TCRLA_Public/101220.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

           Monday, December 20, 2010, Vol. 11, No. 250

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Receiver Sues Former Accountant Harry Failing


A R G E N T I N A

ASTIE HNOS: Creditors' Proofs of Debt Due December 27
BUENOS AIRES: Creditors' Proofs of Debt Due March 21
CASH CONVERTERS: Creditors' Proofs of Debt Due April 8
DISTRIPUEY SA: Requests for Preventive Contest
FELTA SUR: Creditors' Proofs of Debt Due March 4

FIDEICOMISO FINANCIERO: Moody's Assigns 'B2' Rating to Securities
GOLOTECA SA: Asks for Preventive Contest
MANUFACTURAS DE ENVASES: Creditors' Proofs of Debt Due March 22
ROSSTOC SA: Creditors' Proofs of Debt Due March 2
SCROLL INTERNATIONAL: Creditors' Proofs of Debt Due March 9

ZAPATILLAS Y ZAPATOS: Creditors' Proofs of Debt Due March 14


B R A Z I L

BANCO PANAMERICANO: Former Execs' Accounts Frozen, Estado Reports


C A Y M A N  I S L A N D S

CPI CAPITAL: Shareholders' Final Meeting Set for December 22
CSPC HOLDINGS: Members' Final Meeting Set for December 22
ELGIN CORPORATE: Shareholders' Final Meeting Set for December 23
ELGIN CORPORATE: Shareholders' Final Meeting Set for December 23
ELGIN OPPORTUNITIES: Shareholders' Final Meeting Set for Dec. 23

ELGIN OPPORTUNITIES: Shareholders' Final Meeting Set for Dec. 23
ISCHUS HIGH: Shareholders' Final Meeting Set for December 23
LEGION STRATEGIES: Shareholders' Final Meeting Set for December 22
MOE OIL: Shareholders' Final Meeting Set for December 21
PORTLAND CAPITAL: Shareholders Receive Wind-Up Report

PORTLAND GENERAL: Shareholders Receive Wind-Up Report
PORTLAND GLOBAL: Shareholders Receive Wind-Up Report
PORTLAND GLOBAL: Shareholders Receive Wind-Up Report
RAB EUROPEAN: Shareholders' Final Meeting Set for December 29
RAHAB HOLDINGS: Shareholders' Final Meeting Set for December 21

REGAL INVESTMENTS: Shareholders' Final Meeting Set for December 21
ROBECO GLOBAL: Shareholders' Final Meeting Set for December 23
ROBECO GLOBAL: Shareholders' Final Meeting Set for December 23
RULER HOLDINGS: Shareholders' Final Meeting Set for December 21
SAX LEASING: Members' Final Meeting Set for December 23

SHEFFIELD CDO: Shareholders' Final Meeting Set for December 23
SIOUX INVESTMENTS: Shareholders' Final Meeting Set for December 21
SPECIAL OPPORTUNITIES: Member to Hear Wind-Up Report on Dec. 21
STADIA OFFSHORE: Shareholders' Final Meeting Set for December 23
SYW OFFSHORE: Shareholders' Final Meeting Set for February 7

TINTAGEL LIMITED: Shareholders' Final Meeting Set for December 29
TOPANGA CDO: Shareholders' Final Meeting Set for December 23
UNITED AMERICAN: Shareholders' Final Meeting Set for December 23
WMP LIBOR: Shareholders' Final Meeting Set for December 23
ZANDER OFFSHORE: Shareholders' Final Meeting Set for December 23


M E X I C O

GRUPO IUSACELL: Bankruptcy Filing May Get Ruling This Week
* MEXICO: Moody's Assigns 'Ba1' Rating to Veracruz Loan


T R I N I D A D  &  T O B A G O

CL FIN'L: Clico Int'l Prepares to Work With Judicial Manager


X X X X X X X X

BOND PRICING: For the Week December 13, to December 17, 2010


                            - - - - -


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


STANFORD INT'L: Receiver Sues Former Accountant Harry Failing
-------------------------------------------------------------
Barrett Goldsmith at Houston Business Journal reports that Ralph
Janvey, the Dallas court-appointed receiver in the ongoing legal
proceedings against Robert Allen Stanford, has filed a lawsuit in
a United States district court against Mr. Stanford's former
accountant, Harry Failing.

