TCRLA_Public/120105.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, January 5, 2012, Vol. 13, No. 004

                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Antigua to Buy Property for Airport Project


B E R M U D A

GLOBAL FUTURES: Creditors' Proofs of Debt Due Jan. 6
GLOBAL FUTURES: Member to Receive Wind-Up Report on Jan. 24
GLOBAL FUTURES: Creditors' Proofs of Debt Due Jan. 6
GLOBAL FUTURES: Member to Receive Wind-Up Report on Jan. 23
INTERCITY TIRE: Creditors' Proofs of Debt Due Jan. 9

MAN-IP 220 PLUS: Creditors' Proofs of Debt Due Jan. 6
MAN-IP 220 PLUS: Member to Receive Wind-Up Report on Jan. 24
MAN-IP 220 PLUS: Creditors' Proofs of Debt Due Jan. 6
MAN-IP 220 PLUS: Member to Receive Wind-Up Report on Jan. 23
SIN HENG: Creditors' Proofs of Debt Due Jan. 6

SIN HENG: Members' Final Meeting Set for Jan. 25


B R A Z I L

BR MALLS: Moody's Affirms Corporate Family Rating at 'Ba1'


C A Y M A N   I S L A N D S

ALTERNATIVEFOCUS ALTITUDE: Placed Under Voluntary Wind-Up
ASG QGM: Placed Under Voluntary Wind-Up
CHG INVESTMENT: Commences Liquidation Proceedings
COLUMBUS HILL: Placed Under Voluntary Wind-Up
HDI HOTEL: Commences Liquidation Proceedings

MAN EVENT: Commences Liquidation Proceedings
MAN HELVETIC: Commences Liquidation Proceedings
MAN RELATIVE: Commences Liquidation Proceedings
MANAGED ACCOUNTS: Placed Under Voluntary Wind-Up
MIDFIELD INVESTMENT: Placed Under Voluntary Wind-Up

OMNI ASIA: Creditors' Proofs of Debt Due Jan. 5
OMNI ASIA: Creditors' Proofs of Debt Due Jan. 5
OUH INVESTMENTS: Creditors' Proofs of Debt Due Jan. 5
PHOENIX INTERNATIONAL: Creditors' Proofs of Debt Due Jan. 5
R-ONE AGEO: Commences Liquidation Proceedings

R-ONE ITABASHI: Commences Liquidation Proceedings
R-ONE NIIGATA: Commences Liquidation Proceedings
SPARK INVESTMENT: Shareholder Receives Wind-Up Report
TCP ASIA: Commences Liquidation Proceedings
TRIDENT MICROSYSTEMS (Far East): Files for Chapter 11


J A M A I C A

RBCJ: Incurs JM$840-Mil. Loss in Sept. Quarter on Bad Debt


M E X I C O

VITRO SAB: Quickly Seeks to Set Aside Stay Disrupting Plan
VITRO SAB: U.S. Trustee Wants VAC Cases Converted to Chapter 7


T R I N I D A D  &  T O B A G O

HINDU CREDIT UNION: Depositors Pleads Government for Payment


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


STANFORD INT'L: Antigua to Buy Property for Airport Project
-----------------------------------------------------------
Jamaica Gleaner reports that the Antigua and Barbuda government
said it will acquire property owned by the company of former
financier, Robert Allen Stanford, as it seeks to construct a new
terminal at the VC Bird International Airport.  Mr. Stanford is
the owner of Stanford International Bank Limited.

Antigua Prime Minister Baldwin Spencer said the construction of
the new terminal, which begins this month, necessitates the
utilization of two parcels of land currently owned by Stanford
Development Company Limited, according to Jamaica Gleaner.

Minister Spencer said that Mr. Stanford had in February 2003
purchased 25.59 acres around the airport compound from the
government, including the two parcels at a concessionary price of
EC$1.10 (US$0.40) per square foot, the report notes.

Minister Spencer, Jamaica Gleaner discloses, has instructed the
Airport Authority to hold discussions with the company "towards
arriving at a reasonable sale price of the two parcels of land
back to government and on terms that will allow for immediate
occupation."

                 About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
serves more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the U.S. District Court for the Northern
District of Texas, Dallas Division, signed an order appointing
Ralph Janvey as receiver for all the assets and records of
Stanford International Bank, Ltd., Stanford Group Company,
Stanford Capital Management, LLC, Robert Allen Stanford, James M.
Davis and Laura Pendergest-Holt and of all entities they own or
control.  The February 16 order, as amended March 12, 2009,
directs the Receiver to, among other things, take control and
possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.

The U.S. Securities and Exchange Commission on Feb. 17, 2009,
charged before the U.S. District Court in Dallas, Texas, Mr.
Stanford and three of his companies for orchestrating a
fraudulent, multi-billion dollar investment scheme centering on a
US$8 billion Certificate of Deposit program.

