TCRLA_Public/111031.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 31, 2011, Vol. 12, No. 215

                            Headlines



B E R M U D A

GENERAL MILLS: Creditors' Proofs of Debt Due Nov. 3
GENERAL MILLS: Member to Receive Wind-Up Report on Nov. 18
ISLAND GENERATORS: Creditors' Proofs of Debt Due Nov. 2
ISLAND GENERATORS: Members' Final Meeting Set for Nov. 24
ISLAND TURBINES: Creditors' Proofs of Debt Due Nov. 2

ISLAND TURBINES: Members' Final Meeting Set for Nov. 24
PROFESSIONAL & GENERAL: Creditors' Proofs of Debt Due Nov. 2
PROFESSIONAL & GENERAL: Members' Final Meeting Set for Nov. 23
SOLDUS INVESTORS: Creditors' Proofs of Debt Due Nov. 2
SOLDUS INVESTORS: Members' Final Meeting Set for Nov. 24

SPC ABUELA: Creditors' Proofs of Debt Due Nov. 4
SPC ABUELA: Member to Receive Wind-Up Report on Nov. 21


C A Y M A N   I S L A N D S

ACORN (USD): Creditors' Proofs of Debt Due Nov. 14
AENEAS EVOLUTION: Creditors' Proofs of Debt Due Nov. 9
COMMON SENSE: Creditors' Proofs of Debt Due Oct. 31
EMR MASTER: Creditors' Proofs of Debt Due Nov. 10
FHU-JIN LTD: Creditors' Proofs of Debt Due Nov. 8

HM5/GP CAYMAN: Creditors' Proofs of Debt Due Nov. 4
HM5/GP CAYMAN: Shareholders' Final Meeting Set for Nov. 7
ICE EM SPECIAL: Creditors' Proofs of Debt Due Nov. 1
JULYRAINBOW MD 11-99: Creditors' Proofs of Debt Due Nov. 8
MILOS LIMITED: Creditors' Proofs of Debt Due Nov. 14

QUEEN STREET: Creditors' Proofs of Debt Due Nov. 8
SCHERING-PLOUGH: Creditors' Proofs of Debt Due Nov. 11
SPENCER CAPITAL: Creditors' Proofs of Debt Due Nov. 9
SUCCESSOR CAL: Creditors' Proofs of Debt Due Nov. 8
SUCCESSOR HURRICANE: Creditors' Proofs of Debt Due Nov. 8

WHITNEY GREEN: Creditors' Proofs of Debt Due Nov. 10


G R E N A D A

* GRENADA: Finance Minister Seeks Probe on EC$76MM Taiwan Loan


M E X I C O

* CHIHUAHUA STATE: Moody's Lowers Issuer Ratings to 'Ba1'
* MORELOS STATE: Moody's Changes 'Ba2' Rating Outlook to Positive


T R I N I D A D  &  T O B A G O

CL FIN'L: Caretaker Sues Former Exec Over TT$3.4MM Loan
* TRINIDAD & TOBAGO: Gets US$50MM Loan for Water Quality Project


X X X X X X X X

* BOND PRICING: For the Week October 24 to October 28, 2011


                            - - - - -


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B E R M U D A
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GENERAL MILLS: Creditors' Proofs of Debt Due Nov. 3
---------------------------------------------------
The creditors of General Mills Global Holdings Four Ltd. are
required to file their proofs of debt by Nov. 3, 2011, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Oct. 17, 2011.

The company's liquidator is:

          Ernest A. Morrison
          Cox Hallett Wilkinson Limited
          Bermuda


GENERAL MILLS: Member to Receive Wind-Up Report on Nov. 18
----------------------------------------------------------
The sole member of General Mills Global Holdings Four Ltd. will
receive on Nov. 18, 2011, at 9:30 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Ernest A. Morrison
          Cox Hallett Wilkinson Limited
          Bermuda


ISLAND GENERATORS: Creditors' Proofs of Debt Due Nov. 2
-------------------------------------------------------
The creditors of Island Generators (Bermuda), Ltd. are required
to file their proofs of debt by Nov. 2, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on Oct. 13, 2011.

