TCRLA_Public/110207.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

             Monday, February 7, 2011, Vol. 12, No. 26

                            Headlines



B R A Z I L

BANCO SANTOS: U.S. Court Recognizes Proceedings in Brazil


C A Y M A N   I S L A N D S

AEDES FUND: Commences Liquidation Proceedings
BARRICK GOLD: Placed Under Voluntary Wind-Up
BG EXPLORER: Commences Liquidation Proceedings
BRIGADIER CAPITAL: Shareholders Receive Wind-Up Report
BUCHANAN SPC: Shareholders Receive Wind-Up Report

CAPITAL GUARDIAN: Commences Liquidation Proceedings
CAVALRY CLO II: Commences Liquidation Proceedings
CRYSTAL MANAGEMENT: Shareholders Receive Wind-Up Report
FORM LIMITED: Commences Liquidation Proceedings
GIS DIVERSIFIED: Shareholders Receive Wind-Up Report

MERCO TRADING: Commences Liquidation Proceedings
MKM LONGBOAT: Commences Liquidation Proceedings
PMA PATHFINDER: Commences Liquidation Proceedings
PMA PATHFINDER: Commences Liquidation Proceedings
R-ONE SHINSAIBASHI: Commences Liquidation Proceedings

RISTA TRADING: Commences Liquidation Proceedings
ROARING PROSPER: Members Receive Wind-Up Report
RUCO TRADING: Commences Liquidation Proceedings
SAINT GEORGE: Commences Liquidation Proceedings
SANDELMAN PARTNERS: Commences Liquidation Proceedings

SESTA TRADING: Commences Liquidation Proceedings
SFM INVESTMENTS: Shareholders Receive Wind-Up Report
SPIRIT LONG/SHORT: Shareholder Receives Wind-Up Report
STRATA 2006-33: Commences Liquidation Proceedings
TCHAIKA ADVISORS: Placed Under Voluntary Wind-Up

TCHAIKA RTT: Placed Under Voluntary Wind-Up
TRICO MARINE: U.S. Court Approves Sale of Three Vessels


G U Y A N A

GUYSUCO: Government Pledges US$5 Million to Boost Production


P U E R T O   R I C O

ABRAHAM PETROLEUM: Bankr. Court Abstains From Hearing Hassan Suit
FOUR LIONS: Files Schedules of Assets & Liabilities
FOUR LIONS: Section 341(a) Meeting Scheduled for Feb. 28
POPULAR INC: Banco Popular to Unload US$500 Million in Loans


X X X X X X X X

* BOND PRICING: For the Week January 31, to February 4, 2011


                            - - - - -


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


BANCO SANTOS: U.S. Court Recognizes Proceedings in Brazil
---------------------------------------------------------
On January 13, 2011, the U.S. Bankruptcy Court for the Southern
District of Florida granted the motion of Vanio Cesar Pickler, as
Trustee of Banco Santos S.A., seeking recognition of Banco Santos'
proceeding pending in the 2nd Bankruptcy Court of Sao Paulo,
Brazil, as a "foreign main proceeding" pursuant to 11 U.S.C.
1517(b)(1).

By virtue of the Court's recognition of Banco Santos' proceeding
in Brazil as a foreign main proceeding, among other things, all
persons and entities are stayed from executing against the assets
of Banco Santos located in the United States.

A copy of the Bankruptcy Court's order is available for free at:

    http://bankrupt.com/misc/BancoSantos.recognitionorder.pdf

                 Liquidation Proceeding in Brazil

As reported in the Troubled Company Reporter on December 14, 2010,
Banco Santos was a prominent bank in Brazil, until events
beginning around the end of 2004 eventually led to the bank being
liquidated in 2005.  On November 12, 2004, the Central Bank of
Brazil felt compelled to intervene after it appeared that Banco
Santos was facing insolvency due to an apparent deficit of
hundreds of millions of reals.  The insolvency was suspected to
have been the result of unscrupulous dealings by Edemar Cid
Ferreira, the former head of Banco Santos, as well as others of
Banco Santos' officers and directors.

