TCRLA_Public/110818.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, August 18, 2011, Vol. 12, No. 163

                            Headlines



A R G E N T I N A

FIDEICOMISO FINANCIERO: Moody's Rates Class A Debt Securities Ba1


B E R M U D A

CIT FSC TWO: Creditors' Proofs of Debt Due August 26
CIT FSC TWO: Members' Final Meeting Set for September 20
CIT FSC THREE: Creditors' Proofs of Debt Due August 26
CIT FSC THREE: Members' Final Meeting Set for September 20
CIT FSC FOUR: Creditors' Proofs of Debt Due August 26

CIT FSC FOUR: Members' Final Meeting Set for September 20
CIT FSC SIX: Creditors' Proofs of Debt Due August 26
CIT FSC SIX: Members' Final Meeting Set for September 20
CIT FSC EIGHT: Creditors' Proofs of Debt Due August 26
CIT FSC EIGHT: Members' Final Meeting Set for September 20

CIT FSC SIXTEEN: Creditors' Proofs of Debt Due August 26
CIT FSC SIXTEEN: Members' Final Meeting Set for September 20
PROVIEW INTERNATIONAL: Court to Hear Wind-Up Petition on August 26
SPARTAN INSURANCE: Members' Final Meeting Set for August 31


B R A Z I L

IMCOPA IMPORTACAO: S&P Withdraws 'D' GC Corporate Credit Rating


C A Y M A N   I S L A N D S

CARIBBEAN ISLAND: Court Places Firm Under Voluntary Wind-Up
CORAZON ARGENTUM: Creditors' Proofs of Debt Due August 31
CUADRO INVESTMENTS: Creditors' Proofs of Debt Due August 24
DALGETTY LIMITED: Creditors' Proofs of Debt Due September 1
DORCHESTER CAPITAL: Creditors' Proofs of Debt Due August 31

G.T.F. GLOBAL: Creditors' Proofs of Debt Due September 5
GLOBAL MDA: Creditors' Proofs of Debt Due August 22
KIOICHO HOLDINGS: Creditors' Proofs of Debt Due August 31
MIDAS FUND: Creditors and Investors to Hold Meeting on August 23
PINSTRIPE INVESTMENTS: Creditors' Proofs of Debt Due August 24

PLIBA HOLDINGS: Creditors' Proofs of Debt Due August 31
RASMALA EGYPT: Creditors' Proofs of Debt Due September 1
SUPER VIVA: Creditors' Proofs of Debt Due September 1
XINHUA SPORTS: Commences Wind-Up Proceedings


J A M A I C A

CARIBBEAN CEMENT: Incurs JM$608 Million Loss in Second Quarter


P U E R T O   R I C O

PICHI'S INC: Status Conference Set for Oct. 6
PICHI'S INC: Creditors' Meeting on Sept. 12; Claims Due Dec. 12
PICHI'S INC: Hiring Charles Alfred Cuprill as Bankruptcy Counsel
PICHI'S INC: Hiring Luis R. Carrasquillo as Financial Consultant


T R I N I D A D  &  T O B A G O

CL FIN'L: Bondholders Give One Month Reprieve for Bond Payment
CL FINANCIAL: St. Vincent Bank Faces Lawsuit Over CLICO Collapse


T U R K S  &  C A I C O S

OLINT CORP: Investors Won't Get Their Money Back, ACOM Says


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                            - - - - -


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


FIDEICOMISO FINANCIERO: Moody's Rates Class A Debt Securities Ba1
-----------------------------------------------------------------
Moody's Latin America has rated the debt securities and
certificates of Fideicomiso Financiero Supervielle Creditos Banex
49 issued by Deustche Bank S.A. - acting solely in its capacity as
Issuer and Trustee.

