TCRLA_Public/101104.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, November 4, 2010, Vol. 11, No. 218

                            Headlines



A R G E N T I N A

BAIWO SA: Creditors' Proofs of Debt Due November 29
BIOANALISIS SRL: Creditors' Proofs of Debt Due February 9
CENTURY CD: Creditors' Proofs of Debt Due December 17
LUIS SASSO: Creditors' Proofs of Debt Due December 6
MEDICAL WORKERS: Creditors' Proofs of Debt Due February 14

MELPELA SRL: Creditors' Proofs of Debt Due December 20
OXIGEM SRL: Creditors' Proofs of Debt Due November 30
RECITRANS SA: Creditors' Proofs of Debt Due December 6
REPSTAY SRL: Requests for Preventive Contest
TOWER NET: Creditors' Proofs of Debt Due December 28

VALE TRANS: Creditors' Proofs of Debt Due December 28


B R A Z I L

BANCO MERCANTIL: S&P Raises Counterparty Credit Ratings to 'B+'
BROOKFIELD INCORPORACOES: Fitch Affirms BB- Issuer Default Rating


C A Y M A N  I S L A N D S

BROADLAWN MASTER: Creditors' Proofs of Debt Due November 15
CASPIAN KING: Creditors' Proofs of Debt Due November 25
CLARION CBO: Creditors' Proofs of Debt Due November 25
CLASIX FINANCE: Creditors' Proofs of Debt Due November 25
CMA MULTI-HEDGE: Creditors' Proofs of Debt Due November 22

CREMER INTERNATIONAL: Creditors' Proofs of Debt Due November 15
CROWN GLOBAL: Creditors' Proofs of Debt Due November 25
DAGGERBOARD GLOBAL: Creditors' Proofs of Debt Due November 15
DAI-ICHI LIFE: Creditors' Proofs of Debt Due November 25
DAI-ICHI LIFE: Creditors' Proofs of Debt Due November 25

DRAWBRIDGE EQUITY: Creditors' Proofs of Debt Due November 25
ELLIOTT EBARA: Creditors' Proofs of Debt Due November 25
F&C TOURMALINE: Creditors' Proofs of Debt Due November 25
F&C TOURMALINE: Creditors' Proofs of Debt Due November 25
INVESTCORP SILVERBACK: Creditors' Proofs of Debt Due November 25

INVESTCORP SILVERBACK: Creditors' Proofs of Debt Due November 25
LOKE HOLDINGS: Creditors' Proofs of Debt Due November 25
SAISONCARD SPV: Creditors' Proofs of Debt Due November 25
TGM EQUITIES: Creditors' Proofs of Debt Due November 29
WESSEX GLOBAL: Creditors' Proofs of Debt Due November 25


D O M I N I C A N  R E P U B L I C

ITABO DOMINICANA: Fitch Assigns 'B-/RR4' Rating to Proposed Loan


G U A T E M A L A

* GUATEMALA: Receives US$250 Million From IDB


M E X I C O

CABLEMAS SA: S&P Affirms 'BB+' Global Corporate Credit Rating


N I C A R A G U A

* NICARAGUA: To Improve its Transport System With IDB Loan


P U E R T O  R I C O

CARIAN MANAGEMENT: Plan Outline Hearing Set for December 1


V E N E Z U E L A

SIDETUR: To Challenge State Takeover


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                            - - - - -


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


BAIWO SA: Creditors' Proofs of Debt Due November 29
---------------------------------------------------
Mirta Haydee Addario, the court-appointed trustee for Baiwo SA's
bankruptcy proceedings will be verifying creditors' proofs of
claim until November 29, 2010.

Ms. Addario will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk
No. 12, 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:

         Mirta Haydee Addario
         Lavalle 1454
         Argentina


BIOANALISIS SRL: Creditors' Proofs of Debt Due February 9
---------------------------------------------------------
Jorge Testa, the court-appointed trustee for Bioanalisis SRL's
bankruptcy proceedings will be verifying creditors' proofs of
claim until February 9, 2010.

Mr. Testa will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 18
in Buenos Aires, with the assistance of Clerk No. 35, 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:

         Jorge Testa
         Maipu 459
         Argentina


CENTURY CD: Creditors' Proofs of Debt Due December 17
-----------------------------------------------------
The court-appointed trustee for Century CD S.A.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 17, 2010.

The trustee will present the validated claims in court as
individual reports on March 2, 2011.  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
April 13, 2011.


LUIS SASSO: Creditors' Proofs of Debt Due December 6
----------------------------------------------------
The court-appointed trustee for Luis Sasso S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 6, 2010.

