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                     L A T I N   A M E R I C A


           Wednesday, February 8, 2012, Vol. 13, No. 027



                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Former Exec Reveals Bank's Profits Faked


A R G E N T I N A

ALBALA SERVICIOS: Creditors' Proofs of Debt Due March 15
CLINICA CLAYPOLE: Asks for Bankruptcy Proceedings
DON PEDRO: Applied for Bankruptcy Protection
EPITECNICA SA: Creditors' Proofs of Debt Due March 2
FINCA NOYA: Creditors' Proofs of Debt Due March 15

N&GV SRL: Asks for Bankruptcy Proceedings
NEOPRINTING SRL: Creditors' Proofs of Debt Due March 2
SANATORIOS Y CLINICAS: Creditors' Proofs of Debt Due March 20
VISET SEGURIDAD: Creditors' Proofs of Debt Due Feb. 22
* ARGENTINA: IDB OKs 300MM to Improve Transport Infrastructure


C A Y M A N   I S L A N D S

AMERICAN PEGASUS: U.S. Court Recognizes Cayman Islands Proceeding
CAC CAPITAL: Shareholders Receive Wind-Up Report
CLINTON MULTISTRATEGY FUND: Shareholders Receive Wind-Up Report
CLINTON MULTISTRATEGY MASTER: Shareholders Receive Wind-Up Report
INVESTCORP WMG: Shareholders Receive Wind-Up Report

INVESTCORP WMG MASTER: Shareholders Receive Wind-Up Report
JEFFERIES FOUNDERS FUND: Shareholders Receive Wind-Up Report
JEFFERIES FOUNDERS MASTER: Shareholders Receive Wind-Up Report
MORAY COMPANY: Shareholder Receives Wind-Up Report
TECHINSPIRATIONS INC: Shareholder Receives Wind-Up Report


D O M I N I C A N   R E P U B L I C

* DOMINICAN REPUBLIC: IDB OKs US$130.0 Million Loan for Project


M E X I C O

INDUSTRIAS UNIDAS: Owner Makes Required US$13.8MM Contribution
VITRO SAB: Court Orders Conversion of VAC Cases to Chapter 7


P U E R T O   R I C O

FERRETERIA Y AGROCENTRO: Case Summary & Largest Unsec. Creditors


                            - - - - -


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


STANFORD INT'L: Former Exec Reveals Bank's Profits Faked
--------------------------------------------------------
Jamaica Observer reports that former Stanford Group Chief
Financial Officer James M. Davis told jurors that Robert Allen
Stanford helped fake profit numbers for Stanford International
Bank Limited and funnel millions of dollars of depositor funds to
a secret Swiss bank account used to pay for personal expenses,
bribes to regulators and employee bonuses.

Mr. Davis testified that Stanford International Bank never
reported having an unprofitable year because he and Mr. Stanford
worked together to fabricate figures for annual reports and other
documents, according to Jamaica Observer.

The report notes that prosecutors allege Mr. Stanford
masterminded the Ponzi scheme.

Mr. Davis, the report relates, said Mr. Stanford used the money
for "real estate purchases, paying for personal expenses,
beginning another company."  Jamaica Observer relays that Mr.
Davis said Mr. Stanford then had him make transfers ranging from
US$500,000 to US$10 million from the Swiss account to a personal
account the financier had in Houston.

The report notes that Mr. Davis testified some of the money in
the Swiss account was also transferred to an account Stanford had
in Antigua to pay for bribes to the top regulator on the island
nation who oversaw the financier's bank.  Some of the funds from
the secret account were also used to pay employee bonuses, he
added, the report says.

               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 United States 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, 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 an US$8 billion
Certificate of Deposit program.

A criminal case was pursued against him in June 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, U.S. District
Court, Southern District of Texas (Houston). The civil case is
SEC v. Stanford International Bank, 3:09-cv-00298-N, U.S.
District Court, Northern District of Texas (Dallas).


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ALBALA SERVICIOS: Creditors' Proofs of Debt Due March 15
--------------------------------------------------------
Hector Eduardo Palma, the court-appointed trustee for Albala
Servicios Electricos SRL's bankruptcy proceedings, will be
verifying creditors' proofs of claim until March 15, 2012.

