TCRLA_Public/101125.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 25, 2010, Vol. 11, No. 233

                            Headlines


A R G E N T I N A

CENTRAL DE NEGOCIOS: Creditors' Proofs of Debt Due December 28
ENERGIA RECARGABLE: Creditors' Proofs of Debt Due December 16
MEDICAL IMAGE: Asks for Preventive Contest
NVS SA: Creditors' Proofs of Debt Due December 27
PEDRO WORNS: Creditors' Proofs of Debt Due March 1


B E R M U D A

GREENWICH SENTRY: Files for Bankruptcy Protection in U.S.
GREENWICH SENTRY: Voluntary Chapter 11 Case Summary


C A Y M A N  I S L A N D S

336251 Limited: Shareholders' Final Meeting Set for December 8
ABBA PARTNERS: Shareholder to Hear Wind-Up Report on November 30
ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Dec. 15
ANTHRACITE REFERENCE: Shareholders' Final Meeting Set for Dec. 15
CHINA RETAIL: Shareholders' Final Meeting Set for November 30

COSAK LIMITED: Shareholders' Final Meeting Set for December 8
DYNASTY ASSETS: Shareholders' Final Meeting Set for December 10
GLOBAL FINANCIALS: Shareholders' Final Meeting Set for December 10
GLOBAL MULTI: Shareholders' Final Meeting Set for December 15
GYRFALCON OFFSHORE: Shareholders' Final Meeting Set for December 8

ISLAND BROOK: Shareholders' Final Meeting Set for December 13
K SQUARED: Shareholders' Final Meeting Set for December 10
MELODY IAM: Shareholders' Final Meeting Set for December 6
OMNIFIC MULTI-MANAGER: Member to Hear Wind-Up Report on Nov. 30
PAMAJO LIMITED: Members' Final Meeting Set for December 1

RASMALA GLOBAL: Shareholders' Final Meeting Set for December 6
RASMALA GLOBAL: Shareholders' Final Meeting Set for December 6
ROCKBAY CAPITAL: Shareholders' Final Meeting Set for December 10
TAIB EXPLORER: Shareholder to Hear Wind-Up Report on December 9
WINDERMERE MORTGAGE: Shareholders' Final Meeting Set for Dec. 10


E C U A D O R

* ECUADOR: IDB Approves US$64.7-Million Loan


N I C A R A G U A

* NICARAGUA: To Receive US$42.5-Million IDB Loan


M E X I C O

VITRO SAB: Extends Tender Offer Until December 7


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                            - - - - -


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


CENTRAL DE NEGOCIOS: Creditors' Proofs of Debt Due December 28
--------------------------------------------------------------
Alfredo Alberto Figliomeni, the court-appointed trustee for
Central de Negocios SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until December 28, 2010.

Mr. Figliomeni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 11 in Buenos Aires, with the assistance of Clerk
No. 22, 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:

         Alfredo Alberto Figliomeni
         Agrelo 4220
         Argentina


ENERGIA RECARGABLE: Creditors' Proofs of Debt Due December 16
-------------------------------------------------------------
Jorge Dagavarian, the court-appointed trustee for Energia
Recargable SRL's bankruptcy proceeding, will be verifying
creditors' proofs of claim until December 16, 2010.

Mr. Dagavarian will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk
No. 10, 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 Dagavarian
         Madero 749
         Argentina


MEDICAL IMAGE: Asks for Preventive Contest
------------------------------------------
Medical Image Diagostico por Imagenes SA asked for preventive
contest.


NVS SA: Creditors' Proofs of Debt Due December 27
-------------------------------------------------
Roberto Jose Gaztelu, the court-appointed trustee for NVS SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until December 27, 2010.

Mr. Gaztelu will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 13 in Buenos Aires, with the assistance of Clerk
No. 25, 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:

         Roberto Jose Gaztelu
         Viamonte 1592
         Argentina


PEDRO WORNS: Creditors' Proofs of Debt Due March 1
--------------------------------------------------
Aldo Bassagaisteguy, the court-appointed trustee for Pedro Worns y
Cia SRL's reorganization proceedings, will be verifying creditors'
proofs of claim until March 1, 2011.