The trustee will present the validated claims in court as
individual reports on February 18, 2011.  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
April 5, 2011.


MEDICAL WORKERS: Creditors' Proofs of Debt Due February 14
----------------------------------------------------------
The court-appointed trustee for Medical Workers S.A.'s
reorganization proceedings, will be verifying creditors' proofs of
claim until February 14, 2011.

The trustee will present the validated claims in court as
individual reports on March 28, 2011.  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
May 9, 2011.

Creditors will vote to ratify the completed settlement plan
during the assembly on November 22, 2011.


MELPELA SRL: Creditors' Proofs of Debt Due December 20
------------------------------------------------------
The court-appointed trustee for Melpela S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 20, 2010.


OXIGEM SRL: Creditors' Proofs of Debt Due November 30
-----------------------------------------------------
The court-appointed trustee for Oxigem S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
November 30, 2010.

The trustee will present the validated claims in court as
individual reports on February 18, 2011.  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
April 1, 2011.


RECITRANS SA: Creditors' Proofs of Debt Due December 6
------------------------------------------------------
Alicia Rita Romeo, the court-appointed trustee for Recitrans SA's
bankruptcy proceedings will be verifying creditors' proofs of
claim until December 6, 2010.

Ms. Romeo will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 14
in Buenos Aires, with the assistance of Clerk No. 27, 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:

         Alicia Rita Romeo
         Parana 26
         Argentina


REPSTAY SRL: Requests for Preventive Contest
--------------------------------------------
Repstay SRL requested for preventive contest.  The company stopped
making payments last July 14.


TOWER NET: Creditors' Proofs of Debt Due December 28
----------------------------------------------------
The court-appointed trustee for Tower Net S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 28, 2010.

The trustee will present the validated claims in court as
individual reports on March 15, 2011.  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
April 29, 2011.


VALE TRANS: Creditors' Proofs of Debt Due December 28
-----------------------------------------------------
The court-appointed trustee for Vale Trans S.R.L.'s bankruptcy
proceedings, will be verifying creditors' proofs of claim until
December 28, 2010.

The trustee will present the validated claims in court as
individual reports on March 10, 2011.  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
April 22, 2011.


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

BANCO MERCANTIL: S&P Raises Counterparty Credit Ratings to 'B+'
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its ratings
on Banco Mercantil Do Brasil S.A., including raising the long-term
counterparty credit ratings to 'B+' from from 'B' and to 'brBBB'
from 'brBBB-' on the global and Brazilian national scales,
respectively.  At the same time, S&P affirmed the 'B' short-term
global scale counterparty credit rating on the bank.

The outlook is stable.

"The upgrade of BMB reflects the improvements the bank has
demonstrated in its governance practices and in its financial
profile," said Standard & Poor's credit analyst Sebasti?n
Liutvinas.  "BMB has shown signs of advances during 2010, lending
activity has been increasing significantly, asset quality has
improved, and capitalization and financial flexibility have
enhanced because of capital injections and subordinated debt
issuance in the global markets."

The ratings on BMB reflect S&P's view of the bank's low
profitability compared with the industry's, given its costly
regional retail structure without appropriate scale, and lower
capitalization than peers'.

Those risks are partially offset by its adequate liquidity and
good funding profile, benefiting from its flow of retail network
deposits and its low dependence on institutional investors.  BMB
has also demonstrated a good track record in its regional market.

The stable outlook balances BMB's low profitability prospects with
S&P's expectation that it can keep expanding its loan portfolio
while maintaining adequate asset quality.


BROOKFIELD INCORPORACOES: Fitch Affirms BB- Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Ratings and
outstanding debt ratings of Brookfield Incorporacoes S.A.
(Brookfield Incorporacoes) and Brookfield Sao Paulo
Empreendimentos Imobiliarios S.A. (Brookfield SP) and related
issuances:

Brookfield Incorporacoes S.A.

  -- Long-term foreign currency IDR at 'BB-';

  -- Long-term local currency IDR at 'BB-';

  -- Long-term National Scale rating at 'A+(bra)';

  -- BRL100 million first debenture issuance due September 2013 at
     'A+(bra)';

  -- BRL366 million second debenture issuance (first series of
     BRL284.66 million due 2014 and second series of BRL81.4
     million due 2016) at 'A+(bra)'.

Brookfield Sao Paulo Empreendimentos Imobiliarios S.A.

