TCRLA_Public/100921.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

          Tuesday, September 21, 2010, Vol. 11, No. 186

                            Headlines



A R G E N T I N A

ALIMENTAR SA: Asks for Opening of Preventive Contest
BAER SRL: Requests for Preventive Contest
DELICIAS FORESTACIONES: Creditors' Proofs of Debt Due on Nov. 11
VANZAL SA: Asks for Opening of Preventive Contest
VIAL 3: Creditors' Pproofs of Debt Due on December 3

* ARGENTINA: Moody's Downgrades Mendoza's Issuer Rating to 'B2'
* ARGENTINA: S&P Raises Global Scale Ratings on Cordoba to 'B'


B E R M U D A

BERNARD MADOFF: Lawyer Awarded Costs for Tracking Down Funds


B R A Z I L

INDEPENDENCIA SA: Moody's Downgrades Corp. Family Rating to 'C'


C A Y M A N  I S L A N D S

AALL STAR: Creditors' Proofs of Debt Due on October 13
CANYON INVESTMENTS: Sole Member to Hear Wind-Up Report on Oct. 12
CHAMBERI LIMITED: Shareholders' Final Meeting Set for October 15
CPIM GLOBAL: Shareholders' Final Meeting Set for October 15
EUROPEAN RENAISSANCE: Members' Final Meeting Set for October 4

GOLD ARROW: Creditors' Proofs of Debt Due on October 14
GS ASSOCIATED: Shareholders' Final Meeting Set for October 15
IBIS ASSET: Shareholders' Final Meeting Set for October 15
IVY SENTINEL: Shareholders' Final Meeting Set for October 15
LION/RALLY: Creditors' Proofs of Debt Due on October 8

LION/RALLY: Members' Final Meeting Set for October 11
LOOMIS SAYLES: Shareholders' Final Meeting Set for October 15
MALBEC EMERGING: Shareholders' Final Meeting Set for October 5
MALBEC EMERGING: Shareholders' Final Meeting Set for October 5
NATIONAL PEN: Members' Final Meeting Set for October 4

OFFSHORE DATA: Creditors' Proofs of Debt Due on October 13
TUDOR EMERGING: Members' Final Meeting Set for October 27
TUDOR GLOBAL: Members' Final Meeting Set for October 27
UBS JAPAN: Members' Final Meeting Set for October 4
UBS JAPAN: Members' Final Meeting Set for October 4

VEDIOR INSURANCE: Members' Final Meeting Set for September 24


J A M A I C A

DIGICEL GROUP: To Bring Mobile Money Service to Caribbean


P A R A G U A Y

BANCO BILBAO: S&P Assigns 'B+/B' Counterparty Credit Rating


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Clico Liquidator Solicits Interests for Securities


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                         - - - - -


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


ALIMENTAR SA: Asks for Opening of Preventive Contest
----------------------------------------------------
Alimentar SA asked for opening of preventive contest.

The company stopped making payments last May 12.


BAER SRL: Requests for Preventive Contest
-----------------------------------------
Baer SRL requested for preventive contest.


DELICIAS FORESTACIONES: Creditors' Proofs of Debt Due on Nov. 11
----------------------------------------------------------------
The court-appointed trustee for Delicias Forestaciones S.A.'s
bankruptcy proceedings, will be verifying creditors' proofs of
claim until November 11, 2010.

The trustee will present the validated claims in court as
individual reports on December 27, 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
March 9, 2011.


VANZAL SA: Asks for Opening of Preventive Contest
-------------------------------------------------
Vanzal SA asked for opening of preventive contest.

The company stopped making payments last July 30.


VIAL 3: Creditors' Pproofs of Debt Due on December 3
----------------------------------------------------
Estudio Contable Cupito, the court-appointed trustee for Vial 3
SA's reorganization proceedings, will be verifying creditors'
proofs of claim until December 3, 2010.

The trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 33, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Estudio Contable Cupito
         Posadas 1564
         Argentina


* ARGENTINA: Moody's Downgrades Mendoza's Issuer Rating to 'B2'
---------------------------------------------------------------

Moody's Latin America has downgraded the Province of Mendoza's
issuer ratings to B2 from B1 (Global Scale) and to A1.ar from
Aa3.ar (National Scale).  The outlook is stable.  The national
scale rating on Mendoza's foreign currency unsecured bonds has
also been downgraded to A1.ar from Aa3.ar.  The global rating on
these bonds remains at B2.

The downgrade of Mendoza's ratings reflect an increasing reliance
on debt financing coming from the federal government (B3, stable
outlook), as the province's operating margins, albeit positive,
have been declining since 2006.  While Mendoza's credit metrics
remain relatively sound and empirical evidence on recovery rates
demonstrates that the province's bondholders suffered lower
haircuts than the sovereign bondholders following the 2001-02 debt
crisis, Moody's recognize that Mendoza's increasing financial
dependence on federal funding reduces its financial flexibility
and draws its credit profile closer to the sovereign.

The Province of Mendoza is rated at the middle of the rating range
of Argentina's regional and local governments, whose ratings span
from B3 to B1.  Mendoza' position relative to national peers
reflects a GDP per capita higher than the B3 rated entities and a
relatively strong own-source revenue base partially offset by an
increasing reliance on federal debt financing (to date, B1 rated
entities have not relied on this financing).

Moody's Argentina National Scale ratings are opinions of the
relative creditworthiness of issuers and issues within Argentina
and are not globally comparable.  The Moody's Global Scale rating
allows investors to compare the province's creditworthiness to all
other issuers in the world.  It incorporates all Argentina-related
risks, including the potential volatility of the Argentine
economy.

MOODY'S adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources MOODY'S considers to be reliable including, when
appropriate, independent third-party sources.  However, MOODY'S is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


* ARGENTINA: S&P Raises Global Scale Ratings on Cordoba to 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its global scale
ratings on the Province of Cordoba to 'B' from 'B-', following the
sovereign upgrade on the Republic of Argentina.  The outlook
remains stable.

