TCRLA_Public/110201.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, February 1, 2011, Vol. 12, No. 21

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Owner Ordered to Stay in Custody for Treatment


B E R M U D A

GUARANTY DIRECT: Creditors' Proofs of Debt Due February 9
GUARANTY DIRECT: Members' Final Meeting Set for March 2


B E R M U D A

GLOBAL CROSSING: Iridian Asset No Longer Over-5% Owner
GLOBAL CROSSING: 2011 Long-Term Incentive Plan Approved


C A Y M A N   I S L A N D S

BRANZINO LIMITED: Members Receive Wind-Up Report
BRIGADIER CAPITAL: Creditors' Proofs of Debt Due February 25
BUCHANAN SPC: Creditors' Proofs of Debt Due February 25
CABLETEL CAYMAN: Shareholder Receives Wind-Up Report
CABLETEL CAYMAN: Shareholder Receives Wind-Up Report

COBHAM FUNDING: Members Receive Wind-Up Report
CRYSTAL MANAGEMENT: Placed Under Voluntary Wind-Up
CYCLONE INVESTMENTS: Members Receive Wind-Up Report
DOMINICAN DISTRIBUTION: Placed Under Voluntary Wind-Up
DUNSTANBURGH FINANCE: Shareholders Receive Wind-Up Report

GIS DIVERSIFIED: Placed Under Voluntary Wind-Up
IAM HA: Shareholders Receive Wind-Up Report
IAM HA: Shareholders Receive Wind-Up Report
INVESCO NAVIGATOR: Members Receive Wind-Up Report
INVESCO NAVIGATOR: Members Receive Wind-Up Report

ISKRA CAPITAL: Members Receive Wind-Up Report
ISKRA RUSSIA: Members Receive Wind-Up Report
KILGALLON FINANCE: Shareholders Receive Wind-Up Report
LAZARD CONVERTIBLE: Members Receive Wind-Up Report
LEHMAN BROTHERS: Shareholders Receive Wind-Up Report

LEHMAN BROTHERS: Shareholders Receive Wind-Up Report
MKM LONGBOAT: Commences Liquidation Proceedings
RAVENSWORTH FINANCE: Shareholders Receive Wind-Up Report
REIGATE FUNDING: Shareholders Receive Wind-Up Report
ROARING PROSPER: Commences Liquidation Proceedings

SHUAA SAFFRON: Shareholders Receive Wind-Up Report
SFM INVESTMENTS: Commences Liquidation Proceedings
SPIRIT LONG/SHORT: Placed Under Voluntary Wind-Up
ZS-SAX LEASING: Placed Under Voluntary Wind-Up


J A M A I C A

CABLE & WIRLESS: Axes Three Senior Executives


M E X I C O

GRUMA SAB: Fitch Assigns 'BB-/RR3' Rating on US$300-Mil. Bonds


P U E R T O   R I C O

GREEN AGE: Case Summary & 20 Largest Unsecured Creditors
URANUS DEVELOPMENT: Case Summary & 13 Largest Unsecured Creditors


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: Owner Ordered to Stay in Custody for Treatment
--------------------------------------------------------------
Ronnie Crocker at Houston Chronicle reports that U.S. District
Judge David Hittner ordered Stanford International Bank Limited
owner Robert Allen Stanford to remain in federal custody while
undergoing treatment for drug addiction and further evaluation of
his competence to stand trial.  The report relates that Judge
Hittner ruled after a hearing earlier this month that Mr. Stanford
cannot be tried until he undergoes detoxification from addictions
to medications he's received in jail.

According to Houston Chronicle, Judge Hittner noted his decision
in a formal order and recommended that the government send Mr.
Stanford to a federal Bureau of Prisons medical facility.

Yet while declaring Mr. Stanford "incompetent to stand trial at
this time," Judge Hittner's order admonished prosecutors and
defense attorneys to "diligently prepare this case to proceed to
trial," Houston Chronicle notes.

As reported in the Troubled Company Reporter-Latin America on
January 28, 2011, The Wall Street Journal said that Judge Hittner
found Mr. Stanford incompetent to stand trial following
conclusions by three psychiatrists that Mr. Stanford is mentally
impaired.  According to The Wall Street Journal, the decision by
Judge Hittner means Mr. Stanford's trial, originally scheduled to
begin this month, could be delayed at least through the second
half of the year.  The report disclosed that Mr. Stanford's
condition, according to the experts, has deteriorated since he was
incarcerated in mid-2009 due to a combination of factors,
including a head injury suffered in a confrontation with another
inmate, a major depressive disorder and excessive medication for
anxiety and depression, to which he has become addicted.

               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 also pursued against Mr. Stanford 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.).


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


GUARANTY DIRECT: Creditors' Proofs of Debt Due February 9
---------------------------------------------------------
The creditors of Guaranty Direct Insurance Company Ltd. are
required to file their proofs of debt by February 9, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on January 20, 2010.

