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

              Wednesday, August 4, 2010, Vol. 11, No. 152

                            Headlines



A R G E N T I N A

PETROBRAS ENERGIA: Veolia Eau Wins Water Treatment Contract
TELECOM ARGENTINA: To Hold 2Q Earnings Conference Call Today
TRANSPORTADORA DE GAS: Incurs ARS22.9 Million Net Loss in 2ndQ
* ARGENTINA: Prepares to Make US$2.2 Billion Payment


B R A Z I L

COSAN SA: Ethanol Sales Outside Brazil Fell 80%
EVEN CONSTRUTORA: Shareholders May Sell Stake
GOL LINHAS: Crew Plans 24-Hour Strike on August 13 Over Pay
TAM SA: To Open Back Office in Hong Kong
USINAS SIDERURGICAS: Banco BTG Cuts "Buy" Rating to "Neutral"


C A Y M A N  I S L A N D S

ADF CAPITAL: Creditors' Proofs of Debt Due on September 3
BANCO PRIVADO: Grand Court Enters Wind-Up Order
BLUE EAGLE: Creditors' Proofs of Debt Due on August 31
CORRELL CAPITAL: Creditors' Proofs of Debt Due on September 7
EQUITYSTAR GLOBAL: Creditors' Proofs of Debt Due on September 9

EQUITYSTAR GLOBAL: Creditors' Proofs of Debt Due on September 9
GALLEON ASIA: Creditors' Proofs of Debt Due on September 2
GALLEON QUANTITATIVE: Creditors' Proofs of Debt Due on September 2
GDF MANAGEMENT: Creditors' Proofs of Debt Due on August 27
GLACIER BAY: Creditors' Proofs of Debt Due on August 23

MARATHON RESOURCE: Creditors' Proofs of Debt Due on September 2
MARATHON RESOURCE: Creditors' Proofs of Debt Due on September 2
METAL OVERSEAS: Creditors' Proofs of Debt Due on August 24
NORTH STREET: Creditors' Proofs of Debt Due on September 2
NORTH STREET: Creditors' Proofs of Debt Due on September 2

R-ONE FUSHIMI: Creditors' Proofs of Debt Due on September 2
R-ONE NAKAGAWA: Creditors' Proofs of Debt Due on September 2
SKYIMPACT GP: Creditors' Proofs of Debt Due on September 2
TIAHUANACO LIMITED: Creditors' Proofs of Debt Due on September 2
WOORI ABSOLUTE: Creditors' Proofs of Debt Due on September 2


D O M I N I C A N  R E P U B L I C

AUTOPISTAS DEL NORDESTE: Fitch Affirms 'B' Rating on Senior Notes


M E X I C O

MEXICANA AIRLINES: Files for Bankruptcy in Mexico & U.S.
* MEXICO: Moody's Cuts Rating on Atizapan de Zaragoza to 'Ba2'


N I C A R A G U A

* NICARAGUA: IDB Approves US$40 Million Loan


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Forms Strategic Alliance With CVG




                         - - - - -


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


PETROBRAS ENERGIA: Veolia Eau Wins Water Treatment Contract
-------------------------------------------------------------
French utility Veolia Environnement SA said its water unit Veolia
Eau was awarded a water treatment contract for the offshore oil
production at the Petrobras Energia SA Papa Terra P63 project,
offshore Brazil, by QUIP SA, Geraldine Amiel at Dow Jones
Newswires reports.

According to the report, QUIP is the Brazilian company appointed
by oil major Petrobras to manage the supply and integration of the
floating production, storage and offloading unit.  The report
relates that the contract represents total estimated revenue of
around EUR30 million for Veolia Water.

                   About Petrobras Energia

Headquartered in Buenos Aires, Argentina, Petrobras Energia S.A.
-- http://www.petrobras.com.ar/-- is an integrated company
engaged in energy sector.  The company's activities are divided
into four segments.  The oil and gas exploration and production
segment is responsible for the acquisition, exploration and
maintenance of oil and gas reserves, as well as the production of
fuels.  The refining and distribution segment is engaged in the
refining of crude oils and their processing into lubricants.
It is represented by Refineria del Norte SA and Empresa
Boliviana de Refinacao SA.  The petrochemistry segment is engaged
in the production of styrene, polystyrene, rubber, fertilizers and
polypropylene through Innova SA and Petroquimica Cuyo SA.  The gas
and energy segment is involved in the production of gas and
electric energy, and energy transportation through Transportadora
de Gas del Sur SA.  The company also operates in Bolivia, Ecuador,
Peru, Colombia and Venezuela.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
May 10, 2010, Standard & Poor's Ratings Services affirmed its
'B+' ratings on Argentinean oil and gas company Petrobras Energia
S.A. following the announcement on the sale of refining and
marketing assets.  The outlook is stable.


