TCRLA_Public/110526.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

             Thursday, May 26, 2011, Vol. 12, No. 103

                            Headlines



A R G E N T I N A

FURNITURE ARGENTINA: Creditors' Proofs of Debt Due July 15
HILARIO CACOPARDO: Asks for Bankruptcy Proceedings
INNOVO PRODUCCIONES: Creditors' Proofs of Debt Due July 11
JNC SA: Applies for Reorganization Proceedings
METALURGICA FAEM: Requests Opening of Bankruptcy Proceedings

VIDACOM SA: Creditors' Proofs of Debt Due June 24


C A Y M A N   I S L A N D S

FOCUS PORTFOLIOS: Shareholders' Final Meeting Set for June 10
MADB LEASING: Shareholders' Final Meeting Set for June 16
MEDICAL FACTORING: Shareholders' Final Meeting Set for June 16
NIKKO PACVEN: Members Receive Wind-Up Report
ROCKWELL DIVERSIFIED: Members' Final Meeting Set for May 31

SIGNUM XENON: Shareholders' Final Meeting Set for June 10
SILOM LIMITED: Shareholder to Receive Wind-Up Report on June 16
PARTNERS PRIVATE: Shareholders' Final Meeting Set for June 10
QUANTICA GENERAL: Shareholders' Final Meeting Set for June 10


C O L O M B I A

FABRICATO SA: Paid Down Bankruptcy Debt to COP5.5 Billion


J A M A I C A

JAMAICA URBAN TRANSIT: Losses Exceed Half a Billion Dollars


M E X I C O

ATIZAPAN DE ZARAGOZA: Moody's Downgrades Issuer Rating to 'B1'


P U E R T O   R I C O

CARIBBEAN PETROLEUM: To Pay US$8.2MM in Environmental Liabilities


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


=================
A R G E N T I N A
=================


FURNITURE ARGENTINA: Creditors' Proofs of Debt Due July 15
----------------------------------------------------------
Jorge Alberto Testa, the court-appointed trustee for Furniture
Argentina SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until July 15, 2011.

Mr. Testa will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 18
in Buenos Aires, with the assistance of Clerk No. 36, will
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by the company and its creditors.

The Trustee can be reached at:

         Jorge Alberto Testa
         Maipu 459
         Argentina


HILARIO CACOPARDO: Asks for Bankruptcy Proceedings
-------------------------------------------------
Hilario Cacopardo-Nelida Mercedes Chavez Sociedad de Hecho asked
for bankruptcy proceedings.

The company has defaulted on its payments due February 22, 2011.


INNOVO PRODUCCIONES: Creditors' Proofs of Debt Due July 11
----------------------------------------------------------
Gladys Beatriz Benito, the court-appointed trustee for Innovo
Producciones SRL's bankruptcy proceedings, will be verifying
creditors' proofs of claim until July 11, 2011.

Ms. Benito will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 21 in Buenos Aires, with the assistance of Clerk
No. 42, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Gladys Beatriz Benito
         Uruguay 618


JNC SA: Applies for Reorganization Proceedings
----------------------------------------------
JNC SA applied for reorganization proceedings.

The company has defaulted on its payments due February 22, 2011.


METALURGICA FAEM: Requests Opening of Bankruptcy Proceedings
------------------------------------------------------------
Metalurgica Faem SA requested the opening of bankruptcy
proceedings.

The company stopped making payments between December 2010 and last
March.


VIDACOM SA: Creditors' Proofs of Debt Due June 24
-------------------------------------------------
Adriana Patricia Barragan, the court-appointed trustee for Vidacom
SA's reorganization proceedings, will be verifying creditors'
proofs of claim until June 24, 2011.