A criminal case was also pursued against Mr. Stanford in June
2009 before the U.S. District Court in Houston, Texas.  Mr.
Stanford pleaded not guilty to 21 charges of multi-billion dollar
fraud, money-laundering and obstruction of justice.  Assistant
Attorney General Lanny Breuer, as cited by Agence France-Presse
News, said in a 57-page indictment that Mr. Stanford could face
up to 250 years in prison if convicted on all charges.  Mr.
Stanford surrendered to U.S. authorities after a warrant was
issued for his arrest on the criminal charges.

The criminal case is U.S. v. Stanford, H-09-342 (S.D. Tex.).  The
civil case is SEC v. Stanford International Bank, 09-cv-00298
(N.D. Tex.).


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


GLOBAL FUTURES: Creditors' Proofs of Debt Due Jan. 6
----------------------------------------------------
The creditors of Global Futures XII Diversified Limited are
required to file their proofs of debt by Jan. 6, 2012, to be
included in the company's dividend distribution.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


GLOBAL FUTURES: Member to Receive Wind-Up Report on Jan. 24
-----------------------------------------------------------
The member of Global Futures XII Diversified Limited will receive
on Jan. 24, 2012, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


GLOBAL FUTURES: Creditors' Proofs of Debt Due Jan. 6
----------------------------------------------------
The creditors of Global Futures XII Diversified Trading Limited
are required to file their proofs of debt by Jan. 6, 2012, to be
included in the company's dividend distribution.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


GLOBAL FUTURES: Member to Receive Wind-Up Report on Jan. 23
-----------------------------------------------------------
The member of Global Futures XII Diversified Trading Limited will
receive on Jan. 23, 2012, at 9:30 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


INTERCITY TIRE: Creditors' Proofs of Debt Due Jan. 9
----------------------------------------------------
The creditors of Intercity Tire (Bermuda) Limited are required to
file their proofs of debt by Jan. 9, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Dec. 19, 2011.

The company's liquidator is:

        Ernest A. Morrison
        Cox Hallett Wilkinson Limited
        Bermuda


MAN-IP 220 PLUS: Creditors' Proofs of Debt Due Jan. 6
-----------------------------------------------------
The creditors of Man-IP 220 Plus (Series VRF) Ltd are required to
file their proofs of debt by Jan. 6, 2012, to be included in the
company's dividend distribution.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


MAN-IP 220 PLUS: Member to Receive Wind-Up Report on Jan. 24
------------------------------------------------------------
The member of Man-IP 220 Plus (Series VRF) Ltd will receive on
Jan. 24, 2012, at 9:30 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


MAN-IP 220 PLUS: Creditors' Proofs of Debt Due Jan. 6
-----------------------------------------------------
The creditors of Man-IP 220 Plus (Series VRF) Trading Ltd are
required to file their proofs of debt by Jan. 6, 2012, to be
included in the company's dividend distribution.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


MAN-IP 220 PLUS: Member to Receive Wind-Up Report on Jan. 23
------------------------------------------------------------
The member of Man-IP 220 Plus (Series VRF) Trading Ltd will
receive on Jan. 23, 2012, at 9:30 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

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

The company's liquidator is:

        Beverly Mathias
        c/o Argonaut Limited
        Argonaut House, 5 Park Road
        Hamilton HM O9
        Bermuda


SIN HENG: Creditors' Proofs of Debt Due Jan. 6
----------------------------------------------
The creditors of Sin Heng Holdings Ltd. are required to file
their proofs of debt by Jan. 6, 2012, to be included in the
company's dividend distribution.

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

The company's liquidator is:

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


SIN HENG: Members' Final Meeting Set for Jan. 25
------------------------------------------------
The members of Sin Heng Holdings Ltd. will hold their final
meeting on Jan. 25, 2012, at 9:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

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

The company's liquidator is:

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


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


BR MALLS: Moody's Affirms Corporate Family Rating at 'Ba1'
----------------------------------------------------------
Moody's America Latina Ltda. has assigned a national scale rating
of Aa2.br to the proposed senior unsecured debt issuance of
approximately R$300 million (Ba1 global scale rating).
Concurrently, Moody's has affirmed BR Malls Participacoes, S.A.
corporate family national rating at Aa2.br (Ba1 global scale
rating) and senior unsecured rating at Aa2.br (Ba1 global scale
rating). The rating outlook is stable.

Ratings Rationale

The new notes will be issued in two series and have a maturity of
five and seven years from the issue date.  The first issue will
have principal payments in two equal installments in the fourth
and fifth years; and the second issue will have principal
payments in two equal installments in the sixth and seventh
years.  The floating rate notes will be rank pari passu with
other unsecured debt. Proceeds from this offering will be used to
retire debt and for other general purposes.