The company's liquidator is:

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


ISLAND GENERATORS: Members' Final Meeting Set for Nov. 24
---------------------------------------------------------
The members of Island Generators (Bermuda), Ltd. will hold their
final meeting on Nov. 24, 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


ISLAND TURBINES: Creditors' Proofs of Debt Due Nov. 2
-----------------------------------------------------
The creditors of Island Turbines (Bermuda), Ltd. are required to
file their proofs of debt by Nov. 2, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Oct. 13, 2011.

The company's liquidator is:

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


ISLAND TURBINES: Members' Final Meeting Set for Nov. 24
-------------------------------------------------------
The members of Island Turbines (Bermuda), Ltd. will hold their
final meeting on Nov. 24, 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


PROFESSIONAL & GENERAL: Creditors' Proofs of Debt Due Nov. 2
------------------------------------------------------------
The creditors of Professional & General Insurance Co. (Bermuda)
Limited are required to file their proofs of debt by Nov. 2,
2011, to be included in the company's dividend distribution.

The company commenced wind-up proceedings on Oct. 14, 2011.

The company's liquidator is:

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


PROFESSIONAL & GENERAL: Members' Final Meeting Set for Nov. 23
--------------------------------------------------------------
The members of Professional & General Insurance Co. (Bermuda)
Limited will hold their final meeting on Nov. 23, 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


SOLDUS INVESTORS: Creditors' Proofs of Debt Due Nov. 2
------------------------------------------------------
The creditors of Soldus Investors Limited are required to file
their proofs of debt by Nov. 2, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Oct. 17, 2011.

The company's liquidator is:

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


SOLDUS INVESTORS: Members' Final Meeting Set for Nov. 24
--------------------------------------------------------
The members of Soldus Investors Limited will hold their final
meeting on Nov. 24, 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


SPC ABUELA: Creditors' Proofs of Debt Due Nov. 4
------------------------------------------------
The creditors of SPC Abuela Ltd. are required to file their
proofs of debt by Nov. 4, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Oct. 14, 2011.

The company's liquidators are:

          Charles Thresh
          Mike Morrison
          KPMG Advisory Limited
          Crown House, 4 Par-La-Ville Road
          Hamilton
          Bermuda


SPC ABUELA: Member to Receive Wind-Up Report on Nov. 21
-------------------------------------------------------
The sole member of SPC Abuela Ltd. will receive on Nov. 21, 2011,
at 10:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Charles Thresh
          Mike Morrison
          KPMG Advisory Limited
          Crown House, 4 Par-La-Ville Road
          Hamilton
          Bermuda


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


ACORN (USD): Creditors' Proofs of Debt Due Nov. 14
--------------------------------------------------
The creditors of Acorn (USD) Fund Limited are required to file
their proofs of debt by Nov. 14, 2011, to be included in the
company's dividend distribution.

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

The company's liquidator is:

          Susan Lo
          Telephone: (852) 2980 1618
          Facsimile: (852) 2956 2192
          Tricor Services Limited
          Three Pacific Place, Level 28
          1 Queen's Road East
          Hong Kong


AENEAS EVOLUTION: Creditors' Proofs of Debt Due Nov. 9
------------------------------------------------------
The creditors of Aeneas Evolution Portfolio, Ltd. are required to
file their proofs of debt by Nov. 9, 2011, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 21, 2011.

The company's liquidator is:

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


COMMON SENSE: Creditors' Proofs of Debt Due Oct. 31
---------------------------------------------------
The creditors of Common Sense Portable Alpha Offshore Ltd. are
required to file their proofs of debt by Oct. 31, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 28, 2011.

The company's liquidator is:

          Mark Wentzien
          15350 SW Sequoia Parkway
          Suite 250, Portland
          Oregon  97224
          United States of America


EMR MASTER: Creditors' Proofs of Debt Due Nov. 10
-------------------------------------------------
The creditors of EMR Master Fund, Ltd. are required to file their
proofs of debt by Nov. 10, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Sept. 26, 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


FHU-JIN LTD: Creditors' Proofs of Debt Due Nov. 8
-------------------------------------------------
The creditors of FHU-JIN Ltd are required to file their proofs of
debt by Nov. 8, 2011, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Sept. 26, 2011.