  -- Long-term foreign currency IDR at 'BB-';

  -- Long-term local currency IDR at 'BB-';

  -- Long-term National Scale rating at 'A+(bra)';

  -- BRL75 million third debenture issuance due Jun 2012 at
     'A+(bra)'.

The Rating Outlook for the corporate ratings is Stable.

The ratings reflect Brookfield Incorporacoes' increasing scale of
operations, which have been carried out through strategic
acquisitions in 2008.  The company has grown to rank among the
country's five largest real estate developers in terms of project
launches; the integration of its operations, which includes a
solid and geographically diversified land bank; the strong
shareholders structure and the capital support of the controlling
group.  The ratings also consider the company's good liquidity,
strengthened by the receivables from concluded units not linked to
debt; operating margins and sales speed in line with the average
for the sector; and its adequate debt profile.  The ratings are
constrained by the moderate leverage and still negative cash flow
from operations, due to the strong growth of its business.

The ratings of Brookfield SP reflect the ratings of its holding
company, Brookfield Incorporacoes, which are based on the
consolidated position of Brookfield Incorporacoes and its 100%
ownership of Brookfield SP, which operates as a regional unit,
integrated to Brookfield Incorporacoes.

Good Liquidity:

Brookfield Incorporacoes has historically maintained a good
liquidity position.  At end June 2010, total of cash and
marketable securities was BRL502 million and total debt was
BRL1,731 million.  Liquidity is strengthened by mortgages
(receivables) for completed units.  This position provides a
comfortable liquidity margin and improves the company's financial
flexibility.  Brookfield Incorporacoes had debt maturities of
BRL130 million in the second half of 2010 and BRL593 million in
2011.  Out of total debt maturing up to December 2011, unsecure
debt accounted for BRL34 million in the second half of 2010 and
BRL352 million in 2011.  Fitch believes that the company will
conservatively maintain a good cash cushion and will be able to
repay its debt with a combination of cash and debt refinancing.

Moderate Leverage:

Brookfield Incorporacoes' ratings are constrained by the company's
moderate leverage.  In the LTM ended June 2010, leverage, measured
as total debt/EBITDA ratio, was 3.1 times, was stable compared to
2009 and lower than the ratio of 5.0x reported in 2008.  During
the same period, net leverage was 2.2x, compared to 1.8x in 2009
and 3.9x in 2008.  If SFH financing is excluded, leverage would be
reduced to 2.1x and net leverage to 1.2x.  Fitch expects leverage
ratio to increase to about 4.0x in 2011 and 2012, as total debt
should increase to support the development of new projects.

Brookfield Incorporacoes' total debt increased to BRL1.731 billion
in June 2010, from BRL1.181 billion in December 2009.  This
increase was due to new issuances in January 2010 of BRL366
million debentures due in 2014 and 2016, and SFH lines.  The
company has mainly used medium-term funding and SFH financing to
support its growth strategy.  Brookfield Incorporacoes has an
adequate debt profile, with SFH financing representing about 33%
of total debt.  The SFH lines are paid following deliver of the
unit and the transfer of mortgage (receivables).

EBITDA Margins Consistent with Sector's Average:

Brookfield Incorporacoes reported a significant increase in net
revenues and adjusted EBITDA following the consolidation of its
acquisitions.  Net revenues grew 117% in LTM ended June 2010, to
BRL2,687 million, and EBITDA increased to BRL558 million, compared
to BRL215 million in 2008.  Adjusted EBITDA margin was 20.8% and
was in line with the average for the sector.  This ratio compares
negatively with 27.1% reported in 2008, as the diversification of
project launches by income segment towards the low and middle-low
income segments has reduced the company's margins.  Fitch expects
Adjusted EBITDA margin to remain around 20% in 2010 and 2011.

Brookfield Incorporacoes was able to preserve adequate sales speed
despite the challenging macroeconomic conditions in 2009.  In the
LTM ended September 2010, Brookfield Incorporacoes launched a PSV
of BRL2.5 billion of residential projects and the company reported
pre-sales of BRL2.3 billion.  Sales speed, measured by total
residential pre-sales/residential project launches ratio, was 92%
in the period and was in line with the industry.  In the office
building segment, the company launched a PSV of BRL700 million and
sold BRL1.1 billion in the same period.  This performance led
Brookfield Incorporacoes to increase the targets for presales to
between BRL3.5 billion and BRL4 billion in 2011.