The ratings incorporate BR Malls position as the largest owner
and manager of shopping centers in Brazil. The company has grown
significantly to R$12.6 billion in gross assets at 3Q11 from
R$2.8 billion at YE07.  BR Malls' portfolio is geographically
diversified across the country and diversified across consumer
income groups.  The malls have high occupancy at 97.6% and solid
operating margins at 76%.  The company is well positioned to
benefit from the positive retail fundamentals in Brazil stemming
from the limited supply of shopping malls and a growing middle
class with growing disposable income. The ratings are further
supported by the company's demonstrated access to capital and its
manageable debt maturity schedule.  Offsetting these strengths
are the risks associated with an aggressive growth strategy, the
greater risks and volatility associated with its floating rate
debt, and the limitations associated with its jointly owned
assets.

BR Malls effective leverage is considered low at only 23% of
gross assets as of 3Q11.  Fixed charge coverage is good at 2.1x
as of Sept. 30, 2011 and includes interest expense and
capitalized interest, however, when factoring in principal
amortization, fully loaded fixed charge coverage weakens somewhat
to 1.7x.  While effective leverage of 23% is more typical for a
higher rated company, fixed charge coverage of 2.1x is more
typical for the assigned ratings.  This discrepancy is
attributable to the higher capital costs in Brazil.

Unencumbered assets as a percentage of gross assets are modest at
36% due to the large size of the company.  However, unencumbered
assets in relation to its outstanding unsecured debt including
the proposed R$300 million debenture, is estimated at nearly 3x
coverage, and provides good protection to its bondholders.

The stable rating outlook reflects our expectation that the
company will have continued strong operating performance in light
of the favorable retail sector fundamentals in Brazil, the
benefits from BR Malls' size and established presence, and its
experienced management team.  The stable outlook also reflects
the company's modest leverage and manageable upcoming debt
maturities.

Positive ratings movement could occur as a result of BR Malls
continued successful execution of its growth strategy, an
improvement in fully loaded fixed charge coverage (interest
expense, capitalized interest and principal amortization)
consistently above 1.8x; an increase in unencumbered assets as
the company continues to grow; and an increase in majority
ownership of its joint ventures.  Conversely a downgrade would
occur should fully loaded fixed charge coverage remain below 1.4x
(interest expense, capitalized interest and principal
amortization) on a sustained basis, development exceed 15% of
gross assets, or debt to gross assets be consistently above 40%.

This rating was assigned with a stable outlook:

BR Malls Participacoes S.A.

-- R$300 million senior unsecured debentures at Ba1/Aa2.br

These ratings are affirmed with a stable outlook:

BR Malls Participacoes S.A.

-- R$50 million senior unsecured debenture first series due 2014
   at Ba1/Aa2.br

-- R$270 million senior unsecured debenture second series due
   2016 at Ba1/Aa2.br

-- Corporate family rating at Ba1/Aa2.br

Moody's last rating action on BR Malls Participacoes S.A. was on
November 22, 2011, when it assigned its first time ratings with a
stable outlook.

BR Malls is based in Rio de Janeiro and is the largest owner and
manager of shopping centers in Brazil.  BR Malls currently owns
interests in 45 malls diversified across 32 cities in Brazil plus
has six projects under development.  Total portfolio GLA measures
1,433.5 thousand square meters and BR Malls' owned share of these
joint ventures measures 798.2 thousand square meters.  BR Malls
is listed on the Brazilian stock exchange and complies with the
standards of corporate governance in the Brazilian stock market
as well as other listing standards set forth by the Comissao de
Valores Mobiliarios (CVM), which is the Brazilian equivalent to
the SEC.


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


ALTERNATIVEFOCUS ALTITUDE: Placed Under Voluntary Wind-Up
---------------------------------------------------------
On Nov. 22, 2011, the sole shareholder of Alternativefocus
Altitude International Ltd resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 26, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

        Avalon Management Limited
        Reference: GL
        Telephone: (+1) 345 769 4422
        Facsimile: (+1) 345 769 9351
        Landmark Square
        1st Floor, 64 Earth Close
        West Bay Beach
        PO Box 715, George Town
        Grand Cayman KY1-1107
        Cayman Islands


ASG QGM: Placed Under Voluntary Wind-Up
---------------------------------------
On Nov. 22, 2011, the sole shareholder of ASG QGM Master Fund,
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 29, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

        Ogier
        c/o Daniella Skotnicki
        Telephone: (345) 815-1861
        Facsimile: (345) 949-9877
        89 Nexus Way Camana Bay
        Grand Cayman KY1-9007
        Cayman Islands


CHG INVESTMENT: Commences Liquidation Proceedings
-------------------------------------------------
On Nov. 23, 2011, the sole shareholder of CHG Investment Holdings
(Cayman) Company Limited resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 28, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


COLUMBUS HILL: Placed Under Voluntary Wind-Up
---------------------------------------------
On Nov. 23, 2011, the sole shareholder of Columbus Hill
Opportunities Overseas, Ltd. resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 27, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