Brazilian investigators believe that Mr. Ferreira, with the help
of his wife, son, and others, set up a series of holding companies
and trusts linked substantially to one bank and one offshore
company they apparently controlled -- Bank of Europe in Antigua
and Alsace Lorraine Investment Services Ltd. in the British Virgin
Islands.  Utilizing these offshore vehicles, Banco Santos would
encourage, and in some cases require, investors to deposit cash in
favor of the Bank of Europe in Antigua as collateral for loans in
Brazil.

Eventually the scheme began to unravel, leading Banco Santos to
take measures such as raising cash by selling junk bonds to the
offshore vehicles.  Millions of dollars (or reals) invested
offshore were misappropriated by Mr. Ferreira, including spending
on a lavish art collection valued in the tens of millions of
dollars.  In addition, Mr. Ferreira lives in a residence in Sao
Paulo that he remodeled circa 2003-2004 at the expense of some
US$60 million, which is owned by two of the Related Entities,
whose shares in turn are owned by offshore vehicles.

As a result of his complicity in the collapse of Banco Santos,
Mr. Ferreira was charged by Brazil's federal police with financial
crimes and money laundering, among other things.  He was
eventually convicted and sentenced to 21 years in prison.  He
remains out of prison on bail pending an appeal.  Other persons
associated with Banco Santos also were charged with crimes and
convicted.

On May 4, 2005, Banco Santos was placed into extra-judicial
liquidation, which is a precursor to full bankruptcy under
Brazilian law.  On September 20, 2005, the Brazilian Court issued
an Order converting the extra-judicial liquidation into a full,
court-supervised bankruptcy, and also appointed the Trustee as
Judicial Administrator of Banco Santos.

The Banco Santos Proceeding remains pending and the Trustee is
overseeing efforts to identify, locate, and capture assets
belonging to the estate and the Related Parties.

Today, the Estate of Banco Santos has 1,969 creditors and debts of
about BRL$2.4 billion (around US$1.4 billion).  The total of Banco
Santos' proven assets recovered by the Trustee to date, however,
is BRL900 million (approximately US$530 million).  Based on the
Trustee's investigation, information from the Brazilian
investigators, and other sources, the Trustee believes that a
significant amount of assets were diverted by Mr. Ferreira and/or
others prior to the Central Bank's intervention.

The Trustee desires to proceed with an investigation into the
assets of Banco Santos and of the Related Entities, including, for
example, as to assets that are in the U.S. or that were
transferred through the U.S., as well as transactions involving
Banco Santos and the Related Entities with persons or entities
located in the U.S.

                         About Banco Santos

Vanio Cesar Pickler Aguiar, as foreign representative for Sao
Paulo, Brazil-based Banco Santos S.A., filed a Chapter 15 petition
(Bankr. S.D. Fla. Case No. 10-47543) in Miami, Florida.

The Chapter 15 petition estimates that the Debtor has assets of
US$500 million to US$1 billion and debts of more than US$1
billion.  Gregory S. Grossman, Esq., in Miami, Florida, represents
the Trustee in the Chapter 15 case.  The Trustee is also
represented by:

          Astigarraga Davis, Esq.
          MULLINS & GROSSMAN P.A.
          701 Brickell Avenue, 16th Floor
          Miami, Florida 33131
          Tel: (305) 372-8282
          Fax: (305) 372-8202
          E-mail: ggrossman@astidavis.com
                  edavis@astidavis.com


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


AEDES FUND: Commences Liquidation Proceedings
---------------------------------------------
On December 24, 2010, the shareholders of Aedes Fund SPC passed a
resolution that voluntarily liquidates the company's business.

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


BARRICK GOLD: Placed Under Voluntary Wind-Up
--------------------------------------------
On December 17, 2010, the sole shareholder of Barrick Gold Mines
(SA) Ltd. passed a resolution that voluntarily winds 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:

         Stephen Galbraith
         P.O. Box 1395, First Floor, Enfield House
         Upper Collymore Rock
         St. Michael
         Barbados
         Telephone: +246 430 8801
         Facsimile: +246 437 8860


BG EXPLORER: Commences Liquidation Proceedings
----------------------------------------------
On December 3, 2010, the sole shareholder of BG Explorer Fund
Limited passed a resolution that voluntarily liquidates the
company's business.

