TCRLA_Public/100902.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

              Thursday, September 2, 2010, Vol. 11, No. 173

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Committee Appointed to Represent Investors


A R G E N T I N A

COKEFLET SA: Creditors' Proofs of Debt Due on October 18
ESAGNA SA: Requests for Preventive Contest
ESTABLECIMIENTO DE HARINA: Asks for Opening of Preventive Contest
SANEX SA: Creditors' Proofs of Debt Due on October 1
* ARGENTINA: Default on Hold as Economy Grows


B A R B A D O S

TRIMART INC: Supermarkets Open Again


B E R M U D A

REOC 3-D: Creditors' Proofs of Debt Due on September 10
REOC 3-D: Members' Final Meeting Set for October 4
RS DERIVATIVE: Creditors' Proofs of Debt Due on September 10
RS DERIVATIVE: Members' Final Meeting Set for October 4


B R A Z I L

ODEBRECHT FINANCE: Fitch Assigns 'BB+' Rating on US$200 Mil. Notes


C A Y M A N  I S L A N D S

AMAZON IRON: Creditors' Proofs of Debt Due on September 30
BALU LIMITED: Creditors' Proofs of Debt Due on September 30
DALMATIAN OFFSHORE: Creditors' Proofs of Debt Due on September 30
GS PEP: Creditors' Proofs of Debt Due on September 30
GS PEP: Creditors' Proofs of Debt Due on September 30

GS PEP: Creditors' Proofs of Debt Due on September 30
HADSPHALTIC INTERNATIONAL: Commences Wind-Up Proceedings
ICP STRATEGIC: Commences Wind-Up Proceedings
LA JOCONDE: Creditors' Proofs of Debt Due on September 13
LAWRENCE CAYMAN: Creditors' Proofs of Debt Due on September 30

LAWRENCE MASTER: Creditors' Proofs of Debt Due on September 30
LEHMAN BROTHERS: Creditors' Proofs of Debt Due on September 21
MERRIAM INSURANCE: Placed Under Voluntary Liquidation
NSJ INVESTMENT: Creditors' Proofs of Debt Due on September 30
NSJ INVESTMENT: Creditors' Proofs of Debt Due on September 30

RAPTOR GLOBAL: Creditors' Proofs of Debt Due on September 30
RAPTOR GLOBAL: Creditors' Proofs of Debt Due on September 30
ROROJO LTD: Creditors' Proofs of Debt Due on October 12
SR CAPITAL: Creditors' Proofs of Debt Due on September 30
WHITEHALL STATION: Creditors' Proofs of Debt Due on October 5


C O L O M B I A

EMPRESAS MUNICIPALES: Fitch Withdraws 'CCC' Issuer Default Rating


M E X I C O

COZUMEL CARIBE: Note Servicer Disputes Chapter 15 Bid


T R I N I D A D  &  T O B A G O

CL FIN'L: CLICO Liquidator Endures Minor Set-Back in Asset Hunt


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                         - - - - -


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


STANFORD INT'L: Committee Appointed to Represent Investors
----------------------------------------------------------
An official seven-member investors committee has been appointed to
represent investors' interests in the ongoing receivership
proceeding to liquidate the assets of the Stanford Financial
Group, Caribbean360.com reports.  The report relates that an
agreement to establish the committee was proposed in March by
attorney Peter Morgenstern, who represents Stanford investors from
around the world, and approved by United States District Judge
David Godbey on August 10, 2010.

According to the report, the people joining court-appointed
receiver Ralph Janvey and examiner John Little on the committee
are:

   -- Ed Snyder, attorney for Stanford investors in Mexico;

   -- Ed Valdespino, attorney for Stanford investors in Latin
      America;

   -- Dr. John Wade, a customer of Stanford Trust Company in Baton
      Rouge, Louisiana, which held custody of thousands of IRAs
      and trust accounts that were directed to the alleged
      fictitious Stanford International Bank CDs;

   -- Angela Shaw, a Stanford International Bank CD investor and
      director and founder of the Stanford Victims Coalition, a
      nonprofit advocacy group representing Stanford International
      Bank CD investors; and

   -- Jaime Pinto Tabini, attorney for Stanford investors in Peru.

