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

            Friday, December 10, 2010, Vol. 11, No. 244

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Owner Too Drugged to Defend Himself, Lawyers Say


A R G E N T I N A

ALDEA ANDINA: Creditors' Proofs of Debt Due February 5
AERUS SRL: Creditors' Proofs of Debt Due March 4
BODEGAS Y VINEDOS: Creditors' Proofs of Debt Due February 21
CANDY' SHOP: Asks for Preventive Contest
COMPANIA ALIMENTARIA: Creditors' Proofs of Debt Due March 4

FUENTE DE SALUD: Creditors' Proofs of Debt Due February 1
ISIDRA HOUSE: Creditors' Proofs of Debt Due March 8
MACREN INTERNATIONAL: Requests for Own Bankruptcy
RUTAS AL SUR: Creditors' Proofs of Debt Due February 17
URQUIZASHOP SA: Asks for Declaration of Bankruptcy


B R A Z I L

COMPANHIA DE SANEAMENTO: Fitch Assigns 'BB' Rating on Bonds


B O L I V I A

CREDINFORM INTERNATIONAL: Moody's Affirms 'Caa1' Insurance Rating


C A Y M A N  I S L A N D S

ATOMIUM FUNDING: Creditors' Proofs of Debt Due December 22
BLACK RIVER: Creditors' Proofs of Debt Due December 22
CAPSTONE CAYMAN: Creditors' Proofs of Debt Due December 21
C.I. FINANCE: Creditors' Proofs of Debt Due December 22
CITRINE CAYMAN: Creditors' Proofs of Debt Due December 22

CSPC HOLDINGS: Creditors' Proofs of Debt Due December 20
F&C CREDIT: Creditors' Proofs of Debt Due December 14
FLASH ELECTRONICS: Creditors' Proofs of Debt Due December 22
GLOBAL INTERNET: Creditors' Proofs of Debt Due December 22
GSC ABS: Creditors' Proofs of Debt Due December 22

GUGGENHEIM 2007-1: Creditors' Proofs of Debt Due December 22
ISCHUS HIGH: Creditors' Proofs of Debt Due December 22
ROBECO GLOBAL: Creditors' Proofs of Debt Due December 22
ROBECO GLOBAL: Creditors' Proofs of Debt Due December 22
SHEFFIELD CDO: Creditors' Proofs of Debt Due December 22

STADIA OFFSHORE: Creditors' Proofs of Debt Due December 22
TOPANGA CDO: Creditors' Proofs of Debt Due December 22
UNITED AMERICAN: Creditors' Proofs of Debt Due December 22
WESLEY INSURANCE: Shareholders' Final Meeting Set for December 14
WMP LIBOR: Creditors' Proofs of Debt Due December 22


J A M A I C A

CARIB CEMENT: Third Quarter Redundancy Exercise Costs JM$93 Mil.


M E X I C O

VITRO SAB: To File Bankruptcy by Dec. 16, El Financiero Says


P U E R T O  R I C O

GOMERA GOVI: Chapter 11 Case Summary & Creditors' List


U R U G U A Y

NUEVO BANCO: Fitch Puts 'BB-' Issuer Rating on Positive Watch


S T  V I N C E N T  &  T H E  G R E N A D I N E S

MILLENNIUM BANK: U.S. Court Appoints Richard Roper as Receiver


X X X X X X X X

* Moody's: Global Default Rate Fell to 3.3% in November 2010




                            - - - - -


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


STANFORD INT'L: Owner Too Drugged to Defend Himself, Lawyers Say
----------------------------------------------------------------
Caribbean360.com reports Robert Allen Stanford's attorneys are
claiming that he is too medicated to be of any use to himself in
preparation for, or during, his upcoming trial.  Mr. Stanford owns
Stanford International Bank Limited.

According to Caribbean360.com, public defender Ali Fazel put
forward the argument in documents submitted to U.S. District Judge
David Hittner who has three times denied bail requests by previous
attorneys on the grounds that Mr. Stanford is a flight risk.  In
this fourth attempt, Mr. Fazel identified for the judge a variety
of medications and the dosages his client has been taking since a
jailhouse beat down by another inmate last September, and the
effect they had been having on him, the report relates.

"These medications have left Mr. Stanford in an unfocused and
numbed state of mind," Caribbean360.com quotes Mr. Fazel as
saying, adding that they have "created a condition where the
accused can no longer assist counsel or invoke basic
constitutional rights."

