TCRLA_Public/101115.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

           Monday, November 15, 2010, Vol. 11, No. 225

                            Headlines



A R G E N T I N A

E-TAO: Creditors' Proofs of Debt Due February 11
MANASO SRL: Creditors' Proofs of Debt Due December 2
PELOSO SRL: Creditors' Proofs of Debt Due December 10


B E R M U D A

CLAREVILLE CAPITAL: Creditors' Proofs of Debt Due November 17
CLAREVILLE CAPITAL: Members' Final Meeting Set for December 8
GLOBAL CROSSING: Moody's Assigns 'Caa2' Rating to Senior Notes
LEHIGH ENTERPRISES: Creditors' Proofs of Debt Due November 18
LEHIGH ENTERPRISES: Member to Receive Wind-Up Report on Dec. 3


C A Y M A N  I S L A N D S

ALLIANCE: Shareholders' Final Meeting Set for November 30
ALPHA MEZZ: Shareholders' Final Meeting Set for November 30
AS FOUR: Creditors' Proofs of Debt Due December 8
AS PORTSQUARE: Creditors' Proofs of Debt Due December 8
BANK VONTOBEL: Shareholders' Final Meeting Set for November 16

BENSON ELLIOT: Members' Final Meeting Set for November 23
BUKHATIR INVESTMENTS: Creditors' Proofs of Debt Due December 8
CORAL BAY: Members' Final Meeting Set for November 26
DELFINO 15: Creditors' Proofs of Debt Due November 19
GREAT OAKS: Shareholder to Hear Wind-Up Report on November 16

HALMORE OVERSEAS: Commences Liquidation Proceedings
JADE GLOBAL: Creditors' Proofs of Debt Due December 10
PSO TRADING: Creditors' Proofs of Debt Due December 9
PSO TRADING: Creditors' Proofs of Debt Due December 9
PSO TRADING: Creditors' Proofs of Debt Due December 9

REVEILLE CAPITAL: Shareholders' Final Meeting Set for November 25
VIVID BLUE: Creditors' Proofs of Debt Due November 19
VTC DIRECTOR: Shareholders' Final Meeting Set for November 16
VONTOBEL TRUST: Shareholders' Final Meeting Set for November 16
ZAIS MATRIX: Creditors' Proofs of Debt Due November 29


M E X I C O

MEXICANA AIRLINE: PC Capital Is Best Hope for Resuscitation
MEXICANA AIRLINE: American Air Picks Up Former Flights
MEXICANA AIRLINES: Not Returning to Fresno


X X X X X X X X

* BOND PRICING: For the Week November 8 to November 12, 2010




                            - - - - -


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


E-TAO: Creditors' Proofs of Debt Due February 11
------------------------------------------------
Susana Mabel Costa, the court-appointed trustee for E-TAO SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until February 11, 2010.

Ms. Costa will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 19
in Buenos Aires, with the assistance of Clerk No. 37, 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.


MANASO SRL: Creditors' Proofs of Debt Due December 2
----------------------------------------------------
Hugo D'Ubaldo, the court-appointed trustee for Manaso SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until December 2, 2010.

Mr. D'Ubaldo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 10 in Buenos Aires, with the assistance of Clerk
No. 19, 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:

         Hugo D'Ubaldo
         Tucuman 1577
         Argentina


PELOSO SRL: Creditors' Proofs of Debt Due December 10
-----------------------------------------------------
Eduardo Hugo Caggiano, the court-appointed trustee for Peloso
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until December 10, 2010.

Mr. Caggiano will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 52, 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:

         Eduardo Hugo Caggiano
         San Martin 66
         Argentina


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


CLAREVILLE CAPITAL: Creditors' Proofs of Debt Due November 17
-------------------------------------------------------------
The creditors of Clareville Capital Shackleton Fund Limited are
required to file their proofs of debt by November 17, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on October 29, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         2 Church Street, Hamilton HM 11
         Bermuda


CLAREVILLE CAPITAL: Members' Final Meeting Set for December 8
-------------------------------------------------------------
The members of Clareville Capital Shackleton Fund Limited will
hold their final meeting on December 8, 2010, at 9:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company commenced wind-up proceedings on October 29, 2010.