The company's liquidator is:

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


GUARANTY DIRECT: Members' Final Meeting Set for March 2
-------------------------------------------------------
The members of Guaranty Direct Insurance Company Ltd. will hold
their final meeting on March 2, 2011, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced liquidation proceedings on January 20, 2010.

The company's liquidator is:

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


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


GLOBAL CROSSING: Iridian Asset No Longer Over-5% Owner
------------------------------------------------------
In an amended Schedule 13G filing with the Securities and Exchange
Commission dated January 25, 2011, Iridian Asset Management LLC,
David L. Cohen, and Harold J. Levy reported that they ceased to be
the beneficial owner of more than five percent of the class of
securities of Global Crossing Limited.

Iridian is majority owned by Arovid Associates LLC, a Delaware
limited liability company owned and controlled by these entities
-- 12.5% by Mr. Cohen; 12.5% by Mr. Levy; 37.5% by LLMD LLC, a
Delaware limited liability company; and 37.5% by ALHERO LLC, a
Delaware limited liability company.  LLMD LLC is owned 1% by Mr.
Cohen, and 99% by a family trust controlled by Mr. Cohen.  ALHERO
LLC is owned 1% by Levy and 99% by a family trust controlled by
Levy.

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
is a global IP and Ethernet solutions provider with the world's
first integrated global IP-based network.  The company offers a
full range of data, voice and collaboration services with an
industry leading customer experience and delivers service to
approximately 40% of the Fortune 500, as well as to 700 carriers,
mobile operators and ISPs.  It delivers converged IP services to
more than 700 cities in more than 70 countries around the world.

The Company's balance sheet at Sept. 30, 2010, showed
US$2.24 billion in total assets, US$2.74 billion in total
liabilities, and a stockholder's deficit of US$502.0 million.

                           *     *     *

In November 2010, Moody's Investors Service affirmed the Company's
'B3' corporate family and probability of default ratings.  Global
Crossing's B3 ratings are influenced primarily by the company's
participation in a highly competitive telecommunications arena,
its relatively poor EBITDA margins, limited free cash generating
capacity, and significant debt load.


GLOBAL CROSSING: 2011 Long-Term Incentive Plan Approved
-------------------------------------------------------
Effective January 21, 2011, the Board of Directors of Global
Crossing Limited and the Compensation Committee of the Company's
Board approved the Company's 2011 long-term incentive program.

Under the 2011 Long-Term Incentive Program, the executive officers
named in the Summary Compensation Table of the Company's proxy
statement for its 2010 Annual General Meeting of Shareholders each
received restricted stock units and performance shares under the
2003 Global Crossing Limited Stock Incentive Plan.  Effective the
same date, the Board and the Compensation Committee also approved
a reward program for certain employees of the Company.  Each Named
Executive Officer received RSUs under the Special Rewards Program.
The number of RSUs and the target number of performance shares
granted to the Named Executive Officers under the 2011 Long-Term
Incentive Program and the Special Rewards Program are:

                       2011 Long-Term           Special Rewards
                      Incentive Program             Program
                    -------------------------   ---------------
                              Target
                    RSUs   Performance Shares          RSUs
                   ------- ------------------         ------
John J. Legere     127,800          127,800           41,481
Hector R. Alonso    20,950           20,950            8,172
David R. Carey      22,950           22,950           10,417
Daniel J. Enright   22,950           22,950            9,805
John A. Kritzmacher 37,150           37,150           13,481

Each RSU, whether granted under the 2011 Long-Term Incentive
Program or under the Special Rewards Program, entitles a Named
Executive Officer to receive an unrestricted share of the
Company's common stock on January 21, 2014, subject to his
continued employment through that date and subject to earlier pro-
rata vesting in the event of death or long-term disability;
provided that all of Mr. Legere's unvested RSUs vest upon actual
or constructive termination without cause or due to death or long-
term disability.  Each RSU will also vest in full upon a Change in
Control.

Each performance share provides a Named Executive Officer with the
opportunity to receive an unrestricted share of the Company's
common stock on January 21, 2014, subject to his continued
employment through that date and subject to earlier pro-rata
payout in the event of death or long-term disability; provided
that all of Mr. Legere's unvested performance shares vest upon
actual or constructive termination without cause or due to death
or long-term disability.  In the event of a Change in Control, the
performance share opportunity payout will be determined on the
basis of the Company's relative total shareholder return against
those indices calculated through the relevant Change in Control
date.

Each Named Executive Officer's target performance share
opportunity is based on total shareholder return over a three year
period as compared to two peer groups.  Depending on how the
Company ranks in total shareholder return as compared to the two
peer groups, each grantee may earn 0% to 200% of the target number
of performance shares.  No payout will be made if the average of
the Company's total shareholder return results relative to the two
peer groups represents a ranking below the 30th percentile, and
the maximum payout of 200% will be made if such average ranking is
at or above the 80th percentile; provided that the portion of any
payout exceeding 100% of the target award and not resulting from a
Change in Control will be paid in the sole discretion of the
Compensation Committee and, unless the Committee determines
otherwise in its sole discretion, will be paid, if at all, in cash
rather than shares, with such cash being an amount equal to the
product of (i) the average closing price of the Company's common
shares for the month of December 2013 multiplied by (ii) the
number of shares constituting the target award multiplied by (iii)
the percentage payout in excess of 100%.

