/raid1/www/Hosts/bankrupt/TCRLA_Public/110419.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, April 19, 2011, Vol. 12, No. 77

                            Headlines



B E R M U D A

DAVIAK BERMUDA: Creditors' Proofs of Debt Due April 27
DAVIAK BERMUDA: Members' Final Meeting Set for May 18
GLOBAL CROSSING: STT Crossing Discloses 60.2% Equity Stake
GLOBAL CROSSING: Extends Term of KMPP to December 2012
GLOBAL CROSSING: Inks Pact & Plan of Amalgamation With Level 3

MUSCAT IP 320: Creditors' Proofs of Debt Due April 27
MUSCAT IP 320: Member to Receive Wind-Up Report on May 16
SAGE LTD: Creditors' Proofs of Debt Due April 27
SAGE LTD: Members' Final Meeting Set for May 25


C A Y M A N  I S L A N D S

ABCHURCH EUROPE: Shareholders' Final Meeting Set for April 26
ABCHURCH EUROPE: Shareholders' Final Meeting Set for April 26
ABSOLUTE INSIGHT: Shareholders' Final Meeting Set for May 12
AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13
AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13

AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13
EDDINGTON SPC: Shareholders' Final Meeting Set for May 13
GOLDEN GATE: Shareholders' Final Meeting Set for May 13
KBAL II: Shareholders' Final Meeting Set for May 13
LYDIAN OVERSEAS: Shareholders' Final Meeting Set for May 13

RISTORANTE LTD: Shareholders Receive Wind-Up Report
SIMJA LTD: Members' Final Meeting Set for May 2
THL CAYMAN: Shareholders' Final Meeting Set for May 13
THL FUND: Shareholders' Final Meeting Set for May 13
THL PARALLEL: Shareholders' Final Meeting Set for May 13


J A M A I C A


AIR JAMAICA: Gov't To Buy Kingston Building for $200 Million
SUGAR CO: Gov't Allocates More Than $2.7B for Legacy Payments


P U E R T O  R I C O

BLANCO VELEZ: Case Summary & 20 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

URBAN DEV'T: Gov't To Provide Guarantee for First Citizens Loan


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                            - - - - -


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


DAVIAK BERMUDA: Creditors' Proofs of Debt Due April 27
------------------------------------------------------
The creditors of Daviak Bermuda Limited are required to file their
proofs of debt by April 27, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on April 8, 2011.

The company's liquidator is:

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


DAVIAK BERMUDA: Members' Final Meeting Set for May 18
-----------------------------------------------------
The members of Daviak Bermuda Limited will hold their final
meeting on May 18, 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 wind-up proceedings on April 8, 2011.

The company's liquidator is:

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


GLOBAL CROSSING: STT Crossing Discloses 60.2% Equity Stake
----------------------------------------------------------
In an amended Schedule 13D filing with the U.S. Securities and
Exchange Commission, Temasek Holdings (Private) Limited, Singapore
Technologies Telemedia Pte Ltd, STT Communications Ltd, and STT
Crossing Ltd disclosed that they beneficially own 47,351,431
shares of common stock of Global Crossing Limited representing
60.2% of the shares outstanding.  The number of shares is
comprised of 29,351,431 common shares, par value $.01 per share
and 18,000,000 common shares issuable upon conversion of senior
preferred shares, par value $.10 per share The number of shares of
the Company's common stock, par value $0.01 per share, outstanding
as of Feb. 17, 2011, was 60,687,946.

On April 10, 2011, the Company entered into an Agreement and Plan
of Amalgamation with Level 3 Communications, Inc., a Delaware
corporation, and Apollo Amalgamation Sub, Ltd., a Bermuda exempted
limited liability company and wholly-owned subsidiary of Parent.
Under the terms of the Amalgamation Agreement, Amalgamation Sub
and the Company will amalgamate pursuant to the Companies Act
1981 of Bermuda and will continue as a Bermuda exempted limited
liability company as a result of the amalgamation.  At the
effective time of amalgamation, each outstanding share of (i) the
Common Shares of the Company will be exchanged for 16 fully paid
and nonassessable shares of common stock, par value $0.01 per
share, of Parent and (ii) the convertible preferred shares of the
Company will be exchanged for 16 fully paid and nonassessable
shares of Parent Common Stock, plus any unpaid dividends payable
thereon.

Concurrently with the execution of the Amalgamation Agreement,
STT Crossing Ltd and Parent entered into a Voting Agreement,
dated as of April 10, 2011, pursuant to which, among others, STT
Crossing agreed, subject to certain limited exceptions set forth
in the Voting Agreement, to (i) vote in favor of adopting the
Amalgamation Agreement and (ii) restrict its ability to transfer,
sell or otherwise dispose of, grant proxy to or permit pledge or
any other encumbrance on the Common Shares or the Convertible
Preferred Shares.

On April 10, 2011, as required by the Certificate of Designation
of the Convertible Preferred Shares, STT Crossing provided a
unanimous written consent for the Company to enter into the
Amalgamation Agreement, subject to certain conditions.  The
Company acknowledged and agreed to the terms and conditions set
forth in the Consent.

To be effective upon closing of the Amalgamation Agreement,
Parent and STT Crossing entered into a Stockholder Rights
Agreement, dated as of the Transaction Date, pursuant to which:
(i) STT Crossing shall have the right to designate a certain
number of directors to the board of directors of Parent; (ii) STT
Crossing agreed to limit, in certain respects, the offer, pledge,
sale or acquisition of any shares of common stock or other
securities of Parent for certain specified periods as set forth
in the Stockholder Rights Agreement; and (iii) Parent granted
STT Crossing certain registration rights and agreed to offer new
equity interests in the Parent to STT Crossing for the same price
and on the same terms as such new equity interests are proposed
to be offered to others.  In accordance with the terms of the
Stockholder Rights Agreement, STT Crossing will have the right to
designate and have appointed, as of the Closing, between three to
five directors, depending on the size of the board of directors of
the Parent at Closing.  The Stockholder Rights Agreement provides
that, following the Closing, STT Crossing will have the right to
nominate the number of directors for Parent's board of directors
that is proportionate to its percentage share ownership of Parent
Common Stock.  However, STT Crossing will have the right to
nominate (i) at least two directors as long as it owns at least
15% of the outstanding Parent Common Stock and (ii) at least one
director as long as it owns at least 10% of the outstanding Parent
Common Stock.

