TCRLA_Public/101201.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

          Wednesday, December 1, 2010, Vol. 11, No. 237

                            Headlines



A R G E N T I N A

AEROPUERTOS ARGENTINA: S&P Assigns 'B' Corporate Credit Rating
FRIGOSUR SA: Creditors' Proofs of Debt Due February 16
INTERBAE SA: Creditors' Proofs of Debt Due February 18
ISIDRA HOUSE: Creditors' Proofs of Debt Due March 8
REPSTAY SRL: Creditors' Proofs of Debt Due February 1

SOUTHERN FOODS: Creditors' Proofs of Debt Due December 30


B E R M U D A

GANDAR INVESTMENT: Creditors' Proofs of Debt Due December 1
GANDAR INVESTMENT: Members' Final Meeting Set for December 21
LATOT JDZ: Creditors' Proofs of Debt Due December 1
LSF II: Creditors' Proofs of Debt Due December 1
LSF II: Members' Final Meeting Set for December 22

LSF IV: Creditors' Proofs of Debt Due December 1
LSF IV: Members' Final Meeting Set for December 21
MAN GLENWOOD: Creditors' Proofs of Debt Due December 1
MAN GLENWOOD: Members' Final Meeting Set for December 20
MAN LEUMI: Creditors' Proofs of Debt Due December 1

MAN LEUMI: Members' Final Meeting Set for December 22
TIMICUAN HOLDINGS: Creditors' Proofs of Debt Due December 1
TIMICUAN HOLDINGS: Members' Final Meeting Set for December 22
TIMICUAN REINSURANCE: Creditors' Proofs of Debt Due December 1
TIMICUAN REINSURANCE: Members' Final Meeting Set for December 22


C A Y M A N  I S L A N D S

ALLIANCEBERNSTEIN GLOBAL: Shareholders' Meeting Set for Dec. 13
BRENTWOOD INDEMNITY: Creditors' Proofs of Debt Due December 14
CASAM PLENUM: Shareholders' Final Meeting Set for December 10
CHESTER ASSET: Shareholders' Final Meeting Set for December 3
CHESTER ASSET: Shareholders' Final Meeting Set for December 3

CICADA LIMITED: Creditors' Proofs of Debt Due December 17
CICADA LIMITED: Shareholders' Final Meeting Set for December 20
CPC SCHWEPPES: Shareholders' Final Meeting Set for December 7
FRESH (I): Shareholders' Final Meeting Set for December 14
HELIODOR INVESTMENTS: Creditors' Proofs of Debt Due December 22

ICP STRATEGIC: Creditors' Proofs of Debt Due December 14
IIU FUNDS: Shareholders' Final Meeting Set for December 9
LAFITTE FUND: Shareholders' Final Meeting Set for December 10
MS ASIA: Creditors' Proofs of Debt Due December 13
MS ASIA: Creditors' Proofs of Debt Due December 13

NAI LS: Shareholders' Final Meeting Set for December 9
R.F. ALTS: Shareholders' Final Meeting Set for December 10
REFRESH (I): Shareholders' Final Meeting Set for December 14
RL CAPITAL: Shareholders' Final Meeting Set for December 10
TRICO MARINE: Inks Restructuring Support Deal With Noteholders

TRICO MARINE: Tidewater Raises Bid to US$30.5MM to Win Auction
TRICO MARINE: Committee Wants to Pursue Lawsuits
VICTORY PARK: Creditors' Proofs of Debt Due December 22
VICTORY PARK: Creditors' Proofs of Debt Due December 22


J A M A I C A

AIR JAMAICA: Robert Corbie Appointed as Caribbean Air CEO
KSAC: To Respond to Concerns on its Financial Woes
KSAC: Wants to Use Money From Land Sale to Pay Deductions


T R I N I D A D  &  T O B A G O

CL FINANCIAL: CLICO Holders Vote Unanimously to Take Legal Action




                            - - - - -


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


AEROPUERTOS ARGENTINA: S&P Assigns 'B' Corporate Credit Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to Argentine airport operator Aeropuertos
Argentina 2000 S.A.  The outlook is stable.

S&P also assigned a 'B' senior secured debt rating to the
company's proposed US$300 million 10-year notes.  S&P understand
that the new bonds will be guaranteed by collection rights and
receivables from duty free shops and unpledged international and
regional passenger fees.

