TCRLA_Public/110203.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

           Thursday, February 3, 2011, Vol. 12, No. 24

                            Headlines



B R A Z I L

BANCO PANAMERICANO: Magnate Agrees to Sell Bank to Banco BTG


C A Y M A N   I S L A N D S

ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up
ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up

ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up
BRIDGE CAPITAL: Placed Under Voluntary Wind-Up
CORINTHIANS SPORTS: Placed Under Voluntary Wind-Up
FREMANTLE LTD: Placed Under Voluntary Wind-Up
GCOF SPV I: Placed Under Voluntary Wind-Up

GCOF SPV II: Placed Under Voluntary Wind-Up
GCPII SPV I: Placed Under Voluntary Wind-Up
GCPII SPV II: Placed Under Voluntary Wind-Up
HELIUM CAPITAL: S&P Withdraws 'CCC-' Rating on Series 79 Notes
IMPALA ALTERNATIVE: Commences Liquidation Proceedings

JASPER FINANCE: Creditors' Proofs of Debt Due February 5
JPMORGAN ALPHA: Commences Liquidation Proceedings
LEHMAN BROTHERS: Placed Under Voluntary Wind-Up
LONGVIEW OPPORTUNITIES: Commences Liquidation Proceedings
MC GP: Commences Liquidation Proceedings

MICROCHIP HOLDINGS: Placed Under Voluntary Wind-Up
NADYMOND INVESTMENTS: Placed Under Voluntary Wind-Up
NORTH ENTERPRISES: Placed Under Voluntary Wind-Up
ORYX ASIA: Creditors' Proofs of Debt Due February 3
PIMCO LIQUIDITY: Commences Liquidation Proceedings

PIMCO LIQUIDITY: Commences Liquidation Proceedings
SAIL ADVISORS: Placed Under Voluntary Wind-Up
SHELTER COVE: Placed Under Voluntary Wind-Up
THAMES RIVER: Creditors' Proofs of Debt Due February 5
VITA CAPITAL: Placed Under Voluntary Wind-Up


M E X I C O

VITRO SAB: Appeal to Overturn Ruling to Dismiss Petition Rejected


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


BANCO PANAMERICANO: Magnate Agrees to Sell Bank to Banco BTG
------------------------------------------------------------
Laura Price at Bloomberg News, citing O Estado de S. Paulo,
reports that Silvio Santos, a Brazilian media magnate, agreed to
sell Banco Panamericano SA to Banco BTG Pactual SA after receiving
a call on Jan. 31, 2011, from central bank President Alexandre
Tombini.

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

                       About Banco Panamericano

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

                            *     *     *

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


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


ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
-------------------------------------------------------------
The creditors of Anthracite Balanced Company (IR-16) Limited are
required to file their proofs of debt by February 5, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on December 20,
2010.

The company's liquidator is:

         Ian D. Stokoe
         c/o Priscilla Connor
         Telephone: (345) 914 8745
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
-------------------------------------------------------------
The creditors of Anthracite Balanced Company (JR-35) Limited are
required to file their proofs of debt by February 5, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on December 20,
2010.

The company's liquidator is:

         Ian D. Stokoe
         c/o Priscilla Connor
         Telephone: (345) 914 8745
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


ANTHRACITE BALANCED: Creditors' Proofs of Debt Due February 5
-------------------------------------------------------------
The creditors of Anthracite Balanced Company (JR-28) Limited are
required to file their proofs of debt by February 5, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on December 21,
2010.

The company's liquidator is:

         Ian D. Stokoe
         c/o Priscilla Connor
         Telephone: (345) 914 8745
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up
-----------------------------------------------
On December 21, 2010, the sole shareholder of Arjava Absolute
Return Asia Equity (US Feeder) Fund 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 liquidator is:

         Arjava Capital Pte Ltd
         Blk 220B Bedok Central #10-38
         Singapore 048580
         Telephone: 6236 0643
         Facsimile: 6236 0640


ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up
-----------------------------------------------
On December 21, 2010, the sole shareholder of Arjava Absolute
Return Asia Equity Fund 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 liquidator is:

         Arjava Capital Pte Ltd
         Blk 220B Bedok Central #10-38
         Singapore 048580
         Telephone: 6236 0643
         Facsimile: 6236 0640


