TCRLA_Public/100701.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

              Thursday, July 1, 2010, Vol. 11, No. 128

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INTERNATIONAL: Owner's Girlfriend Sued by Receiver


A R G E N T I N A

CHACRAS DEL MAR: Creditors' Proofs of Debt Due on August 23
ETICA IMPRESORA: Creditors' Proofs of Debt Due on September 15
FARMACIA ROMANA: Creditors' Proofs of Debt Due on August 31


B R A Z I L

BANCO SAFRA: Fitch Affirms Support Rating Floor at 'B+'
BRASIL FOODS: Ministry Recommends Cade to OK Perdiga-Sadia Merger
COMPANHIA ENERGETICA: Cut to "Neutral" From "Buy" at Goldman Sachs
GERDAU SA: Downgraded to "Sell" at Goldman Sachs
JBS SA: Seeks Acquisitions to Stay Ahead of Rival

JBS SA: Grace Kennedy Says No Recall for Local Corned Beef
LIGHT SA: Goldman Sachs Downgrades Recommendation for Firm's Share
* BRAZIL: May Sell Overseas Bond in Coming Weeks


C A Y M A N  I S L A N D S

ASTRAL RIDGE: Shareholders' Final Meeting Set for July 22
BAYWATER HOLDINGS: Shareholders' Final Meeting Set for July 22
BLUE LINE: Shareholders' Final Meeting Set for July 22
CEMS INC: Shareholders' Final Meeting Set for July 21
DRAGON IAM: Shareholders' Final Meeting Set for July 28

EQUATOR VIEW: Shareholders' Final Meeting Set for July 22
FYFE PARTNERS: Shareholders' Final Meeting Set for July 22
HARBOR BRIDGE: Shareholders' Final Meeting Set for July 22
IMAGE IAM: Shareholders' Final Meeting Set for July 28
JADE STREET: Shareholders' Final Meeting Set for July 22

MIRAGE IAM: Shareholders' Final Meeting Set for July 28
NEWTON IAM: Shareholders' Final Meeting Set for July 28
PARK VALLEY: Shareholders' Final Meeting Set for July 22
PHOENIX IAM: Shareholders' Final Meeting Set for July 28
PICO FUND: Shareholder to Hear Wind-Up Report on July 19

RONDO FUND: Shareholders' Final Meeting Set for July 23
SANGEN FUND: Shareholders' Final Meeting Set for July 22
SOLAR TREE: Shareholders' Final Meeting Set for July 22
THIRD POINT: Shareholders' Final Meeting Set for July 23
WAVE IAM: Shareholders' Final Meeting Set for July 28


C O L O M B I A

ECOPETROL SA: ODL to Invest US$230 Million to Boost Capacity
PACIFIC RUBIALES: ODL to Invest US$230 Million to Boost Capacity
TERMOEMCALI SA: Fitch Affirms 'B-' Rating on $153.7 Mil. Notes


J A M A I C A

CABLE & WIRELESS: LIME Delays New Increased Rates
OLINT CORP: Ex-Boss David Smith's Case Put Off Until September


M E X I C O

BBVA BANCOMER: S&P Affirms National Counterparty Credit Rating
EMPRESAS ICA: To Post Second Quarter Earning Results Next Week
OCEANOGRAFIA SA: Fitch Withdraws 'CC' Issuer Default Ratings


P U E R T O  R I C O

FIRSTBANK PUERTO RICO: Wins US$6.1 Million Foreclosure Lawsuit


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                         - - - - -


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


STANFORD INTERNATIONAL: Owner's Girlfriend Sued by Receiver
-----------------------------------------------------------
Robert Allen Stanford's girlfriend, Andrea M. Stoelker, is facing
a US$560,000 lawsuit from court appointed receiver Ralph Janvey,
who claimed that Ms. Stoelker received that amount in wages and
other payments from the Stanford Financial Group of Companies,
according to Bloomberg News.

Ms. Stoelker's services, including her work on Mr. Stanford's
Caribbean cricket subsidiary, were of no value to creditors, said
Kevin Sadler, lead attorney for Mr. Janvey, in papers filed in
federal court in Dallas that was obtained by the news agency.
"Any services performed by [Ms.] Stoelker were designed to further
the operations of the Ponzi scheme and may well have assisted Mr.
Stanford in attracting new victim investors," the report quoted
Mr. Sadler as saying.

Bloomberg notes Ms. Stoelker said in her own court filings that
she often accompanied Mr. Stanford on international business trips
and Las Vegas vacations.  The report relates that Ms. Stoelker
also sought, and was denied, the return of her personal belongings
taken from Mr. Stanford's yacht when his assets were frozen by
court order and turned over to Mr. Janvey in February 2009.

