TCRLA_Public/110916.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, September 16, 2011, Vol. 12, No. 184

                            Headlines



A R G E N T I N A

TOYOTA COMPANIA: Moody's Rates ARS75-Mil. Bond Issuance at 'Ba1'


B E R M U D A

GLOBAL CROSSING: UK Unit Incurs GBP5.27-Mil. Second Quarter Loss


B R A Z I L

GOL LINHAS: S&P Affirms Global Scale Corp. Credit Rating at 'BB-'


C A Y M A N   I S L A N D S

AIS FUNDING II: Commences Liquidation Proceedings
BP OFFSHORE X1: Creditors' Proofs of Debt Due September 30
BP OFFSHORE X2: Creditors' Proofs of Debt Due September 30
BURLINGTON PARTNERS: Creditors' Proofs of Debt Due September 30
DULOXETINE ROYALTY: Creditors' Proofs of Debt Due Sept. 28

LIM ASIA: Creditors' Proofs of Debt Due Sept. 28
MAGURO LTD: Commences Liquidation Proceedings
MARINVEST ONE: Creditors' Proofs of Debt Due Sept. 29
MARINVEST ONE: Creditors' Proofs of Debt Due Sept. 29
MOTOR FINANCE: Creditors' Proofs of Debt Due September 28

OHA SENIOR: Creditors' Proofs of Debt Due Sept. 28
PALLON HOLDINGS: Creditors' Proofs of Debt Due September 19
PARK LANE: Creditors' Proofs of Debt Due September 28
STILWELL OFFSHORE: Creditors' Proofs of Debt Due September 28
SVANG INVESTMENTS: Creditors' Proofs of Debt Due September 19

TESSERA CHINA: Creditors' Proofs of Debt Due September 28
TOEN INVESTMENT: Creditors' Proofs of Debt Due September 19
TREESDALE ENHANCED: Creditors' Proofs of Debt Due September 19
UNIVERSA BLACK: Creditors' Proofs of Debt Due September 30
WESTERN HOLDINGS: Creditors' Proofs of Debt Due September 19


C O S T A   R I C A

CAJA COSTARRICENSE: Fires Six Top Level Managers


M E X I C O

DOCUFORMAS SAPI: S&P Affirms 'B+' Global Scale Rating


P U E R T O   R I C O

AES PUERTO RICO: Fitch Cuts Rating on Revenue Bonds to 'BB+'
AUTOS VEGA: Euroclass Motors Taps Charles Cuprill as Counsel
AUTOS VEGA: Court OKs Settlement with Reliable Finance
COSTA DORADA: Has Until Sept. 30 to File Plan and Disclosures
NC AUTO: Case Summary & 14 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

CL FIN'L: Black Sand Extends Bid for Lascelles de Mercado
* TRINIDAD & TOBAGO: Government Extends State of Emergency Curfew


V I R G I N   I S L A N D S

FARENCO SHIPPING: Seeks Recognition of B.V.I. Liquidation


                            - - - - -


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A R G E N T I N A
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TOYOTA COMPANIA: Moody's Rates ARS75-Mil. Bond Issuance at 'Ba1'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba1 global local currency
senior debt rating to Toyota Compania Financiera Argentina's
fourth bond issuance for an amount up to ARS75 million, which
will be due in 21 months.

At the same time, on the National Scale, Moody's Latin America
assigned Aaa.ar local currency debt rating to the issuance.

Ratings Rationale

The outlook on all ratings is stable.

Toyota Compania Financiera Argentina is headquartered in Buenos
Aires, Argentina, with assets of ARS513.8 million and an equity
of ARS70.4 million as of June 2011.

The following ratings were assigned to Toyota Compania Financiera
Argentina's ARS75 million issuance:

Global Local-Currency Debt Rating: Ba1

National Scale Local-Currency Debt Rating: Aaa.ar


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B E R M U D A
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GLOBAL CROSSING: UK Unit Incurs GBP5.27-Mil. Second Quarter Loss
----------------------------------------------------------------
Global Crossing Limited released second-quarter results for its
subsidiary, Global Crossing (UK) Telecommunications Limited.  The
Company reported a net loss of GBP5.27 million on GBP72.18
million of revenue for the three months ended June 30, 2011,
compared with a net loss of GBP3.42 million on GBP77.99 million
of revenue for the same period during the prior year.