Mr. Bassagaisteguy will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 1, 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:

         Aldo Bassagaisteguy
         Avenida Santa Fe 2847
         Argentina


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


GREENWICH SENTRY: Files for Bankruptcy Protection in U.S.
---------------------------------------------------------
Greenwich Sentry, L.P., and an affiliate filed for Chapter 11
protection on November 19, 2010 (Bankr. S.D.N.Y. Case No.
10-16229) hoping to settle lawsuits filed against it in connection
with its investments with Bernard L. Madoff.  An affiliate,
Fairfield Sentry Limited, filed for Chapter 11 protection in June
2010 (Bankr. S.D.N.Y. Case No. 10-13164).

Mark McKeefry, general counsel and assistant secretary of
Fairfield Greenwich (Bermuda), Ltd., a general partner of the
Debtors, said in a court filing, "The principal purpose of these
Chapter 11 cases is to preserve the remaining assets of the
Debtors' estates for the benefit of their creditors and other
parties in interest, rather than dissipating those assets in the
defense of the various litigations . . . or which may be commenced
in the future.  The Debtors intend to seek a comprehensive
settlement of all litigation that may ultimately impact the
Debtors and their estates."

Mr. McKeefry added, "The Debtors anticipate that if such
settlements are reached, they would be accomplished through a
joint plan of reorganization that would provide the maximum
protections available under applicable law to the non-debtors that
ultimately agree to make substantial contributions to funding the
costs of those settlements.  Only by stanching the substantial and
debilitating costs of litigation that are being incurred not only
by the Debtors, but also by their affiliates and associated
personnel, can maximum value be delivered to the parties holding
valid claims.  It is, therefore, expected that the protections
afforded by Chapter 11 will allow the Debtors to maximize the
value available not only from the Debtors, but also from their
affiliates and associated personnel, for the benefit of all
stakeholders."

Irving H. Picard, the trustee for the Madoff estate, has filed a
lawsuit seeking to recover US$206 million that the Debtors have
received from phony profits in Mr. Madoff's Ponzi scheme.  In
addition, the Debtors are parties in several civil actions,
pending in various courts and in different states of litigation,
arising out of their accounts at BLMIS.

Greenwich Sentry itself has filed a customer claim against
Mr. Picard for approximately US$314 million basing from the last
account statements it received from Bernard L. Madoff Investment
Securities LLC.

Greenwich and its affiliates operate as private investment
partnerships.

Greenwich Sentry wants the bankruptcy court to enforce a stay of
the civil suits.


GREENWICH SENTRY: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Greenwich Sentry, L.P.
        575 Madison Avenue, 8th Floor
        New York, NY 10022

Bankruptcy Case No.: 10-16229

Chapter 11 Petition Date: November 19, 2010

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Paul R. DeFilippo, Esq.
                  WOLLMUTH MAHER & DEUTSCH LLP
                  500 Fifth Avenue, 12th Floor
                  New York, NY 10110
                  Tel: (212) 382-3300
                  Fax: (212) 382-0050
                  E-mail: pdefilippo@wmd-law.com

Estimated Assets: US$100,000,001 to US$500,000,000

Estimated Debts: US$100,000,001 to US$500,000,000

The petition was signed by Jeffrey Tucker, director of Fairfield
Greenwich (Bermuda), Ltd., general partner.

The Debtor did not file its list of largest unsecured creditors
when it filed its petition.

Debtor-affiliates that filed separate Chapter 11 petitions:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
Fairfield Sentry Limited               10-13164   06/14/10
Greenwich Sentry Partners, L.P.        10-16230   11/19/10
  Assets: US$1,000,001 to US$10,000,000
  Debts: US$1,000,001 to US$10,000,000


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


336251 Limited: Shareholders' Final Meeting Set for December 8
--------------------------------------------------------------
The shareholders of 336251 Limited will hold their final meeting
on December 8, 2010, to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Royhaven Secretaries Limited
         Julie Reynolds
         Telephone: 945-4777
         Facsimile: 945-4799
         c/o PO Box 707, Grand Cayman KY1-1107
         Telephone: 945-4777
         Facsimile: 945-4799


ABBA PARTNERS: Shareholder to Hear Wind-Up Report on November 30
----------------------------------------------------------------
The shareholder of Abba Partners will receive on November 30,
2010, at 11:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         K. D. Blake
         c/o David Thacker
         Telephone: +1 345-815-2631/ + 1 345-949-4800
         Facsimile: +1 345-949-7164/ +1 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands


ANTHRACITE BALANCED: Shareholders' Final Meeting Set for Dec. 15
----------------------------------------------------------------
The shareholders of Anthracite Balanced Company (IR-17) Limited
will hold their final meeting on December 15, 2010, at 11:00 a.m.,
to receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