"This rating action is based on the province's close links to the
sovereign in terms of current revenue transfers, and the financing
the sovereign provides to local governments in Argentina," said
Standard & Poor's credit analyst Delfina Cavanagh.

Standard & Poor's Ratings Services' rating on the Province of
Cordoba reflects the high risk inherent to Argentina.  Negative
local factors include high inflation, low investment, and lack of
predictability regarding the direction of economic policies in
Argentina.  The province's relatively high debt and limited fiscal
flexibility also constrain the ratings.

"Prudent fiscal management, which led to six consecutive years of
balanced budgets (after capital expenditures) before 2009,
somewhat offsets the risks," said Ms. Cavanagh.  "A well-
diversified economic structure, which tends to minimize Cordoba's
vulnerability to unexpected economic shocks, also supports the
province's creditworthiness."

Standard & Poor's expects revenues will increase significantly in
2010 as the economy recovers, but also expects spending will
increase materially as a consequence of high inflation.  The
budget for 2010 reflects relatively high capital spending,
providing some flexibility to face unexpected shocks.


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


BERNARD MADOFF: Lawyer Awarded Costs for Tracking Down Funds
------------------------------------------------------------
Bermuda's Williams Barristers & Attorneys has been awarded $77,789
in costs for helping track down Bernard L. Madoff's assets, Alex
Wright at The Royal Gazette reports, citing New York based media
company, The AM Law Daily.

According to the report, The AM Law Daily said that US bankruptcy
judge Burton Lifland has so far approved more than $3 million in
fees and expense requests by 10 firms assisting Baker & Hostetler
in recovering the money.  The report, citing the New York Law
Journal, Baker partner Irving Picard, court-appointed trustee in
the bankruptcy, has personally been awarded more than $35 million
in fees and expenses for work done by his firm in the case.

To date, the New York Law Journal said that Baker & Hostetler as a
whole has received close to $97 million for its Madoff work, The
Gazette notes.  The New York Law Journal said that Judge Lifland
approved roughly $601,000 in additional fees for Mr. Picard and
$34.6 million to Baker & Hostetler for work done in the case
between February 1 and May 31, The Gazette adds.

                   About Bernard L. Madoff

Bernard L. Madoff Investment Securities LLC and Bernard L. Madoff
orchestrated the largest Ponzi scheme in history, with losses
topping US$50 billion.

On December 15, 2008, the Honorable Louis A. Stanton of the U.S.
District Court for the Southern District of New York granted the
application of the Securities Investor Protection Corporation for
a decree adjudicating that the customers of BLMIS are in need of
the protection afforded by the Securities Investor Protection Act
of 1970.  The District Court's Protective Order (i) appointed
Irving H. Picard, Esq., as trustee for the liquidation of BLMIS,
(ii) appointed Baker & Hostetler LLP as his counsel, and (iii)
removed the SIPA Liquidation proceeding to the Bankruptcy Court
(Bankr. S.D.N.Y. Adv. Pro. No. 08-01789) (Lifland, J.).

On April 13, 2009, former BLMIS clients filed an involuntary
Chapter 7 bankruptcy petition against Bernard Madoff (Bankr.
S.D.N.Y. 09-11893).  The case is before Hon. Burton Lifland.  The
petitioning creditors -- Blumenthal & Associates Florida General
Partnership, Martin Rappaport Charitable Remainder Unitrust,
Martin Rappaport, Marc Cherno, and Steven Morganstern -- assert
US$64 million in claims against Mr. Madoff based on the balances
contained in the last statements they got from BLMIS.

On April 14, 2009, Grant Thornton UK LLP as receiver placed Madoff
Securities International Limited in London under bankruptcy
protection pursuant to Chapter 15 of the U.S. Bankruptcy Code
(Bankr. S.D. Fla. 09-16751).

The Chapter 15 case was later transferred to Manhattan.  In June
2009, Judge Lifland approved the consolidation of the Madoff SIPA
proceedings and the bankruptcy case.

Judge Denny Chin of the U.S. District Court for the Southern
District of New York on June 29, 2009, sentenced Mr. Madoff to
150 years of life imprisonment for defrauding investors in United
States v. Madoff, No. 09-CR-213 (S.D.N.Y.)

As of August 13, 2010, a total of US$5,578,441,409 in claims by
investors has been allowed, with US$715,602,064 to be paid by the
SIPC.  Investors are expected to receive additional distributions
from money recovered by Mr. Picard.

Mr. Picard has recovered a number of assets and in liquidated some
of those assets for the benefit of customers, totaling
US$1,183,779,811 as of November 2009.


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


INDEPENDENCIA SA: Moody's Downgrades Corp. Family Rating to 'C'
---------------------------------------------------------------
Moody's has lowered IndependEncia S.A.'s corporate family rating
to C from Caa3 and the foreign-currency debt rating of the
guaranteed US$165 million 2015 Bonds to Ca from Caa1.  The outlook
for the ratings is stable.

Ratings lowered:

  - Independencia S.A.'s Corporate Family Rating to C from Caa3

  - US$165 million 12,0 % senior secured guaranteed notes due 2015
    to Ca from Caa1

                         Ratings Rationale

The ratings downgrade reflects the company's very weak liquidity
situation arising in part from the inability to successfully
resume cattle slaughtering operations following its emergence from
bankruptcy in March 2010; currently all operations are sporadic at
the company's cattle slaughtering facilities.  The rating action
also considers the agreement that Independencia has reached at a
court hearing on 13 September 2010 to postpone its September and
October's monthly payments to Nov. 8th 2010 to pre-petition cattle
suppliers and others that were owed under its judicial recovery
plan due to its low cash balance.