The Company's balance sheet at June 30, 2011, showed
GBP264.03 million in total assets, GBP490.64 million in total
liabilities, and a GBP226.61 million total deficit.

"We continue to invest in advanced IP-based networking solutions
and highly skilled sales resources to expand and diversify our
enterprise customer base in the UK," said John Legere, chief
executive officer of Global Crossing.  "Meanwhile, we are
successfully positioning for broader opportunities with UK
government customers.  In fact, GCUK was recently approved as a
supplier for UK Government's Managed Telecommunications
Convergence Framework, which broadens our addressable market
opportunity to an additional 6 million government users.  We also
received full Public Service Network certification from the UK
Cabinet Office for delivery of its Government Conveyance Network
and PSN Internet Protocol Virtual Private Network services to the
Public Sector."

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

                        http://is.gd/x2gxSf

                       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.

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.

                          *     *     *

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.


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


GOL LINHAS: S&P Affirms Global Scale Corp. Credit Rating at 'BB-'
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on Brazil-
based airline Gol Linhas Aereas Inteligentes S.A. (GOL) to
negative from stable.  "At the same time, we affirmed our 'BB-'
global scale corporate credit rating and 'brA' Brazil national
scale rating," S&P related.

"The outlook revision reflects the company's weak results in the
second quarter, which will likely lower its credit metrics more
than we expected in our recent rating affirmation (see 'Gol
Linhas Aereas Inteligentes 'BB-' Corporate Rating Affirmed, Based
On Efficient Cost Structure, Good Market Position,' published
July 22, 2011).  Given strong demand fundamentals, the company's
efficient cost structure and prudent financial policy, and its
rational pricing, we believe GOL can limit such deterioration in
2012," S&P stated.


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


AIS FUNDING II: Commences Liquidation Proceedings
-------------------------------------------------
On July 14, 2011, the sole shareholder of AIS Funding II Ltd
resolved to voluntarily liquidate the company's business.

The company's liquidator is:

         Mourant Ozannes Cayman Liquidators Limited
         Reference: Marco Archer
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647 or

         Mourant Ozannes Cayman Liquidators Limited
         Reference: Peter Goulden
         Telephone: (+1) 345 949 4123
         Facsimile: (+1) 345 949 4647
         Harbour Centre
         42 North Church Street
         P.O. Box 1348, George Town
         Grand Cayman KY1-1108
         Cayman Islands


BP OFFSHORE X1: Creditors' Proofs of Debt Due September 30
----------------------------------------------------------
The creditors of BP Offshore X1 Ltd are required to file their
proofs of debt by September 30, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 8, 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


BP OFFSHORE X2: Creditors' Proofs of Debt Due September 30
----------------------------------------------------------
The creditors of BP Offshore X2 Ltd are required to file their
proofs of debt by September 30, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 8, 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


BURLINGTON PARTNERS: Creditors' Proofs of Debt Due September 30
---------------------------------------------------------------
The creditors of Burlington Partners Offshore Fund Ltd are
required to file their proofs of debt by September 30, 2011, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on August 12, 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


DULOXETINE ROYALTY: Creditors' Proofs of Debt Due Sept. 28
----------------------------------------------------------
The creditors of Duloxetine Royalty Sub are required to file
their proofs of debt by September 28, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 5, 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


LIM ASIA: Creditors' Proofs of Debt Due Sept. 28
------------------------------------------------
The creditors of Lim Asia Commodities Fund are required to file
their proofs of debt by September 28, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 5, 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


MAGURO LTD: Commences Liquidation Proceedings
---------------------------------------------
On July 27, 2011, the members of Maguro Ltd. resolved to
voluntarily liquidate the company's business.

Creditors are required to file their proofs of debt to be
included in the company's dividend distribution.

The company's liquidator is:

         Juan Pablo Gomez
         c/o Maples and Calder, Attorneys-at-law
         P.O. Box 309, Ugland House
         Grand Cayman KY1-1104
         Cayman Islands


MARINVEST ONE: Creditors' Proofs of Debt Due Sept. 29
-----------------------------------------------------
The creditors of Marinvest One Fund are required to file their
proofs of debt by September 29, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 8, 2011.