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
is a global IP and Ethernet solutions provider with the world's
first integrated global IP-based network.  The company offers a
full range of data, voice and collaboration services with an
industry leading customer experience and delivers service to
approximately 40% of the Fortune 500, as well as to 700 carriers,
mobile operators and ISPs.  It delivers converged IP services to
more than 700 cities in more than 70 countries around the world.

                           *     *     *

As reported by the Troubled Company Reporter on March 31, 2010,
Standard & Poor's Ratings Services raised all its ratings on
Global Crossing, including the corporate credit rating to 'B' from
'B-'.  The outlook is stable.

Standard & Poor's Ratings Services said it assigned its 'CCC+'
issue-level rating and '6' recovery rating to Bermuda-based Global
Crossing Ltd.'s proposed US$150 million of senior unsecured notes
due 2019.  The '6' recovery rating indicates S&P's expectation for
negligible (0%-10%) recovery in the event of a payment default.


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


BRANZINO LIMITED: Members Receive Wind-Up Report
------------------------------------------------
The members of Branzino Limited received on January 12, 2011, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487 Grand Cayman KY1-1106
         Cayman Islands


BRIGADIER CAPITAL: Creditors' Proofs of Debt Due February 25
------------------------------------------------------------
The creditors of Brigadier Capital Offshore Fund Ltd. are required
to file their proofs of debt by February 25, 2011, to be included
in the company's dividend distribution.

The company commenced liquidation proceedings on December 2, 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


BUCHANAN SPC: Creditors' Proofs of Debt Due February 25
-------------------------------------------------------
The creditors of Buchanan SPC are required to file their proofs of
debt by February 25, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on December 14,
2010.

The company's liquidator is:

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


CABLETEL CAYMAN: Shareholder Receives Wind-Up Report
----------------------------------------------------
The shareholder of Cabletel Cayman 1 received on January 25, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Ogier
         c/o Julie Twinn
         Telephone: (345) 815-1770
         Facsimile: (345) 949-9877


CABLETEL CAYMAN: Shareholder Receives Wind-Up Report
----------------------------------------------------
The shareholder of Cabletel Cayman 2 received on January 25, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Ogier
         c/o Julie Twinn
         Telephone: (345) 815-1770
         Facsimile: (345) 949-9877


COBHAM FUNDING: Members Receive Wind-Up Report
----------------------------------------------
The members of Cobham Funding Limited received on January 20,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


CRYSTAL MANAGEMENT: Placed Under Voluntary Wind-Up
--------------------------------------------------
On December 14, 2010, the sole shareholder of Crystal Management
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 14, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         P.O. Box 30622, Grand Cayman KY1-1203
         Cayman Islands


CYCLONE INVESTMENTS: Members Receive Wind-Up Report
---------------------------------------------------
The members of Cyclone Investments Limited received on January 12,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Charles Pitter
         c/o Prue Lawson
         Telephone: (345) 914 8662
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


DOMINICAN DISTRIBUTION: Placed Under Voluntary Wind-Up
------------------------------------------------------
On December 14, 2010, the sole member of Dominican Distribution
Holdings Ltd. resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
January 26, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


DUNSTANBURGH FINANCE: Shareholders Receive Wind-Up Report
---------------------------------------------------------
The shareholders of Dunstanburgh Finance (Cayman) Limited received
on January 20, 2011, the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


GIS DIVERSIFIED: Placed Under Voluntary Wind-Up
-----------------------------------------------
On December 10, 2010, the sole member of GIS Diversified Fund,
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 26, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


IAM HA: Shareholders Receive Wind-Up Report
-------------------------------------------
The shareholders of Iam Ha Partners Fund received on January 28,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Graham Robinson
         c/o Omar Grant
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P.O. Box 897
         Windward 1, Regatta Office Park
         Grand Cayman KY1-1103
         Cayman Islands


IAM HA: Shareholders Receive Wind-Up Report
-------------------------------------------
The shareholders of Iam Ha Absolute Return Fund received on
January 28, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Graham Robinson
         c/o Omar Grant
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P.O. Box 897
         Windward 1, Regatta Office Park
         Grand Cayman KY1-1103
         Cayman Islands


INVESCO NAVIGATOR: Members Receive Wind-Up Report
-------------------------------------------------
The members of Invesco Navigator Fund Ltd received on January 28,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Ian D. Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


INVESCO NAVIGATOR: Members Receive Wind-Up Report
-------------------------------------------------
The members of Invesco Navigator Fund (Offshore) Ltd received on
January 28, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ian D. Stokoe
         c/o Sarah Moxam
         Telephone: (345) 914 8634
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


ISKRA CAPITAL: Members Receive Wind-Up Report
---------------------------------------------
The members of Iskra Capital Management, Inc. received on
January 25, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


