TCRLA_Public/101221.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

           Tuesday, December 21, 2010, Vol. 11, No. 251

                            Headlines



A R G E N T I N A

BAUTEL SRL: Creditors' Proofs of Debt Due April 18
EXPRESO USPALLATA: Creditors' Proofs of Debt Due March 18
GASTRONOMIA ARGENTINA: Requests for Preventive Contest
JAGER BURO: Creditors' Proofs of Debt Due February 15


B R A Z I L

JULIO SIMOES: Fitch Assigns 'BB-' Issuer Default Rating


C A Y M A N  I S L A N D S

ACERO TMT: Creditors' Proofs of Debt Due December 27
ATSLAHA CAPITAL: Creditors' Proofs of Debt Due January 6
BLACKROCK CAYMAN: Creditors' Proofs of Debt Due December 27
BLUEBAY EMERGING: Creditors' Proofs of Debt Due January 10
BLUEBAY (MASTER): Creditors' Proofs of Debt Due January 10

CMF SANDRIDGE: Placed Under Voluntary Liquidation
ECP CAYMAN: Creditors' Proofs of Debt Due January 6
GYLDMARK LIQUID: Creditors' Proofs of Debt Due January 6
OCCAM CIRRUS: Creditors' Proofs of Debt Due January 6
OPSIS ENERGY: Creditors' Proofs of Debt Due January 6

P-CAP FUND: Creditors' Proofs of Debt Due January 6
POSCO AUSTRALIA: Creditors' Proofs of Debt Due January 6
RENEWABLE ENERGY: Creditors' Proofs of Debt Due December 29
RIPPLEWOOD NIPPON: Creditors' Proofs of Debt Due January 6
SCIVEST NET: Creditors' Proofs of Debt Due January 6

SL IBIS: Creditors' Proofs of Debt Due January 6
SMITH BREEDEN: Creditors' Proofs of Debt Due January 6
TDAM NORTH: Creditors' Proofs of Debt Due January 6
TDAM NORTH: Creditors' Proofs of Debt Due January 6
WIOSNA LIMITED: Creditors' Proofs of Debt Due January 4


M E X I C O

MAXCOM SAB: Moody's Junks Corporate Family Rating from 'B3'
MEXICANA AIRLINE: Misses Mid-December Target to Fly Again


T U R K S  & C A I C O S

OLINT CORP: Lawyers Want David Smith's U.S. Trial Pushed Back


X X X X X X X X


* Large Companies With Insolvent Balance Sheets


                            - - - - -


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


BAUTEL SRL: Creditors' Proofs of Debt Due April 18
--------------------------------------------------
Hector Martinez, the court-appointed trustee for Bautel SRL's
bankruptcy proceeding, will be verifying creditors' proofs of
claim until April 18, 2011.

Mr. Martinez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 14 in Buenos Aires, with the assistance of Clerk
No. 28, 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 Martinez
         Teniente General Juan Domingo Peron 1219
         Argentina


EXPRESO USPALLATA: Creditors' Proofs of Debt Due March 18
---------------------------------------------------------
Estudio Bizcarte, the court-appointed trustee for Expreso
Uspallata SA's reorganization proceedings, will be verifying
creditors' proofs of claim until March 18, 2011.

Mr. Bizcarte 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:

         Estudio Bizcarte
         Panelli y Asoc.
         Argentina


GASTRONOMIA ARGENTINA: Requests for Preventive Contest
------------------------------------------------------
Gastronomia Argentina 1810 SRL requested for preventive contest.

The company stopped making payments last September 17.


JAGER BURO: Creditors' Proofs of Debt Due February 15
-----------------------------------------------------
Gustavo Milio, the court-appointed trustee for Jager Buro SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until February 15, 2011.

Mr. Milio will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 14
in Buenos Aires, with the assistance of Clerk No. 27, 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:

         Gustavo Milio
         Echenagucia 925
         Argentina


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


JULIO SIMOES: Fitch Assigns 'BB-' Issuer Default Rating
-------------------------------------------------------
Fitch Ratings has assigned these ratings to Julio Simoes S.A:

  -- Foreign currency Issuer Default Rating 'BB-';
  -- Local currency IDR 'BB-';
  -- National scale rating 'A(bra)'.

Fitch has also assigned an 'A-(bra)' rating to JSL's proposed
BRL250 million unsecured debentures issuance due 2016.  Proceeds
from the proposed issuance will be used primarily to refinance
short-term debt.

The Rating Outlook is Stable.

The ratings reflect JSL's solid business profile, supported by its
leading position in the Brazilian logistics industry, its moderate
financial leverage, and adequate liquidity.  JSL's credit profile
benefits from the reasonable predictability of its revenues and
margins, as a result of long-term contracts, and also from its
diversified service portfolio and long-term relationships with its
major customers.  The ratings also incorporate the market value of
its fleet, which collateralizes a portion of its debt; additional
liquidity provided by the unencumbered fleet is somewhat positive
but limited given the time it takes to monetize these assets.  The
ratings also consider that JSL will be successful in its
refinancing strategy and its ability to lengthen its debt maturity
profile, which would make it more compatible with the current
ratings assigned.