In court documents, Houston Business Journal relates, Mr. Janvey
claims that Mr. Failing owes the receiver about US$840,000 from
bogus bank notes allegedly funneled to him by Stanford companies.

Mr. Failing's Sugar Land-based shop, Harry Earl Failing PC, was
the principal accounting firm for most of Stanford's businesses,
including the now-defunct Houston-based Stanford Financial Group,
according to Houston Business Journal.  The report relates that
Mr. Failing was also Mr. Stanford's personal accountant and tax
preparer, according to court documents filed on December 15.

The SEC has recently widened its probe of the alleged Ponzi scheme
to include brokerage executives, such as Austin-based broker
Patrick Cruickshank, the Financial Times reported, Houston
Business Journal 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
=================


ASTIE HNOS: Creditors' Proofs of Debt Due December 27
-----------------------------------------------------
The court-appointed trustee for Astie Hnos. S.H.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
December 27, 2010.

The trustee will present the validated claims in court as
individual reports on March 30, 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
July 7, 2011.


BUENOS AIRES: Creditors' Proofs of Debt Due March 21
----------------------------------------------------
The court-appointed trustee for Buenos Aires Sports S.A.'s
reorganization proceedings will be verifying creditors' proofs of
claim until March 21, 2011.

The trustee will present the validated claims in court as
individual reports on May 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
June 15, 2011.

Creditors will vote to ratify the completed settlement plan
during the assembly on November 28, 2011.


CASH CONVERTERS: Creditors' Proofs of Debt Due April 8
------------------------------------------------------
Maria Osso, the court-appointed trustee for Cash Converters
Central SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until April 8, 2011.

Ms. Osso will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 7 in
Buenos Aires, with the assistance of Clerk No. 14, 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:

         Maria Osso
         Araujo 1442
         Argentina


DISTRIPUEY SA: Requests for Preventive Contest
----------------------------------------------
Distripuey SA requested for preventive contest.

The company stopped making payments last August 10.


FELTA SUR: Creditors' Proofs of Debt Due March 4
------------------------------------------------
The court-appointed trustee for Felta Sur S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
March 4, 2011.


FIDEICOMISO FINANCIERO: Moody's Assigns 'B2' Rating to Securities
-----------------------------------------------------------------
Moody's Latin America has assigned a rating of Aa3.ar (Argentine
National Scale) and of B2 (Global Scale, Local Currency) to the
debt securities of Fideicomiso Financiero Secupyme XXXV.

                        Ratings Rationale

The rated securities are backed by a pool of bills of exchange
signed by agricultural producers in Argentina.  The bills of
exchange are guaranteed by Garantizar S.G.R., which is a financial
guarantor in Argentina.  Garantizar has a local currency national
scale rating of Aa3.ar and a global local currency rating of B2.

The rating assigned to this transaction is primarily based on the
rating of Garantizar.  Therefore, any future change in the rating
of the guarantor may lead to a change in the rating assigned to
this transaction.  The rating addresses the payment of interest
and principal on or before the legal final maturity date of the
securities.

Banco de Valores S.A. (Issuer and Trustee) issued one class of
debt securities denominated in Argentine pesos.  The rated
securities will bear a 5% annual interest rate.

The rated securities will be repaid from cash flow arising from
the assets of the Trust, constituted by a pool of fixed rate bills
of exchange denominated in US dollars signed by agricultural
producers and guaranteed by Garantizar S.G.R.  The bills of
exchange will have the same interest rate as the rated securities.
The promise to investors is to receive the payment of interest and
principal by the legal final maturity of the transaction.