The lawsuit, the report says, claimed that Ms. Stoelker was
"unjustly enriched" while serving as president of both Stanford
Financial Group Global Management LLC and Stanford 20/20.  The
20/20 organization promoted a faster version of cricket, which the
financier hoped would attract a wider following to the sport, the
report says.

Mr. Janvey, the report relates, said that Ms. Stoelker received at
least US$140,000 from the cricket unit and another US$180,000 from
Mr. Stanford personally.

The case is Janvey v. Stoelker, 3:10-cv-01272, U.S. District
Court, Northern District of Texas (Dallas).

                 About Stanford International Bank

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

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

The U.S. Securities and Exchange Commission, on Feb. 17, 2009,
charged before the U.S. District Court in Dallas, Texas, Mr.
Stanford and three of his companies for orchestrating a
fraudulent, multi-billion dollar investment scheme centering on an
US$8 billion Certificate of Deposit program.  A criminal case was
pursued against him in June 2009 before the U.S. District Court in
Houston, Texas.  Mr. Stanford pleaded not guilty to 21 charges of
multi-billion dollar fraud, money-laundering and obstruction of
justice.  Assistant Attorney General Lanny Breuer, as cited by
Agence France-Presse News, said in a 57-page indictment that Mr.
Stanford could face up to 250 years in prison if convicted on all
charges.  Mr. Stanford surrendered to U.S. authorities after a
warrant was issued for his arrest on the criminal charges.  The
criminal case is U.S. v. Stanford, H-09- 342, U.S. District Court,
Southern District of Texas (Houston).  The civil case is SEC v.
Stanford International Bank, 3:09-cv-00298-N, U.S. District Court,
Northern District of Texas (Dallas).


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


CHACRAS DEL MAR: Creditors' Proofs of Debt Due on August 23
-----------------------------------------------------------
Estudio Alicia Kurlat-Andrea Cetrinas, the court-appointed trustee
for Chacras del Mar SA'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.  The National Commercial Court of First
Instance No. 8 in Buenos Aires, with the assistance of Clerk
No. 15, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Estudio Alicia Kurlat-Andrea Cetrinas
         Argentina


ETICA IMPRESORA: Creditors' Proofs of Debt Due on September 15
--------------------------------------------------------------
Ines Etelvina Clos, the court-appointed trustee for Etica
Impresora SA's reorganization proceedings, will be verifying
creditors' proofs of claim until September 15, 2010.

Ms. Clos 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. 8, 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.

Creditors will vote to ratify the completed settlement plan
during the assembly on June 23, 2011.

The Trustee can be reached at:

         Ines Etelvina Clos
         Sarmiento 944
         Argentina


FARMACIA ROMANA: Creditors' Proofs of Debt Due on August 31
-----------------------------------------------------------
Aldo Cambiaos, the court-appointed trustee for Farmacia Romana
SCS's bankruptcy proceedings, will be verifying creditors' proofs
of claim until August 31, 2010.

Mr. Cambiaos will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 51, 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:

         Aldo Cambiaos
         Lavalle 1459
         Argentina


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


BANCO SAFRA: Fitch Affirms Support Rating Floor at 'B+'
-------------------------------------------------------
Fitch Ratings has affirmed all ratings of Banco Safra S.A., Safra
Leasing S.A. - Arrendamento Mercantil, as well as its debenture
issuances.  The long-term Rating Outlook remains Stable.

Banco Safra S.A.

  -- Issuer Default Rating at 'BBB-'; Outlook Stable
  -- Short-term foreign currency IDR at 'F3'
  -- Long-term local currency IDR at 'BBB-', Outlook Stable;
  -- Short-term local currency IDR at 'F3';
  -- Individual rating at 'C';
  -- Long-term national rating at 'AA+(bra)', Outlook Stable;
  -- Short-term national rating at 'F1+(bra)';
  -- Support rating at '4';
  -- Support rating floor at 'B+'.

Safra Leasing S.A. - Arrendamento Mercantil

  -- Long-term national rating at 'AA+(bra)', Outlook Stable;
  -- Short-term national rating at 'F1+(bra)'.

Safra Leasing S.A. - 12th, 13th, 14th and 15th Issuance of
debentures

  -- Long-term national rating at 'AA(bra)'.

Banco Safra BRL300 million notes:

  -- Long term local currency rating at 'BBB-'.