"The rating on AA2000 is constrained, in S&P's view, mainly by its
exposure to Argentine country risk and the limited track record of
its regulatory framework," said Standard & Poor's credit analyst
Candela Macchi.  The airport operator is also exposed to
volatility that is inherent to passenger traffic and dependent on
various factors, such as the level of economic activity,
international events such as terrorist attacks, geopolitical
tensions and epidemics, and the relative evolution of exchange
rate.  AA2000 also faces the challenge of implementing an
investment plan agreed with the government, including construction
risk.

These factors are partially counterbalanced, in S&P's opinion, by
the company's very good competitive position, derived from its
exclusive concession to operate 33 airports in the country and a
manageable maturity profile over the next four years.

The stable outlook incorporates S&P's view that its debt maturity
profile will be manageable after the issuance of $300 million
senior secured notes.  S&P considers potential rating upside
unlikely at this point, and that it would depend on a perception
of an improvement in business conditions in Argentina and on the
satisfactory performance of the investment plan.  In S&P's view,
the rating could come under pressure if the company is unable to
comply with the mandatory investment plan or if changes in
regulation occur that affect the company's operations.


FRIGOSUR SA: Creditors' Proofs of Debt Due February 16
------------------------------------------------------
The court-appointed trustee for Frigosur S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
February 16, 2011.

The trustee will present the validated claims in court as
individual reports on March 31, 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 27, 2011.


INTERBAE SA: Creditors' Proofs of Debt Due February 18
------------------------------------------------------
The court-appointed trustee for Interbae S.A.'s reorganization
proceedings will be verifying creditors' proofs of claim until
February 18, 2011.

The trustee will present the validated claims in court as
individual reports on April 4, 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 16, 2011.

Creditors will vote to ratify the completed settlement plan
during the assembly on October 11, 2011.


ISIDRA HOUSE: Creditors' Proofs of Debt Due March 8
---------------------------------------------------
The court-appointed trustee for Isidra House S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
March 8, 2011.

The trustee will present the validated claims in court as
individual reports on April 19, 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
June 1, 2011.


REPSTAY SRL: Creditors' Proofs of Debt Due February 1
-----------------------------------------------------
The court-appointed trustee for Repstay S.R.L.'s reorganization
proceedings will be verifying creditors' proofs of claim until
February 1, 2011.


SOUTHERN FOODS: Creditors' Proofs of Debt Due December 30
---------------------------------------------------------
The court-appointed trustee for Southern Foods S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
December 30, 2010.

The trustee will present the validated claims in court as
individual reports on March 16, 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 3, 2011.


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


GANDAR INVESTMENT: Creditors' Proofs of Debt Due December 1
-----------------------------------------------------------
The creditors of Gandar Investment Ltd. are required to file their
proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 10, 2010.

The company's liquidator is:

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


GANDAR INVESTMENT: Members' Final Meeting Set for December 21
-------------------------------------------------------------
The members of Gandar Investment Ltd. will hold their final
meeting on December 21, 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 November 10, 2010.

The company's liquidator is:

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


LATOT JDZ: Creditors' Proofs of Debt Due December 1
---------------------------------------------------
The creditors of Latot JDZ Limited are required to file their
proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 17, 2010.

The company's liquidator is:

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


LSF II: Creditors' Proofs of Debt Due December 1
------------------------------------------------
The creditors of LSF II LB Limited are required to file their
proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 16, 2010.

The company's liquidator is:

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


LSF II: Members' Final Meeting Set for December 22
--------------------------------------------------
The members of LSF II LB Limited will hold their final meeting on
December 22, 2010, at 10:00 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 November 16, 2010.

The company's liquidator is:

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


LSF IV: Creditors' Proofs of Debt Due December 1
------------------------------------------------
The creditors of LSF IV TMK Derivatives I, Ltd. are required to
file their proofs of debt by December 1, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on November 16, 2010.

The company's liquidator is:

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


LSF IV: Members' Final Meeting Set for December 21
--------------------------------------------------
The members of LSF IV TMK Derivatives I, Ltd. will hold their
final meeting on December 21, 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 November 16, 2010.

The company's liquidator is:

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


MAN GLENWOOD: Creditors' Proofs of Debt Due December 1
------------------------------------------------------
The creditors of Man Glenwood Holdings II Ltd are required to file
their proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

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

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


MAN GLENWOOD: Members' Final Meeting Set for December 20
--------------------------------------------------------
The members of Man Glenwood Holdings II Ltd will hold their final
meeting on December 20, 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 November 12, 2010.