ISKRA RUSSIA: Members Receive Wind-Up Report
--------------------------------------------
The members of Iskra Russia Small Caps Fund received on
January 25, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


KILGALLON FINANCE: Shareholders Receive Wind-Up Report
------------------------------------------------------
The shareholders of Kilgallon Finance Limited received on
January 20, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


LAZARD CONVERTIBLE: Members Receive Wind-Up Report
--------------------------------------------------
The members of Lazard Convertible Opportunities SPC received on
January 11, 2011, 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
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


LEHMAN BROTHERS: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Lehman Brothers Market Neutral L/S Portfolio
Fund, Ltd received on January 17, 2011, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Richard Finlay
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


LEHMAN BROTHERS: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Lehman Brothers Market Neutral L/S Offshore
Fund, Ltd received on January 17, 2011, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Richard Finlay
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


MKM LONGBOAT: Commences Liquidation Proceedings
-----------------------------------------------
At an extraordinary meeting held on November 30, 2010, the
shareholders of MKM Longboat Multi Strategy Fund Limited resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
January 28, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         Roy Bailey
         Robin Lee McMahon
         c/o Barry MacManus
         Telephone: (345) 814 8968
         Facsimile: (345) 814 8529
         Ernst & Young Ltd
         62 Forum Lane, Camana Bay
         P.O. Box 510, Grand Cayman KY1-1106
         Cayman Islands


RAVENSWORTH FINANCE: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Ravensworth Finance Limited received on
January 20, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


REIGATE FUNDING: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Reigate Funding Limited received on
January 20, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


ROARING PROSPER: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on December 10, 2010, the members
of Roaring Prosper Limited resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
January 20, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Portcullis Trustnet (Cayman) Ltd.
         Michelle R. Bodden-Moxam
         Telephone: 345-946-6145
         Facsimile: 345-946-6146
         The Grand Pavilion Commercial Centre
         Oleander Way, 802 West Bay Road
         P.O. Box 32052, Grand Cayman KY1-1208
         Cayman Islands


SHUAA SAFFRON: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Shuaa Saffron Alternative Strategies SPC, Ltd.
received on January 21, 2011, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands


SFM INVESTMENTS: Commences Liquidation Proceedings
--------------------------------------------------
On December 13, 2010, the shareholder of SFM Investments LDC
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
February 4, 2011, will be included in the company's dividend
distribution.

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


SPIRIT LONG/SHORT: Placed Under Voluntary Wind-Up
-------------------------------------------------
On December 9, 2010, the sole shareholder of Spirit Long/Short
Equity Holdings Ltd. resolved to voluntarily wind up the company's
operations.

The company's liquidator is:

         Ogier
         c/o Michelle Richie
         Telephone: (345) 815-1755
         Facsimile: (345) 949-9877
         c/o Ogier
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ZS-SAX LEASING: Placed Under Voluntary Wind-Up
----------------------------------------------
On December 14, 2010, the shareholder of ZS-Sax Leasing Limited
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 28, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         David Preston
         Isabel Mason
         P.O. Box 1109, Grand Cayman KY1-1102
         Cayman Islands
         Telephone: 949-7755
         Facsimile: 949-7634


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


CABLE & WIRLESS: Axes Three Senior Executives
---------------------------------------------
RadioJamaica reports that Cable & Wireless Caribbean has cut three
of its very senior executives in a major shake-up that a company
official has described, as a realignment of the management team.

According to RadioJamaica, the company, which trades as LIME, has
severed ties with Barbadian vice president, Donald Austin, its
executive with responsibility for legal and regulatory matters.
The report relates that the company also severed Milton Brady, a
Jamaican national who operated from Barbados as the company's
chief commercial officer, and Henry Reid, another Jamaican who was
executive vice-president with responsibility for human resources.

All three reported directly to David Shaw, LIME's chief executive
officer who operates from Jamaica, RadioJamaica notes.

Cable & Wireless Communications PLC is a global provider of
telecommunications and Internet services.  Cable & Wireless
telecommunication services provide fixed and mobile voice, data
and IP services to consumers and businesses located in the
Caribbean.

                          *     *     *

As of January 31, 2011, the company continues to carry Moody's
"B1" senior unsecured debt rating.  The company also continues to
carry Standard and Poor's "B" short-term issuer credit ratings.


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


GRUMA SAB: Fitch Assigns 'BB-/RR3' Rating on US$300-Mil. Bonds
--------------------------------------------------------------
Fitch Ratings placed these ratings for Gruma, S.A.B. de C.V. on
Rating Watch Positive:

  -- Foreign currency long-term Issuer Default Rating (IDR) 'B+';
  -- Local currency-long term IDR 'B+';
  -- Perpetual bonds issuance for US$300 million 'BB-/RR3'.

