TCRLA_Public/110812.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

            Friday, August 12, 2011, Vol. 12, No. 159

                            Headlines



B E R M U D A

DIGICEL GROUP: Gov't Decision on Claro Merger Now on Final Leg
GLOBAL CROSSING: Files Form 10-Q, Incurs US$34-Mil. Net Loss in Q2


B R A Z I L

INDUSTRIAS METALURGICAS: Fitch Affirms 'B+' Issuer Default Ratings
WPE INT'L: Fitch Affirms US$390 Mil. Senior Notes Rating at 'B+'


C A Y M A N   I S L A N D S

CONOCOPHILLIPS (EAST INDONESIA): Shareholders to Meet on Aug. 17
CONOCOPHILLIPS INDONESIA: Shareholders' Meeting Set for August 17
CRYSTAL OPPORTUNITIES: Shareholders' Final Meeting Set for Aug. 19
GOODWILL INVESTMENTS: Member to Hear Wind-Up Report on August 19
MERIDIAN FINANCE: Shareholders' Final Meeting Set for August 15

MERIDIAN REAL: Shareholders' Final Meeting Set for August 15
NGFD-SOVEREIGN: Shareholders' Final Meeting Set for August 23
PARCO INTERNATIONAL: Shareholder to Hear Wind-Up Report on Aug. 19
PEQUOT OFFSHORE: Shareholders' Final Meeting Set for August 19
PEQUOT TMT: Shareholders' Final Meeting Set for August 19

PROTIUM TRADING: Shareholders' Final Meeting Set for August 19
SSF III ZHIVAGO: Shareholders' Final Meeting Set for August 17
SUNAMERICA (CAYMAN): Shareholder Receives Wind-Up Report
TRUCK AND BUS: Members' Final Meeting Set for August 19


M E X I C O

* GUADALAJARA: Moody's 'Ba1' Rating Reflects High Debt Levels


P U E R T O   R I C O

ACADEMIA SAGRADO: Case Summary & 20 Largest Unsecured Creditors
* ADJUNTAS: Dodges Potential Bankruptcy Filing




                            - - - - -


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


DIGICEL GROUP: Gov't Decision on Claro Merger Now on Final Leg
--------------------------------------------------------------
RJR News reports that the Jamaica government is close to making a
disclosure on the proposed merger between Digicel Group Limited
and Claro.

Daryl Vaz, the minister with responsibility for information, told
the news agency in an interview that the process is now on the
final leg.  "It is in the final stages.  We expect a final
decision in a matter of days and an announcement will be made once
a decision is made," RJR News quoted Mr. Vaz as saying.

As reported in the Troubled Company Reporter-Latin America on
May 31, 2011, RJR News related that planned deal between Digicel
Group Limited and Claro has hit a snag.  The snag comes just weeks
before the merger is expected to get regulatory approval, the
report noted.  A separate TCRLA report on March 23, 2011, citing
RadioJamaica, related that Digicel signed the agreement with
America Movil.  The deal will also see Digicel selling its
business in El Salvador and Honduras to America Movil, according
to RadioJamaica.  The RJR News noted that telecommunication
company LIME Jamaica has asked the government, the Office of
Utilities Regulations, and the Fair Trading Commission to assess
the deal.  LIME asserted that assessment should be done before
approval of the deal is given by the relevant minister, the RJR
News stated.

                        About Digicel Group

Digicel Group Limited -- http://www.digicelgroup.com/-- is
renowned for competitive rates, unbeatable coverage, superior
customer care, a wide variety of products and services and state-
of-the-art handsets.  By offering innovative wireless services and
community support, Digicel has become a leading brand across its
31 markets worldwide.

Digicel is incorporated in Bermuda and now has operations in 31
markets worldwide.  Its Caribbean and Central American markets
comprise Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda,
Bonaire, the British Virgin Islands, the Cayman Islands, Curacao,
Dominica, El Salvador, French Guiana, Grenada, Guadeloupe, Guyana,
Haiti, Honduras, Jamaica, Martinique, Panama, St Kitts & Nevis,
St. Lucia, St. Vincent & the Grenadines, Suriname, Trinidad &
Tobago and Turks & Caicos.  The Caribbean company also has
coverage in St. Martin and St. Barths.  Digicel Pacific comprises
Fiji, Papua New Guinea, Samoa, Tonga and Vanuatu.

                         *     *     *

As of August 11, 2010, the company continues to carry Moody's
"Caa1" senior unsecured debt rating.