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


MAN LEUMI: Creditors' Proofs of Debt Due December 1
---------------------------------------------------
The creditors of Man Leumi Multi-Strategy Fund Ltd are required to
file their proofs of debt by December 1, 2010, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on November 17, 2010.

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


MAN LEUMI: Members' Final Meeting Set for December 22
-----------------------------------------------------
The members of Man Leumi Multi-Strategy Fund Ltd will hold their
final meeting on December 22, 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 November 17, 2010.

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


TIMICUAN HOLDINGS: Creditors' Proofs of Debt Due December 1
-----------------------------------------------------------
The creditors of Timicuan Holdings Ltd. are required to file their
proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 9, 2010.

The company's liquidator is:

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


TIMICUAN HOLDINGS: Members' Final Meeting Set for December 22
-------------------------------------------------------------
The members of Timicuan Holdings Ltd. will hold their final
meeting on December 22, 2010, at 10:00 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 November 9, 2010.

The company's liquidator is:

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


TIMICUAN REINSURANCE: Creditors' Proofs of Debt Due December 1
--------------------------------------------------------------
The creditors of Timicuan Reinsurance Ltd. are required to file
their proofs of debt by December 1, 2010, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on November 9, 2010.

The company's liquidator is:

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


TIMICUAN REINSURANCE: Members' Final Meeting Set for December 22
----------------------------------------------------------------
The members of Timicuan Reinsurance Ltd. will hold their final
meeting on December 22, 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 November 9, 2010.

The company's liquidator is:

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


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


ALLIANCEBERNSTEIN GLOBAL: Shareholders' Meeting Set for Dec. 13
---------------------------------------------------------------
The shareholders of Alliancebernstein Global Diversified
Strategies - Market Neutral (USD Managed) Ltd. - Hedge Fund B will
hold their final meeting on December 13, 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:

         John Sutlic
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman KYI-1102
         Cayman Islands


BRENTWOOD INDEMNITY: Creditors' Proofs of Debt Due December 14
--------------------------------------------------------------
The creditors of Brentwood Indemnity (Cayman) Ltd. are required to
file their proofs of debt by December 14, 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:

         Richard Hammer
         c/o Willis Management (Cayman) Ltd.
         62 Forum Lane, 3rd Floor, Camana Bay
         P.O. Box 30600, Grand Cayman KY1-1203
         Cayman Islands
         Telephone: (345) 949-6039
         Facsimile: (345) 949-6621


CASAM PLENUM: Shareholders' Final Meeting Set for December 10
-------------------------------------------------------------
The shareholders of Casam Plenum Admiral Fund Limited will hold
their final meeting on December 10, 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:

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


CHESTER ASSET: Shareholders' Final Meeting Set for December 3
-------------------------------------------------------------
The shareholders of Chester Asset Receivables Dealings No.5
Limited will hold their final meeting on December 3, 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:

         Hugh Dickson
         Andrea Richards
         P.O. Box 1370, Grand Cayman KY1- 1108
         Cayman Islands
         Telephone: (345) 815 8249
         Facsimile: (345) 949 7120


CHESTER ASSET: Shareholders' Final Meeting Set for December 3
-------------------------------------------------------------
The shareholders of Chester Asset Receivables Dealings No.10
Limited will hold their final meeting on December 3, 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:

         Hugh Dickson
         Andrea Richards
         P.O. Box 1370, Grand Cayman KY1- 1108
         Cayman Islands
         Telephone: (345) 815 8249
         Facsimile: (345) 949 7120


CICADA LIMITED: Creditors' Proofs of Debt Due December 17
---------------------------------------------------------
The creditors of Cicada Limited are required to file their proofs
of debt by December 17, 2010, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on October 27, 2010.

The company's liquidators are:

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


CICADA LIMITED: Shareholders' Final Meeting Set for December 20
---------------------------------------------------------------
The shareholders of Cicada Limited will hold their final meeting
on December 20, 2010, at 10:00 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 27, 2010.