The company's liquidators are:

          David Preston
          Beverly Bernard
          P.O. Box 1109 Grand Cayman KY1-1102
          Cayman Islands
          c/o Nicola Eccleston
          Telephone: 949-7755
          Facsimile: 949-7634


HM5/GP CAYMAN: Creditors' Proofs of Debt Due Nov. 4
---------------------------------------------------
The creditors of HM5/GP Cayman Ltd. are required to file their
proofs of debt by Nov. 4, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 29, 2011.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          Stuarts Walker Hersant
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands


HM5/GP CAYMAN: Shareholders' Final Meeting Set for Nov. 7
---------------------------------------------------------
The shareholders of HM5/GP Cayman Ltd. will hold their final
meeting on Nov. 7, 2011, at 9:00 a.m., to receive the
liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          Stuarts Walker Hersant
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands


ICE EM SPECIAL: Creditors' Proofs of Debt Due Nov. 1
----------------------------------------------------
The creditors of Ice EM Special Situations Fund (Cayman), Ltd.
are required to file their proofs of debt by Nov. 1, 2011, to be
included in the company's dividend distribution.

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

The company's liquidator is:

          Ogier
          c/o Jonathan McLean
          Telephone: (345) 815 1805
          Facsimile: (345) 949-9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


JULYRAINBOW MD 11-99: Creditors' Proofs of Debt Due Nov. 8
----------------------------------------------------------
The creditors of Julyrainbow MD 11-99 Limited are required to
file their proofs of debt by Nov. 8, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 26, 2011.

The company's liquidators are:

          David Preston
          Beverly Bernard
          P.O. Box 1109 Grand Cayman KY1-1102
          Cayman Islands
          c/o Nicola Eccleston
          Telephone: 949-7755
          Facsimile: 949-7634


MILOS LIMITED: Creditors' Proofs of Debt Due Nov. 14
----------------------------------------------------
The creditors of Milos Limited are required to file their proofs
of debt by Nov. 14, 2011, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Sept. 28, 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


QUEEN STREET: Creditors' Proofs of Debt Due Nov. 8
--------------------------------------------------
The creditors of Queen Street Ltd are required to file their
proofs of debt by Nov. 8, 2011, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 26, 2011.

The company's liquidators are:

          David Preston
          Beverly Bernard
          P.O. Box 1109 Grand Cayman KY1-1102
          Cayman Islands
          c/o Nicola Eccleston
          Telephone: 949-7755
          Facsimile: 949-7634


SCHERING-PLOUGH: Creditors' Proofs of Debt Due Nov. 11
------------------------------------------------------
The creditors of Schering-Plough Products Caribe, Inc. are
required to file their proofs of debt by Nov. 11, 2011, to be
included in the company's dividend distribution.

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

The company's liquidator is:

          Richard L. Finlay
          c/o Noel Webb
          Telephone: (345) 814 7394
          Facsimile: (345) 945 3902
          P.O. Box 2681, Grand Cayman KY1-1111
          Cayman Islands


SPENCER CAPITAL: Creditors' Proofs of Debt Due Nov. 9
-----------------------------------------------------
The creditors of Spencer Capital Offshore Opportunity Fund, Ltd.
are required to file their proofs of debt by Nov. 9, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 2, 2011.

The company's liquidator is:

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


SUCCESSOR CAL: Creditors' Proofs of Debt Due Nov. 8
---------------------------------------------------
The creditors of Successor Cal Quake Parametric Ltd are required
to file their proofs of debt by Nov. 8, 2011, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on Sept. 26, 2011.

The company's liquidators are:

          David Preston
          Beverly Bernard
          P.O. Box 1109 Grand Cayman KY1-1102
          Cayman Islands
          c/o Nicola Eccleston
          Telephone: 949-7755
          Facsimile: 949-7634


SUCCESSOR HURRICANE: Creditors' Proofs of Debt Due Nov. 8
---------------------------------------------------------
The creditors of Successor Hurricane Industry Ltd are required to
file their proofs of debt by Nov. 8, 2011, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 26, 2011.