The company's liquidator is:

         Robin J. Mayor
         Clarendon House
         2 Church Street, Hamilton HM 11
         Bermuda


GLOBAL CROSSING: Moody's Assigns 'Caa2' Rating to Senior Notes
--------------------------------------------------------------
Moody's Investors Service assigned a Caa2 rating to Global
Crossing Limited's new $150 million 8-year senior unsecured notes
due 2019.  Since the new notes effectively replace $144 million of
convertible notes due in early 2011, the transaction is neutral to
Global Crossing's credit profile.  Accordingly, the company's B3
corporate family and probability of default ratings were affirmed.
Further, since the new notes replace the loss absorption capacity
ranking behind the company's $750 million of senior secured notes
(currently provided by the convertible notes), the senior secured
notes' B2 ratings were also affirmed.  As well, since the
transaction allows the company's substantial cash position to be
maintained, the existing SGL-2 speculative grade liquidity rating
(indicating good liquidity arrangements) was also affirmed.

                        Ratings Rationale

Moody's rates another entity in the Global Crossing family, Global
Crossing (UK) Finance plc (GCUK; B3 Stable).  The transactions
have no ratings impact on GCUK.

Global Crossing's B3 ratings are influenced primarily by the
company's participation in a highly competitive telecommunications
arena, its relatively poor EBITDA margins, limited free cash
generating capacity, and significant debt load.

The combination implies relatively weak interest coverage and debt
repayment capacity.  The rating also accounts for the company's
unique network footprint and solid internet protocol (IP) product
offering together with the expectation that demand for IP-based
broadband capacity will continue to grow and cause the company's
cash flow stream to expand.  However, while Moody's expect the
cash flow stream to expand, Moody's also expect that various
growth initiatives -- organic and inorganic -- will likely limit
free cash generation and debt repayment capacity.  The rating also
anticipates that the company will continue to maintain good
liquidity via a large cash balance to assure its ability to
weather short term shocks and minimize refinance risk.  In this
regard, Moody's view the new senior unsecured notes issue as
maintaining the company's cash pool and resulting financial
flexibility.  While the cash may be used to ultimately initiate
the refinance of GCUK's debt at the Global Crossing level --
something Moody's would view as a positive action -- there is also
the potential of the cash being used to fund acquisitions or
returns to shareholders.  With the company having only a tentative
ability to be free cash flow positive, Moody's would view a return
of capital as adversely affecting Moody's ratings assessment.  And
since Global Crossing has limited experience making material
acquisitions and telecommunications acquisitions are notoriously
difficult to successfully integrate, Moody's would take a very
cautious perspective on material acquisition activity.

This summarizes Global Crossing's ratings and the rating actions:

Assignments:

Issuer: Global Crossing Limited

  -- Senior Unsecured Regular Bond/Debenture, Assigned Caa2 (LGD5,
     84%)

Other Rating/Outlook Actions:

  -- Corporarte Family Rating, Affirmed at B3

  -- Probability of Default Rating, Affirmed at B3

  -- Speculative Grade Liquidity Rating, Affirmed at SGL-2

  -- Senior Secured Regular Bond/Debenture, Affirmed at B2 with
     the loss given default assessment revised to (LGD3, 33%) from
     (LGD3, 35%)

  -- Outlook, Unchanged at Stable

Moody's most recent rating action for GCL was December 16, 2009,
when, among other things, the company's CFR and PDR were upgraded
to B3 from Caa1.

                          Rating Outlook

Upwards rating migration is likely to be most influenced by margin
expansion that, in turn, could fuel free cash flow, while
downwards ratings migration would most likely result from adverse
liquidity developments.  Since Moody's do not expect either of
these parameters to change significantly over the ratings horizon,
the ratings outlook is stable.

                What Could Change the Rating -- Up

Together with favorable macroeconomic conditions, stable or
positive developments at GCUK and GC Impsat, and with the support
of good liquidity arrangements, positive ratings pressure could
develop with margin expansion and continued cash flow self-
sustainability progress.  This would be reflected in FCF/TD
migrating towards 5% and (EBITDA-CapEx)/IntExp migrating towards
1.5x (in both cases, on a sustained basis measured with Moody's
standard adjustments).

               What Could Change the Rating -- Down

Conversely, should the company's progress falter, or should
liquidity be eroded or should potential support/value from
subsidiary operations deteriorate, the ratings could come under
downwards pressure.  Failure to demonstrate cash flow self-
sustainability with FCF/TD > 0% and (EBITDA-CapEx)/IntExp > 1.0x
would be quantitative evidence of this (in both cases, on a
sustained basis measured with Moody's standard adjustments).

