TCRLA_Public/111006.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, October 6, 2011, Vol. 12, No. 198


                            Headlines

A N G U I L L A

BARNES BAY: Viceroy Resort Creditors May Sue, Appoint Liquidator


A R G E N T I N A

BANCO SANTANDER: Moody's Assigns 'Ba1' Local Currency Debt Rating


B A R B A D O S

FOUR SEASON: IDB Provides US$65 Million Loan for Stalled Project


B E R M U D A

HORIZON INSURANCE: Creditors' Proofs of Debt Due Nov. 30
PANGAEA REINSURANCE I: Creditors' Proofs of Debt Due Oct. 12
PANGAEA REINSURANCE I: Members' Final Meeting Set for Nov. 2
TOTAL OIL: Creditors' Proofs of Debt Due Oct. 12
TOTAL OIL: Members' Final Meeting Set for Nov. 2

VIVALDI LTD: Creditors' Proofs of Debt Due Oct. 12
VIVALDI LTD: Members' Final Meeting Set for Nov. 2
Y-MUTUAL INSURANCE: Creditors' Proofs of Debt Due Oct. 12
Y-MUTUAL INSURANCE: Members' Final Meeting Set for Nov. 9


C A Y M A N   I S L A N D S

APHEX CAPITAL, 2006: Shareholders' Final Meeting Set for Oct. 14
APHEX CAPITAL: Shareholders' Final Meeting Set for Oct. 14
AUDA OPPORTUNITY: Shareholder to Hear Wind-Up Report on Oct. 13
BIOHEDGE CAPITAL: Shareholders' Final Meeting Set for Oct. 14
CHEYNE MULTI-STRATEGY: Shareholders' Final Meeting Set Oct. 14

FF GLOBAL: Shareholders' Final Meeting Set for Oct. 12
FOOTBRIDGE CAPITAL: Shareholders' Final Meeting Set for Oct. 14
HBM BIOMED: Shareholders' Final Meeting Set for Oct. 14
ICARUS OFFSHORE: Creditors' Proofs of Debt Due Oct. 12
KF-I&G HOLDINGS: Members' Final Meeting Set for Oct. 13

OAK HILL: Shareholders' Final Meeting Set for Oct. 14
PANAMA STREET: Shareholders' Final Meeting Set for Oct. 14
RIGEL FUND: Creditors' Proofs of Debt Due Oct. 12
RIZERS INVESTMENTS: Shareholders' Final Meeting Set for Oct. 14
STELLATION CAPITAL: Shareholders' Final Meeting Set for Oct. 20


J A M A I C A

JAMMIN JAVA: Prospects Improving Despite Auditor's Going Concern


T R I N I D A D  &  T O B A G O

CL FINANCIAL: Denies Reneging on Payment Schedule


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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A N G U I L L A
===============


BARNES BAY: Viceroy Resort Creditors May Sue, Appoint Liquidator
----------------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that creditors of Viceroy Anguilla Resort & Residences on
Anguilla in the British West Indies can sue the resort's owner as
the result of an order the bankruptcy judge in Delaware signed
Oct. 3.  Creditors also can request that the court in Anguilla
appoint a liquidator or receiver under local law.

Mr. Rochelle relates that the action on Oct. 3 resulted from a
motion filed by an individual who made a deposit to buy a unit in
the then-unfinished resort.  Rather than dismiss the case
entirely, U.S. Bankruptcy Judge Peter J. Walsh in effect
terminated the automatic bankruptcy stay and is allowing
creditors to sue.  As a result, those who made deposits can use
the court in Anguilla to enforce whatever rights they have
against the property.  Purchasers ended up as unsecured creditors
in the bankruptcy case because their deposits weren't held in
escrow.  Previously, Judge Walsh allowed the secured creditor
Starwood Capital Group LLC to foreclose when he ruled that the
resort's proposed Chapter 11 plan improperly discriminated
between different categories of purchasers who made deposits.

                          About Barnes Bay

Beverly Hills, California-based Barnes Bay Development Ltd., owns
the Viceroy Anguilla Resort & Residences on the British West
Indies island of Anguilla.  Barnes Bay and two affiliates filed
for Chapter 11 bankruptcy protection (Bankr. D. Del. Lead Case
No. 11-10792) on March 17, 2011, to facilitate the sale of the
resort. Barnes Bay disclosed $3,331,282 in assets and
$481,840,435 in liabilities as of the Chapter 11 filing.

Akin Gump Straus Hauer & Feld LLP is the Debtors' bankruptcy
counsel, and Keithley Lake & Associates is the Debtors' special
Anguillan counsel.  Kurtzman Carson Consultants LLC is the
Debtors' claims, noticing, solicitation and balloting agent.