Mr. Fazel, the report notes, said, specifically, that the
medications cause "tremors of the limbs, diminished range of
facial expression, slowness of speech, drowsiness and fatigue" and
therefore prevented Mr. Stanford from adequately reviewing
documents and helping in trial preparation.  Mr. Stanford may not
even be able to testify at his January 24 trial because of it, Mr.
Fazel added.

"The accused's behaviour, manner, facial expressions and emotional
responses, or their absence, combine to make an overall impression
-- an impression that can have a powerful influence on the outcome
of the trial," Mr. Fazel said, suggesting that Stanford's
condition could have an impact on the jury, Caribbean360.com adds.

                About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under management
or advisement.  Stanford Private Wealth Management serves more
than 70,000 clients in 140 countries.

On February 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and records
of Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission, on Feb. 17, 2009,
charged before the U.S. District Court in Dallas, Texas, Mr.
Stanford and three of his companies for orchestrating a
fraudulent, multi- billion dollar investment scheme centering on
an US$8 billion Certificate of Deposit program.

A criminal case was pursued against him in June 2009, before the
U.S. District Court in Houston, Texas.  Mr. Stanford pleaded not
guilty to 21 charges of multi-billion dollar fraud, money-
laundering and obstruction of justice.  Assistant Attorney General
Lanny Breuer, as cited by Agence France-Presse News, said in a 57-
page indictment that Mr. Stanford could face up to 250 years in
prison if convicted on all charges.  Mr. Stanford surrendered to
U.S. authorities after a warrant was issued for his arrest on the
criminal charges.

The criminal case is U.S. v. Stanford, H-09-342 (S.D. Tex.).  The
civil case is SEC v. Stanford International Bank, 09-cv-00298
(N.D. Tex.).


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


ALDEA ANDINA: Creditors' Proofs of Debt Due February 5
------------------------------------------------------
Ana Maria Lopez, the court-appointed trustee for Aldea Andina SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until February 5, 2011.

Ms. Lopez will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 2 in
Buenos Aires, with the assistance of Clerk No. 4, 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:

         Ana Maria Lopez
         Jose Cubas 3680
         Argentina


AERUS SRL: Creditors' Proofs of Debt Due March 4
------------------------------------------------
Fabiana Paula Perez, the court-appointed trustee for Aerus SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until March 4, 2011.

Ms. Perez will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 12
in Buenos Aires, with the assistance of Clerk No. 24, 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:

         Fabiana Paula Perez
         Carlos Pellegrini 1079
         Argentina


BODEGAS Y VINEDOS: Creditors' Proofs of Debt Due February 21
------------------------------------------------------------
Martin Alejandro Stolkiner, the court-appointed trustee for
Bodegas y Vinedos del Valle SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until February 21, 2011.

Mr. Stolkiner will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 18 in Buenos Aires, with the assistance of Clerk
No. 35, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Martin Alejandro Stolkiner
         Av. Cordoba 1367
         Argentina


CANDY' SHOP: Asks for Preventive Contest
----------------------------------------
Candy' Shop SRL asked for preventive contest.

The company stopped making payments last July 3.


COMPANIA ALIMENTARIA: Creditors' Proofs of Debt Due March 4
-----------------------------------------------------------
Alejandra Viviana Paz, the court-appointed trustee for Compania
Alimentaria Americana SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until March 4, 2011.

Ms. Paz 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:

         Alejandra Viviana Paz
         Lavalle 1646
         Argentina


FUENTE DE SALUD: Creditors' Proofs of Debt Due February 1
---------------------------------------------------------
Victor Tomasi, the court-appointed trustee for Fuente de Salud
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until February 1, 2011.

Mr. Tomasi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 38 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:

         Victor Tomasi
         Bogota 2791
         Argentina


ISIDRA HOUSE: Creditors' Proofs of Debt Due March 8
---------------------------------------------------
Alfredo Americo Iriondo, the court-appointed trustee for Isidra
House SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until March 8, 2011.

Mr. Iriondo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk
No. 37 will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Alfredo Americo Iriondo
         Ciudad de la Paz 1383
         Argentina


MACREN INTERNATIONAL: Requests for Own Bankruptcy
-------------------------------------------------
Macren International Travel SA requested for own bankruptcy.

