TCRLA_Public/110111.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, January 11, 2011, Vol. 12, No. 7

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Judge Orders Owner to Get Drug Treatment


A R G E N T I N A

AGROINDUSTRIA MADERO: Applies Reorganization Proceedings
ALTNER SRL: Creditors' Proofs of Debt Due March 1
ARRATE SA: Creditors' Proofs of Debt Due June 1
BARIKLO SA: Applies for Reorganization Proceedings
DOCES SA: Creditors' Proofs of Debt Due April 1

GARBS SRL: Creditors' Proofs of Debt Due March 11
INDUSERV SA: Creditors' Proofs of Debt Due March 11
LEMAX LABORATORIOS: Applies for Reorganization
PROTENAR SA: Asks for Bankruptcy Proceedings


B E R M U D A

AKAI HOLDINGS: To Declare Second Dividend
CHOICE ALTERNATIVE: Court to Hear Wind-Up Petition on January 14
COLUMBIA EQUITY: Creditors' Proofs of Debt Due January 21
COLUMBIA EQUITY: Members' Final Meeting Set for January 28
MASTER MULTI-PRODUCT: Placed Under Voluntary Wind-Up

MASTER MULTI-PRODUCT: Members' Final Meeting Set for January 25
RSL COMMUNICATIONS: To Declare and Pay Third Interim
SEA BLUE: Placed Under Voluntary Wind-Up
SEA BLUE: Members' Final Meeting Set for January 27
SOLIMAR HOLDINGS: Placed Under Voluntary Wind-Up

SOLIMAR HOLDINGS: Member to Receive Wind-Up Report on January 26


C A Y M A N  I S L A N D S

AMINVEST LTD: Shareholder Receives Wind-Up Report
BIGHORN LIMITED: Shareholders' Final Meeting Set for January 11
BIRKENSTEIN LIMITED: Shareholders' Final Meeting Set for Jan. 11
CHRISTOS LIMITED: Shareholders Receive Wind-Up Report
CLASI FINANCE: Shareholders' Final Meeting Set for January 11

EASIX FINANCE: Shareholders Receive Wind-Up Report
EATON VANCE: Shareholders Receive Wind-Up Report
FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report
FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report
FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report

FORWARD VALUE: Shareholders Receive Wind-Up Report
IRIS INVESTMENTS: Shareholders Receive Wind-Up Report
JMCC CAYMAN: Shareholders' Final Meeting Set for January 12
LDVF1 MAY: Shareholders Receive Wind-Up Report
LDVF1 SECB: Shareholders Receive Wind-Up Report

MILLSTONE FUNDING: Shareholders Receive Wind-Up Report
ML CBO: Shareholders' Final Meeting Set for January 11
NORTH COVE: Shareholders' Final Meeting Set for January 14
OPTIMAL ASIAN: Shareholders Receive Wind-Up Report
PA INTERNATIONAL: Shareholders' Final Meeting Set for January 12

PADDINGTON RAILCARS: Shareholders Receive Wind-Up Report
PUTNAM TOTAL: Shareholders Receive Wind-Up Report
RAFFLES PLACE: Shareholders Receive Wind-Up Report
RAFFLES PLACE: Shareholders Receive Wind-Up Report
SKI ITW: Shareholders Receive Wind-Up Report

SPIRIT CREDIT: Shareholder Receives Wind-Up Report
TABS 2005-3: Shareholders' Final Meeting Set for January 11
TANDEM FUNDING: Shareholders Receive Wind-Up Report
TRICO MARINE: PACC Cancels "Mystic" MOA, Seeks Release of Escrow
WAKABAYASHI GLOBAL: Shareholders Receive Wind-Up Report

WB LOAN: Shareholders' Final Meeting Set for January 11


J A M A I C A

SUGAR COMPANY: Opposition Wants Debate on Divestment of Factories


V I R G I N  I S L A N D S

BRITISH AMERICAN: U.S. Court Recognizes BVI Liquidation Proceeding


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                            - - - - -


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


STANFORD INT'L: Judge Orders Owner to Get Drug Treatment
--------------------------------------------------------
L.M. Sixel at Houston Chronicle reports that U.S. District Judge
David Hittner ruled that Stanford International Bank Limited
owner, Robert Allen Stanford, cannot be tried until he undergoes
detoxification from addictions to medications he's received in
jail.  The report relates that Mr. Stanford's trial, which was
scheduled on January 24, 2011, is delayed indefinitely.

As reported in the Troubled Company Reporter-Latin America on
January 10, 2011, Houston Chronicle said that a psychiatrist told
Judge Hittner that Mr. Stanford takes heavy doses of anti-anxiety
and anti-depressant drugs that render him incompetent to stand
trial on charges of running a US$7 billion Ponzi scheme.  "[Mr.
Stanford] is unable to work effectively and rationally with his
attorneys in his defense against the charges," Dr. Victor
Scarano said in a hearing before Judge Hittner, the report
relates.  Houston Chronicle disclosed that Dr. Scarano testified
that for a year, Mr. Stanford has been taking anti-anxiety
medicine that causes him to suffer drowsiness, lack of energy and
inability to focus on tasks.  The report related that Dr. Scarano
estimated that it would take three to six months to wean Stanford
off the anti-anxiety medication completely, including an initial
two to four weeks in an in-patient medical facility.  At that
point, said Dr. Scarano, he'd have a better idea of Stanford's
mental competency, Houston Chronicle added.