"These committee members truly represent the vast diversity of the
Stanford victims' community and will work together to fairly and
objectively represent the interests of all investors, regardless
of citizenship or place of residency -- a significant concern
among the thousands of international investors and one the
committee is very mindful of," the report quoted Angela Shaw,
director and founder of the Stanford Victims Coalition, as saying.

               About Stanford International Bank

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

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

The U.S. Securities and Exchange Commission, on Feb. 17, 2009,
charged before the U.S. District Court in Dallas, Texas, Mr.
Stanford and three of his companies for orchestrating a
fraudulent, multi- billion dollar investment scheme centering on
an US$8 billion Certificate of Deposit program.

A criminal case was pursued against him in June 2009, before the
U.S. District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney General
Lanny Breuer, as cited by Agence France-Presse News, said in a 57-
page indictment that Mr. Stanford could face up to 250 years in
prison if convicted on all charges.  Mr. Stanford surrendered to
U.S. authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342 (S.D. Tex.).  The
civil case is SEC v. Stanford International Bank, 09-cv-00298
(N.D. Tex.).


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


COKEFLET SA: Creditors' Proofs of Debt Due on October 18
--------------------------------------------------------
The court-appointed trustee for Cokeflet S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
October 18, 2010.

The trustee will present the validated claims in court as
individual reports on November 29, 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
February 11, 2011.


ESAGNA SA: Requests for Preventive Contest
------------------------------------------
Esagna SA requested for preventive contest.

The company stopped making payments last December 2009.


ESTABLECIMIENTO DE HARINA: Asks for Opening of Preventive Contest
-----------------------------------------------------------------
Establecimiento de Harina de Madera SRL asked for the opening of
preventive contest by cessation of payments.


SANEX SA: Creditors' Proofs of Debt Due on October 1
----------------------------------------------------
The court-appointed trustee for Sanex S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
October 1, 2010.

The trustee will present the validated claims in court as
individual reports on November 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
February 3, 2011.


* ARGENTINA: Default on Hold as Economy Grows
---------------------------------------------
Drew Benson and Ben Bain at Bloomberg News report that investors
are growing more convinced that Argentina will meet its debt
obligations over the next year and will struggle to keep up with
payments in the following decade, trading in credit-default swaps
shows.

According to the report, citing CMA Datavision, the cost of
insuring Argentine bonds against default for 10 years compared
with one year rose to a 22-month high of 206 basis points, or 2.06
percentage point, on August 26.  The report relates that the
10-year contracts cost an average 324 basis points less than one-
year contracts over the previous two years as the government
failed to complete a debt restructuring.

Bloomberg notes that one-year credit-default swaps became cheaper
as an economic expansion that President Cristina Fernandez de
Kirchner said reached a 9% annual rate increased tax revenue.

The report relates Juan Pablo Fuentes, chief economist at Moody's
Economy.com in West Chester, Pennsylvania, said that investor
concern shifted to Argentina's ability to pay debt by 2020 because
the nation may lack access to overseas bond markets as lawsuits
linger after the government swapped most of its remaining
defaulted obligations.  "The government's fiscal and financial
situation has improved this year as revenues are growing fast,"
the report quoted Mr. Fuentes as saying.  "Over the longer term,
the situation is less clear," he added.

Bloomberg notes that President Fernandez restructured US$12.9
billion of debt in June left over from the 2001 default on US$95
billion of obligations, prompting Economy Minister Amado Boudou to
say that the country has regained the ability to sell bonds
overseas.

The report relates Mr. Fuentes said lawsuits from some of the
remaining defaulted debt holders, including billionaire investor
Kenneth Dart, may still impede the nation from issuing
international bonds.