The affirmation of Safra's ratings reflects the bank's capacity
and ability to manage risks and adapt its balance sheet during
periods of economic volatility, its consistent performance, with
conservative practices in managing credit exposures, and good
controls on its collateral stream.  On the other hand, the ratings
also consider its greater relative dependence on institutional and
large corporate funding and financial intermediation income, high
exposure to sovereign risk and optimization of its capital base,
which tends to pressure its leverage.  In Fitch's opinion, Safra's
ratings could be affected by an eventual deterioration in its loan
portfolio or its capitalization.  Conversely, they would benefit
from increased revenue diversification, which will be a challenge,
given Safra's business model and the competitive environment.

After surpassing the liquidity drought of 2008 with success,
thanks to a much more conservative posture on credit origination
and pricing, liquidity focused balance sheet management,
attraction of key new depositors, the sale of BRL1 billion of its
credit portfolio to other banks, and a strong liquidity position
prior to the crisis strike, Safra has resumed growth since the
second half of 2009 (2H'09).  With continuous focus on its core
business of providing credit facilities and services to SMEs, and
corporate clients, the bank expects to record a 23% growth in
credit during 2010.  Given Brazil's benign economic scenario,
Fitch expects that Safra will achieve a better performance, even
though with lower margins due to the return of fierce spread
competition and strong liquidity of local credit markets.

With an asset quality better than peers, Safra slightly increased
its impaired loans as share of total loans during the global
crisis from 3.7% in 2007 to 4.1% in 2008 declining to 3.4% in the
first quarter of 2010 (1Q'10).  Conservatism in managing
provisions is clearly attested by provisioning coverage, which
grew from 80.3% in 2007 to 92%/93% in 2009/1Q'10, remaining in
line with the peer average.  Although increased delinquency
compromised a larger portion of Safra's operating profit from 2007
to 2009, the bank still recorded overall provisioning expenses
lower than its peers.  Even with relative small fee revenues
cushion than its peers, Safra has presented return on assets (ROA)
and return on equity ratios which compares well with its local and
regional peers, maintaining its historically stable net
profitability.

With a policy of optimizing the use of its capital base, Safra
operates with a leveraged balance sheet, which also explains its
strong ROE.  With a minimum regulatory capital buffer of 12%,
which is considered tight by Fitch, Safra mitigates this leverage
with a strong liquidity, as cash and marketable securities have
historically surpassed total deposits.

Safra is 100%-controlled by the Joseph Safra family and was the
sixth-largest private bank in Brazil in terms of total assets and
equity at 1Q'10, which totaled respectively BRL62 billion and
BRL4.8 billion.  The bank and its subsidiaries offer a wide range
of banking services to large companies, SMEs, institutional
investors and high-income individuals.


BRASIL FOODS: Ministry Recommends Cade to OK Perdiga-Sadia Merger
-----------------------------------------------------------------
Brazil's finance ministry has recommended that the anti-trust
regulator Cade approve the merger of food companies Sadia SA and
Perdigao SA, which now make up Brasil Foods, Cesar Bianconi at
Reuters reports.  The report relates that the ministry said it
would recommend the merger go through with restrictions.

According to the report, Cade tends to follow the recommendations.

The report notes that although Sadia SA and Perdigao SA are
already operating under the common name and stock symbol of Brasil
Foods, many aspects of their businesses remain separate until Cade
gives the green light for a full merger of the companies'
divisions, debt and revenues.  The report relates that the
ministry said that there were multiple cases of market share
concentration in the joining of Perdigao SA and Sadia SA and
proposed options that would limit the anti-competitive effects of
the merger.

                     About BRF-Brasil Foods

BRF-Brasil Foods SA is a food processor in Latin America.  The
company raises chickens to produce poultry products.  Brasil foods
also processes frozen pasta, soybeans, and their derivatives, and
distributes frozen vegetables.  The company's core business is
chilled and frozen food.  The company has offices in the Middle
East, Asia, and Europe.

                           *     *     *
As of April 12, 2010, the company continues to carry Moody's Ba1
LT Corp Family rating.  The company also continues to carry
Standard and Poor's BB+ LT Issuer Credit Ratings.


COMPANHIA ENERGETICA: Cut to "Neutral" From "Buy" at Goldman Sachs
------------------------------------------------------------------
Goldman Sachs downgraded its recommendation for shares of
Companhia Energetica de Minas Gerais (Cemig), to neutral from buy
on June 29, 2010, Rogerio Jelmayer at Dow Jones Newswires reports.

"The market has continued to take a negative view on the potential
outcome of October elections (Cemig is controlled by the Minas
Gerais state government) and potential acquisitions, and the stock
has continued to underperform.  Multiple expansions seem unlikely
over the coming months as uncertainties will remain unresolved,"
the report quoted Goldman Sachs as saying.