Ms. Barragan will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 2 in Buenos Aires, with the assistance of Clerk
No. 3, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Adriana Patricia Barragan
         Lavalle 1290
         Argentina


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


FOCUS PORTFOLIOS: Shareholders' Final Meeting Set for June 10
-------------------------------------------------------------
The shareholders of Focus Portfolios Limited will hold their final
meeting on June 10, 2011, to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984, Grand Cayman KY1-1104
         Cayman Islands


MADB LEASING: Shareholders' Final Meeting Set for June 16
---------------------------------------------------------
The shareholders of MADB Leasing Limited will hold their final
meeting on June 16, 2011, at 9:10 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


MEDICAL FACTORING: Shareholders' Final Meeting Set for June 16
--------------------------------------------------------------
The shareholders of Medical Factoring Corporation will hold their
final meeting on June 16, 2011, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


NIKKO PACVEN: Members Receive Wind-Up Report
--------------------------------------------
The members of Nikko Pacven Walden Investments Ltd received on
May 20, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Pacven Walden Management Co. Japan) Pte Ltd.
         c/o Maples and Calder, Attorneys-at-Law
         P.O. Box 309, Ugland House
         Grand Cayman KY1-1104
         Cayman Islands


ROCKWELL DIVERSIFIED: Members' Final Meeting Set for May 31
-----------------------------------------------------------
The members of Rockwell Diversified Fund Limited will hold their
final meeting on May 31, 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:

         Philip Manduca
         Telephone: + 447770 477499
         High Lanes, North Drive
         Wentworth, Surrey GU25 4NL
         United Kingdom


SIGNUM XENON: Shareholders' Final Meeting Set for June 10
---------------------------------------------------------
The shareholders of Signum Xenon Limited will hold their final
meeting on June 10, 2011, to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         David Dyer
         Telephone: (345) 949-8244
         Facsimile: (345) 949-5223
         P.O. Box 1984, Grand Cayman KY1-1104
         Cayman Islands


SILOM LIMITED: Shareholder to Receive Wind-Up Report on June 16
---------------------------------------------------------------
The shareholder of Silom Limited will receive on June 16, 2011, at
9:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Linburgh Martin
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034, Grand Cayman KYI-1102
         Cayman Islands


PARTNERS PRIVATE: Shareholders' Final Meeting Set for June 10
-------------------------------------------------------------
The shareholders of Partners Private Equity Management, Inc. will
hold their final meeting on June 10, 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


QUANTICA GENERAL: Shareholders' Final Meeting Set for June 10
-------------------------------------------------------------
The shareholders of Quantica General Partner Inc. will hold their
final meeting on June 10, 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


===============
C O L O M B I A
===============


FABRICATO SA: Paid Down Bankruptcy Debt to COP5.5 Billion
---------------------------------------------------------
Blake Schmidt at Bloomberg News reports that Fabricato SA said it
has paid down its debts under Colombia's bankruptcy law to COP5.6
billion (US$3 million).

The company made a payment of 13.8 billion pesos to the country's
tax agency as part of its obligations under the bankruptcy law, it
said in a regulatory filing, according to Bloomberg.

Fabricato SA is Colombia's biggest textile maker.


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


JAMAICA URBAN TRANSIT: Losses Exceed Half a Billion Dollars
-----------------------------------------------------------
RJR News reports that Mike Henry, the Jamaican Minister of
Transport and Works, said Jamaica Urban Transit Company racked up
losses of more than half a billion dollars in the last fiscal
year.

Mr. Henry told Parliament that government subsidies for students
and the elderly factored heavily in the$554 million shortfall in
revenue to the JUTC, according to RJR News.

RJR News notes that the Transport Minister pointed to significant
reductions in the government's subventions to the JUTC.

"Much improvements have taken place in the company so the
subvention from the Ministry of Finance to cover those persons I
spoke of has been greatly reduced from JM$707.6 million received
in budget year 2008-2009, JM$707.6 million received for budget
year 2009-2010, JM$600 million received in budget year 2010-2011
and a voted amount of only JM$450 million for 2011-2012," Mr.
Henry told Gordon House, the report adds.

