TCRLA_Public/111010.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

            Monday, October 10, 2011, Vol. 12, No. 200


                            Headlines

C A Y M A N   I S L A N D S

BABCOCK & BROWN: Shareholders Receive Wind-Up Report
COPREY INVESTMENTS: Shareholder to Hear Wind-Up Report on Oct. 14
ELECTROGLAS FAR EAST: Shareholders' Final Meeting Set for Oct. 12
GARTMORE LATIN: Shareholders' Final Meeting Set for Oct. 14
LINBEN LTD: Shareholders' Final Meeting Set for Oct. 12

LOMOND INVESTMENTS: Shareholders Receive Wind-Up Report
SAKURA FUNDING: Shareholders' Final Meeting Set for Oct. 14
SANDELMAN FUNDS: Shareholder Receives Wind-Up Report
SANDELMAN PARTNERS, ERISA: Shareholder Receives Wind-Up Report
SANDELMAN PARTNERS, MASTER: Shareholder Receives Wind-Up Report

SANDELMAN PARTNERS, MULTI: Shareholder Gets Wind-Up Report
SANDELMAN PARTNERS, OPPORTUNITY: Shareholder Gets Wind-Up Report
SHADWELL LTD: Members' Final Meeting Set for Oct. 11
SIGNUM ABC: Shareholders' Final Meeting Set for Oct. 14
UNIBANCO BRAZILIAN: Shareholders' Final Meeting Set for Oct. 10


J A M A I C A

MOY HALL: CCMB Seeks Gov't Intervention in Firm's Fight With CIB


T R I N I D A D  &  T O B A G O

BRITISH WEST: Retired Staff Go to Court, Seek Reinstatement Perks
* TRINIDAD & TOBAGO: Government to Continue State of Emergency


X X X X X X X X

* BOND PRICING: For the Week October 3 to October 7, 2011




                            - - - - -


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


BABCOCK & BROWN: Shareholders Receive Wind-Up Report
----------------------------------------------------
On Oct. 4, 2011, the shareholders of Babcock & Brown Managed
Workspace Limited received the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Rob Mcmahon
         c/o Mr. Geoff Baker
         Ernst & Young Ltd
         Telephone +1 345 914 9011
         e-mail: Geoff.Baker@ky.ey.com


COPREY INVESTMENTS: Shareholder to Hear Wind-Up Report on Oct. 14
-----------------------------------------------------------------
The shareholder of Coprey Investments Ltd. will receive on
Oct. 14, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

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


ELECTROGLAS FAR EAST: Shareholders' Final Meeting Set for Oct. 12
-----------------------------------------------------------------
The shareholders of Electroglas Far East Holding Company will
hold their final meeting on Oct. 12, 2011, at 3:00 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Thomas Brunton
         807 Lakeshore Dr., Redwood City, CA 94065
         USA
         c/o Barnaby Gowrie
         e-mail: Barnaby.gowre@walkersglobal.com
         Telephone: +1 345 9146365
         Walkers, 87 Mary Street, George Town
         Grand Cayman KY1-9001
         Cayman Islands


GARTMORE LATIN: Shareholders' Final Meeting Set for Oct. 14
-----------------------------------------------------------
The shareholders of Gartmore Latin America L/S Trading Limited
will hold their final meeting on Oct. 14, 2011, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


LINBEN LTD: Shareholders' Final Meeting Set for Oct. 12
-------------------------------------------------------
The shareholders of Linben Ltd. will hold their final meeting on
Oct. 12, 2011, at 12:00 noon, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945-8859
         Facsimile: 949-9793/4
         P.O. Box 30622 Grand Cayman KY1-1203
         Cayman Islands


LOMOND INVESTMENTS: Shareholders Receive Wind-Up Report
-------------------------------------------------------
On Sept. 12, 2011, the shareholders of Lomond Investments Ltd.
received the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Richard Frederick Maxwell Cook
         P.H. Star & Herald,
         Flat #22, Demetrio Brid Street
         San Felipe, Panama City
         Republic of Panama
         Telephone: (507) 395 3308
         Facsimile: (507) 395 3309


SAKURA FUNDING: Shareholders' Final Meeting Set for Oct. 14
-----------------------------------------------------------
The shareholders of Sakura Funding Limited will hold their final
meeting on Oct. 14, 2011, at 10:15 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


SANDELMAN FUNDS: Shareholder Receives Wind-Up Report
----------------------------------------------------
The sole shareholder of Sandelman Funds GP Limited received on
Sept. 19, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Robin Lee Mcmahon
         c/o Lynden John
         Telephone: (345) 814 8915
         Facsimile: (345) 814 8529
         Ernst & Young Ltd.
         62 Forum Lane, Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