- ARS55,200,000 in Class A Fixed Rate Debt Securities of
  "Fideicomiso Financiero Supervielle Creditos Banex 49", rated
  Aaa.ar (sf) (Argentine National Scale) and Ba1 (sf) (Global
  Scale, Local Currency)

- ARS50,400,000 in Floating Rate Debt Securities of "Fideicomiso
  Financiero Supervielle Creditos Banex 49", rated Aaa.ar (sf)
  (Argentine National Scale) and Ba1 (sf) (Global Scale, Local
  Currency)

- ARS9,600,000 in Class C Fixed Rate Debt Securities of
  "Fideicomiso Financiero Supervielle Creditos Banex 49", rated
  A2.ar (sf) (Argentine National Scale) and B3 (sf) (Global Scale,
  Local Currency)

- ARS4,800,000 in Certificates of "Fideicomiso Financiero
  Supervielle Creditos Banex 49", rated B1.ar (sf) (Argentine
  National Scale) and Caa2 (sf) (Global Scale, Local Currency)

Ratings Rationale

The rated securities are payable from the cash flow coming from
the assets of the trust, which is an amortizing pool of
approximately 26,764 eligible personal loans denominated in
Argentine pesos, with a fixed interest rate, originated by Banco
Supervielle, in an aggregate amount of ARS120,002,584.36.

These personal loans are granted to pensioners that receive their
monthly pensions from ANSES (Argentina's National Governmental
Agency of Social Security - Administracion Nacional de la
Seguridad Social).  The pool is also constituted by loans granted
to government employees of the Province of San Luis. Banco
Supervielle is the payment agent entity and automatically deducts
the monthly loan installment directly from the employee's paycheck
and pensioner's payment.

The Class A Fixed Rate Debt Securities will bear a fixed interest
rate of 13.50%.  The Floating Rate Debt Securities will bear a
BADLAR interest rate plus a spread of 400 bp.  The Floating Rate
Debt Securities' interest rate will never be higher than 21% or
lower than 13%.  The Class C Fixed Rate Securities will bear a
fixed interest rate of 21%.

Overall credit enhancement is comprised of subordination: 54% for
the Class A Fixed Rate Debt Securities, 12% for the Floating Rate
Securities and 4% for the Class C Fixed Rate Securities. In
addition the transaction has various reserve funds and excess
spread.


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


CIT FSC TWO: Creditors' Proofs of Debt Due August 26
----------------------------------------------------
The creditors of CIT FSC Two, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC TWO: Members' Final Meeting Set for September 20
--------------------------------------------------------
The members of CIT FSC Two, Ltd. will hold their final meeting on
September 20, 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 August 10, 2011.

The company's liquidator is:

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


CIT FSC THREE: Creditors' Proofs of Debt Due August 26
------------------------------------------------------
The creditors of CIT FSC Three, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC THREE: Members' Final Meeting Set for September 20
----------------------------------------------------------
The members of CIT FSC Three, Ltd. will hold their final meeting
on September 20, 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 August 10, 2011.

The company's liquidator is:

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


CIT FSC FOUR: Creditors' Proofs of Debt Due August 26
-----------------------------------------------------
The creditors of CIT FSC Four, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC FOUR: Members' Final Meeting Set for September 20
---------------------------------------------------------
The members of CIT FSC Four, Ltd. will hold their final meeting on
September 20, 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 August 10, 2011.

The company's liquidator is:

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


CIT FSC SIX: Creditors' Proofs of Debt Due August 26
----------------------------------------------------
The creditors of CIT FSC Six, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC SIX: Members' Final Meeting Set for September 20
--------------------------------------------------------
The members of CIT FSC Six, Ltd. will hold their final meeting on
September 20, 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 August 10, 2011.

The company's liquidator is:

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


CIT FSC EIGHT: Creditors' Proofs of Debt Due August 26
------------------------------------------------------
The creditors of CIT FSC Eight, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC EIGHT: Members' Final Meeting Set for September 20
----------------------------------------------------------
The members of CIT FSC Eight, Ltd. will hold their final meeting
on September 20, 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 August 10, 2011.

The company's liquidator is:

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


CIT FSC SIXTEEN: Creditors' Proofs of Debt Due August 26
--------------------------------------------------------
The creditors of CIT FSC Sixteen, Ltd. are required to file their
proofs of debt by August 26, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on August 10, 2011.

The company's liquidator is:

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


CIT FSC SIXTEEN: Members' Final Meeting Set for September 20
------------------------------------------------------------
The members of CIT FSC Sixteen, Ltd. will hold their final meeting
on September 20, 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 August 10, 2011.

The company's liquidator is:

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


PROVIEW INTERNATIONAL: Court to Hear Wind-Up Petition on August 26
------------------------------------------------------------------
The Supreme Court of Bermuda will hear on August 26, 2011, at
9:30 a.m., a petition to wind up the operations of Proview
International Holdings Limited.

Chan Iok Leng filed the petition against the company.