The company's liquidator is:

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


MARINVEST ONE: Creditors' Proofs of Debt Due Sept. 29
-----------------------------------------------------
The creditors of Marinvest One Master Fund are required to file
their proofs of debt by September 29, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 8, 2011.

The company's liquidator is:

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


MOTOR FINANCE: Creditors' Proofs of Debt Due September 28
---------------------------------------------------------
The creditors of Motor Finance Corp. are required to file their
proofs of debt by September 28, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 10, 2011.

The company's liquidator is:

         Helmut Kohler
         Telephone: 011-56-2-219-6128
         Av. Luis Pasteur 5842, Ofic. 301
         Vitacura
         Santiago, Chile


OHA SENIOR: Creditors' Proofs of Debt Due Sept. 28
--------------------------------------------------
The creditors of Oha Senior Loan Fund (Offshore), Ltd. are
required to file their proofs of debt by September 28, 2011, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on August 19, 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


PALLON HOLDINGS: Creditors' Proofs of Debt Due September 19
-----------------------------------------------------------
The creditors of Pallon Holdings Ltd. are required to file their
proofs of debt by September 19, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 15, 2011.

The company's liquidator is:

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


PARK LANE: Creditors' Proofs of Debt Due September 28
-----------------------------------------------------
The creditors of Park Lane Aviation Holdings Limited are required
to file their proofs of debt by September 28, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on August 10, 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


STILWELL OFFSHORE: Creditors' Proofs of Debt Due September 28
-------------------------------------------------------------
The creditors of Stilwell Offshore Fund Ltd. are required to file
their proofs of debt by September 28, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 9, 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


SVANG INVESTMENTS: Creditors' Proofs of Debt Due September 19
-------------------------------------------------------------
The creditors of Svang Investments Ltd. are required to file
their proofs of debt by September 19, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 11, 2011.

The company's liquidator is:

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


TESSERA CHINA: Creditors' Proofs of Debt Due September 28
---------------------------------------------------------
The creditors of Tessera China Holdings are required to file
their proofs of debt by September 28, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 12, 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


TOEN INVESTMENT: Creditors' Proofs of Debt Due September 19
-----------------------------------------------------------
The creditors of Toen Investment Company are required to file
their proofs of debt by September 19, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 12, 2011.

The company's liquidator is:

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


TREESDALE ENHANCED: Creditors' Proofs of Debt Due September 19
--------------------------------------------------------------
The creditors of Treesdale Enhanced Fixed Income, Ltd. are
required to file their proofs of debt by September 19, 2011, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on August 11, 2011.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877
         89 Nexus Way Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


UNIVERSA BLACK: Creditors' Proofs of Debt Due September 30
----------------------------------------------------------
The creditors of Universa Black Swan Protection Protocol Offshore
II Ltd are required to file their proofs of debt by September 30,
2011, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on August 11, 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


WESTERN HOLDINGS: Creditors' Proofs of Debt Due September 19
------------------------------------------------------------
The creditors of Western Holdings Ltd. are required to file their
proofs of debt by September 19, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on August 15, 2011.

The company's liquidator is:

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


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C O S T A   R I C A
===================


CAJA COSTARRICENSE: Fires Six Top Level Managers
------------------------------------------------
Inside Costa Rica reports that Caja Costarricense de Seguro
Social (CCSS)'s board of directors has requested the resignation
of the six top level managers of the institution.

The Board called for the resignation of the Chief of Logistics,
Ubaldo Carrillo; Manager of Infrastructure and Technology,
Gabriela Murillo; Medical Manager, Rosa Climent; Administrative
Manager, Jose Alberto Acuna; and the Financial Manager, Manuel
Ugarte, according to Inside Costa Rica.

Pensions Manager Miguel Pacheco has been suspended for two months
with pay for irregularities the institution detected in some of
their administrative decisions, according to Inside Costa Rica,
but once his suspension is lifted, immediate resignation will be
demanded.