Although the rated securities (and the bills of exchange) are
denominated in US dollars, they are payable in Argentine pesos at
the exchange rate published by Banco de la Nacion Argentina as of
the day prior to the date that the funds are initially deposited
into the Trust account.  As a result, the dollar is used as a
currency of reference and not as a mean of payment.  For that
reason, the transaction is considered to be denominated in local
currency.

If eight days before each payment date, the funds on deposit in
the trust account are not sufficient to make payments to
investors, the Trustee is obligated to request Garantizar to make
payment under the bills of exchange.  Garantizar, in turn, will
have five days to make this payment into the trust account.  Under
the terms of the transaction documents, the trustee has up to two
days to distribute interest and principal payments to investors.
Interest on the securities will accrue up to the date on which the
funds are initially deposited by either Garantizar, the exporter,
or the individual producers into the Trust account.

The designated Trustee in this transaction is Banco de Valores
S.A., rated by Moody's TQ1.ar.

Moody's did not receive or take into account a third party due
diligence report on the underlying assets or financial instruments
in this transaction.


GOLOTECA SA: Asks for Preventive Contest
----------------------------------------
Goloteca SA asked for preventive contest.

The company stopped making payments last October 1.


MANUFACTURAS DE ENVASES: Creditors' Proofs of Debt Due March 22
---------------------------------------------------------------
Miguel Marchesi, the court-appointed trustee for Manufacturas de
Envases Flexibles Limitada de Argentina SA's bankruptcy
proceedings, will be verifying creditors' proofs of claim until
March 22, 2011.

Mr. Marchesi will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 25 in Buenos Aires, with the assistance of Clerk
No. 49, 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:

         Miguel Marchesi
         Avellaneda 1135
         Argentina


ROSSTOC SA: Creditors' Proofs of Debt Due March 2
-------------------------------------------------
The court-appointed trustee for Rosstoc S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
March 2, 2011.

The trustee will present the validated claims in court as
individual reports on April 15, 2011.  The National Commercial
Court of First Instance in Buenos Aires will determine if the
verified claims are admissible, taking into account the trustee's
opinion, and the objections and challenges that will be raised by
the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court on
May 27, 2011.


SCROLL INTERNATIONAL: Creditors' Proofs of Debt Due March 9
-----------------------------------------------------------
The court-appointed trustee for Scroll International S.R.L.'s
bankruptcy proceedings will be verifying creditors' proofs of
claim until March 9, 2011.

The trustee will present the validated claims in court as
individual reports on April 20, 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 3, 2011.


ZAPATILLAS Y ZAPATOS: Creditors' Proofs of Debt Due March 14
------------------------------------------------------------
Hector Miguel Falvino, the court-appointed trustee for Zapatillas
y Zapatos SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 14, 2011.

Mr. Falvino will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 2, 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:

         Hector Miguel Falvino
         Avenida Pueyrredon 468
         Argentina


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


BANCO PANAMERICANO: Former Execs' Accounts Frozen, Estado Reports
-----------------------------------------------------------------
Jessica Brice at Bloomberg writes that Estado de S. Paulo
newspaper reported that the accounts of eight former Banco
Panamericano SA executives were frozen by a federal judge in
Brazil in an effort to secure financial damages amid a probe into
accounting irregularities.

Bloomberg relates that the newspaper said the federal police
requested the action citing a 21-page ruling from Judge Fausto
Martin De Sanctis.  The judge also granted a request to seize the
passports of those under investigation, Estado said, Bloomberg
notes.

Bloomberg discloses that a criminal probe was opened last month
after Brazil's central bank found accounting irregularities
related to the sale of loan portfolios by Banco Panamericano.

Documents and computers were taken from the homes of former
Panamericano executives being investigated on allegations of
fraudulent management, racketeering, money laundering and tax
evasion, the federal police said in a statement on December 16,
Bloomberg relates.