The rating action follows Gruma's announcement of its intention to
sell a majority portion of its 8.8% stake ownership in Grupo
Financiero Banorte, S.A.B. de C.V. equivalent to 177.5 million
shares; the market value is estimated to be above US$700 million.
Gruma will use the proceeds from this transaction to pay down
debt, resulting in an improved financial position.  As of
Sept. 30, 2010, the company reported cash and marketable
securities of MXN916 million and total debt of MXN19.5 billion, of
which MXN1.9 billion was short term.  For the latest 12 months
ended Sept. 30, 2010, Gruma's total debt/EBITDA ratio was 4.4
times (x), while its net debt/EBITDA ratio was 4.2x.

The Rating Watch for Gruma will be resolved after the transaction
is completed, subject to the review of further material
information, and could result in a rating upgrade.


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


GREEN AGE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Green Age Construction Corp.
        MSC 865
        Winston Churchill 168
        San Juan, PR 00926

Bankruptcy Case No.: 11-00509

Chapter 11 Petition Date: January 26, 2011

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Alexis Fuentes Hernandez, Esq.
                  FUENTES LAW OFFICES
                  P.O. Box 9022726
                  San Juan, PR 00902-2726
                  Tel: (787) 722-5216
                  Fax: (787) 722-5206
                  E-mail: alex@fuentes-law.com

Scheduled Assets: US$4,674,803

Scheduled Debts: US$1,702,623

The petition was signed by Michael Redondo, president.

Debtor-affiliate filing separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
   Four Lions Corp.                   11-00419            01/25/11

Debtor's List of 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
  Tau Electric, Inc.               Subcontractor       US$161,550
  P.O. Box 19117
  San Juan, PR 00910

  1 First Leasing & Rental Corp    Vehicle Lease          $122,685
  P.O. Box 11852
  San Juan, PR 00910-1852

  Ranger American of P.R.          --                     $108,169
  P.O. Box 29105
  San Juan, PR 00920-0105

  MAC Climber, Inc.                Supplies               $102,983

  Atlantis Group                   Subcontractor           $91,182

  Metallica                        Subcontractor           $84,965

  Lanco Manufacturing Corp.        Supplies                $77,555

  Fondo Seguro Del Estado          --                      $70,411

  Ready Cables, Inc.               --                      $58,180

  Easy Rental Equipment, Inc.      Rental Equipment        $56,000

  Compresores & Equipos            --                      $48,462

  Pedro R. Rivera                  --                      $48,166

  MP Elevator                      Subcontractor           $45,800

  Ferreteria Madera 3C             --                      $40,029

  Volvo Rents                      --                      $39,715

  United States Treasury           --                      $35,882

  Santiago Roofing, Cont. Inc.     Subcontractor           $29,004

  Nicolas Laracuente               Subcontractor           $28,759

  Gobierno Municipal Carolina      --                      $27,054

  Master Concrete Corp.            Supplies                $23,032


URANUS DEVELOPMENT: Case Summary & 13 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Uranus Development LLC
        MCS 865, Winston Churchill 168
        San Juan, PR 00926

Bankruptcy Case No.: 11-00510

Chapter 11 Petition Date: January 26, 2011

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

Debtor's Counsel: Alexis Fuentes Hernandez, Esq.
                  FUENTES LAW OFFICES
                  P.O. Box 9022726
                  San Juan, PR 00902-2726
                  Tel: (787) 722-5216
                  Fax: (787) 722-5206
                  E-mail: alex@fuentes-law.com

Scheduled Assets: US$5,100,000

Scheduled Debts: US$51,005,926

A list of the Company's 13 largest unsecured creditors
filed together with the petition is available for free
at http://bankrupt.com/misc/prb11-00510.pdf

The petition was signed by Michael Redondo, president.

Debtor-affiliate that filed separate Chapter 11 petition:

                                                 Petition
   Debtor                              Case No.     Date
   ------                              --------     ----
  Four Lions Corp.                     11-00419   01/25/11


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

IMPTD AR        IMPSAT FIBER-$US        535007008        -17165000
IMPT AR         IMPSAT FIBER-CED        535007008        -17165000
IMPTC AR        IMPSAT FIBER-C/E        535007008        -17165000
IMPTB AR        IMPSAT FIBER-BLK        535007008        -17165000
330902Q GR      IMPSAT FIBER NET        535007008        -17165000
XIMPT SM        IMPSAT FIBER NET        535007008        -17165000
IMPTQ US        IMPSAT FIBER NET        535007008        -17165000
CADN SW         SOC COMERCIAL PL        138884129       -253031947
COMED AR        COMERCIAL PLAT-$        138884129       -253031947
SCPDS LI        COMERCIAL PL-ADR        138884129       -253031947
CADN EO         SOC COMERCIAL PL        138884129       -253031947
CVVIF US        SOC COMERCIAL PL        138884129       -253031947
SCDPF US        SOC COMERCIAL PL        138884129       -253031947
COMEB AR        COMERCIAL PLA-BL        138884129       -253031947
COME AR         SOC COMERCIAL PL        138884129       -253031947
CAD IX          SOC COMERCIAL PL        138884129       -253031947
COMEC AR        COMERCIAL PL-C/E        138884129       -253031947
SDAGF US        SNIAFA SA-B            11229696.2      -2670544.88
SNIA5 AR        SNIAFA SA-B            11229696.2      -2670544.88
SNIA AR         SNIAFA SA              11229696.2      -2670544.88