Companhia Energetica de Minas Gerais a.k.a. Cemig --
http://www.cemig.com.br/-- is an electric energy utility in
Brazil.  Cemig's concession area extends throughout nearly 96.7%
of Minas Gerais.  Cemig owns and operates 52 power plants, of
which six are in partnership with private enterprises, relying
on a predominantly hydroelectric energy matrix.  Electric energy
is produced to supply more than 17 million people living in the
state's 774 municipalities.  In addition to those 52 plants,
another three are currently under construction.

Cemig is also active in several other states, through ventures
for the generation or the commercialization of energy in these
Brazilian states: in Santa Catarina (generation), Rio de Janeiro
(commercialization and generation), Espirito Santo (generation)
and Rio Grande do Sul (commercialization).

                           *     *     *

As of October 19, 2009, the company continues to carry Moody's Ba1
LC currency Issuer rating.


GERDAU SA: Downgraded to "Sell" at Goldman Sachs
------------------------------------------------
Goldman Sachs downgrades Gerdau S.A. from 'Neutral' to 'Sell' on
June 28, 2010, Street Insider reports.

According to the report, Goldman Sachs cited a lack of positive
catalysts and relatively expensive multiples given recent
outperformance.  The report relates that price target was reduced
from US$20.50 to US$13.90.

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.


JBS SA: Seeks Acquisitions to Stay Ahead of Rival
-------------------------------------------------
JBS SA is looking for acquisitions to stay ahead of a spree of
takeovers by rival Marfrig Alimentos, Guillermo Parra-Bernal at
Reuters reports, citing Valor Economico.  The report relates Valor
Economico said that JBS SA may seek to revive talks with U.S.
rival Smithfield Foods Inc. to grow into pork.  A deal would make
sense for Smithfield because of its delicate financial situation,
the newspaper added.

According to the report, Valor Economico said that JBS SA is
trying to stay head of Marfrig Alimentos, which has expanded
globally thanks to as many as 38 acquisitions in three years.

If JBS made an acquisition in 2010 it would be "of an asset that
expanded the company's position outside the plant gate," JBS SA
Chief Executive Joesley Mendonca Batista told Reuters in an
interview in February.  JBS expects sales from direct distribution
to eventually reach about 55% of its total sales, compared with
the present 10%, he added, the report relates.

                           About JBS SA

JBS SA is one of the world's largest beef producers with
operations in Brazil, the United States, Argentina, Australia and
Italy.  The company is the largest producer and exporter of fresh
meat and meat by-products in Brazil, Argentina and Australian and
the third largest in the USA.

                           *     *     *

As of April 28, 2010, the company continues to carry Moody's B1
long term rating, long-term corporate family rating, and senior
unsecured debt rating.  The company also continues to carry
Standard and Poor's B+ Issuer Credit ratings.


JBS SA: Grace Kennedy Says No Recall for Local Corned Beef
---------------------------------------------------------
Grace Kennedy Foods is seeking to assure the public that there is
no need to recall corned beef in Jamaica or any other markets
outside of the U.S., Gleaner/Power 106 News reports.  The report
relates that the assurance comes in the wake of the class 2 recall
of two brands of corned beef in the United States.

According to the report, Grace Foods said that the two affected
Grace brand batches are identifiable by the batch codes 100204 and
100205.   The report notes that these relate to production dates
February 4 and February 5, 2010 and were produced by the company
JBS SA in Sao Paulo, Brazil.

JBS SA, the report says, said that random testing of the product
had revealed that these two batches contained higher levels of
Ivermectin than is allowed by the United States Department of
Agriculture.  Ivermectin is an anti-parasitic treatment routinely
used to de-worm cattle.

However, the report discloses, JBS SA said that information
indicates that the levels of Ivermectin in the products are
miniscule and someone would have to consume an extremely large
amount of the product in a very short time to experience any kind
of illness.

                           About JBS SA

JBS SA is one of the world's largest beef producers with
operations in Brazil, the United States, Argentina, Australia and
Italy.  The company is the largest producer and exporter of fresh
meat and meat by-products in Brazil, Argentina and Australian and
the third largest in the USA.

                           *     *     *

As of April 28, 2010, the company continues to carry Moody's B1
long term rating, long-term corporate family rating, and senior
unsecured debt rating.  The company also continues to carry
Standard and Poor's B+ Issuer Credit ratings.


LIGHT SA: Goldman Sachs Downgrades Recommendation for Firm's Share
------------------------------------------------------------------
Goldman Sachs downgraded its recommendation for shares of the
local electric power utility Light SA to sell from neutral,
Rogerio Jelmayer at Dow Jones Newswires reports.

Light is 50% owned by Rio Minas Energia Participacoes, a
consortium of companies of which Cemig is a large stakeholder.

