TCRLA_Public/111103.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, November 3, 2011, Vol. 12, No. 218

                            Headlines



A R G E N T I N A

ALEJANDRO MAGARINOS: Applies for Bankruptcy Protection
ALLOYS SRL: Creditors' Proofs of Debt Due Dec. 19
AREA DIGITAL: Creditors' Proofs of Debt Due Dec. 27
AYA SERVICIOS: Creditors' Proofs of Debt Due Nov. 29
SACRE COEUR: Applies for Bankruptcy Protection

SERVICIOS INTEGRALES: Applies for Bankruptcy Protection


B A H A M A S

BAICO: Barbados Judicial Managers Seek to Liquidate Firm


B E R M U D A

DIGICEL GROUP: Maybe Interested in Acquiring Eircom


B R A Z I L

RBS COMUNICACOES: S&P Raises Ratings to 'BB+' on Credit Metrics


C A Y M A N   I S L A N D S

BAUHINIA HOLDINGS: Members Receive Wind-Up Report
BLACKSTONE FIFTH: Shareholders' Final Meeting Set for Nov. 9
CLARKSON FREIGHT: Shareholder to Receive Wind-Up Report on Dec. 8
COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11
COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11

COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11
COMMONFUND EVENT-DRIVEN: Shareholders' Meeting Set for Nov. 11
COMMONFUND FIXED: Shareholders' Final Meeting Set for Nov. 11
COMMONFUND LONG: Shareholders' Final Meeting Set for Nov. 11
KITHIRA VENTURES: Shareholders' Final Meeting Set for Nov. 10

KWF ASSETS: Member Receives Wind-Up Report
MARSELLA SA: Members Receive Wind-Up Report
RAEF INVESTMENTS: Members Receive Wind-Up Report
SPARX MAC 21: Members Receive Wind-Up Report
STERLING CAPITAL: Shareholders' Final Meeting Set for Nov. 11


C O S T A   R I C A

INSTITUTO COSTARRICENSE: Fitch Rates Proposed Sr. Bonds at 'BB+'


J A M A I C A

MONTEGO FREEPORT: To Sell Six Assets, Winds Up Operations


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




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A R G E N T I N A
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ALEJANDRO MAGARINOS: Applies for Bankruptcy Protection
------------------------------------------------------
Alejandro Magarioos Cervantes 1576 applied for bankruptcy
protection.  The company defaulted on its payments last Sept. 30,
2011.


ALLOYS SRL: Creditors' Proofs of Debt Due Dec. 19
-------------------------------------------------
Estudio Behar Di Stefano Asociados, the court-appointed trustee
for Alloys SRL's reorganization proceedings, will be verifying
creditors' proofs of claim until Dec. 19, 2011.

The trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 3 in Buenos Aires, with the assistance of Clerk
No. 5, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Creditors will vote to ratify the completed settlement plan
during the assembly on Oct. 3, 2012.

The Trustee can be reached at:

         Estudio Behar Di Stefano Asociados
         Parana 631
         Argentina


AREA DIGITAL: Creditors' Proofs of Debt Due Dec. 27
---------------------------------------------------
Nelida Grunblatt de Nobile, the court-appointed trustee for Area
Digital SA's reorganization proceedings, will be verifying
creditors' proofs of claim until Dec. 27, 2011.

The Trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 6 in Buenos Aires, with the assistance of Clerk
No. 11, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Creditors will vote to ratify the completed settlement plan
during the assembly on Sept. 20, 2012.

The Trustee can be reached at:

         Nelida Grunblatt de Nobile
         Felipe Vallese 2195
         Argentina


AYA SERVICIOS: Creditors' Proofs of Debt Due Nov. 29
----------------------------------------------------
Marcela Adriana Bellani, the court-appointed trustee for Aya
Servicios Industriales SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until Nov. 29, 2011.

The Trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 10 in Buenos Aires, with the assistance of Clerk
No. 19, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

The Trustee can be reached at:

         Marcela Adriana Bellani
         Marcelo Torcuato de Alvear 1364
         Argentina


SACRE COEUR: Applies for Bankruptcy Protection
----------------------------------------------
Sacre Coeur SA applied for bankruptcy protection.


SERVICIOS INTEGRALES: Applies for Bankruptcy Protection
-------------------------------------------------------
Servicios Integrales Produtec SA applied for bankruptcy
protection.  The company has defaulted on its payments last 2008.