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:

         Boussard & Gavaudan Asset Management, L.P.
         Calder House, 1 Dover Street
         London
         United Kingdom W1S 4LA


BRIGADIER CAPITAL: Shareholders Receive Wind-Up Report
------------------------------------------------------
On January 28, 2011, the shareholders of Brigadier Capital
Offshore Fund Ltd. received 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


BUCHANAN SPC: Shareholders Receive Wind-Up Report
-------------------------------------------------
On January 28, 2011, the shareholders of Buchanan SPC received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


CAPITAL GUARDIAN: Commences Liquidation Proceedings
---------------------------------------------------
On December 21, 2010, the sole shareholder of Capital Guardian
High Yield CBO I Limited passed a resolution that voluntarily
liquidates the company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


CAVALRY CLO II: Commences Liquidation Proceedings
-------------------------------------------------
On December 21, 2010, the sole shareholder of Cavalry CLO II,
Limited passed a resolution that voluntarily liquidates the
company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


CRYSTAL MANAGEMENT: Shareholders Receive Wind-Up Report
-------------------------------------------------------
On January 14, 2011, the shareholders of Crystal Management Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

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


FORM LIMITED: Commences Liquidation Proceedings
-----------------------------------------------
On December 23, 2010, the sole shareholder of Form Limited passed
a resolution that voluntarily liquidates the company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


GIS DIVERSIFIED: Shareholders Receive Wind-Up Report
----------------------------------------------------
On January 26, 2011, the shareholders of GIS Diversified Fund,
Ltd. received 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


MERCO TRADING: Commences Liquidation Proceedings
------------------------------------------------
On December 21, 2010, the shareholders of Merco Trading Ltd.
passed a resolution that voluntarily liquidates the company's
business.

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:

         Christopher D. Johnson
         c/o Russell Homer
         Telephone: (345) 946-0820
         Facsimile: (345) 946-0864
         P.O. Box 2499
         George Town KY1-1104, Grand Cayman
         Cayman Islands


MKM LONGBOAT: Commences Liquidation Proceedings
-----------------------------------------------
On December 22, 2010, the shareholders of MKM Longboat Capital
Advisors (Cayman) Limited passed a resolution that voluntarily
liquidates 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 liquidators are:

         Roy Bailey
         Robin Lee Mcmahon
         c/o Barry MacManus
         Telephone: (345) 814 8997
         Facsimile: (345) 814 8529
         Ernst & Young Ltd
         62 Forum Lane, Camana Bay
         P.O. Box 510, Grand Cayman KY1-1106
         Cayman Islands


PMA PATHFINDER: Commences Liquidation Proceedings
-------------------------------------------------
On December 22, 2010, the sole shareholder of PMA Pathfinder Asia
Equity Fund passed a resolution that voluntarily liquidates the
company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


PMA PATHFINDER: Commences Liquidation Proceedings
-------------------------------------------------
On December 22, 2010, the sole shareholder of PMA Pathfinder Asia
Equity Feeder Fund passed a resolution that voluntarily liquidates
the company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


R-ONE SHINSAIBASHI: Commences Liquidation Proceedings
-----------------------------------------------------
On December 23, 2010, the sole shareholder of R-One Shinsaibashi
Holding Ltd. passed a resolution that voluntarily liquidates the
company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


RISTA TRADING: Commences Liquidation Proceedings
------------------------------------------------
On December 21, 2010, the shareholders of Rista Trading and
Finance Corporation passed a resolution that voluntarily
liquidates the company's business.

