TCRLA_Public/120315.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, March 15, 2012, Vol. 13, No. 054


                            Headlines



B R A Z I L

FIDC BCSUL: Moody's Places 'Ba1' Local Currency on Review


C A Y M A N   I S L A N D S

BLODGETT ASSURANCE: Shareholders' Final Meeting Set for March 20
BOAT CAPITAL: Shareholders' Final Meeting Set for April 4
BOW CAPITAL: Shareholders' Final Meeting Set for April 4
COREVEST MANAGEMENT: Shareholder Receives Wind-Up Report
COREVEST PARTNERS: Shareholders' Final Meeting Set for March 20

CTC OPPORTUNITIES: Shareholders' Final Meeting Set for March 28
DENALI HEDGED: Shareholders' Final Meeting Set for March 30
EEA CAYMAN: Shareholders' Final Meeting Set for March 30
EBB CAPITAL: Shareholders' Final Meeting Set for April 4
ISQUARE OFFSHORE: Shareholders' Final Meeting Set for April 1

NAUTICAL CAPITAL: Shareholders' Final Meeting Set for April 4
RUDDER CAPITAL: Shareholders' Final Meeting Set for April 4
STREAM CAPITAL: Shareholders' Final Meeting Set for April 4
VARIANT CAPITAL: Shareholders' Final Meeting Set for March 28
WATERFALL CAPITAL: Shareholders' Final Meeting Set for April 4


M E X I C O

ALMACENADORA MERCADER: Moody's Withdraws 'B1' Issuer Ratings


P U E R T O   R I C O

VITRO SAB: April 9 Trial on Enforcement of Plan in U.S.


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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B R A Z I L
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FIDC BCSUL: Moody's Places 'Ba1' Local Currency on Review
---------------------------------------------------------
Moody's America Latina has placed on review the Aa2.br (sf)
(Brazilian National Scale) and the Ba1 (sf) ratings (Global Scale,
Local Currency) of the senior shares of the fifth series (Series
2009-1) issued by FIDC BCSul Verax Credito Consignado II (FIDC
BCSUL or the issuer), a securitized transaction backed by a pool
of payroll deducted loans originated by Banco Cruzeiro do Sul S.A.
(the bank or Cruzeiro do Sul).

The issuer's shares are backed by the cash flows arising from
repayment of personal loans extended by the bank solely to (i)
active government employees at the federal, state, and municipal
levels, and (ii) retirees and pensioners covered by the Regime
Geral de Previdencia Social (RGPS) pension system, which in turn
is managed by the INSS (Instituto Nacional do Seguro Social).

Ratings Rationale

The review for possible downgrade is prompted mainly by i.) higher
credit losses than original estimates and ii.) concerns over the
adequate provisioning of the personal loans. It is also based on
concerns about the deteriorating credit quality of the bank, whose
ratings are currently on review for possible downgrade.

In monitoring the performance of the transaction, Moody's
considers monthly increase in provisioning, repurchases,
substitutions and sales of defaulted credit rights to third
parties. The resulting monthly credit loss estimate is reported in
the quarterly monitoring reports (and referred to as the
annualized loss rate proxy).

Moody's notes that the historical losses for this transaction have
been higher than for comparable transactions.

In addition, recent performance has been volatile given the
release of provisions, particularly provisions related to highly
delinquent loans (91 days and above).

According to data provided by Verax, the manager of the
transaction, Moody's has noted instances in which a significant
number of delinquent loans classified in arrear buckets "E" (91 to
120 days past due) and arrears bucket "F" (121 to 150 days past
due) were re-classified as "D" (61 to 90 days past due) following
the sale of one or more past due installments of those loans to
third parties outside of the fund.

The sale of those installments appears to have triggered a
reclassification of the future installments of the outstanding
loans.

Furthermore, Moody's views the rating of Brazilian consigned loan
securitizations like this one as linked to some degree to the
rating of Banco Cruzeiro do Sul (Bank Financial Strength Rating of
D on review for possible downgrade; Long Term Bank Deposit Rating
of Ba3 Global Scale, Local Currency rating on review for possible
downgrade) sponsoring the deal. Moody's view is based on the
commingling of the securitized flows with collections belonging to
the originator and operational and legal issues that could make it
difficult to transfer servicing to an alternate servicer.