A full-text copy of the filing is available for free at:

                        http://is.gd/aKY5Dc

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
-- http://www.globalcrossing.com/-- is a global IP, Ethernet,
data center and video solutions provider with the world's first
integrated global IP-based network.

The Company's balance sheet at Dec. 31, 2010 showed $2.31 billion
in total assets, $2.79 billion in total liabilities and
$477 million in total stockholders' deficit.

Global Crossing Limited reported a consolidated net loss of
$172 million on $2.609 billion of consolidated revenue for the
twelve months ended Dec. 31, 2010, compared with a net loss of
$141 million on $2.159 billion of revenue during the prior year.

                           *     *     *

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.  S&P assigned its 'CCC+' issue-level
rating and '6' recovery rating to Global Crossing's proposed
$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.


GLOBAL CROSSING: Extends Term of KMPP to December 2012
------------------------------------------------------
The Amended and Restated Global Crossing Limited Key Management
Protection Plan was amended to extend the term of the plan from
Dec. 31, 2011 to Dec. 31, 2012.  The KMPP is intended to retain
executive officers and other key executives of Global Crossing
Limited by mitigating their concerns about financial hardship in
the event of an involuntary termination without "cause" or a
voluntary termination with "good reason".  The KMPP provides
enhanced severance benefits for the executive officers and certain
other key employees of the Company named in the KMPP.
Specifically, if a participant's employment were terminated by the
Company, or if he or she were to terminate employment for "good
reason", the KMPP entitles him or her to receive:

   (i) a lump sum payment equal to the "severance multiplier" of
       one or two times the sum of his or her annual base salary
       plus target bonus opportunity;

  (ii) a prorated portion of the annual target bonus for the year
       in which the termination occurred, subject to minimum
       target bonus amounts established for purposes of
       calculating severance;

(iii) continuation of life and health insurance coverages for a
       number of years equal to the "severance multiplier"; and

  (iv) payment for outplacement services in an amount not to
       exceed 30% of his or her base salary All executive officers
       for whom disclosure was required in the Company's proxy
       statement for its 2010 Annual General Meeting of
       Shareholders pursuant to Item 402(c) of Regulation S-K are
       participants in the KMPP at a "severance multiplier" of
       two, except for CEO John Legere, whose severance
       arrangements are set forth in his employment agreement with
       the Company.

                 Amendment of 2011 Discretionary
                     Incentive Bonus Program

On April 9, 2011, the Compensation Committee and Board of
Directors of the Company amended the Global Crossing 2011
Discretionary Incentive Bonus Program.  All of the NEOs
participate in the 2011 Bonus Program.  The amendment provides
that, if the recently announced acquisition of the Company by
Level 3 Communications, Inc., closes before bonus payments
would otherwise be made under the 2011 Bonus Program, the
performance period will terminate on the date of such closing
and the Board shall at that time determine the payout amounts.
That determination will be made in accordance with existing
program terms, adjusted in the Board's discretion to account
for the shortened performance period.  Target bonuses will be
pro-rated for the portion of the year through the closing, and
any payout above 100% of the pro-rated target amounts will
require the consent of Level 3 Communications, Inc.  Any bonus
payout determined by the Board will be paid in cash or stock no
later than March 31, 2012.  Any employee who is awarded a bonus
payout by the Board will be entitled to receive that payout if he
or she is terminated in a reduction in force before the payment
date.

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
-- http://www.globalcrossing.com/-- is a global IP, Ethernet,
data center and video solutions provider with the world's first
integrated global IP-based network.

The Company's balance sheet at Dec. 31, 2010 showed $2.31 billion
in total assets, $2.79 billion in total liabilities and
$477 million in total stockholders' deficit.

Global Crossing Limited reported a consolidated net loss of
$172 million on $2.609 billion of consolidated revenue for the
twelve months ended Dec. 31, 2010, compared with a net loss of
$141 million on $2.159 billion of revenue during the prior year.

                           *     *     *

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.  S&P assigned its 'CCC+' issue-level
rating and '6' recovery rating to Global Crossing's proposed
$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.


GLOBAL CROSSING: Inks Pact & Plan of Amalgamation With Level 3
--------------------------------------------------------------
Global Crossing Limited entered into an Agreement and Plan of
Amalgamation with Level 3 Communications, Inc., and Apollo
Amalgamation Sub, Ltd., a Bermuda exempted limited liability
company and a direct wholly owned subsidiary of Level 3.

The Amalgamation Agreement provides that, among other things and
subject to the satisfaction of certain closing conditions,
Amalgamation Sub and Global Crossing will amalgamate pursuant to
Bermuda law and continue as a Bermuda exempted limited liability
company.  As a result of the Amalgamation, (i) each issued and
outstanding common share of the Company, par value $0.01 per
share, other than dissenting shares or shares held by Level 3 or
the Company, will be exchanged for 16 shares of Level 3's common
stock, par value $0.01 per share, including the associated rights
under that certain Rights Agreement, dated as of April 10, 2011,
between Level 3 and Wells Fargo Bank, N.A., as rights agent and
(ii) each issued and outstanding share of the Company's
convertible preferred stock, par value $0.10 per share, will be
exchanged for the Amalgamation Consideration, plus an amount equal
to the aggregate accrued and unpaid dividends thereon.  The
Amalgamation Agreement also provides that the (i) issued and
outstanding options to purchase the Company's Common Stock will
be exchanged into options to purchase Level 3 Common Stock and
(ii) issued and outstanding restricted stock units covering the
Company's common stock will, to the extent applicable in
accordance with their terms, vest and settle for Level 3 Common
Stock.

The Amalgamation is intended to qualify as a tax-free
reorganization for U.S. federal income tax purposes.

The Amalgamation Agreement contains customary representations and
warranties, including, among others, (i) representations and
warranties by the Company regarding the Company's corporate
organization and capitalization, the accuracy of the Company's
reports and financial statements filed under the Securities
Exchange Act of 1934, as amended, and the absence of certain
changes or events relative to the Company and its subsidiaries
since Dec. 31, 2010 and (ii) representations and warranties
by Level 3 and Amalgamation Sub regarding their corporate
organization, Level 3's capitalization, the accuracy of Level
3's reports and financial statements filed under the Exchange Act
and the absence of certain changes or events relative to Level 3
and its subsidiaries since Dec. 31, 2010.