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:

         Christopher D. Johnson
         c/o Russell Homer
         Telephone: (345) 946-0820
         Facsimile: (345) 946-0864
         P.O. Box 2499
         George Town KY1-1104, Grand Cayman
         Cayman Islands


ROARING PROSPER: Members Receive Wind-Up Report
-----------------------------------------------
On January 20, 2011, the members of Roaring Prosper Limited
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


RUCO TRADING: Commences Liquidation Proceedings
-----------------------------------------------
On December 21, 2010, the shareholders of Ruco Trading Ltd. passed
a resolution that voluntarily liquidates the company's business.

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:

         Christopher D. Johnson
         c/o Russell Homer
         Telephone: (345) 946-0820
         Facsimile: (345) 946-0864
         P.O. Box 2499
         George Town KY1-1104, Grand Cayman
         Cayman Islands


SAINT GEORGE: Commences Liquidation Proceedings
-----------------------------------------------
On December 23, 2010, the shareholders of Saint George SPC passed
a resolution that voluntarily liquidates 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:

         K.D. Blake
         PO Box 493, Grand Cayman KY1-1106
         Cayman Islands
         c/o Lauren Christie
         Telephone: 345-815-2663
         Facsimile: 345-949-7164
         P.O. Box 493, Grand Cayman KY1-1106
         Cayman Islands
         Telephone: 345-949-4800
         Facsimile: 345-949-7164


SANDELMAN PARTNERS: Commences Liquidation Proceedings
-----------------------------------------------------
On December 22, 2010, the sole shareholder of Sandelman Partners
Opportunity Fund Limited passed a resolution that voluntarily
liquidates 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 liquidators are:

         Roy Bailey
         Robin Lee Mcmahon
         c/o Barry MacManus
         Telephone: (345) 814 8997
         Facsimile: (345) 814 8529
         Ernst & Young Ltd
         62 Forum Lane, Camana Bay
         P.O. Box 510, Grand Cayman KY1-1106
         Cayman Islands


SESTA TRADING: Commences Liquidation Proceedings
------------------------------------------------
On December 21, 2010, the shareholders of Sesta Trading and
Finance Corporation passed a resolution that voluntarily
liquidates the company's business.

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:

         Christopher D. Johnson
         c/o Russell Homer
         Telephone: (345) 946-0820
         Facsimile: (345) 946-0864
         P.O. Box 2499
         George Town KY1-1104, Grand Cayman
         Cayman Islands


SFM INVESTMENTS: Shareholders Receive Wind-Up Report
----------------------------------------------------
On February 4, 2011, the shareholders of SFM Investments LDC
received 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


SPIRIT LONG/SHORT: Shareholder Receives Wind-Up Report
------------------------------------------------------
On January 25, 2011, the sole shareholder of Spirit Long/Short
Equity Holdings Ltd. received 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


STRATA 2006-33: Commences Liquidation Proceedings
-------------------------------------------------
On December 23, 2010, the sole shareholder of Strata 2006-33,
Limited passed a resolution that voluntarily liquidates the
company's business.

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:

         Marc Randall
         c/o Maples Liquidation Services (Cayman) Limited
         P.O. Box 1093, Boundary Hall
         Grand Cayman KY1-1102
         Cayman Islands


TCHAIKA ADVISORS: Placed Under Voluntary Wind-Up
------------------------------------------------
On December 24, 2010, the members of Tchaika Advisors Limited
passed a resolution that voluntarily winds 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


TCHAIKA RTT: Placed Under Voluntary Wind-Up
-------------------------------------------
On December 24, 2010, the members of Tchaika RTT Investment
Management Ltd. passed a resolution that voluntarily winds 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


TRICO MARINE: U.S. Court Approves Sale of Three Vessels
-------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Trico Marine Services, Inc., and its debtor affiliates to sell
three vessels to the successful bidders in an auction held
January 24, 2011.

The Debtors previously notified the Court the successful and back-
up bidders with respect to the sale of three vessels:

                 Successful                  Back-Up
Vessel          Bidder           Offer      Bidder       Offer
------          ----------    ----------    -------   ----------
Buffalo River   Sea Lyon      US$195,000    Blanco    US$190,000
                 Marine Inc.                 Offshore
                                             Logistics
                                             SA de C.V.

James River     Arfersi         $820,000    Olmeca     $800,000
                 SA de C.V.                  SA de C.V.