BRAZIL


VAGV4 BZ        VARIG SA-PREF           966298026      -4695211316
VARGPN BZ       VARIG SA-PREF           966298026      -4695211316
VARGON BZ       VARIG SA                966298026      -4695211316
VAGV3 BZ        VARIG SA                966298026      -4695211316
AGRE LX         AGRENCO LTD             542862484       -297848371
AGEN11 BZ       AGRENCO LTD-BDR         542862484       -297848371
MILK11 BZ       LAEP-BDR                432349610       -161351898
LEAP LX         LAEP INVESTMENTS        432349610       -161351898
HBTS3 BZ        HABITASUL               408678629      -108615.446
HBTS6 BZ        HABITASUL-PREF B        408678629      -108615.446
HSULAN BZ       HABITASUL-PREF A        408678629      -108615.446
HSULON BZ       HABITASUL               408678629      -108615.446
HSULBN BZ       HABITASUL-PREF B        408678629      -108615.446
HBTS5 BZ        HABITASUL-PREF A        408678629      -108615.446
1CPMON BZ       CIA PETROLIFERA         377602195      -3014291.72
MRLM4 BZ        CIA PETROLIF-PRF        377602195      -3014291.72
1CPMPN BZ       CIA PETROLIF-PRF        377602195      -3014291.72
MRLM3B BZ       CIA PETROLIFERA         377602195      -3014291.72
MRLM4B BZ       CIA PETROLIF-PRF        377602195      -3014291.72
MRLM3 BZ        CIA PETROLIFERA         377602195      -3014291.72
BOBRPN BZ       BOMBRIL CIRIO-PF        316331265       -123554206
BMBBY US        BOMBRIL SA-ADR          316331265       -123554206
BOBRON BZ       BOMBRIL CIRIO SA        316331265       -123554206
BOBR3 BZ        BOMBRIL                 316331265       -123554206
BMBPY US        BOMBRIL SA-ADR          316331265       -123554206
BOBR4 BZ        BOMBRIL-PREF            316331265       -123554206
BOBR1 BZ        BOMBRIL-RIGHTS          316331265       -123554206
BOBR2 BZ        BOMBRIL-RGTS PRE        316331265       -123554206
BMBBF US        BOMBRIL                 316331265       -123554206
TBASY US        TELEBRAS-ADR            262220712      -16698444.2
TELB3 BZ        TELEBRAS SA             262220712      -16698444.2
TLBRUO BZ       TELEBRAS-RECEIPT        262220712      -16698444.2
RCTB41 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
RCTB40 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
CBRZF US        TELEBRAS-PF RCPT        262220712      -16698444.2
TLBRPN BZ       TELEBRAS SA-PREF        262220712      -16698444.2
TBH-W US        TELEBRAS/W-I-ADR        262220712      -16698444.2
TCLP1 BZ        TELEBRAS-RTS CMN        262220712      -16698444.2
TBAPF US        TELEBRAS-PF RCPT        262220712      -16698444.2
TELE31 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
TELB10 BZ       TELEBRAS-RCT PRF        262220712      -16698444.2
TELB9 BZ        TELEBRAS SA-RT          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
TLBRUP BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TELE41 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TEL4D AR        TELEBRAS-CEDEA $        262220712      -16698444.2
RCTB32 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
TBAPY US        TELEBRAS-ADR            262220712      -16698444.2
TELB4 BZ        TELEBRAS SA-PREF        262220712      -16698444.2
TBX GR          TELEBRAS-ADR            262220712      -16698444.2
RTB US          TELEBRAS-ADR            262220712      -16698444.2
RCTB30 BZ       TELEBRAS-CM RCPT        262220712      -16698444.2
RCTB1 BZ        TELEBRAS-RTS CMN        262220712      -16698444.2
TELB40 BZ       TELEBRAS-PF BLCK        262220712      -16698444.2
RCT4D AR        TELEBRAS-CEDEA $        262220712      -16698444.2
TBRTF US        TELEBRAS-CM RCPT        262220712      -16698444.2
RCTB2 BZ        TELEBRAS-RTS PRF        262220712      -16698444.2
TBH US          TELEBRAS-ADR            262220712      -16698444.2
RCTB4 AR        TELEBRAS-CEDE PF        262220712      -16698444.2
TBASF US        TELEBRAS SA             262220712      -16698444.2
TLBRON BZ       TELEBRAS SA             262220712      -16698444.2
RCTB42 BZ       TELEBRAS-PF RCPT        262220712      -16698444.2
TELB1 BZ        TELEBRAS-COM RT         262220712      -16698444.2
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
TLCP2 BZ        TELEBRAS-RTS PRF        262220712      -16698444.2