JSL's ratings are constrained by the company's close ties to
macroeconomic conditions in Brazil.  The industry is capital
intensive and the company continues to grow, which results in the
recurring need to access funding to finance negative free cash
flow.  Fitch also expects increased competition in the medium- to
long-term in the business segments in which the company operates,
particularly in dedicated supply chain services.  JSL's main
challenge will continue to be its ability to capture the likely
growth opportunities in its market without significantly altering
its leverage.

The transportation/logistics sector is still extremely fragmented,
but has huge potential for expansion based on the positive outlook
for the Brazilian economy; Fitch expects 4.5% growth in 2011.
Further, there are significant opportunities to improve the
efficiency in many industries' logistics that will also support
demand growth in the sector.  The assigned rating to the
debentures is one notch below Fitch's national scale rating for
Brazil due to their structural subordination in relation to most
of the company's debt, which is secured by its fleet.

   Prominent Market Position and Diversified Services Portfolio

JSL's diversified services portfolio, with operations in multiple
sectors of the economy, coupled with its long-term contracts for
most of its revenues, partially mitigate the business' exposure to
economic volatilities.  The company's business strategy is to
offer a diversified portfolio of logistics services through an
integrated operating platform that gives it a significant
competitive advantage compared with other players that operate a
single service.  JSL's significant operating scale has made it an
important purchaser of light vehicles and trucks, giving it a
significant amount of bargaining power over its industry
competitors.  The company offers a wide range of services
including: services dedicated to the supply chain (53% net
revenue), fleet management and outsourcing (21% net revenue),
passenger transportation (14% net revenue), and general cargo
transportation (10% net revenue).

The company's client portfolio, mainly composed of companies with
a strong position in the local economy, along with its customized
logistics operations which support long-lasting commercial
relationships and the loyalty associated with these existing
contracts all underscore Julio Simoes's strong business profile.
Competitive threats seem unlikely in the near term, as the company
has no single competitor operating in all its business segments.
Nevertheless, there is an ongoing trend for increased
professionalism in this industry which may ramp-up competition in
the medium- to long-term and thus affect margins in the sector.

         Expansion Opportunities Pressures Free Cash Flow

JSL has the potential to increase its operating cash flow in the
next few years, as it should be able to benefit from the favorable
economic growth, as well as for increasing demand for logistical
services in Brazil.  The company's expansion over the past few
years was mainly based on organic growth, by adding new services
and clients, and building up its fleet.  Between 2007 and the
latest 12 months ending Sept. 30, 2010, net revenue, excluding
vehicle sales, increased by 74% to BRL1.7 billion, while the fleet
grew 68%.  In the same period, operating cash generation, measured
by EBITDA, rose from BRL198 million to BRL312.5 million, according
to Fitch's calculations, with EBITDA margins of 19,3% and 16.8%,
respectively.

In the LTM ended Sept. 30, 2010, JSL reported cash flow from
operations of BRL133.9 million, compared to BRL106.3 million and
BRL99.4 million registered in 2009 and 2008, respectively.  The
company is still reporting negative FCF, mainly due to its
business growth and the capital-intensive nature of the business.
In the ended Sept. 30, 2010, JSL reported a negative FCF of
BRL439.3 as a result of BRL478.5 million of capital expenditures.
Fitch expects the company will continue to report negative FCFs as
its operations expand, but at lower levels due to the stronger
cash flow generation as a result of previously made investments.

  Satisfactory Liquidity; Debt Profile Improvements are Expected

Julio Simoes' liquidity is satisfactory and the company's strategy
is to sustain this liquidity position going forward.  As of Sept.
30, 2010, Julio Simoes reported total debt of BRL1.4 billion, with
total cash and marketable securities of BRL379 million and a
short-term debt position of BRL428 million, translating into
short-term debt coverage ratio of 89%.  The levels of short-term
debt coverage as measured by cash + funds from operations/short-
term debt and cash + CFFO/short-term debt were 1.7 times (x) and
1.2x, respectively; satisfactory levels given the company's
reasonable stability cash flow generation.

JSL's liquidity position largely reflects the proceeds from its
initial public offering, of BRL463 million in April 2010.  Part of
these resources will be used to finance its business expansion.
Management indicates that it intends to operate with greater
liquidity than experienced in previous years.  Fitch expects the
company will adequately manage its liquidity, and will sustain
current debt coverage levels, consistent with the current rating
levels.  The company's debt profile is mainly based on FINAME
operations (50%), working capital credit lines (19%), and leasing
(15%).

        Moderate Leverage and Liquidity Potential of Fleet

Julio Simoes' credit metrics are acceptable for companies
operating in this segment and within this rating category.  In the
LTM ending Sept. 30, 2010, Julio Simoes reported leverage, as
measured by total debt/EBITDA, of 4.6x, and net debt/EBITDA of
3.4x, which compares with the 4.7x and 4.3x ratios reported in
2009, respectively.  Based on adjusted EBITDA, which excludes the
residual cost of vehicle sales, the total adjusted leverage was
2.7x, and net adjusted leverage 2.0x in the LTM ending Sept. 30,
2010.  Fitch expects the company to maintain its net leverage at
around 3.5x in the medium term.

