TCRLA_Public/100811.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

              Wednesday, August 11, 2010, Vol. 11, No. 157

                            Headlines



A R G E N T I N A

CLINICA DEL: Creditors' Proofs of Debt Due on September 1
EXPORPET SA: Creditors' Proofs of Debt Due on September 23
GABIKAR SRL: Creditors' Proofs of Debt Due on September 17
TELECOM ARGENTINA: Telecom Italia Settles Dispute Over Firm
VICUATOL SACI: Creditors' Proofs of Debt Due on September 27


B E R M U D A

MARINER REINSURANCE: Members' Final Meeting Set for August 9


B R A Z I L

ALL AMERICAN: Records BRL136.4 Million Net Income in 2nd Qtr.
GOL LINHAS: Incurs BRL51.9 Million Net Loss in Second Qtr


C A Y M A N  I S L A N D S

ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
CORRELL CAPITAL: Shareholders' Final Meeting Set for September 7
EGB CAYMAN: Shareholders' Final Meeting Set for September 3

EQUITYSTAR GLOBAL: Shareholders' Final Meeting Set for September 9
EQUITYSTAR GLOBAL: Shareholders' Final Meeting Set for September 9
GALLEON ASIA: Shareholders' Final Meeting Set for September 3
GALLEON QUANTITATIVE: Shareholders' Final Meeting Set for Sept. 3
HEALTHALPHA FUND: Shareholders' Final Meeting Set for September 3

INT GROUP: Shareholders' Final Meeting Set for September 13
LB CCP: Shareholders' Final Meeting Set for September 3
METAL OVERSEAS: Shareholders' Final Meeting Set for September 1
NORTH STREET: Shareholders' Final Meeting Set for September 3
PMI CDS: Shareholders' Final Meeting Set for September 2

R-ONE NAKAGAWA: Shareholders' Final Meeting Set for September 3
RAB ENERGY: Shareholders' Final Meeting Set for September 3
SKYIMPACT GP: Shareholders' Final Meeting Set for September 3
TIAHUANACO LIMITED: Shareholders' Final Meeting Set for Aug. 23
WOORI ABSOLUTE: Shareholders' Final Meeting Set for September 3

ZENO PRIME: Shareholders' Final Meeting Set for September 3


M E X I C O

CONTROLADORA COMERCIAL: Mexican Judge Accepts Bankruptcy Petition
MEXICANA AIRLINE: Pilots Union Will Defer Salaries, Benefits
MEXICANA AIRLINE: Pilots, Investors Discuss Plan for Firm


P E R U

BANCO DE CREDITO: Grants US$120MM Loan to SN Power Peru


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Strike at Isla Refinery Ends


V I R G I N  I S L A N D S

CABLE & WIRELESS: Has New VP for LIME Imagineering & Product Devt
TRISTAN OIL: Moody's Withdraws 'C' Corporate Family Rating




                         - - - - -


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


CLINICA DEL: Creditors' Proofs of Debt Due on September 1
---------------------------------------------------------
The court-appointed trustee for Clinica del Diagnostico Privada
Sanagec S.R.L.'s bankruptcy proceedings will be verifying
creditors' proofs of claim until September 1, 2010.

The trustee will present the validated claims in court as
individual reports on October 15, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
November 29, 2010.


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

The trustee will present the validated claims in court as
individual reports on November 5, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 20, 2010.


GABIKAR SRL: Creditors' Proofs of Debt Due on September 17
----------------------------------------------------------
The court-appointed trustee for Gabikar S.R.L.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
September 17, 2010.

The trustee will present the validated claims in court as
individual reports on November 19, 2010.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

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

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
December 13, 2010.


TELECOM ARGENTINA: Telecom Italia Settles Dispute Over Firm
-----------------------------------------------------------
Telecom Italia is seeking permission from the Argentinean
government to increase its stake in Telecom Argentina after
reaching a deal that settles the long running dispute with the
Werthein Group, Reuters reports.  The Werthein Group (48%) and
Telecom Italia (50%) control a holding company, Sofora
Telecomunicaciones which in turn controls Telecom Argentina.  The
remaining 2% stake is held by France Telecom.