As the primary servicer of the transaction, Banco Cruzeiro do Sul
receives cash payments from the jurisdictions and then proceeds to
reconcile the received payments to determine which funds are to be
transferred to the segregated bank account of the FIDC, and which
funds it will retain for consigned loans that have not been sold
and remain on its own balance sheet. In the case of a financial
failure of the originator, however, cash could become trapped in
the estate of the originator until the regulators or the judicial
system sorts out what are the cash flows that belong to the
securitization.


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C A Y M A N   I S L A N D S
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BLODGETT ASSURANCE: Shareholders' Final Meeting Set for March 20
----------------------------------------------------------------
The shareholders of Blodgett Assurance Company, Ltd. will hold
their final meeting on March 20, 2012, 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:

         Marsh Management Services Cayman Ltd.
         c/o Pierre Amparado
         P.O. Box 1051 Governors Square
         Bld 4, 2nd Floor
         23 Lime Tree Bay Avenue
         Grand Cayman KY1-1102
         Cayman Islands
         Telephone: (345) 949 7988
         Facsimile: (345) 949 7849


BOAT CAPITAL: Shareholders' Final Meeting Set for April 4
---------------------------------------------------------
The shareholders of Boat Capital LDC will hold their final meeting
on April 4, 2012, at 12:00 noon, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


BOW CAPITAL: Shareholders' Final Meeting Set for April 4
--------------------------------------------------------
The shareholders of Bow Capital LDC will hold their final meeting
on April 4, 2012, 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:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


COREVEST MANAGEMENT: Shareholder Receives Wind-Up Report
--------------------------------------------------------
The shareholder of Corevest Management Limited received on
March 7, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877


COREVEST PARTNERS: Shareholders' Final Meeting Set for March 20
---------------------------------------------------------------
The shareholders of Corevest Partners (Intl) Limited will hold
their final meeting on March 20, 2012, at 8:00 p.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 815-1861
         Facsimile: (345) 949-9877


CTC OPPORTUNITIES: Shareholders' Final Meeting Set for March 28
---------------------------------------------------------------
The shareholders of CTC Opportunities Master Fund Ltd. will hold
their final meeting on March 28, 2012, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Andrew Hall
         440 S. LaSalle Street, 4th Floor
         Chicago
         IL 60605
         U.S.A.


DENALI HEDGED: Shareholders' Final Meeting Set for March 30
-----------------------------------------------------------
The shareholders of Denali Hedged U.S. Equity Fund Ltd. will hold
their final meeting on March 30, 2012, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

         Admiral Administration Ltd.
         Admiral Financial Center
         90 Fort Street
         PO Box 32021 Grand Cayman, KY1-1208
         Cayman Islands


EEA CAYMAN: Shareholders' Final Meeting Set for March 30
--------------------------------------------------------
The shareholders of EEA Cayman Limited will hold their final
meeting on March 30, 2012, 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


EBB CAPITAL: Shareholders' Final Meeting Set for April 4
--------------------------------------------------------
The shareholders of EBB Capital LDC will hold their final meeting
on April 4, 2012, 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:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


ISQUARE OFFSHORE: Shareholders' Final Meeting Set for April 1
-------------------------------------------------------------
The shareholders of Isquare Offshore Fund, Ltd. will hold their
final meeting on April 1, 2012, 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:

         Peter Anderson
         c/o Omar Grant
         Telephone: (345) 949-7576
         Facsimile: (345) 949-8295
         P.O. Box 897 Windward 1
         Regatta Office Park
         Grand Cayman KY1-1103
         Cayman Islands


NAUTICAL CAPITAL: Shareholders' Final Meeting Set for April 4
-------------------------------------------------------------
The shareholders of Nautical Capital LDC will hold their final
meeting on April 4, 2012, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


RUDDER CAPITAL: Shareholders' Final Meeting Set for April 4
-----------------------------------------------------------
The shareholders of Rudder Capital LDC will hold their final
meeting on April 4, 2012, 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:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


STREAM CAPITAL: Shareholders' Final Meeting Set for April 4
-----------------------------------------------------------
The shareholders of Stream Capital LDC will hold their final
meeting on April 4, 2012, at 11:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


VARIANT CAPITAL: Shareholders' Final Meeting Set for March 28
-------------------------------------------------------------
The shareholders of Variant Capital Partners Offshore Ltd. will
hold their final meeting on March 28, 2012, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Brian Harris
         Variant Capital, LP
         2659 Townsgate Road, Suite 119
         Westlake Village
         CA 91361
         USA