        Ogier
        c/o Susan Taber
        Telephone: (345) 815-1889
        Facsimile: (345) 949-9877
        89 Nexus Way, Camana Bay
        Grand Cayman KY1-9007
        Cayman Islands


HDI HOTEL: Commences Liquidation Proceedings
--------------------------------------------
On Nov. 23, 2011, the sole shareholder of HDI Hotel Operation
(Cayman) Company Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 28, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


MAN EVENT: Commences Liquidation Proceedings
--------------------------------------------
On Nov. 23, 2011, the shareholders of Man Event Driven Strategies
(Master) Ltd passed a resolution that voluntarily liquidates the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 28, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


MAN HELVETIC: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 23, 2011, the shareholders of Man Helvetic Top Select CHF
(Feeder) Ltd. passed a resolution that voluntarily liquidates the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 28, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


MAN RELATIVE: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 23, 2011, the shareholders of Man Relative Value
Strategies (Master) Limited passed a resolution that voluntarily
liquidates the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 28, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

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


MANAGED ACCOUNTS: Placed Under Voluntary Wind-Up
------------------------------------------------
On Nov. 22, 2011, the sole shareholder of Managed Accounts
Limited resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 26, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

        Avalon Management Limited
        Reference: GL
        Telephone: (+1) 345 769 4422
        Facsimile: (+1) 345 769 9351
        Landmark Square, 1st Floor
        64 Earth Close West Bay Beach
        PO Box 715, George Town
        Grand Cayman KY1-1107
        Cayman Islands


MIDFIELD INVESTMENT: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Nov. 15, 2011, the sole shareholder of Midfield Investment
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 16, 2011, will be included in the company's dividend
distribution.

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


OMNI ASIA: Creditors' Proofs of Debt Due Jan. 5
-----------------------------------------------
The creditors of Omni Asia Fund Ltd are required to file their
proofs of debt by Jan. 5, 2012, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Nov. 21, 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


OMNI ASIA: Creditors' Proofs of Debt Due Jan. 5
-----------------------------------------------
The creditors of Omni Asia Master Fund Ltd are required to file
their proofs of debt by Jan. 5, 2012, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Nov. 21, 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


OUH INVESTMENTS: Creditors' Proofs of Debt Due Jan. 5
-----------------------------------------------------
The creditors of OUH Investments Limited are required to file
their proofs of debt by Jan. 5, 2012, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Nov. 18, 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


PHOENIX INTERNATIONAL: Creditors' Proofs of Debt Due Jan. 5
-----------------------------------------------------------
The creditors of Phoenix International Holdings Limited are
required to file their proofs of debt by Jan. 5, 2012, to be
included in the company's dividend distribution.

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

The company's liquidator is:

        Ian D. Stokoe
        c/o Sarah Moxam
        Telephone: (345) 914 8634
        Facsimile: (345) 945 4237
        PO Box 258 Grand Cayman KY1-1104
        Cayman Islands


R-ONE AGEO: Commences Liquidation Proceedings
---------------------------------------------
On Nov. 22, 2011, the sole shareholder of R-One Ageo Holdings
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 4, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


R-ONE ITABASHI: Commences Liquidation Proceedings
-------------------------------------------------
On Nov. 22, 2011, the sole shareholder of R-One Itabashi Holdings
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 4, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


R-ONE NIIGATA: Commences Liquidation Proceedings
------------------------------------------------
On Nov. 22, 2011, the sole shareholder of R-One Niigata Holdings
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 4, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


SPARK INVESTMENT: Shareholder Receives Wind-Up Report
-----------------------------------------------------
The shareholder of Spark Investment Fund, Ltd. received on
Dec. 29, 2011, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company commenced liquidation proceedings on Nov. 23, 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


TCP ASIA: Commences Liquidation Proceedings
-------------------------------------------
On Nov. 17, 2011, the shareholders of TCP Asia Master Fund SPC,
Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 29, 2011, will be included in the company's dividend
distribution.

The company's liquidator is:

        Delta Group Limited
        c/o J.Aljadir
        Telephone: (345) 743 6626
        103 South Church St., 2nd Floor, Harbour Place
        PO Box 11820, George Town
        Grand Cayman KY1-1009
        Cayman Islands


TRIDENT MICROSYSTEMS (Far East): Files for Chapter 11
-----------------------------------------------------
Trident Microsystems, Inc. and its Cayman subsidiary, Trident
Microsystems (Far East) Ltd., have filed voluntary petitions
under Chapter 11 of the United States Bankruptcy Code in the
United States Bankruptcy Court for the District of Delaware.
Trident will shortly file for protection in the Cayman Islands as
well.

As part of the filing, Trident has filed a motion to approve the
bid procedures for the sale of its Set-Top-Box business
operations to Entropic Communications, Inc. pursuant to the asset
purchase agreement included with the motion.  Trident intends to
continue to operate all of its business lines in the ordinary
course and has ample liquidity to do so, while it completes the
Bankruptcy approval process regarding the sale of its Set-Top-Box
business to Entropic and explores strategic alternatives for its
remaining business units.