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B A H A M A S
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BAICO: Barbados Judicial Managers Seek to Liquidate Firm
--------------------------------------------------------
Julie Wilson at Caribbean News Now reports that Barbados Finance
Minister of Finance and Economic Affairs, Chris Sinckler, said
British American Insurance Company's issues had been practically
resolved.  BAICO is a subsidiary of CL Financial Limited.

The company's judicial managers in Barbados had recommended that
the company's assets be liquidated, according to Caribbean News
Now.  The report relates that Minister Sinckler explained this
would result in minimal government exposure.

Minister Sinckler also disclosed that a strategic partner had
expressed an interest in buying the assets of BAICO, Caribbean
News Now says.

British American Insurance Company is a Bahamian company, which is
owned by Trinidad-based parent CL Financial.

Casey McDonald, the British Virgin Islands liquidator for British
American Isle of Venice (BVI), Ltd, filed a Chapter 11 petition
(Bankr. S.D. Fla. Case No. 10-21627) on April 29, 2010.  Mr.
McDonald is represented by Leyza F. Blanco, Esq., at Gray Robinson
in Miami, Fla.  At the time of the filing, the liquidator
estimated British American Isle of Venice (BVI), Ltd's asset at
less than US$10 million and its debts at more than US$100 million.
Two affiliates -- British American Insurance Company Limited
(Bankr. S.D. Fla. Case No. 09-31881) and British American
Insurance Company Limited (Bankr. S.D. Fla. Case No. 09-35888) --
are also subject to the jurisdiction of the U.S. Bankruptcy Court.


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B E R M U D A
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DIGICEL GROUP: Maybe Interested in Acquiring Eircom
---------------------------------------------------
Jamaica Gleaner reports that rumors have emerged that Digicel
Group Limited is planning to acquire troubled Irish telecoms
provider Eircom.  However, the report relates that Digicel Group
is refusing to say anything about the topic.

It calls the reports speculative, but has made no outright
denials, according to Jamaica Gleaner.

"We have no comment.  We don't comment on speculation," Jamaica
Gleaner quoted Antonia Graham, head of group public relations, as
saying.

The report notes that Eircom delayed the release of its financials
amid restructuring its EUR3.7 billion debt, according to filings
to shareholders.  The report relates that Eircom said it was
approached by a third party but declined to identify the provider.

Jamaica Gleaner, citing UK-based newspaper The Sunday Times, notes
that the suitor is Digicel Group.

                        About Digicel Group

Digicel Group Limited -- http://www.digicelgroup.com/-- is
renowned for competitive rates, unbeatable coverage, superior
customer care, a wide variety of products and services and state-
of-the-art handsets.  By offering innovative wireless services
and community support, Digicel Group has become a leading brand
across its 31 markets worldwide.

Digicel is incorporated in Bermuda and now has operations in 31
markets worldwide.  Its Caribbean and Central American markets
comprise Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda,
Bonaire, the British Virgin Islands, the Cayman Islands, Curacao,
Dominica, El Salvador, French Guiana, Grenada, Guadeloupe,
Guyana, Haiti, Honduras, Jamaica, Martinique, Panama, St. Kitts
Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname,
Trinidad & Tobago and Turks & Caicos.  The Caribbean company also
has coverage in St. Martin and St. Barts.  Digicel Pacific
comprises Fiji, Papua New Guinea, Samoa, Tonga and Vanuatu.

                           *     *     *

As of September 27, 2011, the company continues to carry Moody's
"Caa1" senior unsecured debt rating.


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B R A Z I L
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RBS COMUNICACOES: S&P Raises Ratings to 'BB+' on Credit Metrics
---------------------------------------------------------------
Standard & Poor's Ratings Services raised the ratings on Brazil-
based media company RBS Comunicacoes S.A.e Empresas Combinadas
(RBS) to 'BB+' from 'BB'.  The outlook is stable.

"The upgrade is based on our view that the company has maintained
consistently prudent financial policies, with strong liquidity and
low leverage, despite more volatile EBITDA margins due to
investments in new business segments.  Even assuming a more
aggressive growth strategy into alternative media venues such
as Internet sites, events, and education, we expect RBS to
maintain credit metrics that are in line with an intermediate
financial profile," S&P related.