SPARTAN INSURANCE: Members' Final Meeting Set for August 31
-----------------------------------------------------------
The members of Spartan Insurance Company Ltd. will hold their
final meeting on August 31, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The meeting will be held at KPMG Advisory Limited, Crown House, 4
Par-la-Ville Road in Hamilton, Bermuda.


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


IMCOPA IMPORTACAO: S&P Withdraws 'D' GC Corporate Credit Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services withdrew its 'D' global scale
corporate credit rating on Brazil-based soy processor Imcopa
Importacao, Exportacao e Industria de Oleos S.A. (Imcopa). "We
also withdrew our 'D' senior unsecured rating on Imcopa
International S.A. Imcopa missed a coupon payment in June 2009 and
has been renegotiating with creditors since then, but hasn't
reached a final agreement," S&P added.


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


CARIBBEAN ISLAND: Court Places Firm Under Voluntary Wind-Up
-----------------------------------------------------------
On July 8, 2011, the Grand Court of Cayman Islands entered an
order that winds up the operations of Caribbean Island
Developments Ltd.

The company's liquidators are:

         Graham Robinson
         Peter D. Anderson
         RHSW (Cayman) Limited
         P.O. Box 897, 1 Windward, Regatta Office Park
         Grand Cayman KY1-1103
         Cayman Islands


CORAZON ARGENTUM: Creditors' Proofs of Debt Due August 31
---------------------------------------------------------
The creditors of Corazon Argentum Fund Limited are required to
file their proofs of debt by August 31, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 18, 2011.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Jennifer Chailler
         Telephone: (345) 814 6847
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands


CUADRO INVESTMENTS: Creditors' Proofs of Debt Due August 24
-----------------------------------------------------------
The creditors of Cuadro Investments Limited are required to file
their proofs of debt by August 24, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on July 21, 2011.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487 Grand Cayman KY1-1106
         Cayman Islands
         Telephone:  345 949-7128


DALGETTY LIMITED: Creditors' Proofs of Debt Due September 1
-----------------------------------------------------------
The creditors of Dalgetty Limited are required to file their
proofs of debt by September 1, 2011, to be included in the
company's dividend distribution.

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

The company's liquidator is:

         Linburgh Martin
         c/o Neil Gray
         Telephone: (345) 949 8455
         Facsimile: (345) 949 8499
         Close Brothers (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034 Grand Cayman KY1-1102
         Cayman Islands


DORCHESTER CAPITAL: Creditors' Proofs of Debt Due August 31
-----------------------------------------------------------
The creditors of Dorchester Capital International Retirement Plan,
Ltd. are required to file their proofs of debt by August 31, 2011,
to be included in the company's dividend distribution.

The company commenced liquidation proceedings on July 21, 2011.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Jennifer Chailler
         Telephone: (345) 814 6847
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands


G.T.F. GLOBAL: Creditors' Proofs of Debt Due September 5
--------------------------------------------------------
The creditors of G.T.F. Global Trends Fund Ltd are required to
file their proofs of debt by September 5, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 20, 2011.

The company's liquidator is:

         DMS Corporate Services Ltd.
         c/o Bernadette Bailey-Lewis
         Telephone: (345) 946 7665
         Facsimile: (345) 946 7666
         dms House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


GLOBAL MDA: Creditors' Proofs of Debt Due August 22
---------------------------------------------------
The creditors of Global MDA, SPC are required to file their proofs
of debt by August 22, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 28, 2011.

The company's liquidator is:

         Steven Lencke
         870 Commercial Lane
         Palmer Lake, Colorado 80133
         USA


KIOICHO HOLDINGS: Creditors' Proofs of Debt Due August 31
---------------------------------------------------------
The creditors of Kioicho Holdings Inc. are required to file their
proofs of debt by August 31, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on July 19, 2011.

The company's liquidator is:

         Walkers SPV Limited
         c/o Jennifer Chailler
         Telephone: (345) 814 6847
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands


MIDAS FUND: Creditors and Investors to Hold Meeting on August 23
----------------------------------------------------------------
The creditors and investors of Midas Fund, Ltd. will hold their
meeting on August 23, 2011, at 10:00 a.m., at EST, Zolfo Cooper,
4th Floor, Building 3, Cayman Financial Centre in George Town,
Grand Cayman KY1-1102, Cayman Islands.