The U.S. Trustee appointed five members to the official committee
of unsecured creditors in the Debtors' cases.  Brown Rudnick LLP
serves as the Committee's co-counsel, and Womble Carlyle
Sandridge & Rice, PLLC, as its Delaware co-counsel.  C.R. Hodge &
Associates is the Committee's foreign counsel.  FTI Consulting,
Inc., serves as the Committee's financial advisors.

U.S. Bankruptcy Judge Peter J. Walsh in Delaware in September
said that he wouldn't approve the resort's reorganization plan
because it unfairly discriminated among creditors who put down
deposits to buy units.  Barnes Bay has not filed a revised plan.

Starwood Capital Group LLC was the winner of a July auction to
determine who would sponsor the reorganization plan.  It called
for Starwood to assume ownership on account of its US$370 million
secured claim.  When the plan failed, Starwood took ownership
through foreclosure.


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


BANCO SANTANDER: Moody's Assigns 'Ba1' Local Currency Debt Rating
-----------------------------------------------------------------
Moody's Latin America assigned an Aaa.ar national scale local
currency debt rating to Banco Santander Rio S.A.'s expected
second issuance under an already rated program, amounting up to
ARS200 million.

At the same time, Moody's Investors Service assigned a Ba1 global
local-currency debt rating to the expected second issuance.  The
outlook for all ratings is stable. The program is governed by
Argentine law.

These ratings were assigned to Banco Santander Rio S.A.:

Second Issuance of a maximum amount of AR200 million:

  Ba1 Global Local Currency Debt Rating, with stable outlook

  Aaa.ar Argentinean National Scale Local Currency Debt Rating

Ratings Rationale

Moody's noted that seniority was taken into consideration in the
assignment of the debt rating and that the debt rating is equal
to the senior global local currency deposit rating (i.e. Ba1 for
Santander Rio).

Banco Santander Rio S.A. is headquartered in Buenos Aires, and it
had assets of ARS41.1 billion and total loans of ARS23.3 billion,
as of June 2011.


===============
B A R B A D O S
===============


FOUR SEASON: IDB Provides US$65 Million Loan for Stalled Project
----------------------------------------------------------------
Tony Best at NationNews.com reports that unnamed sources said the
stalled Four Seasons hotel project in Barbados seems set to get a
new financial lease on life as Inter-American Development Bank in
Washington reached an agreement with the country for a
US$65 million loan to investors in the project.

"It's going to be the kind of loan that wouldn't require a
Barbados Government guarantee and therefore wouldn't appear on
the country's books as a foreign debt. . . . The bank, which is
yet to seek formal approval of its executive board to go ahead
with the loan, is committed to the deal because it feels the
project is worthwhile and it has fallen victim to the
international financial crisis," NationNews.com quoted a source
familiar with the plans.

As reported in the Troubled Company Reporter-Latin America on
July 26, 2010, Jamaica Observer said that a Four Seasons Hotel
project in Barbados has run into problems after the US$20 million
government guarantee that has kick-started the stalled project is
said to be not enough to complete the planned luxury facility.

                        About Four Seasons

Four Seasons Hotels -- http://www.fourseasons.com/-- manages
some 75 luxury hotels and resorts in more than 30 countries.
Most properties are operated under the Four Seasons name, but
some are Regent hotels.  It has ownership interests in only about
half of its properties, having shifted from a hotel owner to a
hotel operator in the 1990s.  In 2007, Four Seasons Hotels board
members took the company private.


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


HORIZON INSURANCE: Creditors' Proofs of Debt Due Nov. 30
--------------------------------------------------------
The creditors of Horizon Insurance Company Limited are required
to file their proofs of debt by Nov. 30, 2011, to be included in
the company's dividend distribution.

The company's liquidator is:

         Finance & Risk Services Ltd
         502 International Centre
         26 Bermudiana Road
         P.O. Box HM 321, Hamilton HM BX
         Bermuda
         Telephone: +441-292-5526


PANGAEA REINSURANCE I: Creditors' Proofs of Debt Due Oct. 12
------------------------------------------------------------
The creditors of Pangaea Reinsurance I, Ltd. are required to file
their proofs of debt by Oct. 12, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 22, 2011.

The company's liquidator is:

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


PANGAEA REINSURANCE I: Members' Final Meeting Set for Nov. 2
------------------------------------------------------------
The members of Pangaea Reinsurance I, Ltd., will hold their final
meeting on Nov. 2, 2011, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


TOTAL OIL: Creditors' Proofs of Debt Due Oct. 12
------------------------------------------------
The creditors of Total Oil and Gas Emirates Limited are required
to file their proofs of debt by Oct. 12, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on Sept. 22, 2011.