ANTHRACITE REFERENCE: Shareholders' Final Meeting Set for Dec. 15
-----------------------------------------------------------------
The shareholders of Anthracite Reference Company (23) Limited will
hold their final meeting on December 15, 2010, at 10:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


CHINA RETAIL: Shareholders' Final Meeting Set for November 30
-------------------------------------------------------------
The shareholders of China Retail Management LDC will hold their
final meeting on November 30, 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 liquidators are:

         Lai Kar Yan (Derek)
         Darach E. Haughey
         Deloitte Touche Tohmatsu
         One Pacific Place, 35th Floor
         88 Queensway
         Hong Kong
         Telephone: + (852) 2852 1659
         Facsimile: + (852) 2850 8362


COSAK LIMITED: Shareholders' Final Meeting Set for December 8
-------------------------------------------------------------
The shareholders of Cosak Limited will hold their final meeting on
December 8, 2010, to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Royhaven Secretaries Limited
         Julie Reynolds
         Telephone: 945-4777
         Facsimile: 945-4799
         c/o PO Box 707, Grand Cayman KY1-1107
         Telephone: 945-4777
         Facsimile: 945-4799


DYNASTY ASSETS: Shareholders' Final Meeting Set for December 10
---------------------------------------------------------------
The shareholders of Dynasty Assets (Holdings) Limited will hold
their final meeting on December 10, 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:

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


GLOBAL FINANCIALS: Shareholders' Final Meeting Set for December 10
------------------------------------------------------------------
The shareholders of Global Financials (General Partner) Inc. will
hold their final meeting on December 10, 2010, at 11:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


GLOBAL MULTI: Shareholders' Final Meeting Set for December 15
-------------------------------------------------------------
The shareholders of Global Multi Strategy Fund Limited will hold
their final meeting on December 15, 2010, at 9:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


GYRFALCON OFFSHORE: Shareholders' Final Meeting Set for December 8
------------------------------------------------------------------
The shareholders of Gyrfalcon Offshore Fund Ltd will hold their
final meeting on December 8, 2010, at 4:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         DMS Corporate Services Ltd
         c/o Bernadette Bailey-Lewis
         Telephone: (345) 946 7665
         Facsimile: (345) 946 7666
         dms Corporate Services Ltd.
         dms House, 2nd Floor P.O. Box 1344
         Grand Cayman KY1-1108
         Cayman Islands


ISLAND BROOK: Shareholders' Final Meeting Set for December 13
-------------------------------------------------------------
The shareholders of Island Brook Offshore Fund, Ltd. will hold
their final meeting on December 13, 2010, at 9:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Richard Finlay
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


K SQUARED: Shareholders' Final Meeting Set for December 10
----------------------------------------------------------
The shareholders of K Squared Capital (Offshore), Ltd. will hold
their final meeting on December 10, 2010, at 11:15 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


MELODY IAM: Shareholders' Final Meeting Set for December 6
----------------------------------------------------------
The shareholders of Melody Iam Limited will hold their final
meeting on December 6, 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:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111, Grand Cayman KY1-1102
         Cayman Islands


OMNIFIC MULTI-MANAGER: Member to Hear Wind-Up Report on Nov. 30
---------------------------------------------------------------
The shareholder of Omnific Multi-Manager Fund SPC will receive on
November 30, 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:

         K. D. Blake
         c/o David Thacker
         Telephone: +1 345-815-2631/ + 1 345-949-4800
         Facsimile: +1 345-949-7164/ +1 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands


PAMAJO LIMITED: Members' Final Meeting Set for December 1
---------------------------------------------------------
The members of Pamajo Limited will hold their final meeting on
December 1, 2010, to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487, Grand Cayman KY1-1106
         Cayman Islands


RASMALA GLOBAL: Shareholders' Final Meeting Set for December 6
--------------------------------------------------------------
The shareholders of Rasmala Global Real Estate Opportunity Fund
Ltd. will hold their final meeting on December 6, 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


RASMALA GLOBAL: Shareholders' Final Meeting Set for December 6
--------------------------------------------------------------
The shareholders of Rasmala Global Real Estate Opportunity Ltd.
will hold their final meeting on December 6, 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