The US$165 million bond issuance in March 2010, was part of
IndependEncia's bankruptcy exit strategy and designed to provide
the company sufficient working capital to ramp up operations and
pay off existing suppliers and creditors.  The net proceeds of
bond issuance were approximately BRL251 million after converting
into local currency and covering issuance and legal fees related
to the deal.  A significant portion of the remaining funds were
destined for the pre-petition suppliers (BRL126m) and other
existing financial creditors (BRL50m) leaving only BRL72 million
for working capital needs during the months of March and April
2010.  This ultimately proved to be insufficient as all cattle
slaughtering facilities are currently idle due to a lack of
available working capital funds; the company's cash balance was
BRL5.4 million at 30 June 2010.  As a result, the company would be
unable to meet its objective of slaughtering 3,475 heads per day
by the end of 2010, thereby impacting its cash generating
capacity.  The ability of the company to meet its upcoming
interest payments on its US$165mm bond is uncertain given its
precarious liquidity situation.

The Ca rating of the US$165 million bonds reflects its expected
higher recovery in a distressed situation relative to other
creditors arising from its first priority lien on substantially
all assets of the issuer and the note guarantors, including
chattel mortgage on all current property, plant and real estate to
the creditors.  Creditors secured by chattel mortgage have full
priority and are payable with preference over existing pre-
petition claims and even post-petition, priority claims, including
ACC loans.

Moody's last rating action on IndependEncia was on March 12th,
2010, when Moody's assigned a (Caa3 CFR and a Caa1 rating to the
guaranteed foreign-currency US$165 million 2015 bonds.

IndependEncia is owned by IndependEncia Participacoes S.A. which
in turn is owned 78,2% by the Russo family, with the remaining
21.8% owned by BNDESPar.  Since May 2010, BNDESPar has been under
a lawsuit arbitration with IndependEncia Participacoes S.A. to
recover its BRL250 million (approx.  US$146 million) equity
investment in IndependEncia.  It is a non-recourse litigation to
IndependEncia.

Headquartered in Cajamar, Sao Paulo, Brazil, Independencia filed
on February 27th, 2009, for court protection under the Brazilian
Bankruptcy and Reorganization Law 11.101/05 in Brazil and Chapter
15 of the U.S. Bankruptcy Code in the United States.
IndependEncia currently does not have any of its 15 slaughtering
plants operating, other than some of its deboning and leather
facilities.  Seven of the slaughtering plants are owned and the
other eight are leased.  IndependEncia has capacity to produce
1,700 tons of dry meat (beef jerky) per month and to warehouse
8,775 tons of beef.

                     Regulatory Disclosures

Information sources used to prepare the credit rating are these:
parties involved in the ratings, parties not involved in the
ratings, public information, confidential and proprietary Moody's
Investors Service's information.

Moody's Investors Service considers the quality of information
available on the issuer or obligation satisfactory for the
purposes of maintaining a credit rating.

MOODY'S adopts all necessary measures so that the information it
uses in assigning a credit rating is of sufficient quality and
from sources MOODY'S considers to be reliable including, when
appropriate, independent third-party sources.  However, MOODY'S is
not an auditor and cannot in every instance independently verify
or validate information received in the rating process.


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


AALL STAR: Creditors' Proofs of Debt Due on October 13
------------------------------------------------------
The creditors of Aall Star Asset Management Ltd. are required to
file their proofs of debt by October 13, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on September 2,
2010.

The company's liquidator is:

         Patrick Shaunessy
         Telephone: (345) 949-5588
         Facsimile: (345) 945-5772
         The Crighton Building
         Suite 201 256 Crewe Road
         P.O. Box 1166, Grand Cayman KY1-1102


CANYON INVESTMENTS: Sole Member to Hear Wind-Up Report on Oct. 12
-----------------------------------------------------------------
The sole member of Canyon Investments Limited will receive, on
October 12, 2010, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Paul Wrench
         Arnold House
         St Julian's Avenue Sp Peter Port
         Guernsey, GY1 3NF


CHAMBERI LIMITED: Shareholders' Final Meeting Set for October 15
----------------------------------------------------------------
The shareholders of Chamberi Limited will hold their final
meeting, on October 15, 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:

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


CPIM GLOBAL: Shareholders' Final Meeting Set for October 15
-----------------------------------------------------------
The shareholders of CPIM Global Financials Fund Inc. will hold
their final meeting, on October 15, 2010, at 9:30 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


EUROPEAN RENAISSANCE: Members' Final Meeting Set for October 4
--------------------------------------------------------------
The members of European Renaissance Fund Limited will hold their
final meeting, on October 4, 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 Sarah Moxam
         Telephone: (345) 949 7000
         Facsimile: (345) 945 4237
         PO Box 258, Grand Cayman KY1-1104
         Cayman Islands


GOLD ARROW: Creditors' Proofs of Debt Due on October 14
-------------------------------------------------------
The creditors of Gold Arrow Global Mining (Offshore) Fund, Ltd.
are required to file their proofs of debt by October 14, 2010, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on September 1,
2010.

The company's liquidator is:

         K.D. Blake
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands
         c/o Gerhard Albertyn
         Telephone: 345-914-4395
         Facsimile: 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-4800
         Facsimile: 345-949-7164


GS ASSOCIATED: Shareholders' Final Meeting Set for October 15
-------------------------------------------------------------
The shareholders of GS Associated Partners Access Offshore
Advisors, Inc. will hold their final meeting, on October 15, 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 Corporate Services Limited
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9002
         Cayman Islands


IBIS ASSET: Shareholders' Final Meeting Set for October 15
----------------------------------------------------------
The shareholders of Ibis Asset Management (Cayman) Ltd will hold
their final meeting, on October 15, 2010, at 8:30 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


IVY SENTINEL: Shareholders' Final Meeting Set for October 15
------------------------------------------------------------
The shareholders of IVY Sentinel II Leveraged Feeder Fund, Ltd.
will hold their final meeting, on October 15, 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 Fund Services Limited
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9002
         Cayman Islands


LION/RALLY: Creditors' Proofs of Debt Due on October 8
------------------------------------------------------
The creditors of Lion/Rally Cayman 6 are required to file their
proofs of debt by October 8, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on September 2, 2010.