Pearl River     Naviera         $695,000    Blanco     $680,000
                 Mexicana                    Offshore
                 Neptuno                     Logistics
                 SA de C.V.                  SA de C.V.

Each of the Vessels is being sold "as is, where is," and closing
is to occur whenever the Debtors are in a position to close.  A
deposit of 20% of the final purchase price was to be made by
January 27, 2011, by the Successful Bidder and the Back-Up Bidder.

The Court also approved the payment of a break-up fee of US$15,000
to Blanco Offshore Logistics, S.A. de C.V., the back-up bidder for
the Pearl River, payable at the closing of the sale from the sale
proceeds.

In a separate order, the Court also authorized the Debtors to sell
the Hondo River and the Spirit River to Odyssea Vessels, Inc.  On
January 24, Odyssea Vessels offered to purchase the Hondo
River and Spirit River for US$13,000,000, en bloc, from the
Debtors.  After consultation with the official committee of
unsecured creditors, Obsidian Agency Services, Inc., as agent
under the senior secured, super-priority debtor-in-possession
credit agreement dated August 24, 2010, and holders of the
Debtors' 8.125% notes, the Debtors accepted the offer from Odyssea
as the highest and best offer for the Vessels.

On the closing date of the sale of the Buffalo River, James River
and Pearl River vessels, the buyer is directed to wire all sale
proceeds, less a certain "MARAD payoff," the Hondo Deposit and the
Spirit Deposit to an escrow at Wilmington Trust Company.

At or prior to the closing date, the Debtors will provide The Bank
of Mellon Trust Company, N.A., as successor indenture trustee,
with 40 to 60 days' notice of the redemption of all remaining
MARAD Notes.

The buyer will wire to BNY Mellon, an amount equal to all of the
outstanding principal of US$4,400,000, plus estimated interest and
BNY Mellon's reasonable fee and expenses, estimated to be
US$155,489, under the US$18,900,000 of notes due in 2014 and
secured by the first priority liens of MARAD.

In addition, from the sale proceeds deposited into the escrow on
the closing date, the Debtors will reserve a good-faith estimate
of the make-whole premium asserted by BNY Mellon in connection
with the payment of the MARAD Notes, estimated to be US$535,000.

                         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.

The Official Committee of Unsecured Creditors tapped Laura Davis
Jones, Esq., and Timothy P. Cairns, Esq., at Pachulski, Stang,
Ziehl & Jones LLP, in Wilmington, Delaware, and Andrew K. Glenn,
Esq., David J. Mark, Esq., and Daniel A. Fliman, Esq., at
Kasowitz, Benson, Torres & Friedman LLP, in New York, as counsel.


===========
G U Y A N A
===========


GUYSUCO: Government Pledges US$5 Million to Boost Production
------------------------------------------------------------
The Associated Press reports that the government of Guyana said it
will give Guyana Sugar Corporation (Guysuco) a US$5 million grant
to spur production following last year's large-scale strikes and
heavy rains.

Agriculture Minister Robert Persaud said that the money will be
used to pay production incentives to workers who qualify,
according to Associated Press.

The report notes that disputes between workers and the Guyana
Sugar Corporation in 2010, led to strikes and the lowest
production in a decade of only 219,000 tons (199,000 metric tons).
The Associated Press relates that Guysuco owes commercial banks
and other creditors about US$15 million and has been struggling to
pay salaries.

As reported in the Troubled Company Reporter-Latin America on
December 18, 2009, Caribbean Net News said that sugar workers at
all sugar estates across Guyana went on strike in protest of a 3%
pay increase they are set to receive from the Guyana Sugar
Corporation for 2009 which will be paid in 2010.  According to the
report, an arbitration panel ruled that the workers should receive
the 3% increase that they are demanding.  However, the report
related, the corporation said it cannot make this payment.

                       About Guysuco

The Guyana Sugar Corporation -- http://www.guysuco.com/-- is a
Guyanese sugar company owned by the government.  It is the
country's largest cultivator and producer of sugar, a commodity
which is responsible for approximately 20% of Guyana's annual
revenue and 40% of all agricultural production.   They are also
notable of Demerara Sugar, and also honey and sweetners.