Julio Simoes' leverage relative to its fleet market value is
solid.  The company reports a fleet market value of approximately
BRL1.5 billion, corresponding to 1.2x and 1.8x of its total and
net levels of indebtedness, respectively.  The elevated levels of
collateral coverage provided by these assets also indicate that in
an unfavorable economic scenario with low liquidity, any potential
forced sale of assets would likely be sufficient to maintain the
coverage index at higher than 1.0x.

                        Key Rating Drivers

The ratings could benefit from a higher-than-expected cash flow
generation, leading to a sustained leverage reduction, which
coupled with the maintenance of a strong cash position could
positively affect the company's credit quality.  The ratings may
be pressured by acquisitions at higher than historical levels,
significant reduction in its fleet market value and by a less
favorable macroeconomic environment that would hurt cash flow and
profitability.  Greater exposure to refinancing risks due to any
significant deterioration in liquidity and/or failure in
lengthening its debt profile could also pressure the ratings.


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


ACERO TMT: Creditors' Proofs of Debt Due December 27
----------------------------------------------------
The creditors of Acero TMT Offshore Fund, Ltd. are required to
file their proofs of debt by December 27, 2010, to be included in
the company's dividend distribution.

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

The company's liquidator is:

         Ogier
         Phil Hughes
         Telephone: (345) 949-9876
         Facsimile: (345) 949-9877
         c/o Ogier Fiduciary Services (Cayman) Limited
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ATSLAHA CAPITAL: Creditors' Proofs of Debt Due January 6
--------------------------------------------------------
The creditors of Atslaha Capital Limited are required to file
their proofs of debt by January 6, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on November 23,
2010.

The company's liquidator is:

         Avalon Management Limited
         Reference: GL
         Telephone: (+1) 345 769 4422
         Facsimile:   (+1) 345 769 9351
         Landmark Square, 1st Floor
         64 Earth Close, West Bay Beach
         PO Box 715, George Town Grand Cayman KY1-1107
         Cayman Islands


BLACKROCK CAYMAN: Creditors' Proofs of Debt Due December 27
-----------------------------------------------------------
The creditors of Blackrock Cayman Company are required to file
their proofs of debt by December 27, 2010, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on November 11,
2010.

The company's liquidator is:

         Stephen Hart
         40 East 52nd Street
         New York, NY 10022
         United States of America
         Telephone: +1 212-810-5300
         e-mail: stephen.hart@blackrock.com


BLUEBAY EMERGING: Creditors' Proofs of Debt Due January 10
----------------------------------------------------------
The creditors of The Bluebay Emerging Market Total Return Fund
Limited are required to file their proofs of debt by January 10,
2011, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on November 9, 2010.

The company's liquidator is:

         John Sutlic
         c/o Kim Charaman
         Telephone: (345) 949-8455
         Facsimile: (345) 949-8499
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box   1034, Grand Cayman, KY1-1102
         Cayman Islands


BLUEBAY (MASTER): Creditors' Proofs of Debt Due January 10
----------------------------------------------------------
The creditors of The Bluebay (Master) Fund II Limited are required
to file their proofs of debt by January 10, 2011, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on November 9, 2010.

The company's liquidator is:

         John Sutlic
         c/o Kim Charaman
         Telephone: (345) 949-8455
         Facsimile: (345) 949-8499
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box   1034, Grand Cayman, KY1-1102
         Cayman Islands


CMF SANDRIDGE: Placed Under Voluntary Liquidation
-------------------------------------------------
CMF Sandridge Feeder (Cayman) Ltd. commenced liquidation
proceedings on November 22, 2010.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

         Jennifer Magro
         c/o Maples and Calder, Attorneys-at-law
         PO Box 309, Ugland House
         Grand Cayman KY1-1104
         Cayman Islands


ECP CAYMAN: Creditors' Proofs of Debt Due January 6
---------------------------------------------------
The creditors of ECP Cayman GP Limited are required to file their
proofs of debt by January 6, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on November 22,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


GYLDMARK LIQUID: Creditors' Proofs of Debt Due January 6
--------------------------------------------------------
The creditors of Gyldmark Liquid Macro Master Fund Limited are
required to file their proofs of debt by January 6, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on November 9, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


OCCAM CIRRUS: Creditors' Proofs of Debt Due January 6
-----------------------------------------------------
The creditors of Occam Cirrus General Partner Inc. are required to
file their proofs of debt by January 6, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on November 1, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9004, Cayman Islands


OPSIS ENERGY: Creditors' Proofs of Debt Due January 6
-----------------------------------------------------
The creditors of Opsis Energy Fund Ltd. are required to file their
proofs of debt by January 6, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on November 18,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


P-CAP FUND: Creditors' Proofs of Debt Due January 6
---------------------------------------------------
The creditors of P-CAP Fund SPC are required to file their proofs
of debt by January 6, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on November 22, 2010.

The company's liquidator is:

         Avalon Management Limited
         Reference: GL
         Telephone: (+1) 345 769 4422
         Facsimile:   (+1) 345 769 9351
         Landmark Square
         1st Floor, 64 Earth Close, West Bay Beach
         PO Box 715, George Town
         Grand Cayman KY1-1107
         Cayman Islands


POSCO AUSTRALIA: Creditors' Proofs of Debt Due January 6
--------------------------------------------------------
The creditors of Posco Australia (Cayman) GP Limited are required
to file their proofs of debt by January 6, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on November 18,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


RENEWABLE ENERGY: Creditors' Proofs of Debt Due December 29
-----------------------------------------------------------
The creditors of Renewable Energy and Environment Fund are
required to file their proofs of debt by December 29, 2010, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on November 18, 2010.