TELECOM ARGENTINA: To Hold 2Q Earnings Conference Call Today
------------------------------------------------------------
Telecom Argentina will hold its second quarter 2010 earnings
conference call today, August 4, 2010, at 11:00 a.m. ET to 12:00
p.m. Buenos Aires at:

     http://www.videonewswire.com/event.asp?id=70843

The call will be archived at http://www.telecom.com.ar

Contact:

     Solange Barthe Dennin
     Telephone: (5411) 4968-3752
     Email: sbarthe@ta.telecom.com.ar

                      About Telecom Argentina

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- provides telephone-
related services, such as international long-distance service and
data transmission and Internet services, and through its
subsidiaries, wireless telecommunications services, international
wholesale services and telephone directory publishing.

                           *     *     *

As of January 12, 2010, the company continues to carry Standard
and Poor's "B-" long-term foreign issuer credit rating and "B"
long-term local issuer credit rating.  The company also continues
to carry Fitch Ratings' "B" long-term foreign currency issuer
default rating; "B+" long-term local issuer default rating; and
"B" senior unsecured debt rating.


TRANSPORTADORA DE GAS: Incurs ARS22.9 Million Net Loss in 2ndQ
--------------------------------------------------------------
Transportadora de Gas del Sur SA reported a second-quarter net
loss of ARS22.9 million (US$5.8 million), compared with a profit
of ARS24.6 million a year earlier, Taos Turner at Dow Jones
Newswires reports.

The report relates that company revenue was ARS384.8 million in
the second quarter, up from ARS337.9 million in the same period a
year ago.  According to the report, TGS said revenue was up in the
second quarter due to a tariff increase, but the company posted a
loss because there's a delay before it will actually be able to
receive that extra revenue.

The company, the report notes, said that a 20% tariff increase
came into effect in December 2009, which helped push up revenue in
the second quarter.  Nevertheless, most of the increase "will be
billed and cashed in the long-term in monthly installments with no
interest," TGS said, the report relates.

As a result, the report says, it took a financial charge of
ARS54.6 million during the quarter because of the time it will
take to actually receive the cash from the higher prices.

                   About Transportadora de Gas

Headquartered in Buenos Aires, Argentina, Transportadora de Gas
del Sur SA -- http://www.tgs.com.ar/-- is a transporter of
natural gas; having a 7,419-kilometer (4,610 miles) pipeline
system with a firm contracted capacity of 62.5 million cubic
meters per day (MMm3/d) with an installed power of 538.220
horsepower.  Substantially all of Transportadora de Gas' capacity
is subscribed for under firm long-term transportation contracts.
Transportadora de Gas is also a processor of natural gas and
marketer of natural gas liquids in Argentina.  The company
operates the General Cerri gas processing complex and the
associated Galvan loading and storage facility in Bahia Blanca in
the Buenos Aires Province where natural gas liquids are separated
from gas transported through the Company's pipeline system and
stored for delivery.  Transportadora de Gas is engaged in
midstream activities and the provision of telecommunication
services in Argentina.  The company operates the largest pipeline
transmission system in Argentina, which accounts for roughly 60%
of the country's total natural gas consumption.

                           *     *     *

As of May 11, 2010, the company continues to carry Moody's "B2"
long-term rating and senior unsecured debt rating.  The company
also continues to carry Fitch rating's "B" long-term FC issuer
default and senior unsecured debt ratings and "B+" long-term LC
issuer default ratings.


* ARGENTINA: Prepares to Make US$2.2 Billion Payment
----------------------------------------------------
Argentine dollar-denominated bonds due in 2012 are being
recommended by Bank of America Corp. as the government prepares to
make a US$2.2 billion payment, leaving 25% of the total issue
outstanding, Bloomberg News reports.

According to the report, Bank of America said prices for longer-
term bonds may decline as the government issues more of the
securities when it taps overseas debt markets for the first time
since its default in 2001.  The reports relates that the supply of
Argentine notes due in 2033 and 2035 will also increase as
investors who participated in Argentina's US$18.3 billion debt
restructuring in June receive the securities in exchange for
defaulted notes.

"I don't think Argentina is going to default or take the risk of
defaulting in the near term -- this is a safe allocation of
capital in terms of Argentine credit," the report quoted Laura
Tribuno, an emerging markets trader who buys and sells Argentine
debt with RBC Capital Markets, a unit of Canada's biggest bank, in
New York, as saying.

The report notes Economy Minister Amado Boudou said in June that
the government aimed to sell as much as US$1 billion of bonds due
in 2017 on international markets once yields fell below 10%.

Meanwhile, the report relates Siobhan Morden, head of Latin
America debt strategy with RBS Securities Inc., said that
Argentina may follow the payment with the sale of 2017 bonds in a
bid to "capture the reinvestment flow."  The government is
unlikely to swap the 2012 bonds for debt with longer maturities,
Ms. Morden told the news agency in a phone interview.  "This bond
will be paid and won't be exchanged," she added.

Argentina, the report notes, made an early payment of US$33.7
million to holders of the 2012 bonds in June 2009 as slowing
economic growth and a lack of access to international debt markets
increased the chances of default.  The government, the report
notes, used US$2.7 billion in central bank reserves, which are at
an all-time high of $51.1 billion, to pay off debt due this year.

                         *     *     *


As of July 2, 2010, the Argentina republic continues to carry
Moody's "Caa1" country ceiling long-term foreign bank deposit
rating and "B2" country ceiling long-term foreign currency debt
ratings.  The company also continues to carry Standard and Poor's
"B-" currency long-term debt ratings and "C" currency short-term
debt ratings.