ARJAVA ABSOLUTE: Placed Under Voluntary Wind-Up
-----------------------------------------------
On December 21, 2010, the sole shareholder of Arjava Absolute
Return Asia Equity (Feeder) Fund 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 liquidator is:

         Arjava Capital Pte Ltd
         Blk 220B Bedok Central #10-38
         Singapore 048580
         Telephone: 6236 0643
         Facsimile: 6236 0640


BRIDGE CAPITAL: Placed Under Voluntary Wind-Up
----------------------------------------------
On December 21, 2010, the sole shareholder of Bridge Capital
Limited resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

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
         Telephone: 345 949-7128


CORINTHIANS SPORTS: Placed Under Voluntary Wind-Up
--------------------------------------------------
On December 22, 2010, the sole shareholder of Corinthians Sports
Licensing Company resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
January 27, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         E. Andrew Hersant
         Christopher Humphries
         c/o Stuarts Walker Hersant
         Telephone: (345) 949 3344
         Facsimile: (345) 949 2888
         P.O. Box 2510, Grand Cayman KY1-1104
         Cayman Islands


FREMANTLE LTD: Placed Under Voluntary Wind-Up
---------------------------------------------
On December 21, 2010, the shareholder of Fremantle Ltd. resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 22, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         Connan Hill
         Bronwynne R. Arch
         Telephone: 949-7755
         Facsimile: 949-7634
         P.O. Box 1109, Grand Cayman KY-1102
         Cayman Islands


GCOF SPV I: Placed Under Voluntary Wind-Up
------------------------------------------
On December 31, 2010, the sole shareholder of GCOF SPV I resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GCOF SPV II: Placed Under Voluntary Wind-Up
-------------------------------------------
On December 31, 2010, the sole shareholder of GCOF SPV II resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GCPII SPV I: Placed Under Voluntary Wind-Up
-------------------------------------------
On December 31, 2010, the sole shareholder of GCPII SPV I resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GCPII SPV II: Placed Under Voluntary Wind-Up
--------------------------------------------
On December 31, 2010, the sole shareholder of GCPII SPV II
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


HELIUM CAPITAL: S&P Withdraws 'CCC-' Rating on Series 79 Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'CCC- (sf)' rating
on Helium Capital Ltd.'s series 79 US$20 million limited recourse
secured floating rate credit-linked notes due 2012.  The rating
withdrawal follows the arranger's notification to us that the
notes have been repurchased by the issuer and cancelled on
Jan. 31, 2011.

                         Rating Withdrawn

                        Helium Capital Ltd.

         Series 79 US$20 million limited recourse secured
             floating rate credit-linked notes due 2012

           To           From              Issue amount
           --           ----              ------------
           NR           CCC- (sf)         US$20 mil.

The transaction's closing date was July 17, 2007.


IMPALA ALTERNATIVE: Commences Liquidation Proceedings
-----------------------------------------------------
Impala Alternative Energy Fund Ltd. commenced liquidation
proceedings on December 20, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106, Grand Cayman KY1-1205
         Cayman Islands


JASPER FINANCE: Creditors' Proofs of Debt Due February 5
--------------------------------------------------------
The creditors of Jasper Finance Limited are required to file their
proofs of debt by February 5, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on December 21,
2010.

The company's liquidator is:

         Ian D. Stokoe
         c/o Priscilla Connor
         Telephone: (345) 914 8745
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


JPMORGAN ALPHA: Commences Liquidation Proceedings
-------------------------------------------------
JPMorgan Alpha Strategy, Ltd. commenced liquidation proceedings on
December 22, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 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


LEHMAN BROTHERS: Placed Under Voluntary Wind-Up
-----------------------------------------------
On December 16, 2010, the sole member of Lehman Brothers Asia
Multistrategy Fund, Ltd. resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
January 27, 2011, will be included in the company's dividend
distribution.