The company's liquidators are:

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


CPC SCHWEPPES: Shareholders' Final Meeting Set for December 7
-------------------------------------------------------------
The shareholders of CPC Schweppes SBS, Ltd. will hold their final
meeting on December 7, 2010, to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Gregory Giannini
         Telephone: (214) 999-1000
         Facsimile: (214) 999-1022
         3030 Olive Street, Suite 500
         Dallas, TX 75219
         United States of America


FRESH (I): Shareholders' Final Meeting Set for December 14
----------------------------------------------------------
The shareholders of Fresh (I) Limited will hold their final
meeting on December 14, 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:

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


HELIODOR INVESTMENTS: Creditors' Proofs of Debt Due December 22
---------------------------------------------------------------
The creditors of Heliodor Investments Limited are required to file
their proofs of debt by December 22, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on November 1, 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


ICP STRATEGIC: Creditors' Proofs of Debt Due December 14
--------------------------------------------------------
The creditors of ICP Strategic Credit Income Master Fund Ltd are
required to file their proofs of debt by December 14, 2010, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on October 27, 2010.

The company's liquidator is:

         Hugh Dickson
         c/o Peter Bigwood
         P.O. Box 1370, Grand Cayman KY1- 1108
         Cayman Islands
         Telephone: (345) 815-8242
         Facsimile: (345) 949-7120


IIU FUNDS: Shareholders' Final Meeting Set for December 9
---------------------------------------------------------
The shareholders of IIU Funds SPC will hold their final meeting on
December 9, 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:

         Avalon Management Limited
         Landmark Square, 1st Floor
         64 Earth Close, West Bay Beach
         P.O. Box 715, Grand Cayman KY1-1107
         Cayman Islands
         Facsimile: 1 345 769-9351


LAFITTE FUND: Shareholders' Final Meeting Set for December 10
-------------------------------------------------------------
The shareholders of Lafitte Fund I Offshore Ltd. will hold their
final meeting on December 10, 2010, at 2:00 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


MS ASIA: Creditors' Proofs of Debt Due December 13
--------------------------------------------------
The creditors of MS Asia Pacific Holdings Limited are required to
file their proofs of debt by December 13, 2010, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on November 1, 2010.

The company's liquidator is:

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


MS ASIA: Creditors' Proofs of Debt Due December 13
--------------------------------------------------
The creditors of MS Asia Pacific Investment Limited are required
to file their proofs of debt by December 13, 2010, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on November 1, 2010.

The company's liquidator is:

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


NAI LS: Shareholders' Final Meeting Set for December 9
------------------------------------------------------
The shareholders of Nai LS Equity Fund Limited will hold their
final meeting on December 9, 2010, at 10:05 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


R.F. ALTS: Shareholders' Final Meeting Set for December 10
----------------------------------------------------------
The shareholders of R.F. Alts Finance II Limited will hold their
final meeting on December 10, 2010, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


REFRESH (I): Shareholders' Final Meeting Set for December 14
------------------------------------------------------------
The shareholders of Refresh (I) Ltd. will hold their final meeting
on December 14, 2010, at 10:10 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


RL CAPITAL: Shareholders' Final Meeting Set for December 10
-----------------------------------------------------------
The shareholders of RL Capital II Co. will hold their final
meeting on December 10, 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:

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


TRICO MARINE: Inks Restructuring Support Deal With Noteholders
--------------------------------------------------------------
In a regulatory filing Friday, Tricom Marine Services, Inc.,
disclosed that on November 19, 2010, it, its subsidiaries Trico
Supply AS and Trico Shipping AS and certain of its other
affiliates entered into a restructuring support agreement dated as
of November 17, 2010, with a group of noteholders who together
hold approximately 83% of the aggregate principal amount of Trico
Shipping's outstanding 11 7/8% senior secured notes due 2014.
Pursuant to the Restructuring Support Agreement, which sets forth
the terms of the Company's financial restructuring plan, the
Company would launch an out-of-court exchange offer to noteholders
to exchange their Notes for a pro rata share, together with
certain other creditors of the Company, of 100% of Trico Supply's
common stock subject to dilution in certain circumstances.  Upon
successful consummation of the Exchange Offer and related
transactions, the Company would reduce its total debt and accrued
interest by approximately US$462 million. The Restructuring
Support Agreement, as modified by an extension, would require the
Company to launch the Exchange Offer by December 3, 2010.