The company's liquidators are:

          David Preston
          Beverly Bernard
          P.O. Box 1109 Grand Cayman KY1-1102
          Cayman Islands
          c/o Nicola Eccleston
          Telephone: 949-7755
          Facsimile: 949-7634


WHITNEY GREEN: Creditors' Proofs of Debt Due Nov. 10
----------------------------------------------------
The creditors of Whitney Green River Offshore Fund, Ltd. are
required to file their proofs of debt by Nov. 10, 2011, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 22, 2011.

The company's liquidator is:

          Simon Conway
          c/o Sarah Moxam
          Telephone: (345) 914 8634
          Facsimile: (345) 945 4237
          P.O. Box 258 Grand Cayman KY1-1104
          Cayman Islands


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G R E N A D A
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* GRENADA: Finance Minister Seeks Probe on EC$76MM Taiwan Loan
--------------------------------------------------------------
Jamaica Gleaner reports that Grenada Finance Minister Nazim Burke
has ordered an investigation into whether loans from Taiwan
totaling EC$76 million (US$28.1 million) to Grenada before it
broke off diplomatic relations in 2005 had been approved by
parliament.  Mr. Burke is currently acting as prime minister in
the absence of Tillman Thomas.

The aim of the investigation, he said, is to confirm whether that
had been done by the former Keith Mitchell administration,
according to Jamaica Gleaner.

As reported in the Troubled Company Reporter-Latin America on
Oct. 28, 2011, Jamaica Gleaner said Mr. Burke has accused Taiwan
of trying to cripple the island's economy as it attempts to
recover loans.  Mr. Burke's comments in a radio interview come
amid reports that Taiwan has sought to seize Grenadian properties
in the United States in an attempt to collect the outstanding
money.  Jamaica Gleaner noted that Mr. Burke said Taiwan had
refused proposals for a negotiated settlement to the problem,
instead insisting on payments of the entire loan.  The report
related Mr. Burke said Grenada cannot pay all the outstanding
money immediately.  Informed sources said that Grenada plans to
seek the intervention of St Kitts-Nevis, St Lucia and St Vincent
and the Grenadines -- countries with diplomatic relations with
Taipei -- to help mediate a settlement, Jamaica Gleaner added.

Meanwhile, Jamaica Gleaner relates that the opposition has called
for Mr. Burke to resign or be fired, saying he was mishandling
the financial row that has developed, according to Jamaica
Gleaner.

"Because of his mismanagement, he has plunged the country into
the worst financial disaster that ever experienced by any of our
people . . . .  We are calling on the prime minister to fire the
minister,"  Jamaica Gleaner quoted said former Attorney General
Elvin Nimrod of the main opposition New National Party (NNP).

Jamaica Gleaner notes that former Finance Minister Anthony
Boatswain said that the Mitchell administration should not be
blamed for Taiwan's subpoenaing these institutions.  The report
relates that Mr. Boatswain said an effort to deal with the debt
was interrupted by general elections.


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


* CHIHUAHUA STATE: Moody's Lowers Issuer Ratings to 'Ba1'
---------------------------------------------------------
Moody's de Mexico downgraded the State of Chihuahua's issuer
ratings to Ba1 (Global Scale, local currency) and A1.mx (Mexico
National Scale) from Baa3 and Aa3.mx, respectively.  The outlook
on the issuer ratings remains stable.

Issuers or issues rated A1.mx present above-average
creditworthiness relative to other domestic issuers.

Ratings Rationale

The downgrade on the issuer rating is driven by Chihuahua's weak
financial performance.  The state has recorded continuous modest
cash financing requirements that have led to increases in debt
over the past five years.