Headquartered in Hamilton, Bermuda and with administrative offices
in Florham Park, New Jersey, Global Crossing Limited offers
Internet Protocol and legacy telecommunications services in most
major business centers in the world.


LEHIGH ENTERPRISES: Creditors' Proofs of Debt Due November 18
-------------------------------------------------------------
The creditors of Lehigh Enterprises Limited are required to file
their proofs of debt by November 18, 2010, to be included in the
company's dividend distribution.

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

Ernest Morrison of Cox Hallett Wilkinson is the company's
liquidator.


LEHIGH ENTERPRISES: Member to Receive Wind-Up Report on Dec. 3
--------------------------------------------------------------
The sole member of Lehigh Enterprises Limited will receive on
December 3, 2010, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

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

Ernest Morrison of Cox Hallett Wilkinson is the company's
liquidator.


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


ALLIANCE: Shareholders' Final Meeting Set for November 30
---------------------------------------------------------
The shareholders of Alliance Collateralized Holdings Ltd. will
hold their final meeting on November 30, 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:

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


ALPHA MEZZ: Shareholders' Final Meeting Set for November 30
-----------------------------------------------------------
The shareholders of Alpha Mezz CDO 2007-1, Ltd. will hold their
final meeting on November 30, 2010, at 10:40 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


AS FOUR: Creditors' Proofs of Debt Due December 8
-------------------------------------------------
The creditors of AS Four Holdings Inc. are required to file their
proofs of debt by December 8, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 18, 2010.

The company's liquidator is:

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


AS PORTSQUARE: Creditors' Proofs of Debt Due December 8
-------------------------------------------------------
The creditors of AS Portsquare Holdings Inc. are required to file
their proofs of debt by December 8, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on October 18, 2010.

The company's liquidator is:

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


BANK VONTOBEL: Shareholders' Final Meeting Set for November 16
--------------------------------------------------------------
The shareholders of Bank Vontobel Cayman will hold their final
meeting on November 16, 2010, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

Russell Smith is the company's liquidator.


BENSON ELLIOT: Members' Final Meeting Set for November 23
---------------------------------------------------------
The members of Benson Elliot Real Estate Finance II Ltd will hold
their final meeting on November 23, 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


BUKHATIR INVESTMENTS: Creditors' Proofs of Debt Due December 8
--------------------------------------------------------------
The creditors of Bukhatir Investments Sukuk Company Limited are
required to file their proofs of debt by December 8, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on October 18, 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


CORAL BAY: Members' Final Meeting Set for November 26
-----------------------------------------------------
The members of Coral Bay Leasing & Finance Limited will hold their
final meeting on November 26, 2010, at 12:00 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Bernard McGrath
         69 Dr. Roy's Drive
         PO Box 1043, George Town
         Grand Cayman KY1-1102
         Cayman Islands


DELFINO 15: Creditors' Proofs of Debt Due November 19
-----------------------------------------------------
The creditors of Delfino 15 International Ltd. are required to
file their proofs of debt by November 19, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on October 19, 2010.

The company's liquidator is:

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


GREAT OAKS: Shareholder to Hear Wind-Up Report on November 16
-------------------------------------------------------------
The sole shareholder of Great Oaks Indemnity, Ltd. will hear on
November 16, 2010, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Steve C. Taylor
         c/o Global Captive Management Ltd.
         Governor's Square
         Building 3, 2nd Floor
         23 Lime Tree Bay Avenue
         PO Box 1363 Grand Cayman KY1-1108
         Cayman Islands
         Telephone: (345) 949 7966


HALMORE OVERSEAS: Commences Liquidation Proceedings
---------------------------------------------------
On October 18, 2010, the sole shareholder of Halmore Overseas
Holding Ltd. resolved to voluntarily liquidate the company's
business.

The company's liquidator is:

         Andreas Gilgen
         c/o Stephen R. Nelson
         Telephone: 949-4544
         Facsimile: 949-8460
         Charles Adams Ritchie & Duckworth
         Zephyr House, 122 Mary Street
         PO Box 709, Grand Cayman KY1-1107
         Cayman Islands


JADE GLOBAL: Creditors' Proofs of Debt Due December 10
------------------------------------------------------
The creditors of Jade Global Investments Limited are required to
file their proofs of debt by December 10, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on October 11, 2010.

