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

              Thursday, June 14, 2012, Vol. 13, No. 117


                            Headlines



A R G E N T I N A

BAUGRUPPE SRL: Creditors' Proofs of Debt Due July 31
FEBRA PETROL: Creditors' Proofs of Debt Due July 13
SERVICIOS INTEGRALES: Creditors' Proofs of Debt Due July 2
WALFAC SRL: Creditors' Proofs of Debt Due June 28


B A R B U D A

REDJET: GAIA Blocks Last Flight Out of Barbados


B E R M U D A

ELBOW BEACH: Closes on-Site Laundry Facilities, Cuts 7 Jobs


C A Y M A N   I S L A N D S

ATWATER CAPITAL: Creditors' Proofs of Debt Due June 27
ATWATER CAPITAL OFFSHORE: Creditors' Proofs of Debt Due June 27
AVENGER INVESTMENTS: Creditors' Proofs of Debt Due July 5
BLACKROCK ASIAN: Creditors' Proofs of Debt Due July 9
CHATER ASIA-PACIFIC: Creditors' Proofs of Debt Due July 5

CINQUEDITA LTD: Creditors' Proofs of Debt Due July 3
ELISE LIMITED: Creditors' Proofs of Debt Due July 5
LIM AIS: Creditors' Proofs of Debt Due July 5
PUBBLICITA SECONDA: Creditors' Proofs of Debt Due July 3
TOURMALET PARTNERS: Creditors' Proofs of Debt Due June 26


J A M A I C A

KINGSTON YMCA: Struggles With High Overheads, Seeks to Raise $5MM
PEGASUS HOTEL: Incurs Huge Losses, Delists From Stock Exchange


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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A R G E N T I N A
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BAUGRUPPE SRL: Creditors' Proofs of Debt Due July 31
----------------------------------------------------
Susana Haydee Vacchelli, the court-appointed trustee for
Baugruppe SRL's bankruptcy proceedings, will be verifying
creditors' proofs of claim until July 31, 2012.

Ms. Vacchelli will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 23 in Buenos Aires, with the assistance of Clerk
No. 45, 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.


FEBRA PETROL: Creditors' Proofs of Debt Due July 13
---------------------------------------------------
Elizabeth Maria Teresa Zanaboni, the court-appointed trustee for
Febra Petrol SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until July 13, 2012.

Ms. Zanaboni will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 22 in Buenos Aires, with the assistance of Clerk
No. 47, 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:

         Elizabeth Maria Teresa Zanaboni
         Honorio Pueyrredon 1246
         Argentina


SERVICIOS INTEGRALES: Creditors' Proofs of Debt Due July 2
----------------------------------------------------------
Carlos Enrique Wolff, the court-appointed trustee for Servicios
Integrales Productec SA's reorganization proceedings, will be
verifying creditors' proofs of claim until July 2, 2012.

Mr. Wolff will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 14 in Buenos Aires, with the assistance of Clerk No.
28, will determine if the verified claims are admissible, taking
into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Creditors will vote to ratify the completed settlement plan
during the assembly on April 24, 2013.

The Trustee can be reached at:

         Enrique Wolff
         Virrey del Pino 2354
         Argentina


WALFAC SRL: Creditors' Proofs of Debt Due June 28
-------------------------------------------------
Marta Susana Rosenthal, the court-appointed trustee for Walfac
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until June 28, 2012.

Ms. Rosenthal will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 16 in Buenos Aires, with the assistance of Clerk
No. 31, 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:

         Marta Susana Rosenthal
         Viamonte 1592
         Argentina


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B A R B U D A
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REDJET: GAIA Blocks Last Flight Out of Barbados
-----------------------------------------------
RJR News reports that Airone Caribbean/Airone Ventures Limited
(REDjet)'s lawyer is fighting a court injunction granted to one
of  its creditors, Grantley Adams International Airport (GAIA)
Incorporated, which blocks the airline from flying its last plane
out of Barbados.

Attorney-at-law Anthony Audain told the Barbados Daily Nation
that the order granted late Saturday was not only invalid but put
a spoke in the wheel of the airline's efforts to repay passengers
and other creditors, according to RJR News.  The airport is among
the creditors, the report relates, which sources said is owed
significant sums.

RJR News notes that one of the two planes which REDjet had parked
at the airport was flown out on Saturday afternoon, causing the
GAIA to seek the injunction to prevent the second plane from
taking off.