The company stopped making payments last September 14, 2010.


RUTAS AL SUR: Creditors' Proofs of Debt Due February 17
-------------------------------------------------------
Graciela Lema de Muino, the court-appointed trustee for Rutas al
Sur SA's reorganization proceedings, will be verifying creditors'
proofs of claim until February 17, 2011.

Ms. Muino will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 12
in Buenos Aires, with the assistance of Clerk No. 23, 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.

Creditors will vote to ratify the completed settlement plan during
the assembly on November 21, 2011.

The Trustee can be reached at:

         Graciela Lema de Muino
         Basualdo 1064
         Argentina


URQUIZASHOP SA: Asks for Declaration of Bankruptcy
--------------------------------------------------
Urquizashop SA asked for declaration of bankruptcy.

The company stopped making payments last August 5, 2010.


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


COMPANHIA DE SANEAMENTO: Fitch Assigns 'BB' Rating on Bonds
-----------------------------------------------------------
Fitch Ratings has assigned a 'BB' Rating to Companhia de
Saneamento Basico do Estado de Sao Paulo's proposed bond issuance
of US$350 million due 2020.  Proceeds from the issuance are
intended to be used for debt amortization.  Fitch currently rates
Sabesp:

  -- Long-term local currency Issuer Default Rating 'BB';

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

  -- International long-term rating for the US$140 million notes
     'BB';

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

  -- Long-term National Scale Rating of the 9th debenture issue in
     the amount of BRL220 million 'A+(bra)'.

The Outlook for the corporate ratings is Stable.

Sabesp's ratings reflect the company's solid financial profile,
with high operating margins and robust cash flow from operations.
The ratings are also supported by Sabesp's almost monopolistic
position in its business area, as well as by the economies of
scale obtained by the company as the largest water utility company
in the Americas considering the number of customers.  Sabesp's
ratings are limited by the company's recurring necessity to roll
over a significant amount of debt, as well as exposure to
hydrology risk and political risk inherent in its government
control.  The ratings are also affected by moderate regulatory
risk due to the new and unproven sector legislation.

Strong Operational Cash Generation; Free Cash Flow Pressured by
Investments:

Sabesp's operational performance benefited from a tariff
readjustment of 4.43% in September 2009 and from 4.5% growth in
the volume of water and sewage billed from January to September
2010, as compared to the same period in 2009.  The tariff
readjustment of 4.05%, in September 2010, should only have a more
positive impact in the following quarters.  In the last 12 months
ended Sept. 30, 2010 the company reported record net revenues of
BRL7.2 billion, and EBITDA of BRL3.2 billion.  EBITDA margin of
44.9% remained in line with the historical level of 40% to 50% and
holds up favorably when compared to other Brazilian companies in
the sector.

For the LTM ended Sept. 30, 2010, Sabesp reported negative free
cash flow of BRL689 million due to a decrease CFO to BRL1.6
billion from BRL2.1 billion during 2009 and high investments,
which totaled BRL1.9 billion.  Over the next few years, Sabesp is
likely to report negative FCF as a result of high capital
expenditures of approximately BRL1.8 billion to BRL2 billion
annually.  Historically, investments have brought a modest
contribution to Sabesp's EBITDA as the company, for example, does
not charge customers for investments in the expansion of sewage
treatment capacity.

Moderate Weakening of Credit Metrics Expected for 2011:

Although Sabesp formalized its concession contract with the
Municipality of Sao Paulo in June 2010, its CFO would likely be
negatively affected.  According to the agreement signed, it will
have to transfer to the municipality, which represents over 50% of
its total net revenue, through a municipal fund (Fundo Municipal
de Saneamento Ambiental), 7.5% of its gross revenue in the city,
discounting taxes (PIS and Cofins) and the municipality default.
For the third quarter of 2010, the company reported transfers of
BRL80 million, which if annualized would amount to approximately
BRL320 million.  Fitch will closely monitor the approval by the
regulatory agency of the new tariff readjustment methodology to be
implemented from 2011 on, and the decision as to the possibility
of Sabesp passing on to the tariff the transfers made to the
municipal fund.