"We downgrade Light to sell mainly on relative valuation," the
report quoted Goldman Sachs as saying.  "We also think news flow
could disappoint, with a relatively weak second quarter likely,
(and) no signs of power losses being reduced before year-end," it
added.

Light S/A generates and distributes electricity in the Brazilian
State of Rio de Janeiro. The Company operates in the State of Rio
de Janeiro.

                          *     *     *

As of June 30, 2010, the company continues to carry Moody's "Ba1"
long term rating and LT corp family rating.


* BRAZIL: May Sell Overseas Bond in Coming Weeks
------------------------------------------------
Brazil's government may sell an overseas bond in the coming weeks,
Arnaldo Galvao at Bloomberg News reports, citing Treasury
Secretary Arno Augustin.

According to the report, Mr. Augustin said that the government has
not yet decided which bond will be offered.

                         *     *     *

Brazil continues to carry Moody's Rating Agency's "Ba1" local and
foreign currency ratings.


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


ASTRAL RIDGE: Shareholders' Final Meeting Set for July 22
---------------------------------------------------------
The shareholders of Astral Ridge Investments will hold their final
meeting on July 22, 2010, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 22
--------------------------------------------------------------
The shareholders of Baywater Holdings will hold their final
meeting on July 22, 2010, at 9:05 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 22
------------------------------------------------------
The shareholders of Blue Line Capital will hold their final
meeting on July 22, 2010, at 9:10 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 21
-----------------------------------------------------
The shareholders of Cems Inc. will hold their final meeting on
July 21, 2010, at 9:00 a.m., to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Susan Lo Yee Har
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman KYI-1102


DRAGON IAM: Shareholders' Final Meeting Set for July 28
-------------------------------------------------------
The shareholders of Dragon IAM Limited will hold their final
meeting on July 28, 2010, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


EQUATOR VIEW: Shareholders' Final Meeting Set for July 22
---------------------------------------------------------
The shareholders of Equator View Capital will hold their final
meeting on July 22, 2010, at 9:15 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 22
----------------------------------------------------------
The shareholders of FYFE Partners will hold their final meeting on
July 22, 2010, at 9:20 a.m., to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

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: Shareholders' Final Meeting Set for July 22
----------------------------------------------------------
The shareholders of Harbor Bridge Ltd. will hold their final
meeting on July 22, 2010, at 9:25 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 28
------------------------------------------------------
The shareholders of Image IAM Limited will hold their final
meeting on July 28, 2010, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


JADE STREET: Shareholders' Final Meeting Set for July 22
--------------------------------------------------------
The shareholders of Jade Street Capital will hold their final
meeting on July 22, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 28
-------------------------------------------------------
The shareholders of Mirage IAM Limited will hold their final
meeting on July 28, 2010, at 10:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


NEWTON IAM: Shareholders' Final Meeting Set for July 28
-------------------------------------------------------
The shareholders of Newton IAM Limited will hold their final
meeting on July 28, 2010, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


PARK VALLEY: Shareholders' Final Meeting Set for July 22
--------------------------------------------------------
The shareholders of Park Valley Asset Management will hold their
final meeting on July 22, 2010, at 9:55 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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


PHOENIX IAM: Shareholders' Final Meeting Set for July 28
--------------------------------------------------------
The shareholders of Phoenix IAM Limited will hold their final
meeting on July 28, 2010, at 10:15 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


PICO FUND: Shareholder to Hear Wind-Up Report on July 19
--------------------------------------------------------
The sole shareholder of Pico Fund Limited will receive on July 19,
2010, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Wilton McDonald
         Telephone: (345) 325-4040


RONDO FUND: Shareholders' Final Meeting Set for July 23
-------------------------------------------------------
The shareholders of Rondo Fund will hold their final meeting on
July 23, 2010, at 10:45 a.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


SANGEN FUND: Shareholders' Final Meeting Set for July 22
--------------------------------------------------------
The shareholders of Sangen Fund will hold their final meeting on
July 22, 2010, at 10:00 a.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

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: Shareholders' Final Meeting Set for July 22
-------------------------------------------------------
The shareholders of Solar Tree Investments will hold their final
meeting on July 22, 2010, at 10:05 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for July 23
--------------------------------------------------------
The shareholders of Third Point Resources Ltd. will hold their
final meeting on July 23, 2010, at 11:15 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


WAVE IAM: Shareholders' Final Meeting Set for July 28
-----------------------------------------------------
The shareholders of Wave IAM Limited will hold their final meeting
on July 28, 2010, at 11:15 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


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


ECOPETROL SA: ODL to Invest US$230 Million to Boost Capacity
------------------------------------------------------------
Colombian pipeline operator ODL will invest US$230 million to
boost its capacity to ship crude oil from the Meta and Casanare
provinces to the Caribbean coast for exports, Inti Landauro at Dow
Jones Newswires reports.  The report, citing a company statement,
relates that ODL will boost pumping capacity to 340,000 barrels a
day by June 2011 from 160,000 barrels a day now.