The company's liquidators are:

         E. Andrew Hersant
         Christopher Humphries
         Stuarts Walker Hersant
         Telephone: (345) 949 3344
         Facsimile: (345) 949 2888
         P.O. Box 2510, Grand Cayman KY1-1104
         Cayman Islands


LION/RALLY: Members' Final Meeting Set for October 11
-----------------------------------------------------
The members of Lion/Rally Cayman 6 will hold their final meeting,
on October 11, 2010, at 9:00 a.m., to receive the liquidators'
report on the company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on September 2, 2010.

The company's liquidators are:

         E. Andrew Hersant
         Christopher Humphries
         Stuarts Walker Hersant
         Telephone: (345) 949 3344
         Facsimile: (345) 949 2888
         P.O. Box 2510, Grand Cayman KY1-1104
         Cayman Islands


LOOMIS SAYLES: Shareholders' Final Meeting Set for October 15
-------------------------------------------------------------
The shareholders of Loomis Sayles Energy Master Fund Ltd. will
hold their final meeting, on October 15, 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 Corporate Services Limited
         Walker House, 87 Mary Street
         George Town Grand Cayman KY1-9002
         Cayman Islands


MALBEC EMERGING: Shareholders' Final Meeting Set for October 5
--------------------------------------------------------------
The shareholders of Malbec Emerging Markets Opportunities Fund,
SPC will hold their final meeting, on October 5, 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:

         Reid Services Limited
         Clifton House, 75 Fort Street
         P.O. Box 190, Grand Cayman, KY1-1104
         Cayman Islands


MALBEC EMERGING: Shareholders' Final Meeting Set for October 5
--------------------------------------------------------------
The shareholders of Malbec Emerging Markets Opportunities GP
Limited will hold their final meeting, on October 5, 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:

         Reid Services Limited
         Clifton House, 75 Fort Street
         P.O. Box 190, Grand Cayman, KY1-1104
         Cayman Islands


NATIONAL PEN: Members' Final Meeting Set for October 4
------------------------------------------------------
The members of National Pen Ltd. will hold their final meeting, on
October 4, 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:

         Stuart Sybersma
         c/o Mervin Solas Deloitte & Touche
         P.O. Box 1787, Grand Cayman KY1-1109
         Cayman Islands
         Telephone: (345) 949-7500
         Facsimile: (345) 949-8258


OFFSHORE DATA: Creditors' Proofs of Debt Due on October 13
----------------------------------------------------------
The creditors of Offshore Data Systems Ltd. are required to file
their proofs of debt by October 13, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on September 2,
2010.

The company's liquidator is:

         Patrick Shaunessy
         Telephone: (345) 949-5588
         Facsimile: (345) 945-5772
         The Crighton Building
         Suite 201 256 Crewe Road
         P.O. Box 1166, Grand Cayman KY1-1102


TUDOR EMERGING: Members' Final Meeting Set for October 27
---------------------------------------------------------
The members of Tudor Emerging Markets GP Ltd. will hold their
final meeting, on October 27, 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
         Cayman Islands


TUDOR GLOBAL: Members' Final Meeting Set for October 27
-------------------------------------------------------
The members of Tudor Global Emerging Markets Fund Ltd. will hold
their final meeting, on October 27, 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
         Cayman Islands


UBS JAPAN: Members' Final Meeting Set for October 4
---------------------------------------------------
The members of UBS Japan Opportunities Master Limited will hold
their final meeting, on October 4, 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:

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


UBS JAPAN: Members' Final Meeting Set for October 4
---------------------------------------------------
The members of UBS Japan Opportunities Limited will hold their
final meeting, on October 4, 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:

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


VEDIOR INSURANCE: Members' Final Meeting Set for September 24
-------------------------------------------------------------
The members of Vedior Insurance, Ltd. will hold their final
meeting, on October 24, 2010, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

Sean Bradley and Ronald Fucillo are the company's liquidators.


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


DIGICEL GROUP: To Bring Mobile Money Service to Caribbean
---------------------------------------------------------
Antonia Graham at Jamaica Gleaner reports that Digicel Group is
set to be the first to bring a mobile money service to the
Caribbean when it launches a pilot project in Haiti come October.

According to the report, citing a press release, the project will
be done in collaboration with a large non-governmental
organization, which runs a cash-for-work program and operates a
major bank in the French-speaking nation.  "The mobile money
concept is guaranteed to take off in Haiti where mobile
penetration stands at over 35 per cent -- up from a low five per
cent before Digicel's launch in 2006," the release the report
relates.

                       About Digicel Group

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

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

                          *     *     *

As of January 14, 2010, the company continues to carry Moody's
"Caa1" senior unsecured debt rating.


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P A R A G U A Y
===============


BANCO BILBAO: S&P Assigns 'B+/B' Counterparty Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its
'B+/B' counterparty credit rating to Banco Bilbao Vizcaya
Argentaria Paraguay.  The outlook is positive.

"S&P's rating on BBVA Paraguay is constrained by Paraguay's high
industry and country risk.  In addition, its portfolio
concentration in the agriculture sector--though similar to that of
the Paraguayan GDP concentration--and a highly competitive
environment also limit the rating.  The bank's good market
position and its healthy financials support the rating," said
Standard & Poor's credit analyst Delfina Cavanagh.

S&P considers BBVA Paraguay a strategically important subsidiary
of Banco Bilbao Vizcaya Argentaria S.A. (AA/Negative/A-1+).  But
the ratings on the bank reflect its stand-alone credit profile.
The company's strategically important status according to S&P's
group methodology reflects several factors, including parent
BBVA's full ownership of its Paraguayan subsidiary and its
integration in terms of business strategy.