HOTHON BZ       HOTEIS OTHON SA         255036150      -42606769.7
HOOT3 BZ        HOTEIS OTHON SA         255036150      -42606769.7
HOTHPN BZ       HOTEIS OTHON-PRF        255036150      -42606769.7
HOOT4 BZ        HOTEIS OTHON-PRF        255036150      -42606769.7
TEKA4 BZ        TEKA-PREF               246866965       -392777063
TKTPF US        TEKA-PREF               246866965       -392777063
TEKA3 BZ        TEKA                    246866965       -392777063
TKTPY US        TEKA-ADR                246866965       -392777063
TKTQF US        TEKA                    246866965       -392777063
TKTQY US        TEKA-ADR                246866965       -392777063
TEKAON BZ       TEKA                    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
SNSY5 BZ        SANSUY-PREF A           172563384      -94849032.9
SNSY6 BZ        SANSUY-PREF B           172563384      -94849032.9
SNSYON BZ       SANSUY SA               172563384      -94849032.9
SNSY3 BZ        SANSUY                  172563384      -94849032.9
BLDR3 BZ        BALADARE                159454016      -52992212.8
3678565Q BZ     PET MANG-RIGHTS         140673541       -164925695
4115360Q BZ     PET MANG-RT             140673541       -164925695
RPMG10 BZ       PET MANG-RECEIPT        140673541       -164925695
MANGPN BZ       PETRO MANGUIN-PF        140673541       -164925695
RPMG1 BZ        PET MANG-RT             140673541       -164925695
RPMG3 BZ        PETRO MANGUINHOS        140673541       -164925695
RPMG4 BZ        PET MANGUINH-PRF        140673541       -164925695
MANGON BZ       PETRO MANGUINHOS        140673541       -164925695
RPMG9 BZ        PET MANG-RECEIPT        140673541       -164925695
4115364Q BZ     PET MANG-RT             140673541       -164925695
RPMG2 BZ        PET MANG-RT             140673541       -164925695
3678569Q BZ     PET MANG-RIGHTS         140673541       -164925695
IMBION BZ       DOCAS IMBITUBA         96977064.5      -42592602.5
IMBI2 BZ        DOC IMBITUBA-RTP       96977064.5      -42592602.5
IMBI3 BZ        DOC IMBITUBA           96977064.5      -42592602.5
IMBI1 BZ        DOC IMBITUBA-RTC       96977064.5      -42592602.5
IMBI4 BZ        DOC IMBITUB-PREF       96977064.5      -42592602.5
IMBIPN BZ       DOCAS IMBITUB-PR       96977064.5      -42592602.5
VPSC3 BZ        VARIG PART EM SE       96617351.1       -460274609
VPSC4 BZ        VARIG PART EM-PR       96617351.1       -460274609
TXRX4 BZ        RENAUXVIEW SA-PF       73095833.7       -103943215
TXRX1 BZ        TEXTEIS RENAU-RT       73095833.7       -103943215
RENXPN BZ       TEXTEIS RENAUX         73095833.7       -103943215
TXRX10 BZ       TEXTEIS RENA-RCT       73095833.7       -103943215
RENXON BZ       TEXTEIS RENAUX         73095833.7       -103943215
TXRX2 BZ        TEXTEIS RENAU-RT       73095833.7       -103943215
TXRX3 BZ        RENAUXVIEW SA          73095833.7       -103943215
TXRX9 BZ        TEXTEIS RENA-RCT       73095833.7       -103943215
FRNXPN BZ       FABRICA RENAUX-P         63865882      -73255215.1
FTRX1 BZ        FABRICA TECID-RT         63865882      -73255215.1
FTRX4 BZ        FABRICA RENAUX-P         63865882      -73255215.1
FRNXON BZ       FABRICA RENAUX           63865882      -73255215.1
FTRX3 BZ        FABRICA RENAUX           63865882      -73255215.1
MNPRPN BZ       MINUPAR SA-PREF        63144533.8      -60655823.4
MNPR9 BZ        MINUPAR-RCT            63144533.8      -60655823.4
MNPR4 BZ        MINUPAR-PREF           63144533.8      -60655823.4
MNPR1 BZ        MINUPAR-RT             63144533.8      -60655823.4
MNPRON BZ       MINUPAR SA             63144533.8      -60655823.4
MNPR3 BZ        MINUPAR                63144533.8      -60655823.4
VPTA3 BZ        VARIG PART EM TR       49432124.2       -399290426
VPTA4 BZ        VARIG PART EM-PR       49432124.2       -399290426
GAFPN BZ        CIMOB PART-PREF        39881386.6      -41560336.9
GAFON BZ        CIMOB PARTIC SA        39881386.6      -41560336.9
GAFP4 BZ        CIMOB PART-PREF        39881386.6      -41560336.9
GAFP3 BZ        CIMOB PARTIC SA        39881386.6      -41560336.9
SNST3 BZ        SANESALTO                31044051      -1843297.83