                           *     *     *

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 A R B A D O S
===============


TRIMART INC: Supermarkets Open Again
------------------------------------
Trimart Incorporated's supermarkets, which were closed by bailiffs
on April 27, 2010, are given the green light to reopen their
doors, Nationalnews.com reports.

According to the report, the company, through its lawyer Anthony
Audain, filed with the Supervisor of Insolvency a notice of
intention to make a proposal to creditors of NSR Limited, which is
in receivership.  The report relates that Section 41 of the
Bankruptcy and Insolvency Act provides an automatic stay of
proceedings against the company once such action is taken.

The report notes PricewaterhouseCoopers, partner and joint
receiver of NSR Limited, Christopher Sambrano, said that the
action taken to close Trimart's Haggatt Hall and Bridge Street
supermarkets was as a result of debts totaling over $1.2 million.

However, the report notes, the company's lawyers reminded the
receivers that as a result of Trimart's latest action, no creditor
had any remedy against the supermarket.  The report relates that
Trimart's counsel also warned if the receivers did not respond by
September 2, 2010, the matter would be taken to the High Court to
obtain an order restraining the proposed enforcement.

The report says that the receivers had also served notice on
Trimart to terminate the tenancies at both Haggatt Hall and Bridge
Street locations.

Over 300 jobs were made redundant following last week's closures,
the report adds.

Trimart Incorporated owns and manages a supermarket chain in
Barbados.


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


REOC 3-D: Creditors' Proofs of Debt Due on September 10
-------------------------------------------------------
The creditors of REOC 3-D Investments, Ltd. are required to file
their proofs of debt by September 10, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on August 25, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         Church Street, Hamilton
         Bermuda


REOC 3-D: Members' Final Meeting Set for October 4
--------------------------------------------------
The members of REOC 3-D Investments, Ltd. will hold their final
meeting, on October 4, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on August 25, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         Church Street, Hamilton
         Bermuda


RS DERIVATIVE: Creditors' Proofs of Debt Due on September 10
------------------------------------------------------------
The creditors of RS Derivative Investments Fund, Ltd. are required
to file their proofs of debt by September 10, 2010, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on August 25, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         Church Street, Hamilton
         Bermuda


RS DERIVATIVE: Members' Final Meeting Set for October 4
-------------------------------------------------------
The members of RS Derivative Investments Fund, Ltd. will hold
their final meeting, on October 4, 2010, at 9:30 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on August 25, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         Church Street, Hamilton
         Bermuda


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


ODEBRECHT FINANCE: Fitch Assigns 'BB+' Rating on US$200 Mil. Notes
------------------------------------------------------------------
Fitch Ratings has assigned a 'BB+' rating for the proposed
perpetual US$200 million notes issued by Odebrecht Finance Limited
with call option after five years.  OFL is a wholly-owned
subsidiary of Odebrecht S.A., the holding company of Construtora
Norberto Odebrecht S.A.  The notes are fully and irrevocably
guaranteed by CNO.  The proceeds of the issue will be used for
repayment, in December 2010, of the perpetual notes issued by
Odebrecht Overseas Limited and guaranteed by CNO.  Simultaneously,
Fitch withdraws the rating assigned on May 3, 2010 for a similar
transaction.

The existing Issuer Default Ratings and ratings assigned by Fitch
to CNO, OOL and OFL are:

Construtora Norberto Odebrecht S.A.

  -- Foreign and local currency long-term Issuer Default Ratings
     'BB+';

  -- Long-term national scale 'AA(bra)';

  -- US$200.4 million perpetual notes, guaranteed by CNO, issued
     by its full subsidiary and financial vehicle OOL 'BB+'.

Odebrecht Finance Ltd.