As an alternative to the Exchange Offer, the Company has also
agreed in the Restructuring Support Agreement to solicit consents
from its noteholders and stockholders to approve a prepackaged
plan of reorganization.  In the event certain conditions to the
Exchange Offer are not satisfied, and if a sufficient number of
holders and amount of Notes vote to accept the Prepackaged Plan,
the Company intends to pursue an in-court restructuring.  If
confirmed, the Prepackaged Plan would have principally the same
effect as if 100% of the holders of Notes had tendered their Notes
in the Exchange Offer, or, under certain circumstances, a sale of
the assets or equity of Trico Supply and its subsidiaries.

Pursuant to the Restructuring Support Agreement, the Supporting
Noteholders have agreed to, among other things, (1) support and
use commercially reasonable efforts to complete the capital
restructuring plan, including by tendering their Notes into the
Exchange Offer, delivering their consents in a related consent
solicitation and voting in favor of the Prepackaged Plan; and (2)
not exercise remedies or direct the trustee to exercise remedies
under the indenture governing the notes for any default or event
of default that has occurred or may occur thereunder.  The
Restructuring Support Agreement may be terminated by the
Supporting Noteholders and the Company upon the occurrence of
certain events enumerated in the Restructuring Support Agreement.

                        About Trico Marine

Headquartered in Texas, Trico Marine Services, Inc. --
http://www.tricomarine.com/-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed US$30,562,681 in assets and US$353,606,467 in
liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Cahill Gordon & Reindell LLP is the Debtors' special counsel.
Alix Partners Services, LLC, is the Debtors' chief restructuring
officer.  Epiq Bankruptcy Solutions is the Debtors' claims and
notice agent.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.


TRICO MARINE: Tidewater Raises Bid to US$30.5MM to Win Auction
--------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Trico Marine Services Inc. reported that the price
for the sale of two vessels rose US$4.5 million at auction last
week.  With three other bidders present, Tidewater Inc. raised its
stalking horse bid of US$26 million to US$30.5 million and won the
auction for the vessels Trico Moon and Trico Mystic.  A hearing
for approval of the sale was scheduled for November 29.

                        About Trico Marine

Headquartered in Texas, Trico Marine Services, Inc. --
http://www.tricomarine.com/-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed US$30,562,681 in assets and US$353,606,467 in
liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Cahill Gordon & Reindell LLP is the Debtors' special counsel.
Alix Partners Services, LLC, is the Debtors' chief restructuring
officer.  Epiq Bankruptcy Solutions is the Debtors' claims and
notice agent.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.


TRICO MARINE: Committee Wants to Pursue Lawsuits
------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that the Official Committee of Unsecured Creditors formed
in Trico Marine Services Inc.'s Chapter 11 case is seeking
authority to file fraudulent transfer lawsuits based on what it
calls the "ultimately disastrous acquisition campaign" in 2007 to
2008 that increased debt by US$1.05 billion.  The motion is
scheduled for hearing on Dec. 14.

Mr. Rochelle relates that the Committee points outs that Trico
Marine, rather than seek bankruptcy relief, instead had Trico
Shipping issue US$400 million in high-yield secured notes in
October 2009, with Trico Supply, Trico Marine and sister companies
guaranteeing and securing the debt.  The proposed suit would
contend that the note offering and related transactions resulted
in fraudulent transfers.  The committee aims on making recoveries
from subsidiaries not in Chapter 11.

                        About Trico Marine

Headquartered in Texas, Trico Marine Services, Inc. --
http://www.tricomarine.com/-- provides subsea services, subsea
trenching and protection services, and towing and supply vessels.
Trico filed for Chapter 11 protection on August 25, 2010 (Bankr.
D. Del. Case No. 10-12653).  John E. Mitchell, Esq., Angela B.
Degeyter, Esq., and Harry A. Perrin, Esq., at Vinson & Elkins LLP,
assist the Debtor in its restructuring effort.  The Debtor
disclosed US$30,562,681 in assets and US$353,606,467 in
liabilities as of the Petition Date.

Affiliates Trico Marine Assets, Inc. (Bankr. D. Del. Case No. 10-
12648), Trico Marine Operators, Inc. (Case No. 10-12649), Trico
Marine International, Inc. (Case No. 10-12650), Trico Marine
Cayman, L.P. (Case No. 10-12651), and Trico Holdco, LLC (Case No.
10-12652) filed separate Chapter 11 petitions.