               About Jamaica Urban Transit Company

Jamaica Urban Transit Company was established in 1998 to provide a
centrally managed state-of-the-art public bus service.  The
government invested US$6 billion aiming to have an efficient
transport system and for the Jamaican people.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
February 13, 2009, RadioJamaica said JUTC defaulted on loan
obligations with RBTT Bank and Petrocaribe Development Fund, among
others, due to cash flow problems.  The Ministry of Information,
as cited by Radio Jamaica, stated that the JUTC operates an
overdraft facility of US$520 million at the National Commercial
Bank which expired in February.  The report noted that the
Ministry said this facility is consistently utilized at the upper
limit and, on occasions, exceeds the limit giving rise to the
imposition of penalty charges above 43%.


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


ATIZAPAN DE ZARAGOZA: Moody's Downgrades Issuer Rating to 'B1'
--------------------------------------------------------------
Moody's de Mexico downgraded the Municipality of Atizapan's issuer
ratings to B1 (Global Scale, local currency) and Baa2.mx (Mexico
National Scale) from Ba2 and A2.mx, respectively. The outlook on
the issuer ratings remains negative. In addition, Moody's de
Mexico downgraded the debt ratings assigned to the MXN 430 million
enhanced loan (original face value) from Scotiabank to Ba2 (Global
Scale, local currency) and A2.mx (Mexico National Scale) from Baa3
and Aa2.mx, respectively.

                          Ratings Rationale

The downgrades reflect a greater than expected deterioration in
Atizapan's financial and debt indicators in 2010. Specifically,
the municipality registered 1) a sizable increase in its operating
deficit, 2) cash financing requirements for the third consecutive
year, and 3) a continued increase in its already high debt levels,
including a sharp rise in short term debt. The deterioration was
driven by a significant increase in the municipality's operating
expenditures, including personal services, transfers and general
services, which was not offset by a corresponding growth in
revenues.

The negative outlook reflects Moody's expectation that the
Municipality's debt levels will continue to increase and
acknowledges that Atizapan faces significant challenges to reduce
operating expenditures and narrow its fiscal imbalances.
Furthermore, it reflects near to medium term refinancing risks,
given that short term obligations represent a large portion of
total debt.

Atizpan registered a rapid and profound deterioration of operating
margins and recorded a cash financing requirement for a third
consecutive year in 2010. Gross operating balances decreased from
a surplus of 14.8% of operating revenues in 2006 to a deficit of -
19.2% in 2010, and the municipality registered a cash financing
requirement of equal to a substantial 15.8% of total revenues
despite a significant cut in capital expenditures.

The aforementioned financial deterioration resulted in a
significant increase in debt, from no debt in 2006 to 64% of
operating revenues in 2010, which is one of the highest levels of
any Mexican municipality rated by Moody's. This significant
increase in debt burden exerts pressure on Atizapan's already
limited financial flexibility and constrains payment capacity.

In addition, 39.5% of total debt is comprised by short term loans
which has contributed to an extremely weak liquidity position and
potential refinancing risk in the near term. Given that Atizapan
has already pledged the maximum allowed level of 30% of its
federal general fund participation revenues to its existing long
term enhanced loan, it will be challenged in the near term to
raise additional long term funds in order to refinance its short
term debt in Moody' s opinion.

The MXN 430 million (original face value) enhanced loan, issued in
2007, with a current outstanding amount of approximately MXN 390
million, has a maturity of 15 years and an interest coupon
composed of the 28-day Mexican Interbank plus 50 basis points. The
loan is a direct obligation of the Municipality of Atizapan and is
payable through a trust (Banamex NO. 16223-8) to which the
Municipality of Atizapan has pledged the rights to 30% of its
participation revenues.

The action on the loan ratings reflect the downgrade of Atizapan's
issuer ratings. It also incorporates the impact of an amendment to
the loan agreement that has cut reserves levels to MXN 20 Million,
or 6x debt service coverage, from an average of 16.2x. While this
is a significant decrease, Moody's notes that the reserve levels
remain high compared to similar transactions.