The Amalgamation Agreement contains customary covenants,
including, among others, agreements by each of the Company and
Level 3 (i) to continue conducting its respective businesses in
the ordinary course, consistent with past practice and in
compliance with applicable law during the interim period between
the execution of the Amalgamation Agreement and consummation of
the Amalgamation, (ii) not to engage in certain specified kinds of
transactions during that period and (iii) to hold a meeting
of its stockholders to vote upon, in the case of the Company's
shareholders, the approval and adoption of the Amalgamation, and,
in the case of Level 3's stockholders, the approval of both the
issuance of the Amalgamation Consideration and the adoption of an
amendment to Level 3's Amended and Restated Certificate of
Incorporation increasing the number of authorized shares of Level
3 Common Stock.  In addition, each of Global Crossing and Level
3 has agreed that, subject to certain exceptions, its board of
directors will recommend the approval and adoption of the
Amalgamation, and the approval of each of the issuance of the
Amalgamation Consideration and the adoption of the Level 3 Charter
Amendment, by its stockholders.  The Company and Level 3 have also
made certain additional customary covenants, including, among
others, not to (i) solicit or knowingly encourage inquiries or
proposals relating to alternative business combination
transactions or (ii) subject to certain exceptions, engage in
discussions or negotiations regarding, or provide any non-public
information in connection with, alternative business combination
transactions.

The closing of the Amalgamation is subject to certain conditions,
including (i) the approval and adoption of the Amalgamation by the
Company's shareholders, (ii) the approval of issuance of the
Amalgamation Consideration and the adoption of the Level 3 Charter
Amendment by Level 3's stockholders, (iii) the expiration or
termination of applicable waiting periods under the Hart-Scott-
Rodino Antitrust Improvements Act of 1976 and applicable antitrust
laws in certain other jurisdictions, (iv) receipt of certain
regulatory and governmental approvals, (v) there being no material
adverse effect on the Company or Level 3 prior to the closing of
the Amalgamation and (vi) other customary conditions.

Either the Company or Level 3 may terminate the Amalgamation
Agreement if, among certain other circumstances, (i) the
Amalgamation has not become effective on or before April 10,
2012 or (ii) the Company's shareholders fail to approve the
Amalgamation or Level 3's stockholders fail to approve the
issuance of the Amalgamation Consideration or the adoption of the
Level 3 Charter Amendment.  In addition, the Company may terminate
the Amalgamation Agreement under certain other circumstances,
including: (a) to allow the Company to enter into a definitive
agreement for an alternative business combination transaction that
constitutes a "superior proposal," (b) if Level 3's board of
directors withdraws or adversely changes its approval or
recommendation of the issuance of the Amalgamation Consideration
or the adoption of the Level 3 Charter Amendment, (c) if Level 3
fails to obtain the proceeds sufficient to consummate the
Amalgamation and repay the debt of Global Crossing required to be
repaid as a result of the Amalgamation after the completion of a
marketing period or (d) if Level 3 materially breaches its
obligation not to solicit alternative transactions or engage in
negotiations in connection therewith, or materially breaches the
Amalgamation Agreement such that the conditions to closing would
not be satisfied.  Level 3 may terminate the Amalgamation
Agreement under certain other circumstances, including: (a) to
allow Level 3 to enter into a definitive agreement for an
alternative business combination transaction that constitutes a
"superior proposal," (b) the Company's board of directors
withdraws or adversely changes its approval or recommendation of
the Amalgamation, (c) if Level 3 fails to obtain the proceeds
sufficient to consummate the Amalgamation and repay the debt of
Global Crossing required to be repaid as a result of the
Amalgamation after the completion of a marketing period or (d) if
Global Crossing materially breaches its obligation not to solicit
alternative transactions or engage in negotiations in connection
therewith, or materially breaches the Amalgamation Agreement such
that the conditions to closing would not be satisfied.

The Amalgamation Agreement also provides that (i) upon termination
under specified circumstances, including, among others, a change
in the recommendation of the Company's board of directors or
termination of the Amalgamation Agreement by the Company to enter
into definitive agreement for an alternative business combination
transaction that constitutes a "superior proposal," the Company
would be required to pay to Level 3 a termination fee of $50
million and certain expenses incurred by Level 3 in pursuing the
Amalgamation, including the Financing Expenses, and (ii) upon
termination under specified circumstances, including, among
others, a change in the recommendation of Level 3's board of
directors or termination of the Amalgamation Agreement by Level 3
to enter into a definitive agreement for an alternative business
combination transaction that constitutes a "superior proposal,"
Level 3 would be required to pay Global Crossing a termination fee
of $70 million and certain expenses incurred by Global Crossing in
pursuing the Amalgamation.

Level 3 would be obligated to pay to Global Crossing a termination
fee of $70 million, less 50% of certain unreimbursed expenses
incurred by Level 3 in pursuing the financing, including
commitment and other upfront fees, if all the conditions to
closing have been met and the Amalgamation is not consummated
because of Level 3's failure to obtain proceeds from the Lenders
sufficient to consummate the Amalgamation and refinance Global
Crossing's debt at the closing of the transaction.  However, if
the failure to obtain such proceeds is due to Level 3's willful
and material breach of its obligations to obtain financing, Level
3 would be obligated to pay to Global Crossing a termination fee
of $120 million.  If the failure to obtain those proceeds is due
to the Lenders' willful and material breach of their obligations
under the Commitment Letter or the definitive financing documents,
Level 3 would be obligated to pay to Global Crossing the Financing
Fee, less, in certain circumstances, 50% of the Financing
Expenses; provided, that Level 3 would be required to pay to
Global Crossing any amounts received from the Lenders arising from
the resolution of claims against the Lenders in excess of the
Financing Fee, up to an amount equal to the Supplemental Financing
Fee, less, in certain circumstances, 50% of the Financing
Expenses.

                     Unanimous Written Consent

On April 10, 2011, as required by the Certificate of Designation
for the Company Convertible Preferred Stock, STT provided a
unanimous written consent for the Company to enter into the
Amalgamation Agreement, subject to certain terms and conditions.
On April 10, 2011, the Company acknowledged and agreed to the
terms and conditions set forth in the Consent.

                         Voting Agreement

In connection with the Amalgamation Agreement, on April 10, 2011,
Global Crossing's controlling shareholder, STT Crossing Ltd.,
entered into a Voting Agreement with Level 3, pursuant to which it
agreed, among other things, (i) subject to certain limited
exceptions as set forth in the Voting Agreement, to vote the
Company Common Stock and the Company Convertible Preferred Stock
held by it in favor of the approval and adoption of the
Amalgamation and (ii) to restrict its ability to transfer, sell or
otherwise dispose of, grant proxy to or permit the pledge of or
any other encumbrance on such Company Common Stock or Company
Convertible Preferred Stock. Pursuant to the Voting Agreement, STT
and Level 3 have agreed upon the types of actions STT would be
required to take, and the types of actions STT would not be
required to take, in connection with obtaining regulatory and
governmental approvals required under the Amalgamation Agreement.
In the event that the Amalgamation Agreement is terminated, the
Voting Agreement will also terminate.