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C A Y M A N   I S L A N D S
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BAUHINIA HOLDINGS: Members Receive Wind-Up Report
-------------------------------------------------
The members of Bauhinia Holdings Limited received on Oct. 21,
2011, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Buchanan Limited
         P.O. Box 1170 George Town, Grand Cayman
         Cayman Islands


BLACKSTONE FIFTH: Shareholders' Final Meeting Set for Nov. 9
-------------------------------------------------------------
The shareholders of Blackstone Fifth Avenue Offshore Fund Ltd.
will hold their final meeting on Nov. 9, 2011, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Sean Flynn
         HF Fund Services Ltd.
         PO Box 242
         45 Market Street
         Gardenia Court, Camana Bay
         Grand Cayman KY1-1104
         Cayman Islands


CLARKSON FREIGHT: Shareholder to Receive Wind-Up Report on Dec. 8
-----------------------------------------------------------------
The shareholder of Clarkson Freight Fund will receive on Dec. 8,
2011, at 3:00 p.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidators are:

         Frank Connolly
         Ross Allen
         Clifton Fund Consulting Limited (trading as KB
Associates)
         Fleming Court, Fleming's Place, Mespil Road,
         Dublin 4, Ireland


COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11
----------------------------------------------------------------
The shareholders of Commonfund Absolute Return Investors Company
will hold their final meeting on Nov. 11, 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 Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11
----------------------------------------------------------------
The shareholders of Commonfund Absolute Return Multi-Strategy
Company will hold their final meeting on Nov. 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:

         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


COMMONFUND ABSOLUTE: Shareholders' Final Meeting Set for Nov. 11
----------------------------------------------------------------
The shareholders of Commonfund Absolute Return Opportunities
Company will hold their final meeting on Nov. 11, 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 Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


COMMONFUND EVENT-DRIVEN: Shareholders' Meeting Set for Nov. 11
--------------------------------------------------------------
The shareholders of Commonfund Event-Driven Company will hold
their final meeting on Nov. 11, 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 Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


COMMONFUND FIXED: Shareholders' Final Meeting Set for Nov. 11
-------------------------------------------------------------
The shareholders of Commonfund Fixed Income Arbitrage Company will
hold their final meeting on Nov. 11, 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 Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


COMMONFUND LONG: Shareholders' Final Meeting Set for Nov. 11
------------------------------------------------------------
The shareholders of Commonfund Long/Short Equity Company will hold
their final meeting on Nov. 11, 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
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


KITHIRA VENTURES: Shareholders' Final Meeting Set for Nov. 10
-------------------------------------------------------------
The shareholders of Kithira Ventures Limited will hold their final
meeting on Nov. 10, 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


KWF ASSETS: Member Receives Wind-Up Report
------------------------------------------
The sole member of KWF Assets Limited received on Oct. 31, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         HSBC Trustees (Singapore) Limited
         21 Collyer Quay
         #09-01, HSBC Building
         Singapore 049320


MARSELLA SA: Members Receive Wind-Up Report
-------------------------------------------
The members of Marsella S.A. received on Oct. 21, 2011, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Buchanan Limited
         P.O. Box 1170 George Town, Grand Cayman
         Cayman Islands


RAEF INVESTMENTS: Members Receive Wind-Up Report
------------------------------------------------
The members of Raef Investments Ltd. received on Oct. 31, 2011,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


SPARX MAC 21: Members Receive Wind-Up Report
--------------------------------------------
The members of Sparx Mac 21 Ltd. received on Oct. 31, 2011, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Beverly Mathias
         c/o Citco Trustees (Cayman) Limited
         P.O. Box 31106
         Grand Cayman KY1-1205
         Cayman Islands


STERLING CAPITAL: Shareholders' Final Meeting Set for Nov. 11
-------------------------------------------------------------
The shareholders of Sterling Capital Management (Cayman) Limited
will hold their final meeting on Nov. 11, 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 Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


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C O S T A   R I C A
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INSTITUTO COSTARRICENSE: Fitch Rates Proposed Sr. Bonds at 'BB+'
----------------------------------------------------------------
Fitch Ratings has assigned a foreign and local currency Issuer
Default Ratings (IDR) of 'BB+' to Instituto Costarricense de
Electricidad y Subsidiarias (Grupo ICE).  Fitch expects to assign
a 'BB+' to the company's proposed senior unsecured bond issuance.
The Rating Outlook is Stable.