The resignations will become effective within one month, when the
Board will decide whether the resignations remain in effect or
not for one or more of the cases which after analyzing the
situation, may be asked to continue in office, the report notes.

Inside Costa Rica says that for those cases in which the
resignation does become effective, the official concerned will
return to their last position within the institution, as most of
the current managers have been promoted within the structure of
the institution.

The five managers were notified personally and showed
understanding the decision of the board, Inside Costa Rica
discloses.


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


DOCUFORMAS SAPI: S&P Affirms 'B+' Global Scale Rating
-----------------------------------------------------
Standard & Poor's Ratings Services affirmed its ratings,
including the 'B+' global scale and 'mxBBB/mxA-3' Mexican
national scale ratings, on Mexico-based lease financing firm
Docuformas S.A.P.I. de C.V. The outlooks remained stable.

"The ratings on Docuformas continue to reflect its improving
asset  quality and are supported by adequate earnings and
adjusted capitalization," said Standard & Poor's credit analyst
Ingrid Ortiz Machain.  "Counterbalancing these positives are its
high asset portfolio concentration and modest risk management
policies."

Although Docuformas has improved its loan portfolio, its loans
are still highly concentrated by client.  Consequently, the
company remains exposed to asset quality deterioration in the
event that its clients' performance suffers again from a Mexican
economic slowdown.

"We expect that the company will continue its diversification
strategy, either through growth into leasing sectors outside its
core business of providing printing equipment, or through
acquisitions," Ms. Ortiz Machain added.


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


AES PUERTO RICO: Fitch Cuts Rating on Revenue Bonds to 'BB+'
------------------------------------------------------------
Fitch Ratings has downgraded AES Puerto Rico L.P.'s (AES-PR)
US$161.87 million tax-exempt senior cogeneration facility revenue
bonds due 2026 and US$33.1 million taxable senior cogeneration
facility revenue bonds due 2022 to 'BB+' from 'BBB-'.  The Rating
Outlook remains Negative.

The downgrade reflects continuing volatility in availability
leading to reduced capacity payments, and costs significantly
exceeding original forecasts at levels expected to persist.  The
Negative Outlook reflects operational issues, which could reduce
cash flows to a level consistent with a lower rating.

Key Rating drivers:

-- Revenue Stability: The 25-year tolling-style power purchase
    agreement (PPA) with an investment-grade counterparty, Puerto
    Rico Electric Authority (PREPA; rated 'BBB+', with a Stable
    Outlook by Fitch), effectively mitigates energy and coal
    price risk through the debt term.  However, failure to
    maintain PPA availability thresholds has reduced fixed
    capacity payments.

-- Operating Cost Profile: The project's operating costs have
    been and are expected to continue rising due to additional
    costs associated with corrective and preventative maintenance
    and repairs, as well as increased coal prices beginning in
    2013.  Fitch notes that the project's heat rate has
    consistently exceeded the PPA contracted heat rate.

-- Additional Forced Outages: AES-PR has been susceptible to
    forced outages that have reduced availability.  Management
    has taken a proactive approach to limiting future forced
    outages by making corrective repairs when necessary and
    establishing ongoing monitoring and testing.  However,
    outages have persisted and it remains unclear whether
    completed and scheduled repairs will be sufficient to achieve
    targeted availability levels.

-- Ash Management: AES-PR continues to actively manage its ash
    inventory via the sale of its AGREMAX product and raw ash for
    the construction of rural roads, landfill covers, and waste
    water stabilization. Currently, all sales are on a project-
    by-project basis, but management indicated that there has
    been interest for a long-term solution.  Fitch believes that
    AES-PR's efforts have helped to offset near-term concerns,
    but cash flow uncertainty is increased without a permanent
    solution to ash management.

Credit Summary:

Management has been proactive in making repairs and scheduling
regular inspections/tests to reduce the number and financial
impact of future forced outages, but outages may persist going
forward leading to lower capacity revenues.  Increased operating
costs include higher coal pricing for a supply contract in 2013
with initial estimates approximately 25% higher than current
prices.