Cash Flow Should Remain Negative in 2011 and 2012:

Brookfield Incorporacoes generated BRL533 million in funds from
operations in the LTM ended June 2010, compared with BRL576
million in 2008.  Despite higher EBITDA in the period, the
company's cash generation capacity did not as increased financial
expenses due to higher indebtedness pressured its cash flow.  Cash
flow from operations remained negative in BRL605 million and
should remain negative in the next couple of years, as Brookfield
Incorporacoes continues to grow project launches to more than BRL8
billion up to 2012.

Solid Track Record in the Brazilian Market:

Brookfield Incorporacoes is among the five largest real estate
companies in Brazil by project launches and has operated in the
sector for over 30 years in residential and commercial projects.
The company expanded regionally and by income segment over the
last three years through acquisitions and absorbed the management
and expertise of the acquired companies.  Brookfield Incorporacoes
counts on a sizeable and diversified land bank by income segment
and region of BRL16.3 billion PSV, which may cover around four
years of project launches.  The composition reflects the company's
strategy towards product diversification.

The company is 42.6% indirectly owned by Brookfield Asset
Management Inc. (BAM, 'BBB' IDR by Fitch), an international asset
manager firm with over US$100 billion of assets under management,
of which around US$41 billion in real estate, and with a large
investment in Brazil of around BRL18 billion assets under
management.

Potential Rating or Outlook Drivers:

The ratings could be upgraded in the case of a consistent
improvement in the free cash flow generation capacity and a
reduction in leverage ratios to more conservative levels.
Brookfield Incorporacoes' ratings could be negatively affected by
a more unstable macroeconomic environment, which may impact the
homebuilding sector's fundamentals and pressure the company's
liquidity.  Events like an increase in leverage, a decline in
operating margins to levels below the sector average, or a
significant reduction in liquidity could lead to consideration of
a Negative Outlook or a rating downgrade.


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


BROADLAWN MASTER: Creditors' Proofs of Debt Due November 15
-----------------------------------------------------------
The creditors of Broadlawn Master Fund, Ltd. are required to file
their proofs of debt by November 15, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on October 1, 2010.

The company's liquidator is:

         Ogier
         c/o Joel Reid
         Telephone: (345) 815 1828
         Facsimile: (345) 949-9877
         c/o Ogier 89 Nexus Way
         Camana Bay Grand Cayman KY1-9007
         Cayman Islands


CASPIAN KING: Creditors' Proofs of Debt Due November 25
-------------------------------------------------------
The creditors of Caspian King Limited are required to file their
proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 14, 2010.

The company's liquidator is:

         Marc Randall
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


CLARION CBO: Creditors' Proofs of Debt Due November 25
------------------------------------------------------
The creditors of Clarion CBO, Limited are required to file their
proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 14, 2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


CLASIX FINANCE: Creditors' Proofs of Debt Due November 25
---------------------------------------------------------
The creditors of Clasix Finance Limited are required to file their
proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 13, 2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


CMA MULTI-HEDGE: Creditors' Proofs of Debt Due November 22
----------------------------------------------------------
The creditors of CMA Multi-Hedge Ltd are required to file their
proofs of debt by November 22, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 22, 2010.

The company's liquidators are:

         Peter Martin Blair
         David Peter Martin Blair
         25 Eden Quay Dublin 1
         Ireland
         Telephone: 356 2702 2799
         Facsimile: 356 2702 2899


CREMER INTERNATIONAL: Creditors' Proofs of Debt Due November 15
---------------------------------------------------------------
The creditors of Cremer International Ltd. are required to file
their proofs of debt by November 15, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on July 6, 2010.

The company's liquidator is:

         Ogier
         Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877
         c/o Ogier 89 Nexus Way
         Camana Bay Grand Cayman KY1-9007
         Cayman Islands


CROWN GLOBAL: Creditors' Proofs of Debt Due November 25
-------------------------------------------------------
The creditors of Crown Global Investments Limited are required to
file their proofs of debt by November 25, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on October 5, 2010.

The company's liquidator is:

         Marc Randall
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


DAGGERBOARD GLOBAL: Creditors' Proofs of Debt Due November 15
-------------------------------------------------------------
The creditors of Daggerboard Global Macro Fund, Ltd. are required
to file their proofs of debt by November 15, 2010, to be included
in the company's dividend distribution.

The company commenced wind-up proceedings on October 13, 2010.