The company's liquidator is:

         Tan Beng Ling
         Suite E-13A-14, Block E,
         Plaza Mont' Kiara,
         2 Jalan Kiara, Mont' Kiara
         50480 Kuala Lumpur, Malaysia
         Telephone: +603 6203 3888
         Facsimile: +603 6201 2118


RIPPLEWOOD NIPPON: Creditors' Proofs of Debt Due January 6
----------------------------------------------------------
The creditors of Ripplewood Nippon Columbia Holdings Ltd. are
required to file their proofs of debt by January 6, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on November 17,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


SCIVEST NET: Creditors' Proofs of Debt Due January 6
----------------------------------------------------
The creditors of Scivest Net Short Master Fund are required to
file their proofs of debt by January 6, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on October 29, 2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


SL IBIS: Creditors' Proofs of Debt Due January 6
------------------------------------------------
The creditors of SL Ibis Limited are required to file their proofs
of debt by January 6, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on November 15,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street
         George Town, Grand Cayman KY1-9005
         Cayman Islands


SMITH BREEDEN: Creditors' Proofs of Debt Due January 6
------------------------------------------------------
The creditors of Smith Breeden Credit Master Ltd. are required to
file their proofs of debt by January 6, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on November 16,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9005, Cayman Islands


TDAM NORTH: Creditors' Proofs of Debt Due January 6
---------------------------------------------------
The creditors of TDAM North American Equity Pairs Fund, Ltd. are
required to file their proofs of debt by January 6, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on November 18,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9004, Cayman Islands


TDAM NORTH: Creditors' Proofs of Debt Due January 6
---------------------------------------------------
The creditors of TDAM North American Equity Pairs Master Fund,
Ltd. are required to file their proofs of debt by January 6, 2011,
to be included in the company's dividend distribution.

The company commenced liquidation proceedings on November 18,
2010.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Anthony Johnson
         Telephone: (345) 914-6314
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9004, Cayman Islands


WIOSNA LIMITED: Creditors' Proofs of Debt Due January 4
-------------------------------------------------------
The creditors of Wiosna Limited are required to file their proofs
of debt by January 4, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on November 22, 2010.

The company's liquidator is:

         Gustavo Compagnoni
         Ruta 8, km 17,500, Edificio @2,
         piso 4, 91600 Montevideo
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949-0880
         Facsimile: (345) 949-0881
         P.O. Box 847, George Town,
         Grand Cayman KY1-1103


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


MAXCOM SAB: Moody's Junks Corporate Family Rating from 'B3'
-----------------------------------------------------------
Moody's Investors Service downgraded Maxcom, S.A.B. de C.V.'s
corporate family and senior unsecured debt ratings to Caa1 from
B3.  The ratings outlook is negative.

These ratings were affected:

  -- Maxcom, S.A.B. de C.V. Corporate Family Rating: downgraded to
     Caa1 from B3

  -- 11% US$200 million of Senior Global Notes due 2014:
     downgraded to Caa1 from B3

                        Ratings Rationale

The ratings downgrade was prompted by Maxcom's continued weak
operating performance due to adverse economic conditions in its
target markets as well as an intensifying competitive environment.
"Flat to negative revenue growth; below-target margins; and
negative free cash have prevented Maxcom from keeping up with
historical levels of capex or building cash, which impacts the
company's credit profile", said Nymia Almeida, Vice President-
Senior Analyst at Moody's.

The company's business risk has increased over the last year.
Because Maxcom serves primarily the lower social classes in
certain geographies of Mexico, the economic crisis in 2009, which
saw GDP fall by 6.5%, dramatically hampered its earnings capacity.
And, so far in 2010, despite an expected GDP growth of 4.5%,
Maxcom has not been able to regain operating momentum due mostly
to strong competitive pressures emanating from the incumbent
operator Telmex as well as a number of smaller but strengthened
cable TV companies.  Moody's does not expect this competitive
environment to change significantly in the short to medium term.

The negative outlook on Maxcom's ratings is based on the lack of a
clear business strategy to deal with the difficult operating
environment and restore its credit quality.  In addition, the
negative outlook incorporates the fact that Maxcom's liquidity
situation is currently dependent on reduced levels of capex of
about 50% (from US$60 million in 2010 to US$30 million expected
for 2001, as per management's guidance).  This reduced level of
capex is a significant source of risk for a small operator as
Maxcom, since it could impair its competitive position and its
ability to grow and generate cash, particularly considering the
company's high churn rate of around 3% monthly.

Further ratings downgrade would be likely if weak revenues and
EBITDA push Maxcom's cash balance to below US$20 million.

An ratings upgrade is unlikely at the moment but would be
considered if Maxcom's revenues were to return to a growth mode on
a sustained basis and its EBIT to interest coverage ratio reached
a minimum of 1.5 time.

The last rating action on Maxcom was on October 23, 2008 when
Moody's affirmed the company's ratings and changed the outlook to
stable from positive.