Headquartered in Asunci?n, BBVA Paraguay is the second-largest
bank in Paraguay in terms of loans, with a 16% market share; and
the third-largest bank in terms of deposits, with a 14% market
share as of June 2010.  The bank offers diverse products through
its 16 branches, but mainly focuses on corporate loans, which
account for approximately 90% of the bank's total loans.

The positive outlook reflects the outlook on the Paraguayan
sovereign credit ratings.  S&P could raise the ratings on the bank
if S&P raise the sovereign ratings, reflecting the explicit
support provided by BBVA.


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


CL FINANCIAL: Clico Liquidator Solicits Interests for Securities
----------------------------------------------------------------
Johann Earle at Guyana Chronicle Online reports that in its
ongoing efforts to liquidate the assets of Clico Life and General
Insurance Company (South America) Limited, the liquidator has
invited expressions of interests for the purchase of a number of
securities that had been owned by the company before it was wound
up.  Clico is a unit of CL Financial Limited.

According to the report, citing a notice in the press, the shares
available are:

   -- Banks DIH Limited - 16,242,720 common shares;
   -- Republic Bank Limited - 300,000 common shares;
   -- Berbice Bridge Company Inc - 80,000,000 common shares;
   -- Berbice Bridge Company Inc - Subordinate Loan Stock with a
      face value of $400,000,000 bearing an annual interest rate
      of 11%; and
   -- Berbice Bridge Company Inc: Loan stock of $40 million
      bearing an interest rate of 7%.

In listing the procedures for submission of Expressions of
Interest, the notice said that persons must submit them to the
liquidator by the deadline submission date of September 24, 2010,
indicating the level and nature of their interest in each of the
specified securities and their capacity and timelines to conclude
a transaction, the report relates.

Guyana Chronicle notes that the notice said that all Expressions
of Interest should be placed in a sealed envelope and deposited to
the Liquidator, Clico Head Office, 191 Camp Street, Georgetown.
"Clico, under liquidation, is not bound to accept any Expression
of Interest and reserves the right to deal and/or treat any or all
of the Expressions of Interest in a manner it deems fit," the
notice added, the report says.

                         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
===============


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

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


ARGENTINA

IMPSAT FIBER NET     IMPTQ US         535007008      -17165000
IMPSAT FIBER-BLK     IMPTB AR         535007008      -17165000
IMPSAT FIBER-$US     IMPTD AR         535007008      -17165000
IMPSAT FIBER NET     330902Q GR       535007008      -17165000
IMPSAT FIBER-C/E     IMPTC AR         535007008      -17165000
IMPSAT FIBER NET     XIMPT SM         535007008      -17165000
IMPSAT FIBER-CED     IMPT AR          535007008      -17165000
AUTOPISTAS SOL       APDSF US         364771500    -6265989.03
AUTOPISTAS SOL       AUSO AR          364771500    -6265989.03
SOC COMERCIAL PL     CADN SW          135685132     -249657810
COMERCIAL PLA-BL     COMEB AR         135685132     -249657810
SOC COMERCIAL PL     CADN EO          135685132     -249657810
SOC COMERCIAL PL     CVVIF US         135685132     -249657810
COMERCIAL PL-C/E     COMEC AR         135685132     -249657810
COMERCIAL PL-ADR     SCPDS LI         135685132     -249657810
SOC COMERCIAL PL     CAD IX           135685132     -249657810
SOC COMERCIAL PL     COME AR          135685132     -249657810
COMERCIAL PLAT-$     COMED AR         135685132     -249657810
SOC COMERCIAL PL     SCDPF US         135685132     -249657810
SNIAFA SA            SNIA AR           11229696    -2670544.88
SNIAFA SA-B          SDAGF US          11229696    -2670544.88
SNIAFA SA-B          SNIA5 AR          11229696    -2670544.88