Sabesp's financial ratios, although expected to remain in line
with the assigned rating, would be pressured by high investments
and the new transfer to the municipal fund.  For 2010, Fitch
expects a leverage measured by total debt-to-EBITDA close to 2.8
times.  For the LTM ended Sept. 30, 2010, Sabesp reported
leverage, as measured by total debt-to-EBITDA of 2.6x and net
debt-to-EBITDA of 2.0x, which compare, respectively, with 2.6x and
2.4x reported in 2009.  During the same period, interest coverage
as measured by EBITDA-to-interest expense and funds from
operations interest coverage were high at 6.5x and 4.9x,
respectively.  The company expects to finance a significant
portion of its investments with foreign currency debt, which would
negatively impact Sabesp's financial profile and credit measures
in the event of strong devaluation of the Real.

Constant Need to Refinance Debt:

Sabesp would likely need to roll over significant amounts of debt
as they come due as a result of its capital expenditure needs and
likely negative FCF.  This risk is somewhat mitigated by the
company's satisfactory track record of access to the debt market,
based on the strength of its business and its relevant liquidity
position.  At the end of September 2010, Sabesp reported total
debt of BRL8.3 billion, in accordance with Fitch's criteria, of
which BRL1.2 billion was short-term debt.  Cash and marketable
securities amounted to BRL1.7 billion, including BRL338 million
released by Caixa Economica Federal, but which can only be used
for investments.  Total debt maturing until 2012 is BRL2.8
billion, excluding refinanced taxes and social security
obligations, with foreign currency debt representing 21% of total
financial obligations.  Foreign exchange exposure should increase
based on funding scheduled by the company.

Low Business Risk:

Sabesp's low business risk stems from its almost monopolistic
position as a water and sewage service provider and is ratified by
the company's resilient performance during the global economic
crisis.  Competition in its business is limited and the company
benefits from economies of scale compared with other companies in
the sector.  Sabesp has been efficient in reducing losses and has
made progress in signing concession contracts with the
municipalities it serves.  There is no expectation for significant
water supply problems over the short term.

Key Rating Drivers:

The corporate ratings and the Outlook could be positively affected
by the maintenance of credit metrics at levels compatible with a
better risk classification.  Further to that, Fitch's analysis
will also consider developments in the need for funding to roll
over debt.  Negative rating movement could occur should there be a
significant deterioration in Sabesp's financial profile.


=============
B O L I V I A
=============


CREDINFORM INTERNATIONAL: Moody's Affirms 'Caa1' Insurance Rating
-----------------------------------------------------------------
Moody's Latin America affirmed its Caa1 global local-currency
insurance financial strength rating on the Bolivian property and
casualty insurer Credinform International S.A. de Seguros.  The
rating outlook has been changed to positive from stable.  At the
same time, Credinform's IFS rating has been upgraded to A2.bo from
A3.bo on the Bolivian national scale; the outlook on this rating
remains positive.

                        Ratings Rationale

The upgrade of Credinform's national scale rating relates mainly
to the positive impact of recent capital contributions in 2010 on
the company's credit profile.  The shareholders of Credinform--
which is privately-owned by a local family -- injected Bs$10
million in March and BS$14 million in August, for a total of Bs$24
million.  "Gross underwriting leverage has now dropped to about 6x
shareholders' equity, from 12x at fiscal year-end 2009," says
analyst Diego Nemirovsky, adding that the company's regulatory
solvency margin has also improved considerably during the year.

The positive rating outlook for both the national scale and global
local currency IFS ratings reflects the company's sustained growth
in several business segments, while maintaining profitability.
Nemirovsky also notes recent improvements in certain corporate
governance and accounting practices, as well as other positive
credit considerations, such as Credinform's diversified book of
business and adequate reinsurance program.  "If these positive
trends continue and capitalization is maintained at current
levels, the company's rating could be upgraded over the next 12 to
18 months," he notes.

The rating agency said these positives are tempered by the
company's significant exposure to high risk investments,
specifically the company's investments in local bank deposits in
foreign currency, although this is common among Bolivian insurers.
Additionally, Credinform has weak reserve adequacy and the
Bolivian operating environment remains challenging.  The rating
outlook could be returned to stable from positive if the company's
reserves show further deterioration, or if there is a reversion of
the recent improved capital adequacy trends.

Credinform is a market leader in liability coverage for automobile
insurance in Bolivia, and is well diversified across other
segments, including fire and surety.  Credinform is headquartered
in La Paz, Boliva, and reported total assets of BS$235 million and
shareholders' equity of BS$63 million as of September 30, 2010.
For the three month period ending September 30, net income was
BS$4.7 million, and gross premiums written were BS$225 million.