"Trident, like many of its competitors, has been undergoing rapid
changes which have hindered its ability to operate profitably,"
stated Dr. Bami Bastani, chief executive officer of Trident.   "A
combination of increased pricing pressures in our industry, lower
demand in consumer electronics, and slower than anticipated new
product adoption has contributed to increased operating losses,
a deterioration in liquidity and an erosion in equity values for
Trident."  Trident recently announced that it was exploring a
number of strategic alternatives, and this process led to the
contemplated sale of the Set-Top-Box business to Entropic, a
leading provider of silicon and software solutions for the home
entertainment market.  Mr. Bastani added that "we are extremely
pleased with the opportunity that Entropic provides for not only
our Set-Top-Box business, but also our key suppliers and vendors,
customers and our dedicated employees throughout the world."
This transaction has been approved by the Boards of Directors of
Trident and Entropic.  The sale of the Set-Top-Box business to
Entropic will be subject to a bidding process and approval by the
Bankruptcy Court and the Cayman court, and it is expected that
the sale will close in late February 2012.

Trident also announced that it has entered into a license
agreement with RDA Technologies, Ltd., pursuant to which it
granted a non-exclusive license to its SX-5 SOC product for the
television market.  Under the license agreement, Trident has
received an upfront fee of US$7.5 million and expects to receive
an additional US$8.5 million in the near term.  As a result of
cost cutting efforts, the RDA license agreement, and the receipt
of funds from the sale of its facility in China, the Company
believes its cash balance as of Dec. 31, 2011 provides adequate
liquidity to continue to meet customer and vendor requirements
while the marketing efforts for its key assets continues.

During the interim, Trident expects that Chapter 11 protection
will enable the Company to conduct its business operations in the
ordinary course.  To that end, the Company is seeking approval
from the court for a variety of First Day and other initial
motions, including requests to make wage and benefit payments to
employees and continuation of the Company's global cash
management system.

None of Trident's other operating subsidiaries are subject to the
Chapter 11 proceedings, and they will continue to operate in the
ordinary course of their businesses.


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


RBCJ: Incurs JM$840-Mil. Loss in Sept. Quarter on Bad Debt
----------------------------------------------------------
Jamaica Observer reports that Bank of Jamaica data revealed that
RBC Royal Bank Jamaica incurred another JM$840 million due to bad
debt during the three-month period ended Sept. 30, 2011.

All the loss may not go straight to RBCJ's bottom line, as it
reflects inappropriate losses of JM$2.5 billion up to Sept. 30,
2011, compared to a JM$1.68 billion loss as at June 30, 2011,
according to Jamaica Observer.  Previously, the report notes that
the bank said the loss reflected the difference between
operational profit reported under International Financial
Reporting Standards (IFRS) and BOJ loan loss reserves booked.

Jamaica Observer discloses that BOJ report revealed that RBC
Royal Bank Jamaica's loan loss provision as per IFRS requirement
was reduced from JM$2.05 billion at the period ending June 30,
2011 to JM$1.5 billion at the end of September, while the
prudential reserves, required by the BOJ, remained at JM$1.56
billion, bringing the total provision to JM$3.41 billion.

Three months ago, RBCJ said that "in the context of continued
economic challenges facing our clients, the results of RBC Royal
Bank (Jamaica) Ltd are impacted by reduced loan growth and an
increase in provision for credit losses," Jamaica Observer notes.

The report says that RBCJ racked up JM$1.25 billion in losses
during the 19 months to Oct. 31, 2010, before a JM$383-million
tax credit reduced the net loss to JM$864 million.  Jamaica
Observer relates that the bank also incurred a JM$2.66-billion
impairment loss on loans and advances during the review period
(compared to JM$175 million during the year ending March 31,
2009) dragged the company into a huge loss position.

RBC Royal Bank Jamaica's total loans net of provision for credit
losses fell from JM$38.1 billion to JM$31.2 billion at end-
October 2010, according to its audited financial statements, and
stood at JM$31.15 billion as at Dec. 31, 2010, before falling to
JM$27.5 billion at the end of March 2011, according to BOJ data,
Jamaica Observer adds.


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


VITRO SAB: Quickly Seeks to Set Aside Stay Disrupting Plan
----------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Vitro SAB de CV wasted no time in asking the U.S.
Circuit Court of Appeals in New Orleans to set aside an
injunction issued less than a day before.

Mr. Rochelle notes that the appeals court's temporary stay has
the effect of telling non-bankruptcy Vitro subsidiaries to take
no action helping the parent win approval of its bankruptcy
reorganization plan in a court in Mexico.  Setting aside the stay
will prevent bondholders from going forward with a state court
hearing on Jan. 6 where the result may be detrimental to Vitro's
reorganization efforts in Mexico.