ODL is jointly owned by state-controlled company Ecopetrol SA,
which has a 65% stake in the company, and Pacific Rubiales Energy
Corp, which owns the remaining stakes.

"According to current projections, the pipeline would have enough
capacity for the next ten years," Rafael Belisario, the head of
ODL's operations, told the news agency in a telephone interview.
"Though depending on new discoveries in the area, we might need to
upgrade sooner than that," he added.

Dow Jones Newswires says that the company will invest in a pumping
station, tanks and other facilities and will lay a 27-kilometer
stretch of pipe to link its pipeline to Ecopetrol's Ocensa network
in the eastern province of Arauca.  The report relates that the
ODL pipeline will be able to pump oil to Ecopetrol's Ocensa
network in two different areas.

Mr. Belisario said that the work will start in late July, the
report notes.

The company, the report discloses, will finance the investment
with equity from its two shareholders and debt.  The report
relates that together Ecopetrol SA and Pacific Rubiales would
provide about 25% of the US$230 million.  Each partner would
provide funding in proportion to their respective stakes in the
joint-venture, the report adds.

                      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 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.


PACIFIC RUBIALES: ODL to Invest US$230 Million to Boost Capacity
----------------------------------------------------------------
Colombian pipeline operator ODL will invest US$230 million to
boost its capacity to ship crude oil from the Meta and Casanare
provinces to the Caribbean coast for exports, Inti Landauro at Dow
Jones Newswires reports.  The report, citing a company statement,
relates that ODL will boost pumping capacity to 340,000 barrels a
day by June 2011 from 160,000 barrels a day now.

ODL is jointly owned by state-controlled company Ecopetrol SA,
which has a 65% stake in the company, and Pacific Rubiales Energy
Corp, which owns the remaining stakes.

"According to current projections, the pipeline would have enough
capacity for the next ten years," Rafael Belisario, the head of
ODL's operations, told the news agency in a telephone interview.
"Though depending on new discoveries in the area, we might need to
upgrade sooner than that," he added.

Dow Jones Newswires says that the company will invest in a pumping
station, tanks and other facilities and will lay a 27-kilometer
stretch of pipe to link its pipeline to Ecopetrol's Ocensa network
in the eastern province of Arauca.  The report relates that the
ODL pipeline will be able to pump oil to Ecopetrol's Ocensa
network in two different areas.

Mr. Belisario said that the work will start in late July, the
report notes.

The company, the report discloses, will finance the investment
with equity from its two shareholders and debt.  The report
relates that together Ecopetrol SA and Pacific Rubiales would
provide about 25% of the US$230 million.  Each partner would
provide funding in proportion to their respective stakes in the
joint-venture, the report adds.

                      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 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.


TERMOEMCALI SA: Fitch Affirms 'B-' Rating on $153.7 Mil. Notes
--------------------------------------------------------------
Fitch ratings affirms TermoEmcali's $153.7 million restructured
senior secured notes due on 2019 at 'B-'.  The Rating Outlook
Stable.

The rating action reflects Termoemcali's adequate operational
performance and its ability to cover plant operational expenses
during the last two years.  In addition, the project has benefited
from an increase in revenues primarily from reliability payments,
energy and gas sales.  The reliability payments generated from the
Colombian electric sector are dependent on the plant's capacity
and availability, fuel flexibility, and strength of the fuel
supply and transportation contracts.  The current plant's capacity
is 170MW and it has generated revenues of US $17.800 millions and
US $16.755 millions during 2008 and 2009, respectively.  During
2009 and the first quarter of 2010 factors such as drought
conditions in the country as well as high energy demand from
Ecuador, have increased revenues from energy generation
substantially.  Consequently, this situation has further decreased
TermoEmcali's dependency on Tranche E payments from Emcali (rated
CCC with Stable Outlook by Fitch) to meet it debt service
obligation.  During the last three years the average debt service
coverage ratio has been around 1.4.

Although TermoEmcali has long term fixed-price fuel supply
contracts, as a peaking unit it generates minimal electricity,
resulting in reduced fuel usage.  Excess fuel is sold to a third
party under a fixed price agreement, generating positive cash flow
which is viewed favorably by Fitch.  TermoEmcali has fixed price
contracts for natural gas supply with Ecopetrol (rated 'BB+',
Stable Outlook by Fitch) through Jan. 1, 2015, and for #2 fuel oil
with Exxon Mobil (rated 'AAA' by Fitch) until 2014.  Fitch views
that even in the absence of Tranche E payments from Emcali,
cashflows from reliability payments and gas sales should be able
to meet the debt service obligations.