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


COSAN SA: Ethanol Sales Outside Brazil Fell 80%
-----------------------------------------------
Louise Downing at Bloomberg News reports that Cosan S.A. Industria
& Comercio's sales of ethanol outside Brazil fell 80% from a year
ago in the fiscal first quarter ended in June.

According to the report, citing the company's preliminary results,
Cosan SA sold 49 million liters of ethanol outside its local
market in the first quarter of its 2011 fiscal year, which ends in
March, from 244 million liters for the same period last year.  The
report relates that this is a drop of some 195 million liters.

"Brazilian ethanol exports continue to be minimal this year as the
U.S. ethanol blend is being sourced locally, and Brazilian ethanol
demand locally has decreased in the period, due to higher local
prices," said Camila Ramos, an industry analyst at Bloomberg New
Energy Finance in London.

The report notes that Cosan SA sold less ethanol and sugar this
quarter than a year ago.  The report relates that revenue for
sugar climbed 27%, while revenues for ethanol declined 26%.

According to Bloomberg, a spokesman from Cosan declined to provide
any reason behind the figures until the results are published in
full on Aug. 13.

                        About Cosan S.A.

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

                          *     *     *

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


EVEN CONSTRUTORA: Shareholders May Sell Stake
---------------------------------------------
Even Construtora e Incorporadora SA's shareholders Terepins family
and Spinnaker fund are seeking to sell their stakes in the
Brazilian homebuilder, Telma Marotto at Bloomberg News reports,
citing Valor Economico newspaper.

According to the report, the newspaper said that the partners are
in advanced talks with potential buyers, including Brookfield
Incorporacoes SA and Gafisa SA.  The report relates Valor said
that Banco Itau BBA is helping the shareholders in the
transaction.

Valor newspaper, the report notes, said that members of the
Terepins family hold 11% of the company's shares, while Spinnaker
has a 21% stake.  An unnamed spokeswoman said that Even denied the
sale.

                      About Even Construtora

Even Construtora e Incorporadora SA is a holding company involved
in the real estate sector.  The Company is principally involved in
the acquisition, construction and sale of residential real estate
properties.

                           *     *     *

As of August 3, 2010, the company continues to carry Fitch
Rating's "B+" long-term issuer default ratings.


GOL LINHAS: Crew Plans 24-Hour Strike on August 13 Over Pay
-----------------------------------------------------------
Gol Linhas Aereas Inteligentes SA pilots and cabin crew plan to
strike for 24 hours on August 13 for a 25% pay rise, changes in
shift and better health insurance plans, Laura Price at Bloomberg
News reports, citing Folha de S. Paulo.

According to the report, the newspaper said that Gol Linhas had to
cancel flights this week because of an agreement with the National
Union of Aeronauts not to allow crew to exceed a certain number of
working hours.  The report, citing Infraero, the country's airport
authority, relates that about 56% of Gol Linhas's domestic flights
were delayed.  The report notes the newspaper said that Infraero
said the delays were caused by a new shift system, which led to a
shortage of available crew members.

                        About Gol Linhas

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

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
July 16, 2010, Moody's Investors Service raised its Corporate
Family and senior unsecured ratings for Gol Linhas Aereas
Inteligentes S.A. and Gol Finance to "Ba3" from "B1" reflecting
improved operating performance and financial flexibility
especially following the recent debt issuance.  The ratings
outlook is stable.

Ratings upgraded with a stable outlook:

Issuer: Gol Finance

-- 7.5% US$225 million senior unsecured notes due 2017: Ba3
-- 8.75% US$200 million senior unsecured perpetual notes: Ba3

Issuer: Gol Linhas Aereas Inteligentes S.A.

-- Corporate Family Rating: Ba3


TAM SA: To Open Back Office in Hong Kong
----------------------------------------
TAM SA is going to open a back office in Hong Kong by the end of
this year to promote the growth of its activities in Asia.  The
company currently has representative offices in South Korea,
India, Japan, Thailand and Taiwan.  Its new commercial structure
will also include a management office in China (Beijing and
Shanghai) and in Japan (Tokyo).

TAM serves several destinations in the Asian Continent by
codeshare agreements.  According to TAM SA's Commercial and
Planning Vice-President, Paulo Castello Branco, the company's
revenue in the Asian market is expected to increase over the next
years, based on the new structure in Asia and its local
representatives' effort, as well as TAM SA's entry into the Star
Alliance.

The activities to be carried out in Hong Kong will be managed by
Thierry Curey, currently business manager in Europe.  The new
office will be the third international back office, besides
similar facilities in Europe (Madrid) and in the United States
(Miami).

The business structure that TAM adopted is part of its expansion
strategy in the international market.  In addition to the back
offices, the company has representative offices in markets not
served by its own flights, also called offline bases.

"We firmly believe in our business model.  We had 18 offline bases
out of Brazil in the end of 2009 and are now present in 51 markets
in Europe, Asia and the Middle East, in addition to the offices in
countries served by our own flights", says Mr. Castello Branco.