Maxcom, with headquarters in Mexico City, is a competitive local
telephone company providing bundled products including voice, data
Internet services and pay TV mostly to social classes C and D
located in select regions of Mexico.  During the last twelve
months ending on September 30, 2010, Maxcom posted revenues of
approximately US$205 million with a 25% adjusted EBITDA margin.


MEXICANA AIRLINE: Misses Mid-December Target to Fly Again
---------------------------------------------------------
Paul Kiernan at Dow Jones Newswires reports that Compania Mexicana
de Aviacion or Mexicana Airlines has missed a mid-December target
to return to the skies, calling its future into question as rival
Aeromexico prepares for a new role as the country's lone flagship
carrier.

Communications and Transport Minister Juan Molinar declined last
week to give a date for Mexicana to resume operations, saying
"this is relatively uncertain and depends on the bankruptcy
process," according to Dow Jones Newswires.

The report notes that government officials as well as PC Capital,
the private-equity firm leading Mexicana's restructuring, had
aimed for the airline to resume operations early enough to
capitalize on the holiday-travel season.   Dow Jones Newswires
relates that the target for a much-reduced Mexicana to fly again
is now late January.

As reported in the Troubled Company Reporter-Latin America on
December 13, 2010, Fox News said that unnamed sources said that
Compania Mexicana de Aviacion or Mexicana Airlines' pilots, flight
attendants and ground crew agreed to a new labor contract that
could allow the bankrupt airline to resume operations in the
second half of January 2011.  Fox News noted that in November,
Mexican investment group PC Capital was named as potential new
owner of the airline.

Aeromexico, meanwhile, is positioning itself to fill a space that
for decades had been occupied by two competing airline companies,
Dow Jones Newswires says.

The report relates that it succeeded modifying its collective
bargaining agreement with pilots, ensuring productivity gains and
allowing for an ambitious growth program under which Aeromexico
will add "at least" 25 planes to its fleet in coming months and
invest around US$1 billion.

                     About Mexicana Airline

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

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

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

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

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


========================
T U R K S  & C A I C O S
========================


OLINT CORP: Lawyers Want David Smith's U.S. Trial Pushed Back
-------------------------------------------------------------
RadioJamaica reports that defense lawyers for David Smith, former
boss of Olint Corporation Limited, have requested that his trial
be put back from the January date that was previously agreed.

A Carib World News report said that the businessman's attorney,
Oliver Smith, filed a motion in the U.S. District Court in Florida
earlier this week, for an April trial instead of a January 3, 2010
trial, according to RadioJamaica.

Oliver Smith, RadioJamaica notes, claims he needs more time to
look over the 46,000 pages of documents his side must go through
for the trial.  The report relates that Mr. Smith also cited the
complexity of the case and the need for investigation and the
possibility of retaining experts as well as conflicting dates in
asking for the trial to be postponed further into 2011.

Oliver Smith also claims that the prosecution has agreed to the
date change based on his conversation with the District Attorney's
office and now wants the court to grant them the motion
"unopposed," RadioJamaica adds.

                          About Olint Corp

Olint Corporation Limited was an investment club owned by David
Smith.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 31, 2010, RadioJamaica said United States authorities seek
to extradite Mr. Smith from Turks and Caicos Islands for his
involvement in financial fraud cases.  The Jamaica Gleaner said
that Mr. Smith was indicted on 23 charges in the United States.
The report related that the indictment handed down in the U.S.
District Court for the Middle District of Florida, Orlando
Division, charged Mr. Smith with four counts of wire fraud, one
count of conspiracy to commit money laundering and 18 counts of
money laundering to conceal specified unlawful activity.


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


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                            Total
                                      Total          Shareholders
                                      Assets               Equity
Company               Ticker          (US$MM)              (US$MM)
-------               ------         ------------          -------

ARGENTINA

COMEC AR        COMERCIAL PL-C/E        138884129       -253031947
COMEB AR        COMERCIAL PLA-BL        138884129       -253031947
SCPDS LI        COMERCIAL PL-ADR        138884129       -253031947
CVVIF US        SOC COMERCIAL PL        138884129       -253031947
SCDPF US        SOC COMERCIAL PL        138884129       -253031947
COMED AR        COMERCIAL PLAT-$        138884129       -253031947
CAD IX          SOC COMERCIAL PL        138884129       -253031947
CADN SW         SOC COMERCIAL PL        138884129       -253031947
CADN EO         SOC COMERCIAL PL        138884129       -253031947
SNIA5 AR        SNIAFA SA-B              11229696      -2670544.88
SNIA AR         SNIAFA SA                11229696      -2670544.88
SDAGF US        SNIAFA SA-B              11229696      -2670544.88


BERMUDA

AGEN11 BZ       AGRENCO LTD-BDR         542862484       -297848371
AGRE LX         AGRENCO LTD             542862484       -297848371
MILK11 BZ       LAEP-BDR                432349610       -161351898
LEAP LX         LAEP INVESTMENTS        432349610       -161351898