  -- Two 10-year US$200 million senior notes guaranteed by CNO,
     issued Oct. 18, 2007, with call option in five years,
     maturing October 2017 'BB+';

  -- US$200 million senior notes guaranteed by CNO, issued April
     7, 2008, with call option in five years, maturing October
     2017 'BB+';

  -- US$200 million senior notes guaranteed by CNO due 2014 'BB+';

  -- US$500 million senior notes, guaranteed by CNO, issued Oct.
     21, 2009, due September 2020, with call option after five
     years 'BB+'.

The Rating Outlook for all the corporate ratings above is Stable.

The ratings reflect CNO's leading position in the engineering and
construction sector in Latin America.  The company has significant
expertise and a successful track record of executing and
completing domestic (Brazilian) and international engineering,
procurement and construction infrastructure projects.  Recent
performance has been resilient, despite less favorable market
conditions, reflected by growth in revenues and cash flows.  The
ratings are also supported by CNO's robust liquidity, adequate
leverage, and strong backlog.  The ratings incorporate the risks
associated with CNO's revenue and backlog concentration in
emerging markets and government-sponsored projects, and the
challenge of maintaining and growing its backlog in a more complex
global environment.

Revenues and Backlog Resilient, Brazil Driving Growth:

Due to the challenges from the global crisis to the heavy
construction segment, CNO's net revenues decreased 10% in the last
twelve months ended June 30, 2010 compared with 2009 and 1% in
relation to 2008.  EBITDA margin of 11.6%, compared with 9.7% in
2009, was adequate for industry standards, though well below the
high 14% margin reported in 2008.  The company has managed to
maintain a growing backlog of US$21.5 billion at end June 2010,
compared to US$20.3 billion at end December 2009, and BRL18.1
billion at end December 2008.  Brazil's share in the company's
backlog has been increasing consistently, with Brazil accounting
for 44% of the total backlog at end June 2010, compared to 28% at
the end of 2008 and 21% at the end of 2007.  The remaining backlog
include projects located in Venezuela with 22%, Angola 9%, Peru
5%; Argentina 4%; Colombia 3%; Panama 3%; Cuba 2%; Dominican
Republic 2%; Lybia 2%; United States 2%; Portugal 1%; and
Mozambique 1%.  Going forward, Fitch expects CNO's backlog
continue to grow in the near future due to ongoing and expected
Brazilian investment in Oil & Gas and Infrastructure.  The
Brazilian Government's Accelerated Growth Program is expected to
partially support these investments.  CNO's businesses should also
benefit from Brazil hosting the World Cup in 2014 and Olympic
games in 2016, events that will generate the need for further
infrastructure investments and that should also help increase
Brazil's importance in the company's backlog and revenues.

International Experience and Prudent Financial Strategy Mitigate
Political Risk:

CNO's exposure and concentration to more volatile emerging market
countries have been partially mitigated by its expertise and
positive track record of operating in these markets, as well as
the strategy of requesting advanced payments from customers
(balance of BRL5.3 billion at June 30, 2010).  On average, CNO
receives 15% of the total project cost in advance in the emerging
markets it participates.  As a result, account receivables do not
exceed customer advances in these markets.  In addition, transfer
and convertibility risks are mitigated by the fact that CNO has
significant access to hard currency.

Positive Free Cash Flow, Strong Liquidity and Low Net Leverage:

By funding its working capital requirements with customer
advances, CNO has been able to show recurrent positive free cash
flows (BRL500 million in LTM ended June 30, 2010) and a strong
liquidity position.  CNO's cash position of BRL2.5 billion covered
3.8 times (x) its short-term debt of BRL659 million, 1.1x its
total debt and 0.6x its total adjusted debt (including BRL2
billion of off balance sheet guarantees) at June 30, 2010.  Of its
total cash position, 42% is denominated in foreign currency.
Future debt payments are BRL309 million maturing in the course of
2011-2012, BRL406 million in 2012-2013, BRL237 million in 2013-
2014 and BRL667 million in 2014-2015 and beyond.  A potential
pressure to the company's liquidity will be if there is material
cash drain to related companies in the Odebrecht Group, which has
not been the case so far.