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


LONGVIEW OPPORTUNITIES: Commences Liquidation Proceedings
---------------------------------------------------------
Longview Opportunities Master Fund commenced liquidation
proceedings on December 22, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106, Grand Cayman KY1-1205
         Cayman Islands


MC GP: Commences Liquidation Proceedings
----------------------------------------
MC GP Ltd commenced liquidation proceedings on December 20, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         Mourant Ozannes Cayman Liquidators Limited
         c/o Marco Archer
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647;

         or

         Mourant Ozannes Cayman Liquidators Limited
         c/o Peter Goulden
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647
         Harbour Centre, 42 North Church Street
         P.O. Box 1348, George Town
         Grand Cayman KY1-1108
         Cayman Islands


MICROCHIP HOLDINGS: Placed Under Voluntary Wind-Up
--------------------------------------------------
On December 17, 2010, the members of Microchip Holdings LDC
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 Noel Webb
         Telephone: (345) 814 7394
         Facsimile: (345) 945 3902
         P.O. Box 2681, Grand Cayman KY1-1111
         Cayman Islands


NADYMOND INVESTMENTS: Placed Under Voluntary Wind-Up
----------------------------------------------------
On December 23, 2010, the sole shareholder of Nadymond Investments
Limited resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 24, 2011, will be included in the company's dividend
distribution.

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
         Telephone: 345 949-7128


NORTH ENTERPRISES: Placed Under Voluntary Wind-Up
-------------------------------------------------
On December 21, 2010, the sole shareholder of North Enterprises
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Michael Ovitz
         1234 Benedict Canyon Drive
         Beverly Hills 90210, California
         U.S.A.
         Telephone: 310-272-8888
         Facsimile: 310-300-2424


ORYX ASIA: Creditors' Proofs of Debt Due February 3
---------------------------------------------------
The creditors of Oryx Asia Fund are required to file their proofs
of debt by February 3, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on December 14,
2010.

The company's liquidator is:

         Stuart Sybersma
         c/o Jennifer Chailler
         Deloitte & Touche
         P.O. Box 1787, Grand Cayman KY1-1109
         Cayman Islands
         Telephone: (345) 949 7500
         Facsimile: (345) 949 8258
         e-mail: jchailler@deloitte.com


PIMCO LIQUIDITY: Commences Liquidation Proceedings
--------------------------------------------------
Pimco Liquidity Premium Offshore Fund Ltd. commenced liquidation
proceedings on December 21, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 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


PIMCO LIQUIDITY: Commences Liquidation Proceedings
--------------------------------------------------
Pimco Liquidity Premium Master Fund Ltd. commenced liquidation
proceedings on December 21, 2010.

Only creditors who were able to file their proofs of debt by
January 25, 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


SAIL ADVISORS: Placed Under Voluntary Wind-Up
---------------------------------------------
On December 10, 2010, the shareholders of Sail Advisors Trustee
Limited resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Yan-Yan Li
         Cheung Kong Centre, 57th Floor
         2 Queen's Road Central
         Hong Kong
         Telephone: 852 2826 9605
         Facsimile: 852 2810 1572


SHELTER COVE: Placed Under Voluntary Wind-Up
--------------------------------------------
On December 16, 2010, the sole shareholder of Shelter Cove Capital
Holdings resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 25, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

         Chi Foon Tsang
         Room 921-925, 9th Floor
         Sun Hung Kai Centre
         30 Harbour Road, Wan Chai
         Hong Kong
         Telephone: +852 2233 7466
         Facsimile: +852 2233 7401


THAMES RIVER: Creditors' Proofs of Debt Due February 5
------------------------------------------------------
The creditors of Thames River Equity Focus Fund are required to
file their proofs of debt by February 5, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on December 21,
2010.

The company's liquidator is:

         Ian D. Stokoe
         c/o Jodi Jones
         Telephone: (345) 914 8694
         Facsimile: (345) 945 4237
         P.O. Box 258, Grand Cayman KY1-1104
         Cayman Islands


VITA CAPITAL: Placed Under Voluntary Wind-Up
--------------------------------------------
On December 21, 2010, the shareholder of Vita Capital II Limited
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
January 22, 2011, will be included in the company's dividend
distribution.