Mr. Palma 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.
2, 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:

         Hector Eduardo Palma
         Teniente General Juan Domingo Peron 1479
         Argentina


CLINICA CLAYPOLE: Asks for Bankruptcy Proceedings
-------------------------------------------------
Clinica Claypole SA asked for bankruptcy proceedings by default.


DON PEDRO: Applied for Bankruptcy Protection
--------------------------------------------
Don Pedro Group SRL applied for bankruptcy protection.

The company has defaulted on its payments last March 23.


EPITECNICA SA: Creditors' Proofs of Debt Due March 2
----------------------------------------------------
Juan Jose Romanelli, the court-appointed trustee for Epitecnica
SA's bankruptcy proceedings, will be verifying creditors' proofs
of claim until March 2, 2012.

Mr. Romanelli will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk
No. 17, 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:

         Juan Jose Romanelli
         Gandara 2700
         Argentina


FINCA NOYA: Creditors' Proofs of Debt Due March 15
--------------------------------------------------
Alicia Elisa Tambone, the court-appointed trustee for Finca Noya
SA's bankruptcy proceedings, will be verifying creditors' proofs
of claim until March 15, 2012.

Ms. Tambone will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 1 in Buenos Aires, with the assistance of Clerk
No. 2, 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:

         Alicia Elisa Tambone
         Avenida La Plata 213
         Argentina


N&GV SRL: Asks for Bankruptcy Proceedings
-----------------------------------------
N&GV SRL asked for bankruptcy proceedings by default


NEOPRINTING SRL: Creditors' Proofs of Debt Due March 2
------------------------------------------------------
Olga Noemi Pardo, the court-appointed trustee for Neoprinting
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until March 2, 2012.

Ms. Pardo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 9 in Buenos Aires, with the assistance of Clerk No.
18, 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:

         Olga Noemi Pardo
         Avenida de Mayo 1370
         Argentina


SANATORIOS Y CLINICAS: Creditors' Proofs of Debt Due March 20
-------------------------------------------------------------
Ruben Posniak, the court-appointed trustee for Sanatorios y
Clinicas Asociados SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 20, 2012.

Mr. Posniak will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk
No. 10, 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:

         Ruben Posniak
         Avenida Medrano 37
         Argentina


VISET SEGURIDAD: Creditors' Proofs of Debt Due Feb. 22
------------------------------------------------------
Mariana Nadales, the court-appointed trustee for Viset Seguridad
Integral SRL's bankruptcy proceedings, will be verifying
creditors' proofs of claim until Feb. 22, 2012.

Ms. Nadales will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 18 in Buenos Aires, with the assistance of Clerk
No. 36, 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:

         Mariana Nadales
         Hipolito Yrigoyen 1349
         Argentina


* ARGENTINA: IDB OKs 300MM to Improve Transport Infrastructure
--------------------------------------------------------------
The Inter-American Development Bank approved a US$300 million
loan to finance the expansion, rehabilitation and improvement of
roads in Argentina's Norte Grande region, connecting major
production areas with local and foreign markets.  The program
aims to improve the accessibility, efficiency and safety on
priority corridors of the National Road Network as well as feeder
roads of the Provincial Road Network.

Among the program's goals are to increase the Norte Grande's
share of the country's total exports, reduce the number of road
accident deaths, and cut travel times and vehicle operating
costs.

"With this operation, the IDB continues to support Argentina's
efforts to close the development gap between the Norte Grande
region and the rest of the country," said Fernando Orduz, IDB
project team leader.

The Norte Grande region comprises the provinces of Catamarca,
Corrientes, Chaco, Formosa, Jujuy, Misiones, Tucuman, Salta and
Santiago del Estero.  It accounts for one third of the Argentine
mainland and is home to approximately 8.3 million people, or
21 percent of the total population.

The new program was preceded by the Norte Grande Road
Infrastructure Program, which was supported by a US$1.2 billion
IDB loan approved in February 2007.

The US$300 million IDB loan is for a 25-year term, with a 5-year
grace period and a variable interest rate based on LIBOR.  Local
counterpart financing will contribute US$33.5 million to the
program.