The company's liquidator is:

         Antony Christopher Hind
         c/o Monika Mielczarek
         Telephone: +44 (0) 1534 672543
         Facsimile: +44 (0) 1534 672425
         1 Grenville Street, St Helier
         Jersey, JE2 3QP
         Channel Islands


PSO TRADING: Creditors' Proofs of Debt Due December 9
-----------------------------------------------------
The creditors of PSO Trading I, Ltd. are required to file their
proofs of debt by December 9, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on October 7, 2010.

The company's liquidators are:

         Abraham Pfeiffer
         Daniel Priestley
         Telephone: (345) 946 1577
         Facsimile: (345) 947 0826
         c/o PA Corporate Services Limited
         PO Box 30310, Grand Cayman KY1-1102
         Cayman Islands


PSO TRADING: Creditors' Proofs of Debt Due December 9
-----------------------------------------------------
The creditors of PSO Trading II, Ltd. are required to file their
proofs of debt by December 9, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on October 7, 2010.

The company's liquidators are:

         Abraham Pfeiffer
         Daniel Priestley
         Telephone: (345) 946 1577
         Facsimile: (345) 947 0826
         c/o PA Corporate Services Limited
         PO Box 30310, Grand Cayman KY1-1102
         Cayman Islands


PSO TRADING: Creditors' Proofs of Debt Due December 9
-----------------------------------------------------
The creditors of PSO Trading III, Ltd. are required to file their
proofs of debt by December 9, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on October 7, 2010.

The company's liquidators are:

         Abraham Pfeiffer
         Daniel Priestley
         Telephone: (345) 946 1577
         Facsimile: (345) 947 0826
         c/o PA Corporate Services Limited
         PO Box 30310, Grand Cayman KY1-1102
         Cayman Islands


REVEILLE CAPITAL: Shareholders' Final Meeting Set for November 25
-----------------------------------------------------------------
The shareholders of Reveille Capital Fund, Ltd. will hold their
final meeting on November 25, 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
         PO Box 1350, Grand Cayman KY1-1108
         Cayman Islands


VIVID BLUE: Creditors' Proofs of Debt Due November 19
-----------------------------------------------------
The creditors of Vivid Blue Ltd. are required to file their proofs
of debt by November 19, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on October 19, 2010.

The company's liquidator is:

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


VTC DIRECTOR: Shareholders' Final Meeting Set for November 16
-------------------------------------------------------------
The shareholders of VTC Director Services will hold their final
meeting on November 16, 2010, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

Russell Smith is the company's liquidator.


VONTOBEL TRUST: Shareholders' Final Meeting Set for November 16
---------------------------------------------------------------
The shareholders of Vontobel Trust Company Cayman will hold their
final meeting on November 16, 2010, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

Russell Smith is the company's liquidator.


ZAIS MATRIX: Creditors' Proofs of Debt Due November 29
------------------------------------------------------
The creditors of Zais Matrix VI-D Ltd. are required to file their
proofs of debt by November 29, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on October 15, 2010.

The company's liquidator is:

         Ogier
         c/o Danielle Walker
         Telephone: (345) 815-1880
         Facsimile: (345) 949-9877
         c/o Ogier 89 Nexus Way
         Camana Bay Grand Cayman KY1-9007
         Cayman Islands


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


MEXICANA AIRLINE: PC Capital Is Best Hope for Resuscitation
-----------------------------------------------------------
PC Capital is the best bet to refloat Compania Mexicana de
Aviacion or Mexicana Airlines, once a top national air carrier and
now in bankruptcy protection, Agence France Presse reports, citing
the airline.

"The restructuring deal that gives the greatest viability,
stability and sustainability in the long, medium and short terms
is PC Capital's," the report quoted Mexicana Administrator Javier
Christlieb and government mediator Gerardo Badin in a statement.

PC Capital, an investment firm, did not immediately respond to
AFP's request for details on the deal.

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

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

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

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

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings
Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINE: American Air Picks Up Former Flights
------------------------------------------------------
The Log reports that American Airlines has taken over most of the
flights that Compania Mexicana de Aviacion or Mexicana Airlines
dropped last month.

According to the report, American flies out of Los Angeles
International Airport -- and eight other West Coast cities, plus
four airports in Arizona.

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

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

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

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

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings
Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


MEXICANA AIRLINES: Not Returning to Fresno
------------------------------------------
KFSN reports that Compania Mexicana de Aviacion or Mexicana
Airlines will not be coming back to Fresno after all.

According to the report, Fresno Yosemite International Airport
officials confirmed that the bankrupt carrier does not intend to
make Fresno one of its stops.