SANDELMAN PARTNERS, ERISA: Shareholder Receives Wind-Up Report
--------------------------------------------------------------
The sole shareholder of Sandelman Partners Multistrategy Erisa
Fund, Ltd. received on Oct. 6, 2011, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Robin Lee Mcmahon
         c/o Lynden John
         Telephone: (345) 814 8915
         Facsimile: (345) 814 8529
         Ernst & Young Ltd.
         62 Forum Lane, Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


SANDELMAN PARTNERS, MASTER: Shareholder Receives Wind-Up Report
---------------------------------------------------------------
The sole shareholder of Sandelman Partners Multistrategy Master
Fund, Ltd. received on Oct. 6, 2011, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Robin Lee Mcmahon
         c/o Lynden John
         Telephone: (345) 814 8915
         Facsimile: (345) 814 8529
         Ernst & Young Ltd.
         62 Forum Lane, Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


SANDELMAN PARTNERS, MULTI: Shareholder Gets Wind-Up Report
----------------------------------------------------------
The sole shareholder of Sandelman Partners Multistrategy Fund,
Ltd. received on Oct. 6, 2011, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Robin Lee Mcmahon
         c/o Lynden John
         Telephone: (345) 814 8915
         Facsimile: (345) 814 8529
         Ernst & Young Ltd.
         62 Forum Lane, Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


SANDELMAN PARTNERS, OPPORTUNITY: Shareholder Gets Wind-Up Report
----------------------------------------------------------------
The sole shareholder of Sandelman Partners Opportunity Fund, Ltd.
received on Oct. 6, 2011, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Robin Lee Mcmahon
         c/o Lynden John
         Telephone: (345) 814 8915
         Facsimile: (345) 814 8529
         Ernst & Young Ltd.
         62 Forum Lane, Camana Bay
         PO Box 510 Grand Cayman KY1-1106
         Cayman Islands


SHADWELL LTD: Members' Final Meeting Set for Oct. 11
----------------------------------------------------
The members of Shadwell Ltd. will hold their final meeting on
Oct. 11, 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:

         H&J Corporate Services (Cayman) Ltd.
         5th Floor, Anderson Square
         Shedden Road
         PO Box 866, Grand Cayman KY1-1103
         Cayman Islands
         Telephone: (345) 949 7555 (ext. 618)


SIGNUM ABC: Shareholders' Final Meeting Set for Oct. 14
-------------------------------------------------------
The shareholders of Signum ABC Limited will hold their final
meeting on Oct. 14, 2011, to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


UNIBANCO BRAZILIAN: Shareholders' Final Meeting Set for Oct. 10
---------------------------------------------------------------
The shareholders of Unibanco Brazilian Managers Equities FOF will
hold their final meeting on Oct. 10, 2011, at 3:30 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

Paulo Corchaki is the company's liquidator.


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


MOY HALL: CCMB Seeks Gov't Intervention in Firm's Fight With CIB
----------------------------------------------------------------
Avia Collinder at Jamaica Gleaner reports that Rupert Scott,
chairman of the Blue Mountain Coffee Co-operative (BMCC-Moy
Hall), is pushing for government intervention in the three-year
fight between Moy Hall and the Coffee Industry Board over the
suspension of its licensee to trade coffee beans.

The impasse with the CIB has led to the lands and factory being
offered up for sale by Moy Hall's financier, Capital and Credit
Merchant Bank, for unpaid debt, which Mr. Scott estimates is now
above JM$100 million, according to Jamaica Gleaner.  The report
relates that MBCC-Moy Hall was also indebted to Yutaka Trading
and Coffee Pacifica.

Mr. Scott, Jamaica Gleaner notes, said that the troubles of the
factory started on April 30, 2008, when its license to sell
coffee beans was suspended by the CIB that halted efforts to find
equity partners for Moy Hall, which was already struggling
financially.

The report discloses that the suspension was also short on
options to service a loan of JM$68 million from CCMB that was
used to fund purchase of cherry coffee from the co-operative's
network of 3,000 suppliers.

Jamaica Gleaner says that Moy Hall's annual turnover was
JM$300 million prior to the 2008 suspension of sales.  The
business has been dormant since then, the report relates.

"The debt will be above JM$100 million now because of the
interest, and may well exceed the value of the assets, which
include 1,000 acres, factory and buildings," Mr. Scott told the
news agency in an interview.