Although fuel costs are recovered under the PPA, the project's
heat rate is above the contracted heat rate and the potential
financial impact is a credit concern.  Fitch notes that major
turbine overhauls in 2012 and 2013 are expected to improve
efficiency and reduce heat rates, which should have a favorable
impact on cash flows.  The project should demonstrate
availability factor stability, as well as operational and
financial benefits from the additional preventative costs being
incurred by the project, in order to resolve the Rating Outlook.

Fitch believes that AES-PR's higher operating cost profile and
lower availability have significantly reduced financial
flexibility at the project.  Rating Case DSCRs based on stressed
levels of availability, costs, heat rates, and interest rates
suggest coverage could fall below 1.4 times (x), consistent with
the assigned rating category, and may fall below 1.2x following
contractually reduced capacity payments as the bonds near
maturity.  Fitch notes that the back-loaded debt service profile
of the senior bonds increases bondholders' exposure to longer
term operational challenges.

AES-PR is a special purpose entity that is an indirect wholly
owned facility of AES Corporation (rated 'B+', Stable Outlook).
The project was formed in 1994 to own and operate a net 454.3
megawatt coal-fired circulating fluidized bed combustion power
plant in Guayama, Puerto Rico.  The project's main revenue
sources are capacity and energy sales to PREPA under the terms of
a 25-year PPA, which is a modified tolling agreement that
reimburses fuel, subject to heat rate requirements, and certain
operating costs.


AUTOS VEGA: Euroclass Motors Taps Charles Cuprill as Counsel
------------------------------------------------------------
Euroclass Motors Inc., a debtor-affiliate of Autos Vega, seeks
permission from the U.S. Bankruptcy Court for the District of
Puerto Rico to employ Charles A. Cuprill, P.S.C. Law Offices as
substitute counsel.  The firm will substitute McConnell Valdes,
LLC.

The Debtor has retained Cuprill as its counsel on the basis of a
US$15,000 retainer advanced by the Debtor's affiliate, San Juan
Motors, Co., Inc.  The hourly rates of the firm's personnel are:

         Charles A. Cuprill-Hernandez, Esq.     US$350
         Associates                               $225
         Junior Associates                        $200
         Paralegals                                $75

Mr. Cuprill-Hernandez, a principal of the firm, assures the Court
that his firm is a "disinterested person" as that term is defined
under Section 101(14) of the Bankruptcy Code.

In a separate filing, Myrna L. Ruiz-Olmo -- mruizolmo@cuprill.com
-- notified the Court that she has withdrawn as counsel of record
to the Debtor.  Ms. Ruiz-Olmo added that Mr. Cuprill-Hernandez
will continue representing the Debtor in the Chapter 11 case
matter.

Ms. Ruiz-Olmo also requests that her name be removed from all
filings and notices in the Debtor's case.

                         About Autos Vega

Autos Vega, Inc., is a car dealership engaged in the sales of new
and used cars and trucks car parts, accessories and providing
vehicle repair and maintenance, based in San Juan, Puerto Rico.
The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
P.R. Case No. 11-05773) on July 6, 2011.  The case has been
assigned to Judge Sara E. DeJesus Kellogg.  The Debtor estimated
its assets and debts at US$10 million to US$50 million.

Antonio A. Arias-Larcada, Esq., and Yarilyn C. Perez-Colon, Esq.,
at McConnell Valdes LLC, in San Juan, Puerto Rico, serve as
counsel to the Debtor.  Luis R. Carrasquillo Ruiz, CPA, is the
Debtor's accountant.


AUTOS VEGA: Court OKs Settlement with Reliable Finance
----------------------------------------------------------------
The Hon. Mildred Caban Flores of the U.S. Bankruptcy Court for
the District of Puerto Rico approved the settlement stipulation
filed by Euroclass Motors Inc., a debtor-affiliate of Autos Vega,
and Reliable Finance Holding Company.

Autos Vega, Inc., is a car dealership engaged in the sales of new
and used cars and trucks car parts, accessories and providing
vehicle repair and maintenance, based in San Juan, Puerto Rico.
The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
P.R. Case No. 11-05773) on July 6, 2011.  The case has been
assigned to Judge Sara E. DeJesus Kellogg.  The Debtor estimated
its assets and debts at US$10 million to US$50 million.