The company's liquidators are:

         Connan Hill
         Bronwynne R. Arch
         Telephone: 949-7755
         Facsimile: 949-7634
         P.O. Box 1109, Grand Cayman KY-1102
         Cayman Islands


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


VITRO SAB: Appeal to Overturn Ruling to Dismiss Petition Rejected
-----------------------------------------------------------------
Thomas Black at Bloomberg News reports that Vitro, S.A.B. de C.V.
said that an appeal to overturn a judge's ruling to dismiss its
voluntary bankruptcy petition was rejected.  The company will seek
another appeal within three days, Vitro said in an e-mail
statement obtained by the news agency.

As reported in the Troubled Company Reporter-Latin America on
Jan. 26, 2011, Bloomberg News said that Vitro SAB Chief Executive
Officer Hugo Lara said the company filed an appeal in Mexican
court to challenge a ruling dismissing the company's voluntary
bankruptcy petition.  According to Bloomberg, Mr. Lara said it was
legal to use US$1.9 billion of intercompany debt to gain majority
support for a debt plan that was rejected by third-party
creditors.  A TCR-LA report on Jan. 12, 2011, citing Bloomberg
News, related that Vitro SAB said a Mexican judge rejected a
bankruptcy plan the company filed in a Monterrey court.  The
company plans to appeal the judge's decision to dismiss the
petition for bankruptcy, Vitro said in an e-mailed statement
obtained by the news agency.

                        About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Vitro is the largest manufacturer of glass containers and flat
glass in Mexico, with consolidated net sales in 2009 of MXN23,991
million (US$1.837 billion).

Vitro defaulted on its debt in 2009, and is now seeking to
restructure around US$1.5 billion in debt, including US$1.2
billion in notes.

Vitro launched an offer to buy back or swap US$1.2 billion in debt
from bondholders.  The tender offer would be consummated with a
bankruptcy filing in Mexico and Chapter 15 filing in the United
States.  Vitro said noteholders would recover as much as 73% by
exchanging existing debt for cash, new debt or convertible bonds.
The offer was to expire December 7.

Noteholders who oppose the exchange, namely Knighthead Master
Fund, L.P., Lord Abbett Bond-Debenture Fund, Inc., Davidson
Kempner Distressed Opportunities Fund LP, and Brookville Horizons
Fund, L.P. -- which hold US$75 million, or approximately 6% of the
outstanding bond debt -- commenced involuntary bankruptcy cases
under Chapter 11 of the U.S. Bankruptcy Code against Vitro Asset
Corp. (Bankr. N.D. Tex. Case No. 10-47470) and nine other
affiliates on November 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
Counsel to analyze the potential rights that Vitro may exercise in
the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders, known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has expressed
concerns over the exchange offer.  The group says the exchange
offer exposes Noteholders who consent to potential adverse
consequences that have not been disclosed by Vitro.  The group is
represented by John Cunningham, Esq., and Richard Kebrdle, Esq. at
White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are Vitro
Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case No. 10-
47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-47473);
Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-47474); Super
Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-47475); Super Sky
International, Inc. (Bankr. N.D. Tex. Case No. 10-47476); VVP
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47477); Amsilco
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478); B.B.O.
Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479); Binswanger
Glass Company (Bankr. N.D. Tex. Case No. 10-47480); Crisa
Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP Finance
Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP Auto Glass,
Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX Holdings, LLC
(Bankr. N.D. Tex. Case No. 10-47484); and Vitro Packaging, LLC
(Bankr. N.D. Tex. Case No. 10-47485).

Vitro SAB on December 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for Civil
and Labor Matters for the State of Nuevo Leon, thereby commencing
its voluntary concurso mercantil proceedings.  Vitro SAB believes
that, as a result of the implementation of the Concurso Plan
through the Mexican Proceeding, the holders of the Restructured
Debt will recover 68% to 75% of the face value of their respective
claims.

Vitro SAB also commenced parallel proceedings under Chapter 15 of
the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in
Manhattan on December 13, 2010, to seek U.S. recognition and
deference to its bankruptcy proceedings in Mexico.

Alejandro Francisco Sanchez-Mujica, as foreign representative of
Vitro, has asked the U.S. Bankruptcy Court to enter an order
recognizing the Mexican Proceeding as "foreign main proceeding"
pursuant to 11 U.S.C. Sections 1515 and 1517.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.