The company's liquidator is:

         Richard E. L. Fogerty
         c/o Iain Gow
         Zolfo Cooper
         Cayman Financial Centre, 4th Floor
         Dr. Roy's Drive
         Grand Cayman KY1-1102
         Cayman Islands
         Telephone: +1 (345) 814 4039
         Facsimile: +1 (345) 946-0082
         e-mail: iain.gow@zolfocooper.ky


PINSTRIPE INVESTMENTS: Creditors' Proofs of Debt Due August 24
--------------------------------------------------------------
The creditors of Pinstripe Investments Limited are required to
file their proofs of debt by August 24, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on July 20, 2011.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487 Grand Cayman KY1-1106
         Cayman Islands
         Telephone:  345 949-7128


PLIBA HOLDINGS: Creditors' Proofs of Debt Due August 31
-------------------------------------------------------
The creditors of Pliba Holdings Inc. are required to file their
proofs of debt by August 31, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on July 18, 2011.

The company's liquidator is:

         Walkers SPV Limited
         c/o Jennifer Chailler
         Telephone: (345) 814 6847
         Walker House
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands


RASMALA EGYPT: Creditors' Proofs of Debt Due September 1
--------------------------------------------------------
The creditors of Rasmala Egypt Equity Fund Ltd. are required to
file their proofs of debt by September 1, 2011, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on July 13, 2011.

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


SUPER VIVA: Creditors' Proofs of Debt Due September 1
-----------------------------------------------------
The creditors of Super Viva Asset Inc. are required to file their
proofs of debt by September 1, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 20, 2011.

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


XINHUA SPORTS: Commences Wind-Up Proceedings
--------------------------------------------
On July 8, 2011, the Grand Court of Cayman Islands entered an
order to wind up the operations of Xinhua Sports & Entertainment
Limited.

The company's liquidator is:

         Hugh Dickson
         c/o John Royle
         Telephone: (345) 769 7206
         Facsimile: (345) 949 7120
         10 Market Street, #765 Camana Bay
         Grand Cayman KY1-9006
         Cayman Islands


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


CARIBBEAN CEMENT: Incurs JM$608 Million Loss in Second Quarter
--------------------------------------------------------------
Caribbean Cement Company Limited has incurred a JM$608.08 million
loss in the three months ended April to June 2011 from JM$217.95
million loss in the same period last year.

The company incurred JM$857.56 million loss in the six months
ended January to June 2011 from a JM$213.40 million in the same
period 2010.

Caribbean Cement posted a JM$1.58 billion loss in the year ended
2010.

The Company's balance sheet at June 30, 2011, showed JM$6.35
billion non-current assets, JM$2.92 billion current assets,
JM$5.01 billion current liabilities, and JM$2.10 billion non-
current liabilities for total net assets of JM$2.16 billion.

A full text copy of the company's financial results is available
free at http://ResearchArchives.com/t/s?76af

Caribbean Cement Company Limited manufactures and sells cement.


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


PICHI'S INC: Status Conference Set for Oct. 6
---------------------------------------------
The Bankruptcy Court scheduled a status conference in the
bankruptcy case of Pichi's Inc. for Oct. 6, 2011, at 9:30 a.m., at
U.S. Post Office and Courthouse Bldg 300 Recinto Sur Street, Fifth
Floor Courtroom 5.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PICHI'S INC: Creditors' Meeting on Sept. 12; Claims Due Dec. 12
---------------------------------------------------------------
The United States Trustee in Puerto Rico will convene a meeting of
creditors pursuant to Sec. 341(a) of the Bankruptcy Code in the
bankruptcy cases of Pichi's Inc. on Sept. 12, 2011 at 9:00 a.m. at
341 Meeting Room, Ochoa Building, 500 Tanca Street, First Floor,
in San Juan.

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

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

The last day to oppose discharge or dischargeability is Nov. 14,
2011.  Proofs of claim are due by Dec. 12, 2011.  Government
proofs of claim are due by Feb. 1, 2012.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.  CPA Luis
R. Carrasquillo & Co., P.S.C., serves as financial consultants.
In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


PICHI'S INC: Hiring Charles Alfred Cuprill as Bankruptcy Counsel
----------------------------------------------------------------
Pichi's Inc. asks the Bankruptcy Court in Puerto Rico for
permission to employ Charles Alfred Cuprill, PSC Law Offices as
its bankruptcy counsel.