Over the period 2006-2010 Chihuahua registered consecutive cash
financing requirements that have averaged -4.8% of total
revenues, a moderate level.  Moody's expects cash financing
requirements will increase in 2011 driven by the operating
(mainly education and public security) and capital spending
pressures in conjunction with the slowdown of revenue growth due
to the deceleration of the Mexican economy and the absence of a
state tax that substitutes the federal vehicle registry tax.

The weak financial performance led to a rapid increase in debt
levels as a percentage of total revenues.  Over the period 2006-
2010, net direct and indirect debt to total revenues ratio
increased at a compound annual growth rate of 44%, reaching 20.3%
in 2010 from a low 4.7% in 2006.  "Moody's expects this indicator
will trend up to roughly 30% by the end of 2011, considering the
MXN 3 billion bond issued last September", said Moody's Assistant
Vice-President Adrian Garza.

The issuer ratings continue to reflect Chihuahua's good
governance and management practices and its solid economy.
"Chihuahua shows the highest ratio of own source revenues to
total revenues among Moody's rated States", said Mr. Garza.
However, Chihuahua's strengths are partially offset by the
relatively weak liquidity which hinders Chihuahua's capacity to
face unexpected financial shocks, and by the unfunded pension
liabilities of uncertain size that could potentially limit the
state's financial flexibility in the medium term.

A steady reduction in cash financing requirements that lead to
the decrease in debt levels along with the strengthening of the
liquidity position, and measures to address the unfunded pension
liabilities, could likely exert upward pressure on the ratings.
Conversely, a shift in policy direction that results in greater
than expected cash financing requirements, significant increases
in debt and tighter liquidity could exert downward pressure on
the ratings.


* MORELOS STATE: Moody's Changes 'Ba2' Rating Outlook to Positive
-----------------------------------------------------------------
Moody's de Mexico changed the outlook on the State of Morelos'
A2.mx issuer rating (Mexico National Scale) and Ba2 issuer rating
(Global Scale, local currency) to positive from stable.

Ratings Rationale

The outlook change reflects: (1) solid financial results in
recent years and (2) very low debt indicators, even after
considering expected additional debt.  Both key drivers are
supported by Morelos' good governance and management practices.

Over the last five years, Morelos has registered consecutive
annual cash financing surpluses equivalent, on average, to 1.8%
of total revenues.  "These results reflect the state's consistent
efforts to control expenditure growth and initiatives to increase
own-source revenues", said Moody's Assistant Vice-President
Adrian Garza.  While Moody's expects the state to register a non
recurring cash financing deficit due to additional capital
expenditures in 2011, Moody's considers it will be moderate and
that it will not represent a shift in fiscal policy.

Morelos' strong financial performance has resulted in very low
debt levels.  Moody's expects debt indicators to increase in
2011, since the state will finance its 2011 deficit with two 15
year loans with Bancomer and Banamex.  These credits will add up
to MXN 1 billion to the state's debt.  Roughly 10% of the states'
participation transfers are pledged for debt service payments
through a trust.  Accordingly, net direct and indirect debt to
total revenues ratio will increase in 2011 to roughly 6%, still a
very low level as compared to Moody's rated Mexican States", said
Mr. Garza.  Furthermore, Morelos does not face significant
refinancing risks since use of short term financing is minimal.

The ratings of Morelos also reflect: (a) relatively narrow
economy that constrains own-source revenues, (b) tight liquidity
which hinders Morelos capacity to face unexpected financial
shocks, and (c) unfunded pension liabilities of unknown size that
could potentially limit Morelos' financial flexibility in the
medium term.

The positive outlook reflects the trends of financial performance
and low debt metrics. Over the next 12 to 18 months, the decision
to upgrade the ratings will depend on Morelos' (a) registering
modest cash financing deficits, (b) maintaining low debt levels,
and (c) preserving strong governance and management.

Although Moody's does not expect downward pressure on the ratings
over the short term, a significant shift in policy direction that
results in greater than expected cash financing requirements,
significant increases in debt, tighter liquidity and/or the
weakening of governance and management practices could lead to
the revision of the outlook back to stable.