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


ABRAHAM PETROLEUM: Bankr. Court Abstains From Hearing Hassan Suit
-----------------------------------------------------------------
Judge Enrique S. Lamoutte of the U.S. Bankruptcy Court for the
District of Puerto Rico granted the Defendant's request to dismiss
the lawsuit entitled Abraham Petroleum Corp., v. Hassan and Sons
Corp., Adv. Pro. No. 10-0015 (Bankr. D. P.R.).  Judge Lamoutte
said discretionary abstention is warranted in the case because,
(1) the Plaintiffs' claims are based entirely on state law, (2)
there is an open and ongoing state court proceeding available to
Debtor Abraham Petroleum, and (3) the Plaintiffs' resort to the
Bankruptcy Court in this case at this time can be viewed as forum
shopping.  The claims for relief alleged in the complaint wholly
revolve upon matters of local law, and resolution would not
involve any issues of bankruptcy law, the Court noted.  Therefore,
discretionary abstention in favor of the state courts is
appropriate, the Court held.  Notwithstanding, any monetary award
against the Debtor must be channeled through the bankruptcy
proceeding, Judge Lamoutte opined.

On February 8, 2010, the Debtor filed a complaint against the
Defendant for recovery of property, eviction, breach of contract,
collection of money and damages.  The complaint is premised on the
breach of a lease and supply agreement entered into by the Debtor
with the Defendant on March 30, 2008, for the use by the Defendant
of the Debtor's service station at Barrio Hato Abajo, Arecibo,
Puerto Rico.  The Defendant agreed to operate the service station
and purchase fuel from the Debtor.  The complaint alleges that the
Defendant failed to pay for rent and merchandise since February
2009.  Additionally, the Defendant failed to pay the amounts
corresponding to partial payments of the "key" or right to
operate.  Also, the complaint alleges breach of a sub lease
agreement executed on May 1, 2007, between the Debtor and the
Defendant for the use of real property located at Urbanizacion San
Fernando in Bayamon, Puerto Rico, in which the Defendant agreed to
operate the service station and purchase products from the Debtor.
The Debtor notified the Defendant of its decision to rescind or
cancel both contracts.  The complaint includes six causes of
action: breach of contract and eviction; debt collection;
temerity; dispossession of premises and equipment; indemnification
and damages; general damages; and attorney's fees and expenses.

The Defendant filed a motion to dismiss the complaint, alleging
that it filed a state court action against the Debtor on Feb. 20,
2009, before the Superior Court of Bayamon based on the same
allegations and therefore, the Bankruptcy Court should abstain
from those proceedings.  The state court complaint filed against
the Debtor raises five causes of action: cancellation of supply
contract; cancellation of the lease of the property at Urb. San
Fernando, Bayamon; cancellation of the lease of the property at
Barrio Hato Abajo, Arecibo; cancellation of the sales contract of
the going concern located at Urb. San Fernando; and cancellation
of the sales contract of the going concern located at Barrio Hato
Abajo.  The Defendant filed a proof of claim in the Debtor's
bankruptcy case for US$3,775,000.

A copy of the Bankruptcy Court's February 2, 2011 Opinion and
Order is available at http://is.gd/qA9sUdfrom Leagle.com

                     About Abraham Petroleum

Based in Dorado, Puerto Rico, Abraham Petroleum Corporation filed
for Chapter 11 bankruptcy (Bankr. D. P.R. Case No. 09-05928) on
July 17, 2009.  Charles Alfred Cuprill, Esq., in San Juan, Puerto
Rico, served as bankruptcy counsel.  In its petition, the Debtor
estimated US$1 million to US$10 million in both assets and debts.