Houston Chronicle notes that Judge Hittner ordered lawyers to file
motions by January 12, 2011, on whether Mr. Stanford should be
released for detoxification in a private Houston facility.  He has
been in federal custody without bail as a flight risk since he was
indicted in June 2009, the report relates.

Ali Fazel, one of Mr. Stanford's lawyers, told the judge that Mr.
Stanford's parents have offered to put up all their property as
security and that Stanford could wear an ankle monitor while in
detox and then move into an apartment while working with his
lawyers on his case, Houston Chronicle discloses.  Government
lawyers recommended that Judge Hittner send Mr. Stanford to an
out-of-state specialized prison hospital that has experience with
drug addiction, the report 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
=================


AGROINDUSTRIA MADERO: Applies Reorganization Proceedings
--------------------------------------------------------
Agroindustria Madero SA applied for reorganization proceedings.
The company defaulted payments last November 30.


ALTNER SRL: Creditors' Proofs of Debt Due March 1
-------------------------------------------------
Isabel Eugenia De Francesco, the court-appointed trustee for
Altner SRL's bankruptcy proceedings, will be verifying creditors'
proofs of claim until March 1, 2011.

Ms. De Francesco will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 17 in Buenos Aires, with the assistance of Clerk
No. 34, 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:

         Isabel Eugenia De Francesco
         Uruguay 660


ARRATE SA: Creditors' Proofs of Debt Due June 1
-----------------------------------------------
The court-appointed trustee for Arrate S.A.'s bankruptcy
proceedings will be verifying creditors' proofs of claim until
June 1, 2011.

The trustee will present the validated claims in court as
individual reports on July 14, 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
September 12, 2011.


BARIKLO SA: Applies for Reorganization Proceedings
--------------------------------------------------
Bariklo SA applied for reorganization proceedings.  The company
stopped making its payments.


DOCES SA: Creditors' Proofs of Debt Due April 1
-----------------------------------------------
Beatriz del Carmen Muruaga, the court-appointed trustee for Doces
SA's reorganization proceedings, will be verifying creditors'
proofs of claim until April 1, 2011.

Ms. Muruaga will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 1, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Beatriz del Carmen Muruaga
         Aguero 1290
         Argentina


GARBS SRL: Creditors' Proofs of Debt Due March 11
-------------------------------------------------
Ernesto Higueras, the court-appointed trustee for Garbs SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until March 11, 2011.

Mr. Higueras will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 8 in Buenos Aires, with the assistance of Clerk
No. 16, 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:

         Ernesto Higueras
         Sanchez de Loria 1944
         Argentina


INDUSERV SA: Creditors' Proofs of Debt Due March 11
---------------------------------------------------
Sonia Luisa Scotti, the court-appointed trustee for Induserv SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until March 11, 2011.

Ms. Scotti will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 20 in Buenos Aires, with the assistance of Clerk
No. 39, 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:

         Sonia Luisa Scotti
         Bartolome Mitre 3419
         Argentina


LEMAX LABORATORIOS: Applies for Reorganization
----------------------------------------------
Lemax Laboratorios SRL applied for reorganization.  The company
stopped making payments last May 24.


PROTENAR SA: Asks for Bankruptcy Proceedings
--------------------------------------------
Protenar SA asked for bankruptcy proceedings.  The company stopped
making payments last June 15.


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


AKAI HOLDINGS: To Declare Second Dividend
-----------------------------------------
Akai Holdings Limited will declare a second dividend.

Only creditors who will be able to file their proofs of debt by
January 10, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         Cosimo Borrelli
         G Jacqueline Fangonil Walsh
         Borrelli Walsh Limited
         Admiralty Centre
         Level 17, Tower 1
         18 Harcourt Road
         Hong Kong


CHOICE ALTERNATIVE: Court to Hear Wind-Up Petition on January 14
----------------------------------------------------------------
A petition to wind up the operations of Choice Alternative
Investments, Ltd. will be heard before the Supreme Court of
Bermuda on January 14, 2011, at 9:30 a.m.

The petition was filed by the Registrar of Companies on
December 15, 2010.

Mark Smith and Rachelle Frisby of Deloitte are the company's
provisional liquidators.


COLUMBIA EQUITY: Creditors' Proofs of Debt Due January 21
---------------------------------------------------------
The creditors of Columbia Equity SPV Limited are required to file
their proofs of debt by January 21, 2011, to be included in the
company's dividend distribution.

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

The company's liquidator is:

         Nicholas Hoskins
         Victoria Place, 31 Victoria Street
         Hamilton HM 10
         Bermuda


COLUMBIA EQUITY: Members' Final Meeting Set for January 28
----------------------------------------------------------
The members of Columbia Equity SPV Limited will hold their final
meeting on January 28, 2011, 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:

         Nicholas Hoskins
         Victoria Place, 31 Victoria Street
         Hamilton HM 10
         Bermuda


MASTER MULTI-PRODUCT: Placed Under Voluntary Wind-Up
----------------------------------------------------
On December 16, 2010, the members of Master Multi-Product Holdings
G Ltd resolved to voluntarily wind up the company's operations.