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


CL FIN'L: Caretaker Sues Former Exec Over TT$3.4MM Loan
-------------------------------------------------------
Camini Marajh at Trinidad Express reports that the Trinidad and
Tobago government-appointed caretaker management of CL Financial
Limited has sued former executive Anthony Maharaj over an alleged
unpaid loan related to his 2007 acquisition of the group's media
unit, CL Communications Ltd.

The lawsuit is seeking damages for an alleged unpaid debt of some
TT$3,441,937 owed to CL Financial plus damages, interest and
legal costs, among other things, according to Trinidad Express.

The report, citing the statement of case made out against Mr.
Maharaj, relates that Mr. Maharaj reneged on an April 17, 2007
promissory note to CLF for a block of 70,009 shares held in the
group's media unit.

Trinidad Express discloses that the action, filed by attorney Kim
Berkeley, contends that Mr. Maharaj "wrongfully omitted, failed
and/or neglected to pay the promised sum" of money on or before
June 30, 2007 for the receipt of CL Communications shares.

The report notes that a demand for payment on the outstanding
debt was made by CL Financial Chief Financial Officer Winston
Millette on June 14 and again on June 22 this year.  The June 22
correspondence which referenced a response from Mr. Maharaj's
attorney Dharmendra Punwasee made clear that CL Financial was not
inclined to grant Mr. Maharaj's request for an extension of the
seven-day settlement deadline which Mr. Millette had issued in
his letter of June 14.

The June 22 correspondence instead put Mr. Maharaj on notice of
CL Financial's intention to sue for recovery of the outstanding
debt if he did not immediately settle the account, Trinidad
Express says.   The report relates that Mr. Punwasee, in a
response to Mr. Millette two days later, however, insisted that
the debt had been settled in full.

Mr. Punwasee said the CLF debt was paid via two cheque payments,
the first by way of a CLICO Investment Bank (CIB) manager's
cheque dated February 14, 2007 and the second, by way of a
TT$2,384,615 cheque paid directly to CL Financial's account by
Louis Andre Monteil &/or his wife Sherlyn Rose Marie Monteil,
former group financial director and former chairman of CIB,
Trinidad Express relates.

E-mail correspondence from Colonial Life Insurance Company
(Trinidad) Limited (CLICO) Accounting Officer Corrie Gomez to Mr.
Millette, however, made clear there is no evidence on record that
any such payments were received by the CL Financial group,
Trinidad Express notes.  The report relates that Mr. Gomez, in
the court filing, said that Mr. Maharaj's claim of a TT$15
million CIB-issued cheque paid to CLICO could not be
substantiated.

Mr. Maharaj's attorney had said that TT$1,057,322 of the
TT$15 million cheque payment had been applied to the CLF sale of
CL Communications shares, 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 US100 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: Gets US$50MM Loan for Water Quality Project
----------------------------------------------------------------
Trinidad and Tobago will improve environmental conditions and the
efficiency of the national Water and Sewerage Authority (WASA)
with a US$50 million loan approved by the Inter-American
Development Bank (IDB).

The operation will target a number of malfunctioning or abandoned
wastewater treatment plants in three sub-catchments draining in
the Caroni River Basin, in a densely populated area known as the
East-West Corridor.  This corridor stretches from the capital of
Port-of-Spain to Arima, some 15 miles to the east.

Seven treatment plants will be interconnected with integrated
systems that will draw their wastewaters into a number of larger
plants, four of which will be rehabilitated.  Priority works will
begin in the Maloney sub-catchment.

As a result of the program, levels of contamination in affected
rivers and streams will be drastically reduced and brought to
compliance with the country's stringent Water Pollution Rules.

A total of 13 kilometers of sewers and pipes will be laid as part
of the five-year operation to complement the works on the
wastewater treatment plants, benefitting more than 9,000 families
currently being affected by poor wastewater management.  While
these families are the direct target of the proposed
intervention, the whole urban population of Trinidad and Tobago
will benefit from the improved water quality and better
environmental conditions.

Water monitoring programs and training on operation and
maintenance of the rehabilitated plants will ensure the
sustainability of these investments.  In addition, the project
aims to improve the efficiency of WASA, cutting down operating
expenses within a broader personnel reorganization framework.
With program resources, compensation packages and vocational
training will be financed as part of this restructuring process.

