BZ       145256033     -273857292
GRADIENTE EL-PRC    IGBCN BZ       145256033     -273857292
HERCULES            HETA3 BZ        10710103     -164239944
HERCULES SA         HERTON BZ       10710103     -164239944
HERCULES-PREF       HETA4 BZ        10710103     -164239944
HERCULES SA-PREF    HERTPN BZ       10710103     -164239944
HOTEIS OTHON SA     HOOT3 BZ       238707299    -35774972.9
HOTEIS OTHON SA     HOTHON BZ      238707299    -35774972.9
HOTEIS OTHON-PRF    HOOT4 BZ       238707299    -35774972.9
HOTEIS OTHON-PRF    HOTHPN BZ      238707299    -35774972.9
RENAUXVIEW SA       TXRX3 BZ        63634626    -91597740.4
TEXTEIS RENAUX      RENXON BZ       63634626    -91597740.4
RENAUXVIEW SA-PF    TXRX4 BZ        63634626    -91597740.4
TEXTEIS RENAUX      RENXPN BZ       63634626    -91597740.4
PARMALAT            LCSA3 BZ       388720052     -213641144
PARMALAT BRASIL     LCSAON BZ      388720052     -213641144
PARMALAT-PREF       LCSA4 BZ       388720052     -213641144
PARMALAT BRAS-PF    LCSAPN BZ      388720052     -213641144
PARMALAT BR-RT C    LCSA5 BZ       388720052     -213641144
PARMALAT BR-RT P    LCSA6 BZ       388720052     -213641144
ESTRELA SA          ESTR3 BZ        61011894    -54580283.6
ESTRELA SA          ESTRON BZ       61011894    -54580283.6
ESTRELA SA-PREF     ESTR4 BZ        61011894    -54580283.6
ESTRELA SA-PREF     ESTRPN BZ       61011894    -54580283.6
RIOSULENSE SA       RSUL3 BZ        68368524    -9647727.04
RIOSULENSE SA       RSULON BZ       68368524    -9647727.04
RIOSULENSE SA-PR    RSUL4 BZ        68368524    -9647727.04
RIOSULENSE SA-PR    RSULPN BZ       68368524    -9647727.04
WETZEL SA           MWET3 BZ        84310496    -7570637.42
WETZEL SA           MWELON BZ       84310496    -7570637.42
WETZEL SA-PREF      MWET4 BZ        84310496    -7570637.42
WETZEL SA-PREF      MWELPN BZ       84310496    -7570637.42
MINUPAR             MNPR3 BZ        63223032    -58260845.7
MINUPAR SA          MNPRON BZ       63223032    -58260845.7
MINUPAR-PREF        MNPR4 BZ        63223032    -58260845.7
MINUPAR SA-PREF     MNPRPN BZ       63223032    -58260845.7
NORDON MET          NORD3 BZ        15427479    -20563974.4
NORDON METAL        NORDON BZ       15427479    -20563974.4
NORDON MET-RTS      NORD1 BZ        15427479    -20563974.4
NOVA AMERICA SA     NOVA3B BZ       21287489     -183535527
NOVA AMERICA SA     NOVAON BZ       21287489     -183535527
NOVA AMERICA-PRF    NOVA4B BZ       21287489     -183535527
NOVA AMERICA-PRF    NOVAPN BZ       21287489     -183535527
NOVA AMERICA-PRF    1NOVPN BZ       21287489     -183535527
NOVA AMERICA SA     1NOVON BZ       21287489     -183535527
PETRO MANGUINHOS    RPMG3 BZ       111979912     -134952358
PETRO MANGUINHOS    MANGON BZ      111979912     -134952358
PET MANGUINH-PRF    RPMG4 BZ       111979912     -134952358
PETRO MANGUIN-PF    MANGPN BZ      111979912     -134952358
RIMET               REEM3 BZ        63757622     -107162240
RIMET               REEMON BZ       63757622     -107162240
RIMET-PREF          REEM4 BZ        63757622     -107162240
RIMET-PREF          REEMPN BZ       63757622     -107162240
SANSUY              SNSY3 BZ       147187163    -86606310.8
SANSUY SA           SNSYON BZ      147187163    -86606310.8
SANSUY-PREF A       SNSY5 BZ       147187163    -86606310.8
SANSUY SA-PREF A    SNSYAN BZ      147187163    -86606310.8
SANSUY-PREF B       SNSY6 BZ       147187163    -86606310.8
SANSUY SA-PREF B    SNSYBN BZ      147187163    -86606310.8
BOTUCATU TEXTIL     STRP3 BZ        35101567    -13482713.5
STAROUP SA          STARON BZ       35101567    -13482713.5
BOTUCATU-PREF       STRP4 BZ        35101567    -13482713.5
STAROUP SA-PREF     STARPN BZ       35101567    -13482713.5
TEKA                TEKA3 BZ       237346006     -337859942
TEKA                TEKAON BZ      237346006     -337859942
TEKA-PREF           TEKA4 BZ       237346006     -337859942
TEKA-PREF           TEKAPN BZ      237346006     -337859942
TEKA-ADR            TKTPY US       237346006     -337859942
TEKA-ADR            TKTQY US       237346006     -337859942
VARIG SA            VAGV3 BZ       966298026    -4695211316
VARIG SA            VARGON BZ      966298026    -4695211316
VARIG SA-PREF       VAGV4 BZ       966298026    -4695211316
VARIG SA-PREF       VARGPN BZ      966298026    -4695211316
WIEST               WISA3 BZ        39838114    -93371563.1
WIEST SA            WISAON BZ       39838114    -93371563.1
WIEST-PREF          WISA4 BZ        39838114    -93371563.1
WIEST SA-PREF       WISAPN BZ       39838114    -93371563.1
FER C ATLANT        VSPT3 BZ       1.185E+09    -50468104.7
FER C ATLANT-PRF    VSPT4 BZ       1.185E+09    -50468104.7
FERROVIA CEN-DVD    VSPT11 BZ      1.185E+09    -50468104.7
FERROVIA CEN-DVD    VSPT12 BZ      1.185E+09    -50468104.7
FER C ATL-RCT CM    VSPT9 BZ       1.185E+09    -50468104.7
FER C ATL-RCT PF    VSPT10 BZ      1.185E+09    -50468104.7
CIA PETROLIFERA     MRLM3B BZ      377602195    -3014291.72
CIA PETROLIF-PRF    MRLM4B BZ      377602195    -3014291.72
CIA PETROLIFERA     1CPMON BZ      377602195    -3014291.72
CIA PETROLIF-PRF    1CPMPN BZ      377602195    -3014291.72
VARIG PART EM TR    VPTA3 BZ        49432124     -399290426
VARIG PART EM-PR    VPTA4 BZ        49432124     -399290426
VARIG PART EM SE    VPSC3 BZ        96617351     -460274609
VARIG PART EM-PR    VPSC4 BZ        96617351     -460274609


CHILE

CHILESAT CO-ADR     TL US          649980376    -82003656.5
CHILESAT CORP SA    TELEX CI       649980376    -82003656.5
CHILESAT CO-RTS     CHISATOS CI    649980376    -82003656.5
TELMEX CORP SA      CHILESAT CI    649980376    -82003656.5
TELEX-A             TELEXA CI      649980376    -82003656.5
TELMEX CORP-ADR     CSAOY US       649980376    -82003656.5
TELEX-RTS           TELEXO CI      649980376    -82003656.5


                            ***********

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 * * *