GLOBAL CROSSING: Files Form 10-Q, Incurs US$34-Mil. Net Loss in Q2
------------------------------------------------------------------
Global Crossing Limited filed with the U.S. Securities and
Exchange Commission its quarterly report on Form 10-Q reporting a
net loss of US$34 million on US$692 million of revenue for the
three months ended June 30, 2011, compared with a net loss of
US$47 million on US$630 million of revenue for the same period
during the prior year.

The Company also reported a net loss of US$67 million on
US$1.35 billion of revenue for the six months ended June 30, 2011,
compared with a net loss of US$166 million on US$1.27 billion of
revenue for the same period a year ago.

The Company's balance sheet at June 30, 2011, showed US$2.28
billion in total assets, US$2.83 billion in total liabilities and
a US$548 million total shareholders' deficit.

A full-text copy of the Form 10-Q is available for free at:

                        http://is.gd/q0LAUS

                       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.

Global Crossing Limited reported a consolidated net loss of
US$172 million on US$2.609 billion of consolidated revenue for the
twelve months ended Dec. 31, 2010, compared with a net loss of
US$141 million on US$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
US$150 million of senior unsecured notes due 2019.  The '6'
recovery rating indicates S&P's expectation for negligible (0%-
10%) recovery in the event of a payment default.


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


INDUSTRIAS METALURGICAS: Fitch Affirms 'B+' Issuer Default Ratings
------------------------------------------------------------------
Fitch Ratings has affirmed these ratings of Industrias
Metalurgicas Pescarmona S.A.I.C.y F. (IMPSA):

  -- Foreign Currency Issuer Default Rating (IDR) at 'B+';
  -- Local Currency IDR at 'B+';
  -- US$225 million Senior Unsecured Notes due 2014, at 'B+'/RR4

Concurrently with these rating actions, Fitch has upgraded IMPSA's
national scale ratings to 'AA(arg)' from 'AA-(arg)'.

The Rating Outlook is Stable.

IMPSA's 'B+' ratings reflect the positive trend for the company's
long-term business fundamentals due to sustained global demand for
hydro and wind power generating equipment.  They also incorporate
the company's growing business presence in Brazil and its sizeable
backlog, which provides some certainty to the company's cash
generation over the medium term.  Balanced against these strengths
are the company's high leverage, aggressive capital expenditure
program and its backlog concentration on a few large projects in
developing countries.  A sudden downturn in the key markets would
negatively impact IMPSA's ability to develop new projects.

Fitch expects revenues and EBITDA from Brazil to represent more
than 65% of IMPSA's consolidated figures from 2011 onwards.  The
growth of the company's business in Brazil has reduced IMPSA's
exposure to more volatile markets such as Argentina and has
increased its access to multiple funding sources.  This has
enabled the company's foreign currency rating to be rated above
the 'B' country ceiling of Argentina.

As of April 30, 2011, IMPSA's backlog was US$3.6 billion, an
improvement from the US$3.16 billion during January 2011 and
US$2.16 billion during January 2010.  Given the long-term
production cycle of IMPSA's developments, usually in the range of
30 months, this backlog level provides some certainty to the
company's cash generation in the medium term.  Although the
company expanded its operations throughout Latin America, backlog
concentration remains somewhat high, with five projects
representing 56% of total backlog as of April 2011.  The main
projects in the hydro equipment business unit are Belo Monte
(Brazil) and Tocoma (Venezuela), whereas the main projects in the
wind equipment unit are Ceara II, Ceara III and CHESF, all located
in Brazil.

For the 12 months ended January 31, 2011, IMPSA's revenues and
EBITDA grew to US$1.013 million and US$183 million, respectively,
from US$641 million and US$125 million during FY 2010. Fitch
expects IMPSA's EBITDA to grow to more than US$235 million during
the fiscal year ended (FYE) Jan. 31, 2012.  The company's free
cash flow (FCF) is anticipated to remain negative during 2011 and
2012 due to capital expenditures and growing working capital
needs.  Investments in the construction of wind farms are
estimated at approximately US$300 million and US$680 million for
those years, respectively.  Much of the cash deficit will be
funded with non-recourse, project financing.  For the fiscal year
ended in January 2012, Fitch expects IMPSA's total debt with
recourse to increase to approximately US$670 million from US$633
million at FYE January 2011, resulting in a total debt (with
recourse)-to-EBITDA ratio around 3 times (x).  This ratio is an
improvement from 3.4x for the FYE January 2011 and 3.5x for the
FYE ended January 2010.