FOUR LIONS: Files Schedules of Assets & Liabilities
---------------------------------------------------
Four Lions Corp. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico its schedules of assets and liabilities,
disclosing:

  Name of Schedule                     Assets         Liabilities
  ---------------                      ------         -----------
A. Real Property                  US$17,955,000                 -
B. Personal Property                        $0                  -
C. Property Claimed as
   Exempt                                    -                  -
D. Creditors Holding
   Secured Claims                            -      US$24,659,046
E. Creditors Holding
   Unsecured Priority
   Claims                                    -            $62,658
F. Creditors Holding
   Unsecured Non-priority
   Claims                                    -         $14,484,587
                                   -----------         -----------
      TOTAL                      US$17,955,000       US$39,206,291

A copy of Four Lions' Schedules of Assets & Liabilities is
available for free at http://bankrupt.com/misc/FOUR_LIONS_sal.pdf

San Juan, Puerto Rico-based Four Lions Corp. filed for Chapter 11
bankruptcy protection on January 24, 2011 (Bankr. D. P.R. Case No.
11-00419).  Alexis Fuentes Hernandez, Esq., at the Fuentes Law
Offices, serves as the Debtor's bankruptcy counsel.


FOUR LIONS: Section 341(a) Meeting Scheduled for Feb. 28
--------------------------------------------------------
The U.S. Trustee for Region 21 will convene a meeting of Four
Lions Corp.'s creditors on February 28, 2011, at 1:00 p.m.  The
meeting will be held at Ochoa Building, 500 Tanca Street, First
Floor, San Juan, Puerto Rico.

This is the first meeting of creditors required under Section
341(a) of the U.S. Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
Meeting of Creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

San Juan, Puerto Rico-based Four Lions Corp. filed for Chapter 11
bankruptcy protection on January 24, 2011 (Bankr. D. P.R. Case No.
11-00419).  Alexis Fuentes Hernandez, Esq., at the Fuentes Law
Offices, serves as the Debtor's bankruptcy counsel.  According to
its schedules, the Debtor disclosed US$17,955,000 in total assets
and US$39,206,291 in total debts.


POPULAR INC: Banco Popular to Unload US$500 Million in Loans
------------------------------------------------------------
Caribbean Business reports that Popular, Inc. is moving to unload
a big chunk of non-performing construction and commercial real
estate loans as it works to jettison problem assets that have
weighed down earnings at Banco Popular de Puerto Rico for two
years.

Banco Popular de Puerto Rico has signed a non-binding letter of
intent to sell approximately US$500 million (book value) of
construction and commercial real estate loans to a newly created
joint venture, according to Caribbean Business.  The report
relates that the loans, approximately 75% are categorized as non-
performing, will go for a purchase price equal to 47% of their
unpaid principal balance as of December 31, 2010.

Caribbean Business notes that the loans are part of a portfolio of
approximately US$610 million (book value) of construction,
commercial real estate and land loans that were reclassified as
loans held-for-sale as of December 31, 2010.  The unpaid principal
balance of the loans does not reflect any charge-offs previously
taken by the corporation, which are reflected in their book value,
the report relates.

In addition, on December 31, 2010, Popular's U.S. banking
subsidiary, Banco Popular North America, reclassified
approximately US$395 million (book value) of U.S. non-conforming
residential mortgage loans as loans available-for-sale and is
pursuing potential loan sales alternatives, Caribbean Business
recounts.

The report says that the reclassification of the U.S. and Puerto
Rico portfolios will negatively impact pre-tax, fourth-quarter
earnings by approximately US$190 million.

Caribbean Business discloses that as part of the Puerto Rico
transaction, Banco Popular de Puerto Rico will make a 24.9% equity
investment in the venture.  The report relates that Banco Popular
will also provide financing to the venture for the acquisition of
the loans in an amount equal to 50% of the purchase price and
certain closing costs.  In addition, Banco Popular will provide
financing to the venture to cover unfunded commitments related to
certain construction projects (subject to customary conditions of
construction draws) and to fund certain operating expenses of the
venture, the report notes.

The transaction, which is subject to the completion of due
diligence and the execution of definitive documentation, as well
as customary closing conditions, is expected to close during the
first quarter of 2011, Caribbean Business adds.

                        About Popular Inc.