Antonio A. Arias-Larcada, Esq., and Yarilyn C. Perez-Colon, Esq.,
at McConnell Valdes LLC, in San Juan, Puerto Rico, serve as
counsel to the Debtor.  Luis R. Carrasquillo Ruiz, CPA, is the
Debtor's accountant.


COSTA DORADA: Has Until Sept. 30 to File Plan and Disclosures
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico granted
Costa Dorada Apartments Corp. an extension of 30 days, or until
Sept. 30, 2011, to file a disclosure statement and plan or
reorganization.

On July 11, 2011, the Debtor filed a Motion in Compliance with
the Status Report Order establishing that it would be filing the
Disclosure Statement and Plan of Reorganization on Aug. 31, 2011.
In its motion, the Debtor related that it was still working on
the compilation of relevant financial information, specifically,
new projections of the operations of the business, which needs to
be included in the disclosure statement and plan of
reorganization to be filed.

Costa Dorada Apartments Corp., dba Villas De Costa Dorada, in
Isabela, Puerto Rico, filed for Chapter 11 bankruptcy (Bankr. D.
P.R. Case No. 11-03960) on May 10, 2011.  The Debtor disclosed
US$10.7 million in assets and US$8.6 million in liabilities as of
the Chapter 11 filing.  The petition was signed by Carlos R.
Fernandez Rodriguez, its president.

Wigberto Lugo Mender, Esq., at Lugo Mender & Co., in Guaynabo,
Puerto Rico, represents the Debtor as counsel.


NC AUTO: Case Summary & 14 Largest Unsecured Creditors
------------------------------------------------------
Debtor: NC Auto & Truck Rentals Inc.
        dba Payless Car Rental
        P.O. Box 39
        Mercedita, PR 00715

Bankruptcy Case No.: 11-07717

Chapter 11 Petition Date: September 9, 2011

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Modesto Bigas Mendez, Esq.
                  BIGAS & BIGAS
                  P.O. Box 7462
                  Ponce, PR 00732
                  Tel: (787) 844-1444
                  E-mail: modesto@coqui.net

Estimated Assets: US$0 to US$50,000

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

A list of the Company's 14 largest unsecured creditors filed
together with the petition is available for free at:

            http://bankrupt.com/misc/prb11-07717.pdf

The petition was signed by Nilda L. Cancel Garcia, president.


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


CL FIN'L: Black Sand Extends Bid for Lascelles de Mercado
---------------------------------------------------------
Jamaica Observer reports that Black Sand Acquisition Inc.
extended by three weeks its bid to acquire not less than 90% of
Lascelles de Mercado from troubled CL Financial.

In a supplement to its cash offer initiated on Aug. 4, 2011,
Black Sand said, "The offer is hereby extended to 4:30 p.m. on
Oct. 18, 2011.  Accordingly all references to Sept. 26, 2011 as
being the expiry date in the Takeover Bid Circular will be
amended to read October 18, 2011," Jamaica Observer cites.

At the same time, Jamaica Observer points out, the buyer
consortium sought to retract a statement it made in the original
offer, which stated that a holding of similar size to Lascelles
shares in Carreras had been posted as available for sale on the
Jamaica Stock Exchange.  "(Lascelles) denies that it has posted
and/or listed the shares for sale on the Jamaica Stock Exchange
(JSE) and the JSE has confirmed that it has no listing of the
shares for sale. . . .  accordingly, the previous statement,
which suggested that the Carreras shares held by the Company were
posted for sale on the Jamaica Stock Exchange (JSE), is
inaccurate and the shares are not in fact being offered for
sale," the supplement stated, according to Jamaica Observer.