BRAZIL


VARGPN BZ       VARIG SA-PREF           966298026      -4695211316
VARGON BZ       VARIG SA                966298026      -4695211316
VAGV3 BZ        VARIG SA                966298026      -4695211316
VAGV4 BZ        VARIG SA-PREF           966298026      -4695211316
MRLM3 BZ        CIA PETROLIFERA         377602195      -3014291.72
1CPMON BZ       CIA PETROLIFERA         377602195      -3014291.72
MRLM4 BZ        CIA PETROLIF-PRF        377602195      -3014291.72
MRLM3B BZ       CIA PETROLIFERA         377602195      -3014291.72
1CPMPN BZ       CIA PETROLIF-PRF        377602195      -3014291.72
MRLM4B BZ       CIA PETROLIF-PRF        377602195      -3014291.72
BOBR2 BZ        BOMBRIL-RGTS PRE        316331265       -123554206
BOBR1 BZ        BOMBRIL-RIGHTS          316331265       -123554206
BOBR4 BZ        BOMBRIL-PREF            316331265       -123554206
BMBBY US        BOMBRIL SA-ADR          316331265       -123554206
BOBR3 BZ        BOMBRIL                 316331265       -123554206
BMBPY US        BOMBRIL SA-ADR          316331265       -123554206
BOBRPN BZ       BOMBRIL CIRIO-PF        316331265       -123554206
BOBRON BZ       BOMBRIL CIRIO SA        316331265       -123554206
BMBBF US        BOMBRIL                 316331265       -123554206
RCT4B AR        TELEBRAS-CEDE BL        262220712      -16698444.2
TELB4 AR        TELEBRAS-CEDE PF        262220712      -16698444.2
TEL4C AR        TELEBRAS-CED C/E        262220712      -16698444.2
RCTB31 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
RCTB30 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
TLBRON BZ       TELEBRAS SA             262220712      -16698444.2
TLBRUO BZ       TELEBRAS-RECEIPT        262220712      -16698444.2
TELE31 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
TBASY US        TELEBRAS-ADR            262220712      -16698444.2
RCTB40 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TELB3 BZ        TELEBRAS SA             262220712      -16698444.2
TBH-W US        TELEBRAS/W-I-ADR        262220712      -16698444.2
TELB10 BZ       TELEBRAS-RCT PRF        262220712      -16698444.2
TCLP1 BZ        TELEBRAS-RTS CMN        262220712      -16698444.2
TBAPF US        TELEBRAS-PF RCPT        262220712      -16698444.2
RCTB41 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
CBRZF US        TELEBRAS-PF RCPT        262220712      -16698444.2
TLBRPN BZ       TELEBRAS SA-PREF        262220712      -16698444.2
RCT4C AR        TELEBRAS-CED C/E        262220712      -16698444.2
81370Z BZ       TELECOMUNICA-ADR        262220712      -16698444.2
TELB30 BZ       TELEBRAS-BLOCK          262220712      -16698444.2
RCTB33 BZ       TELEBRAS-RCT            262220712      -16698444.2
TBRAY GR        TELEBRAS-ADR            262220712      -16698444.2
TELB9 BZ        TELEBRAS SA-RT          262220712      -16698444.2
TLCP2 BZ        TELEBRAS-RTS PRF        262220712      -16698444.2
TEL4D AR        TELEBRAS-CEDEA $        262220712      -16698444.2
TELE41 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TBAPY US        TELEBRAS-ADR            262220712      -16698444.2
TELB4 BZ        TELEBRAS SA-PREF        262220712      -16698444.2
TBASF US        TELEBRAS SA             262220712      -16698444.2
RTB US          TELEBRAS-ADR            262220712      -16698444.2
RCTB42 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
RCTB1 BZ        TELEBRAS-RTS CMN        262220712      -16698444.2
RCTB2 BZ        TELEBRAS-RTS PRF        262220712      -16698444.2
RCT4D AR        TELEBRAS-CEDEA $        262220712      -16698444.2
TBRTF US        TELEBRAS-CM RCPT        262220712      -16698444.2
RCTB32 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
TBH US          TELEBRAS-ADR            262220712      -16698444.2
RCTB4 AR        TELEBRAS-CEDE PF        262220712      -16698444.2
TBX GR          TELEBRAS-ADR            262220712      -16698444.2
TLBRUP BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TELB1 BZ        TELEBRAS-COM RT         262220712      -16698444.2
TELB40 BZ       TELEBRAS-PF BLCK        262220712      -16698444.2
HOOT4 BZ        HOTEIS OTHON-PRF        255036150      -42606769.7
HOTHPN BZ       HOTEIS OTHON-PRF        255036150      -42606769.7
HOTHON BZ       HOTEIS OTHON SA         255036150      -42606769.7
HOOT3 BZ        HOTEIS OTHON SA         255036150      -42606769.7
TKTPY US        TEKA-ADR                246866965       -392777063
TEKA4 BZ        TEKA-PREF               246866965       -392777063
TEKAON BZ       TEKA                    246866965       -392777063
TKTQF US        TEKA                    246866965       -392777063
TKTPF US        TEKA-PREF               246866965       -392777063