Moody's insurance financial strength ratings are opinions of the
ability of insurance companies to pay punctually senior
policyholder claims and obligations.


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


ATOMIUM FUNDING: Creditors' Proofs of Debt Due December 22
----------------------------------------------------------
The creditors of Atomium Funding Corporation. 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 12,
2010.

The company's liquidator is:

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


BLACK RIVER: Creditors' Proofs of Debt Due December 22
------------------------------------------------------
The creditors of Black River Em Recovery 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 November 9, 2010.

The company's liquidator is:

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


CAPSTONE CAYMAN: Creditors' Proofs of Debt Due December 21
----------------------------------------------------------
The creditors of Capstone Cayman Special Purpose Fund LP are
required to file their proofs of debt by December 21, 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:

         Stuart Sybersma
         Trudy-Ann Baines
         Deloitte & Touche
         P.O. Box 1787 Grand Cayman KY1-1109
         Cayman Islands
         Telephone: (345) 949 7500
         Facsimile: (345) 949 8258
         e-mail: tabaines@deloitte.com


C.I. FINANCE: Creditors' Proofs of Debt Due December 22
-------------------------------------------------------
The creditors of C.I. Finance (Cayman) 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 November 10,
2010.

The company's liquidator is:

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


CITRINE CAYMAN: Creditors' Proofs of Debt Due December 22
---------------------------------------------------------
The creditors of Citrine Cayman Co., 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 November 10,
2010.

The company's liquidator is:

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


CSPC HOLDINGS: Creditors' Proofs of Debt Due December 20
--------------------------------------------------------
The creditors of CSPC Holdings Limited are required to file their
proofs of debt by December 20, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on November 8, 2010.

The company's liquidator is:

         Bernard Mcgrath
         Annie Chapman
         c/o #69 Dr. Roy's Drive
         PO Box 1043, George Town Grand Cayman KY1-1102
         Cayman Islands
         Telephone: 949-0050
         Facsimile: 949-8062


F&C CREDIT: Creditors' Proofs of Debt Due December 14
-----------------------------------------------------
The creditors of F&C Credit Alpha Fund Of Hedge Funds Limited 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 29, 2010.

The company's liquidator is:

         Hugh Dickson
         Prudence Pryce
         P.O. Box 1370, Grand Cayman KY1- 1108
         Cayman Islands
         Telephone: (345) 815-8240
         Facsimile: (345) 949-7120


FLASH ELECTRONICS: Creditors' Proofs of Debt Due December 22
------------------------------------------------------------
The creditors of Flash Electronics Holding 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 12,
2010.

The company's liquidator is:

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


GLOBAL INTERNET: Creditors' Proofs of Debt Due December 22
----------------------------------------------------------
The creditors of Global Internet Investments 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 11,
2010.

The company's liquidator is:

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


GSC ABS: Creditors' Proofs of Debt Due December 22
--------------------------------------------------
The creditors of GSC ABS CDO 2005-1, 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 November 11,
2010.

The company's liquidator is:

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


GUGGENHEIM 2007-1: Creditors' Proofs of Debt Due December 22
------------------------------------------------------------
The creditors of Guggenheim 2007-1, 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 November 11,
2010.

The company's liquidator is:

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


ISCHUS HIGH: Creditors' Proofs of Debt Due December 22
------------------------------------------------------
The creditors of Ischus High Grade Funding I 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 November 11,
2010.

The company's liquidator is:

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


ROBECO GLOBAL: Creditors' Proofs of Debt Due December 22
--------------------------------------------------------
The creditors of Robeco Global Telecom Opportunities Master
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 10,
2010.

The company's liquidator is:

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


ROBECO GLOBAL: Creditors' Proofs of Debt Due December 22
--------------------------------------------------------
The creditors of Robeco Global Long Short Quant Master 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 10,
2010.

The company's liquidator is:

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


SHEFFIELD CDO: Creditors' Proofs of Debt Due December 22
--------------------------------------------------------
The creditors of Sheffield CDO II, 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 November 11,
2010.

The company's liquidator is:

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


STADIA OFFSHORE: Creditors' Proofs of Debt Due December 22
----------------------------------------------------------
The creditors of Stadia Offshore Opportunity 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 November 11,
2010.