The company's liquidator is:

         Ogier
         Jonathan Bernstein
         Telephone: (345) 815-1897
         Facsimile: (345) 949-9877
         c/o Ogier 89 Nexus Way
         Camana Bay Grand Cayman KY1-9007
         Cayman Islands


DAI-ICHI LIFE: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of The Dai-Ichi Life Funding SPV Holdings IV are
required to file their proofs of debt by November 25, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on October 13, 2010.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


DAI-ICHI LIFE: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of The Dai-Ichi Life Funding SPV Holdings III are
required to file their proofs of debt by November 25, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on October 15, 2010.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


DRAWBRIDGE EQUITY: Creditors' Proofs of Debt Due November 25
------------------------------------------------------------
The creditors of Drawbridge Equity Index Products I Ltd. are
required to file their proofs of debt by November 25, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on September 30,
2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


ELLIOTT EBARA: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of Elliott Ebara Company Limited are required to
file their proofs of debt by November 25, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on October 12, 2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


F&C TOURMALINE: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of F&C Tourmaline Master Fund Limited are required
to file their proofs of debt by November 25, 2010, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on October 7, 2010.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand CaymanKY1-1102
         Cayman Islands


F&C TOURMALINE: Creditors' Proofs of Debt Due November 25
---------------------------------------------------------
The creditors of F&C Tourmaline Fund Limited are required to file
their proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 7, 2010.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand CaymanKY1-1102
         Cayman Islands


INVESTCORP SILVERBACK: Creditors' Proofs of Debt Due November 25
----------------------------------------------------------------
The creditors of Investcorp Silverback Opportunistic Convertible
Fund Limited are required to file their proofs of debt by
November 25, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on October 15, 2010.

The company's liquidator is:

         Paget-Brown Trust Company Ltd.
         c/o Evania Ebanks
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         Boundary Hall, Cricket Square
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


INVESTCORP SILVERBACK: Creditors' Proofs of Debt Due November 25
----------------------------------------------------------------
The creditors of Investcorp Silverback Opportunistic Convertible
Master Fund are required to file their proofs of debt by
November 25, 2010, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on October 15, 2010.

The company's liquidator is:

         Paget-Brown Trust Company Ltd.
         c/o Evania Ebanks
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         Boundary Hall, Cricket Square
         PO Box 1111, Grand Cayman KY1-1102
         Cayman Islands


LOKE HOLDINGS: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of Loke Holdings Limited are required to file their
proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 8, 2010.

The company's liquidator is:

         Victor Murray
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand CaymanKY1-1102
         Cayman Islands


SAISONCARD SPV: Creditors' Proofs of Debt Due November 25
---------------------------------------------------------
The creditors of Saisoncard SPV Holdings are required to file
their proofs of debt by November 25, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 15, 2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


TGM EQUITIES: Creditors' Proofs of Debt Due November 29
-------------------------------------------------------
The creditors of TGM Equities International are required to file
their proofs of debt by November 29, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 7, 2010.

The company's liquidator is:

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


WESSEX GLOBAL: Creditors' Proofs of Debt Due November 25
--------------------------------------------------------
The creditors of Wessex Global Water Fund Limited are required to
file their proofs of debt by November 25, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on October 15, 2010.

The company's liquidator is:

         Jess Shakespeare
         c/o Maples Finance Limited
         PO Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


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


ITABO DOMINICANA: Fitch Assigns 'B-/RR4' Rating to Proposed Loan
----------------------------------------------------------------
Fitch Ratings expects to assign a 'B-/RR4' long-term rating to
Itabo Dominicana SPV's proposed issuance maturing 2020.  The notes
are guaranteed by Empresa Generadora de Electricidad Itabo, S.A.
and the notes are attached to AES Andres Dominican SPV's notes.
As port of this transaction, Fitch has also assigned an Issuer
Default Rating of 'B-' with a Stable Outlook to Itabo Dominicana
SPV.  Concurrently, Fitch has affirmed Itabo's national long-term
rating of 'BBB(dom)'.  This rating action applies to approximately
US$25 million of local debt issuance program.

Itabo's ratings reflect the company's dependence upon government
subsidies for its financial sustainability.  Notwithstanding
recent improvements in the timeliness of government payments, the
risks of operating electric generation assets in the Dominican
Republic remain high and reflect the distribution companies' low
collections and high losses.  These risks translate into high cash
flow volatility for all generation companies.

The sector trends are favorable mostly as a result of the
Dominican Republic's new stand-by arrangement with the
International Monetary Fund.  As part of this stand-by
arrangement, the government committed to implement structural
reforms in the electricity sector that should ensure its self-
sustainability and lower the sector's dependence on government
transfers.  The most relevant change for the country's electricity
generators was the government's commitment to remain current with
its payments to these companies.