Mexicana Airline, the report notes, earlier this week said that
it's working on a financial plan that would reinstate 30 flights.
The report relates that's about a quarter of its prior fleet.

Even though Mexicana won't be returning, airport officials are
still actively working on bringing in other Mexican carriers, the
report adds.

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

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

Compania Mexicana de Aviacion or Mexicana Airlines, Mexico's
largest airline, filed for bankruptcy in the U.S. and Mexico on
August 2, 2010.  In the U.S., the company filed in the U.S.
Bankruptcy Court in Manhattan for Chapter 15 bankruptcy protection
(case no. 10-14182), and in Mexico, it filed for the equivalent of
Chapter 11.

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

Mexicana de Aviacion stated that despite its bankruptcy filing, it
expects to continue to operate normally, and that such filings
Bankruptcy Creditors' Service, Inc., publishes Mexicana Airlines
Bankruptcy News.  The newsletter tracks the chapter 11 proceedings
and the ancillary proceedings undertaken by Compania Mexicana de
Aviacion and its units.  (http://bankrupt.com/newsstand/or
215/945-7000).


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


* BOND PRICING: For the Week November 8 to November 12, 2010
------------------------------------------------------------

Issuer              Coupon   Maturity   Currency          Price
------              ------   --------   --------          -----


ARGENTINA
---------
ARGENT- DIS           5.83   12/31/2033  ARS            44.75
ARGENT-PAR            1.18   12/31/2038  ARS             92.5
ARGENT-?DIS           4.33   12/31/2033  JPY               42
ARGENT-?PAR&GDP       0.45   12/31/2038  JPY                8
BOGAR 2018               2     2/4/2018  ARS             38.5
PRO12                    2     1/3/2016  ARS              128

CAYMAN ISLAND
-------------
BANCO BPI (CI)        4.15   11/14/2035  EUR           64.438
BANIF FIN LTD            3   12/31/2019  EUR           62.625
BCP FINANCE CO       4.239               EUR         70.03409
BCP FINANCE CO       5.543               EUR             73.9
BES FINANCE LTD       5.58               EUR         70.97254
BES FINANCE LTD      6.984     2/7/2035  EUR         63.42565
DUBAI HLDNG COMM         6     2/1/2017  GBP         72.76823
EFG ORA FUNDING        1.7   10/29/2014  EUR         69.19499
ESFG INTERNATION     5.753               EUR         72.95357
PUBMASTER FIN        6.962    6/30/2028  GBP          66.3868
SHINSEI FIN CAYM     6.418               USD         70.96576
SHINSEI FINANCE       7.16               USD               69


CHILE
-----
AGUAS NUEVAS           3.4    5/15/2012  CLP           1.6304
ESVAL S.A.             3.8    7/15/2012  CLP         49.87821
MASISA                4.25   10/15/2012  CLP         38.11955


PUERTO RICO
-----------
PUERTO RICO CONS       6.5     4/1/2016  USD           42.625


VENEZUELA
---------
PETROLEOS DE VEN       4.9   10/28/2014  USD         64.07045
PETROLEOS DE VEN         5   10/28/2015  USD         59.16499
PETROLEOS DE VEN     5.125   10/28/2016  USD         56.62819
PETROLEOS DE VEN      5.25    4/12/2017  USD         58.64957
PETROLEOS DE VEN     5.375    4/12/2027  USD         48.34653
PETROLEOS DE VEN       5.5    4/12/2037  USD         46.57195
PETROLEOS DE VEN       8.5    11/2/2017  USD         70.08081
VENEZUELA             5.75    2/26/2016  USD            70.25
VENEZUELA                6    12/9/2020  USD             59.5
VENEZUELA                7    12/1/2018  USD               67
VENEZUELA                7    3/31/2038  USD             56.5
VENEZUELA                7    3/31/2038  USD            55.85
VENEZUELA             7.65    4/21/2025  USD            60.25
VENEZUELA             7.75   10/13/2019  USD               67
VENEZUELA             8.25   10/13/2024  USD             64.5
VENEZUELA                9     5/7/2023  USD            68.25
VENEZUELA             9.25    9/15/2027  USD           72.875
VENEZUELA             9.25     5/7/2028  USD            67.25
VENEZUELA             9.25    9/15/2027  USD            72.85
VENZOD - 189000      9.375    1/13/2034  USD            67.25


                            ***********

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.



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