                    About Banco Panamericano

Bank offers loans, personal credit, investments, credit cards, and
lease financing.  Banco Panamericano operates throughout Brazil.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 12, 2010, Bloomberg News said that Banco Panamericano SA
could have been liquidated or subjected to a central bank
intervention to sell its assets if its controller had not tapped
BRL2.5 billion from Brazil's deposit insurance fund to rescue the
bank.  According to the report, Mr. Ferreira said that talks to
rescue Panamericano started Oct. 11 and were conducted by
Brazilian media mogul Silvio Santos, who controls the bank.

As of July 27, 2010, the company continues to carry Moody's "Ba2"
long-term rating, foreign currency long-term debt rating, and
long-term bank deposits ratings.


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


CPI CAPITAL: Shareholders' Final Meeting Set for December 22
------------------------------------------------------------
The shareholders of CPI Capital Partners Asia Pacific GP II Ltd.
will hold their final meeting on December 22, 2010, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Cititrust
         P.O. Box N1576, Citibank Bldg.
         Thompson Blvd., Nassau
         Bahamas


CSPC HOLDINGS: Members' Final Meeting Set for December 22
---------------------------------------------------------
The members of CSPC Holdings Limited will hold their final meeting
on December 22, 2010, at 10:00 a.m., to receive the liquidators'
report on the company's wind-up proceedings and property disposal.

The company's liquidators are:

         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


ELGIN CORPORATE: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------------
The shareholders of Elgin Corporate Credit Fund will hold their
final meeting on December 23, 2010, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Keith Blake
         KPMG
         Century Yard, 2nd Floor
         Cricket Square
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands


ELGIN CORPORATE: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------------
The shareholders of Elgin Corporate Credit Master Fund will hold
their final meeting on December 23, 2010, at 11:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Keith Blake
         KPMG
         Century Yard, 2nd Floor
         Cricket Square
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands


ELGIN OPPORTUNITIES: Shareholders' Final Meeting Set for Dec. 23
----------------------------------------------------------------
The shareholders of Elgin Opportunities Fund will hold their final
meeting on December 23, 2010, at 12:30 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Keith Blake
         KPMG
         Century Yard, 2nd Floor
         Cricket Square
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands


ELGIN OPPORTUNITIES: Shareholders' Final Meeting Set for Dec. 23
----------------------------------------------------------------
The shareholders of Elgin Opportunities Feeder Fund will hold
their final meeting on December 23, 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:

         Keith Blake
         KPMG
         Century Yard, 2nd Floor
         Cricket Square
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands


ISCHUS HIGH: Shareholders' Final Meeting Set for December 23
------------------------------------------------------------
The shareholders of Ischus High Grade Funding I Ltd. will hold
their final meeting on December 23, 2010, at 9:10 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


LEGION STRATEGIES: Shareholders' Final Meeting Set for December 22
------------------------------------------------------------------
The shareholders of Legion Strategies (Euro) Ltd will hold their
final meeting on December 22, 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:

         Cititrust
         P.O. Box N1576, Citibank Bldg
         Thompson Blvd., Nassau
         Bahamas


MOE OIL: Shareholders' Final Meeting Set for December 21
--------------------------------------------------------
The shareholders of Moe Oil & Gas, Ltd. will hold their final
meeting on December 21, 2010, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


PORTLAND CAPITAL: Shareholders Receive Wind-Up Report
-----------------------------------------------------
The shareholders of Portland Capital (Cayman) Limited received on
December 15, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


PORTLAND GENERAL: Shareholders Receive Wind-Up Report
-----------------------------------------------------
The shareholders of Portland General Partner Limited received on
December 15, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


PORTLAND GLOBAL: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Portland Global Real Estate Securities Master
Fund received on December 15, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


PORTLAND GLOBAL: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Portland Global Real Estate Securities Fund
received on December 15, 2010, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


RAB EUROPEAN: Shareholders' Final Meeting Set for December 29
-------------------------------------------------------------
The shareholders of Rab European Loan Fund Limited will hold their
final meeting on December 29, 2010, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         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


RAHAB HOLDINGS: Shareholders' Final Meeting Set for December 21
---------------------------------------------------------------
The shareholders of Rahab Holdings Ltd. will hold their final
meeting on December 21, 2010, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