The report relates that on Dec. 29, the appeals court temporarily
halted implementation of the lower courts' decisions "to give the
court more time to consider the motion for a stay more
carefully."  In papers filed Dec. 30, Vitro argued the temporary
stay doesn't preserve the status quo.  Rather, Vitro contends the
stay changes the status quo by allowing bondholders with some of
the $1.2 billion in defaulted debt to hold another hearing on
Jan. 6 in a state court in New York.  At the hearing later this
week, the bondholders will be asking the New York judge to
continue and expand an injunction telling the subsidiaries to
block the parent from completing the Mexican bankruptcy
reorganization.

Mr. Rochelle discloses that the state court suit is now the focus
of disputes that quickly ascended from the bankruptcy court to
the circuit court.  The bankruptcy judge in Dallas ruled that the
state court's order violated the so-called automatic stay in
bankruptcy because it interfered with a property interest of the
Vitro parent.  When a federal district judge last week refused to
halt enforcement of the bankruptcy court order, the bondholders
sought a stay from the appeals court in New Orleans.  The circuit
court granted a temporary stay on Dec. 29.

Vitro argued in papers filed in the circuit court on Dec. 30 that
stopping the bankruptcy court order is "nonsensical."  It would
require Vitro subsidiaries to breach a contract they signed
before bankruptcy when they agreed to support the parent's
reorganization plan.

                       About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Vitro is the largest manufacturer of glass containers and flat
glass in Mexico, with consolidated net sales in 2009 of MXN23,991
million (US$1.837 billion).

Vitro defaulted on its debt in 2009, and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in
debt from bondholders.  The tender offer would be consummated
with a bankruptcy filing in Mexico and Chapter 15 filing in the
United States.  Vitro said noteholders would recover as much as
73% by exchanging existing debt for cash, new debt or convertible
bonds.

          Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for
Civil and Labor Matters for the State of Nuevo Leon, commencing
its voluntary concurso mercantil proceedings -- the Mexican
equivalent of a prepackaged Chapter 11 reorganization.  Vitro SAB
also commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push
through a plan to buy back or swap US$1.2 billion in debt from
bondholders based on the vote of US$1.9 billion of intercompany
debt when third-party creditors were opposed.  Vitro as a result
dismissed the first Chapter 15 petition following the ruling by
the Mexican court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-
11754).

The Vitro parent told the Mexico stock exchange that it received
sufficient acceptances of its reorganization pending in a court
in Monterrey.  The approval vote was evidently obtained using
claims of affiliates.  The bondholders are opposing the Mexican
reorganization plan because shareholders could retain ownership
while bondholders aren't being paid in full.  Bondholders
previously cited an "independent analyst" who estimated the
Mexican plan was worth 49% to 54% of creditors' claims.

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

                      Chapter 11 Proceedings

A group of noteholders opposed the exchange -- namely Knighthead
Master Fund, L.P., Lord Abbett Bond-Debenture Fund, Inc.,
Davidson Kempner Distressed Opportunities Fund LP, and Brookville
Horizons Fund, L.P.  Together, they held US$75 million, or
approximately 6% of the outstanding bond debt.  The Noteholder
group commenced involuntary bankruptcy cases under Chapter 11 of
the U.S. Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D.
Tex. Case No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise
in the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders, known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has
expressed concerns over the exchange offer.  The group says the
exchange offer exposes Noteholders who consent to potential
adverse consequences that have not been disclosed by Vitro.  The
group is represented by John Cunningham, Esq., and Richard
Kebrdle, Esq. at White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are
Vitro Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case
No.10-47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-
47473); Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-
47474); Super Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-
47475); Super Sky International, Inc. (Bankr. N.D. Tex. Case No.
10-47476); VVP Holdings, LLC (Bankr. N.D. Tex. Case No. 0-47477);
Amsilco Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478);
B.B.O. Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479);
Binswanger Glass Company (Bankr. N.D. Tex. Case No. 10-47480);
Crisa Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP
Finance Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP
Auto Glass, Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47484); and Vitro
Packaging, LLC (Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were
subject to the involuntary petitions into voluntary Chapter 11.
The Texas Court on April 21 denied involuntary petitions against
the eight U.S. subsidiaries that didn't consent to being in
Chapter 11.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC, is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah
Link Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
Dallas, Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP,
in New York, as counsel.  Blackstone Advisory Partners L.P.
serves as financial advisor to the Committee.

The U.S. Vitro companies sold their assets to American Glass
Enterprises LLC, an affiliate of Sun Capital Partners Inc., for
US$55 million.


VITRO SAB: U.S. Trustee Wants VAC Cases Converted to Chapter 7
--------------------------------------------------------------
William T. Neary, United States Trustee for Region 6, asks the
U.S. Bankruptcy Court for the Northern District of Texas to
convert the Chapter 11 cases of Vitro Asset Corp., et al., to
Chapter 7.