                           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 May 20, 2010, the company continues to carry Standard and
Poor's "B+" long-term issuer credit ratings.  The company also
continues to carry Fitch Rating's "BB-" long-term issuer default
ratings.


USINAS SIDERURGICAS: Banco BTG Cuts "Buy" Rating to "Neutral"
-------------------------------------------------------------
Alexander Ragir at Bloomberg News reports that Banco BTG Pactual
cut the Usinas Siderurgicas de Minas Gerais's "buy" rating to
"neutral" on August, 2, 2010, citing "worsening earnings momentum"
in the second half of the year.

According to the report, Brazil Trade Ministry said it may lower
duties on some imported steel plates.  The report relates that
Brazil has lowered for six months import duties on some steel
plates used to produce capital goods for the petrochemicals
industry because of supply shortages.

"While results were in line with estimates, the outlook for the
coming quarters appears challenging, with declining volumes in the
domestic market and higher costs," wrote BTG analysts Edmo Chagas
and Antonio Heluany in a note obtained by the news agency.
International steel prices will likely rise in the second half of
the year, while Brazil steel prices are "less favorable" and
Usiminas will be hurt most by this given its dependence on sales
within the country, the analysts said, the report relates.

The analysts, the report adds, said that investors should switch
from Usiminas to other "more attractive" metals producers,
including Vale SA, Gerdau SA, or Cia. Siderurgica Nacional SA.

                     About Usinas Siderurgicas

Headquartered in Minas Gerais, Brazil, Usinas Siderurgicas do
Minas Gerais S.A. aka Usiminas -- http://www.usiminas.com.br-- is
principally engaged in the steel industry.  The company has a
production capacity of 4.7 million tons of crude steel per annum.
The company produces non-coated steel (including slabs, heavy
plates, hot- and cold-rolled sheets and coils) and galvanized
sheets and coils.  The company provides its products to the
automotive, piping, building and electrical/electronic and
agricultural and road machinery industries.  In addition to its
core business operations, it is also involved in the
commercialization, import and export of raw materials, steel
products and by-products; the provision of project development and
research services; the provision of personnel training services,
and the provision of mining, transportation, construction and
technical assistance services.  The company's products are sold in
Brazil, as well as exported to other Latin American countries, the
United States, China and South Korea, among others.

                           *     *     *

As of May 7, 2010, the company continues to carry Moody's "Ba1"
subordinate debt rating.


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


ADF CAPITAL: Creditors' Proofs of Debt Due on September 3
---------------------------------------------------------
The creditors of ADF Capital Management Ltd are required to file
their proofs of debt by September 3, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 8, 2010.

The company's liquidator is:

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


BANCO PRIVADO: Grand Court Enters Wind-Up Order
-----------------------------------------------
On July 9, 2010, the Grand Court of Cayman Islands entered an
order that voluntarily winds up the operations of Banco Privado
Portugues (Cayman) Limited.

The company's liquidators are:

         Ian Stokoe
         c/o Elizabeth Osborne
         Telephone: (345) 914-8686
         Facsimile: (345) 945-4237
         PO Box 258 Grand Cayman KY1-1104
         Cayman Islands


BLUE EAGLE: Creditors' Proofs of Debt Due on August 31
------------------------------------------------------
The creditors of Blue Eagle Re are required to file their proofs
of debt by August 31, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on May 12, 2010.

The company's liquidator is:

         Alan Noskow
         Alan M. Noskow Patton Boggs LLP
         8484 Westpark Drive, 9th Floor McLean
         Virginia 22102
         United States of America


CORRELL CAPITAL: Creditors' Proofs of Debt Due on September 7
-------------------------------------------------------------
The creditors of Correll Capital Caymans Limited are required to
file their proofs of debt by September 7, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 6, 2010.

The company's liquidator is:

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


EQUITYSTAR GLOBAL: Creditors' Proofs of Debt Due on September 9
---------------------------------------------------------------
The creditors of Equitystar Global Partners Master Fund Ltd are
required to file their proofs of debt by September 9, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on July 15, 2010.

The company's liquidator is:

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


EQUITYSTAR GLOBAL: Creditors' Proofs of Debt Due on September 9
---------------------------------------------------------------
The creditors of Equitystar Global Partners Ltd are required to
file their proofs of debt by September 9, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 15, 2010.

The company's liquidator is:

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


GALLEON ASIA: Creditors' Proofs of Debt Due on September 2
----------------------------------------------------------
The creditors of Galleon Asia Macro Fund, Ltd. are required to
file their proofs of debt by September 2, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 9, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


GALLEON QUANTITATIVE: Creditors' Proofs of Debt Due on September 2
------------------------------------------------------------------
The creditors of Galleon Quantitative Multi-Strategy Fund, Ltd.
are required to file their proofs of debt by September 2, 2010, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on July 9, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


GDF MANAGEMENT: Creditors' Proofs of Debt Due on August 27
----------------------------------------------------------
The creditors of GDF Management (Cayman) Limited are required to
file their proofs of debt by August 27, 2010, to be included in
the company's dividend distribution.

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

The company's liquidator is:

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


GLACIER BAY: Creditors' Proofs of Debt Due on August 23
-------------------------------------------------------
The creditors of Glacier Bay Offshore Fund Ltd. are required to
file their proofs of debt by August 23, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on June 4, 2010.