As of April 11, 2011, STT beneficially owns shares of the Company
Common Stock and Company Convertible Preferred Stock which, in the
aggregate, represent approximately 60% of the Company's voting
shares.

                   Stockholder Rights Agreement

In connection with the Amalgamation Agreement, on April 10, 2011,
STT entered into a Stockholder Rights Agreement with Level 3,
which becomes effective on closing of the Amalgamation, and
pursuant to which Level 3 agreed, among other things, that upon
closing of the Amalgamation, Level 3's board of directors will
appoint a specified number of directors designated by STT,
determined as follows: if, at closing Level 3's board of directors
consists of (i) 13 or fewer directors, STT would be allocated
three designees, (ii) 14 through 16 directors, STT would be
allocated four designees or (iii) 17 or more directors, STT would
be allocated five designees.  The Stockholder Agreement provides
that, following the closing of the Amalgamation, STT will have the
right to nominate the number of directors for Level 3's board of
directors that is proportionate to its percentage ownership of
Level 3 Common Stock.  However, STT will have the right to
nominate (i) at least two directors as long as STT owns at least
15% of the outstanding Level 3 Common Stock and (ii) at least one
director as long as STT owns at least 10% of the outstanding Level
3 Common Stock.

Under the Stockholder Agreement, STT, for the relevant time period
and without the prior written consent of the majority of the
entire board of directors of Level 3, (i) is prohibited from
acquiring or publicly proposing to acquire any material assets of
Level 3 or seeking to effect a business combination transaction,
seeking to have representatives elected to Level 3's board of
directors or soliciting proxies for the purpose of seeking to
control or influence the board of directors, or forming a group in
connection with any of the foregoing and (ii) may not acquire any
shares of Level 3 Common Stock unless after giving effect to such
acquisition STT would beneficially own less than 34.5% of the
outstanding shares of Level 3 Common Stock.  STT is also subject
to certain other limitations on the acquisition and transfer of
shares of Level 3 Common Stock and securities convertible into
Level 3 Common Stock.

Under the Stockholder Agreement, Level 3 grants STT certain
registration rights and agrees to offer new equity interests in
Level 3 to STT for the same price and on the same terms as such
new equity interests are proposed to be offered to others.

                         Commitment Letter

As described in Level 3's Current Report on Form 8-K filed on
April 14, 2011, concurrently with the signing of the Amalgamation
Agreement, Level 3 Financing, Inc. and Level 3 entered into a
financing commitment letter with Bank of America, N.A., Merrill
Lynch, Pierce, Fenner & Smith Incorporated, and Citigroup Global
Markets Inc.  Level 3 expects the financing under the Commitment
Letter, together with cash balances, to be sufficient to provide
the financing necessary to consummate the Amalgamation and to
refinance certain existing indebtedness of Global Crossing.  The
Commitment Letter provides for a senior secured term loan facility
in an aggregate amount of $650 million.  The Commitment Letter
also provides for a $1.1 billion senior unsecured bridge facility,
if up to $1.1 billion of senior notes or certain other securities
are not issued by Level 3 Financing, Inc. or Level 3 to finance
the Amalgamation on or prior to the closing of the Amalgamation.
The financing commitments of Bank of America and CGMI are subject
to certain conditions set forth in the Commitment Letter.

A full-text copy of the Agreement and Plan of Amalgamation is
available for free at http://is.gd/SrXNkb

                       About Global Crossing

Based in Hamilton, Bermuda, Global Crossing Limited (NASDAQ: GLBC)
-- http://www.globalcrossing.com/-- is a global IP, Ethernet,
data center and video solutions provider with the world's first
integrated global IP-based network.

The Company's balance sheet at Dec. 31, 2010 showed $2.31 billion
in total assets, $2.79 billion in total liabilities and
$477 million in total stockholders' deficit.

Global Crossing Limited reported a consolidated net loss of
$172 million on $2.609 billion of consolidated revenue for the
twelve months ended Dec. 31, 2010, compared with a net loss of
$141 million on $2.159 billion of revenue during the prior year.

                           *     *     *

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.  S&P assigned its 'CCC+' issue-level
rating and '6' recovery rating to Global Crossing's proposed
$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.


MUSCAT IP 320: Creditors' Proofs of Debt Due April 27
-----------------------------------------------------
The creditors of Muscat IP 320 Dollar Trading Ltd are required to
file their proofs of debt by April 27, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on April 11, 2011.

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


MUSCAT IP 320: Member to Receive Wind-Up Report on May 16
---------------------------------------------------------
The member of Muscat IP 320 Dollar Trading Ltd will receive on
May 16, 2011, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on April 11, 2011.

The company's liquidator is:

         Beverly Mathias
         c/o Argonaut Limited
         Argonaut House, 5 Park Road
         Hamilton HM O9
         Bermuda


SAGE LTD: Creditors' Proofs of Debt Due April 27
------------------------------------------------
The creditors of Sage Ltd. are required to file their proofs of
debt by April 27, 2011, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on April 8, 2011.

The company's liquidator is:

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


SAGE LTD: Members' Final Meeting Set for May 25
-----------------------------------------------
The members of Sage Ltd. will hold their final meeting on May 25,
2011, at 9:30 a.m., to receive the liquidator's report on the
company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on April 8, 2011.