Only creditors who will be able to file their proofs of debt by
January 5, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


MASTER MULTI-PRODUCT: Members' Final Meeting Set for January 25
---------------------------------------------------------------
The members of Master Multi-Product Holdings G Ltd will hold their
final meeting on January 25, 2011, 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:

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


RSL COMMUNICATIONS: To Declare and Pay Third Interim
----------------------------------------------------
RSL Communications, Ltd. will declare and pay a third interim
dividend of 0.9% in January 2011.

Creditors are required to file their proofs of debt by January 21,
2011, to be included in the company's dividend distribution.

The company's liquidator is:

         Nigel Chatterjee
         c/o PricewaterhouseCoopers Advisory Limited
         Dorchester House, 7 Church Street
         Hamilton HM 11
         Bermuda
         e-mail: nigel.chatterjee@bm.pwc.com
         Facsimile: to +1 441 295 1242


SEA BLUE: Placed Under Voluntary Wind-Up
----------------------------------------
On December 20, 2010, the members of Sea Blue (Bermuda) Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who will be able to file their proofs of debt by
January 5, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


SEA BLUE: Members' Final Meeting Set for January 27
---------------------------------------------------
The members of Sea Blue (Bermuda) Ltd. will hold their final
meeting on January 27, 2011, 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:

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


SOLIMAR HOLDINGS: Placed Under Voluntary Wind-Up
------------------------------------------------
On December 23, 2010, the members of Solimar Holdings Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who will be able to file their proofs of debt by
January 7, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


SOLIMAR HOLDINGS: Member to Receive Wind-Up Report on January 26
----------------------------------------------------------------
The member of Solimar Holdings Ltd. will receive on January 26,
2011, at 9:30 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

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


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


AMINVEST LTD: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of Aminvest Ltd. received on December 29, 2010,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815-1755
         Facsimile: (345) 949-9877


BIGHORN LIMITED: Shareholders' Final Meeting Set for January 11
---------------------------------------------------------------
The shareholders of Bighorn Limited will hold their final meeting
on January 11, 2011, 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:

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


BIRKENSTEIN LIMITED: Shareholders' Final Meeting Set for Jan. 11
----------------------------------------------------------------
The shareholders of Birkenstein Limited will hold their final
meeting on January 11, 2011, 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


CHRISTOS LIMITED: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Christos Limited received on January 10, 2011,
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


CLASI FINANCE: Shareholders' Final Meeting Set for January 11
-------------------------------------------------------------
The shareholders of Clasi Finance CI Corporation 2007-S1 will hold
their final meeting on January 11, 2011, 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


EASIX FINANCE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Easix Finance Limited received on January 10,
2011, 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


EATON VANCE: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Eaton Vance CDO VI, Ltd. received on
January 7, 2011, 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


FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Fortress Investment Fund V (Fund B) FFTLF
Limited received on January 10, 2011, 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


FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Fortress Investment Fund V (CFG) FFTLF Limited
received on January 10, 2011, 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


FORTRESS INVESTMENT: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Fortress Investment Fund V (Fund A) FFTLF
Limited received on January 10, 2011, 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


FORWARD VALUE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Forward Value Capital received on January 7,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Richard Finlay
         Telephone: (345) 945 3901
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


IRIS INVESTMENTS: Shareholders Receive Wind-Up Report
-----------------------------------------------------
The shareholders of Iris Investments 3 Limited received on
January 7, 2011, 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


JMCC CAYMAN: Shareholders' Final Meeting Set for January 12
-----------------------------------------------------------
The shareholders of JMCC Cayman will hold their final meeting on
January 12, 2011, 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:

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


LDVF1 MAY: Shareholders Receive Wind-Up Report
----------------------------------------------
The shareholders of LDVF1 May Ltd. received on January 10, 2011,
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


LDVF1 SECB: Shareholders Receive Wind-Up Report
-----------------------------------------------
The shareholders of LDVF1 SECB Ltd. received on January 10, 2011,
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


MILLSTONE FUNDING: Shareholders Receive Wind-Up Report
------------------------------------------------------
The shareholders of Millstone Funding, Ltd. received on
January 10, 2011, 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


ML CBO: Shareholders' Final Meeting Set for January 11
------------------------------------------------------
The shareholders of ML CBO XXI (Cayman) Ltd. will hold their final
meeting on January 11, 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:

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


NORTH COVE: Shareholders' Final Meeting Set for January 14
----------------------------------------------------------
The shareholders of North Cove CDO II, Ltd. will hold their final
meeting on January 14, 2011, 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:

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


OPTIMAL ASIAN: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Optimal Asian Opportunities 2XL Fund Ltd.
received on January 7, 2011, 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


PA INTERNATIONAL: Shareholders' Final Meeting Set for January 12
----------------------------------------------------------------
The shareholders of PA International Financing Limited will hold
their final meeting on January 12, 2011, at 9:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


PADDINGTON RAILCARS: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Paddington Railcars Limited received on
January 10, 2011, 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


PUTNAM TOTAL: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of Putnam Total Return Fund, Ltd. received on
December 29, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Richard Finlay
         c/o Krysten Lumsden
         Telephone: (345) 814 7366
         Facsimile: (345) 945 3902
         Krysten Lumsden
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


RAFFLES PLACE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Raffles Place II Funding, Ltd. received on
January 10, 2011, 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