The company's liquidator is:

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


TOTAL OIL: Members' Final Meeting Set for Nov. 2
------------------------------------------------
The members of Total Oil and Gas Emirates Limited will hold their
final meeting on Nov. 2, 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:

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


VIVALDI LTD: Creditors' Proofs of Debt Due Oct. 12
--------------------------------------------------
The creditors of Vivaldi Ltd. are required to file their proofs
of debt by Oct. 12, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 27, 2011.

The company's liquidator is:

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


VIVALDI LTD: Members' Final Meeting Set for Nov. 2
--------------------------------------------------
The members of Vivaldi Ltd. will hold their final meeting on
Nov. 2, 2011, at 9:30 a.m., to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


Y-MUTUAL INSURANCE: Creditors' Proofs of Debt Due Oct. 12
---------------------------------------------------------
The creditors of Y-Mutual Insurance, Ltd. are required to file
their proofs of debt by Oct. 12, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 16, 2011.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


Y-MUTUAL INSURANCE: Members' Final Meeting Set for Nov. 9
---------------------------------------------------------
The members of Y-Mutual Insurance, Ltd., will hold their final
meeting on Nov. 9, 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:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


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


APHEX CAPITAL, 2006: Shareholders' Final Meeting Set for Oct. 14
----------------------------------------------------------------
The shareholders of Aphex Capital NSCR 2006-1, Ltd., will hold
their final meeting on Oct. 14, 2011, at 9:30 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         c/o Jennifer Chailler
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         Telephone: (345) 814 6847


APHEX CAPITAL: Shareholders' Final Meeting Set for Oct. 14
----------------------------------------------------------
The shareholders of Aphex Capital NSCR 2007-6, Ltd. will hold
their final meeting on Oct. 14, 2011, at 9:15 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         c/o Jennifer Chailler
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         Telephone: (345) 814 6847


AUDA OPPORTUNITY: Shareholder to Hear Wind-Up Report on Oct. 13
---------------------------------------------------------------
The shareholder of Auda Opportunity Ltd. will receive on Oct. 13,
2011, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877


BIOHEDGE CAPITAL: Shareholders' Final Meeting Set for Oct. 14
-------------------------------------------------------------
The shareholders of Biohedge Capital Limited will hold their
final meeting on Oct. 14, 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:

         Jonathan Nicholson
         P.O. Box 1976 Grand Cayman KY1-1104
         Cayman Islands


CHEYNE MULTI-STRATEGY: Shareholders' Final Meeting Set Oct. 14
--------------------------------------------------------------
The shareholders of Cheyne Multi-Strategy Leveraged General
Partner Inc. will hold their final meeting on Oct. 14, 2011, at
9:00 a.m., to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         c/o Jennifer Chailler
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         Telephone: (345) 814 6847


FF GLOBAL: Shareholders' Final Meeting Set for Oct. 12
------------------------------------------------------
The shareholders of FF Global Opportunities Limited will hold
their final meeting on Oct. 12, 2011, at 4:00 p.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FOOTBRIDGE CAPITAL: Shareholders' Final Meeting Set for Oct. 14
---------------------------------------------------------------
The shareholders of Footbridge Capital Fund Inc. will hold their
final meeting on Oct. 14, 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:

         Jonathan Nicholson
         P.O. Box 1976 Grand Cayman KY1-1104
         Cayman Islands


HBM BIOMED: Shareholders' Final Meeting Set for Oct. 14
-------------------------------------------------------
The shareholders of HBM Biomed China Partners Ltd. will hold
their final meeting on Oct. 14, 2011, at 11:10 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Jonathan Nicholson
         P.O. Box 1976 Grand Cayman KY1-1104
         Cayman Islands


ICARUS OFFSHORE: Creditors' Proofs of Debt Due Oct. 12
------------------------------------------------------
The creditors of Icarus Offshore are required to file their
proofs of debt by Oct. 12, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Aug. 30, 2011.

The company's liquidator is:

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


KF-I&G HOLDINGS: Members' Final Meeting Set for Oct. 13
-------------------------------------------------------
The members of KF-I&G Holdings, Ltd. will hold their final
meeting on Oct. 13, 2011, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

         Ghanem S. Al-Ghenaiman
         Imad Al-Naqib
         Investment Department
         Kuwait Fund for Arab Economic Development
         P.O. Box 2921 Safat 13030
         Kuwait


OAK HILL: Shareholders' Final Meeting Set for Oct. 14
-----------------------------------------------------
The shareholders of Oak Hill Credit Alpha Fund (Feeder SPV), Ltd.
will hold their final meeting on Oct. 14, 2011, at 8:30 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


PANAMA STREET: Shareholders' Final Meeting Set for Oct. 14
----------------------------------------------------------
The shareholders of Panama Street Finance, Ltd. will hold their
final meeting on Oct. 14, 2011, at 8:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


RIGEL FUND: Creditors' Proofs of Debt Due Oct. 12
-------------------------------------------------
The creditors of Rigel Fund are required to file their proofs of
debt by Oct. 12, 2011, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on Aug. 26, 2011.