The Debtor has paid the firm US$22,4000 as retainer.  The firm
charges US$350 per hour for Charles A. Cuprill-Hernandez, Esq.;
US$225 an hour for senior associates; $150 an hour for junior
associations; and US$75 for paralegals.

Mr. Cuprill-Hernandez, Esq., discloses that his firm has
represented a Pichi's creditor, the Puerto Rico Tourism
Development Fund in the bankruptcy case styled In re Palmas
Country Club, Inc., case number 10-07072 (SEK).  Another creditor,
V. Suarez & Co., is a shareholder of Cuprill's client, Procesadora
Campofresco, Inc.  Notwithstanding, Mr. Cuprill-Hernandez, attests
that his firm is a disinterested person as defined in Sec. 101(14)
of the Bankruptcy Code.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  The Debtor's lawyers may be
reached at:

          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

CPA Luis R. Carrasquillo & Co., P.S.C., serves as financial
consultants.

In its petition, Pichi's estimated US$10 million to US$50 million
in both assets and debts.  The petition was signed by Luis A.
Emmanuelli Gonzalez, president.


PICHI'S INC: Hiring Luis R. Carrasquillo as Financial Consultant
----------------------------------------------------------------
Pichi's Inc. is in need of a financial consultant to assist its
management in the financial restructuring of its affairs by
providing advice in strategic planning and the preparation of the
Debtor's plan of reorganization, disclosure statement and business
plan, and participating in the Debtor's negotiations with
creditors.  In this regard, the Debtor seeks Bankruptcy Court
authority to employ CPA Luis R. Carrasquillo & Co., P.S.C.

The Debtor has paid Carrasquillo a US$20,000 retainer.  The firm's
partner, CPA Luis R. Carrasquillo, charges US$160 an hour for his
work.  Senior CPA Marcelo Gutierrez charges US$125 an hour.  Other
CPAs bill US$90 to US$125 an hour.

Carrasquillo has acted as financial consultant in other bankruptcy
cases in which Charles A. Cuprill, Esq., the Debtor's counsel, has
or is representing debtors.  V. Suarez & Co., a Pichi's creditor,
is a shareholder of Procesadora Campofresca, Inc., a client of
Carrasquillo.  Notwithstanding, Carrasquillo is a disinterested
person as defined in Sec. 101(14) of the Bankruptcy Code.

                        About Pichi's Inc.

Pichi's Inc. owns and operates the Best Western Pichi's Hotel in
Guayanilla, Puerto Rico.  Pichi's filed for Chapter 11 bankruptcy
(Bankr. D. P.R. Case No. 11-06583) on Aug. 3, 2011.  Judge Mildred
Caban Flores presides over the case.  Charles Alfred Cuprill, PSC
Law Offices, serves as the Debtor's bankruptcy counsel.

The financial consultants may be reached at:

          CPA LUIS R. CARRASQUILLO & CO., P.S.C.
          28th Street, # TI-26
          Caguas PR, 00725
          Tel: 787-746-4555
          Fax: 787-746-4564
          E-mail: luis@cpacarrasquillo.com

In its petition, the Debtor estimated US$10 million to US$50
million in both assets and debts.  The petition was signed by Luis
A. Emmanuelli Gonzalez, president.


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


CL FIN'L: Bondholders Give One Month Reprieve for Bond Payment
--------------------------------------------------------------
The Jamaica Gleaner reports that JCSD Trustee Services Limited
(JCSDTS) said local bondholders have given CL Financial Group
Limited another month to determine a payment schedule for a
US$240-million bond in default.  The report relates that the
decision followed a meeting between 50 bondholders and CL
Financial Head Alan Holder, representatives from Black Sand
Acquisition Inc. and the JSCDTS.

"The noteholders decided to extend the forbearance of enforcement
until (September)," Jamaica Gleaner quoted JSCD General Manager
Robin Levy.  "They will not take any action against CL Financial.
The extension is for another month at which time CL Financial
should present exactly how they are going to pay out," he added.