Cahill Gordon & Reindell LLP is the Debtors' special counsel.
Alix Partners Services, LLC, is the Debtors' chief restructuring
officer.  Epiq Bankruptcy Solutions is the Debtors' claims and
notice agent.  Postlethwaite & Netterville serves as the Debtors'
accountant and Ernst & Young LLP serves as tax advisors.
Pricewaterhousecoopers LLC provides the independent accountants
and tax advisors for the Debtors.

Aside from the Cayman Islands holding company, Trico's foreign
subsidiaries were not included in the filing and will not be
subject to the requirements of the U.S. Bankruptcy Code.


VICTORY PARK: Creditors' Proofs of Debt Due December 22
-------------------------------------------------------
The creditors of Victory Park Special Situations Master Fund Ltd.
are required to file their proofs of debt by December 22, 2010, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on October 29, 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


VICTORY PARK: Creditors' Proofs of Debt Due December 22
-------------------------------------------------------
The creditors of Victory Park Special Situations Ltd. are required
to file their proofs of debt by December 22, 2010, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on October 29, 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


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


AIR JAMAICA: Robert Corbie Appointed as Caribbean Air CEO
---------------------------------------------------------
Robert Corbie is appointed as the new Chief Executive Officer of
Caribbean Airlines Limited, RadioJamaica reports.  The Trinidadian
airline has a controlling stake in Air Jamaica Limited.

According to RadioJamaica, Caribbean Airlines has disclosed that
Chief Executive Officer Captain Ian Brunton has demitted office
and Mr. Corbie, who is Vice President of Commercial and Customer
Experience, will hold the post for the time being.  Mr. Corbie
will oversee a newly merged work force of 1,866 employees, the
report notes.

Mr. Corbie, RadioJamaica relates, was quoted in a release as
saying that he has been mandated to have the airline function as
one company responsible for two brands: Caribbean Airlines and Air
Jamaica.  Caribbean Airlines will maintain its corporate
character, while Air Jamaica, will retain its name and own
corporate identity, the report notes.

Radiojamaica adds that although plans were announced for
integration earlier this month, the new board of directors has
announced that as leased Boeing 737-800's arrive to replace the
current Air Jamaica Airbus fleet, they will retain the Air Jamaica
name and branding.

                        About Air Jamaica

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.  Air Jamaica offers vacation packages
through Air Jamaica Vacations.  The company closed its intra-
island services unit, Air Jamaica Express, in October 2005.  As
reported in the Troubled Company Reporter-Latin America on
June 23, 2010, Trinidad and Tobago Caribbean Airline on May 1,
2010, acquired Air Jamaica for US$50 million and operated six Air
Jamaica aircraft and eight of its routes.  Jamaica got a 16% stake
in the merged operation, with CAL owning 84%.  According to a
TCRLA report on June 29, 2009, RadioJamaica News said the Jamaican
government indicated it will name a buyer for cash-strapped Air
Jamaica.  Radio Jamaica related the airline has been hemorrhaging
over US$150 million per annum and the government has had to foot
the massive bill.  In addition, Radio Jamaica said, Air Jamaica
currently has over US$600 million in loans outstanding.

                           *     *     *

As of August 18, 2010, the airline continues to carry Moody's "B3"
long-term, long-term corporate family, and senior unsecured debt
ratings.


KSAC: To Respond to Concerns on its Financial Woes
--------------------------------------------------
More light is to be shed on the financial affairs of the Kingston
and St. Andrew Corporation (KSAC), RadioJamaica reports.   The
report relates that an advisory from the KSAC says it will respond
to concerns raised by Kevin Taylor, People's National Party
Councillor, who has called for an audit of the Corporation's
books.

As reported in the Troubled Company Reporter-Latin America on
November 29, 2010, RadioJamaica said that more alarm is being
raised about the state of affairs at KSAC.  According to
RadioJamaica, reports are surfacing that several employees of the
Municipal Council are in arrears with various companies, because
funds from their salaries were not paid over after being deducted
by the Council.  RadioJamaica noted that Kevin Taylor, Councillor
for the Duhaney Park Division, first raised the issue of a cash
strapped KSAC on November 22, 2010.

Mr. Taylor, the report notes, is also threatening to call in
Contractor-General Greg Christie.