The company's liquidator is:

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


RIZERS INVESTMENTS: Shareholders' Final Meeting Set for Oct. 14
---------------------------------------------------------------
The shareholders of Rizers Investments Ltd. will hold their final
meeting on Oct. 14, 2011, at 9:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers SPV Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         Jennifer Chailler
         Telephone: (345) 814 6847


STELLATION CAPITAL: Shareholders' Final Meeting Set for Oct. 20
---------------------------------------------------------------
The shareholders of Stellation Capital Fund Ltd. will hold their
final meeting on Oct. 20, 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
         c/o Jo-Anne Maher
         Fiduciary Services (Cayman) Limited
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877


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


JAMMIN JAVA: Prospects Improving Despite Auditor's Going Concern
----------------------------------------------------------------
Jamaica Gleaner reports that Jammin Java Corp is countering the
signal from its Wall Street auditor KBL, LLP about its viability
as a 'going concern', saying it recently signed a vending machine
deal worth US$2.5 million (JM$215 million) annually and has
nearly US$2 million (JM$172 million) in the bank.

The auditor's concern for the company chaired by Rohan Marley is
that its revenue intake at US$71,700 (JM$6.2 million) over six
months ending July are insufficient to cover its expenses to
date, unless financed externally, according to Jamaica Gleaner.

"The company has an accumulated deficit of US$1.2 million and
working capital of US$1.96 million at July 31, 2011.  In
connection with our January 31, 2011 audit, our auditor has
raised substantial doubt about the company's ability to continue
as a going concern," read the accompanying statements in the
financials sent to shareholders at the end of September, the
report notes.

Jamaica Gleaner notes that Jammin Java Chief Executive Officer
Brent Toevs, in response to queries, said the auditor was
conservative and cautious.  "Most auditors . . . . take a very
defensive position as to the viability of all start-up
businesses, which is why you see language like that.  The reality
is that we launched our business into the market around December
of 2010 and it's only this last quarter that we deemed ourselves
a non-development stage company . . . . Since our launch, though,
we feel as though we've done quite a bit for any start-up
company.  At the end of last quarter we had nearly US$2 million
in the bank, which shows that we have the necessary funds to
continue operations for a while.  That coupled with the fact
we're constantly growing our business operations," Jamaica
Gleaner quoted Mr. Toevs as saying.

The report notes that external funding totaling some US$2.5
million was secured for Jammin Java earlier this year from a
company called Straight Path.  Jamaica Gleaner says that the
funding allowed Jammin Java to hold US$1.8 million cash at the
end of period.

Mr. Toevs also said numerous distribution deals were recently
signed, the report adds.

Jammin Java Corp., a development stage company, focuses on
providing premium roasted coffee on a wholesale level to the
service, hospitality, office coffee service, and big box store
market in the United States.  It intends to produce coffee on the
leased farmland in the Blue Mountain region of Jamaica.


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


CL FINANCIAL: Denies Reneging on Payment Schedule
-------------------------------------------------
Jamaica Gleaner reports that CL Financial Limited Group has
denied reneging on its offer of a partial payment on the
US$342 million owed to noteholders in Jamaica and Trinidad &
Tobago.

CL Financial said Jamaican noteholders can still access
US$20 million payment up to Oct. 6, 2011, and that another
US$20 million tranche would become available by Dec. 31,
according to a statement issued that quoted both its Chief
Executive Officer Marlon Holder and subsidiary Lascelles de
Mercado's Managing Director Fraser Thornton, Jamaica Gleaner
notes.

The report discloses that CL Financial said it had initially
changed the offer on October 3 after an unsolicited proposal
suggesting a different arrangement.

"CL wishes to make it very clear that it has reverted to the
first offer and that the US$20 million sitting in the trustee's
account is available for payment to all noteholders who wish to
transfer their notes to CL Limited," CL Financial said, according
to Jamaica Gleaner.

The report says that the Jamaican notes are said to represent
about 12% of the value of the bonds.

Bondholders wanting to be paid can offer up their notes to either
the trustee or Lex Caribbean, the attorneys for CL/Lascelles,
said CL Financial, 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.


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


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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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