TEKA3 BZ        TEKA                    246866965       -392777063
TKTQY US        TEKA-ADR                246866965       -392777063
TEKAY US        TEKA-ADR                246866965       -392777063
TEKAPN BZ       TEKA-PREF               246866965       -392777063
SNSYAN BZ       SANSUY SA-PREF A        172563384      -94849032.9
SNSYBN BZ       SANSUY SA-PREF B        172563384      -94849032.9
SNSY6 BZ        SANSUY-PREF B           172563384      -94849032.9
SNSYON BZ       SANSUY SA               172563384      -94849032.9
SNSY5 BZ        SANSUY-PREF A           172563384      -94849032.9
SNSY3 BZ        SANSUY                  172563384      -94849032.9
BLDR3 BZ        BALADARE                159454016      -52992212.8
RPMG10 BZ       PET MANG-RECEIPT        140673541       -164925695
MANGPN BZ       PETRO MANGUIN-PF        140673541       -164925695
4115360Q BZ     PET MANG-RT             140673541       -164925695
RPMG9 BZ        PET MANG-RECEIPT        140673541       -164925695
RPMG4 BZ        PET MANGUINH-PRF        140673541       -164925695
3678565Q BZ     PET MANG-RIGHTS         140673541       -164925695
MANGON BZ       PETRO MANGUINHOS        140673541       -164925695
3678569Q BZ     PET MANG-RIGHTS         140673541       -164925695
RPMG1 BZ        PET MANG-RT             140673541       -164925695
4115364Q BZ     PET MANG-RT             140673541       -164925695
RPMG2 BZ        PET MANG-RT             140673541       -164925695
RPMG3 BZ        PETRO MANGUINHOS        140673541       -164925695
IMBI1 BZ        DOC IMBITUBA-RTC         96977064      -42592602.5
IMBI2 BZ        DOC IMBITUBA-RTP         96977064      -42592602.5
IMBIPN BZ       DOCAS IMBITUB-PR         96977064      -42592602.5
IMBI4 BZ        DOC IMBITUB-PREF         96977064      -42592602.5
IMBION BZ       DOCAS IMBITUBA           96977064      -42592602.5
IMBI3 BZ        DOC IMBITUBA             96977064      -42592602.5
VPSC3 BZ        VARIG PART EM SE         96617351       -460274609
VPSC4 BZ        VARIG PART EM-PR         96617351       -460274609
FTRX1 BZ        FABRICA TECID-RT         63865882      -73255215.1
FTRX4 BZ        FABRICA RENAUX-P         63865882      -73255215.1
FRNXPN BZ       FABRICA RENAUX-P         63865882      -73255215.1
FTRX3 BZ        FABRICA RENAUX           63865882      -73255215.1
FRNXON BZ       FABRICA RENAUX           63865882      -73255215.1
TXRX9 BZ        TEXTEIS RENA-RCT         63668805      -94477605.8
TXRX3 BZ        RENAUXVIEW SA            63668805      -94477605.8
TXRX10 BZ       TEXTEIS RENA-RCT         63668805      -94477605.8
TXRX2 BZ        TEXTEIS RENAU-RT         63668805      -94477605.8
RENXPN BZ       TEXTEIS RENAUX           63668805      -94477605.8
TXRX1 BZ        TEXTEIS RENAU-RT         63668805      -94477605.8
TXRX4 BZ        RENAUXVIEW SA-PF         63668805      -94477605.8
RENXON BZ       TEXTEIS RENAUX           63668805      -94477605.8
MNPRON BZ       MINUPAR SA               63144534      -60655823.4
MNPR9 BZ        MINUPAR-RCT              63144534      -60655823.4
MNPR3 BZ        MINUPAR                  63144534      -60655823.4
MNPR4 BZ        MINUPAR-PREF             63144534      -60655823.4
MNPRPN BZ       MINUPAR SA-PREF          63144534      -60655823.4
MNPR1 BZ        MINUPAR-RT               63144534      -60655823.4
VPTA3 BZ        VARIG PART EM TR         49432124       -399290426
VPTA4 BZ        VARIG PART EM-PR         49432124       -399290426
GAFPN BZ        CIMOB PART-PREF          39881387      -41560336.9
GAFP3 BZ        CIMOB PARTIC SA          39881387      -41560336.9
GAFP4 BZ        CIMOB PART-PREF          39881387      -41560336.9
GAFON BZ        CIMOB PARTIC SA          39881387      -41560336.9
SNST3 BZ        SANESALTO                31044051      -1843297.83
STRP4 BZ        BOTUCATU-PREF            27663605      -7174512.03
STRP3 BZ        BOTUCATU TEXTIL          27663605      -7174512.03
STARON BZ       STAROUP SA               27663605      -7174512.03
STARPN BZ       STAROUP SA-PREF          27663605      -7174512.03
COBE6 BZ        CONST BETER-PF B         25469474      -4918662.56
1008Q BZ        CONST BETER-PR A         25469474      -4918662.56
1COBON BZ       CONST BETER SA           25469474      -4918662.56
COBEAN BZ       CONST BETER-PR A         25469474      -4918662.56
1COBAN BZ       CONST BETER-PF A         25469474      -4918662.56
COBE5 BZ        CONST BETER-PF A         25469474      -4918662.56
COBE3 BZ        CONST BETER SA           25469474      -4918662.56
1007Q BZ        CONST BETER SA           25469474      -4918662.56