The company's liquidator is:

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


TOPANGA CDO: Creditors' Proofs of Debt Due December 22
------------------------------------------------------
The creditors of Topanga CDO, 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 November 11,
2010.

The company's liquidator is:

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


UNITED AMERICAN: Creditors' Proofs of Debt Due December 22
----------------------------------------------------------
The creditors of United American Global Market 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 11,
2010.

The company's liquidator is:

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


WESLEY INSURANCE: Shareholders' Final Meeting Set for December 14
-----------------------------------------------------------------
The shareholders of Wesley Insurance Company, SPC, Ltd. 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:

         Hugh Dickson
         c/o Prudence Pryce
         P.O. Box 1370, Grand Cayman KY1- 1108
         Cayman Islands
         Telephone: (345) 815-8240
         Facsimile: (345) 949-7120


WMP LIBOR: Creditors' Proofs of Debt Due December 22
----------------------------------------------------
The creditors of WMP Libor Plus Trading 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 10,
2010.

The company's liquidator is:

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


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


CARIB CEMENT: Third Quarter Redundancy Exercise Costs JM$93 Mil.
----------------------------------------------------------------
RadioJamaica reports that Caribbean Cement Company Limited said
the cost of redundancy carried out in the third quarter of its
financial year was JM$93 million.  The report relates that the
company did not reveal how much workers were affected by the cost
cutting measure.

According to RadioJamaica, Caribbean Cement said that the
redundancy exercise was part of the cost reduction program
implemented in the wake of massive losses due to reduced demand
for its products.

The company's volume sales were down 17% in the first nine months
of the year, but with increased prices, the value of cement sales
fell 11% to JM$6.1 billion, the report notes.  RadioJamaica
relates that along with massive losses forced Carib Cement to
borrow JM$1.1 billion from its parent company, Trinidad Cement
Company Limited.

However, the report says, Carib Cement noted that the borrowing is
unsustainable and so it decided to implement the cost cutting
measures which affected staff levels.

Caribbean Cement Company manufactures and sells cement.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
December 9, 2010, RadioJamaica said that Caribbean Cement
Company's balance sheet for the nine month period January to
September show it racked up a net loss of JM$1.1 billion from
JM$75 million loss suffered during the corresponding period last
year.  According to RadioJamaica, during the third quarter
Caribbean Cement suffered a JM$925 million deficit that was
largely due to the shutdown of the new Kiln for 40 days during
August and September, a JM$300 million reduction in domestic sales
revenues and costs associated with a staff rationalization
program.


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


VITRO SAB: To File Bankruptcy by Dec. 16, El Financiero Says
------------------------------------------------------------

Thomas Black at Bloomberg News reports that El Financiero
newspaper said Vitro, S.A.B. de C.V. plans to file for voluntary
bankruptcy in Mexico by December 16, 2010.

According to Bloomberg, El Financiero said Vitro SAB also is
extending the deadline for participating in its debt offer until
December 21, 2010.  The report relates that a modified Dutch
auction for the cash offer of the debt restructuring plan expired
on December 7 and won't be extended.

Vitro SAB, Bloomberg notes, said that it has majority support for
its debt plan by voting US$1.9 billion of intercompany debt the
company created last year.

As reported in the Troubled Company Reporter on December 8, 2010,
the Ad Hoc Group of Vitro Noteholders, which is comprised of
holders of approximately US$700 million of the Senior Notes issued
by Vitro S.A.B. de C.V. disclosed that certain of its members have
filed requests for injunctions and petitions seeking the opening
of involuntary reorganization proceedings in Mexico against Vitro
and its Mexican subsidiaries that are guarantors of the Senior
Notes.  The petitions were filed last week, pending determination
by the presiding court of certain preliminary matters raised by
the petitioning creditors, who are being represented in the
actions by Jaime R. Guerra Gonzalez and Jesus Angel Guerra Mendez
of Guerra Gonzalez y Asociados, S.C.w

                      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 creditors.