The company's liquidator is:

         Ogier
         c/o Shameer Jasani
         Telephone: (345) 815-1802
         Facsimile: (345) 949-9877
         c/o Ogier 89 Nexus Way
         Camana Bay Grand Cayman KY1-9007
         Cayman Islands


MARATHON RESOURCE: Creditors' Proofs of Debt Due on September 2
---------------------------------------------------------------
The creditors of Marathon Resource Partners II, Ltd. are required
to file their proofs of debt by September 2, 2010, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on June 30, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


MARATHON RESOURCE: Creditors' Proofs of Debt Due on September 2
---------------------------------------------------------------
The creditors of Marathon Resource Partners IV - Precious Metals
Fund, Ltd. are required to file their proofs of debt by
September 2, 2010, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on June 30, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


METAL OVERSEAS: Creditors' Proofs of Debt Due on August 24
----------------------------------------------------------
The creditors of Metal Overseas S.A. are required to file their
proofs of debt by August 24, 2010, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on July 14, 2010.

The company's liquidator is:

         Nicolas Burr
         San Francisco No. 4760, San Miguel
         Santiago, Chile
         Walkers Barnaby Gowrie
         e-mail: Barnaby.gowre@walkersglobal.com
         Telephone: +1 345 9146365
         Walkers, 87 Mary Street
         George Town Grand Cayman KY1-9001
         Cayman Islands


NORTH STREET: Creditors' Proofs of Debt Due on September 2
----------------------------------------------------------
The creditors of North Street Referenced Linked Notes, 2003-2A
Limited are required to file their proofs of debt by
September 2, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on July 13, 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


NORTH STREET: Creditors' Proofs of Debt Due on September 2
----------------------------------------------------------
The creditors of North Street Referenced Linked Notes 2002-1A
Limited are required to file their proofs of debt by September 2,
2010, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on July 12, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


R-ONE FUSHIMI: Creditors' Proofs of Debt Due on September 2
-----------------------------------------------------------
The creditors of R-One Fushimi Holdings are required to file their
proofs of debt by September 2, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 13, 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


R-ONE NAKAGAWA: Creditors' Proofs of Debt Due on September 2
------------------------------------------------------------
The creditors of R-One Nakagawa Holdings are required to file
their proofs of debt by September 2, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 13, 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


SKYIMPACT GP: Creditors' Proofs of Debt Due on September 2
----------------------------------------------------------
The creditors of Skyimpact GP Co. are required to file their
proofs of debt by September 2, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 13, 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


TIAHUANACO LIMITED: Creditors' Proofs of Debt Due on September 2
----------------------------------------------------------------
The creditors of Tiahuanaco Limited are required to file their
proofs of debt by September 2, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 8, 2010.

The company's liquidator is:

         Graham Robinson
         c/o Charmaine Cayasso
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P.O. Box 897, Windward 1, Regatta Office Park
         Grand Cayman KY1-1103, Cayman Islands


WOORI ABSOLUTE: Creditors' Proofs of Debt Due on September 2
------------------------------------------------------------
The creditors of Woori Absolute Asia Multi-Strategy Fund are
required to file their proofs of debt by September 2, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on July 13, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9005
         Cayman Islands


==================================
D O M I N I C A N  R E P U B L I C
==================================


AUTOPISTAS DEL NORDESTE: Fitch Affirms 'B' Rating on Senior Notes
-----------------------------------------------------------------
Fitch Ratings affirms Autopistas del Nordeste, C. por A.'s
underlying long-term senior secure notes at 'B'.  The notes mature
in 2026, secured by the Autopistas del Nordeste tolls revenues and
supported by the minimum revenue guarantee program provided by the
Government.  The Rating Outlook is Stable.

The rating action reflects: i) the Government's commitment to
honoring the MRG, which provides the required liquidity to the
structure in order to cover any cash shortfall for debt service;
ii) the financial guarantee provided by the Multilateral
Investment Guarantee Agency; iii) Congress approval on
concessionaire's Financial Closing records; iv) ability to modify
tariffs without regulatory interference from the Government of
Dominican Republic; and vi) a letter of credit of US$20 million at
the end of 2009 that has not been utilized since the GODR prompt
provision of the required financial support.

Credit concerns focus on: i) strong dependence on MRG to service
debt; ii) traffic volumes below Independent Engineer's pessimistic
projections; iii) traffic is forecasted to be low in 2011;
iv) willingness and ability of GODR to continue honouring the MRG
until traffic levels provide sufficient revenues to satisfy debt
service; and v) exposure to foreign exchange fluctuations.

So far the GODR has complied with their obligations to ensure the
MRG of the project; however, due to the track record of the GODR
in honouring debt with suppliers, contractors and other local
currency obligations, Fitch considers the MRG protection of the
project consistent with the 'B' rating.  In addition, as MIGA
political risk insurance covers up to 51% of the value of the
bonds, according to Fitch methodology regarding partial guarantee,
this is consistent with one-notch benefit from the standalone
basis.