ROCKBAY CAPITAL: Shareholders' Final Meeting Set for December 10
----------------------------------------------------------------
The shareholders of Rockbay Capital Commitment Offshore Fund, Ltd.
will hold their final meeting on December 10, 2010, at 11:45 a.m.,
to receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


TAIB EXPLORER: Shareholder to Hear Wind-Up Report on December 9
---------------------------------------------------------------
The shareholder of Taib Explorer Fund, Ltd. will receive on
December 9, 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:

         Reid Services Limited
         Clifton House, 75 Fort Street
         PO Box 1350 Grand Cayman KY1-1108
         Cayman Islands


WINDERMERE MORTGAGE: Shareholders' Final Meeting Set for Dec. 10
----------------------------------------------------------------
The shareholders of Windermere Mortgage Offshore Ltd. will hold
their final meeting on December 10, 2010, at 12:15 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


=============
E C U A D O R
=============


* ECUADOR: IDB Approves US$64.7-Million Loan
--------------------------------------------
Ecuador will improve its ability to efficiently transmit
electricity to meet rising demand with a US$64.7 million loan
approved by the Inter-American Development Bank.

The Government of Ecuador is developing several hydroelectric
projects that will come online between now and 2014, as part of
its overall strategy to meet anticipated growth in energy demand.

This new generation capacity will be added to an electricity
transmission system that is already overloaded and in need of
upgrades.

The IDB loan will enable Ecuador to increase the overall capacity
of its electricity transmission system by building and expanding
electrical substations and transmission lines and acquiring the
necessary transformers and related equipment.

These investments will satisfy 20% of Ecuador's expected
transmission needs over the next four years, while also helping to
modernize the management of transmission services.  As a result,
Ecuador will triple its transmission reserve capacity, satisfying
an incremental demand of 60.105 MWh a month, equivalent to the
amount needed to supply electricity to 500,000 average households.
By improving the overall reliability and quality of the electric
power supply, the project will also have a positive impact on
investments and economic activity.

The IDB loan is for 25 years, with a four-year grace period and an
interest rate based on LIBOR.

                           *     *     *

As of November 24, 2010, the country continues to carry Moody's
"Caa2" country ceiling long-term foreign bank deposit and current
deposit rating.


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


* NICARAGUA: To Receive US$42.5-Million IDB Loan
------------------------------------------------
Nicaragua will strengthen its fiscal management, improve tax
collection and increase the quality, transparency and efficiency
of spending on poverty with the third and final loan totaling
US$42.5 million approved by the Inter-American Development Bank to
support policy reforms.

Nicaragua's government expects this project will contribute to
improve the macroeconomic environment, accelerate economic growth
and reduce poverty rates.  With this third loan, the IDB has
provided a total of US$103 million since December 2008 on budget
support Nicaragua's tax system reform.

This project will finance several activities including the
maintenance of a stable macroeconomic framework for renewed
growth, with single-digit inflation and reduced fiscal deficit.
The project will help improve tax and customs administration by
modernizing legislation; implementing control tools and processes,
improving collection and lowering transaction costs.

The efficiency of government spending will improve with the
expansion of the Medium-Term Expenditure Framework and the
implementation of a national system to improve the quality of
public investment.  The project will also implement an electronic
system for government procurement, which will boost transparency
in the management of government resources as well as improve the
coverage of the country's national audit and administrative
contracting systems.

Finally, the program is expected to improve the coverage, quality
and targeting of poverty reduction expenditures in order to ensure
they reach the poorest and most vulnerable population groups.

The program will enable Nicaragua to improve the quality of
spending on poverty reduction and increase poverty alleviation
spending from 12.3% of gross domestic product in 2007 to 13
percent in 2011.

In addition, the project will enable the Internal Revenue Service
to increase the number of new taxpayers registered in the single
taxpayer system by 30%.  Also, the Customs Administration expects
to speed up the clearance process by 35%, after the implementation
of risk management module in 12 customs administrations in the
country.

The IDB financing includes a loan of US$21.25 million with a 30-
year maturity, a grace period of 5.5 years at a fixed interest
rate.  The remaining US$21.25 million will be comprised of another
loan from the Fund for Special Operations, with a term and grace
period of 40 years and an annual interest rate of 0.25%.

                        *     *     *

As of November 24, 2010, the company continues to carry Moody's
"Caa1" country ceiling long-term foreign bank deposit rating.  The
country also continues to carry Moody's "B2" country ceiling long-
term foreign currency debt rating.