REGAL INVESTMENTS: Shareholders' Final Meeting Set for December 21
------------------------------------------------------------------
The shareholders of Regal Investments LLC will hold their final
meeting on December 21, 2010, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


ROBECO GLOBAL: Shareholders' Final Meeting Set for December 23
--------------------------------------------------------------
The shareholders of Robeco Global Telecom Opportunities Master
Limited will hold their final meeting on December 23, 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


ROBECO GLOBAL: Shareholders' Final Meeting Set for December 23
--------------------------------------------------------------
The shareholders of Robeco Global Long Short Quant Master Limited
will hold their final meeting on December 23, 2010, at 9:20 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


RULER HOLDINGS: Shareholders' Final Meeting Set for December 21
---------------------------------------------------------------
The shareholders of Ruler Holdings Limited will hold their final
meeting on December 21, 2010, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


SAX LEASING: Members' Final Meeting Set for December 23
-------------------------------------------------------
The members of Sax Leasing No.2 will hold their final meeting on
December 23, 2010, at 11:00 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


SHEFFIELD CDO: Shareholders' Final Meeting Set for December 23
--------------------------------------------------------------
The shareholders of Sheffield CDO II, Ltd. will hold their final
meeting on December 23, 2010, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


SIOUX INVESTMENTS: Shareholders' Final Meeting Set for December 21
------------------------------------------------------------------
The shareholders of Sioux Investments LLC will hold their final
meeting on December 21, 2010, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


SPECIAL OPPORTUNITIES: Member to Hear Wind-Up Report on Dec. 21
---------------------------------------------------------------
The sole shareholder of Special Opportunities Offshore Fund Ltd.
will receive on December 21, 2010, at 10:00 a.m., the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         Martina de Lima
         Telephone: (345) 815-1790
         Facsimile: (345) 949-9877


STADIA OFFSHORE: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------------
The shareholders of Stadia Offshore Opportunity Fund, Ltd. will
hold their final meeting on December 23, 2010, at 10:50 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


SYW OFFSHORE: Shareholders' Final Meeting Set for February 7
------------------------------------------------------------
The shareholders of SYW Offshore Limited will hold their final
meeting on February 7, 2011, 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:

         Highwater Limited
         c/o Nicole Ebanks
         Telephone: (345) 943 2295
         Facsimile: (345) 943 2294
         Highwater Limited
         Grand Pavilion Commercial Centre, 1st Floor
         802 West Bay Road
         P.O. Box 31855, Grand Cayman KY1-1207
         Cayman Islands


TINTAGEL LIMITED: Shareholders' Final Meeting Set for December 29
-----------------------------------------------------------------
The shareholders of Tintagel Limited will hold their final meeting
on December 29, 2010, to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Jane Fleming
         Jean Ebanks
         Telephone: (345) 945-2187 (345)/945-2197
         PO Box 30464, Grand Cayman KY1-1202
         Cayman Islands


TOPANGA CDO: Shareholders' Final Meeting Set for December 23
------------------------------------------------------------
The shareholders of Topanga CDO, Ltd. will hold their final
meeting on December 23, 2010, at 9:40 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------------
The shareholders of United American Global Market Limited will
hold their final meeting on December 23, 2010, at 9:20 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


WMP LIBOR: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------
The shareholders of WMP Libor Plus Trading Limited will hold their
final meeting on December 23, 2010, at 9:10 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


ZANDER OFFSHORE: Shareholders' Final Meeting Set for December 23
----------------------------------------------------------------
The shareholders of Zander Offshore Ltd will hold their final
meeting on December 23, 2010, at 4:00 p.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


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


GRUPO IUSACELL: Bankruptcy Filing May Get Ruling This Week
----------------------------------------------------------
Jonathan Roeder and Crayton Harrison at Bloomberg report that
Grupo Iusacell SA has filed for a pre-arranged bankruptcy in
Mexico, seeking a restructuring plan with creditors for the second
time in four years.