CNO has demonstrated its ability to maintain low net leverage.  At
the end of June 2010, total adjusted debt/EBITDA increased to
2.2x, from 1.5x at year-end 2008, while the adjusted net
debt/EBITDA ratio was maintained at a still low 0.9x (0.5x at YE
2008).  The increase in total leverage was due to the lower EBITDA
combined with additional debt guarantees on behalf of OFL provided
in 2009.  The low net leverage and high liquidity ratios are
considered appropriate in a highly cyclical and volatile industry
such as heavy construction.  Fitch expects the ratio of total
adjusted debt to EBITDA to be below 2.2x at YE 2010, with a
declining trend thereafter.  In Fitch's opinion, leverage could
increase if the level of guarantees provided to related companies
increase in a faster pace than EBITDA growth.

Potential Ratings and Outlook Drivers:

The ratings and Outlook can be negatively affected by substantial
reduction of backlog and/or cancellation of works, leading to
significant revenue retraction and losses; factors negatively
affecting the liquidity position; increasing concentration in
higher-risk countries and/or sectors; and increased leverage
driven by potential cash drain or guarantees to related companies.

The company's ratings and Outlook can be positively affected by a
consistent and diversified evolution of backlog of contracts, with
an orientation to investment-grade countries, assuring future
revenue flows; sizeable customer advances exceeding account
receivables; increased revenue flows and EBITDA margins.


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


AMAZON IRON: Creditors' Proofs of Debt Due on September 30
----------------------------------------------------------
The creditors of Amazon Iron Ore Overseas Co. Ltd. are required to
file their proofs of debt by September 30, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 28, 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
         Cayman Islands


BALU LIMITED: Creditors' Proofs of Debt Due on September 30
-----------------------------------------------------------
The creditors of Balu Limited are required to file their proofs of
debt by September 30, 2010, to be included in the company's
dividend distribution.

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

The company's liquidators are:

         Avalon Management Limited
         Telephone: (+1) 345 769 4422
         Facsimile: (+1) 345 769 9351
         Landmark Square, 1st Floor
         64 Earth Close West Bay Beach
         PO Box 715, George Town Grand Cayman KY1-1107
         Cayman Islands


DALMATIAN OFFSHORE: Creditors' Proofs of Debt Due on September 30
-----------------------------------------------------------------
The creditors of Dalmatian Offshore Ltd. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 21, 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
         Cayman Islands


GS PEP: Creditors' Proofs of Debt Due on September 30
-----------------------------------------------------
The creditors of GS Pep Offshore SP, Inc. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 5, 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
         Cayman Islands


GS PEP: Creditors' Proofs of Debt Due on September 30
-----------------------------------------------------
The creditors of GS Pep Tech Offshore LL Holdings, Inc. are
required to file their proofs of debt by September 30, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on August 5, 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
         Cayman Islands


GS PEP: Creditors' Proofs of Debt Due on September 30
-----------------------------------------------------
The creditors of GS Pep Tech Offshore LL Holdings, Inc. are
required to file their proofs of debt by September 30, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on August 5, 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
         Cayman Islands


HADSPHALTIC INTERNATIONAL: Commences Wind-Up Proceedings
--------------------------------------------------------
On August 11, 2010, the Grand Court of Cayman Islands made an
order to voluntarily wind up the operations of Hadsphaltic
International Limited.

The company's liquidators are:

         Christopher Dorrien Johnson
         Russell Smith
         Johnson Smith Associates
         80 Shedden Road, Elizabethan Square Phase III
         PO Box 2499, George Town
         Grand Cayman KY1-1104
         Cayman Islands


ICP STRATEGIC: Commences Wind-Up Proceedings
--------------------------------------------
On August 10, 2010, the Grand Court of Cayman Islands made an
order to voluntarily wind up the operations of ICP Strategic
Credit Income Fund Ltd.