BRAZIL

FER C ATLANT         VSPT3 BZ         1.185E+09    -50468104.7
FER C ATL-RCT PF     VSPT10 BZ        1.185E+09    -50468104.7
FERROVIA CEN-DVD     VSPT11 BZ        1.185E+09    -50468104.7
FER C ATL-RCT CM     VSPT9 BZ         1.185E+09    -50468104.7
FER C ATLANT-PRF     VSPT4 BZ         1.185E+09    -50468104.7
FERROVIA CEN-DVD     VSPT12 BZ        1.185E+09    -50468104.7
VARIG SA-PREF        VARGPN BZ        966298026    -4695211316
VARIG SA             VARGON BZ        966298026    -4695211316
VARIG SA-PREF        VAGV4 BZ         966298026    -4695211316
VARIG SA             VAGV3 BZ         966298026    -4695211316
LAEP INVESTMENTS     LEAP LX          446499199    -70952298.9
LAEP-BDR             MILK11 BZ        446499199    -70952298.9
PARMALAT             LCSA3 BZ         388720052     -213641144
PARMALAT BR-RT P     LCSA6 BZ         388720052     -213641144
PARMALAT-PREF        LCSA4 BZ         388720052     -213641144
PARMALAT BRAS-PF     LCSAPN BZ        388720052     -213641144
PARMALAT BR-RT C     LCSA5 BZ         388720052     -213641144
PARMALAT BRASIL      LCSAON BZ        388720052     -213641144
CIA PETROLIF-PRF     MRLM4 BZ         377602195    -3014291.72
CIA PETROLIFERA      MRLM3B BZ        377602195    -3014291.72
CIA PETROLIFERA      MRLM3 BZ         377602195    -3014291.72
CIA PETROLIF-PRF     MRLM4B BZ        377602195    -3014291.72
CIA PETROLIF-PRF     1CPMPN BZ        377602195    -3014291.72
CIA PETROLIFERA      1CPMON BZ        377602195    -3014291.72
DOCA INVESTI-PFD     DOCA4 BZ         319046939     -119089653
DOCAS SA             DOCAON BZ        319046939     -119089653
DOCA INVESTIMENT     DOCA3 BZ         319046939     -119089653
DOCAS SA-RTS PRF     DOCA2 BZ         319046939     -119089653
DOCAS SA-PREF        DOCAPN BZ        319046939     -119089653
BOMBRIL CIRIO-PF     BOBRPN BZ        292257859     -115839632
BOMBRIL CIRIO SA     BOBRON BZ        292257859     -115839632
BOMBRIL-RGTS PRE     BOBR2 BZ         292257859     -115839632
BOMBRIL              BOBR3 BZ         292257859     -115839632
BOMBRIL SA-ADR       BMBPY US         292257859     -115839632
BOMBRIL              BMBBF US         292257859     -115839632
BOMBRIL-RIGHTS       BOBR1 BZ         292257859     -115839632
BOMBRIL-PREF         BOBR4 BZ         292257859     -115839632
BOMBRIL SA-ADR       BMBBY US         292257859     -115839632
TELEBRAS-CM RCPT     RCTB30 BZ        244716404    -14836627.7
TELEBRAS-CEDEA $     TEL4D AR         244716404    -14836627.7
TELEBRAS-ADR         TBAPY US         244716404    -14836627.7
TELEBRAS SA-PREF     TELB4 BZ         244716404    -14836627.7
TELEBRAS-PF BLCK     TELB40 BZ        244716404    -14836627.7
TELEBRAS-RTS PRF     RCTB2 BZ         244716404    -14836627.7
TELEBRAS-RTS CMN     TCLP1 BZ         244716404    -14836627.7
TELEBRAS-PF RCPT     RCTB41 BZ        244716404    -14836627.7
TELEBRAS-PF RCPT     CBRZF US         244716404    -14836627.7
TELEBRAS-CEDE BL     RCT4B AR         244716404    -14836627.7
TELEBRAS-CEDE PF     TELB4 AR         244716404    -14836627.7
TELEBRAS-CED C/E     TEL4C AR         244716404    -14836627.7
TELEBRAS-CM RCPT     RCTB31 BZ        244716404    -14836627.7
TELEBRAS SA-PREF     TLBRPN BZ        244716404    -14836627.7
TELEBRAS-RCT PRF     TELB10 BZ        244716404    -14836627.7
TELEBRAS-CM RCPT     TELE31 BZ        244716404    -14836627.7
TELEBRAS-PF RCPT     RCTB40 BZ        244716404    -14836627.7
TELEBRAS SA-RT       TELB9 BZ         244716404    -14836627.7
TELEBRAS/W-I-ADR     TBH-W US         244716404    -14836627.7
TELEBRAS-PF RCPT     TELE41 BZ        244716404    -14836627.7
TELEBRAS-PF RCPT     TBAPF US         244716404    -14836627.7
TELEBRAS-RECEIPT     TLBRUO BZ        244716404    -14836627.7
TELEBRAS SA          TBASF US         244716404    -14836627.7
TELEBRAS-ADR         RTB US           244716404    -14836627.7
TELEBRAS-CED C/E     RCT4C AR         244716404    -14836627.7
TELECOMUNICA-ADR     81370Z BZ        244716404    -14836627.7
TELEBRAS-BLOCK       TELB30 BZ        244716404    -14836627.7
TELEBRAS-RCT         RCTB33 BZ        244716404    -14836627.7
TELEBRAS-ADR         TBRAY GR         244716404    -14836627.7
TELEBRAS-RTS CMN     RCTB1 BZ         244716404    -14836627.7
TELEBRAS-CM RCPT     RCTB32 BZ        244716404    -14836627.7
TELEBRAS-ADR         TBH US           244716404    -14836627.7
TELEBRAS-CEDE PF     RCTB4 AR         244716404    -14836627.7
TELEBRAS-CEDEA $     RCT4D AR         244716404    -14836627.7
TELEBRAS-CM RCPT     TBRTF US         244716404    -14836627.7
TELEBRAS-PF RCPT     TLBRUP BZ        244716404    -14836627.7
TELEBRAS-COM RT      TELB1 BZ         244716404    -14836627.7
TELEBRAS-ADR         TBX GR           244716404    -14836627.7
TELEBRAS-RTS PRF     TLCP2 BZ         244716404    -14836627.7
TELEBRAS-PF RCPT     RCTB42 BZ        244716404    -14836627.7
TELEBRAS SA          TELB3 BZ         244716404    -14836627.7
TELEBRAS-ADR         TBASY US         244716404    -14836627.7
TELEBRAS SA          TLBRON BZ        244716404    -14836627.7
HOTEIS OTHON SA      HOTHON BZ        238707299    -35774972.9
HOTEIS OTHON SA      HOOT3 BZ         238707299    -35774972.9
HOTEIS OTHON-PRF     HOOT4 BZ         238707299    -35774972.9
HOTEIS OTHON-PRF     HOTHPN BZ        238707299    -35774972.9