As reported in the Troubled Company Reporter-Latin America on
Aug. 11, 2011, Jamaica Gleaner said that the parties were expected
to finalize payment last month following the initial 2009 default
of the bond, used mainly to finance CL Financial's 2008
acquisition of Lascelles deMercado & Company.  The bond was issued
through CL Financial's subsidiary CL Spirits, according to Jamaica
Gleaner.  Another tranche was issued in Trinidad, bringing the
total to US$342 million, the report related.  Jamaica Gleaner
noted that JCSD is the trustee for the noteholders and the banks
that have lent money to CL Financial in this deal.  The report
relayed JCSD General Manager Robin Levy explained that the bond's
principal has been in default but its interest payments have
always been met by the CL Financial.  Jamaica Gleaner disclosed
that Mr. Levy said the CL Sprits bond should have matured Jan.
2010, but CL Financial bought time following a series of
negotiations with stakeholders.  CL Spirits was the vehicle
chiefly used by CL Financial to acquire Lascelles deMercado, as
well as raise debt to help finance the US$9.25-per share deal that
closed in July 2008, Jamaica Gleaner recalled.

                           About JCSDTS

Jamaica Gleaner reports that JCSD Trustee Services Limited
(JCSDTS) was incorporated in 2008 as a subsidiary of the Jamaica
Central Securities Depository, which is itself a subsidiary of the
Jamaica Stock Exchange.

                        About CL Financial

CL Financial Group Limited is a privately held conglomerate in
Trinidad and Tobago.  Founded as an insurance company by Cyril
Duprey, Colonial Life Insurance Company was expanded into a
diversified company by his nephew, Lawrence Duprey.  CL Financial
is now one of the largest local conglomerates in the region,
encompassing over 65 companies in 32 countries worldwide with
total assets standing at roughly US$100 billion.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 10, 2009, A.M. Best Co. downgraded the financial strength
rating to C (Weak) from B (Fair) and issuer credit rating to "ccc"
from "bb" of Colonial Life Insurance Company (Trinidad) Limited
(CLICO) (Trinidad & Tobago).  The ratings remain under review with
negative implications.  CLICO is an insurance member company of CL
Financial Limited (CL Financial), a diversified holding company
based in Trinidad & Tobago.

According to a TCR-LA report on Feb. 20, 2009, citing Trinidad and
Tobago Express, Tobago President George Maxwell Richards signed
bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.


CL FINANCIAL: St. Vincent Bank Faces Lawsuit Over CLICO Collapse
----------------------------------------------------------------
Jamaica Gleaner reports that St. Vincent and the Grenadines Prime
Minister Dr. Ralph Gonsalves said legal action will be taken
against a local commercial bank as the fallout continues from the
financial problems of CL Financial Group Limited.

Mr. Gonsalves told parliament that the bank, which he did not
name, is being sued in relation to the British American Insurance
Company Limited (BAICO).  BAICO and Colonial Life Insurance
Company (CLICO) are subsidiaries of CL Financial Group.

The report relates that Mr. Gonsalves said the suit is being
brought as members of a technical committee managing the assets of
the failed company also consider "certain kinds of legal action in
Trinidad and possibly elsewhere".

Jamaica Gleaner notes that BAICO has since been placed under
judicial management, and the possible legal action in Trinidad
relates to the regional elements of BAICO, but Mr. Gonsalves said
that there were issues specific to St Vincent and the Grenadines.

Jamaica Gleaner discloses that BAICO Judicial Manager Brian
Glasgow and BIACO Supervisor of Insurance Morris Edwards have
given instructions for the bank to be sued.

Mr. Gonsalves said Vincentian policyholders would benefit from any
monies recovered, the report notes.

The bank, Mr. Gonsalves explained, agreed in 1996 to act as
trustee of certain BAICO assets, Jamaica Gleaner notes.

The report relates Mr. Gonsalves said that as part of its duties,
the bank was to report to the register of insurers all assets it
held in trust for BAICO St Vincent; safely keep the BAICO assets
held, and monitor and update records on the release and renewal of
the assets.

Mr. Gonsalves told lawmakers that when the unraveling of BAICO's
parent company CLICO began in early 2009, the bank told the
Insurance Supervisor in Kingstown that BAICO assets, to be held in
trust, was EC$140,547,665.57 (US$38.7 million) for fulfillment of
BAICO statutory-fund obligations, the report relays.

Jamaica Gleaner discloses that Mr. Gonsalves said that legal
opinion suggests several possible causes of action, including
breach of statutory duty, breach of fiduciary duties,
misrepresentation, and negligence for negligent misstatements.

Mr. Gonsalves spoke of transactions in the United States in which
monies from BAICO were used to close deals worth hundreds of
millions of dollars, the report adds.