To date, Emcali has honored the Tranche E payments on a monthly
basis to Termoemcali, in accordance with the 2005 debt
restructuring.  For 2009, the debt service coverage ratio was
approximately 0.76 times, without cash reserves, and 2.55x with
cash generated in previous years.  Fitch believes that the ongoing
financial performance of the project will continue to remain
stable.

Termoemcali Leasing, Ltd. is engaged in the ownership of certain
equipments that have been incorporated into a natural gas-fired,
233.8 (net) MW electric generating facility constructed near
Santiago de Cali, Colombia (rated 'BB+', Stable Outlook by Fitch).
Termoemcali I S.A. E.S.P. has developed the Facility and has
leased equipment from Leaseco.  The debt was issued on behalf of
Leaseco and the company by Termoemcali Funding corp

Given a public announcement on May 2010, Ashmore, one of the
world's investment managers dedicated to emerging markets, won the
tender to take over Termoemcali with a bid of 373 billions COP.
Once the acquisition is completed, Ashmore will become the main
shareholder of TermoEmcali effective at the end of July 2010 As a
condition to the winning bid, TermoEmcali's outstanding debt will
be paid down with the proceeds of the bid.  As a result, Fitch
expects the project's remaining debt outstanding to be fully
repaid on June 30, 2010.


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


CABLE & WIRELESS: LIME Delays New Increased Rates
-------------------------------------------------
Cable and Wireless' LIME will be applying small increases to
mobile outbound roaming rates and to the Internet monthly charge
effective September 1, 2010, and not on June 1, 2010, and July 1,
2010, as was previously advertised, Virgin Islands Platinum News.

According to the report, the company noted that to safeguard the
interests of the BVI consumers and to address concerns of the
Telecommunications Regulatory Commission, LIME is taking steps to
ensure LIME customers and the general public are provided
sufficient time to understand how they may be affected by the new
rates and the opportunity to make informed decisions should they
wish not to continue service with LIME as a result of the price
increases.

The report notes that LIME's announcement of the new effective
date of September 1, 2010, is designed to give customers
sufficient notice of these small increases; and the opportunity to
terminate their contracts for broadband services without early
termination fees, before the new price increases come into effect.

Earlier this month, the report relates, the TRC requested Cable
and Wireless (BVI) Limited (LIME) to provide clarifications on
LIME's announcement to increase tariffs for broadband internet and
outbound mobile roaming services.

Errol Miller, Regional Vice President Corporate Communications had
told BVI Platinum News that the increases are essential at this
stage.  Mr. Miller said that in all the cases, the increases are
between five to seven percent, the report relates.

                          About LIME

LIME (Landline, Internet, Mobile, Entertainment), is a
communications provider owned by the British based Cable &
Wireless Communications plc operating in Anguilla, Antigua &
Barbuda, Barbados, British Virgin Islands, Cayman Islands,
Dominica, Grenada, Jamaica, Montserrat, St. Kitts & Nevis, St.
Lucia, St. Vincent & the Grenadines and Turks & Caicos in the
Caribbean.

                     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.


OLINT CORP: Ex-Boss David Smith's Case Put Off Until September
--------------------------------------------------------------
The fraud case against former OLINT Corp. Limited boss David Smith
has been adjourned until September 23, 2010, RadioJamaica reports,
citing Mr. Olint's attorney Oliver Smith.

According to the report, David Smith appeared in the Supreme Court
in the Turks and Caicos Islands on June 28, 2010, to answer
several charges arising from the collapse of the unregulated
investment club in 2008.

As reported in the Troubled Company Reporter-Latin America on
October 16, 2009, RadioJamaica said that Mr. Smith was put to jail
in the Turks and Caicos Islands, after being arrested on September
28 in the neighboring Caribbean territory.  According to a TCRLA
report on June 16, 2009, citing Caribbean Net News, said Florida
resident Christopher Walker sued the several parties for their
involvement in (OLINT)'s operations.  The report related
Mr. Walker, who is claiming that he was defrauded in the company's
"get-rich-quick scheme", is seeking US$2.4 million in damages.

According to the report, Mr. Walker's complaint involved these
defendants:

  -- Hallmark Bank & Trust Ltd;
  -- Hallmark CEO and Chairman Attorney Brian Trowbridge;
  -- Overseas Locket International Corporation;
  -- OLINT Principal David Smith;
  -- Wayne Smith, David Smith's brother and an
     employee of OLINT;
  -- Turks and Caicos Islands Premier Michael Misick
  -- The Turks and Caicos Islands Investment
     Agency, which "encourages foreign investment in
     the Turks & Caicos Islands"; and
  -- MasterCard Worldwide and MasterCard International
     LLC, which provide card services to Hallmark Bank.