The Former Alleged Debtors are Vitro Asset Corp. (Lead Case No.
11-32600), Mukki LLC f/k/a Vitro America, LLC (Case No. 11-
32602), Tayo Inc f/k/a Super Sky Products, Inc. (Case No. 11-
32604), BarleySammy Inc. f/k/a Super Sky International (Case No.
11-32605), VVP Finance Corporation (Case No. 11-32611), VVP
Funding Corporation (Case No. 11-33161), and VVP Holdings, LLC
(Case No. 11-33565).

In support of his motion, the United States Trustee states that:

    1. The Debtors no longer generate any revenue because they
       have sold substantially all of their assets to American
       Glass Enterprises, LLC.

    2. Without revenue, the Debtors cannot reorganize.

    3. The Debtors have accrued $5,070,962 in postpetition
       liabilities, which diminishes estate assets.  These
       postpetition liabilities include over half a million in
       unpaid professional fees, which will continue to accrue so
       long as this case remains in chapter 11.

    4. The cases could be more efficiently liquidated by a
       Chapter 7 trustee.

                          About Vitro SAB

Headquartered in Monterrey, Mexico, Vitro, S.A.B. de C.V. (BMV:
VITROA; NYSE: VTO), through its two subsidiaries, Vitro Envases
Norteamerica, SA de C.V. and Vimexico, S.A. de C.V., is a global
glass producer, serving the construction and automotive glass
markets and glass containers needs of the food, beverage, wine,
liquor, cosmetics and pharmaceutical industries.

Vitro is the largest manufacturer of glass containers and flat
glass in Mexico, with consolidated net sales in 2009 of MXN23,991
million (US$1.837 billion).

Vitro defaulted on its debt in 2009, and sought to restructure
around US$1.5 billion in debt, including US$1.2 billion in notes.
Vitro launched an offer to buy back or swap US$1.2 billion in
debt from bondholders.  The tender offer would be consummated
with a bankruptcy filing in Mexico and Chapter 15 filing in the
United States.  Vitro said noteholders would recover as much as
73% by exchanging existing debt for cash, new debt or convertible
bonds.

          Concurso Mercantil & Chapter 15 Proceedings

Vitro SAB on Dec. 13, 2010, filed its voluntary petition for a
pre-packaged Concurso Plan in the Federal District Court for
Civil and Labor Matters for the State of Nuevo Leon, commencing
its voluntary concurso mercantil proceedings -- the Mexican
equivalent of a prepackaged Chapter 11 reorganization.  Vitro SAB
also commenced parallel proceedings under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-16619) in Manhattan
on Dec. 13, 2010, to seek U.S. recognition and deference to its
bankruptcy proceedings in Mexico.

Early in January 2011, the Mexican Court dismissed the Concurso
Mercantil proceedings.  The judge said Vitro couldn't push
through a plan to buy back or swap US$1.2 billion in debt from
bondholders based on the vote of US$1.9 billion of intercompany
debt when third-party creditors were opposed.  Vitro as a result
dismissed the first Chapter 15 petition following the ruling by
the Mexican court.

On April 12, 2011, an appellate court in Mexico reinstated the
reorganization.  Accordingly, Vitro SAB on April 14 re-filed a
petition for recognition of its Mexican reorganization in U.S.
Bankruptcy Court in Manhattan (Bankr. S.D.N.Y. Case No. 11-
11754).

The Vitro parent told the Mexico stock exchange that it received
sufficient acceptances of its reorganization pending in a court
in Monterrey.  The approval vote was evidently obtained using
claims of affiliates.  The bondholders are opposing the Mexican
reorganization plan because shareholders could retain ownership
while bondholders aren't being paid in full.  Bondholders
previously cited an "independent analyst" who estimated the
Mexican plan was worth 49% to 54% of creditors'
claims.

In the present Chapter 15 case, the Debtor seeks to block any
creditor suits in the U.S. pending the reorganization in Mexico.

                     Chapter 11 Proceedings

A group of noteholders opposed the exchange -- namely Knighthead
Master Fund, L.P., Lord Abbett Bond-Debenture Fund, Inc.,
Davidson Kempner Distressed Opportunities Fund LP, and Brookville
Horizons Fund, L.P.  Together, they held US$75 million, or
approximately 6% of the outstanding bond debt.  The Noteholder
group commenced involuntary bankruptcy cases under Chapter 11 of
the U.S. Bankruptcy Code against Vitro Asset Corp. (Bankr. N.D.
Tex. Case No. 10-47470) and 15 other affiliates on Nov. 17, 2010.

Vitro engaged Susman Godfrey, L.L.P. as U.S. special litigation
counsel to analyze the potential rights that Vitro may exercise
in the United States against the ad hoc group of dissident
bondholders and its advisors.