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AMERICAN PEGASUS: U.S. Court Recognizes Cayman Islands Proceeding
-----------------------------------------------------------------
The Hon. Thomas E. Carlson of the U.S. Bankruptcy Court for
Northern District of California granted American Pegasus SPC
recognition of foreign proceeding under Chapter 15 of the
Bankruptcy Code.

The Court also ordered that the Cayman Islands proceeding is
granted recognition as a foreign main proceeding pursuant to
Section 1517(b)(1) of the Bankruptcy Code.

The Court further said that all relief afforded a foreign main
proceeding automatically upon recognition pursuant to Section
1520 of the Bankruptcy Code is granted.

Sections 361 and 362 of the Bankruptcy Code apply with respect to
American Pegasus SPC and all of its property within the
territorial jurisdiction of the United States.

Joint Official Liquidators Stuart Sybersma and Michael Pearson
are approved as foreign representatives of the Debtor.  They will
have exclusive authority to administer its assets and affairs
including, without limitation, any transfer of or withdrawals
from, or access to the records of, any bank accounts maintained
by American Pegasus SPC.

                   About American Pegasus SPC

American Pegasus SPC filed for bankruptcy (Chapter 15 N.D. Calif.
Case No. 11-34429) on Dec. 13, 2011.  Bankruptcy Judge Thomas E.
Carlson presides over the case.

Joint Official Liquidators Stuart Sybersma and Michael Pearson,
foreign representatives of American Pegasus SPC, estimated in the
Chapter 15 petition that the company has assets of US$10,000,001
to US$50,000,000 and debts of US$100,000,001 to US$500,000,000.
Randy Michelson, Esq., at Michelson Law Group represents Messrs.
Sybersma and Pearson.


CAC CAPITAL: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of CAC Capital Holdings General Partner Limited
received on Jan. 26, 2012, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Tony Tuo Zheng
         c/o Maples and Calder, Attorneys-at-law
         PO Box 309, Ugland House
         Grand Cayman KY1-1104
         Cayman Islands


CLINTON MULTISTRATEGY FUND: Shareholders Receive Wind-Up Report
---------------------------------------------------------------
The shareholders of Clinton Multistrategy Fund, Ltd received on
Jan. 19, 2012, 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 House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


CLINTON MULTISTRATEGY MASTER: Shareholders Receive Wind-Up Report
-----------------------------------------------------------------
The shareholders of Clinton Multistrategy Master Fund, Ltd.
received on Jan. 19, 2012, 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 House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


INVESTCORP WMG: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Investcorp WMG Asia Fund Limited received on
Jan. 20, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Paget-Brown Trust Company Ltd.
         c/o Evania Ebanks
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         Boundary Hall, Cricket Square
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


INVESTCORP WMG MASTER: Shareholders Receive Wind-Up Report
----------------------------------------------------------
The shareholders of Investcorp WMG Asia Master Fund Limited
received on Jan. 20, 2012, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Paget-Brown Trust Company Ltd.
         c/o Evania Ebanks
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         Boundary Hall, Cricket Square
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


JEFFERIES FOUNDERS FUND: Shareholders Receive Wind-Up Report
------------------------------------------------------------
The shareholders of Jefferies Founders Fund (Cayman), Ltd.
received on Jan. 21, 2012, 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 House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


JEFFERIES FOUNDERS MASTER: Shareholders Receive Wind-Up Report
--------------------------------------------------------------
The shareholders of Jefferies Founders Master Fund, Ltd. received
on Jan. 21, 2012, 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 House, 2nd Floor
         P.O. Box 1344 Grand Cayman KY1-1108
         Cayman Islands


MORAY COMPANY: Shareholder Receives Wind-Up Report
--------------------------------------------------
The shareholder of Moray Company Limited received on Jan. 10,
2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Lion International Management Limited
         Craigmuir Chambers
         P.O. Box 71, Road Town Tortola VG1110
         British Virgin Islands


TECHINSPIRATIONS INC: Shareholder Receives Wind-Up Report
---------------------------------------------------------
The shareholder of Techinspirations Inc (Cayman) received on
Jan. 17, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Commerce Corporate Services Limited
         Telephone: 949 8666
         Facsimile: 949 0626
         PO Box 694 Grand Cayman
         Cayman Islands


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D O M I N I C A N   R E P U B L I C
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* DOMINICAN REPUBLIC: IDB OKs US$130.0 Million Loan for Project
---------------------------------------------------------------
Dominican Today reports that the Associated Press said the
Inter-American Development Bank approved a US$130.0 million loan
to the Dominican company, Vias Concesionadas, to finance the
reconstruction, construction, operation and maintenance of a
linked network of toll roads known as Viadom.