As reported in the Troubled Company Reporter-Latin America on
Aug. 2, 2011, Trinidad Express related that Black Sand plans to
acquire 90% of Lascelles de Mercardo's ordinary shares, all its
6% preference shares, and its 15% preference shares.  Lascelles
de Mercardo's shares are traded on the Jamaican Stock Exchange.
In a statement from Jamaica-based Pan Caribbean Financial
Services Ltd, the principal broker of the bid, Black Sand said
Lascelles shareholders US$3.86 each for ordinary shares and
US$0.29 for its 6% preference shares and US$0.23 for its 15%
preference shares, according to Trinidad Express.  TCRLA noted
that RJR News said Lascelles de Mercardo former boss William
McConnell will lead Black Sand in the takeover.  RJR News related
that Black Sand said it's seeking to take over the company
because it believes the future of the company is in serious
jeopardy.  CL Spirits defaulted on US$342 million of notes issued
in Trinidad and Tobago and Jamaica that are secured by a pledge
of CL Financial's shares in Lascelles de Mercardo, Black Sand
said in a statement obtained by Trinidad Express.

                        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.


* TRINIDAD & TOBAGO: Government Extends State of Emergency Curfew
-----------------------------------------------------------------
Caribbean360.com reports that Trinidad and Tobago Prime Minister
Kamla Persad-Bissessar said that 11 new areas as well as the
maritime boundary are to be included in the 11:00 p.m. to 4:00
a.m. curfew, effective on Sept. 15, 2011.

The 11 new areas are Carli Bay; Maloney; Moruga; Cedros; Claxton
Bay; Toco; Dow Village; California; La Horquetta; Windy Hill,
Arouca; McBean, Couva and Chase Village, Carapichaima, according
to Caribbean360.com.

Prime Minister Persad-Bissessar said that also to be subjected to
the curfew will be "those areas on land around the 362 kilometres
of Trinidad and Tobago coastline and that will extend outward,
outland three nautical miles," Carribbean360.com relays.

As reported in the Troubled Company Reporter-Latin America on
Sept. 6, 2011, RJR News said that businesses in Trinidad and
Tobago said that they have lost between 30% and 75% of revenues
due to the State of Emergency that was imposed in the last two
weeks.  Businesses from restaurants to the hospitality sector and
even banks said they are affected, according to RJR News.  RJR
News related that Trinidad and Tobago Member of Parliament
Colm Imbert said research he has done showed the reduction in
working hours have affected not only business revenues, but also
incomes of hourly paid workers.  The report relayed Mr. Imbert
said that people are afraid to speak out about the effect because
they could be locked up for dissatisfaction under the Emergency
Powers Act.  Mr. Imbert noted that business people said they
cannot sustain a three-month State of Emergency, and each will be
hit hard, the report added.  Trinidad Express said that Trinidad
& Tobago businesses braced for financial losses starting as they
were forced to curtail operations because of the limited state of
emergency in the country.  Caribbean360.com related that Trinidad
& Tobago Prime Minister Kamla Persad-Bissessar disclosed a
limited state of emergency and curfew in "hotspots" in the
country to deal with escalating crime.


===========================
V I R G I N   I S L A N D S
===========================


FARENCO SHIPPING: Seeks Recognition of B.V.I. Liquidation
---------------------------------------------------------
Bill Rochelle, the columnist for Bloomberg News, reports that
Farenco Shipping Co. LLC, a time-charter operator in liquidation
in the British Virgin Islands, filed a petition in New York for
protection in the U.S. under Chapter 15.

The liquidator, who was appointed at the end of May, explained in
a court filing how the company's financial problems were the
result of the "dramatic collapse" of the bulk cargo market in
2008. The company was a time-charter operator hauling bulk cargo
such as iron, coal, and steel.

Although there are no assets or lawsuits in the U.S., the
liquidator intends on using Chapter 15 to garner information
about the company's financial transactions from banks operating
in the U.S.  The liquidator also intends to use Chapter 15 to
gain possession of books and records of the company's affairs in
the hands of affiliates in Hong Kong and Singapore.

The liquidator believes the U.S. court has power to require the
turnover of company records because the foreign affiliates were
registered to do business in New York.

The assets, according to the liquidator, consist of US$346,000 in
cash plus potential lawsuits.

Farenco Shipping Co. Ltd., filed a Chapter 15 petition (Bankr.
S.D.N.Y. Case No. 11-14138) on Aug. 31, 2011.  James H. Power,
Esq., at Holland & Knight, LLP, represents the Debtor's foreign
representative in the Chapter 15 case.  The Debtor is estimated
to have up to $1 million in assets and US$10 million to US$50
million in liabilities.


                            ***********


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.


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