Since the opening of all three toll road plazas in June 2008,
traffic volumes and revenues in Autopistas del Nordeste have been
significantly below projections.  Thus, increasing reliance on the
MRG provided by the Government of Dominican Republic, constrains
the rating at 'B'.

As of May 2010, although traffic continues to be lower than the IE
estimations, toll road averaged 3,300 vehicles per day at the
first toll plaza, 2,400 at the second toll plaza and 2,050 at the
third toll plaza.  When compared on a year-over-year basis with
2009, monthly traffic is slightly growing, which is consistent in
toll road projects during ramp-up periods.  Fitch believes that
unless there is significant growth in traffic in the following
years, the project will continue to be highly dependent on MRG to
amortize principal payments that start in 2013 through maturity
after the interest-only period.  The availability of the MRG is
commensurate with the Stable Rating Outlook of 2010.

Going forward, Fitch expects the MRG to remain the main source of
revenue source for at least the next three years, as traffic data
does not contain substantial elements to project higher
performance within the same period.  While current hotel capacity
expansion and higher industry activity are forecasted to improve
traffic volumes for the coming years, Fitch will continue to
monitor traffic level trends, industry growth, and the willingness
and ability of the Government to honour its obligation.


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


MEXICANA AIRLINES: Files for Bankruptcy in Mexico & U.S.
--------------------------------------------------------
Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
Monday.  In the U.S., the company filed in the U.S. Bankruptcy
Court in Manhattan for Chapter 15 bankruptcy protection (case
no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

CMA filed a "Concurso Mercantil" or insolvency petition with a
Mexico City district court to ensure the continued operation of
the Company.  CMA filed for Chapter 15 petition to obtain U.S.
bankruptcy protection and injunction relief in both countries.

Mexicana listed debt of more than US$1 billion in its bankruptcy
petition, according to Dow Jones Daily Bankruptcy Review.

The Associated Press reports the airline owes Mexican banks at
least MXN2.5 billion (US$199 million), Chief Executive Officer
Manuel Borja said at a news conference Monday.  Mr. Borja didn't
say what the company's total debt is.

William Heuer, Esq., a partner at Duane Morris' New York office,
is representing Mexicana in the matter.

In a statement, CMA said its costs, particularly those associated
to flight crews are well above industry average; such costs must
be brought into line with market conditions to allow the Company
to reach a restructuring agreement with its creditors to secure
its financial viability well into the future.

Since changing hands in 2006, CMA has made aggressive efforts to
boost productivity by expanding and renewing fleet, enhancing its
route network, as well as introducing state of the art
technologies.  These measures have translated into improved
operating efficiency, savings in excess of US$800 million and has
contributed resources superior to US$350 million.

Although these initiatives helped offset a sharp drop in demand
for air services due to the global financial crisis and the AH1N1
flu epidemic of 2009, the Company's current cost structure makes
it financially non-viable.  Consequently, CMA is negotiating new
collective labor contracts with its unions, and is confident they
will result in a positive outcome enabling the Company to continue
offering its customers world-class services at competitive fares.

                     Proposals to Labor Groups

Also on Monday, Mexicana said despite of investments of over
US$300 million in credit lines and resources put up by its parent,
Nuevo Grupo Aeronautico and its subsidiaries, MexicanaClick and
MexicanaLink, its current financial situation is no longer
tenable.  Concerted efforts have been made over the last four and
a half years to restructure costs, efforts that have translated
into savings of some US$800 million as a direct result of
investment in IT systems, new routes and more efficient aircraft,
but have not been sufficient to offset its crew costs.

Although the airline's operating costs excluding crew labor costs
are 30% lower than the average of legacy airlines in the United
States, these non competitive labor costs are the main reason why
the company has continued to suffer losses, to the extent that it
is now financially non-viable. According to company sources, CMA's
pilots earn 49% more than the average wage paid by legacy airlines
in the United States and 185% more than the average pilots flying
Airbus A320s for other Mexican low cost airlines like Volaris or
Interjet.  Likewise, Mexicana Airlines flight attendants earn 32%
more than the U.S. average and 165% more than their Mexican
counterparts employed by the same airlines.

Mexicana said that, numbers confirm, that if its collective
contracts had been more competitive, instead of registering losses
of US$350 million from 2007 to date, the company would have posted
profits of US$350 million, illustrating that CMA does indeed have
the potential to be a profitable, financially viable carrier.

In light of the current situation, CMA has presented its pilots'
and flight attendants' unions with two alternatives:

     -- The first is the option to enter into a new collective
        contract to secure the CMA's long-term financial
        viability. This would imply accepting cuts of 41% and 39%
        in wages and fringe benefits for pilots and flight
        attendants, respectively. This alternative also calls for
        additional cost-cutting measures, including downsizing 40%
        of the airline's pilots and flight attendants. On the
        upside, it incorporates a profit-sharing plan whereby the
        unions would get a percentage of any operating profits
        that exceed 5% of the company's total revenues.