As reported in the Troubled Company Reporter-Latin America on
January 12, 2010, Total Telecom News said that Telecom Italia must
get out of Argentina by February 25, 2010, or face government
intervention in the sale of its stake in Telecom Argentina S.A.
Dow Jones Newswires related that Argentina's National Antitrust
Commission has given Telecom Italia one year to divest its stakes
in Telecom Argentina, due to a conflict of interest.  According to
the report, CNDC said that Spain's Telefonica SA's minority stake
in Telecom Italia creates a conflict between the two companies'
Argentine operations.  Telefonica owns Telefonica Argentina, which
shares an effective duopoly over the Argentine telecommunications
sector with Telecom.

According to Reuters, Telecom Italia had reached a deal with The
Werthein Group that ended all disputes between the partners.
"They have expressed the intention to increase their stake and
they are going to bring this up . . . in an application to the
government," Adrian Werthein, a director of the Werthein Group,
told Reuters in a telephone interview.  The agreement between the
partners would allow Telecom Italia to comply with local anti-
trust rules, he added, the report relates.

Reuters says that it has been suggested that Telecom Italia is
aiming for a 58% stake in Sofora and will retain its option to buy
out the remaining stake in 2013.  The report relates that in
exchange it will drop its ongoing battle to enforce the 2009 put
option that would have allowed it to buy out the company with
immediate effect.

However, the report notes, gaining permission from the government
may prove problematic as it has expended significant political
capital to block such a deal in the past.

Sofora owns an 83% stake in Nortel Inversora, the holding company
that owns 54.7% of Telecom Argentina.  The other shareholders in
Telecom Argentina are the company employees, with 4.7%, and the
free float, which accounts for 40.6%.

                     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 August 10, 2010, the company 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.

As reported in the Troubled Company Reporter-Latin America on
May 11, 2009, Fitch Ratings said that affirmation of Telecom
Argentina's ratings reflects a sound credit profile, strong
operating performance and manageable debt maturity profile over
the medium term.  The ratings are tempered by increased
competition, regulatory risk in the fixed-line business and
currency mismatch between its foreign currency denominated debt
and its peso denominated cash flow.


VICUATOL SACI: Creditors' Proofs of Debt Due on September 27
------------------------------------------------------------
The court-appointed trustee for VicuAņol S.A.C.I.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
September 27, 2010.


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


MARINER REINSURANCE: Members' Final Meeting Set for August 9
------------------------------------------------------------
The members of Mariner Reinsurance Company Limited will hold their
final meeting, on August 9, 2010, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The meeting will be held at KPMG Advisory Limited, Crown House , 4
Par-la-Ville Road, in Hamilton, Bermuda.

Mike Morrison is the company's liquidator.


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


ALL AMERICAN: Records BRL136.4 Million Net Income in 2nd Qtr.
-------------------------------------------------------------
Laura Price at Bloomberg News reports that ALL America Latina
Logistica SA said second-quarter profit more than doubled.

According to the report, net income rose to BRL136.4 million from
BRL60.1 million a year earlier.

ALL American Latina Logistica transports freight.  The company
ships grain and consumer goods by rail in Brazil and Argentina.
The company also offers warehousing, logistics, and other
services.

                           *     *     *

As of July 21, 2010, the company continues to carry Fitch Ratings'
"BB-" long-term issuer default ratings.


GOL LINHAS: Incurs BRL51.9 Million Net Loss in Second Qtr
---------------------------------------------------------
Felipe Frisch at Bloomberg News reports that Gol Linhas Aereas
Inteligentes SA incurred a BRL51.9 million net loss (US$29.7
million) in the second quarter from a net income of BRL353.7
million a year earlier after costs rose and a decline in the real
increased the value of its foreign-currency debt.  The report
relates that net sales rose 14% to BRL1.59 billion.

According to the report, operating costs rose 18% in the quarter
to BRL1.53 billion, including a 33% rise in fuel and lubricant
costs.  The second quarter also typically brings lower demand for
flights, Gol said, the report notes.

Bloomberg News says that the airline boosted its forecast for the
increase in 2010 domestic flight demand to 14% to 21% from 12.5%
to 18%.  That reflects an increase in the company's forecast for
Brazil's gross domestic product growth in 2010 to 6 to 7% from 5
to 6% previously, the report adds.