The Kingston and St. Andrew Corporation is an amalgamation of the
two Parishes: Kingston and St. Andrew. Kingston was established in
1692 after the destruction of Port Royal.  The Parish of Kingston
is entirely urban, while ST. Andrew consists of urban and rural
settlements.  The two Parishes were amalgamated in 1923 for the
purpose of Civic Administration.


KSAC: Wants to Use Money From Land Sale to Pay Deductions
---------------------------------------------------------
The Kingston and St. Andrew Corporation (KSAC) will ask the
central government for permission to use money from the sale of a
property to cover outstanding statutory and personal deductions
from employees' salaries, which it has failed to pay, RadioJamiaca
reports.

As reported in the Troubled Company Reporter-Latin America on
November 29, 2010, RadioJamaica said that more alarm is being
raised about the state of affairs at KSAC.  According to
RadioJamaica, reports are surfacing that several employees of the
Municipal Council are in arrears with various companies, because
funds from their salaries were not paid over after being deducted
by the Council.  RadioJamaica noted that Kevin Taylor, Councillor
for the Duhaney Park Division, first raised the issue of a cash
strapped KSAC on November 22, 2010.

According to RadioJamaica, the Committee meeting had been had been
heated but things came to a boiling point when Desmond McKenzie,
KSAC Chairman and Mayor of Kingston put a motion before the
Corporation for JM$20 million to be taken from the sale of a
property in Mona, St. Andrew to pay over statutory and personal
deductions for the staff at the organization.  "We seek leave from
the Department of Local Government to allow us to take that amount
from the proceeds of the sale of property in Mona for which we've
just received a cheque in part payment of JM$35 million," the
report quoted Mr. McKenzie as saying.

However, the report notes, Councillor Taylor, who started the fire
storm at a previous KSAC Finance Committee meeting, objected to
this motion.  RadioJamaica relates that Mr. Taylor argued that
funds from the sale of the property should not be used to pay
salaries and voluntary deductions.

Meanwhile, the report says, Mayor McKenzie told Councilors that
with the current financial standing of the Corporation, there was
little chance that funds will be allocated for Christmas projects.
"It is 90% certain that this council will not be able to do
anything this Christmas," the report quoted Mayor McKenzie as
saying.

This pronouncement caused uproar in the KSAC's Finance Committee
and Mayor McKenzie had to again exert his authority for calm to
return to the gathering, the report notes.  RadioJamaica relates
Mayor McKenzie further explained that with the current obligations
before the Corporation it was necessary to cut this allocation.

The Kingston and St. Andrew Corporation is an amalgamation of the
two Parishes: Kingston and St. Andrew. Kingston was established in
1692 after the destruction of Port Royal.  The Parish of Kingston
is entirely urban, while ST. Andrew consists of urban and rural
settlements.  The two Parishes were amalgamated in 1923 for the
purpose of Civic Administration.


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


CL FINANCIAL: CLICO Holders Vote Unanimously to Take Legal Action
-----------------------------------------------------------------
Renuka Singh at Trinidad Express reports that Colonial Life
Insurance Company (Trinidad) Limited (CLICO) Policyholders Group
voted unanimously to take legal action against the State.
Trinidad Express reports the vote came at a meeting of
policyholders at the Daaga Auditorium at the University of the
West Indies in St Augustine.  CLICO is CL Financial Limited.

According to the report, a member of the audience, Dolly Ali,
moved the vote and the response was a unanimous show of hands in
favor of the move to allow a five-man executive team to take legal
action to get back 100% of their investment into CL Financial
Limited.

Policyholders, Trinidad Express notes, also moved a vote of no
confidence in Finance Minister Winston Dookeran.

CLICO Policyholder Peter Permell assured the members that a move
towards legal action did not mean the negotiations with government
would cease, the report notes.  However, Mr. Permell advised
members to accept the government's initial TT$75,000 payout offer
only if it was given with "no strings attached," the report notes.

Mr. Pemell, Trinidad Express discloses, said that there has been
no word on possible "phantom or ghost accounts", yet policyholders
are being denied their interest payments for a third consecutive
month.  In September, Minister Dookeran stopped interest payments
for policyholders as a precautionary measure against possible
opportunistic "ghost account" holders, the report says.

Mr. Permell also said that the executive members were also
pledging their support to any move to bring the main directors of
CL Financial to justice, Trinidad Express adds.

                         About CL Financial

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

                           *     *     *

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

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



                            ***********


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 * * *