     -- As a second alternative, stockholders have offered to sell
        CMA to its unions for the token sum of one peso, proving
        them convinced of the vital role these labor organizations
        will play in the future of the company.  As the only
        entities capable of turning the situation around, CMA's
        management have stated that it would be willing to
        transfer control of the airline to its unions. The
        transaction would require further and more detailed
        negotiations with the unions, but in broad terms would
        require NGA to assume liabilities of US$120 million in
        bank credit lines, while the unions would have the option
        of retaining a BANCOMEXT loan for US$80 million or
        transferring this credit line and its respective sureties
        to NGA. The unions would also be given a six-month permit
        for the use of the Mexicana Airlines brand name, among
        other measures designed to allow for a smooth transition.

In response to statements by representatives of the pilots union
to the effect that both proposals outlined by CMA would be
rejected, the company said that it is time to acknowledge reality,
that the paradigm of commercial aviation has changed worldwide and
that only airlines that operate at competitive costs can hope to
survive and continue flying.

Hugo Martin at Los Angeles Times reports that Lizette Clavel
Sanchez, the secretary general of Mexicana's flight attendants
union, said Tuesday that the airline's employees were willing to
keep negotiating with Mexicana, but only in "transparency and
without abuse."

Ms. Clavel said the airline's contention that Mexicana workers are
paid significantly more than those at other airlines in Mexico is
like "comparing pears and apples."

"Those are low-cost airlines that don't have the same service,
technology and flight times we do. Airlines like Volaris or
Interjet don't make flights longer than four hours.  We have
flights that are as long as 16 hours," Ms. Clavel said, according
to LA Times. "It is wrong to quantify our salaries that way."

                        Concurso Mercantil

The "Concurso Mercantil" is a Mexican legal resource that
guarantees the operation of companies that are unable to meet
their obligations, while protecting those companies they do
business with.  Similar to Chapter 11 of the United States
Bankruptcy Code and other similar legislations, this recourse
grants companies a reasonable timeframe in which to reorganize
themselves in an orderly manner while continuing to operate.

Under Mexican law, once the insolvency filing has been accepted,
the judge will order the Company to continue operating to ensure
services are not interrupted and that consumers are not adversely
affected.  The judge will also appoint an expert to oversee the
proceedings up to the conciliation phase, during which CMA will
attempt to reach a restructuring agreement with its creditors.

                          Request for TRO

Patrick Fitzgerald at Dow Jones Daily Bankruptcy Review reports
Mexicana is asking Judge Stuart M. Bernstein of the U.S.
Bankruptcy Court in Manhattan to issue a temporary restraining
order to bar creditors from seizing its assets in the U.S.

According to Dow Jones, Maru E. Johansen, Mexicana's U.S. vice
president of legal affairs and corporate affairs, said in court
papers a U.S. court order is necessary to block creditors from
throwing a wrench in the company's restructuring.  "The seizure of
even one aircraft, for example, could disrupt Mexicana's global
operations and potentially trigger or encourage the subsequent
exercise of remedies by other parties," Mr. Johansen said.

Dow Jones notes three Mexicana jets were seized on behalf of
leasing companies worried about payments in Canada and the U.S.
last week.

                         Business as Usual

Passengers will not be affected as part of the proceedings, since
CMA will continue to render services normally while it
restructures its liabilities and brings its costs into line with
market conditions.  CMA's sister domestic market airlines,
MexicanaClick and MexicanaLink, operate independently and will
therefore not be affected by the reorganization process.

CMA remains committed to its customers, commercial partners and
employees, and will keep all parties updated on the progress of
such restructuring process.

Compania Mexicana de Aviacion or Mexicana Airlines --
http://www.mexicana.com/-- is a privately held airline and a
subsidiary of Nuevo Grupo Aeronautico.  Founded in 1921, Mexicana
is the oldest commercial carrier in North America.  Charles
Lindbergh piloted the first trip for Mexicana between Brownsville,
Texas, and Mexico City.

Duane Morris may be reached at:

     William C. Heuer
     DUANE MORRIS LLP
     1540 Broadway
     New York, NY 10036-4086
     Telephone: 212-692-1070
     Facsimile: 212-208-4521
     E-mail: wheuer@duanemorris.com

Mexicana's spokesman may be reached at:

     Adolfo Crespo
     Telephone: 011 52 1 55. 5448-3296
     E-mail: adolfo.crespo@mexicana.com.mx


* MEXICO: Moody's Cuts Rating on Atizapan de Zaragoza to 'Ba2'
--------------------------------------------------------------
Moody's de Mexico downgraded the issuer rating of the Municipality
of Atizapan de Zaragoza to A2.mx (Mexico National Scale) from
A1.mx.  Moody's Investors Service downgraded the issuer rating of
the Municipality of Atizapan de Zaragoza to Ba2 (Global Scale,
local currency) from Ba1.  At the same time, Moody's also changed
the outlook on the issuer ratings to negative from stable.

The downgrade of the issuer ratings reflects the recent
deterioration of Atizapan's financial performance, on an absolute
basis and relative to peers.  This deterioration includes: 1) the
recording of sizable consolidated fiscal deficits in 2008 and
2009, 2) recent increases in debt metrics that diverge from
Moody's previous expectation of a gradual decline in debt burden,
and 3) a contraction in liquidity due to increases in accounts
payable and decreases in cash.