Popular, Inc. is a bank holding company that provides commercial
banking services through branches in Puerto Rico, the British
Virgin Islands, the Dominican Republic, and the United States
mainland.  The company also provides mortgage and consumer
finance, lease financing, investment banking and broker/dealer
activities, retail financial services, and automated tellers.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
January 22, 2011, the company continues to carry Standard and
Poor's "B" long-term issuer credit ratings and "C" short-term
credit ratings.


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


* BOND PRICING: For the Week January 31, to February 4, 2011
------------------------------------------------------------

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


ARGENTINA
---------

ARGENT-DIS          5.83    12/31/2033    ARS              187.5
ARGENT-PAR          1.18    12/31/2038    ARS              72.5
ARGENT-DIS          4.33    12/31/2033    JPY              42
ARGENT-PAR&GDP      0.45    12/31/2038    JPY               8
BANCO MACRO SA     10.75    6/7/2012      USD              74.8
BODEN 2014          2       9/30/2014     ARS              39.5
BOGAR 2018          2       2/4/2018      ARS             164.1

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

BANCO BPI (CI)     4.15     11/14/2035    EUR               52.3
BANIF FIN LTD      3        12/31/2019    EUR               66.3
BCP FINANCE BANK   5.01      3/31/2024    EUR               56.7
BCP FINANCE BANK   5.31     12/10/2023    EUR               59.4
BCP FINANCE CO     4.2                    EUR               49.9
BCP FINANCE CO     5.5                    EUR               47.6
BES FINANCE LTD    5.5                    EUR               48.0
BES FINANCE LTD    4.5                    EUR               52.3
BES FINANCE LTD    6.9       2/7/2035     EUR               57.0
BES FINANCE LTD    6.6                    EUR               62.4
CHINA FORESTRY     7.75     11/17/2015    USD               91
EFG ORA FUNDING    1.7      10/29/2014    EUR               61.6
ESFG INTERNATION   5.7                    EUR               53.5
IMCOPA INTL CAYM  10.3      12/16/2014    USD               38
PUBMASTER FIN      6.9       6/30/2028    GBP               49
PUBMASTER FIN      8.4       6/30/2025    GBP               54.6

CHILE
-----

AGUAS NUEVAS      3.4        5/15/2012    CLP                 0.8
CGE DISTRIBUCION  3.2        12/1/2012    CLP                39.1
ESVAL S.A.        3.8        7/15/2012    CLP                37.1
MASISA            4.2       10/15/2012    CLP                40.0


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

PUERTO RICO CONS  6.5         4/1/2016    USD                50

VENEZUELA
---------

PETROLEOS DE VEN   5.5         4/12/2037   USD               44.7
PETROLEOS DE VEN   5.3         4/12/2027   USD               45.9
PETROLEOS DE VEN   5.1         10/28/2016  USD               56.4
PETROLEOS DE VEN   5.2          4/12/2017  USD               56.9
PETROLEOS DE VEN   5           10/28/2015  USD               59.7
PETROLEOS DE VEN   4.9         10/28/2014  USD               65.4
PETROLEOS DE VEN   8.5         11/2/2017   USD               67.5
PETROLEOS DE VEN   8.5         11/2/2017   USD               66.7
VENEZUELA          7           3/31/2038   USD               55.2
VENEZUELA          7           3/31/2038   USD               56.1
VENEZUELA          6           12/9/2020   USD               58.6
VENEZUELA          7.6         4/21/2025   USD               60.8
VENEZUELA          8.2        10/13/2024   USD               64
VENEZUELA          7           12/1/2018   USD               66.5
VENEZUELA          9.2          5/7/2028   USD               67.2
VENEZUELA          7.7        10/13/2019   USD               67.1
VENEZUELA          9           5/7/2023    USD               67.8
VENEZUELA          9.2        9/15/2027    USD               71.1
VENEZUELA          5.7        2/26/2016    USD               71
VENEZUELA          9.2        9/15/2027    USD               73.0
VENZOD - 189000    9.3        1/13/2034    USD               67.6



                            ***********

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 * * *