A full text copy of the company's second quarter results is
available free at:

     http://ResearchArchives.com/t/s?685d

                        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


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


ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
----------------------------------------------------------------
The shareholders of Anthracite Balanced Company (JR-23) Limited
will hold their final meeting, on August 23, 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:

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


ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
----------------------------------------------------------------
The shareholders of Anthracite Balanced Company (JR-45) Limited
will hold their final meeting, on August 23, 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:

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


ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Aug. 23
----------------------------------------------------------------
The shareholders of Anthracite Balanced Company (JR-48) Limited
will hold their final meeting, on August 23, 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:

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


CORRELL CAPITAL: Shareholders' Final Meeting Set for September 7
----------------------------------------------------------------
The shareholders of Correll Capital Caymans Limited will hold
their final meeting, on September 7, 2010, at 4:00 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd
         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


EGB CAYMAN: Shareholders' Final Meeting Set for September 3
-----------------------------------------------------------
The shareholders of EGB Cayman, Co. will hold their final meeting,
on September 3, 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:

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


EQUITYSTAR GLOBAL: Shareholders' Final Meeting Set for September 9
------------------------------------------------------------------
The shareholders of Equitystar Global Partners Master Fund Ltd
will hold their final meeting, on September 9, 2010, at 4:00 p.m.,
to receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd
         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: Shareholders' Final Meeting Set for September 9
------------------------------------------------------------------
The shareholders of Equitystar Global Partners Ltd will hold their
final meeting, on September 9, 2010, at 4:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd
         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: Shareholders' Final Meeting Set for September 3
-------------------------------------------------------------
The shareholders of Galleon Asia Macro Fund, Ltd. will hold their
final meeting, on September 3, 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


GALLEON QUANTITATIVE: Shareholders' Final Meeting Set for Sept. 3
-----------------------------------------------------------------
The shareholders of Galleon Quantitative Multi-Strategy Fund, Ltd.
will hold their final meeting, on September 3, 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:

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


HEALTHALPHA FUND: Shareholders' Final Meeting Set for September 3
-----------------------------------------------------------------
The shareholders of Healthalpha Fund will hold their final
meeting, on September 3, 2010, at 11:45 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


INT GROUP: Shareholders' Final Meeting Set for September 13
-----------------------------------------------------------
The shareholders of INT Group Ltd will hold their final meeting,
on September 13, 2010, to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106, Grand Cayman KY1-1205


LB CCP: Shareholders' Final Meeting Set for September 3
-------------------------------------------------------
The shareholders of LB CCP AIV GP Holdings Ltd will hold their
final meeting, on September 3, 2010, at 11:30 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


METAL OVERSEAS: Shareholders' Final Meeting Set for September 1
---------------------------------------------------------------
The shareholders of Metal Overseas S.A. will hold their final
meeting, on September 1, 2010, at 3:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Nicolas Burr
         c/o San Francisco
         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
         Cayman Islands KY1-9001


NORTH STREET: Shareholders' Final Meeting Set for September 3
-------------------------------------------------------------
The shareholders of North Street Referenced Linked Notes 2002-1A
Limited will hold their final meeting, on September 3, 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:

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


PMI CDS: Shareholders' Final Meeting Set for September 2
--------------------------------------------------------
The shareholders of PMI CDS (Cayman) I Limited will hold their
final meeting, on September 2, 2010, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Aodh O Murchu
         5 Schoolhouse Lane, 4th Floor
         Dublin 2
         Ireland


R-ONE NAKAGAWA: Shareholders' Final Meeting Set for September 3
---------------------------------------------------------------
The shareholders of R-One Nakagawa Holdings will hold their final
meeting, on September 3, 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:

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


RAB ENERGY: Shareholders' Final Meeting Set for September 3
-----------------------------------------------------------
The shareholders of RAB Energy SPC Limited will hold their final
meeting, on September 3, 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:

         Avalon Management Limited
         Landmark Square, 1st Floor
         64 Earth Close West Bay Beach
         P.O. Box 715 Grand Cayman KY1-1107
         Cayman Islands
         Facsimile: 1 345 769-9351


SKYIMPACT GP: Shareholders' Final Meeting Set for September 3
-------------------------------------------------------------
The shareholders of Skyimpact GP Co. will hold their final
meeting, on September 3, 2010, at 8:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