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


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------

Feb. 3-5, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Caribbean Insolvency Symposium
      Westin Casuarina Resort & Spa, Grand Cayman Island
         Contact: 1-703-739-0800; http://www.abiworld.org/

Feb. 24-25, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Valcon
      Four Seasons Las Vegas, Las Vegas, Nev.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 4, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Bankruptcy Battleground West
      Hyatt Regency Century Plaza, Los Angeles, Calif.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 7-9, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Conrad Duberstein Moot Court Competition
      Duberstein U.S. Courthouse, New York, N.Y.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Nuts and Bolts - Florida
      Tampa, Fla.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 10-12, 2011
AMERICAN BANKRUPTCY INSTITUTE
   SUCL/ Alexander L. Paskay Seminar on
   Bankruptcy Law and Practice
      Marriott Tampa Waterside, Tampa, Fla.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 17-19, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Byrne Judicial Clerkship Institute
      Pepperdine University School of Law, Malibu, Calif.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Mar. 31-Apr. 3, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Annual Spring Meeting
      Gaylord National Resort & Convention Center,
      National Harbor, Md.
         Contact: 1-703-739-0800; http://www.abiworld.org/

April 27-29, 2011
TURNAROUND MANAGEMENT ASSOCIATION
   TMA Spring Conference
      JW Marriott, Chicago, IL
         Contact: http://www.turnaround.org/

May 5, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Nuts and Bolts - New York City
      Association of the Bar of the City of New York,
      New York, N.Y.
         Contact: 1-703-739-0800; http://www.abiworld.org/

May 6, 2011
AMERICAN BANKRUPTCY INSTITUTE
   New York City Bankruptcy Conference
      Hilton New York, New York, N.Y.
         Contact: 1-703-739-0800; http://www.abiworld.org/

June 6, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Canadian-American Cross-Border Insolvency Symposium
      Fairmont Royal York, Toronto, Ont.
         Contact: 1-703-739-0800; http://www.abiworld.org/

June 9-12, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Central States Bankruptcy Workshop
      Grand Traverse Resort and Spa, Traverse City, Mich.
            Contact: http://www.abiworld.org/

July 21-24, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Northeast Bankruptcy Conference
      Hyatt Regency Newport, Newport, R.I.
         Contact: 1-703-739-0800; http://www.abiworld.org/

July 27-30, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Southeast Bankruptcy Workshop
      The Sanctuary at Kiawah Island, Kiawah Island, S.C.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 4-6, 2011
AMERICAN BANKRUPTCY INSTITUTE
   Mid-Atlantic Bankruptcy Workshop
      Hotel Hershey, Hershey, Pa.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 14, 2011
AMERICAN BANKRUPTCY INSTITUTE
   NCBJ/ABI Educational Program
      Tampa Convention Center, Tampa, Fla.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. __, 2011
AMERICAN BANKRUPTCY INSTITUTE
   International Insolvency Symposium
      Dublin, Ireland
         Contact: 1-703-739-0800; http://www.abiworld.org/

Oct. 25-27, 2011
TURNAROUND MANAGEMENT ASSOCIATION
   Hilton San Diego Bayfront, San Diego, CA
      Contact: http://www.turnaround.org/

Dec. 1-3, 2011
AMERICAN BANKRUPTCY INSTITUTE
   23rd Annual Winter Leadership Conference
      La Quinta Resort & Spa, La Quinta, Calif.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Apr. 19-22, 2012
AMERICAN BANKRUPTCY INSTITUTE
   Annual Spring Meeting
      Gaylord National Resort & Convention Center,
      National Harbor, Md.
         Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
AMERICAN BANKRUPTCY INSTITUTE
   Southeast Bankruptcy Workshop
      The Ritz-Carlton Amelia Island, Amelia Island, Fla.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
AMERICAN BANKRUPTCY INSTITUTE
   Mid-Atlantic Bankruptcy Workshop
      Hyatt Regency Chesapeake Bay, Cambridge, Md.
         Contact: 1-703-739-0800; http://www.abiworld.org/

Nov. 29 - Dec. 2, 2012
AMERICAN BANKRUPTCY INSTITUTE
   Winter Leadership Conference
      JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
         Contact: 1-703-739-0800; http://www.abiworld.org/



                            ***********

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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