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


GOMERA GOVI: Chapter 11 Case Summary & Creditors' List
------------------------------------------------------
Debtor: Gomera Govi Inc.
        65th Infanteria Station
        P.O. Box 29618
        Rio Piedras, PR 00929-0618

Bankruptcy Case No.: 10-11367

Chapter 11 Petition Date: December 2, 2010

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Wigberto Lugo Mender, Esq.
                  LUGO MENDER & CO
                  Centro Internacional de Mercadeo
                  Carr 165 Torre 1, Suite 501
                  Guaynabo, PR 00968
                  Tel: (787) 707-0404
                  E-mail: wlugo@lugomender.com

Estimated Assets: US$1,000,001 to US$10,000,000

Estimated Debts: US$1,000,001 to US$10,000,000

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free
at http://bankrupt.com/misc/prb10-11367.pdf

The petition was signed by Alfredo Gonzalez, president.


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


NUEVO BANCO: Fitch Puts 'BB-' Issuer Rating on Positive Watch
-------------------------------------------------------------
Fitch Ratings has placed Nuevo Banco Comercial's foreign and local
currency long-term Issuer Default Rating of 'BB-', national long-
term rating of 'AA(ury)' and Support Rating of '4' on Rating Watch
Positive.  In addition, Fitch affirms the Support Rating Floor at
'B'.

The rating action follows the announcement of the acquisition of
NBC by Bank of Nova Scotia ('AA-') of 60% of the bank's equity,
held a consortium of foreign investors led by Advent
International; the Uruguayan government owns the remainder 40% in
the form of preferred stock with no voting rights.  The Rating
Watch will be resolved once the transaction is approved by the
Uruguayan and Canadian regulators and NBC's ratings will be
upgraded to reflect the potential support from Bank of Nova
Scotia.

NBC's ratings reflect the bank's strong national franchise, good
asset quality, high liquidity and capitalization levels, and its
improving overall performance.  The impact on the bank's
profitability of its significant asset US$ position and inflation
were also taken into consideration.

NBC is the third-largest private sector bank in Uruguay.  Its
market presence is significant in all segments and it had 6.1% of
the banking system's assets at end-2009.


=================================================
S T  V I N C E N T  &  T H E  G R E N A D I N E S
=================================================


MILLENNIUM BANK: U.S. Court Appoints Richard Roper as Receiver
--------------------------------------------------------------
Judge Reed O'Connor has appointed Richard B. Roper, III, Esq., at
Thompson & Knight LLP, as receiver for the defendants in the case
SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. MILLENNIUM BANK,
UNITED TRUST OF SWITZERLAND S.A., UT of S, LLC, MILLENNIUM
FINANCIAL GROUP, WILLIAM J. WISE, d/b/a STERLING ADMINISTRATION,
d/b/a sterling investment services, d/b/a millennium aviation,
KRISTI M. HOEGEL, a/k/a KRISTI M. CHRISTOPHER, a/k/a BESSY LU,
JACQUELINE S. HOEGEL, a/k/a JACQULINE S. HOEGEL, a/k/a JACKIE S.
HOEGEL, PHILIPPE ANGELONI, and BRIJESH CHOPRA, Defendants, and
UNITED T OF S, LLC, STERLING I.S., LLC, MATRIX ADMINISTRATION,
LLC, JASMINE ADMINISTRATION, LLC, LYNN P. WISE, DARYL C. HOEGEL,
RYAN D. HOEGEL, and LAURIE H. WALTON, Relief Defendants, Case Nos.
09-CV-050-O and 10-MC-0091 (N.D. Texas).

A copy of the Court's December 6, 2010 order is available at
http://is.gd/inhCIfrom Leagle.com.

Among the Receiver's rights is he may place the estate of any non-
individual parties in Chapter 11 bankruptcy.

As reported in the Troubled Company Reporter-Latin America on
March 30, 2009, the U.S. Securities and Exchange Commission
obtained an emergency court order halting a US$68 million Ponzi
scheme involving the sale of fictitious high-yield certificates of
deposit by Caribbean-based Millennium Bank.  The SEC alleged that
the scheme targeted U.S. investors and misled them into believing
they were putting their money in supposedly safe and secure CDs
that purportedly offered returns that were up to 321% higher than
legitimate bank-issued CDs.  The SEC's complaint alleged that
William J. Wise of Raleigh, N.C., and Kristi M. Hoegel of Napa,
Calif., orchestrated the scheme through Millennium Bank, its
Geneva, Switzerland-based parent United Trust of Switzerland S.A.,
and U.S.-based affiliates UT of S, LLC and Millennium Financial
Group.  In addition, the SEC has charged Jacqueline S. Hoegel (who
is the mother of Kristi Hoegel), Brijesh Chopra, and Philippe
Angeloni for their roles in the scheme.