                       About Olint Corp.

Olint Corp. Limited is an investment scheme based in Jamaica.
It has operations in Turks & Caicos and the U.S.  It has been
facing legal problems since 2006 when the Financial Services
Commission served a cease-and-desist order on the firm.  On
Dec. 24, 2007, the court ruled that the operations of Olint
breached provisions of the Securities Act.  The firm had been
dealing in securities and engaging in the participation of a
profit-sharing agreement, issuing investment contracts, and
providing advice to potential investors without licenses and
registration.  Olint appealed the ruling and was granted a stay
of execution of the cease-and-desist order until the appeal was
heard in February 2008.  In May 2008, the National Commercial
Bank Jamaica Limited attempted to close three Olint accounts in
the bank.  However, Olint secured an injunction from the court
barring the National Commercial from closing the accounts.
Olint has suspended payments to its members since early this
year.


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


BBVA BANCOMER: S&P Affirms National Counterparty Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its
ratings, including the 'BBB/A-3' global scale and 'mxAAA/mxA-1+'
national scale counterparty credit ratings, on Mexico-based
universal bank BBVA Bancomer S.A.  The bank recently announced it
will call its $500 million nonpreferred subordinated notes due
2015, which S&P affirmed at 'BB+', on July 22, 2010.  The outlook
remains stable.

"The ratings on BBVA Bancomer continue to reflect the bank's
adequate stand-alone creditworthiness, notably its sound market
position, adequate recurrent earnings and profitability, and good
financial performance over the past three years," said Standard &
Poor's credit analyst Arturo S nchez.  "Somewhat offsetting these
factors are S&P's concerns about the bank's asset quality, which
has deteriorated over the past two years, and a higher loan-to-
deposit ratio than its main peers with similar ratings."

BBVA Bancomer is considered a strategically important subsidiary
of its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA;
AA/Negative/A-1+).

However, S&P's ratings on the bank are based on its stand-alone
creditworthiness -- including the benefits of the risk management,
systems, and procedures it gets from its parent.  They also
receive no uplift from the bank's strategically important status
to BBVA, reflecting BBVA Bancomer's stand-alone credit profile.


EMPRESAS ICA: To Post Second Quarter Earning Results Next Week
--------------------------------------------------------------
Empresas ICA S.A.B. de C.V. will release its second quarter
earning results on July 7, 2010.

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.


OCEANOGRAFIA SA: Fitch Withdraws 'CC' Issuer Default Ratings
------------------------------------------------------------
Fitch Ratings has withdrawn all ratings of Oceanografia S.A. de
C.V. given the lack of information provided by the company;
consistent with Fitch's policies.  Fitch will no longer provide
ratings or credit research on this issuer.  Oceanografia is a
privately held marine contracting service company that provides
marine services to PEMEX, the national oil company of Mexico.

Fitch has withdrawn Oceanografia's ratings:

  -- Foreign currency Issuer Default Rating 'CC';
  -- Local currency IDR 'CC';
  -- US$335 million senior secured notes due 2015 'CCC/RR3'.

All of these ratings are on Rating Watch Negative.


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


FIRSTBANK PUERTO RICO: Wins US$6.1 Million Foreclosure Lawsuit
--------------------------------------------------------------
FirstBank Puerto Rico has won a US$6.1 million foreclosure lawsuit
against the owner of the Shamrock Condominium in Kendall, West
Kendal Today reports, citing the South Florida Business Journal.

According to the report, the bank won the judgment against C&R
Properties at Kendall and managing member Carlos Z. Chuman based
on a US$5.8 mortgage plus interest and fees.

The report says that a Sept. 20 foreclosure auction was set for
the 36 units in the Shamrock project, at 12605 SW 91st St.  The
complex has five buildings, but no sales were recorded, the report
relates.

                     About First BanCorp

FirstBank Puerto Rico is a state chartered commercial bank with
operations in Puerto Rico, the Virgin Islands and Florida; of
FirstBank Insurance Agency; and of Ponce General Corporation.
FirstBank Puerto Rico operate within U.S. Banking laws and
regulations.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
October 9, 2009, Fitch Ratings downgraded the ratings of
FirstBank of Puerto Rico to 'B' from 'BB' and the Individual
rating to 'D' from 'C/D'.  The Rating Outlook is Negative.


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


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

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

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

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

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

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

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

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

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

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


                            ***********

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

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

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

                            ***********


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

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


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

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

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

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


           * * * End of Transmission * * *