The company's liquidator is:

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


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


ABCHURCH EUROPE: Shareholders' Final Meeting Set for April 26
-------------------------------------------------------------
The shareholders of The Abchurch Europe Fund Limited will hold
their final meeting on April 26, 2011, at 2:30 p.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Avalon Management Limited
         Landmark Square, 1st Floor
         64 Earth Close, West Bay Beach
         P.O. Box 715, Grand Cayman KY1-1107
         Cayman Islands
         Facsimile: 1 345 769-9351


ABCHURCH EUROPE: Shareholders' Final Meeting Set for April 26
-------------------------------------------------------------
The shareholders of The Abchurch Europe Master Fund Limited will
hold their final meeting on April 26, 2011, at 2:00 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Avalon Management Limited
         Landmark Square, 1st Floor
         64 Earth Close, West Bay Beach
         P.O. Box 715, Grand Cayman KY1-1107
         Cayman Islands
         Facsimile: 1 345 769-9351


ABSOLUTE INSIGHT: Shareholders' Final Meeting Set for May 12
------------------------------------------------------------
The shareholders of Absolute Insight Plus Limited will hold their
final meeting on May 12, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Richard E. L. Fogerty
         Tammy Fu, Zolfo Cooper
         P.O. Box 1102, 4th Floor, Building 3
         Cayman Financial Centre
         Dr. Roy's Drive
         Grand Cayman KY1-1102
         Cayman Islands
         Telephone: (345) 946-0081
         Facsimile: (345) 946-0082


AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13
----------------------------------------------------------
The shareholders of Amoeba Capital Asia Fund will hold their final
meeting on May 13, 2011, at 9:30 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13
----------------------------------------------------------
The shareholders of Amoeba Capital Asia US Feeder Fund will hold
their final meeting on May 13, 2011, at 9:15 a.m., to receive 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


AMOEBA CAPITAL: Shareholders' Final Meeting Set for May 13
----------------------------------------------------------
The shareholders of Amoeba Capital Asia Feeder Fund will hold
their final meeting on May 13, 2011, at 9:45 a.m., to receive 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


EDDINGTON SPC: Shareholders' Final Meeting Set for May 13
---------------------------------------------------------
The shareholders of Eddington SPC will hold their final meeting on
May 13, 2011, at 10:15 a.m., to receive 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


GOLDEN GATE: Shareholders' Final Meeting Set for May 13
-------------------------------------------------------
The shareholders of Golden Gate Logistics (Cayman) Ltd. will hold
their final meeting on May 13, 2011, at 8:45 a.m., to receive 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


KBAL II: Shareholders' Final Meeting Set for May 13
---------------------------------------------------
The shareholders of KBAL II Limited will hold their final meeting
on May 13, 2011, at 10:00 a.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


LYDIAN OVERSEAS: Shareholders' Final Meeting Set for May 13
-----------------------------------------------------------
The shareholders of Lydian Overseas Partners Master Fund, Ltd.
will hold their final meeting on May 13, 2011, at 9:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


RISTORANTE LTD: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Ristorante Ltd. received on March 24, 2011,
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


SIMJA LTD: Members' Final Meeting Set for May 2
-----------------------------------------------
The members of Simja Ltd. will hold their final meeting on May 2,
2011, to receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


THL CAYMAN: Shareholders' Final Meeting Set for May 13
------------------------------------------------------
The shareholders of THL Cayman Fund V (Alternative) Corp. will
hold their final meeting on May 13, 2011, at 10:45 a.m., to
receive 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


THL FUND: Shareholders' Final Meeting Set for May 13
----------------------------------------------------
The shareholders of THL Fund V (Alternative) Corp. will hold their
final meeting on May 13, 2011, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


THL PARALLEL: Shareholders' Final Meeting Set for May 13
--------------------------------------------------------
The shareholders of THL Parallel Fund V (Alternative) Corp. will
hold their final meeting on May 13, 2011, at 11:00 a.m., to
receive 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


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


AIR JAMAICA: Gov't To Buy Kingston Building for $200 Million
------------------------------------------------------------
The RJR News reports that the Jamaican government has set aside
$200 million to purchase Air Jamaica's building in Kingston.
According to the RJR News, the building will be used to house the
Accountant-General's Department.

Headquartered in Kingston, Jamaica, Air Jamaica Limited --
http://www.airjamaica.com/-- was founded in 1969.  It flies
passengers and cargo to almost 30 destinations in the Caribbean,
Europe, and North America.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 23, 2010, Trinidad and Tobago Caribbean Airline on May 1,
2010, acquired Air Jamaica for US$50 million and operated six Air
Jamaica aircraft and eight of its routes.  Jamaica got a 16% stake
in the merged operation, with CAL owning 84%.  According to a TCR-
LA report on June 29, 2009, RadioJamaica News said the Jamaican
government indicated it will name a buyer for cash-strapped Air
Jamaica.  RadioJamaica related the airline has been hemorrhaging
over US$150 million per annum and the government has had to foot
the massive bill.  In addition, RadioJamaica said, Air Jamaica
currently has over US$600 million in loans outstanding.

As of Aug. 18, 2010, the airline continues to carry Moody's "B3"
long-term corporate family, and senior unsecured debt ratings.


SUGAR CO: Gov't Allocates More Than $2.7B for Legacy Payments
-------------------------------------------------------------
Jamaican government has allocated more than $2.7 billion for the
Sugar Company of Jamaica, to meet certain legacy payments arising
from the divestment of the Company, RJR News reports, citing
Agriculture Minister Dr. Christopher Tufton.

The RJR News quoted Dr. Tufton as saying, "When the estates were
packaged for divestment, there was an understanding that no
investor would be willing to purchase the assets with the debt,
just as it with the case of Air Jamaica and other government owned
assets that have built up over time.  So, the debt was separated
and placed in a legacy company and assigned to the Ministry of
Finance to be paid for over time (while) the assets were packaged
to be sold for development by the private investor."

According to the RJR News, Chinese firm Complant Group of
Companies, which spent US$9 million last year to acquire the
Company's Frome, Bernard Lodge and Monymusk sugar factories, is
still carrying out due diligence on the divested entities ahead of
the formal handover in August.  The RJR News relates that Complant
had delayed the formal takeover until due diligence is complete,
which is expected in July.

                            About SCJ

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

                           *     *     *

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


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


BLANCO VELEZ: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Blanco Velez Stores, Inc.
          aka Jeans World
              Suit World
              Crash Boat
              Madison
        P.O. Box 1619
        Bayamon, PR 00960-1619

Bankruptcy Case No.: 11-03169

Chapter 11 Petition Date: April 14, 2011

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

Debtor's Counsel: Charles Alfred Cuprill, Esq.
                  CHARLES A CURPILL, PSC LAW OFFICE
                  356 Calle Fortaleza, Second Floor
                  San Juan, PR 00901
                  Tel: (787) 977-0515
                  E-mail: cacuprill@cuprill.com

Estimated Assets: $1,000,001 to $10,000,000

Estimated Debts: $1,000,001 to $10,000,000

A list of the Company's 20 largest unsecured creditors
filed together with the petition is available for free
at: http://bankrupt.com/misc/prb11-03169.pdf

The petition was signed by Elias L. Blanco Olalla, treasurer.