Ratings Constrained by Credit Quality of the Government:

The Dominican Republic power sector is characterized by low
collections from end users and high electricity losses.  Such
conditions have kept distribution companies from effectively
transferring cash to the country's generation companies, and the
government subsidies have covered this gap during recent years.
This links the credit quality of the distribution and generation
companies in the country to that of the sovereign.

Over the past five years, distribution companies' gross margin
(losses) has amounted to a negative US$1.76 billion (or US$350
million on average per year).  Total government transfers to the
sector have been significantly higher than this given that
distribution companies have not generated any positive cash flow
from operation since before 2005.  Although above historical
levels, distribution companies' cash recovery index continues to
be low at approximately 68.5%, on average, for the first quarter
of 2010.  This means that of all the electricity that goes into
the national grid, only 68.5% is paid for and the balance
disappears as theft, nonpayment, free electricity and technical
losses.

IMF Agreement Positive for Generators:

The agreement signed with the IMF seeks to gradually eliminate the
tariff deficit; increase the cash recovery index to 70% from the
historical 50% by converting approximately 600,000 non-paying
users into paying and metered users; and eliminate free
electricity (PRA) zones.  The agreement should also result in
focused subsidies and the creation of a central account to pay all
generation companies.

Under terms of the agreement, electricity generators should now be
paid by the government within 45 days.  This compares with an
average of approximately 170 to 200 days during the past few
years.  The new management team of the distribution companies has
adhered to the recently revised electricity law and has also
implemented loss reduction programs such as the zero debt - zero
theft initiative.

Strong Credit Protection Measures:

The company's historical financial profile is considered strong
for the rating.  However, during the first half of 2010, EBITDA
was negatively affected by lower sale prices and higher fuel cost
due to tariff adjustment lag under the company's power purchase
agreement coupled with an unfavorable coal contract.  For the last
12 months ended June 30, 2010 the company reported EBITDA of only
US$16 million, down from US$70 million reported during 2009.
Going forward, as the coal contracts expire, EBITDA is expected to
marginally increase, yet stay below historical levels.  The
company's total debt of US$125 million was composed of senior
unsecured notes maturing in 2013.  This translated into a leverage
ratio of approximately 8.0 times and 1.8x for the LTM ended June
30, 2010 and Dec. 31, 2009, respectively.

Itabo has benefited from the distribution companies' improved
payment track record during recent months and as of LTM June 30,
2010 and year-end 2009, the company's funds from operations
increased to US$67 million and US$134 million, respectively, from
negative US$12 million during 2008.  This translated into a solid
liquidity position for the company supported by its cash on hand
position of approximately US$71 million as of June 30, 2010.

Strong Competitive Position:

Itabo's ratings are supported by its strong competitive position
as the lowest-cost thermoelectric generator in the country.  Itabo
operates two low-cost, carbon-fueled electric generation units and
sells electricity to three distribution companies through well-
structured, long-term U.S.-dollar denominated purchase power
agreements.  While multiple off-takers diversify its revenue
stream, and long-dated PPAs mitigate price and volume risks, Itabo
could face collection risks from the electric distribution
companies, which are still in the process of improving their own
losses and collection rates.

Itabo's fuel mix of coal and pet coke as well as its base load
operating characteristics provide it with competitive advantages
versus other thermoelectric generators in the country.  However,
the company's recent coal supply contracts at unfavorable prices
will weigh on its cash flow generation during the next three
years.  Itabo is a low-cost thermoelectric generator, which is
usually the first unit to be dispatched in the Interconnected
National Electric System after the hydroelectric plants.  Should
new hydroelectric or other cost efficient generation units come
on-line, Itabo's competitive advantage is expected to be only
marginally affected, and still be dispatched as a base load unit.


=================
G U A T E M A L A
=================


* GUATEMALA: Receives US$250 Million From IDB
---------------------------------------------
The Inter-American Development Bank approved US$250 million in
financing to help Guatemala's government prepare, supervise,
strengthen and monitor its national climate change agenda and to
develop an institutional framework for the plan's implementation.

The project will lead to the establishment of the Interagency
Commission of Climate Change, the issuance of a national climate
change policy and the creation of climate change units in the
Ministries of Finance (MINFIN) and Environment and Natural
Resources (MARN).  It will also help to create a National Policy
for Disaster Risk Reduction that addresses the climate change
variable.  Disaster risk management will subsequently be
incorporated in the 2012 working plans of several ministries.
In the area of mitigation, a methodology will be developed for
offsetting greenhouse gas emissions using the principles of the UN
Intergovernmental Panel on Climate Change. The program also
includes a pilot project for energy efficiency and environmental
measures for execution at MINFIN.