Although Moody's does not expect upward pressure on the ratings,
if Atizapan successfully (a) refinances or repays short term
obligations, (b) narrows fiscal imbalances reducing borrowing
needs, and (c) stabilizes debt metrics, these could lead to a
revision of the outlook back to stable.

If Atizapan fails to (a) refinance or repay short term
obligations, (b) reduce gross operating deficits and cash
financing requirements, and (c) limit debt levels below 70% of
operating revenues, these could likely lead to a further downgrade
on the ratings. The ratings on the loan could also be downgraded
if debt service coverages fall materially below Moody's
expectations, though Moody's notes that it has been performing
well to-date, with average debt service coverages in excess of
3.0x.

The principal methodologies used in this rating were Regional and
Local Governments Outside the US published in May 2008, The
Application of Joint Default Analysis to Regional and Local
Governments, published in December 2008 and Enhanced Municipal and
State Loans in Mexico published in January 2011.

Moody's National Scale Ratings (NSRs) are intended as relative
measures of creditworthiness among debt issues and issuers within
a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in
that they are not globally comparable with the full universe of
Moody's rated entities, but only with NSRs for other rated debt
issues and issuers within the same country. NSRs are designated by
a ".nn" country modifier signifying the relevant country, as in
".mx" for Mexico. For further information on Moody's approach to
national scale ratings, please refer to Moody's Rating
Implementation Guidance published in August 2010 entitled "Mapping
Moody's National Scale Ratings to Global Scale Ratings."


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


CARIBBEAN PETROLEUM: To Pay US$8.2MM in Environmental Liabilities
-----------------------------------------------------------------
Under a settlement agreement lodged in federal bankruptcy court in
Delaware, Caribbean Petroleum Corp., Caribbean Petroleum Refining
L.P., and Gulf Petroleum Refining Corp. - Puerto Rico will pay
more than $8.2 million to address environmental liabilities
relating to CAPECO's former petroleum distribution facility in
Bayamon, Puerto Rico, and more than 170 service stations owned or
leased by CAPECO throughout Puerto Rico.

The $8.2 million payment will reimburse the Environmental
Protection Agency (EPA) and the U.S. Coast Guard for cleanup costs
incurred at the Bayamon facility during the bankruptcy, and cover
penalties for violations of the Clean Water Act (CWA) and Resource
Conservation and Recovery Act (RCRA) during the bankruptcy.  The
settlement also provides the United States with allowed general
unsecured claims in excess of $18 million.  Those claims are for
cleanup costs and penalties for violations of the CWA and RCRA
before the bankruptcy, and will be paid based on the availability
of funds in the bankruptcy estate.

CAPECO filed Chapter 11 petitions in the bankruptcy court in
August 2010 following a series of catastrophic explosions and
fires at the Bayamon facility on Oct. 23, 2009.  The explosions,
measuring 2.8 on the earthquake Richter scale, destroyed 15 above-
ground storage tanks and damaged another 17 above-ground storage
tanks, releasing approximately 30 million gallons of petroleum.
EPA, serving as lead federal agency, conducted emergency cleanup
actions with funds from the Oil Spill Liability Trust Fund
administered by the U.S. Coast Guard's National Pollution Funds
Center.  In February 2011, the United States filed proofs of claim
against CAPECO in the bankruptcy proceeding, seeking to recover
cleanup costs as well as penalties for violations of the CWA and
RCRA.