TIAHUANACO LIMITED: Shareholders' Final Meeting Set for Aug. 23
---------------------------------------------------------------
The shareholders of Tiahuanaco Limited will hold their final
meeting, on August 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:

         Graham Robinson
         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: Shareholders' Final Meeting Set for September 3
---------------------------------------------------------------
The shareholders of Woori Absolute Asia Multi-Strategy Fund will
hold their final meeting, on September 3, 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:

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


ZENO PRIME: Shareholders' Final Meeting Set for September 3
-----------------------------------------------------------
The shareholders of The Zeno Prime Offshore Fund, Ltd. will hold
their final meeting, on September 3, 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


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


CONTROLADORA COMERCIAL: Mexican Judge Accepts Bankruptcy Petition
-----------------------------------------------------------------
A federal Mexican judge accepted a bankruptcy petition from
Controladora Comercial Mexicana SAB, Jonathan Roeder at Bloomberg
News reports, citing an e-mailed statement.

Controladora Comercial Mexicana SAB de CV is a Mexico-based
holding company that, through its subsidiaries, operates the
Comercial Mexicana, Mega, Bodega CM, Sumesa, City Market and
Alprecio retail stores, as well as a chain of family restaurants
under the Restaurantes California brand name.  The Company's
retail outlets sell a variety of food items, including basic
groceries and perishables, and non-food items, such as home
accessories, personal care products and clothing, among others.

As of December 31, 2009, it operated a network of 231 commercial
units and 73 restaurants located in 42 Mexican cities.  It owns
such subsidiaries as Tiendas Comercial Mexicana SA de CV and
Restaurantes California SA de CV.  Through its 50%-owned affiliate
Costco de Mexico SA de CV, the Company operates a chain of
membership warehouses.

Controladora Comercial Mexicana SAB filed for Chapter 15
bankruptcy in the United States on July 16, 2010 (Bankr. S.D.N.Y.
Case No. 10-13750) to aid its main restructuring in Mexico, which
was approved by creditors.  CCM estimated more than US$1 billion
in both debt and assets in its Chapter 15 petition.

The U.S. filing seeks to protect the company from U.S. lawsuits
and creditor claims, following a July 14 announcement that it
filed to restructure in Mexico.

The Chapter 15 Petition was filed by Fernando del Castillo Elorza
as foreign representative.  Gary Kaplan, Esq., at Fried Frank
Harris Shriver & Jacobson in New York, represents the Foreign
Representative.


MEXICANA AIRLINE: Pilots Union Will Defer Salaries, Benefits
------------------------------------------------------------
Jonathan Roeder at Bloomberg News reports that the pilots union
for Compania Mexicana de Aviacion said it will defer salaries and
benefits.

The pilots union will seek new investors for the airline, which
filed for bankruptcy on Aug. 3, according to an e-mailed statement
obtained by the news agency.  The union will negotiate with the
airline and the government, the statement added, the report
relates.

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.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana.
Two other units are Aerovias Caribe S.A. de C.V. (Mexicana Click)
and Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  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.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of $500 million to $1 billion and debts of more than US$1 billion.
William C. Heuer, Esq., at Duane Morris LLP, serves as counsel to
Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings did
not affect the operations of Click Mexicana and Mexicana Link,
which are independent companies from Mexicana de Aviacion.


MEXICANA AIRLINE: Pilots, Investors Discuss Plan for Firm
---------------------------------------------------------
Jonathan Roeder at Bloomberg News reports that the pilots union
for Compania Mexicana de Aviacion said it has spoken with as many
as three possible investors as it tries to form a group to rescue
the carrier from bankruptcy.

The union is interested in buying a stake in the airline and is
willing to modify its collective bargaining contract to secure a
deal, Fernando Perfecto, the group's head, told the news agency in
an interview.  "Time is of the essence," the report quoted Mr.
Perfecto as saying.  "We want to rescue Mexicana and if we have to
assess our collective contract, without doubt we'll do it," he
added.

                  About Mexicana Airline

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.

Grupo Mexicana de Aviacion is the parent of Compania Mexicana.
Two other units are Aerovias Caribe S.A. de C.V. (Mexicana Click)
and Mexicana Inter S.A. de C.V. (Mexicana Link).

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  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.