Mr. Audain, acting on behalf of the trustee appointed after the
airline filed for bankruptcy protection, explained that REDjet
was trying to get the planes to the United States where the
frames could be sold, RJR News says.  He said, the report notes,
it had to be done by today when REDjet's pilots would be
invalidated from flying.

As reported in the Troubled Company Reporter-Latin America on
March 26, 2012, RJR News related that REDjet's decision to
suspend all flights came a day after the airline announced the
addition of its new route to Antigua and Barbuda.  REDjet
officials are calling on the Barbadian government for close to
$8,000,000 in assistance, and to receive the same subsidies as
other airlines, RJR News noted.  The report disclosed that Mr.
Maharaj said governments cannot continue to expose themselves as
a guarantor to private enterprises.

REDjet (Airone Caribbean/Airone Ventures Limited) is a startup
low-cost carrier (LCC) based at the Grantley Adams International
Airport in Christ Church, Barbados, near Bridgetown.
Incorporated in Barbados, the privately owned airline features a
fleet of McDonnell Douglas MD-82 and MD-83 aircraft.



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B E R M U D A
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ELBOW BEACH: Closes on-Site Laundry Facilities, Cuts 7 Jobs
-----------------------------------------------------------
The Royal Gazette reports that Elbow Beach Resort has closed its
on-site laundry facilities resulting in seven employees being
made redundant.

The resort was still operating the laundry facility that serviced
the resort when the main hotel was open -- with more than 200
beds, according to The Royal Gazette.

"It is industry standard to outsource laundry operations when a
hotel has less than 200 beds," the report quoted an unnamed
spokesperson as saying.

The Royal Gazette discloses that the laundry services will now be
outsourced to the Fairmont Southampton hotel, which has more than
600 beds and a large laundry facility.  The employees who have
been made redundant are working with Elbow Beach's director of
human resources to find other employment, the report relates.

Elbow Beach Resort is a 50-acre resort is managed by the global
hotelier, Mandarin Oriental, and can accommodate up to 300 guests
in its 98-room resort.  The 103-year-old hotel is run by hotel
manager, Edward Shapard.



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


ATWATER CAPITAL: Creditors' Proofs of Debt Due June 27
------------------------------------------------------
The creditors of Atwater Capital Fund Ltd. are required to file
their proofs of debt by June 27, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on May 16, 2012.

The company's liquidator is:

         Ogier
         c/o Shameer Jasani
         Telephone: (345) 815-1802
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ATWATER CAPITAL OFFSHORE: Creditors' Proofs of Debt Due June 27
---------------------------------------------------------------
The creditors of Atwater Capital Offshore Ltd. are required to
file their proofs of debt by June 27, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on May 16, 2012.

The company's liquidator is:

         Ogier
         c/o Shameer Jasani
         Telephone: (345) 815-1802
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


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

The company commenced wind-up proceedings on May 22, 2012.

The company's liquidator is:

         Vadim Nikitine
         c/o Julie Reynolds
         Telephone: 1 345 914 1344
         Facsimile: 1 345 945 4799
         Coutts House
         PO Box 707 Grand Cayman KY1-1107
         Cayman Islands


BLACKROCK ASIAN: Creditors' Proofs of Debt Due July 9
-----------------------------------------------------
The creditors of Blackrock Asian Credit Hedge Fund (Offshore),
Ltd are required to file their proofs of debt by July 9, 2012, to
be included in the company's dividend distribution.

The company commenced liquidation proceedings on May 22, 2012.

The company's liquidator is:

         John Sutlic
         c/o Kim Charaman
         Telephone: (345) 949 8455
         Facsimile: (345) 949 8499
         Intertrust (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034 Grand Cayman KY1-1102
         Cayman Islands


CHATER ASIA-PACIFIC: Creditors' Proofs of Debt Due July 5
---------------------------------------------------------
The creditors of Chater Asia-Pacific Event-Driven Fund Ltd. are
required to file their proofs of debt by July 5, 2012, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on May 14, 2012.

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


CINQUEDITA LTD: Creditors' Proofs of Debt Due July 3
----------------------------------------------------
The creditors of Cinquedita Ltd. are required to file their
proofs of debt by July 3, 2012, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on May 15, 2012.