The loan is for a 25-year term, with a five-year grace period, at
a variable interest rate based on LIBOR.


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


* BOND PRICING: For the Week October 24 to October 28, 2011
-----------------------------------------------------------

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

ARGENTINA
---------

ARGENT-DIS          8.28     12/31/2033        USD          63.3
ARGENT-DIS          8.28     12/31/2033        USD          72.5
ARGENT-DIS          8.28     12/31/2033        USD          73.5
ARGENT-DIS          7.82     12/31/2033        EUR            59
ARGENT-DIS          7.82     12/31/2033        EUR          59.8
ARGENT-DIS          4.33     12/31/2033        JPY            42
ARGENT-PAR&GDP      0.45     12/31/2038        JPY             8
BOGAR 2018          2          2/4/2018        ARS            26
PROV BUENOS AIRE    9.625     4/18/2028        USD          65.6
PROV BUENOS AIRE    9.375     9/14/2018        USD          76.4
PROV BUENOS AIRE    9.375     9/14/2018        USD          76.6
PROV BUENOS AIRE    10.875    1/26/2021        USD          77.4

   BRAZIL
   ------
REDE EMPRESAS       11.125                     USD          81


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

BANCO BPI (CI)       4.15     11/14/2035       EUR          45
BCP FINANCE BANK     5.01      3/31/2024       EUR          48.3
BCP FINANCE BANK     5.31     12/10/2023       EUR          50.5
BCP FINANCE CO       4.239                     EUR          32.8
BCP FINANCE CO       5.543                     EUR          32
BES FINANCE LTD      5.58                      EUR          34.8
BES FINANCE LTD      4.5                       EUR          37
CHAODA MOD AGRI      3.7        9/1/2015       USD          76
CHINA AUTOMATION     7.75      4/20/2016       USD          65
CHINA FORESTRY       10.25     11/17/2015      USD          60
CHINA FORESTRY       10.25     11/17/2015      USD          73.5
CHINA HUIYUAN JU      4         4/29/2016      USD          73.5
CHINA MED TECH        6.25     12/15/2016      USD          54.9
CHINA MED TECH        4         8/15/2013      USD          60.2
CHINA SUNERGY         4.75      6/15/2013      USD          60
DUBAI HLDNG COMM      6         2/1/2017       GBP          70
EFG ORA FUNDING       1.7      10/29/2014      EUR          46.6
ESFG INTERNATION      5.753                    EUR          36.8
EVERGRANDE REAL       13        1/27/2015      USD          74.5
EVERGRANDE REAL       13        1/27/2015      USD          78.6
FANTASIA HOLDING      14        5/12/2015      USD          61.4
FANTASIA HOLDING      14        5/12/2015      USD          65.4
FUFENG GROUP LTD      7.625     4/13/2016      USD            65
GLORIOUS PROPERT     13        10/25/2015      USD          64.9
GREENTOWN CHINA       9        11/8/2013       USD          60.4
GREENTOWN CHINA       9        11/8/2013       USD          60.4
HIDILI INDUSTRY        8.6     11/4/2015       USD          70.4
HIDILI INDUSTRY        8.62    11/4/2015       USD          58
IMCOPA INTL CAYM       5     12/19/2014        USD          33
JA SOLAR HOLD CO       4.5     5/15/2013       USD          64
JINKOSOLAR HOLD        4       5/15/2016       USD          40.4
KAISA GROUP           13.5     4/28/2015       USD          68.4
KAISA GROUP           13.5     4/28/2015       USD          68.5
KAISA GROUP            8      12/20/2015       CNY          69.4
KWG PROPERTY HOL      12.5     8/18/2017       USD          69.3
KWG PROPERTY HOL      12.5     8/18/2017       USD          70
LDK SOLAR CO LTD       4.75    4/15/2013       USD          69.7
LUPATECH FINANCE       9.87                    USD          75
LUPATECH FINANCE       9.87                    USD          74.4
MINGFA GROUP INT       5.25    5/23/2016       HKD          72
POLARCUS LTD           2.8     4/27/2016       USD          76.6
POWERLONG RE HLD       13.75   9/16/2015       USD          66.4
POWERLONG RE HLD       11.5    3/17/2014       CNY          67
POWERLONG RE HLD       13.75   9/16/2015       USD          66.9
PUBMASTER FIN          5.9    12/30/2024       GBP          69.6
RENHE COMMERCIAL      13       3/10/2016       USD          71
RENHE COMMERCIAL      11.75    5/18/2015       USD          71.1
RENHE COMMERCIAL      11.75    5/18/2015       USD          70
RENHE COMMERCIAL      13       3/10/2016       USD          89.3
SHIMAO PROPERTY        8       12/1/2016       USD          74.4
SHIMAO PROPERTY        8       12/1/2016       USD          70.5
SOLARFUN POWER H       3.5     1/15/2018       USD          58
SOLARFUN POWER H       3.5     1/15/2018       USD          67.8
SPG LAND HOLDING      13.5     4/8/2016        USD          59
SUNTECH POWER          3       3/15/2013       USD          49.6
SUNTECH POWER          3       3/15/2013       USD          49.7
TEXHONG TEXTILE        7.62    1/19/2016       USD          70.4
TEXHONG TEXTILE        7.62    1/19/2016       USD          68
TRINA SOLAR LTD        4       7/15/2013       USD          74
YUZHOU PROPERTIE       13.5     12/15/2015     USD          65.8
YUZHOU PROPERTIE       13.5     12/15/2015     USD          65.8