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


URBAN DEV'T: Gov't To Provide Guarantee for First Citizens Loan
---------------------------------------------------------------
The government of Trinidad and Tobago will provide a loan
guarantee to state bank First Citizens for a credit facility of
$230.1 million to Urban Development Corporation of Trinidad and
Tobago (UDeCOTT) to pay contractors, the Trinidad Express
Newspapers reports, citing Acting Finance Minister Vasant Bharath.

Mr. Bharath said the two-part loan will consist $100 million and
$130.1 million, with interest rate of 5.25%, the Trinidad Express
relates.  It will be for a period of five years, the report
states, citing Mr. Bharath.

According to the Troubled Company Reporter-Latin America on
Nov. 12, 2010, the Trinidad Express, citing Food Production
Minister Vasant Bharath, reported that UDeCOTT owes billions of
dollars to contractors.  The Trinidad Express said that UDeCOTT
has an outstanding debt of TT$8 billion.  "We are told that
UDeCOTT has made certain commitments that are now just coming to
light, billions of dollars that are owed again to other
contractors so there are other calls on the Government,"
Trinidad Express quoted Mr. Bharath as saying.  "We've been told
by Senator Mary King that commitments were entered into for works
done by UDeCOTT that apparently have not been paid at this point
in time and have just come to light recently to add to the
commitments already that the government has to fulfill," he added,
Trinidad Express related.

The Urban Development Corporation of Trinidad and Tobago Limited
(UDeCOTT) is a limited liability private company registered under
the Companies Ordinance (Ch. 13. No. 1).  The Company came into
being on Dec. 28, 1994.  The Corporation is a wholly owned
State Company.   The rationale for the establishment of the
Corporation was based on the decision to give greater focus to the
city of Port-of-Spain as a business and financial center; to the
regeneration of the city of San Fernando; and to the development
of the 13 major urban centers identified in the National Physical
Development Plan.


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

COMERCIAL PLA-BL       COMEB AR     143096734.1    -251846058.1
COMERCIAL PL-ADR       SCPDS LI     143096734.1    -251846058.1
COMERCIAL PLAT-$       COMED AR     143096734.1    -251846058.1
COMERCIAL PL-C/E       COMEC AR     143096734.1    -251846058.1
IMPSAT FIBER NET       XIMPT SM     535007008       -17164978
IMPSAT FIBER NET       330902Q GR   535007008       -17164978
IMPSAT FIBER-$US       IMPTD AR     535007008       -17164978
IMPSAT FIBER-BLK       IMPTB AR     535007008       -17164978
IMPSAT FIBER-C/E       IMPTC AR     535007008       -17164978
IMPSAT FIBER-CED       IMPT AR      535007008       -17164978
SNIAFA SASNIA          AR            11229696.22     -2670544.877
SNIAFA SA-B            SDAGF US      11229696.22     -2670544.877
SNIAFA SA-B            SNIA5 AR      11229696.22     -2670544.877
SOC COMERCIAL PL       COME AR      143096734.1    -251846058.1
SOC COMERCIAL PL       CADN EU      143096734.1    -251846058.1
SOC COMERCIAL PL       CADN SW      143096734.1    -251846058.1
SOC COMERCIAL PL       CVVIF US     143096734.1    -251846058.1
SOC COMERCIAL PL       CADN EO      143096734.1    -251846058.1
SOC COMERCIAL PL       CAD IX       143096734.1    -251846058.1
SOC COMERCIAL PL       SCDPF US     143096734.1    -251846058.1