RAFFLES PLACE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Raffles Place Funding, Ltd. received on
January 10, 2011, 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


SKI ITW: Shareholders Receive Wind-Up Report
--------------------------------------------
The shareholders of SKI ITW BD GP Holdings Ltd. received on
January 10, 2011, 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


SPIRIT CREDIT: Shareholder Receives Wind-Up Report
--------------------------------------------------
The shareholder of Spirit Credit Opportunities, Ltd. received on
December 29, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815-1755
         Facsimile: (345) 949-9877


TABS 2005-3: Shareholders' Final Meeting Set for January 11
-----------------------------------------------------------
The shareholders of Tabs 2005-3, Ltd. will hold their final
meeting on January 11, 2011, at 10:10 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


TANDEM FUNDING: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Tandem Funding Limited received on January 7,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


TRICO MARINE: PACC Cancels "Mystic" MOA, Seeks Release of Escrow
----------------------------------------------------------------
In a regulatory filing Monday, Trico Marine Services, Inc.,
discloses that PACC Offshore Services Holding Pte Ltd. ("Buyer"),
on January 3, 2011, sent notice to Trico Marine Assets, Inc.
("Seller"), of Buyer's intention to cancel a Memorandum of
Agreement (the "MOA") dated November 23, 2010, regarding the sale
by Seller to Buyer of the Trico Mystic (the "Vessel").  Buyer also
requested immediate release of the purchase price (the "Sale
Proceeds").

By letter dated January 6, 2010, counsel to Seller advised Buyer
of Seller's position that neither the MOA nor the related Order
entered on December 1, 2010, by the United States Bankruptcy Court
for the District of Delaware Granting Motion to Approve the Sale
of Assets Free and Clear of Liens, Claims, and Encumbrances to
Buyer (the "Order") confers upon Buyer a right to a return of the
escrowed Sale Proceeds at this time.  Seller thereby advised Buyer
that Seller is prepared to close immediately and has satisfied all
performance conditions set forth in the Agreement.  Seller
believes that any refusal to close in accordance with the Order
may be in bad faith, and Seller reserves all rights to seek any
appropriate remedy to effectuate the provisions of the Order.

Seller, however, seeks a consensual closing of the sale of the
Vessel promptly.  However, no assurance can be given whether or
when a consensual closing will be consummated.

           Proceeds from Sale of Trico Mystic Have Not
             Been Applied to Tennenbaum Obligations

Reference is made to that certain Senior Secured, Super-Priority
Debtor-in-Possession Credit Agreement dated as of August 24, 2010,
as amended by Amendment No. 1 thereto dated as of September 21,
2010, and Amendment No. 2 thereto dated as of October 1, 2010,
(the "DIP Credit Agreement"), the Company, the Guarantors party
thereto from time to time, the Lenders party thereto from time to
time and Obsidian Agency Services, Inc., as agent.

As previously disclosed, on November 29, 2010, the Company,
Seller, Trico Marine Operators, Inc., Trico Marine International,
Inc., Trico Holdco, LLC, and Trico Cayman, L.P. (collectively, the
"Debtors") and Tennenbaum Capital Partners, LLC ("Tennenbaum"),
the Lender under the DIP Credit Agreement, reached an agreement
regarding use of Cash Collateral under the DIP Credit Agreement.
The Debtors agreed to (i) comply with the budget filed with the
Bankruptcy Court on November 29, 2010, and (ii) use a portion of
proceeds from the sale of the Trico Mystic and Trico Moon, as
disclosed in the budget and along with proceeds from other asset
sales, to reduce its obligations to Tennenbaum.  Tennenbaum, in
return, agreed to consent to the use of its Cash Collateral.  The
Bankruptcy Court approved this agreement at the hearing on
November 29, 2010, and the sale of the Trico Moon closed on
December 10, 2010.

As a result of the failure to timely close the sale of the Trico
Mystic, the Sales Proceeds have, to date, not been applied to,
among other things, reduce the Debtors' obligations to Tennenbaum
as disclosed in the budget.

                       About Trico Marine

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

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

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

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


WAKABAYASHI GLOBAL: Shareholders Receive Wind-Up Report
-------------------------------------------------------
The shareholders of Wakabayashi Global Value Fund received on
December 30, 2010, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         Atsuyuki Uenaka
         Victor Murray
         Maples Finance Limited
         PO Box 1093
         4th Floor Boundary Hall, Cricket Square
         George Town, Grand Cayman KY1-1102
         Cayman Islands
         Telephone: 1 345 814 5722


WB LOAN: Shareholders' Final Meeting Set for January 11
-------------------------------------------------------
The shareholders of WB Loan Funding 12, Ltd. will hold their final
meeting on January 11, 2011, at 9:50 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


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


SUGAR COMPANY: Opposition Wants Debate on Divestment of Factories
-----------------------------------------------------------------
RadioJamaica reports that the Opposition is calling for full
Parliamentary debate on the divestment of Sugar Company of
Jamaica's sugar factories.  The report relates that the call has
been made by Spokesman on Agriculture, Roger Clarke.

In a statement, Mr. Clarke said the debate has become necessary in
light of the continuing controversy surrounding the divestment
exercise, according to RadioJamaica.  Mr. Clarke, the report
notes, said that a debate will enable the country to be fully
appraised of the true situation.