During 2010 IMPSA underwent a liability management program that
included the creation of WPE International Coorperatief (WPEI).
Between September 2010 and March 2011, WPEI issued US$390 million
notes due in 2020.  These notes are irrevocably and
unconditionally guaranteed by IMPSA and WPE (IMPSA's Brazilian
subsidiary) on a senior unsecured basis.  Through this issuances,
IMPSA extended its debt average life to seven years from 2.4
years, as part of the proceeds were used to repurchase US$188
million out of the US$225 million notes maturing 2014.  Proceeds
were also used to cancel short term loans and finance CAPEX needs.

The company's ratings could come under pressure if non-recourse
financing increases above levels anticipated by Fitch, any
material performance problems that threaten future projects and
cash flow, or a failure to comply with the terms for the operation
of the wind farms (for which long term PPAs have been signed with
Eletrobras and the CCEE).


WPE INT'L: Fitch Affirms US$390 Mil. Senior Notes Rating at 'B+'
----------------------------------------------------------------
Fitch Ratings has affirmed the following ratings of WPE
International Coorperatief (WPEI):

  -- Foreign Currency Issuer Default Rating (IDR) at 'B+';
  -- Local Currency IDR at 'B+';
  -- US$390 million senior unsecured notes due 2020 at 'B+'/RR4.

The Rating Outlook is stable.

WPEI is a direct subsidiary of WPE, which in turn is wholly owned
by Industrias Metalurgicas Pescarmona (IMPSA).  WPEI's notes are
irrevocably and unconditionally guaranteed by IMPSA and WPE on a
senior unsecured basis.  The ratings reflect the creditworthiness
of the guarantors.  Fitch currently rates IMPSA 'B+', and WPE is a
fully owned subsidiary of IMPSA with strong operating, strategic
and financial ties to its parent company.  The 'B+' IDR assumes
all WPEI's future debt issuances would be fully and
unconditionally guaranteed by IMPSA and will rank pari passu with
IMPSA's senior unsecured debt.

The Rating Outlook is Stable.

IMPSA's 'B+' ratings reflect the positive trend for the company's
long-term business fundamentals due to sustained global demand for
hydro and wind power generating equipment.  They also incorporate
the company's growing business presence in Brazil and its sizeable
backlog, which provides some certainty to the company's cash
generation over the medium term.  Balanced against these strengths
are the company's high leverage, aggressive capital expenditure
program and its backlog concentration on a few large projects in
developing countries.  A sudden downturn in the key markets would
negatively impact IMPSA's ability to develop new projects.

Fitch expects revenues and EBITDA from Brazil to represent more
than 65% of IMPSA's consolidated figures from 2011 onwards.  The
growth of the company's business in Brazil has reduced IMPSA's
exposure to more volatile markets such as Argentina and has
increased its access to multiple funding sources.  This has
enabled the company's foreign currency rating to be rated above
the 'B' country ceiling of Argentina.

As of April 30, 2011, IMPSA's backlog was US$3.6 billion, an
improvement from the US$3.16 billion during January 2011 and
US$2.16 billion during January 2010.  Given the long-term
production cycle of IMPSA's developments, usually in the range of
30 months, this backlog level provides some certainty to the
company's cash generation in the medium term.  Although the
company expanded its operations throughout Latin America, backlog
concentration remains somewhat high, with five projects
representing 56% of total backlog as of April 2011.  The main
projects in the hydro equipment business unit are Belo Monte
(Brazil) and Tocoma (Venezuela), whereas the main projects in the
wind equipment unit are Ceara II, Ceara III and CHESF, all located
in Brazil.

For the 12 months ended Jan. 31, 2011, IMPSA's revenues and EBITDA
grew to US$1.013 million and US$183 million, respectively, from
US$641 million and US$125 million during FY 2010.  Fitch expects
IMPSA's EBITDA to grow to more than US$235 million during the
fiscal year ended (FYE) Jan. 31, 2012.  The company's free cash
flow (FCF) is anticipated to remain negative during 2011 and 2012
due to capital expenditures and growing working capital needs.
Investments in the construction of wind farms are estimated at
approximately US$300 million and US$680 million for those years,
respectively.  Much of the cash deficit will be funded with non-
recourse, project financing.  For the fiscal year ended in January
2012, Fitch expects IMPSA's total debt with recourse to increase
to approximately US$670 million from US$633 million at FYE January
2011, resulting in a total debt (with recourse)-to-EBITDA ratio
around 3 times (x).  This ratio is an improvement from 3.4x for
the FYE January 2011 and 3.5x for the FYE ended January 2010.