BRAZIL


AGRENCO LTD            AGRE LX      542862428.6    -297848343
AGRENCO LTD-BDR        AGEN11 BZ    542862428.6    -297848343
ARTHUR LAN-DVD C       ARLA11 BZ     11642255.92    -17154461.86
ARTHUR LAN-DVD P       ARLA12 BZ     11642255.92    -17154461.86
ARTHUR LANGE SA        ALICON BZ     11642255.92    -17154461.86
ARTHUR LANGE-PRF       ALICPN BZ     11642255.92    -17154461.86
ARTHUR LANG-RC C       ARLA9 BZ      11642255.92    -17154461.86
ARTHUR LANG-RC P       ARLA10 BZ     11642255.92    -17154461.86
ARTHUR LANG-RT C       ARLA1 BZ      11642255.92    -17154461.86
ARTHUR LANG-RT P       ARLA2 BZ      11642255.92    -17154461.86
BOMBRIL                BMBBF US     316331264.9    -123554206.2
BOMBRIL                BOBR3 BZ     316331264.9    -123554206.2
BOMBRIL CIRIO SA       BOBRON BZ    316331264.9    -123554206.2
BOMBRIL CIRIO-PF       BOBRPN BZ    316331264.9    -123554206.2
BOMBRIL SA-ADR         BMBBY US     316331264.9    -123554206.2
BOMBRIL SA-ADR         BMBPY US     316331264.9    -123554206.2
BOMBRIL-PREF           BOBR4 BZ     316331264.9    -123554206.2
BOMBRIL-RGTS PRE       BOBR2 BZ     316331264.9    -123554206.2
BOMBRIL-RIGHTS         BOBR1 BZ     316331264.9    -123554206.2
BOTUCATU TEXTIL        STRP3 BZ      27663604.95     -7174512.028
BOTUCATU-PREF          STRP4 BZ      27663604.95     -7174512.028
CAF BRASILIA           CAFE3 BZ      21097369.71   -903951460.5
CAF BRASILIA-PRF       CAFE4 BZ      21097369.71   -903951460.5
CAFE BRASILIA SA       CSBRON BZ     21097369.71   -903951460.5
CAFE BRASILIA-PR       CSBRPN BZ     21097369.71   -903951460.5
CHIARELLI SA           CCHI3 BZ      22274026.77    -44537138.21
CHIARELLI SA           CCHON BZ      22274026.77    -44537138.21
CHIARELLI SA-PRF       CCHPN BZ      22274026.77    -44537138.21
CHIARELLI SA-PRF       CCHI4 BZ      22274026.77    -44537138.21
CIA PETROLIFERA        1CPMON BZ    377602195.2      -3014291.724
CIA PETROLIFERA        MRLM3 BZ     377602195.2      -3014291.724
CIA PETROLIF-PRF       MRLM4 BZ     377602195.2      -3014291.724
CIA PETROLIF-PRF       1CPMPN BZ    377602195.2      -3014291.724
CIMOB PARTIC SA        GAFON BZ      39881386.59    -41560353.19
CIMOB PARTIC SA        GAFP3 BZ      39881386.59    -41560353.19
CIMOB PART-PREF        GAFP4 BZ      39881386.59    -41560353.19
CIMOB PART-PREF        GAFPN BZ      39881386.59    -41560353.19
CONST BETER SA         1007Q BZ      25469474.32     -4918659.899
CONST BETER SA         COBEON BZ     25469474.32     -4918659.899
CONST BETER SA         COBE3 BZ      25469474.32     -4918659.899
CONST BETER SA         1COBON BZ     25469474.32     -4918659.899
CONST BETER SA         COBE3B BZ     25469474.32     -4918659.899
CONST BETER-PF A       1COBAN BZ     25469474.32     -4918659.899
CONST BETER-PF A       COBE5 BZ      25469474.32     -4918659.899
CONST BETER-PF B       1COBBN BZ     25469474.32     -4918659.899
CONST BETER-PF B       COBE6 BZ      25469474.32     -4918659.899
CONST BETER-PR A       COBEAN BZ     25469474.32     -4918659.899
CONST BETER-PR B       COBEBN BZ     25469474.32     -4918659.899
DOC IMBITUBA           IMBI3 BZ      96977064.5     -42592602.52
DOC IMBITUBA-RT        IMBI1 BZ      96977064.5     -42592602.52
DOC IMBITUBA-RT        8218594Q BZ   96977064.5     -42592602.52
DOC IMBITUBA-RTC       8174503Q BZ   96977064.5     -42592602.52
DOC IMBITUBA-RTP       8174507Q BZ   96977064.5     -42592602.52
DOC IMBITUB-PREF       IMBI4 BZ      96977064.5     -42592602.52
DOCAS IMBITUBA         IMBION BZ     96977064.5     -42592602.52
DOCAS IMBITUB-PR       IMBIPN BZ     96977064.5     -42592602.52
FABRICA RENAUX         FTRX3 BZ      63865882.02    -73255215.05
FABRICA RENAUX         FRNXON BZ     63865882.02    -73255215.05
FABRICA RENAUX-P       FTRX4 BZ      63865882.02    -73255215.05
FABRICA RENAUX-P       FRNXPN BZ     63865882.02    -73255215.05
FABRICA TECID-RT       FTRX1 BZ      63865882.02    -73255215.05
FER HAGA-PREF          HAGA4 BZ      21299042.62    -62858780.72
FERRAGENS HAGA         HAGAON BZ     21299042.62    -62858780.72
FERRAGENS HAGA-P       HAGAPN BZ     21299042.62    -62858780.72
FERREIRA GUIMARA       FGUION BZ     11016542.14   -151840377.4
FERREIRA GUIM-PR       FGUIPN BZ     11016542.14   -151840377.4
GAZOLA                 GAZO3 BZ      12452144.11    -40298531.2
GAZOLA SA              GAZON BZ      12452144.11    -40298531.2
GAZOLA SA-DVD CM       GAZO11 BZ     12452144.11    -40298531.2
GAZOLA SA-DVD PF       GAZO12 BZ     12452144.11    -40298531.2
GAZOLA SA-PREF         GAZPN BZ      12452144.11    -40298531.2
GAZOLA-PREF            GAZO4 BZ      12452144.11    -40298531.2
GAZOLA-RCPT PREF       GAZO10 BZ     12452144.11    -40298531.2
GAZOLA-RCPTS CMN       GAZO9 BZ      12452144.11    -40298531.2
HAGA                   HAGA3 BZ      21299042.62    -62858780.72
HOTEIS OTHON SA        HOOT3 BZ     255036149.9     -42606769.75
HOTEIS OTHON SA        HOTHON BZ    255036149.9     -42606769.75
HOTEIS OTHON-PRF       HOTHPN BZ    255036149.9     -42606769.75
HOTEIS OTHON-PRF       HOOT4 BZ     255036149.9     -42606769.75
LAEP INVESTMENTS       LEAP LX      439175081.9     -60172004.98
LAEP-BDR               MILK11 BZ    439175081.9     -60172004.98
MINUPAR                MNPR3 BZ      63144533.79    -60655823.36
MINUPAR SA             MNPRON BZ     63144533.79    -60655823.36
MINUPAR SA-PREF        MNPRPN BZ     63144533.79    -60655823.36
MINUPAR-RCT            MNPR9 BZ      63144533.79    -60655823.36
MINUPAR-RT             MNPR1 BZ      63144533.79    -60655823.36
NORDON MET             NORD3 BZ      16108142.83    -22352940.65
NORDON METAL           NORDON BZ     16108142.83    -22352940.65
NORDON MET-RTS         NORD1 BZ      16108142.83    -22352940.65
PET MANG-RECEIPT       RPMG9 BZ     231024467.2    -184606117.1
PET MANG-RECEIPT       RPMG10 BZ    231024467.2    -184606117.1
PET MANG-RIGHTS        3678569Q BZ  231024467.2    -184606117.1
PET MANG-RIGHTS        3678565Q BZ  231024467.2    -184606117.1
PET MANG-RT            RPMG2 BZ     231024467.2    -184606117.1