Maru E. Johansen, foreign representative of Compania Mexicana,
estimated in the Chapter 15 petition that the company has assets
of $500 million to $1 billion and debts of more than US$1 billion.
William C. Heuer, Esq., at Duane Morris LLP, serves as counsel to
Ms. Johansen.

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings did
not affect the operations of Click Mexicana and Mexicana Link,
which are independent companies from Mexicana de Aviacion.


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


BANCO DE CREDITO: Grants US$120MM Loan to SN Power Peru
-------------------------------------------------------
Banco de Credito del Peru has granted a 12-year loan worth US$120
million to the local unit of Norwegian hydroelectric power company
SN Power, Andina News reports.

According to the report, the outlay is the first part of a round
of BCP bank financing for SN Power to be worth up to US$280
million.  The report relates SN Power will use the credit to help
finance upcoming projects like the Cheves hydroelectric dam.  BCP
has a total corporate credit portfolio worth (US$4.45 billion) as
of the end of the second quarter, 39% of the bank's total credit,
the report notes.

                       About Banco de Credito

Banco de Credito del Peru is Peru's largest bank, with a
dominating market share of over 30% of deposits, and boasts total
consolidated assets of US$9.6 billion and equity of US$78 million
as of June 30, 2006.  It is the principal operating company within
Credicorp, Peru's largest financial services company, which
controls 96.2% of Banco de Credito; Credicorp is widely held by
local and foreign institutional shareholders.

                           *     *     *

As of August 10, 2010, the bank continues to carry Moody's "D+"
financial strength rating.


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


PETROLEOS DE VENEZUELA: Strike at Isla Refinery Ends
----------------------------------------------------
A strike staged by workers at Isla, a refinery based in Curacao
and operated by Petroleos de Venezuela has ended, El Universal
News reports, citing the local trade union.

According to the report, workers staged a strike as a means to
exert pressure because of the delayed beginning of operations at
the facilities.  The report relates that the refinery has been
idle for five months due to failures at the plant which provides
it with water, power and steam.

The only plant operating at the refinery, with a processing
capacity of 335,000 bpd, was the lubricants plant, due to an
unstable power supply, said local sources, the report notes.

                            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 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.


==========================
V I R G I N  I S L A N D S
==========================


CABLE & WIRELESS: Has New VP for LIME Imagineering & Product Devt
-----------------------------------------------------------------
Emerson Hewitt has been appointed Vice President of Imagineering
and Product Development for LIME Caribbean, British Virgin Island
Platinum News reports.  The report relates Mr. Hewitt has worked
with Cable & Wireless/LIME for 14 years in Finance, Billing,
Marketing and Sales Support.

According to the report, Mr. Emerson will lead LIME's Imagineering
Team that is charged with the responsibility of creating solutions
outside of the boundaries of "what is"; and engineering the
applicability of those solutions that are on the leading edge of
technology.  The report notes that Mr. Hewitt has worked with
Cable & Wireless in his native Barbados, Jamaica, the USA and the
United Kingdom.

                           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 data compiled by Bloomberg, 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 carry
Standard & Poor's "BB- "long-term foreign and local issuer credit
ratings, and "B" short- term foreign and local issuer credit
ratings.


TRISTAN OIL: Moody's Withdraws 'C' Corporate Family Rating
----------------------------------------------------------
Moody's Investors Service has withdrawn the C corporate family and
senior secured bond ratings, and D probability of default rating
of Tristan Oil Ltd.  The ratings were withdrawn as a result of the
company defaulting on its senior secured notes coupon payment due
July 1, 2010, upon expiration of the 30-day grace period and its
current insolvency.

Moody's previous rating action on Tristan Oil took place on 26
July 2010 when the agency changed the PDR to D from C and changed
the outlook on the ratings to negative in expectation of default.

Tristan is a special purpose vehicle domiciled in the British
Virgin Islands created for the sole purpose of issuing secured
notes to finance a loan to two oil and gas companies, KPM and TNG,
organised under the laws of Kazakhstan.  The guarantors of the
notes, KPM and TNG, have been engaged in the exploration and
development of two oil and gas fields and in the production of
oil, condensate and gas in the Pre-Caspian basin of Western
Kazakhstan.  All companies are directly or indirectly owned by Mr.
Stati, a Moldovan citizen, and certain members of his family.


                            ***********

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

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

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

                            ***********


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

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


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

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

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

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


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