The company's liquidators are:

         Hugh Dickson
         Peter Bigwood
         Telephone: (345) 815 8242
         Facsimile: (345) 949 7120
         PO Box 1370 GT, Grand Cayman KY1- 1108
         Cayman Islands


LA JOCONDE: Creditors' Proofs of Debt Due on September 13
---------------------------------------------------------
The creditors of La Joconde Limited are required to file their
proofs of debt by September 13, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 11, 2010.

The company's liquidator is:

         Edward Lavelle
         5 Rue Alfred-Vincent 1211, Geneva
         Switzerland
         c/o Philip C Pedro HSBC International Trustee Limited
         Compass Point, Bermudiana Road Hamilton HM 11
         Bermuda
         Telephone: (441) 299-6482
         Facsimile: (441) 299-6526


LAWRENCE CAYMAN: Creditors' Proofs of Debt Due on September 30
--------------------------------------------------------------
The creditors of Lawrence Cayman Fund Inc are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 29, 2009.

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
         Cayman Islands


LAWRENCE MASTER: Creditors' Proofs of Debt Due on September 30
--------------------------------------------------------------
The creditors of Lawrence Master Fund, Ltd are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 29, 2009.

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
         Cayman Islands


LEHMAN BROTHERS: Creditors' Proofs of Debt Due on September 21
--------------------------------------------------------------
The creditors of Lehman Brothers Global Bond Fund, (Offshore) Ltd
are required to file their proofs of debt by September 21, 2010,
to be included in the company's dividend distribution.

The company commenced wind-up proceedings on November 27, 2009.

The company's liquidator is:

         Ogier
         c/o Phil Hughes
         Telephone: (345) 815 1402
         Facsimile: (345) 949-1986
         c/o Ogier Fiduciary Services (Cayman) Limited
         89 Nexus Way, Camana Bay, Grand Cayman KY1-9007
         Cayman Islands


MERRIAM INSURANCE: Placed Under Voluntary Liquidation
-----------------------------------------------------
At an extraordinary general meeting held on July 29, 2010, the
members of Merriam Insurance Company, Ltd. resolved to voluntarily
liquidate the company's business.

The company's liquidators are:

         Kieran Mehigan
         Fernando C. Beckles
         Marsh Management Services Cayman Ltd
         Telephone: 345-949-7988
         Facsimile: 345-949-7849


NSJ INVESTMENT: Creditors' Proofs of Debt Due on September 30
-------------------------------------------------------------
The creditors of NSJ Investment Cayman Ltd. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 11, 2010.

The company's liquidator is:

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


NSJ INVESTMENT: Creditors' Proofs of Debt Due on September 30
-------------------------------------------------------------
The creditors of NSJ Investment Cayman Ltd. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 11, 2010.

The company's liquidator is:

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


RAPTOR GLOBAL: Creditors' Proofs of Debt Due on September 30
------------------------------------------------------------
The creditors of The Raptor Global Portfolio Ltd. are required to
file their proofs of debt by September 30, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on August 3, 2010.

The company's liquidator is:

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


RAPTOR GLOBAL: Creditors' Proofs of Debt Due on September 30
------------------------------------------------------------
The creditors of The Raptor Global Fund Ltd. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 9, 2010.

The company's liquidator is:

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


ROROJO LTD: Creditors' Proofs of Debt Due on October 12
-------------------------------------------------------
The creditors of Rorojo Ltd. are required to file their proofs of
debt by October 12, 2010, to be included in the company's dividend
distribution.

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

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         MBT Trustees Ltd.
         P.O. Box 30622, Grand Cayman KY1-1203
         Cayman Islands


SR CAPITAL: Creditors' Proofs of Debt Due on September 30
---------------------------------------------------------
The creditors of SR Capital Offshore, Ltd. are required to file
their proofs of debt by September 30, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 6, 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
         Cayman Islands


WHITEHALL STATION: Creditors' Proofs of Debt Due on October 5
-------------------------------------------------------------
The creditors of Whitehall Station Insurance Company Ltd are
required to file their proofs of debt by October 5, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on August 5, 2010.