PET MANG-RT            4115364Q BZ  231024467.2    -184606117.1
PET MANG-RT            4115360Q BZ  231024467.2    -184606117.1
PET MANG-RT            RPMG1 BZ     231024467.2    -184606117.1
PET MANGUINH-PRF       RPMG4 BZ     231024467.2    -184606117.1
PETRO MANGUINHOS       RPMG3 BZ     231024467.2    -184606117.1
PETRO MANGUINHOS       MANGON BZ    231024467.2    -184606117.1
PETRO MANGUIN-PF       MANGPN BZ    231024467.2    -184606117.1
RENAUXVIEW SA          TXRX3 BZ      73095833.69   -103943205.8
RENAUXVIEW SA-PF       TXRX4 BZ      73095833.69   -103943205.8
SANSUY                 SNSY3 BZ     172563384.2     -94849032.91
SANSUY SA              SNSYON BZ    172563384.2     -94849032.91
SANSUY SA-PREF A       SNSYAN BZ    172563384.2     -94849032.91
SANSUY SA-PREF B       SNSYBN BZ    172563384.2     -94849032.91
SANSUY-PREF A          SNSY5 BZ     172563384.2     -94849032.91
SANSUY-PREF B          SNSY6 BZ     172563384.2     -94849032.91
STAROUP SA             STARON BZ     27663604.95     -7174512.028
STAROUP SA-PREF        STARPN BZ     27663604.95     -7174512.028
STEEL - RCT ORD        STLB9 BZ      23040051.4      -8699861.073
STEEL - RT             STLB1 BZ      23040051.4      -8699861.073
STEEL DO BRASIL        STLB3 BZ      23040051.4      -8699861.073
TECEL S JOSE           SJOS3 BZ      19067323.42    -52580501.1
TECEL S JOSE           FTSJON BZ     19067323.42    -52580501.1
TECEL S JOSE-PRF       FTSJPN BZ     19067323.42    -52580501.1
TECEL S JOSE-PRF       SJOS4 BZ      19067323.42    -52580501.1
TEKA                   TKTQF US     246866965      -392777063.4
TEKA                   TEKAON BZ    246866965      -392777063.4
TEKA                   TEKA3 BZ     246866965      -392777063.4
TEKA-ADR               TKTQY US     246866965      -392777063.4
TEKA-ADR               TKTPY US     246866965      -392777063.4
TEKA-ADR               TEKAY US     246866965      -392777063.4
TEKA-PREF              TKTPF US     246866965      -392777063.4
TEKA-PREF              TEKAPN BZ    246866965      -392777063.4
TEKA-PREF              TEKA4 BZ     246866965      -392777063.4
TELEBRAS SA            TBASF US     269372906.3     -13465060.74
TELEBRAS SA            TELB3 BZ     269372906.3     -13465060.74
TELEBRAS SA            TLBRON BZ    269372906.3     -13465060.74
TELEBRAS SA-PREF       TELB4 BZ     269372906.3     -13465060.74
TELEBRAS SA-RT         TELB9 BZ     269372906.3     -13465060.74
TELEBRAS/W-I-ADR       TBH-W US     269372906.3     -13465060.74
TELEBRAS-ADR           TBX GR       269372906.3     -13465060.74
TELEBRAS-ADR           TBAPY US     269372906.3     -13465060.74
TELEBRAS-ADR           TBH US       269372906.3     -13465060.74
TELEBRAS-ADR           TBRAY GR     269372906.3     -13465060.74
TELEBRAS-ADR           RTB US       269372906.3     -13465060.74
TELEBRAS-ADR           TBASY US     269372906.3     -13465060.74
TELEBRAS-BLOCK         TELB30 BZ    269372906.3     -13465060.74
TELEBRAS-CED C/E       RCT4C AR     269372906       -13465060.74
TELEBRAS-CED C/E       TEL4C AR     269372906.3     -13465060.74
TELEBRAS-CEDE BL       RCT4B AR     269372906.3     -13465060.74
TELEBRAS-CEDE PF       RCTB4 AR     269372906.3     -13465060.74
TELEBRAS-CEDE PF       TELB4 AR     269372906.3     -13465060.74
TELEBRAS-CEDEA $       TEL4D AR     269372906.3     -13465060.74
TELEBRAS-CEDEA $       RCT4D AR     269372906.3     -13465060.74
TELEBRAS-CM RCPT       TBRTF US     269372906.3     -13465060.74
TELEBRAS-CM RCPT       RCTB32 BZ    269372906.3     -13465060.74
TELEBRAS-CM RCPT       RCTB31 BZ    269372906.3     -13465060.74
TELEBRAS-COM RT        TELB1 BZ     269372906.3     -13465060.74
TELEBRAS-PF BLCK       TELB40 BZ    269372906.3     -13465060.74
TELEBRAS-PF RCPT       TLBRUP BZ    269372906.3     -13465060.74
TELEBRAS-PF RCPT       RCTB42 BZ    269372906.3     -13465060.74
TELEBRAS-PF RCPT       CBRZF US     269372906.3     -13465060.74
TELEBRAS-PF RCPT       RCTB41 BZ    269372906.3     -13465060.74
TELEBRAS-PF RCPT       TBAPF US     269372906.3     -13465060.74
TELEBRAS-RCT           RCTB33 BZ    269372906.3     -13465060.74
TELEBRAS-RCT PRF       TELB10 BZ    269372906.3     -13465060.74
TELEBRAS-RECEIPT       TLBRUO BZ    269372906.3     -13465060.74
TELEBRAS-RTS CMN       RCTB1 BZ     269372906.3     -13465060.74
TELEBRAS-RTS CMN       TCLP1 BZ     269372906.3     -13465060.74
TELEBRAS-RTS PRF       RCTB2 BZ     269372906.3     -13465060.74
TELEBRAS-RTS PRF       TLCP2 BZ     269372906.3     -13465060.74
TELECOMUNICA-ADR       81370Z BZ    269372906.3     -13465060.74
TEXTEIS RENA-RCT       TXRX9 BZ      73095833.69   -103943205.8
TEXTEIS RENA-RCT       TXRX10 BZ     73095833.69   -103943205.8
TEXTEIS RENAU-RT       TXRX1 BZ      73095833.69   -103943205.8
TEXTEIS RENAU-RT       TXRX2 BZ      73095833.69   -103943205.8
TEXTEIS RENAUX         RENXON BZ     73095833.69   -103943205.8
TEXTEIS RENAUX         RENXPN BZ     73095833.69   -103943205.8
VARIG PART EM SE       VPSC3 BZ      96617351.14   -460274609.3
VARIG PART EM TR       VPTA3 BZ      49432124.18   -399290396.3
VARIG PART EM-PR       VPSC4 BZ      96617351.14   -460274609.3
VARIG PART EM-PR       VPTA4 BZ      49432124.18   -399290396.3
VARIG SA               VARGON BZ    966298025.5   -4695211316
VARIG SA               VAGV3 BZ     966298025.5   -4695211316
VARIG SA-PREF          VARGPN BZ    966298025.5   -4695211316
VARIG SA-PREF          VAGV4 BZ     966298025.5   -4695211316


COLOMBIA

CHILESAT               CO-ADR TL US 953784479.1    -103476226.9
CHILESAT CORP SA       TELEX CI     953784479.1    -103476226.9
CHILESAT CO-RTS        CHISATOS CI  953784479.1    -103476226.9
TELEX-A                TELEXA CI    953784479.1    -103476226.9
TELEX-RTS              TELEXO CI    953784479.1    -103476226.9
TELMEX CORP SA         CHILESAT CI  953784479.1    -103476226.9
TELMEX CORP-ADR        CSAOY US     953784479.1    -103476226.9


                            ***********


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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