RadioJamaica discloses that Mr. Clarke said there are too many
issues to be clarified and these cannot be dealt with by
statements from Government officials or through television
interviews.  The future of the sugar industry is fundamental to
the survival of farmers, workers, and the economy as a whole and
must be afforded the highest priority, he added.

                            About SCJ

The Sugar Company of Jamaica Holdings Limited, a.k.a. SCJ, was
formed in November 1993 by a consortium made up of J. Wray &
Nephew Limited, Manufacturers Investments Limited and Booker Tate
Limited.  The three companies each held 17% equity in SCJ, with
the remaining 49% being held by the government of Jamaica.  In
1998, the government became the sole shareholder of SCJ by
acquiring the interests of the members of the consortium. Its
stated goal was to maximize efficiency, productivity and
profitability of the three sugar factories, within three years.
The principal activities of the company are the cultivation of
cane and the manufacture and sale of sugar and molasses.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 22, 2009, the Jamaica Gleaner reported that Agriculture and
Fisheries Minister Christopher Tufton said that if a new deal is
not inked soon for the divestment of SCJ's factories, the public
will be called on again to plug a projected US$4.2 billion hole --
representing a US$2 billion operational loss, and bank penalties
-- apparently from continuous hefty overdrafts.  The loss was
incurred by the SCJ's four factories during the 2008/2009 season.
The Gleaner related the enterprise has a US$21-billion debt and
losses totaling more than US$14 billion since 2005.


==========================
V I R G I N  I S L A N D S
==========================


BRITISH AMERICAN: U.S. Court Recognizes BVI Liquidation Proceeding
------------------------------------------------------------------
WestLaw reports that the recognition of a corporate debtor's
liquidation proceeding in a court of the British Virgin Islands
would not so severely impinge the value and import of United
States statutory or constitutional rights that the bankruptcy
court would be unable to carry out the most fundamental policies
and purposes of such rights due to the conflict of interest on the
part of the liquidator, who had a competing fiduciary role as the
judicial manager for the debtor's parent company, which was the
debtor's largest creditor, and who, as the debtor's liquidator,
had entered into a confidentiality agreement with the parent
company that was not disclosed to the BVI court.  Therefore, the
bankruptcy court could not rely upon Chapter 15's public policy
exception to deny the liquidator's request for the recognition of
the liquidation proceeding as a foreign main proceeding.  In re
British American Isle of Venice (BVI), Ltd., --- B.R. ----, 2010
WL 5209232 (Bankr. S.D. Fla.).

A copy of the Honorable Erik P. Kimball's recognition order dated
Dec. 23, 2010, is available at http://is.gd/ksBhRfrom Leagle.com
at no charge.

Casey McDonald, the British Virgin Islands liquidator for British
American Isle of Venice (BVI), Ltd, filed a Chapter 11 petition
(Bankr. S.D. Fla. Case No. 10-21627) on April 29, 2010.  Mr.
McDonald is represented by Leyza F. Blanco, Esq., at Gray Robinson
in Miami, Fla.  At the time of the filing, the liquidator
estimated British American Isle of Venice (BVI), Ltd's asset at
less than US$10 million and its debts at more than US$100 million.
Two affiliates -- British American Insurance Company Limited
(Bankr. S.D. Fla. Case No. 09-31881) and British American
Insurance Company Limited (Bankr. S.D. Fla. Case No. 09-35888) --
are also subject to the jurisdiction of the U.S. Bankruptcy Court.


===============
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

330902Q GR     IMPSAT FIBER NET       535007008       -17165000
CAD IX         SOC COMERCIAL PL       138884129      -253031947
CADN EO        SOC COMERCIAL PL       138884129      -253031947
CADN SW        SOC COMERCIAL PL       138884129      -253031947
COME AR        SOC COMERCIAL PL       138884129      -253031947
COMEB AR       COMERCIAL PLA-BL       138884129      -253031947
COMEC AR       COMERCIAL PL-C/E       138884129      -253031947
COMED AR       COMERCIAL PLAT-$       138884129      -253031947
CVVIF US       SOC COMERCIAL PL       138884129      -253031947
IMPT AR        IMPSAT FIBER-CED       535007008       -17165000
IMPTB AR       IMPSAT FIBER-BLK       535007008       -17165000
IMPTC AR       IMPSAT FIBER-C/E       535007008       -17165000
IMPTD AR       IMPSAT FIBER-$US       535007008       -17165000
IMPTQ US       IMPSAT FIBER NET       535007008       -17165000
SCDPF US       SOC COMERCIAL PL       138884129      -253031947
SCPDS LI       COMERCIAL PL-ADR       138884129      -253031947
SDAGF US       SNIAFA SA-B             11229696     -2670544.88
SNIA AR        SNIAFA SA               11229696     -2670544.88
SNIA5 AR       SNIAFA SA-B             11229696     -2670544.88
XIMPT SM       IMPSAT FIBER NET       535007008       -17165000