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


ELISE LIMITED: Creditors' Proofs of Debt Due July 5
---------------------------------------------------
The creditors of Elise Limited are required to file their proofs
of debt by July 5, 2012, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on May 2, 2012.

The company's liquidator is:

         Stephen R. Barbieri
         c/o Julie Reynolds
         Telephone: 945 4777
         Facsimile: 945 4799
         P.O. Box 707 Grand Cayman KY1-1107


LIM AIS: Creditors' Proofs of Debt Due July 5
---------------------------------------------
The creditors of Lim AIS DMA Program Fund SPC are required to
file their proofs of debt by July 5, 2012, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 18, 2012.

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


PUBBLICITA SECONDA: Creditors' Proofs of Debt Due July 3
--------------------------------------------------------
The creditors of Pubblicita Seconda Overseas Limited are required
to file their proofs of debt by July 3, 2012, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on May 15, 2012.

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


TOURMALET PARTNERS: Creditors' Proofs of Debt Due June 26
---------------------------------------------------------
The creditors of Tourmalet Partners Offshore Fund, Ltd. are
required to file their proofs of debt by June 26, 2012, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on May 23, 2012.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands



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


KINGSTON YMCA: Struggles With High Overheads, Seeks to Raise $5MM
-----------------------------------------------------------------
Nekiesha Reid at Jamaica Observer reports that a pledge drive
will be launched within a month in an effort to raise $5 million
and sustain operations at the Kingston YMCA.

Although the details of the drive are not yet finalized, YMCA
administrator and general secretary Sarah Newland-Martin said it
would ask both individuals and corporations to make a pledge on
either a monthly or yearly basis to offset costs associated with
running the organization, according to Jamaica Observer.

Its Youth Development Program, which provides mentorship and
educational guidance to about 5,000 of Kingston's "at-risk" boys,
is most affected by the lack of funds, Ms. Newland-Martin said,
Jamaica Observer notes.  However, the report relates that despite
the financial crisis, the program would not be closed, she added.

"The YMCA is run on a budget of $20 million each year . . . . but
each year the organization falls short by about $5 million . . .
. We're having a real difficulty in maintaining the operations,"
The report quoted Ms. Newland-Martin as saying.

Kingston YMCA is a youth development organization.


PEGASUS HOTEL: Incurs Huge Losses, Delists From Stock Exchange
--------------------------------------------------------------
Jamaica Observer reports that Pegasus Hotels of Jamaica completed
its transition to private ownership on Tuesday with the delisting
of the company's shares, all of which are now owned by Kevin
Hendrickson's Quivin International Limited.

The hotel company, which owns The Jamaica Pegasus, exits the
stock market after posting one of its worst financial years in
which its losses grew fivefold, and its fourth quarter was
characterized by 'negative' revenue, according to Jamaica
Observer.

Jamaica Observer notes that Mr. Hendrickson had previously
signalled to the market, after he acquired the first 60% of the
shares from the Urban Development Corporation in 2010, that the
Pegasus' financial position was worse than he expected and would
have required a strong injection of capital to turn into a
profitable entity.  The report relates that Mr. Hendrickson's
plan to take the company private was also telegraphed at
acquisition.  Jamaica Observer says that Quivin International
needed more than 80% of the shares to delist, but ended up
securing full ownership.

"Pegasus Hotels of Jamaica Limited will be delisted effective
June 12, on the basis that all shares in the company have been
acquired by a single shareholder and the company no longer
satisfies the requirements of the rules of the Jamaica Stock
Exchange with respect to the minimum number of shareholders for
listed companies," said a stock market filing obtained by Jamaica
Observer.

Jamaica Observer relates that Pegasus Hotels made a loss of
J$392 million at yearend March 2012, which quintupled the
J$78 million of losses, before tax credits, made the year before
on the back of shrunken revenues and an unexplained one-off
exceptional item of J$314 million.  Jamaica Observer notes that
the hotel reported turnover of J$533 million, or about half the
J$990 million reported the year prior. The company's revenues in
the fourth quarter dropped to negative J$974,000, Jamaica
Observer relays.

The report notes that Mr. Hendrickson got the approval of the
Pegasus Hotels of Jamaica board to lease the hotel to Surrey
Hotel Management Limited, a company he created for the purpose.
Surrey took over management of the hotel on Oct. 28, 2011,
Jamaica Observer recalls.



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



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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


                            ***********


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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