A larger group of noteholders, known as the Ad Hoc Group of Vitro
Noteholders -- comprised of holders, or investment advisors to
holders, which represent approximately US$650 million of the
Senior Notes due 2012, 2013 and 2017 issued by Vitro -- was not
among the Chapter 11 petitioners, although the group has
expressed concerns over the exchange offer.  The group says the
exchange offer exposes Noteholders who consent to potential
adverse consequences that have not been disclosed by Vitro.  The
group is represented by John Cunningham, Esq., and Richard
Kebrdle, Esq. at White & Case LLP.

The U.S. affiliates subject to the involuntary petitions are
Vitro Chemicals, Fibers & Mining, LLC (Bankr. N.D. Tex. Case
No.10-47472); Vitro America, LLC (Bankr. N.D. Tex. Case No. 10-
47473); Troper Services, Inc. (Bankr. N.D. Tex. Case No. 10-
47474); Super Sky Products, Inc. (Bankr. N.D. Tex. Case No. 10-
47475); Super Sky International, Inc. (Bankr. N.D. Tex. Case No.
10-47476); VVP Holdings, LLC (Bankr. N.D. Tex. Case No. 0-47477);
Amsilco Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47478);
B.B.O. Holdings, Inc. (Bankr. N.D. Tex. Case No. 10-47479);
Binswanger Glass Company (Bankr. N.D. Tex. Case No. 10-47480);
Crisa Corporation (Bankr. N.D. Tex. Case No. 10-47481); VVP
Finance Corporation (Bankr. N.D. Tex. Case No. 10-47482); VVP
Auto Glass, Inc. (Bankr. N.D. Tex. Case No. 10-47483); V-MX
Holdings, LLC (Bankr. N.D. Tex. Case No. 10-47484); and Vitro
Packaging, LLC (Bankr. N.D. Tex. Case No. 10-47485).

A bankruptcy judge in Fort Worth, Texas, denied involuntary
Chapter 11 petitions filed against four U.S. subsidiaries.  On
April 6, 2011, Vitro SAB agreed to put Vitro units -- Vitro
America LLC and three other U.S. subsidiaries -- that were
subject to the involuntary petitions into voluntary Chapter 11.
The Texas Court on April 21 denied involuntary petitions against
the eight U.S. subsidiaries that didn't consent to being in
Chapter 11.

Kurtzman Carson Consultants is the claims and notice agent to
Vitro America, et al.  Alvarez & Marsal North America LLC, is the
Debtors' operations and financial advisor.

The official committee of unsecured creditors appointed in the
Chapter 11 cases of Vitro America, et al., has selected Sarah
Link Schultz, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
Dallas, Texas, and Michael S. Stamer, Esq., Abid Qureshi, Esq.,
and Alexis Freeman, Esq., at Akin Gump Strauss Hauer & Feld LLP,
in New York, as counsel.  Blackstone Advisory Partners L.P.
serves as financial advisor to the Committee.

The U.S. Vitro companies sold their assets to American Glass
Enterprises LLC, an affiliate of Sun Capital Partners Inc., for
US$55 million.


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


HINDU CREDIT UNION: Depositors Pleads Government for Payment
------------------------------------------------------------
Trinidad and Tobago Newsday reports that Hindu Credit Union
depositors are pleading with Government to meet with them to
resolve the issue of payments.

Hindu Credit Union Depositors and Shareholders Group President
Robert Nandlal said this was the fourth Christmas since the
failed credit union was put into liquidation in 2009 and members
are still suffering, according to Trinidad and Tobago Newsday.

The report notes that Mr. Nandlal said that the Ministry of
Finance's "Offer of Relief" advisory was the same one that was
sent out seven months ago and nothing was done then.

"The advisory is saying stop all matters in court and stop all
disputes with the Commissioner of Co-operatives.  How are members
going to stop the matter to get their manner? If they had spoken
to us, we would have been able to resolve everything but they
have not," Trinidad and Tobago Newsday quoted Mr. Nandlal as
saying.

Mr. Nandlal also called on Prime Minister Kamla Persad-Bissessar
to intervene in the matter, the report adds.

                                About HCU

Hindu Credit Union Co-Operative Society Limited (HCU)
-- http://www.ourhcu.com/-- is headquartered in Borough,
Chaguanas, in Trinidad and Tobago.

                          *     *     *

The failed credit union was put into liquidation by the
government in 2009.  As reported in the Troubled Company
Reporter-Latin America on July 28, 2008, the High Court of
Trinidad and Tobago granted the government full control of Hindu
Credit as the company faces financial difficulties, leaving
depositors in limbo despite requests from lawyers.  In June 2008,
chartered accountants Ernst and Young inspected Hindu Credit's
books, accounts, and records after a public outcry and calls for
an internal audit.  Charles Mitchell, the Commissioner for Co-
Operative Development, represents Hindu Credit's depositors.


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


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

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, Ivy B. Magdadaro, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2012.  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 Peter A. Chapman at 240/629-3300.


                   * * * End of Transmission * * *