WATERFALL CAPITAL: Shareholders' Final Meeting Set for April 4
--------------------------------------------------------------
The shareholders of Waterfall Capital LDC will hold their final
meeting on April 4, 2012, at 11:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Essa Zainal
         c/o Patricia Tricarico
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


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M E X I C O
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ALMACENADORA MERCADER: Moody's Withdraws 'B1' Issuer Ratings
------------------------------------------------------------
Moody's Investors Service has withdrawn Almacenadora Mercader,
S.A.'s long and short term local currency issuer ratings of B1 and
Not Prime. Also, Moody's de Mexico has withdrawn Almer's long and
short National Scale issuer ratings of Baa2.mx and MX-3. The
outlook on all ratings before the withdrawal was stable.

Ratings Rationale

Moody's has withdrawn the rating for its own business reasons.

The last rating action on Almer was on June 3, 2010, when Moody's
upgraded the general deposit warehouse's National Scale issuer
rating to Baa2.mx, form Baa3.mx.

The following Almer ratings were withdrawn:

   -- Long term local currency issuer rating of B1

   -- Short term local currency issuer rating of Not Prime

   -- Long term National Scale issuer rating of Baa2.mx

   -- Short term National Scale issuer rating of MX-3



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P U E R T O   R I C O
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VITRO SAB: April 9 Trial on Enforcement of Plan in U.S.
-------------------------------------------------------
Bill Rochelle, the bankruptcy columnist for Bloomberg News,
reports that Vitro SAB de CV will learn after a trial beginning
April 9 in Dallas whether the bankruptcy reorganization approved
by a court in Mexico will be enforced in the U.S.  If it's not
enforced in the U.S., bondholders may be able to frustrate the
reorganization by seizing assets in the U.S. or glomming payments
from U.S. customers headed for Mexico.

The report relates that before the April trial, U.S. Bankruptcy
Judge Harlin "Cooter" Hale is stopping holders of US$1.2 billion
in defaulted bonds from collecting judgments or seizing assets.
Judge Hale is allowing bondholders to continue lawsuits in the
U.S. "to reduce their claims to judgment."

According to the report, until the trial is concluded, Judge Hale
told the Vitro companies they may "only operate in the ordinary
course" and are prohibited "from moving assets or diverting
business opportunities."

Judge Hale made his four-page ruling March 12 following a March 5
hearing where Vitro was seeking enforcement of the Mexican
reorganization and an injunction against creditor actions in the
U.S. Hale declined to make a final ruling March 12, saying he will
issue a decision at the end of the trial to begin April 9 and
consume 24 hours spread over the week.

The suit in bankruptcy court to enjoin actions by the bondholders
is Vitro SAB de CV v. ACP Master Ltd. (In re Vitro SAB de CV),
12-03027, U.S. Bankruptcy Court, Northern District of Texas
(Dallas). The bondholders' appeal in the circuit court is Ad Hoc
Group of Vitro Noteholders v. Vitro SAB de CV (In re Vitro SAB de
CV), 11-11239, 5th U.S. Circuit Court of Appeals (New Orleans).
The appeal in district court was In re Vitro SAB de CV, 11-3554,
U.S. District Court, Northern District of Texas (Dallas).

                          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.  But an appellate court in Mexico
reinstated the reorganization in April 2011.  Following the
reinstatement, Vitro SAB on April 14, 2011, 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 received sufficient acceptances of its
reorganization by using the US$1.9 billion in debt owing to
subsidiaries to vote down opposition by bondholders.  The holders
of US$1.2 billion in defaulted bonds opposed the Mexican
reorganization plan because shareholders could retain ownership
while bondholders aren't being paid in full.

Vitro announced in March 2012 that it has implemented the
reorganization plan approved by a judge in Monterrey, Mexico.

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.

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.

U.S. subsidiaries of Vitro SAB are having their cases converted
to liquidations in Chapter 7, court records in January 2012 show.
In December, the U.S. Trustee in Dallas filed a motion to convert
the subsidiaries' cases to liquidations in Chapter 7.  The
Justice Department's bankruptcy watchdog said US$5.1 million in
bills were run up in bankruptcy and hadn't been paid.


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* 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 Chapman at 240/629-3300.


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