CHILE
-----

AGUAS NUEVAS            3.4      5/15/2012     CLP          1.54
CGE DISTRIBUCION        3.25     12/1/2012     CLP         30
ESVAL S.A.              3.8      7/15/2012     CLP         25.3
INVERSIONES ALSA        8        8/18/2018     USD         77.6
LA POLAR SA             3.8     10/10/2017     CLP         51.5
MASISA                  4.25    10/15/2012     CLP         19.9
QUINENCO SA             3.5      7/21/2013     CLP         24.9

PANAMA
------
NEWLAND INT PROP        9.5     11/15/2014      USD         74.6


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

BANCO SANTANDER         6.1       6/1/2032      USD         56.2
BANCO SANTANDER         6.3       6/1/2032      USD         56.3
PUERTO RICO CONS        6.2       5/1/2017      USD         55
PUERTO RICO CONS        6.5       4/1/2016      USD         61


VENEZUELA
---------

PETROLEOS DE VEN        5.5      4/12/2037      USD         45
PETROLEOS DE VEN        5.37     4/12/2027      USD         46.3
PETROLEOS DE VEN        5.25     4/12/2017      USD         59.4
PETROLEOS DE VEN        5.12    10/28/2016      USD         60
PETROLEOS DE VEN        5       10/28/2015      USD         65.7
PETROLEOS DE VEN        8.5     11/2/2017       USD         70.7
PETROLEOS DE VEN        8.5     11/2/2017       USD         68.3
PETROLEOS DE VEN        4.9     10/28/2014      USD         73.4
PETROLEOS DE VEN        12.75    2/17/2022      USD         75.5
VENEZUELA                7       3/31/2038      USD         56.3
VENEZUELA                7       3/31/2038      USD         54.9
VENEZUELA                6       12/9/2020      USD         59.8
VENEZUELA                7.65     4/21/2025     USD         60
VENEZUELA                8.25    10/13/2024     USD         62.3
VENEZUELA                9.25     5/7/2028      USD         65
VENEZUELA                9        5/7/2023      USD         67
VENEZUELA                7       12/1/2018      USD         67
VENEZUELA                9.25     9/15/2027     USD         68.6
VENEZUELA                9.25     9/15/2027     USD         67.9
VENEZUELA                7.75     10/13/2019    USD         68
VENEZUELA               11.95     8/5/2031      USD         77
VENZOD - 189000          9.375    1/13/2034    USD          65.8


                             ***********


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 * * *