                         About CL Financial

CL Financial Group Limited is a privately held conglomerate in
Trinidad and Tobago.  Founded as an insurance company by Cyril
Duprey, Colonial Life Insurance Company was expanded into a
diversified company by his nephew, Lawrence Duprey.  CL Financial
is now one of the largest local conglomerates in the region,
encompassing over 65 companies in 32 countries worldwide with
total assets standing at roughly US$100 billion.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 10, 2009, A.M. Best Co. downgraded the financial strength
rating to C (Weak) from B (Fair) and issuer credit rating to "ccc"
from "bb" of Colonial Life Insurance Company (Trinidad) Limited
(CLICO) (Trinidad & Tobago).  The ratings remain under review with
negative implications.  CLICO is an insurance member company of CL
Financial Limited (CL Financial), a diversified holding company
based in Trinidad & Tobago.

According to a TCR-LA report on Feb. 20, 2009, citing Trinidad and
Tobago Express, Tobago President George Maxwell Richards signed
bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.


=========================
T U R K S  &  C A I C O S
=========================


OLINT CORP: Investors Won't Get Their Money Back, ACOM Says
-----------------------------------------------------------
The Association of Concerned Olint Members (ACOM) said the
sentence given to Olint Corporation Limited former boss David
Smith is the final blow to any hopes of co-operation from
Mr. Smith in the recovery of the member's money.  Three years ago,
after his initial arrest, Mr. Smith made a public commitment to
Olint members to return 100% of their money within nine months.
However, Mr. Smith never made any effort to actively work on
repaying them.

ACOM's major concern remains on the amount of money that members
can still recover.  ACOM said it knows that this is not the
primary concern of the U.S. government, and it does not appear
that the U.S. Attorney for the Middle District of Florida is under
any obligation to allow the association to independently verify
the actual amount of money that Mr. Smith has recovered for the
association's members.

ACOM said its understanding of the published Plea Bargain is that
Mr. Smith was providing the U.S. government with valuable
information that would lead to the recovery of substantial amounts
of the association's money.  To date, the association has had no
word from the District Attorney on the additional money, if any,
that has been recovered as a result of Mr. Smith's cooperation.

ACOM said it will continue to monitor the process through so that
Olint members will be compensated.  ACOM noted that the U.S.
Attorney's Office has imposed excessively stringent and onerous
requirements on members who wish to qualify for consideration.

Thousands of Olint members have been turned off by these imposed
requirements.  Those that have complied are now waiting for news
on the disposition of the funds allegedly recovered by the U.S
authorities.

ACOM said it is also asking the Jamaican government to aid the
victimized citizens of Jamaica who are now at the mercy of the
United States District Attorney.

As reported in the Troubled Company Reporter-Latin America on
Aug. 15, 2011, Caribbean360.com reports that Mr. Smith was
sentenced to 30 years in a U.S. federal jail for defrauding
thousands of investors through a Ponzi scheme.  Before serving the
sentence Mr. Smith will be returned to the Turks and Caicos
Islands to serve a six-and-a-half-year sentence that was imposed
in September 2010 after he pleaded guilty to fraud and conspiracy
charges, stemming from the same Olint scheme, according to
Caribbean360.com.  The report related that American authorities
will seek his extradition after he completes the jail time in the
Caribbean island.  Caribbean360.com noted that U.S. District Judge
Mary Scriven has ordered that Mr. Smith's federal sentence run
concurrently with his sentence in the TCI, which means he will
spend just under 24 years in the U.S. jail.

                         About Olint Corp

Olint Corporation Limited was an investment club owned by David
Smith.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
Aug. 31, 2010, RadioJamaica said United States authorities sought
to extradite Mr. Smith from Turks and Caicos Islands for his
involvement in financial fraud cases.  The Jamaica Gleaner said
that Mr. Smith was indicted on 23 charges in the United States.
The report related that the indictment handed down in the U.S.
District Court for the Middle District of Florida, Orlando
Division, charged Mr. Smith with four counts of wire fraud, one
count of conspiracy to commit money laundering and 18 counts of
money laundering to conceal specified unlawful activity.
Caribbean News Now related that Mr. Smith defrauded more than
US$200 million from thousands of investors in Jamaica, the Turks
and Caicos Islands and Florida.


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


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

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, 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 * * *