Jamaica Gleaner relates that on October 2, assets comprising
1,134.68 acres of agricultural land and 12 factory-type buildings
were advertised for sale.  Coffee sources said the seller was
CCMB, the report notes.

Mr. Scott said that since 2008, investors willing to help the co-
operative have been discouraged by the stance of the CIB, which
has kept "changing the goal post," Jamaica Gleaner discloses.

CIB Director General Chris Gentles said the license was suspended
in the interest of the farmers, the report adds.


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


BRITISH WEST: Retired Staff Go to Court, Seek Reinstatement Perks
-----------------------------------------------------------------
Kim Boodram at Trinidad Express reports that retired staff of the
former national airline, British West Indies aka BWIA, will
appear in the Industrial Court seeking the re-instatement of
employee perks that were removed with the 'demise' of their
employer.

Staff, including former flight attendants and pilots in 2009,
sued the current national airline entity, Caribbean Airlines, for
such earned benefits as subsidized medical plans, according to
Trinidad Express.

The report notes that former flight attendant union
representative, Roslyn Amon, said week there are retired staff
members who may "go to their graves penniless" before the matter
is resolved.

                     About British West Indies

British West Indies aka BWIA was founded in 1940, and for more
than 60 years had been serving the Caribbean islands from
Trinidad and Tobago, the hub of the Americas, linking the twin
island republic and many other Caribbean islands with North
America, South America, the United Kingdom and Europe.

The airline had reportedly been losing US$1 million a week due to
poor operational management.  An employee survey revealed that
lack of responsibility by the management was a major issue in the
company.  A number of key employees moved to other companies
caused by a deadlock in the airline's negotiation with its labor
union.

The Trinidad & Tobago government, which owns 97.188% of BWIA,
decided to shut down the airline on Dec. 31, 2006, and launch the
Caribbean Airlines.


* TRINIDAD & TOBAGO: Government to Continue State of Emergency
--------------------------------------------------------------
Caribbean360.com reports that Prime Minister Kamla Persad-
Bissessar-led administration has opted to continue the State of
Emergency following a review by security agencies and Cabinet.

The prime minister said it was decided that the SoE, which
expires Dec. 5, and the five hour curfew implemented in several
areas of Trinidad will remain, according to Caribbean360.com.

She said the measure, introduced in late August, has led to the
arrest of almost 4000 people, while three quarter billion dollars
in drugs have been seized or destroyed.

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.  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 Persad-Bissessar disclosed a limited
state of emergency and curfew in "hotspots" in the country to
deal with escalating crime.


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


* BOND PRICING: For the Week October 3 to October 7, 2011
---------------------------------------------------------

Issuer             Coupon    Maturity     Currency       Price
------             ------    --------     --------       -----

ARGENTINA
---------

BOGAR 2018                2    2/4/2018       ARS           128
BODEN 2014                2    9/30/2014      ARS            99
ARGENT-$DIS            8.28    12/31/2033     USD            64
PROV BUENOS AIRE      9.375    9/14/2018      USD          72.3
ARGENT-$DIS            8.28    12/31/2033     USD          61.9
ARGENT-$DIS            8.28    12/31/2033     USD            67
ARGENT- PAR&GDP        0.45    12/31/2038     JPY             8
PROV BUENOS AIRE      9.625    4/18/2028      USD            72
PROV BUENOS AIRE      9.375    9/14/2018      USD          71.1
ARGENT- DIS            4.33    12/31/2033     JPY            42
ARGENT- DIS            7.82    12/31/2033     EUR           62.5
ARGENT- DIS            7.82    12/31/2033     EUR            60
ARGENT- PAR             1.18    12/31/2038     ARS          44.7