Group ICE's ratings are supported by the company's linkage to the
Sovereign of Costa Rica (rated with a 'BB+' FC and LC IDR by
Fitch) that stems from the government ownership.  The linkage
between Grupo ICE and the government also reflects the company's
political risk resulting from its tariff approval process and
government mandated strategy, which temper the ratings to that of
the sovereign.  The ratings also reflect the government's implicit
and explicit support, the company's diversified portfolio of
assets and adequate financial profile.  Also factored into Grupo
ICE's ratings is the company's aggressive capital expenditure
program aimed at maintaining a strong market share position in the
telecommunication business and an adequate installed electric
generation capacity.

Diversified Portfolio Assets:

Grupo ICE's ratings are supported by the company's diversified
portfolio of assets and its strong business position in Costa
Rica's electricity and telecommunication industries.  The ratings
reflect the company's low business risk resulting from its
business diversification and characteristics as a utility service
provider.

Grupo ICE has a legal monopoly in the electricity sector in Costa
Rica. The issuer is the largest power generator and electric
distribution utility company in the country.  As of year-end 2010,
Grupo ICE had an installed electric generation capacity of 1,998.8
megawatts (MW) (national capacity of 2,605MW) and was the
exclusive owner of the national transmission grid.  The national
electric industry includes private generation, municipal
distribution and electric cooperatives that can generate energy in
coordination with Grupo ICE or sell their energy to Grupo ICE.
The company is expected to remain a leader in the
telecommunications industry in the country, notwithstanding recent
changes that opened the industry to competition.  Although this
will increase competition in the telecommunication industry, it is
also expected to enhance regulatory transparency.

Adequate Financial Profile:

Grupo ICE's ratings reflect the company's solid financial profile
characterized by moderate leverage and strong interest coverage,
yet with some exposure to foreign exchange risk, which should
deteriorate over the medium term as the company pursues its
capital expenditures plan.  As of the last 12 months (LTM) ended
June 30, 2011, the company's EBITDA increased to approximately
US$701 million from USD638 million in 2010.  This was mainly due
to increases in telecom revenues and lower operating costs.  As of
June 2011, Grupo ICE reported total debt of US$2.5 billion, of
which USD469 million was short term and near 80% was denominated
in US$.  This translated into a moderate financial leverage, as
measured by total adjusted debt-to-EBITDAR (annualized) of
approximately 3.6 times(x).  The company's interest coverage as
measured by EBITDAR-to-interest and rent expenses was healthy at
2.6(x) (5.0 x EBITDA/Interest).

Aggressive Capital Expenditures Plan:

Grupo ICE's capital investment plan over the next several years is
considered aggressive and could weaken the company's financial
profile absent increasing cash flow generation and adequate tariff
adjustments.  The company plans to invest approximately US$5
billion over the next five years in order to supply electricity to
meet demand and maintain its leadership position in the
telecommunication businesses in Costa Rica.  Going forward, Grupo
ICE's credit metrics could deteriorate significantly. Leverage
could increase to over 5.0x if the company finances its capital
investment plan heavily with debt.  Grupo ICE expects to finance
its investments with a combination of internal cash flow, debt,
Build Operate and Transfer (BOT) transactions, project finance
vehicles and operating leases.

High Exposure to Regulatory and Political Interference:

Grupo ICE is highly exposed to regulatory interference risk given
the lack of clear and transparent electricity and
telecommunications tariff schemes.  Every year the company submits
to the regulator for approval an electricity tariff for end users.
Historically, the regulator has approved these tariffs at levels
that do not fully recognize the company's moderate exposure to
fuel prices borne by its thermoelectric generation business.  This
increases Grupo ICE's exposure to hydrology risk given that during
periods of low hydrology and more thermoelectric generation (8%-
10% of annual generation in average), profitability margins could
be pressured.  The Telecom tariff has been maintained since 2006.
Despite this risk, Grupo ICE has managed to maintain stable cash
flow generation.  Also, the company is exposed to political
interference given that the government appoints and removes ICE's
directors and executives, sets and approves the company's tariffs,
and regulates its budget.


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


MONTEGO FREEPORT: To Sell Six Assets, Winds Up Operations
---------------------------------------------------------
Jamaica Gleaner reports that Montego Freeport Limited is
finalizing plans to sell off six property assets after which the
company will be delisted and wound up.

The responsibility for selling the company's last four parcels of
land has been assigned to parent company Urban Development
Corporation, while inside sources say two other properties will
otherwise be listed on the market, according to Jamaica Gleaner.

The report notes that the lands whose sale UDC would be finalizing
were identified as lots A26, A50B, M19 and H51.  Jamaica Gleaner
relates that the other two properties, Shop 34 at the Freeport
Shopping Centre and Apartment G101 at Seawind on the Bay, are to
be disposed of by next year.