BRAZIL


1007Q BZ       CONST BETER SA          25469474     -4918662.56
1008Q BZ       CONST BETER-PR A        25469474     -4918662.56
1009Q BZ       CONST BETER-PR B        25469474     -4918662.56
1COBAN BZ      CONST BETER-PF A        25469474     -4918662.56
1COBBN BZ      CONST BETER-PF B        25469474     -4918662.56
1COBON BZ      CONST BETER SA          25469474     -4918662.56
1CPMON BZ      CIA PETROLIFERA        377602195     -3014291.72
1CPMPN BZ      CIA PETROLIF-PRF       377602195     -3014291.72
3678565Q BZ    PET MANG-RIGHTS        140673541      -164925695
3678569Q BZ    PET MANG-RIGHTS        140673541      -164925695
4115360Q BZ    PET MANG-RT            140673541      -164925695
4115364Q BZ    PET MANG-RT            140673541      -164925695
81370Z BZ      TELECOMUNICA-ADR       262220712     -16698444.2
AGEN11 BZ      AGRENCO LTD-BDR        542862484      -297848371
AGRE LX        AGRENCO LTD            542862484      -297848371
ALICON BZ      ARTHUR LANGE SA         11642256     -17154461.9
ALICPN BZ      ARTHUR LANGE-PRF        11642256     -17154461.9
ARLA1 BZ       ARTHUR LANG-RT C        11642256     -17154461.9
ARLA10 BZ      ARTHUR LANG-RC P        11642256     -17154461.9
ARLA11 BZ      ARTHUR LAN-DVD C        11642256     -17154461.9
ARLA12 BZ      ARTHUR LAN-DVD P        11642256     -17154461.9
ARLA2 BZ       ARTHUR LANG-RT P        11642256     -17154461.9
ARLA3 BZ       ARTHUR LANGE            11642256     -17154461.9
ARLA4 BZ       ARTHUR LANGE-PRF        11642256     -17154461.9
ARLA9 BZ       ARTHUR LANG-RC C        11642256     -17154461.9
BLDR3 BZ       BALADARE               159454016     -52992212.8
BMBBF US       BOMBRIL                316331265      -123554206
BMBBY US       BOMBRIL SA-ADR         316331265      -123554206
BMBPY US       BOMBRIL SA-ADR         316331265      -123554206
BOBR1 BZ       BOMBRIL-RIGHTS         316331265      -123554206
BOBR2 BZ       BOMBRIL-RGTS PRE       316331265      -123554206
BOBR3 BZ       BOMBRIL                316331265      -123554206
BOBR4 BZ       BOMBRIL-PREF           316331265      -123554206
BOBRON BZ      BOMBRIL CIRIO SA       316331265      -123554206
BOBRPN BZ      BOMBRIL CIRIO-PF       316331265      -123554206
CAFE3 BZ       CAF BRASILIA            21097370      -903951461
CAFE4 BZ       CAF BRASILIA-PRF        21097370      -903951461
CBRZF US       TELEBRAS-PF RCPT       262220712     -16698444.2
CCHI3 BZ       CHIARELLI SA            22274027     -44537138.2
CCHI4 BZ       CHIARELLI SA-PRF        22274027     -44537138.2
CCHON BZ       CHIARELLI SA            22274027     -44537138.2
CCHPN BZ       CHIARELLI SA-PRF        22274027     -44537138.2
COBE3 BZ       CONST BETER SA          25469474     -4918662.56
COBE3B BZ      CONST BETER SA          25469474     -4918662.56
COBE5 BZ       CONST BETER-PF A        25469474     -4918662.56
COBE6 BZ       CONST BETER-PF B        25469474     -4918662.56
COBEAN BZ      CONST BETER-PR A        25469474     -4918662.56
COBEBN BZ      CONST BETER-PR B        25469474     -4918662.56
COBEON BZ      CONST BETER SA          25469474     -4918662.56
CSBRON BZ      CAFE BRASILIA SA        21097370      -903951461
CSBRPN BZ      CAFE BRASILIA-PR        21097370      -903951461
FGUI3 BZ       F GUIMARAES             11016542      -151840377
FGUI4 BZ       F GUIMARAES-PREF        11016542      -151840377
FGUION BZ      FERREIRA GUIMARA        11016542      -151840377
FGUIPN BZ      FERREIRA GUIM-PR        11016542      -151840377
FRNXON BZ      FABRICA RENAUX          63865882     -73255215.1
FRNXPN BZ      FABRICA RENAUX-P        63865882     -73255215.1
FTRX1 BZ       FABRICA TECID-RT        63865882     -73255215.1
FTRX3 BZ       FABRICA RENAUX          63865882     -73255215.1
FTRX4 BZ       FABRICA RENAUX-P        63865882     -73255215.1
FTSJON BZ      TECEL S JOSE            19067322     -52580501.1
FTSJPN BZ      TECEL S JOSE-PRF        19067322     -52580501.1
GAFON BZ       CIMOB PARTIC SA         39881387     -41560336.9
GAFP3 BZ       CIMOB PARTIC SA         39881387     -41560336.9
GAFP4 BZ       CIMOB PART-PREF         39881387     -41560336.9
GAFPN BZ       CIMOB PART-PREF         39881387     -41560336.9
GAZO10 BZ      GAZOLA-RCPT PREF        12452143     -40298506.3
GAZO11 BZ      GAZOLA SA-DVD CM        12452143     -40298506.3
GAZO12 BZ      GAZOLA SA-DVD PF        12452143     -40298506.3