CAYMAN ISLAND
-------------

IMCOPA INTL CAYM          5    12/19/2014     USD            33
BCP FINANCE CO        5.543                   EUR          32.2
BCP FINANCE CO        4.239                   EUR            31
ESFG INTERNATION      5.753                   EUR          35.1
EFG ORA FUNDING         1.7    10/29/2014     EUR          45.1
SUNTECH POWER             3    3/15/2013      USD          51.6
LDK SOLAR CO LTD         10    2/28/2014      CNY            50
CHINA SUNERGY          4.75    6/15/2013      USD            60
SOLARFUN POWER H        3.5    1/15/2018      USD          64.4
CHINA AUTOMATION       7.75    4/20/2016      USD          65.1
CHAODA MOD AGRI         3.7    9/1/2015       USD            76
SPG LAND HOLDING       13.5    4/8/2016       USD            70
GLORIOUS PROPERT         13    10/25/2015     USD          70.1
JA SOLAR HOLD CO        4.5    5/15/2013      USD          70.5
POLARCUS LTD          2.875    4/27/2016      USD          74.3
JINKOSOLAR HOLD           4    5/15/2016      USD          32.2
SUNTECH POWER             3    3/15/2013      USD          50.4
CHINA MED TECH         6.25    12/15/2016     USD          61.7
MARFRIG OVERSEAS        9.5    5/4/2020       USD            65
SOLARFUN POWER H        3.5    1/15/2018      USD          68.7
CHINA FORESTRY        10.25    11/17/2015     USD            70
YUZHOU PROPERTIE       13.5    12/15/2015     USD          72.8
BES FINANCE LTD        5.58                   EUR          32.8
CHINA MED TECH            4    8/15/2013      USD          66.1
BANCO BPI (CI)         4.15    11/14/2035     EUR          36.2
BES FINANCE LTD         4.5                   EUR          36.5
BES FINANCE LTD       6.625                   EUR            46
BCP FINANCE BANK       5.01    3/31/2024      EUR          71.6
BCP FINANCE BANK       5.31    12/10/2023     EUR          74.3
BES FINANCE LTD       1.625    4/15/2013      USD          74.6
DUBAI HLDNG COMM          6    2/1/2017       GBP          72.5
LDK SOLAR CO LTD       4.75    4/15/2013      USD          59.4
TRINA SOLAR LTD           4    7/15/2013      USD          71.9
MARFRIG OVERSEAS        9.5    5/4/2020       USD          64.3
CHINA FORESTRY        10.25    11/17/2015     USD          73.5
FANTASIA HOLDING         14    5/12/2015      USD          77.5
YUZHOU PROPERTIE       13.5    12/15/2015     USD          72.9
EVERGRANDE REAL        9.25    1/19/2016      CNY          72.1
TEXHONG TEXTILE       7.625    1/19/2016      USD            86


CHILE
-----

AGUAS NUEVAS            3.4     5/15/2012      CLP         1.154
CGE DISTRIBUCION        3.25   12/1/2012       CLP         29.73
ESVAL S.A.              3.8     7/15/2012      CLP         24.87
LA POLAR SA             3.8    10/10/2017      CLP         51.34
MASISA                  4.25   10/15/2012      CLP         29.77
QUINENCO SA             3.5     7/21/2013      CLP         24.73


PUERTO RICO
-----------

PUERTO RICO CONS        6.2    5/1/2017       USD          55.2
PUERTO RICO CONS        6.5    4/1/2016       USD            61
BANCO SANTANDER         6.1    6/1/2032       USD          60.9
BANCO SANTANDER         6.3    6/1/2032       USD          61.1


VENEZUELA
---------

PETROLEOS DE VEN      5.375    4/12/2027      USD          43.9
VENEZUELA                 7    3/31/2038      USD          53.7
PETROLEOS DE VEN       5.25    4/12/2017      USD          55.2
VENEZUELA              7.65    4/21/2025      USD          53.5
VENZOD - 189000       9.375    1/13/2034      USD          63.5
VENEZUELA              9.25    9/15/2027      USD          63.2
VENEZUELA              9.25    9/15/2027      USD          64.4
PETROLEOS DE VEN        8.5    11/2/2017      USD          66.4
PETROLEOS DE VEN      12.75    2/17/2022      USD          75.8
PETROLEOS DE VEN        4.9    10/28/2014     USD          67.3
PETROLEOS DE VEN          5    10/28/2015     USD          60.2
PETROLEOS DE VEN      5.125    10/28/2016     USD          56.6
PETROLEOS DE VEN        5.5    4/12/2037      USD          42.6
VENEZUELA                 7    3/31/2038      USD            53
VENEZUELA              8.25    10/13/2024     USD          58.8
VENEZUELA              9.25    5/7/2028       USD          61.8
VENEZUELA              7.75    10/13/2019     USD          59.5
VENEZUELA                 7    12/1/2018      USD            59
VENEZUELA                 9    5/7/2023       USD            63
PETROLEOS DE VEN        8.5    11/2/2017      USD          64.7
VENEZUELA              5.75    2/26/2016      USD            68
VENEZUELA             11.95    8/5/2031       USD          73.3
PETROLEOS DE VEN      12.75    2/17/2022      USD          73.2
VENEZUELA                 6    12/9/2020      USD            53


                            ***********


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 * * *