MFL Chairman Johnny Gourzong was said to be unavailable for
comment, but his statement to shareholders released with the
annual report ahead of the annual general meeting, in August,
suggested that hiring UDC as agent would allow Montego Freeport,
which has little to no income, to contain its expenses while
winding down operations, Jamaica Gleaner discloses.

Chairman Gourzong said the lots already had interested buyers.

Jamaica Gleaner says that all staff at MFL have been made
redundant.  The report relates that contract services for general
manager, financial consultant and part-time accountant were
retained.

The company has also advised the Jamaica Stock Exchange that it
plans to apply for delisting, Jamaica Gleaner discloses.

"Full realization of the company's mandate will only be achieved
once the company ensures complete execution of all sales agreement
stipulations; in essence, the company is bound to ensure that all
the lots it sold are developed according to the respective
approved usage," Jamaica Gleaner quoted Mr. Gourzong as saying.

At yearend March 2011, the company saw a steep decline in its
financial position. It reported JM$40 million of income but had
JM$51 million of expenses, and made a net loss of JM$62 million
due primarily, Chairman Gourzong said, "to a reassessment, based
on present market conditions, of the book values for lots M19 and
H51," Jamaica Gleaner discloses.

Montego Freeport Limited is largely government-owned through the
UDC and its subsidiary, National Hotels and Properties Limited,
which together hold 81.95%.  The other top shareholders are Dr
Irvin Hoo-Fat and Veronica Hoo-Fat, G.L. Enterprises Limited, MFG
Trust & Finance Limited a/c 528, Peter Lee, Samuel Hart and Son
Limited, Karl Wright, Manchester Pension Trust Fund Limited and
Zerlene Taylor-Burbank and family.

Montego Freeport Limited was incorporated as a public company on
February 15, 1966 to reclaim and develop up to 500 acres of land
in a section of the Bogue area, now known as Montego Freeport.


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

Dec. 1-3, 2011
  AMERICAN BANKRUPTCY INSTITUTE
     23rd Annual Winter Leadership Conference
        La Quinta Resort & Spa, La Quinta, Calif.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 3-5, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        Grand Hyatt Atlanta, Atlanta, Ga.
           Contact: http://www.turnaround.org/

Apr. 19-22, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Annual Spring Meeting
        Gaylord National Resort & Convention Center,
        National Harbor, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

July 14-17, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Southeast Bankruptcy Workshop
        The Ritz-Carlton Amelia Island, Amelia Island, Fla.
           Contact: 1-703-739-0800; http://www.abiworld.org/

Aug. 2-4, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Mid-Atlantic Bankruptcy Workshop
        Hyatt Regency Chesapeake Bay, Cambridge, Md.
           Contact: 1-703-739-0800; http://www.abiworld.org/

November 1-3, 2012
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Westin Copley Place, Boston, Mass.
           Contact: http://www.turnaround.org/

Nov. 29 - Dec. 2, 2012
  AMERICAN BANKRUPTCY INSTITUTE
     Winter Leadership Conference
        JW Marriott Starr Pass Resort & Spa, Tucson, Ariz.
           Contact: 1-703-739-0800; http://www.abiworld.org/

April 10-12, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Spring Conference
        JW Marriott Chicago, Chicago, Ill.
           Contact: http://www.turnaround.org/

October 3-5, 2013
  TURNAROUND MANAGEMENT ASSOCIATION
     TMA Annual Convention
        Marriott Wardman Park, Washington, D.C.
           Contact: http://www.turnaround.org/


                            ***********


Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to publication.
Prices reported are not intended to reflect actual trades.  Prices
for actual trades are probably different.  Our objective is to
share information, not make markets in publicly traded securities.
Nothing in the TCR-LA constitutes an offer or solicitation to buy
or sell any security of any kind.  It is likely that some entity
affiliated with a TCR-LA editor holds some position in the
issuers' public debt and equity securities about which we report.

Tuesday's edition of the TCR-LA features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

A list of Meetings, Conferences and Seminars appears in each
Thursday's edition of the TCR-LA. Submissions about insolvency-
related conferences are encouraged.  Send announcements to
conferences@bankrupt.com


                            ***********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Psyche A. Castillon, Ivy B.
Magdadaro, Frauline S. Abangan, and Peter A. Chapman, Editors.

Copyright 2011.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
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Information contained herein is obtained from sources believed to
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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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