TEKA                 TKTQF US         237346006     -337859942
TEKA                 TEKA3 BZ         237346006     -337859942
TEKA                 TEKAON BZ        237346006     -337859942
TEKA-PREF            TEKAPN BZ        237346006     -337859942
TEKA-ADR             TKTPY US         237346006     -337859942
TEKA-ADR             TKTQY US         237346006     -337859942
TEKA-ADR             TEKAY US         237346006     -337859942
TEKA-PREF            TEKA4 BZ         237346006     -337859942
TEKA-PREF            TKTPF US         237346006     -337859942
BALADARE             BLDR3 BZ         159454016    -52992212.8
SANSUY               SNSY3 BZ         147187163    -86606310.8
SANSUY SA            SNSYON BZ        147187163    -86606310.8
SANSUY-PREF A        SNSY5 BZ         147187163    -86606310.8
SANSUY-PREF B        SNSY6 BZ         147187163    -86606310.8
SANSUY SA-PREF A     SNSYAN BZ        147187163    -86606310.8
SANSUY SA-PREF B     SNSYBN BZ        147187163    -86606310.8
GRADIENTE EL-PRC     IGBCN BZ         145256033     -273857292
GRADIENTE-PREF A     IGBR5 BZ         145256033     -273857292
IGB ELETRONICA       IGBR3 BZ         145256033     -273857292
GRADIENTE EL-PRB     IGBBN BZ         145256033     -273857292
GRADIENTE-PREF C     IGBR7 BZ         145256033     -273857292
GRADIENTE EL-PRA     IGBAN BZ         145256033     -273857292
GRADIENTE ELETR      IGBON BZ         145256033     -273857292
GRADIENTE-PREF B     IGBR6 BZ         145256033     -273857292
D H B                DHBI3 BZ         139112728     -464095219
DHB IND E COM-PR     DHBPN BZ         139112728     -464095219
D H B-PREF           DHBI4 BZ         139112728     -464095219
DHB IND E COM        DHBON BZ         139112728     -464095219
PET MANGUINH-PRF     RPMG4 BZ         128717705     -153478601
PET MANG-RIGHTS      3678565Q BZ      128717705     -153478601
PET MANG-RECEIPT     RPMG9 BZ         128717705     -153478601
PETRO MANGUINHOS     RPMG3 BZ         128717705     -153478601
PET MANG-RT          RPMG1 BZ         128717705     -153478601
PET MANG-RIGHTS      3678569Q BZ      128717705     -153478601
PETRO MANGUIN-PF     MANGPN BZ        128717705     -153478601
PET MANG-RECEIPT     RPMG10 BZ        128717705     -153478601
PET MANG-RT          RPMG2 BZ         128717705     -153478601
PETRO MANGUINHOS     MANGON BZ        128717705     -153478601
VARIG PART EM SE     VPSC3 BZ          96617351     -460274609
VARIG PART EM-PR     VPSC4 BZ          96617351     -460274609
RIMET-PREF           REEMPN BZ         94618909     -152507221
RIMET-PREF           REEM4 BZ          94618909     -152507221
RIMET                REEMON BZ         94618909     -152507221
RIMET                REEM3 BZ          94618909     -152507221
DOC IMBITUBA-RTC     IMBI1 BZ          94039192    -39398915.1
DOCAS IMBITUB-PR     IMBIPN BZ         94039192    -39398915.1
DOC IMBITUBA-RTP     IMBI2 BZ          94039192    -39398915.1
DOCAS IMBITUBA       IMBION BZ         94039192    -39398915.1
DOC IMBITUBA         IMBI3 BZ          94039192    -39398915.1
DOC IMBITUB-PREF     IMBI4 BZ          94039192    -39398915.1
WETZEL SA-PREF       MWELPN BZ         84310496    -7570637.42
WETZEL SA            MWET3 BZ          84310496    -7570637.42
WETZEL SA            MWELON BZ         84310496    -7570637.42
WETZEL SA-PREF       MWET4 BZ          84310496    -7570637.42
ACO ALTONA-PREF      EAAPN BZ          80346370    -11622480.4
ACO ALTONA SA        EAAON BZ          80346370    -11622480.4
ACO ALTONA           EALT3 BZ          80346370    -11622480.4
ACO ALTONA-PREF      EALT4 BZ          80346370    -11622480.4
ESTRELA SA-PREF      ESTRPN BZ         76255458    -69760619.7
ESTRELA SA           ESTR3 BZ          76255458    -69760619.7
ESTRELA SA-PREF      ESTR4 BZ          76255458    -69760619.7
ESTRELA SA           ESTRON BZ         76255458    -69760619.7
RIOSULENSE SA-PR     RSULPN BZ         68368524    -9647727.04
RIOSULENSE SA        RSUL3 BZ          68368524    -9647727.04
RIOSULENSE SA        RSULON BZ         68368524    -9647727.04
RIOSULENSE SA-PR     RSUL4 BZ          68368524    -9647727.04
TEXTEIS RENAU-RT     TXRX2 BZ          63634626    -91597740.4
TEXTEIS RENA-RCT     TXRX9 BZ          63634626    -91597740.4
RENAUXVIEW SA        TXRX3 BZ          63634626    -91597740.4
TEXTEIS RENAUX       RENXPN BZ         63634626    -91597740.4
RENAUXVIEW SA-PF     TXRX4 BZ          63634626    -91597740.4
TEXTEIS RENA-RCT     TXRX10 BZ         63634626    -91597740.4
TEXTEIS RENAU-RT     TXRX1 BZ          63634626    -91597740.4
TEXTEIS RENAUX       RENXON BZ         63634626    -91597740.4
MINUPAR SA-PREF      MNPRPN BZ         63223032    -58260845.7
MINUPAR-RT           MNPR1 BZ          63223032    -58260845.7
MINUPAR-RCT          MNPR9 BZ          63223032    -58260845.7
MINUPAR-PREF         MNPR4 BZ          63223032    -58260845.7
MINUPAR SA           MNPRON BZ         63223032    -58260845.7
MINUPAR              MNPR3 BZ          63223032    -58260845.7
FABRICA RENAUX-P     FRNXPN BZ         63036915      -59781833
FABRICA RENAUX       FRNXON BZ         63036915      -59781833
FABRICA TECID-RT     FTRX1 BZ          63036915      -59781833
FABRICA RENAUX-P     FTRX4 BZ          63036915      -59781833
FABRICA RENAUX       FTRX3 BZ          63036915      -59781833