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


VITRO SAB: Extends Tender Offer Until December 7
------------------------------------------------
Vitro S.A.B. de C.V. disclosed an extension of the expiration time
for its tender offer and exchange offer and consent solicitation
and responded to misleading statements made by dissident minority
bondholder group.

Vitro extends the expiration time at the request of holders
wishing to participate in the solicitation transactions.

On November 22, 2010, Vitro issued a supplement to its tender
offer and exchange offer and consent solicitation statement dated
November 1, 2010.  This supplement includes certain technical
changes to the procedures described in the offer documents to
facilitate participation in the solicitation transactions and
provides certain updating disclosure.

As described in further detail in the supplement, Vitro is
extending the expiration time at the request of market
participants, in spite of having the required majority to
implement the Concurso Plan, to facilitate participation in the
solicitation transactions.  Vitro has been receiving numerous
procedural questions regarding the solicitation transactions and
has been working, and will continue to work, diligently to answer
any questions of bondholders to ensure their participation in such
transactions.

Both offers were previously scheduled to expire at 9:00 a.m., New
York City time, on December 1, 2010. Vitro is extending the
expiration time for both offers to 5:00 p.m., New York City time,
on December 7, 2010. Following the expiration time, Vitro plans to
initiate promptly the previously announced pre-packed insolvency
process in Mexico.

Both offers apply to all three series of Vitro's outstanding
senior notes, which are described in the following table:


Series of Senior Notes       CUSIP No.            Outstanding
                                                  Principal
                                                  Amount
8.625% Senior Notes due 2012 92851RAC1; P98100AA1 US$300,000,000
11.75% Senior Notes due 2013 92851FAD5; P98022AB5 US$216,000,000
9.125% Senior Notes due 2017 92851RAD9; P98100AB9 US$700,000,000

Vitro is also changing the definition of the term "Record Date" in
the offer documentation to 5:00 p.m., New York City time, on
November 30, 2010.  This change was also requested by holders who
purchased senior notes after November 1, 2010 and who wish to
participate in the solicitation transactions.

Vitro responds to misleading statements of minority dissident
bondholders clearly aimed at disrupting Vitro's restructuring
process

On November 17, 2010, a minority group of four bondholders
representing approximately US$75 million, or approximately 6% of
the outstanding bond debt to be restructured, commenced
involuntary cases under Chapter 11 of the U.S. Bankruptcy Code in
the Northern District of Texas against Vitro's U.S. subsidiaries
which are guarantors of the bond debt.

The bankruptcy petition was signed only by these four bondholders.
No other bondholders have stepped forward to initiate litigation
against Vitro notwithstanding the unsubstantiated statements made
by the advisors to these dissident bondholders in an effort to
influence creditor participation and manipulate the market in
Vitro's securities.  In view of these and other irregularities,
Vitro has engaged the law firm of Susman Godfrey, L.L.P. as
special litigation US Counsel, in order to analyze the potential
rights that Vitro may exercise in the United States against this
ad hoc group of dissident bondholders and its advisors.

The allegations regarding the transactions and the disclosure
provided in Vitro's offer documents are baseless

Vitro's exchange offer and consent solicitation, including the
restructuring plan pursuant to the Mexican insolvency law, has
been structured, prepared and negotiated, at arms length, with the
advice and approval of some of the leading insolvency law
practitioners in Mexico.  Accordingly, Vitro is confident that any
challenges that may be brought against its restructuring plan
based on these minority bondholders' baseless allegations will not
succeed.

Bondholders who consent pursuant to the offer documents will not
in fact be subject to adverse consequences that have not been
disclosed by Vitro.  The ad hoc bondholder group has clearly not
carefully reviewed the disclosure as thoroughly as they claim.  In
the event that Vitro waives the conditions of the exchange offer
and consent solicitation or otherwise amends the exchange offer
and consent solicitation in a manner that is materially adverse to
holders of the debt subject to restructuring, noteholders will be
informed and allowed to withdraw their consent, as described in
greater detail in the offer documents.

Actions by dissident holders will not change proposal; Vitro
expects success

As described in the offer documentation, Vitro engaged in active,
good faith negotiations with a group of institutional bondholders
for over a year and a half (including paying more than US$4.3
million in fees and expenses of such group's legal and financial
advisors).  After more than year of negotiations with this group
of bondholders, the Company in October of this year presented its
final restructuring proposal to the group indicating that if it
was not accepted by the group it would go to the market without
the support of the group.  At the time, the differences between
Vitro's offer and the Bondholder's ad hoc Committee request was
only marginal.