GAZO3 BZ       GAZOLA                  12452143     -40298506.3
GAZO4 BZ       GAZOLA-PREF             12452143     -40298506.3
GAZO9 BZ       GAZOLA-RCPTS CMN        12452143     -40298506.3
GAZON BZ       GAZOLA SA               12452143     -40298506.3
GAZPN BZ       GAZOLA SA-PREF          12452143     -40298506.3
HAGA3 BZ       HAGA                    21299043     -62858771.3
HAGA4 BZ       FER HAGA-PREF           21299043     -62858771.3
HAGAON BZ      FERRAGENS HAGA          21299043     -62858771.3
HAGAPN BZ      FERRAGENS HAGA-P        21299043     -62858771.3
HBTS3 BZ       HABITASUL              408678629     -108615.446
HBTS5 BZ       HABITASUL-PREF A       408678629     -108615.446
HBTS6 BZ       HABITASUL-PREF B       408678629     -108615.446
HOOT3 BZ       HOTEIS OTHON SA        255036150     -42606769.7
HOOT4 BZ       HOTEIS OTHON-PRF       255036150     -42606769.7
HOTHON BZ      HOTEIS OTHON SA        255036150     -42606769.7
HOTHPN BZ      HOTEIS OTHON-PRF       255036150     -42606769.7
HSULAN BZ      HABITASUL-PREF A       408678629     -108615.446
HSULBN BZ      HABITASUL-PREF B       408678629     -108615.446
HSULON BZ      HABITASUL              408678629     -108615.446
IMBI1 BZ       DOC IMBITUBA-RTC        96977064     -42592602.5
IMBI2 BZ       DOC IMBITUBA-RTP        96977064     -42592602.5
IMBI3 BZ       DOC IMBITUBA            96977064     -42592602.5
IMBI4 BZ       DOC IMBITUB-PREF        96977064     -42592602.5
IMBION BZ      DOCAS IMBITUBA          96977064     -42592602.5
IMBIPN BZ      DOCAS IMBITUB-PR        96977064     -42592602.5
LEAP LX        LAEP INVESTMENTS       432349610      -161351898
MANGON BZ      PETRO MANGUINHOS       140673541      -164925695
MANGPN BZ      PETRO MANGUIN-PF       140673541      -164925695
MILK11 BZ      LAEP-BDR               432349610      -161351898
MNPR1 BZ       MINUPAR-RT              63144534     -60655823.4
MNPR3 BZ       MINUPAR                 63144534     -60655823.4
MNPR4 BZ       MINUPAR-PREF            63144534     -60655823.4
MNPR9 BZ       MINUPAR-RCT             63144534     -60655823.4
MNPRON BZ      MINUPAR SA              63144534     -60655823.4
MNPRPN BZ      MINUPAR SA-PREF         63144534     -60655823.4
MRLM3 BZ       CIA PETROLIFERA        377602195     -3014291.72
MRLM3B BZ      CIA PETROLIFERA        377602195     -3014291.72
MRLM4 BZ       CIA PETROLIF-PRF       377602195     -3014291.72
MRLM4B BZ      CIA PETROLIF-PRF       377602195     -3014291.72
NORD1 BZ       NORDON MET-RTS          16108143     -22352940.6
NORD3 BZ       NORDON MET              16108143     -22352940.6
NORDON BZ      NORDON METAL            16108143     -22352940.6
RCT4B AR       TELEBRAS-CEDE BL       262220712     -16698444.2
RCT4C AR       TELEBRAS-CED C/E       262220712     -16698444.2
RCT4D AR       TELEBRAS-CEDEA $       262220712     -16698444.2
RCTB1 BZ       TELEBRAS-RTS CMN       262220712     -16698444.2
RCTB2 BZ       TELEBRAS-RTS PRF       262220712     -16698444.2
RCTB30 BZ      TELEBRAS-CM RCPT       262220712     -16698444.2
RCTB31 BZ      TELEBRAS-CM RCPT       262220712     -16698444.2
RCTB32 BZ      TELEBRAS-CM RCPT       262220712     -16698444.2
RCTB33 BZ      TELEBRAS-RCT           262220712     -16698444.2
RCTB4 AR       TELEBRAS-CEDE PF       262220712     -16698444.2
RCTB40 BZ      TELEBRAS-PF RCPT       262220712     -16698444.2
RCTB41 BZ      TELEBRAS-PF RCPT       262220712     -16698444.2
RCTB42 BZ      TELEBRAS-PF RCPT       262220712     -16698444.2
RENXON BZ      TEXTEIS RENAUX          73095834      -103943215
RENXPN BZ      TEXTEIS RENAUX          73095834      -103943215
RPMG1 BZ       PET MANG-RT            140673541      -164925695
RPMG10 BZ      PET MANG-RECEIPT       140673541      -164925695
RPMG2 BZ       PET MANG-RT            140673541      -164925695
RPMG3 BZ       PETRO MANGUINHOS       140673541      -164925695
RPMG4 BZ       PET MANGUINH-PRF       140673541      -164925695
RPMG9 BZ       PET MANG-RECEIPT       140673541      -164925695
RTB US         TELEBRAS-ADR           262220712     -16698444.2
SJOS3 BZ       TECEL S JOSE            19067322     -52580501.1
SJOS4 BZ       TECEL S JOSE-PRF        19067322     -52580501.1
SNST3 BZ       SANESALTO               31044051     -1843297.83
SNSY3 BZ       SANSUY                 172563384     -94849032.9
SNSY5 BZ       SANSUY-PREF A          172563384     -94849032.9