First, following minor cash financing surpluses recorded in 2005
and 2007, equivalent to 3.2% and 0.7% of total revenues,
respectively, Atizapan recorded cash financing requirements in
2006, 2008 and 2009, equivalent on average to -15.4% of total
revenues, a high level relative to the median of its peers.  The
sizable requirement recorded in 2008 (-25.4% of total revenues)
was driven by a pre-planned expansion of the municipality's
capital program (160% annual increase in capital expenditures),
while 2009's cash financing requirement of -13.0% was driven by a
slowdown in own-source revenues and operating pressures.

Second, as a result of these cash financing requirements,
Atizapan's net direct and indirect debt reached 43.6% of total
revenues in 2009, well above the median of Ba rated Mexican
municipalities.  Debt service costs (principal and interest
payments) reached a very high 9.7% of total revenues in 2009, also
well above the median for Ba rated Mexican municipalities.

Third, as a result of increases in payables to suppliers and short
term borrowings, combined with a substantial reduction in cash
reserves, net working capital (current assets less current
liabilities) decreased to -5.9% of total expenditures in 2009,
from a positive average of 22.2% registered from 2005 to 2008.  In
2010, the municipal government also announced a loss of
approximately MXN 50 million from investments in high-risk
financial instruments contracted by the previous administration.
Although this loss is not expected to have mid-term effects on
financial results, it represented roughly 5% of 2009 total
revenues and will exert further pressure on liquidity.

The negative outlook reflects challenges to redress this
deterioration over the near to medium term.  Specifically, given
the magnitude of recent cash financing requirements, in
conjunction with the deterioration in liquidity and debt metrics,
Atizapan faces significant challenges to rebalance municipal
finances over the near to medium term.  Although risks are more
heavily weighted to the downside, the negative outlook also
recognizes that the new administration, which took power in late
2009, plans to implement an expenditure austerity program and
initiatives to increase own-source revenue collection that may
redress fiscal challenges.

Over the next 12 to 18 months, Moody's will monitor the execution
of these plans to evaluate the extent to which they: 1) rebalance
fiscal outcomes, reducing annual borrowing needs, 2) ease debt
metrics from peak levels expected at the end of 2010, and
3) support a return to positive net working capital.

The last rating action on the Municipality of Atizapan was taken
on November 20, 2007, when Moody's assigned Aa2.mx (Mexico
National Scale Rating) and Baa2 (Global Scale, Local Currency)
ratings to a MXN430 million enhanced loan.


=================
N I C A R A G U A
=================


* NICARAGUA: IDB Approves US$40 Million Loan
--------------------------------------------
The Inter-American Development Bank approved a US$40 million loan
to finance the second phase expansion of the San Jacinto-Tizate
geothermal power project, which is being developed by a private
sector company, Polaris Energy Nicaragua S.A..

Once completed, the combined first phase and second phase
expansion will produce 72 MW (net), increasing Nicaragua's overall
electricity generating capacity by 7 percent through renewable
sources, thus providing a stable and low-cost supply of
electricity.

As the second operating geothermal power plant in Nicaragua, the
project will help demonstrate the viability of this renewable
source, and is expected to stimulate more private sector
investment in electricity generation.

Completion of the second phase expansion is scheduled for December
2011 at an estimated cost of US$177 million, which will be co-
financed by a group of multilateral lenders, including the IDB.

                         *     *     *

As of August 3, 2010, the country continues to carry Moody's
"Caa1" CC long-term foreign bank deposit rating, "B2" CC long-term
foreign currency debt rating and "B3" long term rating, currency
issuer ratings, and local currency long-term debt rating.


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


PETROLEOS DE VENEZUELA: Forms Strategic Alliance With CVG
---------------------------------------------------------
Patrick J. O'Donoghue at VHeadline News reports that Venezuelan
Guayana Corporation and Petroleos de Venezuela held a meeting to
consolidate a network of suppliers to supposedly eradicate
imports.

According to the report, CVG Industrial Development Vice President
Jose Luis Colmenares said that the move was strategic because it
could consolidate strategic alliances among state companies.  The
report relates that procurement managers from Sidor, Venealum,
Carbonarca, Bauxilum and Ferrominera Orinoco attended the first
session explaining their operational characteristics.  For PDVSA
the managers of these subsidiaries attended: Petroanzoategui,
Petrocedeno and Petropiar, the report adds.

                            About PDVSA

Petroleos de Venezuela -- http://www.pdvsa.com/-- is Venezuela's
state oil company in charge of the development of the petroleum,
petrochemical, and coal industry, as well as planning,
coordinating, supervising, and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                           *     *     *

As of March 8, 2010, the company continues to carry Moody's "Ba1"
local currency issuer rating.  The company also continues to carry
Standard and Poor's "B+" long-term issuer credit ratings.

As reported in the Troubled Company Reporter-Latin America on
January 25, 2010, Reuters said that Petroleos de Venezuela's total
debt jumped 42% in 2009 after it borrowed heavily to pay off
service company debts and intervene in currency markets.  The\
report related that PDVSA said that total outstanding debt rose to
US$21.4 billion from US$15.1 billion the year before.  According
to the report, PDVSA built up billions of dollars in debts to
service companies after the 2008 collapse of oil prices.


                            ***********

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 * * *