STARON BZ       STAROUP SA             27663604.9      -7174512.03
STARPN BZ       STAROUP SA-PREF        27663604.9      -7174512.03
STRP3 BZ        BOTUCATU TEXTIL        27663604.9      -7174512.03
STRP4 BZ        BOTUCATU-PREF          27663604.9      -7174512.03
1009Q BZ        CONST BETER-PR B       25469474.3      -4918662.56
1COBBN BZ       CONST BETER-PF B       25469474.3      -4918662.56
COBE3 BZ        CONST BETER SA         25469474.3      -4918662.56
1008Q BZ        CONST BETER-PR A       25469474.3      -4918662.56
COBE5 BZ        CONST BETER-PF A       25469474.3      -4918662.56
COBEON BZ       CONST BETER SA         25469474.3      -4918662.56
1COBON BZ       CONST BETER SA         25469474.3      -4918662.56
1COBAN BZ       CONST BETER-PF A       25469474.3      -4918662.56
COBEBN BZ       CONST BETER-PR B       25469474.3      -4918662.56
COBEAN BZ       CONST BETER-PR A       25469474.3      -4918662.56
COBE3B BZ       CONST BETER SA         25469474.3      -4918662.56
1007Q BZ        CONST BETER SA         25469474.3      -4918662.56
COBE6 BZ        CONST BETER-PF B       25469474.3      -4918662.56
STLB9 BZ        STEEL - RCT ORD        22548846.4       -4346785.7
STLB3 BZ        STEEL DO BRASIL        22548846.4       -4346785.7
STLB1 BZ        STEEL - RT             22548846.4       -4346785.7
CCHI3 BZ        CHIARELLI SA           22274026.8      -44537138.2
CCHI4 BZ        CHIARELLI SA-PRF       22274026.8      -44537138.2
CCHON BZ        CHIARELLI SA           22274026.8      -44537138.2
CCHPN BZ        CHIARELLI SA-PRF       22274026.8      -44537138.2
HAGA4 BZ        FER HAGA-PREF          21299042.6      -62858771.3
HAGA3 BZ        HAGA                   21299042.6      -62858771.3
HAGAON BZ       FERRAGENS HAGA         21299042.6      -62858771.3
HAGAPN BZ       FERRAGENS HAGA-P       21299042.6      -62858771.3
CAFE3 BZ        CAF BRASILIA           21097369.7       -903951461
CSBRPN BZ       CAFE BRASILIA-PR       21097369.7       -903951461
CSBRON BZ       CAFE BRASILIA SA       21097369.7       -903951461
CAFE4 BZ        CAF BRASILIA-PRF       21097369.7       -903951461
FTSJON BZ       TECEL S JOSE           19067322.2      -52580501.1
SJOS3 BZ        TECEL S JOSE           19067322.2      -52580501.1
SJOS4 BZ        TECEL S JOSE-PRF       19067322.2      -52580501.1
FTSJPN BZ       TECEL S JOSE-PRF       19067322.2      -52580501.1
NORDON BZ       NORDON METAL           16108142.8      -22352940.6
NORD3 BZ        NORDON MET             16108142.8      -22352940.6
NORD1 BZ        NORDON MET-RTS         16108142.8      -22352940.6
UNCI3 BZ        UNI CIDADE             15873892.4      -6485540.41
GAZON BZ        GAZOLA SA              12452143.1      -40298506.3
GAZO9 BZ        GAZOLA-RCPTS CMN       12452143.1      -40298506.3
GAZO10 BZ       GAZOLA-RCPT PREF       12452143.1      -40298506.3
GAZO3 BZ        GAZOLA                 12452143.1      -40298506.3
GAZPN BZ        GAZOLA SA-PREF         12452143.1      -40298506.3
GAZO11 BZ       GAZOLA SA-DVD CM       12452143.1      -40298506.3
GAZO4 BZ        GAZOLA-PREF            12452143.1      -40298506.3
GAZO12 BZ       GAZOLA SA-DVD PF       12452143.1      -40298506.3
ARLA9 BZ        ARTHUR LANG-RC C       11642255.9      -17154461.9
ARLA10 BZ       ARTHUR LANG-RC P       11642255.9      -17154461.9
ARLA1 BZ        ARTHUR LANG-RT C       11642255.9      -17154461.9
ALICON BZ       ARTHUR LANGE SA        11642255.9      -17154461.9
ARLA3 BZ        ARTHUR LANGE           11642255.9      -17154461.9
ARLA11 BZ       ARTHUR LAN-DVD C       11642255.9      -17154461.9
ARLA4 BZ        ARTHUR LANGE-PRF       11642255.9      -17154461.9
ARLA2 BZ        ARTHUR LANG-RT P       11642255.9      -17154461.9
ALICPN BZ       ARTHUR LANGE-PRF       11642255.9      -17154461.9
ARLA12 BZ       ARTHUR LAN-DVD P       11642255.9      -17154461.9
FGUI3 BZ        F GUIMARAES            11016542.1       -151840377
FGUIPN BZ       FERREIRA GUIM-PR       11016542.1       -151840377
FGUI4 BZ        F GUIMARAES-PREF       11016542.1       -151840377
FGUION BZ       FERREIRA GUIMARA       11016542.1       -151840377


COLOMBIA

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



                   * * * End of Transmission * * *