SNSY6 BZ       SANSUY-PREF B          172563384     -94849032.9
SNSYAN BZ      SANSUY SA-PREF A       172563384     -94849032.9
SNSYBN BZ      SANSUY SA-PREF B       172563384     -94849032.9
SNSYON BZ      SANSUY SA              172563384     -94849032.9
STARON BZ      STAROUP SA              27663605     -7174512.03
STARPN BZ      STAROUP SA-PREF         27663605     -7174512.03
STLB1 BZ       STEEL - RT              22548846      -4346785.7
STLB3 BZ       STEEL DO BRASIL         22548846      -4346785.7
STLB9 BZ       STEEL - RCT ORD         22548846      -4346785.7
STRP3 BZ       BOTUCATU TEXTIL         27663605     -7174512.03
STRP4 BZ       BOTUCATU-PREF           27663605     -7174512.03
TBAPF US       TELEBRAS-PF RCPT       262220712     -16698444.2
TBAPY US       TELEBRAS-ADR           262220712     -16698444.2
TBASF US       TELEBRAS SA            262220712     -16698444.2
TBASY US       TELEBRAS-ADR           262220712     -16698444.2
TBH US         TELEBRAS-ADR           262220712     -16698444.2
TBH-W US       TELEBRAS/W-I-ADR       262220712     -16698444.2
TBRAY GR       TELEBRAS-ADR           262220712     -16698444.2
TBRTF US       TELEBRAS-CM RCPT       262220712     -16698444.2
TBX GR         TELEBRAS-ADR           262220712     -16698444.2
TCLP1 BZ       TELEBRAS-RTS CMN       262220712     -16698444.2
TEKA3 BZ       TEKA                   246866965      -392777063
TEKA4 BZ       TEKA-PREF              246866965      -392777063
TEKAON BZ      TEKA                   246866965      -392777063
TEKAPN BZ      TEKA-PREF              246866965      -392777063
TEKAY US       TEKA-ADR               246866965      -392777063
TEL4C AR       TELEBRAS-CED C/E       262220712     -16698444.2
TEL4D AR       TELEBRAS-CEDEA $       262220712     -16698444.2
TELB1 BZ       TELEBRAS-COM RT        262220712     -16698444.2
TELB10 BZ      TELEBRAS-RCT PRF       262220712     -16698444.2
TELB3 BZ       TELEBRAS SA            262220712     -16698444.2
TELB30 BZ      TELEBRAS-BLOCK         262220712     -16698444.2
TELB4 AR       TELEBRAS-CEDE PF       262220712     -16698444.2
TELB4 BZ       TELEBRAS SA-PREF       262220712     -16698444.2
TELB40 BZ      TELEBRAS-PF BLCK       262220712     -16698444.2
TELB9 BZ       TELEBRAS SA-RT         262220712     -16698444.2
TELE31 BZ      TELEBRAS-CM RCPT       262220712     -16698444.2
TELE41 BZ      TELEBRAS-PF RCPT       262220712     -16698444.2
TKTPF US       TEKA-PREF              246866965      -392777063
TKTPY US       TEKA-ADR               246866965      -392777063
TKTQF US       TEKA                   246866965      -392777063
TKTQY US       TEKA-ADR               246866965      -392777063
TLBRON BZ      TELEBRAS SA            262220712     -16698444.2
TLBRPN BZ      TELEBRAS SA-PREF       262220712     -16698444.2
TLBRUO BZ      TELEBRAS-RECEIPT       262220712     -16698444.2
TLBRUP BZ      TELEBRAS-PF RCPT       262220712     -16698444.2
TLCP2 BZ       TELEBRAS-RTS PRF       262220712     -16698444.2
TXRX1 BZ       TEXTEIS RENAU-RT        73095834      -103943215
TXRX10 BZ      TEXTEIS RENA-RCT        73095834      -103943215
TXRX2 BZ       TEXTEIS RENAU-RT        73095834      -103943215
TXRX3 BZ       RENAUXVIEW SA           73095834      -103943215
TXRX4 BZ       RENAUXVIEW SA-PF        73095834      -103943215
TXRX9 BZ       TEXTEIS RENA-RCT        73095834      -103943215
UNCI3 BZ       UNI CIDADE              15873892     -6485540.41
VAGV3 BZ       VARIG SA               966298026     -4695211316
VAGV4 BZ       VARIG SA-PREF          966298026     -4695211316
VARGON BZ      VARIG SA               966298026     -4695211316
VARGPN BZ      VARIG SA-PREF          966298026     -4695211316
VPSC3 BZ       VARIG PART EM SE        96617351      -460274609
VPSC4 BZ       VARIG PART EM-PR        96617351      -460274609
VPTA3 BZ       VARIG PART EM TR        49432124      -399290426
VPTA4 BZ       VARIG PART EM-PR        49432124      -399290426


COLOMBIA


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


                            ***********

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 T.
Fernandez, Valerie U. Pascual, Psyche A. Castillon, Julie Anne G.
Lopez, Ivy B. Magdadaro, Frauline S. Abangan, and Peter A.
Chapman, Editors.

Copyright 2011.  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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