Adaptation is particularly important for Guatemala, one of the 10
countries most vulnerable to climate change in the world.  It is
also the fourth most vulnerable to natural disasters, according to
the United Nations.  So far this year Guatemala has been affected
by the eruption of the Pacaya volcano, tropical storm Agatha, and
the wettest rainy season of the last 60 years. These events have
claimed 235 lives, forced the evacuation of 208,000 people,
destroyed nearly 15,000 dwellings, caused major damage to road,
educational and sanitation infrastructure, and threatened the food
security of thousands of families.  The government began to
address the challenges of climate change in 1998.  It has just
completed preparation of a national policy on climate change.

This programmatic policy-based operation will be disbursed in four
tranches, the first of US$100 million and the other three of US$50
million each over a total of 18 months.  It will be accompanied by
a parallel technical assistance package.  MINFIN will be the
program's executing agency.

The IDB financing consists of a US$213.2 million loan for 20 years
with a variable interest rate based on LIBOR, a US$29.4 million
loan for 30 years with a fixed interest rate, and a US$7.4 million
concessional loan for 40 years with a 0.25 percent annual interest
rate.

                          *     *     *

As of November 3, 2010, the country continues to carry Moody's
"Ba2" country ceiling long-term foreign bank deposit rating and
"Ba1" currency issuer ratings.


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


CABLEMAS SA: S&P Affirms 'BB+' Global Corporate Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'BB+'
global scale corporate credit and senior unsecured ratings on
Cablemas S.A. de C.V.  The outlook is stable.

"Standard & Poor's rating on Cablemas reflects the company's
significant cable-TV subscriber base, high-quality network, and
leading role in the consolidating cable-TV sector in Mexico," said
Standard & Poor's credit analyst Marcela Duenas.

Offsetting factors include considerable competition within the
pay-TV industry in Mexico and from telephone incumbent Telefonos
de Mexico, Mexico's largest broadband Internet access provider;
foreign-exchange risks; and heavier investments necessary to
upgrade the network to keep pace with technology.

The rating also reflects the 58.3% participation of Grupo Televisa
S.A.B. (BBB+/Stable/--) in Cablemas' equity.  S&P believes that
Cablemas represents a strategic asset to Televisa because Cablemas
is the second-largest cable operator in Mexico by number of
subscribers.  Nevertheless, the ratings are not equalized, because
Televisa doesn't hold a majority voting share in the cable
company.

Cablemas offers video, Internet, and telephony.  It is the
concessionaire with the broadest coverage in Mexico, operating in
49 cities throughout the country.


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


* NICARAGUA: To Improve its Transport System With IDB Loan
----------------------------------------------------------
Nicaragua will improve the efficiency and safety of its
transportation system with a US$20.2 million loan approved by the
Inter-American Development Bank.

The project will help reduce vehicle operating costs, increase
travel speeds, reduce accident rates and foster adaptation of road
infrastructure to climate change impacts.  The resources, to be
administered by Nicaragua's Ministry of Transport and
Infrastructure (MTI) and the Road Maintenance Fund (FOMAV), will
help stimulate economic activity and contribute to the well-being
of the Nicaraguan population.

The competitiveness of Nicaragua's industry, agriculture and
commerce depends on the effectiveness and efficiency of the
transport system.  Some 300,000 trucks travel over the national
road system, carrying more than 10 million tons of freight
annually, of which more than 25% is foreign trade cargo.  Road
transport is indispensable for the integration of the productive
regions to the national economy and the main link between
productive sectors and export markets.  Therefore, the project
will advance the integration of Nicaragua's regions with the rest
of Central America.

The loan proceeds will focus on infrastructure to improve
productive roads and through works that include paving, structural
reinforcements, drainage, construction of bridges and road signs.
FOMAV will also finance periodic maintenance works to ensure
investment sustainability.

This is one of three loans to Nicaragua as part of the Transport
Sector Support Program for the period 2010-2012, which estimates a
total investment of US$75 million from the IDB.  The Program's
multiyear approach makes it attractive for the donor community to
participate with resources in addition to the Bank's financing.
The goal is to leverage resources for the parallel financing of
US$75 million totaling US$150 million for this sector over the
next three years.

Since 2004, the IDB has approved four projects for Nicaragua in
the transport sector for a total of US$158.9 million.  When all
the activities planned under this cycle of projects are completed
approximately 380 kilometers of the national road network will
have been rehabilitated and improved and special maintenance will
have been undertaken for another 580 kilometers.