A judge may rule on whether to begin bankruptcy proceedings this
week, Gricelda Nieblas, head of the Federal Institute of
Bankruptcy Specialists, a part of the judicial branch, told
Bloomberg in a telephone interview.

Owner Ricardo Salinas is seeking to revamp the wireless company
after failing to gain ground against larger America Movil SAB and
Telefonica SA since he bought control of the company in 2003.
Iusacell began talks to renegotiate its foreign-currency debt in
April 2009 and delisted its shares from Mexico's stock exchange
this year, Bloomberg discloses.

Grupo Iusacell SA is the Mexican mobile-phone carrier owned by
billionaire Ricardo Salinas.


* MEXICO: Moody's Assigns 'Ba1' Rating to Veracruz Loan
-------------------------------------------------------
Moody's de Mexico assigned a debt rating of A1.mx to the State of
Veracruz MXN3 billion loan from Interacciones.  At the same time,
Moody's Investors Service assigned a debt rating of Ba1 to this
loan.

                        Ratings Rationale

The MXN3 billion loan from Interacciones is payable through a
trust (Deutsche Bank as trustee), to which the State has pledged
the flows and rights of 7.5% of its participation revenues.  The
loan is denominated in Mexican pesos, with maturity of 15 years
and a grace period for principal repayment of 24 months.  The loan
will pay an interest rate composed of the 28-day Mexican Interbank
Interest Rate (TIIE in Spanish) plus a spread of 340 basis points.

The Ba1/A1.mx ratings assigned to the loan reflect the underlying
creditworthiness of the State of Veracruz (Ba3/A3.mx), supported
by these legal and credit enhancements embedded in the loan.

1.  Validity of the legal authorization of the transaction, which
    authorizes the trust to be used as a mechanism for debt
    service payment.

2.  Strong trust structure based on an irrevocable notification to
    the federal treasury regarding the transfer of rights and
    flows of participation revenues to the trustee.

3.  Estimated cash flows generate solid debt service coverage
    ratios.  Under a Moody's base case scenario, cash flows for
    the loan are projected to provide 2.9x debt service coverage
    at the lowest point over the life of the loan.  Under a stress
    case scenario, estimated cash flows for the loan are projected
    to provide 2.7x debt service coverage, at the lowest point
    over the life of the loan.

4.  Solid level of reserve funds that represent 2.3x coverage of
    debt service at the minimum point over the life of the loan
    and provide a solid cushion against payment delays.

The rating rationale also recognizes this credit challenge:

1.  Absence of adjustments to the state's fiscal policy framework,
    leading to higher than expected indebtedness and/or further
    deterioration in liquidity, could exert downward pressure on
    the issuer rating.  A downward revision to the issuer rating
    may exert downward pressure on the ratings assigned to this
    enhanced loan.

The last rating action with respect to the State of Veracruz was
taken on August 4 2010, when Moody's downgraded the issuer ratings
to Ba3/A3.mx from Ba2/A2.mx.


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


CL FIN'L: Clico Int'l Prepares to Work With Judicial Manager
------------------------------------------------------------
National News reports that Clico International Life Insurance is
prepared to work with the appointed judicial manager, Deloitte and
Touche, to lead the firm as it grapples with liquidity
difficulties.  National News relates that CLICO has also stated
that it will be working to safeguard the various investments of
policyholders and investors.  Clico International is a subsidiary
of CL Financial Limited.

In a press statement, CLICO noted that despite its efforts at
restructuring its short-term obligations to policyholders and
investors, it has been challenged given the demands by
policyholders, many of whom have lost confidence because of the
financial troubles facing the once mighty pan-Caribbean company,
according to National News.

The report notes that CLICO said judicial management was one of
the routes by which the restructuring of the company and its
continuity can be achieved.

CLICO Life, National News discloses, is part of the CL Financial
Barbados operations.  The company was able to sell off its
mortgage company, CMFC to the Barbados Public Workers' Cooperative
Credit Union and is in the process of selling CLICO General
Insurance to another local company, the report says.

National News adds that a number of policyholders and investors in
CLICO Life have complained of not being able to recoup their
investments.