The loan will help finance the reconstruction of 199 kilometers
of highways, as well as the construction of 68 additional
kilometers, said the IDB in a statement obtained by Dominican
Today.

The report notes that Viadom link Santo Domingo with Santiago and
the Puerto Plata resort region, and the operation also includes
the construction of a by-pass highway in Santiago and an access
road to connect Santo Domingo with the southern cities of San
Cristobal and Bani.

Dominican Today discloses that the project is expected to reduce
the time it takes from Santo Domingo to Santiago and between
Santo Domingo and Puerto Plata.


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INDUSTRIAS UNIDAS: Owner Makes Required US$13.8MM Contribution
--------------------------------------------------------------
Industrias Unidas, S.A. de C.V. confirms that Carlos Peralta, the
controlling equity owner of the Company, has made the
US$13,888,000 in required cash equity contributions to date.

Pursuant to the terms of the Company's indenture, the next cash
equity contribution of US$5,555,000 is required to be made on
March 7, 2012, and Mr. Peralta intends to make the equity
contribution called for on that date.  The next interest payment
on IUSA's Series A and Series B Notes is expected to be made in
cash on Feb. 15, 2012 as provided in the indenture.

In addition, after discussions with certain Series A Noteholders,
the Company would like to clarify its intentions with respect to
the use of proceeds from any future sale of its U.S. assets.  The
Company will apply 100% of the net proceeds of any future
material sale of its U.S. assets exclusively to redeem or
repurchase Series A Notes or to acquire additional U.S. assets in
accordance with the terms of the indenture.

                    About Industrias Unidas

Industrias Unidas is a Mexican diversified industrial group,
manufacturing a wide range of copper-based and electrical
products for the housing and electrical power sectors mainly in
Mexico and the U.S.  As of September 2009, last twelve month
revenues were about US$1.3 billion.

                           *     *     *

As of November 22, 2010, the company continues to carry Moody's
"Caa3" long-term rating.


VITRO SAB: Court Orders Conversion of VAC Cases to Chapter 7
------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas has
granted the motion of William T. Neary, U.S. Trustee for Region
6, for the conversion of Former Alleged Debtors 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. 11-32606), to Chapter 7 effective
Jan. 20, 2012.

The Court also ordered that after conversion, the cases listed
above are no longer to be jointly administered under Vitro Asset
Corp. Case No. 11-32600, but will be jointly administered under
Case No. 11-32602 for procedural purposes only, with any proofs
of claim filed in the proper member case.

As reported in the Troubled Company Reporter on Jan. 4, 2012,
William T. Neary, United States Trustee for Region 6, asked the
Bankruptcy Court to convert the Chapter 11 cases of the Former
Alleged Debtors to Chapter 7.

In support of his motion, the United States Trustee stated 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 US$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.


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FERRETERIA Y AGROCENTRO: Case Summary & Largest Unsec. Creditors
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Debtor: Ferreteria Y Agrocentro El Siete, Inc.
        RR-3 Box 10168
        Toa Alta, PR 00953

Bankruptcy Case No.: 12-00756

Chapter 11 Petition Date: February 1, 2012

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  VICTOR GRATACOS-DIAZ LEGAL OFFICE
                  P.O. Box 7571
                  Caguas, PR 00726
                  Tel: (787) 746-4772
                  E-mail: bankruptcy@gratacoslaw.com

Scheduled Assets: US$1,803,800

Scheduled Debts: US$1,921,486

A list of the Company's 20 largest unsecured creditors filed
together with the petition is available for free at
http://bankrupt.com/misc/prb12-00756.pdf

The petition was signed by Jose L. Rodriguez Cruz, president.


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

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

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


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

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick,
Maryland USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine
T. Fernandez, Valerie U. Pascual, 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 Chapman at 240/629-3300.


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