COBEON BZ       CONST BETER SA           25469474      -4918662.56
1009Q BZ        CONST BETER-PR B         25469474      -4918662.56
COBE3B BZ       CONST BETER SA           25469474      -4918662.56
1COBBN BZ       CONST BETER-PF B         25469474      -4918662.56
COBEBN BZ       CONST BETER-PR B         25469474      -4918662.56
STLB9 BZ        STEEL - RCT ORD          22548846       -4346785.7
STLB1 BZ        STEEL - RT               22548846       -4346785.7
STLB3 BZ        STEEL DO BRASIL          22548846       -4346785.7
CCHPN BZ        CHIARELLI SA-PRF         22274027      -44537138.2
CCHON BZ        CHIARELLI SA             22274027      -44537138.2
CCHI4 BZ        CHIARELLI SA-PRF         22274027      -44537138.2
CCHI3 BZ        CHIARELLI SA             22274027      -44537138.2
HAGAON BZ       FERRAGENS HAGA           21299043      -62858771.3
HAGA3 BZ        HAGA                     21299043      -62858771.3
HAGAPN BZ       FERRAGENS HAGA-P         21299043      -62858771.3
HAGA4 BZ        FER HAGA-PREF            21299043      -62858771.3
CAFE3 BZ        CAF BRASILIA             21097370       -903951461
CAFE4 BZ        CAF BRASILIA-PRF         21097370       -903951461
CSBRON BZ       CAFE BRASILIA SA         21097370       -903951461
CSBRPN BZ       CAFE BRASILIA-PR         21097370       -903951461
SJOS3 BZ        TECEL S JOSE             19067322      -52580501.1
SJOS4 BZ        TECEL S JOSE-PRF         19067322      -52580501.1
FTSJON BZ       TECEL S JOSE             19067322      -52580501.1
FTSJPN BZ       TECEL S JOSE-PRF         19067322      -52580501.1
NORD1 BZ        NORDON MET-RTS           16108143      -22352940.6
NORD3 BZ        NORDON MET               16108143      -22352940.6
NORDON BZ       NORDON METAL             16108143      -22352940.6
UNCI3 BZ        UNI CIDADE               15460621      -5200646.59
PRMN3 BZ        PROMAN                   12878932      -38408.0181
PRMN3B BZ       PROMAN                   12878932      -38408.0181
GAZO10 BZ       GAZOLA-RCPT PREF         12452143      -40298506.3
GAZO11 BZ       GAZOLA SA-DVD CM         12452143      -40298506.3
GAZO9 BZ        GAZOLA-RCPTS CMN         12452143      -40298506.3
GAZO4 BZ        GAZOLA-PREF              12452143      -40298506.3
GAZO12 BZ       GAZOLA SA-DVD PF         12452143      -40298506.3
GAZO3 BZ        GAZOLA                   12452143      -40298506.3
GAZON BZ        GAZOLA SA                12452143      -40298506.3
GAZPN BZ        GAZOLA SA-PREF           12452143      -40298506.3
ARLA10 BZ       ARTHUR LANG-RC P         11642256      -17154461.9
ARLA9 BZ        ARTHUR LANG-RC C         11642256      -17154461.9
ALICON BZ       ARTHUR LANGE SA          11642256      -17154461.9
ARLA12 BZ       ARTHUR LAN-DVD P         11642256      -17154461.9
ARLA3 BZ        ARTHUR LANGE             11642256      -17154461.9
ARLA4 BZ        ARTHUR LANGE-PRF         11642256      -17154461.9
ARLA1 BZ        ARTHUR LANG-RT C         11642256      -17154461.9
ARLA2 BZ        ARTHUR LANG-RT P         11642256      -17154461.9
ALICPN BZ       ARTHUR LANGE-PRF         11642256      -17154461.9
ARLA11 BZ       ARTHUR LAN-DVD C         11642256      -17154461.9
FGUI4 BZ        F GUIMARAES-PREF         11016542       -151840377
FGUION BZ       FERREIRA GUIMARA         11016542       -151840377
FGUIPN BZ       FERREIRA GUIM-PR         11016542       -151840377
FGUI3 BZ        F GUIMARAES              11016542       -151840377


CHILE


CHISATOS CI     CHILESAT CO-RTS         953784479       -103476159
CSAOY US        TELMEX CORP-ADR         953784479       -103476159
TELEXA CI       TELEX-A                 953784479       -103476159
TELEXO CI       TELEX-RTS               953784479       -103476159
TELEX CI        CHILESAT CORP SA        953784479       -103476159
CHILESAT CI     TELMEX CORP SA          953784479       -103476159
TL US           CHILESAT CO-ADR         953784479       -103476159


URUGUAY

IMPTD AR        IMPSAT FIBER-$US        535007008        -17165000
IMPTC AR        IMPSAT FIBER-C/E        535007008        -17165000
IMPT AR         IMPSAT FIBER-CED        535007008        -17165000
330902Q GR      IMPSAT FIBER NET        535007008        -17165000
XIMPT SM        IMPSAT FIBER NET        535007008        -17165000
IMPTQ US        IMPSAT FIBER NET        535007008        -17165000
IMPTB AR        IMPSAT FIBER-BLK        535007008        -17165000



                            ***********

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


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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.



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