During 2010 IMPSA underwent a liability management program that
included the creation of WPEI.  Between September 2010 and March
2011, WPEI issued US$390 million notes due in 2020.  These notes
are irrevocably and unconditionally guaranteed by IMPSA and WPE
(IMPSA's Brazilian subsidiary) on a senior unsecured basis.
Through this issuances, IMPSA extended its debt average life to
seven years from 2.4 years, as part of the proceeds were used to
repurchase US$188 million out of the US$ 225 million notes
maturing 2014. Proceeds were also used to cancel short-term loans
and finance CAPEX needs.

The company's ratings could come under pressure if non-recourse
financing increases above levels anticipated by Fitch, any
material performance problems that threaten future projects and
cash flow, or a failure to comply with the terms for the operation
of the wind farms (for which long-term power purchase agreements
have been signed with Eletrobras and the CCEE).


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


CONOCOPHILLIPS (EAST INDONESIA): Shareholders to Meet on Aug. 17
----------------------------------------------------------------
The shareholders of Conocophillips (East Indonesia) Ltd. will hold
their final meeting on August 17, 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:

         Trident Liquidators (Cayman) Limited
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949 0880
         Facsimile: (345) 949 0881
         P.O. Box 847 George Town
         Grand Cayman KY1-1103


CONOCOPHILLIPS INDONESIA: Shareholders' Meeting Set for August 17
-----------------------------------------------------------------
The shareholders of Conocophillips Indonesia Ventures Ltd. will
hold their final meeting on August 17, 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:

         Trident Liquidators (Cayman) Limited
         c/o Mrs. Eva Moore
         Trident Trust Company (Cayman) Limited
         Telephone: (345) 949 0880
         Facsimile: (345) 949 0881
         P.O. Box 847 George Town
         Grand Cayman KY1-1103


CRYSTAL OPPORTUNITIES: Shareholders' Final Meeting Set for Aug. 19
------------------------------------------------------------------
The shareholders of Crystal Opportunities Fund Offshore II, Ltd.
will hold their final meeting on August 19, 2011, at 11:45 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


GOODWILL INVESTMENTS: Member to Hear Wind-Up Report on August 19
----------------------------------------------------------------
The member of Goodwill Investments Ltd. will receive on August 19,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Commerce Corporate Services Limited
         Telephone: 949 8666
         Facsimile: 949 0626
         PO Box 694 Grand Cayman
         Cayman Islands


MERIDIAN FINANCE: Shareholders' Final Meeting Set for August 15
---------------------------------------------------------------
The shareholders of Meridian Real Estate Finance Company II will
hold their final meeting on August 15, 2011, at 11:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ahmed Al Khatib
         P.O. Box 309 Grand Cayman
         Cayman Islands


MERIDIAN REAL: Shareholders' Final Meeting Set for August 15
------------------------------------------------------------
The shareholders of Meridian Real Estate Investment Company II
will hold their final meeting on August 15, 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:

         Ahmed Al Khatib
         P.O. Box 309 Grand Cayman
         Cayman Islands


NGFD-SOVEREIGN: Shareholders' Final Meeting Set for August 23
-------------------------------------------------------------
The shareholders of NGFD-Sovereign Bond Trading Ltd. will hold
their final meeting on August 23, 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:

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


PARCO INTERNATIONAL: Shareholder to Hear Wind-Up Report on Aug. 19
------------------------------------------------------------------
The sole shareholder of Parco International Corp will receive on
August 19, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Commerce Corporate Services Limited
         Telephone: 949 8666
         Facsimile: 949 0626
         PO Box 694 Grand Cayman
         Cayman Islands


PEQUOT OFFSHORE: Shareholders' Final Meeting Set for August 19
--------------------------------------------------------------
The shareholders of Pequot TMT Offshore Fund, Ltd. will hold their
final meeting on August 19, 2011, at 12:45 p.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


PEQUOT TMT: Shareholders' Final Meeting Set for August 19
---------------------------------------------------------
The shareholders of Pequot TMT Master Fund, Ltd. will hold their
final meeting on August 19, 2011, at 12:30 p.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


PROTIUM TRADING: Shareholders' Final Meeting Set for August 19
--------------------------------------------------------------
The shareholders of Protium Trading Ltd. will hold their final
meeting on August 19, 2011, at 12:15 p.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


SSF III ZHIVAGO: Shareholders' Final Meeting Set for August 17
--------------------------------------------------------------
The shareholders of SSF III Zhivago Holding, Ltd. will hold their
final meeting on August 17, 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:

         Ogier
         Jennifer Parsons
         Telephone: (345) 815-1820
         Facsimile: (345) 949-9877


SUNAMERICA (CAYMAN): Shareholder Receives Wind-Up Report
--------------------------------------------------------
The sole shareholder of Sunamerica (Cayman) Company, Ltd. received
on August 10, 2011, the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidator is:

         N. Scott Gillis
         c/o Willis Management (Cayman) Ltd.
         Governors Square, 62 Forum Lane, 3rd Floor
         Camana Bay
         P.O. Box 30600 Grand Cayman KY1-1203
         Cayman Islands
         Telephone: (345) 949 6039
         Facsimile: (345) 949 6621


TRUCK AND BUS: Members' Final Meeting Set for August 19
-------------------------------------------------------
The members of Truck and Bus Finance Corp. will hold their final
meeting on August 19, 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:

         Mr. Helmut Kohler
         Av. Luis Pasteur 5842, Ofic. 301
         Vitacura
         Santiago, Chile


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


* GUADALAJARA: Moody's 'Ba1' Rating Reflects High Debt Levels
-------------------------------------------------------------
In its most recent report on the Municipality of Guadalajara,
Moody's Investors Service says that the Mexican Municipality's
issuer ratings of A1.mx (Mexico National Scale) and Ba1 (Global
Scale, local currency) reflect relatively high debt levels, offset
by consistent positive operating margins that generate pay-as-you-
go financing for capital projects.

"At the end of 2010, net direct and indirect debt was equivalent
to 34.9% of total revenues, but Moody's expects this ratio to
increase to approximately 55% in the short term given the
ambitious capital plan of the municipality." Says Roxana Munoz,
Analyst of the Sub-Sovereign Team.

This high debt level is offset by ongoing measures to reduce
operating expenditures and increase tax collection, and by the
strong and diversified local economy supporting Guadalajara's
productive own-source revenue base.

The ratings also take into account cash financing surpluses
registered, equivalent to 3.4% of total revenues on average,
during the last five years, as well as a positive liquidity
position equivalent to 7.3% of total expenditures at the end of
2010.


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


ACADEMIA SAGRADO: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Academia Sagrado Corazon, Inc.
        P.O. Box 11368
        San Juan, PR 00910

Bankruptcy Case No.: 11-06681

Chapter 11 Petition Date: August 8, 2011

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

Debtor's Counsel: Carlos Rodriguez Quesada, Esq.
                  LAW OFFICE OF CARLOS RODRIGUEZ QUES
                  P.O. Box 9023115
                  San Juan, PR 00902-3115
                  Tel: (787) 724-2867
                  E-mail: cerqlaw@coqui.net

Scheduled Assets: US$2,000,000

Scheduled Debts: US$190,089

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at:
http://bankrupt.com/misc/prb11-06681.pdf

The petition was signed by Lcdo. Moises Gomez, vice-president.


* ADJUNTAS: Dodges Potential Bankruptcy Filing
----------------------------------------------
Caribbean Business reports that the Adjuntas municipal government
was spared a potential bankruptcy filing when the plaintiffs in a
US$12.5 million political discrimination suit agreed to forgo half
of the interest on the outstanding settlement balance.

U.S. District Judge Jose Fuste embargoed some US$9 million in
Adjuntas accounts last week to compel the government of the
mountain town to pay the US$6.6 million balance, including
principle and interest, according to Caribbean Business.  The
report relates that after the plaintiffs agreed to take a 50% cut
in the interest owed, the Adjuntas accounts were unfrozen by the
judge on August 9.

Caribbean Business discloses that Adjuntas Mayor Jaime Barlucea,
of the New Progressive Party, has struck a deal to pay off the
settlement balance with a loan from the island's Government
Development Bank.

The report notes that with half of the interest forgiven, the
settlement debt still tops US$5.3 million.  Each plaintiff will
receive just over US$84,000 within the next 90 days, Caribbean
Business relates.

The political discrimination lawsuit dates back to the previous
administration of former Adjuntas Mayor Roberto Vera Monroig,
Caribbean Business notes.

The report says that the judgment stems from a lawsuit filed by
more than 80 municipal workers who claimed they were illegally
fired for political reasons by Vera Monroig, of the Popular
Democratic Party.

Adjuntas is a small mountainside municipality in Puerto Rico


                            ***********


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, Ivy B.
Magdadaro, Frauline S. Abangan, and Peter A. Chapman, Editors.

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

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

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

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


                   * * * End of Transmission * * *