The IDB loan is comprised of US$10.1 million from the Bank's
ordinary capital and US$10.1 from the Fund for Special Operations.
The first is a loan for a 30-year term with a grace period of 5
1/2 years and an interest rate based on LIBOR.  The second loan
has a 40-year term with a grace period of 40 years and an interest
rate of 0.25%.

                             *     *     *

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


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


CARIAN MANAGEMENT: Plan Outline Hearing Set for December 1
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico will
convene a hearing on December 1, 2010, at 9:00 a.m., to consider
adequacy of the Disclosure Statement explaining Carian Management,
Inc.'s proposed Plan of Reorganization.  Objections, if any, are
due 15 days prior to the hearing.

The Debtors will begin soliciting votes on the Plan following
approval of the adequacy of the information in the Disclosure
Statement.

According to the Disclosure Statement, the Plan will be
substantially supported by the Debtor's operations and the
possible sale or surrender of assets in payment to the Debtor's
creditor Banco Popular de Puerto Rico (through Westernbank), if
necessary to ensure the Debtor's operation.

The rents generated by the lease of the Debtor's properties will
be sufficient to fund the Plan.

                 Treatment of Claims and Interests

Class 2 Secured Claim of Banco Popular - The Debtor will combine
the two outstanding term loans into a single loan with an
amortization period of 30 years and an interest rate of the prime
rate plus 1%.  This will result in a lower monthly payment for the
Debtor.  The obligation is secured up to an amount of
US$11,892,000.  The remaining portion of the obligation will be
treated as unsecured.

Class 3 Secured Claim of CRIM (US$166,369) will be paid over the
course of 72 monthly payments plus interest at the prime rate.

Class 5 General Unsecured Creditors (US$5,965,721).  AAA Imports,
Inc., will take on the US$4,855,504 Westernbank revolving loan.
Carian will accept responsibility for AAA Imports' obligation as
an unsecured debt but will not make any payments on the obligation
unless AAA Imports defaults.  With respect to the remaining
claims, the Debtor will distribute a dividend of 10% on all claims
paid over the course of 72 months from the effective date.

A full-text copy of the Disclosure Statement is available for free
at http://bankrupt.com/misc/CarianManagement_DS.pdf

                   About Carian Management, Inc.

Dorado, Puerto Rico-based Carian Management, Inc.'s prime business
is the ownership, maintenance and development of the real property
that it leases to its sister company, AAA Imports and other
customers.  The Company filed for Chapter 11 protection on May 13,
2010 (Bankr. D. P.R. Case No. 10-04052).  Carmen D. Torres, Esq.,
at the Law Offices of C. Conde, assists the Debtor in its
restructuring effort.  The Company estimated its assets and debts
at $10 million to $50 million.

The Company's affiliate, AAA Imports, Inc., filed a separate
Chapter 11 petition on May 12, 2010.


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


SIDETUR: To Challenge State Takeover
------------------------------------
Sidetur -- Siderurgica del Turbio SA -- vowed to challenge
President Hugo Chavez's order to expropriate its assets, even as
soldiers arrived to oversee the takeover, The Jamaica Gleaner
reports.  The report relates that Sidetur's board of directors
issued a statement promising legal action to protect its
"employees, clients, suppliers and shareholders."

According to The Jamaica Gleaner, President Chavez ordered the
expropriation of Sidetur, saying it is part of his strategy to
transform Venezuela into a socialist state.  The report relates
President Chavez said that the company has been selling products
such as rebar at inflated prices on the domestic market, though
the company said its prices have been frozen since 2006 despite
rampant inflation in the overall economy.

The company statement said that under Venezuelan law, only a judge
can order the takeover of a company, and only after payment of an
assessed price for the assets, The Jamaica Gleaner notes.

It suggested that the takeover could damage the government's own
infrastructure and construction plans, the report relates.

The Jamaica Gleaner notes that Sidetur also said its 1,857 workers
"will be affected, along with their families, by the expropriation
measure."

President Chavez, The Jamaica Gleaner adds, ordered the National
Guard to safeguard the company's plants as his government proceeds
with the expropriation and he urged the company's employees to
cooperate with government officials rather than protest the
takeover.

Sidetur -- Siderurgica del Turbio SA -- is Venezuela's largest
privately owned steel producer also exports products including
steel beams, angles and flats to Latin America, Africa, Asia and
Europe.  The company is a subsidiary of Siderurgica de Venezuela
SA.


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


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


                            ***********

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. Agravante, 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 * * *