VARIG PART EM TR     VPTA3 BZ          49432124     -399290426
VARIG PART EM-PR     VPTA4 BZ          49432124     -399290426
WIEST-PREF           WISA4 BZ          39838114    -93371563.1
WIEST                WISA3 BZ          39838114    -93371563.1
WIEST SA             WISAON BZ         39838114    -93371563.1
WIEST SA-PREF        WISAPN BZ         39838114    -93371563.1
CIMOB PART-PREF      GAFP4 BZ          36817395    -33083086.5
CIMOB PART-PREF      GAFPN BZ          36817395    -33083086.5
CIMOB PARTIC SA      GAFP3 BZ          36817395    -33083086.5
CIMOB PARTIC SA      GAFON BZ          36817395    -33083086.5
STAROUP SA-PREF      STARPN BZ         35101567    -13482713.5
BOTUCATU-PREF        STRP4 BZ          35101567    -13482713.5
STAROUP SA           STARON BZ         35101567    -13482713.5
BOTUCATU TEXTIL      STRP3 BZ          35101567    -13482713.5
SANESALTO            SNST3 BZ          31044051    -1843297.83
STEEL - RT           STLB1 BZ          22548846     -4346785.7
STEEL DO BRASIL      STLB3 BZ          22548846     -4346785.7
STEEL - RCT ORD      STLB9 BZ          22548846     -4346785.7
CHIARELLI SA-PRF     CCHI4 BZ          22274027    -44537138.2
CHIARELLI SA         CCHI3 BZ          22274027    -44537138.2
CHIARELLI SA-PRF     CCHPN BZ          22274027    -44537138.2
CHIARELLI SA         CCHON BZ          22274027    -44537138.2
NOVA AMERICA SA      1NOVON BZ         21287489     -183535527
NOVA AMERICA SA      NOVA3 BZ          21287489     -183535527
NOVA AMERICA-PRF     1NOVPN BZ         21287489     -183535527
NOVA AMERICA-PRF     NOVA4B BZ         21287489     -183535527
NOVA AMERICA SA      NOVA3B BZ         21287489     -183535527
NOVA AMERICA-PRF     NOVAPN BZ         21287489     -183535527
NOVA AMERICA-PRF     NOVA4 BZ          21287489     -183535527
NOVA AMERICA SA      NOVAON BZ         21287489     -183535527
CAF BRASILIA         CAFE3 BZ          18540302     -790303366
CAF BRASILIA-PRF     CAFE4 BZ          18540302     -790303366
CAFE BRASILIA SA     CSBRON BZ         18540302     -790303366
CAFE BRASILIA-PR     CSBRPN BZ         18540302     -790303366
TECEL S JOSE         SJOS3 BZ          17924946    -18569451.2
TECEL S JOSE-PRF     SJOS4 BZ          17924946    -18569451.2
TECEL S JOSE         FTSJON BZ         17924946    -18569451.2
TECEL S JOSE-PRF     FTSJPN BZ         17924946    -18569451.2
FERRAGENS HAGA-P     HAGAPN BZ         17657785    -62285757.3
FERRAGENS HAGA       HAGAON BZ         17657785    -62285757.3
FER HAGA-PREF        HAGA4 BZ          17657785    -62285757.3
HAGA                 HAGA3 BZ          17657785    -62285757.3
NORDON MET           NORD3 BZ          15427479    -20563974.4
NORDON METAL         NORDON BZ         15427479    -20563974.4
NORDON MET-RTS       NORD1 BZ          15427479    -20563974.4
SCHLOSSER-PREF       SCLO4 BZ          13140656    -56631899.1
SCHLOSSER SA         SCHON BZ          13140656    -56631899.1
SCHLOSSER            SCLO3 BZ          13140656    -56631899.1
SCHLOSSER SA-PRF     SCHPN BZ          13140656    -56631899.1
PROMAN               PRMN3B BZ         13088926    -87154.5455
PROMAN               PRMN3 BZ          13088926    -87154.5455
GAZOLA SA            GAZON BZ          12452143    -40298506.3
GAZOLA SA-DVD PF     GAZO12 BZ         12452143    -40298506.3
GAZOLA-PREF          GAZO4 BZ          12452143    -40298506.3
GAZOLA-RCPT PREF     GAZO10 BZ         12452143    -40298506.3
GAZOLA SA-DVD CM     GAZO11 BZ         12452143    -40298506.3
GAZOLA               GAZO3 BZ          12452143    -40298506.3
GAZOLA SA-PREF       GAZPN BZ          12452143    -40298506.3
GAZOLA-RCPTS CMN     GAZO9 BZ          12452143    -40298506.3
ARTHUR LANGE SA      ALICON BZ         11642256    -17154461.9
ARTHUR LANG-RC C     ARLA9 BZ          11642256    -17154461.9
ARTHUR LAN-DVD P     ARLA12 BZ         11642256    -17154461.9
ARTHUR LANGE         ARLA3 BZ          11642256    -17154461.9
ARTHUR LAN-DVD C     ARLA11 BZ         11642256    -17154461.9
ARTHUR LANG-RC P     ARLA10 BZ         11642256    -17154461.9
ARTHUR LANGE-PRF     ARLA4 BZ          11642256    -17154461.9
ARTHUR LANG-RT C     ARLA1 BZ          11642256    -17154461.9
ARTHUR LANGE-PRF     ALICPN BZ         11642256    -17154461.9
ARTHUR LANG-RT P     ARLA2 BZ          11642256    -17154461.9
HERCULES-PREF        HETA4 BZ          10710103     -164239944
HERCULES SA          HERTON BZ         10710103     -164239944
HERCULES SA-PREF     HERTPN BZ         10710103     -164239944
HERCULES             HETA3 BZ          10710103     -164239944


CHILE

CHILESAT CORP SA     TELEX CI         649980376    -82003656.5
TELEX-RTS            TELEXO CI        649980376    -82003656.5
CHILESAT CO-ADR      TL US            649980376    -82003656.5
TELMEX CORP-ADR      CSAOY US         649980376    -82003656.5
TELEX-A              TELEXA CI        649980376    -82003656.5
CHILESAT CO-RTS      CHISATOS CI      649980376    -82003656.5
TELMEX CORP SA       CHILESAT CI      649980376    -82003656.5
INVERMAR             INVERMAR CI      200945008    -2078000.13
INVERMAR-RT          INVEROSA CI      200945008    -2078000.13


                            ***********

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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