The bankruptcy settlement is part of a broader settlement that
includes three non-bankruptcy agreements announced on May 2, 2011
between EPA and Puma Energy Caribe LLC, under which Puma will
perform cleanup work at the Bayamon facility.  A fourth non-
bankruptcy agreement, among Puma, the EPA and the Commonwealth of
Puerto Rico, requires that Puma undertake comprehensive compliance
measures at 147 of the service stations and make environmentally
beneficial improvements at the service stations that are not
required by regulations.  Puma acquired the Bayamon facility and
147 service stations on May 11, 2011, through a court-ordered
bankruptcy sale.  CAPECO has also agreed to pay $850,000 to
address the costs of investigation and remediation that is
determined to be needed at service stations not acquired by Puma

"This bankruptcy settlement and the earlier agreements with Puma
Energy are the result of a commitment by the United States to
clean up the contaminated CAPECO site after the catastrophic
explosions and fires in October 2009," said Ignacia S. Moreno,
Assistant Attorney General for the Environment and Natural
Resources Division at the Department of Justice.  "T[he]
settlement will send a message to the regulated community that
they cannot declare bankruptcy and avoid environmental
liabilities."

"T[he] bankruptcy settlement and the earlier agreements with the
new owner, Puma, will advance the ongoing work to clean up the
former CAPECO facility," said EPA Regional Administrator Judith
Enck.  "EPA is encouraged that Puma has agreed to perform
necessary environmental work.  EPA will continue to ensure that
the cleanup of this facility, and compliance efforts at the
service stations, are done properly and that the health of people
in the surrounding communities is protected."

The bankruptcy settlement is subject to approval by the bankruptcy
court.  Before approval, the settlement agreement will be lodged
with the court for a period of seven days to afford members of the
public an opportunity to comment on the settlement.

                    About Caribbean Petroleum

San Juan, Puerto Rico-based Caribbean Petroleum Corporation, aka
CAPECO, owns and operates certain facilities in Bayomon, Puerto
Rico for the import, offloading, storage and distribution of
petroleum products.  Caribbean Petroleum sought Chapter 11
protection (Bankr. D. Del. Case No. 10-12553) on Aug. 12, 2010,
nearly 10 months after a massive explosion at its major Puerto
Rican fuel storage depot virtually shut down the company's
operations.  The Debtor estimated assets of US$100 million to
US$500 million and debts of US$500 million to US$1 billion as of
the Petition Date.

Affiliates Caribbean Petroleum Refining, L.P., and Gulf Petroleum
Refining (Puerto Rico) Corporation filed separate Chapter 11
petitions on Aug. 12, 2010.

John J. Rapisardi, Esq., George A. Davis, Esq., Peter Friedman,
Esq., and Zachary H. Smith, Esq, of Cadwalader, Wickersham & Taft
LLP, in New York, serve as lead counsel to the Debtors.  Mark D.
Collins, Esq., and Jason M. Madron, Esq., of Richards, Layton &
Finger, P.A., in Wilmington, Delaware, serve as local counsel.
The Debtors' financial advisor is FTI Consulting Inc.  The
Debtors' chief restructuring officer is Kevin Lavin of FTI
Consulting Inc.  Kurtzman Carson Consultants LLC serves as the
noticing, claims and balloting agent to the Debtors.

In December 2010, the Debtor won bankruptcy court approval to sell
its business to Puma Energy International for US$82 million.  Puma
obtained Capeco's entire retail network, which consists of 157
locations, gasoline, diesel and other fuel storage facilities as
well as undeveloped land and a private deep water jetty.

This is Caribbean Petroleum's second stint in Chapter 11.


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


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

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

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

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

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

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

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

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

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

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

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

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

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

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

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

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

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/


                            ***********


Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to publication.
Prices reported are not intended to reflect actual trades.  Prices
for actual trades are probably different.  Our objective is to
share information, not make markets in publicly traded securities.
Nothing in the TCR-LA constitutes an offer or solicitation to buy
or sell any security of any kind.  It is likely that some entity
affiliated with a TCR-LA editor holds some position in the
issuers' public debt and equity securities about which we report.

Tuesday's edition of the TCR-LA features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com


                            ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Psyche A. Castillon, Julie Anne G.
Lopez, Ivy B. Magdadaro, Frauline S. Abangan, and Peter A.
Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$625 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Christopher Beard at 240/629-3300.


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