                        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.


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


BOND PRICING: For the Week December 13, to December 17, 2010
------------------------------------------------------------

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


ARGENTINA
---------

ARGENT-DIS               5.83   12/31/2033     ARS          183.8
ARGENT-PAR               1.18   12/31/2038     ARS           71.5
ARGENT-EURDIS            7.82   12/31/2033     EUR           73.75
ARGENT-EURDIS            7.82   12/31/2033     EUR           73.5
ARGENT-JPYDIS            4.33   12/31/2033     JPY           42
ARGENT-JPYPAR&GDP        0.45   12/31/2038     JPY            8
BODEN 2014                  2   9/30/2014      ARS          161.3
BOGAR 2018                  2   2/4/2018       ARS          160.5


CAYMAN ISLAND
-------------

BANCO BPI (CI)           4.15   11/14/2035     EUR          49.683
BANIF FIN LTD               3   12/31/2019     EUR          58.625
BCP FINANCE BANK         5.01   3/31/2024      EUR          56.707
BCP FINANCE BANK         5.31   12/10/2023     EUR          59.262
BCP FINANCE CO          4.239                  EUR          49.873
BCP FINANCE CO          5.543                  EUR          50.513
BES FINANCE LTD           4.5                  EUR          58.033
BES FINANCE LTD          5.58                  EUR          49.748
BES FINANCE LTD         6.984   2/7/2035       EUR          59.626
BES FINANCE LTD         6.625                  EUR             N/A
DUBAI HLDNG COMM            6   2/1/2017       GBP          72.401
EFG ORA FUNDING           1.7   10/29/2014     EUR          63.029
ESFG INTERNATION        5.753                  EUR          53.542
IMCOPA INTL CAYM       10.375   12/16/2014     USD              38
PUBMASTER FIN           6.962   6/30/2028      GBP          48.122
PUBMASTER FIN            8.44   6/30/2025      GBP          54.851
PUNCH TAVERNS           4.767   6/30/2033      GBP          76.627


CHILE
-----

AGUAS NUEVAS              3.4   5/15/2012      CLP          0.4448
CGE DISTRIBUCION         3.25   12/1/2012      CLP          38.351
ESVAL S.A.                3.8   7/15/2012      CLP          50.121
MASISA                   4.25   10/15/2012     CLP          38.432


PUERTO RICO
-----------

PUERTO RICO CONS          6.2   5/1/2017       USD            47
PUERTO RICO CONS          6.5   4/1/2016       USD            49.7


VENEZUELA
---------

PETROLEOS DE VEN          4.9   10/28/2014     USD          62.728
PETROLEOS DE VEN            5   10/28/2015     USD          58.184
PETROLEOS DE VEN        5.125   10/28/2016     USD          55.081
PETROLEOS DE VEN         5.25   4/12/2017      USD          58.242
PETROLEOS DE VEN        5.375   4/12/2027      USD          47.484
PETROLEOS DE VEN          5.5   4/12/2037      USD          46.176
PETROLEOS DE VEN          8.5   11/2/2017      USD          68.039
VENEZUELA                5.75   2/26/2016      USD          70.25
VENEZUELA                   6   12/9/2020      USD          57.9
VENEZUELA                   7   12/1/2018      USD          66.25
VENEZUELA                   7   3/31/2038      USD          55.428
VENEZUELA                   7   3/31/2038      USD          56.75
VENEZUELA                7.65   4/21/2025      USD          61
VENEZUELA                7.75   10/13/2019     USD          66.75
VENEZUELA                8.25   10/13/2024     USD          63.75
VENEZUELA                   9   5/7/2023       USD          68.15
VENEZUELA                9.25   9/15/2027      USD          70.053
VENEZUELA                9.25   5/7/2028       USD          68.25
VENEZUELA                9.25   9/15/2027      USD          73.5
VENZOD - 189000         9.375   1/13/2034      USD          68.75


                            ***********

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, Ivy B. Magdadaro, 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 * * *