The company's liquidators are:

         Damien Austin
         Anya Payne
         P.O. Box 1109
         HSBC House 68 West Bay Road, Grand Cayman
         Cayman Islands
         Telephone: 949-7580 / 949-7755
         Facsimile: 949-6021 / 949-6021


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


EMPRESAS MUNICIPALES: Fitch Withdraws 'CCC' Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has withdrawn all ratings for Empresas Municipales
de Cali E.I.C.E. ESP. given the lack of information and consistent
with Fitch's policies.  Fitch will no longer provide ratings or
credit research on this issuer.

Fitch has withdrawn these ratings for EMCALI:

  -- Local currency Issuer Default Rating at 'CCC';
  -- Foreign currency IDR at 'CCC'.


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


COZUMEL CARIBE: Note Servicer Disputes Chapter 15 Bid
-----------------------------------------------------
Dow Jones' DBR Small Cap reports that CT Investment Management
Co., the special servicer of US$103 million in notes issued by
Cozumel Caribe SA, is taking another shot at the Mexican tourism-
services company, this time seeking to block Cozumel Caribe's bid
for recognition of its bankruptcy case in the U.S.

According to DBR, in court papers filed Monday with the U.S.
Bankruptcy Court in Manhattan, CT Investment invoked similar
sentiments, this time claiming the company was "trampling the
rights of its secured creditors" by seeking recognition of its
foreign proceedings under Chapter 15 of the U.S. Bankruptcy Code.

DBR notes CT Investment, which services secured notes held by a
group led by LaSalle Bank, has already proven itself to be a loud
voice in Cozumel Caribe's bankruptcy proceedings.  Earlier this
summer, it took aim at the company's request to permit its Mexican
insolvency overseer to seize control of all current and future
funds in the company's U.S. accounts, a move CT Investment said
would be unfair to secured creditors.

Cozumel Caribe SA de CV, a Mexican provider of tourism services at
a beachfront hotel in Cozumel, filed for Chapter 15 bankruptcy
protection (Bankr. S.D.N.Y. Case No. 10-13913) on July 20, 2010.
Cozumel Caribe reported more than US$100 million in debts and
assets of more than US$10 million in its bankruptcy petition.


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


CL FIN'L: CLICO Liquidator Endures Minor Set-Back in Asset Hunt
---------------------------------------------------------------
Neil Hartnell at The Tribune reports that Florida-based law firm
Hunt & Gross and a related entity, HCRM Corporation, were able to
successfully petition the U.S. Bankruptcy Court in south Florida
to grant them an interim protective order restricting the type of
documents they must hand over to CLICO (Bahamas) liquidator Craig
A. 'Tony' Gomez and attorneys representing him.

As reported in the Troubled Company Reporter-Latin America on
August 31, 2010, The Tribune said that Mr. Gomez is attempting to
obtain records on 77 companies he believes are connected to parent
company CL Financial Limited Head Lawrence Duprey.  The report
related the Baker Tilly Gomez accountant and partner have issued
subpoenas seeking numerous documents from US-based companies that
acted as bankers and registered agents to entities that formed
part of CL Financial.

According to the report, the court found "good cause" to grant the
protective order, which restricts the documents that must be
produced to fund transfers involving CLICO (Bahamas) assets only.
And the only management, shareholder and operating agreement
records that have to be produced relate solely to entities in
which CLICO (Bahamas) has a beneficial ownership interest, the
report relates.

The Tribune notes that the protective order remains in place until
September 9, 2010, unless Mr. Gomez and Hunt & Gross can settle
their differences.

                        About CL Financial

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

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 10, 2009, A.M. Best Co. downgraded the financial strength
rating to C (Weak) from B (Fair) and issuer credit rating to "ccc"
from "bb" of Colonial Life Insurance Company (Trinidad) Limited
(CLICO) (Trinidad & Tobago).  The ratings remain under review with
negative implications.  CLICO is an insurance member company of CL
Financial Limited (CL Financial), a diversified holding company
based in Trinidad & Tobago.