                     About Millennium Bank

Millennium Bank was a licensed St. Vincent and the Grenadines
bank. Its parent is Geneva, Switzerland-based United Trust of
Switzerland S.A., and its U.S.-based affiliates are UT of S, LLC
and Millennium Financial Group.  The entities' founders are
William J. Wise of Raleigh, N.C. and Kristi M. Hoegel of Napa,
Calif.

In March 2009, the U.S. Securities and Exchange Commission sued
the bank, citing that the bank ran a US$68 million Ponzi scheme
involving the sale of fictitious high-yield certificates of
deposit (CDs) by Millennium Bank.  The SEC alleged that the scheme
targeted U.S. investors and misled them into believing they were
putting their money in supposedly safe and secure CDs that
purportedly offered returns that were up to 321% higher than
legitimate bank-issued CDs.

St Vincent and the Grenadines government's financial arm,
International Financial Services Authority (IFSA), has appointed
KPMG International as receiver for Millennium Bank, following the
SEC's fraud allegations.


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


* Moody's: Global Default Rate Fell to 3.3% in November 2010
------------------------------------------------------------
The trailing 12-month global speculative-grade default rate
dropped to 3.3% in November 2010, down from a level of 3.7% in
October, said Moody's Investors Service in a new report.  A year
ago, the global default rate stood much higher at 13.6%.

The ratings agency's default rate forecasting model now predicts
that the global speculative-grade default rate will fall to 2.9%
by the end of this year before declining further to 1.8% by
November 2011.  "We continue to expect stable, low default rates
for the near future," said Albert Metz, Moody's Director of Credit
Policy Research.  "However, there are risks that defaults may
increase, particularly if financing becomes scarce in the European
markets."

In the U.S., the speculative-grade default rate edged lower from
3.6% in October to 3.5% in November.  At this time last year, the
U.S. default rate reached the highest level in this cycle at
14.7%.  Meanwhile, the European default rate among speculative-
grade issuers declined to 1.9% in November from 2.8% in October
2010. The default rate in Europe stood at 11.5% in November 2009,
which was also the peak in the financial crisis.

Among U.S. speculative-grade issuers, Moody's forecasting model
foresees the default rate falling to 3.1% by December 2010, then
sliding further to 2.1% a year from now. In Europe, Moody's
forecasting model projects the speculative-grade default rate to
end this year at 2.0% before dropping to 1.2% in November next
year.

A total of seven Moody's-rated corporate debt issuers have
defaulted in November, which sends the year-to-date default count
to 52.  In comparison, a total of 257 defaults were recorded in
the comparable time period last year. All of November's defaults
were by North American issuers except for Anglo Irish Bank
Corporation Limited, which is based in Ireland.

Across industries over the coming year, default rates are expected
to be highest in the Hotel, Gaming, & Leisure sector in the U.S.
and Media: Advertising, Printing and Publishing sector in Europe.

Measured on a dollar volume basis, the global speculative-grade
bond default rate remained unchanged at 1.4% from October to
November.  Last year, the global dollar-weighted default rate was
noticeably higher at 19.6% in November 2010.

In the U.S., the dollar-weighted speculative-grade bond default
rate ended at 1.3% in November, up from the level of 1.1% in
October.  The comparable rate was 20.1% in November 2009. In
Europe, the dollar-weighted speculative-grade bond default rate
fell to 1.7% in November from 2.4% in October.  At this time last
year, the European speculative-grade bond default rate was 14.0%.
Moody's speculative-grade corporate distress index -- which
measures the percentage of rated issuers that have debt trading at
distressed levels -- came in at 11.5% in November, down from a
level of 14.1% in October.  A year ago, the index was much higher
at 24.2%.

In the leveraged loan market, three Moody's-rated loan issuers
defaulted in November, lifting the year-to-date loan default count
to 22. The trailing 12 month U.S. leveraged loan default rate fell
from 3.6% in October to 3.3% in November. A year ago, the loan
default rate stood much higher at 12.0%.

Moody's "November Default Report" is now available -- as are
Moody's other default research reports -- in the Ratings Analytics
section of Moodys.com.


                            ***********

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, Psyche A. Castillon, 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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