The restructuring proposal reflected in the offer documentation
represents Vitro's final restructuring proposal.  Vitro will not
engage in any further negotiations with the dissent, minority
bondholder group who have initiated legal actions against Vitro's
U.S. subsidiaries, or to otherwise improve the terms of its
proposed restructuring reflected in the offer documentation.  As
described in the offer documentation, Vitro fully intends to file
its Concurso Plan for approval in Mexico shortly after the
expiration of the solicitation transactions.

The public statements made by the dissent bondholder group
alleging that bondholders who choose to participate in Vitro's
outstanding restructuring offer will be worse off than those who
do not participate are blatantly misleading and false and contrary
to the express terms of the restructuring offer described in the
offer documentation.  As described in the offer documentation,
bondholders who do not participate in the Company's restructuring
offer and consent to the Concurso Plan on or prior to the
expiration date of the offer will give up a substantial upfront
cash consent fee, currently offered to all creditors, of no less
than 5% and no more than 10% of the principal amount of bonds they
hold (which will be payable shortly after the expiration of the
restructuring offer and regardless of whether the Concurso Plan is
ultimately approved or not).

Bondholders who do not participate in the restructuring offer will
nonetheless receive the same pro rata portion of the Restructuring
Consideration described in the offer documentation upon approval
of the Company Concurso Plan, but they will not receive the
upfront cash consent fee previously described.

The dissident minority's group's public (and misguided)
allegations of legal impropriety relating to certain transactions
entered into by the Company with respect to the settlement of
certain financial derivative claims, certain intercompany claims
and the consent fee described in the solicitation statement (and
referenced above) amount to nothing but baseless allegations.  All
of the Company's transactions relating to the settlement of
certain financial derivative claims and the intercompany claims
that will be participating in the Company's Concurso Plan were
reviewed and approved by some of the leading corporate and
insolvency law practitioners in Mexico and implemented in
accordance with applicable Mexican law.  Accordingly, the Company
is fully confident that the spurious challenges that may be
brought in respect of these transactions will be discredited and
set aside by the relevant Mexican court.

Despite the desperate attempts by dissident holders to disrupt the
process, Vitro continues to expect that both offers will be
concluded successfully.  "Due to a clear reflection of a divided
ad doc Bondholder Committee, Vitro strongly encourages its
bondholders to objectively analyze the terms and conditions of the
tender offer, and the exchange offer and consent solicitation,"
stated Mr. Claudio Del Valle, Chief Restructuring Officer of
Vitro, "and we also urge each of them to respond to the tender
offer and the exchange offer and consent solicitation promptly."

Further information related to tender offer and exchange offer and
consent solicitation procedures

D.F. King & Co., Inc. will act as the depositary for the tender
offer and information and exchange agent for the exchange offer
and consent solicitation for holders of senior notes.  Questions
regarding the tender offer and exchange offer and consent
solicitation and requests for additional copies of the tender
offer and exchange offer and consent solicitation materials may be
directed to D.F. King & Co., Inc. at (800) 431-9633 (toll free) or
(212) 269-5550 (bankers and brokers).  Holders of restructured
debt other than the senior notes may contact Vitro at +52 (81)
8863-1731.

                         About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Knighthead Master Fund, L.P., Lord Abbett Bond-Debenture Fund,
Inc., Davidson Kempner Distressed Opportunities Fund LP, and
Brookville Horizons Fund, L.P., commenced involuntary bankruptcy
cases under Chapter 11 of the U.S. Bankruptcy Code against Vitro
Asset Corp. -- aka American Asset Holding Corp., Imperial Arts
Corp., VK Corp., and Oriental Glass, Inc. -- on November 17, 2010
(Bankr. N.D. Tex. Case No. 10-47470).

Affiliates Vitro Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex.
Case No. 10-47472); Vitro America, LLC (Bankr. N.D. Tex. Case No.
10-47473); Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-
47474); Super Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-
47475); Super Sky International, Inc. (Bankr. N.D. Tex. Case No.
10-47476); VVP Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477);
Amsilco Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478);
B.B.O. Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479);
Binswanger Glass Company (Bankr. N.D. Tex. Case No. 10-47480);
Crisa Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP
Finance Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto
Glass, Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings,
LLC (Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485) are also subject to
involuntary petitions by the petitioning credito


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


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



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