According to a TCRLA report on Feb. 20, 2009, citing Trinidad and
Tobago Express, Tobago President George Maxwell Richards signed
bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.


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


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

Sept. 14, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/NYIC Golf and Tennis Fundraiser
        Maplewood Golf Club, Maplewood, N.J.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 20, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     Complex Financial Restructuring Program
        Fordham Law School, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 22-23, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/NYU Bankruptcy and Business Reorganization Workshop
        New York University School of Law, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Sept. 23-25, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Southwest Bankruptcy Conference
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 1, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/UMKC Midwestern Bankruptcy Institute
        Kansas City Marriott Downtown, Kansas City, Kan.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 1, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     ABI/GULC "Views from the Bench"
        Georgetown University Law Center, Washington, D.C.
           Contact: 1-703-739-0800; http://www.abiworld.org/

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

Oct. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Chicago Consumer Bankruptcy Conference
        Standard Club, Chicago, Ill.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 15, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Hilton New Orleans Riverside, New Orleans, La.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 28, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Level Professional Development Program
        Weil, Gotshal & Manges LLP, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 29, 2010 (tentative)
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        The Savoy, London, England
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. __, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Delaware Views from the Bench and Bankruptcy Bar
        Hotel du Pont, Wilmington, Del.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Detroit Consumer Bankruptcy Conference
        Hyatt Regency Dearborn, Dearborn, Mich.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29, 2010
  RENAISSANCE AMERICAN MANAGEMENT, INC. & BEARD GROUP, INC.
     17th Annual Distressed Investing Conference
        The Helmsley Park Lane Hotel, New York City
           Contact: 1-903-595-3800;
                    http://www.renaissanceamerican.com/

Dec. 9-11, 2010
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        Camelback Inn, a JW Marriott Resort & Spa,
        Scottsdale, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

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

January 26-28, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Distressed Investing Conference
        Aria Las Vegas
           Contact: http://www.turnaround.org/

Jan. 27-28, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Rocky Mountain Bankruptcy Conference
        Westin Tabor Center, Denver, Colo.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 3-5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Caribbean Insolvency Symposium
        Westin Casuarina Resort & Spa, Grand Cayman Island
           Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 24-25, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Valcon
        Four Seasons Las Vegas, Las Vegas, Nev.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 4, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Bankruptcy Battleground West
        Hyatt Regency Century Plaza, Los Angeles, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 7-9, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Conrad Duberstein Moot Court Competition
        Duberstein U.S. Courthouse, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - Florida
        Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10-12, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     SUCL/ Alexander L. Paskay Seminar on
     Bankruptcy Law and Practice
        Marriott Tampa Waterside, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 17-19, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Byrne Judicial Clerkship Institute
        Pepperdine University School of Law, Malibu, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

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

April 27-29, 2011
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott, Chicago, IL
           Contact: http://www.turnaround.org/

May 5, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Nuts and Bolts - New York City
        Association of the Bar of the City of New York,
        New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

May 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     New York City Bankruptcy Conference
        Hilton New York, New York, N.Y.
           Contact: 1-703-739-0800; http://www.abiworld.org/

June 6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Canadian-American Cross-Border Insolvency Symposium
        Fairmont Royal York, Toronto, Ont.
           Contact: 1-703-739-0800; http://www.abiworld.org/

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

July 21-24, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Northeast Bankruptcy Conference
        Hyatt Regency Newport, Newport, R.I.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 27-30, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Sanctuary at Kiawah Island, Kiawah Island, S.C.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 4-6, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hotel Hershey, Hershey, Pa.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     NCBJ/ABI Educational Program
        Tampa Convention Center, Tampa, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     International Insolvency Symposium
        Dublin, Ireland
           Contact: 1-703-739-0800; http://www.abiworld.org/

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

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

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.


                            ***********

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 * * *